Trying To understand all-equity firms

This paper studies all equity firms and shows which are in US firms, the main drivers of zero-debt policy. I analyze 6763 U.S. listed companies in years 1987-2009, a total of 77442 firms year. I find that financial constrained firms show a higher probability to become unlevered. In the opposite side, firms producing high cash flow are also likely to become unlevered, paying their debt. Some firms create economies of scale in the use of funds, increasing the probability of become unlevered. The industry characteristics are also important to explain the zero-debt policy. However is the high perception of risk, the most important factor influencing this extreme behavior, which is consistent with trade-off theory.

Nuevas formas de enseñanza en mimo corporal dramático: la técnica corporal y la experiencia somática más allá de la forma y la estética generadas

Planteamos el estudio y la sistematización del mimo corporal dramático, a partir de la experiencia en la práctica de dicha técnica y su enseñanza . Mas allá de inventar una nueva técnica o realizar un trabajo teórico sobre conceptos, intentaremos en base al trabajo práctico realizado en el ultimo año, a partir de las experiencias desarrolladas en las aulas de movimento del maestrado, referenciar sistematizar y poner por escrito los principios y bases del mimo corporal dramático, revisados desde nuevos planteamientos, mas allá de la estética que generó Decroux. Trabajamos en la recopilación y estudio de todos estos principios, desde la experiencia de los últimos cinco años dando clases de mimo corporal dramático en la Real Escuela Superior de Arte Dramático de Madrid y mas concretamente en el trabajo realizado en el ultimo año con un grupo de alumnos y ex-alumnos voluntarios con los que hemos estado investigando sobre la técnica del mimo corporal. No intentamos pues realizar un estudio teórico, basado en ideas, pensamientos, etc. sino exponer desde la experiencia real, desde ejercicios, improvisaciones, diálogos sobre la técnica en la práctica y desarrollo del movimiento. Recogemos aquí no los ejercicios trabajados o soluciones practicas, sino las conclusiones y las bases teóricas que las sustentan y sobre las que creemos que pueden arrojar luz sobre el conocimiento de esta técnica y facilitar tanto su comprensión como su practica, mas allá de la figura de Decroux o de un estilo concreto de movimiento.

All that fall /Todos os que caem

Este artigo resulta de uma comunicação realizada no âmbito de um Colóquio sobre Samuel Beckett, organizado por Armando Nascimento Rosa, aquando do espectáculo homónimo da Comuna Teatro de Pesquisa, 2006.

Analysis of sandwich beam structures using kriging based higher order models

Functionally graded composite materials can provide continuously varying properties, which distribution can vary according to a specific location within the composite. More frequently, functionally graded materials consider a through thickness variation law, which can be more or less smoother, possessing however an important characteristic which is the continuous properties variation profiles, which eliminate the abrupt stresses discontinuities found on laminated composites. This study aims to analyze the transient dynamic behavior of sandwich structures, having a metallic core and functionally graded outer layers. To this purpose, the properties of the particulate composite metal-ceramic outer layers, are estimated using Mod-Tanaka scheme and the dynamic analyses considers first order and higher order shear deformation theories implemented though kriging finite element method. The transient dynamic response of these structures is carried out through Bossak-Newmark method. The illustrative cases presented in this work, consider the influence of the shape functions interpolation domain, the properties through-thickness distribution, the influence of considering different materials, aspect ratios and boundary conditions. (C) 2014 Elsevier Ltd. All rights reserved.

Soft Janus, wrinkles and all

Right now you are probably sitting on a comfy cushion. This is most likely filled with polyurethane (PU) foam. PUs are very long molecules made up of many repeating units. If the repeating units are prepolymers – intermediate-mass building blocks – with more than two reactive end groups, a three-dimensional network will form – a rubber, or elastomer, which can behave elastically depending on the degree of network cross-linking.