Recent Developments in Trade Between the U.S. and the P.R.C.: A Legal and Economic Perspective

This paper presents the life story of a single small-business owner of immigrant background who wants his companyto grow. His business strategies are analysed both as a part of his own biographical work, and as they wereinfluenced and framed by broader political, economic and social processes. It is shown how his own personalqualities in combination with opportunity structures in the local market provided favourable conditions for hisbreak-in. Breaking out, however, seems to be presented with different types of barriers, such as lack of access tocapital, discrimination, and the fact that new markets may consist of different sorts of network that are in its turnmore difficult for new actors to enter. But even if newcomers often find these barriers difficult for to overcome,individuals are not just passive objects but also have the opportunity to realize their lives according to their own lifeplans

Covariance Risk, Mispricing, and the Cross Section of Security Returns

This paper offers a multisecurity model in which prices reflect both covariance risk and misperceptions of firms' prospects, and in which arbitrageurs trade to profit from mispricing. We derive a pricing relationship in which expected returns are linearly related to both risk and mispricing variables. The model thereby implies a multivariate relation between expected return, beta, and variables that proxy for mispricing of idiosyncratic components of value tends to be arbitraged away but systematic mispricing is not. The theory is consistent with several empirical findings regarding the cross-section of equity returns, including: the observed ability of fundamental/price ratios to forecast aggregate and cross-sectional returns, and of market value but not non-market size measures to forecast returns cross-sectionally; and the ability in some studies of fundamental/price ratios and market value to dominate traditional measures of security risk. The model also offers several untested empirical implications for the cross-section of expected returns and for the relation of volume to subsequent volatility.

Ligand Discrimination in Myoglobin from Linear-Scaling DFT+U

Myoglobin modulates the binding of diatomic molecules to its heme group via hydrogen-bonding and steric interactions with neighboring residues, and is an important benchmark for computational studies of biomolecules. We have performed calculations on the heme binding site and a significant proportion of the protein environment (more than 1000 atoms) using linear-scaling density functional theory and the DFT+U method to correct for self-interaction errors associated with localized 3d states. We confirm both the hydrogen-bonding nature of the discrimination effect (3.6 kcal/mol) and assumptions that the relative strain energy stored in the protein is low (less than 1 kcal/mol). Our calculations significantly widen the scope for tackling problems in drug design and enzymology, especially in cases where electron localization, allostery or long-ranged polarization influence ligand binding and reaction.Comment: 15 pages, 3 figures. Supplementary material 8 pages, 3 figures. This version matches that accepted for J. Phys. Chem. Lett. on 10th May 201

Searching for Oscillations in the Primordial Power Spectrum: Perturbative Approach (Paper I)

In this first of two papers, we present a new method for searching for oscillatory features in the primordial power spectrum. A wide variety of models predict these features in one of two different flavors: logarithmically spaced oscillations and linearly spaced oscillations. The proposed method treats the oscillations as perturbations on top of the scale-invariant power spectrum, allowing us to vary all cosmological parameters. This perturbative approach reduces the computational requirements for the search as the transfer functions and their derivatives can be precomputed. We show that the most significant degeneracy in the analysis is between the distance to last scattering and the overall amplitude at low frequencies. For models with logarithmic oscillations, this degeneracy leads to an uncertainty in the phase. For linear spaced oscillations, it affects the frequency of the oscillations. In this first of two papers, we test our code on simulated Planck-like data, and show we are able to recover fiducial input oscillations with an amplitude of a few times order 10^{-2}. We apply the code to WMAP9-year data and confirm the existence of two intriguing resonant frequencies for log spaced oscillations. For linear spaced oscillations we find a single resonance peak. We use numerical simulations to assess the significance of these features and conclude that the data do not provide compelling evidence for the existence of oscillatory features in the primordial spectrum.Comment: 13 pages, 22 figures. Paper 1 of 2. Fixed typos, added reference

The yeast F1-ATPase beta subunit precursor contains functionally redundant mitochondrial protein import information

The NH2 terminus of the yeast F1-ATPase beta subunit precursor directs the import of this protein into mitochondria. To define the functionally important components of this import signal, oligonucleotide-directed mutagenesis was used to introduce a series of deletion and missense mutations into the gene encoding the F1-beta subunit precursor. Among these mutations were three nonoverlapping deletions, two within the 19-amino-acid presequence (delta 5-12 and delta 16-19) and one within the mature protein (delta 28-34). Characterization of the mitochondrial import properties of various mutant F1-beta subunit proteins containing different combinations of these deletions showed that import was blocked only when all three deletions were combined. Mutant proteins containing all possible single and pairwise combinations of these deletions were found to retain the ability to direct mitochondrial import of the F1-beta subunit. These data suggest that the F1-beta subunit contains redundant import information at its NH2 terminus. In fact, we found that deletion of the entire F1-beta subunit presequence did not prevent import, indicating that a functional mitochondrial import signal is present near the NH2 terminus of the mature protein. Furthermore, by analyzing mitochondrial import of the various mutant proteins in [rho-] yeast, we obtained evidence that different segments of the F1-beta subunit import signal may act in an additive or cooperative manner to optimize the import properties of this protein