9,005 research outputs found
Contingent Claims Valuation of Corporate Liabilities: Theory and Empirical Tests
Although the Contingent Claims Analysis model has become the premier theory of how value is allocated among claimants on firms,its empirical validity remains an open question. In addition to being of academic interest, a test of the model would have significant practical implications. If it can be established that the model predicts actual market prices, then the model can be used to price new and untraded claims, to infer firm values from prices of traded claims like equity and to price covenants separately. In this paper evidence is presented on how well a model which makes the usual assumptions in the literature does in predicting market prices for claims in standard capital structures. The results suggest that the usual assumption list requires modification before it can serve as a basis for valuing corporate claims.
Orbital order, stacking defects and spin-fluctuations in the -electron molecular solid RbO
We examine magnon and orbiton behavior in localized O anti-bonding
molecular orbitals using an effective Kugel-Khomskii Hamiltonian
derived from a two band Hubbard model with hopping parameters taken from {\em
ab initio} density functional calculations. The considerable difference between
intraband and interband hoppings leads to a strong coupling between the spin
wave dispersion and the orbital ground state, providing a straightforward way
of experimentally determining the orbital ground state from the measured magnon
dispersion. The near degeneracy of different orbital ordered states leads to
stacking defects which further modulate spin-fluctuation spectra. Proliferation
of orbital domains disrupts long-range magnetic order, thus causing a
significant reduction in the observed N\'eel temperature.Comment: 5 pages, 2 figure
Critical Self-Organized Self-Sustained Oscillations in Large Regulatory Networks: Towards Understanding the Gene Expression Initiation
In this paper, a new model of self-organized criticality is introduced. This model, called the gene expression paradigm, is motivated by the problem of gene expression initiation in the newly-born daughter cells after mitosis. The model is fundamentally different in dynamics and properties from the well known sand-pile paradigm. Simulation experiments demonstrate that a critical total number of proteins exists below which transcription is impossible. Above this critical threshold, the system enters the regime of self-sustained oscillations with standard deviations and periods proportional to the genes’ complexities with probability one. The borderline between these two regimes is very sharp. Importantly, such a self-organization emerges without any deterministic feedback loops or external supervision, and is a result of completely random redistribution of proteins between inactive genes. Given the size of the genome, the domain of self-organized oscillatory motion is also limited by the genes’ maximal complexities. Below the critical complexity, all the regimes of self-organized oscillations are self-similar and largely independent of the genes’ complexities. Above the level of critical complexity, the whole-genome transcription is impossible. Again, the borderline between the domains of oscillations and quiescence is very sharp. The gene expression paradigm is an example of cellular automata with the domain of application potentially far beyond its biological context. The model seems to be simple enough for staging an experiment for verification of its remarkable properties
Phase behaviour of additive binary mixtures in the limit of infinite asymmetry
We provide an exact mapping between the density functional of a binary
mixture and that of the effective one-component fluid in the limit of infinite
asymmetry. The fluid of parallel hard cubes is thus mapped onto that of
parallel adhesive hard cubes. Its phase behaviour reveals that demixing of a
very asymmetric mixture can only occur between a solvent-rich fluid and a
permeated large particle solid or between two large particle solids with
different packing fractions. Comparing with hard spheres mixtures we conclude
that the phase behaviour of very asymmetric hard-particle mixtures can be
determined from that of the large component interacting via an adhesive-like
potential.Comment: Full rewriting of the paper (also new title). 4 pages, LaTeX, uses
revtex, multicol, epsfig, and amstex style files, to appear in Phys. Rev. E
(Rapid Comm.
Lattice density-functional theory of surface melting: the effect of a square-gradient correction
I use the method of classical density-functional theory in the
weighted-density approximation of Tarazona to investigate the phase diagram and
the interface structure of a two-dimensional lattice-gas model with three
phases -- vapour, liquid, and triangular solid. While a straightforward
mean-field treatment of the interparticle attraction is unable to give a stable
liquid phase, the correct phase diagram is obtained when including a suitably
chosen square-gradient term in the system grand potential. Taken this theory
for granted, I further examine the structure of the solid-vapour interface as
the triple point is approached from low temperature. Surprisingly, a novel
phase (rather than the liquid) is found to grow at the interface, exhibiting an
unusually long modulation along the interface normal. The conventional
surface-melting behaviour is recovered only by artificially restricting the
symmetries being available to the density field.Comment: 16 pages, 6 figure
Formulation and error analysis for a generalized image point correspondence algorithm
A Generalized Image Point Correspondence (GIPC) algorithm, which enables the determination of 3-D motion parameters of an object in a configuration where both the object and the camera are moving, is discussed. A detailed error analysis of this algorithm has been carried out. Furthermore, the algorithm was tested on both simulated and video-acquired data, and its accuracy was determined
Epigenomic Regulation of Androgen Receptor Signaling: Potential Role in Prostate Cancer Therapy.
Androgen receptor (AR) signaling remains the major oncogenic pathway in prostate cancer (PCa). Androgen-deprivation therapy (ADT) is the principle treatment for locally advanced and metastatic disease. However, a significant number of patients acquire treatment resistance leading to castration resistant prostate cancer (CRPC). Epigenetics, the study of heritable and reversible changes in gene expression without alterations in DNA sequences, is a crucial regulatory step in AR signaling. We and others, recently described the technological advance Chem-seq, a method to identify the interaction between a drug and the genome. This has permitted better understanding of the underlying regulatory mechanisms of AR during carcinogenesis and revealed the importance of epigenetic modifiers. In screening for new epigenomic modifiying drugs, we identified SD-70, and found that this demethylase inhibitor is effective in CRPC cells in combination with current therapies. The aim of this review is to explore the role of epigenetic modifications as biomarkers for detection, prognosis, and risk evaluation of PCa. Furthermore, we also provide an update of the recent findings on the epigenetic key processes (DNA methylation, chromatin modifications and alterations in noncoding RNA profiles) involved in AR expression and their possible role as therapeutic targets
Density Functional for Anisotropic Fluids
We propose a density functional for anisotropic fluids of hard body
particles. It interpolates between the well-established geometrically based
Rosenfeld functional for hard spheres and the Onsager functional for elongated
rods. We test the new approach by calculating the location of the the
nematic-isotropic transition in systems of hard spherocylinders and hard
ellipsoids. The results are compared with existing simulation data. Our
functional predicts the location of the transition much more accurately than
the Onsager functional, and almost as good as the theory by Parsons and Lee. We
argue that it might be suited to study inhomogeneous systems.Comment: To appear in J. Physics: Condensed Matte
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