Saint Mary's University

About: Saint Mary's University is a education organization based out in Halifax, Nova Scotia, Canada. It is known for research contribution in the topics: Population & Stars. The organization has 1931 authors who have published 4993 publications receiving 143226 citations.

Uranium in Metamorphic Rocks

Abstract: The distribution of U has been studied in two metamorphic rock-series with a gradient of regional metamorphism. One series ranges from the lowest greenschist to amphibolite facies and the other one shows increasing metamorphic grade from amphibolite to granulite facies. Several medium and high pressure granulitic inclusions from alkali basalts were also analyzed. The abundances of U in the rocks do not appear to be affected by metamorphism below the granulite facies grade. Granulites are depleted in U in comparison with equivalent rocks of amphibolite facies grade. There are also differences in their U distribution, as the bulk of U in amphibolite facies rocks is located along the fractures and cleavage planes of ferro-magnesian minerals and in U-rich accessories, while in granulites, most of the U resides in accessory minerals. It seems that the depletion of U in granulites is due to a loss of U which is not located in accessory minerals or in the crystal structure of rock-forming minerals and may also be related to a migration of hydrous fluids, perhaps during dehydration.

The governance role of multiple large shareholders: evidence from the valuation of cash holdings

Abstract: This paper investigates the governance role of multiple large shareholders (MLS, henceforth), as evidenced by their impact on the valuation of cash holdings. For a sample of 2,723 firms from 22 countries, we find that the presence of MLS enhances the valuation of firms’ cash holdings. In particular, we show that the valuation of cash is positively associated with an even distribution of blockholders’ voting rights and with higher contestability of the largest shareholder’s control. We also show that the impact of MLS on the valuation of cash holdings is more pronounced for family-controlled firms, consistent with investors perceiving family owners as associated with greater expropriation risk. Overall, our results contribute to the literature on corporate governance by showing that MLS improve internal monitoring and moderate the agency costs of firms’ cash holdings.