Tax Reform and Payout Policy:Do Shareholder Clienteles or Payout Policy Adjust?

Changes in taxation of corporate dividends offer excellent opportunities to study dividend clientele effects. We explore payout policies and ownership structures around a major tax reform that took place in Finland in 2004. Consistent with dividend clienteles affecting firms’ dividend policy decisions, we find that Finnish firms altered their dividend policies based on the changed tax incentives of their largest shareholders. While firms adjust their payout policies, our results also indicate that ownership structures of Finnish firms also changed around the 2004 reform, consistent with shareholder clienteles adjusting to the new tax system.

A Wavelet based Teager Energy Operator for Spike Detection in Microelectrode Array Recordings

Spike detection in neural recordings is the initial step in the creation of brain machine interfaces. The Teager energy operator (TEO) treats a spike as an increase in the `local' energy and detects this increase. The performance of TEO in detecting action potential spikes suffers due to its sensitivity to the frequency of spikes in the presence of noise which is present in microelectrode array (MEA) recordings. The multiresolution TEO (mTEO) method overcomes this shortcoming of the TEO by tuning the parameter k to an optimal value m so as to match to frequency of the spike. In this paper, we present an algorithm for the mTEO using the multiresolution structure of wavelets along with inbuilt lowpass filtering of the subband signals. The algorithm is efficient and can be implemented for real-time processing of neural signals for spike detection. The performance of the algorithm is tested on a simulated neural signal with 10 spike templates obtained from [14]. The background noise is modeled as a colored Gaussian random process. Using the noise standard deviation and autocorrelation functions obtained from recorded data, background noise was simulated by an autoregressive (AR(5)) filter. The simulations show a spike detection accuracy of 90%and above with less than 5% false positives at an SNR of 2.35 dB as compared to 80% accuracy and 10% false positives reported [6] on simulated neural signals.

On the momentum balance in linear-combination models for the transition zone

The momentum balance of the linear-combination integral model for the transition zone is investigated for constant pressure flows. The imbalance is found to be small enough to be negligible for all practical purposes. [S0889-504X(00)00703-0].

Scientometric analysis of some disciplines: Comparison of Indian institutions with other international institutions

We have carried out a three-part study comparing the research performance of Indian institutions with that of other international institutions. In the first part, the publication profiles of various Indian institutions were examined and ranked based on the h-index and p-index. We found that the institutions of national importance contributed the highest in terms of publications and citations per institution. In the second part of the study, we looked at the publication profiles of various Indian institutions in the high-impact journals and compared these profiles against that of the top Asian and US universities. We found that the number of papers in these journals from India was miniscule compared to the US universities. Recognizing that the publication profiles of various institutions depend on the field/departments, we studied the publication profiles of many science and engineering departments at the Indian Institute of Science (IISc), Bangalore, the Indian Institutes of Technology, as well as top Indian universities. Because the number of faculty in each department varies widely, we have computed the publications and citations per faculty per year for each department. We have also compared this with other departments in various Asian and US universities. We found that the top Indian institution based on various parameters in various disciplines was IISc, but overall even the top Indian institutions do not compare favourably with the top US or Asian universities.

Flocculation, filtration and selective flocculation studies on haematite ore fines using starch

The flocculation and filtration characteristics of typical Indian iron ore fines have been studied using starch as flocculant in the presence of an inorganic electrolyte, namely calcium chloride. The effect of various parameters such as pH, starch and calcium chloride concentrations and pulp density on the settling and filtration rates, turbidity of the supernatant and on residual starch and calcium ion concentrates has been investigated through a statistical design and analysis approach and subsequently optimised on a laboratory scale. The adsorption mechanisms of starch onto haematite have been elucidated through adsorption density measurements, infrared and X-ray photoelectron spectroscopic techniques. The rheological property of the polymer solutions of relevance to flocculations has also been investigated. Further, the role of metal ion-starch interactions in the bulk solution, has been studied. In order to understand the nature of polymer adsorption at the double-layer, electrokinetic studies have been carried out with the iron ore mineral samples using starch and calcium chloride. Based on the above findings, selective floculaation tests on artificial mixtures of iron ore minerals have been carried out to determine the separation efficiencies from the view point of alumina and silica removal from haematite as well as the control of alumina: silica ratio in Indian iron ores.

Homeostatic regulation of free retinol-binding protein and free thyroxine pools of plasma by their plasma carrier proteins in chicken

The mechanism underlying homeostatic regulation of the plasma levels of free retinol-binding protein and free thyroxine, the systemic distribution of which is of great importance, has been investigated. A simple method has been developed to determine the rate of dissociation of a ligand from the binding protein. Analysis of the dissociation process of retinol-binding protein from prealbumin-2 reveals that the free retinol-binding protein pool undergoes massive flux, and the prealbumin-2 participates in homeostatic regulation of the free retinol-binding protein pool. Studies on the dissociation process of thyroxine from its plasma carrier proteins show that the various plasma carrier proteins share two roles. Of the two types of protein, the thyroxine-binding globulin (the high affinity binding protein) contributes only 27% of the free thyroxine in a rapid transition process, despite its being the major binding protein. But prealbumin-2, which has lower affinity towards thyroxine, participates mainly in a rapid flux of the free thyroxine pool. Thus thyroxine-binding globulin acts predominantly as a plasma reservoir of thyroxine, and also probably in the �buffering� action on plasma free thyroxine level, in the long term, while prealbumin-2 participates mainly in the maintainance of constancy of free thyroxine levels even in the short term. The existence of these two types of binding protein facilitates compensation for the metabolic flux of the free ligand and maintenance of the thyroxine pool within a very narrow range.

Gonadal cell surface receptor for plasma retinol-binding protein A method for its radioassay and studies on its level during spermatogenesis

A specific membrane receptor for plasma retinol-binding protein has been demonstrated in testicular cells. Prealbumin-2 did not show any specific binding to the membrane. The affinity of retinol-binding protein for receptor drastically decreases upon delivery of retinol and the retinol-binding protein does not enter the cell. The mechanism of delivery of retinol to the target cell by plasma retinol-binding protein has been investigated. The process involves two steps: direct binding of retinol-binding protein to the receptor and uptake of retinol by the target cell with a concomitant drastic reduction in the affinity of the retinol-binding protein to the receptor. Probably the second step of the process needs a cytosolic factor, possibly the cellular retinol-binding protein or an enzyme.The binding of retinol-binding protein to the receptor is saturable and reverible. The interaction shows a Kd value of 2.1 · 10−10 M. The specific binding of a retinol-binding protein with great affinity has been employed in the development of a method for radioassay of the receptor. The receptor level of the gonadal cell has been found to vary with the stage of differentiation. The receptor concentrations in 11-week-old birds and adult birds are comparable. Testoterone treatment of 11-week-old birds produced a substantial increase in the receptor concentration over control, while the protein content increased marginally, indicating that, probably, synthesis of the receptor is specifically induced by testoterone during spermatogenesis, and the concentration of receptor is relatively higher before the formation of the acrosome.

A Microscopic Theory of the f.c.c.-b.c.c. Interface .

We present a first-principles theory of the equilibrium b.c.c.-f.c.c. interface at coexistence using the density functional method. We assume that the interfacial region has local body-centred tetragonal (b.c.t.) symmetry and predict typical interfacial widths to be of order 2 to 3 lattice spacings with typical energies close to 0.05 J/m2. These quantities are in good agreement with laboratory measurements on coherent interfaces.

Potential herblayer production and grazing effects in anthropogenic savanna-grasslands in the moist tropical forests of the Western Ghats of India

The moist tropical forests of the Western Ghats of India are pockmarked with savanna-grasslands created and managed by local agricultural communities. A sample of such savanna-grasslands with differing growing conditions was studied in terms of peak above-ground biomass, monthly growth, and cumulative production under different clipping treatments. The herblayer was found to be dominated by perennial C4 grasses, with Eulalia trispicata, Arundinella metzii and Themeda triandra being common to all sites. Peak biomass ranged between 3.3-5.9 t/ha at sites most favourable for grass production. Across these sites, peak biomass was found to be inversely related to the number of rainy days during the growing season, suggesting that growth may be light-limited. This hypothesis is supported by the observation that growth is most rapid immediately after the easing of the monsoon. Single clips early in the growing season had no negative or a slightly positive effect on production, but mid-season single clips or continuous frequent clipping reduced production by as much as 40%. The results suggest that, while indiscriminate grazing may certainly be deleterious, it is possible to obtain sustained high yields from forest lands managed for grass production without totally excluding grazing.

Mapping of B-cell epitopes of hemagglutinin protein of rinderpest virus

Monoclonal antibodies (mAbs) against secreted hemagglutinin (H) protein of rinderpest virus (RPV) expressed by a recombinant baculovirus were generated to characterize the antigenic sites on H protein and regions of functional significance. Three of the mAbs displayed hemagglutination inhibition activity and these mAbs were unable to neutralize virus infectivity. Western immunoblot analysis of overlapping deletion mutants indicated that three mAbs recognize antigenic regions at the extreme carboxy terminus (between amino acids 569 and 609) and the fourth mAb between amino acids 512 and 568. Using synthetic peptides, aa 569-577 and 575-583 were identified as the epitopes for E2G4 and D2F4, respectively. The epitopic domains of A12A9 and E2B6 mAbs were mapped to regions encompassing aa 527-554 and 588-609. Two epitopes spanning the extreme carboxy terminal region of aa 573 to 587 and 588 to 609 were shown to be immunodominant employing a competitive ELISA with polyclonal sera form vaccinated cattle. The D2F4 mAb which recognizes a unique epitope on RPV-H is not present on the closely related peste des petits ruminant virus FIN protein and this mAb could serve as a tool in the seromonitoring program after rinderpest vaccination. (C) 2002 Elsevier Science (USA).

Spherical piston problem in water

In this paper, we study the propagation of a shock wave in water, produced by the expansion of a spherical piston with a finite initial radius. The piston path in the x, t plane is a hyperbola. We have considered the following two cases: (i) the piston accelerates from a zero initial velocity and attains a finite velocity asymptotically as t tends to infinity, and (ii) the piston decelerates, starting from a finite initial velocity. Since an analytic approach to this problem is extremely difficult, we have employed the artificial viscosity method of von Neumann & Richtmyer after examining its applicability in water. For the accelerating piston case, we have studied the effect of different initial radii of the piston, different initial curvatures of the piston path in the x, t plane and the different asymptotic speeds of the piston. The decelerating case exhibits the interesting phenomenon of the formation of a cavity in water when the deceleration of the piston is sufficiently high. We have also studied the motion of the cavity boundary up to 550 cycles.

Identification of a core promoter and a novel isoform of the human TSCI gene transcript and structural comparison with mouse homolog

Tuberous sclerosis complex (TSC) is an autosomal dominant disorder with loci on chromosome 9q34.12 (TSC1) and chromosome 16p13.3 (TSC2). Genes for both loci have been isolated and characterized. The promoters of both genes have not been characterized so far and little is known about the regulation of these genes. This study reports the characterization of the human TSC1 promoter region for the first time. We have identified a novel alternative isoform in the 5' untranslated region (UTR) of the TSC1 gene transcript involving exon 1. Alternative isoforms in the 5' UTR of the mouse Tsc1 gene transcript involving exon I and exon 2 have also been identified. We have identified three upstream open reading frames (uORFs) in the 5' UTR of the TSC1/Tsc1 gene. A comparative study of the 5' UTR of TSC1/Tsc1 gene has revealed that there is a high degree of similarity not only in the sequence but also in the splicing pattern of both human and mouse TSC1 genes. We have used PCR methodology to isolate approximately 1.6 kb genomic DNA 5' to the TSC1 cDNA. This sequence has directed a high level of expression of luciferase activity in both HeLa and HepG2 cells. Successive 5' and 3' deletion analysis has suggested that a -587 bp region, from position +77 to -510 from the transcription start site (TSS), contains the promoter activity. Interestingly, this region contains no consensus TATA box or CAAT box. However, a 521-bp fragment surrounding the TSS exhibits the characteristics of a CpG island which overlaps with the promoter region. The identification of the TSC1 promoter region will help in designing a suitable strategy to identify mutations in this region in patients who do not show any mutations in the coding regions. It will also help to study the regulation of the TSC1 gene and its role in tumorigenesis. (C) 2003 Elsevier B.V. All rights reserved.