We propose a network model of firm volatility in which the customers’ growth rate shocks influence the growth rates of their suppliers, larger suppliers have more customers, and the strength of a customer-supplier link depends on the size of the customer firm. Even though all shocks are i.i.d., the network model produces firm-level volatility and size distribution dynamics that are consistent w...

Failure in bank corporate governance has been seen as a contributing factor to excessive risk-taking pre-crisis with devastating implications as risks realised during the financial crisis. Unfortunately, the empirical evidence on the impact of managerial incentives on bank crisis performance is scarce. Moreover, bank strategy has not previously been accounted for. Hence, this paper presents nov...

This paper is an empirical investigation of the evolutionary principle of ‘growth of the fitter’. Previous studies suggest that growth does not discriminate between firms according to their fitness, when this latter is proxied by productivity. We use the profit rate (operating surplus/value added) as a proxy for fitness and explore its influence on subsequent growth rates by tracking 8405 Frenc...

Infrared spectra at 1.9-2.5 μm and narrowband photometry of three low-mass objects, DENIS-P J0205.4–1159, J1058.7–1547, and J1228.2–1547, are presented. As shown previously by Delfosse et al. (1997, A&A, 327, L25), DENIS-P J0205.4–1159 shows an absorption feature at 2.2 μm. We attribute this absorption to H2. A simple two-parameter analysis of the K-band spectrum of low-mass objects is presente...

Academics and practitioners have long recognized the importance of a firm’s industry membership in explaining its financial performance. Yet, contrary to conventional wisdom, recent research shows that industry-specific profitability forecasting models are not better than economy-wide models. This paper re-examines the incremental advantage of industry-specific models. We find considerable indu...

Abrasive water jet machine (AWJM) is a mechanical base non-conventional machining process. This is process of removal of materials by impact erosion of high pressure (1500-4000 bar), high velocity of water and entrained high velocity of grit abrasives on a work piece. Experimental investigations were conducted to assess the influence of abrasive water jet machining (AWJM) process parameters on ...

An Empirical Model of Growth Through Product Innovation Productivity dispersion across firms is large and persistent, and worker reallocation among firms is an important source of productivity growth. The purpose of the paper is to estimate the structure of an equilibrium model of growth through innovation that explains these facts. The model is a modified version of the Schumpeterian theory of...

K+-depleted 60S ribosomal subunits from rat liver were submitted to a mild treatment with ribonuclease T1. Ribonucleoprotein fragments could be separated on sucrose gradients only when the digested subunits were partially deproteinized with a high KCl concentration (0.6 M) which removed seven proteins more or less completely and 5S RNA. The RNA and protein content of each fragment has been char...

This study discusses the application of Taguchi method in assessing minimum entropy generation and maximum heat transfer rate for natural convection in an enclosure embedded with isothermal cylinder. The simulations were planned based on Taguchi’s L25 orthogonal array with each trial performed under different conditions of position and aspect ratio (AR) of the cylinder. The thermal lattice Bolt...