With Good Reputation Size Does not Matter: Issue Frequency and the Determinants of Debt Maturity

This paper examines empirically the effect firm reputation has on the determinants of debt maturity. Utilising data from European primary bond market between 1999 and 2005, I find that the maturity choice of issuers with a higher reputation is less sensitive to macroeconomic conditions, market credit risk-premiums, prevailing firm credit quality and size of the debt issue. The annualised coupon payments are shown to be a significant factor in determining the debt maturity and reveal a monotonously increasing relationship between credit quality and debt maturity once controlled for. Finally, I show that issuers lacking a credit rating have an implied credit quality positioned between investment-grade and speculative-grade debt.

An investigation into the feasibility of fetal lung maturity prediction using statistical textural features

Fetal lung and liver tissues were examined by ultrasound in 240 subjects during 24 to 38 weeks of gestational age in order to investigate the feasibility of predicting the maturity of the lung from the textural features of sonograms. A region of interest of 64 X 64 pixels is used for extracting textural features. Since the histological properties of the liver are claimed to remain constant with respect to gestational age, features obtained from the lung region are compared with those from liver. Though the mean values of some of the features show a specific trend with respect to gestation age, the variance is too high to guarantee definite prediction of the gestational age. Thus, we restricted our purview to an investigation into the feasibility of fetal lung maturity prediction using statistical textural features. Out of 64 features extracted, those features that are correlated with gestation age and less computationally intensive are selected. The results of our study show that the sonographic features hold some promise in determining whether the fetal lung is mature or immature.

Records management maturity model

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Size composition, growth and sexual maturity of bigeye tuna, Thunnus obesus (Lowe), from the Japanese long-line fishery in the Eastern Pacific Ocean

Size composition data of bigeye tuna taken from the eastern tropical Pacific Ocean by Japanese Prefectural experimental training vessels from 1958 to 1964 are examined. A gradient of increasing fish size from east to west is noted. Males increase in ratio over females for the entire range of lengths examined, and beyond 170 cm comprise more than 75 per cent of the total. The first semester of the year is important as a bigeye spawning season. A general relationship between sexual maturity and thermal structure of the water is discussed. At the end of their 12th quarter of life bigeye are about 114 cm long, by the 16th quarter, 137 cm and at the end of 20 quarters, about 153 cm. The long-line fishery in the eastern Pacific has had a marked effect on the size composition of the stocks of bigeye, but whether the fishing has driven the stocks below a point which could afford a maximum sustainable yield could not be determined. (PDF contains 55 pages.)

A study of the age, growth, sexual maturity, and spawning of the anchoveta, Cetengraulis mysticetus, in the Gulf of Panama

ENGLISH: Crew members of tuna clippers and Commission personnel are collecting specimens of anchovetas (Cetengraulis mysticetus) for studies of the biology of this important tuna-bait species. More than 27,000 fish from 231 collections captured in the Gulf of Panama between June 1951 and January 1956 are the basis of this study of the age, growth, sexual maturity, and spawning season of this species in that area. Estimates of age and rate of growth were made by studying the temporal progression of modal size groups from monthly length frequency distributions. Sexual development and time of spawning were determined from gross examination of ovaries and measurements of ovarian eggs. SPANISH: Con el fin de estudiar la biología de la anchoveta (Cetengraulis mysticetus) los tripulantes de los barcos atuneros y el personal de la Comisión están recolectando especimenes de esta importante especie de carnada para capturar el atún. Mas de 27,000 ejemplares de las 231 colecciones hechas en el Golfo de Panamá entre junio de 1951 y enero de 1956, sirven de material al presente estudio sobre la edad, el crecimiento, la madurez sexual y las épocas de desove de esta especie en el área indicada. Las estimaciones de la edad y de la proporción del crecimiento fueron hechas a base del estudio de la progresión temporal de los grupos modales de tamaño en las distribuciones mensuales de frecuencias de longitud. El desarrollo sexual y el periodo de desove fueron determinados mediante el examen microscópico de los ovarios y las mediciones de los huevos ováricos. (PDF contains 79 pages.)