Stock Option Compensation in Finland: An Analysis of Economic Determinants, Contracting Frequency, and Design

This paper addresses several questions in the compensation literature by examining stock option compensation practices of Finnish firms. First, the results indicate that principal-agent theory succeeds quite well in predicting the use of stock options. Proxies for monitoring costs, growth opportunities, ownership structure, and risk are found to determine the use of incentives consistent with theory. Furthermore, the paper examines whether determinants of stock options targeted to top management differ from determinants of broad-based stock option plans. Some evidence is found that factors driving these two types of incentives differ. Second, the results reveal that systematic risk significantly increases the likelihood that firms adopt stock option plans, whereas total firm risk and unsystematic risk do not seem to affect this decision. Third, the results show that growth opportunities are related to time-dimensional contracting frequency, consistent with the argument that incentive levels deviate more rapidly from optimum in firms with high growth opportunities. Finally, the results suggest that vesting schedules are decreasing in financial leverage, and that contract maturity is decreasing in firm focus. In addition, both vesting schedules and contract maturity tend to be longer in firms involving state ownership.

Impedance‐frequency characteristics of metal‐oxide‐semiconductor structures on polycrystalline silicon

This paper reports the variations in impedance with frequency of metal‐oxide‐semiconductor (MOS) structures on polycrystalline silicon. The origin of these impedance‐frequency characteristics are qualitatively explained. These characteristics indicate that the MOS structure on polycrystalline silicon can be exploited to realize voltage controlled filters.

Stability Analysis of Composite Skew Plates Using a Dynamic Method

Stability analysis is carried out considering free lateral vibrations of simply supported composite skew plates that are subjected to both direct and shear in-plane forces. An oblique stress component representation is used, consistent with the skew-geometry of the plate. A double series, expressed in Chebyshev polynomials, is used here as the assumed deflection surface and Ritz method of solution is employed. Numerical results for different combinations of side ratios, skew angle, and in-plane loadings that act individually or in combination are obtained. In this method, the in-plane load parameter is varied until the fundamental frequency goes to zero. The value of the in-plane load then corresponds to a critical buckling load. Plots of frequency parameter versus in-plane loading are given for a few typical cases. Details of crossings and quasi degeneracies of these curves are presented.

The elastic manifestation of a spin-glass transition: a low-frequency study

The authors report here the first measurements of low-frequency dynamic elastic properties of a spin glass (Fe59Ni21Cr20) across the transition temperature (Tg approximately=16 K). A minimum in the sound velocity (V) and a maximum in the internal friction (Q-1) were found at temperatures close to but below Tg. The elastic data were compared with the AC susceptibility data taken at similar frequency.

Two-dimensional NMR spectroscopy of connected transitions by linear combination of flip angle dependent cosy: An alternative scheme for E.COSY

An alternative pulse scheme which simplifies and improves the recently proposed P.E.COSY experiment is suggested for the retention of connected or unconnected transitions in a coupled spin system. An important feature of the proposed pulse scheme is the improved phase characteristics of the diagonal peaks. A comparison of various experiments designed for this purpose, namely COSY-45, E.COSY, P.E.COSY and the present scheme (A.E.COSY), is also presented. The suppression of unconnected transitions and the measurement of scalar coupling constants and their relative signs are illustrated from A.E.COSY spectra of 2,3-dibromopropionic acid and 2-(2-thienyl)pyridine.

Microscopic expression for frequency and wave vector dependent dielectric constant of a dipolar liquid

A microscopic expression for the frequency and wave vector dependent dielectric constant of a dense dipolar liquid is derived starting from the linear response theory. The new expression properly takes into account the effects of the translational modes in the polarization relaxation. The longitudinal and the transverse components of the dielectric constant show vastly different behavior at the intermediate values of the wave vector k. We find that the microscopic structure of the dense liquid plays an important role at intermediate wave vectors. The continuum model description of the dielectric constant, although appropriate at very small values of wave vector, breaks down completely at the intermediate values of k. Numerical results for the longitudinal and the transverse dielectric constants are obtained by using the direct correlation function from the mean‐spherical approximation for dipolar hard spheres. We show that our results are consistent with all the limiting expressions known for the dielectric function of matter.

On uniqueness, transfer and combination of acoustic sources in one-dimensional systems

The use of electroacoustic analogies suggests that a source of acoustical energy (such as an engine, compressor, blower, turbine, loudspeaker, etc.) can be characterized by an acoustic source pressure ps and internal source impedance Zs, analogous to the open-circuit voltage and internal impedance of an electrical source. The present paper shows analytically that the source characteristics evaluated by means of the indirect methods are independent of the loads selected; that is, the evaluated values of ps and Zs are unique, and that the results of the different methods (including the direct method) are identical. In addition, general relations have been derived here for the transfer of source characteristics from one station to another station across one or more acoustical elements, and also for combining several sources into a single equivalent source. Finally, all the conclusions are extended to the case of a uniformly moving medium, incorporating the convective as well as dissipative effects of the mean flow.

Estimating Frequencies of Minority Nevirapine-Resistant Strains in Chronically HIV-1-Infected Individuals Naive to Nevirapine by Using Stochastic Simulations and a Mathematical Model

Nevirapine forms the mainstay of our efforts to curtail the pediatric AIDS epidemic through prevention of mother-to-child transmission of HIV-1. A key limitation, however, is the rapid selection of HIV-1 strains resistant to nevirapine following the administration of a single dose. This rapid selection of resistance suggests that nevirapine-resistant strains preexist in HIV-1 patients and may adversely affect outcomes of treatment. The frequencies of nevirapine-resistant strains in vivo, however, remain poorly estimated, possibly because they exist as a minority below current assay detection limits. Here, we employ stochastic simulations and a mathematical model to estimate the frequencies of strains carrying different combinations of the common nevirapine resistance mutations K103N, V106A, Y181C, Y188C, and G190A in chronically infected HIV-1 patients naive to nevirapine. We estimate the relative fitness of mutant strains from an independent analysis of previous competitive growth assays. We predict that single mutants are likely to preexist in patients at frequencies (similar to 0.01% to 0.001%) near or below current assay detection limits (>0.01%), emphasizing the need for more-sensitive assays. The existence of double mutants is subject to large stochastic variations. Triple and higher mutants are predicted not to exist. Our estimates are robust to variations in the recombination rate, cellular superinfection frequency, and the effective population size. Thus, with 10(7) to 10(8) infected cells in HIV-1 patients, even when undetected, nevirapine-resistant genomes may exist in substantial numbers and compromise efforts to prevent mother-to-child transmission of HIV-1, accelerate the failure of subsequent antiretroviral treatments, and facilitate the transmission of drug resistance.

Electric and magnetic polarizabilities of hexagonal Ln(2)CuTiO(6)(Ln = Y, Dy, Ho, Er, and Yb)

We investigated the rare-earth transition-metal oxide series, Ln(2)CuTiO(6) (Ln = Y, Dy, Ho, Er, and Yb), crystallizing in the hexagonal structure with noncentrosymmetric P6(3)cm space group for possible occurrences of multiferroic properties. Our results show that while these compounds, except Ln = Y, exhibit a low-temperature antiferromagnetic transition due to the ordering of the rare-earth moments, the expected ferroelectric transition is frustrated by the large size difference between Cu and Ti at the B site. Interestingly, this leads these compounds to attain a rare and unique combination of desirable paraelectric properties with high dielectric constants, low losses, and weak temperature and frequency dependencies. First-principles calculations establish these exceptional properties result from a combination of two effects. A significant difference in the MO5 polyhedral sizes for M = Cu and M = Ti suppress the expected cooperative tilt pattern of these polyhedra, required for the ferroelectric transition, leading to relatively large values of the dielectric constant for every compound investigated in this series. Additionally, it is shown that the majority contribution to the dielectric constant arises from intermediate-frequency polar vibrational modes, making it relatively stable against any temperature variation. Changes in the temperature stability of the dielectric constant among different members of this series are shown to arise from changes in relative contributions from soft polar modes.

Terahertz Time Domain Spectroscopy to Detect Low-Frequency Vibrations of Double-Walled Carbon Nanotubes

We have measured the frequency-dependent real index of refraction and extinction coefficient (and hence the complex dielectric function) of a free-standing double-walled carbon nanotube film of thickness 200 nm by using terahertz time domain spectroscopy in the frequency range 0.1 to 2.5 THz. The real index of refraction and extinction coefficient have very high values of approximately 52 and 35, respectively, at 0.1 THz, which decrease at higher frequencies. Two low-frequency phonon modes of the carbon nanotubes at 0.45 and 0.75 THz were clearly observed for the first time in the real and imaginary parts of the complex dielectric function along with a broad resonance centred at around 1.45 THz, the latter being similar to that in single-walled carbon nanotubes assigned to electronic excitations. Our experiments bring out a possible application of double-walled carbon nanotube films as a neutral density filter in the THz range.

Large low-frequency resistance noise in chemical vapor deposited graphene

We report a detailed investigation of resistance noise in single layer graphene films on Si/SiO2 substrates obtained by chemical vapor deposition (CVD) on copper foils. We find that noise in these systems to be rather large, and when expressed in the form of phenomenological Hooge equation, it corresponds to Hooge parameter as large as 0.1-0.5. We also find the variation in the noise magnitude with the gate voltage (or carrier density) and temperature to be surprisingly weak, which is also unlike the behavior of noise in other forms of graphene, in particular those from exfoliation. (C) 2010 American Institute of Physics. doi:10.1063/1.3493655]

Comparative study of adaptive frequency hopping with power control to avoid WLAN interference in WPAN systems like Bluetooth

Presently Bluetooth(BT) is one of the widely used device for personal communication. As BT devices are operating in the unlicensed ISM band, they are often subjected to the interference from WLAN. The band width of BT (1MHz) is narrower compare to the bandwidth of WLAN (22MHz). So for coexistence purpose it is important to observe the performance of narrow band signal BT in presence of wideband interference WLAN and vice versa. As there are many work on the performance of WLAN in presence BT interference 3]4]5]6], the main focus in this paper is on performance of BT in presence of WLAN interference in AWGN, Rayleigh fading channel. Then comparison of the performance using interference avoidance technique like adaptive frequency hopping, power control for BT system is given. Finally a conclusion is drawn observing the simulation results on the technique which is more suitable for WLAN interference mitigation in BT system.