Information Disclosure, Market Discipline and the Management of Bank Capital: Evidence from the Chinese Financial Sector

Is there evidence that market forces effectively discipline risk management behaviour within Chinese financial institutions? This study analyses information from a comprehensive sample of Chinese banks over the 1998-2008 period. Market discipline is captured through the impact of four sets of factors namely, market concentration, interbank deposits, information disclosure, and ownership structure. We find some evidence of a market disciplining effect in that: (i) higher (lower) levels of market concentration lead banks to operate with a lower (higher) capital buffer; (ii) joint-equity banks that disclose more information to the public maintain larger capital ratios; (iii) full state ownership reduces the sensitivity of changes in a bank's capital buffer to its level of risk;(iv) banks that release more transparent financial information hold more capital against their non-performing loans. © 2010 Springer Science+Business Media, LLC.

'Law of their own': notes on legal alterity in early nineteenth-century Ireland

This article investigates intersections between legal and literary discourse in Ireland in the early 19th century, and explores how judicial tropes, in particular that of an “alternative judiciary”, shape perceptions of Irish identity as well as cultural expression. Whilst Ireland and the Irish were typically characterized as lawless, this article examines the ubiquitous presence of alternative legal systems, focusing on the writings of Thomas Moore (1779–1852) and William Carleton (1794–1869). These representations, and the questions of authority and legitimacy that they provoke, are considered within critical debates about the development of literary forms in Ireland, and the inherent relationship that legal alterity evokes between textual and judicial authority.

Palmprint Recognition Based on Subspace Analysis of Gabor Filter Bank

This paper introduces a new technique for palmprint recognition based on Fisher Linear Discriminant Analysis (FLDA) and Gabor filter bank. This method involves convolving a palmprint image with a bank of Gabor filters at different scales and rotations for robust palmprint features extraction. Once these features are extracted, FLDA is applied for dimensionality reduction and class separability. Since the palmprint features are derived from the principal lines, wrinkles and texture along the palm area. One should carefully consider this fact when selecting the appropriate palm region for the feature extraction process in order to enhance recognition accuracy. To address this problem, an improved region of interest (ROI) extraction algorithm is introduced. This algorithm allows for an efficient extraction of the whole palm area by ignoring all the undesirable parts, such as the fingers and background. Experiments have shown that the proposed method yields attractive performances as evidenced by an Equal Error Rate (EER) of 0.03%.

Notes on the Asymmetric Hydrogenation of Methyl Acetoacetate in Neoteric Solvents

Asymmetric hydrogenation of methyl acetoacetate to methyl (R)-3-hydroxybutyrate by [(R)-RuCl(binap)( p-cymen)] Cl has been studied in methanol-ionic liquid and methanol-dense CO(2) solvent systems. The ionic pairs triethylhexylammonium and 1-methylimidazolium with bis(trifluoromethane sulfonyl) imide and hexafluorophosphates were used. The role of ionic pairs on the kinetic parameters and (enantio) selectivity has been demonstrated. Although the CO(2) expanded methanol system suffered from a reduction in both reaction rate and product selectivity, this changed in the presence of water. The high selectivity of the optimized methanol-CO(2)-water-halide system was designed as a consequence of observed additive effects.

Rare occurrence of a bigeye tuna Thunnus obesus in British waters, with notes on other occurrences of sub-tropical tunas

A freshly dead bigeye tuna Thunnus obesus was washed ashore near Burry Port, Wales (51 degrees 40' N; 4 degrees 15' W) in August, 2006. This is only the third occasion that the species has been observed in British waters, and is the largest and most northerly recorded specimen.