Miracle-dz/UniFAR-FTUs huggingface dataset:
The role of audit committee attributes in intellectual capital disclosures: Evidence from Malaysia

Purpose - – This study aims to examine the role of audit committee attributes in non-financial information releases, with a focus on intellectual capital (IC) disclosures, following significant policy changes, mandating the audit committee function in Malaysia. The study argues that, given the changing informational needs of stakeholders and the ongoing discussion on integrated reporting, the role of the audit committee should extend to ensuring the overall quality of corporate reporting. Design/methodology/approach - – The study draws evidence from a sample of leading Malaysian companies based on their market capitalisation over a three-year period (2008-2010), a period subsequent to the recent policy changes. The extent and quality of IC information, as a surrogate of non-financial information, was measured and regressed against several audit committee attributes, such as audit committee size, independence, financial expertise and meetings, controlling the overall governance and firm-specific variables. Findings - – The findings show a strong positive role of the audit committee function in the overall amount of IC information as well as all three subcomponents of IC information (internal, external and human capital). The results are robust to controls for the overall governance and firm-specific attributes as well as different measures of IC information. Practical implications - – The results suggest that the role of the audit committee function extends to non-financial information communication such as IC. Policymakers in Malaysia should, therefore, build on the recent regulatory changes and encourage audit committees to ensure that the overall quality of corporate reporting processes include social, environmental, intellectual as well as financial capital of a firm. Originality/value - – This study considers the role of the audit committee in the wider corporate reporting process – drawing attention to its potential role in the espoused integrated business reporting. It also challenges the taken-for-granted assumption that restricts the role of the audit committee function to the traditional financial reporting process.
Financial Vergangenheitsbewaltigung: The 1953 London Debt Agreement

The 1953 London Debt Agreement settled Germany's debts from the period between the two world wars, and allowed the country to re-establish its role in international capital markets. The Agreement wrote-down the overall debt by about 50 percent and gave the debtors a much longer period to repay. One interesting clause in the Agreement allowed Germany to postpone some payments until such time as re-unification. The Agreement reflects a subtle and responsible understanding of the problems associated with the reparations and debt crises of the 1920s and 1930s, as well as fears about the moral hazard problems that would arise with making any part of the Agreement contingent on events Germany could influence. Recent advocates of third-world debt relief have held up the London Debt Agreement of 1953 as a precedent for debt relief for poor countries today. That argument reflects a misunderstanding of the historical circumstances of the early 1950s, as well as the economic principles reflected in the Agreement.
Tracking Euro preparations amongst UK SMEs

This paper tracks levels of Euro preparations by UK SMEs with trade links with the Euro currency area using two surveys of the same cross-sectional dataset. The first study was conducted soon after the initial launch of the Euro in 1999. The second study, using the same SMEs, sought to see how Euro preparations had changed by 2002 following the introduction of Euro notes and coins. At the univariate level, the results showed that the proportion of SMEs that were totally prepared increased from 31% to 44.3% whilst the proportion not prepared has also increased from 8.9% to 12.2%. The multivariate results show that directly trading manufacturers with a parent in the Euro area or who are seeking to acquire another company are more likely to have partially prepared for the Euro, which suggests a compliant (‘just another foreign currency’) rather than a strategic approach to the Euro. Trade links do not explain all the differences: incorporated manufacturing firms are significantly more likely to be partially prepared and less likely to be completely unprepared, indicating a possible impact of firm capabilities and sectoral differences. Firms looking to acquire others was the only significant business strategy variable.
Simultaneous node pruning of input and hidden layers using genetic algorithms

In optimizing the neural network structure, there are two methods: the pruning scheme and the constructive scheme. This paper uses the pruning scheme to optimize neural network structure. The genetic algorithm is used to find out the optimum node pruning. In the conventional researches, the input and hidden layers were optimized separately. On the contrary we attempted to optimize the two layers simultaneously by encoding two layers in a chromosome. The offspring networks inherit the weights from the parent. For learning, we used the existing error back-propagation algorithm. In our experiment with various databases from UCI Machine Learning Repository, we could get the peak performance when the network size was reduced by about 8~25%. As a result of t-test the proposed method was shown to have a better performance, compared with other pruning or construction methods.
Testing for the Option Value of Migration

Using uncertainty about the future returns to migration, the option value theory of migration can explain low migration rates in spite of huge wage differences. This paper presents the theory in a simple two-period framework and uses ethnic Germans in the CIS to find empirical support for it. Since July 1990, ethnic German immigration from Eastern Europe and the CIS is restricted by means of a protracted application mechanism. In our data on ethnic Germans in Russia and Kazakhstan in the 1990s, we use information on the stage of the application process, migration intentions and ethnicity to construct close proxies for the option value of postponing migration and for migration costs. The link between the two is shown to be as theory predicts.
Functional Mitral Regurgitation

Functional mitral regurgitation (MR) is a common clinical entity which will likely increase in the future due to predicted demographic changes. It is also associated with poor long-term survival. The anatomic structure of the mitral valve apparatus is complex and consists of several components, each of which can be affected by a variety of diseases resulting in MR. In primary MR, the valvular incompetence is caused by compromised or structurally disrupted components of the valve apparatus; the valve in functional MR is structurally normal, with the regurgitation resulting from failure of coaptation of the mitral valve leaflets without coexisting structural changes of the valve itself. Therefore, we defined functional MR as a systolic retrograde flow from the left ventricle into the left atrium due to reduction and/or elimination of the normal systolic coaptation of the mitral valve leaflets. A slow progression of the symptoms is typical for this valve disease and often ends in irreversible left ventricular dysfunction. The pathophysiology and treatment of functional MR are quite complex. This article reviews and summarizes the existing literature, with a focus on the pathophysiology and current treatment of functional MR.
Optimal Stabilization Policies for Deterministic and Stochastic Linear Economic Systems

The analysis of different stabilization policies has been the subject of detailed investigations by economists for a number of years. Research in this area originated with early work by Phillips [11, 12] who proposed a number of stabilization policies and considered the stability properties of the system when these policies were implemented. In particular he showed how different policies could generate undesired oscillations and even instability, in economic activity. However, his analysis was purely descriptive in the sense that while the alternative policies he considered were plausible, they were not derived from any optimizing behaviour. Since that time attention has shifted to more normative questions and to the study of optimal stabilization policies. One of the first authors to consider this aspect was Holt [7], who assumed a quadratic criterion functional and obtained linear decision rules of the type first derived by Simon [15] and Theil [16]. Recent advances in control theory have led to the development of new, more convenient techniques, directly applicable to this problem (see e.g. Kalman [8] Pontryagin [13]). As a result of these various developments it is now known that assuming a quadratic utility functional and a linear model it is possible to obtain the optimal policy as a linear feedback law, which is a particularly convenient form in which to obtain the solution. The present paper has two objectives. The first is to apply these techniques to the stabilization of the deterministic multiplier-accelerator model. This problem has been recently studied by Sengupta [14], although he appears to have incorrectly applied the basic theorem which yields the feedback law. The solution is given for the general multiplieraccelerator model where the investment function is generated by the flexible accelerator. While the general nature of the optimum solution can be readily determined, it is extremely difficult to investigate any particulars and to perform any comparative dynamics in the general case. However, the solution can be explicitly obtained for the instantaneous accelerator and accordingly this case is studied in some detail. The second aim of this paper is to introduce stochastic elements into the model. Recently, considerable progress has been made in stochastic control theory (see Wonham [18-21]). It has been shown that the quadratic utility functional approach can be readily extended to cover various kinds of stochastic elements and turns out to give similar linear feedback laws to those for the deterministic case. Some work has already been devoted to introducing stochastic elements into stabilization theory. Brainard [3] introduces them into a static model; Holt [7] includes additive disturbances in his dynamic model; Henderson and Turnovsky [6] introduce stochastic parameters in a somewhat specialized dynamic
PNAS Plus Significance Statements

In addition to their well-documented roles in energy metabolism and heme biogenesis, mitochondria also play an important role in intracellular signaling, which is important for tissue and organ development. We previously showed that a cytosolic siderophore facilitates mitochondrial iron import in eukaryotes. Depletion of the siderophore by inactivating 3-hydroxy butyrate dehydrogenase 2 ( bdh whose gene product is necessary for siderophore biogenesis, results in heme deficiency and delays erythroid maturation in developing zebrafish embryo. Here we and erythroid maturation. erythroid maturation. Our results
The influence of sociodemographic characteristics on agreement between self-reports and expert exposure assessments.

BACKGROUND Often in exposure assessment for epidemiology, there are no highly accurate exposure data and different measurement methods are considered. The objective of this study was to use various statistical techniques to explore agreement between individual reports and expert ratings of workplace exposures in several industries and investigate the sociodemographic influences on this agreement. METHODS A cohort of 1,282 employees at 4 industries/14 worksites answered questions on workplace physical, chemical, and psychosocial exposures over the past 12 months. Occupational hygienists constructed job exposure matrices (JEMs) based on worksite walkthrough exposure evaluations. Worker self-reports were compared with the JEMs using multivariable analyses to explore discord. RESULTS There was poor agreement between the self-reported and expert exposure assessments, but there was evidence that agreement was modified by sociodemographic characteristics. Several characteristics including gender, age, race/ethnicity, hourly wage and nativity strongly affected the degree of discord between self-reports and expert raters across a wide array of different exposures. CONCLUSIONS Agreement between exposure assessment tools may be affected by sociodemographic characteristics. This study is cross-sectional and therefore, a snapshot of potential exposures in the workplace. Nevertheless, future studies should take into account the social contexts within which workplace exposures occur.
Self‐monitoring of blood pressure at home: how many measurements are needed?

Objective To determine the minimum number of self-measurements of blood pressure at home (HBP) necessary to provide the maximum clinically important benefit. Methods Hypertensive patients were randomly allocated to monitor HBP for 2 weeks (6 work days, duplicate measurements, twice daily) or ambulatory blood pressure for 24 h. The alternative measurement was then performed. Clinic blood pressure was measured at the beginning and the end of the study. Criteria for reliability of HBP were the stabilization of mean HBP, its variability (SD) and the correlation coefficient r for relationship of HBP with ambulatory blood pressure. The reproducibility of HBP was quantified using test–re-test correlations and the SD of differences between average HBP values of different days. Results We studied 189 patients (79 being administered stable antihypertensive treatment). Average HBP (137.5 ± 16.2/85.9 ± 9.9 mmHg) was lower than average clinic blood pressure (P < 0.001) and higher than 24 h and night-time ambulatory blood pressures (P < 0.001). There was no difference between HBP and daytime ambulatory blood pressure. On day 1 HBP was higher than it was on each of days 2–6, with no difference among days 2–6. When data for the initial day for monitoring of HBP were excluded from analysis, average HBP was reduced. Only a modest improvement in the reliability of HBP on day 2 (reductions in mean HBP and its SD and an increase in r with ambulatory blood pressure) was achieved by averaging more readings taken on succeeding days. At least two monitoring days were needed for the reproducibility of HBP to be superior to that of clinic blood pressure. Conclusions These results suggest that determining average HBP of the second and third work days, is the minimum programme that provides a reliable estimate of HBP.
Economic Performance across the UK Regions: Convergence or Divergence?

The authors examine the evolution of UK regional gross domestic product (GDP) per capita since the mid-1970s, with particular emphasis on the degree of divergence or convergence of real GDP per head. They investigate three types of convergence, known as sigma convergence, beta convergence, and conditional beta convergence. They find little evidence of a diminution in the differences in the levels of regional incomes over the sample period, although the standard deviation in regional incomes docs vary over time. There is also some limited evidence of mobility of regions, indicative of beta convergence.
Towards a picture of tourists' happiness

Tourists' interests in traveling to natural and cultural heritage sites of different destinations in the quest for authenticity have fueled the growth of the cultural tourism industry in such economies. The purpose of the present study is to broaden the understanding of authenticity's various interpretations in the cultural tourism consumption context. Data were collected at 10 selected cultural and natural heritage sites in the island of Mauritius. Structural equation modeling was employed on a total sample of 600 tourists after a pretest. Path analysis was used to examine the effect of felt authenticity on tourists' intentions to consume cultural heritage attractions. Results indicated that the issue of authenticity is fundamental in destinations hosting unique natural and cultural resources increasingly sought by the modern traveler. The study enriches the theoretical and practical contributions of felt authenticity as a determinant of tourists' intentions to consume cultural authenticity in small island destinations.
Essays in Finance and Innovation

This dissertation consists of three essays on Finance and Innovation. The first essay argues that openness of research inputs can enable greater exploration of new research lines, particularly by academic researchers. We test this hypothesis by examining a natural experiment: NIH agreements that reduced the access costs imposed on academics regarding certain genetically engineered mice. We find that increased openness encourages the exploration of more diverse research paths, and does not reduce research into the creation of new genetically engineered mice. Overall, our findings highlight a neglected cost of strong intellectual property restrictions: lower levels of exploration leading to a reduction in the diversity of research output. The second essay analyzes clustering in firms’ layoff behavior and its links to financial markets. We develop a model in which managers delay layoffs during good economic states to avoid damaging their reputation. We test the model’s predictions by comparing the layoff behavior of publicly-listed and privately-held firms, and find that the layoffs of public firms are twice as sensitive to recessions. In addition, we find that the firms which cluster layoff announcements at high frequencies are also more likely to engage in mass layoffs during recessions. Our findings suggest that reputation management is an important driver of layoff policies both at daily frequencies and over the business cycle, and can have
Helping Others Regulate Emotion Predicts Increased Regulation of One’s Own Emotions and Decreased Symptoms of Depression

Although much research considers how individuals manage their own emotions, less is known about the emotional benefits of regulating the emotions of others. We examined this topic in a 3-week study of an online platform providing training and practice in the social regulation of emotion. We found that participants who engaged more by helping others (vs. sharing and receiving support for their own problems) showed greater decreases in depression, mediated by increased use of reappraisal in daily life. Moreover, social regulation messages with more other-focused language (i.e., second-person pronouns) were (a) more likely to elicit expressions of gratitude from recipients and (b) predictive of increased use of reappraisal over time for message composers, suggesting perspective-taking enhances the benefits of practicing social regulation. These findings unpack potential mechanisms of socially oriented training in emotion regulation and suggest that by helping others regulate, we may enhance our own regulatory skills and emotional well-being.
A Model for Evaluating Organizational Competencies: An Application in the Context of a Quality Management Initiative

Despite the important contributions made by the Competency-Based Perspective (CBP) to strategic thought, certain issues on the operational definition of the theoretical concepts that characterize this approach remain unresolved, thus limiting its empirical application. In addressing this issue, the present study puts forward a procedure for measuring the competencies that can be developed in association with a Quality Management (QM) initiative and analyzes the reliability and validity of the resulting scale. This procedure could be transferred to studies that aim to carry out an empirical analysis based on the theoretical position of the CBP.
Unintended Impacts of Public Investments on Private Decisions: The Depletion of Forested Wetlands

By affecting relative economic returns, infrastructure investments can induce major changes in private land use. The authors find that 30 percent of forested wetland depletion in the Mississippi Valley has resulted from private decisions induced by federal flood-control projects, despite explicit federal policy to preserve wetlands. The model aggregates individual land-use decisions using a parametric distribution of unobserved land quality; dynamic simulations are used to quantify the impacts on wetlands of federal projects and other factors. Copyright 1990 by American Economic Association.
Career gridlock: baby boomers hit the wall

Executive Overview This article examines ways in which work organizations have been affected by people born between 1946 and 1964. The baby boomers' values, behaviors, and family orientations are significantly impacting industry. Over the next ten years, this group faces the likelihood of serious career plateauing. The difference in career orientation and advancement prospects equates to a growing value and opportunity gap in management. While the number of ways of achieving promotional success is finite (and shrinking), we believe that the number of ways of achieving psychological success is infinite. In addition, many people in this age group have a good sense of where they want to head with their protean or self-directed careers. The key is to discourage long-term career planning and instead to facilitate managers and employees in self-assessment, empowering them to take advantage of opportunities for psychological success, as they arise. The challenge for organizations is to match human resource pract.
Random Walks and Technical Theories: Some Additional Evidence

THE RANDOM WALK and martingale efficient market theories of security price behavior imply that stock market trading rules based solely on the past price series cannot earn profits greater than those generated by a simple buy-and-hold policy1. A vast amount of statistical testing of the behavior of security prices indicates very little evidence of any important dependencies in security price changes through time.2 Technical analysts or chartists, however, have insisted that this evidence does not imply their methods are invalid and have argued that the dependencies upon which their rules are based are much too subtle to be captured by simple statistical tests. In an effort to meet these criticisms Alexander (1961, 1964) and later Fama and Blume (1966) have examined the profitability of various "filter" trading rules based only on the past price series which purportedly capture the essential characteristics of many technical theories. These studies indicate the "filter" rules do not yield profits net of transactions costs which are higher than those earned by a simple buy-andhold strategy. Similarly, James (1968) and Van Horne and Parker (1967) have found that various trading rules based upon moving averages of past prices do not yield profits greater than those of a buy-and-hold policy.
Presence and concentrations of the Fusarium-related mycotoxins beauvericin, enniatins and moniliformin in finnish grain samples

Fusarium mycotoxins beauvericin, enniatins (A, A1, B, B1) and moniliformin were analysed in 38 Finnish grain samples (14 wheat, 22 barley, one rye, one oats) harvested in 2001–02. The contaminating Fusarium species were identified with the primer-specific polymerase chain reaction as well as with morphological studies. All the studied mycotoxins were found in the samples. Enniatins B and B1 were detected in all samples, and enniatin A, enniatin A1, beauvericin and moniliformin in 74, 95, 95 and 74% of the samples, respectively. There were higher concentrations of the mycotoxins analysed in 2001 compared with 2002. The highest levels of mycotoxins were detected in samples harvested late in the autumn after a long rainy period. Fusarium avenaceum was the most abundant Fusarium species in Finland during both years (0–29.5%) measured as infected kernels. A significant correlation was found between F. avenaceum contamination level and the concentration levels of enniatins B and B1, as well as moniliformin.