A Learning Curve of the Market: Chasing Alpha of Socially Responsible Firms

This paper explores stock market reactions to corporate social performance. We find that a value-weighted portfolio based on the list of “100 Best CSR companies in the world”, published by Reputation Institute, yields statistically significant annual abnormal returns of 1.63% and 1.26%, by controlling for Carhart four factors and Fama-French five factors, respectively (2.39% and 1.84% respectively for an equal-weighted portfolio). Moreover, such abnormal returns decrease as time goes, especially after the inaugural publication of the CSR lists in 2013. The paper also indicates that companies with better social performance are more likely to have positive earnings surprises, and that their returns are more sensitive to earnings surprises. The results of this paper have three implications: firstly, CSR reputation contributes positively to a firm’s short-term superior equity performance; secondly, the CSR lists facilitate market correction of mispricing intangibles such as CSR reputation - abnormal returns decrease as the market gradually learns about the value of firms’ social performance; lastly, the paper contributes to the socially responsible investing (SRI) screens and provides guidance for investors who would like to do well financially by doing good socially

Research Article Detect Adjacent Well by Analyzing Geomagnetic Anomalies

Abstract: This study describes a method of determining the position of adjacent well by analyzing geomagnetic anomalies in the drilling. In the experiment, put a casing in the geomagnetic field respectively to simulate 3 conditions, which are vertical well, deviated well and horizontal well. Study the interference of regional geomagnetic caused by casing, summary the law of the regional geomagnetic field anomalies caused by the adjacent casing. Experimental results show that: magnetic intensity distortion caused by deviated well is similar to that caused by horizontal well, but the distortion is different from vertical well. The scope and amplitude of N and E component magnetic intensity distortion will increase with the increase of casing inclination, meanwhile the scope and amplitude of V component distortion will decrease and the distortion value changes from negative to positive to the southwest of adjacent well. Through the analysis of geomagnetic anomalies, the position of the adjacent wells could be determined

Experimental study on flow-induced motion and energy conversion for two triangular prisms in tandem arrangement

Experimental tests on two tandem triangular prisms were accomplished in synergistic flow-induced motion (FIM) to collect ocean current energy (OCE) with varied spacing ratios and Reynolds number ranges. Typical FIM responses and energy conversion are discussed and presented. The effects of parameters (system stiffness, spacing ratio, and load resistance) were considered to improve the energy harvesting of the system. The main findings can be summarized as follows: 1) with varied spacing ratios between the two tandem prisms, the active power (Pharn) was up to 1.95 times that of the single triangular prism (STP); 2) In general, the harnessed OCE capacity of the upstream triangular prism (UTP) was improved, while the energy harvesting of the downstream triangular prism (DTP) was suppressed by the interaction of the two prisms, 3) In the tests, electricity was generated at U = 0.516 m/s, and the active power, which consistently increased as flow velocity increased, reached Pharn = 32.24 W, with a corresponding efficiency of ηharn = 10.31%; and 4) The best energy conservation performance for harvesting the OCE occurred at L/D = 5, and the optimal load resistance was found at RL = 11 Ω

The Mollow triplets under few-photon excitation

Resonant excitation is an essential tool in the development of semiconductor quantum dots (QDs) for quantum information processing. One central challenge is to enable a transparent access to the QD signal without post-selection information loss. A viable path is through cavity enhancement, which has successfully lifted the resonantly scattered field strength over the laser background under \emph{weak} excitation. Here, we extend this success to the \emph{saturation} regime using a QD-micropillar device with a Purcell factor of 10.9 and an ultra-low background cavity reflectivity of just 0.0089. We achieve a signal to background ratio of 50 and an overall system responsivity of 3~\%, i.e., we detect on average 0.03 resonantly scattered single photons for every incident laser photon. Raising the excitation to the few-photon level, the QD response is brought into saturation where we observe the Mollow triplets as well as the associated cascade single photon emissions, without resort to any laser background rejection technique. Our work offers a new perspective toward QD cavity interface that is not restricted by the laser background.Comment: 8 Figures and 9 Pages. Comments are welcom

Na/K-ATPase Y260 Phosphorylation-Mediated Src Regulation in Control of Aerobic Glycolysis and Tumor Growth

We report here the identification of α1 Na/K-ATPase as a major regulator of the proto-oncogene Src kinase and the role of this regulation in control of Warburg effect and tumor growth. Specifically, we discovered Y260 in α1 Na/K-ATPase as a Src-specific phosphorylation and binding site and that Y260 phosphorylation is required for Src-mediated signal transduction in response to a number of stimuli including EGF. As such, it enables a dynamic control of aerobic glycolysis. However, such regulation appears to be lost or attenuated in human cancers as the expression of Na/K-ATPase α1 was significantly decreased in prostate, breast and kidney cancers, and further reduced in corresponding metastatic lesions in patient samples. Consistently, knockdown of α1 Na/K-ATPase led to a further increase in lactate production and the growth of tumor xenograft. These findings suggest that α1 Na/K-ATPase works as a tumor suppressor and that a loss of Na/K-ATPase-mediated Src regulation may lead to Warburg phenotype in cancer

Dynamic resonance fluorescence in solid-state cavity quantum electrodynamics

The coherent interaction between a two-level system and electromagnetic fields serves as a foundation for fundamental quantum physics and modern photonic quantum technology. A profound example is resonance fluorescence, where the non-classical photon emission appears in the form of a Mollow-triplet when a two-level system is continuously driven by a resonant laser. Pushing resonance fluorescence from a static to dynamic regime by using short optical pulses generates on-demand emissions of highly coherent single photons. Further increasing the driving strength in the dynamical regime enables the pursuit of exotic non-classical light emission in photon number superposition, photon number entanglement, and photon bundle states. However, the long-sought-after spectrum beyond the Mollow-triplet, a characteristic of dynamic resonance fluorescence under strong driving strength, has not been observed yet. Here we report the direct observation and systematic investigations of dynamic resonance fluorescence spectra beyond the Mollow-triplet in a solid-state cavity quantum electrodynamic system. The dynamic resonance fluorescence spectra with up to five pairs of side peaks, excitation detuning induced spectral asymmetry, and cavity filtering effect are observed and quantitatively modeled by a full quantum model with phonon scattering included. Time-resolved measurements further reveal that the multiple side peaks originate from interference of the emission associated with different temporal positions of the excitation pulses. Our work facilitates the generation of a variety of exotic quantum states of light with dynamic driving of two-level systems.Comment: Manuscript submitted on 19th May 202

Dysfunctional gut microbiota and relative co-abundance network in infantile eczema

Additional file 1. The representative sequences of OTUs in 33 infants

Mastering Surface Reconstruction of Metastable Spinel Oxides for Better Water Oxidation

International audienceDeveloping highly active electrocatalysts for oxygen evolution reaction (OER) is critical for the commercial effectiveness of water splitting to produce hydrogen fuels. Low-cost spinel oxides have attracted increasing interest as alternatives to noble-metal-based OER catalysts. A rational design of spinel catalysts can be guided by studying the structural/elemental properties which determine the reaction mechanism and activity. Here, using densit