Miller's Equilibrium, Shareholder Leverage Clienteles, and Optimal Capital Structure Author(s): E. Han Kim Source: The Journal of Finance, Vol. 37, No. 2, Papers and Proceedings of the Fortieth Annual Meeting of the American Finance Association, Washington, D.C., December 28-30, 1981 (May, 1982), pp. 301-319 Published by: Blackwell Publishing for the American Finance Association Stable URL: htt...

Hemoglobin is a major constituent of erythrocytes. Because it is non-diffusable and confined within a cell membrane and because of its buffering powers, three major physiochemical equilibria are involved in any acid or base change in blood. Ionic, osmotic and Donnan balance must be main­ tained.16 During the acidosis phase of cell­ ular respiration and increasing Pco2, bi­ carbonate enters eryt...

We revisit the issues on the thermodynamic property of stellar self-gravitating system arising from Tsallis’ non-extensive entropy. Previous papers (Taruya & Sakagami, Physica A 307 (2002) 185 (cond-mat/0107494); ibid. (2002) in press (condmat/0204315)) have revealed that the extremum-state of Tsallis entropy characterized by the so-called stellar polytrope has consistent thermodynamic structur...

There are three cases that we wish to study. Each involves the equilibrium adjustment in a competitive market to changes in exogenous constraints. Number one is the effect of a change in an input price; two is the effect of an input restriction; and three is the effect of an output quota. An example of the first case is the minimum wage. When the government increases the minimum wage, we want t...

This paper develops a general equilibrium model with the purpose of identifying fundamental determinants of market structure and their welfare impact. The main effects are derived from the interaction between horizontal and vertical differentiation, induced by different sets of exogenous and endogenous sunk costs. The former are found to be positively correlated with market concentration and ma...

Rajendra R. Zope, Tunna Baruah, Mark R. Pederson, and S. L. Richardson NSF CREST Center for Nanomaterials Characterization Science and Process Technology Howard University, School of Engineering, 2300 Sixth Street, N.W. Washington, D.C. 20059 Department of Physics, The University of Texas at El Paso, El Paso, TX 79958 and Center for Computational Materials Science, Code 6392, Naval Research Lab...

The complexity of the primary structure of human DNA is explored using methods from nonequilibrium statistical mechanics, dynamical systems theory, and information theory. A collection of statistical analyses is performed on the DNA data and the results are compared with sequences derived from different stochastic processes. The use of χ^{2} tests shows that DNA can not be described as a low or...

KcsA is a tetrameric K(+) channel that is activated by acidic pH. Under open conditions of the helix bundle crossing, the selectivity filter undergoes an equilibrium between permeable and impermeable conformations. Here we report that the population of the permeable conformation (p(perm)) positively correlates with the tetrameric stability and that the population in reconstituted high density l...

We analyze the canonical market game. There are e commodities, a single inside money, L markets in which commodities are exchanged for inside money, and n consumers. Each consumer’s strategy is the nonnegative vector of his commodity offers and his money bids. Given endowments and sufftciently large offers, the set of interior Nash equilibrium strategies is finite and non-empty. Hence the set o...

We analyze the internal consistency of using the market price of a firm’s equity to trigger a contractual change in the firm’s capital structure, given that the value of the equity itself depends on the firm’s capital structure. Of particular interest is the case of contingent capital for banks, in the form of debt that converts to equity, when conversion is triggered by a decline in the bank’s...