The share of finance in U.S. GDP displays large historical variations. I argue, using evidence and theory, that corporate finance is a key factor behind these evolutions. Corporate demand for intermediation depends crucially on the relative investment opportunities of firms with low cash flows (young firms) and firms with high cash flows (incumbents). A simple general equilibrium model is devel...

D This paper investigates a special case of the event calculus, concerned with database updates. It discusses the way relational databases, historical databases, modal logic, the situation calculus, and case semantics deal with database updates and compares the event calculus with the situation calculus in detail. It argues that the event calculus can overcome the computational aspects of the f...

This paper examines whether the different types of block shareholdings will have a different impact on the extent of Web voluntary disclosure during the differential privatization stages. Prior literature suggests that block ownership may have a substitutive or complementary monitoring effect on corporate disclosure. However, for economies transferring from state endowment to being privately he...

Widely used information diffusion models such as Independent Cascade Model, Susceptible Infected Recovered (SIR) and others fail to acknowledge that information is constantly subject to modification. Some aspects of information diffusion are best explained by network structural characteristics while in some cases strong influence comes from individual decisions. We introduce reinvention, the ab...

This paper presents StreamXPlore, a system that enables users to explore historical stream data in order to determine what events to monitor in the future. At the heart of StreamXPlore is a new event modeling mechanism. StreamXPlore enables the specification, analysis, and mining of these new types of events. Event analysis enables event refinement using data-cube-style slice, dice, drilldown, ...

The article deals with the sacred groves of the Balts in Lithuania and presents the linguistic background, the historical documents from the 12th– 18th century, the key folklore motifs of the topic, as well as selected examples of groves. The article also discusses possible relationships between pre-Christian religious traditions connected with the sacred groves and the ones which have survived...

The Master of Liberal Arts provides the chance to practice the methods of interdisciplinary inquiry that are the hallmark of a rigorous liberal arts education. As a student in the program, one can explore questions of identity through art, literature, and religion; analyze the politics of race in fiction, historical documents, the visual arts, and music; debate ethical choices presented by fict...

Document binarization is an active research area for many years. The choice of the most appropriate binarization algorithm for each case proved to be a very difficult procedure itself. In this paper, we propose a new technique for the validation of document binarization algorithms. Our method is simple in its implementation and can be performed on any binarization algorithm since it doesn’t req...