Constraints on the Spin Evolution of Young Planetary-Mass Companions

Surveys of young star-forming regions have discovered a growing population of planetary-mass (<13 M_Jup) companions around young stars. There is an ongoing debate as to whether these companions formed like planets (that is, from the circumstellar disk), or if they represent the low-mass tail of the star formation process. In this study we utilize high-resolution spectroscopy to measure rotation rates of three young (2-300 Myr) planetary-mass companions and combine these measurements with published rotation rates for two additional companions to provide a look at the spin distribution of these objects. We compare this distribution to complementary rotation rate measurements for six brown dwarfs with masses <20 M_Jup, and show that these distributions are indistinguishable. This suggests that either that these two populations formed via the same mechanism, or that processes regulating rotation rates are independent of formation mechanism. We find that rotation rates for both populations are well below their break-up velocities and do not evolve significantly during the first few hundred million years after the end of accretion. This suggests that rotation rates are set during late stages of accretion, possibly by interactions with a circumplanetary disk. This result has important implications for our understanding of the processes regulating the angular momentum evolution of young planetary-mass objects, and of the physics of gas accretion and disk coupling in the planetary-mass regime.Comment: 31 pages, 10 figures, published in Nature Astronomy, DOI:10.1038/s41550-017-0325-

Flexibility in cash-flow classification under IFRS: determinants and consequences

International Financial Reporting Standards (IFRS) allow managers flexibility in classifying interest paid, interest received, and dividends received within operating, investing, or financing activities within the statement of cash flows. In contrast, U.S. Generally Accepted Accounting Principles (GAAP) requires these items to be classified as operating cash flows (OCF). Studying IFRSreporting firms in 13 European countries, we document firms’ cash-flow classification choices vary, with about 76%, 60%, and 57% of our sample classifying interest paid, interest received, and dividends received, respectively, in OCF. Reported OCF under IFRS tends to exceed what would be reported under U.S. GAAP. We find the main determinants of OCF-enhancing classification choices are capital market incentives and other firm characteristics, including greater likelihood of financial distress, higher leverage, and accessing equity markets more frequently. In analyzing the consequences of reporting flexibility, we find some evidence that the market’s assessment of the persistence of operating cash flows and accruals varies with the firm’s classification choices, and the results of certain OCF prediction models are sensitive to classification choices

FLUORESCENCE AND CIRCULAR DICHROISM STUDIES ON THE PHYCOERYTHROCYANINS FROM THE CYANOBACTERIUM

Two phycoerythrocyanin (PEC) fractions have been obtained from the phycobilisomes of the cyanobac-terium Westiellopsis prolifica ARM 365. They have been characterized by absorption, fluorescence and circular dichroism spectroscopy. One of them is spectroscopically similar to a PEC trimer known from other organisms. Whereas efficient energy transfer from its violin (α-84) to the cyanin (β-84, 155) chromophores is efficient in the trimer (αβ it is impeded after dissociation to the monomer (α,β). A second fraction of PEC which we earlier termed PEC(X) (Maruthi Sai et al., Photochem. Photobiol. 55,119–124, 1992), exhibited the spectral properties similar to that of the α-subunit of PEC from Mastigocladus laminosus. With this highly photoactive fraction, the circular dichroism spectra of the violobilin chromophore in both photoreversible states were obtained

Earnings quality: evidence from Canadian firms’ choice between IFRS and U.S. GAAP

For fiscal years starting on or after January 1, 2011, Canada abandoned Canadian Generally Accepted Accounting Principles (GAAP) and adopted International Financial Reporting Standards (IFRS), but permitted firms cross-listed in the U.S. to adopt U.S. GAAP instead. We document that the number of Canadian firms reporting under U.S. GAAP increased after Canada adopted IFRS. We find that cross-listed firms are more likely to choose IFRS if IFRS is the standard most commonly used by the leading global firms in their industry. In addition, we find that firms more likely to choose IFRS are larger, of civil law legal origin, have less U.S. operations, report exploration expense, have fewer U.S. shareholders and report higher stockholders’ equity under Canadian GAAP than under U.S. GAAP. Of these, we find that the convergence benefits of comparability with industry peers is the most significant determinant in firms’ choice of standard. Further, we are unable to document changes in earnings quality from cross-listed firms adopting IFRS or U.S. GAAP or that earnings quality changed for firms adopting IFRS relative to firms adopting U.S. GAAP

Numerical studies of the Lagrangian approach for reconstruction of the conductivity in a waveguide

We consider an inverse problem of reconstructing the conductivity function in a hyperbolic equation using single space-time domain noisy observations of the solution on the backscattering boundary of the computational domain. We formulate our inverse problem as an optimization problem and use Lagrangian approach to minimize the corresponding Tikhonov functional. We present a theorem of a local strong convexity of our functional and derive error estimates between computed and regularized as well as exact solutions of this functional, correspondingly. In numerical simulations we apply domain decomposition finite element-finite difference method for minimization of the Lagrangian. Our computational study shows efficiency of the proposed method in the reconstruction of the conductivity function in three dimensions

PHOTOCHEMISTRY OF PHYCOBILIPROTEINS

Native PEC from the cyanobacterium, Mastigocladus laminosus, and its isolated α-subunit show photoreversibly photochromic reactions with difference-maxima around 502 and 570 nm in the spectral region of the α-84 phycoviolobilin chromophore. (b) Native PEC and its β-subunit show little if any reversible photochemistry in the 600–620 nm region, where the phycocyanobilin chromophores on the β-subunit absorb maximally, (c) Reversible photochemistry is retained in ureadenatured PEC at pH = 7.0 or pH ≤ 3. The difference maxima are shifted to 510 and 600 nm, and the amplitudes are decreased. An irreversible absorbance increase occurs around 670 nm (pH ≤ 3). (d) The amplitude of the reversible photoreaction difference spectrum is maximum in the presence of 4–5 M urea or 1 M KSCN, conditions known to dissociate phycobiliprotein aggregates into monomers. At the same time, the phycocyanobilin chromophore(s) are bleached irreversibly, (e) The amplitude becomes very small in high aggregates, e.g. in phycobilisomes. (f) In a reciprocal manner, the phototransformation of native PEC leads to a reversible shift of its aggregation equilibrium between trimer and monomer. The latter is favored by orange, the former by green light, (g) It is concluded that the phycoviolobilin chromophore of PEC is responsible for reversible photochemistry in PEC, and that there is not only an influence of aggregation state on photochemistry, but also vice versa an effect of the status of the chromophore on aggregation state. This could constitute a primary signal in the putative function as sensory pigment, either directly, or indirectly via the release of other polypeptides, via photodynamic effects, or the like

Evidence for the Direct Detection of the Thermal Spectrum of the Non-Transiting Hot Gas Giant HD 88133 b

We target the thermal emission spectrum of the non-transiting gas giant HD 88133 b with high-resolution near-infrared spectroscopy, by treating the planet and its host star as a spectroscopic binary. For sufficiently deep summed flux observations of the star and planet across multiple epochs, it is possible to resolve the signal of the hot gas giant's atmosphere compared to the brighter stellar spectrum, at a level consistent with the aggregate shot noise of the full data set. To do this, we first perform a principal component analysis to remove the contribution of the Earth's atmosphere to the observed spectra. Then, we use a cross-correlation analysis to tease out the spectra of the host star and HD 88133 b to determine its orbit and identify key sources of atmospheric opacity. In total, six epochs of Keck NIRSPEC L band observations and three epochs of Keck NIRSPEC K band observations of the HD 88133 system were obtained. Based on an analysis of the maximum likelihood curves calculated from the multi-epoch cross correlation of the full data set with two atmospheric models, we report the direct detection of the emission spectrum of the non-transiting exoplanet HD 88133 b and measure a radial projection of the Keplerian orbital velocity of 40 $\pm$ 15 km/s, a true mass of 1.02$^{+0.61}_{-0.28}M_J$, a nearly face-on orbital inclination of 15${^{+6}_{-5}}^{\circ}$, and an atmosphere opacity structure at high dispersion dominated by water vapor. This, combined with eleven years of radial velocity measurements of the system, provides the most up-to-date ephemeris for HD 88133.Comment: 9 pages, 6 figures; accepted for publication in Ap

TWO DIFFERENT TYPES OF PHOTOCHEMISTRY IN PHYCOERYTHROCYANIN α-SUBUNIT

The photochemical activities of phycoerythrocyanin α-subunits from Mastigocladus laminosus separated by isoelectric focusing were tested by irradiating at 500, 550, 577 and 600 nm. Two types of photoreversible photochromic responses have been characterized by absorption and absorption difference spectroscopy. Type I is the well-known absorption shift from 571 to 506 nm. Type II is a new response characterized by a line-broadening of the 570 nm absorption

IMI – industry guidelines and ethical considerations for myopia control report

PURPOSE. To discuss guidelines and ethical considerations associated with the development and prescription of treatments intended for myopia control (MC). METHODS. Critical review of published papers and guidance documents was undertaken, with a view to carefully considering the ethical standards associated with the investigation, development, registration, marketing, prescription, and use of MC treatments. RESULTS. The roles and responsibilities of regulatory bodies, manufacturers, academics, eye care practitioners, and patients in the use of MC treatments are explored. Particular attention is given to the ethical considerations for deciding whether to implement a MC strategy and how to implement this within a clinical trial or practice setting. Finally, the responsibilities in marketing, support, and education required to transfer required knowledge and skills to eye care practitioners and academics are discussed. CONCLUSIONS. Undertaking MC treatment in minors creates an ethical challenge for a wide variety of stakeholders. Regulatory bodies, manufacturers, academics, and clinicians all share an ethical responsibility to ensure that the products used for MC are safe and efficacious and that patients understand the benefits and potential risks of such products. This International Myopia Institute report highlights these ethical challenges and provides stakeholders with recommendations and guidelines in the development, financial support, prescribing, and advertising of such treatments.</p

Aerosol Absorption: Progress Towards Global and Regional Constraints

Some aerosols absorb solar radiation, altering cloud properties, atmospheric stability and circulation dynamics, and the water cycle. Here we review recent progress towards global and regional constraints on aerosol absorption from observations and modeling, considering physical properties and combined approaches crucial for understanding the total (natural and anthropogenic) influences of aerosols on the climate. We emphasize developments in black carbon absorption alteration due to coating and ageing, brown carbon characterization, dust composition, absorbing aerosol above cloud, source modeling and size distributions, and validation of high-resolution modeling against a range of observations. Both observations and modeling of total aerosol absorption, absorbing aerosol optical depths and single scattering albedo, as well as the vertical distribution of atmospheric absorption, still suffer from uncertainties and unknowns significant for climate applications. We offer a roadmap of developments needed to bring the field substantially forward