Miracle-dz/UniFAR-FTUs huggingface dataset:
Intersectoral and International R&D Knowledge Spillovers and Total Factor Productivity

Disaggregate panel data estimates are presented of equations that relate a set of OECD countries' sectoral total factor productivity to domestic and to foreign R&D capital. The estimates indicate that there are both important international and national R&D knowledge spillovers and that these spillovers are intersectoral and intrasectoral in nature. They show that the influence of domestic R&D is stronger in the large economies and that this is caused by more important domestic intersectoral R&D spillovers. There is also evidence of a greater influence of domestic and of foreign R&D in research intensive industries and of an interaction between the domestic economy scale and the research intensity effects. Copyright 2002 by Scottish Economic Society.
Intellectual property rights and the margins of international trade

Economic theory indicates some ambiguity in the relationship between intellectual property rights (IPRs) and trade. Here, we extend the empirical literature that attempts to resolve this ambiguity by examining how IPRs affect trade along both the intensive – increasing volume of existing goods – and extensive – increasing variety of goods – margins oftrade. Our main results suggest that IPRs have a positive impact on imports, which is driven by a positive effect on the extensive margin and a negative impact on the intensive margin. Splitting countries according to their level of development, market size and imitative ability, we find that the positive impact of IPRs is strongest in less-developed countries, as well as larger countries and those with a higher degree of imitative ability.
Effects of Industry Clusters on Company Competitiveness: Special Economic Zones in Taiwan

According to the Global Competitiveness Report released by the WEF in 2007–2009, Taiwan has been ranked No. 1 in the assessment of industry cluster developments for three consecutive years. It is one of the success stories in the worldwide development of innovation and industry clusters furthermore the creation and driven Taiwan economics development of benchmark is special economic zones. This paper examines the special economic zones and performs an empirical study on industry clusters and company competitiveness. A questionnaire survey is conducted and the statistics are regressed and analyzed. The purpose is to explore the strategic resources of industry clusters in special economic zones, the relationship with company clusters and the effects on company performance. The study finds that the strategic resources of clusters in special economic zones are indeed a key factor that influences the relationship with industry clusters and also enhance enterprise competitive advantage. All the hypotheses are supported. The study also proves that the resources and relationships associated with industry clusters have impacts on company performance and can enhance company competitiveness.
Did Conservatism in Financial Reporting Increase after the Sarbanes-Oxley Act? Initial Evidence

In this paper, we investigate the change in managerial discretion over financial reporting following the Sarbanes‐Oxley Act (hereafter SOX). We document an increase in conservatism in financial reporting following SOX and the resulting requirement by the SEC that financial statements be certified by firms' CEOs and CFOs. First, we find that firms report lower discretionary accruals after SOX than in the period preceding SOX. Second, based on the Basu (1997) measure of conservatism, we find that firms incorporate losses more quickly than gains when they report income in the post‐SOX period. These results are obtained with alternative estimation and measurement approaches and after controlling for potentially confounding variables. This empirical evidence suggests that SOX and the resultant SEC certification requirement may have altered management's discretionary reporting behavior to make it more conservative.
Why Do Security Prices Change? A Transaction-Level Analysis of Nyse Stocks

This article develops and tests a structural model of intraday price formation that embodies public information shocks and microstructure effects. We use the model to analyze intraday patterns in bid-ask spreads, price volatility, transaction costs, and return and quote autocorrelations, and to construct metrics for price discovery and effective trading costs. Information asymmetry and uncertainty over fundamentals decrease over the day, although transaction costs increase. The results help explain the U-shaped pattern in intraday bid-ask spreads and volatility, and are also consistent with the intraday decline in the variance of ask price changes. Article published by Oxford University Press on behalf of the Society for Financial Studies in its journal, The Review of Financial Studies.
Revenue Sharing and Owner Profits in Professional Team Sports

In the sports economics literature, little attention has been paid to the impact of revenue sharing on club owners' profits. In particular, it is unclear how the profits of the large-budget clubs are affected. In this article, the relationship between one specific revenue-sharing arrangement and owner profits is investigated for clubs in a profit-maximization league using two different models. In a Walrasian equilibrium model, revenue sharing will lower profits, whatever the value of the share parameter, if the profits of a large-budget club are higher than the average club budget in the league. In a noncooperative Nash equilibrium model, the impact turns out to be theoretically indeterminate.
Knowledge of asthma management by general practitioners in Karachi, Pakistan: comparison with international guidelines.

BACKGROUND Suboptimal management of asthma by general practitioners (GPs) can lead to poor health outcomes AIMS To assess the management of common asthma presentations by GPs using the Global Initiative for Asthma (GINA) guidelines as a comparative tool. METHODS A cross-sectional survey was conducted in Karachi, Pakistan. Of 250 GPs approached, 192 completed a self-administered questionnaire regarding pathology, key history points, risk factors, diagnosis, and management of asthma. RESULTS Overall, 28.6% of GPs had adequate knowledge of the core concepts of asthma, while only 10.4% had adequate practice in asthma management. About 78% of GPs had inadequate knowledge of pathology, about 90% had inadequate knowledge of medications to be used, and 63% had inadequate knowledge regarding diet restrictions. Knowledge regarding symptoms not usually associated with asthma was adequate, as was knowledge regarding non-pharmacological management (79% each). Practices regarding asthma diagnosis were good (99.0%). However, practices regarding acute exacerbations and patients who wish to exercise were inadequate in 85.9% and 82.8% of GPs, respectively. CONCLUSIONS The majority of GPs had poor knowledge and practice of asthma. We recommend initiation of programmes to improve their knowledge and practices.
Anticoagulation in atrial fibrillation and co-existent chronic kidney disease: efficacy versus safety

Introduction: Patients with atrial fibrillation (AF) and chronic kidney disease (CKD) are individually associated with a higher incidence of stroke as compared with the general population. Over the last two decades, an increase in prevalence of AF is seen in patients with CKD. While long-term anticoagulation with warfarin is well established to reduce the risk of thromboembolic event in patients with AF, its safety and efficacy has not been documented in patients with severe CKD. Areas covered: In this review, the authors analyze the risk and benefit of long term anticoagulation across the spectrum of AF patients with CKD and explore the role of novel agents in this unique patient population. A Medline search of the English literature published between 1980 and 2012 was performed using the heading ‘chronic kidney disease' combined with ‘atrial fibrillation', ‘hemodialysis', ‘warfarin', ‘anticoagulation' and ‘new oral anticoagulants'. Expert opinion: Long-term anticoagulation with warfarin under strict monitoring appears to be the cornerstone of therapy in patients with CKD to prevent stroke. Further research is warranted to explore the safety and efficacy of newer anticoagulant agents in these high-risk patients in order to reduce the incidence of disabling stroke.
In Vitro Activities of Ravuconazole and Four Other Antifungal Agents against Fluconazole-Resistant or -Susceptible Clinical Yeast Isolates

ABSTRACT The activities of ravuconazole and four other antifungal agents were tested against a collection of 1,796 clinical yeast isolates, including fluconazole-susceptible and -resistant strains. Ravuconazole was active against the majority of fluconazole-resistant isolates; but for 102 of 562 (18%) resistant isolates, mainly Candida tropicalis, Candida glabrata, and Cryptococcus neoformans, ravuconazole MICs were ≥1 μg/ml.
Corporate Governance and Environmental Reporting: An Australian Study

The development of best practice recommendations by the Corporate Governance Council (CGC) of the Australian Stock Exchange in 2003 clearly linked corporate regulators' concerns about good governance to the concept of corporate social and environmental responsibility. The CGC recommended that one way to demonstrate good governance was to use the annual report to disclose information to all legitimate stakeholders. This paper reports on the quantity and categories of environmental information disclosed in the corporate annual reports of 41 Australian companies across eight industry groups covering the period 1983-2003. This time period has seen the importance of good corporate governance practice in relation to environmental protection escalate, as demonstrated by the introduction of separate environmental and sustainability reports, the advent of triple bottom line reporting, changes in environmental legislation and the occurrence of major environmental incidents. The results of this study indicate that an increasing number of companies are disclosing environmental information, and the relative volume of such information in annual reports is increasing across all categories. Copyright (c) 2007 The Authors; Journal compilation (c) 2007 Blackwell Publishing Ltd.
Losing money with a high Sharpe ratio

A simple example shows that losing all money is compatible with a very high Sharpe ratio (as computed after losing all money). However, the only way that the Sharpe ratio can be high while losing money is that there is a period in which all or almost all money is lost. This note explores the best achievable Sharpe and Sortino ratios for investors who lose money but whose one-period returns are bounded below (or both below and above) by a known constant.
Rosuvastatin 20 mg restores normal HDL-apoA-I kinetics in type 2 diabetes Published, JLR Papers in Press, January 22, 2009. This study was supported by a grant from AstraZeneca.

Catabolism of HDL particles is accelerated in type 2 diabetes, leading to a reduction in plasma residence time, which may be detrimental. Rosuvastatin is the most powerful statin to reduce LDL-cholesterol, but its effects on HDL metabolism in type 2 diabetes remain unknown. We performed a randomized double-blind cross-over trial of 6-week treatment period with placebo or rosuvastatin 20 mg in eight patients with type 2 diabetes. An in vivo kinetic study of HDL-apolipoprotein A-I (apoA-I) with 13C leucine was performed at the end of each treatment period. Moreover, a similar kinetic study was carried out in eight nondiabetic normolipidemic controls. Rosuvastatin significantly reduced plasma LDL-cholesterol (−51%), triglycerides (TGs) (−38%), and HDL-TG (−23%). HDL-apoA-I fractional catabolic rate (FCR) was decreased by rosuvastatin (0.25 ± 0.06 vs. 0.32 ± 0.07 pool/day, P = 0.011), leading to an increase in plasma HDL-apoA-I residence time (4.21 ± 1.02 vs. 3.30 ± 0.73 day, P = 0.011). Treatment with rosuvastatin was associated with a concomitant reduction of HDL-apoA-I production rate. The decrease in HDL-apoA-I FCR, induced by rosuvastatin, was correlated with the reduction of plasma TGs and HDL-TG. HDL apoA-I FCR and production rate values in diabetic patients on rosuvastatin were not different from those found in controls. Rosuvastatin is responsible for a 22% reduction of HDL-apoA-I FCR and restores to normal the increased HDL turnover observed in type 2 diabetes. These kinetic modifications may have beneficial effects by increasing HDL plasma residence time.
Inequalities in Universal Health Coverage: Evidence from Vietnam

Exploiting a window of opportunity in Vietnam, this paper examines the impact of social health insurance on target population groups. Significant inequalities in the coverage of service utilization and financial protection are found across groups. Persons with disabilities, and retirees to a lesser extent, experienced relatively high rates of service utilization and were most at risk of health care-induced poverty. A higher level of targeting in the design of benefit packages is recommended.
Developmental loss of miniature N-methyl-d-aspartate receptor currents in NR2A knockout mice

The N-methyl-d-aspartate (NMDA) glutamate receptor (NMDAR), long implicated in developmental plasticity, shows decay time kinetics that shorten postnatally as NR2A subunits are added to the receptor. Neither the mechanism nor immediate effect of this change is known. We studied developing NMDAR currents by using visual neurons in slices from NR2A knockout (NR2AKO) and WT mice. Both strains show increased dendritic levels of synaptic density scaffolding protein PSD-95 with age. Dendritic levels of NR2A increased at the same time in WT and immunoprecipitated with PSD-95. PSD-95/NMDAR binding was significantly decreased in the NR2AKO. Moreover, NMDAR miniature currents (minis) were lost and rise times of NMDAR evoked currents increased in mutant mice. Age-matched WT cells showed NR2A-rich receptors predominating in minis, yet slow NR2B mediated currents persisted in evoked currents. Disrupting photoreceptor activation of retinal ganglion cells eliminated increases in PSD-95 and NR2A in superior collicular dendrites of WT mice and slowed the loss of miniature NMDAR currents in NR2AKOs. These data demonstrate that NMDARs that respond to single quantal events mature faster during development by expressing the NR2A subunit earlier than NMDARs that respond to evoked release. We hypothesize that NR2A-rich NMDARs may be localized to the center of developing synapses by an activity-dependent process that involves the targeting of PSD-95 to the postsynaptic density. Neonatal receptors become restricted to perisynpatic or extrasynaptic sites, where they participate primarily in evoked currents.
Factors Affecting Convention Participation Decision-Making: Developing a Measurement Scale

The study developed a measurement scale to examine factors affecting convention participation decision-making. The scale development process started with a review of extant literature and personal interviews, followed by data collection through a Web survey of selected association members. Data were subjected to exploratory factor analysis and unidimensionality tests via subsequent confirmatory factor analysis. These procedures yielded a five-factor measurement scale with acceptable levels of reliability and validity. Five underlying dimensions of convention participation decision-making were labeled: (a) destination stimuli, (b) professional and social networking opportunities, (c) educational opportunities, (d) safety and health situation, and (e) travelability. The implications of the scale are discussed for future research as well as convention marketing strategy.
Quadratic Hawkes processes for financial prices

We introduce and establish the main properties of QHawkes (‘Quadratic’ Hawkes) models. QHawkes models generalize the Hawkes price models introduced in Bacry and Muzy [Quant. Finance, 2014, 14(7), 1147–1166], by allowing feedback effects in the jump intensity that are linear and quadratic in past returns. Our model exhibits two main properties that we believe are crucial in the modelling and the understanding of the volatility process: first, the model is time-reversal asymmetric, similar to financial markets whose time evolution has a preferred direction. Second, it generates a multiplicative, fat-tailed volatility process, that we characterize in detail in the case of exponentially decaying kernels, and which is linked to Pearson diffusions in the continuous limit. Several other interesting properties of QHawkes processes are discussed, in particular the fact that they can generate long memory without necessarily being at the critical point. A non-parametric fit of the QHawkes model on NYSE stock data shows that the off-diagonal component of the quadratic kernel indeed has a structure that standard Hawkes models fail to reproduce. We provide numerical simulations of our calibrated QHawkes model which is indeed seen to reproduce, with only a small amount of quadratic non-linearity, the correct magnitude of fat-tails and time reversal asymmetry seen in empirical time series.
Do organizational strategies mediate nonverbal memory impairment in drug-naïve patients with obsessive-compulsive disorder?

OBJECTIVE The present study aimed to examine nonverbal memory and organizational skill functions in psychotropic-naïve patients with OCD. METHOD Forty-one drug-naïve, 41 medicated OCD patients and 41 healthy controls, all of whom were matched for gender, age, education and intelligence, were included in the study. The Rey-Osterrieth Complex Figure Test (RCFT) was administered to evaluate nonverbal memory ability and organizational skill. RESULTS OCD patients demonstrated impaired nonverbal memory irrespective of medication status (F = 6.54, p < .01, eta(2)p = . 098 for immediate recall; F = 7.76, p < . 01, eta(2)p = . 114 for delayed recall). Medicated patients showed deficits in organizational strategies (eta(2)p = . 079), which mediated nonverbal memory impairment (Z = -2.20, p = .027). The difference of organizational skill between drug-naïve and control groups did not reach statistical significance (eta(2)p = . 054) and the association between organization and nonverbal memory was weak in the drug-naïve sample (Z = -1.74, = .081). There was no significant difference between the patient groups in RCFT indices. CONCLUSIONS Our findings suggest that the organizational strategies may not be an effective mediator of nonverbal memory impairment in OCD and indicate that the clinical characteristics may be important to be considered in future research. Further studies are needed to improve understanding of the nature of nonverbal memory dysfunction in OCD.
From Cash to Accrual Budgeting and Accounting in the Public Sector: The Dutch Experience

Traditionally, governments used to deploy input-based budgeting systems and cash-based accounting systems. However, these systems do not provide the information that is necessary for a government to operate efficiently and effectively. Therefore, a growing number of countries have already shifted or are planning to shift from cash-based to some form of accrual accounting in the public sector. Usually, the implementation of some accrual-based system is linked to wider financial management reforms including performance management requiring information on cost. This paper focuses on the Dutch experience with the shift from cash-based accounting and budgeting systems to an accrual-based system.
Survival of Escherichia coli O157:H7 in bottled natural mineral water

M. KERR, M. FITZGERALD, J.J. SHERIDAN, D.A. MC DOWELL and I.S. BLAIR.1999. A non‐verotoxin‐producing isolate of Escherichia coli O157:H7 was inoculated at final concentrations of 103 or 106 ml−1 into natural non‐carbonated mineral water (MW), sterile natural mineral water (SMW) and sterile distilled deionized water (SDDW) and stored at 15 °C for 10 weeks. Samples were examined every 7 d for the presence of E. coli O157:H7 using a resuscitative/selective agar procedure. The MW samples were also plated onto a non‐selective agar, R2A, to enumerate E. coli O157:H7 and the autochthonous flora. There was a significant difference in the survival of E. coli O157:H7 (103 ml−1 inoculum) between the MW and the SDDW at time periods 0, 7, 14 (P < 0·005) 21, 28, 35 (P < 0·001) and 42 d (P < 0·05) and between the MW and the SMW at time periods 7, (P < 0·05) 14, 21 (P < 0·005) 28 (P < 0·01) and 35 d (P < 0·05), with the pathogen surviving longest in the MW samples. In contrast, at 106 ml−1, no significant differences in the survival of E. coli O157:H7 were observed between the water types. The presence of E. coli O157:H7 (103 ml−1) in the MW samples did not have an antagonistic effect on the recovery of the autochthonous flora. Transmission electron microscopy analysis demonstrated that the E. coli O157:H7 cells lyse during storage, releasing their contents into the surrounding environment. These substances may have been utilized by the autochthonous flora and thereby explain why the numbers of flora recovered from the inoculated MW samples were higher than those recovered from the uninoculated samples.
Challenges of Bank Credit Among Small and Medium Enterprises (SMEs) in Nigeria

The survey research design was adopted, and the study was specifically designed to evaluate the challenges of bank-credit among SMEs in Nigeria and make recommendations. The questionnaire and indent interview methods were used to generate data. Data generated were coded and analyzed through tables, frequencies, percentages and X2. Bank credit refers to loans, advances and discounts (LAD) extended to borrowers for productive ventures. Nigerian Banks are still very slow in lending to SMEs. They believe that SMEs are usually not properly organized and therefore consider lending to the sector highly risky. Where they must lend, they insist on stringent loan processes including the provision of adequate collateral. These stringent loan processes frequently cut off many SMEs from having access to bank credit, and to check insider fraud, banks have placed embargo on lending without collateral. The study found that it is not easy for SMEs to have access to bank credit in Nigeria. Ten recommendations were made based on the result of the study.
Chronic intracellular infection of alfalfa nodules by Sinorhizobium meliloti requires correct lipopolysaccharide core

Our analyses of lipopolysaccharide mutants of Sinorhizobium meliloti offer insights into how this bacterium establishes the chronic intracellular infection of plant cells that is necessary for its nitrogen-fixing symbiosis with alfalfa. Derivatives of S. meliloti strain Rm1021 carrying an lpsB mutation are capable of colonizing curled root hairs and forming infection threads in alfalfa in a manner similar to a wild-type strain. However, developmental abnormalities occur in the bacterium and the plant at the stage when the bacteria invade the plant nodule cells. Loss-of-function lpsB mutations, which eliminate a protein of the glycosyltransferase I family, cause striking changes in the carbohydrate core of the lipopolysaccharide, including the absence of uronic acids and a 40-fold relative increase in xylose. We also found that lpsB mutants were sensitive to the cationic peptides melittin, polymyxin B, and poly-l-lysine, in a manner that paralleled that of Brucella abortus lipopolysaccharide mutants. Sensitivity to components of the plant's innate immune system may be part of the reason that this mutant is unable to properly sustain a chronic infection within the cells of its host-plant alfalfa.