I thank Karl Diether for research assistance. I thank Malcolm Baker, Gene Fama, Ken French, and Jeff Wurgler for supplying data. I thank Eugene Fama and seminar participants at the London School of Economics, New York University Stern School, and the University of Chicago for helpful comments. I gratefully acknowledge support from the Alfred P. Sloan Foundation, the Center for Research in Secur...

this paper addresses an experimental investigation in the hydrodynamic behavior of a modified slotted sieve tray. slotted sieve tray (push valve sieve tray) is a sieve tray that the push valves have been utilized on the tray deck to eliminate liquid gradients and non-uniformity of liquid distribution on the tray. the air-water system was used in an industrial scale experimental rig with an inte...

The presumed totipotency of plant cells leads to questions about how specific stem cell lineages and terminal fates could be established. In the Arabidopsis stomatal lineage, a transient self-renewing phase creates precursors that differentiate into one of two epidermal cell types, guard cells or pavement cells. We found that irreversible differentiation of guard cells involves RETINOBLASTOMA-R...

Valve piezoelectric pumps usually have larger flow rate than that of valveless ones. However, the traditional cantilever valve easily induces stress concentration which impacts the reliability of pumps. Therefore, a cymbal‐shaped slotted check valve is proposed to be applied in a piezoelectric pump in order to reduce the stress concentration of the valve and thus improve the reliability of the ...

In cooperative communication systems, different terminals collaborate to form a virtual-multiple antenna array system and exploit the spatial diversity to achieve a better performance. It can be generally categorized into amplify-andforward protocol and decode and-forward protocol. Among the various cooperative communication protocols which have been proposed in the past decades, the slotted co...

This paper analyzes an induction motor with high temperature superconducter (HTS) coated slotted solid rotor. By slotting the solid rotor, the electromagnetic torque near synchronous speed will increase but the starting torque will decrease. To improve starting torque, rotor slots are coated with HTS materials. Using HTS material vary the rotor resistance to great extends in starting step and t...

This paper addresses an experimental investigation in the hydrodynamic behavior of a modified slotted sieve tray. Slotted sieve tray (Push valve sieve tray) is a sieve tray that the push valves have been utilized on the tray deck to eliminate liquid gradients and non-uniformity of liquid distribution on the tray. The air-water system was used in an industrial scale experimental rig with an inte...

A seminal paper by Fama and Bliss (1987) showed that a simple regression model could explain a significant portion of 1-year ahead excess returns. Cochrane and Piazzesi (2005) showed that their regression model could explain a significantly large portion of excess returns than Fama and Bliss’ model and that a single return-forecasting factor essentially encompassed the predictability of excess ...

The CAPM as the benchmark asset pricing model generally performs poorly in both developed and emerging markets. We investigate whether allowing the model parameters to vary improves the performance of the CAPM and the Fama-French model. Conditional asset pricing models scaled by conditional variables such as Trading Volume and Dividend Yield generally result in small pricing errors. However, a ...

A commonly used approach in long-run event-studies is the calendar time portfolio (CTP) approach developed by Jaffe (1974) and Mandelker (1974) and advocated by Fama (1998). For each calendar month we compute the return of an equally-weighted portfolio of companies that unionized in the last T months, where T is either 18 or 24 in our study. The return of this “unionization portfolio” is denote...