Yes. We modify the calendar-time portfolio regressions approach to measure the abnormal returns of a takeover portfolio composed exclusively of successful bidders and targets from 1963 to 1995. This technique balances the announcement-period effects against the alleged post-announcement drift that is commonly thought to accompany takeovers. By using a GARCH(1,1) error specification, we overcome...

We study static quantum corrections of the Schwarzschild metric in the Boulware vacuum state. Due to the absence of a complete analytic expression for the full semiclassical Einstein equations we approach the problem by considering the s-wave approximation and solve numerically the associated backreaction equations. The solution, including quantum effects due to pure vacuum polarization, is sim...

When a charged insulating spherical shell is uniformly accelerated, an oppositely directed electric field is produced inside. Outside the field is the Born field of a uniformly accelerated charge, modified by a dipole. Radiation is produced. When the acceleration is annulled by the nearly uniform gravity field of an external shell with a 1 + β cos θ surface distribution of mass, the differently...

This paper presents a GARCH type volatility model with a time-varying unconditional volatility which is a function of macroeconomic information. It is an extension of the SPLINE GARCH model proposed by Engle and Rangel (2005). The advantage of the model proposed in this paper is that the macroeconomic information available (and/or forecasts) is used in the parameter estimation process. Based on...

We employ the World Bank Enterprise Survey (WBES) data collected from 2006-2011 for over 40,000 firms in 115 countries to study the effect of International Organization for Standardization (ISO) certification on firm performance measured by sales growth and labor productivity. Our results from both the univariate tests and multivariate regressions show that ISO-certified firms exhibit higher sa...

In this paper, we study the problem of single database private information retrieval, and present schemes with only logarithmic server-side communication complexity. Previously the best result could only achieve polylogarithmic communication, and was based on certain less well-studied assumptions in number theory [CMS99]. On the contrary, our construction is based on Paillier’s cryptosystem [P9...

In this paper a solution for a static spherically symmetric body is thoroughly considered in the framework of the Relativistic Theory of Gravitation. By the comparison of this solution with the Schwarzschild solution in General Relativity their substantial difference is established in the region close to the Schwarzschild sphere. Just this difference excludes the possibility of collapse to form...

The aim of this study was to investigate the asymmetric effects of exchange rate fluctuations on Stock index of Tehran Stock Exchange. For this purpose, we first calculated the exchange rate fluctuations using model General Autoregressive Conditional Heteroskedastic (GARCH), and then the effect of these fluctuations on the Stock index of Tehran Stock Exchange was estimated using the Generalized...

A test particle falling into a classical black hole crosses the event horizon and ends up in the singularity within finite eigentime. In the ‘more realistic’ case of a ‘classical’ evaporating black hole, an observer falling onto a black hole observes a sudden evaporation of the hole. This illustrates the fact that the discussion of the classical process commonly found in the literature may beco...