A Face Can Launch a Thousand Shares—and an 0.80% Abnormal Return

In this paper we examine the market reaction—price and volume—to the appearance of a firm in the Who’s News column of The Wall Street Journal. We differentiate between those firms whose articles are accompanied by a picture of an executive and a control set of firms whose articles on the same day are not accompanied by a picture. The results show a more pronounced market reaction to the “cum picture” articles, consistent with the incomplete information theory of Merton [1987] and the heuristic-based familiarity hypothesis. There is no evidence of significant long-run abnormal performance for the sample firms

Rapid, Specific Determination of Iodine and Iodide by Combined Solid-Phase Extraction/Diffuse Reflectance Spectroscopy

A new, rapid methodology for trace analysis using solid-phase extraction is described. The two-step methodology is based on the concentration of an analyte onto a membrane disk and on the determination by diffuse reflectance spectroscopy of the amount of analyte extracted on the disk surface. This method, which is adaptable to a wide range of analytes, has been used for monitoring ppm levels of iodine and iodide in spacecraft water. Iodine is used as a biocide in spacecraft water. For these determinations, a water sample is passed through a membrane disk by means of a 10-mL syringe that is attached to a disk holder assembly. The disk, which is a polystyrene−divinylbenzene composite, is impregnated with poly(vinylpyrrolidone) (PVP), which exhaustively concentrates iodine as a yellow iodine−PVP complex. The amount of concentrated iodine is then determined in only 2 s by using a hand-held diffuse reflectance spectrometer by comparing the result with a calibration curve based on the Kubelka−Munk function. The same general procedure can be used to determine iodide levels after its facile and exhaustive oxidation to iodine by peroxymonosulfate (i.e., Oxone reagent). For samples containing both analytes, a two-step procedure can be used in which the iodide concentration is calculated from the difference in iodine levels before and after treatment of the sample with peroxymonosulfate. With this methodology, iodine and iodide levels in the 0.1−5.0 ppm range can be determined with a total workup time of ∼60 s with a RSD of ∼6%

Rapid, Low Level Determination of Silver(I) in Drinking Water by Colorimetric–solid-phase Extraction

A rapid, highly sensitive two-step procedure for the trace analysis of silver(I) is described. The method is based on: (1) the solid-phase extraction (SPE) of silver(I) from a water sample onto a disk impregnated with a silver-selective colorimetric reagent, and (2) the determination of the amount of complexed analyte extracted by the disk by diffuse reflectance spectroscopy (DRS). This method, called colorimetric–solid-phase extraction (C–SPE), was recently shown effective in determining low concentrations (0.1–5.0 mg/ml) of iodine and iodide in drinking water. This report extends C–SPE to the trace (∼4 μg/l) level monitoring of silver(I) which is a biocide used on the International Space Station (ISS). The determination relies on the manually driven passage of a water sample through a polystyrene–divinylbenzene disk that has been impregnated with the colorimetric reagent 5-(p-dimethylaminobenzylidene) rhodanine (DMABR) and with an additive such as a semi-volatile alcohol (1,2-decanediol) or nonionic surfactant (Brij 30). The amount of concentrated silver(I) is then determined in a few seconds by using a hand-held diffuse reflectance spectrometer, with a total sample workup and readout time of ∼60 s. Importantly, the additive induces the uptake of water by the disk, which creates a local environment conducive to silver(I) complexation at an extremely high concentration factor (∼800). There is no detectable reaction between silver(I) and impregnated DMABR in the absence of the additive. This strategy represents an intriguing new dimension for C–SPE in which additives, directly loaded in the disk material, provide a means to manipulate the reactivity of the impregnated reagent

Computational Aeroservoelastic Analysis with an Euler-Based Unsteady Flow Solver

The effectiveness of transpiration for simulation of structural deformations in steady and unsteady aeroelastic applications is examined. The majority of the investigations were performed using a highly integrated, finite-element code for the multidisciplinary analysis of flight vehicles. A supplement to this code, which allows for the generation of deflected meshes using modal superposition, was developed in this study. This research demonstrated that the transpiration boundary condition has strong potential for applications in unsteady aeroelastic analysis, such as in the prediction of flutter boundaries

Aeroservoelastic and Flight Dynamics Analysis Using Computational Fluid Dynamics

This document in large part is based on the Masters Thesis of Cole Stephens. The document encompasses a variety of technical and practical issues involved when using the STARS codes for Aeroservoelastic analysis of vehicles. The document covers in great detail a number of technical issues and step-by-step details involved in the simulation of a system where aerodynamics, structures and controls are tightly coupled. Comparisons are made to a benchmark experimental program conducted at NASA Langley. One of the significant advantages of the methodology detailed is that as a result of the technique used to accelerate the CFD-based simulation, a systems model is produced which is very useful for developing the control law strategy, and subsequent high-speed simulations

Integrating modelling of maintenance policies within a stochastic hybrid automaton framework of dynamic reliability

The dependability assessment is a crucial activity for determining the availability, safety and maintainability of a system and establishing the best mitigation measures to prevent serious flaws and process interruptions. One of the most promising methodologies for the analysis of complex systems is Dynamic Reliability (also known as DPRA) with models that define explicitly the interactions between components and variables. Among the mathematical techniques of DPRA, Stochastic Hybrid Automaton (SHA) has been used to model systems characterized by continuous and discrete variables. Recently, a DPRA-oriented SHA modelling formalism, known as Stochastic Hybrid Fault Tree Automaton (SHyFTA), has been formalized together with a software library (SHyFTOO) that simplifies the resolution of complex models. At the state of the art, SHyFTOO allows analyzing the dependability of multistate repairable systems characterized by a reactive maintenance policy. Exploiting the flexibility of SHyFTA, this paper aims to extend the tools’ functionalities to other well-known maintenance policies. To achieve this goal, the main features of the preventive, risk-based and condition-based maintenance policies will be analyzed and used to design a software model to integrate into the SHyFTOO. Finally, a case study to test and compare the results of the different maintenance policies will be illustrated

Renewable hydrogen supply chains: A planning matrix and an agenda for future research

Worldwide, energy systems are experiencing a transition to more sustainable systems. According to the Hydrogen Roadmap Europe (FCH EU, 2019), hydrogen will play an important role in future energy systems due to its ability to support sustainability goals and will account for approximately 13% of the total energy mix in the coming future. Correct hydrogen supply chain (HSC) planning is therefore vital to enable a sustainable transition, in particular when hydrogen is produced by water electrolysis using electricity from renewable sources (renewable hydrogen). However, due to the operational characteristics of the renewable HSC, its planning is complicated. Renewable hydrogen supply can be diverse: Hydrogen can be produced de-centrally with renewables, such as wind and solar energy, or centrally by using electricity generated from a hydro power plant with a large volume. Similarly, demand for hydrogen can also be diverse, with many new applications, such as fuels for fuel cell electrical vehicles and electricity generation, feedstocks in industrial processes, and heating for buildings. The HSC consists of various stages (production, storage, distribution, and applications) in different forms, with strong interdependencies, which further increase HSC complexity. Finally, planning of an HSC depends on the status of hydrogen adoption and market development, and on how mature technologies are, and both factors are characterised by high uncertainties. Directly adapting the traditional approaches of supply chain (SC) planning for HSCs is insufficient. Therefore, in this study we develop a planning matrix with related planning tasks, leveraging a systematic literature review to cope with the characteristics of HSCs. We focus only on renewable hydrogen due to its relevance to the future low-carbon economy. Furthermore, we outline an agenda for future research, from the supply chain management perspective, in order to support renewable HSC development, considering the different phases of renewable HSCs adoption and market development