Effect of large mountain ranges on atmospheric flow patterns as seen from TIROS satellites

Includes bibliographical references

Country characteristics and the incidence of capital income taxation on wages: an empirical assessment

This paper examines the incidence of corporate income taxes on wages using data from the US Bureau of Labor Statistics for 13 OECD countries. Within a wage-bargaining framework, our econometric analysis shows that a substantial share of the corporate tax burden is shifted from capital to labour. However, the magnitude of this shift is influenced importantly by country characteristics affecting the process of wage determination, such as the degree of capital mobility, a country's relative influence over the world price of output and trade unions’ strength

Rational Herding in Microloan Markets

Microloan markets allow individual borrowers to raise funding from multiple individual lenders. We use a unique panel data set that tracks the funding dynamics of borrower listings on Prosper.com, the largest microloan market in the United States. We find evidence of rational herding among lenders. Well-funded borrower listings tend to attract more funding after we control for unobserved listing heterogeneity and payoff externalities. Moreover, instead of passively mimicking their peers (irrational herding), lenders engage in active observational learning (rational herding); they infer the creditworthiness of borrowers by observing peer lending decisions and use publicly observable borrower characteristics to moderate their inferences. Counterintuitively, obvious defects (e.g., poor credit grades) amplify a listing's herding momentum, as lenders infer superior creditworthiness to justify the herd. Similarly, favorable borrower characteristics (e.g., friend endorsements) weaken the herding effect, as lenders attribute herding to these observable merits. Follow-up analysis shows that rational herding beats irrational herding in predicting loan performance

The effect of carbon dissemination on cost of equity

This study examines whether firms can influence their cost of equity (COE) by broadly disseminating their carbon information over Twitter. We study firms' dissemination decisions of carbon information by developing a comprehensive measure of carbon information that a firm makes on Twitter, referred to as iCarbon . Using a sample of 1,737 firm‐year observations for 584 nonfinancial firms with a Twitter account and listed on the U.S. NASDAQ stock exchange over the period 2009–2015, we find that iCarbon is significantly and negatively associated with COE. Our results are consistent after determining the effect of Bloomberg's environmental and environmental, social, and governance disclosure. The findings also hold when using alternative measures of COE and iCarbon

Surface and lightning sources of nitrogen oxides over the United States: Magnitudes, chemical evolution, and outflow

We use observations from two aircraft during the ICARTT campaign over the eastern United States and North Atlantic during summer 2004, interpreted with a global 3-D model of tropospheric chemistry (GEOS-Chem) to test current understanding of regional sources, chemical evolution, and export of NOx. The boundary layer NOx data provide top-down verification of a 50% decrease in power plant and industry NOx emissions over the eastern United States between 1999 and 2004. Observed NOx concentrations at 8–12 km altitude were 0.55 ± 0.36 ppbv, much larger than in previous U.S. aircraft campaigns (ELCHEM, SUCCESS, SONEX) though consistent with data from the NOXAR program aboard commercial aircraft. We show that regional lightning is the dominant source of this upper tropospheric NOx and increases upper tropospheric ozone by 10 ppbv. Simulating ICARTT upper tropospheric NOx observations with GEOS-Chem requires a factor of 4 increase in modeled NOx yield per flash (to 500 mol/ flash). Observed OH concentrations were a factor of 2 lower than can be explained from current photochemical models, for reasons that are unclear. A NOy-CO correlation analysis of the fraction f of North American NOx emissions vented to the free troposphere as NOy (sum of NOx and its oxidation products) shows observed f = 16 ± 10% and modeled f = 14 ± 9%, consistent with previous studies. Export to the lower free troposphere is mostly HNO3 but at higher altitudes is mostly PAN. The model successfully simulates NOy export efficiency and speciation, supporting previous model estimates of a large U.S. anthropogenic contribution to global tropospheric ozone through PAN export

Phase segregation in NaxCoO2 for large Na contents

We have investigated a set of sodium cobaltates (NaxCoO2) samples with various sodium content (0.67 \le x \le 0.75) using Nuclear Quadrupole Resonance (NQR). The four different stable phases and an intermediate one have been recognized. The NQR spectra of 59Co allowed us to clearly differentiate the pure phase samples which could be easily distinguished from multi-phase samples. Moreover, we have found that keeping samples at room temperature in contact with humid air leads to destruction of the phase purity and loss of sodium content. The high sodium content sample evolves progressively into a mixture of the detected stable phases until it reaches the x=2/3 composition which appears to be the most stable phase in this part of phase diagram.Comment: 5 pages, 4 figure

The Secret to Successful User Communities: An Analysis of Computer Associates’ User Groups

This paper provides the first large scale study that examines the impact of both individual- and group-specific factors on the benefits users obtain from their user communities. By empirically analysing 924 survey responses from individuals in 161 Computer Associates' user groups, this paper aims to identify the determinants of successful user communities. To measure success, the amount of time individual members save through having access to their user networks is used. As firms can significantly profit from successful user communities, this study proposes four key implications of the empirical results for the management of user communities

Effects of family control on the degree and type of diversification: empirical evidence for business groups

This article analyzes the impact of ownership structure on corporate diversification,with reference to large listed family business groups. By considering agency theoryand socioemotional wealth, the study examines the relationship between family own-ership, concentration of ownership, and degree and type of diversification. The studyconsiders 99 Spanish listed business groups (50 family-controlled- and 49 nonfamily-controlled groups) and considers diversification of business group as the focus ofanalysis. The results show how family business groups present a lower preference forunrelated diversification than related diversification. There is also a nonlinear rela-tionship between the concentration of ownership in family groups and the degree ofdiversification, showing different behaviors in family groups according to sharesowned by the family's leading shareholders. This article contributes to the literatureby providing a more precise identification of the corporate strategy adopted by busi-ness groups and establishing new evidence about the impact of family control ondiversification strategies and the differences regarding nonfamily business groups

Political Regimes and Sovereign Credit Risk in Europe, 1750-1913

This article uses a new panel data set to perform a statistical analysis of political regimes and sovereign credit risk in Europe from 1750 to 1913. Old Regime polities typically suffered from fiscal fragmentation and absolutist rule. By the start of World War I, however, many such countries had centralized institutions and limited government. Panel regressions indicate that centralized and?or limited regimes were associated with significant improvements in credit risk relative to fragmented and absolutist ones. Structural break tests also reveal close relationships between major turning points in yield series and political transformations

From Farm to Kitchen : How gender affects production diversity and the dietary intake of farm households in Ethiopia

Open Access via the Wiley Jisc Open Access Agreement. We would like to acknowledge the World Bank LSMS-ISA and Central Statistical Authority (CSA) of Ethiopia for making these data available for the public and Macaulay Development Trust (MDT) for the financial support. Euan Phimister also acknowledges support under the ESRC NEXUS programme in project IEAS/POO2501/1, Improving organic resource use in rural Ethiopia (IPORE). Deborah Roberts acknowledges the support of funding from the Scottish Government's Rural and Environment Science and Analytical Services Division(RESAS). Our thanks are also due to anonymous reviewers for their constructive comments on earlier versions of the paper.Peer reviewedPublisher PD