The Mutual Fund Industry and the Protection of Human Rights

This article considers the appropriate application of the United Nations Guiding Principles on Business and Human Rights (UNGP) to the mutual funds industry. Mutual funds can impact human rights by financially supporting oppressive states or abusive companies. Given the indirect nature of such impacts, along with the exclusively external management of the funds, this article argues that a unique approach to implementing the UNGP is necessary for this industry. Divided into five parts, the article outlines the governance structure of mutual funds and the expectations on states and businesses in the UNGP, before assessing the appropriateness of applying current guidance for banks and other financial actors to mutual funds. The article concludes with practical recommendations for both fund managers and states on the implementation of the UNGP in this industry

Models of magnetized neutron star atmospheres: thin atmospheres and partially ionized hydrogen atmospheres with vacuum polarization

Observed X-ray spectra of some isolated magnetized neutron stars display absorption features, sometimes interpreted as ion cyclotron lines. Modeling the observed spectra is necessary to check this hypothesis and to evaluate neutron star parameters.We develop a computer code for modeling magnetized neutron star atmospheres in a wide range of magnetic fields (10^{12} - 10^{15} G) and effective temperatures (3 \times 10^5 - 10^7 K). Using this code, we study the possibilities to explain the soft X-ray spectra of isolated neutron stars by different atmosphere models. The atmosphere is assumed to consist either of fully ionized electron-ion plasmas or of partially ionized hydrogen. Vacuum resonance and partial mode conversion are taken into account. Any inclination of the magnetic field relative to the stellar surface is allowed. We use modern opacities of fully or partially ionized plasmas in strong magnetic fields and solve the coupled radiative transfer equations for the normal electromagnetic modes in the plasma. Spectra of outgoing radiation are calculated for various atmosphere models: fully ionized semi-infinite atmosphere, thin atmosphere, partially ionized hydrogen atmosphere, or novel "sandwich" atmosphere (thin atmosphere with a hydrogen layer above a helium layer. Possibilities of applications of these results are discussed. In particular, the outgoing spectrum using the "sandwich" model is constructed. Thin partially ionized hydrogen atmospheres with vacuum polarization are shown to be able to improve the fit to the observed spectrum of the nearby isolated neutron star RBS 1223 (RX J1308.8+2127).Comment: Accepted for publications in Astronomy and Astrophysics, 9 pages, 12 figure

Radiative properties of highly magnetized isolated neutron star surfaces and approximate treatment of absorption features in their spectra

In the X-ray spectra of most X-ray dim isolated neutron stars (XDINSs) absorption features with equivalent widths (EWs) of 50 -- 200 eV are observed. We theoretically investigate different models to explain absorption features and compare their properties with the observations. We consider various theoretical models for the magnetized neutron star surface: naked condensed iron surfaces and partially ionized hydrogen model atmospheres, including semi-infinite and thin atmospheres above a condensed surface. The properties of the absorption features (especially equivalent widths) and the angular distributions of the emergent radiation are described for all models. A code for computing light curves and integral emergent spectra of magnetized neutron stars is developed. We assume a dipole surface magnetic field distribution with a possible toroidal component and corresponding temperature distribution. A model with two uniform hot spots at the magnetic poles can also be employed. Light curves and spectra of highly magnetized neutron stars with parameters typical for XDINSs are computed using different surface temperature distributions and various local surface models. Spectra of magnetized model atmospheres are approximated by diluted blackbody spectra with one or two Gaussian lines having parameters, which allow us to describe the model absorption features. To explain the prominent absorption features in the soft X-ray spectra of XDINSs a thin atmosphere above the condensed surface can be invoked, whereas a strong toroidal magnetic field component on the XDINS surfaces can be excluded.Comment: 54 pages, 17 figures, accepted for publication in A&

Supermassive black holes do not correlate with dark matter halos of galaxies

Supermassive black holes have been detected in all galaxies that contain bulge components when the galaxies observed were close enough so that the searches were feasible. Together with the observation that bigger black holes live in bigger bulges, this has led to the belief that black hole growth and bulge formation regulate each other. That is, black holes and bulges "coevolve". Therefore, reports of a similar correlation between black holes and the dark matter halos in which visible galaxies are embedded have profound implications. Dark matter is likely to be nonbaryonic, so these reports suggest that unknown, exotic physics controls black hole growth. Here we show - based in part on recent measurements of bulgeless galaxies - that there is almost no correlation between dark matter and parameters that measure black holes unless the galaxy also contains a bulge. We conclude that black holes do not correlate directly with dark matter. They do not correlate with galaxy disks, either. Therefore black holes coevolve only with bulges. This simplifies the puzzle of their coevolution by focusing attention on purely baryonic processes in the galaxy mergers that make bulges.Comment: 12 pages, 9 Postscript figures, 1 table; published in Nature (20 January 2011

A Study of the Direct-Fitting Method for Measurement of Galaxy Velocity Dispersions

We have measured the central stellar velocity dispersions of 33 nearby spiral and elliptical galaxies, using a straightforward template-fitting algorithm operating in the pixel domain. The spectra, obtained with the Double Spectrograph at Palomar Observatory, cover both the Ca triplet and the Mg b region, and we present a comparison of the velocity dispersion measurements from these two spectral regions. Model fits to the Ca triplet region generally yield good results with little sensitivity to the choice of template star. In contrast, the Mg b region is more sensitive to template mismatch and to details of the fitting procedure such as the order of a polynomial used to match the continuum shape of the template to the object. As a consequence of the correlation of the [Mg/Fe] ratio with velocity dispersion, it is difficult to obtain a satisfactory model fit to the Mg b lines and the surrounding Fe blends simultaneously, particularly for giant elliptical galaxies with large velocity dispersions. We demonstrate that if the metallicities of the galaxy and template star are not well matched, then direct template-fitting results are improved if the Mg b lines themselves are excluded from the fit and the velocity dispersion is determined from the surrounding weaker lines.Comment: 14 pages. To appear in A

"Cultural additivity" and how the values and norms of Confucianism, Buddhism, and Taoism co-exist, interact, and influence Vietnamese society: A Bayesian analysis of long-standing folktales, using R and Stan

Every year, the Vietnamese people reportedly burned about 50,000 tons of joss papers, which took the form of not only bank notes, but iPhones, cars, clothes, even housekeepers, in hope of pleasing the dead. The practice was mistakenly attributed to traditional Buddhist teachings but originated in fact from China, which most Vietnamese were not aware of. In other aspects of life, there were many similar examples of Vietnamese so ready and comfortable with adding new norms, values, and beliefs, even contradictory ones, to their culture. This phenomenon, dubbed "cultural additivity", prompted us to study the co-existence, interaction, and influences among core values and norms of the Three Teachings--Confucianism, Buddhism, and Taoism--as shown through Vietnamese folktales. By applying Bayesian logistic regression, we evaluated the possibility of whether the key message of a story was dominated by a religion (dependent variables), as affected by the appearance of values and anti-values pertaining to the Three Teachings in the story (independent variables).Comment: 8 figures, 35 page