Miracle-dz/UniFAR-FTUs huggingface dataset:
Why Did NASDAQ Market Makers Stop Avoiding Odd‐Eighth Quotes?

On May 26 and 27, 1994 several national newspapers reported the findings of Christie and Schultz (1994) who cannot reject the hypothesis that market makers of active NASDAQ stocks implicitly colluded to maintain spreads of at least $0.25 by avoiding odd-eighth quotes. On May 27, dealers in Amgen, Cisco Systems, and Microsoft sharply increased their use of odd-eighth quotes, and mean inside and effective spreads fell nearly 50 percent. This pattern was repeated for Apple Computer the following trading day. Using individual dealer quotes for Apple and Microsoft, we find that virtually all dealers moved in unison to adopt odd-eighth quotes. THIS ARTICLE DOCUMENTS A sudden and dramatic narrowing of the inside spreads for Amgen Inc., Apple Computer Inc., Cisco Systems, Intel Corp., and Microsoft Corp. As Table I indicates, each of these stocks is among the 10 most actively traded firms listed on the National Association of Securities Dealers Automated Quotation System (NASDAQ) in 1993. These stocks are traded by at least 40 market makers and are among the largest market capitalization stocks listed on NASDAQ. Despite their high volume and visibility, each of these issues was quoted with spreads of at least $0.25 throughout 1993 and the first five months of 1994. However, the inside spreads for Amgen, Cisco, and Microsoft fell by nearly 50 percent beginning on May 27 and have averaged between $0.151 and $0.175 through July 1994. The inside spread for Apple Computer fell by almost 50 percent on the following trading day, while Intel spreads declined by a smaller amount on June 10. This shift in the width of the inside spreads is remarkable both in its rapidity and its magnitude. '
Meiotic recombination initiated by a double-strand break in rad50 delta yeast cells otherwise unable to initiate meiotic recombination.

Meiotic recombination in Saccharomyces cerevisiae is initiated by double- strand breaks (DSBs). We have developed a system to compare the properties of meiotic DSBs with those created by the site-specific HO endonuclease. HO endonuclease was expressed under the control of the meiotic-specific SPO13 promoter, creating a DSB at a single site on one of yeast's 16 chromosomes. In Rad+ strains the times of appearance of the HO-induced DSBs and of subsequent recombinants are coincident with those induced by normal meiotic DSBs. Physical monitoring of DNA showed that SPO13: : HO induced gene conversions both in Rad+ and in rad50 delta cells that cannot initiate normal meiotic DSBs. We find that the RAD50 gene is important, but not essential, for recombination even after a DSB has been created in a meiotic cell. In rad50 delta cells, some DSBs are not repaired until a broken chromosome has been packaged into a spore and is subsequently germinated. This suggests that a broken chromosome does not signal an arrest of progression through meiosis. The recombination defect in rad50 delta diploids is not, however, meiotic specific, as mitotic rad50 diploids, experiencing an HO-induced DSB, exhibit similar departures from wild-type recombination.
Employee selection: Will intelligence and conscientiousness do the job?

Executive Overview Despite years of research designed to match jobs and people, selection decisions are not always based on an exact fit between the person and the job. Microsoft values intelligence over all else, for all jobs. Southwest Airlines values character. When are these general characteristics adequate to the task of selecting job candidates? Should firms value intelligence and conscientiousness above specific skills?
Portfolio optimisation beyond semimartingales: shadow prices and fractional Brownian motion

While absence of arbitrage in frictionless financial markets requires price processes to be semimartingales, non-semimartingales can be used to model prices in an arbitrage-free way, if proportional transaction costs are taken into account. In this paper, we show, for a class of price processes which are not necessarily semimartingales, the existence of an optimal trading strategy for utility maximisation under transaction costs by establishing the existence of a so-called shadow price. This is a semimartingale price process, taking values in the bid ask spread, such that frictionless trading for that price process leads to the same optimal strategy and utility as the original problem under transaction costs. Our results combine arguments from convex duality with the stickiness condition introduced by P. Guasoni. They apply in particular to exponential utility and geometric fractional Brownian motion. In this case, the shadow price is an Ito process. As a consequence we obtain a rather surprising result on the pathwise behaviour of fractional Brownian motion: the trajectories may touch an Ito process in a one-sided manner without reflection.
Recurrence of Basosquamous Carcinoma after Mohs Micrographic Surgery

Background: The recurrence rate of basal cell carcinoma (BCC) after Mohs micrographic surgery (MMS) is well documented. Only little is published concerning the recurrence rate in relation to the different histologic subgroups. Objective: To analyze the recurrence rate of the different histologic groups and subgroups after MMS. Subjects and Methods: We investigated 1,000 cases of epidermal tumors in a private center of MMS including BCC, squamous cell carcinoma and basosquamous carcinoma (BSC) treated by MMS from 1998 to 2007 in a retrospective study. The cases where analyzed regarding the histologic groups and subgroups. The mean follow-up time was 59.55 months. Results: The recurrence rate of epidermal tumors in this study was about 2.5% and comparable to that in the literature. Interestingly we observed a relatively high incidence and recurrence rate of BSC compared to other studies. Conclusion: BSC seems to be highly aggressive and subject to recurrence even after MMS. The classical approach to stop further excision once the excision is total should be reevaluated.
The effects of diets formulated on an ideal protein basis on growth performance, carcass characteristics, and thermal balance of finishing gilts housed in a hot, diurnal environment.

Forty-eight finishing gilts (initial BW = 70.6 +/- .95 kg) were randomly assigned to one of eight experimental treatments in a 2 x 2 x 2 factorial arrangement with main effects including dietary lysine (.60 vs 1.00%), source of amino acid fortification (intact protein vs synthetic amino acids formulated on an ideal protein basis), and environmental temperature (thermoneutral [TN]: 20 degrees C vs hot, diurnal [HD]: 27.7 to 35 degrees C). The ideal protein diets were formulated by using corn and soybean meal to meet the fifth-limiting amino acid; synthetic lysine, threonine, tryptophan, methionine, or isoleucine were added to meet the gilts' estimated requirements. The ratios of other total amino acids relative to lysine were as follows: threonine, 66%; tryptophan, 17%; methionine and cystine, 56%; and isoleucine, 63%. Average daily gain, ADFI, and feed efficiency (G/F) were similar for gilts fed the intact and those fed the ideal proteins diets (P > .10). Increasing dietary lysine improved d 0 to 14 ADG (P < .01), but no differences were observed for the overall experiment. Gilts in the HD environment ate less feed and had lower ADG than gilts in the TN environment (P < .01). A temperature x lysine interaction was observed (P < .02) for G/F. Increasing dietary lysine had no effect on G/F of gilts in the TN environment but improved G/F of gilts in the HD environment. Gilts fed the intact protein diets had higher (P < .01) N intake and plasma urea concentrations. Gilts fed the ideal protein diets had lower (P < .05) plasma essential amino acids, with the exception of lysine. Carcass protein and lipid contents were improved (P < .01) for gilts in the HD environment and for those fed 1.00% lysine. Backfat thickness and longissimus muscle area (P < .01) were improved and lipid accretion rate tended to decrease (P < .08) in gilts fed 1.00% lysine. The source of amino acid fortification did not influence carcass characteristics (P > .10). Rectal, skin, and ear temperatures were higher for gilts in the HD environment (P < .05). Metabolic heat production was elevated by feeding gilts the ideal protein diets (P < .03). In conclusion, increased dietary lysine improved G/F and carcass leanness in gilts to a greater extent in HD than in TN environments. However, no improvements in growth performance or carcass traits resulted from feeding ideal protein diets.
Comparison of food plant knowledge between urban vietnamese living in vietnam and in Hawai‘i

Ethnographic interviews using photographs of 10 traditional Vietnamese fruits and vegetables were used to compare the knowledge level and use of traditional food plants between Vietnamese in urban Bien Hoa, Vietnam, and in Honolulu, Hawai‘i. In both communities, there was a positive correlation between age and knowledge (as measured by correct identification, and number of food uses for the plants). Vietnamese immigrants in Hawai‘i listed more food uses than those in Vietnam due to adoption of multi ethnic foods found in Honolulu.ResumenSo sánh su hiêu biêt vé rau qua cua nguói ViêtsÔng O thãnh phÔ O Viêt Nam vã Ha Uy Di. Cách phong vân dúng nhung tâm hinh vê muái loai rau qua truyên thông cua nguói Viêt cho so sánh su hiêu biêt vã cách dũng vê thúc an thuc vât truyên thông cua nguói Viêt O thãnh phâ Biên HoÃ, Viêt Nam vã Honolulu, Ha Uy Di. Ca hai câng dông ngóbi c|~o tuôi có nhiêu su hiêu biêt hon ngubi tre tuôi (do luõng nhÂn ra vã boa nhiêu cách dúng cho thuc vât). Nguói nhâp eu Viêt b Ha Uy Di biêt nhúng thúc an cách dũng nhiêu hon nguói sông o Viêt Nam vi chung tiêp thu thêm duoc nhung thúc an cúa các van hõa o Honolulu.
The Bacterial Pathogenesis of Infection Following Cesarean Section

To further define the bacterial pathogenesis of infections following cesarean section, amnionic fluid was obtained transabdominally at the time of surgery from 56 women whose membranes were ruptured for more than 6 hours. In all specimens, bacterial growth was demonstrated, and 53 of these women developed postoperative myometritis. A mean of 2.5 pathogenic bacteria was isolated from each specimen. More than 90% of the amnionic fluid specimens had polymicrobial anaerobic/aerobic growth (63%) or anaerobes only (30%). Aerobic and anaerobic streptococci accounted for 72% of all bacterial isolates; Bacteroides and Escherichia coli were the next most commonly recovered species. In women treated for myometritis and who subsequently developed a wound or pelvic abscess, cultures from these wounds or abscesses were positive for 1–3 organisms present in amnionic fluid. These data indicate that ascending colonization of flora from the lower genital tract and inoculation into surgically traumatized tissues usually result in polymicrobial pelvic infection with a predominance of anaerobic pathogens. Moreover, abscess development in these women is probably associated with organisms identified in amnionic fluid. Bacterial isolates from these women are remarkably similar to those from women with other pelvic infections.
Investor Protection and Foreign Equity Portfolio Investments

We examine whether greater investor protection leads to greater portfolio investments by utilizing different forms of investor protection measures and bilateral foreign equity portfolio investment data across 37 developed and developing markets. After controlling for a host of confounding factors, we find strong evidence that countries with better investment profile, quality of institutions, and a track record of law enforcement appear to attract higher levels of foreign portfolio investments
ClinRefLink: Implementation of Infobutton-like Functionality in a Commercial Clinical Information System Incorporating Concepts From Textual Documents

Clinical information systems offer an opportunity to provide clinicians with medical reference materials during clinical encounters when the information is most beneficial. Implementation of this "Infobutton" concept has been described by a number of institutions with locally developed clinical information systems and electronic medical records. This article describes the development of an infobutton-like application called ClinRefLink embedded within a commercial clinical information system. ClinRefLink is somewhat unique in that it offers clinicians the option to perform reference searches based on clinical entities identified within narrative documents. In the first 30 days after implementation, 1018 reference searches were performed. The characteristics of the clinicians and the clinical context of the search terms are described. These data support the value of clinical term extraction from narrative documents as a component of an infobutton system.
Mind the gap and bridge the gap: research excellence and diffusion of academic knowledge in Sweden

This paper aims to highlight the changing and diversifying nature of academic work related to various forms of knowledge production and diffusion. Focusing on the changing research policy landscape in Sweden, three interrelated questions are investigated: what academics do in terms of commercialisation and public dissemination; how they perform these activities; and why they engage in these activities. Based on data from a recent survey with over 10,000 academics in Sweden, we identify and analyse ‘high-performing’ researchers, in the context of the commercialisation and public dissemination of their academic work. The quantitative analysis is supplemented by qualitative interviews with scientists at strong research environments in Sweden. We argue that there is a virtuous cycle connecting different academic activities in strong research environments — research excellence and excellence in knowledge production on one hand, and knowledge diffusion activities, such as commercialisation and public dissemination, on the other hand. Copyright , Beech Tree Publishing.
Associations of perceived pain and painless TMD‐related symptoms with alexithymia and depressive mood in media personnel with or without irregular shift work

The aim of the present study was to analyze whether previously emerged pain symptoms and painless temporomandibular disorder (TMD) symptoms are associated with alexithymia and self‐rated depression among media personnel in or not in irregular shift work. A standardized questionnaire was mailed to all employees of the Finnish Broadcasting Company in irregular shift work (n = 750) and to an equal number of randomly selected controls in regular 8‐h daytime work. The questionnaire covered demographic items, employment details, general health experience, physical status, psychosomatic symptoms, psychosocial status, stress, work satisfaction and performance, and health-care use. Studied age groups, marital status, gender or perceived health were not significantly associated with alexithymia in the bivariate analyses. Most studied painless TMD symptoms associated significantly with alexithymia. Alexithymia was also significantly more prevalent among those who reported having more often than average neck pain (P<0.05), head pain (P<0.01), and tender teeth (P<0.01). According to logistic regression, the probability of alexithymia was significantly positively associated with pain symptoms (P<0.01) and painless TMD-related symptoms (P<0.01), and significantly negatively associated with female gender (P<0.01). Additionally, depressive mood was significantly positively associated with dissatisfaction of one's work-shift schedule (P<0.05), and poorer health experience (P<0.01). Neither alexithymia nor depression was associated with irregular shift work in itself. In conclusion, depressive mood may be a sign of dissatisfaction and impaired well‐being. In the case of perhaps less disabling but common physical symptoms alexithymia as a possible underlying factor may be relevant in the diagnosis and management of such disorders.
Chinese managers' career success networks: the impact of key tie characteristics on structure and interaction practices

Structured personal interviews were conducted with 105 senior and mid-level Chinese male and female managers, in which each respondent provided information about their career success network (CSN) ties. Using this data, we tested hypotheses on: (1) the age composition of Chinese managers' CSNs; (2) the face-to-face interaction practices within Chinese managers' CSNs; and (3) the roles of tie sex composition and tie content (position-centred versus person-centred ties) in influencing the age composition of and interaction practices within Chinese managers' CSNs. The results demonstrated that both Chinese male and female managers, while generally preferring to form CSN ties with individuals who are older than themselves, are relatively more reluctant to include middle-aged or elder women in their CSN. The age of those included in the respondents' CSN was also influenced by tie content and whether the tie spans the organizational boundary. With respect to interaction practices within the CSN, tie content moderated the relationship between tie sex composition and interaction practice. Female managers' person-centred ties with men had significantly lower levels of interaction outside the workplace than person-centred ties composed of members of the same-sex. However, this difference was not exhibited in the case of position-centred ties. Interestingly, the reluctance to socialize with the opposite-sex exhibited by female managers did not appear to be shared by their male counterparts. The implications of these results for career success in China are discussed.
Genistein Inhibits Intestinal Cell Proliferation in Piglets

Currently 15% of U.S. infants are fed soy formulas that contain up to 14 mg of genistein equivalents/L. Our goal was to investigate the impact of dietary genistein on intestinal development. Piglets (n = 8/group) were fed sow milk replacer (MR), MR + 1 mg/L of genistein (LG), or MR + 14 mg/L of genistein (HG) for 10 d. Formula intake, weight gain, and intestinal length and weight were similar in all groups. Average serum genistein concentration in the HG group was similar to that of soy formula–fed infants. No significant effects of genistein on enterocyte apoptosis, lactase, and sucrase activities or electrophysiologic measures were observed in jejunum or ileum. Jejunal and ileal villus heights were not significantly different, but the percentage of proliferating cell nuclear antigen–positive jejunal crypt cells in the HG was reduced 50% compared with that in MR and LG (p = 0.001), indicating decreased proliferation. Enterocyte migration distance in the HG group tended to be 20% less (p = 0.1) than LG or MR. Jejunal estrogen receptor β mRNA expression in HG was half of that in LG (p = 0.05), but neither was significantly different from MR. In conclusion, genistein at the level present in soy infant formula is bioactive in the small intestine and results in reduced enterocyte proliferation and migration. The lack of effect of genistein on nutrient transport and enzyme activity suggests that the impact of genistein is greater on proliferating versus differentiated intestinal cells.
Osteopontin Function in Pathology: Lessons from Osteopontin-Deficient Mice

Osteopontin (OPN) is a soluble secreted phosphoprotein that binds with high affinity to several different integrins. While numerous activities have been ascribed to OPN in vitro, and several in vivo functions have been suggested for the molecule, including much attention focused recently on OPN in different pathologies, the actual role that the protein plays in mammalian physiology remains conjectural. Analysis of recently developed strains of mice lacking OPN because of a targeted disruption of its gene promises to provide important information on this issue. Here, we review the data implicating OPN as functioning in a variety of pathologic conditions as well as the initial results generated with the OPN knockout mice, with particular focus on the question of whether OPN has a protective or a damaging effect in different pathologies. These data will be important to the definition of how OPN contributes to mammalian physiology and pathophysiology.
The Two Faces of Adam Smith

Adam Smith’s two major works are based on apparently contradictory themes in human nature: noncooperative self-interest and other-regarding sympathy. These views are not contradictory if we distinguish impersonal market exchange and personal exchange. Noncooperative behavior in the former maximizes the gains from exchange, the basis of specialization and wealth creation. Cooperative behavior in personal exchange is based on reciprocity—trading gifts, favors, and assistance across time—which maximizes the gains from social exchange. That people can be both cooperative and noncooperative is corroborated in laboratory experiments and is postulated to stem from a self-interested propensity for exchange in markets and friendships.
The adoption of an accounting innovation in France: The case of consolidated financial statements at Pechiney (1956–1971)

Academic publications on the adoption of accounting innovations, such as consolidated accounts, have primarily focused on countries that use accounting methods developed in the USA, Australia and the UK. This article examines why Pechiney, a French company of international standing, adopted consolidated accounts in France during the 1960s. The findings indicate that Pechiney, aware that the production of consolidated financial statements was one of the criteria for acceptance, opted for consolidation in a bid to ensure that the company would be listed on the New York Stock Exchange. But this was not the only motivation. Firstly, Pechiney’s board of directors wanted to strengthen the parent company’s control over its subsidiaries by imposing consolidation procedures. Secondly, by acquiring expertise in the domain, the board hoped to exert substantial influence over the Conseil national de la comptabilité (French accounting standards authority) as and when this body was ready to introduce financial consolidation regulations.
Performance management and assessment: Methods for improved rater accuracy and employee goal setting

This article examines the gaps between research and practice in the areas of rater accuracy and goal setting. Prior research has shown that human resource managers may incorrectly believe that training raters to recognize errors will increase rater accuracy and that employee participation in goal setting is more effective than assigning goals. Theory-based research suggests ways to help raters recognize expected performance and enable employees to self-regulate their pursuit of goals. We describe applications of these findings to performance management programs and suggest methods for evaluating their effectiveness once implemented. © 2004 Wiley Periodicals, Inc.