We examine shareholder wealth implications of supplying financing to customers. Robust results suggest that excess returns and changes in trade receivables are directly and significantly related. Further evidence indicates the value of receivables is higher for suppliers with stronger motives relating to operating and contracting costs. The results also suggest a discounted value of receivables...

Auditory saltation is a misperception of the spatial location of repetitive, transient stimuli. It arises when clicks at one location are followed in perfect temporal cadence by identical clicks at a second location. This report describes two psychophysical experiments designed to examine the sensitivity of auditory saltation to different stimulus cues for auditory spatial perception. Experimen...

the growing interest in using natural fibers as reinforcing agents of polymer-based composites is mainly due to their advantages such as lower cost, lower density, ease of preparation, lower energy requirements for processing, biodegradability, wide availability and relative non-abrasiveness over traditional reinforcing fibers such as glass and carbon. in this study, wood-plastic composite (wpc...

Wood contains the majority of the nutrients in tropical trees, yet controls over wood nutrient concentrations and their function are poorly understood. We measured wood nutrient concentrations in 106 tree species in 10 forest plots spanning a regional fertility gradient in Panama. For a subset of species, we quantified foliar nutrients and wood density to test whether wood nutrients scale with ...

This paper presents a new methodology based on AHP and ANP (Saaty, 1980, 1996) to estimate the value and transfer fees of professional football players. The paper extends the AHP multicriteria methodology proposed by Moreno-Jiménez et al. (2010) for estimating the value of these sportsmen. The new approach multiplicatively combines the (intrinsic) value of the player (estimated by means of AHP ...

Electoral systems are complex entities composed of a set of phases that form a process to which performance parameters can be associated. One of the key points of every electoral system is represented by the electoral formula that can be characterized by a wide spectrum of properties that, according to Arrow’s Impossibility Theorem and other theoretical results, cannot be all satisfied at the s...

The lattice Boltzmann (LB) method is used to study the kinetics of domain growth of a binary fluid in a number of geometries modeling porous media. Unlike the traditional methods which solve the Cahn-Hilliard equation, the LB method correctly simulates fluid properties, phase segregation, interface dynamics and wetting. Our results, based on lattice sizes of up to 4096× 4096, do not show eviden...

We derive an exact nonlinear nonlocal macroscopic equation for the time evolution of the conserved order parameter rsr, td of a microscopic model binary alloy undergoing phase segregation: a d-dimensional lattice gas evolving via Kawasaki exchange dynamics, satisfying detailed balance for a Hamiltonian with a long range pair potential gdJsgjxjd. The macroscopic evolution is on the spatial scale...

The possibility of using water insoluble fraction from biomass pyrolysis oil as additive in synthesis of Wood-Plastic novolac has been proved by using Differential Scanning Calorimetry (DSC) and Fourier Transformed Infra Red (FT-IR) spectroscopy. Synthesis of novolac with different concentrations (10, 20 and 30 wt %) of water insoluble fraction were performed. It was found that mechanical p...