bluuebunny/crossref_metadata_2025_split huggingface dataset:
Reconciling Value Estimates from the Discounted Cash Flow Model and the Residual Income Model*
Authors: Lundholm Russell , O'Keefe Terry 
Published: November 2003

AbstractThis paper examines why practitioners and researchers get different estimates of equity value when they use a discounted cash flow (CF) model versus a residual income (RI) model. Both models are derived from the same underlying assumption — that price is the present value of expected future net dividends discounted at the cost of equity capital — but in practice and in research they frequently yield different estimates. We argue that the research literature devoted to comparing the accuracy of these two models is misguided; properly implemented, both models yield identical valuations for all firms in all years. We identify how prior research has applied inconsistent assumptions to the two models and show how these seemingly small errors cause surprisingly large differences in the value estimates.
Analyst Following and Market Liquidity*
Authors: Roulstone Darren T. 
Published: November 2003

AbstractThis paper investigates the relation between analyst characteristics (number of analysts following a firm and their forecast dispersion) and market liquidity characteristics (bid‐ask spreads and depths and the adverse‐selection component of the spread). Prior research has found contradictory results on the relation between analyst following and market liquidity and has offered differing theories on how analysts affect liquidity. While prior research has posited analysts as proxies for privately informed trade or as signals of information asymmetry, I hypothesize that analysts provide public information, implying that analyst following (forecast dispersion) should have a positive (negative) association with liquidity. Cross‐sectional simultaneous estimations provide support for this hypothesis. The results are both statistically significant and economically important. Granger causality tests indicate that analyst characteristics lead market liquidity characteristics. These results clarify the role of analysts in providing information to financial markets and highlight benefits of increased analyst following.
The Relative and Incremental Explanatory Power of Earnings and Alternative (to Earnings) Performance Measures for Returns*
Authors: Francis Jennifer , Schipper Katherine , Vincent Linda 
Published: November 2003

AbstractWe analyze the ability of earnings and non‐earnings performance metrics to explain the variability in annual stock returns for industries where we identify, ex ante, an allegedly preferred (for valuation purposes) summary performance metric. We identify three industries where earnings before interest, taxes, depreciation, and amortization (EBITDA) and cash from operations (CFO) are preferred, and three industries where specific non‐GAAP performance metrics are preferred. As a benchmark, we also examine the ability of EBITDA and CFO to explain returns for seven industries for which earnings is the preferred metric. Results for the benchmark earnings industries show that earnings dominates EBITDA and CFO in explaining returns. All other results are inconsistent with the view that perceptions of preferred metrics are reflected in actual aggregate investment behaviors.
The Directional Effects of Discussion on Auditors' Moral Reasoning*
Authors: Thorne Linda , Hartwick Jon 
Published: November 2003

AbstractAuditors' professional judgements are typically made following a discussion of contentious issues with other auditors (Gibbins and Mason 1988). These discussions may be with others at various levels in the hierarchy of the audit firm, with informal discussion with peers often taking place prior to formal discussions with audit supervisors (see, e.g., Solomon 1987). This study uses an experiment, involving 286 public accountants, to consider how discussion with peers may influence auditors' subsequent resolution of realistic audit‐specific moral dilemmas. Auditors were asked to prescriptively discuss how an accountant ideally should resolve a moral dilemma, or to deliberatively discuss how an accountant actually would resolve a moral dilemma. The results showed that auditors have higher moral reasoning scores after prescriptive discussion with peers and lower moral reasoning scores after deliberative discussion with peers. Thus, the study findings point to the significance of discussion of contentious dilemmas with peers and the importance of type of discussion for predicting and explaining auditors' moral reasoning. More specifically, the results indicate that discussion with peers may provide information and/or signal what is important and acceptable to the resolution of a moral dilemma, which facilitates transformation of an auditor's moral reasoning. This suggests the importance of informal mechanisms, such as peer discussion, as part of the social control system in audit firms.
Transfer of training emotionally biased interpretations
Authors: Hertel Paula T. , Mathews Andrew , Peterson Samanthe , Kintner Katherine 
Published: November 2003

AbstractNon‐anxious college students first performed a semantic‐judgement task that was designed to train either threat‐related or threat‐unrelated interpretations of threat‐ambiguous homographs (e.g. mug). Next they performed an ostensibly separate transfer task of constructing personal mental images for single words, in a series that included new, threat‐ambiguous homographs. In two experiments, the number of threat‐related interpretations in the transfer task significantly increased following threat‐related experience during the training phase, compared to other training conditions. We conclude that interpretive biases typically shown by anxious people can be established in non‐anxious students in ways that generalize to novel tasks and materials. Copyright © 2003 John Wiley & Sons, Ltd.
How schemas affect eyewitness memory over repeated retrieval attempts
Authors: Rae Tuckey Michelle , Brewer Neil 
Published: November 2003

AbstractAfter observing a crime eyewitnesses are typically interviewed many times over an extended period of time. We examined how schema for a crime influenced the types of information eyewitnesses remembered and forgot across multiple interviews. People's schema for a bank robbery were identified, and recall of schema‐consistent, schema‐inconsistent and schema‐irrelevant information was extracted from eyewitness interviews conducted in two experiments which manipulated retention interval (3 days–12 weeks) and number of interviews (2–4). Consistent with fuzzy‐trace and associative network theories, schemas preserved accuracy for information central to the crime (schema‐consistent and inconsistent) at the expense of schema‐irrelevant information. Schema‐consistent intrusions did not increase across interviews. Copyright © 2003 John Wiley & Sons, Ltd.
Increased iron absorption in lemurs: Quantitative screening and assessment of dietary prevention
Authors: Wood C. , Fang S.G. , Hunt A. , Streich W.J. , Clauss M. 
Published: November 2003

AbstractIron storage disease (ISD) in lemurs has been reported since as early as the 1960s, and in the 1980s was demonstrated to be a consistent finding in postmortem investigations of captive lemurs. Since then this disease has consistently been diagnosed at the point of necropsy. In the current study we describe a preclinical screening procedure, as well as the quantified preventive effects of dietary intervention upon iron absorption. Twenty‐three individual lemurs of four species were initially tested with the transferrin saturation test (%TS); 21 of these animals were on conventional zoo diets, and two were fed a specific diabetic diet. Initially, 20 of 21 lemurs on conventional zoo diets were demonstrated to have %TS levels above the normal range for humans; 17 of these lemurs were in the category (for humans) of excessive iron absorption. A dietary change aimed at reducing dietary iron and vitamin C levels and increasing the levels of iron‐chelating tannins and/or phytates was instigated. After the animals were retested, a matched‐pair comparison of %TS values before and after the diet change revealed significantly (P=0.038, n=7) lower %TS values after the diet change. All species averages were in the human hyperabsorption range on conventional zoo diets (n=21). No species averages were in that range after the dietary change (n=18). The results indicate that further investigations into the use of %TS testing in lemur husbandry, and specific preventive dietary measures, should be conducted. Am. J. Primatol. 61:101–110, 2003. © 2003 Wiley‐Liss, Inc.
A new variable‐speed, constant‐frequency, stand‐alone power generating system
Authors: Kawabata Yoshitaka , Morine Yoshihisa , Oka Toshihisa , Kawabata Takao 
Published: November 2003

AbstractVariable‐speed and constant‐frequency power generating systems using rotor excitation of the wound‐rotor induction machines have been used for such applications as variable‐speed pump generators and flywheel energy storage systems. However, the stand‐alone generating system of this type has only been reported and has not yet been practically used.On the other hand, the stand‐alone generating systems using diesel engines have been widely used for emergency supplies of plants or isolated islands and so on. However, in these cases, synchronous generators are usually used. If the output frequency is to be kept constant, there is the need to control the speed of the engine using a high‐performance governor. Even then, the output frequency changes in the case of a sudden load change.This paper proposes a new stand‐alone power generating system. In this system, the constant‐frequency output voltage can be obtained even though rotor speed changes by several percent. © 2003 Wiley Periodicals, Inc. Electr Eng Jpn, 146(2): 75–85, 2004; Published online in Wiley InterScience (www.interscience.wiley.com). DOI 10.1002/eej.10191
Fast transmission power control using UPFC under output voltage saturation
Authors: Takeshita Takaharu , Kuroda Takeshi , Toyoda Yasunobu , Matsui Nobuyuki 
Published: November 2003

AbstractThis paper presents an electric power control scheme in the transmission line using a UPFC (Unified Power Flow Controller). From the practical application viewpoint, the simultaneous realization of fast power response and reduced power converter capacity are desired. The authors propose a new power control scheme of the UPFC with a current minor control loop. Using the proposed control, the fast power response can be realized and the necessary power converter capacity can be reduced considering the voltage saturation of the converter. The effectiveness of the proposed algorithm has been verified by experiments. © 2003 Wiley Periodicals, Inc. Electr Eng Jpn, 146(2): 66–74, 2004; Published online in Wiley InterScience (www.interscience.wiley.com). DOI 10.1002/eej.10220
A proposal of a 3.3‐kV/6.6‐kV transformerless hybrid filter, and experimental verification based on a 200‐V laboratory system
Authors: Srianthumrong Sunt , Tamai Yasuhiro , Akagi Hirofumi 
Published: November 2003

AbstractThis paper proposes a transformerless shunt hybrid filter for harmonic compensation of a three‐phase six‐pulse diode rectifier, where the AC line‐to‐line voltage is 3.3 or 6.6 kV. The hybrid filter consists of a single tuned LC filter per phase and an active filter with a DC capacitor voltage as low as 300 or 600 V. The two filters are directly connected in series with each other without a transformer. The passive filter absorbs harmonic currents produced by the rectifier, whereas the active filter improves the filtering characteristics of the passive filter. The required rating of the active filter is much smaller than that of a conventional shunt active filter used alone. Another advantage is that no additional switching‐ripple filter is required for the active filter because the LC filter acts not only as a tuned LC filter around the seventh‐harmonic frequency but also as a switching‐ripple filter around 10 kHz. A feedforward control scheme is also proposed to improve the active filter performance. Experimental results obtained from a 200‐V, 5‐kW laboratory system and simulation results of a 3.3‐kV, 300‐kW system confirm the validity and effectiveness of the system. The hybrid filter gives satisfactory compensation performance, thus allowing us to put it into practical use. © 2003 Wiley Periodicals, Inc. Electr Eng Jpn, 146(2): 54–65, 2004; Published online in Wiley InterScience (www.interscience.wiley.com). DOI 10.1002/eej.10236
Insulation characteristics of GIS under nonstandard lightning impulse oscillations: Insulation characteristics under double‐frequency oscillations with various frequencies and damping ratios
Authors: Yuasa Sadayuki , Kato Keiichi , Okabe Shigemitsu 
Published: November 2003

AbstractTo improve GIS insulation specifications, it is important to recognize the insulation characteristics under oscillatory overvoltage waveforms occurring in the field. This paper describes investigations of insulation characteristics for double‐frequency oscillatory waveforms with various frequencies and damping ratios. It was found that minimum breakdown voltages (Vmin) were irrelevant to frequency changes in the range of experimental conditions under the same damping conditions. On the other hand, Vmin rose with the damping ratio rising under the same frequency conditions. The insulation characteristics at a valley of oscillation were investigated using actual breakdown voltages. It was found that the insulation characteristics were treated all‐inclusively based on the characteristics of Vmin for damping time. © 2003 Wiley Periodicals, Inc. Electr Eng Jpn, 146(2): 11–19, 2004; Published online in Wiley InterScience (www.interscience.wiley.com). DOI 10.1002/eej.10245
Characteristics of creeping discharge developed in a narrow gap between insulators and effect of a backside electrode
Authors: Nishikawa Tetsuji , Sakamoto Naoki , Ueno Hideki , Nakayama Hiroshi 
Published: November 2003

AbstractDischarge characteristics have been investigated for a needle–plane electrode configuration containing insulating barriers with a narrow gap which has been placed between the needle and the plane. The characteristics of creeping discharge developed in the narrow gap of the barrier filled with SF6 are especially considered. In the case of a configuration with a backside electrode below the needle, the corona generated from the needle easily extended to the gap. On the other hand, for a configuration without a backside electrode, the corona has hardly extended to the gap, and on increasing the applied voltage the corona developed greatly in the gap. This difference in corona extension should affect the flashover characteristics in the present system. © 2003 Wiley Periodicals, Inc. Electr Eng Jpn, 146(2): 27–36, 2004; Published online in Wiley InterScience (www.interscience.wiley.com). DOI 10.1002/eej.10248
Improvement of microwave power from a virtual cathode oscillator and its repetitive operation using a metal mesh anode
Authors: Onoi Masahiro , Yamabuchi Masahiko , Yatsuzuka Mitsuyasu 
Published: November 2003

AbstractA virtual cathode oscillator with a stainless‐steel mesh anode of various transparencies and wire diameters was studied experimentally for the enhancement of microwave power and its repetitive operations. The maximum microwave power observed was about 20 MW at 12 GHz for a diode voltage of 250 kV and an electron beam current of 39 kA using an anode mesh with wire diameter of 0.22 mm and a transparency of 67%. The microwave emission was enhanced by decreasing the mean angle of beam scattering when a mesh of smaller wire diameters was used in the anode. The increased transparency of the fine mesh also contributed to the enhancement of the microwave emission. Use of the mesh anode afforded the operation in several repetitive shots. © 2003 Wiley Periodicals, Inc. Electr Eng Jpn, 146(2): 1–10, 2004; Published online in Wiley InterScience (www.interscience.wiley.com). DOI 10.1002/eej.10259
Molecular dynamics in the formation process of single‐walled carbon nanotubes
Authors: Shibuta Yasushi , Maruyama Shigeo 
Published: November 2003

AbstractThe mechanism of the nucleation and formation of single‐walled carbon nanotubes (SWNTs) was investigated using molecular dynamics simulations. When the initial state was chosen so that carbon and nickel atoms were randomly distributed in a simulation domain, the formation of a random cage structure made up of carbon atoms, which had a few nickel atoms inside it, was observed by 6 ns. The nickel atoms, which move inside or on the surface of the cage, were seen to be preventing the complete closure of the cage and its anneal into the fullerene structure. Further, in order to observe a longer time‐scale growth process, the simulation cell was artificially shrunk by the progress of simulation so that collisions between precursor clusters were promoted to comply with the limitation in the calculation time. Collisions of the imperfect random‐cage clusters led to an elongated tubular cage structure, which could be regarded as an initiation of SWNTs. The simulation results were compared with FT‐ICR mass spectra of the positive clusters generated by a laser‐vaporization supersonic‐expansion cluster beam source. © 2003 Wiley Periodicals, Inc. Heat Trans Asian Res, 32(8): 690–699, 2003; Published online in Wiley InterScience (www.interscience.wiley.com). DOI 10.1002/htj.10123
Bubble behavior in vertical tube banks installed in a fluidized bed
Authors: Furui Shuji , Umekawa Hisashi , Hayashi Kouichi , Ozawa Mamoru , Takenaka Nobuyuki 
Published: November 2003

AbstractFluidized bed combustion is one of the advantageous technologies for coal and/or incineration firing especially with respect to the environmental protection of emissions, such as NOx/SOx. Bed material movement in such a fluidized bed has a prime importance in the heat transfer process. Thus, quantitative measurement of the bed material movement and the void fraction are indispensable for better understanding of the fluidized bed. In this investigation, neutron radiography is applied to visualize the bed material movement in a simulated fluidized bed heat exchanger installed with vertical tubes. Bubble behavior and void fraction profile are obtained by the image processing technique. Bubble movement is highly restrained by these vertical tubes, so that the bubbles rise up along the tube. The bubble diameter is well correlated by the modified Mori and Wen's correlation taking into account the pitch of the tube arrangement. The bubble rise velocity and void fraction are well correlated by applying the drift‐flux model. © 2003 Wiley Periodicals, Inc. Heat Trans Asian Res, 32(8): 727–739, 2003; Published online in Wiley InterScience (www.interscience.wiley.com). DOI 10.1002/htj.10127
Rate constants for the gas‐phase reaction of CF3CF2CF2CF2CF2CHF2 with OH radicals at 250–430 K
Authors: Chen L. , Tokuhashi K. , Kutsuna S. , Sekiya A. 
Published: November 2003

AbstractThe rate constants k1 for the reaction of CF3CF2CF2CF2CF2CHF2 with OH radicals were determined by using both absolute and relative rate methods. The absolute rate constants were measured at 250–430 K using the flash photolysis–laser‐induced fluorescence (FP‐LIF) technique and the laser photolysis–laser‐induced fluorescence (LP‐LIF) technique to monitor the OH radical concentration. The relative rate constants were measured at 253–328 K in an 11.5‐dm3 reaction chamber with either CHF2Cl or CH2FCF3 as a reference compound. OH radicals were produced by UV photolysis of an O3–H2O–He mixture at an initial pressure of 200 Torr. Ozone was continuously introduced into the reaction chamber during the UV irradiation. The k1 (298 K) values determined by the absolute method were (1.69 ± 0.07) × 10−15 cm3 molecule−1 s−1 (FP‐LIF method) and (1.72 ± 0.07) × 10−15 cm3 molecule−1 s−1 (LP‐LIF method), whereas the K1 (298 K) values determined by the relative method were (1.87 ± 0.11) × 10−15 cm3 molecule−1 s−1 (CHF2Cl reference) and (2.12 ± 0.11) × 10−15 cm3 molecule−1 s−1 (CH2FCF3 reference). These data are in agreement with each other within the estimated experimental uncertainties. The Arrhenius rate constant determined from the kinetic data was K1 = (4.71 ± 0.94) × 10−13 exp[−(1630 ± 80)/T] cm3 molecule−1 s−1. Using kinetic data for the reaction of tropospheric CH3CCl3 with OH radicals [k1 (272 K) = 6.0 × 10−15 cm3 molecule−1 s−1, tropospheric lifetime of CH3CCl3 = 6.0 years], we estimated the tropospheric lifetime of CF3CF2CF2CF2CF2CHF2 through reaction with OH radicals to be 31 years. © 2003 Wiley Periodicals, Inc. Int J Chem Kinet 36: 26–33, 2004
Deductive molecular mechanics of sp3 carbon atom
Authors: Tchougréeff A. L. , Tokmachev A. M. 
Published: November 2003

AbstractThe problem of substantiation of additive systematics such as molecular mechanics is considered. Antisymmetrized product of strictly localized geminals (APSLG) trial wavefunction is used as a starting point for this substantiation. The main force fields of molecular mechanics—those of bonding and bending—are derived for sp3 carbon from the analysis of the total energy in semiempirical variant of the APSLG scheme. Analytically obtained constants of these force fields are in perfect coincidence with those typically used in the empirical force fields. The formulae for off‐diagonal force fields are also obtained and analyzed. The application of the results for understanding the organic stereochemistry is discussed. © 2003 Wiley Periodicals, Inc. Int J Quantum Chem, 2004
DFT study of the role of intermolecular interactions in the formation of stable halogeno– and ammineaqua– platinum(II) coordination compounds
Authors: Panina Natalia S. , Beljaev Alexander N. , Simanova Svetlana A. , Calligaris Mario 
Published: November 2003

AbstractDensity functional theory (DFT) and Hartree–Fock (HF) methods have been used to calculate the electronic and geometric structures of cis‐ and trans‐[Pt(NH3)2X2] (X = Cl−, Br−, I−), [cis‐Pt(NH3)2(H2O)2]2+ and its deprotonated forms. The thermodynamic parameters ΔH, ΔS, ΔG, and ΔCp = f(T) have been obtained from DFT force fields and normal mode frequencies. It is shown that the greater stability of the trans‐isomers is due, at the molecular level, to different interligand interactions. The stability of the cis‐isomers is significantly increased by intermolecular Pt…Pt and NH2‐H…X nonvalence interactions between mononuclear [cis‐Pt(NH3)2X2] moieties, the effect reducing in the row Cl− > Br− > I−. The thermodynamic parameters of possible phases of the hydrolysis of [cis‐Pt(NH3)2(H2O)2]2+ have been also derived. Solvent effects have been investigated calculating the equilibrium constants for the proton transfer reactions both in gas phase and water solution. It is shown that in aqueous medium the hydroxobridged platinum dimer [Pt(NH3)2‐ (μ‐OH)], characterized by a Pt…Pt distance of 3.119 Å, is the preferred hydrolysis product. It is also shown that with short metal–metal interactions, such as those found in [cis‐Pt(NH3)2Cl2] and [cis‐Pt(NH3)2(H2O)2]2+, the conditions for the formation of linear polynuclear complexes with PtPt bonds (the so‐called “platinum blues”) are created. © 2003 Wiley Periodicals, Inc. Int J Quantum Chem, 2004