Miracle-dz/UniFAR-FTUs huggingface dataset:
Corporate governance and the relationship between EVA and created shareholder value

Purpose – The purpose of this paper is to find out whether governance mechanisms approximated by the board of directors' characteristics, auditors' quality, ownership structure and compensation mix, can help bridge the gap between economic value added (EVA) and market values approximated by created shareholder value (CSV). Design/methodology/approach – Based on a sample of US firms and using available data for EVA, discriminant analysis and stepwise regression are used to test whether governance characteristics explain the differences between the results provided by the two measures of performance.Findings – The results show that governance characteristics are important in explaining the differences between the results provided by CSV and EVA and that board independence, the auditors' expertise and reputation, the ownership structure and the stock‐options contribute significantly in explaining these differences.Originality/value – The results are very relevant to academicians and practitioners concerned wi.
Paying Attention : a Study of Attentional and Interpersonal Styles of Hotel and Restaurant Administration Students

Perception is selective due to the limited ability of humans to process information. Choices must be made whether to attend with a broad or narrow focus, and to focus externally or on internal thoughts. These choices determine performance in a variety of settings. Sixty-one hotel and restaurant administration students took a self-report inventory measuring attentional and interpersonal style. Results indicate that they read and react to the environment better, court a busier world, present a more outgoing style, and take a more competitive approach to matters than other university students. They also differed from business and sales executives in a number of areas. These differences are discussed relative to instructor/curriculum presentations, industry recruiting, and career potential for HRA graduates. Key Words:
Do financial expert directors affect the incidence of accruals management to meet or beat analyst forecasts?

Evidence that firms adjust accruals to meet or beat analyst forecasts is pervasive. However, the implications for earnings quality are not clear. Managers can use this practice to mislead investors or to signal future earnings growth. Assuming boards are concerned about providing higher quality financial information, they should discourage managers from adjusting earnings to beat the target if adjustment diminishes earnings quality. Consistent with this prediction, I find a significantly negative relation between the probability that a firm beats the target by adjusting accruals and the presence of independent audit committee financial expert for firms with poor future performance.
Bifurcation Routes to Volatility Clustering

See also the publication 'Bifurcation Routes to Volatility Clustering under Evolutionary Learning' in the 'Journal of Economic Behavior & Organization'. Volume 67(1), pp. 27-47. A simple asset pricing model with two types of adaptively learning traders,fundamentalists and technical analysts, is studied. Fractions of these tradertypes, which are both boundedly rational, change over time according toevolutionary learning, with technical analysts conditioning their forecastingrule upon deviations from a benchmark fundamental. Volatility clustering arisesendogenously in this model. Two mechanisms are proposed as an explanation. Thefirst is coexistence of a stable steady state and a stable limit cycle, whicharise as a consequence of a so-called Chenciner bifurcation of the system. Thesecond is intermittency and associated bifurcation routes to strange attractors.Both phenomena are persistent and occur generically in nonlinearmulti-agent evolutionary systems.
Entrepreneurs’ networks and the success of start-ups

The network success hypothesis assumes a positive relation between the networking activities of founders and their start-up’s success. The rationale behind this hypothesis is the theory of socially embedded ties that allow entrepreneurs to get resources cheaper than they could be obtained on markets and to secure resources that would not be available on markets at all, e.g. reputation, customer contacts, etc. This paper clarifies how entrepreneurial network activities can be measured and which indicators exist to quantify start-up success. It then reviews empirical studies on the network success hypothesis. The studies have rarely come up with significant results. This surprising evidence can be explained by large differences in the way that the dependent and the independent variables were defined and by effects of unobserved variables such as the networking expertise of the founders and the entrepreneurs’ level of existing know-how in the areas of co-operation and networking (‘absorptive capacity’). The major shortcomings of existing network studies are found to be the neglect of different starting conditions, the focus on individual founders’ networks instead of multiple networks in start-ups with an entrepreneurial team, and the assumption of a linear causal relation between networking and start-up success. Accordingly, the paper develops a new, extended model for the relation between entrepreneurial networks and start-up success. Finally, we make some suggestions for the further development of entrepreneurial network theory.
Operator-related aspects in endodontic malpractice claims in Finland

Abstract Objective: We analyzed operator-related differences in endodontic malpractice claims in Finland. Materials and methods: Data comprised the endodontic malpractice claims handled at the Patient Insurance Centre (PIC) in 2002–2006 and 2011–2013. Two dental advisors at the PIC scrutinized the original documents of the cases (n = 1271). The case-related information included patient’s age and gender, type of tooth, presence of radiographs, and methods of instrumentation and apex location. As injuries, we recorded broken instrument, perforation, injuries due to root canal irrigants/medicaments, and miscellaneous injuries. We categorized the injuries according to the PIC decisions as avoidable, unavoidable, or no injury. Operator-related information included dentist’s age, gender, specialization, and service sector. We assessed level of patient documentation as adequate, moderate, or poor. Chi-squared tests, t-tests, and logistic regression modelling served in statistical analyses. Results: Patients’ mean age was 44.7 (range 8–85) years, and 71% were women. The private sector constituted 54% of claim cases. Younger patients, female dentists, and general practitioners predominated in the public sector. We found no sector differences in patients’ gender, dentists’ age, or type of injured tooth. PIC advisors confirmed no injury in 24% of claim cases; the advisors considered 65% of injury cases (n = 970) as avoidable and 35% as unavoidable. We found no operator-related differences in these figures. Working methods differed by operator’s age and gender. Adequate patient documentation predominated in the public sector and among female, younger, or specialized dentists. Conclusions: Operator-related factors had no impact on endodontic malpractice claims.
Portfolio evaluation using OWA‐heuristic algorithm and data envelopment analysis

Purpose - The purpose of this paper is to evaluate two different asset selection methodologies and further examine these by forming optimal portfolios. Design/methodology/approach - This paper deals with the problem of portfolio formation, broadly in two steps: asset selection and asset allocation by using the two different approaches for the first step and then well-known mean variance portfolio optimization. In addition, the resulting portfolios are compared using Sharpe ratio. Findings - The empirical observations prove the applicability of the methodology adopted in the research design, ordered weighted averaging (OWA)-heuristic algorithm gives us a better portfolio from the sample observations. Also the asset selection procedures adopted in the research proves to be of help when an investor has to narrow down the number of assets to invest in. Practical implications - The analysis provides two different methodologies for portfolio formation – though the asset allocation is based on the mean variance portfolio optimization, the asset selection methods adopted provide a systematic approach to select the efficient securities. Originality/value - This paper shows that OWA can be used to decide the order of inputs for the heuristic algorithm. Also an attempt is made to use data envelopment analysis to find a solution to the problem of portfolio formation.
Restrictive Covenants and Accounting Information in the Market for Convertible Notes: Further Evidence

This survey extends Whittred and Zimmer's [1986] survey of the restrictive covenants and accounting rules negotiated in debenture, unsecured and convertible note deeds by analysing the contents of 84% of convertible note deeds issued between 1976 and 1985. The paper also examines negotiated reporting obligations and controls for regulatory effects on the covenants and accounting rules. Conclusions from the survey are compared to those of Whittred and Zimmer [1986].
Effective oral treatment of unconjugated hyperbilirubinemia in Gunn rats

We sought to develop an oral treatment for unconjugated hyperbilirubinemia. In the Gunn rat model of unconjugated hyperbilirubinemia, dietary supplementation with the lipase inhibitor orlistat (Orl) or with calcium phosphate (CaP) decreases plasma unconjugated bilirubin (UCB) levels. We determined whether Orl, CaP, or their combination is superior to phototherapy, the conventional treatment, and whether the effects of Orl and CaP are influenced by dietary fat content. Gunn rats were treated with Orl (200 mg/kg chow), CaP (20 g/kg chow), Orl + CaP, or continuous phototherapy (19 μW/cm2/nm) during a low‐fat (LF) diet (13 energy%) or high‐fat (HF) diet (35 energy%). Plasma UCB and fecal fat excretion were measured before, during, and/or at the end of treatment. Orl treatment for 2 weeks (HF diet) reduced plasma UCB concentrations similar to phototherapy (−34% and −28%, respectively); the combination of both was more effective than either treatment alone (−48%; P < .001). After 3 weeks of a HF diet, plasma UCB was 46% lower compared with the LF diet (P < .001). Plasma UCB concentrations were negatively correlated with fecal fat excretion (r = −0.96; P < .001). Irrespective of dietary fat content, 3 weeks of combined treatment (Orl + CaP) decreased plasma UCB by approximately 50% (P < .01) and was more effective than phototherapy (P < .05) at the intensity provided. In conclusion, plasma UCB concentrations in Gunn rats are negatively related to fecal fat excretion and dietary fat content. Orlistat is equally effective as phototherapy for the treatment of unconjugated hyperbilirubinemia in Gunn rats, and combined oral treatment with Orl + CaP is more effective than phototherapy. The present results support the feasibility of an efficient oral treatment of unconjugated hyperbilirubinemia. (HEPATOLOGY 2005;41:526–534.)
Illegal immigration and resource allocation.

This paper studies the effects of illegal immigration and the associated expansion of the underground economy on the allocation of resources, commodity prices, and wages of workers, both in the short run (when occupational mobility is restricted) and in the long run (when the skill-composition of the labor force is endogenous). The paper goes on to consider some of the fiscal implications of illegal immigration and the related expansion of underground activity. Effects of sanctions against employers hiring illegal aliens and measures to legalize the status of clandestine foreign workers are also examined. Copyright 1997 by Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association.
Can sunlight replace phototherapy units in the treatment of neonatal jaundice? An in vitro study

Background/Aim: Light can be efficiently used for the treatment of neonatal jaundice. Sunlight, which covers a large portion of the light spectrum including the bilirubin‐absorbing range, is abundant in the Middle East. Such advantages prompted the present study to investigate the efficiency of sunlight in isomerizing bilirubin. This may introduce a practical source of light for the treatment of hyperbilirubinic infants in areas where phototherapy units are not available.
Development and prospects of internet banking in Bangladesh

Purpose – The goal of this paper is to examine the development and prospects of internet banking in Bangladesh, which found that lack of infrastructure is the major issues for internet banking.Design/methodology/approach – An overview of newspaper reports, journal articles, workshops and presentations at the conference.Findings – Bangladesh banks are still reluctant to use full internet base banking activities. Compared to private and foreign banks, nationalised commercial banks are far behind implementing internet banking system in banking transactions. Nationalised commercial banks provide ATM services with very few branches and also the computerised branches are very small except the foreign commercial banking.Originality/value – This paper outlines the key internet banking trends and events in Bangladesh. Further, the research focuses on the issues that are related to internet banking and provides strategy and directions for the development of internet banking in Bangladesh.
ORGAN TOXICITY AND MECHANISMS

The aim of this study was to investigate the role of metabolic activation in the olfactory toxicity of methyl iodide (MeI). Adult male rats were exposed via nose-only inhalation to 100 ppm MeI for 0±6 h, and non-protein sulphydryl (NP-SH) concentrations determined in selected tissues. Depletion of NP-SH occurred in all tissues, but was most marked and rapid in the respiratory epithelium of the nasal cavity and the kidney. Olfactory, lung and liver NP-SH levels were affected to a lesser extent, and those of the brain declined by only 20±30% over the whole time course. In order to modulate glutathione (GSH) status, animals were pretreated with (1) phorone plus L-buthionine sulphoximine (BSO), which depleted NP-SH levels in all the tissues examined, or (2) the isopropyl ester of GSH (IP-GSH), which was shown to replenish NP-SH concentrations in all tissues except the liver of animals previously administered phorone. When animals were pre-treated with phorone plus BSO and then exposed to 100 ppm MeI for 2 h, there was a potentiation of the toxicity of MeI as judged by the clinical observations on the animals. In contrast, treatment with IP-GSH prior to and during exposure to MeI for 4 h aorded a marked protection to the olfactory epithelium. In order to inhibit cytochromes P450, animals were pre-treated with cobalt protoporphyrin IX. This decreased hepatic cytochrome P450 concentrations by >90%, but when animals were then exposed to 100 ppm MeI for 4 h there was no eect on the severity of the olfactory lesion. These results indicate that conjugation of MeI with GSH is a detoxi®cation rather than an activation pathway. Also, there is no major role for cytochrome P450-dependent oxidation in the development of the olfactory lesion.
Flying with a ‘death sentence’ on board: electrophoretic detection of braconid parasitoid larvae in migrating winged grain aphids, Sitobion avenae (F.)

Abstract Polyacrylamide gel electrophoresis of enzymes (carboxylesterases) was used for the first time to monitor rates of parasitism in airborne alate (winged) grain aphid, Sitobion avenae (F.) population samples collected by suction trapping in Hertfordshire, UK. Using previously described electrophoretic ‘keys’, the species of hymenopterous parasitoids present in individual aphids were identified and found to be Aphidius ervi (Haliday) and/or Aphidius rhopalosiphi (De Stephani Perez) (Braconidae). Entomophthoralean fungal infection was also detected using this approach. Aphidiid wasp parasitism was detected from early June to mid-August and fungal infection from late June to late July. The results are discussed in relation to parasitoid population structure and dynamics, especially (i) the fact that winged aphids passively transport the early stages of their braconid parasitoids and fungal pathogens, potentially to newly-founded colonies, which may directly impact on the dual aphid-parasitoid populations genetics; and (ii) the approach used to collect and assay parasitised and fungal infected aphids involving both suction trapping and electrophoretic testing may have potential in assessing the level and efficacy of these biological control agents in integrated pest management (IPM) schemes to combat cereal aphid outbreaks.
In a shake of a lamb's tail: using genomics to unravel a cause of chondrodysplasia in Texel sheep.

Chondrodysplasia in Texel sheep is a recessively inherited disorder characterized by dwarfism and angular deformities of the forelimbs. A genome-wide association study using the Illumina OvineSNP50 BeadChip on 15 sheep diagnosed as affected and eight carriers descended from three affected rams was conducted to uncover the genetic cause. A homozygous region of 25 consecutive single nucleotide polymorphism (SNP) loci was identified in all affected sheep, covering a region of 1 Mbp on ovine chromosome 4. Seven positional candidate genes - including the solute carrier family 13 (sodium/sulphate symporters), member 1 (SLC13A1) - were identified and used to search for new SNPs for fine mapping of the causal locus. The SLC13A1 gene, encoding a sodium/sulphate transporter, was the primary candidate gene attributable to similar phenotypes observed in the Slc13a1 knockout mouse model. We discovered a 1-bp deletion of T (g.25513delT) at the 107 bp position of exon 3 in the SLC13A1 gene. Genotyping by direct sequencing and restriction fragment length polymorphism analysis for this mutation showed that all 15 affected sheep were g.25513delT/g.25513delT; the eight carriers were g.25513delT/T and 54 normal controls were T/T. The mutation g.25513delT shifts the open reading frame of SLC13A1 to introduce a stop codon and truncate C-terminal amino acids. It was concluded that the g.25513delT mutation in the SLC13A1 gene was responsible for the chondrodysplasia seen in these Texel sheep. This knowledge can be used to identify carriers with the defective g. [25513delT] allele to avoid at-risk matings to improve animal welfare and decrease economic losses.
Economic growth in Latin America in the late 20th century: evidence and interpretation

The 1980s and 1990s have been decades of instability and slow growth for most of the Latin American region. There are exceptions, however. Chile and the Dominican Republic grew rapidly in the last decade or so although in recent years both economies, for different reasons, have entered in cycles of more sluggish growth. The purpose of this paper is to advance our understanding of the growth patterns of the Latin American economy in the final decades of the 20th century. We focus on the analysis of medium-to-long run growth, as opposed to the standard discussion of the determinants of high frequency fluctuations (business cycles), and disentangle the contribution of factor accumulation and total factor productivity. While business cycles are of interest for stabilization policies, growth cycles tend to be related to different variables from those that determine short-run growth, such as investment, human capital formation and the adoption of technology. We also want to understand the spells of prosperity and stagnation in several important economies of the region, as well as identify stories of growth decline and divergence in recent decades. The role of factor accumulation and total factor productivity growth performance are investigated in the paper, as well as the role of terms of trade shocks and capital inflows, changes in the quality of the labor force and macroeconomic instability on total factor productivity growth (TFP) and GDP growth.
Innovations and R & D in Northern Ireland Manufacturing: A Schumpeterian Approach

HARRIS R. and TRAINOR M. (1995) Innovations and R & D in Northern Ireland manufacturing: a Schumpeterian approach, Reg. Studies 29, 593–604. Given the importance of R & D and innovative outputs, and the change in regional policy in the 1980s to encourage an enterprise culture based inter alia on a high rate of innovations, this paper attempts to explain the determinants of inventive activities in one of the most disadvantaged regions of the United Kingdom. A model incorporating the impact of market structure is estimated and it is found that, in Northern Ireland, higher R & D spending leads to a higher probability of innovating, while R & D itself is positively affected by higher post-innovation price-cost margins. Thus, R & D spending and innovation outputs are beneficial to profitability and thus presumably the long-term growth of firms. However, while market structure is important, the direct effects of monopoly power are, if anything, negative. Thus, the results presented by GEROSKI, 1990, are support.
The Evolution of Fintech: A New Post-Crisis Paradigm?

“FinTech”, a contraction of “Financial technology”, refers to technology enabled financial solutions. It is often seen today as the new marriage of financial services and information technology. However, the interlinkage of finance and technology has a long history and has evolved over three distinct eras, during which finance and technology have evolved together: first in the analogue context then with a process of digitalization of finance from the late twentieth century onwards. Since 2008, a new era of FinTech has emerged in both the developed and developing world. This era is defined not by the financial products or services delivered but by who delivers them and the application of rapidly developing technology at the retail and wholesale levels. This latest evolution of FinTech, led by start-ups, poses challenges for regulators and market participants alike, particularly in balancing the potential benefits of innovation with the possible risks of new approaches. We analyse the evolution of FinTech over the past 150 years, and on the basis of this analysis, argue against its too-early or rigid regulation at this juncture.
Customer Expectations of Casual Dining Restaurants: The Case of Liberty Tap Room

The current research examines the importance of restaurant attributes as rated by customers dining in a casual-style restaurant located in a medium-sized city in the Southeast United States. Previous research and the models used to measure customer perceptions of restaurant attributes were reviewed. The assessment instrument chosen for the current study was adapted from DinEX, developed by Antun, Frash, Costen, and Runyan (2010). A total of 92 customers completed the survey over a 10-day period in late August and early September of 2011. Results showed that customers rate food and service attributes as most important when dining out. Attributes related to atmosphere received moderate importance ratings. In using a confirmatory factor analysis, six latent variables emerged: social connectedness, service quality, atmosphere, food quality, healthfulness, and food value. The only statistically significant differences between the factors related to the demographic variables were that females rated the healthfulness of the food options as more important than males, and dinner customers rated the food value as more important than the lunch customers. Implications for restaurant operators and suggestions for further research are discussed.