1,214 research outputs found
Corporate Governance, Opaque Bank Activities, and Risk/Return Efficiency: Pre- and Post-Crisis Evidence from Turkey
Does better corporate governance unambiguously improve the risk/return efficiency of banks? Or does either a re-orientation of banks' revenue mix towards more opaque products, an economic downturn, or tighter supervision create off-setting or reinforcing effects? The authors relate bank efficiency to shortfalls from a stochastic risk/return frontier. They analyze how internal governance mechanisms (CEO duality, board experience, political connections, and education profile) and external governance mechanisms (discipline exerted by shareholders, depositors, or skilled employees) determine efficiency in a sample of Turkish banks. The 2000 financial crisis was a wakeup call for bank efficiency and corporate governance. As a result, better corporate governance mechanisms have been able to improve risk/return efficiency when the economic, regulatory, and supervisory environments are more stable and bank products are more complex.corporate governance;bank risk;noninterest income;crisis;frontier
Neural network classification of eigenmodes in the magnetohydrodynamic spectroscopy code Legolas
JDJ was supported by funding from the European Research Council (ERC) under the European Unions Horizon 2020 research and innovation programme, Grant agreement No. 833251 PROMINENT ERC-ADG 2018.A neural network is employed to address a non-binary classification problem of plasma instabilities in astrophysical jets, calculated with the Legolas code. The trained models exhibit reliable performance in the identification of the two instability types supported by these jets. We also discuss the generation of artificial data and refinement of predictions in general eigenfunction classification problems.Peer reviewe
Superspace formulation of general massive gauge theories and geometric interpretation of mass-dependent BRST symmetries
A superspace formulation is proposed for the osp(1,2)-covariant Lagrangian
quantization of general massive gauge theories. The superalgebra os0(1,2) is
considered as subalgebra of sl(1,2); the latter may be considered as the
algebra of generators of the conformal group in a superspace with two
anticommuting coordinates. The mass-dependent (anti)BRST symmetries of proper
solutions of the quantum master equations in the osp(1,2)-covariant formalism
are realized in that superspace as invariance under translations combined with
mass-dependent special conformal transformations. The Sp(2) symmetry - in
particular the ghost number conservation - and the "new ghost number"
conservation are realized as invariance under symplectic rotations and
dilatations, respectively. The transformations of the gauge fields - and of the
full set of necessarily required (anti)ghost and auxiliary fields - under the
superalgebra sl(1,2) are determined both for irreducible and first-stage
reducible theories with closed gauge algebra.Comment: 35 pages, AMSTEX, precision of reference
Nonsense mutations in alpha-II spectrin in three families with juvenile onset hereditary motor neuropathy
Distal hereditary motor neuropathies are a rare subgroup of inherited peripheral neuropathies hallmarked by a length-dependent axonal degeneration of lower motor neurons without significant involvement of sensory neurons. We identified patients with heterozygous nonsense mutations in the alpha II-spectrin gene, SPTAN1, in three separate dominant hereditary motor neuropathy families via next-generation sequencing. Variable penetrance was noted for these mutations in two of three families, and phenotype severity differs greatly between patients. The mutant mRNA containing nonsense mutations is broken down by nonsense-mediated decay and leads to reduced protein levels in patient cells. Previously, dominant-negative alpha II-spectrin gene mutations were described as causal in a spectrum of epilepsy phenotypes
Regularisation, the BV method, and the antibracket cohomology
We review the Lagrangian Batalin--Vilkovisky method for gauge theories. This
includes gauge fixing, quantisation and regularisation. We emphasize the role
of cohomology of the antibracket operation. Our main example is gravity,
for which we also discuss the solutions for the cohomology in the space of
local integrals. This leads to the most general form for the action, for
anomalies and for background charges.Comment: 12 pages, LaTeX, Preprint-KUL-TF-94/2
Recommended from our members
Indentation and oxidation studies on silicon nitride joints
Si nitride ceramics have been joined with a Y oxide-SiO{sub 2} interlayer. A 1:2 molar ratio of Y{sub 2}O{sub 3} to SiO{sub 2} was chosen to obtain the desired Y{sub 2}Si{sub 2}O{sub 7} stoichiometry, which should give the interlayer better oxidation resistance compared to other interlayer materials. Mechanical characterization of the joints performed by indentation shows it to have good room temperature strength
Hidden symmetry in the presence of fluxes
We derive the most general first order symmetry operator for the Dirac
equation coupled to arbitrary fluxes. Such an operator is given in terms of an
inhomogenous form omega which is a solution to a coupled system of first order
partial differential equations which we call the generalized conformal
Killing-Yano system. Except trivial fluxes, solutions of this system are
subject to additional constraints. We discuss various special cases of physical
interest. In particular, we demonstrate that in the case of a Dirac operator
coupled to the skew symmetric torsion and U(1) field, the system of generalized
conformal Killing-Yano equations decouples into the homogenous conformal
Killing-Yano equations with torsion introduced in [arXiv:0905.0722] and the
symmetry operator is essentially the one derived in [arXiv:1002.3616]. We also
discuss the Dirac field coupled to a scalar potential and in the presence of
5-form and 7-form fluxes.Comment: 13 pages, no figure
Conformal and Superconformal Mechanics
We investigate the conformal and superconformal properties of a
non-relativistic spinning particle propagating in a curved background coupled
to a magnetic field and with a scalar potential. We derive the conditions on
the couplings for a large class of such systems which are necessary in order
their actions admit conformal and superconformal symmetry. We find that some of
these conditions can be encoded in the conformal and holomorphic geometry of
the background. Several new examples of conformal and superconformal models are
also given.Comment: 46 pages, Phyzzx.te
Global Anomalies in the Batalin Vilkovisky Quantization
The Batalin Vilkovisky (BV) quantization provides a general procedure for
calculating anomalies associated to gauge symmetries. Recent results show that
even higher loop order contributions can be calculated by introducing an
appropriate regularization-renormalization scheme. However, in its standard
form, the BV quantization is not sensible to quantum violations of the
classical conservation of Noether currents, the so called global anomalies. We
show here that the BV field antifield method can be extended in such a way that
the Ward identities involving divergencies of global Abelian currents can be
calculated from the generating functional, a result that would not be obtained
by just associating constant ghosts to global symmetries. This extension,
consisting of trivially gauging the global Abelian symmetries, poses no extra
obstruction to the solution of the master equation, as it happens in the case
of gauge anomalies. We illustrate the procedure with the axial model and also
calculating the Adler Bell Jackiw anomaly.Comment: We emphasized the fact that our procedure only works for the case of
Abelian global anomalies. Section 3 was rewritten and some references were
added. 12 pages, LATEX. Revised version that will appear in Phys. Rev.
Background gauge invariance in the antifield formalism for theories with open gauge algebras
We show that any BRST invariant quantum action with open or closed gauge
algebra has a corresponding local background gauge invariance. If the BRST
symmetry is anomalous, but the anomaly can be removed in the antifield
formalism, then the effective action possesses a local background gauge
invariance. The presence of antifields (BRST sources) is necessary. As an
example we analyze chiral gravity.Comment: 17pp., Latex, mispelling in my name! corrected, no other change
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