Mitsubishi

About: Mitsubishi is a company organization based out in Tokyo, Japan. It is known for research contribution in the topics: Layer (electronics) & Signal. The organization has 53115 authors who have published 54821 publications receiving 870150 citations. The organization is also known as: Mitsubishi Group of Companies & Mitsubishi Companies.

Explaining the Rate Spread on Corporate Bonds

Abstract: The purpose of this article is to explain the spread between spot rates on corporate and government bonds. We find that the spread can be explained in terms of three elements: (1) compensation for expected default of corporate bonds (2) compensation for state taxes since holders of corporate bonds pay state taxes while holders of government bonds do not, and (3) compensation for the additional systematic risk in corporate bond returns relative to government bond returns. The systematic nature of corporate bond return is shown by relating that part of the spread which is not due to expected default or taxes to a set of variables which have been shown to effect risk premiums in stock markets Empirical estimates of the size of each of these three components are provided in the paper. We stress the tax effects because it has been ignored in all previous studies of corporate bonds.

Agent-based software engineering

Abstract: The technology of intelligent agents and multi-agent systems is expected to alter radically the way in which complex, distributed, open systems are conceptualised and implemented. The paper considers the problem of building a multi-agent system as a software engineering enterprise. Three issues are focused on: how agents might be specified; how these specifications might be refined or otherwise transformed into efficient implementations: and how implemented agents and multi-agent systems might subsequently be verified, to show that they are correct with respect to their specifications. These issues are discussed with reference to a number of case studies. The paper concludes by setting out some issues and open problems for future research.

High Efficiency of Dye-Sensitized Solar Cells Based on Metal-Free Indoline Dyes

Abstract: We now report metal-free organic dyes having a new type of indoline structure, which exhibits high efficiencies in dye-sensitized solar cells. The solar energy to current conversion efficiencies with the new indoline dye was 6.51%. Under the same conditions, the N3 dye was 7.89% and the N719 dye was 8.26%. The new indoline dye was optimized for the amount of 4-tert-butyl pyridine in the electrolyte and cholic acid as a coadsorbent. Subsequently, the solar energy to current conversion efficiencies reached 8.00%. This value was the highest obtained efficiency for dye-sensitized solar cells based on metal-free organic dyes without an antireflection layer.