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Do Horizons Exist?

Gravitational effective action is calculated to second order in transverse momentums for a planar asymptotically anti-de Sitter geometry by gauge fixing method. The first order bulk energy-momentum tensor is calculated. The zeroth order equations of motion are solved and a new black brane-like solution is found. We show that once the contribution of matter quantum modes is taken into account, the horizon of the black brane disappears. This is also correct for BTZ black hole. Our result strengthens the black hole non-existence proposal by Hawking.