1,148 research outputs found

    Collateral and Debt Maturity Choice. A Signaling Model

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    This paper derives optimal loan policies under asymmetric information where banks offer loan contracts of long and short duration, backed or unbacked with collateral. The main novelty of the paper is that it analyzes a setting in which high quality firms use collateral as a complementary device along with debt maturity to signal their superiority. The least-cost signaling equilibrium depends on the relative costs of the signaling devices, the difference in firm quality and the proportion of good firms in the market. Model simulations suggest a non-monotonic relationship between firm quality and debt maturity, in which high quality firms have both long-term secured debt and short-term secured or non-secured debt.

    Sampling Local Fungal Diversity in an Undergraduate Laboratory using DNA Barcoding

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    Traditional methods for fungal species identification require diagnostic morphological characters and are often limited by the availability of fresh fruiting bodies and local identification resources. DNA barcoding offers an additional method of species identification and is rapidly developing as a critical tool in fungal taxonomy. As an exercise in an undergraduate biology course, we identified 9 specimens collected from the Hendrix College campus in Conway, Arkansas, USA to the genus or species level using morphology. We report that DNA barcoding targeting the internal transcribed spacer (ITS) region supported several of our taxonomic determinations and we were able to contribute 5 ITS sequences to GenBank that were supported by vouchered collection information. We suggest that small-scale barcoding projects are possible and that they have value for documenting fungal diversity

    Reply to Comment of Gazdzicki and Heinz on Strangeness Enhancement in p+Ap+A and S+AS+A

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    The Comment of Gazdzicki and Heinz is flawed because their assumed baryon stopping power in pApA is inconsistent with data and because they ignored half the analysis based on the VENUS model. The Comment continues the misleading presentation of strangeness enhancement by focusing on ratios of integrated yields. Those ratios discard essential experimental information on the rapidity dependence of produced Λ\Lambda and obscure discrepancies between different data sets. Our conclusion remains that the NA35 minimum bias data on p+SΛ+Xp+S\rightarrow\Lambda +X indicate an anomalous enhancement of central rapidity strangeness in few nucleon reactions that points to non-equilibrium dynamics as responsible for strangeness enhancement in nuclear reactions.Comment: revtex file, 6 pages, submitted to Phys. Rev.

    An examination of the relationship of governance structure and performance: Evidence from banking companies in Bangladesh

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    Corporate governance has become increasingly important in developed and developing countries just after a series of corporate scandals and failures in a number of countries. Corporate governance structure is often viewed as a means of corporate success despite prior studies reveal mixed, somewhere conflicting and ambiguous, and somewhere no relationship between governance structure and performance. This study empirically investigates the relationship between corporate governance mechanisms and financial performance of listed banking companies in Bangladesh by using two multiple regression models. The study reveals that a good number of companies do not comply with the regulatory requirements indicating remarkable shortfall in corporate governance practice. The companies are run by the professional managers having no duality and no ownership interest for which they are compensated by high remuneration to curb agency conflict. Apart from some inconsistent relationship between some corporate variables, the corporate governance mechanisms do not appear to have significant relationship with financial performances. The findings reveal an insignificant negative impact or somewhere no impact of independent directors and non-independent non-executive directors on the level of performance that strongly support the concept that the managers are essentially worthy of trust and earn returns for the owners as claimed by stewardship theory. The study provides support for the view that while much emphasis on corporate governance mechanisms is necessary to safeguard the interest of stakeholders; corporate governance on its own, as a set of codes or standards for corporate conformance, cannot make a company successful. Companies need to balance corporate governance mechanisms with performance by adopting strategic decision and risk management with the efficient utilization of the organization’s resources

    Leading particle effect, inelasticity and the connection between average multiplicities in {\bf e+ee^+e^-} and {\bf pppp} processes

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    The Regge-Mueller formalism is used to describe the inclusive spectrum of the proton in ppp p collisions. From such a description the energy dependences of both average inelasticity and leading proton multiplicity are calculated. These quantities are then used to establish the connection between the average charged particle multiplicities measured in {\bf e+ee^+e^-} and {\bf pp/pˉppp/{\bar p}p} processes. The description obtained for the leading proton cross section implies that Feynman scaling is strongly violated only at the extreme values of xFx_F, that is at the central region (xF0x_F \approx 0) and at the diffraction region (xF1x_F \approx 1), while it is approximately observed in the intermediate region of the spectrum.Comment: 20 pages, 10 figures, to be published in Physical Review

    Dry Bean: A Protein-Rich Superfood With Carbohydrate Characteristics That Can Close the Dietary Fiber Gap

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    Consumer food choices are often focused on protein intake, but the chosen sources are frequently either animal-based protein that has high fat content or plant-based protein that is low in other nutrients. In either case, these protein sources often lack dietary fiber, which is a nutrient of concern in the 2020–2025 Dietary Guide for Americans. Pulse crops, such as dry edible beans (Phaseolus vulgaris L.), are a rich source of dietary protein and contain approximately equal amounts of dietary fiber per 100 kcal edible portion; yet the consumer's attention has not been directed to this important fact. If product labeling were used to draw attention to the similar ratio of dietary protein to dietary fiber in dry bean and other pulses, measures of carbohydrate quality could also be highlighted. Dietary fiber is categorized into three fractions, namely, soluble (SDF), insoluble (IDF), and oligosaccharides (OLIGO), yet nutrient composition databases, as well as food labels, usually report only crude fiber. The objectives of this research were to measure the content of SDF, IDF, and OLIGO in a large genetically diverse panel of bean cultivars and improved germplasm (n = 275) and determine the impact of growing environment on the content of DF. Dietary fiber was evaluated using the American Association of Analytical Chemist 2011.25 method on bean seed grown at two locations. Dry bean cultivars differed for all DF components (P ≤ 0.05). Insoluble dietary fiber constituted the highest portion of total DF (54.0%), followed by SDF (29.1%) and OLIGO (16.8%). Mean total DF and all components did not differ among genotypes grown in two field environments. These results indicate that value could be added to dry bean by cultivar-specific food labeling for protein and components of dietary fiber

    Simulation of facet heating in high-power red lasers

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    A two-dimensional self-consistent laser model has been used for the simulation of the facet heating of red emitting AlGaInP lasers. It solves in the steady-state the complete semiconductor optoelectronic and thermal equations in the epitaxial and longitudinal directions and takes into account the population of different conduction band valleys. The model considers the possibility of two independent mechanisms contributing to the facet heating: recombination at surface traps and optical absorption at the facet. The simulation parameters have been calibrated by comparison with measurements of the temperature dependence of the threshold current and slope efficiency of broad-area lasers. Facet temperature has been measured by micro-Raman spectrometry in devices with standard and non absorbing mirrors evidencing an effective decrease of the facet heating due to the non absorbing mirrors. A good agreement between experimental values and calculations is obtained for both devices when a certain amount of surface traps and optical absorption is assumed. A simulation analysis of the effect of non absorbing mirrors in the reduction of facet heating in terms of temperature, carrier density, material gain and Shockly-Read-Hall recombination rate profiles is provided

    Fluctuations in Hadronic and Nuclear Collisions

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    We investigate several fluctuation effects in high-energy hadronic and nuclear collisions through the analysis of different observables. To introduce fluctuations in the initial stage of collisions, we use the Interacting Gluon Model (IGM) modified by the inclusion of the impact parameter. The inelasticity and leading-particle distributions follow directly from this model. The fluctuation effects on rapidity distributions are then studied by using Landau's Hydrodynamic Model in one dimension. To investigate further the effects of the multiplicity fluctuation, we use the Longitudinal Phase-Space Model, with the multiplicity distribution calculated within the hydrodynamic model, and the initial conditions given by the IGM. Forward-backward correlation is obtained in this way.Comment: 22 pages, RevTex, 8 figures (included); Invited paper to the special issue of Foundation of Physics dedicated to Mikio Namiki's 70th. birthda
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