Ownership, competition, and financial disclosure

Empirical research on firms’ (dis)incentives to disclose investigates the effects of a range of variables including information asymmetry, agency costs, political costs, and proprietary costs. Verrecchia (2001) argues that economic-based models of disclosure must establish a link between financial reporting and its economic consequences. In response to Verrecchia (2001) and drawing on the industrial organization and strategic management disciplines we introduce a new variable (measuring insider ownership and industry competition) which links both the internal and external environments of the firm and demonstrate that it adds to our understanding of discretionary financial disclosure decisions. We test the model by examining voluntary segment disclosures in Australian firms. We find that our new variable linking the internal and external environment of the firm, alongside previously tested variables including ownership diffusion, return and size is significant. We conduct a series of robustness tests on our model and find that the significance of the model is robust to the inclusion of variables measuring the change in standard, acquisitions and disposals and cross listing on the US stock exchange

Absence of singular superconducting fluctuation corrections to thermal conductivity

We evaluate the superconducting fluctuation corrections to thermal conductivity in the normal state which diverge as T approaches T_c. We find zero total contribution for one, two and three-dimensional superconductors for arbitrary impurity concentration. The method used is diagrammatic many-body theory, and all contributions -- Aslamazov-Larkin (AL), Maki-Thompson (MT), and density-of-states (DOS) -- are considered. The AL contribution is convergent, whilst the divergences of the DOS and MT diagrams exactly cancel.Comment: 4 pages text; 2 figure

Electromagnetic Dissociation of Nuclei in Heavy-Ion Collisions

Large discrepancies have been observed between measured Electromagnetic Dissociation(ED) cross sections and the predictions of the semiclassical Weiz\"acker-Williams-Fermi(WWF) method. In this paper, the validity of the semiclassical approximation is examined. The total cross section for electromagnetic excitation of a nuclear target by a spinless projectile is calculated in first Born approximation, neglecting recoil. The final result is expressed in terms of correlation functions and convoluted densities in configuration space. The result agrees with the WWF approximation to leading order(unretarded electric dipole approximation), but the method allows an analytic evaluation of the cutoff, which is determined by the details of the electric dipole transition charge density. Using the Goldhaber-Teller model of that density, and uniform charge densities for both projectile and target, the cutoff is determined for the total cross section in the nonrelativistic limit, and found to be smaller than values currently used for ED calculations. In addition, cross sections are calculated using a phenomenological momentum space cutoff designed to model final state interactions. For moderate projectile energies, the calculated ED cross section is found to be smaller than the semiclassical result, in qualitative agreement with experiment.Comment: 28 page

Influence of grain-refiner addition on the morphology of fe-bearing intermetallics in a semi-solid processed Al-Mg-Si alloy

© The Minerals, Metals & Materials Society and ASM International 2013The three-dimensional morphologies of the Fe-bearing intermetallics in a semisolid-processed Al-Mg-Si alloy were examined after extracting the intermetallics. α -AlFeSi and β-AlFeSi are the major Fe-bearing intermetallics. Addition of Al-Ti-B grain refiner typically promotes β-AlFeSi formation. β-AlFeSi was observed with a flat, plate-like morphology with angular edges in the alloy with and without grain refiner, whereas α -AlFeSi was observed as "flower"-like morphology in the alloy with grain refiner. © 2013 The Minerals, Metals & Materials Society and ASM International

Measurement precision and evaluation of the diameter profiles of single wool fibers

A recent model of the Single Fiber Analyzer 3001 (SIFAN3001) was firstly employed to obtain the single wool fiber diameter profiles (SfFDPs) at multiple orientations. The results showed that using SIFAN3001 to measure fiber diameter at four orientations for 50 single fibers randomly sub-sampled from each mid-side sample can produce average fiber diameter profiles (AS fFDPs) of fibers within staples. Within the testing regime used, the precision estimates for the total samples were &plusmn;1.3 &micro;m for the mean fiber diameter of staples and 1.4 &micro;m for the average fiber diameter of the AS fFDPs at each scanned step in the diameter profile. The mean diameter ratio (ellipticity) obtained from the four orientations was 1.08&plusmn;0.01, confirming that the Merino wool fibers under review were elliptical rather than circular. The elliptical morphology of wool fibers and the precision of the fiber diameter measurement at each point along a fiber will be considered in the development of a mechanical model of Staple Strength testing.<br /

Supersymmetric Benchmarks with Non-Universal Scalar Masses or Gravitino Dark Matter

We propose and examine a new set of benchmark supersymmetric scenarios, some of which have non-universal Higgs scalar masses (NUHM) and others have gravitino dark matter (GDM). The scalar masses in these models are either considerably larger or smaller than the narrow range allowed for the same gaugino mass m_{1/2} in the constrained MSSM (CMSSM) with universal scalar masses m_0 and neutralino dark matter. The NUHM and GDM models with larger m_0 may have large branching ratios for Higgs and/or $Z$ production in the cascade decays of heavier sparticles, whose detection we discuss. The phenomenology of the GDM models depends on the nature of the next-to-lightest supersymmetric particle (NLSP), which has a lifetime exceeding 10^4 seconds in the proposed benchmark scenarios. In one GDM scenario the NLSP is the lightest neutralino \chi, and the supersymmetric collider signatures are similar to those in previous CMSSM benchmarks, but with a distinctive spectrum. In the other GDM scenarios based on minimal supergravity (mSUGRA), the NLSP is the lighter stau slepton {\tilde \tau}_1, with a lifetime between ~ 10^4 and 3 X 10^6 seconds. Every supersymmetric cascade would end in a {\tilde \tau}_1, which would have a distinctive time-of-flight signature. Slow-moving {\tilde \tau}_1's might be trapped in a collider detector or outside it, and the preferred detection strategy would depend on the {\tilde \tau}_1 lifetime. We discuss the extent to which these mSUGRA GDM scenarios could be distinguished from gauge-mediated models.Comment: 52 pages LaTeX, 13 figure

Topology in 2D CP**(N-1) models on the lattice: a critical comparison of different cooling techniques

Two-dimensional CP**(N-1) models are used to compare the behavior of different cooling techniques on the lattice. Cooling is one of the most frequently used tools to study on the lattice the topological properties of the vacuum of a field theory. We show that different cooling methods behave in an equivalent way. To see this we apply the cooling methods on classical instantonic configurations and on configurations of the thermal equilibrium ensemble. We also calculate the topological susceptibility by using the cooling technique.Comment: 24 pages, 10 figures (from 16 eps files

Large Kinetic Power in FRII Radio Jets

We investigate the total kinetic powers (L_{j}) and ages (t_{age}) of powerful jets of four FR II radio sources (Cygnus A, 3C 223, 3C 284, and 3C 219) by the detail comparison of the dynamical model of expanding cocoons with observed ones. It is found that these sources have quite large kinetic powers with the ratio of L_{j} to the Eddington luminosity (L_{Edd}) resides in $0.02 <L_{j}/L_{Edd} <10$. Reflecting the large kinetic powers, we also find that the total energy stored in the cocoon (E_{c}) exceed the energy derived from the minimum energy condition (E_{min}): $2< E_{c}/E_{min} <160$. This implies that a large amount of kinetic power is carried by invisible components such as thermal leptons (electron and positron) and/or protons.Comment: 5 pages, accepted for publication in Astrophysics and Space Scienc

Local fluctuations in quantum critical metals

We show that spatially local, yet low-energy, fluctuations can play an essential role in the physics of strongly correlated electron systems tuned to a quantum critical point. A detailed microscopic analysis of the Kondo lattice model is carried out within an extended dynamical mean-field approach. The correlation functions for the lattice model are calculated through a self-consistent Bose-Fermi Kondo problem, in which a local moment is coupled both to a fermionic bath and to a bosonic bath (a fluctuating magnetic field). A renormalization-group treatment of this impurity problem--perturbative in $\epsilon=1-\gamma$, where $\gamma$ is an exponent characterizing the spectrum of the bosonic bath--shows that competition between the two couplings can drive the local-moment fluctuations critical. As a result, two distinct types of quantum critical point emerge in the Kondo lattice, one being of the usual spin-density-wave type, the other ``locally critical.'' Near the locally critical point, the dynamical spin susceptibility exhibits $\omega/T$ scaling with a fractional exponent. While the spin-density-wave critical point is Gaussian, the locally critical point is an interacting fixed point at which long-wavelength and spatially local critical modes coexist. A Ginzburg-Landau description for the locally critical point is discussed. It is argued that these results are robust, that local criticality provides a natural description of the quantum critical behavior seen in a number of heavy-fermion metals, and that this picture may also be relevant to other strongly correlated metals.Comment: 20 pages, 12 figures; typos in figure 3 and in the main text corrected, version as publishe