Calibration of a basket option model applied to company valuation

Applying real options thinking to company valuation seems theoretically and intuitively appealing. However, the real option analogy of a single European option as well as the compound option proxy perform poorly when applied to company valuation. We therefore suggest to rework the building blocks of real option applications to corporate valuation.  We introduce a framework to delineate the distribution of the underlying asset in the risk neutral world, which is important in order to value any derivative. This is achieved by an algorithm to calibrate a basket option model using real world data of observed share prices. The fitting takes account of the class of stable distributions. The index of stability of asymmetric α stable distribution serves as an over-all parameter to characterise the specific distribution.     

The experimental structure of199Au and the interacting boson-fermion model

Gamma rays of¹⁹⁹Au obtained after double neutron capture in¹⁹⁷Au were measured at the ILL high flux reactor. A level scheme up to 1770 keV excitation energy is established. The result is compared with IBFM and Boson-Fermion-Symmetry calculations.     

The zeta function of a simplicial complex

Given a simplicial complex δ on vertices {1, …,n} and a fieldF we consider the subvariety of projective (n−1)-space overF consisting of points whose homogeneous coordinates have support in δ. We give a simple rational expression for the zeta function of this singular projective variety overF _q and show a close connection with the Betti numbers of the corresponding variety over ℂ. This connection is particularly simple in the case when Δ is Cohen-Macaulay.     

Polar angle dependence of the longitudinal polarization of quarks produced in e+e−-annihilation

We calculate one-loop radiative QCD corrections to the three polarized and unpolarized structure functions that determine the beam-quark polar angle dependence of the longitudinal polarization of light and heavy quarks produced in e⁺e^?-annihilations. We present analytical and numerical results for the longitudinal polarization and its polar angle dependence. We discuss in some detail the zero-mass limit of our results and the role of the anomalous spin-flip contributions to the polarization observables in the zero-mass limit. Our discussion includes transverse and longitudinal beam polarization effects.     

Exclusive semi-leptonic decays of bottom mesons in the spectator quark model

We calculate the exclusive semileptonic bottom meson decays \(B \to D(D*) + l^ - + \bar v_l \) in the spectator quark model. The helicity structure of the mesonic current transitionsB→D(D ^*) is matched to the helicity structure of the free quark current transitionsb→c at minimum momentum transferq ²=0. The results are continued toq ²≠=0 by pole-dominated form factors. Our results are compared to recent calculations that use quark model dynamics at maximum momentum transferq _max ² = (M ₁ ?M ₂)². We find agreement atq _max ² . Atq ²=0 there are significant differences between the predictions of the two approaches leading to marked differences in the predictions for the shape of the lepton energy spectrum, the shape of theq ²-distribution, and the helicity composition of the transition measurable in the angular distributions of the decaysD ^*→Dπ and \(W_{virtual}^ - \to l^ - + \bar v_l \) .