Complete Renormalization Group Improvement-Avoiding Factorization and Renormalization Scale Dependence in QCD Predictions

For moments of leptoproduction structure functions we show that all dependence on the renormalization and factorization scales disappears, provided that all the ultraviolet logarithms involving the physical energy scale Q are completely resummed. The approach is closely related to Grunberg's method of Effective Charges. A direct and simple method for extracting the universal dimensional transmutation parameter of QCD from experimental data is advocated.Comment: 16 pages, no figure

Modelling the Longitudinal Properties of Financial Ratios of European Firms

The use of financial ratios by analysts to compare the performance of firms from one accounting period to the next is of growing importance with continued European economic integration. Recent studies suggest that the individual component series of financial ratios exhibit nonstationarity which is not eliminated by the ratio transformation. In this paper, w e derive a generalised model that incorporates stochastic and deterministic trends and allows for restricted and unrestricted proportionate growth in the ratio numerator and denominator. When the individual firm series are included in a panel structure with large N and small T, we are unable to reject convincingly a joint hypothesis of nonstationarity, whilst in about one third of the individual firm panels there is no evidence of a unit root. Although the components of financial ratios are correlated variables, our estimates show that any cointegrating effects decay rapidly.financial ratios, nonstationarity, proportionate growth, cointegration, panel methods

Renormalization-Scheme-Independent Perturbation Theory by Resumming Logarithms

Results of perturbation theory in quantum field theory generally depend on the renormalization scheme that is in use. In particular, they depend on the scale. We try to make perturbation theory scheme invariant by re-expanding with respect to a scheme invariant quantity. Furthermore, we investigate whether the potentially large logarithms in such an expansion cause inaccuracy and how this can be improved.Comment: 15 pages, 2 figures. First replaced version: added one reference. Second replaced version: added two references, mention effective-charge method, added remarks about further research possibilities, changed size of graphs a littl

Direct Extraction of QCD Lambda MS-bar from e+e- Jet Observables

We directly fit the QCD dimensional transmutation parameter, Lambda MS-bar, to experimental data on e+e- jet observables, making use of next-to-leading order (NLO) perturbative calculations. In this procedure there is no need to mention, let alone to arbitrarily vary, the unphysical renormalisation scale mu, and one avoids the spurious and meaningless ``theoretical error'' associated with standard alpha_s determinations. PETRA, SLD, and LEP data are considered in the analysis. An attempt is made to estimate the importance of uncalculated next-NLO and higher order perturbative corrections, and power corrections, by studying the scatter in the values of Lambda MS-bar obtained for different observables.Comment: 46 pages, 22 figure

A Crystal Structure of the Bifunctional Antibiotic Simocyclinone D8, Bound to DNA Gyrase

Simocyclinones are bifunctional antibiotics that inhibit bacterial DNA gyrase by preventing DNA binding to the enzyme. We report the crystal structure of the complex formed between the N-terminal domain of the Escherichia coli gyrase A subunit and simocyclinone D8, revealing two binding pockets that separately accommodate the aminocoumarin and polyketide moieties of the antibiotic. These are close to, but distinct from, the quinolone-binding site, consistent with our observations that several mutations in this region confer resistance to both agents. Biochemical studies show that the individual moieties of simocyclinone D8 are comparatively weak inhibitors of gyrase relative to the parent compound, but their combination generates a more potent inhibitor. Our results should facilitate the design of drug molecules that target these unexploited binding pockets

RS-invariant all-orders renormalon resummations for some QCD observables

We propose a renormalon-inspired resummation of QCD perturbation theory based on approximating the renormalization scheme (RS) invariant effective charge beta-function coefficients by the portion containing the highest power of $b$=$\frac{1}{6}(11N$--$2N_{f})$, for SU($N$) QCD with $N_{f}$ quark flavours. This can be accomplished using exact large-$N_{f}$ all-orders results. The resulting resummation is RS-invariant and the exact next-to-leading order (NLO) and next-to-NLO (NNLO) coefficients in any RS are included. This improves on a previously employed naive resummation of the leading-$b$ piece of the perturbative coefficients which is RS-dependent, making its comparison with fixed-order perturbative results ambiguous. The RS-invariant resummation is used to assess the reliability of fixed-order perturbation theory for the $e^{+}e^{-}$ $R$-ratio, the analogous $\tau$-lepton decay ratio $R_{\tau}$, and Deep Inelastic Scattering (DIS) sum rules, by comparing it with the exact NNLO results in the effective charge RS. For the $R$-ratio and $R_{\tau}$, where large-order perturbative behaviour is dominated by a leading ultra-violet renormalon singularity, the comparison indicates fixed-order perturbation theory to be very reliable. For DIS sum rules, which have a leading infra-red renormalon singularity, the performance is rather poor. In this way we estimate that at LEP/SLD energies ideal data on the $R$-ratio could determine $\alpha_{s}(M_{Z})$ to three-significant figures, and for the $R_{\tau}$ we estimate a theoretical uncertainty $\delta\alpha_{s}(m_{\tau})\simeq0.008$ corresponding to $\delta\alpha_{s}(M_{Z})\simeq0.001$. This encouragingly small uncertainty is much less than has recently been deduced from comparison with the ambiguous naive resummation.Comment: 25 pages, uses LaTeX, 12 Postscript figures, epsfig.sty 'elsart.sty' and 'elsart12.sty' are available via anonymous-ftp at ftp://ftp.tex.ac.uk/tex-archive/macros/latex/contrib/supported/elsevie

Relating Physical Observables in QCD without Scale-Scheme Ambiguity

We discuss the St\"uckelberg-Peterman extended renormalization group equations in perturbative QCD, which express the invariance of physical observables under renormalization-scale and scheme-parameter transformations. We introduce a universal coupling function that covers all possible choices of scale and scheme. Any perturbative series in QCD is shown to be equivalent to a particular point in this function. This function can be computed from a set of first-order differential equations involving the extended beta functions. We propose the use of these evolution equations instead of perturbative series for numerical evaluation of physical observables. This formalism is free of scale-scheme ambiguity and allows a reliable error analysis of higher-order corrections. It also provides a precise definition for $\Lambda_{\overline{\rm MS}}$ as the pole in the associated 't Hooft scheme. A concrete application to $R(e^+e^- \to {\rm hadrons})$ is presented.Comment: Plain TEX, 4 figures (available upon request), 22 pages, DOE/ER/40322-17

Renormalon-inspired resummations for vector and scalar correlators- estimating the uncertainty in {alpha}_{s}({m}_{\tau}^{2}) and and {\alpha}({M}_{Z}^{2})

We perform an all-orders resummation of the QCD Adler D-function for the vector correlator, in which the portion of perturbative coefficients involving the leading power of b, the first beta-function coefficient, is resummed. To avoid a renormalization scale dependence when we match the resummation to the exactly known NLO and NNLO results, we employ the Complete Renormalization Group Improvement (CORGI) approach. These fixed-order and resummed CORGI results are analytically continued by numerically performing a contour integral to obtain corresponding fixed and all-orders ``contour-improved'' results for the e+e- R-ratio ands its tau decay analogue R_{\tau}. The difference between these fixed-order and all-order results is used to estimate the uncertainty in the extraction of {alpha}_{s}({M}_{Z}^{2}} from R_{\tau} measurements, and that in the QED coupling {\alpha}({M}_{Z}^{2}) due to hadronic corrections related to R. Analogous resummations for the scalar correlator are performed, and used to assess the uncertainty in the Higgs decay width to a heavy quark pair. We point out that CORGI fixed-order contour-improved results for R and the Higgs decay width, can be given explicitly in terms of the Lambert-W function and hypergeometric functions, avoiding the need for numerical integration.Comment: 33 pages, 8 figure

ALEPH Tau Spectral Functions and QCD

Hadronic $\tau$ decays provide a clean laboratory for the precise study of quantum chromodynamics (QCD). Observables based on the spectral functions of hadronic $\tau$ decays can be related to QCD quark-level calculations to determine fundamental quantities like the strong coupling constant, quark and gluon condensates. Using the ALEPH spectral functions and branching ratios, complemented by some other available measurements, and a revisited analysis of the theoretical framework, the value \asm = 0.345 \pm 0.004_{\rm exp} \pm 0.009_{\rm th} is obtained. Taken together with the determination of \asZ from the global electroweak fit, this result leads to the most accurate test of asymptotic freedom: the value of the logarithmic slope of $\alpha_s^{-1}(s)$ is found to agree with QCD at a precision of 4%. The value of \asZ obtained from $\tau$ decays is \asZ = 0.1215 \pm 0.0004_{\rm exp} \pm 0.0010_{\rm th} \pm 0.0005_{\rm evol} = 0.1215 \pm 0.0012.Comment: 14 pages, 5 figures, invited talk at the Tau06 International Workshop, Pisa, September 19-22 200

Using an Effective Charges Method to extract Lambda-MS-bar from event shape moments in e+e- annihilation

We use an Effective Charges (ECH) method to extract Lambda-MS-bar, and hence alpha_s(M_z), from event shape moments in e+e- annihilation. We compare these results with ones obtained using standard MS-bar perturbation theory. The ECH method at NLO is found to perform better than standard MS-bar perturbation theory when applied to means of event shape observables. For example, when we apply the NLO ECH method to we get alpha_s(M_z)=0.1193\pm0.0003. However ECH at NNLO is found to work less well than ECH at NLO, and the ECH method also fails to describe data for higher moments of event shapes. We attempt to explain this by considering the ECH beta-function as an asymptotic series. We also examine the effect of adding two different models for non-perturbative power corrections to the perturbative approximation given by the ECH method and MS-bar perturbation theory. Whilst only small power corrections are required when using ECH at NLO, it is found that these models are insufficient to couteract the undesirable behaviour of ECH at NNLO.Comment: 43 pages, 16 figures, Extended Conclusions section, minor textual editing, slight changes to some tabulated values, overall conclusions unchange