We develop a new identification strategy to evaluate the impact of the geographic expansion of a bank holding company (BHC) across US metropolitan statistical areas (MSAs) on BHC risk. For the ...average BHC, the instrumental variable results suggest that geographic expansion materially reduces risk. Geographic diversification does not affect loan quality. The results are consistent with arguments that geographic expansion lowers risk by reducing exposure to idiosyncratic local risks and inconsistent with arguments that expansion, on net, increases risk by reducing the ability of BHCs to monitor loans and manage risks.
This paper assesses the impact of the geographic diversification of bank holding company (BHC) assets across the United States on their market valuations. Using two new identification strategies ...based on the dynamic process of interstate bank deregulation, we find that exogenous increases in geographic diversity reduced BHC valuations. We also find that the geographic diversification of BHC assets increased insider lending and reduced loan quality. Taken together, these findings are consistent with theories predicting that geographic diversity intensifies agency problems.
We demonstrate coherent control over the photoelectron circular dichroism in randomly oriented chiral molecules, based on quantum interference between multiple photoionization pathways. To ...significantly enhance the chiral signature, we use a finite manifold of indistinguishable (1+1^{'}) resonantly enhanced multiphoton ionization pathways interfering at a common photoelectron energy but probing different intermediate states. We show that this coherent control mechanism maximizes the number of molecular states that constructively contribute to the dichroism at an optimal photoelectron energy and thus outperforms other schemes, including interference between opposite-parity pathways driven by bichromatic (ω, 2ω) fields as well as sequential pump-probe ionization.
Particle stimulated nucleation was incorporated into a cellular automata dynamic recrystallization model to determine the effect of PSN on DRX kinetics. CA DRX kinetics with PSN resulted in larger ...Avrami exponents than typically found with DRX. The Avrami exponents were similar to those of a Waspaloy ingot undergoing PSN.
► Denver, Colorado is expanding its rail transit system. ► Denver has experienced a large amount of transit-oriented development (TOD). ► Downtown Denver has experienced the majority of the TOD. ► ...TOD locations are denser than non-TOD locations in Denver. ► Regional TOD in Denver varies by corridor and station type.
As large cities seek to expand their transit systems to accommodate increasing travel demand, provide alternatives to growing road traffic congestion, and improve accessibility, more research attention has been focused on the land use effects of transit, most notably in the form of transit-oriented development (TOD). Many cities in the USA are starting or expanding rail transit systems with objectives that include more focused economic development near transit stations and along transit corridors. Denver, Colorado is one of the cities that is aggressively expanding its rail transit system and encouraging high-density, mixed-use development in the station areas. This study analyzes TOD data from the Denver Regional Transportation District and the Denver Regional Council of Governments for 0.5-mile areas around current and proposed rail transit stations. Early evidence indicates that the scope of transit-oriented development in Denver is considerable, resulting in nearly 18,000 residential dwelling units, 5.3 million square feet of retail space, 5.4 million square feet of office space, and 6.2 million square feet of medical space within one-half mile of existing or planned transit stations from 1997 to 2010. As one of the critical elements of the regional land use and transportation plan, the rail transit system and the emphasis on transit-oriented development is contributing to an increase in the average density of the Denver urbanized area.
tervening pro
, or inteins, are mobile genetic elements that are translated within host polypeptides and removed at the protein level by splicing. In protein splicing, a self-mediated reaction ...removes the intein, leaving a peptide bond in place. While protein splicing can proceed in the absence of external cofactors, several examples of conditional protein splicing (CPS) have emerged. In CPS, the rate and accuracy of splicing are highly dependent on environmental conditions. Because the activity of the intein-containing host protein is compromised prior to splicing and inteins are highly abundant in the microbial world, CPS represents an emerging form of posttranslational regulation that is potentially widespread in microbes. Reactive chlorine species (RCS) are highly potent oxidants encountered by bacteria in a variety of natural environments, including within cells of the mammalian innate immune system. Here, we demonstrate that two naturally occurring RCS, namely, hypochlorous acid (the active compound in bleach) and
-chlorotaurine, can reversibly block splicing of DnaB inteins from Mycobacterium leprae and Mycobacterium smegmatis
. Further, using a reporter that monitors DnaB intein activity within M. smegmatis, we show that DnaB protein splicing is inhibited by RCS in the native host. DnaB, an essential replicative helicase, is the most common intein-housing protein in bacteria. These results add to the growing list of environmental conditions that are relevant to the survival of the intein-containing host and influence protein splicing, as well as suggesting a novel mycobacterial response to RCS. We propose a model in which DnaB splicing, and therefore replication, is paused when these mycobacteria encounter RCS.
Inteins are both widespread and abundant in microbes, including within several bacterial and fungal pathogens. Inteins are domains translated within host proteins and removed at the protein level by splicing. Traditionally considered molecular parasites, some inteins have emerged in recent years as adaptive posttranslational regulatory elements. Several studies have demonstrated CPS, in which the rate and accuracy of protein splicing, and thus host protein functions, are responsive to environmental conditions relevant to the intein-containing organism. In this work, we demonstrate that two naturally occurring RCS, including the active compound in household bleach, reversibly inhibit protein splicing of Mycobacterium leprae and Mycobacterium smegmatis DnaB inteins. In addition to describing a new physiologically relevant condition that can temporarily inhibit protein splicing, this study suggests a novel stress response in Mycobacterium, a bacterial genus of tremendous importance to humans.
•We examine the effects of work and residence proximity to transit station areas on travel behaviors of workers.•Sustainable travel behaviors are measured by trip generation, mode, and ...distance.•Living near transit does not increase the use of non-car modes for work commutes.•Workplace proximity to transit is more influential upon commute and personal trip mode.•Locating jobs nearer to transit may be a more effective in promoting more non-car usage.
Transit development is one planning strategy that seeks to partially overcome limitations of low-density single use car oriented development styles. While many studies focus on how residential proximity to transit influences the travel behaviors of individuals, the effect of workplace proximity to transit is less understood. This paper asks, does working near a light rail transit station influence the travel behaviors of workers differently than workers living near a station? We begin by examining workers’ commute mode based on their residential and workplace proximity to transit station areas. Next, we analyze the ways in which personal travel behaviors differ between those who drive to work and those who do not. The data came from a 2009 travel behavior survey in the Denver, Colorado metropolitan area, which contains 8000 households, 16,000 individuals, and nearly 80,000 trips. We measure sustainable travel behaviors as reduced mileage, reduced number of trips, and increased use of non-car transportation. The results of this study indicate that living near a transit station area by itself does not increase the likelihood of using non-car modes for work commutes. But if the destination (work) is near a transit station area, persons are less likely to drive a car to work. People who both live and work in a transit station area are less likely to use a car and more likely to take non-car modes for both work and non-work (personal) trips. Especially for persons who work near a transit station area, the measures of personal trips and distances show a higher level of mobility for non-car commuters than car commuters – that is, more trips and more distant trips. The use of non-car modes for personal trips is most likely to occur by non-car commuters, regardless of their transit station area relationship.
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