Financial regulation imposes equity buffers on banks by restricting dividends. This paper studies constrained-efficient dividend policy when fund loans with and debt. In the model, bank shareholders consider costly a bank’s access to debt depends its shareholder value. response loan losses cut dividends, but eventually defer dividends too much. They do not internalize that commitment higher (an...

Historically, forested riparian buffers have been created to provide protection for aquatic organisms and aquatic ecosystem functions. Increasingly, new and existing riparian buffers are being used also to meet terrestrial conservation requirements. To test the effectiveness of riparian buffers for conserving terrestrial fauna, we conducted a meta-analysis using published data from 397 comparis...

Buffers in emerging optical packet routers are expensive resources, and it is expected that they would be able to store at most a few tens of KiloBytes of data in the optical domain. When TCP and real-time (UDP) traffic multiplex at an optical router with such small buffers (less than 50 KiloBytes), we recently showed that UDP packet loss can increase with increasing buffer size. This anomalous...

The relationship between acidic pH, taste cell pH(i), and chorda tympani (CT) nerve responses was investigated before and after incorporating the K(+)-H(+) exchanger, nigericin, in the apical membrane of taste cells. CT responses were recorded in anesthetized rats in vivo, and changes in pH(i) were monitored in polarized fungiform taste cells in vitro. Under control conditions, stimulating the ...