Miracle-dz/UniFAR-FTUs huggingface dataset:
Investment Banking: An Economic Analysis of Optimal Underwriting Contracts

In the corporate finance literature on long-term external financing, thorough discussions are devoted to the analysis of the various characteristics of securities issues. Such topics as the coupon rate, maturity, conversion properties, subscription price and pricing are analyzed extensively. Little analytical attention has been given to the problem of new securities floatations. Several studies have discussed underwriters' behavior. West [20], Ederington [6] and Logue and Lindvall [12] have analyzed underwriter's compensation as a function of various characteristics of the underwriter and the new issue offered. Those analyses have completely ignored the other, and maybe the more important side of the transaction, namely, the issuing firm. In particular, no attention has been given to the following questions: Given the fact that the firm seeks underwriting arrangements, what is the "best" contract between the issuing firm and the underwriter? How do different characteristics of the issuing firm, the underwriter, and the security to be floated, shape the form of the contract? This is surprising, in view of the fact that every corporation and government agency seeking to raise funds in the capital markets is confronted with these decisions. These decisions are of major importance since underwriter's compensation for bearing the risk of an unsuccessful offering constitute a significant cost to the issuing firm (see, for example, Keir and Kichline [8], Waterman
State Legislative Influence over Agency Rulemaking: The Utility of Ex Ante Review

Scholars have argued that legislatures can use administrative procedures to constrain bureaucratic discretion and maintain policy control when delegating authority. One such mechanism is the formal authority to review agency rule proposals. We find that legislatures with stronger formal authority to review rules ex ante are viewed by agency heads as more influential in their rulemaking decisions, but this power is mitigated when such review is checked by the governor. Our analysis demonstrates the impact of institutional arrangements on general state legislative influence over policy implementation. Understanding this element of legislative control over state bureaucracies helps explain variations in state-level policymaking. The General Assembly finds that it must provide a procedure for oversight and review of regulations adopted pursuant to [the] delegation of legislative power to curtail excessive regulation and to establish a system of accountability so that the bureaucracy must justify its use of the regulatory authority before imposing hidden costs upon the economy of Pennsylvania. Regulatory Review Act of 1982 Pennsylvania General Assembly
After the Ink Dries: The Interaction of Trust and Control in US-Based International Joint Ventures

This study empirically examines the moderating effects of age and partner trust on the relationship between control mechanisms and perceptions of performance in 129 US-based international joint ventures (IJVs). A reliance on formal control mechanisms and general managers' perceptions of IJV performance were found to be positively related in younger IJVs, but this relationship became negative in more mature IJVs. In addition, social control mechanisms and perceptions of IJV performance were positively related, but only in the presence of affect-based trust between the parents.
Wage Expectations: A Comparison of Swiss and US Students

Wage expectations can play a significant role in a variety of economic areas. This study analyzes the wage expectations of students who are on the verge of making a decision concerning their educational path or who have already reached such a decision. Since each student in our study has been asked to discuss expectations in relation to various educational scenarios, this data can be used to check certain human capital theory assumptions. It is possible to ascertain the wage effects which students expect from certain educational decisions. Moreover it is possible to assess the expected rates of return on education without asking the students directly. The results of this study make it clear that both in the USA and in Switzerland the wage expectations of students do not differ significantly from the cross-sectional labor market data, despite considerable heterogeneity in some cases.
Urinary-Based Ovulation and Pregnancy: Point-of-Care Testing

OBJECTIVE To review the literature concerning ovulation prediction devices and pregnancy detection tests for home use. DATA SOURCES Articles were identified through searches of the MEDLINE (1966–May 2003), EMBASE (1980–May 2003), and International Pharmaceutical Abstracts (1970–May 2003) databases using the key words ovulation, ovulation detection, pregnancy test, diagnostic reagent kit, and diagnostic test. Additional references were located through review of the bibliographies of the articles found in the literature search. Searches were not limited by time restriction, language, or use of human or animal subjects. STUDY SELECTION AND DATA EXTRACTION Review articles, textbook chapters, and experimental and observational studies on home use ovulation and pregnancy tests were selected. DATA SYNTHESIS Luteinizing hormone (LH)-based ovulation tests have demonstrated accurate and superior ovulation detection when compared to basal body temperature charting, calendar calculation, salivary ferning, or observation of vaginal or cervical discharge changes. Systems using LH and estrone-3-glucuronide (E3G) have also demonstrated accurate detection of the fertile period. Literature evaluating home use of pregnancy tests has demonstrated accurate use by lay persons. CONCLUSIONS Urinary-based ovulation prediction and pregnancy detection tests available for use by nonprofessionals enable women and couples to take an active role in the family planning process. Numerous products are available at reasonable costs to the consumer.
The efficiency of smallholder agriculture in South Africa

This study applies data envelopment analysis (DEA) to 1990-91 maize production data for small-holders in the Northern Transvaal homelands of KaNgwane, Lebowa and Venda. There are extremely large differences in efficiency, both between farms and between regions. Within regions, the poorest farms are less than 10 per cent efficient and comparing the homelands shows Venda to be far less productive. Decomposing the efficiency estimates shows that farm size and technical efficiency each explain about half of the total differences. Land is the most serious constraint on output, fertilizer the least binding constraint and the FSP strategy of supplying modern seeds is economically efficient.
Worldwide synchronization since the nineteenth century: a wavelet-based view

Resorting to wavelet analysis, a novel measure is used to assess synchronization of economic activity across a large set of countries. As it has long been acknowledged in the literature that synchronization can vary over time and may depend on the type of fluctuation, the use of a wavelet-based measure of synchronization becomes particularly useful as it can capture both time and frequency varying features within a unified framework. Considering the period since 1870s up to 2011 for a set of 23 countries, it is found that worldwide synchronization has increased over the last decades and it has attained an unprecedented level during the Great Recession.
Social Security, Intergenerational Transfers, and Endogenous Growth

In this paper, the effects of social security in a simple model of endogenous growth with alternative motives of having children are analyzed. It shows how the effects of social security depend on the size of the social security tax, the motive to have children, and the pattern of intergenerational transfers. The pattern of intergenerational transfers itself, however, is shown to change with the social security tax rate. When the social security tax is not too high, social security increases per capita income growth and tends to enhance welfare.
Wide local excision as the sole primary treatment in elderly patients with carcinoma of the breast

Clinically localized carcinoma of the breast in 96 women was treated by wide local excision alone. The locoregional recurrence rate was 35 per cent at a mean follow‐up of 47 months. There was no significant effect of recurrence on survival because of the relatively high mortality rate from unrelated conditions in these mainly elderly patients. Recurrence was successfully managed with tamoxifen in the majority of cases, with few patients requiring radiotherapy or further surgery. Recurrence in the breast was associated with significantly less systemic disease and mortality than recurrence in the axilla.
Low-Avidity Antibodies to Carbonic Anhydrase-I and -II in Autoimmune Chronic Pancreatitise

Antibodies (Abs) to carbonic anhydrase (isoforms CA-I and CA-II) have been considered pathogenic factors in the development of autoimmune pancreatitis. Besides, such autoAbs might accelerate the pancreatic damage in alcoholic chronic pancreatitis (CP). The aim of the present study was to evaluate the presence of serum Abs to CA-I and CA-II in CP and the relative affinity of these Abs. Serum anti-CA-I and -CA-II Abs were measured in 89 patients with CP (48 alcoholic and 41 nonalcoholic) by an ELISA technique. The prevalence of those autoAbs in CP was compared with other autoimmune diseases where they have also been found. The presence of other serological manifestations of autoimmunity, such as hypergammaglobulinemia or antinuclear Abs, was determined in CP patients as well. Elevated serum levels of both anti-CA-I (24%) and -CA-II (18%) Abs were observed in CP, although their prevalence was lower than in autoimmune diseases like rheumatoid arthritis (44 and 25%, respectively) or systemic lupus erythematosus (39% for anti-CA-I Abs). Furthermore, these Abs were of low average avidity. On the other hand, a significantly higher proportion of nonalcoholic CP had anti-CA-II Abs with respect to alcoholic CP (15.2 vs. 2.4%, p < 0.05 Anti-CA-I and -CA-II Abs might be helpful in the diagnosis of autoimmune CP, and the detection of the latter Abs seems to discard alcoholic etiology. Although it does not discard any pathogenic role in autoimmune CP, the low-avidity of anti-CA Abs argues against such idea.
Financial Intermediation Versus Stock Markets in a Dynamic Intertemporal Model

We consider the transitions among intragenerational and alternative intergenerational financing and liquidity risk-sharing mechanisms, in an Overlapping Generations model with endogenous levels of long-lived investments. The existence and characterization of a Self-Sustaining Mechanism, stable across generations, are established. The long-run equilibrium outcome, in a Proposal Game across generations, is shown to depend on the risk-aversion and propensity for early liquidity needs of the agents.
An exploratory study of competencies required to co‐create memorable customer experiences in the hospitality industry

Purpose – The purpose of this paper is to identify and map competencies required by frontline employees to enhance guest experience in the hospitality industry, in the context of an emerging experience economy.Design/methodology/approach – Secondary research through extensive review of relevant literature in the area of experience economy and hospitality management.Findings – This study proposes a new construct of “Hospitality Intelligence” (HI) encompassing mainly Emotional Intelligence (comprising Interpersonal Intelligence and Intrapersonal Intelligence), Cultural Intelligence and Hospitality Experiential Intelligence dimensions.Practical implications – Practitioners and HR professionals in the field of hospitality would find the Hospitality Intelligence construct useful in recruiting and training frontline employees, while educationists could use the findings of this study in designing curricula and pedagogical interventions for developing the right skill set for the hospitality industry.Originality/v.
Evaluating environmental DNA‐based quantification of ranavirus infection in wood frog populations

A variety of challenges arise when monitoring wildlife populations for disease. Sampling tissues can be invasive to hosts, and obtaining sufficient sample sizes can be expensive and time‐consuming, particularly for rare species and when pathogen prevalence is low. Environmental DNA (eDNA)‐based detection of pathogens is an alternative approach to surveillance for aquatic communities that circumvents many of these issues. Ranaviruses are emerging pathogens of ectothermic vertebrates linked to die‐offs of amphibian populations. Detecting ranavirus infections is critical, but nonlethal methods have the above issues and are prone to false negatives. We report on the feasibility and effectiveness of eDNA‐based ranavirus detection in the field. We compared ranavirus titres in eDNA samples collected from pond water to titres in wood frog (Lithobates sylvaticus; n = 5) tadpoles in sites dominated by this one species (n = 20 pond visits). We examined whether ranavirus DNA can be detected in eDNA from pond water when infections are present in the pond and if viral titres detected in eDNA samples correlate with the prevalence or intensity of ranavirus infections in tadpoles. With three 250 mL water samples, we were able to detect the virus in all visits with infected larvae (0.92 diagnostic sensitivity). Also, we found a strong relationship between the viral eDNA titres and titres in larval tissues. eDNA titres increased prior to observed die‐offs and declined afterwards, and were two orders of magnitude higher in ponds with a die‐off. Our results suggest that eDNA is useful for detecting ranavirus infections in wildlife and aquaculture.
Who gains from workplace partnership?

The effects of partnership in the workplace on the stakeholders involved remains an area of considerable dispute in the literature. This article uses data collected in a survey of 3,500 employees in the Republic of Ireland to assess the effects of workplace partnership arrangements and practices on outcomes relevant to employers, employees and trade unions. The article also examines the manner in which workplace partnership affects stakeholder outcomes.
The impact of audit firm industry differentiation on IPO underpricing

Purpose – The purpose of this paper is to investigate the relationship between auditor industry differentiation (specialization) and the underpricing of initial public offerings (IPOs). The intention is to determine whether IPO firms – particularly those in the small firm segment of the market where information asymmetry is likely to be greatest – can benefit from significantly better IPO pricing by engaging the services of differentiated auditors.Design/methodology/approach – The paper examines a broad sample of initial public offerings made between 1991 and 2000. It also conducts univariate and multivariate tests to assess the relationship between IPO underpricing and auditor industry specialization.Findings – The paper finds that IPOs audited by Big 6 firms experience significantly less underpricing than IPOs audited by non‐Big 6 firms, particularly among small clients. It also finds an additional (and significantly larger) reduction in underpricing when the client engages an auditor that has establish.
Challenges in the deployment of LSS in the higher education sector: viewpoints from leading academics and practitioners

Purpose – Although Lean Six Sigma (LSS) has been widely accepted today by more than 70 per cent Fortune 500 companies, its applications in the public sector are not widely observed and reported due to a number of challenges. The purpose of this paper is to present some of the fundamental challenges in the deployment of LSS within the higher education (HE) context. Design/methodology/approach – The author uses primary data in the form of opinions or viewpoints from leading academics and parishioners around the world. The viewpoints were collected carefully to have a good balance between the leading academics and the LSS practitioners. Findings – The challenges of LSS implementation in HE can be classified into three categories: organisational, technical and individual challenges. Lack of visionary leadership for LSS journey from top management team in the HE sector makes the deployment a total failure. The difficulty of defining and measuring quality in a HE setting along with collecting relevant and accur.
INCOME AND THE HAMILTONIAN1

Among the many interpretations of real national income are (1) the return to national wealth and (2) the Hamiltonian of an appropriately-chosen dynamic model of the economy. These interpretations are sometiems alleged to be equivalent and to constitute the self-evidently ideal definition to which statistics of real national income should conform as closely as possible. , The allegation is correct on some very restrictive assumptions about technology and taste. Otherwise, these interpretations are inconsistent, inexpedient as definitions of real national income and significantly at variance with the usage in the national accounts. The return to wealth is unmeasurable with the currently-available data. The Hamiltonian is typically in the wrong units. It is an accurate reflection of neither productive capacity nor welfare in an intertemporal context. It is not well-defined in a tax-distorted economy. It is rarely an indicator of the return to wealth. Copyright 1994 by The International Association for Research in Income and Wealth.
Sealing effect of hydroxyapatite coating: A 12-month study in canines

This study addresses the clinical problems regarding access of wear debris to the bone-implant interface and the possible dissemination of polyethylene (PE) particles to distant organs. We inserted two implants into each knee of 7 dogs allowing access of joint fluid to the bone-implant interface with a 0.75 mm initial gap around the implant. Hydroxyapatite (HA)-coated and non-coated (Ti) titanium alloy implants were randomly allocated to each distal femoral condyle. PE particles were repeatedly injected into the right knee joint 3 weeks after surgery for a period of 49 weeks, while only vehicle was injected into the left knee joint. We found huge amounts of PE particles mainly in the bone-implant interface around Ti implants. Infiltration of mononuclear inflammatory cells was present around 3 of 7 Ti implants in relation to PE particles. HA implants had approximately 70% bone ongrowth. In contrast, no bone ongrowth was seen on any Ti implants, all being surrounded by a fibrous membrane. The number of PE particles was evaluated semi-quantitatively. More PE particles were found around Ti implants than with HA implants (p < 0.002). Specimens from iliac lymph nodes, liver, spleen and lung were examined and showed dissemination of PE particles only in regional lymph nodes.
A multicenter phase II trial of neoadjuvant letrozole plus low‐dose cyclophosphamide in postmenopausal patients with estrogen receptor‐positive breast cancer (JBCRG‐07): therapeutic efficacy and clinical implications of circulating endothelial cells

Neoadjuvant endocrine therapy has been reported to decrease tumor size, which leads to increased breast conservation rates. To improve the clinical response, metronomic chemotherapy with endocrine therapy is a promising strategy. A multicenter phase II single‐arm neoadjuvant trial with letrozole and cyclophosphamide was conducted. Eligibility criteria included postmenopausal status, T2–4 N0–1, and estrogen receptor‐positive breast carcinoma. Letrozole (2.5 mg) plus cyclophosphamide (50 mg) was given orally once a day for 24 weeks. The primary endpoint was the clinical response rate (CRR). To investigate anti‐angiogenic effects, circulating endothelial cells (CECs) were quantified using the CellSearch system. From October 2007 to March 2010, 41 patients were enrolled. The CRR was 67.5% (52.0–80.0%), which was above the prespecified threshold (65%). The conversion rate from total mastectomy to breast‐conserving surgery was 64% (18/28). Grade 3 or greater nonhematological toxicity was not reported. Clinical response was associated with improved disease‐free survival (DFS) (P = 0.020). The increase in CEC counts at 8 weeks was observed in nonresponders (P = 0.004) but not in responders. Patients with higher CEC counts at baseline or post‐treatment showed worse DFS than those with lower counts (P < 0.001 at baseline and = 0.014 post‐treatment). Multivariate analysis showed that post‐treatment CEC counts but not pretreatment counts were independently correlated with DFS (P = 0.046). In conclusion, neoadjuvant letrozole plus cyclophosphamide showed a good clinical response for postmenopausal patients with estrogen receptor‐positive breast cancer. CEC quantification is a promising tool for treatment monitoring and prognostic stratification for metronomic therapy following validation of our results in larger studies. Clinical trial registration number: UMIN000001331 Phase II study of neoadjuvant letrozole combined with low‐dose metronomic cyclophosphamide for postmenopausal women with endocrine‐responsive breast cancer (JBCRG‐07)
Landlords, fear, and children's respiratory health: an untold story of environmental injustice in the central city

Recent research has explored the role of environmental inequalities in explaining health disparities, especially in urban environments. This paper investigates the role of the landlord in shaping indoor environmental injustices. Specifically, we rely on interview data from low-income parents in South Phoenix, AZ, with elementary-aged children with asthma. We found families living in poor quality rental housing that impacted children's breathing. Landlords were directly involved in keeping the homes in poor condition, even when asked by the tenant to fix the property, and immigrants were especially at risk. In general, relationships between landlords and tenants were unequal and coloured by the tenant's poverty and fears of eviction. Among the immigrant tenants, many had accompanying fears of authorities and deportation. The cycle of fear, poverty, and a lack of power compounded as tenants were hesitant to report problems, which reinforced the power of the landlord over the tenant and did nothing to improve living conditions. Recognising the role of landlords in creating substandard housing conditions is important as they represent a group that can be targeted for interventions.
Hepatitis and Staging of Hepatic Damage in Pigs Naturally Infected with Porcine Circovirus Type 2

A total of 100 liver samples from pigs with postweaning multisystemic wasting syndrome (PMWS) were studied. All livers were evaluated microscopically and were staged based on the severity and localization of lesions. Presence of porcine circovirus type 2 (PCV-2) was evaluated using an in situ hybridization technique. Eighty-eight of 100 livers (88%) had a variable degree of lymphohistiocytic hepatitis, with apoptotic bodies, disorganization of hepatic plates, and/or perilobular fibrosis. Twelve pigs did not have microscopic liver lesions. Four stages of hepatic damage were established based on intensity and distribution of the lesions. Viral nucleic acid was detected in 70 of 100 livers (70%). Target cells for PCV-2 infection included Kupffer cells, hepatocytes, and inflammatory infiltrates. According to distribution of PCV-2 nucleic acid, four basic labeling patterns were identified. This study shows that liver damage is a frequent microscopic finding in cases of PMWS and hepatocytes are a target cell for PCV-2 infection and replication. Therefore, PCV-2 should be considered a new hepatitis-inducing viral agent in pigs.