Miracle-dz/UniFAR-FTUs huggingface dataset:
Risk and Return: Consumption Versus Market Beta

The interaction between the macroeconomy and asset markets is central to a variety of modern theories of the business cycle. Much recentwork emphasizes the joint nature of the consumption decision and the portfolio allocation decision. In this paper, we compare two formulations of the Capital Asset Pricing Model. The traditional CAPM suggests that the appropriate measure of an asset's risk is the covariance of the asset's return with the market return. The consumption CAPM, on the other hand, implies that a better measure of risk is the covariance with aggregate consumption growth. We examine a cross section of 464 stocks and find that the beta measured with respect to a stock market index outperforms the beta measured with respect to consumption growth.
THE CORPORATE REPORT AND THE PRIVATE SHAREHOLDER: LEE AND TWEEDIE TWENTY YEARS ON

Abstract The corporate annual report is seen as an important device for communication between management and shareholders (and others). Research by Lee and Tweedie during the 1970s produced evidence to suggest that many parts of the corporate annual report were neither well read nor well understood by private shareholders. Since then much has been done to change the face of corporate reporting, e.g. the introduction of a cash flow statement, a statement of recognized gains and losses and an operating and financial review. In addition, following the Cadbury Report recommendations, there are statements of responsibilities of directors and auditors. The auditors» report is now considerably longer than before following the publication of SAS 600. Providing shareholders with more information involves substantial costs but it might be argued that this has been worthwhile if it has improved the readership and understanding of the annual report. This paper reports the findings of a study into private shareholder readership of the corporate report of one company. It seeks, through a partial replication of the Lee and Tweedie studies, to determine the extent to which the modern annual report is read by shareholders, and to see whether the new forms of financial statements in particular are read. The results of this study reveal that, from the point of view of the private shareholder, little has changed over the past 20 years, despite the efforts of the accounting profession and the corporate community to improve communication between management and shareholders.
A nonlinear simplex search approach for multi-objective optimization

This paper proposes an algorithm for dealing with nonlinear and unconstrained multi-objective optimization problems (MOPs). The proposed algorithm adopts a nonlinear simplex search scheme in order to obtain multiple approximations of the Pareto optimal set. The search is directed by a well-distributed set of weighted vectors. Each weighted vector defines a scalarization problem which is solved by deforming a simplex according to the movements described by Nelder and Mead's method. The simplex is constructed with a set of solutions which minimize different scalarization problems defined by a set of neighbor weighted vectors. The solutions found in the search are used to update a set of solutions considered to be the minima for each separate problem. In this way, the proposed algorithm collectively obtains multiple trade-offs among the different conflicting objectives, while maintaining a well distributed set of solutions along the Pareto front. The main aim of this work is to show that a well-designed strategy using just mathematical programming techniques can be competitive with respect to a state-of-the-art multi-objective evolutionary algorithm.
An analysis of current human resource management publications

Human resource articles published in the top human resource management (HRM) journals from 1994 through 2001 are analyzed by topic, research technique, level of analysis, and data source. The results are aggregated and summarized to address the current state of affairs in human resource management research. Moreover, these data are used to examine what is not being addressed in the field at the current time. Results point to a lack of focus on methods, diversity, and technology, and the decline of the once‐popular absenteeism and turnover streams of research. Also lacking is variance in research methodologies, with empirical analyses, specifically regression, being the most frequently employed methodology. The article concludes with suggestions for future HRM research.
*Informative Advertising: Competition or Cooperation?

In a duopoly version of the Grossman and Shapiro [1984] model of informative advertising, I examine firms' incentives to semicollude on advertising and the welfare implications thereof. I find that, relative to the noncooperative outcome, semicollusion on advertising is more profitable but is detrimental to welfare. I also find that when the advertising cost is ‘low,’ advertising semicollusion is more harmful to welfare than price semicollusion. These findings are important for competition policy since traditionally, cooperative advertising is not treated in the same light as price collusion.
Motivational factors influencing women’s decisions to pursue upper-level administrative positions in higher education

Much of the research on women advancing in higher education has been focused on the external barriers and how to break down the barriers. Initiatives and programs have been implemented, but the number of women in upper-level administrative positions in higher education, although increasing, is not increasing in proportion to women’s overall numbers in education and the work force. The structure and processes at work in a particular situation can change more readily than changing people’s behaviors directly. With this in mind, the purpose of this study was to take a positive approach by looking to women who have reached the upper-level administrative arena and investigate what influential factors were responsible for motivating them to this achievement. This qualitative multi-case study used the elements of Bandura’s Model of Reciprocal Determination, specifically self-efficacy, personal behavior, and environmental factors to determine the factors motivating women to upper-level administrative positions. Eighteen women who have reached the upper-level administrative positions (e.g., provost, vice-president or vice-provost) at land-grant universities were interviewed. The themes of this study suggest that support groups and individual mentors were important motivating factors because these groups and individuals encouraged, coached, and supported women administrators on their decisions to enter higher education and then as they pursued upper-level administrative positions. In addition, women felt successful when they were able to be the nurturers, assisting and influencing others to succeed. Also, the women administrators recognized the need for knowledge, skills, and experience to assist in their career advancement. Furthermore, they emphasized developing and evaluating personal values, and ensured their personal values fit with institutional values. At the same time, women administrators stressed the value of time and the choices they made to balance time between work and family and between work and personal time. Recommendations to implement initiatives to promote and support the motivational factors identified in this study are discussed. MOTIVATIONAL FACTORS INFLUENCING WOMEN’S DECISIONS TO PURSUE UPPER-LEVEL ADMINISTRATIVE POSITIONS IN HIGHER EDUCATION
Residential water demand under block rates : a Portuguese case study

A residential water demand equation is estimated using a panel data sample of 5 Portuguese local communities and 72 months, corresponding to a total number of 360 observations. Because of the presence of multi-part tariffs, we use as explanatory variables the two common price-related variables: marginal price and difference. To prevent the simultaneity bias from using observed quantities to determine the values of marginal price and difference directly from the rate schedule, we use an instrumental variable approach to create a constant marginal price and difference parameters for each rate structure. The price elasticity value obtained fall within the range of those found in other case studies. Thus, although presenting weak elasticity, price seems to play a role in water demand management. However, we do not confirm the expected influence of difference on residential water demand. This can be a consequence of the complexity of the Portuguese water tariffs and the confusing signs that come from the simultaneous use of fixed quotas and increasing block tariffs. So, it is imperative to clarify water tariffs objectives by reviewing the Portuguese water tariffs design processes.
Factor Investing: Long-Only versus Long-Short

Various studies recommend investing in factor premiums beyond the classic market risk premium, such as the small-cap, value, momentum, and low-volatility premiums. It is unclear, however, if factor investing can best be implemented using a long-only or a long-short approach. We empirically compare both approaches and find that although a long-short approach is superior theoretically, a long-only approach seems to be the preferred alternative in most scenarios, after accounting for practical issues such as benchmark restrictions, implementation costs and factor decay. In fact, we show that costs and decay may completely offset the value added of a long-short implementation. We conclude that investors should carefully consider the pros and cons of long-only and long-short approaches when implementing factor investing. The framework described in this paper is intended to help investors make that decision.
LOGIT DEMAND SUPPLY CHAIN NETWORK EQUILIBRIUM PROBLEM

Supply chain networks represent economic entities in tiers such as manufacturers, distributors and demand markets. To study how the market share among the commodities is determined under the assumption of profit maximization, we formulate the supply chain network equilibrium problem with logit demand functions using the variational inequality approach. A nested diagonalization method, along with the specially designed supernetwork representation, is then proposed for the solution. The test example shows that the obtained results comply with the generalized Wardrop second principle in that: the market share of the two commodities is determined according to the binary logit formula and for each origindestination pair, the same commodity at the destination is charged with the same price no matter which transport route is used. In addition, a sensitivity analysis shows that the larger of price difference of the two commodities, the more deviation of their market share, which is consistent with our intuition.
Risk of menopause during the first year after breast cancer diagnosis.

PURPOSE Premenopausal women with breast cancer often enter a premature menopause during initial treatment of their malignancy, with resulting loss of childbearing capacity, onset of menopausal symptoms, and subsequent prolonged exposure to long-term risks of menopause. Adjuvant therapy is believed to contribute to this early menopause. PATIENTS AND METHODS One hundred eighty-three premenopausal women with locoregional breast cancer (tumor-node-metastasis staging system classification, T1-3 N0-1 M0) who had undergone surgical treatment and provided information on menopausal status at diagnosis and 1 year later were enrolled. Systemic adjuvant therapy was recorded. Univariate and multivariate predictors of menopause were examined. RESULTS Age, weight gain, tumor stage, nodal stage, and systemic adjuvant therapy (chemotherapy, tamoxifen) were all significant univariate correlates of menopause. In multivariate analysis, age, chemotherapy, and hormone therapy (tamoxifen) made significant independent contributions to the onset of menopause. CONCLUSION Age and systemic chemotherapy are the strongest predictors of menopause in women with locoregional breast cancer. They independently contribute to menopause. A graphic representation of our multivariate model allows an estimation of risk of menopause according to patient age and planned adjuvant treatment, and it may facilitate clinical decision-making.
Coupling Techniques for Nonlinear Hyperbolic Equations. III. The Well-Balanced Approximation of Thick Interfaces

We continue our analysis of the coupling between nonlinear hyperbolic problems across possibly resonant interfaces. In the first two parts of this series, we introduced a new framework for coupling problems which is based on the so-called thin interface model and uses an augmented formulation and an additional unknown for the interface location; this framework has the advantage of avoiding any explicit modeling of the interface structure. In the present paper, we pursue our investigation of the augmented formulation and we introduce a new coupling framework which is now based on the so-called thick interface model. For scalar nonlinear hyperbolic equations in one space variable, we observe that the Cauchy problem is well-posed. Then, our main achievement in the present paper is the design of a new well-balanced finite volume scheme which is adapted to the thick interface model, together with a proof of its convergence toward the unique entropy solution (for a broad class of nonlinear hyperbolic equations).
An update on the use of antipsychotics in the treatment of delirium

ABSTRACT Objective: Delirium is the most common neuropsychiatric complication of medical illness, a medical emergency that needs to be identified and treated vigorously. Delirium is too frequently underdiagnosed and untreated in the medical setting, which leads to increased morbidity and mortality, interference in the management of symptoms such as pain, an increased length of hospitalization, increased health care costs, and distress for patients and their caregivers (Inouye, 2006; Breitbart et al., 2002a, 2002b). In this article, we present an update of the use of antipsychotics in management of delirium based on the available literature and our own clinical experience. Methods: We reviewed the current literature on the role of antipsychotics in the management of delirium using standard computer-based search methods (e.g., PubMed). Results: Antipsychotic medications, including the new atypical antipsychotics, have been demonstrated to effectively manage a wide spectrum of the symptoms of delirium and are an essential component in the multimodal approach to managing delirium. Significance of results: The standard approach to managing delirium includes identification and elimination of factors contributing to the delirium in addition to pharmacological and nonpharmacological treatment interventions (Trzepacz et al., 1999). Newer atypical antipsychotics can play an important role in the management of the symptoms of delirium.
The Process of Changing Health Risk Behaviors: An Oregon Rural Clinic Experience

Purpose A counseling intervention was conducted by nurse practitioners (NPs) at a rural clinic in Oregon. The intervention was designed to help individuals change health risk behaviors. Three focus groups were conducted to aid in understanding the barriers to changing health behaviors and to identify resources that rural individuals needed to succeed in behavior change. Data Sources Quantitative data were collected using appraisal forms that were specific to five behaviors. Qualitative data were from written comments submitted by focus group participants in answer to questions sent prior to each meeting and from written summaries of focus group meetings submitted by the focus group leader. Conclusions Most participants were not successful in changing their health behaviors. The issues raised in the focus group discussions provide an overview of the barriers to health behavior change as perceived by a group of adults in a rural environment. Both individual lack of will and the rural community environment were barriers to adopting new health behaviors. Implications for Practice NPs in rural health care clinics could provide important support for individuals attempting to adopt new health behaviors. Specific suggestions from focus group participants included discussing risky behaviors more often, forming support groups that do not charge a fee, and developing a peer‐mentoring program.
Seven Practices of Successful Organizations

In this excerpt from his recently published book, The Human Equation: Building Profits by Putting People First, the author argues that many managers continue to overlook the extent to which the more effective management of people can improve firm economic performance. Firms that seek to produce enhanced economic performance through the management their human capital have adopted a number of common personnel practices. These include the provision of employment security, the selective hiring of new personnel, decentralized decision making, high compensation contingent on organizational performance, extensive training, minimal status distinctions and barriers, and the extensive sharing of financial and performance information throughout the firm.
Immigration, social change and assimilation: Educational attainment among birth cohorts of Jewish ethnic groups in Israel, 1925-29 to 1965-69

We consider changes in ethnic gaps among Jewish Israelis in a variety of measures of educational attainment over three generations, forty years of birth cohorts, and in three broad ethnic groups. We document the educational attainments of huge waves of immigrants and their descendants, beginning with those born before the foundation of the State, and ending with those whose members are now entering higher education. In addition, we examine ethnic gaps while controlling for important determinants of educational attainment, such as indicators of parents' and community-level socio-economic status. We show that gaps in education across ethnic groups were quite large initially. We also document significant reductions in these gaps over successive cohorts and generations. We note that ethnic convergence at the primary and secondary school levels occurred between the first-generation and second-generation immigrants, while convergence at the matriculation and post-secondary levels proceeds during the third generation. The Authors ask that it be noted that table 2 which appears in this article was published in error and that the correct table was subsequently published in Volume 58, Number 21/2004 Pages: 125 - 126
The Pricing of Exchange Rate Risk in the Stock Market

Abstract This paper examines the pricing of exchange rate risk in the U.S. stock market, using two factor and multi-factor arbitrage pricing models. Evidence is presented that the relation between stock returns and the value of the dollar differs systematically across industries. The empirical results, however, do not suggest that exchange risk is priced in the stock market. The unconditional risk premium attached to foreign currency exposure appears to be small and never significant. As a result, active hedging policies by financial managers cannot affect the cost of capital, and other reasons must explain why firms decide to hedge.
Spike Timing Regulation on the Millisecond Scale by Distributed Synaptic Plasticity at the Cerebellum Input Stage: A Simulation Study

The way long-term synaptic plasticity regulates neuronal spike patterns is not completely understood. This issue is especially relevant for the cerebellum, which is endowed with several forms of long-term synaptic plasticity and has been predicted to operate as a timing and a learning machine. Here we have used a computational model to simulate the impact of multiple distributed synaptic weights in the cerebellar granular-layer network. In response to mossy fiber (MF) bursts, synaptic weights at multiple connections played a crucial role to regulate spike number and positioning in granule cells. The weight at MF to granule cell synapses regulated the delay of the first spike and the weight at MF and parallel fiber to Golgi cell synapses regulated the duration of the time-window during which the first-spike could be emitted. Moreover, the weights of synapses controlling Golgi cell activation regulated the intensity of granule cell inhibition and therefore the number of spikes that could be emitted. First-spike timing was regulated with millisecond precision and the number of spikes ranged from zero to three. Interestingly, different combinations of synaptic weights optimized either first-spike timing precision or spike number, efficiently controlling transmission and filtering properties. These results predict that distributed synaptic plasticity regulates the emission of quasi-digital spike patterns on the millisecond time-scale and allows the cerebellar granular layer to flexibly control burst transmission along the MF pathway.
Demonstration of a pallido‐nigral projection innervating dopaminergic neurons

Afferents to the substantia nigra from the neostriatum and globus pallidus were studied in the rat by means of the autoradiographic tracing technique. 3H‐leucine was injected stereotaxically into either the globus pallidus or neostriatum. Twenty‐four hours later the axoplasmic transport of labelled proteins to the substantia nigra was studied by light and electron microscopic autoradiography. In animals used for electron microscopy, degeneration of dopaminergic cells in the substantia nigra was induced by intraventricular injection of 6‐hydroxydopamine 72 hours before sacrifice.
‘We teach reading this way because it is the model we’ve adopted’: asymmetries in language and literacy policies in a Two‐Way Immersion programme

In the USA there has been widespread growth in Two‐Way Immersion (TWI) programmes in all states, including those who have outlawed bilingual education. The model offers language majority students the opportunity to become bilingual alongside their language minority peers. Research has shown TWI programmes to be the most equitable and effective for teaching both native English speakers and linguistically subjugated populations. A central goal is that all students become proficient in oral and written communication of two languages. In this mixed methods study of a TWI programme in Texas, official discourse and policies reflected social justice and equitable language and literacy goals for students. However, there was marked incongruence between the interpretation and enactment of policies. There were asymmetrical language and literacy outcomes as the strict observance of programmatic goals constrained the English language and literacy development of Spanish‐dominant students but did not constrain the Spanish language and literacy development of English‐dominant peers. As a result, Spanish‐dominant students and their families became disillusioned and questioned their participation in the TWI programme. Findings suggest that educators must examine literacy ideologies in policies and practice and be reflexive in regards to the local implementation of policy, particularly in meeting the language and literacy needs of students from linguistically subjugated communities.