Testing for inconsistencies in the estimation of UK capital structure determinants

This article analyses the determinants of the capital structure of 1054 UK companies from 1991 to 1997, and the extent to which the influence of these determinants are affected by time-invariant firm-specific heterogeneity. Comparing the results of pooled OLS and fixed effects panel estimation, significant differences in the results are found. While the OLS results are generally consistent with prior literature, the results of our fixed effects panel estimation contradict many of the traditional theories of the determinants of corporate financial structure. This suggests that results of traditional studies may be biased owing to a failure to control for firm-specific, time-invariant heterogeneity. The results of the fixed effects panel estimation find larger companies to have higher levels of both long-term and short-term debt than do smaller firms, profitability to be negatively correlated with the level of gearing, although profitable firms tend to have more short-term bank borrowing than less profitable firms, and tangibility to positively influence the level of short-term bank borrowing, as well as all long-term debt elements. However, the level of growth opportunities appears to have little influence on the level of gearing, other than short-term bank borrowing, where a significant negative relationship is observed

Trajectory-Based Dynamic Map Labeling

In this paper we introduce trajectory-based labeling, a new variant of dynamic map labeling, where a movement trajectory for the map viewport is given. We define a general labeling model and study the active range maximization problem in this model. The problem is NP-complete and W[1]-hard. In the restricted, yet practically relevant case that no more than k labels can be active at any time, we give polynomial-time algorithms. For the general case we present a practical ILP formulation with an experimental evaluation as well as approximation algorithms.Comment: 19 pages, 7 figures, extended version of a paper to appear at ISAAC 201

Abundance Profiles and Kinematics of Damped Lyman-alpha Absorbing Galaxies at z < 0.65

We present a spectroscopic study of six damped Lya absorption (DLA) systems at z<0.65, based on moderate-to-high resolution spectra of the galaxies responsible for the absorbers. Combining known metallicity measurements of the absorbers with known optical properties of the absorbing galaxies, we confirm that the low metal content of the DLA population can arise naturally as a combination of gas cross-section selection and metallicity gradients commonly observed in local disk galaxies. We also study the Tully-Fisher relation of the DLA-selected galaxies and find little detectable evidence for evolution in the disk population between z=0 and z~0.5. Additional results of our analysis are as follows. (1) The DLA galaxies exhibit a range of spectral properties, from post-starburst, to normal disks, and to starburst systems, supporting the idea that DLA galaxies are drawn from the typical field population. (2) Large rotating HI disks of radius 30 h^{-1} kpc and of dynamic mass M_dyn > 10^{11} h^{-1} M_sun appear to be common at intermediate redshifts. (3) Using an ensemble of six galaxy-DLA pairs, we derive an abundance profile that is characterized by a radial gradient of -0.041 +/- 0.012 dex per kiloparsec (or equivalently a scale length of 10.6 h^{-1} kpc) from galactic center to 30 h^{-1} kpc radius. (4) Adopting known N(HI) profiles of nearby galaxies and the best-fit radial gradient, we further derive an N(HI)-weighted mean metallicity _weighted = -0.50 +/- 0.07 for the DLA population over 100 random lines of sight, consistent with _weighted = -0.64 (-0.86, +0.40) observed for z~1 DLA systems from Prochaska et al. Our analysis demonstrates that the low metal content of DLA systems does not rule out the possibility that the DLA population trace the field galaxy population.Comment: 57 pages, 17 figures, to appear in the ApJ 20 February 2005 issue; a pdf version of the paper with full-resolution figures is available at http://falcon.mit.edu/~hchen/public/tmp/dlachem.pd

Predicting an observer's task using multi-fixation pattern analysis

Since Yarbus's seminal work in 1965, vision scientists have argued that people's eye movement patterns differ depending upon their task. This suggests that we may be able to infer a person's task (or mental state) from their eye movements alone. Recently, this was attempted by Greene et al. [2012] in a Yarbus-like replication study; however, they were unable to successfully predict the task given to their observer. We reanalyze their data, and show that by using more powerful algorithms it is possible to predict the observer's task. We also used our algorithms to infer the image being viewed by an observer and their identity. More generally, we show how off-the-shelf algorithms from machine learning can be used to make inferences from an observer's eye movements, using an approach we call Multi-Fixation Pattern Analysis (MFPA)

Automatic eduction and statistical analysis of coherent structures in the wall region of a confine plane

This paper describes a vortex detection algorithm used to expose and statistically characterize the coherent flow patterns observable in the velocity vector fields measured by Particle Image Velocimetry (PIV) in the impingement region of air curtains. The philosophy and the architecture of this algorithm are presented. Its strengths and weaknesses are discussed. The results of a parametrical analysis performed to assess the variability of the response of our algorithm to the 3 user-specified parameters in our eduction scheme are reviewed. The technique is illustrated in the case of a plane turbulent impinging twin-jet with an opening ratio of 10. The corresponding jet Reynolds number, based on the initial mean flow velocity U0 and the jet width e, is 14000. The results of a statistical analysis of the size, shape, spatial distribution and energetic content of the coherent eddy structures detected in the impingement region of this test flow are provided. Although many questions remain open, new insights into the way these structures might form, organize and evolve are given. Relevant results provide an original picture of the plane turbulent impinging jet

Experimental Studies of Low-field Landau Quantization in Two-dimensional Electron Systems in GaAs/AlGaAs Heterostructures

By applying a magnetic field perpendicular to GaAs/AlGaAs two-dimensional electron systems, we study the low-field Landau quantization when the thermal damping is reduced with decreasing the temperature. Magneto-oscillations following Shubnikov-de Haas (SdH) formula are observed even when their amplitudes are so large that the deviation to such a formula is expected. Our experimental results show the importance of the positive magneto-resistance to the extension of SdH formula under the damping induced by the disorder.Comment: 9 pages, 3 figure

Fisher Renormalization for Logarithmic Corrections

For continuous phase transitions characterized by power-law divergences, Fisher renormalization prescribes how to obtain the critical exponents for a system under constraint from their ideal counterparts. In statistical mechanics, such ideal behaviour at phase transitions is frequently modified by multiplicative logarithmic corrections. Here, Fisher renormalization for the exponents of these logarithms is developed in a general manner. As for the leading exponents, Fisher renormalization at the logarithmic level is seen to be involutory and the renormalized exponents obey the same scaling relations as their ideal analogs. The scheme is tested in lattice animals and the Yang-Lee problem at their upper critical dimensions, where predictions for logarithmic corrections are made.Comment: 10 pages, no figures. Version 2 has added reference

Optical and near infrared observations of SN 2014ck: an outlier among the Type Iax supernovae

We present a comprehensive set of optical and near-infrared photometric and spectroscopic observations for SN 2014ck, extending from pre-maximum to six months later. These data indicate that SN 2014ck is photometrically nearly identical to SN 2002cx, which is the prototype of the class of peculiar transients named SNe Iax. Similar to SN 2002cx, SN 2014ck reached a peak brightness $M_B=-17.37 \pm 0.15$ mag, with a post-maximum decline-rate $\Delta m_{15} (B) = 1.76 \pm 0.15$ mag. However, the spectroscopic sequence shows similarities with SN 2008ha, which was three magnitudes fainter and faster declining. In particular, SN 2014ck exhibits extremely low ejecta velocities, $\sim 3000$ km s$^{-1}$ at maximum, which are close to the value measured for SN 2008ha and half the value inferred for SN 2002cx. The bolometric light curve of SN 2014ck is consistent with the production of $0.10^{+0.04}_{-0.03} M_{\odot}$ of $^{56}$Ni. The spectral identification of several iron-peak features, in particular Co II lines in the NIR, provides a clear link to SNe Ia. Also, the detection of narrow Si, S and C features in the pre-maximum spectra suggests a thermonuclear explosion mechanism. The late-phase spectra show a complex overlap of both permitted and forbidden Fe, Ca and Co lines. The appearance of strong [Ca~II] $\lambda\lambda$7292, 7324 again mirrors the late-time spectra of SN 2008ha and SN 2002cx. The photometric resemblance to SN 2002cx and the spectral similarities to SN 2008ha highlight the peculiarity of SN 2014ck, and the complexity and heterogeneity of the SNe Iax class.Comment: MNRAS Accepted 2016 March 22. Received 2016 March

Critical behavior of the 3-state Potts model on Sierpinski carpet

We study the critical behavior of the 3-state Potts model, where the spins are located at the centers of the occupied squares of the deterministic Sierpinski carpet. A finite-size scaling analysis is performed from Monte Carlo simulations, for a Hausdorff dimension $d_{f}$ $\simeq 1.8928$. The phase transition is shown to be a second order one. The maxima of the susceptibility of the order parameter follow a power law in a very reliable way, which enables us to calculate the ratio of the exponents $\gamma /\nu$. We find that the scaling corrections affect the behavior of most of the thermodynamical quantities. However, the sequence of intersection points extracted from the Binder's cumulant provides bounds for the critical temperature. We are able to give the bounds for the exponent $1/\nu$ as well as for the ratio of the exponents $\beta/\nu$, which are compatible with the results calculated from the hyperscaling relation.Comment: 13 pages, 4 figure