Abstract
[Formula: see text] fermionic string theory, which is considered as a fermionic string theory in two dimensions, is shown to decompose into two mutually independent parts, one of which can be viewed as a topological model and the other is irrelevant for the theory. The physical contents of the theory is largely governed by this topological structure, and the discrete physical spectrum of [Formula: see text] string theory is naturally explained as the physical spectrum of the topological model. This topological structure turns out to be related with a novel hidden N = 2 superconformal algebra (SCA) in the enveloping algebra of the N = 3 SCA in fermionic string theories.
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