Bankruptcy is an inevitable fate of repeated investments with leverage

Strategic Leverage and Employees’ Rights in Bankruptcy

The seniority of employees’ claims in the liquidation of insolvent firms, and their rights in the renegotiation of their debt varies greatly across countries. Using a simple model of strategic leverage, we show that the balance between these rights of employees and those of other creditors affects the strategic value of debt: in equilibrium, stronger employees’ seniority rights in bankruptcy li...

COALESCENCE: The Inevitable Fate of Data Processing

Cascading inventions and innovations in computer and communications technologies, and other technologies in the field of electronics and physics, have spawned numerous devices that represent a coalescence, or merging, of both technological and occupational functions. The one common thread in this process is the data resource, the raw material that these devices collect, process, and communicate...

Is an Automaker’s Road to Bankruptcy Paved with Customers’ Beliefs?

Is physician assistant autonomy inevitable?

After a half-century of development, the physician assistant (PA) movement is robust, dynamic, and has moved onto the world stage in ways its creators never imagined.1 One of the recurring topics discussed by PAs, nurse practitioners (NPs), and physicians is the autonomy of PAs and advanced practice registered nurses. A historical connection with organized medicine endeared the PA to physicians...

Homograft valves: is degeneration inevitable?

Since the first successful sub-coronary insertion (Ross 1962), the homograft aortic valve has been the favourite amongst many rypes of mechanicai or biological cardiac vaive repiacements ar the National Heart Hospital. Recent srudies on long rerm patient survivai afrer homograft insertion have reveaied excelient results (Bodnar er ai 1979), surpassed oniy by the autotranspianted puimonary valve...