On Modelling the Persistence of Profits in the Long Run: An Analysis of 156 US Companies, 1950-1999

Long run persistence in company profits is analyzed for 156 US companies over a fifty-year period using AR1 and structural time series tests. A statistically significant degree of consitstency is found between them in identifying firms persistently above or below the competitive norm. However, the structural time series method detects a higher overall incidence of persistence, with nearly 70% of firms classed as not having converged on Zero, compared with 46% under AR1 estimation. The recently proposed structural approach is seen as a useful additional tool in analysing earnings dynamics, in particular where are complex trends and other dynamic complexities.

Spectroscopy Of Hydrogen-bonded Formanilide Clusters In A Supersonic Jet: Solvation Of A Model Trans Amide

The gas-phase structures of trans-formanilide (FA) clusters containing varying numbers of water and ammonia molecules have been investigated by resonant two-photon ionization spectroscopy in a supersonic jet expansion. A single structure is found for the 1:1 cluster of FA with ammonia in which the amide NH group functions as a hydrogen bond donor to the ammonia nitrogen. In contrast, vibronically resolved spectra reveal two distinct structures for the 1:1 cluster with water in which either the amide NH group functions as a hydrogen bond donor or the carbonyl oxygen functions as a hydrogen bond acceptor. The 1:1 clusters with both ammonia and water exhibit characteristic spectral shifts that depend on which amide site participates in the hydrogen bond. Three distinct types of 1:2 clusters with water have been found. Two of these can be viewed as water dimers interacting through a single hydrogen bond with either the amide NH group or the carbonyl oxygen. The third structure involves a hydrogen bond at each amide site to a separate water molecule. Ternary FA clusters containing one ammonia and one water molecule have also been investigated and found to be present in two distinct structural forms. Although each structure contains a hydrogen bond between the amide NH and one of the solvents, the structures differ with regard to which solvent serves as the acceptor of this hydrogen bond as well as in the role of the second solvent. Finally, clusters containing four water molecules have been identified, although in this case only a single cluster structure has been observed. This species is assigned to a structure containing a hydrogen-bonded chain of four water molecules forming a bridge between the NH and carbonyl oxygen binding sites on opposite sides of the trans amide. These experimental observations and structural assignment are supported by ab initio Hartree-Fock calculations

Electronic Spectroscopy of Jet-Cooled Benzylidenecyclobutane, a Sterically Hindered Styrene

The electronic spectrum of the styrene derivative, benzylidenecyclobutane, seeded in a supersonic jet expansion has been recorded using resonantly enhanced two-photon ionization spectroscopy. The main vibronic features in the spectrum are associated with a low frequency progression assigned to the torsional motion of the phenyl ring. Analysis of the observed torsional levels reveals an excited state potential energy surface characteristic of a planar equilibrium geometry which undergoes large amplitude motion and a ground state surface having a minimum at a torsional angle of 25° between the phenyl and vinyl groups. Ab initio calculations of the ground state torsional potential surface predict a minimum in the range of 28°-26°, depending on the size of the basis set. In these structures the cyclobutane ring adopts a puckering angle between 17° and 19°. Deuterated isotopomers have also been synthesized and their corresponding photoionization spectra analyzed to reveal the mixing between the torsion and other low frequency modes such as cyclobutane ring puckering. The extent of this mixing is found to be sensitive to the sites of deuteration on the molecule. © 1996 American Institute of Physics

Electronic Spectroscopy of Jet-Cooled Benzylidenecyclobutane, a Sterically Hindered Styrene

The electronic spectrum of the styrene derivative, benzylidenecyclobutane, seeded in a supersonic jet expansion has been recorded using resonantly enhanced two-photon ionization spectroscopy. The main vibronic features in the spectrum are associated with a low frequency progression assigned to the torsional motion of the phenyl ring. Analysis of the observed torsional levels reveals an excited state potential energy surface characteristic of a planar equilibrium geometry which undergoes large amplitude motion and a ground state surface having a minimum at a torsional angle of 25° between the phenyl and vinyl groups. Ab initio calculations of the ground state torsional potential surface predict a minimum in the range of 28°-26°, depending on the size of the basis set. In these structures the cyclobutane ring adopts a puckering angle between 17° and 19°. Deuterated isotopomers have also been synthesized and their corresponding photoionization spectra analyzed to reveal the mixing between the torsion and other low frequency modes such as cyclobutane ring puckering. The extent of this mixing is found to be sensitive to the sites of deuteration on the molecule. © 1996 American Institute of Physics

Conformations And Relative Stabilities Of The Cis And Trans Isomers In A Series Of Isolated N-phenylamides

The gas-phase conformations of a series of isolated N-phenylamides have been determined from vibrationally resolved electronic spectra obtained by resonant two-photon ionization in a supersonic jet expansion. Both the cis and trans isomers of formanilide were identified, with the cis isomer in 6.5% abundance. The spectral features displayed by this isomer are consistent with a nonplanar geometry which undergoes a large change in the phenyl torsional angle following electronic excitation. The more abundant trans isomer of formanilide adopts a planar structure and is stabilized by 2.5 kcal/mol with respect to the cis isomer. In the excited electronic state the relative stabilities of the two isomers are reversed. Acetanilide, in contrast, is found exclusively as the trans isomer, also having a planar structure. N-Methyl substitution causes a reversal of the relative isomer stabilities found in formanilide and leads to an isomer distribution consisting of approximately 90% E and 10% Z in N-methylformanilide. These experimental observations are compared to previous condensed phase structural determinations as well as to the relative energies and structures predicted from ab initio Hartree-Fock geometry optimizations

Substituent Effects on the Electronic Spectroscopy of Tryptophan Derivatives in Jet Expansions

Electronic excitation spectra of seven tryptophan derivatives entrained in a supersonic expansion have been recorded using both resonantly enhanced two-photon ionization and laser induced fluorescence. Two derivatives, tryptophan amide and tryptophan methyl amide, were found to have substantial low frequency vibrational progressions in their excitation spectra, yet in both compounds this behavior was apparent in only one conformer. Other derivatives did not display as much vibronic activity. Conformers which had vibrational progressions were found to emit in a broad band far to the red of excitation. All other conformers were found to fluoresce most strongly in resonance with excitation. The presence of low frequency vibrational activity and red shifted fluorescence correlates well with the ability of the derivative to form an intramolecular hydrogen bond between the amine and the carboxylic acid. Backbone conformers that contain an intramolecular hydrogen bond are expected to have large dipole moments, which may strongly perturb the electronic structure of the indole chromophore. © 1990 American Institute of Physics

Green Photoluminescence From Platinum(ii) Complexes Bearing Silylacetylide Ligands

The synthesis, structural characterization, photoluminescence properties, and density functional theory analysis of three Pt(II) diimine complexes, Pt(dbbpy)(CdropCR)(2) [dbbpy = 4,4\u27-di(tert-butyl-2,2\u27-bipyridine; R = -SiMe3, -CdropC-SiMe3, or -t-Bu], are presented. The Pt(dbbpy)(CdropC-tBu)(2) complex serves as a carbon-based ligand structure for which the photophysical properties of the two silicon-bearing complexes are compared in dichloromethane. Pt(dbbpy)(CdropC-SiMe3)(2) and Pt(dbbpy)(CdropC-CdropC-SiMe3)(2) display visible absorptions with strong green emission (lambda(emmax) = 526 and 524 nm, respectively) while Pt(dbbpy)(CdropCt-Bu)(2) displays efficient, long-lived yellow emission (lambda(emmax) = 557 nm). Direct side by side comparisons of Pt(dbbpy)(CdropC-SiMe3)(2) and Pt(dbbpy)(CdropC-t-Bu)(2) suggest that the difference in excited state energy results from the relative sigma-donor strength of the acetylide ligands

Platinum(ii) Diimine Diacetylides: Metallacyclization Enhances Photophysical Properties

The synthesis, structural characterization, and photoluminescence properties of a new platinum(II) diimine complex bearing the bidentate diacetylide ligand tolan- 2,2\u27-diacetylide (tda), Pt(dbbpy)( tda) [dbbpy) = 4,4\u27-di-tert-butyl-2,2\u27-bipyridine], are described. In CH2Cl2, Pt( dbbpy)( tda) exhibits a strong visible charge-transfer absorption and broad emission centered at 562 nm. The photoluminescence quantum yield and excited-state lifetime are 0.52 and 2.56 mu s, respectively, at room temperature. These parameters indicate that the planarization and rigidity introduced by the cyclic diacetylide leads to a lower-energy-absorbing species displaying enhanced photophysics relative to the analogous Pt( dbbpy)( C = CPh)(2). Time-dependent density functional theory calculations, which include solvation by CH2Cl2 via the polarizable continuum model, are used to reveal the nature of the excited states in these molecules that are responsible for the charge-transfer transitions. The 77 K emission spectra of the two compounds in EtOH/MeOH glasses are compared, uncovering tda-based ligand-localized phosphorescence in the title compound

Infrared Spectroscopy of H-Bonded Bridges Stretched across the cis-Amide Group: II. Ammonia and Mixed Ammonia/Water Bridges

Clusters of two model cis amides, oxindole and 3,4-dihydro-2(IH)-quinolinone, containing one and two ammonia molecules have been studied in the IR hydride stretch region using resonant ion-dip IR spectroscopy. The spectra confirm that ammonia is able to form hydrogen-bonded bridges across the adjacent amide N-H and C=O sites in a manner very similar to that of water. Such bridged structures require that ammonia assume the role of a hydrogen bond donor. Further similarities of the hydrogen bonding capabilities of ammonia and water have been revealed by investigations of ternary clusters containing an amide, one ammonia, and one water molecule. Experimentally, two species are observed having IR spectra consistent with a hydrogen-bonded bridge structure. The two species differ only in the relative positions of the ammonia and water molecules within the bridge. These experimental results are well supported by optimized structures, vibrational frequencies, and IR intensities calculated using density functional theory with the Becke3LYP functional. Additionally, the characteristic features of the hydride stretch fundamentals in a hydrogen-bond-donating ammonia molecule can be readily understood using a simple model for the coupled NH oscillators in which the hydrogen-bonded NH has its force constant lowered and its dipole derivative increased, much like in other hydrogen-bonded XH groups

Infrared Spectroscopy Of H-bonded Bridges Stretched Across The Cis-amide Group: I. Water Bridges

The water-containing clusters of oxindole (OI) and 3,4-dihydro-2(1H)-quinolinone (DQ) have been studied in the hydride stretch region of the infrared by the technique of resonant ion-dip infrared spectroscopy (RIDIRS). Both OI and DQ are constrained cis-amides with adjacent N-H and C=O groups between which water can form H-bonded bridges. The hydride stretch fundamentals of OI-W-n with n = 1-3 and DQ-W-n with n = 1, 2 without exception divide up into free OH stretch fundamentals near 3700 cm(-1) and a set of H-bonded bridge fundamentals in the 3200-3450 cm(-1) region. The bridge fundamentals show a distribution of intensities that reflects strong coupling among the XH oscillators in the bridge. When more than one water is involved in the bridge, the bridge fundamentals are unusually broad, with widths of 50-80 cm(-1) full width at half-maximum. Minimum-energy structures, binding energies, vibrational frequencies, and infrared intensities have been calculated by density functional theory with a Becke3LYP functional and a 6-31+G* basis set. The calculated infrared spectra match experiment well, confirming the bridge structures for the clusters. The form of the calculated normal modes provides insight into the nature of the bridge fundamentals