Corporate governance, research and development volatility and firm performance - Evidence from Spain and Ireland

The present study sheds light on the comparative experiences of the two countries originating from differing legal systems and describes how their codes and practices affect the publicly listed firms’ performance. It investigates the linkages between Research and Development (R&D) expenditures, Board characteristics and firm performance using a sample of Irish and Spanish firms for the period 2005–2014. To do this, the study uses ROA and Tobin’s Q as proxies for financial performance; and board size, non-executive directors, female representation and CEO duality as board structure characteristics; and R&D expenditure volatility, employing different techniques that include OLS, fixed effects model and Quantile regression model. The difference-in-difference model is used to verify the significance of robustness of relationships considering the global financial crisis as an exogenous shock. The descriptive statistics suggests a comparability of boards’ independence for the Spanish- and Irish-listed firms. Although the Spanish firms are less dual than Irish firms, the results are comparable on the association between CEO duality and firm performance. The findings of Spanish-listed firms on the relationship between increase and decrease in the R&D expenditures volatility and performance support the creative–destructive perspective that suggests effective governance in funding allocation to R&D

Hyperfine structure in the sequence of sodium S states

The hyperfine structure for the 6, 7 and 8 2 S 1/2 states of 23 Na was measured by optical double-resonance techniques. The states were populated by step-wise excitation using two CW dye lasers. For the dipole interaction constant a, a(6 2 S 1/2 ) = 37.5(2) MHz, a(7 2 S 1/2 )=20.9(1) MHz, a(8 2 S 1/2 )=12.85(10) MHz. were obtained. Theoretical calculations of the hyperfine structure were performed for the 3-8 2 S 1/2 states using many-body perturbation techniques. When polarization as well as certain correlation effects are included in the calculation, an agreement with the experimental values within 2% is obtained

Multi-channel conduction in redox-based resistive switch modelled using quantum point contact theory

A simple analytic model for the electron transport through filamentary-type structures in Si-rich silica (SiOx)-based resistive switches is proposed. The model is based on a mesoscopic description and is able to account for the linear and nonlinear components of conductance that arise from both fully and partially formed conductive channels spanning the dielectric film. Channels are represented by arrays of identical scatterers whose number and quantum transmission properties determine the current magnitude in the low and high resistance states. We show that the proposed model not only reproduces the experimental current-voltage (I-V) characteristics but also the normalized differential conductance (dln(I)/dln(V)-V) curves of devices under test

Hyperfine-structure study in the P sequence of 23 Na using quantum-beam spectroscopy

Describes use of the quantum-beat method to study hyperfine structure in the 5 2 P 3/2 and 6 2 P 3/2 states of 23 Na. A pulsed dye laser, frequency-doubled into the UV region, was used to excite sodium atoms abruptly in a beam. The fluorescent light was recorded with a fast transient digitiser, interfaced to a micro-computer. Theoretical calculations using many-body perturbation theory were performed for the entire P sequence measured so far, taking polarisation and correlation effects into account separately. Very good agreement between experimental and theoretical values was obtained