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The paper explains the absence of resultative secondary predication in Russian as arising from a conflict of inferential interpretations. It formalises the framework necessary to express this proposal in terms of abductive reasoning with Poole systems in Gricean contexts. The conflict is shown to arise for default rules regulating alternative realisation of verb-internally specified consequent states. The paper thus indicates that typological variation may be due not only to different parameter values but to general inferential properties of the syntax-semantics mapping. The proposed theory also contradicts some widespread proposals that the absence of resultative secondary predication is due to the absence of some particular language feature.
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The papers in this volume were presented at the eleventh meeting of the Austronesian Formal Linguistics Association (AFLA 11), held from April 23-25 at the Zentrum für Allgemeine Sprachwissenschaft, Berlin, Germany. The conference was organized by Hans-Martin Gärtner, Joachim Sabel, and myself, as part of the research project Clause Structure and Adjuncts in Austronesian Languages. We gratefully acknowledge the financial support by the German Research Foundation (Deutsche Forschungsgemeinschaft). We would like to thank Wayan Arka, Agibail Cohn, Laura Downing, Silke Hamann, S J Hannahs, Ray Harlow, Nikolaus Himmelmann, Yuchua E. Hsiao, Lillian Huang, Ed Keenan, Glyne Piggott, Charles Randriamasimanana, Joszef Szakos, Barbara Stiebels, Jane Tang, Lisa Travis, Noami Tsukido, Sam Wang, Elizabeth Zeitoun, Kie Ross Zuraw, and Marzena Zygis for reviewing the abstracts. We are thankful to Mechthild Bernhard, Jenny Ehrhardt, Fabienne Fritzsche, Theódóra Torfadóttir and Tue Trinh for their help during the conference. I would like to thank Theódóra for providing essential editorial assistance.
Table of Contents:
T. A. Hall (Indiana University): English syllabification as the interaction of markedness constraints
Antony D. Green: Opacity in Tiberian Hebrew: Morphology, not phonology
Sabine Zerbian (ZAS Berlin): Phonological Phrases in Xhosa (Southern Bantu)
Laura J. Downing (ZAS Berlin): What African Languages Tell Us About Accent Typology
Marzena Zygis (ZAS Berlin): (Un)markedness of trills: the case of Slavic r-palatalisation
Laura J. Downing (ZAS Berlin), Al Mtenje (University of Malawi), Bernd Pompino-Marschall (Humboldt-Universitat Berlin): Prosody and Information Structure in Chichewa
T. A. Hall (Indiana University). Silke Hamann (ZAS Berlin), Marzena Zygis (ZAS Berlin): The phonetics of stop assibilation
Christian Geng (ZAS Berlin), Christine Mooshammer (Universitat Kiel): The Hungarian palatal stop: phonological considerations and phonetic data
This paper sets out to analyze the influence of different types of venture capitalists on the performance of their portfolio firms around and after IPO. We investigate the hypothesis that different governance structures, objectives, and track records of different types of VCs have a significant impact on their respective IPOs. We explore this hypothesis using a data set embracing all IPOs that have occurred on Germany's Neuer Markt. Our main finding is that significant differences among the different VCs exist. Firms backed by independent VCs perform significantly better two years after IPO as compared to all other IPOs, and their share prices fluctuate less than those of their counterparts in this period of time. On the contrary, firms backed by public VCs show relative underperformance. The fact that this could occur implies that market participants did not correctly assess the role played by different types of VCs.
Using a normalized CES function with factor-augmenting technical progress, we estimate a supply-side system of the US economy from 1953 to 1998. Avoiding potential estimation biases that have occurred in earlier studies and putting a high emphasis on the consistency of the data set, required by the estimated system, we obtain robust results not only for the aggregate elasticity of substitution but also for the parameters of labor and capital augmenting technical change. We find that the elasticity of substitution is significantly below unity and that the growth rates of technical progress show an asymmetrical pattern where the growth of laboraugmenting technical progress is exponential, while that of capital is hyperbolic or logarithmic.
The papers of this 33th volume of the ZAS Papers in Linguistics present intermediate results of the ZAS-project on language acquisition. Currently we deal with the question of which functions children assign to the first grammatical forms they use productively. The goal is to identify grammatical features comprising the child's early grammar. This issue is investigated within the analyses of longitudinal data (cf. the papers of Gagarina/Bittner, Gagarina, Kühnast/Popova/Popov, Bewer) as well as within experimental research (see the papers of Bittner, Kühnast/Popova/Popov). The main topic of this volume is the acquisition of definite articles and verbal aspect.
Bewer – who has worked as a student assistant in the project for a long time and wrote her MA-thesis on the topic of the project – investigates children's acquisition of gender features in German. Kühnast/Popova/Popov discuss the correlations between the acquisition of definite articles and verbal aspect in Bulgarian. Bittner presents results of an experimental study on definite article perception in adult German. Gagarina traces the emergence of aspectual oppositions in Russian and examines the validity of the 'aspect before tense' hypothesis for L1-speaking children. Additionally, the paper of Gagarina/Bittner deals with the interrelation between the acquisition of finiteness and verb arguments in Russian and German.
In this study, we develop a technique for estimating a firm’s expected cost of equity capital derived from analyst consensus forecasts and stock prices. Building on the work of Gebhardt/Lee/-Swaminathan (2001) and Easton/Taylor/Shroff/Sougiannis (2002), our approach allows daily estimation, using only publicly available information at that date. We then estimate the expected cost of equity capital at the market, industry and individual firm level using historical German data from 1989-2002 and examine firm characteristics which are systematically related to these estimates. Finally, we demonstrate the applicability of the concept in a contemporary case study for DaimlerChrysler and the European automobile industry.
Der Bestimmung risikoadäquater Diskontierungssätze kommt bei der Unternehmensbedeutung eine zentrale Bedeutung zu. Wird zu deren Bestimmung in der praktischen Anwendung das CAPM verwendet, gilt es dabei, risikolose Zinssätze und Risikoprämien zu bestimmen, für die erwartete Renditen des Marktportfeuilles und Beta-Faktoren als Maßgrößen für das systematische Risiko benötigt werden. Passend zu den zu bewertenden erwarteten Überschussgrößen sollten auch die zur Diskontierung verwendeten Renditeforderungen die im Bewertungszeitpunkt erwarteten künftigen Renditen vergleichbarer Anlagen widerspiegeln. Die weitaus meisten Beiträge zur Operationalisierung des CAPM leiten die Renditeforderungen jedoch aus historischen Kapitalmarktrenditen ab. Wir zeigen in diesem Beitrag auf, wie erwartete künftige Renditen aus beobachtbaren Größen, vor allen den Zinsstrukturkurven und den beobachtbaren Analystenprognosen, zukunftsorientiert abgeleitet werden können. Damit wird eine konzeptionell schlüssigere Bewertung der im Bewertungszeitpunkt erwarteten künftigen Überschüsse mit den zeitgleich erwarteten künftigen Renditen ermöglicht.