Miracle-dz/UniFAR-FTUs huggingface dataset:
What Drives the Business Cycle in a Small Open Economy? Evidence from an estimated DSGE Model of the

Estimated DSGE models have become the standard workhorse model for empirically based macroeconomic analysis in recent years. In this paper, we present an estimated DSGE model for Denmark. The model has been estimated using Bayesian methods and a dataset consisting of 22 variables spanning the sample period 1st quarter 1995 to 4th quarter 2012. We use the model to identify the most important determinants of business cycle ‡uctuations in Denmark. Our results indicate that shocks to foreign economies explain around 50 pct. of the variation in Danish real GDP. The build up to the …nancial crisis and the bust was also driven by foriegn shocks as well as high domestic demand leading to price pressures, which …scal policy did not combat su¢ ciently. JEL classi…cation: C11, E17, E27, E32.
Is CEO Duality Always Negative? An Exploration of CEO Duality and Ownership Structure in the Arab IPO Context

Our results contribute to the existing debate on the appropriate regulations for an effective and stable financial system in Arab countries. They offer policy-makers additional evidence on the positive impact of market openness to foreign shareholders. This paper examines the level and determinants of IPO underpricing in the MENA region. It provides evidence on the role played by foreign strategic owners in reducing agency conflicts and information asymmetries within an environment where firms may be affected by the cultural issues related to political ties and family involvement. Using all IPOs from January 2000 until the end of July 2007, we document an average IPO underpricing of 184.1 per cent. Underpricing is higher in IPO firms that have CEO duality. However, strategic shareholders, such as corporations and other industry-related investors, are likely to play a monitoring role whereas underpricing is found to be lower in firms with both CEO duality and strategic shareholder ownership. Moreover, the negative relation between underpricing and strategic blockholding is greater for foreign strategic ownership than it is for domestic strategic ownership. This paper examines the relationships between initial public offering (IPO) underpricing, CEO duality, and strategic ownership in 12 Arab countries of the Middle East and North Africa (MENA) region. Empirical This paper examines the relationships between initial public offering (IPO) underpricing, CEO duality, and strategic ownership in 12 Arab countries of the Middle East and North Africa (MENA) region. Using all IPOs from January 2000 until the end of July 2007, we document an average IPO underpricing of 184.1 per cent. Underpricing is higher in IPO firms that have CEO duality. However, strategic shareholders, such as corporations and other industry-related investors, are likely to play a monitoring role whereas underpricing is found to be lower in firms with both CEO duality and strategic shareholder ownership. Moreover, the negative relation between underpricing and strategic blockholding is greater for foreign strategic ownership than it is for domestic strategic ownership. This paper examines the level and determinants of IPO underpricing in the MENA region. It provides evidence on the role played by foreign strategic owners in reducing agency conflicts and information asymmetries within an environment where firms may be affected by the cultural issues related to political ties and family involvement. Our results contribute to the existing debate on the appropriate regulations for an effective and stable financial system in Arab countries. They offer policy-makers additional evidence on the positive impact of market openness to foreign shareholders.
BALANCING COORDINATION AND AUTONOMY DURING POST-ACQUISITION WITHIN A HIGH-TECH FIRM

Extant literature suggests that acquisition of innovative capability is challenging: the acquired firm must be integrated to realise synergies, but such integration might jeopardise the ability to sustain its innovative capability within the acquiring firm. However, we know little about how managers address this coordination-autonomy dilemma post-acquisition. We therefore investigated how GlobalTech, a multi-national telecommunications solutions provider integrated SmartTech, a small, innovative firm with an adaptive infrastructure management solution and a customer-driven innovation approach. Drawing on dynamic capability theory (DCT) and focusing on structural integration and informal coordination, we reveal how the two management teams collaborated over a two-year period to sustain SmartTech’s innovation capability while at the same time leveraging it as part of GlobalTech’s position and future path. In conclusion, we present a process model with related action strategies for how organisations can orchestrate dynamic capability to manage the coordination-autonomy dilemma post-acquisition.
The Relationship between Leader-Member Exchange (LMX) and Psychological Empowerment: A Quick Casual Restaurant Employee Correlation Study

This study identifies the relationship between leader-management exchange (LMX) and psychological empowerment and the role of selected demographics in the relationship between fast-casual restaurant employees. Despite some research popularity, few studies have been conducted to determine the relationship of these theories in combination in the hospitality industry. Survey instruments include Spreitzer’s 12-item psychological empowerment and LMX-7, as well as a demographic questionnaire. The study encompasses 173 employees from 20 restaurants in the continental United States. The characteristics of the respondents are presented with descriptive statistics. Bivariate correlations are used to test the research hypotheses. The findings reveal that LMX has a statistically significant positive relationship with psychological empowerment as well as its dimensions (attitude and influence). In addition, the relationship between LMX and psychological empowerment was statistically significant across all subgroups in terms of demographics.
Indoor Ultra-Wideband Channel Characteristics Considering Human Body Effect

Ultra-wideband (UWB) indoor channel characteristics which incorporate human body effects are analyzed. Channel impulse responses (CIRs) are measured in the frequency band of 3 GHz to 4.6 GHz in four different classrooms. For each measurement site, the proportion of occupied seats is changed to observe the effect of the number of people on the wireless propagation channel. First, path-loss exponents are calculated from the measurement data. After that, using Inverse Fast Fourier Transform (IFFT), CIRs are derived. Based on the CIRs, the comparison among the bit error rate performance, partial Rake receiver, and selective Rake receiver are investigated. The result shows that the human body effect including changes of population on UWB channel should be considered when the performances of UWB communication system are evaluated.
The Culture of Corruption, Tax Evasion, and Economic Growth

type="main" xml:id="ecin12228-abs-0001"> This study uses a dynamic general equilibrium model to quantify the effects of corruption and tax evasion on fiscal policy and economic growth. The model is calibrated to match estimates of tax evasion in developing countries. The calibrated model is able to generate reasonable predictions for net tax rates, the corruption associated with public investment projects, and the negative correlation between corruption and tax revenue. The presence of corruption and evasion is shown to have significant, but not large, negative effects on economic growth. The relatively moderate effects help explain the absence of a robust negative correlation between growth and corruption in cross-country data. The model also implies that cracking down on tax evasion before addressing corruption can be a bad idea and that higher wages for public officials can improve welfare. (JEL H3, O4)
Free Speech, Free Beer and Free Labour - Volunteering Social Capital, and the Individuals who author Open Source Software

In most contexts where open source computer software is used – private, business, education, and third sector – the primary benefit for organisations and end users is that the software is of very high quality, is free of charge and is free of legal and administrative encumbrance. On closer analysis however, it becomes clear that the context in which this software is authored is of great relevance the third sector and to the field of volunteering. This paper, written for a non-technical third-sector audience, presents a discussion of the nature of open source software, the people who author it, and their contribution to society. The question of whether social capital can be generated amongst groups of individuals who have never met in person is presented, and the Levy (2006) framework is applied to demonstrate that a great many of the individuals who author open source software are in fact volunteers consistent with the Volunteering Australia definition of volunteering.
Neuropsychological Impairment in Major Depression: Its Nature, Origin and Clinical Significance

Neuropsychological impairment is well established as a feature of major depressive disorder (MDD) but studies have shown a variable pattern of impairment. This paper seeks first to clarify this by examining methodological and clinical factors that give rise to variability in study findings. Second, it examines theories of the origin of these neuropsychological abnormalities. Third, it reviews evidence regarding the clinical significance of different patterns of deficit. A selective review was undertaken of the literature with a particular emphasis on methodological factors, the influence of clinical subtypes and prevalent theories of neuropsychological abnormality. Methodological issues and the heterogeneity of MDD account for considerable variability in results. Specific investigation of the subtypes of psychotic MDD, melancholic MDD and bipolar depression reduces this heterogeneity and results are more consistent in the elderly. Hypothalamic–pituitary–adrenal axis dysfunction is associated with neuropsychological dysfunction in MDD although evidence of direct causation is not definitive at present. Impairment of executive and psychomotor function is a consistent finding, particularly in the elderly, and may reflect frontostriatal–limbic dysfunction. There is growing evidence that this may have clinical significance. It is suggested that future research take very careful account of the exact phenotype of MDD. Classification based on neuropsychological profile may, in fact, be useful. Further research should examine further the clinical importance of patterns of neuropsychological impairment.
Pay Determination in Small Firms in the UK: The Case of the Response to the National Minimum Wage

Pay determination in small firms is widely expected to follow the dictates of the market. Research on 81 firms in three competitive sectors finds, instead, loosely defined and variable pay structures. This variability is explained in terms of the interplay between labour and product markets, firms' own choices, and 'shocks' such as the National Minimum Wage. This analysis thus contributes to developing institutional theories of labour markets and pay systems.
Influence of drug treatment on glucocorticoid receptor levels in patients with coronary heart disease.

BACKGROUND Glucocorticoid signaling exerts major roles in inflammation, metabolism and depression, which are three crucial factors accompanying or underlying coronary heart disease. Although accumulating evidence indicates the influence of glucocorticoids on the pathology and treatment of coronary heart disease, there is still a dearth of pharmaceutical mechanisms for this relationship. This study aimed to investigate the influence of drug treatment on glucocorticoid receptor levels in coronary heart disease. METHODS Eighty hospitalized patients (average age (59.0 +/- 7.5) years, 46 male and 34 female) with coronary heart disease were categorized into four groups with 20 members in each according to one of the four drugs they were treated with. The four drugs were: nitrated derivative isosorbide dinitrate, the beta-adrenergic receptor blocker metoprolol, the calcium antagonist nifedipine, and the HMG-CoA reductase inhibitor lovastatin. Glucocorticoid receptor protein levels of peripheral blood lymphocytes were tested using immunoblotting analysis before and after one month of treatment. RESULTS Immunoblotting analysis showed increased glucocorticoid receptor levels after treatment with metoprolol and nifedipine. There were no statistically significant changes of glucocorticoid receptor levels after treatment with isosorbide dinitrate or lovastatin, although there were trends of up-regulation of glucocorticoid receptor expression after both treatments. CONCLUSIONS Both the beta-blocker and the calcium blocker can increase glucocorticoid receptor levels after chronic administration. This effect suggests a mechanism for their anti-inflammatory and other therapeutic roles for coronary heart disease and comorbid disorders.
The Effects of Legal Protections and Control-Ownership Divergences on Investor Perceptions of Foreign Earnings

Purpose - The purpose of this paper is to investigate the impact of corporate internationalization, governance structures, and legal protections on the foreign earnings response coefficient (FERC). The FERC is a measure of the value-relevance of foreign earnings. Design/methodology/approach - Data were collected on 3,653 Taiwanese firms which had overseas investments. The authors examined the impact of the site of their overseas investments and the nature of the legal code of the investee country on the investor perceptions of firms' reported foreign and domestically-generated earnings. Also examined was the impact of corporate governance arrangements (e.g. the difference between the owners' cash flow and voting rights) on the same components of the firms' earnings. Findings - The empirical findings suggest that an aggressive internationalization strategy (foreign direct investment) has positive effects on the value relevance of foreign earnings, but that this strategy is impacted by the firm's own corporate governance arrangements and the target of its overseas investment efforts. While foreign investments bring about growth and profits, they expose the investors to the risk of expropriation by investee countries and corporate insiders. Originality/value - The importance of the findings is that they should help regulatory agencies – and firms themselves – to better understand factors that can promote the global expansion of domestic enterprises.
The management of post-merger cultural integration: implications from the hotel industry

This paper explores employees' reactions to the management of post-merger cultural integration in the hotel industry. Using a mixed method design incorporating a structured card sort of possible emotions and subsequent in-depth interview, data were collected from 30 head office employees. Findings highlight the importance of the human dynamics of a merger, emphasising the importance of strong leadership, open and honest communication as pre-cursors to integration and suggest the need for a pre-merger cultural audit. Merging two organisations involves the dedication of a remarkable level of resources and activities both before and after the merger and yet, a successful outcome is uncertain and is subject to effective management of cultural integration.
Europeanization of national public spheres? Cross-national media debates about the European Union's socio-economic strategy

ABSTRACTThis paper studies the Europeanization of media coverage of the European Union's (EU) socio-economic strategy, which is a crucial building block for developing a European Public Sphere. As the EU level increasingly influences public policy in member states, there should correspondingly be a more intense and visible media debate with attention for EU-level and cross-national policies and developments. On the basis of a content analysis (2000–2010) in Denmark, France, Poland and the UK, we find that media attention for the EU's growth and jobs strategy is limited, that it does not increase over time and that it is mainly driven by the EU agenda. There are cross-national similarities in thematic focus and EU-level actors are omnipresent in reporting on the strategy. Finally, we find that coverage of the strategy has a transnational dimension in all four cases, with reference to peer countries in terms of benchmarking and reporting on criticism and advice to member states. This criticism is more often.
Residents’ attitudes toward the 2010 World Expo in Shanghai prior to and during the event

This paper examines residents’ attitudes to a major non-sport-related mega event, the 2010 Shanghai Expo. Resident attitudes research can ascertain how best to accommodate host community views, a key issue in developing sustainable tourism strategies. The paper breaks new ground by examining attitudes both before and during the event, revealing considerable fluidity in attitudes, and it examines residents’ attitudes in China, reflecting the importance of non-western cultural and political systems on attitude development. The paper contributes to longitudinal research, an area where little research is available. Two studies were conducted before and during the 2010 Shanghai World Expo using the same survey instrument. It is based on a representative sample of residents of Shanghai who were asked about their attitudes to Expo 2010. Results indicate that residents on the whole strongly supported (77.9%) or supported (12.7%) the event with all the average scores of the attitude items higher than 5 (on a 1–7 scale). Some negative impacts were identified such as increased prices, traffic problems, crowding and congestion. Residents were classified into three groups in the pre-event survey (whole embracer, ambivalent embracer and neutralist), according to their level of support, and two groups for the survey during the event.
Formation and Survival of New Ventures

This article proposes a staged model of how relevant interpersonal and interorganizational networks can affect the formation and survival of new entrepreneurial ventures. Focusing on two critical points in new entrepreneurial venture formation, the article posits that the formation process requires not only the supply of appropriate resources, but also specific patterns of resource exchanges between the entrepreneur, the potential new venture and their respective networks. The model advances the existing literature on new entrepreneurial venture formation by highlighting the importance of maintaining appropriate patterns of resource exchanges between the entrepreneur’s new venture and the relevant networks in which the venture embeds.
Raising the minimum in the minimal group paradigm.

Ingroup bias found in the Minimal Group Paradigm is an important finding for theories of intergroup relations. However, explanation of the finding is controversial. In this study, we contrast the Social Identity Theory explanation of ingroup bias with / a new alternative hypothesis. We argue that ingroup bias is a result of subjects employing a self-interested quasi-strategy in an attempt to gain greater material i benefits for themselves. Although the strategy cannot be successful, we argue that the interdependence situation characteristic of the Minimal Group Paradigm deceives I subjects into believing it can be successful. Consequently, when subjects are not t dependent on other subjects for their own rewards in the Minima1 Group Paradigm, I ingroup bias disappears. Results of our experiment support the interdependence
α-Synuclein Is Required for the Fibrillar Nature of Ubiquitinated Inclusions Induced by Proteasomal Inhibition in Primary Neurons*

Proteasomal dysfunction may underlie certain neuro-degenerative conditions such as Parkinson disease. We have shown that pharmacological inhibition of the proteasome in cultured neuronal cells leads to apoptotic death and formation of cytoplasmic ubiquitinated inclusions. These inclusions stain for α-synuclein and assume a fibrillar structure, as assessed by thioflavine S staining, and therefore resemble Lewy bodies. α-Synuclein is thought to be a central component of Lewy bodies. Whether α-synuclein is required for inclusion formation or apoptotic death has not been formally assessed. The present study examines whether α-synuclein deficiency in neurons alters their sensitivity to proteasomal inhibition-induced apoptosis or inclusion formation. Cortical neurons derived from α-synuclein-null mice showed a similar sensitivity to death induced by the proteasomal inhibitor lactacystin compared with neurons derived from wild-type mice. Furthermore, the absence of α-synuclein did not influence the percentage of lactacystin-treated neurons harboring cytoplasmic ubiquitinated inclusions or alter the solubility of such inclusions. In contrast, however, ubiquitinated inclusions in α-synuclein-deficient neurons lacked amyloid-like fibrillization, as determined by thioflavine S staining. This indicates that although α-synuclein deficiency does not affect the formation of ubiquitinated inclusions, it does significantly alter their structure. The lack of effect on survival in α-synuclein knock-out cultures further suggests that the fibrillar nature of the inclusions does not contribute to neuronal degeneration in this model.
Identification of a CACNA2D4 deletion in late onset bipolar disorder patients and implications for the involvement of voltage‐dependent calcium channels in psychiatric disorders

The GWAS‐based association of CACNA1C with bipolar disorder (BPD) is one of the strongest genetic findings to date. CACNA1C belongs to the family of CACN genes encoding voltage‐dependent calcium channels (VDCCs). VDCCs are involved in brain circuits and cognitive processes implicated in BPD and schizophrenia (SZ). Recently, it was shown that rare copy number variations (CNVs) are found at an increased frequency in SZ and to a lesser extent also in BPD, suggesting the involvement of CNVs in the causation of these diseases. We hypothesize that CNVs in CACN genes can influence the susceptibility to BPD, SZ, and/or schizoaffective disorder (SZA). A search for CNVs in eight CACN genes in a patient‐control sample of European decent was performed. A total of 709 BP patients, 645 SZ patients, 189 SZA patients, and 1,470 control individuals were screened using the Multiplex Amplicon Quantification (MAQ) method. We found a rare, partial deletion of 35.7 kb in CACNA2D4 in two unrelated late onset bipolar I patients and in one control individual. All three deletions shared the same breakpoints removing exons 17–26 of CACNA2D4, comprising part of the CACHE domain. Based on the data we cannot claim causality to BPD of the identified CACNA2D4 deletion but nevertheless this deletion can be important in unraveling the underlying processes leading to psychiatric diseases in general and BPD in particular. © 2012 Wiley Periodicals, Inc.