4,232 research outputs found

    Planckian Scattering Beyond the Eikonal Approximation in the Functional Approach

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    In the framework of functional integration the non-leading terms to leading eikonal behavior of the Planckian-energy scattering amplitude are calculated by the straight-line path approximation. We show that the allowance for the first-order correction terms leads to the appearance of retardation effect. The singular character of the correction terms at short distances is also noted, and they may be lead ultimately to the appearance of non-eikonal contributions to the scattering amplitudes.Comment: 15 pages, no figure

    Location, Proximity, and M&A Transactions

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    In this paper, we examine how the geographic location of firms affects acquisition decisions and value creation for acquirers in takeover transactions. We find that firms located in an urban area are more likely to receive a takeover bid and complete a takeover transaction as a target than firms located in rural areas, and takeover deals involving an urban target are associated with higher acquirer announcement returns, after controlling for the proximity between the target and the acquirer. In addition, a target\u27s urban location significantly attenuates the negative effect of a long distance between the target and the acquirer on acquirer returns, a fact that is documented in the existing literature. Our findings reveal a previously underexplored force—firm location—that can affect takeover transactions, in addition to proximity. Our paper suggests that a firm\u27s location plays an important role in facilitating the dissemination of soft information and enhancing information-based synergies

    A Flood Risk Framework Capturing the Seasonality of and Dependence Between Rainfall and Sea Levels—An Application to Ho Chi Minh City, Vietnam

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    State-of-the-art flood hazard maps in coastal cities are often obtained from simulating coastal or pluvial events separately. This method does not account for the seasonality of flood drivers and their mutual dependence. In this article, we include the impact of these two factors in a computationally efficient probabilistic framework for flood risk calculation, using Ho Chi Minh City (HCMC) as a case study. HCMC can be flooded sub-annually by high tide, rainfall and storm surge events or a combination thereof during the monsoon or tropical cyclones. Using long gauge observations, we stochastically model 10,000 years of rainfall and sea level events based on their monthly distributions, dependence structure and co-occurrence rate. The impact from each stochastic event is then obtained from a damage function built from selected rainfall and sea level combinations, leading to an expected annual damage (EAD) of 1.02B(95thannualdamagepercentileof1.02B (95th annual damage percentile of 2.15B). We find no dependence for most months and large differences in expected damage across months ($36M-166M) driven by the seasonality of rainfall and sea levels. Excluding monthly variability leads to a serious underestimation of the EAD by 72% to 83%. This is because high-probability flood events, which can happen multiple times during the year and are properly captured by our framework, contribute the most to the EAD. This application illustrates the potential of our framework and advocates for the inclusion of flood drivers’ dynamics in coastal risk assessments

    Spectrum-Efficient Triple-Layer Hybrid Optical OFDM for IM/DD-Based Optical Wireless Communications

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    In this paper, a triple-layer hybrid optical orthogonal frequency division multiplexing (THO-OFDM) for intensity modulation with direct detection (IM/DD) systems with a high spectral efficiency is proposed. We combine N-point asymmetrically clipped optical orthogonal frequency division multiplexing (ACO-OFDM), N/2-point ACO-OFDM, and N/2-point pulse amplitude modulated discrete multitoned (PAM-DMT) in a single frame for simultaneous transmission. The time- and frequency-domain demodulation methods are introduced by fully exploiting the special structure of the proposed THO-OFDM. Theoretical analysis show that, the proposed THO-OFDM can reach the spectral efficiency limit of the conventional layered ACO-OFDM (LACO-OFDM). Simulation results demonstrate that, the time-domain receiver offers improved bit error rate (BER) performance compared with the frequency-domain with ∼40% reduced computation complexity when using 512 subcarriers. Furthermore, we show a 3 dB improvement in the peak-to-average power ratio (PAPR) compared with LACO-OFDM for the same three layers