Miracle-dz/UniFAR-FTUs huggingface dataset:
Accounting Performance of Firms Pursuing a Share Repurchase Strategy

Drawing from earlier work and market sentiment, two non‐mutually exclusive hypotheses were framed to test the proposition that share repurchase programs are a performance improving strategy. To achieve the above, a large sample of companies that repurchased shares is compared to a matched sample of companies not pursuing a share repurchase strategy. The comparative analysis covers numerous time intervals. In comparing the accounting performance of repurchasing companies to that of non‐repurchasing companies, Return on Assets (ROA), Return on Equity (ROE), Return on Sales (ROS), Book‐to‐Market (B/M), Earnings per Share (EPS), and Sustainable Growth Rate (SGR) are applied. The primary conclusion drawn from the performance of these indicators is a high degree of difference in the performance of repurchasing and non‐repurchasing firms. There is also evidence to suggest, at least in the aggregate repurchasing sample, that the performance of repurchasing companies fails to significantly improve in the post announcement period.
Suicide among the elderly: The long-term impact of a telephone support and assessment intervention in northern Italy

Background Previous short-term work reported fewer suicides among elderly users of a telephone helpline and emergency response service (the Tele Help–Tele Check Service). Aims To examine long-term effects of the service on suicide in an elderly population of northern Italy. Method The service provided twice-weekly support and needs assessment telephone calls and a 24 h emergency alarm service. Data from 1988 to 1998 allowed comparison of 18 641 service users with a comparable general population group of the Veneto region in Italy. Results Significantly fewer suicide deaths (n OBSERVED=6) occurred among elderly service users (standardised mortality ratio (SMR) 28.8%) than expected (n EXPECTED=20.86; χ2=10.58, d.f.=1, P < 0.001) despite an assumed overrepresentation of persons at increased risk. The service performed well for elderly females (n OBSERVED=2, SMR=16.6%, n EXPECTED=12.03; χ2=8.36, d.f.=1, P < 0.001). Conclusions The study confirms the initial promise of the Tele Help–Tele Check service over a much longer time period. Further research will clarify the apparent lack of benefit for elderly males.
Imputation of Individual Longleaf Pine (Pinus palustris Mill.) Tree Attributes from Field and LiDAR Data

Abstract Light Detection and Ranging (LiDAR) has demonstrated potential for forest inventory at the individual-tree level. The aim in this study was to predict individual-tree height (Ht; m), basal area (BA; m2), and stem volume (V; m3) attributes, imputing Random Forest k-nearest neighbor (RF k-NN) and individual-tree-level-based metrics extracted from a LiDAR-derived canopy height model (CHM) in a longleaf pine (Pinus palustris Mill.) forest in southwestern Georgia, United States. We developed a new framework for modeling tree-level forest attributes that comprise 3 steps: (i) individual tree detection, crown delineation, and tree-level-based metrics computation from LiDAR-derived CHM; (ii) automatic matching of LiDAR-derived trees and field-based trees for a regression modeling step using a novel algorithm; and (iii) RF k-NN imputation modeling for estimating tree-level Ht, BA, and V and subsequent summarization of these metrics at the plot and stand levels. RMSDs for tree-level Ht, BA, and V were 2.96%, 58.62%, and 8.19%, respectively. Although BA estimation accuracy was poor because of the longleaf pine growth habitat, individual-tree locations, Ht, and V were estimated with high accuracy, especially in low-canopy-cover conditions. Future efforts based on the findings could help improve the estimation accuracy of individual-tree-level attributes such as BA.
Split peripheral tolerance: CD40 ligation blocks tolerance induction for CD8 T cells but not for CD4 T cells in response to intestinal antigens

The role of antigen‐presenting cells in the balance between immunity and tolerance to intestinal antigens remains poorly understood. In this study, we examined whether CD40 ligation affects the induction of CD4 and CD8 T cell tolerance in response to intestinal antigens. We show that an agonistic anti‐CD40 mAb treatment did not block the induction of OVA‐specific CD4 T cell tolerance, whereas this approach enabled strong priming of OVA‐specific cytotoxic T cells (CTL), preventing CTL tolerance to intestinal antigen. Such CTL priming was independent of CD4 T cell help but required B7 costimulation. Co‐administration of anti‐CD40 mAb increased the synthesis of IL‐2 and the expression of CD25 by CD8 T cells, but neither IL‐2 production nor CD25 expression by CD4 T cells was enhanced by anti‐CD40 mAb. However, neutralization of TGF‐β together with addition of agonistic anti‐CD40 mAb was able to reverse CD4 T cell tolerance. These findings suggest that the induction of tolerance versus immunity against intestinal antigens is determined by the status of the antigen‐presenting cells and that signals via CD40 differently regulate the outcome of CD4 and CD8 T cells in vivo.
Subcortical MRI volumes in neuroleptic-naive and treated patients with schizophrenia.

OBJECTIVE This study examined whether subcortical volumes of the basal ganglia and thalamus in schizophrenic patients are related to neuroleptic exposure and symptom severity. METHOD Basal ganglia substructures and thalamic volumes were measured with magnetic resonance imaging in 96 patients with schizophrenia (50 men and 46 women) and 128 healthy comparison subjects (60 men and 68 women). Twenty-one of the patients were neuroleptic-naive; of the 75 previously treated patients, 48 had received typical neuroleptics only, and 27 had received typical and atypical neuroleptics. The relation of volume measures to treatment status, exposure to neuroleptics, and symptoms was examined. RESULTS The neuroleptic-naive patients did not differ from the healthy comparison subjects in subcortical volumes except for lower thalamic volume. In the neuroleptic-naive group, volumes did not correlate with severity of negative symptoms, but higher volumes in both the thalamus and the putamen were associated with more severe positive symptoms. The previously treated group showed higher volumes in the putamen and globus pallidus than the healthy comparison subjects and the neuroleptic-naive patients. In the treated group, a higher dose of a typical neuroleptic was associated with higher caudate, putamen, and thalamus volumes, whereas a higher dose of an atypical neuroleptic was associated only with higher thalamic volume. Higher subcortical volumes were mildly associated with greater severity of both negative and positive symptoms. CONCLUSIONS Increased subcortical volumes in treated schizophrenic patients seem to be medication-induced hypertrophy. This hypertrophy could reflect structural adaptation to receptor blockade and may moderate the effects of neuroleptic treatment.
Monitoring the health‐related labelling of foods and non‐alcoholic beverages in retail settings

Food labelling on food packaging has the potential to have both positive and negative effects on diets. Monitoring different aspects of food labelling would help to identify priority policy options to help people make healthier food choices. A taxonomy of the elements of health‐related food labelling is proposed. A systematic review of studies that assessed the nature and extent of health‐related food labelling has been conducted to identify approaches to monitoring food labelling. A step‐wise approach has been developed for independently assessing the nature and extent of health‐related food labelling in different countries and over time. Procedures for sampling the food supply, and collecting and analysing data are proposed, as well as quantifiable measurement indicators and benchmarks for health‐related food labelling.
Accounting Policy Disclosures and Analysts' Forecasts

Using an international sample, I investigate whether the extent of firms' disclosure of their accounting policies in the annual report is associated with properties of analysts' earnings forecasts. Controlling for firm- and country-level variables, I find that the level of accounting policy disclosure is significantly negatively related to forecast dispersion and forecast error. In particular, I find that accounting policy disclosures are incrementally useful to analysts over and above all other annual report disclosures. These findings suggest that accounting policy disclosures reduce uncertainty about forecasted earnings. I find univariate but not multivariate support for the hypothesis that accounting policy disclosures are especially helpful to analysts in environments where firms can choose among a larger set of accounting methods.
Dynamic Analysis of an Endogenous Growth Model with Investment�?Specific Technological Change

type="main"> This paper examines a dynamically optimal subsidy policy in a continuous-time version of the endogenous growth model developed by Krusell (Krusell, P. (1998) “Investment-Specific R&D and the Decline in the Relative Price of Capital”, Journal of Economic Growth, vol. 3, no. 2, pp. 131–141), in which investment-specific technological progress occurs endogenously because of R&D performed by monopolistic firms. It is demonstrated that a combination of the time-invariant subsidy for investment and the time-variant subsidy for R&D enables the market equilibrium to replicate the socially optimal allocation.
Multidimensional Drug Design: Simultaneous Analysis of Binding and Relative Efficacy Profiles of N6‐substituted‐4′‐thioadenosines A3 Adenosine Receptor Agonists

Desirability theory (DT) is a well‐known multi‐criteria decision‐making approach. In this work, DT is employed as a prediction model (PM) interpretation tool to extract useful information on the desired trade‐offs between binding and relative efficacy of N6‐substituted‐4′‐thioadenosines A3 adenosine receptor (A3AR) agonists. At the same time, it was shown the usefulness of a parallel but independent approach providing a feedback on the reliability of the combination of properties predicted as a unique desirability value. The appliance of belief theory allowed the quantification of the reliability of the predicted desirability of a compound according to two inverse and independent but complementary prediction approaches. This information is proven to be useful as a ranking criterion in a ligand‐based virtual screening study. The development of a linear PM of the A3AR agonists overall desirability allows finding significant clues based on simple molecular descriptors. The model suggests a relevant role of the type of substituent on the N6 position of the adenine ring that in general contribute to reduce the flexibility and hydrophobicity of the lead compound. The mapping of the desirability function derived of the PM offers specific information such as the shape and optimal size of the N6 substituent. The model herein developed allows a simultaneous analysis of both binding and relative efficacy profiles of A3AR agonists. The information retrieved guides the theoretical design and assembling of a combinatorial library suitable for filtering new N6‐substituted‐4′‐thioadenosines A3AR agonist candidates with simultaneously improved binding and relative efficacy profiles. The utility of the desirability/belief‐based proposed virtual screening strategy was deduced from our training set. Based on the overall results, it is possible to assert that the combined use of desirability and belief theories in computational medicinal chemistry research can aid the discovery of A3AR agonist candidates with favorable balance between binding and relative efficacy profiles.
Activation of mitogen‐activated protein kinases/extracellular signal‐regulated kinases in human hepatocellular carcinoma

Mitogen‐activated protein kinase/extracellular signal‐regulated protein kinase (MAPK/ERK) is a key molecule in intracellular signal transducing pathways that transport extracellular stimuli from cell surface to nuclei. MAPK/ERK has been revealed to be involved in the physiological proliferation of mammalian cells and also to potentiate them to transform. However, its role in the outgrowth of human hepatocellular carcinoma (HCC) has yet to be clarified. Therefore, in this study, we investigated the activation of MAPK/ERK and its associated gene expression in HCC. MAPK/ERK was activated in 15 of 26 cases of HCC we examined (58%), and its activity level was significantly higher in HCC than in the adjacent non‐cancerous lesions. Besides, MAPK/ERK activation in HCC was positively correlated with protein expression of transcription factor c‐Fos. Furthermore, in 25 of 26 cases of HCC which genomic DNA was available, 22 cases without genomic DNA amplification exhibited positive correlation, not only between protein expression of c‐Fos and cyclin D1, but also between MAPK/ERK activation and cyclin D1 expression. Concerning the relationship between MAPK/ERK activation and the clinicohistopathological features of HCC, the tumor (HCC) versus non‐tumor (non‐cancerous counterpart) ratio (T/N) of MAPK/ERK activity was positively correlated with tumor size, but neither with the stage of HCC nor the degree of differentiation of HCC. In conclusion, these findings suggest that MAPK/ERK activation in human HCC may play an important role in multistep hepatocarcinogenesis, especially in the progression of HCC; at least in part, through cyclin D1 up‐regulation primarily induced by MAPK/ERK via c‐Fos.
Corporate governance codes in the European Union: Are they driven by external or domestic forces?

Purpose – The paper seeks to analyze to what extent the contents of corporate governance codes of countries in the European Union are driven by external (internationally accepted corporate governance best practices) or domestic (institutions, culture, etc.) forces.Design/methodology/approach – The paper compares the contents of codes with the priorities set by the European Commission with respect to modernising company law and enhancing corporate governance in the European Union.Findings – The analysis shows that the majority of the codes of the European Union countries are not in full accordance with the priorities of the European Commission. This may reflect that codes are driven by both external and domestic forces. Whether there is a difference between Western European and Central and Eastern European countries in this respect is also investigated, but no difference, at least at the aggregate level of the codes of both groups of countries has been found.Research limitations/implications – The analysis.
The Myth of the Global Corporation

Critics and defenders of multinational corporations often agree on at least one thing: that the activities of multinationals are creating an overwhelmingly powerful global market that is quickly rendering national borders obsolete. The authors of this book, however, argue that such expectations commonly rest on a myth. They examine key activities of multinational corporations in the United States, Japan, and Europe and explore the relationship between corporate behavior and national institutions and cultures. They demonstrate that the world's leading multinationals continue to be shaped decisively by the policies and values of their home countries and that their core operations are not converging to create a seamless global market.With a wealth of fresh evidence, the authors show that Japanese and German multinationals, in particular, remain only weakly committed to laissez-faire policy orientations and continue to exhibit strong allegiance to national goals in such areas as investment and employment. They also bring to light the consequences of enduring differences in government policies on, for example, industrial cartels, capital markets, and research and development.The authors agree that the world economy is becoming more complex and integrated as overt barriers to trade and investment fall away. But they conclude that the extent of this integration is decisively limited by structural divergence at the level of the firm. The book will be essential reading for those seeking to understand the growing interdependence of still-distinctive industrial societies and the wellsprings of the true global economy.
Higher Order Greeks

In the original Black-Scholes pricing framework, a continuously rebalanced delta hedge of an option against its underlying stock produces a perfectly risk free position. But in the real world, a basic delta hedge is still exposed to quite a lot of risk because rebalancing can only be done at discrete intervals, volatility is stochastically time-varying, and underlying assets do not follow true lognormal diffusions. Discrete rebalancing after a non-marginal price change makes gamma an important extra risk factor and with fluctuating implied volatility, vega becomes another one. This makes delta-gamma-vega hedging the next level of option risk management. But unhedged risk still remains. In this paper, Ederington and Guan investigate whether option risk factors measured by other second and third order derivatives of the option pricing function can capture this residual risk, and if so, which are the most important of these „higher order Greeks. ” They find that, at least for S&P 500 index futures options, the additional risk factors can explain a substantial portion of the residual risk in a delta-gamma-vega hedge. A key finding is that an option's sensitivity to the higher order Greeks depends heavily on its moneyness, with several Greek letter risks that are unimportant for at the money options becoming much more relevant for out of the money contracts. They also show that a hedge strategy that neutralizes these additional factors can lower residual risk by an order of magnitude below that of a delta-gamma-vega hedge.
Clinical characteristics and predictors of one-year outcome of heart failure patients with atrial fibrillation compared to heart failure patients in sinus rhythm.

BACKGROUND Atrial fibrillation (AF) frequently coexists with heart failure (HF). AIM To assess clinical characteristics and to identify predictors of one-year outcome of patients hospitalised for HF, depending on whether they were in sinus rhythm (SR) or had AF. METHODS The study included Polish patients hospitalised for HF, participating in the Heart Failure Pilot Survey of the European Society of Cardiology, who were followed for 12 months after discharge. Patients with paced heart rhythm were excluded from the study. The primary endpoint was all-cause death at 12 months. RESULTS The final analysis included 587 patients. AF occurred in 215 (36.6%) patients. Compared to patients in SR, patients with AF were older, more often had a history of previous HF hospitalisation, were characterised by a higher New York Heart Association (NYHA) class, higher heart rate, and lower diastolic blood pressure at hospital admission, and had higher serum creatinine and lower haemoglobin concentration at admission. In-hospital mortality was higher in AF patients compared to SR patients (5.1% vs. 2.4%, respectively), but the difference did not reach statistical significance (p = 0.1). The primary endpoint occurred in 41 of 215 AF patients (19.1%) and in 40 of 372 SR patients (10.8%; p = 0.006). In a multivariate analysis, predictors of the primary endpoint in AF patients were: higher NYHA class at hospital admission (p = 0.02), higher admission heart rate (p = 0.04), lower admission serum sodium concentration (p = 0.0001), and higher heart rate at discharge (p = 0.01). In patients with SR, independent predictors of the primary endpoint included: older age (p = 0.007), lower serum sodium concentration at admission (p = 0.0006), and higher heart rate at discharge (p = 0.008). CONCLUSIONS Patients with HF and concomitant AF differ significantly from HF patients in SR. In the studied group of real-world HF patients, serum sodium concentration at hospital admission and heart rate at hospital discharge were independent prognostic factors in patients with AF and in patients in SR. In contrast to SR patients, heart rate at hospital admission in AF patients was also predictive of long-term mortality.
Adjunctive quetiapine for serotonin reuptake inhibitor-resistant obsessive–compulsive disorder: a meta-analysis of randomized controlled treatment trials

Small studies have shown positive effects from adding a variety of antipsychotic agents in patients with obsessive–compulsive disorder who are unresponsive to treatment with serotonin reuptake inhibitors. The evidence, however, is contradictory. This paper reports a meta-analysis of existing double-blind randomized placebo-controlled studies looking at the addition of the second-generation antipsychotic quetiapine in such cases. Three studies fulfilled the inclusion criteria. Altogether 102 individuals were subjected to analysis using Review Manager (4.2.7). The results showed evidence of efficacy for adjunctive quetiapine (<400 mg/day) on the primary efficacy criterion, measured as changes from baseline in total Yale–Brown Obsessive Compulsive Scale scores (P=0.008), the clinical significance of which was limited by between-study heterogeneity. The mechanism underlying the effect may involve serotonin and/or dopamine neurotransmission.
Photodynamic Therapy-induced Apoptosis in Epidermoid Carcinoma Cells

Photodynamic therapy (PDT), a novel and promising cancer treatment that employs a combination of a photosensitizing chemical and visible light, induces apoptosis in human epidermoid carcinoma A431 cells. However, the precise mechanism of PDT-induced apoptosis is not well characterized. To dissect the pathways of PDT-induced apoptosis, we investigated the involvement of mitochondrial damage by examining a second generation photosensitizer, the silicon phthalocyanine 4 (Pc 4). By using laser-scanning confocal microscopy, we found that Pc 4 localized to cytosolic membranes primarily, but not exclusively, in mitochondria. Formation of mitochondrial reactive oxygen species (ROS) was detected within minutes when cells were exposed to Pc 4 and 670–675 nm light. This was followed by mitochondrial inner membrane permeabilization, depolarization and swelling, cytochrome c release, and apoptotic death. Desferrioxamine prevented mitochondrial ROS production and the events thereafter. Cyclosporin A plus trifluoperazine, blockers of the mitochondrial permeability transition, inhibited mitochondrial inner membrane permeabilization and depolarization without affecting mitochondrial ROS generation. These data indicate that the mitochondrial ROS are critical in initiating mitochondrial inner membrane permeabilization, which leads to mitochondrial swelling, cytochrome c release to the cytosol, and apoptotic death during PDT with Pc 4.