Investment efficiency among a cross-section of UK firms:implications for the debate on financing constraints

In this paper, we address this policy issue using a stylised methodology that relies on estimates of the cash flow sensitivity of firms’ investment, as well as a relatively new methodology that enables us to generate a (0, 1) bounded measure of investment efficiency of firms, i.e., the efficiency with which firms can convert their sales into investment, after controlling for unobserved year- and industry-specific effects. Higher investment efficiency is associated with lower financing constraint. Our results indicate that there is considerable heterogeneity in investment efficiency across firms, during a given year; the range being 0.57-0.82. However, the average investment efficiency measure is similar across years, regions and NACE 2-digit industries. We also do not find discernible patterns in the relationship between investment efficiency and firm size, both before and during the financial crisis. The results suggest that while some firms are clearly less efficient at translating their performance into investment, broad policies targeting firms of a certain size, or those within a particular industry or region, may not successfully address the problem of financing constraint in the United Kingdom. The targeting of firms with financing constraints may have to be considerably more refined, and look at not easily observable factors such as credit history/events and organisational capacity of the firms.

The measurement of isomeric cross-section ratios in neutron induced reactions.

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The impact of cross -training on team processes and performance

Recently, researchers have begun to investigate the benefits of cross-training teams. It has been hypothesized that cross-training should help improve team processes and team performance (Cannon-Bowers, Salas, Blickensderfer, & Bowers, 1998; Travillian, Volpe, Cannon-Bowers, & Salas, 1993). The current study extends previous research by examining different methods of cross-training (positional clarification and positional modeling) and the impact they have on team process and performance in both more complex and less complex environments. One hundred and thirty-five psychology undergraduates were placed in 45 three-person teams. Participants were randomly assigned to roles within teams. Teams were asked to “fly” a series of missions on a PC-based helicopter flight simulation. ^ Results suggest that cross-training improves team mental model accuracy and similarity. Accuracy of team mental models was found to be a predictor of coordination quality, but similarity of team mental models was not. Neither similarity nor accuracy of team mental models was found to be a predictor of backup behavior (quality and quantity). As expected, both team coordination (quality) and backup behaviors (quantity and quality) were significant predictors of overall team performance. Contrary to expectations, there was no interaction between cross-training and environmental complexity. Results from this study further cross-training research by establishing positional clarification and positional modeling as training strategies for improving team performance. ^

Development of a high-frequency surface-wave radar cross section model for icebergs

In this thesis, the first-order radar cross section (RCS) of an iceberg is derived and simulated. This analysis takes place in the context of a monostatic high frequency surface wave radar with a vertical dipole source that is driven by a pulsed waveform. The starting point of this work is a general electric field equation derived previ- ously for an arbitrarily shaped iceberg region surrounded by an ocean surface. The condition of monostatic backscatter is applied to this general field equation and the resulting expression is inverse Fourier transformed. In the time domain the excitation current of the transmit antenna is specified to be a pulsed sinusoid signal. The result- ing electric field equation is simplified and its physical significance is assessed. The field equation is then further simplified by restricting the iceberg's size to fit within a single radar patch width. The power received by the radar is calculated using this electric field equation. Comparing the received power with the radar range equation gives a general expression for the iceberg RCS. The iceberg RCS equation is found to depend on several parameters including the geometry of the iceberg, the radar frequency, and the electrical parameters of both the iceberg and the ocean surface. The RCS is rewritten in a form suitable for simulations and simulations are carried out for rectangularly shaped icebergs. Simulation results are discussed and are found to be consistent with existing research.

Consumption Risk and the Cross-Section of Government Bond Returns

Peer reviewed

Consumption Risk and the Cross-Section of Government Bond Returns

Peer reviewed

Measuring the $^{127}$I, $\nu_{e}$ Charged-Current Cross-Section of NaI[Tl]

The primary objective of this experiment is to measure the cross-section of $\nu_{e}$ charged-current neutrino interactions on $^{127}$I. To measure this interaction, an array of twenty-four, 7.7 kg sodium iodide (NaI[Tl]) scintillating detectors will be deployed to the Spallation Neutron Source at Oak Ridge National Laboratory. The design of the detector array is presented here along with preliminary characterization and background measurements conducted at Duke University.

Cross-section and panel estimates of peer effects in early adolescent cannabis use: With a little help from my ‘friends once removed’

Peer effects in adolescent cannabis are difficult to estimate, due in part to the lack of appropriate data on behaviour and social ties. This paper exploits survey data that have many desirable properties and have not previously been used for this purpose. The data set, collected from teenagers in three annual waves from 2002-2004 contains longitudinal information about friendship networks within schools (N = 5,020). We exploit these data on network structure to estimate peer effects on adolescents from their nominated friends within school using two alternative approaches to identification. First, we present a cross-sectional instrumental variable (IV) estimate of peer effects that exploits network structure at the second degree, i.e. using information on friends of friends who are not themselves ego’s friends to instrument for the cannabis use of friends. Second, we present an individual fixed effects estimate of peer effects using the full longitudinal structure of the data. Both innovations allow a greater degree of control for correlated effects than is commonly the case in the substance-use peer effects literature, improving our chances of obtaining estimates of peer effects than can be plausibly interpreted as causal. Both estimates suggest positive peer effects of non-trivial magnitude, although the IV estimate is imprecise. Furthermore, when we specify identical models with behaviour and characteristics of randomly selected school peers in place of friends’, we find effectively zero effect from these ‘placebo’ peers, lending credence to our main estimates. We conclude that cross-sectional data can be used to estimate plausible positive peer effects on cannabis use where network structure information is available and appropriately exploited.

Positronium collisions with rare-gas atoms

We calculate elastic scattering of positronium (Ps) by the Xe atom using the recently developed pseudopotential method (Fabrikant and Gribakin 2014 Phys. Rev. A 90 052717) and review general features of Ps scattering from heavier rare-gas atoms: Ar, Kr and Xe. The total scattering cross section is dominated by two contributions: elastic scattering and Ps ionization (break-up). To calculate the Ps ionization cross sections we use the binary-encounter method for Ps collisions with an atomic target. Our results for the ionization cross section agree well with previous calculations carried out in the impulse approximation. Our total Ps–Xe cross section, when plotted as a function of the projectile velocity, exhibits similarity with the electron-Xe cross section for the collision velocities higher than 0.8 a.u., and agrees very well with the measurements at Ps velocities above 0.5 a.u.

Measurement of the Z and W production cross section in pp collisions at LHC using a bayesian approach

L’obiettivo di tutto il mio lavoro è stato quello di misurare le sezioni d’urto di produzione dei bosoni deboli W ± e Z nei loro decadimenti leptonici (e, μ) coi dati raccolti dal rivelatore ATLAS a LHC con un’energia del centro di massa di √s = 13 TeV relativi all’estate 2015. Gli eventi selezionati sono gli stessi di quelli del recente articolo della Collaborazione ATLAS sullo stesso argomento, in modo anche da poter operare un confronto tra i risultati ottenuti. Confronto peraltro necessario, poichè i risultati sono stati ottenuti con due metodologie differenti: tradizionale (classica) per l’articolo, bayesiana in questa tesi. L’approccio bayesiano permette di combinare i vari canali e di trattare gli effetti sistematici in modo del tutto naturale. I risultati ottenuti sono in ottimo accordo con le predizioni dello Standard Model e con quelli pubblicati da ATLAS.

The experimental determination of impact ionization coefficients in gallium arsenide and indium phosphide

U of I Only

Measurement of Wγγ Cross Section and Limits on Anomalous Quartic Gauge Couplings in Proton-Proton Collisions at 8 TeV with the CMS detector

Present the measurement of a rare Standard Model processes, pp →W±γγ for the leptonic decays of the W±. The measurement is made with 19.4 fb−1 of 8 TeV data collected in 2012 by the CMS experiment. The measured cross section is consistent with the Standard Model prediction and has a significance of 2.9σ. Limits are placed on dimension-8 Effective Field Theories of anomalous Quartic Gauge Couplings. The analysis has particularly sensitivity to the fT,0 coupling and a 95% confidence limit is placed at −35.9 < fT,0/Λ4< 36.7 TeV−4. Studies of the pp →Zγγ process are also presented. The Zγγ signal is in strict agreement with the Standard Model and has a significance of 5.9σ.

Computational design of a new type of sandwich cross-section for a defined solution of a tree-like column produced by wire-and-arc additive manufacturing

When it comes to designing a structure, architects and engineers want to join forces in order to create and build the most beautiful and efficient building. From finding new shapes and forms to optimizing the stability and the resistance, there is a constant link to be made between both professions. In architecture, there has always been a particular interest in creating new shapes and types of a structure inspired by many different fields, one of them being nature itself. In engineering, the selection of optimum has always dictated the way of thinking and designing structures. This mindset led through studies to the current best practices in construction. However, both disciplines were limited by the traditional manufacturing constraints at a certain point. Over the last decades, much progress was made from a technological point of view, allowing to go beyond today's manufacturing constraints. With the emergence of Wire-and-Arc Additive Manufacturing (WAAM) combined with Algorithmic-Aided Design (AAD), architects and engineers are offered new opportunities to merge architectural beauty and structural efficiency. Both technologies allow for exploring and building unusual and complex structural shapes in addition to a reduction of costs and environmental impacts. Through this study, the author wants to make use of previously mentioned technologies and assess their potential, first to design an aesthetically appreciated tree-like column with the idea of secondly proposing a new type of standardized and optimized sandwich cross-section to the construction industry. Parametric algorithms to model the dendriform column and the new sandwich cross-section are developed and presented in detail. A catalog draft of the latter and methods to establish it are then proposed and discussed. Finally, the buckling behavior of this latter is assessed considering standard steel and WAAM material properties.