917 resultados para Earnings and dividend announcements, high frequency data, information asymmetry


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The paper reports newly obtained stratigraphic, petrographic, and isotope geochronology data on modern moderately acid lavas from the Keli Highland of the Greater Caucasus and presents a geological map of the territory, in which 35 volcanoes active in Late Quaternary time were documented by the authors. Total duration of volcanic activity at the highland was estimated at 250 ka. Volcanic activity was discrete and occurred in three phases: Middle Neopleistocene (245-170 ka), Late Neopleistocene (135-70 ka), and Late Neopleistocene-Holocene (<30 ka). Newly obtained lines of evidence indicate that certain volcanoes erupted in the latest Neopleistocene-Holocene. The first phase of volcanic activity was connected mainly with lava volcanoes, and eruptions during the later phases of volcanic activity in this part of the Greater Caucasus produced mainly lavas. The most significant eruptions are demonstrated to occur in the territory during the second phase. The major evolutionary trends of volcanic processes during the final phase in the Keli Highland are determined. It was also determined that overwhelming majority of volcanoes that were active less than 30 ka BP are spatially restricted to long-liven local magmatic zones, which were active during either all three or only the final two phases of activity. These parts of the territory are, perhaps, the most hazardous in terms of volcanic activity.

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Deep ocean circulation has been considered relatively stable during interglacial periods, yet little is known about its behavior on submillennial time scales. Using a subcentennially resolved epibenthic foraminiferal d13C record we show that North Atlantic Deep Water (NADW) influence was strong at the onset of the last interglacial period and then interrupted by several prominent, centennial-scale reductions. These NADW transients occurred during periods of increased ice rafting and southward expansions of polar water influence, suggesting that a buoyancy threshold for convective instability was triggered by freshwater and circum-Arctic cryosphere changes. The deep Atlantic chemical changes were similar in magnitude to those associated with glaciations, implying that the canonical view of a relatively stable interglacial circulation may not hold for conditions warmer/fresher than at present.

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During the past five million yrs, benthic d18O records indicate a large range of climates, from warmer than today during the Pliocene Warm Period to considerably colder during glacials. Antarctic ice cores have revealed Pleistocene glacial-interglacial CO2 variability of 60-100 ppm, while sea level fluctuations of typically 125 m are documented by proxy data. However, in the pre-ice core period, CO2 and sea level proxy data are scarce and there is disagreement between different proxies and different records of the same proxy. This hampers comprehensive understanding of the long-term relations between CO2, sea level and climate. Here, we drive a coupled climate-ice sheet model over the past five million years, inversely forced by a stacked benthic d18O record. We obtain continuous simulations of benthic d18O, sea level and CO2 that are mutually consistent. Our model shows CO2 concentrations of 300 to 470 ppm during the Early Pliocene. Furthermore, we simulate strong CO2 variability during the Pliocene and Early Pleistocene. These features are broadly supported by existing and new d11B-based proxy CO2 data, but less by alkenone-based records. The simulated concentrations and variations therein are larger than expected from global mean temperature changes. Our findings thus suggest a smaller Earth System Sensitivity than previously thought. This is explained by a more restricted role of land ice variability in the Pliocene. The largest uncertainty in our simulation arises from the mass balance formulation of East Antarctica, which governs the variability in sea level, but only modestly affects the modeled CO2 concentrations.

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The recent development of in-situ monitoring devices, such as UV-spectrometers, makes the study of short-term stream chemistry variation relevant, especially the study of diurnal cycles, which are not yet fully understood. Our study is based on high-frequency data from an agricultural catchment (Studienlandschaft Schwingbachtal, Germany). We propose a novel approach, i.e. the combination of cluster analysis and Linear Discriminant Analysis, to mine from these data nitrate behavior patterns. As a result, we observe a seasonality of nitrate diurnal cycles, that differs from the most common cycle seasonality described in the literature, i.e. pre-dawn peaks in spring. Our cycles appear in summer and the maximum and minimum shift to a later time in late summer/autumn. This is observed both for water- and energy-limited years, thus potentially stressing the role of evapotranspiration. This concluding hypothesis on the role of evapotranspiration on nitrate stream concentration, which was obtained through data mining, broadens the perspective on the diurnal cycling of stream nitrate concentrations.