Miracle-dz/UniFAR-FTUs huggingface dataset:
Exploring Long-Run Abnormal Performance Using Stochastic Dominance Criteria: Additional Evidence from Ipos

We re-visit long-run performance after IPOs using a model-free stochastic dominance approach that allows us to compare the empirical distribution of portfolio payoffs while incorporating assumptions about investors' preferences. Our main results are as follows. First, we find that investors, who prefer more wealth to less, are indifferent between an IPO firm portfolio and commonly used benchmark portfolios. Second, we find little evidence that risk-averse investors prefer small size and low book-to-market benchmark portfolios to an IPO portfolio. We conclude that, In the case of IPOs at least, the question of abnormal underperformance may remain unresolved empirically, even with better statistical methods and a well-specified asset pricing model, due to the latitude available in the ex ante choice of a benchmark to compare relative performance.
Use of complementary and alternative medicine by patients with inflammatory bowel disease

&NA; In this review article we provide a broad overview of complementary and alternative medicine (CAM) use in inflammatory bowel diseases (IBDs), including prevalence of use, common therapies used, and reasons for and factors associated with CAM use. CAM is commonly used by those suffering from IBD. Multiple forms of CAM are used to treat IBD, and often patients use multiple CAM therapies and continue to use conventional medical therapies. Patients using CAM report benefits that extend beyond simply improved disease control. Using CAM allows patients to exert a greater degree of control over their disease and its management than they are afforded by conventional medicine. There is limited evidence on the efficacy of CAM therapies in IBD. It is important for physicians caring for those with IBD to be familiar with common forms of CAM and to be able to provide general counseling to their patients about CAM use. Inflamm Bowel Dis 2011
Enhanced portfolio optimisation model for real estate investment in HK

This paper investigates the role of direct real estate investment and securitised properties in a multi‐asset portfolio with financial assets available in Hong Kong, in a variety of time horizons. Grounded on the mean‐variance framework within the Modern Portfolio Theory, the study extends it by deploying the Exponentially Weighted Moving Average (EWMA) technique to estimate the variance and covariance, which reduces estimation errors, owed to the lack of ‘dynamic update’ capabilities in the standard model. Additionally, a constraint on the allocation to direct real estate investment is imposed in the portfolio optimisation problem to examine how percentage changes in the allocation to real properties affect the return and risk of the optimal portfolio. The experimental results show that the private domestic plays a more important role than property stocks in an optimal multi‐asset portfolio, in all time horizons, with allocation ranging from 23–27%. Also, for an optimal portfolio with shorter time horizons, lesser‐value direct real estate (Class A/B) tends to be included, while luxury property investment is the main asset for portfolios with longer time horizons. This proffers some implications for fund managers in Hong Kong in the management of portfolio investment when real estate is involved, subject to various levels of returns, risks and longevity.
The Day After Tomorrow: A Handbook on the Future of Economic Policy in the Developing World

Development economists are paid to look into the future. They ask not only how things work today, but also how a new policy, program, or project will make them work tomorrow. They view the world and history as a learning process, past and present are just inputs into thinking about what's coming. It is that appetite for a vision of the future that led us to invite some 40 development economists, most of them from the World Bank's poverty reduction and economic management network, an epicenter of the profession, to tell us what they see on the horizon of their technical disciplines and of their geographic areas of specialization. The timing could not be better. The 2008-09 global financial crises shook the ground under the conventional wisdom that had been held as true for decades. From what the role of governments should be in markets to which countries will be the engines of the world's economy, from what people need to leave poverty to what businesses need to stay competitive, it is all up for reexamination. This synthesis provides an account of what the author heard. It is not meant to be comprehensive. Instead, it picks from each chapter what is new, what is likely to change, and what will be different in the future.
Discussion of “The Role of Performance Measures in the Intertemporal Decisions of Business Unit Managers”

This article is a discussion of, but mostly a further reflection on, the 2011 CAR Conference paper by Abernethy, Bouwens, and van Lent, “The Role of Performance Measures in the Intertemporal Decisions of Business Unit Managers” (this issue, henceforth ABvL). If I could have picked a title for my discussion article, I would have called it, “The Informational and Motivational Dimensions of Managerial Long-Term Orientation: Tackling Ignorance and Pressure,” for reasons that will become obvious as I develop my key points underpinning this discussion.
Older adults' physical activity participation and perceptions of wellbeing: Examining the role of social support for leisure

Recent nation-wide data on self-reported leisure-time physical inactivity reveals that about one third of the American population age 50 and over is sedentary. Several national organizations are promoting leisure-time physical activity among older adults as a strategy for this population to adapt to age-related declines in mental and physical functioning and to improve their quality of life. Inferences from past research suggest that social support is significant in enabling older adults to achieve better health outcomes. Unfortunately, little is known about the relationship between health and wellbeing of older adults depending upon the amount and type of social support received for leisure activities, i.e., social support for leisure (SSL). In this study, we investigated the influence of SSL sources (family members, friends, and acquaintances) on physical activity levels and wellbeing, i.e., life satisfaction, stress, and health among older adults (age 50 and over). Study findings highlighted the importance of support from friends for increasing leisure and recreational physical activity participation among older adults. Findings revealed that both family and friends' support for leisure had positive effects on older adults' perception of wellbeing. Another important finding in this study was the positive relationship between family social support for leisure and the respondents' life-satisfaction levels.
Comparison between Sukuk and Conventional Bonds: Value at Risk Approach

Sukuk market has been growing tremendously since it has first been issued in the global market. However, the debate among scholars in distinguishing Sukuk from its conventional counterpart is still ongoing. This paper aims at assessing the potential difference between Sukuk and conventional bonds by capturing any additional diversification benefit that can be gained by adding Sukuk in to conventional fixed income portfolio. Further, the paper evaluates the risk of Sukuk by measuring its VaR value and compares it with the VaR value of a conventional bond issued by the same issuer in two separate portfolios. The project employs the Delta-Normal Value-at-Risk approach to achieve this goal. The findings of this project imply that Sukuk and conventional bonds prices have different behavior in the secondary market. The results have also confirmed the presence of diversification gains when adding Sukuk to conventional bond portfolio in line to previous literature. Interestingly enough, it is observed that pure Sukuk portfolio is significantly riskier than a pure bond portfolio. This may be due to factors which stems from the characteristics of Islamic finance that underlines Sukuk structuring and engineering.
Parliamentary Opposition in Post-Communist Democracies: Power of the Powerless

This article charts the development of parliamentary opposition in post-communist Eastern Europe in the context of the changing nature of executive–legislative relations. We first review the existing literature on opposition in post-communist Europe. The second part of the article presents an analytical framework of different modes of executive–legislative interactions. Empirical analysis then demonstrates the practical relevance of these modes in post-communist political systems and their consequences for the position of the parliamentary opposition. We draw our empirical material from three countries of the region: Bulgaria, the Czech Republic and Hungary. We demonstrate that political parties have become the principal source of parliamentary opposition in these countries. However, we also highlight the crucial link between party stability and the ability of the opposition to influence the policy-making process.
[Residual monomer content determination in some acrylic denture base materials and possibilities of its reduction].

BACKGROUND/AIM Polymethyl methacrylate is used for producing a denture basis. It is a material made by the polymerization process of methyl methacrylate. Despite of the polymerization type, there is a certain amount of free methyl methacrylate (residual monomer) incorporated in the denture, which can cause irritation of the oral mucosa. The aim of this study was to determine the amount of residual monomer in four different denture base acrylic resins by liquid chromatography and the possibility of its reduction. METHODS After the polymerization, a postpolymerization treatment was performed in three different ways: in boiling water for thirty minutes, with 500 W microwaves for three minutes and in steam bath at 22 degrees C for one to thirty days. RESULTS The obtained results showed that the amount of residual monomer is significantly higher in cold polymerizing acrylates (9.1-11%). The amount of residual monomer after hot polymerization was in the tolerance range (0.59-0.86%). CONCLUSION The obtained results denote a low content of residual monomer in the samples which have undergone postpolymerization treatment. A lower percent of residual monomer is established in samples undergone a hot polymerization.
From fiduciary duties to fiduciary relationships for socially responsible investing: responding to the will of beneficiaries

This article examines whether socially responsible investing (SRI) may be legally permissible if it fulfils the will of the beneficiaries in a fiduciary relationship, and considers potential legal reforms to give better effect to the interests of beneficiaries. It thus examines a relatively neglected aspect of fiduciary finance, which so far has focused on whether SRI is ‘financially material’ to investment performance. It argues that by reframing fiduciary finance as an active relationship rather than merely the mechanical application of legal duties, we may allow trustees to invest socially pursuant to the wishes of beneficiaries. However, this article also suggests that considerable legal and practical obstacles confront this path to SRI. They include the trustees' duty to treat different beneficiaries even-handedly and the traditionally passive role that trust law has cast beneficiaries. Reliance on widely held social customs and evaluation of third parties' interests as a proxy for the will of beneficiaries, and the role of statutory reforms mandating consultation with and representation of beneficiaries on the governing boards of trustees, are also considered in this article. It concludes by suggesting some potential legal reforms to strengthen reliance on the will of beneficiaries as a means of SRI.
Global Distribution of Invasive Serotype 35D Streptococcus pneumoniae Isolates following Introduction of 13-Valent Pneumococcal Conjugate Vaccine

ABSTRACT A newly recognized pneumococcal serotype, 35D, which differs from the 35B polysaccharide in structure and serology by not binding to factor serum 35a, was recently reported. The genetic basis for this distinctive serology is due to the presence of an inactivating mutation in wciG, which encodes an O-acetyltransferase responsible for O-acetylation of a galactofuranose. Here, we assessed the genomic data of a worldwide pneumococcal collection to identify serotype 35D isolates and understand their geographical distribution, genetic background, and invasiveness potential. Of 21,980 pneumococcal isolates, 444 were originally typed as serotype 35B by PneumoCaT. Analysis of the wciG gene revealed 23 isolates from carriage (n = 4) and disease (n = 19) with partial or complete loss-of-function mutations, including mutations resulting in premature stop codons (n = 22) and an in-frame mutation (n = 1). These were selected for further analysis. The putative 35D isolates were geographically widespread, and 65.2% (15/23) of them was recovered after the introduction of pneumococcal conjugate vaccine 13 (PCV13). Compared with serotype 35B isolates, putative serotype 35D isolates have higher invasive disease potentials based on odds ratios (OR) (11.58; 95% confidence interval[CI], 1.42 to 94.19 versus 0.61; 95% CI, 0.40 to 0.92) and a higher prevalence of macrolide resistance mediated by mefA (26.1% versus 7.6%; P = 0.009). Using the Quellung reaction, 50% (10/20) of viable isolates were identified as serotype 35D, 25% (5/20) as serotype 35B, and 25% (5/20) as a mixture of 35B/35D. The discrepancy between phenotype and genotype requires further investigation. These findings illustrated a global distribution of an invasive serotype, 35D, among young children post-PCV13 introduction and underlined the invasive potential conferred by the loss of O-acetylation in the pneumococcal capsule.
All-optical variable-in variable-out wavelength converter based on cascaded nonlinearity in aperiodic optical superlattice

We theoretically report a new method to achieve variable-in, variable-out wavelength conversion in LiNbO3 with aperiodic optical superlattices (AOS) structure. The optimal structure of the LiNbO3 sample was obtained through simulated annealing (SA) method. About 3.4nm prescribe pump bandwidth at 1559nm is achieved to fulfill variable wavelength conversion among four selected ITU signal channels (C23-C20). As the result of large pump bandwidth, the reduced effective nonlinear coefficient of the AOS sample decreases to 0.21. Fluctuation of the operation temperature, variation of the incident angle and the errors in poling process show little influence on the performance of the device.
Permanent and Transitory Macroeconomic Relationships between China and the Developed World The Evolving Role of China in the Global Economy

This paper applies a correlated unobserved components model to explore the relationships between the real output fluctuations of China with those of developed countries over the period 1978Q1-2009Q4. We focus on two measures of aggregate developed-country output: real GDP for the G-7 countries and real GDP for 25 OECD developed countries. The model allows us to distinguish correlations driven by permanent movements from those due to transitory movements. We find that the correlations between the real output fluctuations of China and the developed world are insignificant both in terms of permanent and transitory shocks, which indicates that domestic factors maybe the major drivers of China’s macro-economic fluctuations during the sample period.
PENGARUH USIA, KEINGINAN SOSIAL, KECUKUPAN ANGGARAN, DAN PARTISIPASI PENGANGGARAN TERHADAP KINERJA MANAJER DI INDONESIA

This study investigates the influence of age to manager performance in Indonesia. In the theoretical model, age affects totally to manager performance and this affects can directly or indirectly via three intervening variable: social desirability, budget adequacy, and budgeting participation. To test the relationship, a survey questionnaire was administered to managers of public corporation in Jakarta Stocks Exchange (JSX). Results of regression and path analysis support the hypothesized relationship
The Impact of Devolution on EU-Level Representation: British Regional Offices in Brussels

Abstract Devolution has had a substantial impact on the way in which UK regions organize their representative activity in the EU. The model of stakeholder partnerships, focused largely on economic development issues, has been complemented by a set of devolved regional actors. Relations between the new representative offices in Brussels have been configured in such a way as to maintain the primacy of the UK negotiating stance; a framework of incentives links the new executive bodies to the UK's Permanent Representation, UKREP, in an effort to prevent the mediation of multiple policy positions. Nevertheless, the recent establishment of regional parliamentary representative offices alongside the executives of the devolved territories increases the complexity of British interest mediation in Brussels, and offers potential for fracturing of the existing system.
Beyond the dream: Improving college-readiness of underprepared community college students

The majority of the nation’s first-year college students are not prepared to assume postsecondary level studies. Many are diverted to developmental education programs and most never attain postsecondary credentials. Educational reform is on the national agenda and challenges community colleges to address the growing lack of postsecondary achievement. The purpose of this instrumental multi-case study was to explore and analyze reformative strategies that effectively address college-readiness and achievement of underprepared community college students. A qualitative methodology was employed in analyzing strategies implemented at community colleges to improve college-readiness. A criterion-based selection process identified six community colleges recognized by the Achieving the Dream organization as Leader Colleges in improving student success and located within systems with statewide educational policy reform. In addition, purposeful sampling was used to design a focus group of field experts to examine effective strategies and best practice criteria. Data were collected via semi-structured interviews with Core Team Leaders who led implementation of reformative strategies at the six colleges. Collected demographic survey-data offered context and pertinent document reviews and focus group data contributed to the triangulation of evidence. The interviews yielded insight into 18 strategies designed to improve college-readiness. Findings include descriptions, evidence of impact, factors that supported effectiveness, perceived potential for wide-scale implementation, and recommended best practices. Cross-case analyses
Knee Osteoarthritis after Arthroscopic Partial Meniscectomy: Prevalence and Progression of Radiographic Changes after 5 to 12 Years Compared with Contralateral Knee

Abstract The purpose of this study was to study the clinical and radiographic changes in the knee after arthroscopic partial meniscectomy (APM) at a long-term follow-up compared with the contralateral knee. We assessed 57 patients (38 males and 19 females) with pre- and postoperative weight-bearing radiography with a follow-up ranging from 5.1 to 12.1 years (mean: 8.1) to analyze prevalence and progression of knee osteoarthritis (OA) after APM. We stratified patients according to body mass index (BMI), type of lesion (degenerative vs. traumatic), and side of meniscectomy (medial, lateral, and medial plus lateral). Patients were evaluated both clinically with Knee Osteoarthritis Outcome Score (KOOS) and Western Ontario and McMaster Universities Osteoarthritis Index (WOMAC) score and radiographically with the Kellgren and Lawrence (K/L) score. Radiographic OA was defined as K/L grade 2 or worse. The prevalence of knee OA was 62.69% in the tibiofemoral compartment. The progression of knee OA was statistically significant, ranging from 17.2% preoperatively to 65.95% postoperatively (p = 0.001) in the medial compartment and from 17.64% preoperatively to 58.82% postoperatively (p = 0.0324) in the lateral compartment. The progression of knee OA in the patellofemoral compartment ranged from 5.26 to 42.10% (p = 0.001). The OA progression regarding BMI was higher into the obese group than the normal-weight group and greater in the degenerative group than the traumatic one. The mean KOOS was 72.01 and the mean WOMAC was 73.84. The Spearman's test showed a statistical significance between clinical and radiographic results. Patients in the obese, overweight, and degenerative tear group had a greater predisposition to OA in the tibiofemoral and patellofemoral compartments after meniscectomy. The level of evidence is III, retrospective study.
Rainbow: Combining Improvements in Deep Reinforcement Learning

The deep reinforcement learning community has made several independent improvements to the DQN algorithm. However, it is unclear which of these extensions are complementary and can be fruitfully combined. This paper examines six extensions to the DQN algorithm and empirically studies their combination. Our experiments show that the combination provides state-of-the-art performance on the Atari 2600 benchmark, both in terms of data efficiency and final performance. We also provide results from a detailed ablation study that shows the contribution of each component to overall performance.
Using Field Experiments in International Relations: A Randomized Study of Anonymous Incorporation1

Abstract Efforts to fight international money laundering, corruption, and terrorist financing depend crucially on the prohibition barring the formation of anonymous shell companies. To study the effectiveness of this prohibition, we perform the first international relations (IR) field experiment on a global scale. With university institutional review board (IRB) clearance, we posed as consultants requesting confidential incorporation from 1,264 firms in 182 countries. Testing arguments drawn from IR theory, we probe the treatment effects of specifying (1) the international standards (managerialism), (2) penalties for noncompliance with these standards (rationalism), (3) the desire to follow norms through complying with international standards (constructivism), and (4) status as a U.S. customer. We find that firms prompted about possible legal penalties for violating standards (rationalism) were significantly less likely to respond to inquiries and less likely to comply with international law compared to the placebo condition. Some evidence also suggests that the constructivist condition caused significantly greater rates of noncompliance. The U.S. origin condition and the managerial condition had no significant effects on compliance rates. These results present anomalies for leading theories and underscore the importance of determining causal effects in IR research.
Studies of Equity Returns in Emerging Markets: A Literature Review

ABSTRACT We review the literature on empirical asset pricing in emerging markets. This literature is quite diverse and almost thirty years old. To make this task manageable, we focus on equity markets, limit the topics to return predictability and volatility modeling, and restrict the review to the set of top journals in finance and journals that specialize in emerging markets.
What Can Laboratory Experiments Teach Us About Emissions Permit Market Design?

The laboratory provides a test bed to inform many design choices for emissions permit markets. Experiments are sometimes strongly motivated and structured by specific theoretical models and predictions, but in other cases the experiment itself can be the model of the market and regulatory environment. We review specific experimental applications that address design issues for permit auction rules, permit expiration dates and banking, liability rules, and regulatory enforcement.