Fernandez (2004b) argues that the present value effect of the tax saving on debt cannot be calculated as simply the present value of the tax shields associated with interest. This contradicts standard results in the literature. It implies that, even though the capital market is complete, value-additivity is violated. As a consequence, adjusted present value formulae of a standard sort cannot be...

In order to analyze the leakage magnetic field and stray loss in power transformer, leakage magnetic field and stray loss in structure parts of a power transformer are calculated by three-dimensional (3-D) non-linear time harmonic finite element method (FEM). The results show that stray loss and loss density in structure parts are large and which may lead to local overheating and affect perform...

A new relationship between the roughness height and the main hydrodynamic and sediment parameters for plane beds under oscillatory conditions is presented. In order to derive such a relationship, a large data base encompassing plane-bed experiments was compiled from previous investigations and analyzed. Different methods to estimate the roughness height were investigated. Comparisons between th...

The recent interest in the valuation of tax benefits from debt arises from the disagreement in the existing literature about the meaning of “value of tax shields.” Although it is accepted that the value of a firm increases as effect of the tax deductibility of interest, the correct valuation of this extra-value is controversial. In this paper we adopt a risk-neutral approach to derive a general...

The endosomal sorting complex required for transport (ESCRT) complexes sort ubiquitinated membrane proteins into multivesicular bodies, which is a key step in the lysosomal degradation pathway. Shields et al. (Shields, S.B., A.J. Oestreich, S. Winistorfer, D. Nguyen, J.A. Payne, D.J. Katzmann, and R. Piper. 2009. J. Cell Biol. 185:213-224) identify a new ubiquitin-binding site in ESCRT-I and pr...

A. Benali,1,2,* Z. J. Bai,3,† N. J. Curro,2,‡ and R. T. Scalettar2,§ 1Department of Physics, Faculty of Sciences of Tunis, University of Tunis El-Manar, Tunis 2092, Tunisia 2Department of Physics, One Shields Avenue, University of California, Davis, California 95616, USA 3Department of Computer Science, One Shields Avenue, University of California, Davis, California 95616, USA (Received 20 Apri...

Douglas C. Hofmann , Lee Hamill, Eric Christiansen, Steve Nutt 1. California Institute of Technology Keck Laboratory of Engineering Sciences Pasadena CA USA 2. University of Southern California Los Angeles CA USA 3. NASA Johnson Space Center Houston TX USA Abstract: In this work, hypervelocity impact tests up to 7 km s are used to compare the performance of Whipple shields integrated with layer...

High-permeability magnetic shields generate magnetic field noise that can limit the sensitivity of modern precision measurements. We show that calculations based on the fluctuation-dissipation theorem allow quantitative evaluation of magnetic field noise, either from current or magnetization fluctuations, inside enclosures made of high-permeability materials. Explicit analytical formulas for th...

This paper presents a computer simulation of reflected and scattered laser radiation for calculating the angle of laser shields performed with the Laser Shield Solver computer program. The authors describe a method of calculating the shield angle for laser shields which protect workers against reflected and scattered laser radiation and which are made from different materials. The main assumpti...