CAN MANDATORY DIVIDEND POLICY REDUCE THE AGENCY COST OF LISTED COMPANIES? MODEL ANALYSIS AND EMPIRICAL TEST IN CHINA

In this research, the mixed strategy complete information static game was adopted to explain the effect of mandatory dividend policy on agency cost, and Chinese mandatory dividend policy introduced in 2011was regarded as the institutional background, and whether mandatory dividend policy can reduce the agency cost of listed companies as an accidental impact was studied. Empirical test indicates that mandatory dividend policy significantly inhibits the agency cost of enterprises. Further research finds that the mandatory dividend policy has a better effect on reducing agency costs for the companies listed on the main board and those with normal dividends, while it has no significant effect on restraining agency costs for the companies with micro-dividends and small and medium-sized boards. The study supports the dividend agency cost theory and provides empirical evidence for the regulating departments to improve the follow-up policy of capital market governance

Tera-sample-per-second arbitrary waveform generation in the synthetic dimension

The synthetic dimension opens new horizons in quantum physics and topological photonics by enabling new dimensions for field and particle manipulations. The most appealing property of the photonic synthetic dimension is its ability to emulate high-dimensional optical behavior in a unitary physical system. Here we show that the photonic synthetic dimension can transform technical problems in photonic systems between dimensionalities, providing unexpected solutions to technical problems that are otherwise challenging. Specifically, we propose and experimentally demonstrate a photonic Galton board (PGB) in the temporal synthetic dimension, in which the temporal high-speed challenge is converted into a spatial fiber-optic length matching problem, leading to the experimental generation of tera-sample-per-second arbitrary waveforms. Limited by the speed of the measurement equipment, waveforms with sampling rates of up to 341.53 GSa/s are recorded. Our proposed PGB operating in the temporal synthetic dimension breaks the speed limit in a physical system, bringing arbitrary waveform generation into the terahertz regime. The concept of dimension conversion offers possible solutions to various physical dimension-related problems, such as super-resolution imaging, high-resolution spectroscopy, time measurement, etc

Cytoplasmic-genetic male sterility gene provides direct evidence for some hybrid rice recently evolving into weedy rice

Weedy rice infests paddy fields worldwide at an alarmingly increasing rate. There is substantial evidence indicating that many weedy rice forms originated from or are closely related to cultivated rice. There is suspicion that the outbreak of weedy rice in China may be related to widely grown hybrid rice due to its heterosis and the diversity of its progeny, but this notion remains unsupported by direct evidence. We screened weedy rice accessions by both genetic and molecular marker tests for the cytoplasmic male sterility (CMS) genes (Wild abortive, WA, and Boro type, BT) most widely used in the production of indica and japonica three-line hybrid rice as a diagnostic trait of direct parenthood. Sixteen weedy rice accessions of the 358 tested (4.5%) contained the CMS-WA gene; none contained the CMS-BT gene. These 16 accessions represent weedy rices recently evolved from maternal hybrid rice derivatives, given the primarily maternal inheritance of this trait. Our results provide key direct evidence that hybrid rice can be involved in the evolution of some weedy rice accessions, but is not a primary factor in the recent outbreak of weedy rice in China

Automated detection and classification of acute vertebral body fractures using a convolutional neural network on computed tomography

BackgroundAcute vertebral fracture is usually caused by low-energy injury with osteoporosis and high-energy trauma. The AOSpine thoracolumbar spine injury classification system (AO classification) plays an important role in the diagnosis and treatment of the disease. The diagnosis and description of vertebral fractures according to the classification scheme requires a great deal of time and energy for radiologists.PurposeTo design and validate a multistage deep learning system (multistage AO system) for the automatic detection, localization and classification of acute thoracolumbar vertebral body fractures according to AO classification on computed tomography.Materials and MethodsThe CT images of 1,217 patients who came to our hospital from January 2015 to December 2019 were collected retrospectively. The fractures were marked and classified by 2 junior radiology residents according to the type A standard in the AO classification. Marked fracture sites included the upper endplate, lower endplate and posterior wall. When there were inconsistent opinions on classification labels, the final result was determined by a director radiologist. We integrated different networks into different stages of the overall framework. U-net and a graph convolutional neural network (U-GCN) are used to realize the location and classification of the thoracolumbar spine. Next, a classification network is used to detect whether the thoracolumbar spine has a fracture. In the third stage, we detect fractures in different parts of the thoracolumbar spine by using a multibranch output network and finally obtain the AO types.ResultsThe mean age of the patients was 61.87 years with a standard deviation of 17.04 years, consisting of 760 female patients and 457 male patients. On vertebrae level, sensitivity for fracture detection was 95.23% in test dataset, with an accuracy of 97.93% and a specificity of 98.35%. For the classification of vertebral body fractures, the balanced accuracy was 79.56%, with an AUC of 0.904 for type A1, 0.945 for type A2, 0.878 for type A3 and 0.942 for type A4.ConclusionThe multistage AO system can automatically detect and classify acute vertebral body fractures in the thoracolumbar spine on CT images according to AO classification with high accuracy

Thermodynamic behavior of correlated electron-hole fluids in van der Waals heterostructures

Coupled two-dimensional electron-hole bilayers provide a unique platform to study strongly correlated Bose-Fermi mixtures in condensed matter. Electrons and holes in spatially separated layers can bind to form interlayer excitons, composite Bosons expected to support high-temperature exciton superfluids. The interlayer excitons can also interact strongly with excess charge carriers when electron and hole densities are unequal. Here, we use optical spectroscopy to quantitatively probe the local thermodynamic properties of strongly correlated electron-hole fluids in MoSe2/hBN/WSe2 heterostructures. We observe a discontinuity in the electron and hole chemical potentials at matched electron and hole densities, a definitive signature of an excitonic insulator ground state. The excitonic insulator is stable up to a Mott density of ~$0.8\times {10}^{12} \mathrm{cm}^{-2}$ and has a thermal ionization temperature of ~70 K. The density dependence of the electron, hole, and exciton chemical potentials reveals strong correlation effects across the phase diagram. Compared with a non-interacting uniform charge distribution, the correlation effects lead to significant attractive exciton-exciton and exciton-charge interactions in the electron-hole fluid. Our work highlights the unique quantum behavior that can emerge in strongly correlated electron-hole systems

<i>CP</i> Asymmetry in the Ξ Hyperon Sector

The Standard Model of particle physics has achieved great success in describing the fundamental particles and their interactions, but there are still some issues that have not been addressed yet. One of the key puzzles is to figure out why there is so much more matter than antimatter in the Universe, regarded as the CP asymmetry. The Ξ hyperon with strangeness S=−2, sometimes so-called the doubly-strange baryon, can provide key information to probe the asymmetry of the matter and antimatter. In this review, we discuss the studies of CP asymmetry in Ξ hyperon decay at E756, HyperCP and BESIII experiments

Intra- and inter-speaker variations of formant pattern for lateral syllables in Standard Chinese

Speech variation of speakers is a crucial issue for speaker recognition and identification, especially for forensic practice. Greater intra-speaker variation is one main reason for incorrect speaker identification in real forensic situations. Understanding the stability of acoustic parameters and their variation in speech is therefore significant for the evaluation of effective parameters for speaker identification. In this paper, all vowels in Standard Chinese including five monophthongs, eight diphthongs and four triphthongs were combined with lateral /l/. Finally, 15 lateral syllables with different tones for 10 speakers were selected and acoustically analyzed. Central frequencies of the first four formants for each syllable were measured for quantitative comparison of intra- and inter-speaker variation in order to provide a general idea of speaker variation in Standard Chinese, and finally serving for forensic application. Results show that the overall intra-speaker variation is less than the inter-speaker variation in great extent under laboratory condition though occasionally they are contrary. This supports the basis for forensic speaker identification, that is, intra-speaker variation should be less than inter-speaker variation in many acoustic features, and further validates the probability and reliability of forensic speaker identification