Miracle-dz/UniFAR-FTUs huggingface dataset:
Is Franchising Entrepreneurship? Yes, No, and Maybe So

We report the results of a survey of key thought leaders within the entrepreneurship field centered on the relationship between franchising and entrepreneurship. Specifically, we asked members of the Entrepreneurship Theory and Practice editorial board whether they consider franchisors to be entrepreneurs, whether they consider franchisees to be entrepreneurs, whether they consider research on franchising to be entrepreneurship research, and how they view the quality of franchising research compared with the quality of entrepreneurship research in general. Their collective responses offer important implications for franchising research. One implication is that franchising research needs to become more theoretically robust. A second is that the concepts of opportunity recognition, risk, organizational size, stage of organizational development, and organizational autonomy need to be taken into account when studying franchising.
A Re-Examination Of The Relationship Between Closed-End Fund Discounts And Expenses

In this paper the role of expenses in explaining closed-end fund discounts is reexamined. A present value model is developed to illustrate the relationship between expenses and discounts. Earlier studies find that discounts are not related to management fees. In this paper, using a larger sample over a longer and different period and a better specification of the expense variable consistent with the model developed, discounts are found to be significantly related to expenses. The relationship between expenses and discounts holds in the presence of other control variables.
Plasma Level of Transforming Growth Factor β1 Measured from the Azygos Vein Predicts Prognosis in Patients with Esophageal Cancer

Purpose: Transforming growth factor (TGF)-β regulates cell growth inhibition. When tumor cells lose their sensitivity to TGF-β growth inhibition, the excess TGF-β that results may act on tumor cells to facilitate tumor development. Previously, we have shown that an elevated systemic TGF-β1 level is not related to tumor progression in esophageal cancer (Y. Fukai et al., Int J Cancer 2003;104:161–6). We considered that systemic inflammation or chronic disease, in addition to the tumor, may influence the plasma TGF-β level. Therefore, we examined the hypothesis that the plasma TGF-β level measured from the azygos vein would independently predict tumor progression and prognosis in patients with esophageal cancer. Experimental Design: Fifty-seven plasma samples were obtained intraoperatively from the azygos vein in patients with esophageal cancer. ELISA was used to quantify the plasma TGF-β1 levels, which were correlated with pathological features and patient survival. Results: The mean plasma TGF-β1 level measured from the azygos vein of esophageal cancer patients was 5.09 ± 0.48 ng/ml (mean ± SE). The survival rates of patients with a high TGF-β1 level (defined as a level above the 4.6 ng/ml level of normal controls) in the azygos vein were significantly lower than those of patients with a low TGF-β1 level (P = 0.0317). Moreover, the TGF-β1 level in the azygos vein was an independent prognostic factor for overall survival (P = 0.0474). Conclusions: The level of plasma TGF-β1 measured from the azygos vein is an independent predictor in patients with esophageal cancer and may reflect tumor progression more specifically because the azygos vein is responsible for venous return from the esophagus.
Carbohydrate-enriched diet impairs cardiac performance by decreasing the utilization of fatty acid and glucose

Aims: We hypothesized that a high-carbohydrate diet affects the cardiac performance by interfering in the metabolic steps involved in energy transfer in this organ. To verify this, we investigated the myocardial utilization of different substrates and contractile function in rats fed a high-carbohydrate diet, under normal flow and ischemia. Methods and Results: Male Wistar rats were fed over 9 days with standard (39.5% carbohydrate, 8% fiber) or high-carbohydrate diet (58% carbohydrate) and, afterwards, their cardiac function was examined using isolated heart preparations. The high-carbohydrate diet decreased the activity of the lipoprotein lipase, utilization of fatty acids, expression of the gene of peroxisome proliferator-activated receptor α and its target enzymes. In addition, decreased GLUT4 mass, glucose uptake, glycogen content and glycolytic intermediates were also observed. High-carbohydrate hearts displayed weaker activation of the glycolytic pathway during ischemia, according to minor production of lactate, in relation to control hearts. The functional impairment caused by high-carbohydrate diet shown by the decrease in the ventricular systolic strength, +dT/dt and −dT/dt was, at least in part, due to the low availability of adenosine triphosphate (ATP). Conclusion: Our data suggest that a high-carbohydrate diet can damage myocardial contractile function by decreasing the cardiac utilization of glucose and fatty acids and, consequently, the ATP pool.
Differences between systematic reviews and health technology assessments: A trade-off between the ideals of scientific rigor and the realities of policy making

Objectives: To elucidate important differences between a health technology assessment (HTA) and a systematic review, using an HTA of positron emission tomography (PET) as an example. Methods: Interviews with seventeen individuals who were authors or users of the PET HTA. Results: Those interviewed identified seven areas in which HTAs often differ from traditional systematic reviews: (i) methodological standards (HTAs may include literature of relatively poor methodological quality if a topic is of importance to decision-makers), (ii) replication of previous studies (relatively common for HTAs but not systematic reviews), (iii) choice of topics (more policy oriented for HTAs, while systematic reviews tend to be driven by researcher interest), (iv) inclusion of content experts and policy-makers as authors (policy-makers more likely to be included in HTAs, although there are potential conflicts of interest), (v) inclusion of economic evaluations (more often with HTAs, although economic evaluations based upon poor clinical data may not be useful), (vi) making policy recommendations (more likely with HTAs, although this must be done with caution), and (vii) dissemination of the report (more often actively done for HTAs). Conclusions: This case study of an HTA of PET scanning confirms that HTAs are a bridge between science and policy and require a balance between the ideals of scientific rigor and the realities of policy making.
Valuation of the minimum revenue guarantee and the option to abandon in BOT infrastructure projects

The real option approach is used to value the minimum revenue guarantee (MRG) and the option to abandon in Build‐Operate‐Transfer infrastructure projects. The option to abandon is formulated under an investment option held by the concessionaire at contract signing and to expire before construction commencement. MRG is formulated as a series of European style put options in a single option pricing model. When combined with the option to abandon in the pre‐construction phase, MRG is reconstructed as a series of European style call options to develop a compound option pricing formula. The Taiwan High‐Speed Rail Project is chosen as a numerical case to apply the formulas. The results show both MRG and the option to abandon can create values. When MRG and the option to abandon are combined, they will counteract each other and their values will thus be reduced. Increasing the MRG level will decrease the value of the option to abandon, and, at a certain MRG level, the option to abandon will be rendered worthless.
Effects of Streptozotocin-induced Diabetes and Elevation of Plasma FFA on Ceramide Metabolism in Rat Skeletal Muscle

Ceramide is likely to mediate in induction of insulin resistance. The aim of the present study was to examine the effect of streptozotocin-diabetes and treatment with heparin on ceramide metabolism in skeletal muscles. The experiments were performed on Wistar rats divided into three groups: 1) control, 2) treated with streptozotocin, and 3) treated with heparin. Assays were carried out on three types of muscle: slow-twitch oxidative (soleus), fast-twitch oxidative-glycolytic, and fast-twitch glycolytic (red and white section of the gastrocnemius, respectively). The activity of serine palmitoyltransferase (SPT), neutral and acid sphingomyelinase (nSMase and aSMase), and neutral and alkaline ceramidase (nCDase and alCDase) was examined. The content of ceramide, sphinganine, sphingosine, and sphingosine-1-phosphate was also measured. Both streptozotocin-diabetes and treatment with heparin increased the activity of SPT in each type of muscle. Heparin inhibits the activity of aSMase and concomitantly induces the activity of nSMase in each studied muscle. Streptozotocin decreased aSMase activity in each muscle and increased nSMase activity in the soleus and red section of the gastrocnemius. Heparin induced, whereas streptozotocin inhibited the activity of n-CDase in the soleus and the red section of the gastrocnemius. Heparin increased the activity of alCDase in the red gastrocnemius. In the soleus and the white gastrocnemius the activity of alCDase decreased. Streptozotocin significantly increased the content of ceramide in each muscle studied and heparin did it only in the soleus. It is concluded that insulin deficiency is accompanied by alterations in ceramide metabolism in skeletal muscles. Increased concentration of the plasma free fatty acids may mediate certain effects of insulin deficiency.
Environmental context and termination uncertainty in games with a dynamic public bad

Abstract We employ a laboratory experiment to investigate the effects of environmental context and termination uncertainty on decisions in a dynamic game with a public bad. Every period the subjects decide on their own production level that generates private revenue and ‘emissions’. Emissions accumulate over time and act as a public bad. We characterize and use as benchmarks the Markov perfect equilibrium and social optimum and find that observed decisions are between the two predictions. We find no significant effect of termination uncertainty on decisions in any except the last few rounds where, in a fixed-end setting, subjects allocate their entire endowment to production. We find a strong effect of environmental context which partially substitutes for experience. The effect of experience is most pronounced in the fixed-end treatment where production allocations and the level of the public bad become lower after the restart.
An econometric analysis of urban households’ animal products consumption in Turkey

People in developing countries are increasing their consumption from the very low levels of the past, and they have a long way to go before coming near developed country averages. In this study, households’ animal products consumption patterns are analysed by using Linear Approximation of Almost Ideal Demand System (LA/AIDS) and survey data collected from households in urban areas in Turkey. According to the results of the study, annual per capita consumption of animal products were 48.18 kg for milk, 26.89 kg for yogurt, 18.55 kg for cheese, 6.45 kg for meat, 22.11 kg for poultry and 10.05 kg for fish. Price elasticities were found to be lower than 1 for milk, yogurt, cheese, poultry and fish and higher than 1 for meat. Moreover, the impacts of socio-demographic factors on the demand for animal products were found to be very low. Determination of production targets and formulation of polices are possible by obtaining the proper information related to the livestock products.
A Neural Basis of Herd Behavior in Stock Market: An Experimental Design

A widely observed phenomenon in the financial market is the irrational herd behavior of investors who tend to move together in stock trading under certain market conditions. While behavioral finance literature tries to explain investors’ sentiments and behaviors through psychological factors, neural finance studies explore the brain activity during their financial decision making. This preliminary study depicts an experimental design for investigating the neural basis of herd behavior in stock trading under both the normal market condition when investors trade strategically, and the extreme market condition when herd behavior exhibits. In particular, I predict that two brain regions, namely the anterior insula and the medial prefrontal cortex, would be significantly activated when the investor faces dramatic price fluctuation and smooth price change respectively. Several conditions are contrasted to make more detailed predictions about how these regions are correlated with certain trading behaviors. More inferences are subject to further experiment results and comparisons with other social behavioral studies.
The border puzzle is solved

This article solves the border puzzle that asks why countries have such a strong preference for consuming their own goods. After replicating the negative impact of the border on Canada–United States international trade using the methods of previous research, it is shown that past estimates that find the border to be a significant barrier to international trade are the result of statistical misspecification.
Use of a Violence Risk Assessment Tool in an Acute Care Hospital

This study examined the use and effectiveness of the Alert assessment form. The form is part of the Alert system, used by one large acute care hospital to identify patients with a propensity for violence. All reported incidents of patient violence from August 1, 2003, through December 31, 2004, were included in patient charts. One hundred seventeen violent patient charts were reviewed and compared with 161 non-violent patient charts, randomly chosen from the same time period. Overall use of the Alert assessment form for violent and non-violent patients was 75.7% and 35.4%, respectively. The assessment form was found to have moderate sensitivity (71%) and high specificity (94%). It is reasonably effective in identifying potentially violent or aggressive patients when it is used according to protocol. Efforts to improve the tool are warranted, as is evaluation of its benefit in settings with low prevalence of violence. Also, greater effort must be taken to prevent violence once an aggressive patient has been identified.
Monetary Policy under the Zero Lower Bound Interest: Japan's Experience

This paper quantifies the effect of non-traditional monetary easing at the zero lower bound on interest rate, so called “quantitative easing monetary policy” which the BOJ adopted from March 2001 through June 2006, by changing operating target for money market from the uncollateralized call rate to the outstanding current account balances held by financial institutes at the BOJ. The paper confirms that the monetary policy has contributed to the recovery of the prolonged deflation. First we estimate a minimal VAR model, which consists of the current account balances at the BOJ (CABs) as a policy variable, real GDP, and inflation rate. Next we decompose money stock into transaction money and precautionary money to evaluate the transmission mechanism of the effect of CABs on the real economy by taking into account the financial anxiety. We have found a quantitative easing shock firstly increases transaction money and then raises output and price, which dispels the anxiety. We also confirm that a liquidity trap did not exist during the period of quantitative easing monetary policy.
Modelling the Performance of Australian Hotels: A DEA Double Bootstrap Approach

This study uses the data envelopment analysis (DEA) double bootstrap approach to assess the technical efficiency standing of Australian hotels. Two inputs and six outputs were used in the analyses for the period 2004–2007. The empirical results indicate that the DEA bootstrap approach corrects for the bias inherent in traditional DEA models. The results show that the average technical efficiency of Australian hotels has improved gradually from 76.17% in 2004 to reach its highest level of 80.84% in 2007. The results also indicate that the key determinants of the technical efficiency of Australian hotels are the number of years in business, location, star rating and physical size. The implications of the results are discussed.
Disproportionality in Transition Services: A Descriptive Study.

The purpose of this study was to examine disproportionality in transition services for students with disabilities. The authors predicted that students' transition services and secondary programs would be driven not only by their postschool goals, but also by their gender, ethnicity, disability, and school setting. To test this hypothesis, the researchers examined school records and interviews of more than 4,500 students in a north- eastern state who graduated or aged out of special education in the years 2005-2008. The authors found that secondary programs and transition services varied significantly for students from differing school settings and differing gender, ethnicity, and disability groups and that this often resulted in poor alignment between students' goals and their secondary curricula and transition services. The authors propose that these findings indicated the need for earlier transition planning and better connections between middle and high schools.
A Rational Expectations Theory of Kinks in Financial Reporting

We present a rational model of earnings management. An informed manager, whose compensation is linked to the stock price, trades off the benefit of boosting the stock price by inflating the reported earnings against the costs of such manipulation. The investors rationally interpret his actions and adjust the price accordingly. When the distribution of true earnings and the compensation scheme are smooth, the conventional equilibrium in this signaling framework is also smooth and fully revealing. In this paper, we show that in the same “smooth” environment there exist equilibria in which kinks and discontinuities emerge endogenously in the distribution of reported earnings. The manager optimally chooses a partially pooling strategy, introducing endogenous noise into his report. The resulting vagueness enables the manager to reduce the average manipulation costs. The equilibrium has perfect revelation of earnings in the right and left tails of the distribution, while for intermediate earnings realizations, .
Investigating the factors affecting companies’ attitudes towards CSR and CER during the fiscal crisis in Greece

This paper explores, through a relevant survey, the factors affecting companies’ behaviour towards Corporate Social and Environmental Responsibility (CSR and CER) and how the fiscal crisis in Greece may change companies’ perceptions towards them. All responses were appropriately analysed using multivariate statistical techniques, and showed that companies’ attitude towards CSR/CER is mainly associated with the management systems applied. In addition, it is strongly related to financial results, which are influenced by the recession and the bank credit accessibility problems. Moreover, companies believe that issues such as a company's financial results, reputation/image, market-share/sales etc. are considered as significant incentives to implement CSR/CER actions.
Mortality Risk and Bequests

A lifetime utility model, in which the date of death is uncertain and in which bequests give utility, is analyzed and estimated. The parameter estimates imply that most bequests are accidental, the result of mortality risk, and that the shape of the desired consumption path is sensitive to variations in mortality rates. On average, the elderly in the sample dissave, which is consistent with a life-cycle model in which utility does not depend on bequests. Copyright 1989 by The Econometric Society.
Diversification of External Accountants Serving Small and Medium‐sized Enterprises: Evidence from Belgium

type="main"> The purpose of this study is: (1) to discover which services are offered by external accountants serving small and medium-sized enterprises (SMEs); (2) to study the factors that are associated with the degree of diversification of the services offered by these accountants; and (3) to investigate if there are differences between self-employed accountants and accounting firms on the previous two points. This study has some interesting conclusions: (1) the heterogeneity of internal staff is not significantly associated with the degree of diversification; (2) a homogeneous internal staff with an accounting background is particularly important for accounting firms that diversify their services in the accounting and tax area; (3) collaboration with other service providers is an important factor associated with more diversification of the services; (4) marketing is only important for self-employed accountants; (5) accounting firms offer fewer non-accounting-related services if they serve more micro clients (fewer than 10 employees), whereas self-employed accountants offer more accounting and tax services if they serve more micro clients (fewer than 10 employees); and (6) accounting firms that diversify in accounting and tax services mainly serve more micro clients (fewer than 10 employees), whereas accounting firms that diversify in non-accounting areas serve more larger clients (more than 10 employees).
The Impact of the Sarbanes-Oxley Act on Shareholders and Managers of Foreign Firms

Existing evidence suggests that the Sarbanes–Oxley Act (SOX) may be beneficial to US investors, but that foreign firms are perhaps less likely to list in the USA after SOX. This raises the question of whether foreign firms avoid listing in the USA after SOX because the Act imposes unnecessary costs upon firms. The objective of this article is to reconcile the US and international evidence by distinguishing between the effect of SOX on controlling shareholders and managers of foreign firms and the effect on minority investors of these firms. Our results suggest that insiders of foreign firms believe that the regulation makes the extraction of value from minority investors more difficult and costly for them. Outside investors in foreign firms, on the other hand, seem on average to believe that SOX is beneficial to them. The combination of these results reconciles the existing US and international evidence regarding SOX.
The Explanation of Productivity Change

in combining investment and consumption goods and labour and capital services. We then eliminate errors of measurement in the prices of investment goods arising from the use of prices for inputs into the investment goods sector rather than outputs from this sector. We remove errors arising from the assumption that the flow of services is proportional to stocks of labour and capital by introducing direct observations on the rates of utilization of labour and capital stock. We present rates of growth that result from correct aggregation of investment goods and capital services. Finally, we give rates of growth that result from correcting the aggregation of labour services.