Fundamentals, Market Timing, and Seasoned Equity Offerings

Firms conduct SEOs to resolve a near-term liquidity squeeze, and not primarily to exploit market timing opportunities. Without the SEO proceeds, 62.6% of issuers would have insufficient cash to implement their chosen operating and non-SEO financing decisions the year after the SEO. Although the SEO decision is positively related to a firm's market-to-book (M/B) ratio and prior excess stock return and negatively related to its future excess return, these relations are economically immaterial. For example, a 150% swing in future net of market stock returns (from a 75% gain to a 75% loss over three years) increases by only 1% the probability of an SEO in the immediately prior year. Strikingly, most firms with quintessential "market timer" characteristics fail to issue stock and a non-trivial number of mature firms do issue stock, with current and former dividend payers raising more than half of all issue proceeds.

Tree Shadow Series

My shadow paintings aim to create a symbiotic relationship between contemporary art and nature by combining synthetically produced materials with distinct organic forms. In every moment, there exist uncontrollable variables which create unique experiences. I am in awe of the elegant audacity with which nature reveals these moments. I initiate a discussion with nature by bringing the canvas outside and painting fleeting shadows projected onto the canvas. Although my first four paintings stopped here, the more recent paintings were then brought into the studio, where it was my challenge to formally transform the layered tracings into paintings. Ideally, these captured moments of light (or the absence thereof) accumulate to yield another completely individual experience provided by the color and movement of the painting itself

A Psychological and Behavioral Analysis of Child Sex Offenders: the Use of Expert Search Warrants in the Criminal Investigation of Acquaintance Molestation: the Use of Expert Search Warrants in the Criminal Investigation of Acquaintance Molestation

The Use of Expert Search Warrants in the Criminal Investigation of Acquaintance Molestation Child sexual abuse is a critical social problem throughout the U.S. and the world. Often, a competent and thorough investigation can substantiate or discredit an allegation and notably support a subsequent prosecution of a substantiated case. A manual was created to assist law enforcement detectives who investigate allegations of child sex abuse. The investigative process includes: (a) forensic interviews of child victims, (b) collection of corroborative evidence, (c) analysis of offender characteristics and typologies, (d) offender interviews, and (e) search warrants to include expert search warrants

8. The 1980s

From the Introduction, “The Changes at ILR that began in the seventies slipped imperceptibly into the eighties, and those that may have originated at that time have, for better or worse, left their mark on the present decade. In other words, dividing history into decades is not a particularly precise way of delineating times. Clearly, there was much gaiety preceding and following the Gay Nineties, as there were certainly many roars heard before and after the Roaring Twenties. Moreover, since the speed of change in academia runs at such a leisurely pace, it is virtually impossible to say exactly when an idea found its way into formal practice. Includes: Introduction; A Dean’s View, 1980-85; Deaning, 1985-88; Robert Risley; and An Advisory Council Perspective

Light Assisted Collisional Loss in a 85/87^{85/87}Rb Ultracold Optical Trap

We have studied hetero- and homonuclear excited state/ground state collisions by loading both $^{85}$Rb and $^{87}$Rb into a far off resonant trap (FORT). Because of the relatively weak confinement of the FORT, we expect the hyperfine structure of the different isotopes to play a crucial role in the collision rates. This dependence on hyperfine structure allows us to measure collisions associated with long range interatomic potentials of different structure: such as long and short ranged; or such as purely attractive, purely repulsive, or mixed attractive and repulsive. We observe significantly different loss rates for different excited state potentials. Additionally, we observe that some collisional channels' loss rates are saturated at our operating intensities (~15 mW/cm$^{2}$). These losses are important limitations in loading dual isotope optical traps.Comment: about 8 pages, 5 figure

Preferentially Etched Epitaxial Liftoff of InP Material

The present invention is directed toward a method of removing epitaxial substrates from host substrates. A sacrificial release layer of ternary material is placed on the substrate. A layer of InP is then placed on the ternary material. Afterward a layer of wax is applied to the InP layer to apply compressive force and an etchant material is used to remove the sacrificial release layer

Preferentially etched epitaxial liftoff of InP material

The present invention is directed toward a method of removing epitaxial substrates from host substrates. A sacrificial release layer of ternary material is placed on the substrate. A layer of InP is then placed on the ternary material. Afterward a layer of wax is applied to the InP layer to apply compressive force and an etchant material is used to remove the sacrificial release layer

Peeled film GaAs solar cells for space power

Gallium arsenide (GaAs) peeled film solar cells were fabricated, by Organo-Metallic Vapor Phase Epitaxy (OMVPE), incorporating an aluminum arsenide (AlAs) parting layer between the device structure and the GaAs substrate. This layer was selectively removed by etching in dilute hydrofloric (HF) acid to release the epitaxial film. Test devices exhibit high series resistance due to insufficient back contact area. A new design is presented which uses a coverglass superstrate for structural support and incorporates a coplanar back contact design. Devices based on this design should have a specific power approaching 700 W/Kg

Targeting reserve growth opportunities in the northern Gulf of Mexico Basin: transferring secondary gas recovery technology to the offshore environment - book 2

The Bureau of Economic Geology's (BEG) Offshore Secondary Gas Recovery is a multi-fiscal-year project funded by the U.S. Department of Energy, whose goal is to research new techniques for defining the structure, stratigraphy, and hydrocarbons in a mature area in the northern Gulf of Mexico and to utilize those multidisciplinary methods to identify additional gas resources, as well as predict regional trends in hydrocarbon accumulation. Phases 1 and 2 of the project work plan (Project Preparation and Data Gathering and Loading, respectively) are completed. Phase 3 of the plan (Data Analysis) is 65 percent completed, with all third- and fourth-order key surfaces mapped in the log data. Sixty fourth-order and twelve third-order sequences have been defined using well data, and key flooding surfaces have been mapped in the seismic volume. Structural mapping of 13 key horizons is completed and provides a structural framework within which to look at production and reservoir development. The sequence framework is complete within and immediately between the two fields and provides a basis for examining hydrocarbon occurrence and distribution. Structural slices of the seismic amplitude data volume have been completed at 4-ms intervals through the data, providing detailed maps of amplitude anomalies associated with quality reservoirs. The process of transforming the seismic attribute volume into a three-dimensional petrophysical volume is progressing, and the addition of an engineer in FY 2001 will initiate development of a fourth-order-level reservoir-flow model within a carefully chosen subset of the data volume.Bureau of Economic Geolog

Development of Active Seimic Vector Wavefield Imaging Technology for Geothermal Applications

This manuscript is the final report for the research project conducted under grant no. DE-FG07-97ID 13573, Development of Active Seismic Vector-Wavefield Imaging Technology for Geothermal Applications, funded by the U.S. Department of Energy, Idaho Operations Office. The report is structured as two parts. The first, and major, portion describes the development and testing of new vector-wavefield seismic sources that can generate shear (S) waves that may be valuable in geothermal exploration and reservoir characterization. The second part describes a 3-D seismic data-processing effort to create images of Rye Patch geothermal reservoir from 3-D sign-bit data recorded over that geothermal prospect. Vector-wavefield illumination of subsurface targets with S-waves is essential for interpreting anisotropic rock systems, particularly systems that are dominated by fractures, as many geothermal reservoirs are. Two new seismic sources were developed and tested in this study that can be used to illuminate geothermal reservoirs with S-waves. The first source was an explosive package that generates a strong, azimuth-oriented, horizontal force vector when deployed in a conventional shot hole. This vector-explosive source has never been available to industry before. The second source was a dipole formed by operating two vertical vibrators in either a force or phase imbalance. Field data are shown that document the strong S-wave modes generated by these sources. Three-dimensional (3-D) seismic technology has had a tremendous economic influence on oil and gas exploration. Thus applications of 3-D seismic techniques may also have an economic impact on geothermal exploration and must be evaluated. One such 3-D seismic evaluation was done as the final phase of this study. Tape copies of a 3-D P-wave seismic survey (not a vector-wavefield survey) recorded in sign-bit format over Rye Patch geothermal field in northwest Nevada were received from Subsurface Exploration Company. These data were reprocessed, and the results of the data-processing research were coordinated with Lawrence Berkeley Laboratory. The sign-bit data recorded at Rye Patch had low signal-to-noise character, and the final migrated data volume had limited interpretation value. Recommendations for improving 3-D seismic data quality in future geothermal surveys are provided.Bureau of Economic Geolog