bluuebunny/crossref_metadata_2025_split huggingface dataset:
The Future of Private Equity
Authors: Kaplan Steve 
Published: October 2009

A distinguished University of Chicago financial economist and longtime observer of private equity markets responds to questions like the following:

With a track record that now stretches in some cases almost 30 years, what have private equity firms accomplished? What effects have they had on the performance of the companies they invest in, and have they been good for the economy?
How will highly leveraged PE portfolio companies fare during the current downturn, especially with over $400 billion of loans coming due in the next three to five years?
With PE firms now sitting on an estimated $500 billion in capital and leveraged loan markets shut down, are the firms now contemplating new kinds of investment that require less debt?
If and when the industry makes a comeback, do you expect any major changes that might allow us to avoid another boom‐and‐bust cycle? Have the PE firms or their investors made any obvious mistakes that contribute to such cycles, and are they now showing any signs of having learned from those mistakes?

Despite the current problems, the operating capabilities of the best PE firms, together with their ability to manage high leverage and the increased receptiveness of public company CEOs and boards to PE investments, have all helped establish private equity as “a permanent asset class.” Although many of the deals done in 2006 and 2007 were probably overpriced, the “cov‐lite” deal structures, deferred repayments of principal, and larger coverage ratios have afforded more room for reworking troubled deals. As a result of that flexibility, and of the kinds of companies that get taken private in leveraged deals in the first place, most troubled PE portfolio companies should end up being restructured efficiently, thereby limiting the damage to the overall economy.Part of the restructuring process involves the use of the PE industry's huge stockpile of capital to purchase distressed debt and inject new equity into troubled deals (in many cases, their own). At the same time the PE firms have been working hard to rescue their own deals, some have been taking significant minority positions in public companies, while gaining some measure of control.Finally, to limit overpriced and overlev‐eraged deals in the future, and so avoid the boom‐and‐bust cycle that appears to have become a predictable part of the industry, the discussion explores the possibility that the limited partners and debt providers that supply most of the capital for PE investments will insist on larger commitments of equity by sponsors to their own funds and individual deals.
Is There One Best Way to Sell a Company? Auctions Versus Negotiations and Controlled Sales1
Authors: Boone Audra L. , Mulherin J. Harold 
Published: October 2009

For managements and boards that have decided that the value‐maximizing choice is to sell their companies, the board must then address another important question: what is the best way to sell the company? Should they use a wide‐ranging auction that seeks to attract the largest number of bidders, exclusive negotiation with a single bidder, or a “controlled sale” with a limited group of potential buyers?In a much cited 1996 article in the American Economic Review called “Auctions Versus Negotiations,” economists Jeremy Bulow and Paul Klemperer argued that there is “no merit in arguments that negotiation should be restricted to one or a few bidders to allow the seller to maintain control of the negotiating process.” But in their series of studies of the corporate M&A sales process over the past five years, the authors of this article have come to a very different conclusion. Contrary to the conventional wisdom, wide‐ranging auctions that seek the greatest number of bidders are far from the dominant approach. Roughly half of the large M&A deals investigated by the authors were accomplished through negotiations with single bidders. At the same time, full‐fledged auctions accounted for only about half of the deals involving multiple bidders, while the other half were classified as controlled sales aimed at a small number of carefully selected potential buyers.In their attempt to explain this preference for negotiations and controlled sales over auctions in M&A sales, the authors draw extensive parallels with the market for initial public offerings. As in the “bookbuilding” approach that now dominates the IPO process in virtually all global capital markets, the decision to limit the number of bidders through either negotiations or controlled sales appears to have the advantage of eliciting more aggressive bids from the “most qualified” buyers. Or, to put this another way, auctions appear to have the effect of discouraging such buyers from participating in the process.
Post‐Chapter 11 Bankruptcy Performance: Avoiding Chapter 22
Authors: Altman Edward I. , Kant Tushar , Rattanaruengyot Thongchai 
Published: October 2009

Despite the long experience in the U.S. with restructuring companies in bankruptcy, there remains a persistent tendency for companies to emerge from Chapter 11 with too much debt and too little profitability. In this article, the author uses a variant of his well‐known “Z‐Score” bankruptcy prediction model to assess the future viability of companies when emerging from bankruptcy, including the likelihood that they will file again—a surprisingly common phenomenon that is now referred to as “Chapter 22.”The author reports that those companies that filed second bankruptcy petitions were both significantly less profitable and more highly leveraged than those that emerged and continued as going concerns. Indeed, the average financial profile and bond rating equivalent for the “Chapter 22” companies on emerging from their first bankruptcies were not much better than those of companies in default.The authors findings also suggest that a credible corporate distress prediction model could be used as an independent, unbiased method for assessing the future viability of proposed reorganization plans. Another potential application of the model is by the creditors of the “old” company when assessing the investment value of the new package of securities, including new equity, offered in the plan.
International Council for Standardization in Haematology technical report 1‐2009: new reference material for haemiglobincyanide for use in standardization of blood haemoglobin measurements
Authors: DAVIS BRUCE H. , JUNGERIUS BART ,   On behalf of International Council for the Standardization of Haematology (ICSH)
Published: October 2009

SummaryThe International Council for Standardization in Haematology (ICSH) in conjunction with Eurotrol, B.V. has released a new lot of the haemiglobincyanide or haemoglobin standard. This technical report describes the purpose, methodology in manufacturing, summary of value assignment data and availability of this standard material used for the standardization and calibration of whole blood haemoglobin measurements on most haemoglobinometers and automated blood cell counters throughout the world.
Feasibility of Adolescents to Conduct Community‐Based Participatory Research on Obesity and Diabetes in Rural Appalachia
Authors: Bardwell Genevieve , Morton Cathy , Chester Ann , Pancoska Petr , Buch Shama , Cecchetti Alfred , Vecchio Marcella , Paulsen Stephanie , Groark Stephen , Branch Robert A. 
Published: October 2009

AbstractCommunity‐Based Participatory Research (CBPR) has been advocated to translate advances in health care sciences to the community. We describe a novel approach applied to obesity management and diabetes prevention. This takes advantage of a network of science clubs organized by the Health Sciences and Technology Academy (HSTA) for extracurricular activity of disadvantaged high school students in rural Appalachia. Physician scientists and educators provided an intensive summer course on CBPR, ethics, and study design on obesity management and diabetes prevention. Ethical certification for CBPR investigation was obtained for 210 students and 18 mentors for a study on the prevalence of obesity and Type II diabetes within their community. Over a 6‐month period, 989 had a collection of complete analyzable data, of which 103 had diabetes. The proportion with obesity (BMI ≥ 30) was over 50%. The frequency of diabetes was related to increasing BMI. When BMI ≥ 40, the frequency approached 50%, and exhibited a clear familial distribution. We conclude that trained adolescents can effectively conduct CBPR, and obesity and diabetes are more prevalent than previously reported in this community. This experience provides encouragement to conduct future studies to infl uence weight management from high‐risk populations in this medically disadvantaged community.
THE SEPARATRIX VALUES OF A PLANAR HOMOCLINIC LOOP
Authors: ZHAO LIQIN , WANG XUEXING 
Published: October 2009

It is well known that the stability of a homoclinic loop for planar vector fields is closely related to the cyclicity of this homoclinic loop. For a planar homoclinic loop consisting of a hyperbolic saddle, the loop values are crucial to the stability. The loop values are divided into two classes: saddle values and separatrix values. The saddle values are related to Dulac map near the saddle, and the separatrix values are related to the regular map near the homoclinic loop. The alternation of these quantities determines the stability of the homoclinic loop. So, it is important to investigate the separatrix values in both theory and for practical applications. For a given planar vector field, we can try to calculate the saddle values by means of dual Liapunov constants or by finding elementary invariants developed by Liu and Li [1990]. The first separatrix value was obtained by Dulac. The second separatrix value was given by Han and Zhu [2007] and by Hu and Feng [2001] independently. The third separatrix value was obtained by Luo and Li [2005] by means of Tkachev's method. In this paper, we shall establish the formulae for the third and fourth separatrix values. As applications, we will give an example with the homoclinic bifurcation of order 9 and prove that the cyclicity of homoclinic loop together with double homoclinic loops is 57.
ON PERIODIC ORBITS OF 3D SYMMETRIC PIECEWISE LINEAR SYSTEMS WITH REAL TRIPLE EIGENVALUES
Authors: PONCE E. , ROS J. 
Published: October 2009

The counter-intuitive appearance of stable periodic orbits in three-dimensional piecewise linear systems has been recently reported for stable saturated control systems with high gain and real triple eigenvalues [Moreno & Suárez 2004]. In this letter using several mathematical tools, the reported sudden phenomenon is explained, and the analysis is completed by providing a global bifurcation diagram of the symmetric periodic orbits. Approximate methods are used only to illustrate the nonlinear behavior with respect to the bifurcation parameter. Analytical methods are employed to rigorously prove the main result. The employed techniques are useful not only for the family studied but also for generic three-dimensional symmetric piecewise linear systems.
Synthesis and Characterization of New Schiff Bases Derived from N (1)‐Substituted Isatin with Dithiooxamide and Their Co(II), Ni(II), Cu(II), Pd(II), and Pt(IV) Complexes
Authors: Abdul-Ghani Ahlam J. , Khaleel Asmaa M. N. 
Published: October 2009

Three new Schiff bases of N‐substituted isatin LI, LII, and LIII = Schiff base of N‐acetylisatin, N‐benzylisatin, and N‐benzoylisatin, respectively, and their metal complexes , , C3 = [CuLICl(H2O)]Cl · 0.5BuOH,
, , C6a = [CoLIICl]Cl · 0.4H2O · 0.3DMSO, C6b = [CoLIICl]Cl · 0.3H2O · 0.1BuOH, C7 = [NiLIICl2], C8 = [CuLII]Cl2 · H2O , , , C11a = [Co(LIII)]C12 · H2O, C11b = [Co(LIII)]Cl2 · 0.2H2O, and , were reported. The complexes were characterized by elemental analyses, metal and chloride content, spectroscopic methods, magnetic moments, conductivity measurements, and thermal studies. Some of these compounds were tested as antibacterial and antifungal agents against Staphylococcus aureus, Proteus vulgaris, Candida albicans, and Aspergillus niger.
Evaluation of the Town Energy Balance Model in Cold and Snowy Conditions during the Montreal Urban Snow Experiment 2005
Authors: Lemonsu A. , Bélair S. , Mailhot J. , Leroyer S. 
Published: October 2009

Abstract
Using the Montreal Urban Snow Experiment (MUSE) 2005 database, surface radiation and energy exchanges are simulated in offline mode with the Town Energy Balance (TEB) and the Interactions between Soil, Biosphere, and Atmosphere (ISBA) parameterizations over a heavily populated residential area of Montreal, Quebec, Canada, during the winter–spring transition period (from March to April 2005). The comparison of simulations with flux measurements indicates that the system performs well when roads and alleys are snow covered. In contrast, the storage heat flux is largely underestimated in favor of the sensible heat flux at the end of the period when snow is melted. An evaluation and an improvement of TEB’s snow parameterization have also been conducted by using snow property measurements taken during intensive observational periods. Snow density, depth, and albedo are correctly simulated by TEB for alleys where snow cover is relatively homogeneous. Results are not as good for the evolution of snow on roads, which is more challenging because of spatial and temporal variability related to human activity. An analysis of the residual term of the energy budget—including contributions of snowmelt, heat storage, and anthropogenic heat—is performed by using modeling results and observations. It is found that snowmelt and anthropogenic heat fluxes are reasonably well represented by TEB–ISBA, whereas storage heat flux is underestimated.
The Sensitivity of Simulated River Discharge to Land Surface Representation and Meteorological Forcings
Authors: Materia Stefano , Dirmeyer Paul A. , Guo Zhichang , Alessandri Andrea , Navarra Antonio 
Published: October 2009

Abstract
The discharge of freshwater into oceans represents a fundamental process in the global climate system, and this flux is taken into account in simulations with general circulation models (GCMs). Moreover, the availability of realistic river routing schemes is a powerful instrument to assess the validity of land surface components, which have been recognized to be crucial for the global climate simulation. In this study, surface and subsurface runoff generated by the 13 land surface schemes (LSSs) participating in the Second Global Soil Wetness Project (GSWP-2) are used as input fields for the Hydrology Discharge (HD) routing model to simulate discharge for 30 of the world’s largest rivers. The simplest land surface models do not provide a good representation of runoff, and routed river flows using these inputs are affected by many biases. On the other hand, HD shows the best simulations when forced by two of the more sophisticated schemes. The multimodel ensemble GSWP-2 generates the best phasing of the annual cycle as well as a good representation of absolute values, although the ensemble mean tends to smooth the peaks. Finally, the intermodel comparison shows the limits and deficiencies of a velocity-constant routing model such as HD, particularly in the phase of mean annual discharge.
The second part of the study assesses the sensitivity of river discharge to the variation of external meteorological forcing. The Center for Ocean–Land–Atmosphere Studies version of the SSiB model is constrained with different meteorological fields and the resulting runoff is used as input for HD. River flow is most sensitive to precipitation variability, but changes in radiative forcing affect discharge as well, presumably because of the interaction with evaporation. Also, this analysis provides an estimate of the sensitivity of river discharge to precipitation variations. A few areas (e.g., central and eastern Asia, the Mediterranean, and much of the United States) show a magnified response of river discharge to a given percentage change in precipitation. Hence, an amplified effect of droughts as indicated by the consensus of climate change predictions may occur in places such as the Mediterranean. Conversely, increasing summer precipitation foreseen in places like southern and eastern Asia may amplify floods in these poor and heavily populated regions. Globally, a 1% fluctuation in precipitation forcing results in an average 2.3% change in discharge. These results can be used for the definition and assessment of new strategies for land use and water management in the near future.
Vertically Pointing Airborne Doppler Radar Observations of Kelvin–Helmholtz Billows
Authors: Geerts Bart , Miao Qun 
Published: October 2009

Abstract
A train of Kelvin–Helmholtz billows in a deep stratiform cloud over a mountain range is documented using data from a high-resolution vertically pointing airborne Doppler radar. The billows had a spacing of 2–2.5 km and a small aspect ratio. The formation and decay of the billows appear to be related to flow acceleration over a mountain.
Interpretation of self‐talk and post‐lecture affective states of higher education students: A self‐determination theory perspective
Authors: Oliver Emily J. , Markland David. , Hardy James. 
Published: October 2009

BackgroundSelf‐determination theory posits that informational versus controlling interpretations of intra‐personal events have positive and negative implications, respectively, for well‐being. Self‐talk represents an intra‐personal event that could be interpreted as informational or controlling and may attenuate or exacerbate the negative effects of a stressful experience.AimsThe present study investigated relationships between students' informational and controlling interpretations of self‐talk, and their post‐lecture affective state. An interactive hypothesis, whereby self‐talk would be more strongly associated with well‐being when students reported experiencing the lecture as stressful, was also tested.SampleParticipants were 146 male and female undergraduate students (M age = 19.25, SD = 2.57) enrolled on research methods/statistics modules.MethodsImmediately post‐lecture, participants completed a measure of informational and controlling self‐talk, short forms of the State‐Trait Anxiety Inventory and the Positive and Negative Affect Scale, and self‐report measures of their experience and understanding of the lecture.ResultsFindings from moderated hierarchical regression analyses indicated that informational self‐talk was positively associated with positive affect regardless of students' experience or understanding of a lecture. Significant interactions were found between controlling self‐talk and experience and understanding, in that a negative experience or poor understanding predicted higher state anxiety and negative affect when students used high, but not low, levels of controlling self‐talk.ConclusionsThe functional significance of students' self‐talk may have implications for affect in higher education, suggesting that providers should promote the use of self‐talk that emphasizses students' autonomy and competence.
An exploration of the presence and content of metacognitive beliefs about depressive rumination in Pakistani women
Authors: Rafique Zounish 
Published: October 2009

Objectives. To explore the experience of depression in Pakistani women, the coping strategies employed, and the presence and content of metacognitive beliefs about rumination.Methods. Seven semi‐structured interviews were conducted with Pakistani women and analysed using template analysis with the inclusion of a priori themes.Results. Women's experiences of depression consisted of descriptions of physical, behavioural, and psychological symptoms, as well as their understandings of depression including being alone with their problems and the factors that caused their depression. Coping strategies they employed included talking to someone, distraction; using antidepressant medication and positive self‐talk. Consideration of rumination included descriptions of the content being largely past‐focused and around ‘why?’. Both negative and positive beliefs about rumination were revealed.Conclusions. Depression was seen as a very lonely experience, which had an impact on their physical and psychological health. Women demonstrated an understanding of the interplay between their emotional experience, ways of thinking, physical health, and behaviour. On the whole, results were consistent with the clinical metacognitive model of depression in that both positive and negative beliefs about rumination were evident for most of the women. However, positive beliefs did not appear to be as universally endorsed as previous findings have found – possible explanations are discussed. Clinical implications and ideas for future research are outlined.
Young adults' social drinking as explained by an augmented theory of planned behaviour: The roles of prototypes, willingness, and gender
Authors: Zimmermann Friederike , Sieverding Monika 
Published: October 2009

Objective. This study focused on young adults' alcohol consumption in social contexts. A dual‐process model (including reasoned action and social reaction) was applied by combining the theory of planned behaviour (TPB) and the prototype/willingness model. A key question was whether willingness and actor and abstainer prototype variables would augment the TPB by increasing explained variance.Design. Participants completed questionnaires prior to spending an evening socializing over the weekend (Time 1). Behavioural data were obtained by telephone interviews a few days after the social drinking occasion (Time 2).Method. N =300 people (mean age 25 years) took part in the study. The outcome measure of pure alcohol in grams was calculated based on participants' reports about their consumed drinks. Multigroup path analyses were conducted because of sex differences on behavioural and psychological variables.Results. The TPB explained 35% of the variance in men's and 41% in women's alcohol consumption. Augmentation with prototype perception and willingness contributed significantly to the prediction of intention (ΔR2=.07) and alcohol consumption for men (ΔR2=.14). A significant interaction implied that willingness led to heavy drinking particularly among those men who made negative evaluations of the abstainer prototype.Conclusion. Women's alcohol consumption is explained by TPB variables via a more controlled reasoned‐action path only, whereas additional processes (e.g., pursuing the actor image intentionally, rejecting the abstainer image more intuitively) are important for men. The moderating role of gender is discussed in light of traditional gender roles and recent trends in alcohol consumption.