The Endogeneity Bias in the Relation Between Cost-of-Debt Capital and Corporate Disclosure Policy

The purpose of this paper is twofold.First, we provide a discussion of the problems associated with endogeneity in empirical accounting research.We emphasize problems arising when endogeneity is caused by (1) unobservable firm specific factors and (2) omitted variables and discuss the merits and drawbacks of using panel data techniques to address these causes.Second, we investigate the magnitude of endogeneity bias in Ordinary Least Squares regressions of cost-of-debt capital on firm disclosure policy.We document how including a set of variables which theory suggests to be related with both cost-of-debt capital and disclosure and using fixed effects estimation in a panel dataset reduces the endogeneity bias and produces consistent results.This analysis reveals that the effect of disclosure policy on cost-of-debt capital is 200% higher than what is found in Ordinary Least Squares estimation.Finally, we provide direct evidence that disclosure is impacted by unobservable firm-specific factors that are also correlated with cost-of-capital.Disclosure policy;cost-of-debt capital;endogeneity

Magnetization of noncircular quantum dots

We calculate the magnetization of quantum dots deviating from circular symmetry for noninteracting electrons or electrons interacting according to the Hartree approximation. For few electrons the magnetization is found to depend on their number, and the shape of the dot. The magnetization is an ideal probe into the many-electron state of a quantum dot.Comment: 11 RevTeX pages with 6 included Postscript figure

Periodic Chaotic Billiards: Quantum-Classical Correspondence in Energy Space

We investigate the properties of eigenstates and local density of states (LDOS) for a periodic 2D rippled billiard, focusing on their quantum-classical correspondence in energy representation. To construct the classical counterparts of LDOS and the structure of eigenstates (SES), the effects of the boundary are first incorporated (via a canonical transformation) into an effective potential, rendering the one-particle motion in the 2D rippled billiard equivalent to that of two-interacting particles in 1D geometry. We show that classical counterparts of SES and LDOS in the case of strong chaotic motion reveal quite a good correspondence with the quantum quantities. We also show that the main features of the SES and LDOS can be explained in terms of the underlying classical dynamics, in particular of certain periodic orbits. On the other hand, statistical properties of eigenstates and LDOS turn out to be different from those prescribed by random matrix theory. We discuss the quantum effects responsible for the non-ergodic character of the eigenstates and individual LDOS that seem to be generic for this type of billiards with a large number of transverse channels.Comment: 13 pages, 18 figure

Silicon Atomic Quantum Dots Enable Beyond-CMOS Electronics

We review our recent efforts in building atom-scale quantum-dot cellular automata circuits on a silicon surface. Our building block consists of silicon dangling bond on a H-Si(001) surface, which has been shown to act as a quantum dot. First the fabrication, experimental imaging, and charging character of the dangling bond are discussed. We then show how precise assemblies of such dots can be created to form artificial molecules. Such complex structures can be used as systems with custom optical properties, circuit elements for quantum-dot cellular automata, and quantum computing. Considerations on macro-to-atom connections are discussed.Comment: 28 pages, 19 figure

Electron Spin for Classical Information Processing: A Brief Survey of Spin-Based Logic Devices, Gates and Circuits

In electronics, information has been traditionally stored, processed and communicated using an electron's charge. This paradigm is increasingly turning out to be energy-inefficient, because movement of charge within an information-processing device invariably causes current flow and an associated dissipation. Replacing charge with the "spin" of an electron to encode information may eliminate much of this dissipation and lead to more energy-efficient "green electronics". This realization has spurred significant research in spintronic devices and circuits where spin either directly acts as the physical variable for hosting information or augments the role of charge. In this review article, we discuss and elucidate some of these ideas, and highlight their strengths and weaknesses. Many of them can potentially reduce energy dissipation significantly, but unfortunately are error-prone and unreliable. Moreover, there are serious obstacles to their technological implementation that may be difficult to overcome in the near term. This review addresses three constructs: (1) single devices or binary switches that can be constituents of Boolean logic gates for digital information processing, (2) complete gates that are capable of performing specific Boolean logic operations, and (3) combinational circuits or architectures (equivalent to many gates working in unison) that are capable of performing universal computation.Comment: Topical Revie

Comparative descriptions of eggs from three species of Rhodnius (Hemiptera: Reduviidae: Triatominae)

The authors describe and compare the morphological and ultrastructural characteristics of eggs from the three most recent described species of the genus Rhodnius Stål, 1859, which have not previously been studied. These species are Rhodnius colombiensis (Mejia, Galvão & Jurberg 1999), Rhodnius milesi (Carcavallo, Rocha, Galvão & Jurberg 2001) and Rhodnius stali (Lent, Jurberg & Galvão 1993). The results revealed that there are similarities in the exochorial architecture of optical microscopy and scanning electron microscopy; these include the predominance of hexagonal cells that are common to all Rhodnius species and variable degrees of lateral flattening, which is common not only to species of this genus, but also to the Rhodniini tribe. Differences in overall colour, the presence of a collar in R. milesi, a longitudinal bevel in R. stali and the precise length of R. colombiensis can be useful distinguishing features. As a result of this study, the key for egg identification proposed by Barata in 1981 can be updated.European Community - Chagas Disease Intervention ActivitiesCNPqCoordenacao de Aperfeicoamento de Pessoal de Nivel Superior (CAPES

Bias-voltage dependence of the magneto-resistance in ballistic vacuum tunneling: Theory and application to planar Co(0001) junctions

Motivated by first-principles results for jellium and by surface-barrier shapes that are typically used in electron spectroscopies, the bias voltage in ballistic vacuum tunneling is treated in a heuristic manner. The presented approach leads in particular to a parameterization of the tunnel-barrier shape, while retaining a first-principles description of the electrodes. The proposed tunnel barriers are applied to Co(0001) planar tunnel junctions. Besides discussing main aspects of the present scheme, we focus in particular on the absence of the zero-bias anomaly in vacuum tunneling.Comment: 19 pages with 8 figure