New evidence on market impact of convertible bond issues on United States firms

This study examines the market impact of recent convertible bonds new issues of United States listed firms. The thesis focus mainly on the market reaction surrounding the announcement dates and the issue dates of convertible bonds. The evidence suggests that firms experience negative abnormal returns around the announcement of new issues of convertible bonds. The determinants of these abnormal returns are the total market value of firms, their price-to-book ratio, the period 2000-2001 and the outstanding amount of the issues. A simulation made using convertible arbitrage strategies suggests that investor could take advantage of these negative abnormal returns by going long on the firm's convertible bond and short on the firm's stock at the issue date

Étude du procédé d'évaporation des extraits de canneberge et bleuet sur la base des rendements énergétiques et de leur qualité

Le projet vise l’optimisation de l’évaporation industrielle sous vide des extraits liquides de petits fruits, phase du procédé de production d’extraits nutraceutiques, afin d’augmenter son efficacité énergétique, tout en conservant une grande qualité de produit. Nous avons étudié l’impact de la température d’évaporation (55, 65 et 75 (C) sur trois paramètres : la consommation énergétique, le débit d’évaporation et la qualité des extraits. La consommation a été calculée par différentes mesures sur l’état du système et du produit. Les débits ont été mesurés par des différentiels de niveaux de réservoirs puis la qualité évaluée selon la méthode Folin-Ciocalteu. Au niveau de la consommation, celle-ci passe de 0,358 à 0,373 kWh/l en passant de 55 à 75°C. Pour les débits, ceux-ci augmentent de 462 l/h à 902 l/h en passant de 55 à 75 (C. En ce qui a trait à la qualité, aucun extrait ne présente de signes de détérioration.The objective of this project is to optimize the evaporation of small fruit liquid extracts, a crucial step in the transformation process of nutraceutical extract production in order to increase its energetic efficiency while keeping a good product quality. The impact of temperature (55, 65 and 75°C) was studied over 3 main parameters; the energetic consumption, the vaporization rate and the extract quality. Its consumption was calculated based on measurements made on the state of the system and on the product. The vaporization rates were measured with level differentials on retention tanks and the product quality evaluation was based on the Folin-Ciocalteu method. For the energetic consumption, they increase from 0.358 to 0.373 kWh/l when passing from 55 to 75 °C. For the vaporization rates, they increase from 462 l/h to 902 l/h when passing from 55 to 75 °C. As for the quality, none of the extracts presents signs of deterioration

A wireless electro-optic platform for multimodal electrophysiology and optogenetics in freely moving rodents

This paper presents the design and the utilization of a wireless electro-optic platform to perform simultaneous multimodal electrophysiological recordings and optogenetic stimulation in freely moving rodents. The developed system can capture neural action potentials (AP), local field potentials (LFP) and electromyography (EMG) signals with up to 32 channels in parallel while providing four optical stimulation channels. The platform is using commercial off-the-shelf components (COTS) and a low-power digital field-programmable gate array (FPGA), to perform digital signal processing to digitally separate in real time the AP, LFP and EMG while performing signal detection and compression for mitigating wireless bandwidth and power consumption limitations. The different signal modalities collected on the 32 channels are time-multiplexed into a single data stream to decrease power consumption and optimize resource utilization. The data reduction strategy is based on signal processing and real-time data compression. Digital filtering, signal detection, and wavelet data compression are used inside the platform to separate the different electrophysiological signal modalities, namely the local field potentials (1–500 Hz), EMG (30–500 Hz), and the action potentials (300–5,000 Hz) and perform data reduction before transmitting the data. The platform achieves a measured data reduction ratio of 7.77 (for a firing rate of 50 AP/second) and weights 4.7 g with a 100-mAh battery, an on/off switch and a protective plastic enclosure. To validate the performance of the platform, we measured distinct electrophysiology signals and performed optogenetics stimulation in vivo in freely moving rondents. We recorded AP and LFP signals with the platform using a 16-microelectrode array implanted in the primary motor cortex of a Long Evans rat, both in anesthetized and freely moving conditions. EMG responses to optogenetic Channelrhodopsin-2 induced activation of motor cortex via optical fiber were also recorded in freely moving rodents

Guide to identifying alert thresholds for heat waves in Canada based on evidence

Among natural-disaster risks, heat waves are responsible for a large number of deaths, diseases and economic losses around the world. As they will increase in severity, duration and frequency over the decades to come within the context of climate change, these extreme events constitute a genuine danger to human health, and heat-warning systems are strongly recommended by public health authorities to reduce this risk of diseases and of excessive mortality and morbidity. Thus, evidence-based public alerting criteria are needed to reduce impacts on human health before and during persistent hot weather conditions.\ud The goal of this guide is to identify alert thresholds for heat waves in Canada based on evidence, and to propose an approach for better defining heat waves in the Canadian context in order to reduce the risks to human health and contribute to the well-being of Canadians. This guide is the result of the collaboration among various research and public institutions working on: 1) meteorological and climate aspects, i.e. the Meteorological Service of Canada (MSC, Environment and Climate Change Canada), and the ESCER centre at the Université du Québec à Montréal, and 2) public health, i.e. Health Canada and the Institut National de Santé Publique du Québec

Nonlinear X-Wave Ultrasound Imaging of Acoustic Biomolecules

The basic physics of sound waves enables ultrasound to visualize biological tissues with high spatial and temporal resolution. Recently, this capability was enhanced with the development of acoustic biomolecules—proteins with physical properties enabling them to scatter sound. The expression of these unique air-filled proteins, known as gas vesicles (GVs), in cells allows ultrasound to image cellular functions such as gene expression in vivo, providing ultrasound with its analog of optical fluorescent proteins. Acoustical methods for the in vivo detection of GVs are now required to maximize the impact of this technology in biology and medicine. We previously engineered GVs exhibiting a nonlinear scattering behavior in response to acoustic pressures above 300 kPa and showed that amplitude-modulated (AM) ultrasound pulse sequences that excite both the linear and nonlinear GV scattering regimes were highly effective at distinguishing GVs from linear scatterers like soft biological tissues. Unfortunately, the in vivo specificity of AM ultrasound imaging is systematically compromised by the nonlinearity added by the GVs to propagating waves, resulting in strong image artifacts from linear scatterers downstream of GV inclusions. To address this issue, we present an imaging paradigm, cross-amplitude modulation (xAM), which relies on cross-propagating plane-wave transmissions of finite aperture X waves to achieve quasi-artifact-free in vivo imaging of GVs. The xAM method derives from counterpropagating wave interaction theory, which predicts that, in media exhibiting quadratic elastic nonlinearity like biological tissue, the nonlinear interaction of counterpropagating acoustic waves is inefficient. By transmitting cross-propagating plane waves, we minimize cumulative nonlinear interaction effects due to collinear wave propagation while generating a transient wave-amplitude modulation at the two plane waves’ intersection. In both simulations and experiments, we show that residual xAM nonlinearity due to wave propagation decreases as the plane-wave cross-propagation angle increases. We demonstrate in tissue-mimicking phantoms that imaging artifacts distal to GV inclusions decrease as the plane-wave cross-propagation angle opens, nearing complete extinction at angles above 16.5 degrees. Finally, we demonstrate that xAM enables highly specific in vivo imaging of GVs located in the gastrointestinal tract, a target of prime interest for future cellular imaging. These results advance the physical facet of the emerging field of biomolecular ultrasound and are also relevant to synthetic ultrasound contrast agents

Venir de (+ infinitive):an immediate anteriority marker in French

This paper deals with the grammaticalization of venir into aspectual auxiliary of immediate anteriority, against the traditional approach (Gougenheim 1929/1971) according to which venir de + inf., would express recent past and so would be a temporal auxiliary. On the basis of the (revised) Reichenbachian model, it shows that venir de + inf. bears upon the relationship between R and E (aspect) and not on the relationship between R and S (time). This analysis allows explain why venir, in this periphrasis, is defective (i.e. why venir cannot be conjugated in the passé simple or in any compound tense)

Wafer-scale detachable monocrystalline Germanium nanomembranes for the growth of III-V materials and substrate reuse

Germanium (Ge) is increasingly used as a substrate for high-performance optoelectronic, photovoltaic, and electronic devices. These devices are usually grown on thick and rigid Ge substrates manufactured by classical wafering techniques. Nanomembranes (NMs) provide an alternative to this approach while offering wafer-scale lateral dimensions, weight reduction, limitation of waste, and cost effectiveness. Herein, we introduce the Porous germanium Efficient Epitaxial LayEr Release (PEELER) process, which consists of the fabrication of wafer-scale detachable monocrystalline Ge NMs on porous Ge (PGe) and substrate reuse. We demonstrate monocrystalline Ge NMs with surface roughness below 1 nm on top of nanoengineered void layer enabling layer detachment. Furthermore, these Ge NMs exhibit compatibility with the growth of III-V materials. High-resolution transmission electron microscopy (HRTEM) characterization shows Ge NMs crystallinity and high-resolution X-ray diffraction (HRXRD) reciprocal space mapping endorses high-quality GaAs layers. Finally, we demonstrate the chemical reconditioning process of the Ge substrate, allowing its reuse, to produce multiple free-standing NMs from a single parent wafer. The PEELER process significantly reduces the consumption of Ge during the fabrication process which paves the way for a new generation of low-cost flexible optoelectronics devices.Comment: 17 pages and 6 figures along with 3 figures in supporting informatio

Hyperoxemia and excess oxygen use in early acute respiratory distress syndrome : Insights from the LUNG SAFE study

Publisher Copyright: © 2020 The Author(s). Copyright: Copyright 2020 Elsevier B.V., All rights reserved.Background: Concerns exist regarding the prevalence and impact of unnecessary oxygen use in patients with acute respiratory distress syndrome (ARDS). We examined this issue in patients with ARDS enrolled in the Large observational study to UNderstand the Global impact of Severe Acute respiratory FailurE (LUNG SAFE) study. Methods: In this secondary analysis of the LUNG SAFE study, we wished to determine the prevalence and the outcomes associated with hyperoxemia on day 1, sustained hyperoxemia, and excessive oxygen use in patients with early ARDS. Patients who fulfilled criteria of ARDS on day 1 and day 2 of acute hypoxemic respiratory failure were categorized based on the presence of hyperoxemia (PaO2 > 100 mmHg) on day 1, sustained (i.e., present on day 1 and day 2) hyperoxemia, or excessive oxygen use (FIO2 ≥ 0.60 during hyperoxemia). Results: Of 2005 patients that met the inclusion criteria, 131 (6.5%) were hypoxemic (PaO2 < 55 mmHg), 607 (30%) had hyperoxemia on day 1, and 250 (12%) had sustained hyperoxemia. Excess FIO2 use occurred in 400 (66%) out of 607 patients with hyperoxemia. Excess FIO2 use decreased from day 1 to day 2 of ARDS, with most hyperoxemic patients on day 2 receiving relatively low FIO2. Multivariate analyses found no independent relationship between day 1 hyperoxemia, sustained hyperoxemia, or excess FIO2 use and adverse clinical outcomes. Mortality was 42% in patients with excess FIO2 use, compared to 39% in a propensity-matched sample of normoxemic (PaO2 55-100 mmHg) patients (P = 0.47). Conclusions: Hyperoxemia and excess oxygen use are both prevalent in early ARDS but are most often non-sustained. No relationship was found between hyperoxemia or excessive oxygen use and patient outcome in this cohort. Trial registration: LUNG-SAFE is registered with ClinicalTrials.gov, NCT02010073publishersversionPeer reviewe