He Said, She Said: Investor Reactions to CEO Gender and Earnings Guidance Disclosure in the Presence of Shareholder Activism

This study addresses concerns from the SEC and examines the trend of shareholder activism and its impact on financial players. Specifically, I examine how the nature of the shareholder activism (Profitability-focused versus Environmental/Social-focused) interacts with CEO gender to create perceptions of match or mismatch within nonprofessional investors, in terms of perceived ability to address the shareholder activism. Drawing on role-congruity theory, I predict and find that when a perceived match exists, investment willingness is increased, with the greatest differences occurring when the CEO does not disclose earnings guidance information. Given recent trends that show increased disclosure of earnings guidance in companies threatened by shareholder activism, I examine how this type of disclosure impacts investor judgments. I find that when managers’ optimistic forecasts differ from consensus analyst estimates, this creates an incongruent message and attenuates the heuristic processing associated with the perceived CEO gender-activism match. Additionally, I find evidence that earnings guidance disclosure has a stronger impact on perceptions of female CEOs than male CEOs. Finally, I find that this effect is seen under various types of forecasts (point and range), suggesting that both types of forecasts are capable of acting as incongruent messages to motivate systematic processing

The promise of fuel cell-based automobiles

Fuel cell-based automobiles have gained attention in the last few years due to growing public concern about urban air pollution and consequent environmental problems. From an analysis of the power and energy requirements of a modern car, it is estimated that a base sustainable power of ca. 50 kW supplemented with short bursts up to 80 kW will suffice in most driving requirements. The energy demand depends greatly on driving characteristics but under normal usage is expected to be 200 Wh/km. The advantages and disadvantages of candidate fuel-cell systems and various fuels are considered together with the issue of whether the fuel should be converted directly in the fuel cell or should be reformed to hydrogen onboard the vehicle. For fuel cell vehicles to compete successfully with conventional internal-combustion engine vehicles, it appears that direct conversion fuel cells using probably hydrogen, but possibly methanol, are the only realistic contenders for road transportation applications. Among the available fuel cell technologies, polymer-electrolyte fuel cells directly fueled with hydrogen appear to be the best option for powering fuel cell vehicles as there is every prospect that these will exceed the performance of the internal-combustion engine vehicles but for their first cost. A target cost of $ 50/kW would be mandatory to make polymer-electrolyte fuel cells competitive with the internal combustion engines and can only be achieved with design changes that would substantially reduce the quantity of materials used. At present, prominent car manufacturers are deploying important research and development efforts to develop fuel cell vehicles and are projecting to start production by 2005

Tissue Glycogen and Extracellular Buffering Limit the Survival of Red-Eared Slider Turtles during Anoxic Submergence at 3°C

The goal of this study was to identify the factors that limit the survival of the red-eared slider turtle Trachemys scripta during long-term anoxic submergence at 3°C. We measured blood acid-base status and tissue lactate and glycogen contents after 13, 29, and 44 d of submergence from ventricle, liver, carapace (lactate only), and four skeletal muscles. We also measured plasma Ca2+, Mg2+, Na+, K+, Cl-, inorganic phosphate (Pi), lactate, and glucose. After 44 d, one of the six remaining turtles died, while the other turtles were in poor condition and suffered from a severe acidemia (blood pH = 7.09 from 7.77) caused by lactic acidosis (plasma lactate 91.5 mmol L-1). An initial respiratory acidosis attenuated after 28 d. Lactate rose to similar concentrations in ventricle and skeletal muscle (39.3–46.1 μmol g-1). Liver accumulated the least lactate (21.8 μmol g-1), and carapace accumulated the most lactate (68.9 μmol g-1). Plasma Ca2+ and Mg2+ increased significantly throughout submergence to levels comparable to painted turtles at a similar estimated lactate load. Glycogen depletion was extensive in all tissues tested: by 83% in liver, by 90% in ventricle, and by 62%–88% in muscle. We estimate that the shell buffered 69.1% of the total lactate load, which is comparable to painted turtles. Compared with painted turtles, predive tissue glycogen contents and plasma HCO3- concentrations were low.We believe these differences contribute to the poorer tolerance to long-term anoxic submergence in red-eared slider turtles compared with painted turtles

Lieb Mode in a Quasi One-Dimensional Bose-Einstein Condensate of Atoms

We calculate the dispersion relation associated with a solitary wave in a quasi-one-dimensional Bose-Einstein condensate of atoms confined in a harmonic, cylindrical trap in the limit of weak and strong interactions. In both cases, the dispersion relation is linear for long wavelength excitations and terminates at the point where the group velocity vanishes. We also calculate the dispersion relation of sound waves in both limits of weak and strong coupling.Comment: 4 pages, 2 ps figures, RevTe

Two-interface and thin filament approximation in Hele--Shaw channel flow

For a viscous fluid trapped in a Hele--Shaw channel, and pushed by a pressure difference, the fluid interface is unstable due to the Saffman--Taylor instability. We consider the evolution of a fluid region of finite extent, bounded between two interfaces, in the limit the interfaces are close, that is, when the fluid region is a thin liquid filament separating two gases of different pressure. In this limit, we derive a geometric flow rule that describes the normal velocity of the filament centreline, and evolution of the filament thickness, as functions of the thickness and centreline curvature. We show that transverse flow along the filament is necessary to regularise the instability. Numerical simulation of the thin filament flow rule is shown to closely match level-set computations of the complete two-interface model, and solutions ultimately evolve to form a bubble of increasing radius and decreasing thickness

Faking like a woman? Towards an interpretative theorization of sexual pleasure.

This article explores the possibility of developing a feminist approach to gendered and sexual embodiment which is rooted in the pragmatist/interactionist tradition derived from G.H. Mead, but which in turn develops this perspective by inflecting it through more recent feminist thinking. In so doing we seek to rebalance some of the rather abstract work on gender and embodiment by focusing on an instance of 'heterosexual' everyday/night life - the production of the female orgasm. Through engaging with feminist and interactionist work, we develop an approach to embodied sexual pleasure that emphasizes the sociality of sexual practices and of reflexive sexual selves. We argue that sexual practices and experiences must be understood in social context, taking account of the situatedness of sex as well as wider socio-cultural processes the production of sexual desire and sexual pleasure (or their non-production) always entails interpretive, interactional processes

Solitary waves in clouds of Bose-Einstein condensed atoms

We consider the conditions under which solitary waves can exist in elongated clouds of Bose-Einstein condensed atoms. General expressions are derived for the velocity, characteristic size, and spatial profile of solitary waves, and the low- and high-density limits are examined.Comment: 6 pages, revtex, 1 ps figur

Research frontiers in the analysis of coupled biogeochemical cycles

Author Posting. © Ecological Society of America, 2011. This article is posted here by permission of Ecological Society of America for personal use, not for redistribution. The definitive version was published in Frontiers in Ecology and the Environment 9 (2011): 74–80, doi:10.1890/100137.The analysis of coupled biogeochemical cycles (CBCs) addresses the scientific basis for some of today's major environmental problems. Drawing from information presented at a series of sessions on CBCs held at the 2009 Annual Meeting of the Ecological Society of America and from the research community's expertise, we identify several principal research themes that justify action and investment. Critical areas for research include: coupling of major element cycles to less studied yet equally important trace element cycles; analyzing CBCs across ecosystem boundaries; integrating experimental results into regional- and global-scale models; and expanding the analysis of human interactions with CBCs arising from human population growth, urbanization, and geoengineering. To advance the current understanding of CBCs and to address the environmental challenges of the 21st century, scientists must maintain and synthesize data from existing observational and experimental networks, develop new instrumentation networks, and adopt emerging technologies.We thank the National Science Foundation (NSF) and the Ecological Society of America (ESA) for their financial and logistical support of the Coupled Biogeochemical Cycles sessions held at the 2009 ESA Annual Meeting, and the publication of this special feature issue of Frontiers. ACF was supported by the NSF (DEB- 0743564) and the US Department of Energy’s (DOE’s) Office of Biological and Environmental Research (10- DOE-1053). SCD was supported by the Center for Microbial Oceanography, Research and Education (NSF EF-0424599). RBJ was supported by the NSF (DEB #0717191) and by the DOE’s National Institute for Climate Change Research

‘We need to get together and make ourselves heard’: everyday online spaces as incubators of political action

This article examines to what extent, and how, people engaging in political talk within ‘non-political’ discussion forums – online lifestyle communities – leads to political (or personal) action or calls-to-action. The analysis is framed in the context of wider questions of citizenship, civic engagement and political mobilization. To capture everyday political talk amongst citizens requires us to move beyond the now widely analysed online spaces of formal politics. Instead, we focus on online third spaces concerning lifestyle issues such as parenting, personal finance and popular culture. Drawing on a content analysis of three popular UK-based discussion forums over the course of five years (2010–2014), we found that (for two of the three cases) such spaces were more than just talking shops. Rather they were spaces where political actions not only emerged, but where they seemed to be cultivated. Discussions embedded in the personal lives of participants often developed – through talk – into political actions aimed at government (or other) authorities. The article sheds light on the contributing factors and processes that (potentially) trigger and foster action emerging from political talk and provides insight into the mobilization potential of third spaces