All in the Family or Public? Law and Appropriative Costs as Determinants of Ownership Structure

We examine how the legal protection of outside shareholders and the appropriative costs that they induce influence the incentives for private firms to go public. A higher degree of protection of shareholders can increase the appropriative costs associated with the conflict between managers and shareholders. To counteract this effect the managers/owners increase the share of the firm they retain so that, overall, higher protection of outsiders increases the likelihood of going public. In addition, we examine how the share of funds raised used to finance the firm affects both appropriative costs and the decision to sell.

Finite element approximation of the viscoelastic flow problem: a non-residual based stabilized formulation

In this paper, a three-field finite element stabilized formulation for the incompressible viscoelastic fluid flow problem is tested numerically. Starting from a residual based formulation, a non-residual based one is designed, the benefits of which are highlighted in this work. Both formulations allow one to deal with the convective nature of the problem and to use equal interpolation for the problem unknowns View the MathML sources-u-p (deviatoric stress, velocity and pressure). Additionally, some results from the numerical analysis of the formulation are stated. Numerical examples are presented to show the robustness of the method, which include the classical 4: 1 planar contraction problem and the flow over a confined cylinder case, as well as a two-fluid formulation for the planar jet buckling problem.Peer ReviewedPostprint (author's final draft

Testing for Unit Roots: Mexico's GDP

The study presents an analysis of the stochastic nature of the gross domestic product of Mexico for the period 1900-2001. Several specifications to test for the existence of unit roots are presented. The conventional tests, Dickey Fuller, Augmented Dickey Fuller and Phillips Perron, indicate that the series is nonstationary and integrated of order 1. The result is robust to the inclusion of exogenously and endogenously determined structural breaks. Interestingly, when structural breaks are determined endogenously, a structural break in 1907 is identified. We interpret this results as suggesting that setting the date of a structural break ex-ante might not be the most efficient procedure when testing for unit roots.Unit Root tests, structural Break and gross domestic product of Mexico.

All in the Family or Public? Law and Appropriative Costs as Determinants of Ownership Structure

We examine how the legal protection of outside shareholders and the appropriative costs that they induce influence the incentives for private firms to go public. A higher degree of protection of shareholders can increase the appropriative costs associated with the conflict between managers and shareholders. To counteract this effect the managers/owners increase the share of the firm they retain so that, overall, higher protection of outsiders increases the likelihood of going public. In addition, we examine how the share of funds raised used to finance the firm affects both appropriative costs and the decision to sell

An adaptive fixed-mesh ALE method for free surface flows

In this work we present a Fixed-Mesh ALE method for the numerical simulation of free surface flows capable of using an adaptive finite element mesh covering a background domain. This mesh is successively refined and unrefined at each time step in order to focus the computational effort on the spatial regions where it is required. Some of the main ingredients of the formulation are the use of an Arbitrary-Lagrangian–Eulerian formulation for computing temporal derivatives, the use of stabilization terms for stabilizing convection, stabilizing the lack of compatibility between velocity and pressure interpolation spaces, and stabilizing the ill-conditioning introduced by the cuts on the background finite element mesh, and the coupling of the algorithm with an adaptive mesh refinement procedure suitable for running on distributed memory environments. Algorithmic steps for the projection between meshes are presented together with the algebraic fractional step approach used for improving the condition number of the linear systems to be solved. The method is tested in several numerical examples. The expected convergence rates both in space and time are observed. Smooth solution fields for both velocity and pressure are obtained (as a result of the contribution of the stabilization terms). Finally, a good agreement between the numerical results and the reference experimental data is obtained.Postprint (published version

Numerical analysis of a stabilized finite element approximation for the three-field linearized viscoelastic fluid problem using arbitrary interpolations

The original publication is available at www.esaimm2an.org.In this paper we present the numerical analysis of a three-field stabilized finite element formulation recently proposed to approximate viscoelastic flows. The three-field viscoelastic fluid flow problem may suffer from two types of numerical instabilities: on the one hand we have the two inf-sup conditions related to the mixed nature problem and, on the other, the convective nature of the momentum and constitutive equations may produce global and local oscillations in the numerical approximation. Both can be overcome by resorting from the standard Galerkin method to a stabilized formulation. The one presented here is based on the subgrid scale concept, in which unresolvable scales of the continuous solution are approximately accounted for. In particular, the approach developed herein is based on the decomposition into their finite element component and a subscale, which is approximated properly to yield a stable formulation. The analyzed problem corresponds to a linearized version of the Navier-Stokes/Oldroyd-B case where the advection velocity of the momentum equation and the non-linear terms in the constitutive equation are treated using a fixed point strategy for the velocity and the velocity gradient. The proposed method permits the resolution of the problem using arbitrary interpolations for all the unknowns. We describe some important ingredients related to the design of the formulation and present the results of its numerical analysis. It is shown that the formulation is stable and optimally convergent for small Weissenberg numbers, independently of the interpolation used.Peer ReviewedPostprint (author's final draft

“Work with me”: service users’ perspectives on shared decision making in mental health

This document is the Accepted Manuscript version of the following article: Heather Castillo, and Shulamit Ramon, "“Work with me”: service users’ perspectives on shared decision making in mental health", Mental Health Review Journal, Vol. 22(3):166-178, July 2017. The Version of Record is available online at doi: https://doi.org/10.1108/MHRJ-01-2017-0005. © Emerald Publishing Limited 2017.Purpose: While shared decision making (SDM) in general health has proven effectiveness, it has received far less attention within mental health practice with a disconnection between policy and ideals. The purpose of this paper to review existing developments, contemporary challenges, and evidence regarding SDM in mental health with a particular focus on the perspectives of service users. Design/methodology/approach: This is a review of international papers analysed using narrative synthesis of relevant databases. Findings: The review shows significant barriers to the utilisation of SDM including ethical and legal frameworks, accountability and risk. The medical model of psychiatry and diagnostic stigma also contributes to a lack of professional acknowledgement of service user expertise. Service users experience an imbalance of power and feel they lack choices, being “done to” rather than “worked with”. Practical implications: The paper also presents perspectives about how barriers can be overcome, and service users enabled to take back power and acknowledge their own expertise. Originality/value: This review is the first with a particular focus on the perspectives of service users and SDM.Peer reviewedFinal Accepted Versio

Lanthanum ferromanganites thin films by sol–gel process. Influence of the organic/inorganic R ratio on the microstructural properties

Strontium-substituted lanthanum ferromanganites, La0.8Sr0.2Mn1−yFeyO3+δ (y=0, 0.2, 0.5, 0.8, 1), LSMF2Y (Y=10y) for solid oxide fuel cell (SOFC) cathode applications have been synthetized by a polymeric sol–gel route and deposited on YSZ substrates by a dip-coating process. The influence of the sol synthesis parameters (metal composition, organic and metal salt concentrations) on the thin film microstructure has been investigated. In this study, it has been shown that the organic/inorganic ratio, called R, appears as a key parameter to control the microstructural properties of final coatings