“Stock PIKs”- Taking a firm by its tails

Payment-in-kind bonds (PIKs) make interest payments in the form of an issue of additional bonds rather than cash. This research provides a rationale for the recent PIK issuance by firms with low credit ratings. PIKs offer a financially constrained firm in need of restructuring both an immediate automatic stay and a prepackaged bankruptcy procedure, features that make PIKs better than alternative debt instruments. In many instances PIKs are structured to facilitate a contingent transfer of control to PIK holders, and provide an avenue of obtaining equity in the firm whether the firm value is high or low in the future. The barbell strategy of acquisition that involves a deal with the equity holders (if the firm prospects improve), and a deal with the debt holders (if the firm defaults) dominates the cost of acquisition before the firm defaults, or after the firm goes bankrupt.Monetary Policy, Stock Market, Economic Development

The study of multifragmentation around transition energy in intermediate energy heavy-ion collisions

Fragmentation of light charged particles is studied for various systems at different incident energies between 50 and 1000 MeV/nucleon. We analyze fragment production at incident energies above, below and at transition energies using the isospin dependent quantum molecular dynamics(IQMD) model. The trends observed for the fragment production and rapidity distributions depend upon the incident energy, size of the fragments, composite mass of the reacting system as well as on the impact parameter of the reaction. The free nucleons and light charged particles show continous homogeneous changes irrespective of the transition energies indicating that there is no relation between the transition energy and production of the free as well as light charged particles

Analysis of Input Impedance and Mutual Coupling of Microstrip Antennas on Multilayered Circular Cylinders Using Closed-Form Green’s Function Representations

Cataloged from PDF version of article.Closed-form Green’s function (CFGF) representations for cylindrically stratified media are developed and used in conjunction with a Galerkinmethod ofmoments (MoM)in the space domain for the analysis of microstrip antennas on multilayered circular cylinders. An attachment mode is used in the MoM solution procedure to accurately model the feeding of probe-fed microstrip antennas. The developed CFGF representations are modified in the source region (where two current modes can partially or fully overlap with each other during the MoM procedure) so that singularities can be treated analytically and hence, the proposed CFGF representations can be safely used in this region. Furthermore, accurate CFGF representations for the probe-related components (necessary for probe type excitations including the attachment mode) are obtained when the radial distance between the source and field points is electrically small or zero. Numerical results in the form of input impedance of various microstrip antennas and the mutual coupling between two antennas are presented showing good agreement when compared to the available published results as well as the results obtained from CST Microwave Studio

Ha-Ras stimulates uptake and phosphorylation of ethanolamine: inhibition by wortmannin

AbstractTransformation of NIH 3T3 fibroblasts by Ha-Ras resulted in large increases in the phosphorylation of both [14C]ethanolamine (Etn) and [14C]choline (Cho) when these precursors were added to the medium. Wortmannin, an inhibitor of phosphatidylinositol 3-kinase (P13K), preferentially decreased phosphorylation of externally added Etn in the Ha-Ras transformed, but not in the untransformed, fibroblasts. However, wortmannin had no effect on the phosphorylation of Etn formed endogenously by phorbol ester-stimulated hydrolysis of phosphatidylethanolamine. Data suggest that interaction of mutated Ras with PI3K leads to specific stimulation of Etn uptake, followed by nearly quantitative phosphorylation of Etn by a Ras-activated Cho/Etn kinase

Adaptive stochastic-deterministic chemical kinetic simulations

Motivation: Biochemical signaling pathways and genetic circuits often involve very small numbers of key signaling molecules. Computationally expensive stochastic methods are necessary to simulate such chemical situations. Single-molecule chemical events often co-exist with much larger numbers of signaling molecules where mass-action kinetics is a reasonable approximation. Here, we describe an adaptive stochastic method that dynamically chooses between deterministic and stochastic calculations depending on molecular count and propensity of forward reactions. The method is fixed timestep and has first order accuracy. We compare the efficiency of this method with exact stochastic methods. Results: We have implemented an adaptive stochastic-deterministic approximate simulation method for chemical kinetics. With an error margin of 5%, the method solves typical biologically constrained reaction schemes more rapidly than exact stochastic methods for reaction volumes >1-10 μm3. We have developed a test suite of reaction cases to test the accuracy of mixed simulation methods

Ordered Rate Constitutive Theories for Non-Classical Thermofluids Based on Convected Time Derivatives of the Strain and Higher Order Rotation Rate Tensors Using Entropy Inequality

This work is licensed under a Creative Commons Attribution 4.0 International License.This paper considers non-classical continuum theory for thermoviscous fluids without memory incorporating internal rotation rates resulting from the antisymmetric part of the velocity gradient tensor to derive ordered rate constitutive theories for the Cauchy stress and the Cauchy moment tensor based on entropy inequality and representation theorem. Using the generalization of the conjugate pairs in the entropy inequality, the ordered rate constitutive theory for Cauchy stress tensor considers convected time derivatives of the Green’s strain tensor (or Almansi strain tensor) of up to orders nε as its argument tensors and the ordered rate constitutive theory for the Cauchy moment tensor considers convected time derivatives of the symmetric part of the rotation gradient tensor up to orders nΘ . While the convected time derivatives of the strain tensors are well known the convected time derivatives of higher orders of the symmetric part of the rotation gradient tensor need to be derived and are presented in this paper. Complete and general constitutive theories based on integrity using conjugate pairs in the entropy inequality and the generalization of the argument tensors of the constitutive variables and the representation theorem are derived and the material coefficients are established. It is shown that for the type of non-classical thermofluids considered in this paper the dissipation mechanism is an ordered rate mechanism due to convected time derivatives of the strain tensor as well as the convected time derivatives of the symmetric part of the rotation gradient tensor. The derivations of the constitutive theories presented in the paper is basis independent but can be made basis specific depending upon the choice of the specific basis for the constitutive variables and the argument tensors. Simplified linear theories are also presented as subset of the general constitutive theories and are compared with published works

Consistency and Validity of the Mathematical Models and the Solution Methods for BVPs and IVPs Based on Energy Methods and Principle of Virtual Work for Homogeneous Isotropic and Non-Homogeneous Non-Isotropic Solid Continua

Energy methods and the principle of virtual work are commonly used for obtaining solutions of boundary value problems (BVPs) and initial value problems (IVPs) associated with homogeneous, isotropic and non-homogeneous, non-isotropic matter without using (or in the absence of) the mathematical models of the BVPs and the IVPs. These methods are also used for deriving mathematical models for BVPs and IVPs associated with isotropic, homogeneous as well as non-homogeneous, non-isotropic continuous matter. In energy methods when applied to IVPs, one constructs energy functional (I) consisting of kinetic energy, strain energy and the potential energy of loads. The first variation of this energy functional (δI) set to zero is a necessary condition for an extremum of I. In this approach one could use δI = 0 directly in constructing computational processes such as the finite element method or could derive Euler’s equations (differential or partial differential equations) from δI = 0, which is also satisfied by a solution obtained from δI = 0. The Euler’s equations obtained from δI = 0 indeed are the mathematical model associated with the energy functional I. In case of BVPs we follow the same approach except in this case, the energy functional I consists of strain energy and the potential energy of loads. In using the principle of virtual work for BVPs and the IVPs, we can also accomplish the same as described above using energy methods. In this paper we investigate consistency and validity of the mathematical models for isotropic, homogeneous and non-isotropic, non-homogeneous continuous matter for BVPs that are derived using energy functional consisting of strain energy and the potential energy of loads. Similar investigation is also presented for IVPs using energy functional consisting of kinetic energy, strain energy and the potential energy of loads. The computational approaches for BVPs and the IVPs designed using energy functional and principle of virtual work, their consistency and validity are also investigated. Classical continuum mechanics (CCM) principles i.e. conservation and balance laws of CCM with consistent constitutive theories and the elements of calculus of variations are employed in the investigations presented in this paper