The Effect of Broadleaf Canopies on Survey-grade Horizontal GPS/GLONASS Measurements

A study was conducted to empirically determine the degradation of survey-grade GPS horizontal position measurements due to the effects of broadleaf forest canopies. The measurements were taken using GPS/GLONASS-capable receivers measuring C/A and P-codes, and carrier phase. Fourteen survey markers were chosen in central Connecticut to serve as reference markers for the study. These markers had varying degrees of sky obstruction due to overhanging tree canopies. Sky obstruction was measured by photographing the sky with a 35mm reflex camera fitted with a hemispherical lens. The negative was scanned and the image mapped using an equal- area projection to remove the distortion caused by the lens. The resulting digital image was thresholded to produce a black-and-white image in which a count of the black pixels is a measure of sky-area obstruction. The locations of the markers were determined independently before the study. During the study, each marker was occupied for four 20-minute sessions over the period of one week in mid-July, 1999. The location of the study markers produced relatively long baselines, as compared with similar studies. We compared the accuracy of GPS-only vs. GPS&GLONASS as a function of sky obstruction. Based on our results, GLONASS observations did not improve or degrade the accuracy of the position measurements. There is a loss of 2mm of accuracy per percent of sky obstruction for both GPS only and GPS&GLONASS.

Technical Efficiency and Stock Market Reaction to Horizontal Mergers

This study examines the relationship between stock market reaction to horizontal merger announcements and technical efficiency levels of the participating firms. The analysis is based on data pertaining to eighty mergers between firms in the U.S. manufacturing industry during the 1990s. We employ Data Envelopment Analysis (DEA) to measure technical efficiency, which capture the firms. competence to produce the maximum output given certain productive resources. Abnormal returns related to the merger announcements provide the investor.s re-evaluation on the future performance of the participating firms. In order to avoid the problem of nonnormality, heteroskedasticity in the regression analysis, bootstrap method is employed for estimations and inferences. We found that there is a significant relationship between technical efficiency and market response. The market apparently welcomes the merger as an arrangement to improve resource utilizations.