Controlled foreign corporation rules and cross-border M&A activity

We investigate the influence of one main anti tax avoidance measure, controlled foreign corporation (CFC) rules, on cross-border merger and acquisition (M&A) activity on a global scale. Using three different statistical methods and a large M&A data set, we find that CFC rules distort ownership patterns due to a competitive advantage of multinational entities whose parents reside in non-CFC rule countries. First, we show that the probability of being the acquirer of a low-tax target decreases if CFC rules may be applicable to this target’s income. Second, we show that CFC rules distort the acquirer’s location choice of targets. Third, we show that CFC rules negatively affect the probability of being the acquirer in a cross-border M&A. Altogether, this study shows that for affected acquirer countries, CFC rules lead to less M&A activity in low-tax countries because profit shifting seems to be less feasible. This behavior change could result in an increase in global corporate tax revenue

Controlled foreign corporation rules and cross-border M&A activity

We investigate the influence of one main anti tax avoidance measure, controlled foreign corporation (CFC) rules, on cross-border merger and acquisition (M&A) activity on a global scale. Using three different statistical methods and a large M&A data set, we find that CFC rules distort ownership patterns due to a competitive advantage of multinational entities whose parents reside in non-CFC rule countries. First, we show that the probability of being the acquirer of a low-tax target decreases if CFC rules may be applicable to this target’s income. Second, we show that CFC rules distort the acquirer’s location choice of targets. Third, we show that CFC rules negatively affect the probability of being the acquirer in a cross-border M&A. Altogether, this study shows that for affected acquirer countries, CFC rules lead to less M&A activity in low-tax countries because profit shifting seems to be less feasible. This behavior change could result in an increase in global corporate tax revenue

It was (not) me: Causal Inference of Agency in goal-directed actions

Summary: 
The perception of one’s own actions depends on both sensory information and predictions derived from internal forward models [1]. The integration of these information sources depends critically on whether perceptual consequences are associated with one’s own action (sense of agency) or with changes in the external world that are not related to the action. The perceived effects of actions should thus critically depend on the consistency between the predicted and the actual sensory consequences of actions. To test this idea, we used a virtual-reality setup to manipulate the consistency between pointing movements and their visual consequences and investigated the influence of this manipulation on self-action perception. We then asked whether a Bayesian causal inference model, which assumes a latent agency variable controlling the attributed influence of the own action on perceptual consequences [2,3], would account for the empirical data: if the percept was attributed to the own action, visual and internal information should fuse in a Bayesian optimal manner, while this should not be the case if the visual stimulus was attributed to external influences. The model correctly fits the data, showing that small deviations between predicted and actual sensory information were still attributed to one’s own action, while this was not the case for large deviations when subjects relied more on internal information. We discuss the performance of this causal inference model in comparison to alternative biologically feasible statistical models applying methods for Bayesian model comparison.

Experiment: 
Participants were seated in front of a horizontal board on which their right hand was placed with the index finger on a haptic marker, representing the starting point for each trial. Participants were instructed to execute straight, fast (quasi-ballistic) pointing movements of fixed amplitude, but without an explicit visual target. The hand was obstructed from the view of the participants, and visual feedback about the peripheral part of the movement was provided by a cursor. Feedback was either veridical or rotated against the true direction of the hand movement by predefined angles. After each trial participants were asked to report the subjectively experienced direction of the executed hand movement by placing a mouse-cursor into that direction.

Model: 
We compared two probabilistic models: Both include a binary random gating variable (agency) that models the sense of ‘agency’; that is the belief that the visual feedback is influenced by the subject’s motor action. The first model assumes that both the visual feedback xv and the internal motor state estimate xe are directly caused by the (unobserved) real motor state xt (Fig. 1). The second model assumes instead that the expected visual feedback depends on the perceived direction of the own motor action xe (Fig. 2). 
Results: Both models are in good agreement with the data. Fig. A shows the model fit for Model 1 superpositioned to the data from a single subject. Fig. B shows the belief that the visual stimulus was influenced by the own action, which decreases for large deviations between predicted and real visual feedback. Bayesian model comparison shows a better fit for model 1.
Citations
[1] Wolpert D.M, Ghahramani, Z, Jordan, M. (1995) Science, 269, 1880-1882.
[2] Körding KP, Beierholm E, Ma WJ, Quartz S, Tenenbaum JB, et al (2007) PLoS ONE 2(9): e943.
[3] Shams, L., Beierholm, U. (2010) TiCS, 14: 425-432.
Acknowledgements
This work was supported by the BCCN Tübingen (FKZ: 01GQ1002), the CIN Tübingen, the European Union (FP7-ICT-215866 project SEARISE), the DFG and the Hermann and Lilly Schilling Foundation

Ein allgemeiner Ansatz zur Montage deformierbarer linearer Werkstücke mit Industrierobotern

Diese Arbeit skizziert einen allgemeinen Ansatz zur Montage deformierbarer linearer Werkstücke (wie Kabel, Drähte, Schläuche, Blattfedern) mit Industrierobotern. Hierzu werden insbesondere die folgenden zwei Aspekte betrachtetet. Erstens die zuverlässige Ausführung der Montage unter Berücksichtigung der Werkstückdeformation und anderer Unsicherheiten, zweitens die numerische Simulation des Werkstückverhaltens. Zur robusten Ausführung der Montage wird das aus der Montage starrer Werkstücke bekannte Konzept der Manipulation-Skills auf deformierbare Werkstücke übertragen. Bei der numerischen Simulation wird insbesondere die Bestimmung der Greifertrajektorie bei gegebener Aufgabenstellung betrachtet

A Sensitive Search for [N II]205 μm Emission in a z = 6.4 Quasar Host Galaxy

We present a sensitive search for the 3P1 → 3P0 ground-state fine structure line at 205 μm of ionized nitrogen ([N II]205μm) in one of the highest-redshift quasars (J1148+5251 at z = 6.42) using the IRAM 30 m telescope. The line is not detected at a (3σ) depth of 0.47 Jy km s^−1, corresponding to a [N II]205μm luminosity limit of L[N II] 7) using the Atacama Large Millimeter/submillimeter Array, for which the highly excited rotational transitions of CO will be shifted outside the accessible (sub-)millimeter bands

Adversarial Diffusion Distillation

We introduce Adversarial Diffusion Distillation (ADD), a novel training approach that efficiently samples large-scale foundational image diffusion models in just 1-4 steps while maintaining high image quality. We use score distillation to leverage large-scale off-the-shelf image diffusion models as a teacher signal in combination with an adversarial loss to ensure high image fidelity even in the low-step regime of one or two sampling steps. Our analyses show that our model clearly outperforms existing few-step methods (GANs, Latent Consistency Models) in a single step and reaches the performance of state-of-the-art diffusion models (SDXL) in only four steps. ADD is the first method to unlock single-step, real-time image synthesis with foundation models. Code and weights available under https://github.com/Stability-AI/generative-models and https://huggingface.co/stabilityai/

Effect of ampicillin-sulbactam on clinical capillary zone electrophoresis of serum proteins

Background: Capillary zone electrophoresis (CZE) is a well-accepted automated method used to separate serum proteins and detect monoclonal components. CZE uses ultraviolet detection at 214nm to directly quantify proteins via peptide bonds. Any substance that absorbs at 214nm and is present in serum can potentially interfere with CZE analysis. This has been reported for radio-contrast media and antibiotics. Methods: Here we describe a peak on the anode side of the α2-globulin fraction caused by the antibiotic ampicillin-sulbactam (Unacid®). Results and conclusions: Extra peaks that can be misinterpreted as monoclonal components can be present in almost all electrophoretic fractions of CZE. Immunosubtraction or immunofixation is always required to rule out these conditions. Clin Chem Lab Med 2008;46:1468-

FAS-Based Cell Depletion Facilitates the Selective Isolation of Mouse Induced Pluripotent Stem Cells

Cellular reprogramming of somatic cells into induced pluripotent stem cells (iPSC) opens up new avenues for basic research and regenerative medicine. However, the low efficiency of the procedure remains a major limitation. To identify iPSC, many studies to date relied on the activation of pluripotency-associated transcription factors. Such strategies are either retrospective or depend on genetically modified reporter cells. We aimed at identifying naturally occurring surface proteins in a systematic approach, focusing on antibody-targeted markers to enable live-cell identification and selective isolation. We tested 170 antibodies for differential expression between mouse embryonic fibroblasts (MEF) and mouse pluripotent stem cells (PSC). Differentially expressed markers were evaluated for their ability to identify and isolate iPSC in reprogramming cultures. Epithelial cell adhesion molecule (EPCAM) and stage-specific embryonic antigen 1 (SSEA1) were upregulated early during reprogramming and enabled enrichment of OCT4 expressing cells by magnetic cell sorting. Downregulation of somatic marker FAS was equally suitable to enrich OCT4 expressing cells, which has not been described so far. Furthermore, FAS downregulation correlated with viral transgene silencing. Finally, using the marker SSEA-1 we exemplified that magnetic separation enables the establishment of bona fide iPSC and propose strategies to enrich iPSC from a variety of human source tissues