In this paper we test the pecking order and trade-off hypotheses of corporate financing decisions using a cross-section of the largest Chinese listed companies. We build on Allen (1993) and Baskin (1989) to set up three models in which trade-off and pecking order theories give distinctively different predictions: (1) the determinants of leverage, (2) the relationship between leverage and divide...

This paper investigates how the latency in a mobile network affect the quality of a highly demanding and sensitive application running on it. The application chosen is a bilateral teleoperation with a haptic input device, meaning a remotely controlled robot with force feedback. The latency of the two a 3Gand 4G Network were measured and simulated in application. To examine how the latency affec...

Inductive learning aims at finding general rules that hold true in a database. Targeted learning seeks rules for the prediction of the value of a variable based on the values of others, as in the case of linear or non-parametric regression analysis. Non-targeted learning finds regularities without a specific prediction goal. We model the product of non-targeted learning as rules that state that...

Cryptanalytic time memory trade-off is a probabilistic algorithm for inverting a generic one-way function. Since its first introduction by Hellman, many variants and their analysis results have appeared. We present a new estimate for the success probability of the original Hellman trade-off, that is more accurate than the lower bound that is widely being used today.

The hypothesis that there has been selection pressure for mechanisms which enable us to perceive the present tends to be conflated with the hypothesis that there has been selection pressure for mechanisms that compensate for inevitable neural delay. The relationship between the two is more subtle, because increases in neural delay can be advantageous for building more useful perceptions. Propon...

Passing parameter objects by value can reduce the number of remote method invocations in a distributed system. It is a simple alternative to full-fledged object migration, implemented for example in Java/RMI and currently being added to CORBA as well. In this paper, we answer the question: When exactly does it pay off to pass an object by value, instead of by reference? To this end, both empiri...

Perceptual decision making has been successfully modeled as a process of evidence accumulation up to a threshold. In order to maximize the rewards earned for correct responses in tasks with response deadlines, participants should collapse decision thresholds dynamically during each trial so that a decision is reached before the deadline. This strategy ensures on-time responding, though at the c...

T paper deals with a basic issue: How does one approach the problem of designing the “right” objective for a given resource allocation problem? The notion of what is right can be fairly nebulous; we consider two issues that we see as key: efficiency and fairness. We approach the problem of designing objectives that account for the natural tension between efficiency and fairness in the context o...

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