Do banks really monitor? : Evidence from CEO succession decisions

The authors are grateful to Dick Davies, Paul Draper, Robert Faff, David Hillier, Ike Mathur (the editor), Katrin Migliorati, Krishna Paudyal, our anonymous reviewer, and to seminar participants at the 2nd International Conference of the Financial Engineering and Banking Society (London) and 2013 Midwest Finance Association Annual Meeting (Chicago) for helpful comments on earlier versions of this work. We also thank Martin Kemmitt for helpful research assistance on this project. All errors remain our own.Peer reviewedPostprin

Disorder versus two transport lifetimes in a strongly correlated electron liquid

We report on angle-dependent measurements of the sheet resistances and Hall coefficients of electron liquids in SmTiO3/SrTiO3/SmTiO3 quantum well structures, which were grown by molecular beam epitaxy on (001) DyScO3. We compare their transport properties with those of similar structures grown on LSAT [(La0.3Sr0.7)(Al0.65Ta0.35)O3]. On DyScO3, planar defects normal to the quantum wells lead to a strong in-plane anisotropy in the transport properties. This allows for quantifying the role of defects in transport. In particular, we investigate differences in the longitudinal and Hall scattering rates, which is a non-Fermi liquid phenomenon known as lifetime separation. The residuals in both the longitudinal resistance and Hall angle were found to depend on the relative orientations of the transport direction to the planar defects. The Hall angle exhibited a robust T2 temperature dependence along all directions, whereas no simple power law could describe the temperature dependence of the longitudinal resistances. Remarkably, the degree of the carrier lifetime separation, as manifested in the distinctly different temperature dependences and diverging residuals near a critical quantum well thickness, was completely insensitive to disorder. The results allow for a clear distinction between disorder-induced contributions to the transport and intrinsic, non-Fermi liquid phenomena, which includes the lifetime separation.Comment: In press, Sci. Re

Supporting regional growth from the higher education community: the Energy Coast Campus Programme in West Cumbria

West Cumbria is a predominantly rural, but post-industrial region undergoing a transition from one that has been dominated by heavy industry over a 200 year period. The regional economy has latterly been dominated by one of the world’s largest nuclear technology hubs, which continues to influence the structure of the economy. The region has aspirations to evolve a high technology manufacturing base, with a continued strong role for nuclear, but with a more diversified economy, including an expanded focus on low carbon and renewable energy generation. The region has aspirations to evolve a high technology manufacturing base, with a continued strong role for nuclear, but with a more diversified economy. As part of this strategy, a large investment has been made to build a higher education community in this largely rural area, to support its strategic objectives to promote innovation through applied research, research demonstration, enterprise, business support, skills and training and other transformational actions. Three case studies are described in detail: the Cumbrian Centre for Health Technologies (CaCHeT), the Sustainable Energy Technology Group and the Knowledge Action Network (KAN). The lessons learned are evaluated and presented, with details of future plans

Domestic Relations—Post-Minority Child Support in Dissolution Proceedings—Childers v. Childers, 89 Wn. 2d 592, 575 P.2d 201 (1978)

This note will first explore the purpose of child support and the changes in Washington law resulting in the court\u27s construction of the Dissolution Act in Childers. Following an analysis of the Childers opinion, the remainder of this note will outline the present operation and scope of the child support provisions in the Dissolution Act and discuss the impact the provisions might have upon custody of children

Optical BVRI Photometry of Common Proper Motion F/G/K+M Wide Separation Binaries

We present optical (BVRI) photometric measurements of a sample of 76 common proper motion wide separation main sequence binary pairs. The pairs are composed of a F-, G-, or K-type primary star and an M-type secondary. The sample is selected from the revised NLTT catalog and the LSPM catalog. The photometry is generally precise to 0.03 mag in all bands. We separate our sample into two groups, dwarf candidates and subdwarf candidates, using the reduced proper motion (RPM) diagram constructed with our improved photometry. The M subdwarf candidates in general have larger $V-R$ colors than the M dwarf candidates at a given $V-I$ color. This is consistent with an average metallicity difference between the two groups, as predicted by the PHOENIX/BT-Settl models. The improved photometry will be used as input into a technique to determine the metallicities of the M-type stars.Comment: 26 pages, 8 figures, accepted for publication in A

Response of the lattice across the filling-controlled Mott metal-insulator transition of a rare earth titanate

The lattice response of a prototype Mott insulator, SmTiO3, to hole doping is investigated with atomic-scale spatial resolution. SmTiO3 films are doped with Sr on the Sm site with concentrations that span the insulating and metallic sides of the filling-controlled Mott metal-insulator transition (MIT). The GdFeO3-type distortions are investigated using an atomic resolution scanning transmission electron microscopy technique that can resolve small lattice distortions with picometer precision. We show that these distortions are gradually and uniformly reduced as the Sr concentration is increased without any phase separation. Significant distortions persist into the metallic state. The results present a new picture of the physics of this prototype filling-controlled MIT, which is discussed.Comment: Accepted, Phys. Rev. Let

The Outer Limits of Galaxy Clusters: Observations to the Virial Radius with Suzaku, XMM, and Chandra

The outskirts of galaxy clusters, near the virial radius, remain relatively unexplored territory and yet are vital to our understanding of cluster growth, structure, and mass. In this presentation, we show the first results from a program to constrain the state of the outer intracluster medium (ICM) in a large sample of galaxy clusters, exploiting the strengths of three complementary X-ray observatories: Suzaku (low, stable background), XMM-Newton (high sensitivity), and Chandra (good spatial resolution). By carefully combining observations from the cluster core to beyond r_200, we are able to identify and reduce systematic uncertainties that would impede our spatial and spectral analysis using a single telescope. Our sample comprises nine clusters at z ~ 0.1-0.2 fully covered in azimuth to beyond r_200, and our analysis indicates that the ICM is not in hydrostatic equilibrium in the cluster outskirts, where we see clear azimuthal variations in temperature and surface brightness. In one of the clusters, we are able to measure the diffuse X-ray emission well beyond r_200, and we find that the entropy profile and the gas fraction are consistent with expectations from theory and numerical simulations. These results stand in contrast to recent studies which point to gas clumping in the outskirts; the extent to which differences of cluster environment or instrumental effects factor in this difference remains unclear. From a broader perspective, this project will produce a sizeable fiducial data set for detailed comparison with high-resolution numerical simulations.Comment: 8 pages, 6 figures. To appear in the proceedings of the Suzaku 2011 Conference, "Exploring the X-ray Universe: Suzaku and Beyond.