We estimate firm-specific marginal cost of debt functions for a large panel of companies between 1980 and 2007. The marginal cost curves are identified by exogenous variation in the marginal tax benefits of debt. The location of a given company's cost of debt function varies with characteristics...

We study optimal capital structure by first estimating firm-specific cost and benefit functions for debt. The benefit functions are downward sloping reflecting that the incremental value of debt declines as more debt is used. The cost functions are upward sloping, reflecting the rising costs...

It has been generally recognised that the turbulent dispersion force plays an important role in interphase momentum transfer. However, the effect of the added mass stress on the momentum and mass transfer in bubble column bubbly flow has not been addressed appropriately. As the turbulent eddies...

A novel anti-Pb poisoning Sm and Fe co-doped Mn-Ce/AC catalyst was prepared by impregnation method for low-temperature NH3-SCR of NO reaction. Maintaining the excellent low-temperature activity of Mn-Ce/AC catalyst, Sm and Fe co-doping remarkably enhanced the catalyst’s Pb-resistance, with NO...

The development of catalysts with high NH3 -SCR activity in the presence of SO2 was urgent for non-electric industries to control NOx emission at low temperature. Herein, a series of Sm-doping MnFeOx catalysts were synthesized through a typical PEG-assisted co-precipitation method and applied...

This study seeks to examine the impact of knowledge management strategy on strategic performance in Chinese High Technology firms drawing on the theory of resource-based view. The results from moderated regression analysis show that the knowledge management strategy--performance connection is...

Despite substantial debt relief to HIPC Initiative completion point countries, long-term debt sustainability remains a challenge. This paper examines a number of structural factors affecting external debt sustainability. It shows that in HIPC completion point countries (i) the export base...