2955 One of the most important ingredients in the process of price discovery in financial markets is the flow of new information. The importance of information flow is perhaps most apparent during times of market “crisis,” when it often seems that bad news is being reported simultaneously from multiple sources. This clustering of news could occur because firms learn more during bad times, or be...

Evidence shows that asset price bubbles typically precede financial crises and financial crises are accompanied by the collapse of bubbles. In addition, stock market booms and busts are typically associated with credit market booms and busts. The recent US housing and stock market bubbles and the subsequent Great Recession that began in late 2007 provide an example. The stock market booms in th...

Iwasaki, Ichiro—Global financial crisis, corporate governance, and firm survival: The Russian experience Using a unique dataset obtained from large-scale panel enterprise surveys conducted in 2005 and 2009, we clarify the survival status of Russian industrial firms before and after the global financial crisis and empirically examine the determinants of firm survival. The estimation of the Cox p...

In this paper, we propose a theoretical model in which a banking crisis (or bank distress) causes declines in aggregate productivity. When borrowing firms need additional bank loans to continue their businesses, a high probability of bank failure discourages ex ante investments (e.g., R&D investment) by firms that enhance their productivity. In a general equilibrium setting, we also show that t...

The Axial Separation Module (ASM), which separates whole-blood specimens serially in Axial Process Containers (APC), was evaluated for clinical performance at the University of Virginia Health Sciences Center (UVA HSC) in a community-based outpatient laboratory (North Ridge Clinic). We hypothesized that moving the task of blood separation to point of care would reduce specimen turnaround time w...

Hospital operating rooms are experiencing higher costs and less available capacity, yet they typically generate the highest returns of all hospital departments. In the case study described in this paper, a process improvement team in a hospital Operating Room Department at aimed to address these issues by decreasing the turnaround time between surgical cases and increasing the percentage of fir...

The angular momentum of galaxies is routinely ascribed to a process of tidal torques acting during the early stages of gravitational collapse, and is predicted from the initial mass distribution using second-order perturbation theory and the Zel’dovich approximation. We have tested this theory for a flat hierarchical cosmogony using a large N -body simulation with sufficient dynamic range to in...

recently, the economic crisis has resulted in instability in stock exchange market and this has caused high volatilities in stock value of exchanged firms. under these conditions, considering uncertainty for a favorite investment is more serious than before. multi-objective portfolio selection (return, liquidity, risk and initial cost of investment objectives) using minmax fuzzy goal programmin...