The influence of corporate governance on bank risk during a financial crisis

Using agency theory, we explore the relationship between corporate governance mechanisms and bank risk. We employ panel data analysis to study the 97 largest European listed banks between 2006 and 2010, thereby covering the most recent international financial crisis. The results show that corporate governance mechanisms influence bank risk. During the financial crisis, different governance mechanisms can minimise or accentuate the agency conflict between shareholders and managers. In our model, bank size and G.D.P. per capita also exert a considerable influence.info:eu-repo/semantics/publishedVersio

Bose-Einstein Condensation in a CO_2-laser Optical Dipole Trap

We report on the achieving of Bose-Einstein condensation of a dilute atomic gas based on trapping atoms in tightly confining CO_2-laser dipole potentials. Quantum degeneracy of rubidium atoms is reached by direct evaporative cooling in both crossed and single beam trapping geometries. At the heart of these all-optical condensation experiments is the ability to obtain high initial atomic densities in quasistatic dipole traps by laser cooling techniques. Finally, we demonstrate the formation of a condensate in a field insensitive m_F=0 spin projection only. This suppresses fluctuations of the chemical potential from stray magnetic fields.Comment: 8 pages, 5 figure

Pixel Detectors for Charged Particles

Pixel Detectors, as the current technology of choice for the innermost vertex detection, have reached a stage at which large detectors have been built for the LHC experiments and a new era of developments, both for hybrid and for monolithic or semi-monolithic pixel detectors is in full swing. This is largely driven by the requirements of the upgrade programme for the superLHC and by other collider experiments which plan to use monolithic pixel detectors for the first time. A review on current pixel detector developments for particle tracking and vertexing is given, comprising hybrid pixel detectors for superLHC with its own challenges in radiation and rate, as well as on monolithic, so-called active pixel detectors, including MAPS and DEPFET pixels for RHIC and superBelle.Comment: 19 pages, 23 drawings in 14 figure

Quantum phase transition for the BEC--BCS crossover in condensed matter physics and CPT violation in elementary particle physics

We discuss the quantum phase transition that separates a vacuum state with fully-gapped fermion spectrum from a vacuum state with topologically-protected Fermi points (gap nodes). In the context of condensed-matter physics, such a quantum phase transition with Fermi point splitting may occur for a system of ultracold fermionic atoms in the region of the BEC-BCS crossover, provided Cooper pairing occurs in the non-s-wave channel. For elementary particle physics, the splitting of Fermi points may lead to CPT violation, neutrino oscillations, and other phenomena.Comment: 13 pages, 1 figure, v3: published versio

Anomalies in low-energy Gamma-Ray Burst spectra with the Fermi Gamma-Ray Burst Monitor

A Band function has become the standard spectral function used to describe the prompt emission spectra of gamma-ray bursts (GRBs). However, deviations from this function have previously been observed in GRBs detected by BATSE and in individual GRBs from the \textit{Fermi} era. We present a systematic and rigorous search for spectral deviations from a Band function at low energies in a sample of the first two years of high fluence, long bursts detected by the \textit{Fermi} Gamma-Ray Burst Monitor (GBM). The sample contains 45 bursts with a fluence greater than 2$\times10^{-5}$ erg / cm$^{2}$ (10 - 1000 keV). An extrapolated fit method is used to search for low-energy spectral anomalies, whereby a Band function is fit above a variable low-energy threshold and then the best fit function is extrapolated to lower energy data. Deviations are quantified by examining residuals derived from the extrapolated function and the data and their significance is determined via comprehensive simulations which account for the instrument response. This method was employed for both time-integrated burst spectra and time-resolved bins defined by a signal to noise ratio of 25 $\sigma$ and 50 $\sigma$. Significant deviations are evident in 3 bursts (GRB\,081215A, GRB\,090424 and GRB\,090902B) in the time-integrated sample ($\sim$ 7%) and 5 bursts (GRB\,090323, GRB\,090424, GRB\,090820, GRB\,090902B and GRB\,090926A) in the time-resolved sample ($\sim$ 11%).} The advantage of the systematic, blind search analysis is that it can demonstrate the requirement for an additional spectral component without any prior knowledge of the nature of that extra component. Deviations are found in a large fraction of high fluence GRBs; fainter GRBs may not have sufficient statistics for deviations to be found using this method

Synchrotron Cooling in Energetic Gamma-Ray Bursts Observed by the Fermi Gamma-Ray Burst Monitor

We study the time-resolved spectra of eight GRBs observed by Fermi GBM in its first five years of mission, with 1 keV - 1 MeV fluence $f>1.0\times10^{-4}$ erg cm$^{-2}$ and signal-to-noise level $\text{S/N}\geq10.0$ above 900 keV. We aim to constrain in detail the spectral properties of GRB prompt emission on a time-resolved basis and to discuss the theoretical implications of the fitting results in the context of various prompt emission models. We perform time-resolved spectral analysis using a variable temporal binning technique according to optimal S/N criteria, resulting in a total of 299 time-resolved spectra. We fit the Band function to all spectra and obtain the distributions for the low-energy power-law index $\alpha$, the high-energy power-law index $\beta$, the peak energy in the observed $\nu F_\nu$ spectrum $E_\text{p}$, and the difference between the low- and high-energy power-law indices $\Delta s=\alpha-\beta$. Using the distributions of $\Delta s$ and $\beta$, the electron population index $p$ is found to be consistent with the "moderately fast" scenario which fast- and slow-cooling scenarios cannot be distinguished. We also apply a physically motivated synchrotron model, which is a triple power-law with constrained power-law indices and a blackbody component, to test for consistency with a synchrotron origin for the prompt emission and obtain the distributions for the two break energies $E_\text{b,1}$ and $E_\text{b,2}$, the middle segment power-law index $\beta$, and the Planck function temperature $kT$. A synchrotron model is found consistent with the majority of time-resolved spectra for these eight energetic Fermi GBM bursts with good high-energy photon statistics, as long as both the cooling and injection break are included and the leftmost spectral slope is lifted either by inclusion of a thermal component or when an evolving magnetic field is accounted for.Comment: 20 pages, 7 figures, 8 tables, accepted for publication in A&

Quasiparticle excitations in relativistic quantum field theory

We analyze the particle-like excitations arising in relativistic field theories in states different than the vacuum. The basic properties characterizing the quasiparticle propagation are studied using two different complementary methods. First we introduce a frequency-based approach, wherein the quasiparticle properties are deduced from the spectral analysis of the two-point propagators. Second, we put forward a real-time approach, wherein the quantum state corresponding to the quasiparticle excitation is explicitly constructed, and the time-evolution is followed. Both methods lead to the same result: the energy and decay rate of the quasiparticles are determined by the real and imaginary parts of the retarded self-energy respectively. Both approaches are compared, on the one hand, with the standard field-theoretic analysis of particles in the vacuum and, on the other hand, with the mean-field-based techniques in general backgrounds.Comment: 53 pages, 4 figures. Version accepted for publication in Ann. Phy