This paper examines determinants of creditor recoveries from defaulted debt instruments. First, we argue that to properly measure a debt instrument’s relative position in a firm’s debt structure, debt pari passu to the instrument must be accounted for. We thus propose a new measure of seniority and find that it is the most important determinant of recovery rates. Second, firm-level variables, e...

We first report on computations made using the GP/PARI package that show that the error term Δ(x) in the divisor problem is = M (x, 4)+ O∗(0.35x1/4 log x) when x ranges [1 081 080, 1010], where M (x, 4) is a smooth approximation. The remaining part (and in fact most) of the paper is devoted to showing that |Δ(x)| ≤ 0.397x1/2 when x ≥ 5 560 and that |Δ(x)| ≤ 0.764x1/3 log x when x ≥ 9 995. Sever...

The delivery method of [continuous (CONT) vs. every other day or intermittent (INT)] a glucogenic precursor (GP) which was contained glycerin (500 g/kg), mono-propylene glycol (250 g/kg), calcium propionate (150 g/kg), niacin (1 g/kg) and sulfate-Co (350 mg/kg) on performance, selected blood metabolites and liver enzymes were evaluated. Twenty-four multiparous Holstein fresh cows were ...

We describe three computer searches (in PARI/GP, Maple, and Mathematica, respectively) which led to the discovery of a number of identities of Rogers-Ramanujan type and identities of false theta functions.

This study was conducted to investigate the effects of garlic powder (GP) black seed (BS) and plant premix (GP and BS) in the diet on broiler growth performance and intestinal morphology. included 480 Hubbard broiler chicks(day-old). There were 4 treatment groups each consisting of 3 replicates. The four dietary treatments consisted of a control (basal diet), basal diet +0.5% GP, basal diet +0....

Recently, there has been an increase in the usage of centrally managed markets which are run by some form of pari-mutuel mechanism. A parimutuel mechanism is characterized by the ability to shield the market organizer from financial risk by paying the winners from the stakes of the losers. The recent introduction of new, modified pari-mutuel methods has spurred the growth of prediction markets ...