Outperforming markets: IC and the long-term performance of Japanese IPOs

This article studies the effects of disclosure practices of Japanese IPO prospectuses on long-term stock performance and bid–ask spread, as a proxy for cost of capital, after a company is admitted to the stock exchange. A disclosure index methodology is applied to 120 IPO prospectuses from 2003. Intellectual capital information leads to significantly better long-term performance against a reference portfolio, and is thus important to the capital market. Further, superior disclosure of IC reduces bid–ask spread in the long-term, indicating that such disclosures are important in an IPO setting. Analysts and investors can attain higher long-term returns by understanding IC

Do fishing education programs effectively transfer 'catch-and-release' best practices to youth anglers yielding measurable improvements in fish condition and survival?

There is growing interest in educating anglers on catch-and-release (C&R) best practices, yet there is little information on whether angler education programs yield measurable improvements in fish condition and survival. As such, we conducted a study focused on mixed-gender youth groups (aged 8-10) and contrasted three levels of training intervention. Treatment 1 training had no mention of C&R best practices. Treatments 2 and 3 trainings involved visual aids to illustrate best practices, while Treatment 3 added a hands-on demonstration. When caught by the most highly trained participants, fish experienced the least amount of air exposure, but were handled for longer periods, as trained anglers were more careful. Higher levels of training led to a higher likelihood that anglers wet their hands and used a bucket filled with water while handling fish but all treatment groups yielded similar incidences of deep hooking and bleeding. Overall, mortality (initial and after ∼12 h) was low across all treatments. Our findings suggest that a short (∼20 min) fishing workshop can transfer information on C&R practices, at least in the short-term, that can lead to some improved conditions for angler-caught fish. It is unclear the extent to which this information is retained in the long-term or how different target populations or training strategies might influence knowledge transfer and adoption and thus biological outcomes. With growing interest in sharing C&R best practices with anglers, we suggest that there is need for additional research on outreach strategies to ensure that such efforts are effective and yield meaningful benefits to fish welfare and conservation

Searching for a Cosmological Preferred Axis: Union2 Data Analysis and Comparison with Other Probes

We review, compare and extend recent studies searching for evidence for a preferred cosmological axis. We start from the Union2 SnIa dataset and use the hemisphere comparison method to search for a preferred axis in the data. We find that the hemisphere of maximum accelerating expansion rate is in the direction $(l,b)=({309^\circ}^{+23^\circ}_{-3^\circ}, {18^\circ}^{+11^\circ}_{-10^\circ})$ (\omm=0.19) while the hemisphere of minimum acceleration is in the opposite direction $(l,b)=({129^\circ}^{+23^\circ}_{-3^\circ},{-18^\circ}^{+10^\circ}_{-11^\circ})$ (\omm=0.30). The level of anisotropy is described by the normalized difference of the best fit values of \omm between the two hemispheres in the context of \lcdm fits. We find a maximum anisotropy level in the Union2 data of \frac{\Delta \ommax}{\bomm}=0.43\pm 0.06. Such a level does not necessarily correspond to statistically significant anisotropy because it is reproduced by about $30$ of simulated isotropic data mimicking the best fit Union2 dataset. However, when combined with the axes directions of other cosmological observations (bulk velocity flow axis, three axes of CMB low multipole moments and quasar optical polarization alignment axis), the statistical evidence for a cosmological anisotropy increases dramatically. We estimate the probability that the above independent six axes directions would be so close in the sky to be less than $1$. Thus either the relative coincidence of these six axes is a very large statistical fluctuation or there is an underlying physical or systematic reason that leads to their correlation.Comment: 10 pages, 7 figures. Accepted in JCAP (to appear). Extended analysis with redshift tomography of SnIa, included errorbars and increased number of axes. The Mathematica 7 files with the data used for the production of the figures along with a Powerpoint file with additional figures may be downloaded from http://leandros.physics.uoi.gr/anisotrop

Key questions in marine mammal bioenergetics

Bioenergetic approaches are increasingly used to understand how marine mammal populations could be affected by a changing and disturbed aquatic environment. There remain considerable gaps in our knowledge of marine mammal bioenergetics, which hinder the application of bioenergetic studies to inform policy decisions. We conducted a priority-setting exercise to identify high-priority unanswered questions in marine mammal bioenergetics, with an emphasis on questions relevant to conservation and management. Electronic communication and a virtual workshop were used to solicit and collate potential research questions from the marine mammal bioenergetic community. From a final list of 39 questions, 11 were identified as ‘key’ questions because they received votes from at least 50% of survey participants. Key questions included those related to energy intake (prey landscapes, exposure to human activities) and expenditure (field metabolic rate, exposure to human activities, lactation, time-activity budgets), energy allocation priorities, metrics of body condition and relationships with survival and reproductive success and extrapolation of data from one species to another. Existing tools to address key questions include labelled water, animal-borne sensors, mark-resight data from long-term research programs, environmental DNA and unmanned vehicles. Further validation of existing approaches and development of new methodologies are needed to comprehensively address some key questions, particularly for cetaceans. The identification of these key questions can provide a guiding framework to set research priorities, which ultimately may yield more accurate information to inform policies and better conserve marine mammal populations

Geochemistry of Vein Calcites Hosted in the Troodos Pillow Lavas and Their Implications for the Timing and Physicochemical Environment of Fracturing, Fluid Circulation, and Vein Mineral Growth

Calcite veins hosted in pillow lavas of the Late Cretaceous Troodos suprasubduction zone ophiolite provide insights into the timing and physicochemical environment of postmagmatic fracturing and fluid circulation through oceanic crust. This study presents rare earth element and yttrium (REE+Y) concentrations, δ13C, δ18O, 87Sr/86Sr, and clumped isotopic (Δ47) compositions of vein calcites in order to investigate their fluid sources, formation temperatures, and precipitation ages. These geochemical data are combined with microtextural analyses. Intersections of 87Sr/86Sr ratios of vein calcites with the Sr isotope seawater curve suggest two distinct calcite veining phases. Major calcite veining within an interval of ~10 Myr after crust formation is characterized by microtextures that point to extensional fracturing related to crack and sealing, host rock brecciation, and advective fluid flow. These vein calcites show REE+Y characteristics, 87Sr/86Sr ratios, and clumped isotopic compositions indicative of precipitation from seawater at <50 °C. Extended fluid residence times intensified fluid‐rock interactions and lowered Y/Ho ratios of some blocky vein calcites, whereas crack and sealing resulted in pristine seawater signatures. Low 87Sr/86Sr ratios of localized high‐temperature blocky vein calcites point to the involvement of hydrothermal fluids. These calcites show Mn‐controlled oscillatory growth zonations that probably developed in a closed system out of equilibrium. Later calcite veining (<75 Ma) may have coincided with rotation and/or uplift of the Troodos ophiolite. Microtextures of these vein calcites indicate fluid diffusion and fracture‐independent crystallization pressure‐driven veining. Their variably modified seawater signatures resulted from diffusion‐related fluid interaction with hydrothermal sediments

Search for direct production of charginos and neutralinos in events with three leptons and missing transverse momentum in √s = 7 TeV pp collisions with the ATLAS detector

A search for the direct production of charginos and neutralinos in final states with three electrons or muons and missing transverse momentum is presented. The analysis is based on 4.7 fb−1 of proton–proton collision data delivered by the Large Hadron Collider and recorded with the ATLAS detector. Observations are consistent with Standard Model expectations in three signal regions that are either depleted or enriched in Z-boson decays. Upper limits at 95% confidence level are set in R-parity conserving phenomenological minimal supersymmetric models and in simplified models, significantly extending previous results

Aproveitamento de um fosfato natural parcialmente solubilizado pelas culturas do arroz, milho e soja: I. Resultados preliminares

Em solos pouco ácidos, pobres em P disponível, dois dos quais anteriormente com vegetação de cerrado, foram conduzidos ensaios destinados a comparar a eficiência de um fosfato natural parcialmente acidulado com ácido sulfúrico (FAPS) com a do super simples (SS) e a do fosfato de Araxá original. Usaram-se as culturas de arroz de sequeiro, milho e soja. Verificou-se que: (1) o FAPS deu produções que não diferiram estatísticamente das obtidas com o SS sendo maiores que as conseguidas com o FA; (2) os resultados das análises de solos e da diagnose foliar indicam que o FAPS funcionou como fonte de P, Ca e S.In slightly acidic soils the effect of two rates of PARP (60 and 120 kg P2O5 per hectare) was compared to that of single superphosphate and of the original ground Araxá rock phosphate (ARP), both supplied to give 90 kg P2O5/ha. Testcrops were: upland rice, corn and soybeans. Main conclusions, based on yield data, and soil and leaf analyses were the following: (1) there was no statistical diferrence between yields obtained with PARP and SS which, however, were ussuallu higher than those provided for by ARP; (2) results from chemical analyses show that the PARP, as well as the SS, were a source of P, Ca and S to the three crops; (3) under the experimental conditions, there fore, the effect of the PARP was close to that of the SS rather than to the effect due to the ARP

Jet size dependence of single jet suppression in lead-lead collisions at sqrt(s(NN)) = 2.76 TeV with the ATLAS detector at the LHC

Measurements of inclusive jet suppression in heavy ion collisions at the LHC provide direct sensitivity to the physics of jet quenching. In a sample of lead-lead collisions at sqrt(s) = 2.76 TeV corresponding to an integrated luminosity of approximately 7 inverse microbarns, ATLAS has measured jets with a calorimeter over the pseudorapidity interval |eta| < 2.1 and over the transverse momentum range 38 < pT < 210 GeV. Jets were reconstructed using the anti-kt algorithm with values for the distance parameter that determines the nominal jet radius of R = 0.2, 0.3, 0.4 and 0.5. The centrality dependence of the jet yield is characterized by the jet "central-to-peripheral ratio," Rcp. Jet production is found to be suppressed by approximately a factor of two in the 10% most central collisions relative to peripheral collisions. Rcp varies smoothly with centrality as characterized by the number of participating nucleons. The observed suppression is only weakly dependent on jet radius and transverse momentum. These results provide the first direct measurement of inclusive jet suppression in heavy ion collisions and complement previous measurements of dijet transverse energy imbalance at the LHC.Comment: 15 pages plus author list (30 pages total), 8 figures, 2 tables, submitted to Physics Letters B. All figures including auxiliary figures are available at http://atlas.web.cern.ch/Atlas/GROUPS/PHYSICS/PAPERS/HION-2011-02

Observation of a new chi_b state in radiative transitions to Upsilon(1S) and Upsilon(2S) at ATLAS

The chi_b(nP) quarkonium states are produced in proton-proton collisions at the Large Hadron Collider (LHC) at sqrt(s) = 7 TeV and recorded by the ATLAS detector. Using a data sample corresponding to an integrated luminosity of 4.4 fb^-1, these states are reconstructed through their radiative decays to Upsilon(1S,2S) with Upsilon->mu+mu-. In addition to the mass peaks corresponding to the decay modes chi_b(1P,2P)->Upsilon(1S)gamma, a new structure centered at a mass of 10.530+/-0.005 (stat.)+/-0.009 (syst.) GeV is also observed, in both the Upsilon(1S)gamma and Upsilon(2S)gamma decay modes. This is interpreted as the chi_b(3P) system.Comment: 5 pages plus author list (18 pages total), 2 figures, 1 table, corrected author list, matches final version in Physical Review Letter

Search for displaced vertices arising from decays of new heavy particles in 7 TeV pp collisions at ATLAS

We present the results of a search for new, heavy particles that decay at a significant distance from their production point into a final state containing charged hadrons in association with a high-momentum muon. The search is conducted in a pp-collision data sample with a center-of-mass energy of 7 TeV and an integrated luminosity of 33 pb^-1 collected in 2010 by the ATLAS detector operating at the Large Hadron Collider. Production of such particles is expected in various scenarios of physics beyond the standard model. We observe no signal and place limits on the production cross-section of supersymmetric particles in an R-parity-violating scenario as a function of the neutralino lifetime. Limits are presented for different squark and neutralino masses, enabling extension of the limits to a variety of other models.Comment: 8 pages plus author list (20 pages total), 8 figures, 1 table, final version to appear in Physics Letters