Miracle-dz/UniFAR-FTUs huggingface dataset:
Economic Reform and the Process of Global Integration

WHEN T H E BROOKINGS Panel on Economic Activity began in 1970, the world economy roughly accorded with the idea of three distinct economic systems: a capitalist first world, a socialist second world, and a developing third world which aimed for a middle way between the first two. The third world was characterized not only by its low levels of per capita GDP, but also by a distinctive economic system that assigned the state sector the predominant role in industrialization, although not the monopoly on industrial ownership as in the socialist economies. The years between 1970 and 1995, and especially the last decade, have witnessed the most remarkable institutional harmonization and economic integration among nations in world history. While economic integration was increasing throughout the 1970s and 1980s, the extent of integration has come sharply into focus only since the collapse of communism in 1989. In 1995 one dominant global economic system is emerging. The common set of institutions is exemplified by the new World Trade Organization (WTO), which was established by agreement of more than 120 economies, with almost all the rest eager to join as rapidly as possible. Part of the new trade agreement involves a codification of basic principles governing trade in goods and services. Similarly, the International Monetary Fund (IMF) now boasts nearly universal membership, with member countries pledged to basic principles of currency convertibility. Most programs of economic reform now underway in the developing world and in the post-communist world have as their strategic aim the
Combining player statistics to predict outcomes of tennis matches

With the growth in sports betting, it is possible to bet, both before and during a match, on a range of outcomes in tennis. This paper shows how the standard statistics published by the ATP can be combined to predict the serving statistics to be obtained when two given players meet. These statistics are then used in a spreadsheet model to predict further match outcomes, such as the length of the match and chance of either player winning. These calculations can be updated as the match progresses. The method is demonstrated by focusing on a very long men’s singles match between Roddick and El Aynaoui played at the 2003 Australian Open.
Equilibrium Asset Prices and No-Arbitrage with Portfolio Constraints

We examine intertemporal asset pricing when short sales are constrained in proportion to the value of an investor's portfolio. All assets' prices exceed every investor's marginal utility of consumption-based valuation of the associated dividends if every investor finds himself constrained in some asset in some state; we exhibit such an equilibrium. An asset's price decomposes into three (investor-specific) components: the consumption-value of its dividends, a speculative-value premium, and a collateral-value premium. The validity of the no-arbitrage pricing approach is shown to depend critically on the difference between real securities and their synthetic counterparts. Cet article examine l'evaluation intertemporelle des titres financiers lorsque les ventes a decouvert sont limitees en proportion a la valeur du portefeuille de l'investisseur. Le prix de tout actif depasse, pour tout investisseur, la valorisation de ses dividendes basee sur l'utilite marginale de consommation individuelle, lorsque chaque investisseur se trouve contraint dasn un actif quelconque dans un etat quelconque; nous demontrons l'existence d'un tel equilibre. Le prix d'un actif a trois composantes : la valeur de consommation de ses dividendes, une prime de valeur speculative, et une prime de valeu de collateral. La validite de l'approche de validation fondee sur l'absence d'arbitrage depend de maniere critique de la difference entre un actif reel et sa contrepartie synthetique.
Taxes and Corporate Finance

This paper reviews tax research related to domestic and multinational capital structure, payout policy, compensation policy, risk management, and organizational form. For each topic, the theoretical arguments explaining how taxes can affect corporate decision-making and firm value are reviewed, followed by a summary of the related empirical evidence and a discussion of unresolved issues. Tax research generally supports the hypothesis that high-tax rate firms pursue policies that provide tax benefits. Many issues remain unresolved, however, including understanding whether tax effects are of first-order importance, why firms do not pursue tax benefits more aggressively, and whether corporate actions are affected by investor-level taxes.
Adrenocorticotrophic action of long-acting tetracosactrin compared with corticotrophin-gel

The indications for placentography were a suspicion of placenta praevia in 58 patients who presented with antepartum haemorrhage (52) or a persistent unstable lie at 37 weeks (6) (see Table), and the need to define the placenta before amniocentesis in four. The usual gestation period at which the test was performed was 32-33 weeks, but satisfactory results were obtained as early as 30 weeks. In four patients placenta praevia diagnosed on scanning was not confirmed clinically. These false-positive results were due mainly to overcautious assessment of the scans early in the series, and with experience it has been possible to increase the accuracy of prediction. Of 42 patients with antepartum haemorrhage 32 were allowed home for intervals of two to six weeks after placentography had indicated that the placenta was in the upper uterine segment; no foetal loss resulted.
Equity Risk Premium

Abstract The equity risk premium (ERP) is an essential building block of the market value of risk. In theory, the collective action of all investors results in an equilibrium expectation for the return on the market portfolio excess of the risk-free return, the ERP. The ability of the valuation actuary to choose a sensible value for the ERP, whether as a required input to capital asset pricing model valuation, or any of its descendants, is as important as choosing risk-free rates and risk relatives (betas) to the ERP for the asset at hand. The historical realized ERP for the stock market appears to be at odds with pricing theory parameters for risk aversion. Since 1985, there has been a constant stream of research, each of which reviews theories of estimating market returns, examines historical data periods, or both. Those ERP value estimates vary widely from about −1% to about 9%, based on a geometric or arithmetic averaging, short or long horizons, short- or long-run expectations, unconditional or conditional distributions, domestic or international data, data periods, and real or nominal returns. This paper examines the principal strains of the recent research on the ERP and catalogues the empirical values of the ERP implied by that research. In addition, the paper supplies several time series analyses of the standard Ibbotson Associates 1926–2002 ERP data using short Treasuries for the risk-free rate. Recommendations for ERP values to use in common actuarial valuation problems also are offered.
Testing the Significance of Calendar Effects

This paper studies tests of calendar effects in equity returns. It is necessary to control for all possible calendar effects to avoid spurious results. The authors contribute to the calendar effects literature and its significance with a test for calendar-specific anomalies that conditions on the nuisance of possible calendar effects. Thus, their approach to test for calendar effects produces robust data-mining results. Unfortunately, attempts to control for a large number of possible calendar effects have the downside of diminishing the power of the test, making it more difficult to detect actual anomalies. The authors show that our test achieves good power properties because it exploits the correlation structure of (excess) returns specific to the calendar effect being studied. We implement the test with bootstrap methods and apply it to stock indices from Denmark, France, Germany, Hong Kong, Italy, Japan, Norway, Sweden, the United Kingdom, and the United States. Bootstrap p-values reveal that calendar effects are significant for returns in most of these equity markets, but end-of-the-year effects are predominant. It also appears that, beginning in the late 1980s, calendar effects have diminished except in small-cap stock indices.
Beliefs of Prospective Teachers to Eliminate Social Problems of Pakistani Society

The paper contributes in exploring the beliefs of prospective teachers regarding nature, causes and solution of prevailing social problems of Pakistani society. Qualitative research method was used administering open ended questionnaire to 387 post graduate teacher education learners enrolled in Allama Iqbal Open University Islamabad, Pakistan. Respondents were asked to write paragraphs about reasons and solution of different social problems including corruption, unemployment, gender discrimination, domestic and sectarian violence, women harassment, injustice and intolerance. Content analysis of the manuscripts reveals that future teachers are well aware of the existing social problems of the country and have suggestions to eliminate these problems. The student teachers propose expansion in the access of education; legislation and its strict implications to reduce different social crimes; social justice as well as thoughtful understanding of Islamic preaching to eliminate most of the current social problems from Pakistani society
Predictors of early mortality after transjugular intrahepatic portosystemic shunt creation for the treatment of refractory ascites.

PURPOSE Currently there is no consensus regarding a target portosystemic gradient (PSG) after transjugular intrahepatic portosystemic shunt (TIPS) creation for the treatment of refractory ascites. The goal of this study was to examine whether the PSG after TIPS creation is predictive of subsequent mortality risk. MATERIALS AND METHODS Retrospective review of 99 patients who underwent successful TIPS creation for refractory ascites between January 1997 and December 2004 was performed. Follow-up consisted of clinic and emergency department visits, hospital admissions, and radiology studies (mean, 7 months). Comparison of baseline patient characteristics was performed between survivors and patients who died. Survival rates were calculated with use of the Kaplan-Meier method and compared with the log-rank test based on Model for End-stage Liver Disease (MELD) scores and PSGs before and after TIPS creation. Univariate and multivariate analysis of potential predictors of mortality was performed with Cox proportional-hazards analysis. RESULTS Sixteen patients died during follow-up (mean, 1.9 months after TIPS creation). The patients who died had significantly higher MELD scores before TIPS creation than did survivors (P = .04) and significantly lower PSGs before and after TIPS creation (P = .02 and P = .03, respectively). Survival rates were significantly lower for patients with higher MELD scores (P = .01) and lower PSGs before TIPS creation (P = .01) and after TIPS creation (P = .01). Multivariate analysis demonstrated that Child class C cirrhosis, MELD score greater than 25, and PSG less than 8 mm Hg after TIPS creation were the most significant predictors of mortality (increased likelihood by factors of 4, 5, and 3, respectively). CONCLUSION Excessive reduction of the PSG along with severe liver dysfunction is associated with an increased risk of mortality after TIPS creation in patients presenting with refractory ascites.
A Study on Appeal System according to Disciplinary Punishment of Police Officers

Police officers interact with the citizen a lot, they have high possibility of corruption, graft, and conflict with the citizen. The Police have governmental authority and regulation right, which requires police officers to have high ethical consciousness. because of this, disciplinary action upon them has higher standard. According to the actual statistical data between 2008 and 2012, showed that only 801 police officers were disciplined in 2008. But in 2009, average 1,100 police officers were disciplined. To solve the problem of unreasonable discipline, government is enforcing an Appeal System. Appeal system is a special system which allows government employees to make a formal objection against unfavorable discipline. Through Appeal system, many police officers were saved from being disciplined. Discipline given to the police officers were decided to be invalid, or to be reducted. The data showed that approximately 25% of police officers were saved by this system. As a research was done about a correlation between disciplinary policy and entreaty, correlation between entreaty quotation and working department, to look in to the correlation between discipline and appeal system. The result showed that certain characteristic existed depending on the substance.
The functional cytotoxic T lymphocyte–associated Protein 4 49G‐to‐A genetic variant and risk of pancreatic cancer

Antitumor T lymphocytes play an essential part in immune surveillance of cancer cells. Cytotoxic T lymphocyte–associated Protein 4 (CTLA‐4) is a negative regulator of T cell activation and proliferation and therefore influences immune surveillance of carcinogenesis of pancreas. Thus, this study examined the association between functional CTLA‐4 49G‐to‐A (49G>A) single‐nucleotide polymorphism and pancreatic cancer risk.
Corporate Dividends and Seasoned Equity Issues: An Empirical Investigation

This paper investigates whether managers rely on dividends to obtain a higher price in a stock offering and whether the stock price reaction to dividend and offering announcements justifies such a coordination. The evidence does not support either conjecture. Issuing firms are not more likely to pay or increase dividends than nonissuing firms. Moreover, there is little evidence that firms time stock-offering announcements right after dividend declarations to benefit from the attendant information disclosure. The analysis of dividend and stock-offering announcement effects suggests few if any benefits from linking dividend and stock-offering announcements. Copyright 1992 by American Finance Association.
Fragments of HRM in hospitality? Evidence from the 1998 workplace employee relations survey.

Using management and employee data from the 1998 workplace employee relations survey, this article attempts to trace “fragments of HRM” within the hospitality industry (HI) on a comparative basis with all industries and services (AIS) in Great Britain. Four themes are explored: how the management of HRM is organised and practised, “individualism” and “collectivism”, participation and involvement, and other “sophisticated” HR practices. The impact of HRM on employees is assessed. HRM in the HI is found to be very different, thus providing an extreme example of the “retaining control/cost control” approach to management, and a graphic illustration of very “hard” HRM in practice. While HI employees are much more content with their lot than their counterparts in AIS who are subject to rather more “favourable” HRM policies and practices, other indicators imply that there is also dissatisfaction. Qualitative research is necessary to understand whether employees really do enjoy being “kicked hard”. Management might reap greater benefits by adopting more developmental, “soft” HRM practices.
Migrantsâ€™ Remittances and Investments in Childrenâ€™s Human Capital: The Role of Asymmetric Preferences in Mexico

Migrants’ Remittances and Investments in Children’s Human Capital: The Role of Asymmetric Preferences in Mexico Lauren Malone ∗ November 2007 JOB MARKET PAPER Abstract This paper evaluates the ability of migrants’ remittances to spur development via investments in children’s human capital. Findings reveal that this depends largely on the gender of the de facto household head, as remittances sent by migrant fathers to mothers are those most likely to be invested in education. Assuming that mothers and fathers have asymmetric preferences, I present a two-stage model of migrants remittances. In stage one, migrants decide how much to remit, and in stage two this remittance is received and allocated by the de facto household head. I show that remittances sent by migrant fathers are spent diﬀerently from other income sources and have the potential to beneﬁt children via two eﬀects. The ﬁrst is the change in allocative power of the mother and the second is her revealed preference for investments in children’s education. The model is then tested using data provided by the Mexican Migration Project. Empirical results here conﬁrm that remittances have the potential to eﬀect household level development, as they are received by households that are neither extremely poor nor extremely rich, and that remittance allocation decisions diﬀer for mothers and fathers. Mothers are in fact more likely to report that migrant income was spent on education. Finally, I analyze the eﬀect of parental absences on children’s education, using an innovative measure for educational attainment. Fathers’ absences due to migration during all age ranges of the child’s life have positive eﬀects on educational attainment, while variables denoting the number of months the mother was absent are insigniﬁcant. JEL Codes: D13, F22, F24, O15. Keywords: Remittances, Mexico, Human Capital, Intrahousehold Allocation, Asymmetric Preferences ∗ University of California, Santa Cruz. Email: laur@ucsc.edu. I would like to thank my advisor, Lori Kletzer, for her time, advice, and continuous support. I also thank Rob Fairlie, Ricard Gil, Thorsten Janus, David Kaun, Jake Kendall, Ken Kletzer, Ryan Oprea, Jan Piplack, and Jon Robinson for helpful comments and suggestions. Funding was provided by the Graduate Division, UC MexUS, and the UC Labor and Employment Research Fund. All remaining errors are mine.
The Definition of Part-Time Employment: A Switching Regression Model with Unknown Sample Selection

Rejecting the standard less-than-thirty-five-hours-per-week categorization of part-time workers, this paper offers an empirically-justified definition of the part-time employed. The definition is based on the distinction through wage payments that employers make between a high-hours (full-time) and a low-hours (part-time) group of workers. A switching regression model of wage equations with deterministic, but unknown, sample selection is estimated resulting in a significant split between high-hours and low-hours workers that is higher than the standard definition. Wage differentials are calculated and decomposed, and estimates from the structural choice model are presented. Copyright 1991 by Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association.
IgG4+ to IgG+ Plasma Cells Ratio of Ampulla Can Help Differentiate Autoimmune Pancreatitis From Other “Mass Forming” Pancreatic Lesions

Autoimmune pancreatitis (AIP) shows a unique spectrum of histologic features and commonly presents with an abundant IgG4-positive (IgG4+) plasma cell infiltration. However, differentiating AIP from other mass lesions, particularly pancreatic cancer [invasive ductal carcinoma (IDC)] can be clinically challenging. In this study, we evaluated the validity of IgG4 and IgG immunohistochemistry of ampullary and periampullary tissue for the diagnosis of AIP. Our study group consisted of 14 resected AIP cases with appropriate ampullary sections. Superficial ampullary tissue and “shouldering” duodenal mucosa were evaluated for several histologic variables. Immunohistochemistry for IgG4 and IgG was performed. The number of IgG4 and IgG-positive plasma cells was counted and an IgG4+ to IgG+ plasma cells ratio (IgG4/IgG ratio) was evaluated. A control cohort was composed of IDC (n=30) and chronic pancreatitis (CP) (n=29). Although an overlap was present between the groups, the overall inflammation and number of plasma cells in and around the ampulla was significantly increased in AIP compared with CP and IDC. Furthermore, although there was some overlap in the crude number of IgG4+ plasma cells of the ampullary and duodenal tissue between AIP, IDC, and CP, an IgG4/IgG ratio, especially of the ampulla, seems diagnostically useful in differentiating AIP from other “mass forming” lesions. When a cut-off of 0.10 was applied, the diagnostic sensitivity and specificity of the ampullary IgG4/IgG ratio was 86% and 95%, respectively. In conclusion, evaluation of ampullary histology and IgG4/IgG ratio might be proven beneficial in discriminating AIP from other mass forming pancreatic lesions.
Location Advantages and Repeat Investment in Australia: A Two-State Comparison

Kalfadellis P. Location advantages and repeat investment in Australia: a two-state comparison, Regional Studies. Repeat investment is increasingly important for governments seeking to retain and embed existing foreign subsidiaries within their domains. Identifying the location advantages that predict the repeat investment behaviour of foreign subsidiaries although important has not been studied in any systematic manner. Using a sample of 356 foreign subsidiaries operating in Australia, a multiple regression model is used to test the relationship between the location advantages and repeat investment across both national (Australia) and regional (New South Wales and Victoria) spatial domains. The different location advantages found to be predictive of repeat investment suggest that reliance in the literature on location being synonymous with the national domain is inadequate. The findings highlight the need for domain-specific policy responses if governments are to encourage repeat investment at the regional level.
Polygynists and Their Wives in Sub-Saharan Africa: An Analysis of Five Demographic and Health Surveys

Differential polygyny in Ghana, Kenya, Senegal, Uganda, and Zambia is investigated using individual-level Demographic and Health Surveys data. As well as contrasting polygynists' first wives with women in monogamous unions, the analysis distinguishes higher-order wives from first wives. This permits study of the determinants of the prevalence and intensity of polygyny respectively. Polygyny and other aspects of marriage interlock in very similar ways in all five countries. Individuals' experience of polygyny tends to reflect their luck in the marriage market rather than their socio-economic characteristics. While polygyny is less prevalent in urban areas, other socio-economic factors are important only in Kenya and Zambia, the two countries where less than 25 per cent of married women are in polygynous unions. The prevalence and intensity of polygyny are negatively associated. Thus, any drop in the prevalence of polygyny in Africa may be accompanied by a rise in the number of wives per polygynist.