Efficiency, scale economies and valuation effects : evidence from bank mergers in India

Original article can be found at : http://www.inderscience.com/ Copyright Inderscience PublishersThis paper examines two important issues related to bank mergers in India. First, we estimate potential economic gains of state owned banks if they undergo consolidation. Scale economies, returns to scale and profit efficiency of state owned banks during 1986 to 2003 are estimated based on stochastic frontier analysis. We find that many Indian banks exhibit potential cost savings from mergers provided they rationalize their branch networks although profit efficiency may not rise immediately. Second we measure the realized impact of bank mergers on shareholders’ wealth based on event study analysis. We find that in the case of forced mergers, shareholders of neither the bidder nor the target banks benefited. In the case of voluntary mergers, the bidder banks’ shareholders gained more than the target banks’ shareholders.Peer reviewe

Vortices in Superfluid Fermi Gases through the BEC to BCS Crossover

We have analyzed a single vortex at T=0 in a 3D superfluid atomic Fermi gas across a Feshbach resonance. On the BCS side, the order parameter varies on two scales: $k_{F}^{-1}$ and the coherence length $\xi$, while only variation on the scale of $\xi$ is seen away from the BCS limit. The circulating current has a peak value $j_{max}$ which is a non-monotonic function of $1/k_F a_s$ implying a maximum critical velocity $\sim v_F$ at unitarity. The number of fermionic bound states in the core decreases as we move from the BCS to BEC regime. Remarkably, a bound state branch persists even on the BEC side reflecting the composite nature of bosonic molecules.Comment: 4 Pages, 4 Figure

Relaxation of Fermionic Excitations in a Strongly Attractive Fermi Gas in an Optical Lattice

We theoretically study the relaxation of high energy single particle excitations into molecules in a system of attractive fermions in an optical lattice, both in the superfluid and the normal phase. In a system characterized by an interaction scale $U$ and a tunneling rate $t$, we show that the relaxation rate scales as $\sim Ct\exp(-\alpha U^2/t^2)$ in the large $U/t$ limit. We obtain explicit expressions for the exponent $\alpha$, both in the low temperature superfluid phase and the high temperature phase with pairing but no coherence between the molecules. We find that the relaxation rate decreases both with temperature and deviation of the fermion density from half-filling. We show that quasiparticle and phase degrees of freedom are effectively decoupled within experimental timescales allowing for observation of ordered states even at high total energy of the system.Comment: 5 pages, 3 figure

Preparation and detection of d-wave superfluidity in two-dimensional optical superlattices

We propose a controlled method to create and detect d-wave superfluidity with ultracold fermionic atoms loaded in two-dimensional optical superlattices. Our scheme consists in preparing an array of nearest-neighbor coupled square plaquettes or ``superplaquettes'' and using them as building blocks to construct a d-wave superfluid state. We describe how to use the coherent dynamical evolution in such a system to experimentally probe the pairing mechanism. We also derive the zero temperature phase diagram of the fermions in a checkerboard lattice (many weakly coupled plaquettes) and show that by tuning the inter-plaquette tunneling spin-dependently or varying the filling factor one can drive the system into a d-wave superfluid phase or a Cooper pair density wave phase. We discuss the use of noise correlation measurements to experimentally probe these phases.Comment: 8 pages, 6 figure

Dynamical mean-field equations for strongly interacting fermionic atoms in a potential trap

We derive a set of dynamical mean-field equations for strongly interacting fermionic atoms in a potential trap across a Feshbach resonance. Our derivation is based on a variational ansatz, which generalizes the crossover wavefunction to the inhomogeneous case, and the assumption that the order parameter is slowly varying over the size of the Cooper pairs. The equations reduce to a generalized time-dependent Gross-Pitaevskii equation on the BEC side of the resonance. We discuss an iterative method to solve these mean-field equations, and present the solution for a harmonic trap as an illustrating example to self-consistently verify the approximations made in our derivation.Comment: replaced with the published versio

Crossover from adiabatic to sudden interaction quenches in the Hubbard model: Prethermalization and nonequilibrium dynamics

The recent experimental implementation of condensed matter models in optical lattices has motivated research on their nonequilibrium behavior. Predictions on the dynamics of superconductors following a sudden quench of the pairing interaction have been made based on the effective BCS Hamiltonian; however, their experimental verification requires the preparation of a suitable excited state of the Hubbard model along a twofold constraint: (i) a sufficiently nonadiabatic ramping scheme is essential to excite the nonequilibrium dynamics, and (ii) overheating beyond the critical temperature of superconductivity must be avoided. For commonly discussed interaction ramps there is no clear separation of the corresponding energy scales. Here we show that the matching of both conditions is simplified by the intrinsic relaxation behavior of ultracold fermionic systems: For the particular example of a linear ramp we examine the transient regime of prethermalization [M. Moeckel and S. Kehrein, Phys. Rev. Lett. 100, 175702 (2008)] under the crossover from sudden to adiabatic switching using Keldysh perturbation theory. A real-time analysis of the momentum distribution exhibits a temporal separation of an early energy relaxation and its later thermalization by scattering events. For long but finite ramping times this separation can be large. In the prethermalization regime the momentum distribution resembles a zero temperature Fermi liquid as the energy inserted by the ramp remains located in high energy modes. Thus ultracold fermions prove robust to heating which simplifies the observation of nonequilibrium BCS dynamics in optical lattices.Comment: 27 pages, 8 figures Second version with small modifications in section

Can one determine the underlying Fermi surface in the superconducting state of strongly correlated superconductors?

The question of determining the underlying Fermi surface (FS) that is gapped by superconductivity (SC) is of central importance in strongly correlated systems, particularly in view of angle-resolved photoemission experiments. Here we explore various definitions of the FS in the superconducting state using the zero-energy Green's function, the excitation spectrum and the momentum distribution. We examine (a) d-wave SC in high Tc cuprates, and (b) the s-wave superfluid in the BCS-BEC crossover. In each case we show that the various definitions agree, to a large extent, but all of them violate the Luttinger count and do not enclose the total electron density. We discuss the important role of chemical potential renormalization and incoherent spectral weight in this violation.Comment: 4 pages, 4 figures, version 3, Added new figures, detailed discussion of result

System size scaling of topological defect creation in a second-order dynamical quantum phase transition

We investigate the system size scaling of the net defect number created by a rapid quench in a second-order quantum phase transition from an O(N) symmetric state to a phase of broken symmetry. Using a controlled mean-field expansion for large N, we find that the net defect number variance in convex volumina scales like the surface area of the sample for short-range correlations. This behaviour follows generally from spatial and internal symmetries. Conversely, if spatial isotropy is broken, e.g., by a lattice, and in addition long-range periodic correlations develop in the broken-symmetry phase, we get the rather counterintuitive result that the scaling strongly depends on the dimension being even or odd: For even dimensions, the net defect number variance scales like the surface area squared, with a prefactor oscillating with the system size, while for odd dimensions, it essentially vanishes.Comment: 20 pages of IOP style, 6 figures; as published in New Journal of Physic