Four pigeons deprived to 80% of their laboratory free-feeding weights pecked keys under a multiple fixed-ratio 30 fixed-interval 5-min schedule of food presentation. Components alternated strictly with 15-s timeouts separating them; each was presented six times. When rates of pecking were stable, 2 pigeons' weights were reduced to 70%, and the other 2 pigeons' weights were increased to 82.5% to...

OBJECTIVES The purpose of this study was to compare the maximum screw-in forces generated during the movement of various Nickel-Titanium (NiTi) file systems. MATERIALS AND METHODS Forty simulated canals in resin blocks were randomly divided into 4 groups for the following instruments: Mtwo size 25/0.07 (MTW, VDW GmbH), Reciproc R25 (RPR, VDW GmbH), ProTaper Universal F2 (PTU, Dentsply Maillef...

1. Head injuries caused by aggressive pecking are an important welfare problem in quail farming. The aim of experiments one to three was to reduce the rate of aggressive pecking in breeder groups. 2. The quails were housed in pens containing litter, nest boxes and a dustbathing box. The experimental groups consisted of 2/14, 3/14, 5/15 or 5/35 (males/hens) quails which were introduced into the ...

This paper reports a new test of capital structure theories using a filtering technique to identify large investment projects. Contrary to the results of aggregate studies, firms respond to investment spikes by raising la rge amounts of external finance. Large firms raise debt finance and small firms issue new equity. These results run counter to predictions of the pecking order theory. New equ...

We study the financing patterns of large and indivisible projects – arguably the main focus of capital structure theory – by developing a filter that identifies investment spikes in a large population of firms. Consistent with the pecking-order theory we find that projects are predominantly financed with debt, particularly in large and profitable firms. However, we reject the hypothesis that in...

Pigeons were trained to step on a treadle to operate a grain hopper, under the control of an auditory stimulus. Subsequently, autoshaping consisted of pairing illumination of a response key with some of the subsequent tone presentations, reinforcement occurring only after a treadle response. One control group did not have a treadle or a treadle-response requirement. A second control group recei...

In this study, using various panel models and estimators, we find empirically that the trade-off and pecking order theories are not mutually exclusive in explaining quoted Portuguese companies capital structure decisions. However, the finance behaviour of quoted Portuguese companies comes close to that forecast by the pecking order theory: (i) the magnitude of the effects of financial deficit o...

Pigeons received training sessions in which a 3 x 3 matrix of pecking keys was lit with red light. Pecking a particular key (but not the other eight keys) produced grain reward on an intermittent schedule. After this key-location discrimination was learned, subjects received occasional, nonrewarded test sessions, followed immediately by a "relearning" session. The time between these test sessio...

We report results of a new test of the financing of large and indivisible projects – arguably the focus of most capital structure theory. We develop a filter that identifies investment spikes in a large population of firms. Consistent with the pecking-order theory we find that projects are predominantly financed with debt, particularly in large and profitable firms. However, we reject the hypot...

Modern trade theory emphasizes firm-level productivity differentials to explain the cross-border activities of non-financial firms. This study tests whether a productivity pecking order also determines international banking activities. Using a novel dataset that contains all German banks’ international activities, we estimate the ordered probability of a presence abroad (extensive margin) and t...