Greater partisan alignment among lawmakers enhances their ability to respond rapidly adverse shocks, but it also undermines the quality of checks and balances encourages excessive governmental intervention in local areas aligned with ruling party. We investigate how this form policy risk affects IPO underpricing. One standard-deviation increase political between politicians federal government t...

Before the beginning of the European colonialism era, the Persian Gulf was a communication link between Asia, Europe and Africa, through which silk, spices and other needed goods were transported into the Mediterranean. With the discovery of the Cape of Good Hope and the flourishing of the southern African routes, in order to control the trade routes, colonialists entered the arena, and worked ...

In this paper, a robust local controller has been designed to balance the power for distributed energy resources (DERs) in an islanded microgrid. Three different DER types are considered in this study; photovoltaic systems, battery energy storage systems, and synchronous generators. Since DER dynamics are nonlinear and uncertain, which may destabilize the power system or decrease the performanc...