Post-Dotcom IPOs In Germany: After Crisis Developments In Underpricing

After the dotcom-breakdown in 2000, German IPOs came to a sudden standstill and recovery took several years. Empirical evidence on German IPO activities so far focused mostly on the preceding new economy bubble. In contrast, this contribution aims at investigating the post-dotcom IPO market in Germany, using a sample of 182 IPOs between March 2002 and April 2011. The influences of private equity investors, underwriters and the market segment on the flotation are analyzed. Subsequently, driving factors of underpricing are identified. Our results indicate that especially offering characteristics affect underpricing. Furthermore, the companys age and the industry have a significant impact. Private equity investors, major underwriters and the market segment lost their empirically observable influence on underpricing. For the post-dotcom market environment, the results show a shift towards other hot-issue industries, a cooling down of investor sentiments and no significant reduction in ex-post uncertainty concerning new market segments

Influencing factors on specific energy consumption of EV in extensive operations

The sensitivities of electric vehicle (EV) energy consumption become significant when operating at long distances. This study analyzes these sensitivities based on empirical data of seven EV over 2.75 years with individual monthly mileages above 3,000 km and a specifically adopted energy consumption model. The results underline the influence of average speed, the distribution of speed and the auxiliaries as well as their opposing effects. It is demonstrated that the point of lowest specific energy consumption is not necessarily identical to the point where EV are most competitive compared to conventional internal combustion engine vehicles

Biochemical properties of attachment region binding protein ARBP

AbstractARBP (attachment region binding protein) is an abundant nuclear protein that specifically binds to matrix/scaffold attachment regions (MARs/SARs). Here we show by gel filtration and gradient sedimentation that ARBP has an elongated shape. The sedimentation coefficient was determined as only 2.1 S. Furthermore, limited proteolysis of ARBP in situ (in isolated nuclei) with several proteases generated limiting resistant peptides from 14.5 to 18 kDa, that retained the ability to bind MARs specifically. This indicates that these peptides encompass the DNA binding domain of ARBP

Time-Space Noncommutative Abelian Solitons

We demonstrate the construction of solitons for a time-space Moyal-deformed integrable U(n) sigma model (the Ward model) in 2+1 dimensions. These solitons cannot travel parallel to the noncommutative spatial direction. For the U(1) case, the rank-one single-soliton configuration is constructed explicitly and is singular in the commutative limit. The projection to 1+1 dimensions reduces it to a noncommutative instanton-like configuration. The latter is governed by a new integrable equation, which describes a Moyal-deformed sigma model with a particular Euclidean metric and a magnetic field.Comment: 1+10 page

Pattern of cause-specific childhood mortality in a malaria endemic area of Burkina Faso

BACKGROUND: Reliable mortality data are a prerequisite for planning health interventions, yet such data are often not available in developing countries, particularly in sub-Saharan Africa (SSA). Demographic surveillance systems (DSS) implementing the verbal autopsy (VA) method are the only possibility to observe cause-specific mortality of a population on a longitudinal basis in many countries. METHODS: This paper reports all-cause and cause-specific mortality rates in children under the age of five years from 1999 until 2003 in a malaria holoendemic area of north-western Burkina Faso. The DSS of the Nouna Health Research Centre, in which VA data were analysed, covers a rural population of about 30,000 (41 villages) and an urban population of about 25,000 (Nouna town). RESULTS: A total of 1,544 deaths were analysed, 87 (6%), 225 (14%), 317 (21%) and 915 (59%) of which occurred in the periods < 1 month, 1–5 months, 6–11 months and 1–4 years respectively. All cause mortality rates of children under five years were higher in the rural than the urban area (34 vs 24 per 1,000 person-years) and in the rainy than the dry season (35 vs 29 per 1,000 person-years). Malaria was the most frequent diagnosis (42%) with peak mortality rates in infants aged 6–11 months. CONCLUSION: Malaria is the most important cause of death in this remote area of SSA, even considering the low specificity of malaria diagnosis in young children. Strengthening the existing malaria control tools is of prime importance to reduce the high childhood mortality in the endemic areas of SSA

Empirical carbon dioxide emissions of electric vehicles in a French-German commuter fleet test

According to many governments electric vehicles are an efficient mean to mitigate carbon dioxide emissions in the transport sector. However, the energy charged causes carbon dioxide emissions in the energy sector. This study demonstrates results from measuring time-dependent electricity consumption of electric vehicles during driving and charging. The electric vehicles were used in a French-German commuter scenario between March 2013 and August 2013. The electric vehicles travelled a total distance of 38,365 kilometers. 639 individual charging events were recorded. Vehicle specific data on electricity consumption are matched to disaggregated electricity generation data with time dependent national electricity generation mixes and corresponding carbon dioxide emissions with an hourly time resolution. Carbon dioxide emission reduction potentials of different charging strategies are identified. As carbon dioxide emission intensities change over time according to the electric power systems, specific smart charging services are a convincing strategy to reduce electric vehicle specific carbon dioxide emissions. Our results indicate that charging in France causes only about ten percent of the carbon dioxide emissions compared to Germany, where the carbon intensity is more diverse

Iron Exports From Catchments Are Constrained by Redox Status and Topography

Fe(III) hydroxides stabilize organic carbon (OC) and P in soils. Observations of rising stream Fe concentrations are controversially posited to result from a flushing of iron-rich deeper soil layers or a decrease of competing electron acceptors inhibiting Fe reduction (NO3- and SO42-). Here, we argue that catchment topography constrains the release of Fe, OC, and P to streams. We therefore incubated organic topsoil and mineral subsoil and modified the availability of NO3-. We found that Fe leaching was highest in topsoil. Fe, OC, and P released at quantities proportional to their ratios in the source soil. Supply of NO3- reduced Fe leaching to 18% and increased pore water OC:Fe and P:Fe ratios. Subsoil, however, was an insignificant Fe source (<0.5%). Here, the leached quantities of Fe, OC and P were highly disproportionate to the soil source with an excess of released OC and P. We tested if experimental findings scale up using data from 88 German catchments representing gradients in NO3- concentration and topography. Average stream Fe concentrations increased with decreasing NO3- and were high in catchments with shallow topography where high groundwater levels support reductive processes and topsoils are hydrologically connected to streams; but Fe concentrations were low in catchments with steep topography where flow occurs primarily through subsoils. OC:Fe and P:Fe ratios in the streams similarly varied by NO3- and topography. This corroborates the findings from the laboratory experiment and suggests that catchment topography and competing electron acceptors constrain the formation of Fe-reducing conditions and control the release of Fe, OC, and P to streams. © 2022. The Authors