Miracle-dz/UniFAR-FTUs huggingface dataset:
Fixed-Effects in Empirical Accounting Research

The fixed-effects specification is often used in panel datasets as a way of dealing with correlated omitted variables. A review of recent accounting publications reveals that while researchers are generally aware of the need to include fixed-effects in empirical models when using panel datasets (firm-time observations), many chose to replace firm fixed-effects with other form of fixed-effects, mainly industry fixed-effects. We examine the consequences of using different model specifications and show analytically and using simulations that replacing firm fixed or omitting them can lead to biased estimates and wrong inferences. To illustrate the importance of properly including firm fixed-effects, we reexamine commonly used regression models in the accounting literature. We show how inferences change when fixed-effects are properly included. Importantly, we identify circumstances where the fixed-effects specification is likely to fail and offer a full differencing model as an alternative specification.
Modeling of electricity load for forward contract pricing

The majority of the consumed electricity in Europe is currently traded as forward contracts and therefore reliable price forecasting is crucial for market players. Several pricing methods based on fundamental models are available. They require a load model, which captures the characteristics of the electricity consumption. We propose an hourly load model for fundamental modeling of forward contract pricing and the formulation of the Hourly Price Forward Curve. This model captures deterministic patterns such as yearly and weekly seasonality, intra-day patterns including holidays, temperature effects and economic trends. These pattern and trends can be estimated with computational efficiency via Maximum Likelihood Estimator.
Estimating von Bertalanffy parameters with individual and environmental variations in growth

Variation among individuals is an ubiquitous feature of natural populations. However, the relative roles of intrinsic individual differences and stochastic processes in generating variation remain poorly understood. For somatic growth, identifying the contribution of individual and stochastic processes to observed variation in size has important implications both for basic and applied biology. Here we propose and develop methods for estimating individual variation in growth using size-at-age data. We modify the von Bertalanffy growth model to explicitly incorporate individual, environmental, and stochastic variation and provide analytic expressions for the mean and variance of length-at-age in populations. We use a Bayesian statistical model to estimate individual variation from length-at-age data and apply the model to simulated data to test its efficacy. Although a first step towards understanding individual variation, we demonstrate that estimating individual variation from observational samples is possible and provide a platform for future analytical and statistical developments.
Sale Price, Marketing Time, and Limited Service Listings: The Influence of Home Value and Market Conditions

Local markets for real estate brokerage services typically exhibit fairly strict pricing. Increased popularity of limited service brokerages provides an opportunity to study any loss in utility by sellers using these firms. Anecdotal evidence suggests that sellers experience a decreased selling price or an increased marketing time when utilizing limited service brokers, but there has been little prior empirical work. This study finds that limited service listings sell for significantly more and spend significantly less time on the market than traditional listings. The price and marketing time impacts vary by home value and local market conditions.
Depth image lossless compression using mixtures of local predictors inside variability constrained regions

This paper studies the lossless compression of depth images realized by first transmitting contours of suitably chosen regions and subsequently performing predictive coding inside each region and transmitting the prediction residuals. For the large constant depth regions only the contour needs to be transmitted along with the value of the depth inside each region, while for the rest of the image we find suitable regions where the local variation of the depth level from one pixel to another is constrained above. The nonlinear predictors used for each region combine the results of several linear predictors, each fitting optimally a subset of pixels belonging to the local neighborhood. Overall the obtained results exceed by a wide margin the performance of standard image compression algorithms.
Oleuropein aglycone induces autophagy via the AMPK/mTOR signalling pathway: a mechanistic insight

The healthy effects of plant polyphenols, some of which characterize the so-called Mediterranean diet, have been shown to arise from epigenetic and biological modifications resulting, among others, in autophagy stimulation. Our previous work highlighted the beneficial effects of oleuropein aglycone (OLE), the main polyphenol found in the extra virgin olive oil, against neurodegeneration both in cultured cells and in model organisms, focusing, in particular, autophagy activation. In this study we investigated more in depth the molecular and cellular mechanisms of autophagy induction by OLE using cultured neuroblastoma cells and an OLE-fed mouse model of amylod beta (Aβ) deposition. We found that OLE triggers autophagy in cultured cells through the Ca2+-CAMKKβ–AMPK axis. In particular, in these cells OLE induces a rapid release of Ca2+ from the SR stores which, in turn, activates CAMKKβ, with subsequent phosphorylation and activation of AMPK. The link between AMPK activation and mTOR inhibition was shown in the OLE-fed animal model in which we found that decreased phospho-mTOR immunoreactivity and phosphorylated mTOR substrate p70 S6K levels match enhanced phospho-AMPK levels, supporting the idea that autophagy activation by OLE proceeds through mTOR inhibition. Our results agree with those reported for other plant polyphenols, suggesting a shared molecular mechanism underlying the healthy effects of these substances against ageing, neurodegeneration, cancer, diabetes and other diseases implying autophagy dysfunction.
Establishment of Functioning Human Corneal Endothelial Cell Line with High Growth Potential

Hexagonal-shaped human corneal endothelial cells (HCEC) form a monolayer by adhering tightly through their intercellular adhesion molecules. Located at the posterior corneal surface, they maintain corneal translucency by dehydrating the corneal stroma, mainly through the Na+- and K+-dependent ATPase (Na+/K+-ATPase). Because HCEC proliferative activity is low in vivo, once HCEC are damaged and their numbers decrease, the cornea begins to show opacity due to overhydration, resulting in loss of vision. HCEC cell cycle arrest occurs at the G1 phase and is partly regulated by cyclin-dependent kinase inhibitors (CKIs) in the Rb pathway (p16-CDK4/CyclinD1-pRb). In this study, we tried to activate proliferation of HCEC by inhibiting CKIs. Retroviral transduction was used to generate two new HCEC lines: transduced human corneal endothelial cell by human papillomavirus type E6/E7 (THCEC (E6/E7)) and transduced human corneal endothelial cell by Cdk4R24C/CyclinD1 (THCEH (Cyclin)). Reverse transcriptase polymerase chain reaction analysis of gene expression revealed little difference between THCEC (E6/E7), THCEH (Cyclin) and non-transduced HCEC, but cell cycle-related genes were up-regulated in THCEC (E6/E7) and THCEH (Cyclin). THCEH (Cyclin) expressed intercellular molecules including ZO-1 and N-cadherin and showed similar Na+/K+-ATPase pump function to HCEC, which was not demonstrated in THCEC (E6/E7). This study shows that HCEC cell cycle activation can be achieved by inhibiting CKIs even while maintaining critical pump function and morphology.
Fronto‐striatal dysfunction and potential compensatory mechanisms in male adolescents with fragile X syndrome

Response inhibition is an important facet of executive function. Fragile X syndrome (FraX), with a known genetic etiology (fragile X mental retardation‐1 (FMR1) mutation) and deficits in response inhibition, may be an ideal condition for elucidating interactions among gene‐brain‐behavior relationships. Functional magnetic resonance imaging (fMRI) studies have shown evidence of aberrant neural activity when individuals with FraX perform executive function tasks, though the specific nature of this altered activity or possible compensatory processes has yet to be elucidated. To address this question, we examined brain activation patterns using fMRI during a go/nogo task in adolescent males with FraX and in controls. The critical comparison was made between FraX individuals and age, gender, and intelligent quotient (IQ)‐matched developmentally delayed controls; in addition to a control group of age and gender‐matched typically developing individuals. The FraX group showed reduced activation in the right ventrolateral prefrontal cortex (VLPFC) and right caudate head, and increased contralateral (left) VLPFC activation compared with both control groups. Individuals with FraX, but not controls, showed a significant positive correlation between task performance and activation in the left VLPFC. This potential compensatory activation was predicted by the interaction between FMR1 protein (FMRP) levels and right striatal dysfunction. These results suggest that right fronto‐striatal dysfunction is likely an identifiable neuro‐phenotypic feature of FraX and that activation of the left VLPFC during successful response inhibition may reflect compensatory processes. We further show that these putative compensatory processes can be predicted by a complex interaction between genetic risk and neural function. Hum Brain Mapp, 2007. © 2007 Wiley‐Liss, Inc.
Response to antiretroviral therapy in HIV-infected patients attending a public, urban clinic in Kampala, Uganda.

BACKGROUND Access to antiretroviral therapy and human immunodeficiency virus (HIV) care is increasing in resource-limited settings. We evaluated clinical, behavioral, and demographic risk factors associated with virologic suppression in a public, urban clinic in Kampala, Uganda. METHODS We conducted a cross-sectional, observational study of 137 HIV-infected patients who were receiving antiretroviral therapy at the infectious diseases clinic at Mulago Hospital (Kampala). We measured the prevalence of viral suppression, evaluated risk factors associated with virologic failure, and documented phenotypic resistance patterns and genotypic mutations. RESULTS A total of 91 (66%) of 137 participants had an undetectable viral load (< 400 copies/mL) after a median duration of 38 weeks (interquartile range, 24-62 weeks) of antiretroviral therapy. Median CD4 cell count was 163 cells/mm3 (interquartile range, 95-260 cells/mm3). The majority of the patients (91%) were treated with nonnucleoside reverse-transcriptase inhibitor-based 3-drug regimens. In multivariate analysis, treatment with the first antiretroviral regimen was associated with viral suppression (odds ratio, 2.6; 95% confidence interval, 1.1-6.1). In contrast, a history of unplanned treatment interruption was associated with virologic treatment failure (odds ratio, 0.2; 95% confidence interval, 0.1-0.6). Of 124 participants treated with nonnucleoside reverse-transcriptase inhibitors, 27 (22%) were documented to have experienced virologic treatment failure. The most common mutation detected was K103N (found in 14 of 27 patients with virologic treatment failure). CONCLUSIONS Although many HIV-infected people treated in Kampala, Uganda, have advanced HIV disease, the majority of patients who received antiretroviral therapy experienced viral suppression and clinical benefit. Because of the frequent use of nonnucleoside reverse-transcriptase inhibitor-based therapy, the majority of resistance was against this drug class. In resource-limited settings, initiation of therapy with a potent, durable regimen, accompanied by stable drug supplies, will optimize the likelihood of viral suppression.
The Valuation Discount of Diversified Firms in Australia

This paper refines the Berger and Ofek (1995) methodology to estimate the valuation discount of diversified firms in Australia between 1988 and 1998. Mixed evidence is found for the diversification discount, with diversified firms trading at a discount to single segment firms using an earnings-based excess value measure and at a premium employing an assets excess value measure. Measurement errors are identified with the earning-based excess value measure and refinements are presented. Ordinary Least Squares (OLS) regression models are applied to explain the variations in the diversification results. There is strong evidence for differential pricing of diversified firms in Australia with higher performing diversified firms trading at a premium to single segment firms.
Face Recognition Method Based on SURF Feature

Feature extraction is crucial for face recognition. A new method of face feature extraction based on Speeded-Up Robust Feature (SURF) is proposed in this paper. SURF is invariant of shifting, rotation and scaling, and partially invariant of illumination and affine transformation. We use Fisher Linear Discriminant (FLD) method to extract the quadratic features on the basis of SURF feature, then measure the similarity of faces by calculating the Euclidean distance of the quadratic features. The experiments on ORL and UMIST face databases have been carried out. The experimental results indicate that the proposed method can reach a high recognition accuracy effectively. Keywords-face feature; face recognition; SURF feature; Fisher Linear Discriminant.
Texture Classification Using Extended Higher Order Local Autocorrelation Features

This study investigates effective image features for characterization of local regions. We propose an extension of higher order local autocorrelation (HLAC) features. The original HLAC features are restricted up to the second order. They are represented by 25 mask patterns. We increase their orders up to eight and extract the extended HLAC features using 223 mask patterns. Large mask patterns are also created to support large displacement regions. They are used to construct multi-resolution HLAC features. The proposed method outperforms Gaussian Markov random fields, Gabor features, and local binary pattern operator in texture classification.
Galanin and NPY in the rodent brain: rapid effects of 17beta-estradiol and possible roles in hippocampal plasticity

Galanin-like peptide (GALP) is currently the only known galanin(1-29) homologue. However, three different galanin receptors, of which GalR3 exhibits comparatively low affinity for galanin(1-29), and molecular heterogeneity of immunoreactive galanin are arguments for presence of other endogenous galanin homologues. Since antibodies recognize three-dimensional structures of 3–5 amino acids in a peptide, we raised antibodies in rabbits against galanin(1-16) conjugated to bovine serum albumin, looking for the presence of endogenous N-terminal galanin homologues in rat tissues. The antiserum selected had 7,830 times higher avidity for galanin(1-16) compared to galanin(1-29). A single immunoreactive component with a Stokes radius of about 8 amino acids was found. Immunohistochemistry strongly suggested that this immunoreactivity is localised in the same neurons as galanin(1-29). Furthermore, its concentration was increased in response to estrogen treatment in the same brain regions as galanin(1-29), although not as rapidly. The present results indicate the presence of a novel endogenous N-terminal galanin homologue.
Typology of Prosodic Phrasing in Japanese Dialects

The purpose of this study is to develop an intonational typology of Japanese dialects with focus on dialect-specific prosodic phrasing. While there is a tremendous amount of literature on word-level dialectal prosody in Japan, only few attempts have been made so far at describing the intonation of Japanese dialects. Since the dialects in Japan present a surprisingly rich variety of prosodic systems, the typological comparison between dialects would have as much value as that between different languages, contributing to intonational research in general. In the proposed typology, the dialects are categorized into five groups based on three features, two of which are defined by reanalyzing past works on word-level prosody. One of the typological features is [±lexical tones] defined as the presence or absence of lexically contrastive pitch. The second feature [±accent] concerns whether or not the lexicon specifies a particular syllable/mora for the lexical tones. The third feature [±dephrasing] can be defined only after we examine the intonation of the Japanese dialects. It concerns the presence or absence of accentual phrase, a prosodic phrase immediate above the word in a prosodic hierarchy. One of the main claims of the present work is that some dialects exhibits intonational grouping of words at the level of accentual phrase ([+dephrasing]), whereas the others do not ([-dephrasing]). The typology propounded in this work makes it possible to capture similarities and differences across the boundaries of previous categorizations based on word-level prosody. Specifically, it permits the inclusion of those dialects without lexically specified tones ([-lexical tones]), which have virtually been excluded from typological consideration in the past. For example, Fukushima Japanese ([-lexical tones]) and Tokyo Japanese ([+lexical tones, +accent]) are common in that they have a feature [+dephrasing]. Also, Kobayashi Japanese ([-lexical tones]) shares a feature [-dephrasing] with Osaka Japanese ([+lexical tones, +accent]) and Kagoshima Japanese ([+lexical tones, -accent]). It is also suggested that dialects with common typological features behave similarly both in morphological prosodic processes (word compounding) and in phrase-level prosodic processes (prosody-syntax mapping).
Essays on the term structure of interest rates and long-run risks

We extend Cochrane and Piazzesi (2005, CP) to international bond markets by constructing forecasting factors for bond excess returns across different countries. While the international evidence for predictability is weak using Fama and Bliss (1987) regressions, we document that local CP factors have significant predictive power. We also construct a global CP factor and provide evidence that it predicts bond returns with high R2 across countries. The local and global factors are jointly significant when included as regressors, which suggests that variation in bond excess returns are driven by country-specific factors and a common global factor. Shocks to US bond risk premia seem to be particularly important determinants for international bond premia. Motivated by these results, we estimate a parsimonious no-arbitrage affine term structure model in which risk premia are driven by one local and one global CP factor. We find that international bond risk premia are driven by a local slope factor and a world interest rate level factor.
Relationship Between Wood Color Parameters Measured by the CIELab System and Extractive and Phenol Content in Acacia mangium and Vochysia guatemalensis from Fast-Growth Plantations

: The heterogeneity of color distribution between sapwood and heartwood limits the market for wood from fast-growth plantations of tropical species. Wood color is associated with wood extractives contents. This study presents the relationship between wood color parameters measured by the CIELab color system and total amount of extractives and phenolic-type extractives in ethanol-toluene and hot water extracts of wood from two fast-growth plantation species. The results demonstrated that the difference in sapwood and hardwood color in Vochysia guatemalensis and Acacia mangium is caused by lower concentrations of extractives in sapwood of both species. Additionally, variations in total extractive and phenolic content have different effects on the color parameters (L*, a* and b*) of both species studied. In Vochysia guatemalensis wood, parameter L* decreases as total extractive and phenolic content increases; however, parameter a* increases as the content of extractives and phenols increases. In Acacia mangium, the amount of phenols showed no relationship with the color parameters. The ethanol-toluene total extractive content, however, shows a relationship with several color parameters. An increase in the content of total extractives in water and ethanol-toluene increases parameter a*, but decreases parameter L*.
Understanding U.S. Consumer Demand for Milk Production Attributes

A choice experiment was used to examine the value of various fluid milk attributes. Respondents were surveyed regarding half or whole gallon milk purchases. A split-sample design was used to examine consumer inferences regarding food safety. Willingness to pay for verification of production process attributes varied across attributes and verifying entity. Consumers were generally willing to pay substantial premiums for milk produced without the use of rbST, on local family farms, with assured food safety enhancement, and for these claims to be verified by the U.S. Department of Agriculture.
Tackling Sectarianism in Scotland

The Advisory Group on Tackling Sectarianism in Scotland (AGoTS) was established in August 2012 to provide Scottish Ministers with impartial advice on how to develop and assess work to tackle sectarianism in Scotland. Key to the Group's work was understanding the forms that sectarianism may (or may not) take in contemporary Scotland, and how best to address these. This article sets out an overview of the Group, as well as outlining the key contours of this Special Issue of Scottish Affairs.
Exercise as a Mean to Control Low-Grade Systemic Inflammation

Chronic noncommunicable diseases (CNCDs), which include cardiovascular disease, some cancers, for example, colon cancer, breast cancer, and type 2 diabetes, are reaching epidemic proportions worldwide. It has now become clear that low-grade chronic inflammation is a key player in the pathogenesis of most CNCDs. Given that regular exercise offers protection against all causes of mortality, primarily by protection against atherosclerosis and insulin resistance, we suggest that exercise may exert some of its beneficial health effects by inducing anti-inflammatory actions. Recently, IL-6 was introduced as the first myokine, defined as a cytokine, which is produced and released by contracting skeletal muscle fibres, exerting its effects in other organs of the body. We suggest that skeletal muscle is an endocrine organ and that myokines may be involved in mediating the beneficial effects against CNCDs associated with low-grade inflammation.
Financial Decision-Making in Markets and Firms: A Behavioral Perspective

In its attempt to model financial markets and the behavior of firms, modern finance theory starts from a set of normatively appealing axioms about individual behavior. Specifically, people are said to be risk-averse expected utility maximizers and unbiased Bayesian forecasters, i.e., agents make rational choices based on rational expectations. The rational paradigm may be criticized, however, because (1) the assumptions are descriptively false and incomplete, and (2) the theory often lacks predictive power. One way to make progress is to characterize actual decision- making behavior. Efforts along these lines are made by behavioral economists and psychologists. This paper provides a selective review of recent work in behavioral finance. First, we ask why economists should be concerned with the psychology of decision-making. Next, we discuss a series of key behavioral concepts, e.g., people's well-known tendencies to give too much weight to vivid information and to show excessive self-confidence. The body of the paper illustrates the relevance of these concepts to important topics in investment theory and corporate finance. In each case, behavioral finance offers a new perspective on results that are anomalous within the standard approach.