The strategic behavior of firms with debt

We empirically study the strategic behavior of levered firms in competitive and noncompetitive environments. We find that regulation induces firms to increase leverage, and this reduces their ability to compete when deregulation occurs. Large and small levered firms adopt different strategies upon deregulation. Whereas more levered small firms charge higher prices to increase margins at the expense of market shares, highly levered large firms prey on their rivals by increasing output and reducing prices to increase their market shares. The difference in their behavior is due to differences in their probability of bankruptcy and their financing constraints.Toldrà-Simats thanks the Spanish Ministerio de Ciencia y Tecnologia for the financial support received (Grant ECO2012-36559) and Fundaci´on Ramon Areces for the research funding (Grant 2015/00442/001)

A genome-wide study of PDZ-domain interactions in C. elegans reveals a high frequency of non-canonical binding

<p>Abstract</p> <p>Background</p> <p>Proteins may evolve through the recruitment and modification of discrete domains, and in many cases, protein action can be dissected at the domain level. PDZ domains are found in many important structural and signaling complexes, and are generally thought to interact with their protein partners through a C-terminal consensus sequence. We undertook a comprehensive search for protein partners of all individual PDZ domains in <it>C. elegans </it>to characterize their function and mode of interaction.</p> <p>Results</p> <p>Coupling high-throughput yeast two-hybrid screens with extensive validation by co-affinity purification, we defined a domain-orientated interactome map. This integrates PDZ domain proteins in numerous cell-signaling pathways and shows that PDZ domain proteins are implicated in an unexpectedly wide range of cellular processes. Importantly, we uncovered a high frequency of non-canonical interactions, not involving the C-terminus of the protein partner, which were directly confirmed in most cases. We completed our study with the generation of a yeast array representing the entire set of PDZ domains from <it>C. elegans </it>and provide a proof-of-principle for its application to the discovery of PDZ domain targets for any protein or peptide of interest.</p> <p>Conclusions</p> <p>We provide an extensive domain-centered dataset, together with a clone resource, that will help future functional study of PDZ domains. Through this unbiased approach, we revealed frequent non-canonical interactions between PDZ domains and their protein partners that will require a re-evaluation of this domain's molecular function.</p> <p>[The protein interactions from this publication have been submitted to the IMEx (<url>http://www.imexconsortium.org</url>) consortium through IntAct (PMID: 19850723) and assigned the identifier IM-14654]</p

Normalized GNSS Interference Pattern Technique

It is well known that water level and snow height can be monitored with the ground reflectometry GNSS-R approach [1, 2]. In this approach the antenna situated on a mast, receives a direct GNSS signal coming from the satellite and a nadir signal reflected by the observed surface. Assuming that the antenna position is known we can compute the position of the surface of reflection. For water level monitoring and snow determination, this approach provides precise localization and dating of the measures that allows to process spatio-temporal comparison of water level and snow cover, respectively. These parameters are very important for flood monitoring, avalanche prevention, as well as for hydroelectic companies. Furthermore the approach is noninvasive and can be easily implemented on a portable instrument and embedded in a vehicle with a mast. The Interference Pattern Technique considers the behavior of the SNR of the received GNSS signal as a function of the satellite elevation [1]. The received signal is indeed the integration by the antenna of the direct and nadir reflected GNSS signals. Due to their different phase variations, the SNR oscillates at a rate proportional to the height between the antenna and the surface of specular reflection. Unfortunately the measurement is typically very long because it needs to process the SNR for high satellite elevation variations. We indeed need to observe a sufficient number of SNR oscillations to estimate the frequency and derive the surface height. In order to reduce the estimation time to a fraction of one period of the SNR variation, we propose to normalize the measures. The normalization consists in varying the antenna height of a value dh in order to read the minimum and maximum value of SNR for a given satellite elevation, and then in processing with these values the SNR measured for different satellite elevations. We show in this paper that the normalization allows to compute the cosine of the phase delay between the direct and reflected signals and to estimate the signal frequency on a fraction of a period. We also derive the minimum antenna variation range dh as a function of the satellite elevation. We deduce from this function the minimum time of observation as a function of the satellite elevation rate. We derive the exact evolution of the SNR as a function of the signals parameters (Doppler frequency, code delay, CN0) of the visible satellites [3]. The proposed method is assessed on real and synthetic signals

Nanostructured silica templated by double hydrophilic block copolymers with a comb-like architecture

An original way to synthesize nanostructured materials is the use of new structuring agents constituted of induced and reversible micelles of Double Hydrophilic Block Copolymers (DHBC). The present paper aims at showing that induced micelles can be obtained by complexation between a PAA-b-PAMPEO (DHBC) polymer containing a comb-type neutral block and a polyamine, that the micellization process is reversible as a function of the pH and finally, that the obtained polyion complex micelles can be successfully used in the preparation of well organized mesostructured silica materials

L'interactome des domaines PDZ de Caenorhabditis elegans

Le domaine PDZ participe aux réseaux moléculaires à l origine de fonctions cellulaires touchées lors de pathologies diverses. L exploration de ce réseau par double hybride a permis d attribuer de nouvelles fonctions putatives aux ligands protéiques des domaines PDZ du ver Caenorhabditis elegans. Les interactions ont laissé apparaitre une proportion inattendue de ligands atypiques interagissant par une séquence interne. Nous avons ensuite validé fonctionnellement in silico des groupes d interactions de notre interactome qui forment des micro-réseaux co-exprimés par l intégration de données de profils d expression. Finalement, ce travail a permis la construction d un outil exploratoire, le PIPE (PDZ Interacting Protein Explorer) qui permet de cribler l ensemble des domaines PDZ du ver à la recherche d interactions avec une protéine d intérêt révélant déjà de nombreuses interactions supplémentaires entre domaines PDZ et ligandsPDZ domains allow the organization of molecular networks responsible for cellular functions essential for multicellularity as polarization or transduction of extracellular signals. Exploration of this network by two-hybrid revealed a functional diversity for ligands of Caenorhabditis elegans s PDZ domains. New putative functions were being observed through GO-terms and an unexpected proportion of internal ligands appeared, confirmed by Co-IP. We then functionally validated in silico groups of interactions that form our interactome microarrays co-expressed by the integration of data from expression profiles. Finally, this work has enabled the construction of an exploratory tool, the PIPE (PDZ Interacting Protein Explorer) that allows screening of all PDZ domains looking for interactions with a protein of interest and had already showed many additional interactions between PDZ domains and ligandsAIX-MARSEILLE2-Bib.electronique (130559901) / SudocSudocFranceF

C. elegans (un organisme modèle "modèle" en génomique fonctionnelle)

MONTPELLIER-BU Pharmacie (341722105) / SudocSudocFranceF

Numerical simulations of the Tayler-Spruit dynamo in proto-magnetars

International audienceThe Tayler-Spruit dynamo is one of the most promising mechanisms proposed to explain angular momentum transport during stellar evolution. Its development in proto-neutron stars spun-up by supernova fallback has also been put forward as a scenario to explain the formation of very magnetized neutron stars called magnetars. Using three-dimensional direct numerical simulations, we model the proto-neutron star interior as a stably stratified spherical Couette flow with the outer sphere that rotates faster than the inner one. We report the existence of two subcritical dynamo branches driven by the Tayler instability. They differ by their equatorial symmetry (dipolar or hemispherical) and the magnetic field scaling, which is in agreement with different theoretical predictions (by Fuller and Spruit, respectively). The magnetic dipole of the dipolar branch is found to reach intensities compatible with observational constraints on magnetars

MRI-driven α−Ω\alpha-\Omega dynamos in protoneutron stars

Magnetars are highly magnetized neutron stars that can produce X-ray and soft gamma-ray emissions and that have a dipole of $10^{14}$ G to $10^{15}$ G. A promising mechanism to explain magnetar formation is magnetic field amplification by the MRI in fast-rotating protoneutron stars (PNS). This scenario is supported by recent global models showing that small-scale turbulence can generate a dipole with magnetar-like intensity. However, the impact of buoyancy and density stratification on the efficiency of the MRI at generating a dipole is still unknown. We assess the impact of the density and entropy profiles on the MRI dynamo in a global model of a fast-rotating PNS, which focuses on its outer stratified region stable to convection. Using the pseudo-spectral code MagIC, we perform three-dimensional Boussinesq and anelastic MHD simulations in spherical geometry with explicit diffusivities. We perform a parameter study in which we investigate the effect of different approximations and of thermal diffusion. We obtain a self-sustained turbulent MRI-driven dynamo, which confirms most of our previous incompressible results once rescaled for density. The MRI also generates a non-dominant equatorial dipole, which represents about 4.3% of the averaged magnetic field strength. Interestingly, in the presence of a density gradient, an axisymmetric magnetic field at large scales oscillates with time, which can be described as a mean-field $\alpha-\Omega$ dynamo. Buoyancy damps turbulence in the equatorial plane but it has overall a relatively weak influence with a realistic high thermal diffusion. Our results support the ability of the MRI to generate magnetar-like large-scale magnetic fields. They furthermore predict the presence of an $\alpha-\Omega$ dynamo in the protoneutron star, which could be important to model in-situ magnetic field amplification in core-collapse supernovae. [abridged