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Media coverage and the cost of equity capital around the world
Get PDFUsing a sample of 38 countries, our study is the first to show on a global scale that the relation between media coverage and implied cost of equity capital (ICOC) is negative and both statistically and economically significant. On average, a one-unit increase in media coverage (approximately two news articles) leads to a 0.38% decrease in ICOC. This effect hinges on the degree of press freedom in the reporting country and the credibility of specific media outlets. The effect is more pronounced in countries with less developed capital markets but greater US media penetration. Furthermore, firms with higher information asymmetry or weaker corporate governance experience a stronger impact of media coverage on ICOC. Positive news coverage encourages firms to invest more and use less debt, while negative news coverage has opposite influences. Finally, the release of media news is associated with reduced option-implied volatility
The container drayage problem for electric trucks with charging resource constraints
Get PDFAmidst the ongoing green transformation in transportation, the electrification of trucks has emerged as a pivotal strategy to address climate-related issues. This paper introduces the container drayage problem for electric trucks, considering the charging resource constraints. Electric trucks are assigned to serve a series of origindestination tasks between terminals and customers. Each truck can opt between battery swapping and two charging modes: normal and fast, each featuring a nonlinear charging process. The paper addresses the charging queueing problem arising from limitations in charging resources, presenting a novel mixed integer programming model tailored to container drayage challenges for electric trucks. To tackle this challenging problem, we propose an enhanced adaptive large neighborhood search algorithm that integrates an exact method. In the first stage, routes are generated based on customized procedures without considering queueing charging to minimize overall operation costs. The second stage is triggered by the call frequency and condition coefficient, utilizing CPLEX to optimize further queueing charging strategies. The algorithm is applied to instances based on real-world task data obtained from logistics companies. A series of comparative experiments are conducted to validate the efficacy and ascertain the parameter configuration of the algorithm. Furthermore, we examine the influence of charge levels and numbers of replaceable batteries on overall expenses and conduct a comprehensive analysis of the application influence of electric trucks compared to conventional fuel trucks in terms of cost and emissions
Aluminum-Rich Molecular Sieve Interface Regulating Electron-Enriched Mn-O-Ce Active Sites for Environmental Catalysis
Get PDFThe improvement of low-temperature catalytic activity still remains a paramount scientific challenge in environmental catalysis. To address this issue, an aluminum-rich molecular sieve interface regulating electron-enriched Mn-O-Ce active sites for highly efficient environmental catalysis has been demonstrated. Specifically, the surface aluminum-rich hollow ZSM-5 zeolites are constructed through dissolution-recrystallization and coupled with MnCeOx composites owning strong redox properties to amplify contact between acidic and active sites that manipulate effective environmental catalytic reactions. Taking the selective catalytic reduction of nitrogen oxide (NOx) as a probing reaction, the engineered Al-rich interface significantly facilitates the electron transfer from ZSM-5 zeolite to MnCeOx composite, creating electron-enriched Mn-O-Ce active sites that artfully establish adjacent centers for reactant molecules adsorption and activation: Mn-end of Mn-O-Ce sites for NOx coordination and Ce-end of Mn-O-Ce sites for partial ammonia (NH3) adsorption to achieve superior catalytic activity and selectivity below 150 °C. Concurrently, the modulated zeolite-metal oxide interface with electron-enriched Mn-O-Ce active sites and sufficient Brønsted acid sites also demonstrates exceptional efficiency in synergistic removal of nitrogen oxide with representative volatile organic compounds. Beyond superior multifunctional catalytic performance, this work pioneers interfacial electron engineering as a universal strategy to design advanced functional materials for efficient environmental catalysis.</p
Emerging optical imaging of three-dimensional cellular-scale mechanics in mechanobiology
Get PDFMechanobiology is unveiling the pivotal role that cellular mechanics plays in cell fate determination and the regulation of various cell functions, including in development, homeostasis, and disease. These discoveries are now being integrated into the unified multiscale models of many biological systems. It has long been recognized that, to support these endeavors, we must quantify mechanics in situ and on the cellular scale in living three-dimensional biological systems. However, such capabilities have only recently become available by means of optical imaging. This perspective outlines the challenges and opportunities in measuring mechanical properties with optics, including Brillouin microscopy, optical coherence elastography, and other emerging optical methods. These technologies are now primed to provide valuable quantitative insights, and key demonstrations in cell mechanobiology are emerging. Continued focus on further developments, impactful demonstrations, and rapid commercialization will establish these methods as powerful next-generation platforms for discovery
Long-term Effects of an Elite Traditional International School Education on Global Citizenship
No full textBinary branching processes with Moran type interactions
Get PDFThe aim of this paper is to study the large population limit of a new collection of interacting particle systems (IPS) that encompasses branching models and fixed size Moran type IPS (see (J. Phys. A 29 (1996) 2633–2642); (Comm. Math. Phys. 214 (2000) 679–703); (Feynman–Kac Formulae: Genealogical and Interacting Particle Systems with Applications (2004) Springer-Verlag); (Mean Field Simulation for Monte Carlo Integration (2013) CRC Press); (ESAIM Probab. Stat. 18 (2014) 441–467)). We define an IPS where particles evolve, reproduce and die independently and, with a probability that may depend on the configuration of the whole system, the death of a particle may trigger the reproduction of another particle, while a branching event may trigger the death of an other one. We study the occupation measure of the new model, explicitly relating it to the Feynman–Kac semigroup of the underlying Markov evolution and quantifying the L 2 distance between their normalisations. We show that our model outperforms the fixed size Moran type IPS when used to approximate a birth and death process. We discuss several other applications of our model including the neutron transport equation (Cox et al. (2020); Stochastic Neutron Transport and Non-local Branching Markov Processes (2023) Birkhäuser) and population size dynamics.</p
Tracking of Bristle Tip Deflections to Demonstrate Blow-Down in Brush Seals
Get PDFSealing in gas turbines is paramount to overall performance and efficiency. Brush seals offer superior performance compared to other sealing solutions commonplace in modern turbomachinery. When subjected to a pressure load, a ring of flexible fine wire bristles—fitted at a lay angle to the radial plane—compact to resist the oncoming flow and deflect towards the rotor in a process known as blow-down. This study employs Digital Image Correlation (DIC) to track individual bristle tips in three spatial axes throughout a large-scale brush seal test facility. This is the first-time direct measurements of blow-down throughout the bristle pack have been presented, providing a unique insight into the mechanical behavior of brush seals. Increased magnitudes of blow-down and axial bristle deflection were demonstrated in upstream bristle rows and at larger clearances. Analysis of these results in conjunction with the interrogation of the inter-bristle pressure field proved that blow-down is more prevalent for pressure relieving (PR) brush seals in comparison to conventional configurations. The reduction in the through-flow clearance area resulted in a significant enhancement in sealing performance for a clearance seal, highlighting a key advantage of the pressure relieving back plate design
Cosmopolitanism and its aftermath:The rise and fall of Greek and Turkish business in Alexandria
Get PDFThis article explores the rise and fall of Greek and Turkish business and commerce in Alexandria, Egypt. As the existing literature alerts us, shifting forms of colonial rule made for a complex and multifaceted cosmopolitanism, in which each community secured a distinct economic space. In part, this was due to the insertion of Alexandria into the growing world economy of the nineteenth century, which allowed for both the rise of modern businesses in trade and manufacturing, and a resurgence of quasi feudal, yet export orientated, forms of agricultural production; we evaluate this process through recourse to state and private sector archives. It is concluded that neither community was able to survive the rise of Egyptian nationalism and the diminishing space it allotted to ethnic business. We explore the implications of these findings for the study of business, cosmopolitanism and decosmopolitanization.</p
A Typology of US Parents' Mental Loads:Core and Episodic Cognitive Labor
Get PDFObjectiveThis article examines whether domestic cognitive labor functions like other forms of domestic labor as a means to “do gender.”BackgroundDomestic cognitive labor is increasingly conceptualized as the invisible thinking work associated with childcare and housework. A critical question for this growing literature is the gender distribution of cognitive labor tasks: do women do it all, or does domestic cognitive labor follow similar patterns to other forms of domestic physical labor (e.g., childcare and housework), cleaving by separate spheres of activity? In this regard, is domestic cognitive labor another way parents “do gender” at home?MethodsApplying unique survey data from a sample of US parents (N = 3000), we assess a 21-item battery measuring different domestic cognitive labor tasks. We first apply exploratory factor analysis and confirmatory factor analysis to identify whether domestic cognitive labor holds underlying constructs. Second, we estimate whether gender differences in these indices are robust in regression models net of a range of sociodemographic factors.ResultsWe identify that domestic cognitive labor, like other forms of domestic labor, forms two distinct facets, with mothers holding the bulk of the core Daily tasks related to family well-being and fathers holding the Episodic tasks related to maintenance and finances. Further, we document that, consistent with previous housework literature, question wording structures parents' reported contributions by gender.ConclusionUltimately, our study expands our theoretical, conceptual, and methodological understanding of domestic cognitive labor and points to the value of “doing gender” perspectives
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