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The study is primarily concerned with the verification, and subsequent explanation, of the existence of the phenomenon of new issue underpricing. The primary purposes of the research conducted in this study were to: (1) determine if investors may earn excess returns on new issues by purchasing at the prevailing market price in the immediate after-market rather than at the offer price, (2) develop a simultaneous equation model to explain underpricing, percentage cash spread, and the relationship between the two using various firm, issue, and market characteristics, and ( 3) analyze the effects of institutional constraints concerning percentage cash spread on the relationship between underpricing and percentage cash spread. The examination of excess returns indicates that efficiency prevails in the new issues market beginning with the second trading day. Therefore, investors purchasing new issues in the immediate after-market may expect to not earn excess returns. The results of the estimation of the econometric model using the entire sample of new issues does not indicate a simultaneous relationship between underpricing and cash spread. However, in order to analyze the effects of the institutional constraint on percentage cash spread, it is hypothesized that the most severely underpriced issues are most seriously affected by constraint. The sample is divided into quartiles on the basis of magnitude of underpricing and the econometric model is estimated separately for each quartile. The upper quartile exhibits a recursive relationship suggesting that percentage cash spread is first set and underpricing is adjusted accordingly to lessen risk of distribution and thereby compensate for the lower level of percentage cash spread. A simultaneous relationship does occur in the middle quartiles, but the relationship is positive indicating that higher percentage cash spread offerings also experienced greater underpricing. These results furnish evidence that new issues are affected by institutional constraints on percentage cash spread and the guidelines could be the cause of a portion of the underpricing occurring in the new issues market. / Ph. D.

An empirical study of the effects of differential information and the expectations of investors is undertaken to test the differential information theory of Barry and Brown (1983). The theory is tested using the small firm effect. The excess returns found using ex post data are regressed against proxies for differential information and expectations. The residuals from these regressions are then tested to determine if the small firm effect is still observed. The results of this study are: 1. The tests provided empirical evidence that is consistent with the theory of Barry and Brown (1983) when a suitable proxy for differential information is used. 2. For the sample studied, the differential information effect on perceived risk by investors largely explained the small firm effect, when a suitable proxy was used. 3. Evidence was found that the small firm effect is composed of two parts supporting the findings of Keim (1983). One is a January effect, and the other during the remainder of the year, with the January effect still observed. 4. The proxy chosen to represent heterogeneous expectations must be selected with care. In this study the one selected did not prove suitable. Reasons are provided which indicate that the proxy chosen was the principal cause of the failure of these tests to support the theory. / Ph. D.

Two approaches to smoking cessation were evaluated. One approach, the standard condition, utilized a nicotine fading procedure, group support, and an attendance contingent monetary contract. The other approach, the maintenance condition, utilized nicotine fading, group support, and a smoking-contingent monetary contract. The maintenance condition also received two additional post-cessation sessions and additional instructions for cessation. Both conditions significantly improved over the course of the study. The maintenance condition achieved significantly better outcome on the reported average cigarettes per day, cessation rates, and CO levels for the follow-up periods. The maintenance condition also had significantly lower SCN levels at the three month follow-up. The maintenance condition also had significantly lower diastolic and systolic blood pressure at the six month follow-up when compared to the standard condition. However, few other significant health differences emerged when smoking subjects were compared with reduced smoking or nonsmoking subjects for this study. The maintenance condition was shown to be more cost effective than the standard condition. The results were interpreted as indicating the promise of nicotine fading and behavioral contracting procedures. Limitations of the wide-scale application of these methods was noted, however. In particular, group smoking cessation projects reach limited subjects, successful projects still have only moderate success rates, and the wide-spread application of these methods would strain available resources. It is recommended that further research and clinical efforts continue with nicotine fading, behavioral contracting and rapid smoking cessation programs. In addition, efforts at applying behavioral contracting principles without therapeutic support was suggested. Finally, more research on the functional determinants of tobacco smoking was recommended. / Ph. D.

This thesis examines the multiple factors which have influenced costume design in film history by observing the various representations of the historical figure Cleopatra in motion pictures. Beginning with a brief history of the changing role of the costume designer in film, and a brief history of both the historical and legendary Cleopatra, this paper then analyzes the factors that have influenced costume design in four specific films about Cleopatra: Cleopatra (1917), Cleopatra (1934), Caesar and Cleopatra (1946) and Cleopatra (1963). Criteria for examination of costume design in these films includes previous precedents and contemporary screen conventions, the background and style of both the director and costume designer, the ramifications of the Motion Picture Association Code, studio influence and trends of contemporary fashion. Transcribed drawings of the various costumes which appear in the aforementioned films of Cleopatra, and still photographs from these films are included to supplement written observations. / Master of Fine Arts

Mechanized mining techniques that are commonly used in the coal industry produce a large amount of fine particles. These fines are extremely difficult to recover by conventional flotation methods, mainly because of the large size of the bubbles produced relative to the size of the particles. Hydrodynamic analyses have shown, however, that the use of smaller air bubbles can improve the flotation rate of these fines and, hence, the coal recovery. In the present work, a microbubble generator has been developed that produces bubbles smaller than 100 microns in diameter. Batch flotation tests conducted on samples from five different coal seams have demonstrated that the microbubble flotation process produces improved recoveries and often cleaner products than the conventional flotation process. The higher recoveries are a result of the increased bubble-particle collision efficiencies obtained with smaller bubbles, and also the larger number of bubbles produced in the microbubble process. The improved selectivity has been explained tentatively by the longer froth residence time in the microbubble process, along with the increased bubble loading and the reduced turbulence around the microbubbles. Various techniques have proven successful in further improving the selectivity by reducing the entrainment and/or entrapment of ash in the froth. To better understand the mechanisms of microbubble flotation, basic information regarding surface tension, contact angles, viscosity, streaming currents of microbubbles, electrophoretic mobilities of coal and mineral particles, and the stability of microbubble suspensions has been obtained using two non-ionic frothers. Microbubble flotation results obtained using each of these frothers have also been compared. / Master of Science

A rapid, chemical method for the detection and quantitation of Iipoic acid has been developed. Lipoic acid produces a yellow color when reacted with PdCl₄⁻² in 1 N HCI. The colored complex formed is extractable into methylene chloride, which can be readily concentrated, increasing the color intensity. The limit of sensitivity of this assay for lipoic acid detection in supernatants from Escherichia coli K-12 cell cultures is 2.5 x 10⁻⁵ M, giving an absorbance of 0.10 at 408 nm. Using this assay, it would be possible to screen for a mutant of Escherichia coil K-12 which excretes 100-fold more lipoic acid than the parent strain. Cellular lipoic acid in an anaerobic Escherichia coli K-12 culture remained constant (5 to 6 µg/g dry weight) during growth in a. minimal salts medium containing 1% glucose. However, cellular lipoic acid in an aerobic Escherichia coli K-12 culture increased from 15 µg/g dry weight to 20 to 25 µg/g dry weight during cell growth in the same medium. Aeration (2 L air/L medium/ minute) of a mid-log phase anaerobic Escherichia coli K-12 culture resulted in a doubling of cellular lipoic acid levels within the first thirty minutes and a four fold increase over the next five hours of aerated cell growth. Chinese hamster ovary cells were found not to incorporate the two known bacterial precursors, [²H₃]-acetate and [U-²H₁₅]-octanoate, into lipoic acid. Further studies with both Chinese hamster ovary and mouse fibroblast cells which were designed to demonstrate that these two transformed eel 1 1 ines require lipoic acid for maximal growth were inconclusive. / Master of Science

Kinetic data on soot and pyrolytic graphite oxidation rates have been used to calculate the ability of woodstove catalysts to burn woodstove effluent particles. Large variations appear in the literature and depending upon which particle diameter and rates were used one can calculate maximum possible particle oxidation efficiencies of 10⁻¹ to 40 per cent, with most investigators predicting less than a 1 per cent efficiency. This suggests that the 80 per cent reduction in "particulate" emissions which is shown by tests with catalyst-equipped stoves is due to catalytic oxidation of high molecular weight vapors rather than due to particle burnup. Dilute (500 and 250 ppm) acetylene/air mixtures flowing between parallel catalytic plates have been studied experimentally. Measured acetylene profiles for the hydrodynamic entry length region are presented and compared to profiles calculated by a single-phase, two-dimensional, low mass transfer analytical model currently under development and which eventually will be extended to cover three-dimensional flows such as those in the passageways of a woodstove catalyst. The measured temperature profile for a 5000 ppm acetylene/air mixture flowing between parallel catalytic plates was compared to the temperature profile calculated by a single step, adiabatic, constant pressure, homogeneous model. / Master of Science

The preferential adsorption of n-decanol, n-decylamine, n-decanoic acid, and ethyl octanoate from binary solutions with heptane onto alumina was studied. The net surface excess isotherms were measured and resolved into component isotherms. The heat of immersion of the alumina in n-decanol, ethyl octanoate, and n-decanoic acid solutions was measured. The heats of immersion support the resolved isotherms which indicate that the order of preferential adsorption is n-decanoic acid > n-decanol ≃ n-decylamine ≃ ethyl octanoate. However, adsorption equilibrium constants calculated for each system indicate that the order of preferential adsorption is ethyl octanoate > n-decanol > n-decylamine > n-decanoic acid. An explanation for the discrepancy is put forth. A theoretical model of surface heterogeneity is also applied to the data for the ethyl octanoate and n-decanol systems. The reasonable fit of the model in each case suggests that the alumina surface is heterogeneous. / Master of Science

Calcium is an important factor in many cellular activities and in the maintenance of structural integrity of membranes. Calcium accumulation in the rat lens above the normal physiological range (0.11 µmol/g wet weight) has been associated with formation of cataracts. Selenite is known to influence the histological characteristics of the lens and also alter important biochemical functions. In the selenite induced cataract calcium levels increase as much as 5-fold above normal, the increase preceding appearance of mature opacity by 24 hours. Calcium in the lens rapidly exchanges with labelled calcium in the incubation medium and. establishes equilibrium within 30 minutes. Selenite, accumulated in lens in vivo, causes a 5-6 fold increase in lens calcium over controls during a 24 hour incubation in modified Hank's medium at 37°C. In vitro lmM selenite in the culture medium results in a 15-fold increase in lens calcium, a 17-fold increase in sodium/potassium ratio, and a 60% increase in lens hydration. Efflux of calcium from in vivo and in vitro selenite-treated lens is not impaired. The lens retains the capability to transport 3-4 fold greater calcium over controls from lenses which have accumulated excess calcium in the presence of selenite. In vivo selenite treatment results in a 2.5-fold increase only of extracellular water. In in vitro selenite-treated lenses, however, there is a 2.6-fold increase in extracellular water and a 1.8-fold increase of intracellular water. Selenite treatment of the lenses in vivo and in vitro causes a greater influx of calcium into the lens. Calcium accumulation may act in a nonspecific manner altering lens biochemical functions, membranes and structure, causing development of relationships between selenite induced lens fiber opacities. cataract and cell the associated changes in lens calcium content further validates this model for studying the biochemical changes which impact cataract formation. / Master of Science