The determinants of intrafirm trade: Evidence from French firms

How well does the theory of the firm explain the choice between intrafirm and arms' length trade? This paper uses firm-level import data from France to look into this question. We find support for three key predictions of property-rights theories of the multinational firm. Intrafirm imports are more likely: (i) in capital- and skill-intensive firms; (ii) in highly productive firms; (iii) from countries with well-functioning judicial institutions. We further bridge previous aggregate findings with our investigation by decomposing intrafirm imports into an extensive and intensive margin. Doing so we uncover interesting patterns in the data that require further theoretical investigation.intrafirm trade; outsourcing; firm heterogeneity; incomplete contracts; internationalization strategies; quality of institutions, extensive margin, intensive margin.

Possible resonance free lattices for the VLHC

A systematic search for resonance-free lattices has been performed. Numerous solutions exist for sets of about fifty cells. A VLHC-like machine could be made of blocks of 61 cells which are free from resonances up to tenth order. A tracking test shows a 20% improvement of the dynamic aperture with respect to standard cells, for several multi-pole components. It opens the possibility of relaxing the constraints on systematic multipole components for the cells. The tolerances on field quality will then be by chromatic and an-harmonic effects of the mul-tipole components

MUNICIPAL CORPORATIONS - OFFICIAL MISCONDUCT AS GROUND FOR REMOVAL OF OFFICER

Plaintiff, a member of the council of the city of Highland Park, Michigan, was removed by the council, as provided in the charter because of membership in the Black Legion. The Black Legion was a secret society founded on principles of racial, religious, and political discrimination. Its members took an oath to further these purposes by any means ordered by the officers of the organization, including violence and terrorism. Members were forbidden to expose the organization under penalty of death, and membership was supposedly permanent. The council found that membership in such a society rendered Wilson incompetent to perform the duties of his office, and that it constituted corrupt and wilful malfeasance in office, and wilful misconduct to the injury of the public service. The action of the council was affirmed by the circuit court. On appeal, it was held that the removal proceeding should be quashed. The majority of the court found that there was no official misconduct. The dissent took the view that by becoming a member of the Black Legion, plaintiff circumscribed his liberty of action in such a way that he would be unable to act in the interest of the public at large. Wilson v. Council of Highland Park, 284 Mich. 96, 278 N. W. 778 (1938)

CONSTITUTIONAL LAW - OIL AND GAS - VALIDITY OF WELL-SPACING ACT - PROPORTIONATE SHARING OF PROCEEDS BY OWNERS OF LAND IN STATUTORY DRILLING UNIT

Acting under the Well-Spacing Act, the Corporation Commission of Oklahoma divided certain rural oil areas into tenacre drilling units. Plaintiff owned six and one-quarter acres of a drilling unit, and the well, located in the center of the unit, was wholly on his land. The statute provided that each of the various owners of tracts making up a drilling unit should share in the oil royalties in the proportion that the acreage of his tract bore to the total acreage of the drilling unit. Plaintiff sought to recover all the royalty on oil produced from the well, contending that the statute and order violated the contract, due process and equal protection clauses of the Federal Constitution. The Oklahoma court held the statute and order valid as a reasonable exercise of the police power. On appeal to the Supreme Court of the United States, it was held that no substantial federal question had been raised, and the appeal was dismissed for want of jurisdiction. Patterson v. Stanolind Oil & Gas Co., (U.S. 1939) 59 S. Ct. 259

CORPORATIONS - STOCKHOLDERS\u27 SUITS - EFFECT OF \u3cem\u3eErie Railroad v. Tompkins\u3c/em\u3e ON FEDERAL EQUITY RULE 27

Plaintiffs filed a stockholders\u27 bill in federal equity court to enforce certain rights of Hearst Consolidated Publications, Inc., a Delaware corporation. The individual defendants, directors of the corporation, were charged with having effected a plan to sell various Hearst properties to the corporation at excessive prices. Defendants moved to strike from the bill of complaint paragraphs referring to transactions which occurred prior to the date when plaintiffs acquired their stock. The motion was based on equity rule 27. The contention of counsel for plaintiffs was that rule 27 is based on the federal general law, which on this point conflicts with the local general law of both New York and Delaware; and that under Erie Railroad v. Tompkins, the court should apply the local general law. In the opinion of the court, it was bound to apply rule 27, so long as the Supreme Court of the United States left the rule in force. Held, defendants\u27 motion denied, not because equity rule 27 did not apply, but because its application in the particular situation would be inequitable. Summers v. Hearst, (D. C. N. Y. 1938) 23 F. Supp. 986

Robustness of Resonance Free Lattices Against Gradient Errors

Resonance-free lattices make it possible to cancel the effect of non-linear resonances due to systematic multipoles in an alternating gradient circular machine. These lattices are made of identical cells with specified phase advances. It is therefore mandatory to examine to what extent the property remains valid in presence of gradient errors. In the case of LHC, three times the nominal gradient errors are acceptable from the point of view of both a3 and b4 components

Is LEP beam-beam limited at its highest energy?

The operation of LEP at 45.6 GeV was limited by beam-beam effects and the vertical beam-beam parameter xy never exceeded 0.045. At the highest energy of 94.5 GeV, the increased damping allows higher beam-beam parameters xy . Values above 0.07 in the vertical plane averaged over four experiments have been obtained frequently with peak values up to 0.075 in a single experiment. Although the maximum intensity in LEP is presently limited by technical considerations, some observations indicate that the beam-beam limit is close and the question of the maximum possible values can be raised. These observations are shown in this paper and possible consequences are presented. The optimum operation of LEP in the neighbourhood of the beam-beam limit is discussed

Derived categories of cubic fourfolds

We discuss the structure of the derived category of coherent sheaves on cubic fourfolds of three types: Pfaffian cubics, cubics containing a plane and singular cubics, and discuss its relation to the rationality of these cubics.Comment: 18 page