The Earnings Quality Consequences of Announcements to Voluntarily Adopt the Fair Value Method of Accounting for Stock-Based Compensation

We identify 133 firms that between July and December 2002, announced plans to voluntarily adopt the fair value method of accounting for stock-based compensation. We investigate whether such announcements increased the quality of these firms’ earnings as perceived by market participants. Answering this research question not only provides evidence relevant to the debate surrounding the expensing of employee stock options, but doing so provides evidence that conservative accounting choices in general lead to higher perceived earnings quality. Using two measures of earnings quality, the price-earnings relation and the earnings response coefficient, we find evidence consistent with an increase in perceived earnings quality for these firms relative to a control set of firms that in 2002 did not announce plans to adopt the SFAS 123 stock-based compensation recognition provisions.SFAS, stock options, accounting, expensing options, fair value method

AN EXPERIMENTAL ECONOMICS APPROACH TO ANALYZING PRICE DISCOVERY IN FORWARD AND SPOT MARKETS

Laboratory experiments are used to generate data that facilitate investigation of pricing behavior in forward and spot markets. Results suggest a tendency for prices in a spot market to converge to levels higher than those in a forward market. The difference in these market environments is the supply schedule. Buyers in a spot market are aware that supply is inelastic and become relatively aggressive bidders. Forward markets have a relatively elastic supply schedule and buyers fare better. This may motivate firms to promote forward markets and/or vertically integrate in the procurement of inputs.Experimental economics, Forward market, Price discovery, Spot market, Marketing,

SiGe HBT X-Band LNAs for Ultra-Low-Noise Cryogenic Receivers

We report results on the cryogenic operation of two different monolithic X-band silicon-germanium (SiGe) heterojunction bipolar transistor low noise amplifiers (LNAs) implemented in a commercially-available 130 nm SiGe BiCMOS platform. These SiGe LNAs exhibit a dramatic reduction in noise temperature with cooling, yielding Teff of less than 21 K (0.3 dB noise figure) across X-band at a 15 K operating temperature. To the authors’ knowledge, these SiGe LNAs exhibit the lowest broadband noise of any Si-based LNA reported to date

Addressing the Complexities of Creating an Inclusive Campus for Transgender People (Conference Paper)

Making transgender people feel accepted into the campus community goes beyond educational programs to encourage inclusion. The process should also include many institutional facets from IT to housing. This paper examines the changes made or in the process of being addressed at a regional public university in Arkansas