Should I Stay or Should I go? Founder Power and Exit via Initial Public Offering

Founders can voluntarily exit their ventures via initial public offerings (IPOs). In this study, we build on power theory to develop and test a model of founder exit using a dataset of 313 founders from 177 entrepreneurial IPOs between 2002 and 2010. We largely find support for the model—a negative relationship between founder power and full exit. To capture the underlying mechanism of the power-exit relationship, we conducted two experiments in which we randomly assigned decision makers to either a high- or low-power condition. We find that decision makers in the low-power condition are more likely to use a full exit via IPO than those in the high-power condition and that frustration mediates this relationship. However, founders can also engage in partial exits, including a managerial partial exit in which the founder leaves management but keeps ownership and a financial partial exit in which the founder divests ownership but remains in management. We find that the negative relationship between founder power and exit is more negative for full exits than partial exits. With this paper, we contribute to the literature on exit by identifying a novel mechanism—frustration—underlying power’s influence on the likelihood and type of founder exit

Massive Star Outflows

Molecular outflows in the form of wide-angle winds and/or well-collimated jets are associated with young stellar objects of all luminosities. Independent studies have established that the mass outflow rate is proportional to L_bol^0.6 for L_bol = 0.3 to 10^5 L_sun, suggesting that there is a strong link between accretion and outflow for a wide range of source luminosity and there is reasonable evidence that accretion-related processes are responsible for generating massive molecular flows from protostars up to spectral type B0. Beyond L_bol ~ 10^4 L_sun, O stars generate powerful wide-angle, ionized winds that can dramatically affect outflow morphology and even call into question the relationship between outflow and accretion. Recently Beuther & Shepherd (2005) proposed an evolutionary scenario in which massive protostellar flows (up to early B spectral type) begin collimated. Once the star reaches the Main Sequence, ionizing radiation may affect the balance between magnetic and plasma pressure, inducing changes in the flow morphology and energetics. Here I review the properties of outflows from young OB stars, discuss implications and observational tests of this proposed evolutionary scenario, and examine differences between low-mass and massive star formation.Comment: To be published in the IAU Symposium 227 conference proceedings: Massive Star Birth: A Crossroads of Astrophysics See http://www.aoc.nrao.edu/~dshepher/science.shtml for a reprin

Towards a lightweight generic computational grid framework for biological research

Background: An increasing number of scientific research projects require access to large-scale computational resources. This is particularly true in the biological field, whether to facilitate the analysis of large high-throughput data sets, or to perform large numbers of complex simulations – a characteristic of the emerging field of systems biology. Results: In this paper we present a lightweight generic framework for combining disparate computational resources at multiple sites (ranging from local computers and clusters to established national Grid services). A detailed guide describing how to set up the framework is available from the following URL: http://igrid-ext.cryst.bbk.ac.uk/portal_guide/. Conclusion: This approach is particularly (but not exclusively) appropriate for large-scale biology projects with multiple collaborators working at different national or international sites. The framework is relatively easy to set up, hides the complexity of Grid middleware from the user, and provides access to resources through a single, uniform interface. It has been developed as part of the European ImmunoGrid project

The Muon Anomalous Magnetic Moment in the Reduced Minimal 3-3-1 Model

We study the muon anomalous magnetic moment $(g-2)_{\mu}$ in the context of the reduced minimal 3-3-1 model recently proposed in the literature. In particular, its spectrum contains a doubly charged scalar ($H^{\pm \pm}$) and gauge boson ($U^{\pm \pm}$), new singly charged vectors ($V^{\pm}$) and a $Z^{\prime}$ boson, each of which might give a sizeable contribution to the $(g-2)_{\mu}$. We compute the 1-loop contributions from all these new particles to the $(g-2)_{\mu}$. We conclude that the doubly charged vector boson provides the dominant contribution, and by comparing our results with the experimental constraints we derive an expected value for the scale of $SU(3)_L\otimes U(1)_N$ symmetry breaking $v_{\chi} \sim 2$ TeV. We also note that, if the discrepancy in the anomalous moment is resolved in the future without this model then the constraints will tighten to requiring $v_\chi > 2.7$ TeV with current precision, and will entirely rule out the model if the expected precision is achieved by the future experiment at Fermilab.Comment: 19 pages, 4 figure

Effect of low-frequency tones and turbulent-boundary-layer noise on annoyance

A laboratory study was conducted to examine annoyance to combinations of low-frequency tones and turbulent-boundary-layer noise. A total of 240 sounds, containing tones in the range from 80 to 315 Hz, were rated by 108 test subjects in an anechoic chamber. The results indicated that tone penalties (defines as the failure of a noise metric to account for the presence of pure tones) are highly dependent on the choice of noise metric. A-weighted sound pressure level underpredicted annoyance by as much as the equivalent of 5 db and unweighted sound pressure level overpredicted by as much as the equivalent of db. Tone penalties were observed to be dependent on the shape of the turbulent boundary-layer noise spectrum

No Radio Afterglow from the Gamma-Ray Burst of February 28, 1997

We present radio observations of the gamma-ray burster GRB 970228 made with the Very Large Array (VLA) and the Owens Valley Radio Observatory (OVRO) spanning a range of postburst timescales from one to 300 days. A search for a time-variable radio source was conducted covering an area which included a fading X-ray source and an optical transient, both of which are thought to be the long wavelength counterparts to the gamma-ray burst. At the position of the optical transient sensitive limits between 10 uJy and 1 mJy can be placed on the absence of a radio counterpart to GRB 970228 between 1.4 and 240 GHz. We apply a simple formulation of a fireball model which has been used with some success to reproduce the behavior of the optical and X-ray light curves. Using this model we conclude that the radio non-detections are consistent with the peak flux density of the afterglow lying between 20-40 uJy and it requires that the optical flux peaked between 4 and 16 hours after the burst.Comment: ApJ Let (submitted

Recovering a lost baseline: missing kelp forests from a metropolitan coast

© 2008 AuthorThere is concern about historical and continuing loss of canopy-forming algae across the world’s temperate coastline. In South Australia, the sparse cover of canopy-forming algae on the Adelaide metropolitan coast has been of public concern with continuous years of anecdotal evidence culminating in 2 competing views. One view considers that current patterns existed before the onset of urbanisation, whereas the alternate view is that they developed after urbanisation. We tested hypotheses to distinguish between these 2 models, each centred on the reconstruction of historical covers of canopies on the metropolitan coast. Historically, the metropolitan sites were indistinguishable from contemporary populations of reference sites across 70 km (i.e. Gulf St. Vincent), and could also represent a random subset of exposed coastal sites across 2100 km of the greater biogeographic province. Thus there was nothing ‘special’ about the metropolitan sites historically, but today they stand out because they have sparser covers of canopies compared to equivalent locations and times in the gulf and the greater province. This is evidence of wholesale loss of canopy-forming algae (up to 70%) on parts of the Adelaide metropolitan coast since major urbanisation. These findings not only set a research agenda based on the magnitude of loss, but they also bring into question the logic that smaller metropolitan populations of humans create impacts that are trivial relative to that of larger metropolitan centres. Instead, we highlight a need to recognise the ecological context that makes some coastal systems more vulnerable or resistant to increasing human-domination of the world’s coastlines. We discuss challenges to this kind of research that receive little ecological discussion, particularly better leadership and administration, recognising that the systems we study out-live the life spans of individual research groups and operate on spatial scales that exceed the capacity of single research providers.Sean D. Connell, Bayden D. Russell, David J. Turner, Scoresby A. Shepherd, Timothy Kildea, David Miller, Laura Airoldi, Anthony Cheshir

Spectral infrared hemispherical reflectance measurements for LDEF tray clamps

Infrared hemispherical reflectance measurements that were made on 58 chromic acid anodized tray clamps from LDEF are described. The measurements were made using a hemiellipsoidal mirror reflectometer with interferometer for wavelengths between 2-15 microns. The tray clamps investigated were from locations about the entire spacecraft and provided the opportunity for comparing the effects of atomic oxygen at each location. Results indicate there was essentially no dependence on atomic oxygen fluence for the surfaces studied, but there did appear to be a slight dependence on solar radiation exposure. The reflectances of the front sides of the tray clamps consistently were slightly higher than for the protected rear tray clamp surfaces

Resolved CO(1-0) Nuclei in IRAS 14348-1447: Evidence for Massive Bulge Progenitors to Ultraluminous Infrared Galaxies

High-resolution, CO(1-0) interferometry of the ultraluminous infrared galaxy IRAS 14348-1447 is presented. The merger system has a molecular gas mass of \~3x10^10 solar masses and a projected nuclear separation of 4.8 kpc (3.5"), making it one of the most molecular gas-rich galaxies known and an ideal candidate for studying the intermediate stages of an ultraluminous merger event. The CO morphology shows two molecular gas components associated with the stellar nuclei of the progenitors, consistent with the idea that the molecular disks are gravitationally bound by the dense bulges of the progenitor galaxies as the interaction proceeds. In contrast, less luminous infrared galaxies observed to date with projected nuclear separations of ~<5 kpc show a dominant CO component between the stellar nuclei. This discrepancy may be an indication that the progenitors of mergers with lower infrared luminosity do not possess massive bulges, and that the gas is stripped during the initial encounter of their progenitors. A comparison of the CO and radio luminosities of the NE and SW component show them to have comparable radio and CO flux ratios of f(NE)/f(SW) ~0.6, possibly indicating that the amount of star-forming molecular gas in the progenitors is correlated with the supernovae rate. The estimate of molecular gas masses of the nuclei and the extent of the radio emission are used to infer that the nuclei of IR 14348-1447 have gas densities comparable to the cores of elliptical galaxies.Comment: LaTex, 5 pages with 1 postscript and 1 jpg figure, ApJ Letters, in pres