Reverse Hawking-Page Phase Transition in de Sitter Black Holes

In the context of black hole chemistry, we study the thermodynamics of asymptotically de Sitter black holes with conformal scalar hair in Einstein gravity. The hair parameter allows us to attain thermodynamic equilibrium between the event horizon and the cosmological horizon. We find that the system of the black hole and the de Sitter space surrounding it undergo a Reverse Hawking-Page phase transition provided we consider the grand-canonical ensemble.Comment: 17 pages, 6 figures; typos fixed, some added discussion, no changes in physics conclusion

Revenue diversification in emerging market banks: implications for financial performance

Shaped by structural forces of change, banking in emerging markets has recently experienced a decline in its traditional activities, leading banks to diversify into new business strategies. This paper examines whether the observed shift into non-interest based activities improves financial performance. Using a sample of 714 banks across 14 East-Asian and Latin-American countries over the post 1997-crisis changing structure, we find that diversification gains are more than offset by the cost of increased exposure to the non-interest income, specifically by the trading income volatility. But this diversification performance's effect is found to be no linear with risk, and significantly not uniform among banks and across business lines. An implication of these findings is that banking institutions can reap diversification benefits as long as they well-studied it depending on their specific characteristics, competences and risk levels, and as they choose the right niche

Revenue diversification in emerging market banks: implications for financial performance

Shaped by structural forces of change, banking in emerging markets has recently experienced a decline in its traditional activities, leading banks to diversify into new business strategies. This paper examines whether the observed shift into non-interest based activities improves financial performance. Using a sample of 714 banks across 14 East-Asian and Latin-American countries over the post 1997-crisis changing structure, we find that diversification gains are more than offset by the cost of increased exposure to the non-interest income, specifically by the trading income volatility. But this diversification performance's effect is found to be no linear with risk, and significantly not uniform among banks and across business lines. An implication of these findings is that banking institutions can reap diversification benefits as long as they well-studied it depending on their specific characteristics, competences and risk levels, and as they choose the right niche.Diversification revenue; non-interest income; bank performance; emerging markets

Thermalon mediated phase transitions in Gauss-Bonnet gravity

Thermalons can mediate phase transitions between different vacua in higher curvature gravity, potentially changing the asymptotic structure of the spacetime. Treating the cosmological constant as a dynamical parameter, we study these phase transitions in the context of extended thermodynamic phase space. We find that in addition to the AdS to dS phase transitions previously studied, thermal AdS space can undergo a phase transition to an asymptotically flat black hole geometry. In the context of AdS to AdS transitions, we comment on the similarities and differences between thermalon transitions and the Hawking-Page transition.Comment: 20 pages, 11 figures; reference added, corrected to match published versio

Internal resonances in nonlinear nanocantilever arrays under electrostatic actuation

International audienceThe nonlinear dynamics of nanoelectromechanical cantilever arrays is investigated using a comprehensive analytical multiphysics model that takes into account geometric and electrostatic nonlinearities. In particular, the internal resonances between the different cantilevers are analyzed using a multi-modal Galerkin discretization coupled with a perturbation technique. Such systems offer a perfect mechanical synchronization, interesting nonlinear behaviors and exchange of energy between their different components which makes them potential candidates for multi-mass sensing applications

Carbon dioxide emissions mitigation strategies’ performance

The climate change matter is due to Green House Gas Emissions produced essentially by CO2 emissions. To overcome this problem, decision markers developed several policies among them the adoption of energy efficient measures and the development of renewable energies. Using a panel data analysis, this paper tries to investigate the impact of adoption of such solutions on emissions levels for 161 countries during the period 1985-2014. Estimation results demonstrate that the magnitude of emissions reduction is more important for energy efficiency and that the role of renewable energy still insufficient yet. Furthermore, we proved that non-renewable energy, income per capita and population growth are destructive facts of environmental quality

Marchés obligataires et stabilité financière: L'expérience asiatique

Depuis l'avènement de la crise financière de 1997-98, le développement des marchés obligataires d'Asie est au centre d'intérêt des pouvoirs publics. Cet effort reflète la vision dominante mettant récemment l'accent sur l'importance des marchés obligataires domestiques dans la prévention de la fragilité financière dans un contexte d'ouverture aux flux de capitaux. Cet article se propose d'étudier la nature et les mécanismes des liens entre le développement des marchés obligataires et la stabilité financière. L'analyse se focalise sur l'expérience de 9 pays asiatiques sur la période 1997-2007. Les tests couvrent des dimensions spécifiques de développement des marchés obligataires d'une part, et les indicateurs de stabilité financière d'adéquation de capital, de qualité des actifs et e rentabilité, d'autre part. L'étude empirique révèle un rôle significatif des marchés obligataires domestiques dans la réduction de la vulnérabilité financière de la région