Miracle-dz/UniFAR-FTUs huggingface dataset:
How Do Macroeconomic and Bank‐Specific Variables Influence Profitability in the Austrian Banking Sector? Evidence from a Panel Vector Autoregression Analysis

We examine the determinants of the net interest margin (NIM) and the net fee and commission income ratio (NFCIR) of Austrian banks as well as their interrelationship and whether portfolio separation between loan and deposit categories holds. We describe a conceptual framework for the profit optimization problem faced by banks as a Bertrand game with differentiated products and intrafirm product interactions. We contribute to the literature by factoring in banks’ business models in terms of their balance sheet structure. We empirically assess the implications of our conceptual framework using a unique supervisory data set of around 48,000 observations between 1998 and 2014. We estimate two panel vector autoregression models with a novel panel vector autoregression code. Apart from quantifying the contributions of the determinants (e.g., risk weighted assets, leverage ratio, loan loss provision ratio) to NIM and NFCIR, the empirical results show that interest income and fee and commission income should be regarded as strategic complements within a bank. We further conclude that portfolio separation between different loan and deposit categories does not hold.
Environmental, Social, and Governance (ESG) Profiles, Stock Returns, and Financial Policy: Australian Evidence

This study investigates the independent effects of environmental (E), social (S), corporate governance (G), and the composite ESG ratings on stock returns and corporate financing decisions of the largest stocks in the Australian equity market. Firms with high composite ESG ratings tend to increase their leverage. For the individual ratings, we find different inferences: firms with low E and high G ratings tend to raise less debt. Firms with high G ratings hold less cash, while those with low G ratings have lower dividend payouts. S ratings have no impact on corporate financing decisions. There appears to be no significant difference in risk-adjusted returns for portfolios based on ESG ratings, effectively indicating that there is no cost of ESG investment.
The Role of the Entrepreneur's Human Capital in Korean Venture Industry

This study aims to examines the effects of an entrepreneur’s human capital characteristics in early-stage firms in Korean venture industry. The data come from 260 firms which was gone public during 2000s in the Korean information technology (IT) industry. We consider age, schooling, and experiences as key human capital elements. Age is negatively related to founding in IT particularly, but positively influences the performance in the initial public offering (IPO). School prestige is positively associated with venture capital (VC) financing and IPO performance. The educational level has inverted-U shape with start-up in IT. Related industry experience is a very strong and consistent predictor in all stages of entrepreneurial process. The output functional background is positively associated with founding in IT industry and attracting VC investments. Finally, entrepreneurs with related industry experience are more likely to found in IT industry and then their ventures achieve better market capitalization in IPO process. This study is differentiated from previous studies examining whether a firm is created or not. We highlighted that the industry where entrepreneurs make start-ups and found that youth, related industry experience and output function background among human capitals of entrepreneurs are helpful for opportunity development in IT.
Holy Grail or inflated expectations? The success and failure of integrated policy strategies

ABSTRACT Governments and international organizations increasingly pursue the development of integrated policy strategies to govern persistent societal problems that crosscut the boundaries of traditional jurisdictions. In spite of the rising popularity of such integrated strategies, little is known about their effects. Although it is generally assumed that integrated strategies result in better outcomes, the evidence base to support this claim is sparse. This is not to say that no attempts to study the relationship between integrated strategies and policy outcomes have been undertaken at all; this paper presents a research synthesis of the fragmented evidence base. Eligible studies are interpreted and discussed by using a heuristic that distinguishes between programmatic and political success and failure. Apart from synthesizing the impacts that integrated strategies have had, the paper reflects on associated explanatory conditions and methodological approaches that have been used. The review almost exclusively finds reports of failure and constraining conditions. At the same time, methodological approaches are found to be largely unconvincing and considerable research gaps remain. The paper, therefore, ends with a nuanced answer to the question of whether integrated strategies are worth pursuing and sets out various avenues for further research.
The Effects of Paternity Leave on Fertility and Labor Market Outcomes

This paper studies the effects of a father quota in the parental leave period on households' labor market and fertility decisions. Identification is based on the 2007 reform of the Spanish family benefit system, which extended the sixteen weeks of paid parental leave by two additional weeks exclusively reserved for fathers and non- transferable to mothers. Using a regression discontinuity design, we show that the reform substantially increased the take-up rate of fathers (by as much as 400%), as well as the re-employment probability of mothers shortly after childbirth (by about 11%). However, it did not affect parents' longer-term leave-taking or employment behavior. We also find that the introduction of the two weeks of paternity leave delayed higher- order births and reduced subsequent fertility among older women (by about 15%). These results suggest a limited scope for the father quota to alter household behaviors beyond the parental leave period and reduce gender inequality at the workplace.
Contradictions in a distance course for a marginalized population at a Middle Eastern university

This study explores six cases of non-native English speaking students engaged in a distance English-medium course on critical thinking at a university in Iran. Framed within activity theory, the study investigated students’ course-related activity systems with a particular focus on contradictions that underlie any human activity. The construct of contradictions provides a theoretical lens to understand a web of relationships among a number of elements in course-related activities situated in a cultural-historical setting beset with political controversies, technological challenges, and needs for a bilingual curriculum. The findings indicate that all student participants had multiple activity systems within the course environment. Most participants had primary, secondary, and quaternary contradictions that had positive and negative consequences on the expansion of their activity systems. Discussion also includes practical implications for the distance university under study that could potentially be applied to similar distance schools.
‘It was hard but you did it’: the co-production of ‘work’ in a clinical setting among spinal cord injured adults and their physical therapists

Purpose. This paper focuses on what takes place during the rehabilitation of spinal cord injured (SCI) adults. It analyses the cardinal rehabilitation task of transforming the compromised, limited and injured corporeal style of newly injured adults (best described phenomenologically as an ‘I cannot do’ or ‘ I no longer can’) into a new style of embodiment, one in which ‘I am newly abled’. This transformation is not a passive, surrendering experience. Rather, as informants repeatedly noted, ‘rehabilitation is hard work’. This paper examines that ‘work’. Method. This paper draws from observational and interview data collected over an 18-month period in a metropolitan rehabilitation centre in the Midwestern United States. It presents an exemplar case of a clinical setting, that between a physical therapist and her SCI client. Results. The interactional and meaning-making nature of clinical encounters are explicated, revealing the collaborative and situational constitution of rehabilitation work. Conclusions. Experience-near, phenomenologically informed, research is shown to be a valuable way of understanding rehabilitation practices and how they might affect inpatients and staff.
Angle-supported refractive implantation in stable, adult accommodative esotropia

A patient with hyperopia and accommodative esotropia was implanted bilaterally with hyperopic angle-supported refractive implants. Control of the esotropia was achieved as was some improvement in fusional ability. After three years, the endothelium remains healthy, the eye is quiet and control of the esotropia is maintained.
Relation between bone quality values from ultrasound transmission velocity and implant stability parameters--an ex vivo study.

AIM The objective of this study was to determine the relationship between bone qualities measured by ultrasound transmission velocity (UTV) and primary implant stability parameters measured by radiofrequency analysis (RFA) and push-out test (POT) in an ex-vivo model. MATERIALS AND METHODS Three blocks of fresh porcine bone samples were obtained from different anatomic regions, correlating to cortical, mixed and cancellous bone. Mechanical bone qualities of these samples were measured using UTV (expressed in m/s) prior to implantation. Three similar implants (4.1 × 11 mm, AstraTech OS) were inserted into each of the procured bone blocks. The evaluation of implant-bone interface stability was evaluated by RFA expressed as implant stability quotient (ISQ), and POT measured in Newton (N). RESULTS For cortical, mixed and cancellous bone samples UTV values showed a mean of 2049.33, 1728.67 and 1427.67 m/s, respectively. For the implants inserted into cortical, mixed and cancellous bone samples the mean RFA (ISQ) values were 94.33, 81.33 and 63.11, whereas the POT values were >2000, 680 and 290 N, respectively. There was a strong correlation between UTV values and implant stability parameters that was shown descriptively by scatter box plots. CONCLUSION The bone quality measurements obtained by UTV values significantly correlated to primary implant stability values measured by RFA and push-out test. Moreover, UTV was able to significantly differentiate between the different bone types. This suggested that UTV may be considered as a reasonable instrument to measure bone quality preoperatively and would help clinicians predict primary implant stability before implant insertion.
Impact of Spatial Fading Correlation and Keyhole on the Capacity of MIMO Systems with Transmitter and Receiver CSI

This paper investigates the impact of spatial fading correlation and keyhole (pinhole) condition on the capacity of multiple-input multiple-output (MIMO) channels when instantaneous channel state information (CSI) is available at the transmitter and receiver sides. A separable correlation model is considered, whereby spatial fading correlation is accounted for at either or at both sides of the collocated MIMO wireless channel. Two extreme scenarios of a double scattering environment are analyzed: (i) an extremely rich scattering environment corresponding to a conventional semi-correlated Rayleigh fading channel and (ii) a double-correlated rank-deficient keyhole channel with a single degree of freedom. In the case of semi-correlated Rayleigh fading, the capacity expressions are derived for two types of correlation structures among the transmitting or the receiving antennas, namely, a constant correlation model and an arbitrary correlation model, the latter being induced by a full-rank Hermitian covariance matrix with non-repeating distinct eigenvalues. On the other hand, the capacity expressions pertaining to the double-correlated keyhole channel are derived given arbitrary Hermitian covariance matrices at the transmitter and the receiver. For all channel types and correlation structures, closed-form expressions for the capacity of the eigen-mode optimal power and rate adaptation policy as well as for the sub-optimal eigen-mode channel inversion and its truncated variant are derived. Monte Carlo simulations are also carried out thereby upholding our theoretical analysis.
The Difference of Surgical Site Infection According to the Methods of Lumbar Fusion Surgery

Study Design: Retrospective analysis. Objective: To compare the rates and types of a surgical site infection according to the surgical options in spine surgeries. Summary of Background Data: Scant literatures exist on the difference of surgical site infection according to the surgical methods. We presumed that the incidence of infection after posterior lumbar interbody fusion (PLIF) was higher than posterior or posterolateral fusion (PF, PLF) due to several reasons. Methods: A retrospective analysis was made on the patients who received instrumented spinal fusion surgeries from 2000 to 2009. The differences of surgical site infection rates and characteristics were compared between the patients who received PF or PLF (group I) and PLIF (group II). In addition, the infection rate according to the graft options and number of cages was compared in group II. Results: A significant difference (P=0.003) of infection rate between group I (0.3%, 3 cases out of 974) and group II (1.37%, 29 cases out of 2110) was observed. In group I, 67% of infections were wound infections and 33% were osteomyelitis. In group II, 23% were wound infections, 73% were osteomyelitis, and 4% were osteomyelitis combined with wound infection. Significant increase of infection rate was observed in the single cage group (P=0.001) and mainly local bone grafted group (P=0.030). Conclusions: The infection rate of PLIF was higher than that of PF or PLF. Considering the increased infection rate in local bone grafted group and 52% of the infection cases after interbody fusion was osteomyelitis around interbody space, contaminated local bones and interbody space were suspected as major routes of contamination. The higher infection rate in single cage group than that of double cage group was attributed to vulnerability of remained avascular disk materials to infection.
Mitochondrial alternative oxidase‐dependent autophagy involved in ethylene‐mediated drought tolerance in Solanum lycopersicum

Summary Mitochondrial alternative oxidase (AOX) is involved in a large number of plant physiological processes, such as growth, development and stress responses; however, the exact role of AOX in response to drought remains unclear. In our study, we provide solid evidences that the activated AOX capacity positively involved in ethylene‐induced drought tolerance, in tomato (Solanum lycopersicum), accompanied by the changing level of hydrogen peroxide (H2O2) and autophagy. In AOX1a‐RNAi plants, the ethylene‐induced drought tolerance was aggravated and associated with decreasing level of autophagy. The H2O2 level was relatively higher in AOX1a‐RNAi plants, whereas it was lower in AOX1a‐overexpressing (35S‐AOX1a‐OE) plants after 1‐(aminocarbonyl)‐1‐cyclopropanecarboxylic acid (ACC) pretreatment in the 14th day under drought stress. Interestingly, the accumulation of autophagosome was accompanied by the changing level of reactive oxygen species (ROS) in AOX transgenic tomato under drought stress whether or not pretreated with ACC. Pharmacological scavenging of H2O2 accumulation in AOX1a‐RNAi (aox19) stimulated autophagy acceleration under drought stress, and it seems that AOX‐dependent ROS signalling is critical in triggering autophagy. Lower levels of ROS signalling positively induce autophagy activity, whereas higher ROS level would lead to rapid programmed cell death (PCD), especially in ethylene‐mediated drought tolerance. Moreover, ethylene‐induced autophagy during drought stress also can be through ERF5 binding to the promoters of ATG8d and ATG18h. These results demonstrated that AOX plays an essential role in ethylene‐induced drought tolerance and also played important roles in mediating autophagy generation via balancing ROS level.
Medical Consultation for Gastro-Oesophageal Reflux Symptoms: Reasons and Associated Factors

Objectives: To evaluate the frequency of medical consultation for gastro-oesophageal reflux symptoms (GORS) and to ascertain reasons for consultation and associated factors. Methods: Telephone survey of 2,500 persons using a validated questionnaire. Data were analyzed using multiple logistic regression, in which the dependent variable was consultation for GORS and the independent variables were sociodemographic factors and the clinical characteristics of GORS. Results: Of those reporting GORS, 28% had consulted their physician about them in the last year. Main reasons for seeking medical advice were GORS-induced concern in 48%, and intensity of GORS in 42.6%. Factors independently associated with medical consultation were: housewife (odds ratio (OR) 1.9; 95% CI 1.1–3.4) or retired status (OR 2.3; 95% CI 1.3–4.1), frequent GORS (OR 2.4; 95% CI 1.6–3.5), severe GORS (OR 2.4; 95% CI 1.4–4.2), nocturnal GORS (OR 1.6; 95% CI 1.1–2.3), and association of epigastric pain (OR 1.7; 95% CI 1.0–2.7) or nausea (OR 1.7; 95% CI 1.1–2.8). Conclusion: The high frequency of medical consultation for GORS in Spain makes it an important healthcare problem. The fact that half the patients seek medical advice due to concern about the nature of GORS illustrates the benefits of explaining the nature, treatment and prognosis of GORS. The clinical relevance of GORS does not reside in its frequency alone, since severe or nocturnal symptoms, albeit occasional, are also associated with medical consultation.
The mRNA Nuclear Export Factor Hpr1 Is Regulated by Rsp5-mediated Ubiquitylation*

Ubiquitin conjugation and in particular two distinct HECT ubiquitin ligases, Rsp5p and Tom1p, have been shown to participate in the regulation of mRNA export in Saccharomyces cerevisiae. The identification of the ubiquitin ligase substrates represents a major challenge in understanding how this modification may modulate mRNA export. Here, we identified Hpr1p, a member of the THO/TREX (transcription/export) complex that couples mRNA transcription to nuclear export as a target of the ubiquitin-proteasome pathway. Hpr1p degradation is enhanced at high temperature and appears linked to on-going RNA-polymeraseII-mediated transcription. Interestingly, the stability of the other THO complex components is not affected under these conditions indicating that Hpr1p turnover could control the formation of the THO/TREX complex and consequently mRNA export. Using in vivo and in vitro approaches we demonstrate that Rsp5p is responsible for the ubiquitylation of Hpr1p that also involves the ubiquitin-conjugating enzyme Ubc4p. Thus, Hpr1p represents the first nuclear export factor regulated by ubiquitylation, strongly suggesting that this post-translational modification participates in the coordination of transcription and mRNA export processes.
Forecasting economic activity in data-rich environment

This paper compares the performance of five classes of forecasting models in an extensive out-of-sample exercise. The types of models considered are standard univariate models, factor-augmented regressions, dynamic factor models, other data-rich models and forecast combinations. These models are compared using four types of data: real series, nominal series, the stock market index and exchange rates. Our findings can be summarized in a few points: (i) data-rich models and forecasts combination approaches are the best for predicting real series; (ii) ARMA(1,1) model predicts inflation change incredibly well and outperform data-rich models; (iii) the simple average of forecasts is the best approach to predict future SP500 returns; (iv) exchange rates can be predicted at short horizons mainly by univariate models but the random walk dominates at medium and long terms; (v) the optimal structure of forecasting equations changes much over time; and (vi) the dispersion of out-of-sample point forecasts is a good predictor of some macroeconomic and financial uncertainty measures as well as of the business cycle movements among real activity series.
A longitudinal analysis of costs associated with change in disease activity in systemic lupus erythematosus

Abstract Objectives: To estimate the economic consequences of changes in disease activity on healthcare resource utilization (HRU) and costs. Methods: A retrospective longitudinal study of systemic lupus erythematosus (SLE) patients receiving care in a regional integrated health delivery system in the US from 01/2004 through 03/2011 was conducted using electronic health records, medical chart reviews, and claims. Eligible patients were ≥18 years old, with ≥1 rheumatologist-confirmed SLE diagnosis and ≥1 eligible rheumatology encounter. Patients were continuously enrolled ≥90 days before and ≥30 days after the encounters. Charts were manually reviewed to estimate SLEDAI scores. Average unit costs of each medical procedure, facility use, and prescription were estimated from a payer perspective (2011 USD) using a managed care claims database. HRU and costs were calculated for the 30-day period surrounding every SLEDAI score date (10 days before and 19 after). Relationships between HRU/costs and SLEDAI scores were estimated using mixed-effect models. Results: Overall, 178 SLE patients were included; mean age was 50.6 years, 91% were female, and 95.5% Caucasian. Patients had a total of 1343 encounters with SLEDAI scores over an average period of 1035 days. Reductions of SLEDAI scores were associated with reductions in HRU and costs. SLEDAI score reductions of 4-points were associated with reductions of 10% HRU and 14% costs over a 30-day period; reductions of 8-points had associated reductions of 19% HRU and 26% costs; and reductions of 10-points had associated reductions of 23% HRU and 31% costs. Annualized, changes in SLEDAI scores are associated with changes of $2485 (SLEDAI score change: 10–6), $4624 (10–2), and $5579 (10–0), respectively. Conclusion: Reductions in disease activity were associated with substantial reductions of HRU and costs. Limitations: Only short-term effects of disease activity change were investigated, disregarding other potential benefits of low disease activity on long-term organ damage prevention or comorbidities.
The Validity of Investor Sentiment Proxies

Behavioral finance research relies on proxies for unobservable phenomena. Different proxies for the same underlying phenomena should be correlated (formal proof of this proposition is presented in this letter). This letter examines proxies for an unobservable variable, sentiment. We utilize a well-known methodology to construct text-based sentiment proxies and compare these with metrics from Baker and Wurgler. We find that they are not correlated. At least one, but perhaps all, of these are not valid proxies of sentiment.