Underpricing, Risk Management, Hot Issue and Crowding out Effects: Evidence from the Australian Resources Sector Initital Public Offerings

In this paper, we provide a comprehensive investigation of 260 initial public offerings (IPOs) in the Australian resource sector for the 1994 – 2004 period. Consistent with the existing IPO literature, we document a 16.13% underpricing return by firms in the sample. Despite the contention that risk management can reduce the uncertainty relating to the new issue and hence alleviates the extent of underpricing, we do not find any evidence in support of such contention. In addition to the conventional variables used to explain IPOs underpricing, we further provide evidence that the demand for resources IPOs is not ‘crowded-out’ by the strength of alternative IPO markets. We also show evidence that the issue price adjusts to both market return in preceding months and the average underpricing of resources IPOs in the 12 month period leading to the float which offers an explanation to the hot issue effect observed in the IPO market.initial public offerings, underpricing, risk management, crowding-out effect, hot issue market.

Propagation of QCD Color through Strongly Interacting Systems

The propagation of QCD color through atomic nuclei is studied via a new analysis using a geometric model of semi-inclusive deep inelastic scattering. The experimental data were previously published by the HERMES Collaboration and consisted of the multiplicity ratio observable (2007) and the transverse momentum broadening observable (2010). We perform a simultaneous fit of these two observables to estimate (1) the color lifetime of the quark, (2) quark energy loss, (3) the $\hat{q}$ transport coefficient, and (4) the cross section for hadronic interaction with the medium. We present preliminary results for this fit.Comment: 4 pages, 3 figures; proceedings for the Eighth International Conference on Quarks and Nuclear Physics (QNP2018), Tsukuba, Japan. https://www-conf.kek.jp/qnp2018

Parton Propagation and Fragmentation in QCD Matter

We review recent progress in the study of parton propagation, interaction and fragmentation in both cold and hot strongly interacting matter. Experimental highlights on high-energy hadron production in deep inelastic lepton-nucleus scattering, proton-nucleus and heavy-ion collisions, as well as Drell-Yan processes in hadron-nucleus collisions are presented. The existing theoretical frameworks for describing the in-medium interaction of energetic partons and the space-time evolution of their fragmentation into hadrons are discussed and confronted to experimental data. We conclude with a list of theoretical and experimental open issues, and a brief description of future relevant experiments and facilities.Comment: Invited review paper for "Rivista del Nuovo Cimento". 112 pages, 67 figures, 13 table

A feasibility study towards ultra-thin PV solar cell devices by MOCDV based on a p-i-n structure incorporating pyrite

FeSx layers were deposited onto aluminosilicate glass substrates over a temperature range of 180°C to 500°C using a horizontal AP-MOCVD reactor. Fe(CO)5 was used as the Fe source in combination with t-Bu2S2 or t-BuSH as S precursor to control the rate of reaction and film stoichiometry. The Fe and S partial pressures were kept at 7.5 x 103 and 3.0 mbar, giving a gas phase S/Fe ratio of 400. Reactions followed a non-Arrhenius relationship at higher temperatures. XRD revealed mixed FeSx phases in the layers, which consisted mainly of FeS and Fe1-xS. Post growth annealing of the FeSx films using S powder in a static argon atmosphere and temperatures ranging from 250°C to 400°C was carried out using a 30 minute soak time. Characterisation by XRD confirmed a transitional phase change to FeS2 for the S anneal at 400°C. These films were highly absorbing in the visible region of the solar spectrum, which extended into the NIR. Devices with a p-i-n structure were produced using either a sulphurised or non-sulphurised FeSx i-layer, and compared to p-n devices without an i-layer. A non-sulphurised p-i-n device had the best I-V results, which was attributed to reduced lateral inhomogeneity across the device relative to the thinner p-n device structures. Devices with sulphurised FeSx i-layers performed least efficiently which is suspected to be due to a less defined FeSx/CdS junction caused by severe conditions during the S annealing process