Spin polarized tunneling at finite bias.

A mesoscopic spin valve is used to determine the dynamic spin polarization of electrons tunneling out of and into ferromagnetic (FM) transition metals at finite voltages. The dynamic polarization of electrons tunneling out of the FM slowly decreases with increasing bias but drops faster and even inverts with voltage when electrons tunnel into it. A free-electron model shows that in the former case electrons originate near the Fermi level of the FM with large polarization whereas in the latter, electrons tunnel into hot electron states for which the polarization is significantly reduced. The change in sign is ascribed to the matching of the electron wave function inside and outside the tunnel barrier.