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We report on the development of a flexible 2D optical fiber-based pressure sensing surface suitable for biomedical applications. The sensor comprises of highly-sensitive Fiber Bragg Grating elements embedded in a thin polymer sheet to form a 2x2 cm(2) sensing pad with a minimal thickness of 2.5mm, while it is easily expandable in order to be used as a building block for larger surface sensors. The fabricated pad sensor was combined with a low physical dimension commercially available interrogation unit to enhance the portability features of the complete sensing system. Sensor mechanical properties allow for matching human skin behavior, while its operational performance exhibited a maximum fractional pressure sensitivity of 12 MPa(-1) with a spatial resolution of 1x1cm(2) and demonstrated no hysteresis and real time operation. These attractive operational and mechanical properties meet the requirements of various biomedical applications with respect to human skin pressure measurements, including amputee sockets, shoe sensors, wearable sensors, wheelchair seating-system sensors, hospital-bed monitoring sensors.

This study analyzes the relationship between corporate liquidity (i.e. the fraction of assets invested in cash and marketable securities) and managerial ownership in the firm's stock. We postulate a negative relationship between excess liquidity and managerial stock ownership as the managers' interests shift from protecting the value of their human capital to maximizing the value of their stockholdings. This managerial behavior is constrained by the disciplining forces of the firm's product market structure and the market for corporate control. While the tests fail to reveal any significant impact of managerial stock ownership, they show that firm liquidity is positively related to the firm's ability to earn economic rents.

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This study examines the market reaction to listing on the New York Stock Exchange (NYSE). The marketability gains hypothesis states that investors expect liquidity gains for the less liquid over-the-counter (OTC) stocks but not for their liquid counterparts after their listing on the NYSE. The hypothesis is supported even after accounting for other firm-specific news releases. Stocks with low liquidity on the OTC exhibit a positive reaction, whereas stocks with high liquidity show a non-positive market reaction around the announcement of the listing application. The findings imply that the two different marketplaces, NYSE and OTC, are suitable for stocks with different liquidity characteristics.

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