12,021 research outputs found
Optimal Accounting Rules and Efficient Liquidation
We study optimal accounting rules that alleviate inefficiencies caused
by managerial private benefits. Accounting signals generated by the
accounting rules guide the continuation decision at an interim project
stage. The entrepreneur enjoys private benefits from continuation,
which may induce inefficient decisions. The optimal accounting rule
is characterized by a threshold, with a higher threshold representing
more conservative accounting. The first-best is achieved under small
private benefits. As private benefits increase, the first-best eventually
is not achievable and more informative bad news is required for the
manager to terminate, resulting in less conservative accounting rules. Therefore, more conservative accounting rules are associated with more
efficient investment decisions
Design of Compact Planar Diplexer Based on Novel Spiral-Based Resonators
A miniaturized planar diplexer utilizing the novel spiral-based resonators is proposed. The given cell which is initially proposed in this article is composed of two separated rectangular spirals which are asymmetrical to each other and thus, it is called as ‘asymmetrical separated spirals resonator’ (ASSR). ASSR has more superior transmission property than the previous prototype and extremely compact dimension is also achieved. It is demonstrated that ASSR can exhibit bandpass performance with high frequency selectivity and good transmission property within the relatively low frequency band. Based on the given characteristic, one planar diplexer composed of T-junction and two ASSRs is synthesized and the fabricated prototype with compact dimension is achieved, thanks to ASSRs explored. Simultaneously, the transversal dimension of each channel is extremely compact because ASSRs are completely embedded in the feed lines. Both the simulated and measured results indicate that satisfactory impedance matching and high isolation between two channels are achieved. Furthermore, the proposed diplexer is uniplanar and no defected ground structure is introduced
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