How Issue Size, Risk, and Complexity are Influencing External Financing Costs: German IPOs Analyzed from an Economies of Scale Perspective

This paper is focused on the cost of raising capital in Germany. A cross-sectional analysis of flotation cost data for 117 IPOs over the years 1993–1998 is presented. We find average flotation costs to be 7.77 percent of gross proceeds, while underwriting fees average 5.01 percent. Our results extend the literature in two important directions. First, contrary to the conventional economies of scale view we find marginal spreads to be rather constant in gross proceeds and to be higher for more risky and more complex offerings. Fixed costs amount to 5 to 9 percent of underwriting fees. Second, by applying a principal component analysis we find issue size, an issuer risk factor, and an offering method complexity factor to have an economicaly meaningful impact on underwriting fees.     

矩形钢管混凝土短柱轴心受压性能研究

该文对8根不同参数的矩形钢管混凝土短柱进行了轴心受压试验，对试件的破坏形态进行了分析，提出了一个基于线性莫尔强度准则的轴心受压矩形钢管混凝土短柱的极限承载力计算公式，并用其他文献的试验成果进行了验算，计算结果与实验数据吻合良好，可为工程设计提供参考．     

Seasoned Equity Issues in a Closely Held Market: Evidence from France

This paper examines seasoned equity offerings in France.Even though a rights offering is the primary flotation method, French companies are increasingly usingthe relatively expensive public offering method. We show that the market reaction to the announcementof seasoned equity issues is significantly negative for rights issues and insignificantly negative forpublic offerings. Our results suggest that the adverse selection effect is greater for rights issues thanfor public offerings, due to stronger underwriter certification for the public offerings. We find that theshare price effect is positively related to blockholders take-up renouncements for firms with priorconcentrated ownership. For these firms, the favourable ownership dispersion effect offsets the adverse selection effect.     

工业用苯乙烯纯度测定方法的探讨

探讨了苯乙烯纯度分析的方法，分析了在苯乙烯纯度测试过程中的各种影响因素，从中可以看出采用毛细管柱（尤其是大口径毛细管柱可以在要求准确，快速的常规中控分析中采用归一化法代替内标法进行定量，这在实际工作中有着非常重要的意义。     

互通立交跨线箱梁支架设计及验算

本文对高速公路互通立交跨线桥的现浇箱梁支架设计方案及验算进行了阐述,主要包括支架布置、支架计算、结果分析等。利用大型有限元分析软件Midas Civil建立模型,对支架的受力、变形及稳定性进行了分析验算,为施工提供了可行依据。     

基于VR技术的油井压裂仿真系统的研制

目前对油井压裂技术培训主要是通过文字、图片等资料。油井压裂属于地下工作,员工无法真实地感受到地下工具的工作状况和状态。该系统采用虚拟现实技术将管柱压裂的整个过程以及压裂过程中各种工具的受力和变形情况进行计算机模拟,从而大大增加员工学习的兴趣和效率,进而提高管柱压裂过程的管理水平和实践水平。     

回车键在格式设置中的应用

在WORD的排版中,使用回车键可以改变错排、乱排的格式,轻松快捷的达到设置效果。     

桩柱式桥梁的墩柱内力计算

柱式桥墩由承台、柱式墩身和盖梁组成,墩柱是桥墩的重要组成部分。本文针对某桩柱式桥梁,对其墩柱进行内力计算。     

股票流动性与增发配股费用——来自中国上市公司的经验证据

基于中国上市公司A股公告日在2000年7月1日至2005年4月29日间的增发与配股事件为样本,采用高频交易数据构造的相对有效价差和相对报价价差对股票流动性增发与配股费用进行考察,结果表明股票流动性越高、增发配股费用越低。同时,使用不同费用的代理变量,以及使用Tobit回归以减轻证监会对承销费率管制的影响,均没有改变研究结论。     

高层剪力墙结构问题的探析

高层剪力墙结构形式和布局要适度合理,需要按照“强剪弱弯”、“强柱弱梁”的总体建筑理念设计。可采用三维杆系的薄壁柱空间分析方法或墙组元的分析方法进行计算,但对墙肢长的剪力墙,应该用空间杆的墙组元程序进行校验。异形柱结构是多肢的,其延性较差,由于截面的特殊性,其各项承载能力也有较大差异。高层剪力墙结构通过恰当的布局、设计,达到高层建筑荷载力量均衡的目标。