The production of these passive components by Chemical Milling is becoming more common. The author discusses artwork generation, etch allowances, phototooling, types of materials…
Abstract
The production of these passive components by Chemical Milling is becoming more common. The author discusses artwork generation, etch allowances, phototooling, types of materials, identification number and logo markings on and in the surface, the pros and cons of step etching and prepreg cutters, and concludes by considering normal tolerance inspection requirements and packing.
A review has been made of the various factors involved in the design and manufacture of bonded heat sinks for printed circuit boards. Among the factors discussed are the design of…
Abstract
A review has been made of the various factors involved in the design and manufacture of bonded heat sinks for printed circuit boards. Among the factors discussed are the design of heat sink thicknesses and the interrelationship with component lead geometry, the design of heat sink geometry as related to the fabrication of the heat sinks and bonding media, and the complexities of the bonding process itself.
Two week course commencing Monday, 25th October to Friday, 29th October, 1982 and continuing on Monday, 1st November to Friday, 5th November, 1982.
This study aims to evaluate the short-term impact of brokerage analysts’ recommendations on abnormal returns using a sample selected from the S&P BSE 100 in the Indian context…
Abstract
Purpose
This study aims to evaluate the short-term impact of brokerage analysts’ recommendations on abnormal returns using a sample selected from the S&P BSE 100 in the Indian context. The efficient market hypothesis, specifically, its semi-strong form, is tested for “Buy” stock recommendations published in the electronic version of Business Standard. The crucial issue is, are there any abnormal returns that can be earned following a recommendation? If so, how quickly do prices incorporate the information value of these recommendations? It tests the impact of analyst recommendations on average abnormal returns (AARs) and standardized abnormal returns (SRs) to determine their statistical significance.
Design/methodology/approach
Using a sample of stock recommendations published in the e-version of Business Standard, the event study methodology is used to determine whether AARs and SRs are significantly different from zero for the duration of the event window by using several significance tests.
Findings
The findings indicate a marginal opportunity for profit in the short term, restricted to the event day. However, the effect does not persist, i.e. the market is efficient in its semi-strong form implying that investors cannot consistently earn abnormal returns by following analysts’ recommendations. Post the event date, the market reaction to analyst recommendations becomes positive, however, insignificant until the ninth day after the recommendation providing support to the underreaction hypothesis given by Shliefer (2000) and post-recommendation price drift documented by Womack (1996). The study contributes by using different statistical tests to determine the significance of returns.
Practical implications
There are important implications for traders, investors and portfolio managers. The speed with which market prices incorporate publicly available information is useful in formulating trading strategies. However, stock characteristics such as market capitalization, volatility and level of analyst coverage need to be incorporated while making investment decisions.
Originality/value
The study contributes by using different statistical tests to determine the significance of returns.
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D.R.J. Owen, S.Y. Zhao and J.G. Loughran
A finite element solution to the rolling of two‐phase materials ispresented and applied to the rolling of prepared sugar cane. The generalizedBiot theory is extended and modified…
Abstract
A finite element solution to the rolling of two‐phase materials is presented and applied to the rolling of prepared sugar cane. The generalized Biot theory is extended and modified to suit the present problem and the velocity of the solid skeleton and the pore pressure are taken as the primary unknowns. The finite element approach is applied to the governing equations for spatial discretization, followed by time domain discretization by standard difference methods. A constitutive relation evaluated from a finite element simulation of experiments performed on a constrained compression test cell is employed. The computational model of the rolling of prepared cane with two rolls is presented. The material parameters of prepared cane are described and their variation during the rolling process are derived and discussed. Numerical results are presented to illustrate the performance and capability of the model and solution procedures.
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The food values of fruits have during recent years attracted considerable attention from the leading chemists of the day. The enhanced supplies, arriving as they do from every…
Abstract
The food values of fruits have during recent years attracted considerable attention from the leading chemists of the day. The enhanced supplies, arriving as they do from every quarter of the globe, prove that food fruits are increasing in popularity and form an important part of the national dietary.
P. Lynn Kennedy, Karen E. Lewis and Andrew Schmitz
While genetically modified (GM) crops have provided tremendous agricultural productivity gains, many consumers oppose GM products and maintain they are unsafe. We use the case of…
Abstract
While genetically modified (GM) crops have provided tremendous agricultural productivity gains, many consumers oppose GM products and maintain they are unsafe. We use the case of GM sugar beets and their adoption by the US producers to examine the implications of GM technology on food security. A partial equilibrium framework is used to examine the implications of GM technology on food security. This analysis provides a unique opportunity to examine the impact of GM adoption in one product (sugar beets) relative to non-GM adoption in a substitute product (sugarcane). This analysis examines the potential gains to food security through the adoption of biotechnology versus consumer fear of GM technology. Research and development (R&D) has potential implications not only through its impact on supply, but also on demand as well. This study shows that demand impacts can negate the supply-induced food security gains of R&D. Regulations such as mandatory labeling requirements can impact this outcome.
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The Sanitary Committee of a certain County Council, strong with the strength of recent creation, have lately been animated by a desire to distinguish themselves in some way, and…
Abstract
The Sanitary Committee of a certain County Council, strong with the strength of recent creation, have lately been animated by a desire to distinguish themselves in some way, and, proceeding along the lines of least resistance, they appear to have selected the Public Analyst as the most suitable object for attack. The charge against this unfortunate official was not that he is incompetent, or that he had been in any way negligent of his duties as prescribed by Act of Parliament, but simply and solely that he has the temerity to reside in London, which city is distant by a certain number of miles from the much favoured district controlled by the County Council aforesaid. The committee were favoured in their deliberations by the assistance of no less an authority than the “Principal” of a local “Technical School”;—and who could be more capable than he to express an opinion upon so simple a matter? This eminent exponent of scientific truths, after due and proper consideration, is reported to have delivered himself of the opinion that “scientifically it would be desirable that the analyst should reside in the district, as the delay occasioned by the sending of samples of water to London is liable to produce a misleading effect upon an analysis.” Apparently appalled by the contemplation of such possibilities, and strengthened by another expression of opinion to the effect that there were as “good men” in the district as in London, the committee resolved to recommend the County Council to determine the existing arrangement with the Public Analyst, and to appoint a “local analyst for all purposes.” Thus, the only objection which could be urged to the employment of a Public Analyst resident in London was the ridiculous one that the composition of a sample of water was likely to seriously alter during the period of its transit to London, and this contention becomes still more absurd when it is remembered that the examination of water samples is no part of the official duty of a Public Analyst. The employment of local scientific talent may be very proper when the object to be attained is simply the more or less imperfect instruction of the rising generation in the rudiments of what passes in this country for “technical education”; but the work of the Public Analyst is serious and responsible, and cannot be lightly undertaken by every person who may be acquainted with some of the uses of a test‐tube. The worthy members of this committee may find to their cost, as other committees have found before them, that persons possessing the requisite knowledge and experience are not necessarily indigenous to their district. Supposing that the County Council adopts the recommendation, the aspirations of the committee may even then be strangled in their infancy, as the Local Government Board will want to know all about the matter, and the committee will have to give serious and valid reasons in support of their case.
In October, 1908, a report was issued by the Medical Officer of Health for the City of London relating to the unsatisfactory manner in which soda water was manufactured at that…
Abstract
In October, 1908, a report was issued by the Medical Officer of Health for the City of London relating to the unsatisfactory manner in which soda water was manufactured at that time in the London district, and to the means that had been used after official enquiry to better the methods of manufacture. The circumstances were referred to in this Journal for November, 1908. It will be remembered that at the time reputable members of the trade readily agreed that they should be bound by certain regulations. These regulations had been drawn up by the Medical Officer of Health for the City of London and related to inspection of premises and examination of plant, water, and materials. As a proof that they had complied with the regulations a certificate was issued to each firm by their trade society, “The London Bottle Exchange and Mineral Water Trade Protection Society, Limited.” This certificate was submitted to and passed by the Medical Officer of Health for the City of London before issue. The arrangement, though good in conception, appears to be faulty in design, and it is desirable, therefore, to offer some criticism.