Miracle-dz/UniFAR-FTUs huggingface dataset:
Relationship between executive compensation and financial performance of commercial state owned enterprises in the energy sector in Kenya

Purpose - This paper focused on the relationship between executive compensation and financial perfomance of commercial state owned corporations in the energy sector in Kenya Methodology - This study adopted a cross - sectional research design. Secondary data on net income, total assets and executive compensation were extrated from the individual company published financial statements for a five year period Findings - The study finds weak negative relationship between executive compensation and financial performance. Regression analysis models infer that 38.9% and 45.2% of variations in financial performance of the commercial state owned firms is explained by variations in the firm size and by variations in both the firm size and the levels of executive compensation respectively. The study found that any unit increase in firm size has a commensurate decline in ROA for the firms to an extent of 0.059 and a unit increase in executive compensation has a commensurate decline in ROA for the firms to an extent of 0.027. Implication – the findings imply that there is no increased value for higher executive compensation in the public sector corporations. Thus, Corporations boards should re evaluate the comensation to justify value for the executive pay levels. Value – It is recomended that there be harmonization and review of the executive renumeration system to include pay for performance perks and to rationalize productive capacity of assets acquired to ensure they are utlized in value creation
Corporate Governance and Earnings per Shares: A Study of Sri Lankan Manufacturing Companies

Good corporate governance practices are important in reducing risk for investors, attracting investment capital and improving the performance of companies. This study is initiated on “corporate governance and firm performance” with the samples of 26 listed manufacturing companies in CSE. Data was analyzed using the data representing the periods from 2009 to 2014. Board size, board meeting, executive directors, non-executive directors were used as the determinants of corporate governance whereas earnings per share (EPS) is used as a measure of firm performance. Hypotheses were tested using SPSS statistical software. According to the finding of the research corporate governance make a significant influence on companies EPS. Thus, study concludes that the determinants of corporate governance used in the study are correlated to the performance measures of the organization.
Social responsibility, consumption and production patterns in textile and cloth industry in Poland

The beginning of the systemic transformation was a period of structural challenge for Polish industry. In case of the textile industry it meant almost total collapse. Polish textile and clothing enterprises were supplanted by producers offering products of often poor quality, mainly from Asia. This paper presents results of research carried out in years 2014-2015 among young customers (up to 32 years of age), and entrepreneurs from textile and clothing industry in the Lodz voivodeship concerning the concept of social responsibility. The results of survey enable to formulate the conclusion, that the textile industry in Poland is able to meet the high standards of corporate social responsibility. Although it is still common practice in clothing industry to offer very low wages, labour in the informal economy and the lack of stable employment guarantees, it is possible to find factories operating in accordance with the CSR standards. However, young generation of customers shows little interest in socially responsible purchase of clothes, due to of lack of knowledge about social responsibility of producers and consumers. This attitude changes, if only customers become aware of the consequences of socially irresponsible behaviour of producers.
A risk assessment approach on electrical substation for dispatching operation

Based on the fact about self-regions in current power system, a new topology regions method is firstly proposed. Then a new comprehensive risk assessment method on electrical substation for dispatching operation is presented, in which the risk of bus system arrangement and equipment operation state within a substation and the overall topology of a substation during a whole power system are all considered. Finally, the correctness and effectiveness of this method are tested by the utilization in a real power system.
Proton magnetic resonance spectroscopy of the medial prefrontal cortex in patients with deficit schizophrenia: preliminary report.

OBJECTIVE Proton magnetic resonance spectroscopy (1H-MRS) was used to study medial prefrontal metabolic impairments in schizophrenic patients with the deficit syndrome. METHOD The subjects were 22 schizophrenic patients categorized as deficit (N=5) or nondeficit (N=17) and 21 healthy subjects. (1)H-MRS was performed for the right and the left medial prefrontal cortex. RESULTS The patients with the deficit syndrome had significantly lower ratios of N-acetylaspartate to creatine plus phosphocreatine than did the healthy subjects or nondeficit patients. CONCLUSIONS As N-acetylaspartate levels could reflect neuronal density and/or viability, this finding suggests a neuronal loss in the medial prefrontal cortex of deficit patients.
Prognostic factors for survival in metastatic renal cell carcinoma: retrospective analysis from 109 consecutive patients.

OBJECTIVE Metastatic renal cell cancer (RCC) portends a bad prognosis, but survival is quite different among different patients. The objective of this study was to determine prognostic factors for survival with the aim to offer patients proper therapeutic options. METHODS A consecutive series of 109 metastatic RCC patients admitted to our department since 1988 was reviewed, and survival from the time of diagnosis with metastases recognition was considered. The role of age, sex, disease-free interval (DFI), ECOG performance status (PS), stage at diagnosis, grading, number and type of metastatic sites, nephrectomy, blood levels of hemoglobin, creatinine, albumin, calcium, lactate dehydrogenase (LDH), ferritin, alkaline phosphatase, triglycerides was assessed in univariate and multivariate analysis. RESULTS In our study, the following variables were found to be statistically significant at the univariate analysis (p < 0.01): DFI, ECOG PS, stage at diagnosis, grading, nephrectomy, sites of metastases, blood hemoglobin, serum albumin, calcium, LDH, alkaline phosphatase. Indeed, only an ECOG PS of 2-3 (relative risk 1.82; p = 0.003) and blood hemoglobin levels < or = 10 g/100 ml (relative risk 1.20; p = 0.017) retained their value as independent risk factors for poor survival at multivariate analysis. According to the number of independent risk factors, three groups of patients were identified, with significantly different median survival (21.7 vs. 8.6 vs. 3.5 months; log-rank test: p = 0.00004, p = 0.04126 and p = 0.00047, respectively). CONCLUSIONS Poor performance status and anemia at diagnosis of metastatic RCC predict the worst outcome in our series. These factors could be taken into account to stratify patients in clinical trails and to select the proper treatment option in oncological practice.
Strangers in a strange land: strategy development for diminishing liabilities of newness and foreignness in transnational entrepreneurial companies

6 NOTATION: USE OF ACRONYMS . 16 LIST OF FIGURES . 17 LIST OF TABLES . 18 LIST OF APPENDICES . 19 CHAPTER ONE . 20 Introduction . 20 1.1 Background of the research . 20 1.2 Research Motivation . 22 1.3 Theoretical Background . 24 1.4 Research objectives . 27 1.5 Research approach and study design . 28 1.6 The field of observation . 29 1.7 Structure of the thesis . 31 CHAPTER TWO . 34 Theoretical Background . 34 2.
Institutional Ownership, Income Smoothing and the Value-relevance of Accounting Numbers

The active monitoring hypothesis provides evidence that firms with higher institutional ownership are less likely to manage earnings, which in turn, enhances the value-relevance of accounting numbers. Yet, recent studies also highlight the importance of explicitly considering the short-term oriented investing behavior of institutional investors (the myopia hypothesis) when investigating the association between institutional ownership and managerial earnings reporting. Thus, the role of institutional investors in managerial earnings reporting remains an open question. Based on the informative association between income smoothing and the value-relevance of financial reporting, this study uses the unbalanced-panel data regressions to examine the monitoring or myopia role of institutional investors on the association between income smoothing and the value-relevance of accounting numbers. The empirical results to some extent support the monitoring hypothesis that the higher institutional ownership is, income smoothing generates more value-relevance of both earnings and equity book value. Moreover, in the income smoothing with higher institutional ownership/lower ownership volatility case, it reveals that the increasing value-relevance of earnings is enhanced. However, in the income smoothing with lower institutional ownership/higher ownership volatility case, it is found that the increasing value-relevance of earnings is mitigated. This study also documents that the role of institutional ownership on the association between income smoothing and the value-relevance of equity book value is unobvious in the analysis, both in the high and low ownership volatility cases. We demonstrate some diagnostic checks and evidence the results are robust to the various specifications.
Computational time-resolved imaging

Classical photography uses steady-state illumination and light sensing with focusing optics to capture scene reflectivity as images; temporal variations of the light field are not exploited. This thesis explores the use of time-varying optical illumination and time-resolved sensing along with signal modeling and computational reconstruction. Its purpose is to create new imaging modalities, and to demonstrate high-quality imaging in cases in which traditional techniques fail to even form degraded imagery. The principal contributions in this thesis are the derivation of physically-accurate signal models for the scene’s response to timevarying illumination and the photodetection statistics of the sensor, and the combining of these models with computationally tractable signal recovery algorithms leading to image formation. In active optical imaging setups, we use computational time-resolved imaging to experimentally demonstrate: non line-of-sight imaging or looking around corners, in which only diffusely scattered light was used to image a hidden plane which was completely occluded from both the light source and the sensor; single-pixel 3D imaging or compressive depth acquisition, in which accurate depth maps were obtained using a single, non-spatially resolving bucket detector in combination with a spatial light modulator; and high-photon efficiency imaging including first-photon imaging, in which high-quality 3D and reflectivity images were formed using only the first detected photon at each sensor pixel despite the presence of high levels of background light. Thesis Supervisor: Jeffrey H. Shapiro Title: Julius A. Stratton Professor of Electrical Engineering Massachusetts Institute of Technology Thesis Supervisor: Vivek K Goyal Title: Assistant Professor of Electrical and Computer Engineering Boston University
Global Entrepreneurship Monitor 2011 Global Report

The GEM 2011 Global Report focuses on entrepreneurs and entrepreneurial employees across the globe. More than 140, 000 adults (18–64 years of age) in 54 economies, spanning diverse geographies and a range of development levels were surveyed. Based on this survey, GEM estimated that 388 million entrepreneurs were actively engaged in starting and running new businesses in 2011
Brexit and Short-Selling Disclosures

The unexpected result of the referendum on the Brexit was followed by the highest number of disclosures of short-selling positions since the enforcement of the European short-selling disclosure regime in the UK. This paper analyzes the disclosures of short positions which took place around the Brexit and shows the distribution and magnitude of reported short positions per sector. From the data, it emerges that among short-sellers the Brexit outcome was not expected, and that the sectors where the short-sellers expected the biggest losses following the Brexit are the sectors that are severely affected by the loss of value of the British Pound, namely the travel, construction, food, and retail sector.
Mandatory Disclosure of Audit Engagement Partners: Insights from Practice

This study investigates whether disclosure of individual audit engagement partners (AEPs or ‘partners’) improves audit quality through increased transparency. We examine effects of the disclosure in an experimental market and investigate whether greater transparency incentivizes AEPs to build individual reputations for quality distinct from their firms. When transparency is at the partner level (i.e., AEP is publicly-known), we find quality is higher (partners exert more effort and report less aggressively) and partners accept higher-risk clients than when transparency is at the firm level (i.e., AEP is not publicly-known). We also explore the effects of increased transparency from the financial statement/audit report users’ perspective and find users have more confidence, exhibited by willingness to bid higher when transparency is at the partner level than at the firm level. Our findings provide evidence of partners’ and users’ responses to the new AEP disclosure rule and implications of AEP disclosure for audit quality.
Advanced therapy medicinal products: current and future perspectives

Background Advanced therapy medicinal products (ATMPs) are innovative therapies that encompass gene therapy, somatic cell therapy, and tissue-engineered products. These therapies are expected to bring important health benefits, but also to substantially impact the pharmaceuticals budget. Objective The aim of this study was to characterise the ATMPs in development and discuss future implications in terms of market access. Methods Clinical trials were searched in the following databases: EudraCT (EU Drug Regulating Authorities Clinical Trials), ClinicalTrials.gov, and ICTRP (International Clinical Trials Registry Platform of the World Health Organization). Trials were classified by category of ATMP as defined by European regulation EC No. 1394/2007, as well as by development phase and disease area. Results The database search identified 939 clinical trials investigating ATMPs (85% ongoing, 15% completed). The majority of trials were in the early stages (Phase I, I/II: 64.3%, Phase II, II/III: 27.9%, Phase 3: 6.9%). Per category of ATMP, we identified 53.6% of trials for somatic cell therapies, 22.8% for tissue-engineered products, 22.4% for gene therapies, and 1.2% for combined products (incorporating a medical device). Disease areas included cancer (24.8%), cardiovascular diseases (19.4%), musculoskeletal (10.5%), immune system and inflammation (11.5%), neurology (9.1%), and others. Of the trials, 47.2% enrolled fewer than 25 patients. Due to the complexity and specificity of ATMPs, new clinical trial methodologies are being considered (e.g., small sample size, non-randomised trials, single-arm trials, surrogate endpoints, integrated protocols, and adaptive designs). Evidence generation post-launch will become unavoidable to address payers’ expectations. Conclusion ATMPs represent a fast-growing field of interest. Although most of the products are in an early development phase, the combined trial phase and the potential to cure severe chronic conditions suggest that ATMPs may reach the market earlier than standard therapies. Targeted therapies have opened the way for new trial methodologies, from which ATMPs could benefit to get early access. ATMPs may be the next source of major impact on payers’ drug budgets.
Assessment and treatment of glenohumeral joint deformities in children suffering from upper obstetric brachial plexus palsy

We present our approach to gleno-humeral joint deformities as sequelae from severe upper obstetric brachial plexus palsy. In 50 consecutive children with severe medial rotation contracture of the shoulder after obstetric brachial plexus palsy, we used magnetic resonance imaging to evaluate joint incongruence and dysplasia; showing frequently various deformities of the glenoid, the humeral head and pathologic changes in their relationship. The most severe deformity is true glenohumeral dysplasia. These diagnostic findings might influence our choice and technical details within surgical procedures. We actually evaluate image processing tools (segmentation software) for a better understanding of changes in anatomical structures responsible for this multifactorial joint deformity, limiting lateral and/or medial rotation of the glenohumeral joint in children with obstetric brachial plexus palsy.
A longitudinal analysis of the changing roles of gender in advertising: a content analysis of Super Bowl commercials

Although the prevalence of gender stereotypes in advertising is well established, relatively little research has examined gender stereotypes in the context of Super Bowl that is arguably the most important event in US television advertising. This study systematically examines gender representations across various product categories in Super Bowl commercials over a 20-year period (1990–2009). Our findings detect and discuss shifts in the cultural notions of gender constructed in advertising messages targeting the largest and the most demographically diverse audience in US television. The paper concludes with a discussion of the theoretical and managerial implications of our findings.
Acquisition Finance: Are European Companies Different?

The authors follow the methodology of a U.S.-based study to compare determinants of the financing choices of European and American acquirers. Differences in bank dependence and ownership concentration between Europe and the U.S. are potentially important for the financing decision.The authors' results indicate that information asymmetry and corporate control issues explain the high incidence of payment using cash rather than stock in Europe. In contrast to their U.S. counterparts, European acquirers do not use acquisition finance to get closer to their optimal capital structure. They also time the market by paying with stock when shares are overvalued.
Strategic directions, innovation capacity and entrepreneurial firm performance in high-tech SMEs, UK

With increased technological changes, global competition and a changing business environment, innovation and entrepreneurship are becoming vital issues in technology-based Small and Medium-sized Enterprises (SMEs). On the other hand, technology based SMEs are playing a key role in the business environments in all developed and emerging economies. However, the failure rates of such small businesses in almost all economies are very high. Recently, the role of innovation capacity in developing new products and services for SMEs operating in the high-tech sector became of interest to academics and practitioners. Also developing new products and services became one of the critical success factors for SMEs, which in turn increases entrepreneurial firm performance. The main objective of this research is to investigate the moderating role of innovation capacity on the relationship between product and market development strategy and entrepreneurial firm performance in high-tech sector SMEs in the UK. The conceptual framework of this study has been developed based on synthesizing the existing literature in the subject field. It links the product and market development strategy perused by technology based firms in the biotechnology, pharmaceutical and software development industries with firms’ innovation capacity and entrepreneurial performance. This research benefits from quantitative methodology. A quantitative study using a survey was the chosen method of research and was felt justified due to the number of SMEs and their widespread geographical distribution across the UK. The primary data have been collected via questionnaires. To analyze the questionnaires, a five point Likert-type scale was used to evaluate respondent opinion. The main conceptual framework developed and tested empirically in this research proposes that small and medium enterprises could improve and enhance their entrepreneurial performance if they pursue product development rather than market development strategy. The changing nature of the high-tech industry requires innovative and strategic thinking approaches in firms when it comes to making strategic decisions. Innovation is a core element in technology-based SMEs success. It is concluded that high performance firms act aggressively in developing new products in preference to entering into new markets. It has also been found that successful firms enhance innovation capacity to create the foundation for new product design and development
Managerial Risk-Taking Incentive and Firm Innovation: Evidence from FAS 123R

We investigate how chief executive officers’ (CEOs) risk incentive (VEGA) affects firm innovation. To establish causality, we exploit compensation changes instigated by the FAS 123R accounting regulation in 2005 that mandated stock option expensing at fair values. Our identification tests indicate a positive and causal effect of CEOs’ VEGA on innovation activities. Furthermore, dampened managerial risk-taking incentive after the implementation of FAS 123R leads to a significant reduction in innovation related to firms’ core business and explorative inventions. It implies that managers diversify their innovation portfolios and decrease explorative inventions to curtail business risk when their risk-taking incentive is reduced.
Erythema nodosum in Israeli children.

BACKGROUND Erythema nodosum, although uncommon in children, is the most frequent form of panniculitis in pediatrics. EN has been associated with various infections and chronic inflammations, and its course varies with age, gender, and racial and geographic factors. There is no information on EN in Israeli children. OBJECTIVES To examine the clinical course of EN and the conditions with which it is associated in Israeli children. METHODS We conducted a retrospective study of 24 children with a diagnosis of EN who presented at our Center over a 10 year period (1989-98). RESULTS EN was more frequent in females than males (ratio 2:1) due to a cluster of adolescent girls. The mean duration of the skin manifestation was 18 days. The course was benign in all patients. Streptococcal infection was the most common cause (25%), followed by Epstein-Barr virus infection (18%) and inflammatory bowel disease (13%). In one-third of cases, no specific cause could be identified. Tuberculosis, an important cause of EN in the past, was not found in our patients. CONCLUSIONS Most cases of EN in Israeli children are related to streptococcal and EBV infections or to chronic inflammatory conditions. Despite the increase in tuberculosis morbidity in Israel during recent years, we found no association of EN and tuberculosis in our study.