Reasons and opportunism control in public grants policies for development and innovations of businesses

In this paper we would to analyze the mechanism of public grants on economic growth. In particular this topic has been the subject of scientific interest by economists and, recently, also by business economics scholars. The studies of the economists focused on the motivations of the intervention itself; the business economic studies, on the other hand, have analyzed the impact both on the behavior of entrepreneurs and on the firms themselves by public grants. The studies examined so far highlight two basic conceptual dimensions, different, but also complementary to each other: on the one hand the economic-oriented to investigate the motivations and effectiveness of the public intervention; the second, business-oriented, focused on the firm’s behavior following public grant. Based on these arguments, our research question arises: could the effectiveness of public intervention for funding development and business innovation be influenced by the differences in the various socio-political and institutional contexts in which they are applied? The aim of paper is analyze the motivations of public grants policies and their influence on the behavior of firms. In this way we want to identify asolutions scheme able to recover efficiency and effectiveness of public actions to support development. It is therefore possible to identify some corrective mechanisms on public intervention policies. In particular with reference to the behaviors induced by the grants policies, the idea is to re-design the grants policies in consideration of the different forms of pre and post contractual opportunism. With reference, instead, to the motivations underlying the public grants policies, it is necessary to examine the relationship between the State (Principal) and the beneficiary firms (Agent) in relation to the respective dimensions of the contractual force

Changes in the turbulent boundary layer structure associated with net drag reduction by outer layer manipulators

A specially designed wind tunnel was used to examine the effects of tandemly arranged parallel plate manipulators (TAPPMs) on a turbulent boundary-layer structure and the associated drag. Momentum balances, as well as measurements of the local shear stress from the velocity gradient near the wall, were used to obtain the net drag and local skin friction changes. Two TAPPMs, identical except for the thickness of their plates, were used in the study. Results with .003 inch plates were a maximum net drag reduction of 10 percent at 58 beta sub o (using a momentum balance). At 20 beta sub o, simultaneous laser sheet flow visualization and hot-wire anemometry data showed that the Reynolds stress in the large eddies was significantly reduced, as were the streamwise and normal velocity components. Using space-time correlations the reductions were again identified. Furthermore, quantitative flow visualization showed that the outward normal velocity of the inner region was also significantly decreased in the region around 20 beta sub o. However, throughout the first 130 beta sub o, the measured sublayer thickness with the TAPPMs in place was 15 to 20 percent greater. The data showed that the skin friction, as well as the structure of the turbulence, was strongly modified in the first 35 beta sub o, but that they both significantly relaxed toward unmanipulated boundary layer values by 50 beta sub o

Positive or negative voting premium: what happened to private benefits in Italy?

A large body of research deals with voting premium as a proxy of private benefit of control. Almost all of them find positive voting premium, in particular in Italy. Therefore appears interesting to ask what is the current status of private benefits of control in Italy in the last decade (2007-2017). Surprisingly, we show three major findings: i) reduction of non-voting share in the Italian scenario; ii) prevalence of negative voting rights premium more than positive ones, thus conflicting with the assumption and the observations by other researchers; iii) limits of the voting premium method. Our aim is that this study, despite its limitations, may encourage further researches focused on the analysis of the improvement and the change in the Italian corporate governance. The article points out that interesting evidence already exists, although still much remains to do in the future

Characterisation of damage mechanisms in oxide ceramics indented at dynamic and quasi-static strain rates

Ceramic materials are known to display rate dependent behaviour under impact. Tests to establish the strain-rate dependent variations in damage mechanisms have been carried out on debased alumina, an alumina-zirconia composite, and 3Y-TZP. Materials were indented dynamically and quasi-statically using identical sharp hardened steel projectiles while recording the load profile. Characteristics typical of both sharp and blunt indentation types were observed using scanning electron microscopy and piezospectroscopic mapping. At dynamic strain rates both the depth of the indentation and the residual stress in the material were lower than for quasi-static tests. This was attributed to temperature-induced softening of the projectile. Unusual behaviour was observed in the 3Y-TZP samples due to the reversible transformation from tetragonal to monoclinic crystal structures during mechanical loading. These effects and the observed superior mechanical strength against impact suggest that zirconia or zirconia-composite materials may have advantages over debased alumina for application as ceramic armour materials

Localized states and interaction induced delocalization in Bose gases with quenched disorder

Very diluted Bose gas placed into a disordered environment falls into a fragmented localized state. At some critical density the repulsion between particles overcomes the disorder. The gas transits into a coherent superfluid state. In this article the geometrical and energetic characteristics of the localized state at zero temperature and the critical density at which the quantum phase transition from the localized to the superfluid state proceeds are found.Comment: 17 pages, 5 figur

The Rewards of Patience: An 822 Day Time Delay in the Gravitational Lens SDSS J1004+4112

We present 107 new epochs of optical monitoring data for the four brightest images of the gravitational lens SDSS J1004+4112 observed between October 2006 and June 2007. Combining this data with the previously obtained light curves, we determine the time delays between images A, B and C. We confirm our previous measurement finding that A leads B by dt_BA=40.6+-1.8 days, and find that image C leads image A by dt_CA=821.6+-2.1 days. The lower limit on the remaining delay is that image D lags image A by dt_AD>1250 days. Based on the microlensing of images A and B we estimate that the accretion disk size at a rest wavelength of 2300 angstrom is 10^{14.8+-0.3} cm for a disk inclination of cos{i}=1/2, which is consistent with the microlensing disk size-black hole mass correlation function given our estimate of the black hole mass from the MgII line width of logM_BH/M_sun=8.44+-0.14. The long delays allow us to fill in the seasonal gaps and assemble a continuous, densely sampled light curve spanning 5.7 years whose variability implies a structure function with a logarithmic slope of gamma = 0.35+-0.02. As C is the leading image, sharp features in the C light curve can be intensively studied 2.3 years later in the A/B pair, potentially allowing detailed reverberation mapping studies of a quasar at minimal cost.Comment: Submitted to ApJ, 12 pages, 3 figure

Conductive structures around Las Cañadas caldera, Tenerife (Canary Islands, Spain) : a structural control

External eastern areas of the Las Cañadas caldera (LCC) of Tenerife (Canary Islands, Spain) have been investigated using the audiomagnetotelluric (AMT) method with the aim to characterize the physical rock properties at shallow depth and the thickness of a first resistive layer. Using the results of 50 AMT tensors carried out in the period range of 0.001 s to 0.3 s, this study provides six unpublished AMT profiles distributed in the upper Orotava valley and data from the Pedro Gil caldera (Dorsal Ridge). Showing obvious 1-D behaviour, soundings have been processed through 1-D modeling and gathered to form profiles. Underlying a resistive cover (150-2000 Om), a conductive layer at shallow depth (18-140 Om, 250-1100 m b.g.l.) which is characterized by a "wavy-like" structure, often parallel to the topography, appears in all profiles. This paper points out the ubiquitous existence in Tenerife of such a conductive layer, which is the consequence of two different processes: a) according to geological data, the enhanced conductivity of the flanks is interpreted as a plastic breccia within a clayish matrix generated during huge lateral collapse; and b) along main tectonic structures and inside calderas, this layer is formed by hidrotermal alteration processes. In both areas, the conductive layer is thought to be related to major structural volcanic events (flank or caldera collapse) and can be seen as a temporal marker of the island evolution. Moreover, its slope suggests possible headwall locations of the giant landslides that affected the flanks of Tenerife

Mid-IR Observations and a Revised Time Delay for the Gravitational Lens System Quasar HE 1104-1805

The mid-IR flux ratios F_A/F_B = 2.84 +/- 0.06 of the two images of the gravitationally lensed quasar HE 1104-1805 show no wavelength dependence to within 3% across 3.6-8.0 um, no time dependence over 6 months and agree with the broad emission line flux ratios. This indicates that the mid-IR emission likely comes from scales large enough to be little affected by microlensing and that there is little differential extinction between the images. We measure a revised time-delay between these two images of 152.2 +2.8-3.0 days from R and V-band data covering 1997 to 2006. This time-delay indicates that the lens has an approximately flat rotation curve over scales of 1-2 R_e. We also observed uncorrelated variations of ~0.05 mag/yr which we attribute to microlensing of the optical emission from the accretion disk. The optical colors have also changed significantly in the sense that image A is now redder than image B, rather than bluer as it was in 1993.Comment: 26 page, 6 figures; this version corrects table 1 which reported incorrect IRAC magnitudes; this change does not affect any result

Thermodynamics of a Bose-Einstein Condensate with Weak Disorder

We consider the thermodynamics of a homogeneous superfluid dilute Bose gas in the presence of weak quenched disorder. Following the zero-temperature approach of Huang and Meng, we diagonalize the Hamiltonian of a dilute Bose gas in an external random delta-correlated potential by means of a Bogoliubov transformation. We extend this approach to finite temperature by combining the Popov and the many-body T-matrix approximations. This approach permits us to include the quasi-particle interactions within this temperature range. We derive the disorder-induced shifts of the Bose-Einstein critical temperature and of the temperature for the onset of superfluidity by approaching the transition points from below, i.e., from the superfluid phase. Our results lead to a phase diagram consistent with that of the finite-temperature theory of Lopatin and Vinokur which was based on the replica method, and in which the transition points were approached from above.Comment: 11 pages, 5 figure

Microlensing of the Lensed Quasar SDSS0924+0219

We analyze V, I and H band HST images and two seasons of R-band monitoring data for the gravitationally lensed quasar SDSS0924+0219. We clearly see that image D is a point-source image of the quasar at the center of its host galaxy. We can easily track the host galaxy of the quasar close to image D because microlensing has provided a natural coronograph that suppresses the flux of the quasar image by roughly an order of magnitude. We observe low amplitude, uncorrelated variability between the four quasar images due to microlensing, but no correlated variations that could be used to measure a time delay. Monte Carlo models of the microlensing variability provide estimates of the mean stellar mass in the lens galaxy (0.02 Msun < M < 1.0 Msun), the accretion disk size (the disk temperature is 5 x 10^4 K at 3.0 x 10^14 cm < rs < 1.4 x 10^15 cm), and the black hole mass (2.0 x 10^7 Msun < MBH \eta_{0.1}^{-1/2} (L/LE)^{1/2} < 3.3 x 10^8 Msun), all at 68% confidence. The black hole mass estimate based on microlensing is consistent with an estimate of MBH = 7.3 +- 2.4 x 10^7 Msun from the MgII emission line width. If we extrapolate the best-fitting light curve models into the future, we expect the the flux of images A and B to remain relatively stable and images C and D to brighten. In particular, we estimate that image D has a roughly 12% probability of brightening by a factor of two during the next year and a 45% probability of brightening by an order of magnitude over the next decade.Comment: v.2 incorporates referee's comments and corrects two errors in the original manuscript. 28 pages, 10 figures, published in Ap