Leverage, Investment, and Firm Growth

We show that there is a negative relation between leverage and future growth at the firm level and, for diversified firms, at the segment level. Further, this negative relation between leverage and growth holds for firms with low Tobin's q, but not for high-q firms or firms in high-q industries. Therefore, leverage does not reduce growth for firms known to have good investment opportunities, but is negatively related to growth for firms whose growth opportunities are either not recognized by the capital markets or are not sufficiently valuable to overcome the effects of their debt overhang.

PTF 10bzf (SN 2010ah): A Broad-Line Ic Supernova Discovered by the Palomar Transient Factory

We present the discovery and follow-up observations of a broad-line Type Ic supernova (SN), PTF 10bzf (SN 2010ah), detected by the Palomar Transient Factory (PTF) on 2010 February 23. The SN distance is ≅218 Mpc, greater than GRB 980425/SN 1998bw and GRB 060218/SN 2006aj, but smaller than the other SNe firmly associated with gamma-ray bursts (GRBs). We conducted a multi-wavelength follow-up campaign with Palomar 48 inch, Palomar 60 inch, Gemini-N, Keck, Wise, Swift, the Allen Telescope Array, Combined Array for Research in Millimeter-wave Astronomy, Westerbork Synthesis Radio Telescope, and Expanded Very Large Array. Here we compare the properties of PTF 10bzf with those of SN 1998bw and other broad-line SNe. The optical luminosity and spectral properties of PTF 10bzf suggest that this SN is intermediate, in kinetic energy and amount of ^(56)Ni, between non-GRB-associated SNe like 2002ap or 1997ef, and GRB-associated SNe like 1998bw. No X-ray or radio counterpart to PTF 10bzf was detected. X-ray upper limits allow us to exclude the presence of an underlying X-ray afterglow as luminous as that of other SN-associated GRBs such as GRB 030329 or GRB 031203. Early-time radio upper limits do not show evidence for mildly relativistic ejecta. Late-time radio upper limits rule out the presence of an underlying off-axis GRB, with energy and wind density similar to the SN-associated GRB 030329 and GRB 031203. Finally, by performing a search for a GRB in the time window and at the position of PTF 10bzf, we find that no GRB in the interplanetary network catalog could be associated with this SN

SDSS J131339.98+515128.3: A new gravitationally lensed quasar selected based on near-infrared excess

We report the discovery of a new gravitationally lensed quasar, SDSS J131339.98+515128.3, at a redshift of 1.875 with an image separation of 1.24". The lensing galaxy is clearly detected in visible-light follow-up observations. We also identify three absorption-line doublets in the spectra of the lensed quasar images, from which we measure the lens redshift to be 0.194. Like several other known lenses, the lensed quasar images have different continuum slopes. This difference is probably the result of reddening and microlensing in the lensing galaxy. The lensed quasar was selected by correlating Sloan Digital Sky Survey (SDSS) spectroscopic quasars with Two Micron All Sky Survey (2MASS) sources and choosing quasars that show near-infrared (IR) excess. The near-IR excess can originate, for example, from the contribution of the lensing galaxy at near-IR wavelengths. We show that the near-IR excess technique is indeed an efficient method to identify lensed systems from a large sample of quasars.Comment: Accepted to MNRAS, 8 pages, 7 figure

Probing the Intergalactic Medium with Fast Radio Bursts

The recently discovered fast radio bursts (FRBs), presumably of extra-galactic origin, have the potential to become a powerful probe of the intergalactic medium (IGM). We point out a few such potential applications. We provide expressions for the dispersion measure and rotation measure as a function of redshift, and we discuss the sensitivity of these measures to the HeII reionization and the IGM magnetic field. Finally we calculate the microlensing effect from an isolate, extragalctic stellar-mass compact object on the FRB spectrum. The time delays between the two lensing images will induce constructive and destructive interference, leaving a specific imprint on the spectra of FRBs. With a high all-sky rate, a large statistical sample of FRBs is expected to make these applications feasible.Comment: 4 pages, 1 figure; Typos for the variable x in Eq.6 corrected; Published in ApJ; Originally the Appendix E of arXiv:1402.4766; Separated from the main paper upon the referee's reques

Real-time Detection and Rapid Multiwavelength Follow-up Observations of a Highly Subluminous Type II-P Supernova from the Palomar Transient Factory Survey

The Palomar Transient Factory (PTF) is an optical wide-field variability survey carried out using a camera with a 7.8 deg^2 field of view mounted on the 48 inch Oschin Schmidt telescope at Palomar Observatory. One of the key goals of this survey is to conduct high-cadence monitoring of the sky in order to detect optical transient sources shortly after they occur. Here, we describe the real-time capabilities of the PTF and our related rapid multiwavelength follow-up programs, extending from the radio to the γ-ray bands. We present as a case study observations of the optical transient PTF10vdl (SN 2010id), revealed to be a very young core-collapse (Type II-P) supernova having a remarkably low luminosity. Our results demonstrate that the PTF now provides for optical transients the real-time discovery and rapid-response follow-up capabilities previously reserved only for high-energy transients like gamma-ray bursts