Firm-Specific Variation and Openness in Emerging Markets

This paper compares the comovement of individual stock returns across emerging markets. Campbell et al. (2001) and Morck et al. (2000) show that the US in the post war period saw rising firm specific stock return variations and thus declining comovement. We detect a similar, albeit weaker, pattern in most, but not all, emerging markets. We further find that higher firm-specific variation is associated with greater capital market openness, but not goods market openness. Moreover, this relationship is magnified by institutional integrity (good government). Goods market openness is associated with higher market-wide variation.http://deepblue.lib.umich.edu/bitstream/2027.42/40009/3/wp623.pd

Firm-Specific Variation and Openness in Emerging Markets

This paper compares the comovement of individual stock returns across emerging markets. Campbell et al. (2001) and Morck et al. (2000) show that the US in the post war period saw rising firm specific stock return variations and thus declining comovement. We detect a similar, albeit weaker, pattern in most, but not all, emerging markets. We further find that higher firm-specific variation is associated with greater capital market openness, but not goods market openness. Moreover, this relationship is magnified by institutional integrity (good government). Goods market openness is associated with higher market-wide variation.

Weak KAM for commuting Hamiltonians

For two commuting Tonelli Hamiltonians, we recover the commutation of the Lax-Oleinik semi-groups, a result of Barles and Tourin ([BT01]), using a direct geometrical method (Stoke's theorem). We also obtain a "generalization" of a theorem of Maderna ([Mad02]). More precisely, we prove that if the phase space is the cotangent of a compact manifold then the weak KAM solutions (or viscosity solutions of the critical stationary Hamilton-Jacobi equation) for G and for H are the same. As a corrolary we obtain the equality of the Aubry sets, of the Peierls barrier and of flat parts of Mather's $\alpha$ functions. This is also related to works of Sorrentino ([Sor09]) and Bernard ([Ber07b]).Comment: 23 pages, accepted for publication in NonLinearity (january 29th 2010). Minor corrections, fifth part added on Mather's $\alpha$ function (or effective Hamiltonian

Switchable opening and closing of a liquid marble via ultrasonic levitation

Liquid marbles have promising applications in the field of microreactors, where the opening and closing of their surfaces plays a central role. We have levitated liquid water marbles using an acoustic levitator and, thereby, achieved the manipulation of the particle shell in a controlled manner. Upon increasing the sound intensity, the stable levitated liquid marble changes from a quasi-sphere to a flattened ellipsoid. Interestingly, a cavity on the particle shell can be produced on the polar areas, which can be completely healed when decreasing the sound intensity, allowing it to serve as a microreactor. The integral of the acoustic radiation pressure on the part of the particle surface protruding into air is responsible for particle migration from the center of the liquid marble to the edge. Our results demonstrate that the opening and closing of the liquid marble particle shell can be conveniently achieved via acoustic levitation, opening up a new possibility to manipulate liquid marbles coated with non-ferromagnetic particles

Constructing IGA-suitable planar parameterization from complex CAD boundary by domain partition and global/local optimization

In this paper, we propose a general framework for constructing IGA-suitable planar B-spline parameterizations from given complex CAD boundaries consisting of a set of B-spline curves. Instead of forming the computational domain by a simple boundary, planar domains with high genus and more complex boundary curves are considered. Firstly, some pre-processing operations including B\'ezier extraction and subdivision are performed on each boundary curve in order to generate a high-quality planar parameterization; then a robust planar domain partition framework is proposed to construct high-quality patch-meshing results with few singularities from the discrete boundary formed by connecting the end points of the resulting boundary segments. After the topology information generation of quadrilateral decomposition, the optimal placement of interior B\'ezier curves corresponding to the interior edges of the quadrangulation is constructed by a global optimization method to achieve a patch-partition with high quality. Finally, after the imposition of C1=G1-continuity constraints on the interface of neighboring B\'ezier patches with respect to each quad in the quadrangulation, the high-quality B\'ezier patch parameterization is obtained by a C1-constrained local optimization method to achieve uniform and orthogonal iso-parametric structures while keeping the continuity conditions between patches. The efficiency and robustness of the proposed method are demonstrated by several examples which are compared to results obtained by the skeleton-based parameterization approach

A Mean Field Theory of the Chiral Phase Transition

The recent discussions by Koci\'c and Kogut on the nature of the chiral phase transition are reviewed. The mean-field nature of the transition suggested by these authors is supported in random matrix theory by Verbaarschot and Jackson which reproduces many aspects of QCD lattice simulations. In this paper, we point out physical arguments that favor a mean-field transition, not only for zero density and high temperature, but also for finite density. We show, using the Gross-Neveu model in 3 spatial dimensions in mean-field approximation, how the phase transition is constructed. In order to reproduce the lowering of the $\rho=0$, $T=0$ vacuum evaluated in lattice calculations, we introduce {nucleons} rather than constituent quarks in negative energy states, down to a momentum cut-off of $\Lambda$. We also discuss Brown-Rho scaling of the hadron masses in relation to the QCD phase transition, and how this scaling affects the CERES and HELIOS-3 dilepton experiments.Comment: 23 pages, Latex, no figure