Applicability of financial theories of capital structure to the Chinese cultural context: a study of privately owned SMEs

Using a new dataset of 1539 Chinese small and medium-sized enterprises this article investigates the firm-level determinants of capital structure and tests them against the predictions of financial theory. Firm size and profitability are both found to be related to leverage as posited by pecking-order theory. In contrast little support is found for the predicted relationship between asset structure and leverage. These findings are discussed in relationship to their Chinese cultural context. The managerial and policy implications of the research are then explored.

A study of behavioral finance: background, theories and application

Behavioral finance, or behavioral economics, consists of a theoretical field of research stating that consequent psychological and behavioral variables are involved in financial activities such as corporate finance and investment decisions (i.e. asset allocation, portfolio management and so on). This field has known an increasing interest from scholar and financial professionals since episodes of multiple speculative bubbles and financial crises. Indeed, practical incoherencies between economic events and traditional neoclassical financial theories had pushed more and more researchers to look for new and broader models and theories. The purpose of this work is to present the field of research, still ill-known by a vast majority. This work is thus a survey that introduces its origins and its main theories, while contrasting them with traditional finance theories still predominant nowadays. The main question guiding this work would be to see if this area of inquiry is able to provide better explanations for real life market phenomenon. For that purpose, the study will present some market anomalies unsolved by traditional theories, which have been recently addressed by behavioral finance researchers. In addition, it presents a practical application of portfolio management, comparing asset allocation under the traditional Markowitz’s approach to the Black-Litterman model, which incorporates some features of behavioral finance.

Meta-theories in research: positivism, postmodernism, and critical realism

No scholar or researcher is able to provide robust evidence that counters the scant reflection on metatheory – mostly ontology and epistemology – underlying management studies in general, and industrial marketing and purchasing research in particular. This paper is a contribution to the indispensable discussion of metatheoretical alternatives in research, and most importantly, the strengths and shortcomings thereof, and respective implications on research questions, objectives, and findings.

Paradigms in health care and its relationship to the nursing theories: an analytical test

DANTAS, Rodrigo Assis Neves; NÓBREGA, Walkíria Gomes da; MORAIS FILHO, Luiz Alves; MACÊDO, Eurides Araújo Bezerra de ; FONSECA , Patrícia de Cássia Bezerra; ENDERS, Bertha Cruz; MENEZES, Rejane Maria Paiva de; TORRES , Gilson de Vasconcelos. Paradigms in health care and its relationship to the nursing theories: an analytical test . Revista de Enfermagem UFPE on line. v.4,n.2, p.16-24.abr/jun. 2010. Disponível em < http://www.ufpe.br/revistaenfermagem/index.php/revista>.

Structural aspects of the fermion-boson mapping in two-dimensional gauge and anomalous gauge theories with massive fermions

Using a synthesis of the functional integral and operator approaches we discuss the fermion-buson mapping and the role played by the Bose field algebra in the Hilbert space of two-dimensional gauge and anomalous gauge field theories with massive fermions. In QED, with quartic self-interaction among massive fermions, the use of an auxiliary vector field introduces a redundant Bose field algebra that should not be considered as an element of the intrinsic algebraic structure defining the model. In anomalous chiral QED, with massive fermions the effect of the chiral anomaly leads to the appearance in the mass operator of a spurious Bose field combination. This phase factor carries no fermion selection rule and the expected absence of Theta-vacuum in the anomalous model is displayed from the operator solution. Even in the anomalous model with massive Fermi fields, the introduction of the Wess-Zumino field replicates the theory, changing neither its algebraic content nor its physical content. (C) 2002 Elsevier B.V. (USA).

Unitarity of spin-2 theories with linearized Weyl symmetry in D=2+1 dimensions

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

SU(2,R)(q) symmetries of Non-Abelian Toda theories

The classical and quantum algebras of a class of conformal NA-Toda models are studied. It is shown that the SL(2,R)(q) Poisson brackets algebra generated by certain chiral and antichiral charges of the nonlocal currents and the global U(1) charge appears as an algebra of the symmetries of these models. (C) 1998 Elsevier B.V. B.V. All rights reserved.

Equivalence of many-photon Green's functions in the Duffin-Kemmer-Petiau and Klein-Gordon-Fock statistical quantum field theories

Using the functional integral formalism for the statistical generating functional in the statistical (finite temperature) quantum field theory, we prove the equivalence of many-photon Greens functions in the Duffin-Kennner-Petiau and Klein-Gordon-Fock statistical quantum field theories. As an illustration, we calculate the one-loop polarization operators in both theories and demonstrate their coincidence.

Duality between non-commutative Yang-Mills-Chem-Simons and non-Abelian self-dual models

By introducing an appropriate parent action and considering a perturbative approach, we establish, up to fourth order terms in the field and for the full range of the coupling constant, the equivalence between the non-commutative Yang-Mills-ChernSimons theory and the non-commutative, non-Abelian self-dual model. In doing this, we consider two different approaches by using both the Moyal star-product and the Seiberg-Witten map. (C) 2003 Elsevier B.V. B.V. All rights reserved.

Integrable field theories with defects

The structure of integrable field theories in the presence of defects is discussed in terms of boundary functions under the Lagrangian formalism. Explicit examples of bosonic and fermionic theories are considered. In particular, the boundary functions for the super sinh-Gordon model is constructed and shown to generate the Backlund transformations for its soliton solutions.

Nonabelian Toda theories from parafermionic reductions of the WZW model

We investigate a class of conformal nonabelian-Toda models representing noncompact SL(2, R)/U(1) parafermions (PF) interacting with specific abelian Toda theories and having a global U(1) symmetry. A systematic derivation of the conserved currents, their algebras, and the exact solution of these models are presented. An important property of this class of models is the affine SL(2, R)(q) algebra spanned by charges of the chiral and antichiral nonlocal currents and the U(1) charge. The classical (Poisson brackets) algebras of symmetries VG(n), of these models appear to be of mixed PF-WG(n) type. They contain together with the local quadratic terms specific for the W-n-algebras the nonlocal terms similar to the ones of the classical PF-algebra. The renormalization of the spins of the nonlocal currents is the main new feature of the quantum VA(n)-algebras. The quantum VA(2)-algebra and its degenerate representations are studied in detail. (C) 1999 Academic Press.

Noncommutative integrable field theories in 2d

We study the noncommutative generalization of (Euclidean) integrable models in two dimensions, specifically the sine- and sinh-Gordon and the U(N) principal chiral models. By looking at tree-level amplitudes for the sinh-Gordon model we show that its naive noncommutative generalization is not integrable. on the other hand, the addition of extra constraints, obtained through the generalization of the zero-curvature method, renders the model integrable. We construct explicit nonlocal nontrivial conserved charges for the U(N) principal chiral model using the Brezin-Itzykson-Zinn-Justin-Zuber method. (C) 2003 Elsevier B.V. All rights reserved.

Vacuum energy as a c-function for theories with dynamically generated masses

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

Chiral symmetry breaking in QCD-like gauge theories with a confining propagator and dynamical gauge boson mass generation

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)