Miracle-dz/UniFAR-FTUs huggingface dataset:
Institutions, Property Rights, and Growth

This paper presents a growth model in which property rights are insecure and costly to enforce. Losses of property provide the impetus to establish institutions which seek to enforce property rights. Institutions are shown to implement policies that enforce property rights. The model establishes that economies in which the institutional structure does not adequately protect property rights grow slowly, or not at ail, while countries with better property rights protection grow in accordance with the standard neoclassical model. Because income inequality is a primary incentive to violate another's property rights, the model also provides a positive theory of income redistribution. Empirical tests of the model's predictions demonstrates that government expenditures that enforce property rights raise per capita income growth.
Industrial clusters, shared resources and firm performance

Drawing upon the resource-based view, this paper examines the relationships between various types of cluster-based shared resources and cluster firm performance in the Chinese context. Using survey data from a sample of 294 small- and medium-sized enterprises from industrial clusters in Zhejiang Province, we find evidence to support arguments that cluster firms in comparison with non-cluster firms demonstrate significantly higher perceptions of shared resources and that shared resources exclusively available to cluster firms link to better cluster firm performance. The findings of our research suggest that cluster policy needs to attend to the constituents of shared resources in order to enhance firm performance.
Stock Trading before the Announcement of Tender Offers: Insider Trading or Market Anticipation?

Recent insider trading actions by the government against Dennis Levine, Ivan Boesky, Martin Siegel, and others have influenced the public's perception of mergers and acquisitions activity. ' These well-publicized cases generally involve illegal insider trading based on nonpublic information about impending bids for takeover targets.2 Many regulators have interpreted public concern about illegal insider trading as political support for legislative proposals to restrict takeovers. These regulators argue that increased trading in stocks of tender offer targets before bid announcements indicates the pervasive nature of insider trading. Congressman Edward Markey (DMass.), chairman of the House Telecommunications and Finance Subcommittee, provides an example of how policymakers connect hostile takeovers
Rutin Inhibits Streptococcus suis Biofilm Formation by Affecting CPS Biosynthesis

Streptococcus suis (S. suis) form biofilms and causes severe diseases in humans and pigs. Biofilms are communities of microbes embedded in a matrix of extracellular polymeric substances. Eradicating biofilms with the use of antibiotics or biocides is often ineffective and needs replacement with other potential agents. Compared to conventional agents, promising and potential alternatives are biofilm-inhibiting compounds without impairing growth. Here, we screened a S. suis adhesion inhibitor, rutin, derived from Syringa. Rutin, a kind of flavonoids, shows efficient biofilm inhibition of S. suis without impairing its growth. Capsular polysaccharides(CPS) are reported to be involved in its adherence to influence bacterial biofilm formation. We investigated the effect of rutin on S. suis CPS content and structure. The results showed that rutin was beneficial to improve the CPS content of S. suis without changing its structure. We further provided evidence that rutin specifically affected S. suis biofilm susceptibility by affecting CPS biosynthesis in vitro. The study explores the antibiofilm potential of rutin against S. suis which can be used as an adhesion inhibitor for the prevention of S. suis biofilm-related infections. Nevertheless, rutin could be used as a novel natural inhibitor of biolfilm and its molecular mechanism provide basis for its pharmacological and clinical applications.
EFFECT OF MERGERS ON THE SHARE PRICE MOVEMENT OF THE ACQUIRING FIRMS: A UK STUDY

The profitability of mergers in Britain has not received the same attention as in the USA. This study examines mergers for the UK industrial sector as a whole for a period (1974–76) when merger activity was relatively slack. A standard methodology is used, but the size effects and the activeness of acquirors as well as the financing of the acquisition are examined. The conclusions contradict to some extent those found by other researchers in that the evidence was inconsis- tent with the Efficient Markets Hypothesis. The effect of taking firm size into account was found to reduce the standard deviations of the sample and it would appear that the cash mergers were viewed as less desirable by the market com- pared to equity exchange. For the separation of merger activehon active firms it was found that there was less dispersion of the residuals for non-merger active firms.
Dynamic analysis of the capital structure in technological firms based on their life cycle stages

This article analyses the effect of a firm’s life cycle stages on the capital structure in tech versus non-tech firms using a wide sample of public companies from Europe. An innovative approach based on operating, investing and financing cash flows allows us to analyse differences in leverage and specify the differential role of significant drivers of the capital structure across stages in both sectors. Our results point to the information asymmetry factor posed by the pecking order as the predominant driver behind the differences in the effect of intangible assets and growth opportunities for tech firms in some stages, mainly maturity. Frank and Goyal’s (2003) test of the pecking order theory confirms the lower use of debt by tech firms during all life cycle stages. In addition, we find that the results obtained for tech firms are largely attributable to the behaviour of high-tech firms with the highest growth opportunities.
Information Technology Adoption in Small Business: Confirmation of a Proposed Framework

This paper investigates which drivers affect information technology () adoption and which factors relate to a successful implementation in small businesses, where the adoption rate is traditionally low and the failure rate is high. The findings from this study suggest that customers are the main driving force of adoption. When it comes to implementation, our results suggest that managers/owner–managers must engage with five factors: organization, internal resources, external consultants, supplier relations, and customer relations. These findings give further insight into adoption in small businesses and highlight the importance of customer relations in the adoption process.
Gender Dimensions of Alcohol Consumption and Alcohol-Related Problems in Latin America and the Caribbean

The report examines the gender dimensions of alcohol consumption, and alcohol-related problems in Latin America and the Caribbean (LAC) region. It finds that alcohol use is one of the major causes of the global disease burden, ranking as the fourth cause of disability among men in less developed countries. It also finds that men bear most of the burden of alcohol-related diseases, and that alcohol plays an important role in instigating unsafe sex practices, and violent behaviors, for example, domestic violence. Moreover, the report shows that men are more likely than women, to drink alcohol heavily, and excessively, and, that drinking norms influence these gender differences in alcohol consumption. As for alcohol policies in the LAC region, the report finds that these focus overwhelmingly on control of availability, and access to alcohol; implementation and enforcement of these policies, however, remain superficial. Finally, the report lays out policy options for LAC countries, ranging from imposing taxes, to putting in place public education campaigns. But it stresses the importance of establishing policies, and programs that consider gender differences in alcohol consumption patterns, and alcohol related problems.
3D Box Proposals From a Single Monocular Image of an Indoor Scene

Modern object detection methods typically rely on bounding box proposals as input. While initially popularized in the 2D case, this idea has received increasing attention for 3D bounding boxes. Nevertheless, existing 3D box proposal techniques all assume having access to depth as input, which is unfortunately not always available in practice. In this paper, we therefore introduce an approach to generating 3D box proposals from a single monocular RGB image. To this end, we develop an integrated, fully differentiable framework that inherently predicts a depth map, extracts a 3D volumetric scene representation and generates 3D object proposals. At the core of our approach lies a novel residual, differentiable truncated signed distance function module, which, accounting for the relatively low accuracy of the predicted depth map, extracts a 3D volumetric representation of the scene. Our experiments on the standard NYUv2 dataset demonstrate that our framework lets us generate high-quality 3D box proposals and that it outperforms the two-stage technique consisting of successively performing state-of-the-art depth prediction and depth-based 3D proposal generation.
R&D and Productivity Growth: Comparing Japanese and U.S. Manufacturing Firms

We compute rates of growth in labor productivity during the 1973-80 period for samples of individual manufacturing firms, in both Japan and the U.S., and relate them to differences in the rates of growth in their capital-labor ratios and in their intensities of R&D effort. Japanese firms spent about as much of their own money on R&D, relative to sales, as did similar U.S.firms. An econometric analysis of R&D performing firms leads to the acceptance of the hypothesis that the contribution of such expenditures to productivity growth was about the same in both countries. Hence, the rather large differences on the observed rates of productivity growth between the two countries can not be accounted for by differences in either the intensity or fecundity of such expenditures. We do find two important differences between the two countries which help to explain a significant fraction of the observed differences in productivity but require in turn, an explanation of their own: 1) Japanese firms reduced their employment levels significantly during this period while US firms were increasing theirs. This, by itself, accounts for the twice as fast growth in capital-labor ratio in Japanese manufacturing. 2) The estimated effect of the growth in the capital-labor ratio on firm productivity is approximately twice as large in Japan than in the US. The two factors together can account for about half of the observed differences in the average rates of productivity growth between the two countries.
A genetic dissection of the retinoid signalling pathway in the mouse

To determine the functions of retinoic acid receptors RAR and RXR, we have systematically knocked-out their genes by homologous recombination in the embryonic stem cells and generated null-mutant mice. This approach has allowed us to perform a genetic dissection of the retinoic acid signalling pathway.
Pension Assets, Corporate Earnings, and Expected Return Assumptions

Corporate earnings can be enhanced by means of pension fund accounting. The critical factor is the rate of return assumptions on plan assets, particularly in light of recent dramatic changes in stock market returns and today's reduced estimates of expected future returns. The rate of return assumptions made by a number of S&P 500 companies are unusually optimistic when the probabilities of realizing these returns are calculated. In fact, the earnings of several companies with defined-benefit plans may be significantly adversely affected in the next few years.
POFBG-Embedded Cork Insole for Plantar Pressure Monitoring

We propose a novel polymer optical fiber (POF) sensing system based on fiber Bragg gratings (FBGs) to measure foot plantar pressure. The plantar pressure signals are detected by five FBGs, in the same piece of cyclic transparent optical polymer (CYTOP) fiber, which are embedded in a cork insole for the dynamic monitoring of gait. The calibration and measurements performed with the suggested system are presented, and the results obtained demonstrate the accuracy and reliability of the sensing platform to monitor the foot plantar pressure distribution during gait motion and the application of pressure. This architecture does not compromise the patient’s mobility nor interfere in their daily activities. The results using the CYTOP fiber showed a very good response when compared with solutions using silica optical fibers, resulting in a sensitivity almost twice as high, with excellent repeatability and ease of handling. The advantages of POF (e.g., high flexibility and robustness) proved that this is a viable solution for this type of application, since POF’s high fracture toughness enables its application in monitoring patients with higher body mass compared with similar systems based on silica fiber. This study has demonstrated the viability of the proposed system based on POF technology as a useful alternative for plantar pressure detection systems.
Family businesses' succession planning: a seven‐country comparison

Purpose – The purpose of this article is to measure and compare differences in levels of family business planning for succession in seven countries: Croatia, Egypt, France, India, Kosovo, Kuwait, and the USA.Design/methodology/approach – The research methodology was survey research collecting data from seven countries. Analysis of covariance (ANCOVA) was run to test for differences in family business succession planning between countries, controlling for years in business, number of employees, industry, and type of ownership. ANCOVA was followed by a post hoc pairwise comparisons least significant difference (LSD) to determine which countries did have significant differences in their extent of succession planning.Findings – The paper finds that there were statistically significant differences in family business succession planning between Croatia, Egypt, France, Kosovo, Kuwait, and the USA. However, there were no statistically significant differences between India and the other six countries.Research limi.
A Meta-Analytic Vision of the Effect of Ownership Structure on Firm Performance

There is a considerable volume of research on the effects of ownership structure on firm performance. However, the empirical results in this field are often conflicting and inconsistent. A meta-analysis based on 33 studies allows an integration of the results on the association between insider ownership, ownership concentration and firm performance. The findings show that governance system, measurement of performance, and control for endogeneity moderate the effect of ownership on firm performance.
Does the business size matter on corporate sustainable performance? The Australian business case

While a growing majority of research studies have concentrated on triple bottom line public reporting in large organisations, the review of past research suggests there seems to be limited support and importance given to small and medium sized businesses. This paper attempts to examine whether business size matters when it comes to corporate sustainability. To achieve this, we have conducted an empirical study to investigate sustainable business practices in small, medium and large organisations. With a sample of 80 different Australia-based firms, we have examined various parameters attributing to corporate sustainability and have arrived at three kinds of performance outcomes (factors) that concur with triple bottom line principles, which we term as: 1) corporate environmental performance outcome (CEPO); 2) corporate social performance outcome (CSPO); 3) corporate financial performance outcome (CFPO). The results of the ANOVA analysis of these factors against business size have been discussed and the significantly higher CEPO in large size businesses than in small or medium size businesses have been explored. This paper also unearths the implications of these results on corporate sustainability and recommends possible improvements to increase the focus around environmental sustainability.
Inhibition of Hepatitis B Virus Polymerase by Entecavir

ABSTRACT Entecavir (ETV; Baraclude) is a novel deoxyguanosine analog with activity against hepatitis B virus (HBV). ETV differs from the other nucleoside/tide reverse transcriptase inhibitors approved for HBV therapy, lamivudine (LVD) and adefovir (ADV), in several ways: ETV is >100-fold more potent against HBV in culture and, at concentrations below 1 μM, displays no significant activity against human immunodeficiency virus (HIV). Additionally, while LVD and ADV are obligate DNA chain terminators, ETV halts HBV DNA elongation after incorporating a few additional bases. Three-dimensional homology models of the catalytic center of the HBV reverse transcriptase (RT)-DNA-deoxynucleoside triphosphate (dNTP) complex, based on the HIV RT-DNA structure, were used with in vitro enzyme kinetic studies to examine the mechanism of action of ETV against HBV RT. A novel hydrophobic pocket in the rear of the RT dNTP binding site that accommodates the exocyclic alkene moiety of ETV was predicted, establishing a basis for the superior potency observed experimentally. HBV DNA chain termination by ETV was accomplished through disfavored energy requirements as well as steric constraints during subsequent nucleotide addition. Validation of the model was accomplished through modeling of LVD resistance substitutions, which caused an eightfold decrease in ETV susceptibility and were predicted to reduce, but not eliminate, the ETV-binding pocket, in agreement with experimental observations. ADV resistance changes did not affect the ETV docking model, also agreeing with experimental results. Overall, these studies explain the potency, mechanism, and cross-resistance profile of ETV against HBV and account for the successful treatment of naive and LVD- or ADV-experienced chronic HBV patients.
Changes in the Economic Returns to Attending Prestigious Institutions in Norway

ABSTRACT The purpose of this paper is to explore whether the returns to attending a prestigious higher education institution have increased in Norway for students who graduated in 1975 to students who graduated in 1999. A handful of published studies find that the returns to attending prestigious institutions have increased in the last decades. However, they all study the USA, which has a decentralized wage bargaining system. The results in this paper shed light on whether a centralized wage bargaining system, typical for many west-European countries, prevents the returns to attending prestigious institutions from increasing. I find that attending prestigious institutions pays off economically in Norway and that the returns have increased throughout the investigated period. Another aim of this paper is to investigate whether the returns have increased more at the top of the earnings distribution than at the bottom. I find that the returns are highest at the top of the earnings distribution and have increased the most at the top. At the 90th quantile, for instance, students who attended a prestigious business school between 1975 and 1979 obtained 80% higher earnings than students attending nonprestigious institutions in the same period. Among students who graduate 20 years later, this difference is 139%.
How much does labour turnover cost? A case study of Australian four- and five-star hotels

Purpose – Employee turnover is a significant challenge for human resource management (HRM) strategies and organisational performance. This study seeks to present findings drawn from an extensive survey of labour turnover in the Australian accommodation sector. A particular focus is placed on turnover rates and costs.Design/methodology/approach – Based on labour turnover literature and an industry panel, an online survey was designed and distributed to four‐ and five‐star hotels across Australia. Human resource managers from 64 hotels participated in the survey, providing a representative sample and a response rate of 29 percent.Findings – The research shows that the major costs are attributed to labour turnover. These are costs that both the industry and individual operators should examine closely, as they impact substantially on hotel operating costs and profitability. It also indicates that the levels of service, consumer experience and value may be impacted.Research limitations/implications – A limitat.
Competitive Procurement with Corruption

We study competitive procurement administered by a corrupt agent who is willing to manipulate his evaluation of contract proposals in exchange for bribes. With complete information and no corruption, the efficient firm will win the contract for sure. If the agent is corrupt and has large manipulation power, however, bribery makes it costly for the efficient firm to secure a sure win, so in equilibrium the efficient firm loses the contract with positive probability. The optimal scoring rule for the buyer deemphasizes quality relative to price and does not fully handicap, and may even favor, the efficient firm.
A randomized, controlled trial comparing IV iron sucrose to oral iron in anemic patients with nondialysis-dependent CKD.

BACKGROUND Although iron deficiency frequently complicates anemia in patients with nondialysis-dependent CKD (ND-CKD), the comparative treatment value of IV iron infusion and oral iron supplementation has not been established. METHODS In a randomized, controlled multicenter trial, we compared the efficacy of iron sucrose, given as 1 g in divided IV doses over 14 days, with that of ferrous sulfate, given 325 mg orally thrice daily for 56 days in patients with ND-CKD stages 3 to 5, Hb < or =11 g/dL, TSAT < or =25%, and ferritin < or =300 ng/mL. Epoetin/darbepoetin therapy, if any, was not changed for eight weeks prior to or during the study. RESULTS The proportion of patients achieving the primary outcome (Hb increase > or =1 g/dL) was greater in the IV iron treatment group than in the oral iron treatment group (44.3% vs. 28.0%, P= 0.0344), as was the mean increase in Hb by day 42 (0.7 vs. 0.4 g/dL, P= 0.0298). Compared to those in the IV iron group, patients in the oral iron treatment group showed a greater decline in GFR during the study (-4.40 vs. -1.45 mL/min/1.73m2, P= 0.0100). No serious adverse drug events (ADE) were seen in patients administered IV iron sucrose as 200 mg IV over two to five minutes, but drug-related hypotension, including one event considered serious, occurred in two females weighing less than 65 kg after 500 mg doses were given over four hours. CONCLUSION IV iron administration using 1000 mg iron sucrose in divided doses is superior to oral iron therapy in the management of ND-CKD patients with anemia and low iron indices.
The Accuracy of Profit Forecasts and their Roles and Associations with IPO Firm Valuations

China's recent economic reforms include the corporatization and listing of formerly state-owned enterprises. In order to sell shares to both domestic and foreign investors, IPOs have to overcome significant asymmetric information problems. Prospectuses for new issues in China contain forecasts of corporate profits for the next year and these forecasts can be used by investors to value companies and to make investment decisions. The study sets out to assess the accuracy of these forecasts and hence the credibility that can be attached to them. In addition to calculating various measures of accuracy and forecast superiority, we also examine the bias and rationality of the forecasts. The results show that profit forecasts are moderately accurate and they are better than time series extrapolations of historical profits. Explaining cross-sectional differences in accuracy measures proves to be difficult. Finally, the results indicate that profit forecasts are related to company valuations and that investors predict the sign, and to some extent the magnitude, of forecast errors.