Economic Consequences of the Sarbanes-Oxley Act of 2002

This paper investigates the economic consequences of the Sarbanes-Oxley Act through a study of market reactions to legislative events related to the Act. I find that the cumulative abnormal return around all legislative events leading to the passage of the Act is significantly negative. I then examine the private benefits and costs of major provisions of the Act by investigating the cross-sectional variation in market reactions to the rulemaking events. Regression results are consistent with the hypothesis that shareholders consider both the restriction of nonaudit services and the provisions to enhance corporate governance costly to business. The results also show that Section 404 of SOX, which mandates an internal control test, imposes significant costs on firms on average.

Jet-like structures from PSR J1135-6055

Pulsar wind nebulae (PWNe) produced from supersonic runaway pulsars can render extended X-ray structures in the form of tails and prominent jets. In this Letter we report on the analysis of $\sim$130 ks observations of the PWN around PSR$\,$J1135-6055 obtained with the Chandra satellite. The system displays bipolar jet-like structures of uncertain origin, a compact nebula around the pulsar likely formed by the bow shock ahead of it, and a trailing tail produced by the pulsar fast proper motion. The spectral and morphological properties of these structures reveal strong similarities with the PWNe in other runaway pulsars like PSR J1509-5850 and Geminga. We discuss their physical origin considering both canonical PWN and jet formation models as well as alternative scenarios that can also yield extended jet-like features following the escape of high-energy particles into the ambient magnetic field.Comment: Accepted for publication in A&

Health Service Access for Rural People Living with HIV/AIDS in China: A Critical Evaluation

The increasingly serious HIV/AIDS epidemic creates a significant burden for the public health system; however, little attention has been paid to the issue of health service access in rural China. Based on a qualitative study of 34 Chinese rural People Living with HIVIAIDS (PLWHA) and 13 health providers, this study fills a gap by examining health service access from both the demand and supply-side. Utilizing access theory, this study explores the availability, affordability and acceptability of health services in rural China. Moreover, this study focuses on access barriers and institutional obstacles that PLWHA meet during their illness and considers the influence of the current Chinese political philosophy of marketization and privatization of the health care systems

Behaviour of caisson breakwater subject to breaking waves

Ph.DDOCTOR OF PHILOSOPH

Latitudinal-dependent emergence of phytoplankton seasonal blooms in the Kuroshio Extension

The bimodal and unimodal seasonal cycles of surface Chlorophyll-a (Chl-a) concentration (SCC) are ubiquitous in the mid-latitude oceans. The nutrient and light are regarded as two key factors affecting such seasonal differences. However, our quantitative knowledge of distinguishing these two factors is still inadequate in mid-latitude regions where they limit primary productivity simultaneously. It hinders the full understanding of the underlying mechanisms of seasonal blooms. In this study, the bimodal and unimodal variations of SCC in the Kuroshio Extension (KE) region have been investigated, with a special focus on the emergence latitudes of the secondary peak, i.e., the phytoplankton fall bloom. Based on satellite observations, we have found that the SCC bloom emerges in spring and fall in the northern region, and that spring (fall) bloom starts later (earlier) as the latitude gets higher. In the southern part of KE, by contrast, the SCC tends to peak in late winter or early spring with its bloom time delaying gradually with increasing latitude. A regression model regarding the role of the nutrient and light has been proposed to reconstruct the seasonal variations of the observed SCC, and the relative contributions of the two factors have been assessed quantitatively. It is shown that the regression model has reasonably captured the seasonal variations of SCC in terms of the bimodal/unimodal feature as well as the time of occurrence. Specifically, we have found the boundary between bimodality and unimodality areas moves northward as KE flows eastward, which corresponds to the equivalent contribution of the nutrient and light to the SCC variation and the eastward-decreasing nutrient at the same latitude. Moreover, we have used the model to explore the lag effect of light on regulating the seasonal cycle of SCC, which is associated with the light-heating process, the resultant ocean vertical stratification and the nutrient deficiency, the time interval between the growth rate and SCC, as well as light attenuation within the mixed layer. In the context of global warming, our study has provided insights into the switch pattern between bimodality and unimodality of SCC in mid-latitude oceans

Crop residue management and fertilization effects on soil organic matter and associated biological properties

Returning crop residue may result in nutrient reduction in soil in the first few years. A two-year field experiment was conducted to assess whether this negative effect is alleviated by improved crop residue management (CRM). Nine treatments (3 CRM and 3 N fertilizer rates) were used. The CRM treatments were (1) R0: 100 % of the N using mineral fertilizer with no crop residues return; (2) R: crop residue plus mineral fertilizer as for the R0; and (3) Rc: crop residue plus 83 % of the N using mineral and 17 % manure fertilizer. Each CRM received N fertilizer rates at 270, 360, and 450 kg N ha−1 year−1. At the end of the experiment, soil NO3-N was reduced by 33 % from the R relative to the R0 treatment, while the Rc treatment resulted in a 21 to 44 % increase in occluded particulate organic C and N, and 80 °C extracted dissolved organic N, 19 to 32 % increase in microbial biomass C and protease activity, and higher monounsaturated phospholipid fatty acid (PLFA):saturated PLFA ratio from stimulating growth of indigenous bacteria when compared with the R treatment. Principal component analysis showed that the Biolog and PLFA profiles in the three CRM treatments were different from each other. Overall, these properties were not influenced by the used N fertilizer rates. Our results indicated that application of 17 % of the total N using manure in a field with crop residues return was effective for improving potential plant N availability and labile soil organic matter, primarily due to a shift in the dominant microorganisms

Single-Cell RNA Sequencing of hESC-Derived 3D Retinal Organoids Reveals Novel Genes Regulating RPC Commitment in Early Human Retinogenesis.

The development of the mammalian retina is a complicated process involving the generation of distinct types of neurons from retinal progenitor cells (RPCs) in a spatiotemporal-specific manner. The progression of RPCs during retinogenesis includes RPC proliferation, cell-fate commitment, and specific neuronal differentiation. In this study, by performing single-cell RNA sequencing of cells isolated from human embryonic stem cell (hESC)-derived 3D retinal organoids, we successfully deconstructed the temporal progression of RPCs during early human retinogenesis. We identified two distinctive subtypes of RPCs with unique molecular profiles, namely multipotent RPCs and neurogenic RPCs. We found that genes related to the Notch and Wnt signaling pathways, as well as chromatin remodeling, were dynamically regulated during RPC commitment. Interestingly, our analysis identified that CCND1, a G1-phase cell-cycle regulator, was coexpressed with ASCL1 in a cell-cycle-independent manner. Temporally controlled overexpression of CCND1 in retinal organoids demonstrated a role for CCND1 in promoting early retinal neurogenesis. Together, our results revealed critical pathways and novel genes in early retinogenesis of humans