CONSCAN implementation for Antenna Control Assembly

The specifics of the CONSCAN, including calibration, signal cleanup, and system protection are presented. The CONSCAN was previously recommended for implementation in the antenna control assembly. Equations for programming the algorithms are provided. The described treatment is designed to lead to developing K-band. The recommended techniques to be employed in conjunction with CONSCAN are summarized: (1) for initial acquisition, employ stepped spiral search; (2) employ continued and incessant testing of signals to verify: in-lock, reasonable in level, and within limits; (3) use FFT for signal processing if feasible, as it provides more tests and insight into existence of glitches and spurious content of the input signal level

On the Analysis of Firms' Cash Flows

This paper revisits the whys and hows of cash flows analysis. The analysis maintains a strict common shareholders' perspective with an equity valuation focus. The paper argues that analysts turn to cash flows to evaluate the potential ambiguity inherent in accruals. The GAAP statement of cash flows, however, (i) relies on a too narrow concept of cash and (ii) lacks a clear bottom-line directly comparable to net income per GAAP. To circumvent (i) and (ii), the paper proposes a framework of Modified Cash Accounting (MCA). A MCA statement of cash earnings satisfies a crucial property: It works like a regular income statement yet eschews all accruals. The paper discusses not only how one motivates and develops a MCA statement of cash earnings, but also how it should be put to use. A crucial issue deals with how one compares the two bottom-lines -- GAAP income vs. that of MCA cash earnings -- given alternative growth scenarios. The paper shows how one can estimate a "normal accrual," which can be added to MCA cash earnings, given assumptions about the firm's growth

On the relevance of earnings components in valuation and forecasting

Pre-print also submitted to SSRN Archive. The final publication is available at Springer via http://dx.doi.org/ 10.1007/s11156-013-0347-yThis paper articulates the links between relevance of an earnings component in forecasting (abnormal) earnings and its relevance in valuation in a nonlinear framework. The analysis shows that forecasting relevance does not imply valuation relevance even though valuation irrelevance is implied by forecasting irrelevance. Firstly, I consider an accounting information system where earnings components "add up" to a fully informative earnings number. Secondly, I analyze two accounting systems where a "core" earnings component is the relevant earnings construct for valuation and the second earnings component is irrelevant but may be predictable and relevant in forecasting other accounting items. I find that dividend displacement effect on earnings and the dynamics of individual earnings components are critical in this analysis

Herd-level prevalence of Mycoplasma bovis in Swedish dairy herds determined by antibody ELISA and PCR on bulk tank milk and herd characteristics associated with seropositivity

Mycoplasma bovis is an important pathogen causing pneumonia, mastitis, and arthritis in cattle, leading to reduced animal welfare and economic losses worldwide. In this cross-sectional study, we investigated the prevalence of M. bovis in bulk tank milk (BTM) and herd characteristics associated with a positive antibody test result in Swedish dairy herds. Bulk tank milk samples from all Swedish dairy herds (n = 3,144) were collected and analyzed with ID Screen antibody ELISA and PCR. Information on herd characteristics was collected from the national Dairy Herd Improvement database. To identify herd characteristics associated with the presence of antibodies in BTM, logistic regression was used in 4 different models. The apparent herd-level prevalence of M. bovis infection based on antibodies in BTM was 4.8%, with large regional differences ranging from 0 to 20%. None of the BTM samples was positive by PCR. All the antibody-positive herds were situated in the south of Sweden. The logistic regression model showed that larger herds had higher odds of detectable antibodies in BTM (herd size >120 cows, odds ratio = 8.8). An association was also found between antibodies in BTM and both a higher late calf mortality (2–6 mo) and a higher young stock mortality (6–15 mo). This study showed a clear regional difference in the apparent prevalence of M. bovis infection based on antibodies. The relatively low prevalence of M. bovis in Sweden is a strong motivator for the cattle industry to take steps to prevent further spread of the infection. It is essential that the M. bovis status of free herds be known, and the regional differences shown in this study suggest that testing is highly recommended when live cattle from high-prevalence areas are being introduced into herds. We do not recommend using PCR on BTM to detect infected herds, owing to the low detection frequency in this study

Salmonella Pathogenesis and Processing of Secreted Effectors by Caspase-3

The enteric pathogen Salmonella enterica serovar Typhimurium causes food poisoning resulting in gastroenteritis. The S. Typhimurium effector Salmonella invasion protein A (SipA) promotes gastroenteritis by functional motifs that trigger either mechanisms of inflammation or bacterial entry. During infection of intestinal epithelial cells, SipA was found to be responsible for the early activation of caspase-3, an enzyme that is required for SipA cleavage at a specific recognition motif that divided the protein into its two functional domains and activated SipA in a manner necessary for pathogenicity. Other caspase-3 cleavage sites identified in S. Typhimurium appeared to be restricted to secreted effector proteins, which indicates that this may be a general strategy used by this pathogen for processing of its secreted effectors

Jets and jet-like correlations studies from STAR

I present recent results from jets and jet-like correlation measurements from STAR. The pp data are compared to those from Au-Au collisions to attempt to infer information on the medium produced and how hard scattered partons interact with this matter. Results from d-Au events are utilized to investigate the magnitude of cold nuclear matter effects on hard scatterings. The evolution of the underlying event from pp to d-Au collisions is studied. In heavy-ion collisions, background fluctuations are the major source of systematic uncertainties in jet measurements. Detailed studies are therefore being made of these fluctuations and recent progress in our understanding is reported. Jet and jet-hadron correlations results are presented and give clear indications that partonic fragmentation at RHIC is highly modified in the presence of a strongly coupled coloured medium, resulting in a significant broadening and softening of the jet fragments correlation. Finally di-hadron correlations utilizing identified particles as triggers indicate that the "ridge" is stronger for p+K than for pi but that the near-side peak per-trigger yield remains unaltered from d-Au to Au-Au collisions.Comment: Proceedings for QM201

Soil methane sink capacity response to a long-term wildfire chronosequence in Northern Sweden

Boreal forests occupy nearly one fifth of the terrestrial land surface and are recognised as globally important regulators of carbon (C) cycling and greenhouse gas emissions. Carbon sequestration processes in these forests include assimilation of CO2 into biomass and subsequently into soil organic matter, and soil microbial oxidation of methane (CH4). In this study we explored how ecosystem retrogression, which drives vegetation change, regulates the important process of soil CH4 oxidation in boreal forests. We measured soil CH4 oxidation processes on a group of 30 forested islands in northern Sweden differing greatly in fire history, and collectively representing a retrogressive chronosequence, spanning 5000 years. Across these islands the build-up of soil organic matter was observed to increase with time since fire disturbance, with a significant correlation between greater humus depth and increased net soil CH4 oxidation rates. We suggest that this increase in net CH4 oxidation rates, in the absence of disturbance, results as deeper humus stores accumulate and provide niches for methanotrophs to thrive. By using this gradient we have discovered important regulatory controls on the stability of soil CH4 oxidation processes that could not have not been explored through shorter-term experiments. Our findings indicate that in the absence of human interventions such as fire suppression, and with increased wildfire frequency, the globally important boreal CH4 sink could be diminished

Default Risk and Equity Returns: A Comparison of the Bank-Based German and the U.S. Financial System

In this paper, we address the question whether the impact of default risk on equity returns depends on the financial system firms operate in. Using an implementation of Merton's option-pricing model for the value of equity to estimate firms' default risk, we construct a factor that measures the excess return of firms with low default risk over firms with high default risk. We then compare results from asset pricing tests for the German and the U.S. stock markets. Since Germany is the prime example of a bank-based financial system, where debt is supposedly a major instrument of corporate governance, we expect that a systematic default risk effect on equity returns should be more pronounced for German rather than U.S. firms. Our evidence suggests that a higher firm default risk systematically leads to lower returns in both capital markets. This contradicts some previous results for the U.S. by Vassalou/Xing (2004), but we show that their default risk factor looses its explanatory power if one includes a default risk factor measured as a factor mimicking portfolio. It further turns out that the composition of corporate debt affects equity returns in Germany. Firms' default risk sensitivities are attenuated the more a firm depends on bank debt financing

Fair Value Hierarchy Measures: Post-Implementation Evidence on IFRS 7

Using a balance sheet valuation model, this study examines if information on the fair value hierarchy of on-balance sheet financial assets and financial liabilities are incorporated in the market’s valuation of companies’ equities in Singapore. The results of the study show significant associations between as-reported Level 1 and Level 2 fair value measures of financial assets and market values. However, the results are not significant for Level 3 fair value measures of financial assets and each of the three levels of fair value measures of financial liabilities. The results also show that returns are more positively associated with as-reported gains and losses from Level 1 and Level 2 fair value measures than those from Level 3 fair value measures. Overall, the evidence suggests that information on the fair value hierarchy of IFRS 7 Financial Instruments: Disclosures are used by market participants in their pricing decisions. The market however appears to place greater weights on fair value changes taken to the income statement than those taken to OCI, notwithstanding the level of the fair value measure. While the fixation with income statement measures remains a puzzle, the results are consistent with prior studies that show that investors largely ignore OCI in their pricing of shares