This study predicts cross-sectional investment (asset-normalized capital expenditures) innovations within the United States, Canada, Great Britain, (mainland) Europe, and Japan. We find that lagged stock returns are the most important cross-sectional predictors of investment increases – except in mainland Europe. American firms tend to react more than Japanese firms but less than Canadian and B...

In this study we investigate the performance of investment trust new issues during their first 750 days of trading. Research on the initial performance of new issues has documented that abnormal returns are obtained during the first day of trading. We compare the performance of investment trust new issues with the performance of size and style-based matching investment trusts taking the multina...

Let X be any variety in characteristic zero. V?X an open subset that has toroidal singularities. We show the existence of a canonical desingularization except for V. It is morphism f:Y?X, which does not modify V and transforms into embedding Y, with singularities extending those on Moreover, exceptional divisor simple normal crossings Y. The theorem naturally generalizes Hironaka desingularizat...

The research at University College London School of Medicine (UCLSM) is supported by the Wellcome Trust, Action Research, the Special Trustees of University College Hospital, and the Muscular Dystrophy Group of Great Britain. The studies have been carried out with the assistance of Dr. P. S. Tofts, Mr. D. Delpy and Mr. A. Chu of the Department of Medical Physics (UCLSM), and Mr. N.Taylor of Kin...

System-initiated digressive proposals may be used to introduce new and unexpected information into automated telephone services. These digressions may be viewed as particularly pronounced forms of unsolicited interruptions as they contain information not directly related to the caller’s intended activity. In human–human conversation, interruptions are considered to be speech acts which intrinsi...

In 1981, Paris and Wilkie [28] indicated it was an open question whether IΣ0 would satisfy the Second Incompleteness Theorem for Herbrand deduction. We will show that some specially formulated axiomizations for IΣ0 can evade the Herbrandized version of the Second Incompleteness Theorem.