Vapour phase synthesis of salol over solid acids via transesterification

The transesterification of methyl salicylate with phenol has been studied in vapour phase over solid acid catalysts such as ZrO2, MoO3 and SO42- or Mo(VI) ions modified zirconia. The catalytic materials were prepared and characterized for their total surface acidity, BET surface area and powder XRD patterns. The effect of mole-ratio of the reactants, catalyst bed temperature, catalyst weight, flow-rate of reactants, WHSV and time-on-stream on the conversion (%) of phenol and selectivity (%) of salol has been investigated. A good yield (up to 70%) of salol with 90% selectivity was observed when the reactions were carried out at a catalyst bed temperature of 200 degrees C and flow-rate of 10 mL/h in presence of Mo(VI)/ZrO2 as catalyst. The results have been interpreted based on the variation of acidic properties and powder XRD phases of zirconia on incorporation of SO42- or Mo(VI) ions. The effect of poisoning of acid sites of SO42- or Mo(VI) ions modified zirconia on total surface acidity, powder XRD phases and catalytic activity was also studied. Possible reaction mechanisms for the formation of salol and diphenyl ether over acid sites are proposed.

Essays on Stock Market Reactions to New Information

A functioning stock market is an essential component of a competitive economy, since it provides a mechanism for allocating the economy’s capital stock. In an ideal situation, the stock market will steer capital in a manner that maximizes the total utility of the economy. As prices of traded stocks depend on and vary with information available to investors, it is apparent that information plays a crucial role in a functioning stock market. However, even though information indisputably matters, several issues regarding how stock markets process and react to new information still remain unanswered. The purpose of this thesis is to explore the link between new information and stock market reactions. The first essay utilizes new methodological tools in order to investigate the average reaction of investors to new financial statement information. The second essay explores the behavior of different types of investors when new financial statement information is disclosed to the market. The third essay looks into the interrelation between investor size, behavior and overconfidence. The fourth essay approaches the puzzle of negative skewness in stock returns from an altogether different angle than previous studies. The first essay presents evidence of the second derivatives of some financial statement signals containing more information than the first derivatives. Further, empirical evidence also indicates that some of the investigated signals proxy risk while others contain information priced with a delay. The second essay documents different categories of investors demonstrating systematical differences in their behavior when new financial statement information arrives to the market. In addition, a theoretical model building on differences in investor overconfidence is put forward in order to explain the observed behavior. The third essay shows that investor size describes investor behavior very well. This finding is predicted by the model proposed in the second essay, and hence strengthens the model. The behavioral differences between investors of different size furthermore have significant economic implications. Finally, the fourth essay finds strong evidence of management news disclosure practices causing negative skewness in stock returns.

Aspects of tautomerism. Part 16. Influence of the y-keto function on the reactions of sulphonic acids

Reaction of sodium 2-formylbenzenesulphonate (1) with thionyl chloride or phosphorous pentachloride gives a mixture of pseudo (2) and normal (3) sulphonyl chlorides. Whereas ammonium 2-carboxybenzenesulphonate (6) gives only the normal sulphonyl chloride (7) on reaction with thionyl chloride, a mixture of normal (7) and pseudo (8) isomers are formed on reaction with phosphorous pentachloride. Sodium 2-benzoylbenzenesulphonate (15), on the other hand, gives the corresponding normal sulphonyl chloride (16) on reaction with both of the reagents mentioned above. Based on these observations it is concluded that γ-keto sulphonic acids are amenable to the influence of γ-carbonyl group as in the case of γ-keto carboxylic acids but to a lesser extent. © 1989 Indian Academy of Sciences.

Maximum Loss Calculation using Scenario Analysis, Heavy Tails and Implied Volatility Patterns

The objective of this paper is to improve option risk monitoring by examining the information content of implied volatility and by introducing the calculation of a single-sum expected risk exposure similar to the Value-at-Risk. The figure is calculated in two steps. First, there is a need to estimate the value of a portfolio of options for a number of different market scenarios, while the second step is to summarize the information content of the estimated scenarios into a single-sum risk measure. This involves the use of probability theory and return distributions, which confronts the user with the problems of non-normality in the return distribution of the underlying asset. Here the hyperbolic distribution is used to describe one alternative for dealing with heavy tails. Results indicate that the information content of implied volatility is useful when predicting future large returns in the underlying asset. Further, the hyperbolic distribution provides a good fit to historical returns enabling a more accurate definition of statistical intervals and extreme events.

Simulation of precipitation reactions in reverse micelles

Precipitation involving mixing of two sets of reverse micellar solutions-containing a reactant and precipitant respectively-has been analyzed. Particle formation in such systems has been simulated by a Monte Carlo (MC) scheme (Li, Y.; Park, C. W. Langmuir 1999, 15, 952), which however is very restrictive in its approach. We have simulated particle formation by developing a general Monte Carlo scheme, using the interval of quiescence technique (IQ). It uses Poisson distribution with realistic, low micellar occupancies of reactants, Brownian collision of micelles with coalescence efficiency, fission of dimers with binomial redispersion of solutes, finite nucleation rate of particles with critical number of molecules, and instantaneous particle growth. With the incorporation of these features, the previous work becomes a special case of our simulation. The present scheme was then used to predict experimental data on two systems. The first is the experimental results of Lianos and Thomas (Chem. Phys. Lett. 1986, 125, 299, J. Colloid Interface Sci. 1987, 117, 505) on formation of CdS nanoparticles. They reported the number of molecules in a particle as a function of micellar size and reactant concentrations, which have been predicted very well. The second is on the formation of Fe(OH)(3) nanoparticles, reported by Li and Park. Our simulation in this case provides a better prediction of the experimental particle size range than the prediction of the authors. The present simulation scheme is general and can be applied to explain nanoparticle formation in other systems.

Effect of coordinated ions on structure and flexibility of parallel G-quadruplexes: A molecular dynamics study

ingle tract guanine residues can associate to form stable parallel quadruplex structures in the presence of certain cations. Nanosecond scale molecular dynamics simulations have been performed on fully solvated fibre model of parallel d(G(7)) quadruplex structures with Na+ or K+ ions coordinated in the cavity formed by the O6 atoms of the guanine bases. The AMBER 4.1 force field and Particle Mesh Ewald technique for electrostatic interactions have been used in all simulations. There quadruplex structures are stable during the simulation, with the middle four base tetrads showing root mean square deviation values between 0.5 to 0.8 Angstrom from the initial structure as well the high resolution crystal structure. Even in the absence of any coordinated ion in the initial structure, the G-quadruplex structure remains intact throughout the simulation. During the 1.1 ns MD simulation, one Nai counter ion from the solvent as well as several water molecules enter the central cavity to occupy the empty coordination sites within the parallel quadruplex and help stabilize the structure. Hydrogen bonding pattern depends on the nature of the coordinated ion, with the G-tetrad undergoing local structural variation to accommodate cations of different sizes. in the absence of any coordinated ion. due to strong mutual repulsion, O6 atoms within G-tetrad are forced farther apart from each other, which leads to a considerably different hydrogen bonding scheme within the G-tetrads and very favourable interaction energy between the guanine bases constituting a G-tetrad. However, a coordinated ion between G-tetrads provides extra stacking energy for the G-tetrads and makes the quadruplex structure more rigid. Na+ ions, within the quadruplex cavity, are more mobile than coordinated K+ ions. A number of hydrogen bonded water molecules are observed within the grooves of all quadruplex structures.

Acoustic emission technique for leak detection in an end shield of a pressurised heavy water reactor

This paper discusses a successful application of the Acoustic Emission Technique (AET) for the detection and location of leak paths present on an inaccessible side of an end shield of a Pressurised Heavy Water Reactor (PHWR). The methodology was based on the fact that air- and water-leak AE signals have different characteristic features. Baseline data was generated from a sound end shield of a PHWR for characterising the background noise. A mock-up end shield system with saw-cut leak paths was used to verify the validity of the methodology. It was found that air-leak signals under pressurisation (as low as 3 psi) could be detected by frequency domain analysis. Signals due to air leaks from various locations of defective end shield were acquired and analysed. It was possible to detect and locate leak paths. The presence of detected leak paths was further confirmed by an alternative test.

Asynchronous behaviour in some three-atom linear concerted radical-exchange reactions

A few simple three-atom thermoneutral radical exchange reactions (i.e. A + BC --> AB + C) are examined by ab initio SCF methods. Emphasis is laid on the detailed analysis of density matrices rather than on energetics. Results reveal that the sum of the bond orders of the breaking and forming bonds is not conserved to unity, due to development of free valence on the migrating atom 'B' in the transition state. Bond orders, free valence and spin densities on the atoms are calculated. The present analysis shows that the bond-cleavage process is always more advanced than the bond-formation process in the transition state. Further analysis shows a development of the negative spin density on the migrating atom 'B' in the transition state. The depletion of the alpha-spin density on the radical site "A" in the reactant during the reaction lags behind the growth of the alpha-spin density on the terminal atom "C" of the reactant bond, 'B-C' in the transition state. But all these processes are completed simultaneously at the end of the reaction. Hence, the reactions are asynchronous but kinetically concerted in most cases.

Hydration of ions under confinement

Molecular dynamics simulations are used to examine the changes in water density and hydration characteristics of NaCl solutions confined in slit-shaped graphitic pores. Using a structural signature, we define the hydration limit as the salt concentration at which a sharp drop in the hydration number is observed. At small pores (H = 8.0-10 angstrom), confined water does not possess bulk-like features and remains in a layered arrangement between two surfaces. Despite this high degree of confinement, ions are able to form a quasi-2D hydration shell between two surfaces. Our results indicate the strong propensity of ions to form the first hydration shell, even under extremely confined aqueous environments. The hydration of ions is seen to weakly perturb the oxygen density distributions between two surfaces. The hydration number of Na+ reduces to about 4.15 at a pore width of H = 0.8 nm, when compared with the bulk hydration number of 6.25. At larger pore widths, above H = 16 angstrom, where bulk-like water densities are observed in the central regions of the pore, the hydration number is above 6.

Reactions of coordinated bivalent tetradentate schiff-base chelates of nickel (II) and palladium (II)

Reactions of N,N′-n-propylene-bis(acetylacetoneimino) metal (II), M[n-P-(AI)2], where M=Ni(II) or Pd(II), with nitrosating reagents have been investigated. Mono- and di-nitrosated complexes were obtained selectively, depending upon the concentration of the nitrosating reagents and the reaction time. In both the cases, the γ-CH group is transformed to an ambidentate isonitroso group (>C=NOH), which coordinates to the metal ion by dislodging the already coordinated carbonyl group. The factors influencing the mode of binding of the isonitroso group have been discussed. The bromination reactions of the mono-nitrosated products of M[n-P-(AI)2] and Pd (II) complexes, Pd [E/i-P-(AI)2], where E/i-P-(AI)2 is a dianion of ethylene/i-propylene-bis (acetylacetoneimine), are also reported. The reaction products have been characterized by elemental analyses, electrical conductivity molecular weight determination, and ir, pmr and electronic spectral data.

Copper(I) promoted C---C bond forming reactions: direct activation of allyl alcohols

Allylic alcohols, acetates, carbonates and chlorides can be activated by copper(I) salts towards nucleophilic substitution by carbon nucleophiles under relatively mild conditions.