Small non-centrosymmetric domains are observed in the racemic crystal, due to low nucleation activation energy of conglomerate.

Through recent amendments of its Commercial Bank Law and Securities Law, China has gradually softened its previous position mandating the segregation of financial business and supervision, as well as explored the financial conglomerate operation. Two models are considered in particular, namely the “universal bank” model, prevailing in Europe, and the “financial holding company” (FHC) model in t...

In general, conglomeration leads to a diversification of risks (the diversification benefit) and to a decrease in shareholder value (the conglomerate discount). Diversification benefits in financial conglomerates are typically derived without accounting for reduced shareholder value, even though a comprehensive analysis requires competitive conditions within the conglomerate, i.e., shareholders...

This paper investigates whether the Chilean financial reforms of the 1980s have contributed to reducing market imperfections in Chilean capital markets in the late 1980 and early 1990s. To analyse this issue, patterns of investment and its finance for different types of firms is studied, based on balance sheet information of a panel of 70 firms. The general conclusion is that it remains difficu...

Neural networks provide a basis for studying child language development in that such networks emphasise learning. We report a simulation of some key aspects of child language development during infancy. We argue that in order to simulate the uniquely human language learning, it is important to use a ‘conglomerate’ neural network architecture that integrates the collective strengths of a variety...

This paper investigates the effects of focus versus diversification on bank performance using data on Chinese banks during the 1996-2006 period. We construct a new measure, economies of diversification, and compare the results to those of the more conventional focus index, which is based on the sum of squares of shares in different products or regions. Diversification is captured in four dimens...