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Ebook Bankruptcy, Creditor Protection and Debt Contracts

... self-dealing, reducing creditors’ ability to seize the project’s cash flows. In such cases, the only way for creditors to recoup ... from a financially distressed firm may be to oust its management and liquidate its physical assets. In addition to creditor ...

Story - puput - 11/04/2010 - 08:35 - 0 comments - 0 attachments

Ebook The use of derivatives in Slovenian non-financial firms: is financial risk already well managed?

... building blocks of modern finance theory enterprise risk management was not only considered a futile exercise but also as a means to ... see too-extensive hedging, cash flow hedging and/or pet project hedging as means of wealth transfer away from shareholders to ...

Story - puput - 01/26/2010 - 02:59 - 0 comments - 0 attachments


Ebook Fluid Biaxial Banana Phases: Symmetry at Work

Submitted by antoq on Sat, 12/27/2008 - 06:43

Thermotropic smectic phases are layered structures with layer spacing on the order of 30–100Å. When the in-plane fluidity is isotropic, we have the well-known smectic A phase. When the in-plane fluidity is anisotropic, we can have the equally well-known smectic C phase. Both smectics C and A are dielectrics. The consequence is that while their “turn-on” response in an electric field can be fast (because they are 2-D fluids), the absence of a spontaneous polarization, P, means that their “turn-off” response is relatively slow (elastic relaxation). As a result, fluid biaxial smectics exhibiting a spontaneous polarization have long been of interest.

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Ebook Aggregate Liquidity and Stock Returns

Submitted by wulan on Fri, 05/28/2010 - 05:49

In this paper, we investigate the relation between stock returns and aggregate liquidity. The market microstructure literature establishes that liquidity, reflecting asymmetric information and trading cost, is an important factor in price discovery. Recent empirical studies suggest that aggregate liquidity may be a systematic factor that impacts asset pricing. According to financial theory, investors require a higher expected return if systematic and non-diversifiable risks affect financial assets.

Hence, a market-wide liquidity shock should affect returns of all assets and the average returns of the aggregate market. If individual assets exhibit different sensitivities to liquidity, a market wide liquidity shock should be reflected in the cross-sectional variation of asset returns. Moreover, given risk-averse traders, asset returns should be positively related to the second moment of liquidity.

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Ebook Health State Descriptions for Canadians: Diabetes

Submitted by antoq on Tue, 07/14/2009 - 04:43

Diabetes is a disease in which the body does notproduce enough insulin or does not use insulin properly. Insulin is a hormone that allows glucose (sugar) to enter body cells where it is used as energy. With little or no insulin, glucose remains in the bloodstream instead of being used as fuel. High blood sugar levels are associated with diabetes. Treatment is aimed at keeping blood glucose near normal levels at all times,often by means of multiple insulin injections daily. Normal blood glucose levels are between 4.0 and 7.0 mmol/L when fasting, and between 5.0 and 10.0 mmol/L two hours after eating. Fasting levels between 6.1 and 6.9, however, may be evidence of pre-diabetes. If diabetes is improperly managed or left untreated, the high levels of blood sugar can increase the risk for serious complications.

Diabetes is the 6th leading cause of mortality in the world among adults aged 60 years and over. In 1999-2000, about 5.1% of the Canadian population aged 20 and over, or 1.2 million Canadians, were living with diabetes diagnosed by a health professional.Prevalence increases with age, peaking at 15.5% in the 75-79 year age group, and is generally higher among men than women. Age-standardized rates among Aboriginal peoples are triple the rates in the general population.

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