Is the Convergence of Accounting Standards Good for Stock Markets?

This paper examines the impact of the convergence of Hong Kong Accounting Standard 40 (HKAS 40) with the International Financial Reporting Standard (IFRS) on the stock prices of firms in the property industry. Using a sample of 22111 firm-day observations, we show that the new standard has a negative impact on the stock performance of these firms.Hong Kong Accounting Standard 40, Event Window, Stock Return.

Quasinormal Modes of Dirty Black Holes

Quasinormal mode (QNM) gravitational radiation from black holes is expected to be observed in a few years. A perturbative formula is derived for the shifts in both the real and the imaginary part of the QNM frequencies away from those of an idealized isolated black hole. The formulation provides a tool for understanding how the astrophysical environment surrounding a black hole, e.g., a massive accretion disk, affects the QNM spectrum of gravitational waves. We show, in a simple model, that the perturbed QNM spectrum can have interesting features.Comment: 4 pages. Published in PR

Interplay between multiple scattering, emission, and absorption of light in the phosphor of a white light-emitting diode

We study light transport in phosphor plates of white light-emitting diodes (LEDs). We measure the broadband diffuse transmission through phosphor plates of varying YAG:Ce$^{3+}$ density. We distinguish the spectral ranges where absorption, scattering, and re-emission dominate. Using diffusion theory, we derive the transport and absorption mean free paths from first principles. We find that both transport and absorption mean free paths are on the order of the plate thickness. This means that phosphors in commercial LEDs operate well within an intriguing albedo range around 0.7. We discuss how salient parameters that can be derived from first principles control the optical properties of a white LED.Comment: 14 pages, 9 figure

Financial Crisis and the Comovements of Housing Sub-markets: Do relationships change after a crisis?

This study of the co-movements of the transaction prices and trading volumes reveal that the mean correlation of prices, and trading volumes alike, among different housing sub-markets increases during the market boom. After a financial crisis, the correlations drop dramatically and stay low. The distribution of the correlations changes from skewed to symmetric. All these coincide with the increase in the total variance of prices, as well as the share of the idiosyncratic component in the total variance after the crisis. These findings are consistent to a family of theories which emphasize on “regime switch” in expectation.financial crisis; hedonic pricing; structural break; evolution of valuation; rolling regression

The Radon Monitoring System in Daya Bay Reactor Neutrino Experiment

We developed a highly sensitive, reliable and portable automatic system (H$^{3}$) to monitor the radon concentration of the underground experimental halls of the Daya Bay Reactor Neutrino Experiment. H$^{3}$ is able to measure radon concentration with a statistical error less than 10\% in a 1-hour measurement of dehumidified air (R.H. 5\% at 25$^{\circ}$C) with radon concentration as low as 50 Bq/m$^{3}$. This is achieved by using a large radon progeny collection chamber, semiconductor $\alpha$-particle detector with high energy resolution, improved electronics and software. The integrated radon monitoring system is highly customizable to operate in different run modes at scheduled times and can be controlled remotely to sample radon in ambient air or in water from the water pools where the antineutrino detectors are being housed. The radon monitoring system has been running in the three experimental halls of the Daya Bay Reactor Neutrino Experiment since November 2013

Unification of bulk and interface electroresistive switching in oxide systems

We demonstrate that the physical mechanism behind electroresistive switching in oxide Schottky systems is electroformation, as in insulating oxides. Negative resistance shown by the hysteretic current-voltage curves proves that impact ionization is at the origin of the switching. Analyses of the capacitance-voltage and conductance-voltage curves through a simple model show that an atomic rearrangement is involved in the process. Switching in these systems is a bulk effect, not strictly confined at the interface but at the charge space region.Comment: 4 pages, 3 figures, accepted in PR

A comparison theorem for permanents and a proof of a conjecture on (t, m)-families

AbstractA comparison theorem for permanents is established and it is used to prove a conjecture on (t, m)-families

Perturbative Approach to the Quasinormal Modes of Dirty Black Holes

Using a recently developed perturbation theory for uasinormal modes (QNM's), we evaluate the shifts in the real and imaginary parts of the QNM frequencies due to a quasi-static perturbation of the black hole spacetime. We show the perturbed QNM spectrum of a black hole can have interesting features using a simple model based on the scalar wave equation.Comment: Published in PR

Delivery of RNAi Therapeutics to the Airways—From Bench to Bedside

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