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We study the effects of takeover feasibility on asset prices and returns in a unified framework. We show theoretically that takeover protections increase equity risk, stock returns, and bond yields by removing a valuable put option to sell the firm, notabl ...
Capital ages and must eventually be replaced. We propose a theory of financing in which firms borrow to finance investment and deleverage as capital ages to have enough financial slack to finance replacement investments. To achieve these dynamics, firms is ...
This thesis uses machine learning techniques and text data to investigate the relationships that arise between the Fed and financial markets, and their consequences for asset prices.The first chapter, entitled Market Expectations and the Impact of Unconven ...
A yield curve is a line plotting bond yields (i.e. interest rates) as a function of their maturity date (their "expiration date''). When on a national scale, the yield curve represents the underlying interest rate structure of a country's economy. It is fu ...
Reactive intermediates formed upon irradiation of chromophoric dissolved organic matter (CDOM) contribute to the degradation of various organic contaminants in surface waters. Besides well-studied "short-lived" photo oxidants, such as triplet state CDOM (3 ...
The Elastic Plastic Stress Field method (EPSF) is a widely used tool for design and verification of structural concrete works. EPSF uses the elastic-plastic material behavior, which allows accounting for compatibility conditions and thus provides exact sol ...
Enzyme guided catalysis of biological reactions and their industrial synthesis is of great interest, accounting for less energy consumption, eco-friendly solutions and high substrate specificity provided by these proteins. The textile industry accounts for ...
The chemical complexity of lignin remains a major challengeforlignin valorization into commodity and fine chemicals. A knowledgeof the lignin features that favor its valorization and which plantsproduce such lignins can be used in plant selection or to eng ...
In this study, we report the effects of co-catalysts of Pt nanoparticles and Fe3O4 clusters on photocatalytic behaviors of g-C3N4 (CN) and the use of the resulting photocatalyst for CO2 photoreduction to solar fuels in a flow reactor operated at room-tempe ...
In homogeneous catalysis, the turnover frequency (TOF) and turnover number (TON) are the most commonly used quantities that experimentally describe catalytic activity. Computational studies, on the other hand, generally yield the ubiquitous free energy pro ...