181 research outputs found

    Quasar Host Galaxies in the FORS Deep Field

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    (abriged)In this paper we study different properties of quasars and their host galaxies at high redshifts up to z~3.4. We compare our results to those of other authors and discuss the correlation between galaxy evolution and quasar activity. We analysed broad-band images in eight filters (from U to K) of eight quasars in the FORS Deep Field with redshifts between z=0.87 and z=3.37. A fully 2-dimensional decomposition was carried out to detect and resolve the host galaxies. We were able to resolve the host galaxies of two out of eight quasars between z=0.87 and z=2.75. Additionally, two host galaxies were possibly resolved. The resolved low-redshift quasar (z=0.9) was identified as a late type galaxy with a moderate star formation rate of 1.8 M_{sun}/yr hosting a supermassive black hole with a mass of <10^{8}M_{sun}. The resolved high redshift host galaxy (z=2.8) shows moderate star formation of 4.4-6.9 M_{sun}/yr, for the black hole mass we found a lower limit of >10^{7}M_{sun}. All quasars host supermassive black hole with masses in the range ~10^{7}-10^{9}M_{sun}. Our findings are well consistent with those of other authors.Comment: 16 pages, 5 figures, 11 tables, accepted for publication in A&

    HETDEX pilot survey for emission-line galaxies - I. Survey design, performance, and catalog

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    We present a catalog of emission-line galaxies selected solely by their emission-line fluxes using a wide-field integral field spectrograph. This work is partially motivated as a pilot survey for the upcoming Hobby-Eberly Telescope Dark Energy Experiment (HETDEX). We describe the observations, reductions, detections, redshift classifications, line fluxes, and counterpart information for 397 emission-line galaxies detected over 169 sq.arcmin with a 3500-5800 Ang. bandpass under 5 Ang. full-width-half-maximum (FWHM) spectral resolution. The survey's best sensitivity for unresolved objects under photometric conditions is between 4-20 E-17 erg/s/sq.cm depending on the wavelength, and Ly-alpha luminosities between 3-6 E42 erg/s are detectable. This survey method complements narrowband and color-selection techniques in the search for high redshift galaxies with its different selection properties and large volume probed. The four survey fields within the COSMOS, GOODS-N, MUNICS, and XMM-LSS areas are rich with existing, complementary data. We find 104 galaxies via their high redshift Ly-alpha emission at 1.9<z<3.8, and the majority of the remainder objects are low redshift [OII]3727 emitters at z<0.56. The classification between low and high redshift objects depends on rest frame equivalent width, as well as other indicators, where available. Based on matches to X-ray catalogs, the active galactic nuclei (AGN) fraction amongst the Ly-alpha emitters (LAEs) is 6%. We also analyze the survey's completeness and contamination properties through simulations. We find five high-z, highly-significant, resolved objects with full-width-half-maximum sizes >44 sq.arcsec which appear to be extended Ly-alpha nebulae. We also find three high-z objects with rest frame Ly-alpha equivalent widths above the level believed to be achievable with normal star formation, EW(rest)>240 Ang.Comment: 45 pages, 36 figures, 5 tables, submitted to ApJ

    Implied cost of capital investment strategies - evidence from international stock markets

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    Investors can generate excess returns by implementing trading strategies based on publicly available equity analyst forecasts. This paper captures the information provided by analysts by the implied cost of capital (ICC), the internal rate of return that equates a firm's share price to the present value of analysts' earnings forecasts. We find that U.S. stocks with a high ICC outperform low ICC stocks on average by 6.0% per year. This spread is significant when controlling the investment returns for their risk exposure as proxied by standard pricing models. Further analysis across the world's largest equity markets validates these results

    Evolutive Unification in Composite Active Galactic Nuclei

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    In this paper we explore an evolutionary Unified scenario involving super massive black hole and starburst with outflow, that seems capable of explaining most of the observational properties of at least part of AGNs. Our suggestion is explored inside the expectations of the Starburst model close associated with the AGN where the NLR, BLR and BAL region are produced in part by the outflow process with shells and in compact supernova remnants. The outflow process in BAL QSOs with extreme IR and Fe II emission is studied. In addition, the Fe II poblem regarding the BLR of AGN is analysed. Neither the correlations between the BAL, IR emission, FeII intensity and the intrinsic properties of the AGN are clearly understood. We suggest here that the behaviour of the BAL, IR and FeII emission in AGNs can be understood inside an evolutionary and composite model for AGNs. In our model, strong BAL systems and Fe II emission are present (and intense) in young IR objects. Orientation/ obscuration effects take the role of a second parameter providing the segregation between Sy1/Sy2 and BLRG/NLRG.Comment: 14 pages, 6 figures (submitted MNRAS

    International Financial Reporting Standards and Earnings Management in Latin America

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    This study analyzes the level of earnings management in Latin America after the adoption of the International Financial Reporting Standards (IFRS) and analyzes the role of cross-listing in the United States. The literature on earnings management in less developed countries is still under construction, and few studies focus on this issue, especially with respect to Latin America, despite its relevant role in the global economy. This paper fills this gap in the literature as it analyzes the level of IFRS earnings management regarding the first and main Latin American countries applying IFRS (Brazil and Chile), when compared to the main Anglo-Saxon countries with IFRS tradition (United Kingdom and Australia), and with the main Continental European economies (France and Germany). The results show that Latin American firms present a higher level of earnings management than Continental European and Anglo-Saxon firms, and this opportunistic behavior remains significant when only global players with cross-listing in the United States are analyzed. Thus, even with a unique set of high quality accounting standards (IFRS) and strong reporting incentives, countries’ specific characteristics still play an important role in the way IFRS is implemented in each country

    From empirics to empiricists

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    Effects of Anacetrapib in Patients with Atherosclerotic Vascular Disease

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    BACKGROUND: Patients with atherosclerotic vascular disease remain at high risk for cardiovascular events despite effective statin-based treatment of low-density lipoprotein (LDL) cholesterol levels. The inhibition of cholesteryl ester transfer protein (CETP) by anacetrapib reduces LDL cholesterol levels and increases high-density lipoprotein (HDL) cholesterol levels. However, trials of other CETP inhibitors have shown neutral or adverse effects on cardiovascular outcomes. METHODS: We conducted a randomized, double-blind, placebo-controlled trial involving 30,449 adults with atherosclerotic vascular disease who were receiving intensive atorvastatin therapy and who had a mean LDL cholesterol level of 61 mg per deciliter (1.58 mmol per liter), a mean non-HDL cholesterol level of 92 mg per deciliter (2.38 mmol per liter), and a mean HDL cholesterol level of 40 mg per deciliter (1.03 mmol per liter). The patients were assigned to receive either 100 mg of anacetrapib once daily (15,225 patients) or matching placebo (15,224 patients). The primary outcome was the first major coronary event, a composite of coronary death, myocardial infarction, or coronary revascularization. RESULTS: During the median follow-up period of 4.1 years, the primary outcome occurred in significantly fewer patients in the anacetrapib group than in the placebo group (1640 of 15,225 patients [10.8%] vs. 1803 of 15,224 patients [11.8%]; rate ratio, 0.91; 95% confidence interval, 0.85 to 0.97; P=0.004). The relative difference in risk was similar across multiple prespecified subgroups. At the trial midpoint, the mean level of HDL cholesterol was higher by 43 mg per deciliter (1.12 mmol per liter) in the anacetrapib group than in the placebo group (a relative difference of 104%), and the mean level of non-HDL cholesterol was lower by 17 mg per deciliter (0.44 mmol per liter), a relative difference of -18%. There were no significant between-group differences in the risk of death, cancer, or other serious adverse events. CONCLUSIONS: Among patients with atherosclerotic vascular disease who were receiving intensive statin therapy, the use of anacetrapib resulted in a lower incidence of major coronary events than the use of placebo. (Funded by Merck and others; Current Controlled Trials number, ISRCTN48678192 ; ClinicalTrials.gov number, NCT01252953 ; and EudraCT number, 2010-023467-18 .)
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