The underinvestment problem under conglomeration

This theoretical paper explores whether the underinvestment problem is aggravated or ameliorated by the formation of a pure conglomerate. It establishes that the answer depends critically on the volatility of corporate assets. If volatility is low, conglomeration ameliorates the underinvestment problem, whereas if volatility is high, conglomeration aggravates the underinvestment problem. These analytical results are then invoked as a potential explanation for the ambiguous conclusions of empirical studies that delve into the existence of a conglomerate discount

Experimental demonstration of continuous variable purification of squeezed states

We report on the first experimental demonstration of purification of nonclassical continuous variable states. The protocol uses two copies of phase-diffused states overlapped on a beam splitter and provides Gaussified, less mixed states with the degree of squeezing improved. The protocol uses only linear optical devices such as beam splitters and homodyne detection, thereby proving these optical elements can be used for successful purification of this type of state decoherence which occurs in optical transmission channels

Input-output relations for a 3-port grating coupled Fabry-Perot cavity

We analyze an optical 3-port reflection grating by means of a scattering matrix formalism. Amplitude and phase relations between the 3 ports, i.e. the 3 orders of diffraction are derived. Such a grating can be used as an all-reflective, low-loss coupler to Fabry-Perot cavities. We derive the input output relations of a 3-port grating coupled cavity and find distinct properties not present in 2-port coupled cavities. The cavity relations further reveal that the 3-port coupler can be designed such that the additional cavity port interferes destructively. In this case the all-reflective, low-loss, single-ended Fabry-Perot cavity becomes equivalent to a standard transmissive, 2-port coupled cavity

Three-port beam splitters-combiners for interferometer applications

We derive generic phase and amplitude coupling relations for beam splitters-combiners that couple a single port with three output ports or input ports, respectively. We apply the coupling relations to a reflection grating that serves as a coupler to a single-ended Fabry-Perot ring cavity. In the impedance-matched case such an interferometer can act as an all-reflective ring mode cleaner. It is further shown that in the highly undercoupled case almost complete separation of carrier power and phase signal from a cavity strain can be achieved

Forecast, observation and modelling of a deep stratospheric intrusion event over Europe

A wide range of measurements was carried out in central and southeastern Europe within the framework of the EU-project STACCATO (Influence of Stratosphere-Troposphere Exchange in a Changing Climate on Atmospheric Transport and Oxidation Capacity) with the principle goal to create a comprehensive data set on stratospheric air intrusions into the troposphere along a rather frequently observed pathway over central Europe from the North Sea to the Mediterranean Sea. The measurements were based on predictions by suitable quasi-operational trajectory calculations using ECMWF forecast data. A predicted deep Stratosphere to Troposphere Transport (STT) event, encountered during the STACCATO period on 20-21 June 2001, could be followed by the measurements network almost from its inception. Observations provide evidence that the intrusion affected large parts of central and southeastern Europe. Especially, the ozone lidar observations on 20-21 June 2001 at Garmisch-Partenkirchen, Germany captured the evolution of two marked tongues of high ozone with the first one reaching almost a height of 2 km, thus providing an excellent data set for model intercomparisons and validation. In addition, for the first time to our knowledge concurrent measurements of the cosmogenic radionuclides <sup>10</sup>Be and <sup>7</sup>Be and their ratio <sup>10</sup>Be/<sup>7</sup>Be are presented together as stratospheric tracers in a case study of a stratospheric intrusion. The ozone tracer columns calculated with the FLEXPART model were found to be in good agreement with water vapour satellite images, capturing the evolution of the observed dry streamers of stratospheric origin. Furthermore, the time-height cross section of ozone tracer simulated with FLEXPART over Garmisch-Partenkirchen captures with many details the evolution of the two observed high-ozone filaments measured with the IFU lidar, thus demonstrating the considerable progress in model simulations. Finally, the modelled ozone (operationally available since October 1999) from the ECMWF (European Centre for Medium-Range Weather Forecasts) atmospheric model is shown to be in very good agreement with the observations during this case study, which provides the first successful validation of a chemical tracer that is used operationally in a weather forecast model. This suggests that coupling chemistry and weather forecast models may significantly improve both weather and chemical forecasts in the future

Thermal Decomposition and Combustion of γ-irradiated Polyamide 6 Containing Phosphorus Oxynitride or Phospham

Polyamide 6 (PA-6) containing the fire retardants phosphorus oxynitride ((PON)m) or phospham ((PN2H)n) was exposed to 60Co-γ-rays (absorbed dose: 1.0–4.0 MGy). The irradiation led to crosslinking of the polymer which caused an increase in the char yield and a decrease in the flammability of the polymer. The combustion behavior was strongly affected by irradiation: dripping was totally prevented in the case of system PA-6/(PN2H)n and strongly retarded in the case of system PA-6/(PON)m. The thermal stability of the system PA-6/(PN2H)n decreased with increasing absorbed dose whereas the thermal stability of the system PA-6/(PON)m did not change