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This paper integrates elements from the theory of agency, the theory of property rights and the theory of finance to develop a theory of the ownership structure of the firm. We define the concept of agency costs, show its relationship to the "separation and control" issue, investigate the nature of the agency costs generated by the existence of debt and outside equity, demonstrate who bears these costs and why, and investigate the Pareto optimality of their existence. We also provide a new definition of the firm, and show how our analysis of the factors influencing the creation and issuance of debt and equity claims is a special case of the supply side of the completeness of markets problem.
In the Maizuru zone nearly whole the Triassic successions are developed. The Scythian to Aniso-Ladinian strata make a continuous sequence, in which are distinguished three faunizones, Neoschizous-"Bakevellia", Hollandites-"Danubites" and Monophyllites, corresponding to Scythian, lower Anisian and Aniso-Ladinian, respectively. Main portion of the Ladinian series is lacking in this region. The earliest Carnian or Ladino-Carnian Arakuran age is newly proposed founded on the palaeontological and stratigraphical studies on the Arakura formation. In the next Sakawan (not Carnian) Nabae group, two and probably one more, faunizones are recognizable, Palaeopharus-Lima yataensis, Tosapecten-Pseudolimea, and Pleuromya-Neoschizodus. The Sakawan age is classified into two subages better than the three formerly proposed by K. ICHIKAWA. The Norian sediments are probably represented by the Nakaiso conglomerate bed, although barren in fossil. The Rhaetic strata are not found at all like other regions in Japan. From the facies-analysis, the Palaeo-Maizuru Bay during the Scythian to Aniso-Ladinian epochs and the Palaeo-Maizuru Inland Sea during the Carnian epoch are assumed. Finally, the orogenic history of the Triassic period in this zone is briefly stated.
Limited inc abc
(1978)
On Claude Dupuy (1545-1594)
(1991)
Aboriginal migration from South East Asia is the beginning of Australian economic history. Prehistorians have tended to focus on means to sea travel rather than opportunity and motive to migrate. American and Australian measures of sea depth contours throw new light on possible migration paths and the conditions that might have prompted Aboriginal ancestors to move through island SE Asia to Australia. Interpretation of the data depends on a reconsideration of palaeodemography and the introduction of some economic and historical analysis. Several scenarios suggest possible conditions influencing trends and fluctuations in Aboriginal migration over the past 60,000 years.
The Tanzawa mountainland consists of a pyroclastic complex chiefly of basic composition which is intruded by a large mass of quartz-diorite at the center. This complex, well-known as the Misaka series, is the products of largescale geosynclinal volcanisms which took place during the period from the latest Oligocene to the middle Miocene in age. As compared with other geologic units, the present complex is characterized by its unusually thick accumulation of pyroclastic rocks, and by the intense hydrothermal alteration of the rocks, furnishing us an excellent section of the so-called green tuff series in the southeastern region of the Fossa Magna. Also the development of the products of interesting metamorphism of the quartz-diorite to the surrounding pyroclastic rocks is a feature uncommon in the other green tuff series of the above region. The crustal movement occurring during the volcanisms, however, make the structure of this complex highly complicate. In addition, the topographically unfavourable condition of this mountainland causes great hindrance to the geological investigation of this complex. Accordingly, the true natures of the complex remain unknown both stratigraphically and petrographically. Since 1948, the writer has been studying on the complex distributed in the eastern region of the Tanzawa massif from the volcano-stratigraphical point of view, some of the results of which have been published as miscellaneous reports. The main scope of this paper is to describe the stratigraphy, petrography, and the tectonic history of this complex. In this paper are also discussed the characteristics of the volcanic activities and the alterations represented by the same complex.
In addition to a series of questions closely associated with the spatial structure of the Sanctuary of Artemis, from where our work had started, the research has also raised, due to continuous confrontation, matters of greater complexity relating to the structure of the whole city´s layout. Here a brief account is given of the progress made and of the working hypothesis inferring from.
Measurement
(1931)
Der Verfasser untersucht die formalen und materialen Voraussetzungen der Messung in der Physik. Insbesondere sucht er zu zeigen, daß die üblichen Formulierungen, die etwa besagen, daß eine Messung eine Korrelation zwischen Zahlen und nichtnumerischen Gebilden bedeute, oder daß eine Messung im Grunde auf die Feststellung einer raumzeitlichen Koinzidenz hinauslaufe, zum mindesten recht unvollständige Charakterisierungen des physikalischen Verfahrens darstellen; in der Arbeit wird eine genauere Analyse versucht. Diese geht aus von den formalen Eigenschaften der Größenordnung, die jeder Messung zugrunde liegt. Eine geeignete Formulierung dieser Eigenschaften bietet sich dem Verfasser in den zwölf "Axiomen der Quantität" die in der S. 315 angegebenen Gestalt von Hölder aufgestellt worden sind. ...
Guessing
(1929)
The present paper deals mith the results of an environniental isotopic study in western Thessaly valley, carried out during the period 1968 - 1971. The isotopes used are 18O, D, Tritium, 18C and 14C. By the interpretation and evaluation of these resiilts useflil informations as regards the soiirce of recharge, the recharge mechanisrn and the dynamics of the flow system of the valley are provided.
In a joint enterprise, the ground water supplies in some Oases in UAR (namely El Kharga, El Dakhla, El Baharia and Siwa), in Wadi El Natrun (to the west of the Nile Delta), in Ayoun Mousa (West Sinai) and in some places along the Mediterranean Littoral, have been investigated. According to the dating of the water by the C14 method, the age of the artesian water from the Oases is between 25,000 and 40,000 years and the origin is obviously from rain water which fell and infiltrated within the "Nubian Sandstone" layers, occupying almost entirely the southern portion of the western Desert (the water underwent some evaporation before it disappeared in the subsurface as indicated from the loss of the 016). This process took place during one or more of the Pluvial periods which followed (and were not coincident with) the last "Würm" eustatic lowering of the Mediterranean. No infiltration water have presumably recharged the layers in question, so almost entirely fossil water reserves are tapped at present. The quantities of such reserves are unknown. More ancient waters, however, may be expected to the north of El Kharga and El Dakhla Oases. Such waters may- to their greater portions - enter these two oases from that direction. On the other hand, little or almost no water is expected to feed the reservoir from the opposite direction.