THE IMPACT OF CREDIT RATING CHANGE ON NORTH AMERICAN COMPANIES\u27 CORPORATE DECISION AND STOCK PERFORMANCE

This paper analyses the impact of credit rating changes from two aspects. Firstly,credit rating will impact company capital structure decisions. It is found thatcompanies generally issue more debt when forecasting a credit downgrade totake the advantage of the relatively low cost of capital, while a small number offirms keep corporate structure unchanged due to flexibility concerns. Secondly,there is an offset pattern in daily abnormal returns and volatility of stock returnsincreases after a credit rating change event. Specifically, downgrade has abigger impact on stock performance

Historic Costume Simulation and its Application

This study highlights the potential of new technology as a means to provide new possibility for costumes in fragile condition to be utilised. The aim of this study is to create accurate digital duplicates of costumes from historical sources, and to explore the possibility of developing them as an exhibitory and educational method applying 3D apparel CAD and new media. To achieve this, three attributes for qualities of effective digital costumes were suggested: faithful reproduction, virtual fabrication, and interactive and stereographic appreciation. Based on these qualities, digital costumes and a PC application were produced and evaluated

An Aharonov-Bohm interferometer for determining Bloch band topology

The geometric structure of an energy band in a solid is fundamental for a wide range of many-body phenomena in condensed matter and is uniquely characterized by the distribution of Berry curvature over the Brillouin zone. In analogy to an Aharonov-Bohm interferometer that measures the magnetic flux penetrating a given area in real space, we realize an atomic interferometer to measure Berry flux in momentum space. We demonstrate the interferometer for a graphene-type hexagonal lattice, where it has allowed us to directly detect the singular $\pi$ Berry flux localized at each Dirac point. We show that the interferometer enables one to determine the distribution of Berry curvature with high momentum resolution. Our work forms the basis for a general framework to fully characterize topological band structures and can also facilitate holonomic quantum computing through controlled exploitation of the geometry of Hilbert space.Comment: 5+5 page

Evaluating metabolites in patients with major depressive disorder who received mindfulness-based cognitive therapy and healthy controls using short echo MRSI at 7 Tesla.

ObjectivesOur aim was to evaluate differences in metabolite levels between unmedicated patients with major depressive disorder (MDD) and healthy controls, to assess changes in metabolites in patients after they completed an 8-week course of mindfulness-based cognitive therapy (MBCT), and to exam the correlation between metabolites and depression severity.Materials and methodsSixteen patients with MDD and ten age- and gender-matched healthy controls were studied using 3D short echo-time (20 ms) magnetic resonance spectroscopic imaging (MRSI) at 7 Tesla. Relative metabolite ratios were estimated in five regions of interest corresponding to insula, anterior cingulate cortex (ACC), caudate, putamen, and thalamus.ResultsIn all cases, MBCT reduced severity of depression. The ratio of total choline-containing compounds/total creatine (tCr) in the right caudate was significantly increased compared to that in healthy controls, while ratios of N-acetyl aspartate (NAA)/tCr in the left ACC, myo-inositol/tCr in the right insula, and glutathione/tCr in the left putamen were significantly decreased. At baseline, the severity of depression was negatively correlated with my-inositol/tCr in the left insula and putamen. The improvement in depression severity was significantly associated with changes in NAA/tCr in the left ACC.ConclusionsThis study has successfully evaluated regional differences in metabolites for patients with MDD who received MBCT treatment and in controls using 7 Tesla MRSI

Structural Relationship between Negative Thermal Expansion and Quartic Anharmonicity of Cubic ScF_3

Cubic scandium trifluoride (ScF_3) has a large negative thermal expansion over a wide range of temperatures. Inelastic neutron scattering experiments were performed to study the temperature dependence of the lattice dynamics of ScF3 from 7 to 750 K. The measured phonon densities of states show a large anharmonic contribution with a thermal stiffening of modes around 25 meV. Phonon calculations with first-principles methods identified the individual modes in the densities of states, and frozen phonon calculations showed that some of the modes with motions of F atoms transverse to their bond direction behave as quantum quartic oscillators. The quartic potential originates from harmonic interatomic forces in the DO_9 structure of ScF_3, and accounts for phonon stiffening with the temperature and a significant part of the negative thermal expansion

Control of Integrable Hamiltonian Systems and Degenerate Bifurcations

We discuss control of low-dimensional systems which, when uncontrolled, are integrable in the Hamiltonian sense. The controller targets an exact solution of the system in a region where the uncontrolled dynamics has invariant tori. Both dissipative and conservative controllers are considered. We show that the shear flow structure of the undriven system causes a Takens-Bogdanov birfurcation to occur when control is applied. This implies extreme noise sensitivity. We then consider an example of these results using the driven nonlinear Schrodinger equation.Comment: 25 pages, 11 figures, resubmitted to Physical Review E March 2004 (originally submitted June 2003), added content and reference