Public information and IPO underpricing

We analyze the effect of public information on rational investors' incentives to reveal private information during the bookbuilding process and their demand for allocations in the IPO. Our model generates several new predictions. First, investors require more underpricing to truthfully reveal positive private information in bear markets than in bull markets (the incentive effect). Second, the fraction of positive private signals and of underpriced IPOs is increasing in market returns (the demand effect). Combined, these two effects can explain why IPO underpricing is positively related to pre-issue market returns, consistent with extant evidence. Using a sample of 5,000 U.S. IPOs from 1981-2008, we show that the empirical implications of the model are borne out in the data.Public information; partial adjustment; underpricing; IPOs; bookbuilding

On Aharonov-Casher bound states

In this work bound states for the Aharonov-Casher problem are considered. According to Hagen's work on the exact equivalence between spin-1/2 Aharonov-Bohm and Aharonov-Casher effects, is known that the $\boldsymbol{\nabla}\cdot\mathbf{E}$ term cannot be neglected in the Hamiltonian if the spin of particle is considered. This term leads to the existence of a singular potential at the origin. By modeling the problem by boundary conditions at the origin which arises by the self-adjoint extension of the Hamiltonian, we derive for the first time an expression for the bound state energy of the Aharonov-Casher problem. As an application, we consider the Aharonov-Casher plus a two-dimensional harmonic oscillator. We derive the expression for the harmonic oscillator energies and compare it with the expression obtained in the case without singularity. At the end, an approach for determination of the self-adjoint extension parameter is given. In our approach, the parameter is obtained essentially in terms of physics of the problem.Comment: 11 pages, matches published versio

Farm Sprayers for 2,4-D

Want to spray your own weeds? Homemade spray outfits can do the job. Lots of Iowa farmers are using them cheaply and effectively

The Use of Iron in Nutrient Solutions for Plants

Nutrient solutions have been made use of to a considerable extent in endeavoring to determine the specific role of certain nutrients as well as questions of nutrition in general. It is known that iron, although used in small quantities, is essential for chlorophyll production. The present work is a study for the purpose of ascertaining the value of different amounts of iron to an otherwise balanced solution. This feature has suggested itself in that the majority of such solutions do not contain definite amounts of iron, but are simply designated by a “trace.

Comparison of Absorption Occuring in Corn Stalk Tissue and in Prepared Biocolloids

Growth, an important function of the plant, is characterized by being possible under a wide range of temperature, moisture, available plant food, and other limiting factors. It is a hydration of the colloidal material (protoplasm) of the plant to which, later in the life of the plant, matter is added. This added matter, of course, increases the dry weight. Protoplasm has been found to adhere so closely in its actions to the laws of artificially constructed biocolloids that many attempts are being made to construct a biocolloid whose behavior agrees with the observed behavior of protoplasm and in that way to determine more definitely its detailed structure and composition. The present study is an attempt to set forth the rate of hydration in corn stalk tissues and in artificially prepared biocolloids

The Control of Poison Ivy

Poison ivy (Rhus radicans L.) is a woody perennial, reproducing by seeds and creeping root stalks. It is found in rocky fields, pastures, fence rows, on roadsides, railroad embankments, under telephone lines, and in rich alluvial woodlands. Poison ivy is native in Iowa and widespread throughout the United States and Canada. Earliest mention of poison ivy was made by Captain John Smith in 1609. J. P. Cornut described the plant in his work on Canadian plants in 1635. It has been shown that as many as 26 different kinds of birds arc responsible for the wide dissemination of poison ivy

Role of EPAC in cAMP-Mediated Actions in Adrenocortical Cells

Adrenocorticotropic hormone regulates adrenal steroidogenesis mainly via the intracellular signaling molecule cAMP. The effects of cAMP are principally relayed by activating protein kinase A (PKA) and the more recently discovered exchange proteins directly activated by cAMP 1 and 2 (EPAC1 and EPAC2). While the intracellular roles of PKA have been extensively studied in steroidogenic tissues, those of EPACs are only emerging. EPAC1 and EPAC2 are encoded by the genes RAPGEF3 and RAPGEF4, respectively. Whereas EPAC1 is ubiquitously expressed, the expression of EPAC2 is more restricted, and typically found in endocrine tissues. Alternative promoter usage of RAPGEF4 gives rise to three different isoforms of EPAC2 that vary in their N-termini (EPAC2A, EPAC2B, and EPAC2C) and that exhibit distinct expression patterns. EPAC2A is expressed in the brain and pancreas, EPAC2B in steroidogenic cells of the adrenal gland and testis, and EPAC2C has until now only been found in the liver. In this review, we discuss current knowledge on EPAC expression and function with focus on the known roles of EPAC in adrenal gland physiology

The Job Demands?Resources model: Challenges for future research

Motivation: The motivation of this overview is to present the state of the art of Job Demands-Resources (JD-R) model whilst integrating the various contributions to the special issue. Research purpose: To provide an overview of the JD-R model, which incorporates many possible working conditions and focuses on both negative and positive indicators of employee well-being. Moreover, the studies of the special issue were introduced. Research design: Qualitative and quantitative studies on the JD-R model were reviewed to enlighten the health and motivational processes suggested by the model. Main findings: Next to the confirmation of the two suggested processes of the JD-R model, the studies of the special issue showed that the model can be used to predict work-place bullying, incidences of upper respiratory track infection, work-based identity, and early retirement intentions. Moreover, whilst psychological safety climate could be considered as a hypothetical precursor of job demands and resources, compassion satisfaction moderated the health process of the model. Contribution/value-add: The findings of previous studies and the studies of the special issue were integrated in the JD-R model that can be used to predict well-being and performance at work. New avenues for future research were suggested. Practical/managerial implications: The JD-R model is a framework that can be used for organisations to improve employee health and motivation, whilst simultaneousl

Vannstandsendringer i Vågsbøpollen og Ådlandsstraumen som følge av kanalbygging. Målinger og befaringer, juli-oktober 1998

Høsten 1996 ble det åpnet en ny båtkanal mellom Vestrepollen og Vågsbøpollen i Fana. Kanalen har medført økte tidevannsforskjeller og bedre vannutskifting i Vågsbøpollen. Tidligere var Ådlandsstraumen eneste forbindelse mellom Vågsbøpollen og sjøen. På grunn av kanalen er vanngjennomstrømmingen i Ådlandsstraumen blitt mindre, og lavvann-nivået er senket. For å dokumentere eventuelle effekter som følge av kanalen gjennomførte NIVA i samarbeid med UiB et prosjekt sommeren 1998 for å registrere biologiske endringer i strandsonen. I tillegg ble det gjort målinger av vannstand og utført modellsimuleringer. Den biologiske kartleggingen ga ingen entydige verdier for endringer i høyvann- og lavvannsnivå, men indikerer lavvannssenking på 20-30 cm i Vågsbøpollen. Vannstandsmålingene viser en økning av vannstandsamplituden på inntil 50 cm (i det vesentligste lavvanns-senking) og en middel amplitudeendring på 25 cm. I Ådlandsstraumen oppstrøms den nederste innsnevringen er det tale om senking av vann-nivået ved fjære sjø på inntil 29 cm i forhold til tidligere. Dette forekommer kun kortvarig ved spring lavvann. Lavvanns-senking med 25 cm eller mer i dette området skjer i følge beregningene i 1,2% av tiden, tilsvarende mange korte perioder med lavvann med samlet varighet på 8,6 timer i løpet av en måned