In this paper we examine the premarket underpricing phenomenon within a group of venture-backed and a group of non venture-backed initial public offerings (IPOs) using a stochastic frontier approach. Consistent with previous research, we find that venture-backed IPOs are managed by more reputable underwriters and are generally associated with less underwriter compensation. However, unlike other...

This study evaluated the bond strength of root-end filling materials to root-end cavities using a new methodology. Twenty maxillary central incisors were subjected to biomechanical preparation (#80 hand file) and sectioned transversally 2 mm short of the apex and 4 mm coronally to this point. The root cylinders were embedded in acrylic resin and positioned at 45° to the horizontal plane for pre...

It is now one of the most important tasks in the area of monetary policy research to empirically evaluate the effectiveness of the monetary policy operations adopted by the central banks facing the zero lower bound. In this paper, Gagnon et al. (2011) empirically investigate the impacts of the Federal Reserve’s program called large-scale asset purchases (LSAPs). They conduct two types of empiri...

I compare the Bush-Paulson plan of intervention in secondary markets for mortgage-backed securities (MBS) with an alternative based on insuring mortgages directly. Fully insuring mortgages achieves the same bottom-line effect as buying all outstanding MBS but instantaneously with no upfront costs. A plan based on partial insurance can match most effects of a partial Paulson-style intervention. ...

A recent trend in the German Asset Backed Securities (ABS) market is the securitisation of subordinated loans and profit participation agreements (PPAs) granted to medium-sized enterprises (MEs). This paper provides an overview of this growing market and analyses the benefits of such transactions for the portfolio companies as well as originators and potential investors. Simulations of ten rece...

Mutual coupling in finite arrays of antennas with strongly overlapping minimum spheres is quickly calculated by computing the general translation matrix between spherical modes. This obtained using transformation properties and plane vector waves. Although this approach less efficient than classical one, which based on addition theorems, it allows to overcome well-known limitation theorems that...

This letter presents a high-gain 32 × 32-element full corporate-feed array antenna using simplified assembly of only two split blocks. is made possible by new feeding configuration which eliminates the cavity-backed layer used in conventional designs. E-plane T-junctions, as well single-ridge waveguide output structure, are network to reduce its size. helps realize one-to-one corresponding exci...

Defects and cracks in dried natural timber (relative permittivity 2–5) may cause structural weakness enhanced warping beams. For a pine wood beam (1200 mm × 70 mm), microwave reflection (S11) transmission (S21) measurements using cavity-backed slot antenna on the surface showed variations caused by imperfections defects wood. Reflection at 4.4 GHz increased (>5 dB) above major knot evident w...

In recent years, one area of growing concern in corporate governance is the accounting and transfer of risk using special purpose entities (or trusts). Such entities are used widely in issuing asset-backed securities. This paper provides an overview of the asset-backed securities market, and discusses the common structures used in this market to transform the risks associated with the underlyin...