Miracle-dz/UniFAR-FTUs huggingface dataset:
The over-reaction effect in the stock exchange of Thailand: an exmpirical study

One of the main cornerstones of traditional financial theory is the Efficient Market Hypothesis (EMH). However, several violations of EMH have been discovered to the contrary of explanation provided by traditional financial theory. One of the key discoveries was the over-reaction effect of investors to recent information over base-rate data by De Bondt and Thaler (1985), which has been further studied in many different markets. Inspired by the work of De Bondt and Thaler (1985), this study investigated the over-reaction effect in the Stock Exchange of Thailand during 2012–2017 and the total return to investors based on the contrarian trading strategy by tracking performance of past losers and winners portfolio. In terms of method of analysis, this study tracked the total return index of stocks listed in the Stock Exchange of Thailand tracked during 2012–2014 to identify top 20% winners and bottom 20% losers. Equal weighted portfolios of winners and loser portfolios were formed with Cumulative Average Returns (CARs) tracked during 2015-2017 for comparison of performance. Mean difference and t-test were performed to test statistical significance. The results show that loser portfolios outperformed winner portfolios by 35.48%, 31.77%, and 55.87% at 1 year, 2 years, and 3 years after ranking, respectively. The differences between the returns generated by loser and winner portfolio were statistically significant from the 27th month onward. This study provides supporting evidence for the over-reaction effect in the Stock Exchange of Thailand during the study period. Results of portfolio tracking suggest that over-reaction of investors in the Stock Exchange of Thailand may present an opportunity for “contrarian trading strategies” over a medium term holding period. In other words, contrarian investors could benefit from tracking performance of underpriced stocks, for which the market has underestimated earning potential and business prospects and avoiding position in overpriced “hot” stocks, for which the market has overreacted to positive news, resulting in overpricing. Keywords: Behavioral Finance, Over-Reaction Effect, Contrarian Trading Strategies, Efficient Market Hypothesis (EMH)
Accuracy and modifying factors for ultrasonographic determination of fetal weight at term.

OBJECTIVE To determine the accuracy of various sonographic formulas for estimating fetal weight at labor. METHODS We evaluated prospectively four published equations by Hadlock et al, Shepard et al, Rose and McCallum, and Sabbagha et al, as well as clinical examination for accuracy in determining fetal weight during labor. Two hundred twenty-three patients at 35-42 weeks' gestation underwent sonographic examination. Amniotic fluid index (AFI), placental location, maternal weight, and fetal station were recorded for each study. RESULTS The Hadlock and Shepard equations both had a lower percentage of error than the Sabbagha formula (6.1%/204 g and 6.2%/200 g respectively, versus 7.8%/271 g; P < .007). For all four equations, 70-79% of the fetal weight predictions were within 10% of actual birth weight. Sensitivities for detecting birth weights greater than 3800 g varied greatly (11-76%), whereas specificities for detecting birth weights less than 3800 g exceeded 88%. For most equations, AFI, placental location, and maternal weight did not affect predictive accuracy. The error in weight estimation varied between 6.3-8.1% in patients with oligohydramnios. Biparietal diameter (BPD) could not be measured in approximately two-thirds of the patients studied. CONCLUSION Using any of the four standard equations or clinical examination, accurate estimation of fetal weight can be achieved for patients in labor, even in the presence of ruptured membranes. Since the Hadlock equation does not rely on BPD measurements, it appears to be both the most accurate and clinically useful method for predicting fetal weight for patients in labor at term.
Coveting your neighbour’s house: understanding the positional nature of residential satisfaction

Abstract Do the characteristics of our neighbour’s house affect how we view our own home? In this paper, I examine the importance of local comparisons in housing assessments by testing whether the size of one’s home relative to others in their neighbourhood influences their housing satisfaction. I use a unique feature of the 1993 American Housing Survey, in which the US Census Bureau randomly surveyed 988 housing units around the country and a cluster of approximately 10 of their nearest neighbours. I use these data to test whether a unit’s relative size in its neighbourhood influences the occupant’s housing satisfaction while controlling for a series of occupant and unit characteristics. I find evidence that relative position matters. Those living in comparatively small houses are more likely to express dissatisfaction with their home than people living in units that are large relative to other houses in their neighbourhood cluster.
On the Investment Credentials of Bitcoin: A Cross-Currency Perspective

We examine diversification capabilities of Bitcoin for a global portfolio spread across six asset classes from the standpoint of investors dealing in five major fiat currencies namely US Dollar, Great Britain Pound, Euro, Japanese Yen and Chinese Yuan. Considering the period of prolonged decline in Bitcoin’s value throughout 2018, we employ modified conditional value-at-risk and standard deviation as measures of risk to perform portfolio optimisations across three asset allocation strategies. Results show that portfolios denominated in Japanese Yen, Chinese Yuan and US Dollar account for greater proportion of optimal investment in Bitcoin and exhibit higher improvement in risk-adjusted returns due to investment in Bitcoin. We also perform a comprehensive risk-adjusted evaluation of portfolios with and without Bitcoin to reinforce striking variation in degree of diversification benefits of Bitcoin in a cross-currency context. Taken together, our findings provide insights into sharp disparity in Bitcoin trading volumes across national currencies from a portfolio theory perspective.
Protecting American Health from Climate Change: What is needed to expand adaptation planning by U.S. state and local health departments?

within the electronic database, and articles that met the inclusion criteria were retrieved and stored in Mendeley reference software. Given the high volume of included articles (n=90), only those articles that had “health” in the title, abstract, or keywords were included for full-text review (n=29). Any articles that did not meet the inclusion criteria after full text review were 1,588 articles identified through electronic databases: • Scopus (551); • PubMed (567) • Web of Science (470) 9 articles identified through snowball sampling 90 records screened for health focus in Mendeley 1,608 articles screened by title and abstract 1,492 records excluded 23 duplicate articles excluded 14 full text articles excluded, with reasons 15 articles included for review 11 articles identified by hand-search of: • Google Scholar (2) • Georgetown Climate Adaptation Clearinghouse (9) 29 full text articles reviewed for eligibility 113 records screened for duplicates in Mendeley 67 records excluded for non-health focus
2018 WTO Trade Policy Review of Malaysia

This paper presents an academic analysis and review of the recently completed WTO Trade Policy Review (TPR) of Malaysia, 2018. This includes suggesting policies that can help to promote Malaysia's international competitiveness. We show that the sharp decline in commodity prices that started in 2014 contributed in narrowing Malaysia's trade balance and current account balance as a share of GDP. The faster decline of exports as a share of GDP compared to imports accounted for most of the substantial reduction. Further, the collapse of commodity prices was accompanied by a sharp depreciation of Ringgit Malaysia. We also show that Malaysia is losing international attractiveness in terms of FDI inflows relative to its economic size. This is evidenced by the downward trend in Malaysia's FDI performance index since 1992. Further, international tourism has fallen on average since 2014, due largely to a drop in tourist arrivals from Singapore. Policymakers should introduce policies to enhance international competitiveness, such as reforming the education system to produce skilled workers and reducing reliance on low‐skilled foreign workers.
Econometric Analysis of Panel Data Models with Multifactor Error Structures

Economic panel data often exhibit cross-sectional dependence, even after conditioning on appropriate explanatory variables. Two approaches to modeling cross-sectional dependence in economic panel data are often used: the spatial dependence approach, which explains cross-sectional dependence in terms of distance among units, and the residual multifactor approach, which explains cross-sectional dependence by common factors that affect individuals to a different extent. This article reviews the theory on estimation and statistical inference for stationary and nonstationary panel data with cross-sectional dependence, particularly for models with a multifactor error structure. Tests and diagnostics for testing for unit roots, slope homogeneity, cointegration, and the number of factors are provided. We discuss issues such as estimating common factors, dealing with parameter plethora in practice, testing for structural stability and nonlinearity, and dealing with model and parameter uncertainty. Finally, we address issues related to the use of these economic panel models.
Student Identification with IT-Related Professions

The field of information systems has been bombarded by news that there are shortages of educated and qualified IS professionals. At the same time headlines in practitioner journals are showing that individuals are not entering IT-related degree programs. For the last few years, enrollments have been down in these programs across the United States. In order to explore this issue, this research project examines the identification that students have with ITrelated degree programs. A field study was conducted that indicates students do identify with their chosen IT-related profession (major) and that this identification is related to both the similarity the student has with the profession prototype and with perceptions of the profession. A complete review of the study and implications are provided.
Abstract 1731: Social Support, Personal Control, and Psychological Functioning Among Individuals with Heart Failure

Heart failure places a large psychosocial burden on patients and their families. Although psychological functioning generally improves for most cardiac patients, impairment persists for a significant minority, posing a serious impediment to well-being. It has been proposed that personal resources, such as social support and coping style, facilitate adaptation to such threatening events as chronic illness, and thus impact psychological outcomes. Purpose: The primary aim of this study was to develop and test two mediating models, drawn on an integrative stress coping framework. The models considered the complex relationships between social support and personal control and two key psychological outcomes, depressive symptoms and anxiety, in individuals coping with heart failure. Social support was hypothesized to have a direct effect on depressive symptoms (Model 1) and anxiety (Model 2), and an indirect effect, mediated by personal control, on these psychological outcomes. Methods: We conducted a secondary analysis of data collected from a cross-sectional survey of patients (N = 242) between 21 and 82 years of age being treated primarily for idiopathic (55.8%) or ischemic (39.7%) cardiomyopathy. Structural equation modeling was used to test the hypotheses. Results: Both models demonstrated good data model fit, with 52% of the variance explained for Model 1 and 38% of the variance explained for Model 2. Statistically significant estimates indicated that social support plays a key role in reducing depressive symptoms and anxiety. Notably, for each model, the mechanism whereby social support reduces psychological distress is entirely through the indirect effect, i.e., through patients’ perceived control. Conclusions: The results provide support for existing theories that emphasize important roles of social support and personal control in improving psychological functioning among the chronically ill. This study raises the possibility that strategies designed to improve social support can be useful in reducing heart failure patients’ depressive symptomatology and anxiety. Such strategies would operate primarily through improving one’s sense of personal control. #
When Do Employees Choose to Be Represented on the Board of Directors? Empirical Analysis of Board‐Level Employee Representation in Denmark

Drawing on transaction costs economics and longitudinal data on Danish corporations we analyze the distribution of board-level employee representation (BLER) and the characteristics of employee directors in a context where workers have the possibility (but not also an obligation) to nominate representatives to the board of directors. We show that BLER is less likely instituted in firms with CEO or family-related members on board, but more likely observed in larger, older firms and in those with high firm-specific human capital and union density. Firm-specific human capital, qualifications and union membership also determine individual worker’s probability to become a board member.
Cool Pavement Strategies for Urban Heat Island Mitigation in Suburban Phoenix, Arizona

Urban areas are characterized by a large proportion of artificial surfaces, such as concrete and asphalt, which absorb and store more heat than natural vegetation, leading to the Urban Heat Island (UHI) effect. Cool pavements, walls, and roofs have been suggested as a solution to mitigate UHI, but their effectiveness depends on local land-use patterns and surrounding urban forms. Meteorological data was collected using a mobile platform in the Power Ranch community of Gilbert, Arizona in the Phoenix Metropolitan Area, a region that experiences harsh summer temperatures. The warmest hour recorded during data collection was 13 August 2015 at 5:00 p.m. , with a far-field air temperature of about 42 ∘ C and a low wind speed of 0.45 m/s from East-Southeast (ESE). An uncoupled pavement-urban canyon Computational Fluid Dynamics (CFD) model was developed and validated to study the microclimate of the area. Five scenarios were studied to investigate the effects of different pavements on UHI, replacing all pavements with surfaces of progressively higher albedo: New asphalt concrete, typical concrete, reflective concrete, making only roofs and walls reflective, and finally replacing all artificial surfaces with a reflective coating. While new asphalt surfaces increased the surrounding 2 m air temperatures by up to 0.5 ∘ C, replacing aged asphalt with typical concrete with higher albedo did not significantly decrease it. Reflective concrete pavements decreased air temperature by 0.2–0.4 ∘ C and reflective roofs and walls by 0.4–0.7 ∘ C, while replacing all roofs, walls, and pavements with a reflective coating led to a more significant decrease, of up to 0.8–1.0 ∘ C. Residences downstream of major collector roads experienced a decreased air temperature at the higher end of these ranges. However, large areas of natural surfaces for this community had a significant effect on downstream air temperatures, which limits the UHI mitigation potential of these strategies.
Effects of Housing Transfer Taxes on Household Mobility

Housing transfer taxes are fiscally important in many countries despite evidence of substantial welfare losses found in several quasi-experimental studies. Research designs used in this prior literature are prone to attenuation bias due to spillovers from mobility or trading across control and treatment groups. We account for these spillovers by combining quasi-experimental empirical analysis with a one-sided housing market model where households act as both buyers and sellers. Using a Finnish tax reform and total population register data, we find that an increase in the transfer tax has a significant negative effect on household mobility. We calibrate our theoretical model to match the mobility rates in our data and our quasi-experimental estimate. In our setting, relying only on the quasi-experiment and ignoring the spillovers would lead to a 20% underestimation of the effect. We argue that the welfare costs of transfer taxes are larger than previously thought.
Corruption and Economic Growth: New Empirical Evidence

This paper, based on the introductory remarks made at the two-day conference on"The State of the Economy, the State of the World,"is an idiosyncratic stocktaking of the trajectory of economics from Adam Smith to contemporary times, with special attention to the rise of development economics. Given the challenges faced by the global economy in recent times, and especially since 2008, it is time for a serious evaluation of economics for policy making. The paper comments on some potential themes and ideas that motivated the conference and formed the basis of discussions and debate. This is done keeping in mind the nature of knowledge engagement the World Bank Group is expected to have with the world.
WM 2010 Conference , March 7-11 , Phoenix , AZ 1 VITRIFICATION OF A REPRESENTATIVE SIMULANT OF DWPF SB 4-TYPE WASTE IN A CCIM – INDUSTRIAL SCALE DEMONSTRATION ON THE CEA MARCOULE PLATFORM-10063

The Cold Crucible Induction Melter (CCIM), which is able to operate at high temperatures, offers the potential for significant cost savings in vitrification projects through increased waste loading and throughputs. As part of a strategy to demonstrate and implement processes to accelerate the High-Level Waste (HLW) cleanup mission at Savannah River Site (SRS), DOE-EM awarded two separate phases of an Advanced Remediation Technology (ART) contract to AREVA Federal Services LLC (AFS), to demonstrate the maturity of the CCIM technology, the level of improvement that can be expected when operating this technology at SRS, and the feasibility of deploying the CCIM in the Defense Waste Processing Facility (DWPF) melter cell. This paper presents the very promising results of an extended duration industrial scale demonstration performed in 2009 on the Marcoule (French Atomic Energy Commission: CEA) large size CCIM platform with a representative SB4-type simulant of DWPF melter feed. The selected waste loading was 46 wt%, limited by nepheline and liquidus considerations. This value is 35% higher than the waste loading achieved at the DWPF with the actual SB4 waste. Over the two weeks of the demonstration, a total of 4,066 L of feed were processed. About 2259 kg of glass were produced, and poured in 32 pouring operations. The 650 mm-diameter CCIM was operated at 1250°C. In these conditions, the maximum throughput was determined to be 75 L/hr of feed, or 40.4 kg/hr of glass product. The glass product was visually homogeneous and well formed, with some spinel crystals. Its composition was very consistent over the run demonstrating the ability of the melter to produce a well controlled wasteform. The operation parameters all indicated that no spinel crystals accumulation liable to hinder operation had occurred during the whole run duration. WM2010 Conference, March 7-11, Phoenix, AZ
"Doverjaj, no proverjaj?" : Tracing the roots of political trust in contemporary Russia

Trust is one the key concepts in analyzing the maintenance of social order and diversity in modern societies. Previous studies have reported that trust correlates, for instance, with higher economic growth, better governance, higher levels of education and subjective wellbeing. However, former Soviet countries face particular problems in developing the habits of trust. These observations of trust call for a more comprehensive and in-depth areal research on the concept. The present thesis examines the dynamics of political trust in contemporary Russia, and draws inspiration from W. Mishler and R. Rose’s (2001, 2005) studies of political trust. Mishler and Rose (2001) studied the origins of political trust in post-Communist Eastern European countries in the late 1990s. Their main finding was that while sociodemographic factors explain poorly the variance of political trust in post-Soviet sphere, the individual perceptions of political and economic performance of the institutions correlate significantly with it. Thus, they advance that political trust is a rational response to institutional performance in those countries. In this regard, political trust in Eastern European countries seems to adhere to conditions of the Russian proverb “doverjaj, no proverjaj” (“trust but verify”). This thesis aims to examine how relevant the aforementioned argument is in the context of contemporary Russia. This examination is done by conducting a kind of replicate analysis of Mishler and Rose’s model. Moreover, a critical evaluation of the results of thesis’ model is given by applying recent insights from Russian studies. The data for the thesis’ model are drawn from the third round of the Life in Transition survey (LiTS III). Analyses were performed using principal component factor analysis and ordinary least squares linear regression models. In general, the results of the thesis’s model are consistent with those of Mishler and Rose (2001): the subjective perceptions of political and economic performance of Russian institutions were the most significant domains associated with political trust in modern Russia, whereas socio-demographic factors had only a minuscule effect in shaping it. However, the hypothesis about political trust as a rational response to political and economic performance contradicts with the recent data and research on Russian economy and politics: economy has stagnated or even fallen in Russia during recent years, and, at the same time, Russian domestic policy has become increasingly repressive. These observations suggest that political trust might be a reflection of something else than mere rational response to institutional performance in Russia. On the other hand, the fluctuation of the Russian political trust implies that it presents evaluative attitudes toward institutions, but in the light of the evidence of this thesis, the level of rationality of these evaluative attitudes remains unclear and questionable.
Local government’s disaster management capacity and disaster resilience

ABSTRACT The questions in this research are as follows: How does the disaster management capacity of local governments affect the disaster resilience of local communities? The research distinguished local communities by type according to their level of exposure to natural disaster hazards and the analysis compared the impact of the disaster management capabilities on disaster resilience by the type of natural disaster exposure. The analysis results are as follows: While the frequency of disasters local communities experience is low, the magnitude of disasters experienced is large; external network and manual had a positive effect on disaster resilience. When disaster frequency experienced by local communities is high, the magnitude of disasters experienced is small, and internal network and public relation contribute to increased disaster resilience. In conclusion, this research will help expand the externalities of disaster management discussed in the fields of public administration and policy.