This study explores the role of issuance expenses in explaining the fall in stock value for OTC stock offerings that raise cash for debt reduction purposes. It estimates that over half of the sample's −2.79% two-day fall in stock value can be accounted for by issuance expenses when using a lower bound measure of issuance expenses. This estimate contrasts with the one-fifth estimate suggested by...

We present a search-based model of the interbank money market and monetary policy implementation. Banks are subject to reserve requirements and the central bank tenders reserves. Interbank payments redistribute holdings and banks trade with each other in a decentralized (over-the-counter) market. The central bank provides standing facilities where banks can either deposit surpluses or borrow to...

The overwhelming number of radio stations, both online and over the air, makes the choice of an appropriate program difficult. By profiling the program content of radio stations using Self-Organizing Maps we provide a reflection of a station’s program type and give potential listeners a visual clue for selecting radio stations. Profiles of current broadcasts indicate which program type a statio...

In 1976, Cameron et al. [2] proved that, if a finite generalized hexagon of order s admits a polarity, then either s or 3s is a perfect square. Their proof used standard eigenvalue arguments. Later on, Ott [3] showed that for a self polar finite thick generalized hexagon of order s, 3s always has to be a perfect square. His proof used Hecke algebras. It was surprising that one had to use this m...

Shared memory parallel architectures present a single unified address space to each processor. Usually the memory is physically distributed across the system but each processor is able to access any part of it through a single address space. The system hardware is responsible for presenting this abstraction to each processor. Communication between processors is done implicitly through normal me...

We propose using profile compatibility to differentiate genuine and fake product reviews. For each product, a collective profile is derived from a separate collection of reviews. Such a profile contains a number of aspects of the product, together with their descriptions. For a given unseen review about the same product, we build a test profile using the same approach. We then perform a bidirec...