Miracle-dz/UniFAR-FTUs huggingface dataset:
Corporate reporting of intellectual capital: evidence from the Bangladeshi pharmaceutical sector

Purpose - – The purpose of this paper is to provide an understanding of the intellectual capital (IC) reporting practices of the Bangladeshi pharmaceutical industry, one of the most significant industries to the Bangladeshi economy. It investigates the extent and qualitative characteristics of IC disclosures made by listed pharmaceutical companies in Bangladesh. Design/methodology/approach - – Data are gathered through a content analysis of the 2006 annual reports of 16 pharmaceutical companies quoted on the Dhaka Stock Exchange. The content analysis is performed by IC topic (i.e. categories and subcategories) and three semantic properties of IC disclosure: first, format (i.e. discursive, numerical but non-monetary, numerical-monetary and visual); second, news-tenor (i.e. positive, neutral and negative); and three, time-orientation (i.e. forward-looking, non-time-specific and past-oriented). Findings - – Results suggest a clear awareness among the Bangladeshi pharmaceutical companies of the significance of IC in corporate value creation and a commitment to publicly communicating IC. Some evidence is found of the need to manage stakeholder relationships, and legitimacy and impression management motives underpinning the management's desire to disclose IC. Also, proprietary cost theory explains the variation in the disclosure of types of IC. The Bangladeshi pharmaceutical companies did not adopt a consistent framework for IC reporting. A lack of consistency in reporting IC was also evident as the extent and subcategories of IC disclosures varied among companies. The findings indicate the Bangladeshi pharmaceutical companies may not have properly measured and managed their IC. Research limitations/implications - – There are two main limitations specific to this study. First, it only provides a snapshot of IC disclosure practices of Bangladeshi pharmaceutical companies in 2006. Changes may have taken place since then that would have affected the IC-intensity and IC utilisation of these entities. Second, the study's sample is limited due to its focus on one industry. However, it is representative of the population as it includes more than two-thirds of Bangladeshi pharmaceutical companies. This limitation affects the ability to conduct statistically meaningful analyses for testing any hypotheses relating to IC disclosure. Originality/value - – This is the first study on IC reporting practices of Bangladeshi pharmaceutical companies. Unlike most prior studies on IC disclosure practices, this study measures the quality of disclosures by analysing their semantic properties. The paper highlights the need for building organisational competencies in managing, measuring and reporting IC in Bangladesh.
Competition and substitutability in the Swedish pharmaceuticals market

Substitution possibilities between brand name pharmaceuticals are analysed. The analysis is based on data from three different markets; the prescription drug market for beta-blocking agents, the ‘over the counter’ market for purgatives and the hospital market for two pharmaceutical treatments for gastric ulcers. The results indicate that there exist some substitution possibilities among the brand name drugs included in the study.
The Product Life Cycle in the Commercial Mainframe Computer Market, 1968-1982

We investigate product life cycles in the commercial mainframe computer market. We use hazard models with time-varying covariates to estimate the probability of product exit and Poisson models to estimate the probability of introduction. We measure the importance of different aspects of market structure, such as the degree of competitiveness, cannibalization, vintage, product niche, and firm effects. We find evidence of a relationship between the determinants of product exit and product entry.
An evaluation of city-to-city learning in the campaign Making Cities Resilient - matching criteria and implementation

This thesis evaluates the UNISDR led campaign Making Cities Resilient and specifically investigates how cities are matched within the campaign’s initiative city-to-city learning, which factors that may be conducive for successful partnerships as well as whether the participating cities implements activities in accordance with the rights-based approach. The evaluation is partly based on a literature review as well as primary data stemming from qualitative, semi-structured interviews with representative from UNISDR as well as cities participating in the Campaign. The evaluation on how cities are matched showed that UNISDR does not have any formalized structure or strategy that could guide them in this process and that it, hence, was done in ad hoc ways, including direct contacts between cities without the support of UNISDR. The evaluation further showed that important factors for successful partnerships include having a clear purpose and expectations, be willing to participate and open to share ideas, to have a similar mind-set and to acquire knowledge about the other city’s local context. The analysis of the implementation of activities was done by using indicators of the rights-based approach which builds upon key principles, such as empowerment, participation, equality and non-discrimination as well as accountability. The interviews indicated that the cities to a large extent implemented activities in line with a rights-based approach even though they were not aware of it as a theoretical approach. Further, the thesis supports UNISDR’s own perception that focus now has to be put on elaborating practical advice on the implementation of activities in order to reach the objectives of the Campaign.
The Role of Psychographic Factors in Nature-Based Tourist Expenditure

Numerous studies have examined the relationship between tourist expenditure and observable characteristics of the individual and the trip. We add latent variables based on psychographic factors into a model of expenditure by nature-based tourists. This study models the log of per person trip expenditure by domestic and international visitors in a Norwegian alpine national park region as a function of psychographic factors as well as traditional measures of trip and demographic characteristics. In the regression models, factor scores were utilized from nature orientation, recreation experience preference (REP), a new ecological paradigm (NEP) and wilderness preference (WPS) scales. Higher scores on a NEP environmentalism factor were associated with higher expenditure, while higher scores on a REP risk seeking factor were associated with lower expenditure. Higher scores on a risk seeking, or challenge factor, from the nature orientation scale was associated with lower expenditure, while higher scores on an inspiration seeking factor were associated with higher expenditure. Structural equation models were then estimated for comparison. The implications for tourism management and marketing are discussed.
Financial Analysts? Earnings Forecast Dispersion and Intraday Stock Price Variability Around Quarterly Earnings Announcements

This study investigates the relationship between the dispersion of analysts' earnings forecasts and stock price variability around quarterly earnings announcements. Consistent with theoretical predictions, the empirical analysis shows that stock price variability at the time of earnings announcements is positively related to the degree of analysts' predisclosure earnings forecast dispersion. Additionally, firms with high levels of forecast dispersion exhibit significant increases in price variability for longer periods prior to and following earnings announcements than do firms with low levels of forecast dispersion. These results suggest that there is information about the earnings announcement that becomes available to at least a subset of investors prior to the earnings release and that market participants take different amounts of time to process the information conveyed by the earnings announcement. Copyright 2000 by Kluwer Academic Publishers
Local Expenditure Interaction in Italian Municipalities: Do Local Council Partnerships Make a Difference?

Abstract This paper investigates interdependence among local councils in Italy in their public spending and distinguishes between possible sources of this interdependence. We find significant positive interaction among neighbouring local councils in regard to both spending at the level of total expenditure and spending on different sub-categories. Attempts to identify the source of this horizontal interaction seem to reject the yardstick competition hypothesis. Addressing the role that local council partnerships may play in internalising fiscal externalities, we suggest that expenditure interaction may be driven by spill-over.
Determinants of Capital Structure in Indian Manufacturing Sector

This article is an attempt to analyse the important determinants of capital structure in Indian manufacturing industries in the last decade. Over the past several years, financial economists and researchers have worked to bring more of scientific and predictive understanding in corporate finance; this has been done by preparing formal theories that can be tested by empirical studies of corporate and stock market behaviour. But this brings us to the most important issue to developing a well-defined and exhaustive theory of capital structure which also finds applicability in an actual market scenario and designing empirical tests that are powerful enough to provide a basis for choosing among the various theories. In several competing theories, researchers have given their perspective in the form of theories, since Modigliani and Miller’s famous propositions on the capital structure, to test the ground realities of capital market imperfections such as taxes, bankruptcy costs, agency costs and information asymmetries. Therefore, the determinants of the capital structure of companies have been debated for long in corporate finance. To bring more clarity on it, this research attempts to test the important determinants of the capital structure of companies.
The Economic Theory of Price Discrimination via Transactions Bundling: An Assessment of the Policy Implications

This paper discusses specific cases in financial regulation, competition law and legal rules in procurement, in light of the economic concept of the efficiency of mixed bundling as derived in our theoretical models. We assess the appropriateness of the existing rules, and also discuss whether there is a need to reform specific legal or regulatory rules in light of the efficiency discussion. We examine the U.S. legal and regulatory framework in government procurement, the offsets case, and finally we look into financial regulation in the case of bundled brokerage and soft commission arrangements on both sides of the Atlantic. The novelty of our models is that we analyze transactions mixed bundling in the cases of monopoly, monopsony and exchange. Additionally, for the cases of monopsony and exchange we consider goods of varying degrees of quality certainty. The common result is the local optimality of the bundling of transactions in terms of expected profits for the price-setting firm, and an overall increase in the level of trade in the goods bundled. In the real-life cases examined, we found that in most instances the authorities have decided that if the practice of pure bundling is present, to replace it with mixed bundling, rather than ban bundling altogether. This practice is correct, as according to our models mixed bundling is efficiency-enhancing (both in profits and in trade volumes). On the other hand, the policy implications derived from our models based on the presence of quality uncertainty suggest that allowing the bundling of dissimilar tasks is beneficial rather than damaging to trade, especially if the goods bundled are of diverse degrees of quality certainty. This is at odds with the current legal and regulation approach to bundling practices.
Expression and cell membrane localization of catenins during mouse preimplantation development

We have studied transcription, expression, and membrane localization of components of the E‐cadherin‐catenin complex stage by stage during mouse preimplantation development. Maternal E‐cadherin and α‐ and β‐catenin are stored as mRNA and/or protein in unfertilized eggs and are already assembled into a protein complex at this stage. After fertilization, it is likely that they mediate adhesion of early‐stage blastomeres. Biosynthesis of plakoglobin is delayed relative to the other components. The temporal mRNA and protein expression patterns of the components of the cadherin‐catenin complex correlate with the presence or absence of potential cytoplasmic polyadenylation elements (CPEs) in the 3′‐UTRs of the respective cDNAs. Our results suggest that the components of the E‐cadherin‐catenin complex derived from both maternal and zygotic gene activity are increasingly accumulated and stored in a nonfunctional form during early cleavage stages and are ready to be used for compaction and the formation of the trophectodermal cell layer. © 1996 Wiley‐Liss, Inc.
Cardioprotective Effects of Transforming Growth Factor-&bgr;1 During Early Reoxygenation or Reperfusion Are Mediated by p42/p44 MAPK

Apoptosis contributes to myocardial cell death during ischemia and reperfusion, especially during reperfusion. Growth factor “survival” signaling attenuates apoptosis. We therefore examined the effects of transforming growth factor-&bgr;1 (TGF-&bgr;1) on reperfusion injury and assessed the role of p42/p44 MAPK signaling in TGF-&bgr;1–induced protection. Rat ventricular myocytes were subjected to hypoxia and reoxygenation. TGF-&bgr;1 (0.2 ng/ml) was applied to cells during reoxygenation and the extent of apoptosis was determined by TUNEL and annexin V binding assays. Further studies were conducted in intact rat hearts subjected to regional ischemia and reperfusion. TGF-&bgr;1 (0.2 ng/ml) was perfused during early reperfusion. In cells, incubation with TGF-&bgr;1 (0.2 ng/ml) during reoxygenation attenuated the extent of cell membrane damage (trypan blue uptake) and also reduced the numbers of TUNEL-and annexin V–positive cells. Reduction of apoptosis was abrogated by PD98059 (5 &mgr;M), an inhibitor of p42/p44 MAPK activation. TGF-&bgr;1 activated p42/p44 MAPK transiently in normoxic myocytes. When intact hearts received TGF-&bgr;1 (0.2 ng/ml) during early reperfusion, infarct size was reduced from 39.4 ± 3.1% to 17.3 ± 3.1% (p < 0.01). This protective action of TGF-&bgr;1 was abrogated by PD98059. These studies are the first to show that TGF-&bgr; attenuates cardiac myocyte apoptosis during early reperfusion and limits infarct size through p42/p44 MAPK activation.
An inflatable hemispherical multi-touch display

In this paper, we introduce a multi-touch display surface that can be dynamically deformed from a flat circular display to a convex or concave hemispherical display. A rubber latex material is used for the display surface allowing it to inflate or deflate as air is pumped into or out of an airtight container. The elasticity of the display surface also allows users to deform the surface by varying the pressure exerted on it. This deformation may be detected by the device and provides a z-axis input in addition to the typical x,y-axis inputs of flat-screen displays.
Reassessing the Influence of Party Groups on Individual Members of the European Parliament

This paper reassesses the way in which the voting behaviour of individual members of the European Parliament (EP) is influenced by their national and European party delegations. It does so within the previously used framework of one agent with two principals. First, it shows that the previous literature was unable to fully fathom the mechanisms through which the tripartite principal–agent relationship works. Second, it develops a model that looks solely at the votes contested between the European and the national group and the results of the test correct many of the findings of the previous literature. The paper also develops a new theoretical framework of vote cohesion in which the national and European groups are motivated by group norms and external incentives. Finally, the analysis of roll-call votes from the sixth EP finds that the new members from Central and Eastern Europe are more likely to stay with their European group than the members from Western Europe.
Recent advances in intestinal lymphomas

A large variety of lymphoma types may develop as primary intestinal neoplasms in the small intestines or, less often, in the colorectum. Among these are a few entities such as enteropathy‐associated T‐cell lymphoma or immunoproliferative small intestinal disease that, essentially, do not arise elsewhere than in the gastrointestinal tract. In most instances the primary intestinal lymphomas belong to entities that also occur in lymph nodes or other mucosal sites, and may show some peculiar features. In the case of follicular lymphoma, important differences exist between the classical nodal cases and the intestinal cases, considered as a variant of the disease. It is likely that the local intestinal mucosal microenvironment is a determinant in influencing the pathobiological features of the disease. In this review we will present an update on the clinical, pathological and molecular features of the lymphoid neoplasms that most commonly involve the intestines, incorporating recent developments with respect to their pathobiology and classification. We will emphasize and discuss the major differential diagnostic problems encountered in practice, including the benign reactive or atypical lymphoid hyperplasias, indolent lymphoproliferative disorders of T or natural killer (NK) cells, and Epstein–Barr virus (EBV)‐related lymphoproliferations.
International Value and Growth Stock Returns

The returns obtained from portfolios of stocks with high price/book ratios ("growth" stocks) and those obtainedfrom portfolios of stocks with low price/book ratios ("value" stocks) were analyzed for six countries over the period from January 1981 through June 1992. Results suggest the existence of a sign/ifcant "value-growth factor" in each country. The returns on portfolios forned according to the valuegrowth factor difer far more from month to month than would be expected if the securities had been selected randomly.
Recent fertility dynamics in China: results from the 1987 One Percent Population Survey.

There has been considerable speculation about the effects of Chinas economic reforms on recent trends in fertility. This article uses data from a 1987 survey the 1st detailed national-level data since the 1982 census and 1/1000 survey to analyze recent fertility change. The total fertility rate shows no overall trend since the late 1970s fluctuating around 2.4 children per woman. Sharp fluctuations in age distribution and marriage patterns render the crude birth rate an unreliable indicator. Parity progression ratios suggest that the overall trend has been toward slightly increasing numbers of 1-child families. Implications for policy and programs are discussed as are possible reasons for the halt of fertility decline at current levels. (authors)
Expression of claudin-3 and claudin-4 in normal, hyperplastic, and malignant endometrial tissue

To clarify the roles of claudins in endometrial tumorigenesis, we determined levels of protein and messengerRNA (mRNA) expression of claudin-3 and claudin-4 in human endometrial tissue (proliferative phase [PE, n= 25]; secretory phase [SE, n= 25]; simple hyperplasia [SH, n= 20]; complex hyperplasia [CH, n= 12]; atypical hyperplasia [AH, n= 15]; endometrioid adenocarcinoma [EEC, n= 30]) using immunohistochemistry, western blotting, and real-time polymerase chain reaction, respectively. Morphologic changes of tight junctions (TJs) were also observed in normal, hyperplastic, and malignant endometrial tissue. Absence or weak staining for claudin-3 and claudin-4 was observed in PE, SE, SH, and CH, while medium to intense staining was detected in AH and EEC. Staining of claudin-3 and claudin-4 was predominantly localized to the glandular epithelial cell membrane. Expression of claudin-3 and claudin-4 was significantly increased in the groups of AH and EEC in comparison with the groups of CH, SH, and normal cyclic endometrium at both protein and mRNA levels. The highest expression was observed in EEC. Although no relevance was found with regard to FIGO stage and histologic grade, overexpression of claudin-3 and claudin-4, especially claudin-4, significantly correlated with myometrial invasion. Transmission electron microscopy analysis indicated morphologic disruptions of TJs may lag behind the increase of claudins expression. These results demonstrate that claudin-3 and claudin-4 are strongly expressed in AH and EEC, but less frequently in normal endometrium. The upregulation of claudins expression during endometrial carcinogenesis suggests their potential utility as diagnostic and prognostic biomarkers.
Unemployment persistence: the case of Sweden

An unobserved components time-series model is used to examine the persistence in Swedish unemployment. Three sources of unemployment persistence are identified: natural rate shocks; hysteresis; and persistent cycles. Hysteresis effects are modelled by allowing cyclical unemployment to have a lagged effect on the natural rate. The evidence suggests that the course of unemployment in Sweden has mainly been determined by natural rate shocks. This is especially the case for the large increase during the early 1990s, but also for the smaller changes between 1970 and the late 1980s. Hysteresis effects are also present but they are less important because of the relatively small cyclical changes.
Penalized regression models with autoregressive error terms

Penalized regression methods have recently gained enormous attention in statistics and the field of machine learning due to their ability of reducing the prediction error and identifying important variables at the same time. Numerous studies have been conducted for penalized regression, but most of them are limited to the case when the data are independently observed. In this paper, we study a variable selection problem in penalized regression models with autoregressive (AR) error terms. We consider three estimators, adaptive least absolute shrinkage and selection operator, bridge, and smoothly clipped absolute deviation, and propose a computational algorithm that enables us to select a relevant set of variables and also the order of AR error terms simultaneously. In addition, we provide their asymptotic properties such as consistency, selection consistency, and asymptotic normality. The performances of the three estimators are compared with one another using simulated and real examples.
The interactive effects of age, education, and BMI on cognitive functioning

Abstract We examined the moderating effects of age and cognitive reserve on the relationship between body mass index (BMI) and processing speed, executive function, and working memory based on the literature suggesting that obese individuals perform more poorly on measures of these abilities. Fifty-six healthy, dementia-free community-dwelling older (mean age 65.72 ± 7.40) and younger (mean age 21.10 ± 2.33) adults completed a neuropsychological battery and reported height and weight. Mixed effects models were used to evaluate the interactive effects of age, education (a proxy for cognitive reserve), and BMI on cognitive scores. Higher education was protective for executive deficits in younger, but not older adults. Age differences in executive functions were reduced at higher education levels but increased in individuals with higher BMI. Results suggest the inter-relationships between cognitive reserve – as measured by education – and BMI differ across age, and that obesity may accelerate the cognitive aging process.