The impact of executive payment on firm performance of the financial enterprises in China

Using a panel of Chinese commercial banks over the 2001-2009 period, this study explores the relationship between executive pay and performance, as well as, the comparison of pay-performance sensitivity between managers and directors. Several methods were employed to estimate the relation, with control variables of size and ownership, based on alternative measures of performance. Our analyses revealed that the performance of non-performing loan ratios and ROE have significant effect on director’s compensation. On the contrary, no relation between bank performance and managers compensation was found, and neither any impact of compensation changes on performance. Moreover, according to our results the state control ownership can lower the pay-performance sensitivity. As a conclusion, this research supports that government regulations on bank performance rating and executive compensation are necessary

Search for gravitational-wave transients associated with magnetar bursts in advanced LIGO and advanced Virgo data from the third observing run

Gravitational waves are expected to be produced from neutron star oscillations associated with magnetar giant f lares and short bursts. We present the results of a search for short-duration (milliseconds to seconds) and longduration (∼100 s) transient gravitational waves from 13 magnetar short bursts observed during Advanced LIGO, Advanced Virgo, and KAGRA’s third observation run. These 13 bursts come from two magnetars, SGR1935 +2154 and SwiftJ1818.0−1607. We also include three other electromagnetic burst events detected by FermiGBM which were identified as likely coming from one or more magnetars, but they have no association with a known magnetar. No magnetar giant flares were detected during the analysis period. We find no evidence of gravitational waves associated with any of these 16 bursts. We place upper limits on the rms of the integrated incident gravitational-wave strain that reach 3.6 × 10−²³ Hz at 100 Hz for the short-duration search and 1.1 ×10−²² Hz at 450 Hz for the long-duration search. For a ringdown signal at 1590 Hz targeted by the short-duration search the limit is set to 2.3 × 10−²² Hz. Using the estimated distance to each magnetar, we derive upper limits upper limits on the emitted gravitational-wave energy of 1.5 × 1044 erg (1.0 × 1044 erg) for SGR 1935+2154 and 9.4 × 10^43 erg (1.3 × 1044 erg) for Swift J1818.0−1607, for the short-duration (long-duration) search. Assuming isotropic emission of electromagnetic radiation of the burst fluences, we constrain the ratio of gravitational-wave energy to electromagnetic energy for bursts from SGR 1935+2154 with the available fluence information. The lowest of these ratios is 4.5 × 103

A joint Fermi-GBM and Swift-BAT analysis of gravitational-wave candidates from the third gravitational-wave observing run

We present Fermi Gamma-ray Burst Monitor (Fermi-GBM) and Swift Burst Alert Telescope (Swift-BAT) searches for gamma-ray/X-ray counterparts to gravitational-wave (GW) candidate events identified during the third observing run of the Advanced LIGO and Advanced Virgo detectors. Using Fermi-GBM onboard triggers and subthreshold gamma-ray burst (GRB) candidates found in the Fermi-GBM ground analyses, the Targeted Search and the Untargeted Search, we investigate whether there are any coincident GRBs associated with the GWs. We also search the Swift-BAT rate data around the GW times to determine whether a GRB counterpart is present. No counterparts are found. Using both the Fermi-GBM Targeted Search and the Swift-BAT search, we calculate flux upper limits and present joint upper limits on the gamma-ray luminosity of each GW. Given these limits, we constrain theoretical models for the emission of gamma rays from binary black hole mergers

Constraints on the cosmic expansion history from GWTC–3

We use 47 gravitational wave sources from the Third LIGO–Virgo–Kamioka Gravitational Wave Detector Gravitational Wave Transient Catalog (GWTC–3) to estimate the Hubble parameter H(z), including its current value, the Hubble constant H0. Each gravitational wave (GW) signal provides the luminosity distance to the source, and we estimate the corresponding redshift using two methods: the redshifted masses and a galaxy catalog. Using the binary black hole (BBH) redshifted masses, we simultaneously infer the source mass distribution and H(z). The source mass distribution displays a peak around 34 M⊙, followed by a drop-off. Assuming this mass scale does not evolve with the redshift results in a H(z) measurement, yielding ${H}_{0}={68}_{-8}^{+12}\,\mathrm{km}\ \,\ {{\rm{s}}}^{-1}\,{\mathrm{Mpc}}^{-1}$ (68% credible interval) when combined with the H0 measurement from GW170817 and its electromagnetic counterpart. This represents an improvement of 17% with respect to the H0 estimate from GWTC–1. The second method associates each GW event with its probable host galaxy in the catalog GLADE+, statistically marginalizing over the redshifts of each event's potential hosts. Assuming a fixed BBH population, we estimate a value of ${H}_{0}={68}_{-6}^{+8}\,\mathrm{km}\ \,\ {{\rm{s}}}^{-1}\,{\mathrm{Mpc}}^{-1}$ with the galaxy catalog method, an improvement of 42% with respect to our GWTC–1 result and 20% with respect to recent H0 studies using GWTC–2 events. However, we show that this result is strongly impacted by assumptions about the BBH source mass distribution; the only event which is not strongly impacted by such assumptions (and is thus informative about H0) is the well-localized event GW190814

Open data from the third observing run of LIGO, Virgo, KAGRA, and GEO

The global network of gravitational-wave observatories now includes five detectors, namely LIGO Hanford, LIGO Livingston, Virgo, KAGRA, and GEO 600. These detectors collected data during their third observing run, O3, composed of three phases: O3a starting in 2019 April and lasting six months, O3b starting in 2019 November and lasting five months, and O3GK starting in 2020 April and lasting two weeks. In this paper we describe these data and various other science products that can be freely accessed through the Gravitational Wave Open Science Center at https://gwosc.org. The main data set, consisting of the gravitational-wave strain time series that contains the astrophysical signals, is released together with supporting data useful for their analysis and documentation, tutorials, as well as analysis software packages

The impact of executive payment on firm performance of the financial enterprises in China

Using a panel of Chinese commercial banks over the 2001-2009 period, this study explores the relationship between executive pay and performance, as well as, the comparison of pay-performance sensitivity between managers and directors. Several methods were employed to estimate the relation, with control variables of size and ownership, based on alternative measures of performance. Our analyses revealed that the performance of non-performing loan ratios and ROE have significant effect on director’s compensation. On the contrary, no relation between bank performance and managers compensation was found, and neither any impact of compensation changes on performance. Moreover, according to our results the state control ownership can lower the pay-performance sensitivity. As a conclusion, this research supports that government regulations on bank performance rating and executive compensation are necessary

Precession-based control methodology for haematopoietic stem cells harvesting

10.1109/ICCA.2013.6565204IEEE International Conference on Control and Automation, ICCA147-15

Effect of Sc contents on the mechanical properties and damping capacity of Al–Zn–Mg–Cu–Zr–Sc alloys with different grain structures

Al–Zn–Mg–Cu–Zr–Sc alloys with different Sc contents were fabricated by casting, deformation, and T6 treatment. Deformation methods including rolling and friction-stir processing (FSP) were used to design their grain structure. A low additive amount (0.1) of Sc cannot refine the grains of the alloy with rolling and T6 treatment, and it instead coarsened the grains. The reason was the non-uniform distribution of nanosize Al3(Sc,Zr) phases that led to the occurrence of abnormal grain growth during homogenization. Meanwhile, the alloy with only 0.1Sc exhibited finer grains after FSP and T6 treatment than the alloys subjected to the same process but with higher Sc additive amount. Alloys with rolling-induced elongated grain structure exhibited better mechanical properties, and alloys with FSP-induced fine equiaxed grain structure exhibited higher high-strain and high-temperature internal friction values. These features are important performance parameters for applications in fields where vibration and noise are sensitive. The optimum additive amounts of Sc for alloys with elongated and fine equiaxed grain structures were 0.25 and 0.1, respectively