Stock price informativeness, cross-listings and investment decisions

In this paper, the authors show that a cross-listing allows a firm to make better investment decisions because it enhances stock price informativeness.Cross-listings; cross-listings premium; price informativeness; investment decisions; flow-back; ownership.

From Toda to KdV

For periodic Toda chains with a large number $N$ of particles we consider states which are $N^{-2}$-close to the equilibrium and constructed by discretizing arbitrary given $C^2-$functions with mesh size $N^{-1}.$ Our aim is to describe the spectrum of the Jacobi matrices $L\_N$ appearing in the Lax pair formulation of the dynamics of these states as $N \to \infty$. To this end we construct two Hill operators $H\_\pm$ -- such operators come up in the Lax pair formulation of the Korteweg-de Vries equation -- and prove by methods of semiclassical analysis that the asymptotics as $N \rightarrow \infty$ of the eigenvalues at the edges of the spectrum of $L\_N$ are of the form $\pm (2-(2N)^{-2} \lambda ^\pm \_n + \cdots )$ where $(\lambda ^\pm \_n)\_{n \geq 0}$ are the eigenvalues of $H\_\pm$. In the bulk of the spectrum, the eigenvalues are $o(N^{-2})$-close to the ones of the equilibrium matrix. As an application we obtain asymptotics of a similar type of the discriminant, associated to $L\_N$

Characterizing SASI- and Convection-Dominated Core-Collapse Supernova Explosions in Two Dimensions

The success of the neutrino mechanism of core-collapse supernovae relies on the supporting action of two hydrodynamic instabilities: neutrino-driven convection and the Standing Accretion Shock Instability (SASI). Depending on the structure of the stellar progenitor, each of these instabilities can dominate the evolution of the gain region prior to the onset of explosion, with implications for the ensuing asymmetries. Here we examine the flow dynamics in the neighborhood of explosion by means of parametric two-dimensional, time-dependent hydrodynamic simulations for which the linear stability properties are well understood. We find that systems for which the convection parameter is sub-critical (SASI-dominated) develop explosions once large-scale, high-entropy bubbles are able to survive for several SASI oscillation cycles. These long-lived structures are seeded by the SASI during shock expansions. Finite-amplitude initial perturbations do not alter this outcome qualitatively, though they can lead to significant differences in explosion times. Supercritical systems (convection-dominated) also explode by developing large-scale bubbles, though the formation of these structures is due to buoyant activity. Non-exploding systems achieve a quasi-steady state in which the time-averaged flow adjusts itself to be convectively sub-critical. We characterize the turbulent flow using a spherical Fourier-Bessel decomposition, identifying the relevant scalings and connecting temporal and spatial components. Finally, we verify the applicability of these principles on the general relativistic, radiation-hydrodynamic simulations of Mueller, Janka, & Heger (2012), and discuss implications for the three-dimensional case.Comment: accepted by MNRAS with minor change

Logical segmentation for article extraction in digitized old newspapers

Newspapers are documents made of news item and informative articles. They are not meant to be red iteratively: the reader can pick his items in any order he fancies. Ignoring this structural property, most digitized newspaper archives only offer access by issue or at best by page to their content. We have built a digitization workflow that automatically extracts newspaper articles from images, which allows indexing and retrieval of information at the article level. Our back-end system extracts the logical structure of the page to produce the informative units: the articles. Each image is labelled at the pixel level, through a machine learning based method, then the page logical structure is constructed up from there by the detection of structuring entities such as horizontal and vertical separators, titles and text lines. This logical structure is stored in a METS wrapper associated to the ALTO file produced by the system including the OCRed text. Our front-end system provides a web high definition visualisation of images, textual indexing and retrieval facilities, searching and reading at the article level. Articles transcriptions can be collaboratively corrected, which as a consequence allows for better indexing. We are currently testing our system on the archives of the Journal de Rouen, one of France eldest local newspaper. These 250 years of publication amount to 300 000 pages of very variable image quality and layout complexity. Test year 1808 can be consulted at plair.univ-rouen.fr.Comment: ACM Document Engineering, France (2012

Dynamics and rheology of a dilute suspension of vesicles: higher order theory

Vesicles under shear flow exhibit various dynamics: tank-treading ($tt$), tumbling ($tb$) and vacillating-breathing ($vb$). A consistent higher order theory reveals a direct bifurcation from $tt$ to $tb$ if $C_a\equiv \tau \dot\gamma$ is small enough ($\tau$= vesicle relaxation time towards equilibrium shape, $\dot\gamma$=shear rate). At larger $C_a$ the $tb$ is preceded by the $vb$ mode. For $C_a\gg 1$ we recover the leading order original calculation, where the $vb$ mode coexists with $tb$. The consistent calculation reveals several quantitative discrepancies with recent works, and points to new features. We analyse rheology and find that the effective viscosity exhibits a minimum at $tt-tb$ and $tt-vb$ bifurcation points.Comment: 4 pages, 5 figure