Informational Content of Options Trading on Acquirer Announcement Return

This study examines the informational content of options trading on acquirer announcement returns. We show that implied volatility spread predicts positively on the cumulative abnormal return (CAR), and implied volatility skew predicts negatively on the CAR. The predictability is much stronger around actual merger and acquisition (M&A) announcement days, compared with pseudo-event days. The prediction is weaker if pre-M&A stock price has incorporated part of the information, but stronger if acquirer’s options trading is more liquid. Finally, we find that higher relative trading volume of options to stock predicts higher absolute CARs. The relation also exists among the target firms.postprin

Efficient blind image restoration using discrete periodic Radon transform

Author name used in this publication: Daniel P. K. LunAuthor name used in this publication: David Dagan FengCentre for Multimedia Signal Processing, Department of Electronic and Information Engineering2003-2004 > Academic research: refereed > Publication in refereed journalVersion of RecordPublishe

Dioxiranes generated in situ from pyruvates and oxone as environmentally friendly oxidizing agents for disinfection

Dioxiranes generated in situ from pyruvates (α-keto esters) and Oxone have been found to be environmentally friendly oxidizing agents for disinfection. These oxidizing agents were highly effective for destruction of various strains of bacteria, fungi, and bacterial endospores in a wide temperature range with exceptional stability. Notably, by using an aqueous solution of methyl pyruvate (1a) and Oxone/NaHCO3, complete destruction of bacteria such as Staphylococcus aureusand fungus Penicillium corylophilum was achieved within 5 min at 20 °C at neutral pH. Highly chemical-resistant bacterial endospores of Bacillus cereus could also be destroyed. The high antibacterial activity of 1a could be attributed to its strong electron-withdrawing α-ester group. © 2006 American Chemical Society.postprin

Diffusion of pseudospherical molecules : an investigation on the effects of dipole moment

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Diffusion of aromatic compounds : an investigation on the effects of molecular shape, mass, and dipole moment

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Could the compact remnant of SN 1987A be a quark star?

The standard model for Type II supernovae explosions, confirmed by the detection of neutrinos emitted during the supernova explosion, predicts the formation of a compact object, usually assumed to be a neutron star. However, the lack of detection of a neutron star or pulsar formed in the SN 1987A still remains an unsolved mystery. In this paper, we suggest that the newly formed neutron star at the center of SN 1987A may undergo a phase transition after the neutrino trapping timescale (∼10 s). Consequently the compact remnant of SN 1987A may be a strange quark star, which has a softer equation of state than that of neutron star matter. Such a phase transition can induce stellar collapse and result in large amplitude stellar oscillations.We use a three-dimensional Newtonian hydrodynamic code to study the time evolution of the temperature and density at the neutrinosphere. Extremely intense pulsating neutrino fluxes, with submillisecond period and with neutrino energy (greater than 30 MeV), can be emitted because the oscillations of the temperature and density are out of phase almost 180◦. If this is true we predict that the current X-ray emission from the compact remnant of SN 1987A will be lower than 1034 erg s−1, and it should be a thermal bremsstrahlung spectrum for a bare strange star with a surface temperature of around ∼107 K.published_or_final_versio

Emergence of Carbapenem-Resistant Acinetobacter baumannii in Nursing Homes With High Background Rates of MRSA Colonization

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Musical Interfaces: Visualization and Reconstruction of Music with a Microfluidic Two-Phase Flow

Detection of sound wave in fluids can hardly be realized because of the lack of approaches to visualize the very minute sound-induced fluid motion. In this paper, we demonstrate the first direct visualization of music in the form of ripples at a microfluidic aqueous-aqueous interface with an ultra-low interfacial tension. The interfaces respond to sound of different frequency and amplitude robustly with sufficiently precise time resolution for the recording of musical notes and even subsequent reconstruction with high fidelity. Our work shows the possibility of sensing and transmitting vibrations as tiny as those induced by sound. This robust control of the interfacial dynamics enables a platform for investigating the mechanical properties of microstructures and for studying frequency-dependent phenomena, for example, in biological systems.published_or_final_versio

Diffusion of aromatic compounds in nonaqueous solvents : a study of solute, solvent, and temperature dependences

Author name used in this publication: Chan, T. C.Author name used in this publication: Tang, W. K.2012-2013 > Academic research: refereed > Publication in refereed journalVersion of RecordPublishe