A RE-EXAMINATION OF THE RELATIONSHIP BETWEEN CLOSED-END FUND DISCOUNTS AND EXPENSES

In this paper the role of expenses in explaining closed-end fund discounts is re-examined. A present value model is developed to illustrate the relationship between expenses and discounts. Earlier studies find that discounts are not related to management fees. In this paper, using a larger sample over a longer and different period and a better specification of the expense variable consistent with the model developed, discounts are found to be significantly related to expenses. The relationship between expenses and discounts holds in the presence of other control variables.     

The effects of an advertising retrieval cue on young children's memory and brand evaluations

Young children's memory for television advertising is important in order for children to recognize brands in stores and/or to recall the brand name in making a purchase request. Two experiments showed that the use of visual advertising retrieval cue (a green frog as the brand character) improved memory performance and brand evaluations. Study 1 (n = 40) showed promise in the cue's assistance in children's recalling the brand name (cued recall) from the ad memory trace. Study 2 (n = 40) contained multiple exposures to the ad, which resulted in greater free recall and in support for the cue's assistance in better access of the brand name from the ad memory trace (cued recall). Affected ad memory resulted in more favorable brand evaluations and intent to request the brand's purchase. © 1994 John Wiley & Sons, Inc.     

Head-heart disparity among future managers: Implications for ethical conduct

An examination of the ethical perceptions of business students using Macobby's head/heart traits and a comparison to earlier studies of managers, accountants, and business students is made. The data were collected at three universities that are similar in size, enrollment and degree programs within the College of Business. Results indicate that present day business students are no less ethically inclined than are their business counterparts in previous eras. In general head traits dominated over heart traits, an indication that business schools continued to do a good job emphasizing and developing analytical skills but a poor job of developing the qualities of the heart that are generally associated with ethical behavior. The implications of these findings are discussed.     

Ozone micro-bubble disinfection method for wastewater reuse system.

Reuse of wastewater is regarded as one important way to deal with the world's shortage of potable water. The authors focused on a disinfection system using micro-bubbles and evaluated its capability for wastewater reuse. This paper reports experimental results from examination of the basic characteristics of micro-bubbles and disinfection of secondary effluent by air or ozone micro-bubbles. The results suggest that when micro-bubbles are applied in an ozonation system it is possible to reduce the reactor size, the amount of ozone decomposition equipment needed and the ozone dose rate.     

Preliminary studies using hybrid mediated electrochemical oxidation (HMEO) for the removal of persistent organic pollutants (POPs).

This study investigates the hybrid mediated electrochemical oxidation (HMEO) technology, which is a newly developed non thermal electrochemical oxidation process for organic destruction. A combination of ozone and ultrasonication processes to the mediated electrochemical oxidation (MEO) process is termed as hybrid mediated electrochemical oxidation. The electrochemical cell was developed in this laboratory. In the present study, several organic compounds, such as phenol, benzoquinone and ethylenediaminetetraacetic acid (EDTA), were chosen as the model organic pollutants to be destructed by the hybrid process. The organic destruction was monitored based on the CO2 generation and total organic carbon (TOC) reduction. The HMEO process was found to be extremely effective in the destruction of all the target organics chosen in this study. The information obtained from this study will provide an insight in adopting this technique for dealing with more recalcitrant organics (POPs).     

Nitrification parameter measurement for plant design: experience and experimental issues with new methods.

Nitrification kinetics are important for process design, optimization, and capacity rating of activated sludge wastewater treatment plants. A Water Environment Research Foundation (WERF) project on Methods for Wastewater Characterization in Activated Sludge Modeling (WERF, 2003) focused significantly on the development of procedures for measuring the nitrifier maximum specific growth rate, micro(AUT). In addition, the importance of (and lack of data for) the nitrifier decay rate, b(AUT), was identified. This paper describes three bench-scale methods for measuring micro(AUT): the Low F/M SBR, Washout and High F/M methods. During the WERF project, the importance of pH and temperature control was investigated briefly; this paper summarizes further experimental work performed to address these issues. A summary of micro(AUT) measurements in a number of locations and using the different measurement techniques is provided.     

Removal of E. coli and helminth eggs in UASB: Polishing pond systems in Brazil.

Ponds following anaerobic reactors, such as Upflow Anaerobic Sludge Blanket (UASB) reactors, have been termed polishing ponds in the literature. The present paper analyses the removal of E. coli and helminth eggs in five UASB-polishing pond systems in Brazil. Since there were ponds in series, the total number of ponds was 10. The ponds had average retention times varying from 2 to 21 days, and depths ranging from 0.40 to 2.00 m. The shallow ponds in series, even with low retention times, were able to produce effluents complying with the coliform WHO guidelines for unrestricted irrigation (< or = 1000 MPN/100 ml). An equation for the coliform decay coefficient was proposed: Kb (dispersed flow) = 0.710H(-0955) (20 degrees C). The equation highlights the inverse relationship between the pond depth and the decay coefficient. All polishing pond systems were able to produce effluents with helminth eggs concentrations predominantly equal to zero, and satisfying the WHO guidelines for unrestricted and restricted irrigation (< or = 1 egg/L, arithmetic mean). The approximate range of helminth eggs removal efficiency was predicted satisfactorily.