Information acquisition and disclosure by firms in the presence of additional available information

In this paper we analyze a model which addresses two stylized facts which have received little attention in disclosure theory. (a) Information that is acquired for internal decision-making can subsequently be disclosed to outside investors who can use it to update their assessment of the firm’s prospects. Thus, the decision to gather information in the first place does not only depend on the decision value of information. (b) Information disclosed by firms is only one element of the information environment upon which investors can draw. This setting creates an interaction between firms’ information gathering and disclosure decisions as well as alternative sources of information. We identify an equilibrium structure which we call a Countersignaling equilibrium in which only average firms acquire information whereas good and bad firms do not. We show that while several equilibria can coexist, a Countersignaling equilibrium is often the economically most efficient one.     

Trees in tournaments

Letf(n) be the smallest integer such that every tournament of orderf(n) contains every oriented tree of ordern. Sumner has just conjectures thatf(n)=2n–2, and F. K. Chung has shown thatf(n)(1+o(1))nlog₂ n. Here we show thatf(n)12n andf(n)(4+o(1))n.     

Efficiency enhancement of Cu(In,Ga)Se2 thin‐film solar cells by a post‐deposition treatment with potassium fluoride

Alkali‐free Cu(In,Ga)Se₂(CIGS) absorbers grown on Mo‐coated alumina (Al₂O₃) substrates were doped with potassium (K) after CIGS growth by a potassium fluoride (KF) post‐deposition treatment (PDT). The addition of K to the absorber leads to a strong increase in cell efficiency from 10.0% for the K‐free cell to 14.2% for the K‐doped cell, mainly driven by an increase in the open‐circuit voltage V_oc and the fill factor FF, and to an increase in the net charge carrier density. Hence K doping by KF‐PDT is comparable to doping with Na.

     

Applications of molecular dynamics methods to low energy ion beams and film deposition processes

Abstract

Molecular dynamics methods are used to model the impingement of low energy ions onto crystalline targets, and the effects of these beams on thin film deposition. Simulations of the deposition of silicon films show that the structure of deposits can often be improved by the use of low energy ion beams instead of the conventional thermal beam. We examine the influence of beam energy on the formation of amorphous or crystalline deposits. The influence of ion beams on surface diffusion rates and the interdiffusion between atomic layers near the surface are also considered. Cluster deposition is treated, and the results suggest that cluster beams would be effective for depositing smooth films of materials that do not wet the substrate. We discuss the use of special purpose computers and signal processing boards to extend the time scales of molecular dynamics simulations. Rapid advances in computer hardware, algorithms, and the development of accurate interatomic potentials are dramatically increasing the power of these simulations.     

An experimental survey of a posteriori Courant finite element error control for the Poisson equation

This comparison of some a posteriori error estimators aims at empirical evidence for a ranking of their performance for a Poisson model problem with conforming lowest order finite element discretizations. Modified residual-based error estimates compete with averaging techniques and two estimators based on local problem solving. Multiplicative constants are involved to achieve guaranteed upper and lower energy error bounds up to higher order terms. The optimal strategy combines various estimators.     

Scaling Limits and Critical Behaviour of the 4-Dimensional n-Component |\varphi |^4 Spin Model

We consider the \(n\) -component \(|\varphi |^4\) spin model on \({\mathbb {Z}}^4\) , for all \(n \ge 1\) , with small coupling constant. We prove that the susceptibility has a logarithmic correction to mean field scaling, with exponent \(\frac{n+2}{n+8}\) for the logarithm. We also analyse the asymptotic behaviour of the pressure as the critical point is approached, and prove that the specific heat has fractional logarithmic scaling for \(n =1,2,3\) ; double logarithmic scaling for \(n=4\) ; and is bounded when \(n>4\) . In addition, for the model defined on the \(4\) -dimensional discrete torus, we prove that the scaling limit as the critical point is approached is a multiple of a Gaussian free field on the continuum torus, whereas, in the subcritical regime, the scaling limit is Gaussian white noise with intensity given by the susceptibility. The proofs are based on a rigorous renormalisation group method in the spirit of Wilson, developed in a companion series of papers to study the 4-dimensional weakly self-avoiding walk, and adapted here to the \(|\varphi |^4\) model.     

A novel methodological approach for δ18O analysis of sugars using gas chromatography-pyrolysis-isotope ratio mass spectrometry

Although the instrumental coupling of gas chromatography-pyrolysis-isotope ratio mass spectrometry (GC-Py-IRMS) for compound-specific δ¹⁸O analysis has been commercially available for more than a decade, this method has been hardly applied so far. Here we present the first GC-Py-IRMS δ¹⁸O results for trimethylsilyl-derivatives of plant sap-relevant sugars and a polyalcohol (glucose, fructose, sucrose, raffinose and pinitol). Particularly, we focus on sucrose, which is assimilated in leaves and which is the most important transport sugar in plants and hence of utmost relevance in plant physiology and paleoclimate studies. Replication measurements of sucrose standards and concentration series indicate that the GC-Py-IRMS δ¹⁸O measurements are not stable over time and that they are amount (area) dependent. We, therefore, suggest running sample batch replication measurements in alternation with standard concentration series of reference material. This allows for carrying out (i) a drift correction, (ii) a calibration against reference material and (iii) an amount (area) correction. Tests with ¹⁸O-enriched water do not provide any evidence for oxygen isotope exchange reactions affecting sucrose and raffinose. We present the first application of GC-Py-IRMS δ¹⁸O analysis for sucrose from needle extract (soluble carbohydrate) samples. The obtained δ¹⁸O_{sucrose/ Vienna Standard Mean Ocean Water (VSMOW)} values are more positive and vary in a wider range (32.1–40.1 ‰) than the δ¹⁸O_{bulk/ VSMOW} values (24.6–27.2 ‰). Furthermore, they are shown to depend on the climate parameters maximum day temperature, relative air humidity and cloud cover. These findings suggest that δ¹⁸O_sucrose of the investigated needles very sensitively reflects the climatically controlled evaporative ¹⁸O enrichment of leaf water and thus highlights the great potential of GC-Py-IRMS δ¹⁸O_sucrose analysis for plant physiology and paleoclimate studies.