5 research outputs found

    The short term debt vs. long term debt puzzle: a model for the optimal mix

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    This paper argues that the existing finance literature is inadequate with respect to its coverage of capital structure of small and medium sized enterprises (SMEs). In particular it is argued that the cost of equity (being both conceptually ill defined and empirically non quantifiable) is not applicable to the capital structure decisions for a large proportion of SMEs and the optimal capital structure depends only on the mix of short and long term debt. The paper then presents a model, developed by practitioners for optimising the debt mix and demonstrates its practical application using an Italian firm's debt structure as a case study

    Fluorescent Nanodiamonds Synthesized in One-Step by Pulsed Laser Ablation of Graphite in Liquid-Nitrogen

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    In this work, we present a relevant upgrade to the technique of pulsed laser ablation of fluorescent nanodiamonds (NDs), relying on an automatized graphite-target movement maintaining a constant level of liquid nitrogen over its surface during hours of deposition. Around 60 mg of NDs nanopowder was synthesized and optomagnetically characterized to assess its optical quality. Chemical purification of the ablated nanopowders, which removes the graphitic byproducts, permits to obtain pure fluorescent NDs with an efficiency of 7 ± 1% with respect to the total nanopowder mass. This value compares positively with the efficiency of other commercial NDs synthesis techniques such as detonation, cavitation, and high pressure–high temperature
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