Research in structures, structural dynamics and materials, 1989

Topics addressed include: composite plates; buckling predictions; missile launch tube modeling; structural/control systems design; optimization of nonlinear R/C frames; error analysis for semi-analytic displacement; crack acoustic emission; and structural dynamics

An empirical examination of the price-dividend relation with dividend management

Some recent empirical evidence suggests that stock prices are not properly modelled as the present discounted value of expected dividends. In this paper we estimate a present value model of stock price that is capable of explaining the observed long-term trends in stock prices. The model recognizes that firm managers control cash dividend payments. The model estimates indicate that stock price movements may be explained by managerial behavior.Stocks ; Stock market

Whither the community bank? relationship finance in the information age

Banks and banking ; Bank mergers

The past, present, and probable future for community banks

We review how deregulation, technological advance, and increased competitive rivalry have affected the size and health of the U.S. community banking sector and the quality and availability of banking products and services. We then develop a simple theoretical framework for analyzing how these changes have affected the competitive viability of community banks. Empirical evidence presented in this paper is consistent with the model's prediction that regulatory and technological change has exposed community banks to intensified competition on the one hand, but on the other hand has left well-managed community banks with a potentially exploitable strategic position in the industry. We also offer an analysis of how the number and distribution of community banks may change in the future.Community banks

Laser transit anemometer measurements on a slender cone in the Langley unitary plan wind tunnel

A laser transit anemometer (LTA) system was used to probe the boundary layer on a slender (5 degree half angle) cone model in the Langley unitary plan wind tunnel. The anemometer system utilized a pair of laser beams with a diameter of 40 micrometers spaced 1230 micrometers apart to measure the transit times of ensembles of seeding particles using a cross-correlation technique. From these measurements, boundary layer profiles around the model were constructed and compared with CFD calculations. The measured boundary layer profiles representing the boundary layer velocity normalized to the edge velocity as a function of height above the model surface were collected with the model at zero angle of attack for four different flow conditions, and were collected in a vertical plane that bisected the model's longitudinal center line at a location 635 mm from the tip of the forebody cone. The results indicate an excellent ability of the LTA system to make velocity measurements deep into the boundary layer. However, because of disturbances in the flow field caused by onboard seeding, premature transition occurred implying that upstream seeding is mandatory if model flow field integrity is to be maintained. A description and results of the flow field surveys are presented

An Empirical Examination of the Price-Dividend Relation with Dividend Management

Some recent empirical evidence suggests that stock prices are not properly modeled as the present discounted value of expected dividends. In this paper, we estimate a present value model of stock price that is capable of explaining the observed long-term trends in stock prices. The model recognizes that firm managers control cash dividend payments. The model estimates indicate that stock price movements may be explained by managerial behavior

Gold-Catalyzed Intramolecular Aminoarylation of Alkenes: C-C Bond Formation through Bimolecular Reductive Elimination

Gold-ilocks and the 3 mol % catalyst: Bimetallic gold bromides allow the room temperature aminoarylation of unactivated terminal olefins with aryl boronic acids using Selectfluor as an oxidant. A catalytic cycle involving gold(I)/gold(III) and a bimolecular reductive elimination for the key CC bond-forming step is proposed. dppm= bis(diphenylphosphanyl)methane