Risk-shifting, equity risk, and the distress puzzle

Includes bibliographical references (pages 22-24).Published as: Journal of Corporate Finance, vol.44, June 2017, pp. 275-288, https://doi.org/10.1016/j.jcorpfin.2017.04.003.Higher default probabilities are associated with lower future stock returns. The anomaly cannot be explained by strategic shareholder actions, traditional risk factors, characteristics, or mispricing, but, instead, is consistent with a risk-shifting hypothesis. Consistent with the risk-shifting hypothesis, we find that distressed firms tend to overinvest, destroy value, and exhaust their cash flows. Effects are concentrated in firms with wide credit spreads, firms with no convertible debt, and in cases where CEOs receive above-average equity-based compensation. As default risk rises, credit spreads rise, equity betas fall, and equity returns fall

2,9-Bis(4-pyridylmeth­oxy)-1,10-phenanthroline

In the title mol­ecule, C24H18N4O2, the dihedral angles between the mean plane of the phenanthroline ring system and the pyridine rings are 82.52 (5) and 71.58 (4)°. The dihedral angle between the two pyridine ring planes is 53.54 (6)°. In the crystal structure, there are π–π stacking inter­actions between 1,10-phenanthroline rings, with centroid–centroid distances of 3.6101 (11) and 3.5864 (11) Å

Chlorido[2,2′-(oxydimethyl­ene)­dipyridine]copper(II) perchlorate–aqua­chlorido[2,2′-(oxydimethyl­ene)­dipyridine]copper(II) perchlorate (1/1)

The asymmetric unit of the title compound, [CuCl(C12H12N2O)][CuCl(C12H12N2O)(H2O)](ClO4)2, contains two different discrete cations. In one cation, the CuII ion is coordinated in a slightly distorted square-planar geometry, while in the other the CuII ion is in a slightly distorted square-pyramidal environment. In the crystal structure, there are O—H⋯O hydrogen bonds between coordinated water mol­ecules and perchlorate anions. Both types of cations are linked into one-dimensional chains along the b axis by weak electrostatic Cu⋯Cl inter­actions, with Cu⋯Cl distances of 2.8088 (16) and 3.2074 (17) Å

Interplay between Chiral Charge Density Wave and Superconductivity in Kagome Superconductors: A Self-consistent Theoretical Analysis

Inspired by the recent discovery of a successive evolutions of electronically ordered states, we present a self-consistent theoretical analysis that treats the interactions responsible for the chiral charge order and superconductivity on an equal footing. It is revealed that the self-consistent theory captures the essential features of the successive temperature evolutions of the electronic states from the high-temperature ``triple-$Q$" $2\times 2$ charge-density-wave state to the nematic charge-density-wave phase, and finally to the low-temperature superconducting state coexisting with the nematic charge density wave. We provide a comprehensive explanation for the temperature evolutions of the charge ordered states and discuss the consequences of the intertwining of the superconductivity with the nematic charge density wave. Our findings not only account for the successive temperature evolutions of the ordered electronic states discovered in experiments but also provide a natural explanation for the two-fold rotational symmetry observed in both the charge-density-wave and superconducting states. Moreover, the intertwining of the superconductivity with the nematic charge density wave order may also be an advisable candidate to reconcile the divergent or seemingly contradictory experimental outcomes regarding the superconducting properties

Poly[μ-aqua-diaqua­(μ3-N′-carboxy­methyl­ethylenediamine-N,N,N′-tri­acetato)oxidopotassium(I)vanadium(IV)]

In the crystal structure of the title compound, [KV(C10H13N2O8)O(H2O)3]n, the VIV ion adopts a distorted octa­hedral geometry, coordinated by one oxide group, two N and three carboxylate O atoms from the same N′-carboxy­methyl­ethyl­ene­diamine-N,N,N′-triacetate (HEDTA) ligand. The potassium ion is hepta­coordinated by two water mol­ecules, two bridging water mol­ecules and three carboxylate O atoms from three neighbouring HEDTA ligands. The HEDTA ligands and some of the water mol­ecules act as bridges, linking the compound into a three-dimensional architecture via 21 screw, c-glide, translation and inversion symmetry operators. Meanwhile, three types of O—H⋯O hydrogen bonds provide an additional stabilization of the three-dimensional architecture

Improved field emission performance of carbon nanotube by introducing copper metallic particles

To improve the field emission performance of carbon nanotubes (CNTs), a simple and low-cost method was adopted in this article. We introduced copper particles for decorating the CNTs so as to form copper particle-CNT composites. The composites were fabricated by electrophoretic deposition technique which produced copper metallic particles localized on the outer wall of CNTs and deposited them onto indium tin oxide (ITO) electrode. The results showed that the conductivity increased from 10-5 to 4 × 10-5 S while the turn-on field was reduced from 3.4 to 2.2 V/μm. Moreover, the field emission current tended to be undiminished after continuous emission for 24 h. The reasons were summarized that introducing copper metallic particles to decorate CNTs could increase the surface roughness of the CNTs which was beneficial to field emission, restrain field emission current from saturating when the applied electric field was above the critical field. In addition, it could also improve the electrical contact by increasing the contact area between CNT and ITO electrode that was beneficial to the electron transport and avoided instable electron emission caused by thermal injury of CNTs