Miracle-dz/UniFAR-FTUs huggingface dataset:
Determinants of Corporate Debt Maturity in South America: Do Institutional Quality and Financial Development Matter?

We test whether a country's level of financial development or institutional quality (or both) has a first‐order effect on corporate debt maturity decisions on a sample of 359 non-financial firms from five South American countries over a 12‐year period. We find that there is a substantial dynamic component in the determination of a firm's debt maturity, and firms face moderate adjustment frictions toward their optimal maturities. More importantly, the level of financial development does not influence debt maturity, whereas the institutional quality of a country has a significant positive effect on the level of long-term debt in a firm's financial structure. Our results support the hypothesis that the quality of national institutions is an important determinant of corporate financing in general and of debt maturity in particular.
Discussion of: 'Taxable Income as a Performance Measure: The Effects of Tax Planning and Earnings Quality'

Ayers, Jiang and Laplante (2008) provide evidence that the association between taxable income and market returns is a function of the level of noise in taxable income. Their study extends the nascent but growing literature which documents a correlation between taxable income and market returns - a result which holds up in multivariate analyses that properly control for book income (e.g., Hanlon, 2005; Hanlon, Laplante and Shevlin, 2005; Lev and Nissim, 2004; and Shevlin, 2002). Ayers et al. (2008) partition their sample firms based on the extent of tax planning and provide evidence that the noise introduced by this activity weakens the association between taxable income and returns. This result provides a useful contribution to the literature because it strengthens the body of evidence which suggests that taxable income incorporates elements of economic income. The paper also provides evidence which addresses whether the association between taxable income and market returns is a function of the noise in book income. This discussion will focus on three issues: (1) hypothesis development, (2) research design, and (3) directions for future research.
High-involvement work processes, work intensification and employee well-being

Using a national population survey, this article examines how high-involvement work processes affect employee well-being. The analysis shows that greater experiences of autonomy and participation in decision-making have positive or neutral effects. Higher involvement is a key factor predicting higher job satisfaction and better work–life balance while it has no relationship to stress or fatigue. In contrast, higher levels of work intensity increase fatigue and stress and undermine work–life balance. If the quality of working life is a key objective in a reform based on greater employee involvement, close attention needs to be paid to the balance between processes that release human potential and those that increase the intensity of work.
North American MNCs and their HR policies in liberal and coordinated market economies

We explore the landscape of HRM in North American MNCs which have been for long characterized as having an express preference for institutionalizing aspects of the home business system when operating aboard. Drawing upon institutional theory, both the USA and Canada are identified as liberal market economies. Building on this, we examine the HR preferences of subsidiaries originating in North America and operating in diverse liberal and coordinated market economies in order to test the extent to which the host context influences the pattern of HR policies and practices pursued, referring predominantly to the literature on USA firms. The results indicate that the pattern of HR practices pursued by North American owned MNCs varies widely depending on whether these North American owned MNCs are operating in liberal or coordinated market economies, lending support to the importance of context as a determinant of the likelihood of, and limits to, the transfer of HRM practices and preferences.
The Italian model of capitalism: on the road between globalization and Europeanization?

The article has two objectives. First, it explores whether the Italian model of capitalism has been transformed in recent decades. This involves trying to place the Italian case in the framework established by the varieties of capitalism literature. It argues that while Italian capitalism has undergone significant changes, it has not become a form of either market or co-ordinated capitalism. As a form of 'dysfunctional' state capitalism, it has adopted and mimicked elements of both without becoming either. This is because many of the political and economic factors that were at the heart of the model in the post-war era remain in place. Second, it will argue that the role of European integration in this process of change has been, at best, indirect and that broader global and economic pressures may be responsible for change.
Macroeconomic Seasonality and the January Effect

Many financial markets researchers have sought an explanation for the role of January in stock returns. Any explanation of this phenomenon that is consistent with rational pricing must specify a source of seasonality in expected returns. The pervasive seasonality in the macroeconomy is an appealing possibility. A multifactor model that links macroeconomic risk to expected return is found to show substantial seasonality in expected returns. This model accounts for the seasonality in average returns, while the capital asset pricing model cannot. Copyright 1994 by American Finance Association.
Schoolwide Applications Model: Implications for Academic Achievement in the District of Columbia Public Schools

This study investigated the impact of the Schoolwide Applications Model (SAM) on the academic achievement of students attending seven schools in the District of Columbia Public Schools (DCPS). Between-subjects ANCOVAs were conducted to compare the academic achievement scores of students attending DCPS SAM schools to the scores of students attending comparable DCPS schools not implementing SAM across three years, while controlling for differences at baseline. Another between-subjects ANCOVA was conducted to analyze the academic achievement of students attending schools with high levels of fidelity to the model to schools with low levels of fidelity to the model and non-SAM comparison schools. A repeated measures ANOVA was conducted to show the effect of SAM on academic achievement of individual students with test scores obtained during all three years of SAM implementation. Results of this study indicated mostly insignificant findings or significant findings in favor of comparison schools. Fidelity of reform implementation, leadership transitions in DCPS, and the sole use of standardized state assessment data to measure student achievement impacted study results. Broader implications of study results on policy, research, and practice are explored. Ideas for future research are also discussed.
Closed-Form Option Pricing Formulas with Extreme Events

This paper explores the effect of extreme events or big jumps downwards and upwards on the jump‐diffusion option pricing model of Merton (1976). It starts by obtaining a special case of the jump‐diffusion model where there is a positive probability of a big jump downwards. Then, it obtains a new limiting case where there is an asymptotically big jump upwards. The paper extends these models to allow both types of jumps. In some cases these formulas nest Samuelson's (1965) formulas. This simple analysis leads to several closed‐form solutions for calls and puts, which are able to generate smiles, and skews with similar shapes to those observed in the marketplace. © 2008 Wiley Periodicals, Inc. Jrl Fut Mark 28:213–230, 2008
Maximizing franchisee satisfaction in the restaurant sector

Discusses a recent study into the level of satisfaction experienced by franchisees in the Australian restaurant sector. A model of consumer buying behaviour was used to identify the characteristics of both franchisers and franchisees which contribute to owner‐manager satisfaction with the purchase and operation of a franchised small business. The post‐purchase intentions of franchisees, were also investigated. Based on the survey findings from nine companies and 127 of their franchisee owner‐managers, provides prognostic and diagnostic frameworks to assist both franchisers and franchisees in their selection of a suitable business partner and in specifying appropriate remedial action in marginal franchised outlets.
Leaving home in Spain: When, where and why?

Holdsworth C. , Voas D. and Tranmer M. (2002) Leaving home in Spain: when, where and why? , Reg. Studies 36, 989–1004. Spanish transitions out of the parental home are characterized by older ages of leaving and a close association between leaving home and partnership formation, compared to countries in northern Europe. Yet throughout Spain we find important regional variation in the intensity and timing of leaving home. This paper provides new insights into the causes of this regional diversity, focusing on both economic and cultural dimensions. The analyses are based on multilevel models that control for individual and provincial characteristics. Economic factors play a vital role at the individual level, yet are less important at the provincial level. Regional variation is more closely associated with the impact of both the timing of partnership formation and the relationship between leaving home and getting married. These distinctive regional patterns of leaving home and partnership formation are discussed with reference to historical traditions of family and household formation.
Passive Hedge Fund Replication – Beyond the Linear Case

In this paper we extend Hasanhodzic and Lo (2007) by assessing the out-of-sample performance of various non-linear and conditional hedge fund replication models. We find that going beyond the linear case does not necessarily enhance the replication power. On the other hand, we find that selecting factors on the basis on an economic analysis allows for a substantial improvement in out-of-sample replication quality, whatever the underlying form of the factor model. Overall, we confirm the findings in Hasanhodzic and Lo (2007)that the performance of the replicating strategies is systematically inferior to that of the actual hedge funds.
Paranucleospora theridion n. gen., n. sp. (Microsporidia, Enterocytozoonidae) with a Life Cycle in the Salmon Louse (Lepeophtheirus salmonis, Copepoda) and Atlantic Salmon (Salmo salar)

ABSTRACT. Paranucleospora theridion n. gen, n. sp. , infecting both Atlantic salmon (Salmo salar) and its copepod parasite Lepeophtheirus salmonis is described. The microsporidian exhibits nuclei in diplokaryotic arrangement during all known life‐cycle stages in salmon, but only in the merogonal stages and early sporogonal stage in salmon lice. All developmental stages of P. theridion are in direct contact with the host cell cytoplasm or nucleoplasm. In salmon, two developmental cycles were observed, producing spores in the cytoplasm of phagocytes or epidermal cells (Cycle‐I) and in the nuclei of epidermal cells (Cycle‐II), respectively. Cycle‐I spores are small and thin walled with a short polar tube, and are believed to be autoinfective. The larger oval intranuclear Cycle‐II spores have a thick endospore and a longer polar tube, and are probably responsible for transmission from salmon to L. salmonis. Parasite development in the salmon louse occurs in several different cell types that may be extremely hypertrophied due to P. theridion proliferation. Diplokaryotic merogony precedes monokaryotic sporogony. The rounded spores produced are comparable to the intranuclear spores in the salmon in most aspects, and likely transmit the infection to salmon. Phylogenetic analysis of P. theridion partial rDNA sequences place the parasite in a position between Nucleospora salmonis and Enterocytozoon bieneusi. Based on characteristics of the morphology, unique development involving a vertebrate fish as well as a crustacean ectoparasite host, and the results of the phylogenetic analyses it is suggested that P. theridion should be given status as a new species in a new genus.
Inhibitory Effects of Glibenclamide on the Contraction of Human Arterial Conduits used in Coronary Artery Bypass Surgery

Glibenclamide has been shown to inhibit prostanoid‐induced contraction in a number of blood vessel types. In this study, the effects of glibenclamide on the contraction of human peripheral arteries in response to both prostanoid and non‐prostanoid agonists were compared and possible mechanisms of action were investigated.
Tourism in the East African Community (EAC): Challenges, opportunities, and ways forward

The Economic Road Map and Visions of the East African Community member states (Kenya, Tanzania, Uganda, Rwanda, and Burundi) view tourism development not only as a key pillar for national development, but most importantly as a mechanism to alleviate poverty, generate foreign revenue for the government, and contribute to wildlife conservation. With exception of Kenya and Tanzania, which also have a well-developed coastal tourism segment, the remaining East African Community countries are landlocked, with nature and wildlife remaining as the only core tourism assets. Yet, their Economic Road Map and Visions foresee tourism as a key contributor to transforming their economies in the years to come. While this sounds like a honorable aspiration, most tourism revenues have been generated through narrow tourism products, such as wildlife and national parks, based on a few species (i.e. the big five and the mountain gorillas). Other challenges affecting the potential for tourism to flourish include political stability and governance, infrastructure development, service standards, and human capacity just to name a few. In this paper, drawing upon literature and previous research experiences of the authors, an overview on the state of tourism in the East African Community is presented with the aim to assess the main challenges, opportunities, and offer some reflections on possible ways forward for tourism development in the region.
Investor Sentiment and Return Comovements: Evidence from Stock Splits and Headquarters Changes

We examine whether the trading activities of retail and institutional investors cause comovements in stock returns. Around stock splits, retail trading correlations (RTCs) decrease with stocks in the presplit price range and increase with stocks in the post-split price range. These shifts in RTCs induce changes in return comovements. In the cross section, return comovements among low-priced stocks are amplified when retail trades are more correlated and when aggregate uncertainty amplifies behavioral biases. We find similar patterns among local stocks and when firms change their corporate headquarters. In contrast to retail trading, institutional trading attenuates return comovements. Copyright 2013, Oxford University Press.
Trends of e-Government research : contextualization and research opportunities

E-Government is a broad research field in which researchers are currently involved in a range of different research projects. Our purpose in this paper is to assist researchers in the development and direction of future analyses, identifying trends in terms of research and the methodology used. Universities and departments that make the main scientific contributions are identified, in order to locate and contextualize the research carried out into e-Government and to enhance intercommunication among researchers and thus knowledge in this field. To achieve this goal, we examined periodical publications listed in the Social Science Citation Index (SSCI) of the Institute for Scientific Information (ISI) in the fields of Public Administration and Information Science, during the period 2000-2009. Knowledge gaps and research opportunities have been derived, highlighting the need to use quantitative methodologies and to identify key factors to promote a theoretical framework to enhance the efficient implementation of e-Government, as well as identification the main universities where the researchers can complete their doctoral academic training.
Terra Firma‐Forme Dermatosis: A Retrospective Review of 31 Patients

Abstract: Terra firma‐forme dermatosis is an idiopathic condition characterized by acquired, dirtlike plaques despite normal hygiene. A diagnosis can be reached by removing lesions with gentle alcohol swabbing. Although Terra firma‐forme dermatosis was first described more than 20 years ago and is thought to be not uncommon in clinical practice, it has never been systematically studied. There are few publications about this condition, including no case series of more than six patients. In particular, little is known about the incidence, peak age groups, and most common locations of Terra firma‐forme dermatosis. A retrospective review was conducted to identify cases of Terra firma‐forme dermatosis in a single‐provider practice consisting of 55% pediatric and 45% adult patients. Thirty‐one patients with Terra firma‐forme dermatosis were identified, including 10 who presented with Terra firma‐forme dermatosis as their primary concern. Only two patients were older than 17 years. The median duration of lesions was 4 months. The most common lesion locations were the neck, ankles, and face. Before presenting to the dermatology clinic, three patients had undergone endocrine evaluations, and four had been prescribed topical corticosteroids. Terra firma‐forme dermatosis is relatively common and most often occurs in children on the neck or posterior malleolus. This series exemplifies the importance of recognizing Terra firma‐forme dermatosis so as to provide rapid relief for patients and avoid unnecessary tests and treatments.
Deep learning based frameworks for image super-resolution and noise-resilient super-resolution

Our paper is motivated from the advancement in deep learning algorithms for various computer vision problems. We are proposing a novel end-to-end deep learning based framework for image super-resolution. This framework simultaneously calculates the convolutional features of low-resolution (LR) and high-resolution (HR) image patches and learns the non-linear function that maps these convolutional features of LR image patches to their corresponding HR image patches convolutional features. Here, proposed deep learning based image super-resolution architecture is termed as coupled deep convolutional auto-encoder (CDCA) which provides state-of-the-art results. Super-resolution of a noisy/distorted LR images results in noisy/distorted HR images, as super-resolution process gives rise to spatial correlation in the noise, and further, it cannot be de-noised successfully. Traditional noise resilient image super-resolution methods utilize a de-noising algorithm prior to super-resolution but de-noising process gives rise to loss of some high-frequency information (edges and texture details) and super-resolution of the resultant image provides HR image with missing edges and texture information. We are also proposing a novel end-to-end deep learning based framework to obtain noise resilient image super-resolution. Proposed end-to-end deep learning based framework for noise resilient super-resolution simultaneously perform image de-noising and super-resolution as well as preserves textural details. First, stacked sparse de-noising auto-encoder (SSDA) was learned for LR image de-noising and proposed CDCA was learned for image superresolution. Then, both image de-noising and super-resolution networks were cascaded. This cascaded deep learning network was employed as one integral network where pre-trained weights were serving as initial weights. The integral network was end-to-end trained or fine-tuned on a database having noisy, LR image as an input and target as an HR image. In fine-tuning, all layers of the combined end-to-end network was jointly optimized to perform image de-noising and super-resolution simultaneously. Experimental results show that proposed noise resilient super-resolution framework outperforms the conventional and state-of-the-art approaches in terms of PSNR and SSIM metrics.
Applying Co‐Occurrence Text Analysis with ALCESTE to Studies of Impression Management

This paper reviews the potential role of co-occurrence text analysis using ALCESTE, a computerized text analysis program. Using an illustrative case study from the biometric industry, we demonstrate that this method offers a number of advantageous features, including the provision of visual outputs which are useful for interpreting results, the ability to study longitudinally the effectiveness of impression management at the inter-organizational level of analysis and the possibility of studying large textual data sets without using predefined dictionaries. Meanwhile, key limitations of the method include its limited versatility, its tedious data-cleaning process and its ineffectiveness in identifying the centrality or tonality of the discourse. Our overall conclusion is that the introduction and more widespread use of this method in management is timely, particularly for scholars interested in studying narrative fidelity and frame amplification.
Microbial Communities of Deep-Sea Methane Seeps at Hikurangi Continental Margin (New Zealand)

The methane-emitting cold seeps of Hikurangi margin (New Zealand) are among the few deep-sea chemosynthetic ecosystems of the Southern Hemisphere known to date. Here we compared the biogeochemistry and microbial communities of a variety of Hikurangi cold seep ecosystems. These included highly reduced seep habitats dominated by bacterial mats, partially oxidized habitats populated by heterotrophic ampharetid polychaetes and deeply oxidized habitats dominated by chemosynthetic frenulate tubeworms. The ampharetid habitats were characterized by a thick oxic sediment layer that hosted a diverse and biomass-rich community of aerobic methanotrophic Gammaproteobacteria. These bacteria consumed up to 25% of the emanating methane and clustered within three deep-branching groups named Marine Methylotrophic Group (MMG) 1-3. MMG1 and MMG2 methylotrophs belong to the order Methylococcales, whereas MMG3 methylotrophs are related to the Methylophaga . Organisms of the groups MMG1 and MMG3 are close relatives of chemosynthetic endosymbionts of marine invertebrates. The anoxic sediment layers of all investigated seeps were dominated by anaerobic methanotrophic archaea (ANME) of the ANME-2 clade and sulfate-reducing Deltaproteobacteria. Microbial community analysis using Automated Ribosomal Intergenic Spacer Analysis (ARISA) showed that the different seep habitats hosted distinct microbial communities, which were strongly influenced by the seep-associated fauna and the geographic location. Despite outstanding features of Hikurangi seep communities, the organisms responsible for key ecosystem functions were similar to those found at seeps worldwide. This suggests that similar types of biogeochemical settings select for similar community composition regardless of geographic distance. Because ampharetid polychaetes are widespread at cold seeps the role of aerobic methanotrophy may have been underestimated in seafloor methane budgets.