Miracle-dz/UniFAR-FTUs huggingface dataset:
Prospect Theory in Choice and Pricing Tasks

The most distinctive prediction of prospect theory is the fourfold pattern (FFP) of risk attitudes. People are said to be (1) risk-seeking over low-probability gains, (2) risk-averse over low-probability losses, (3) risk-averse over high-probability gains, and (4) risk-seeking over high-probability losses. Using simple gambles over real payoffs, we conduct a direct test of this FFP prediction. We find that when pricing gambles subjects’ risk attitudes are consistent with the FFP. However, when they choose between the gamble and its expected value, their decisions are not distinguishable from random choice and are often the exact opposite of the prediction. These results hold both between and within subjects, and are robust even when we allow the subjects to simultaneously review and change their price and choice decisions.
Evidence of efficiency wage payments in uk firm level panel-data

The authors explicitly model the vertical spillovers that result from imperfections in both labor and product markets. They model the vertical spillovers from wage determination in an upstream labor market to market share performance in a downstream product market and vice versa. Rent sharing due to efficiency wages is shown to create a unique downstream vertical spillover, while rent sharing due to wage bargaining creates a two-way vertical spillover. Using U.K. firm level panel data, the authors show that downstream spillovers due to efficiency wage payments and union activity exist and constitute general direct evidence of efficiency wage payments in U.K. companies. Copyright 1994 by Royal Economic Society.
The surgical management of intractable postpartum hemorrhage

We thank Dr. James for his commentary on our work. We are able to partially address one of his questions using data from the MoBa cohort. In a related report (1), including 41,000 mothers from the MoBa cohort, only 2.5% of the mothers reported that they had been treated with hormones in connection with their pregnancy. Among the 37 women with anorexia nervosa (AN) in that sample, only one reported hormonal treatment. We repeated these analyses on our current AN sample and again found only one participant who reported hormonal treatment. Other indices of hormonal status are not available to further address his question. Most importantly, our reported observation was purposefully presented as a hypothesis-generating result as highlighted in our abstract ‘If confirmed, this finding could provide evidence in formulating hypotheses regarding the consequences of eating disorders and determinants of sex ratio at birth’. We appreciate Dr. James’ further hypothesizing regarding our data. Cynthia M. Bulik, Leila Torgersen, Ted Reichborn-Kjennerud, Kelly Gendall, Anne Von Holle
Characteristics of Firearms and Gunshot Wounds as Markers of Suicide

Data from a total of 1,200 cases that the Medical Examiner of Dallas County, Texas, ruled as suicide with a firearm have been compared with the results of forensic laboratory examinations and tests; 75% are with handguns and 25% are with long guns. The incidence of suicides by gender yields 82% males and 18% females, with the most common entrance site being the head. With regard to racial distribution of persons committing suicide, >88% are white in the study population group, which is 76% white. Data are presented for the incidence of blood detected inside and on the muzzle end of the barrel of the firearm, and for the persistence of blood inside the barrel even after the weapon was discharged to obtain test bullets. The analysis of handwipings for primer residues shows that “positive” results are obtained for ˜50% of the revolvers and ˜32% of the pistols when the caliber is >22. Other projects such as transfer of gunshot residues to the hand by simply handling the weapon, the incidence of single-contact wounds in homicide versus suicide cases, and the percent of positive identification of bullets with weapons submitted are described
Asset Pricing Anomalies and Macroeconomic Risk

This paper provides a comprehensive examination of whether portfolios formed on capital asset pricing model anomalies capture information related to changes in the investment opportunity set and therefore may appropriate candidates as state variables within Merton’s (1973) ICAPM framework. Consistent with prior literature that relates them to macroeconomic risk, the size and momentum factors are shown to lose their explanatory power after controlling for innovations in state variables. In contrast, returns on portfolios formed using the book-to-market factor persist after controlling for state variables shown in previous literature to predict future market returns. This result suggests that this factor is not a risk factor within the ICAPM. The value premium varies counter-cyclically, suggesting the contrarian investment strategy is riskier. Two other anomalies, asset growth and tangibility, are also examined, with evidence suggesting that they are explained by mispricing rather than risk.
The Usefulness of Financial Reporting in Spanish Local Governments

Since 1992, accounting for Spanish local governments has been undergoing substantial change. The application of a new regulation has introduced the double entry system, an approximation to the accounting terminology used in the private sector and the presentation of financial statements beyond the purely budgetary reporting. In this context, the paper attempts to examine the extent to which the new regulation has achieved the objectives of financial reporting, who the users of the information could be, what the usefulness of the financial statements is and what they are used for in local governments. The results prove that the financial reporting of local governments can be useful for potential users like audit institutions, financial institutions or creditors. However, there is a long way to go before we can say that the information is used to the maximum. This implies that further progress is necessary in the use of financial information in local governments, and fundamentally it is necessary to introduce techniques of financial analysis traditionally used in business entities.
Microwave enhanced advanced oxidation treatment of dairy manure

Abstract The microwave enhanced advanced oxidation process (MW-AOP) was used to treat dairy manure in a continuous-flow 915 MHz microwave wastewater treatment system. The treatment efficiency increased with an increase in temperature, as well as hydrogen peroxide dosage. The settling property was also improved in all treated sets, regardless of temperature applied. The system operated at temperatures >100 °C had a much higher soluble chemical oxygen demand than at temperatures <100 °C. The highest soluble carbonaceous compounds, orthophosphate and ammonia were obtained at 110 °C and 0.6%H2O2 per % of total solids content. The process should be operated at higher temperatures and higher hydrogen peroxide dosages for maximizing solids disintegration, nutrient release and energy efficiency. An energy fingerprint correlating the cumulative energy consumption and temperature rise was developed. The results demonstrated that the custom designed MW-AOP system is suitable for the effective treatment of dairy manure. The system can readily be scaled up and integrated into a dairy farm manure treatment and resource recovery system.
Family ownership, corporate governance, and top executive compensation

In this study we investigate how top management pay is determined in a family firm environment where even listed firms are effectively controlled by a single individual or a single family. Using data from Hong Kong, we find that executive directors' pay is reduced if the directors have substantial stockholdings. Moreover, pay is related to profits but not to stock returns. Our results are consistent with external blockholders and independent non-executive directors persuading firms to base top management compensation on a firm's profitability. Copyright © 2006 John Wiley & Sons, Ltd.
Women entrepreneurs in sub-Saharan Africa: An institutional theory analysis from a social marketing point of view

This paper takes an international marketing (IM) approach to the study of women entrepreneurs (WEs) in sub-Saharan Africa by examining factors in the environments in which WEs operate. The goal is to understand better how environmental barriers of many types impact the efforts of WEs. Using institutional theory-driven analysis, findings from a wide range of literature are integrated, with special attention to issues of the social legitimacy of women as entrepreneurs. Results of this study demonstrate that WEs in sub-Saharan Africa face a daunting array of challenges arising from the socio-cultural, economic, legal, political, and technological environments in which they live. Moreover, unfavourable conditions in local regulatory, normative, and cognitive systems place additional burdens on women who desire to become entrepreneurs or to expand an entrepreneurial business. In order to address these gender-specific problems, social marketing is recommended with the goals of (1) changing social beliefs, attitudes and behaviours that negatively affect Wes, and (2) improving conditions in institutional systems and market environments. Recommendations in the paper suggest how to bring about changes in attitudes towards women, work and their independent enterprise. In conclusion, directions for future scholarly research are identified.
The neural basis of maternal responsiveness to infants: an fMRI study

Using fMRI, we examined the neural correlates of maternal responsiveness. Ten healthy mothers viewed alternating blocks of video: (i) 40 s of their own infant; (ii) 20 s of a neutral video; (iii) 40 s of an unknown infant and (iv) 20 s of neutral video, repeated 4 times. Predominant BOLD signal change to the contrast of infants minus neutral stimulus occurred in bilateral visual processing regions BA minus neutral stimulus occurred in bilateral visual processing regions (BA 38), left amygdala and visual cortex (BA 19), and to the unknown infant minus own infant contrast in bilateral orbitofrontal cortex (BA 10,47) and medial prefrontal cortex (BA 8). These findings suggest that amygdala and temporal pole may be key sites in mediating a mother's response to her infant and reaffirms their importance in face emotion processing and social behaviour.
Empirical Evidence on the Impact of Book-Tax Differences on Divergence of Opinion Among Investors

ABSTRACT: It is well known that the objectives of financial accounting and tax accounting sometimes conflict, resulting in book-tax differences (BTDs). In this study we test for associations between measures of BTDs and measures of market participants’ uncertainty regarding the information conveyed in financial reports. The measures of market participant uncertainty are: (1) share turnover, (2) analyst forecast dispersion, and (3) stock return variance. We find positive associations between levels and variability of total BTDs and the three measures. After disaggregating BTDs into their permanent and temporary components, we find that both are positively associated with market uncertainty, although the permanent component of BTDs is generally more strongly and consistently associated with measures of uncertainty than is the temporary component. We interpret these results, in part, as indicative of the possible effect of uncertainty contained in BTDs, especially permanent BTDs, on the precision of the info.
The bridge between diversity and adaptivity: Answering McIntosh and Jeffrey

In their article entitled ‘Transferring theories of biological (co) evolution to socio-natural science: a reply to Rammel and Staudinger’, Brian McIntosh and Paul Jeffrey (2004) provide a critical focus on our attempt to use an evolutionary perspective in order to clarify the crucial role of diversity for sustainable development. This attempt was presented in the InternationalJournal of Sustainable Development and World Ecology Volume 9(4) in 2002. In particular, they argued that we did not convincingly demonstrate the utility and benefit of using an evolutionary perspective (based on biological theory) in providing better grounds for practical strategies and policies towards sustainable development. Moreover, besides claiming that (co) evolutionary ideas concerned with the study and management of socio-natural systems are still premature, they emphasised that we did not make clear what we mean when we say ‘evolutionary system’ or on which socio-economic entities evolution is actually operating. After their precise criticism on the use and application of our evolutionary perspective, McIntosh and Jeffrey paid special attention to the notion of stability, which we had stressed as core element of sustainable development. Herein, they argued for the need to clarify the definition of stability and pointed at possible meanings of stability which might fundamentally oppose the notion of sustainability in terms of blocking innovations and new adaptations. At the core of this criticism, McIntosh and Jeffrey questioned the relationship between stability and ‘pre-adapted’ diversity in ecological communities, as well as in socio-economic systems which was presented in our article as one of our key arguments. In particular, they rejected what they have assumed as being one of our main hypotheses, namely ‘that “only” in the absence of competition-driven selection are the “basic conditions” for sustainability likely to be found’ (ibd.). Referring to our focus on selection, diversity and sustainability, McIntosh and Jeffrey oppose our understanding that specialisation (particularly those forced by strong marketdriven economic competition) tends to reduce future opportunities as it decreases redundant diversity. Furthermore, they stress that even in evolutionary biology, specialisation is no longer seen as an evolutionary deadend and a risk-prone mode of existence. Subsequently, they posit that, due to strong economic competition, dramatic innovations might even occur and produce more variety and future opportunities than is removed by
Exploring TQM-Innovation relationship in continuing education: A system architecture and propositions

Total quality management (TQM) has been widely recognised as a management philosophy and a well-known approach for process improvement and innovation. Among extant studies there is still a lot of debate on the TQM-innovation relationship, most focus on manufacturing and services rather than educational institutes, such as universities. Today, universities are no longer seen as higher education institutes (HEIs), but as continuing education institute (CEIs). Having realised the importance of TQM-innovation, universities have started to adjust its courses to meet the needs of various markets and customers. Based on a thorough review of contemporary TQM literature and comparative examinations of TQM definitions, this paper assumes that all successful TQM factors in manufacturing, services and HEIs will also fit CEIs. To solve the problems resulting from the omitted effects of the environmental context, this paper aims to systematically explore arguments regarding the TQM-innovation relationship in different contexts (i.e. environment, strategy and culture (ESC)), and develop an architecture named ESC by modifying the model by Prajogo and Sohal's (2001). Finally, we propose seven propositions and conclude with a discussion and conclusion.
Correcting for biases when estimating production functions: an illusion of the laws of algebra?

This paper argues that the true cause of the endogeneity bias that allegedly appears when estimating production functions, and which the literature has tried to deal with since the 1940s, is simply the result of omitted-variable bias due to an incorrect approximation to an accounting identity. As a result we question recent attempts to solve the problem by developing new estimators.
Economics of Migration of Students from the Arab Region to OECD countries

Abstract: Economic studies on migration of skilled labor are mainly related to those trained in the country of origin but are increasingly including students trained abroad that return or not to their home countries. There are incentives and constraints that are provided by both origin and destination countries but the living conditions and the expected relative wages appear to be the most important sources of attraction of students to migrate. The restrictions of access to some schools such as those of medical sciences and architecture could be also driving further migration. The internationalization of the education system and the delocalization of universities in relation to globalization and trade in services are also encouraging these movements. These directions are likely to be expanded under the high levels of unemployment and the expected low local wages. This paper expands early models of skilled labor migration to account for students. Empirical investigations based on Arab countries are pursued. They show clearly the importance of this movement and its determination mainly by the differences in relative expected wages and the anticipated living conditions.
Estimating market demand for fresh yam characteristics using contingent valuation: implications for crop breeding and production choices

This study uses the Box-Cox (BC) transformations to examine nonlinearity in price modeling and compare results from several functional specifications in hedonic price analysis of yam in Togo. Based on a sample of 6,402 observations on price and produce characteristics generated through a market experiment, it is found that the BC quadratic asymmetric specification is the most suitable function. Several characteristics are valued more than others, and prices vary across species, time, and market sites. Some residual symptoms of pest and disease damages on yam tubers reduce their market values. Tuber weight exhibits a diminishing marginal value and price per kilogram decreases above an optimum size; therefore, producers do not derive additional reward from extra-large tubers. We conclude that, to effectively access and benefit from urban markets, producers should focus on small size, low weight, and conical shaped-tubers, which are easy to process and meet the esthetic qualities preferred by urban consumers. The implications for research on improved variety development to reduce poverty and for crop and resource management practices are drawn. Copyright (c) 2008 International Association of Agricultural Economists.
Coherence, Diversity, and the Evolution of Capitalisms—The Institutional Complementarity Hypothesis

What are the forces that make relatively and transitorily coherent the institutional configurations of capitalism? In response to the literature on the variety of capitalisms, this article investigates the relative explanatory power of various hypotheses: institutional complementarity, institutional hierarchy, coevolution, simple compatibility or isomorphism. Compatibility is too often confused with complementarity and it is frequently an ex-post recognition, rarely an ex ante design. Both hybridization and endometabolism are the driving forces in the transformation of institutional configurations. Uncertainty and the existence of some slack in the coupling of various institutions are key features that call for the mixing of various methodologies in order to detect complementarities. This framework is then used in order to show that three distinct institutional complementarities are at the origin of the more successful national economies since the 90s. Thus, institutional diversity is being recreated and the existence of complementarities plays a role in this process.
The role of accounting in the management control system: a case study of a family‐led firm

Purpose – This study seeks to add to the knowledge of the formation of social positions and power of individuals and their effects on the role of accounting in the development of management control systems (MCSs). Design/methodology/approach – Drawing on institutional and the mobilization of power frameworks, the case analysis explores the development of the role of accounting in the MCS.Findings – The results show that loose coupling between management control routines and formal accounting leaves room for individuals whose roles are important in the development of the MCS. These individuals with central social positions are the glue which enables loose coupling to persist through changes. The organizational culture of a family‐led firm may facilitate the individuals to mobilize power, so that they with central social positions mediate the encoding of institutions into rules and routines as well as the reproduction of the formal rules and informal routines and the relationship between them. Similarly, the.
The effectiveness of teams in organizations: a meta-analysis

The proposed meta-analysis of 61 independent samples aims to identify whether, and if so under what conditions, team working in organizations is related to organizational effectiveness. Team working had a significant though small positive relationship with both performance outcomes and staff attitudes. Our contingency analyses further showed that team working had a stronger relationship with performance outcomes if accompanied by complementary HR measures and in non-health-care settings. Finally, we found that team working is more strongly related to attitudinal outcomes in Sociotechnical Systems and health-care settings.
Differences and Similarities in Perceptions of Hotel Experience: The Role of National Cultures

ABSTRACT This study focuses on demonstrating the differences and similarities between and among Western and Asian customers in terms of travelers’ evaluation of satisfaction, perceived value, and attribute quality in a Hong Kong hotel setting. It has been noted that national culture has a substantial impact on travelers’ expectations and perceptions. The results show that satisfaction, perceived value, and hotel attribute evaluations are significantly higher for Western than Asian travelers. We also found considerable similarities between Australian, Canadian, and British travelers and also between Singaporean and Chinese travelers. In addition, American travelers’ ratings are closest to the average of the total sample compared with travelers from other countries, while Japanese travelers demonstrate the highest expectations and needs among the target nations.
Activity-based costing approach in the measurement of cost of quality in SMEs: a case study

Since the 1950s, a considerable amount of attention has been given on the cost of quality (CoQ) in theory and in practice. Overall, it is argued that a precise measurement of the CoQ requires a well-established accounting system that provides accurate cost information. However, in the literature, it is generally considered that traditional cost accounting methods do not provide accurate cost data for the measurement of quality costs. Therefore, the aim of this study is to explore the role of activity-based costing (ABC) in supporting the measurement of CoQ in small and medium-sized enterprises in order to discuss the results of implementation, its benefits and drawbacks. Overall, it was found that the use of ABC in the CoQ measurement provides the organisation with the means to determine both value-added and non-value-added quality-related activites and to detect improvement opportunities in the production process.