Miracle-dz/UniFAR-FTUs huggingface dataset:
Customers’ Capital Market Information Quality and Suppliers’ Performance

We empirically examine the association between downstream firms’, i.e., customers’ capital market information quality, and the operating performance of upstream firms, i.e., suppliers. Customers’ capital market information quality is measured by the customers’ provision of earnings forecasts, the customers’ reported earnings quality, and the customers’ coverage by financial analysts and credit rating agencies. We hypothesize and find a positive association between customers’ capital market information quality and suppliers’ operating performance measured by the DuPont profitability ratios. The association is stronger for suppliers with higher sales volatility, no order backlogs, customers who are less dependent on their input, and shorter business relation with customers. Collectively, the results suggest that the quality of information provided by the customers to the capital market has a spillover effect in the input market, i.e., helps the suppliers improve their performance.
The transcriptional activator GaaR of Aspergillus niger is required for release and utilization of d‐galacturonic acid from pectin

We identified the d‐galacturonic acid (GA)‐responsive transcriptional activator GaaR of the saprotrophic fungus, Aspergillus niger, which was found to be essential for growth on GA and polygalacturonic acid (PGA). Growth of the ΔgaaR strain was reduced on complex pectins. Genome‐wide expression analysis showed that GaaR is required for the expression of genes necessary to release GA from PGA and more complex pectins, to transport GA into the cell, and to induce the GA catabolic pathway. Residual growth of ΔgaaR on complex pectins is likely due to the expression of pectinases acting on rhamnogalacturonan and subsequent metabolism of the monosaccharides other than GA.
Acquired Sleep-Related Hypermotor Epilepsy with Disrupted White Matter Tracts Assessed by Multishell Diffusion Magnetic Resonance Imaging

Sleep-related hypermotor epilepsy (SHE) (previously frontal lobe epilepsy) is a rare seizure disorder commonly misdiagnosed or unrecognized, causing negative patient sequelae. While usually reported in familial studies, it is more commonly acquired. Diagnosis is a challenge due to its low incidence in comparison with the more common sleep disorders or psychogenic etiologies in the differential diagnosis. Diagnosis is scaled on degree of certainty based on described or clinically documented semiology, with video EEG as a helpful, but not necessary, adjunct. Current treatment is similar to other focal epilepsies. We studied a 36-year-old active duty male soldier who presented with 2 years of predominantly sleep related, abrupt, short, and anamnestic hyperkinetic movements with unstructured vocalizations. Prior workup included non-contributory video electroencephalograph (EEG) and polysomnography as well as normal brain magnetic resonance imaging (MRI). Treatments for presumed psychiatric and parasomnia disturbances were not effective in establishing diagnosis or relief. Evaluation at our tertiary, multidisciplinary care institution recorded events consistent with the diagnosis of clinical SHE. He was enrolled in an advanced multishell diffusion-weighted imaging MRI research study to evaluate white matter tracts, given his history of mild, repetitive, non-penetrating traumatic brain injury, not otherwise requiring hospitalization. Multishell diffusion MRI tractography found changes not previously described in the right frontal lobe white matter tracts. These changes were consistent with neurological localization and serve as a potential nidus for this patient’s seizure disorder. Misdiagnosis of SHE can result in detrimental biopsychosocial sequelae of untreated epilepsy, unnecessary or harmful intervention, or the stigmata of a behavioral disorder. Further investigation into diagnosis and etiology of acquired SHE is needed. Assessment for white matter abnormalities can potentially provide information into pathogenesis of epilepsy disorders.
Agency and Internal Capital Market Inefficiency: Evidence from Banking Organizations

Using banking data, I provide evidence that agency problems are at the root of internal capital market inefficiency. I find that publicly traded bank holding companies (BHCs) are less efficient in their internal capital allocation than non-publicly traded BHCs. This suggests that the divergence of interests between the CEO and the shareholders is an important source of the internal capital misallocation. I also show that BHCs that have a tiered organizational structure are less efficient than non-tiered BHCs, but only within a sample of BHCs that are publicly traded. These findings imply that a greater degree of rent-seeking activity by the division manager contributes to the internal capital market inefficiency only if the top manager herself is an agent. This is consistent with theoretical models that explain internal capital misallocations through the multiple layers of agency within an organization.
Linking poverty, HIV/AIDS and climate change to human and ecosystem vulnerability in southern Africa: consequences for livelihoods and sustainable ecosystem management

People in southern Africa are facing escalating levels of risk, uncertainty and consequently vulnerability as a result of multiple interacting stressors, including HIV/AIDS, poverty, food insecurity, weak governance, climate change and land degradation, to name but a few. Vulnerability or livelihood insecurity emerges when poor people as individuals or social units have to face harmful threats or shocks with inadequate capacity to respond effectively. In such situations, people often have no choice but to turn to their immediate environment for support. Evidence suggests that rising levels of human vulnerability are driving increased dependency on biodiversity and ecosystem services, which in turn, and along with other threats, is rendering ecosystems more vulnerable. This paper explores the dynamic and complex linkages and feedbacks between human vulnerability and ecosystem vulnerability, drawing on data from the southern African region. Human vulnerability is conceptualized as a threat to ecosystem health, as driven by the interplay between a number of current and emerging factors. We focus on poverty, HIV/AIDS and more intense climate extremes as examples of stressors on livelihoods and direct and indirect drivers of ecosystem change. We discuss how some of the responses to increased vulnerability may pose threats to biodiversity conservation, ecosystem management and sustainable development, whilst considering potential solutions that rely on a thorough understanding of coupled social–ecological systems and the interplay between multiple stressors and responses at different scales.
Consolidation and Systemic Risk in the International Insurance Industry

This paper is the first to examine the effects of consolidation in the international insurance industry on the acquirers’ contribution to systemic risk. We analyze a sample of 394 international domestic and cross-border mergers and find a strong positive relation between consolidation in the insurance industry and moderate systemic risk in the insurance and banking sector. Furthermore, we find strong empirical evidence in support of hypotheses that firm size, non-traditional financing activities, and diversification across insurance lines all add to the destabilizing effect of insurance consolidation.
Empowering Human Services Organizations to Embrace Evidence-Informed Practice: International Best Practices

Human services organizations are increasingly using knowledge as a mechanism for implementing change. Knowledge emerging from many sources that may include academic publications, gray literature, and service user and practitioner wisdom contributes toward informing best practice. The question is how do we harness this knowledge to make practice more effective? This article synthesizes the lessons learned from eight international organizations that have made a commitment to knowledge mobilization as an important priority in their mission and operation. The article provides a conceptual model, tools, and resources to help human services organizations create strategies for building, enhancing, or sustaining their knowledge mobilization efforts. The article describes a flexible blueprint for human services organizations to leverage knowledge mobilization efforts at all levels of service delivery.
Human layout estimation using structured output learning

In this thesis, we investigate the problem of human layout estimation in unconstrained still images. This involves predicting the spatial configuration of body parts. We start our investigation with pictorial structure models and propose an efficient method of model fitting using skin regions. To detect the skin, we learn a colour model locally from the image by detecting the facial region. The resulting skin detections are also used for hand localisation. Our next contribution is a comprehensive dataset of 2D hand images. We collected this dataset from publicly available image sources, and annotated images with hand bounding boxes. The bounding boxes are not axis aligned, but are rather oriented with respect to the wrist. Our dataset is quite exhaustive as it includes images of different hand shapes and layout configurations. Using our dataset, we train a hand detector that is robust to background clutter and lighting variations. Our hand detector is implemented as a two-stage system. The first stage involves proposing hand hypotheses using complementary image features, which are then evaluated by the second stage classifier. This improves both precision and recall and results in a state-of-the-art hand detection method. In addition we develop a new method of non-maximum suppression based on super-pixels. We also contribute an efficient training algorithm for structured output ranking. In our algorithm, we reduce the time complexity of an expensive training component from quadratic to linear. This algorithm has a broad applicability and we use it for solving human layout estimation and taxonomic multiclass classification problems. For human layout, we use different body part detectors to propose part candidates. These candidates are then combined and scored using our ranking algorithm. By applying this bottom-up approach, we achieve accurate human layout estimation despite variations in viewpoint and layout configuration. In the multiclass classification problem, we define the misclassification error using a class taxonomy. The problem then reduces to a structured output ranking problem and we use our ranking method to optimise it. This allows inclusion of semantic knowledge about the classes and results in a more meaningful classification system. Lastly, we substantiate our ranking algorithm with theoretical proofs and derive the generalisation bounds for it. These bounds prove that the training error reduces to the lowest possible error asymptotically. This thesis is submitted to the Department of Engineering Science, University of Oxford, in fulfilment of the requirements for the degree of Doctor of Philosophy. This thesis is entirely my own work, and except where otherwise stated, describes my own research. Arpit Mittal, Brasenose College Copyright c ©2012 Arpit Mittal All rights reserved.
Anomalies in US equity markets: a re-examination of the January effect

This study investigates the January effect in US equity markets using three market indexes from 1964–1998: Dow Jones Composite, NYSE Composite and the SP500. Chow tests for structural stability indicate that the estimated parameters in an equation testing for monthly seasonal effects in the stock market are not stable over time. In the 1964–1987 sample period it is found that January returns are positive and significant in all three stock market indexes. After 1987, January returns are positive but not statistically different from zero. The results therefore provide no statistical support for the January effect in US equity markets in the post-1987 market crash period.
The Auriga Project: the properties and formation mechanisms of disc galaxies across cosmic time

We introduce a suite of 30 cosmological magneto-hydrodynamical zoom simulations of the formation of galaxies in isolated Milky Way mass dark haloes. These were carried out with the moving mesh code arepo, together with a comprehensive model for galaxy formation physics, including active galactic nuclei (AGN) feedback and magnetic fields, which produces realistic galaxy populations in large cosmological simulations. We demonstrate that our simulations reproduce a wide range of present-day observables, in particular, two-component disc-dominated galaxies with appropriate stellar masses, sizes, rotation curves, star formation rates and metallicities. We investigate the driving mechanisms that set present-day disc sizes/scalelengths, and find that they are related to the angular momentum of halo material. We show that the largest discs are produced by quiescent mergers that inspiral into the galaxy and deposit high-angular momentum material into the pre-existing disc, simultaneously increasing the spin of dark matter and gas in the halo. More violent mergers and strong AGN feedback play roles in limiting disc size by destroying pre-existing discs and by suppressing gas accretion on to the outer disc, respectively. The most important factor that leads to compact discs, however, is simply a low angular momentum for the halo. In these cases, AGN feedback plays an important role in limiting central star formation and the formation of a massive bulge.
Cross-Market Network Effect with Asymmetric Customer Loyalty: Implications for Competitive Advantage

A cross-market network effect exists in many industries (e.g., newspaper publishing, media, software) in which a seller sells both a primary and a secondary product (e.g., a newspaper publisher sells newspapers to readers and advertising space to advertisers), and the value of the secondary product depends on the size of the user base of the primary product. This paper examines the competitive implications of asymmetric customer loyalty in such markets. In traditional markets, an advantage in customer loyalty generates a profit advantage. We show here, however, that in the presence of a cross-market network effect, a midlevel of loyalty advantage in the primary product market can lead to an overall profit disadvantage. This surprising result is derived from the interdependence of the two markets, whereby a profit in one market may be gained at the cost of the other, and by the positive relationship between a larger loyalty segment and a higher opportunity cost of price competition in the product of the primary market. Extending our model to a two-period entry game also shows that under certain conditions, the entrant with disadvantage in customer loyalty can outperform the incumbent in profit and market share. This result suggests that asymmetry in customer loyalty can be a source of “first-mover” advantage or disadvantage.
Making Franchising Work: A Framework Based on a Systematic Review

There is a large and fragmented literature that examines the nature of franchising. This paper aims to collect all the empirical evidence on the factors that make franchising work and to integrate this evidence in a framework. A narrative synthesis was performed of 126 peer‐reviewed empirical journal articles. This review shows how the outcomes of franchising are determined by five major clusters of factors: ownership structure, business format design, contract design, behavior of the franchisor and the franchisee and their interaction, and the age and size of the system and its units. It identifies what franchisors and franchisees need to do to be successful and which evidence gaps and conflicting results remain. To yield better outcomes for both the franchisor and the franchisee, they should work on a recognizable brand name and a good working relationship; in addition, they should have suitable skills and attitudes as well as contractual exclusive territories. For further improvement of franchisee outcomes, high‐quality franchisor support, decentralized decision‐making, selection tools and fair contracts are essential. The effects of a high franchise proportion, active ownership, knowledge exchange and standardized operating instructions are contingent on other structural and contextual factors in the system. Conflicts and tying should be prevented. Hardly any research has been undertaken into which franchise designs are valued by customers. The authors have launched a research agenda for further research, from various theoretical perspectives, into the interactions between system elements, actors and contexts.
TENDÊNCIAS PARA O AUTO-ATENDIMENTO BANCÁRIO BRASILEIRO: UM ENFOQUE ESTRATÉGICO BASEADO NA TEORIA DAS FILAS

RESUMO Este trabalho integra os conceitos de Planejamento Estratégico e da Teoria das Filas para dar suporte à formulação e avaliação de estratégias viáveis para a gestão de serviços bancários oferecidos por caixas automáticos (ATM). Além disso, obteve-se um referencial prático valioso para a compreensão de como surge uma estratégia emergente. Este estudo utilizou informações sobre o comportamento dos usuários de caixas automáticos de um dos maiores bancos de varejo do Brasil e os atualizou de acordo com as mudanças da regulamentação bancária ocorrida em 2001 em função do racionamento de energia elétrica. De uma forma geral, foram identificadas duas linhas estratégicas opostas, representadas pelos bancos Bradesco e Itaú, respectivamente, primeiro e segundo maior banco privado brasileiro, sobre o tratamento oferecido aos seus clientes nas salas de auto-atendimento.
Criticality of the Rare Earth Elements

Recent constraints on supplies of the rare earth elements (REEs) have led to concerns about their long‐term availability as well as the consequences that shortages would pose for modern technology. To assess this situation, we apply a comprehensive “criticality” methodology to the REE: lanthanum (La); cerium (Ce); praseodymium (Pr); neodymium (Nd); samarium (Sm); europium (Eu); gadolinium (Gd); terbium (Tb); dysprosium (Dy); holmium (Ho); erbium (Er); thulium (Tm); ytterbium (Yb); lutetium (Lu); and yttrium (Y). Assessments are made on national (U.S. and China) and global levels for the year 2008. Evaluations of each indicator are presented and the results plotted in “criticality space” on a 0 to 100 scale. Over the medium term (5 to 10 years), supply risk (SR) for all REEs is moderate with minimal variation (62.8 to 65.1). Over the long term (10 to 100 years), SR is low (42.1 to 49.2). Environmental implications scores, reflecting the economic allocation of environmental burdens, range from 4.2 for La to 34.4 for Lu. Eu, Er, and Dy have the highest vulnerability to supply restriction (VSR) at the global level (50.6, 49.2, and 47.4, respectively), whereas Sm has the lowest (15.1). This is mainly a reflection of their substitution potential. Similarly, at the national level for the United States and China, Eu and Sm have the highest and lowest VSR scores, respectively, although there are notable differences in scores among the REEs and between countries. Although China's export restrictions render REE supplies inadequate to meet demand at present, our analysis indicates a lower criticality for REEs over the longer term than for a number of other industrially used metals.
Strategies to support equality bargaining inside unions: Representational democracy and representational justice

The article examines two internal union strategies for improving equality bargaining. The first, representational democracy (RD), highlights the demographic profile of women’s participation in collective bargaining (CB). The discussion presents the existing, albeit imperfect, data on women’s participation. It supports the continuing importance of the gender profiles of negotiators, but also considers the limits of RD via an exploration of essentialism, critical mass and gender composition. It concludes that RD is a limited proxy for voice, and, given the individualism inherent in its claims, an imperfect vehicle for collective agency. The paper then develops the concept of representational justice (RJ), which speaks to collective mechanisms which ensure that women’s interests are represented; in effect, a move from individual equality champions to vehicles for championing equality. As one means to such an end, the article argues for building formal and constitutionalized links between CB and union equality structures. Highlighting internal union strategies to support equality bargaining complements the widespread focus on the substantive issues on the bargaining agenda and takes the discussion of equality bargaining in new directions. Certainly, this approach underscores the importance of unions linking struggles around diversity, equality and representation inside unions to the CB process and agenda.
A Factor-Augmented Model of Markup on Mortgage Loans in Poland

The paper describes the results of estimation of a factor-augmented vector autoregressive model that relates the markup on mortgage loans in national currency, granted to households by monetary financial institutions, and 1-month inter-bank rate that represents the cost of funds for financial institutions. The factors by which the model is augmented, summarize information that can be used by banks to forecast interest rates and evaluate macroeconomic risks. The estimation results indicate that there is a significant relation between the markup and the changes in 1-month WIBOR. This relation can be interpreted as evidence of incomplete transmission of the monetary policy shocks to mortgage rates set by monetary financial institutions. The policy shocks are partially absorbed by changes in the markup.
The Shape of the Risk Premium

We examine the relationship between the risk premium on the Center for Research on Security Prices (CRSP) value-weighted index total return and its conditional variance. We propose a new semiparametric model in which the conditional variance process is parametric and the conditional mean is an arbitrary function of the conditional variance. For monthly CRSP value-weighted excess returns, the relationship between the two moments that we uncover is nonlinear and nonmonotonic.
Soluble aggregates of the amyloid‐β protein activate endothelial monolayers for adhesion and subsequent transmigration of monocyte cells

Increasing evidence suggests that the deposition of amyloid plaques, composed primarily of the amyloid‐β protein (Aβ), within the cerebrovasculature is a frequent occurrence in Alzheimer’s disease and may play a significant role in disease progression. Accordingly, the pathogenic mechanisms by which Aβ can alter vascular function may have therapeutic implications. Despite observations that Aβ elicits a number of physiological responses in endothelial cells, ranging from alteration of protein expression to cell death, the Aβ species accountable for these responses remains unexplored. In the current study, we show that isolated soluble Aβ aggregation intermediates activate human brain microvascular endothelial cells for both adhesion and subsequent transmigration of monocyte cells in the absence of endothelial cell death and monolayer disruption. In contrast, unaggregated Aβ monomer and mature Aβ fibril fail to induce any change in endothelial adhesion or transmigration. Correlations between average Aβ aggregate size and observed increases in adhesion illustrate that smaller soluble aggregates are more potent activators of endothelium. These results support previous studies demonstrating heightened neuronal activity of soluble Aβ aggregates, including Aβ‐derived diffusible ligands, oligomers, and protofibrils, and further show that soluble aggregates also selectively exhibit activity in a vascular cell model.