Risk Arbitrage in Takeovers

This article studies the role of risk arbitrageurs in takeoversand the source of their advantage. We show how the presenceof arbitrageurs affects the value of the target shares, sincearbitrageurs are more likely to tender. Therefore an arbitrageurhas the informational advantage of knowing he bought shares.In equilibrium, the number of arbitrageurs buying shares andthe price they pay are determined endogenously. We also presentseveral empirical implications, including the relationship amongtrading volume, takeover premium, liquidity of the shares, andthe number of risk arbitrageurs investing in one particulardeal.     

Novel tiO2 nanocatalysts for wastewater purification: tapping energy from the sun.

Water treatment using TiO2 semiconductor as a durable heterogeneous photocatalyst has been the focus of environmentalists in recent years. Currently, we developed an inexpensive and highly efficient approach for synthesizing nitrogen-doped TiO2 with lower band-gap energy that can respond to visible light. Doping on the molecular scale led to an enhanced nitrogen concentration of up to 21.8%. Reflectance measurements showed the synthesized N-doped TiO2 nanoparticles are catalytically active with the absorbance that extends into the visible region up to 600 nm. The water purification potential of this new class of compound was evaluated by studying the photodegradation of Acid Orange 7 (AO7) and E. coli. Experiments were conducted to compare the photocatalytic activities of N-doped TiO2 nanocatalysts and commercially available Degussa P25 power under identical solar light exposure. N-doped TiO2 demonstrated superior photocatalytic activities in both chemical compound degradation and bactericidal reactions. The result of this study shows the potential of applying new generations of catalyst for wastewater purification and disinfection.     

The effects of transition on the distribution of income in China

Using two large samples for 1988 and 1995 we decompose the Gini coefficient of household income according to type of income with the purpose of analyzing reasons for the rapid increase of inequality. The results show that the change in relative size of money income and its changed profile are found to be the major processes behind the rapid increase of income inequality in rural China. Changes in housing allocation and an increased number of retirees in combination with higher benefits have made inequality increase in urban China and in China as a whole. JEL classification: D31, P27.     

影视艺术家协会瘦马拉大车

资本和技术主宰一切的时代已经过去，创意经济时代已经来临。     

Apatite as an interesting seed to remove phosphorus from wastewater in constructed wetlands.

Intensive use of phosphates has resulted in high P levels in surface waters and therefore eutrophication problems. Over the last decade many studies have revealed the advantage of using specific materials with efficient phosphorus retention capacities. Recent studies state that Ca materials are of particular interest for long-term retention of P, but can induce negative effects. To improve P retention and avoid negative counter-effects we tested the potential of natural apatites. Apatite sorption was evaluated using batch and open reactor experiments. Batch experiments identify sorption mechanisms and the influence of the ionic characteristics of the solution; open reactor experiments evaluate sorption capacities in relation to the ionic composition of the solution and biomass development. In parallel, observation of the material by electron microscopy was used to give more precision information about the mechanisms involved. This work reveals the strong chemical affinity between apatites and phosphorus. Compared to other calcareous materials apatite is better able to maintain low outlet P levels. After more than 550 days feeding, sorption was still present and low P outlet levels were still being obtained when sufficient contact time and calcium content in the solution were ensured. This work demonstrates the advantages of using apatites for phosphorus removal in constructed wetlands. The behaviour of apatite in phosphorus retention is explained and its suitability for use in such extensive systems defined.     

对《形状和位置公差》新标准的理解和应用

通过对《形状和位置公差》新、旧国际的对比，综述了新、旧标准间的不同之处、便于迅速了解和应用新标准。     

宋庄：艺术并富裕着

宋庄，一个淳朴安宁的北京郊区村落潮白河运河温柔地环抱着她．周围风光旖旋，外表上她不过是个典型的北方农村宽阔的院落．高天平实的由黄砖砌成的瓦房。即使处在繁华都市的一隅．展现的依然是最质朴的景象．     

深厚覆盖层基础土工膜斜墙坝应力变形有限元分析

文章就某拟建的位于深厚覆盖层基础上的土工膜斜墙坝,进行了二维非线性有限元分析计算,计算工况分为竣工期和满蓄期,得到了各工况下坝体及坝基应力变形的分布与变化规律。研究结果表明:就本工程而言将土工膜斜墙坝修建在深厚覆盖层基础上是可行的。     

发言摘登

这次会议讨论的是一个很重要的题目──国企转型与企业文化构建。我们现在对企业文化的认识,如果同10年前相比,可以说是跨越了一个世纪。当时感觉企业文化是个新鲜东西,并不知道它有多大用途,好像很时髦,多数人对它的认识还是狭窄的、浮面的。10年后的今天,经过理论界的探索研究,特别是经过企业界的创新实践,使得我们对企业文化的认识有了很大的发展。中外企业文化杂志社利用庆祝创刊10周年的机会,组织大家共同研讨国企转型与企业文化构建,这个题目选得非常好。当前,企业文化在中国的需求,很重要的一点就是与国企转型联系在了一起。企业文化…     

浅谈基坑支护的有关技术问题

随着我国社会建设的持续推进,基坑工程数量急剧增加,基坑工程所处的地质条件、周边建筑物、通行道路及地下设施等外部环境越来越趋于复杂,明挖缓坡基坑趋于减少,基坑开挖后要保证周围建筑物、道路正常通行等要求的基坑工程数量趋于增多。基坑支护的安全性直接威胁到周边建筑物、道路、地下室及施工人员的安全,基坑一旦失稳,很可能会造成巨大的人员和财产损失,对社会安定造成重大影响。因此,基坑支护工程是基坑工程中的重中之重,需要设计、施工、监理及有关管理部门高度重视。