The impact of family control on firm's return

Family firm is a field of growing interest. The aim of this article is to understand whether CEOs identity impacts family firm’s stock returns. From a sample of Portuguese and Spanish family firms findings show that who manages the firms result in significantly different risk exposure. Moreover, we find that the abnormal return found by Fahlenbrach (2009) to founder-controlled firms disappear when we use valueweighted portfolios and include two new factors: market aggregate illiquidity and debt intensity to the four-factor Carhart model. Finally, our results explain why the majority of family firm is controlled by its founder.

Leptonic mixing, family symmetries, and neutrino phenomenology

Tribimaximal leptonic mixing is a mass-independent mixing scheme consistent with the present solar and atmospheric neutrino data. By conveniently decomposing the effective neutrino mass matrix associated to it, we derive generic predictions in terms of the parameters governing the neutrino masses. We extend this phenomenological analysis to other mass-independent mixing schemes which are related to the tribimaximal form by a unitary transformation. We classify models that produce tribimaximal leptonic mixing through the group structure of their family symmetries in order to point out that there is often a direct connection between the group structure and the phenomenological analysis. The type of seesaw mechanism responsible for neutrino masses plays a role here, as it restricts the choices of family representations and affects the viability of leptogenesis. We also present a recipe to generalize a given tribimaximal model to an associated model with a different mass-independent mixing scheme, which preserves the connection between the group structure and phenomenology as in the original model. This procedure is explicitly illustrated by constructing toy models with the transpose tribimaximal, bimaximal, golden ratio, and hexagonal leptonic mixing patterns.

Geometric picture of generalized-CP and Higgs-family transformations in the two-Higgs-doublet model

In the two-Higgs-doublet model (THDM), generalized-CP transformations (phi(i) -> X-ij phi(*)(j) where X is unitary) and unitary Higgs-family transformations (phi(i) -> U-ij phi(j)) have recently been examined in a series of papers. In terms of gauge-invariant bilinear functions of the Higgs fields phi(i), the Higgs-family transformations and the generalized-CP transformations possess a simple geometric description. Namely, these transformations correspond in the space of scalar-field bilinears to proper and improper rotations, respectively. In this formalism, recent results relating generalized CP transformations with Higgs-family transformations have a clear geometric interpretation. We will review what is known regarding THDM symmetries, as well as derive new results concerning those symmetries, namely how they can be interpreted geometrically as applications of several CP transformations.

SiC Multilayer Structures as Light Controlled Photonic Active Filters

Tunable wavelength division multiplexing converters based on amorphous SiC multilayer photonic active filters are analyzed. The configuration includes two stacked p-i-n structures (p(a-SiC:H)-i'(a-SiC:H)-n(a-SiC:H)-p(a-SiC:H)-i(a-Si:H)-n(a-Si:H)) sandwiched between two transparent contacts. The manipulation of the magnitude is achieved through appropriated front and back backgrounds. Transfer function characteristics are studied both theoretically and experimentally. An algorithm to decode the multiplex signal is established. An optoelectronic model supports the optoelectronic logic architecture. Results show that the light-activated device combines the demultiplexing operation with the simultaneous photodetection and self-amplification of an optical signal. The output waveform presents a nonlinear amplitude-dependent response to the wavelengths of the input channels. Depending on the wavelength of the external background and irradiation side, it acts either as a short- or a long-pass band filter or as a band-stop filter. A two-stage active circuit is presented and gives insight into the physics of the device.

Optical demultiplexer based on an a-SiC:H voltage controlled device

In this paper we present results on the use of a semiconductor heterostructure based on a-SiC:H as a wavelength-division demultiplexer for the visible light spectrum. The proposed device is composed of two stacked p-i-n photodiodes with intrinsic absorber regions adjusted to short and long wavelength absorption and carrier collection. An optoelectronic characterisation of the device was performed in the visible spectrum. Demonstration of the device functionality for WDM applications was done with three different input channels covering the long, the medium and the short wavelengths in the visible range. The recovery of the input channels is explained using the photocurrent spectral dependence on the applied voltage. An electrical model of the WDM device is proposed and supported by the solution of the respective circuit equations. Short range optical communications constitute the major application field however other applications are foreseen. (C) 2010 WILEY-VCH Verlag GmbH & Co. KGaA, Weinheim.

Logic functions based on optical bias controlled SIC Tandem devices

The purpose of this paper is the design of an optoelectronic circuit based on a-SiC technology, able to act simultaneously as a 4-bit binary encoder or a binary decoder in a 4-to-16 line configurations and show multiplexer-based logical functions. The device consists of a p-i'(a-SiC:H)-n/p-i(a-Si:H)-n multilayered structure produced by PECVD. To analyze it under information-modulated wave (color channels) and uniform irradiation (background) four monochromatic pulsed lights (input channels): red, green, blue and violet shine on the device. Steady state optical bias was superimposed separately from the front and the back sides, and the generated photocurrent was measured. Results show that the devices, under appropriate optical bias, act as reconfigurable active filters that allow optical switching and optoelectronic logic functions development providing the possibility for selective removal of useless wavelengths. The logic functions needed to construct any other complex logic functions are the NOT, and both or either an AND or an OR. Any other complex logic function that might be found can also be used as building blocks to achieve the functions needed for the retrieval of channels within the WDM communication link. (C) 2014 WILEY-VCH Verlag GmbH & Co. KGaA, Weinheim

Inherently chiral calix[4]arenes with planar chirality: two new entries to the family

The synthesis of two new inherently chiral calix[4]arenes (ICCs, 1 and 2), endowed with electron-rich concave surfaces, has been achieved through the desymmetrization of a lower rim distal-bridged oxacyclophane (OCP) macrocycle. The new highly emissive ICCs were resolved by chiral HPLC, and the enantiomeric nature of the isolated antipodes proved by electronic circular dichroism (CD). Using time-dependent density functional calculations of CD spectra, their absolute configurations were established. NMR studies with (S)-Pirkle's alcohol unequivocally showed that the host-guest interactions occur in the chiral pocket comprehending the calix-OCP exo cavities and the carbazole moieties.

Biofunctional composite coating architectures based on polycaprolactone and nanohydroxyapatite for controlled corrosion activity and enhanced biocompatibility of magnesium AZ31 alloy

In this work a biofunctional composite coating architecture for controlled corrosion activity and enhanced cellular adhesion of AZ31 Mg alloys is proposed. The composite coating consists of a polycaprolactone (PCL) matrix modified with nanohydroxyapatite (HA) applied over a nanometric layer of polyetherimide (PEI). The protective properties of the coating were studied by electrochemical impedance spectroscopy (EIS), a non-disturbing technique, and the coating morphology was investigated by field emission scanning electron microscopy (FE-SEM). The results show that the composite coating protects the AZ31 substrate. The barrier properties of the coating can be optimized by changing the PCL concentration. The presence of nanohydroxyapatite particles influences the coating morphology and decreases the corrosion resistance. The biocompatibility was assessed by studying the response of osteoblastic cells on coated samples through resazurin assay, confocal laser scanning microscopy (CLSM) and scanning electron microscopy (SEM). The results show that the polycaprolactone to hydroxyapatite ratio affects the cell behavior and that the presence of hydroxyapatite induces high osteoblastic differentiation. (C) 2014 Elsevier B.V. All rights reserved.