Layoff and Employment Guarantee Announcements: How Do Shareholders Respond?

Event study methodology was used to assess the effects of both layoff and employment guarantee announcements on shareholder returns. The Wall Street Journal was used to identify 368 firms that announced layoffs and 13 firms that announced employment guarantees in 1993 or 1994. The results were used to test the validity of four hypotheses: labor-cost, efficiency, industrial-relation-effect, and signalling-effect hypotheses. The results show that both layoff announcements and employment guarantee announcements induced a decrease in the shareholder returns of the firms that made the announcements. Each of the above four models received partial support.layoffs; downsizing; event study; employment guarantee

Light from the Darkness: Detecting Ultra-diffuse Galaxies in the Perseus Cluster through Over-densities of Globular Clusters with a Log-Gaussian Cox Process

We introduce a new method for detecting ultra-diffuse galaxies by searching for over-densities in intergalactic globular cluster populations. Our approach is based on an application of the log-Gaussian Cox process, which is a commonly used model in the spatial statistics literature but rarely used in astronomy. This method is applied to the globular cluster data obtained from the PIPER survey, a Hubble Space Telescope imaging program targeting the Perseus cluster. We successfully detect all confirmed ultra-diffuse galaxies with known globular cluster populations in the survey. We also identify a potential galaxy that has no detected diffuse stellar content. Preliminary analysis shows that it is unlikely to be merely an accidental clump of globular clusters or other objects. If confirmed, this system would be the first of its kind. Simulations are used to assess how the physical parameters of the globular cluster systems within ultra-diffuse galaxies affect their detectability using our method. We quantify the correlation of the detection probability with the total number of globular clusters in the galaxy and the anticorrelation with increasing half-number radius of the globular cluster system. The Sérsic index of the globular cluster distribution has little impact on detectability

Astrophysical implications of hypothetical stable TeV-scale black holes

We analyze macroscopic effects of TeV-scale black holes, such as could possibly be produced at the LHC, in what is regarded as an extremely hypothetical scenario in which they are stable and, if trapped inside Earth, begin to accrete matter. We examine a wide variety of TeV-scale gravity scenarios, basing the resulting accretion models on first-principles, basic, and well-tested physical laws. These scenarios fall into two classes, depending on whether accretion could have any macroscopic effect on the Earth at times shorter than the Sun's natural lifetime. We argue that cases with such effect at shorter times than the solar lifetime are ruled out, since in these scenarios black holes produced by cosmic rays impinging on much denser white dwarfs and neutron stars would then catalyze their decay on timescales incompatible with their known lifetimes. We also comment on relevant lifetimes for astronomical objects that capture primordial black holes. In short, this study finds no basis for concerns that TeV-scale black holes from the LHC could pose a risk to Earth on time scales shorter than the Earth's natural lifetime. Indeed, conservative arguments based on detailed calculations and the best-available scientific knowledge, including solid astronomical data, conclude, from multiple perspectives, that there is no risk of any significance whatsoever from such black holes.Comment: Version2: Minor corrections/fixed typos; updated reference

GEMS: Galaxy fitting catalogues and testing parametric galaxy fitting codes

In the context of measuring structure and morphology of intermediate redshift galaxies with recent HST/ACS surveys, we tune, test, and compare two widely used fitting codes (GALFIT and GIM2D) for fitting single-component Sersic models to the light profiles of both simulated and real galaxy data. We find that fitting accuracy depends sensitively on galaxy profile shape. Exponential disks are well fit with Sersic models and have small measurement errors, whereas fits to de Vaucouleurs profiles show larger uncertainties owing to the large amount of light at large radii. We find that both codes provide reliable fits and little systematic error, when the effective surface brightness is above that of the sky. Moreover, both codes return errors that significantly underestimate the true fitting uncertainties, which are best estimated with simulations. We find that GIM2D suffers significant systematic errors for spheroids with close companions owing to the difficulty of effectively masking out neighboring galaxy light; there appears to be no work around to this important systematic in GIM2D's current implementation. While this crowding error affects only a small fraction of galaxies in GEMS, it must be accounted for in the analysis of deeper cosmological images or of more crowded fields with GIM2D. In contrast, GALFIT results are robust to the presence of neighbors because it can simultaneously fit the profiles of multiple companions thereby deblending their effect on the fit to the galaxy of interest. We find GALFIT's robustness to nearby companions and factor of >~20 faster runtime speed are important advantages over GIM2D for analyzing large HST/ACS datasets. Finally we include our final catalog of fit results for all 41,495 objects detected in GEMS.Comment: Accepted for publication in ApJS October 2007, v172n2; 25 pages, 16 Figures, 9 Tables; for hi-resolution version, see http://www.mpia.de/homes/bhaeussl/galaxy_fitting.pdf. For results, catalogues and files for code-testing, see http://www.mpia.de/GEMS/fitting_paper.htm

Intergalactic Magnetic Fields from Quasar Outflows

Outflows from quasars inevitably pollute the intergalactic medium (IGM) with magnetic fields. The short-lived activity of a quasar leaves behind an expanding magnetized bubble in the IGM. We model the expansion of the remnant quasar bubbles and calculate their distribution as a function of size and magnetic field strength at different redshifts. We generically find that by a redshift z=3, about 5-20% of the IGM volume is filled by magnetic fields with an energy density >10% of the mean thermal energy density of a photo-ionized IGM (at T=10^4 K). As massive galaxies and X-ray clusters condense out of the magnetized IGM, the adiabatic compression of the magnetic field could result in the field strength observed in these systems without a need for further dynamo amplification. The intergalactic magnetic field could also provide a nonthermal contribution to the pressure of the photo-ionized gas that may account for the claimed discrepancy between the simulated and observed Doppler width distributions of the Ly-alpha forest.Comment: 40 pages, 8 figures, submitted to Ap

A Common Network of Functional Areas for Attention and Eye Movements

AbstractFunctional magnetic resonance imaging (fMRI) and surface-based representations of brain activity were used to compare the functional anatomy of two tasks, one involving covert shifts of attention to peripheral visual stimuli, the other involving both attentional and saccadic shifts to the same stimuli. Overlapping regional networks in parietal, frontal, and temporal lobes were active in both tasks. This anatomical overlap is consistent with the hypothesis that attentional and oculomotor processes are tightly integrated at the neural level

py4DSTEM: a software package for multimodal analysis of four-dimensional scanning transmission electron microscopy datasets

Scanning transmission electron microscopy (STEM) allows for imaging, diffraction, and spectroscopy of materials on length scales ranging from microns to atoms. By using a high-speed, direct electron detector, it is now possible to record a full 2D image of the diffracted electron beam at each probe position, typically a 2D grid of probe positions. These 4D-STEM datasets are rich in information, including signatures of the local structure, orientation, deformation, electromagnetic fields and other sample-dependent properties. However, extracting this information requires complex analysis pipelines, from data wrangling to calibration to analysis to visualization, all while maintaining robustness against imaging distortions and artifacts. In this paper, we present py4DSTEM, an analysis toolkit for measuring material properties from 4D-STEM datasets, written in the Python language and released with an open source license. We describe the algorithmic steps for dataset calibration and various 4D-STEM property measurements in detail, and present results from several experimental datasets. We have also implemented a simple and universal file format appropriate for electron microscopy data in py4DSTEM, which uses the open source HDF5 standard. We hope this tool will benefit the research community, helps to move the developing standards for data and computational methods in electron microscopy, and invite the community to contribute to this ongoing, fully open-source project

In Situ Probes of the First Galaxies and Reionization: Gamma-ray Bursts

The first structures in the Universe formed at z>7, at higher redshift than all currently known galaxies. Since GRBs are brighter than other cosmological sources at high redshift and exhibit simple power-law afterglow spectra that is ideal for absorption studies, they serve as powerful tools for studying the early universe. New facilities planned for the coming decade will be able to obtain a large sample of high-redshift GRBs. Such a sample would constrain the nature of the first stars, galaxies, and the reionization history of the Universe.Comment: 8 pages, 3 figures, science white paper submitted to the US Astro2010 Decadal Surve