Miracle-dz/UniFAR-FTUs huggingface dataset:
International Market Correlation and Volatility

International correlations for stocks and bonds fluctuate widely over time. As previous studies have found, volatility appears to be contagious across markets. In addition, international correlation increases in periods of high market volatility. Although the correlation of individual foreign stock markets with the U.S. stock market has generally increased slightly over the past 37 years, it has not increased during the past 10 years. Similarly, the international correlation of bond markets increased in the early 1980s, but it has had no discernible trend in the past 10 years. The fairly low levels of international correlation among stocks or bonds suggests that national factors still strongly affect local asset prices. The link between correlation and market volatility is bad news for global money managers because when the domestic market is subject to a strong negative shock is when the benefits of international risk diversification are needed most.
Mining Undominated Association Rules Through Interestingness Measures

The increasing growth of databases raises an urgent need for more accurate methods to better understand the stored data. In this scope, association rules were extensively used for the analysis and the comprehension of huge amounts of data. However, the number of generated rules is too large to be efficiently analyzed and explored in any further process. In order to bypass this hamper, an efficient selection of rules has to be performed. Since selection is necessarily based on evaluation, many interestingness measures have been proposed. However, the abundance of these measures gave rise to a new problem, namely the heterogeneity of the evaluation results and this created confusion to the decision. In this respect, we propose a novel approach to discover interesting association rules without favoring or excluding any measure by adopting the notion of dominance between association rules. Our approach bypasses the problem of measure heterogeneity and unveils a compromise between their evaluations. Interestingly enough, the proposed approach also avoids another non-trivial problem which is the threshold value specification. Extensive carried out experiments on benchmark datasets show the benefits of the introduced approach.
Would Perfect Mobility be Perfect

This paper explores the key normative issues raised by empirical research into social mobility and meritocracy. Typically, sociologists working in this area are motivated by a concern with matters of social justice and equality of opportunity, but that concern tends to be rather vague and diffuse, which makes it difficult to assess the normative relevance of their findings. Surveying, in an accessible manner, five issues familiar to political philosophers that clarify the significance of sociologists' results, this paper explains why a regime of ‘perfect mobility’ is not an appropriate benchmark for evaluating the extent to which a society offers its members social justice or equality of opportunity. Some of the mechanisms that produce an association between the social position of parents and children are unobjectionable and would exist even in an altogether just society. Sociologists do not endorse perfect mobility. But neither are they clear about the variety, and normative significance, of the various mechanisms that tend to generate inequalities in mobility chances.
Equity Undervaluation and Signaling Power of Share Repurchases with Legal Restrictions

This paper analyzes share repurchase programs, which are subject to specific legal restrictions in Taiwan, to determine whether the unique item repurchase price range conveys information regarding the degree of undervaluation and future prospects of a firm. We find that the price range conveys such information, not only about the past, but also the future. Companies with a higher upper bound of the repurchase price range experience better abnormal returns than do companies that do not. The lower bound of the price range does not efficiently convey the undervaluation effect, owing to the exemption clause in the announcement. Finally, the announced price range, in turn, conveys favorable information about the repurchasing firm and is a more powerful signal of future prospects than is the legal price range.
The behavior of analog communication systems

We consider the problem of transmission of analog data over a noisy channel. It is assumed that the channel input is of the form \surd S f(t, X) , where X is an n -dimensional source vector, and S is the allowable transmitted power. The performance of any given modulation scheme f(t, \cdot ) as a function of the transmitted power S is studied. Lower bounds on the average distortion produced by noise for a class of distortion functions are derived. These bounds relate the "smoothness" of modulation techniques to the minimum error that can be achieved with them. It is shown that when the analog source emits a sequence of mutually independent real random variables at a rate of R per second, the mean-square error that is associated with any practical modulation scheme f(t, \cdot) decays no faster than S^{-2} as the signal power S \rightarrow \infty . It follows that in the case of a band-limited additive white Gaussian channel no single modulation scheme f(t, \cdot ) can achieve the ideal rate-distortion bound on the mean-square error for all values of S , if the channel bandwidth is larger than the source rate R .
Juking the Stats? Authoritarian Information Problems in China

Economic statistics inform citizens of general conditions, while central leaders use them to evaluate local officials. Are economic data systematically manipulated? After establishing discrepancies in economic data series cross-nationally, this article examines Chinese sub-national growth data. It leverages variation in the likelihood of manipulation over two dimensions, arguing that politically sensitive data are more likely to be manipulated at politically sensitive times. Gross domestic product (GDP) releases generate headlines, while highly correlated electricity production and consumption data are relatively unnoticed. In Chinese provinces, the difference between GDP and electricity growth increases in years with leadership turnover, which is consistent with juking the stats for political reasons. The analysis points to the political role of information and the limits of non-electoral accountability mechanisms in authoritarian regimes.
Policy Forum : Executive Remuneration : Unravelling the Myths Executive Stock Options : Back to Basics

Financial derivatives have been at the forefront of several notorious financial mishaps (Barings, Metallgesellschaft and Long Term Capital Management), yet remain an enormously popular and powerful mechanism for transferring risk and information among economic agents. These fiascos, resulting from a wide variety of complex reasons, 1 highlight that derivative securities have various risks (for example, periods of illiquidity) that traditional financial modelling has trouble capturing. That said, few argue that such events call for the demise of futures and options markets. Instead, the events led to a widespread movement of firms and investors towards higher diligence in monitoring risk and assessing liquidity. The recent occurrence of corporate scandals has led to a similar backlash against seemingly outlandish compensation packages, especially those given to top executives. By manipulating reported earnings in various legal and/or illegal ways, executives can sell stock holdings they have been given as a form of compensation, at inflated prices. Once the market sees through the smoke (often when the firm becomes insolvent), the stock price dives leaving the longterm shareholder understandably frustrated! Upon observing such behaviour, it is natural to question any factors that encourage this corruption, the most obvious being stock-based compensation. A chief component of such compensation packages is executive stock options (ESOs). The motivation for this article is to take a step back and look at the economic motivation for ESOs. Just as traded options and futures have maintained their economic function, ESOs are not going to, nor should, suddenly disappear. However, we must go back and examine the arguments for the usefulness of ESOs and, in light of these, what steps the firm can take to alleviate any possible problems and economic costs. Any discussion of compensation must deal with the relationship between managers and shareholders; this is the quintessential principal–agent problem in corporate finance. 2
Clinical pharmacology in research, teaching and health care: Considerations by IUPHAR, the International Union of Basic and Clinical Pharmacology.

1. Executive Summary 531 2. Introduction 532 3. Definition of Clinical Pharmacology 533 4. History of Clinical Pharmacology 533 5. The Global Medicine Scene 534 6. Roles of Clinical Pharmacology 535 6.1 Research 535 6.2 Teaching 537 6.3 Patient care 540 6.4 Pharmaceutical industry 542 6.5 Governments 544 7. Organization 546 8. The Relationship with Other Drug Experts 547 9. Emerging Roles of Clinical Pharmacology and Therapeutics: Biologics and Biosimilars 547 10. The Contribution of Clinical Pharmacology to the Global Public Health 548 11. Overview 551 12. Addendum I: Model Core Curriculum for Clinical Pharmacology, Therapeutics and Prescribing for Medical Students 553 13. Addendum II: Model Curriculum for Specialization in Clinical Pharmacology 555 14. References 557 15. Editors and Contributors 558 16. Abbreviations and Glossary 559
The Racial Triangulation of Asian Americans

Recently, the call to go “beyond Black and White” in discussions of race has become something of a mantra in scholarly circles. The conventional trope of “two nations, Black and White”—crafted and reproduced over the past halfcentury by Gunnar Myrdal, the Kerner Commission, Andrew Hacker, and others—seems increasingly outdated as unprecedented levels of Asian and Latin American immigration continue to diversify the U.S. population. While the multiracial composition of the American populace has always given the lie to a bipolar racial framework, these post-1965 demographic changes have thrown the framework’s shortcomings into especially bold relief. But what does it mean to go “beyond Black and White” in thinking about race? As with most ritualistic exhortations, the need to do something is more apparent than how it is to be done. Scholars have adopted two broad approaches to going “beyond Black and White,” both of which, in my view, have certain shortcomings. The first approach, which I call the different trajectories approach, examines racialization (or the creation and characterization of racial categories) as an open-ended, variable process that has played out differently for each subordinated group. Michael Omi and Howard Winant’s discussion of distinct and independent group trajectories—“Native Americans faced genocide, blacks were subjected to racial slavery, Mexicans were invaded and colonized, and Asians faced
Curative cerebrovascular reconstruction with the Pipeline embolization device: the emergence of definitive endovascular therapy for intracranial aneurysms

Endovascular, endosaccular, coil embolization has emerged as an established therapy for both ruptured and unruptured cerebral aneurysms. However, many aneurysms are not cured using conventional endovascular techniques. Coil embolization often results in incomplete aneurysm occlusion or recanalization in the ensuing months after treatment. The Pipeline embolization device (PED; Chestnut Medical) represents a new generation endoluminal implant which is designed to treat aneurysms by reconstructing the diseased parent artery. Immediately after implantation, the PED functions to divert flow from the aneurysm, creating an environment conducive to thrombosis. With time, the PED is incorporated into the vessel wall as neointimal–endothelial overgrowth occurs along the construct. Ultimately, this process results in the durable complete exclusion of the aneurysm from the cerebrovasculature and a definitive endoluminal reconstruction of the diseased parent artery.
Ownership structure, corporate governance and dividend performance on the Ghana Stock Exchange

Purpose - This paper aims to document the interaction between ownership structure, corporate governance and dividend performance on the Ghana Stock Exchange (GSE). Design/methodology/approach - Panel data covering a period from 2002 to 2007 for 23 firms were analyzed within the framework of fixed effects techniques. Findings - The paper reports that foreign share ownership significantly, positively, influences dividend payment among firms on the GSE. It found board size to have a statistically positive effect on dividend payment among the corporate governance variables. It did not, however, find a significant relationship between inside ownership, board independence, board intensity, CEO duality and dividend performance. The results also indicate that highly leveraged firms will significantly reduce dividend payments. Finally, age and income volatility were found to be significant determinants of dividend performance on the GSE. Originality/value - The paper considers a much broader approach to investigating the impact of ownership structure and corporate governance on dividend performance on the GSE, a marked departure from other studies conducted on the GSE.
Kigelia africana Fruits' Extracts anti Hepato-Toxic Effects on Male Wistar Rats Liver Destruction Induced by CCL4

Substances that have a hepato-protective activity are those that can inhibit oxidation to protect the cells of the body from the damaging effects of oxidation. It can bind to free oxygen radicals preventing these radicals from damaging healthy cells. The present study was planned to investigate the effects of aqueous and methanolic extracts of Kigelia africana fruits as hepato protective agent for the liver damage on male Wistar rats. Animals were grouped randomly to seven groups, Group 1 (normal control), Group 2 received CCl4 on 3 rd day. Silymarin were given to rats in group 3 for 5 days and CCl4 induction on 3 rd day. Groups 4, 5 and 6 received methanol extract (100, 200 and 400 mg/kg/day) respectively and group 7 received aqueous extract (400 mg/kg/day) for 5 days and CCl 4 induction on 3 rd day. The control had the higher (p<0.05) body weight gain than all groups (CCl4 control, methanol and aqueous extracts) except silymarin control showed no significant change. The study revealed that, administration of the two extracts (aqueous and methanol) of the plant seeds has a toxic effects which resulted in alterations in Hb, WBCs MCH, MCHC and granulocytes and other hematological parameters, also an alterations in Aspartate Transaminase (AST), Alanine Transaminase (ALT) and Alkaline Phosphatase (ALP) activities and other serological parameters. There were alterations in liver and kidney. No significant lesions were observed in the heart or spleen of the test rats. This study showed that fruits of the plant given to the experimental rats at doses 100, 200 and 400 mg/kg/day orally were toxic but not fatal; the toxicity was characterized by lower body weight gain, alteration in biochemical, hematological and pathological parameters.
Social Norms, Labor Market Opportunities, and the Marriage Market Penalty for Skilled Women∗

In most of the developed world, skilled women marry at a lower rate than unskilled ones. We document heterogeneity across countries in how the marriage market penalty for skilled women has evolved over time. As labor market opportunities for women have improved, the penalty has been growing in some countries but shrinking in others. We propose a theoretical model in which the (negative) social attitudes towards working women might contribute towards the lower marriage rate of skilled women, and might also induce a non-linear relationship between their labor market prospects and their marriage outcomes. The model is suited to understand the dynamics of the marriage market penalty for skilled women over time within a country with set social attitudes towards working women. The model also delivers predictions about how the marriage market penalty for skilled women should react to changes in their labor market opportunities across countries with more or less conservative attitudes towards working women. We test the key assumptions and predictions of this model in a panel of 23 developed countries, as well as in a panel of US states. ∗Research support from the Global Asia Institute JY Pillay Comparative Asia Research Centre Grant is gratefully acknowledged. Maria Dolores Palacios provided excellent research assistance. †Booth School of Business, University of Chicago. Email: marianne.bertrand@chicagobooth.edu ‡Questrom School of Business, Boston University. Email: pcortes@bu.edu §Boston College. Email: claudia.olivetti@bc.edu ¶National University of Singapore. Email: jesspan@nus.edu. sg
Commitment to Innovation: The Impact of Top Management Team Characteristics

Many organizational and environmental factors influence a firm’s commitment to innovation. Among the organizational factors, the perceptual lens of the top management team and the team’s dynamics are posited to have a significant direct impact on the firm’s commitment to innovation. This study revisits the classic arguments of Hayes and Abernathy and empirically examines several of their propositions. The results clearly indicate a positive relationship between the technical orientation of the TMT/CEO and above-average R&D intensity. This effect remains even after controlling for the impact of performance in prior periods and firm diversification. Overall, these results suggest that establishing a high level of commitment to innovation will be promoted or impeded in many organizations because of the predispositions of the CEO and top management team.
Adapting the high performance organization framework to the Thai context

Purpose – The purpose of this study is evaluate whether the high performance organization (HPO) framework can satisfy the recent urgent request of Thai business leaders to create a unique organization which is better able to deal with unpredictable circumstances and increased competition. To establish the suitability of the HPO Framework it first has to be made sure that this framework is applicable to the Thai business context as previous research has shown that management techniques originating from the Western world cannot be indiscriminately transferred into non-Western contexts. Design/methodology/approach – During several workshops and seminars in Bangkok, participants were asked to complete the HPO questionnaire. The collected data were analyzed using a second-order confirmatory factor analysis to evaluate whether the data on the 35 items in the HPO framework group into the five independent factors: continuous improvement, openness and action orientation, management quality, workforce quality and l.
Medically induced euthyroid hypothyroxinemia may extend survival in compassionate need cancer patients: an observational study.

BACKGROUND Clinical studies have shown that interventional lowering of serum free thyroxine (FT4) may be associated with extended survival in patients with some terminal cancers. The report of success with this approach in glioblastoma multiforme caused involvement of the author (A.H.) in the prospective consultative management of 23 end-stage solid tumor patients in whom hypothyroxinemia was induced to prolong life. PATIENTS AND METHODS Patients were self-referred or recommended by attending physicians to the author (A.H.) and had advanced cancers of the brain, ovary, lung, pancreas, salivary gland, and breast or had mesothelioma or soft-tissue sarcoma. Hypothyroxinemia was achieved in euthyroid patients by using methimazole, with the addition of 3,3',5-triiodo-L-thyronine (L-T3) to prevent hypothyroidism and suppress endogenous thyrotropin (TSH). In patients with pre-existent primary hypothyroidism, T3 administration was substituted for T4 replacement. Serum FT4 and TSH concentrations were serially monitored to enable adjustments to drug therapy and prevent clinical hypothyroidism. Survival was measured from the date of hypothyroxinemia induction with T3 or methimazole plus T3. Outcomes were compared with the odds of death based on the Surveillance Epidemiology and End Results and American Joint Committee on Cancer databases and literature reports. RESULTS The survival time of 83% (19 of 23) of patients exceeded the 20% expected 1-year survival for this hypothyroxinemic, end-stage cancer group. The difference between actual and expected survival was significant. CONCLUSION Although this is an uncontrolled observational experience with frank limitations, compassionate medical induction of hypothyroxinemia should be considered for patients with advanced cancers to whom other avenues of treatment are closed.
Road accident external effects: an empirical assessment

The relationship between the number of road accidents and the volume of traffic is econometrically estimated in this paper. A stratified random sample of 399 road segments covering urban and rural roads in New York State(USA) in 1985 is analysed. No significant externality is detected. On ver high volume urban roads the marginal to average accident rate ratio is 1.06. On all other roads, a ratio of 0.98 is estimated. These findings contrast sharply with those of Vickrey, who estimated a ratio of 1.5 for California freeways in 1962. The results are, however, consistent with the ‘official view’ of both the US and UK highway authorities that no significant accident externality exists.
Renal and Cardiovascular Responses to Acute Hypercapnic Acidosis in Conscious Dogs: Role of Renin — Angiotensin

Patients with pulmonary dysfunction and CO2 retention have renal hemodynamic abnormalities accompanied by increased plasma renin activity. To determine if hypercapnia impairs renal function, particularly through the renin-angiotensin system, the effects of acute hypercapnic acidosis (HC), using 8.5% CO2, were measured in five unanesthetized dogs during (a) the intact state; (b) renin-angiotensin antagonism using either 1-sarcosine, 8-glycine angiotensin II ([Sar1, Gly8]AII) or SQ 14,225; and (c) exogenous angiotensin II infusion. As partial arterial carbon dioxide pressure (PaCO2) increased (p < 0.05) from control (C) of 35 ± 1 (SEM) to 48 ± 1 mm Hg during HC, arterial pH fell (p < 0.05) from 7.36 ± 0.01 to 7.24 ± 0.005. Renal function was uncompromised with HC, and glomerular filtration rate (GFR) and urinary sodium excretion increased (p < 0.05) despite a fourfold rise in plasma renin activity from C of 0.6 ± 0.3 to 2.2 ± 0.8 ng AI ml-1 h-1 during HC. Administration of [Sar1, Gly8]AII during HC did not consistently alter systemic or renal hemodynamic responses, and effects of SQ 14,225 during HC were also observed during normocapnia. Although systemic vascular responses to exogenous AII infusion were similar, the renal vasoconstrictor response was antagonized during HC with unchanged GFR and renal blood flow. These findings indicate that despite activation of the renin—angiotensin system, acute hypercapnic acidosis is unassociated with impairment of renal function in unanesthetized dogs. This may be related to diminished renal vascular AII responsiveness during hypercapnia.