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Frequency dispersions of the transconductance and the drain conductance of ion-implanted gallium arsenide (GaAs) metal-semiconductor field-effect transistors (MESFETs) are measured and analyzed. In the linear region of the MESFET (low drain voltage), a positive transconductance dispersion is observed, which is caused by the deep-level traps at the surface between the source and the gate. In the saturation region (high drain voltage), however, a negative transconductance dispersion becomes dominant. The drain conductance does not show a dispersion in the linear region, while a distinct positive dispersion is observed in the saturation region with the same activation energy as the negative transconductance dispersion. The difference of the dispersion activation energy of the MESFET with and without the p-buried layer beneath the channel indicates that the negative transconductance and the drain conductance dispersion are caused by the deep-level traps at the channel-substrate interface. Because there exists the high electric field at the drain edge of the gate and an electron accumulation layer is formed, the potential in the channel becomes lower when the drain current is larger with high gate voltage. The emission of electrons from electron traps with lower potential is the cause of the negative frequency dispersion.