Miracle-dz/UniFAR-FTUs huggingface dataset:
A Test of Asset-Pricing Models at the Nairobi Securities Exchange

The Capital Asset Pricing Model (CAPM) has for a long time been used to explain the variations in expected return on stocks. However, the discoveries of market anomalies such as the Size, Book-to-Market and the Momentum effects, have greatly undermined CAPM’s ability to explain the expected returns on stocks. These anomalies prompted Fama and French (1993) and Carhart (1997) to propound asset pricing models that captured the effects of these anomalies. This study sought to test whether the CAPM, Fama and French (1993) Threefactor model and the Carhart’s (1997) Four-factor model can explain the returns of stocks traded in the NSE, from a portfolio perspective. The stock returns used in this study were those for the forty eight companies that trade under the MIMS in the NSE, during the period January 2009 to December 2013. Six portfolios that were sorted for size and Book-to-Market were created and used to test the CAPM as well as the Fama and French (1993) Three-factor model. Also, an additional six portfolios that were sorted for size and past performance were constructed to test the Carhart’s (1997) Four-factor model. The data was then analyzed using time series regression analysis and the estimated parameters were tested for significance. This study finds that even though the CAPM has been highly regarded for many years, when tested at the NSE from a portfolios perspective, the evidence in support of it is weak. This study finds that other significant factors exists that were not captured by CAPM, implying therefore that beta is not an adequate measure of risk. Also, as for the Fama and French (1993) Three-factor model, this study finds that it doesn’t quite capture all the factors influencing the returns of stocks traded at the NSE. However, this study finds that the Carhart’s (1997) Four-factor model performs better relative to the CAPM and the Fama and French (1993) Three-factor model, as it was observed to have a better explanatory power of the variation of expected returns of most of the sets of portfolios that it was tested on. The findings of this study will be of great significance to the finance academia and policy makers as it will assist in boosting their understanding of an asset-pricing model that can explain better, the variations in returns of stocks traded at the security exchange.
The varieties of high-skilled immigration policies: coalitions and policy outputs in advanced industrial countries

This paper presents a comparative political economy theoretical framework of high-skilled immigration (HSI) policies in advanced industrial countries. It seeks to explain the differences between countries' policies in terms of HSI openness. I take from the traditional partisanship approach that political parties will pursue policies consistent with the preferences of their major constituencies. I have divided labour and capital into high- and low-skilled sectors. I argue that, despite converging policy goals for more open HSI in order to fill labour market shortages, there continue to be differences between countries' HSI policies. No consistent HSI position between left and right parties exists cross-nationally because different coalitions between sectors of high-skilled labour, low-skilled labour and capital take place. I analyse more open or restrictive HSI outputs by portraying actors' preferences, aggregated in coalitions and intermediated by institutional constraints (labour market organization and electoral system) across advanced industrial countries.
Size of foreign direct investment and firm characteristics

This paper focuses on the role of classifying types of foreign direct investment (FDI) for analysing the determinants of cross-border investment relationships. We base our investigation on a newly established firm-level data set of German multinational firms and their affiliates in the Czech Republic that allows various categorisations into vertical foreign direct investment (VFDI) and horizontal foreign direct investment (HFDI). Apart from data for conventional approaches to classifying FDI types, the surveyed information contained herein also includes a detailed self-assessment of the firms with respect to investment motives, and specifications on intra-firm trade and the flow of intermediate inputs. In order to correct for sample selection, we apply a two-step Heckman procedure by comparing multinational firms that have an affiliate in the Czech Republic to companies without investment abroad. The results for the direct measures of FDI types confirm theoretical expectations and previous empirical literature and stand in marked contrast to the outcome for indirect measurement concepts. Our finding leads us to the conclusion that one should be more cautious in interpreting differences between vertical and horizontal FDI when using approximative classification concepts.
Studies on preparation of herbal whey based beverage by using menthol

This study was carried with incorporation of Mentha arvensis extract (2-6%) to prepare herbal whey beverage. These experiment have four different treatment combinations viz., T-1 (80% whey with 20% beetroot extract), T-2 (80% whey with 20% beetroot extract and 2% Mentha extract), T-3 (80% whey with 20% beetroot extract and 4% Mentha extract) T-4 (80% whey with 20% beetroot extract and 6% Mentha extract). The amount of sugar was fixed at 7 percent in all in 100 ml of beverage in all treatments. All the samples were chemically analyzed using standard procedures. It was also observed that as the Mentha extract increased, there was decrease in acidity, total solids and fat content of herbal whey beverage and increased in pH, protein, ash, total sugar and moisture content of herbal whey beverage. The different organoleptic characteristics viz., colour and appearance, flavour, taste, consistency and overall acceptability were recorded of fresh beverage. Among the tested treatments with regards to the organoleptic characteristics, it was observed that treatment T-4 was significantly superior over other treatments which had the highest score viz., 8.51 of whey beverage prepared by using 6% Mentha extract. The acceptability of the whey beverage was measured in terms of sensory attributes such as, colour and appearance, flavour, consistency and taste/ mouth feel using 9 point hedonic scale by a panel of five semi-expert judges. The data so obtained were analyzed using Completely Randomized Block Design (CRBD). Development of such herbal whey beverages based upon whey, beetroot and menthol to exhaust nutritional, therapeutic as well as medicinal properties of beetroot and menthol.
FIRE in the field: Simulating the threshold of galaxy formation

We present a suite of 15 cosmological zoom-in simulations of isolated dark matter haloes, all with masses of M_(halo) ≈ 10^(10) M_⊙ at z = 0, in order to understand the relationship among halo assembly, galaxy formation and feedback's effects on the central density structure in dwarf galaxies. These simulations are part of the Feedback in Realistic Environments (FIRE) project and are performed at extremely high resolution (m_(baryon) = 500 M_⊙, m_(dm) = 2500 M_⊙). The resultant galaxies have stellar masses that are consistent with rough abundance matching estimates, coinciding with the faintest galaxies that can be seen beyond the virial radius of the Milky Way (M_*/M_⊙ ≈ 10^5 − 10^7). This non-negligible spread in stellar mass at z = 0 in haloes within a narrow range of virial masses is strongly correlated with central halo density or maximum circular velocity V_(max), both of which are tightly linked to halo formation time. Much of this dependence of M_* on a second parameter (beyond M_(halo)) is a direct consequence of the M_(halo) ∼ 10^(10) M_⊙ mass scale coinciding with the threshold for strong reionization suppression: the densest, earliest-forming haloes remain above the UV-suppression scale throughout their histories while late-forming systems fall below the UV-suppression scale over longer periods and form fewer stars as a result. In fact, the latest-forming, lowest-concentration halo in our suite fails to form any stars. Haloes that form galaxies with M_⋆ ≳ 2 × 10^6 M_⊙ have reduced central densities relative to dark-matter-only simulations, and the radial extent of the density modifications is well-approximated by the galaxy half-mass radius r_(1/2). Lower-mass galaxies do not modify their host dark matter haloes at the mass scale studied here. This apparent stellar mass threshold of M_⋆ ≈ 2 × 10^6 − 2 × 10^(−4) M_(halo) is broadly consistent with previous work and provides a testable prediction of FIRE feedback models in Λcold dark matter.
Where Would the EUR/CHF Exchange Rate Be Without the SNB's Minimum Exchange Rate Policy?

Since its announcement made on September 6, 2011, the Swiss National Bank (SNB) has been pursuing the goal of a minimum EUR/CHF exchange rate of 1.20, promising to intervene on currency markets to prevent the exchange rate from falling below this level. We use a compound option pricing approach to estimate the latent exchange rate that would prevail in the absence of the SNB's interventions, together with the market's confidence in the SNB's commitment to this policy. © 2014 Wiley Periodicals, Inc. Jrl Fut Mark 35:1103–1116, 2015
Factors That Account For Low Enrollment In Community-Based Senior High Schools In The Ashanti Region Of Ghana

The study was to explore the factors that account for low enrolments in senior high schools in the Ashanti Region of Ghana. The purpose of the study was to investigate the factors that account for low enrolments in the community-based senior high school in the Ashanti Region of Ghana. The purpose of the study was to investigate socio-economic factors, school related factors, geographical factors and individual characteristics that influence enrolments, participation, retention, attendance, progression and dropout in community-based senior high schools in Ashanti Region of Ghana. The purposive and quota sampling were used to select a sample size of 120 respondent make up of 10 heads, 10 Districts Directors of Education, 10 PTA chairmen and 90 parents of sampled schools. The instruments used to collect data from the respondents were the questionnaire for heads, structured interview guide for parents. PTA Chairmen and the District Directors of GES and observation guide on school building and furniture. The reliability co-efficient of the study was 0.82. The co-efficient is high enough and hence the items were deemed reliable for the study. Data were analysed by the use of frequencies, percentages and apparent cohort method. The finding of the study indicated that most of the sampled senior high schools do not have school bus to convey day students to and from schools. The sample senior high schools do not have workshops for all programmes, classrooms and standard science laboratories and science equipment to enhance academic work.
Bayesian constrained variable selection

By building on the stochastic search approach (George and McCulloch (1993)) we propose a strategy for performing constrained variable selection. We discuss hierarchical and grouping constraints, and introduce anti-hierarchical con- straints in which the inclusion of a variable forces another to be excluded from the model. We prove consistency results about models receiving maximal posterior probability, and about the median model (Barbieri and Berger (2004)), and discuss extensions to generalized linear models.
In-source CID mass spectral libraries for the “general unknown” screening of drugs and toxicants

A “general unknown” screening procedure for drugs and toxicants using LC-ES-MS was developed. It involved in-source collision induced dissociation of the molecular ions (in the negativeion mode) or protonated molecules (in the positive-ion mode) generally obtained from electrospray sources. Spectra were reconstructed by adding, on one hand, a pair of positive spectra, one without and one with fragmentation, and on the other a pair of negative spectra acquired in similar conditions. These reconstructed spectra showed at least as many fragments as MS/MS spectra, and sometimes as many as electron-ionisation spectra. They were repeatable and reproducible enough to be used for the specific identification of hundreds of molecules. Libraries of about 1100 positive spectra and 500 negative spectra were constructed and are used routinely, together with chromatographic separation involving a Nucleosil C18, 5 µm column (150 〈 1m m i.d.) and a gradient of acetonitrile in 2 mM, pH 3 ammonium formate as a screening technique complementary to GC-MS and HPLC-DAD.
Actellic 2% dust as pesticide in feed ingredients: Effects on haematological and serum metabolites in growing rabbits

The study was designed to evaluate the tolerance, survivability, hematological and biochemical indices of weaner rabbits fed diet contaminated with varying levels of Actellic 2% dust. The effects of the pesticide on the clinical state of the animals were also appraised. A uniform diet was compounded from ingredients certified to be apparently pesticide residue-free. This diet was partitioned into 5 sub-diets. The first partition A had no residue, serving as control, while B, C, D, and E had 0.01, 0.02, 0.03 and 0.04% inclusion of the Actellic 2% dust, respectively. A total of 20 rabbits of mixed breeds and sexes were used in the experiment. The animals were balanced for breed, sex and weight in a completely randomized design experiment. Four animals each were placed on each treatment diets for 45 days which were preceded by 3 weeks of acclimatization. Blood was collected and analysed at the end of the experiment. Haematological parameters (PCV, WBC, RBC, ESR, platelets, MCV, MCH, MCHC) and biochemical parameters (urea, serum protein, ALP, SGOT, SGPT, K
Histopathology of Internal Organs of Farm Animals Fed Genetically Modified Corn and Soybean Meal

Abstract Histopathological examination of liver, kidney, spleen, pancreas, duodenum, jejunum, skeletal muscle, and bursa of Fabricius samples, collected from broiler chickens, laying hens, fattening pigs, and calves fed genetically modified corn MON 810 and soybean meal MON-40-3-2 (Roundup Ready, RR), was performed The examination showed no significant differences between the control animals fed diets containing no genetically modified feeds and animals fed genetically modified feeds. In some cases, congestion of parenchyma and focal lymphoid cell infiltrations were observed in all dietary groups, including controls, and therefore, it was assumed that the lesions were not associated with the feeding transgenic feeds.
Distribution and Abundance of Fire Ant Decapitating Flies (Diptera: Phoridae: Pseudacteon) in Three Regions of Southern South America

Abstract The distribution and abundance of fire ant decapitating flies (Diptera: Phoridae: Pseudacteon Coquillett) were studied in three regions of southern South America, primarily from September 2002 to September 2004. A total of 2,421 flies belonging to 14 Pseudacteon species were found at 51% of the 662 fire ant mounds examined at 125 collecting sites. Flies occurred in a variety of habitats at altitudes from sea level to 2,280 m. Pseudacteon obtusus Borgmeier (large form) was found at the highest altitude and at the most western longitude. Flies were active between 16 and 37°C, 20 and 90% RH, and 0 and 11.6 km/h wind speed. Pseudacteon curvatus Borgmeier showed the highest abundance and one of the broadest geographical distributions. Pseudacteon tricuspis Borgmeier, P. litoralis Borgmeier, the large form of P. obtusus, P. nudicornis Borgmeier, and P. nocens Borgmeier also were widely distributed. These species seem to be the most generalized within saevissima-group. Pseudacteon solenopsidis Schmitz was only collected attacking isolated workers. A new Pseudacteon species was discovered in northwestern Argentina. Seven fly species were reported for the first time on a new fire ant host in this region. Pseudacteon cultellatus Borgmeier was found for the first time on Solenopsis invicta Buren in Corrientes province in northeastern Argentina, where up to nine fly species have been found to cooccur. Males of P. tricuspis and P. obtusus were the only males normally attracted to disturbed fire ant colonies.
PANDA: A Dual Linearly Converging Method for Distributed Optimization Over Time-Varying Undirected Graphs

In this paper we consider a distributed convex optimization problem over time-varying networks. We propose a dual method that converges R-linearly to the optimal point given that the agents' objective functions are strongly convex and have Lipschitz continuous gradients. The proposed method requires half the amount of variable exchanges per iteration than methods based on DIGing, and yields improved practical performance as empirically demonstrated.
Determining Frequency of Prescription, Administration and Transcription Errors in Internal Intensive Care Unit of Shahid Faghihi Hospital in Shiraz with Direct Observation Approach

Medication errors (MEs) are the most common error in ICUs. In fact, 78% of all serious errors in ICUs are due to MEs. Therefore, detecting MEs has vital significance. The goal of this study was to investigate the frequency, type and consequences of different types of errors including prescribing, transcribing and administration errors in an ICU of a large teaching hospital. Disguised direct observation method was used to detect errors. A pharmacy student observed 307 doses in 46 days of 6 h shifts. Observation data were entered in a form designed specifically for this purpose. Two hundred and fourteen MEs were identified in 307 doses. This is equivalent to 69.7% of total error. The error breakdown is as follows: administration errors 43.1%, preparation errors 24.1% and transcription errors 2.5%. Administration techniques and monitoring were determined to be the most common errors of MEs. Nearly, 89.4% of errors did not result in imminent danger to the patients. In the ICU under this study, the most common MEs were administration and prescription errors. To improve the quality of care in the ICU and reduce MEs, efforts should be directed to correct the wrong administration technique and inappropriate monitoring. The use of pharmacy department in drug preparation instead of drug preparation by nurses, using protocols for IV infusions, providing equipment and trained personnel for therapeutic drug monitoring and measuring medications level may help reduce suboptimal drug prescription and administration.
The Canadian for the Scholarship of Teaching and Learning Does Correct Answer Distribution Influence Student Choices When Writing Multiple Choice Examinations?

Summative evaluation for large classes of first- and second-year undergraduate courses often involves the use of multiple choice question (MCQ) exams in order to provide timely feedback. Several versions of those exams are often prepared via computer-based question scrambling in an effort to deter cheating. An important parameter to consider when preparing multiple exam versions is that they must be equivalent in their assessment of student knowledge. This project investigated a possible influence of correct answer organization on student answer selection when writing multiple versions of MCQ exams. The specific question asked was whether the existence of a series of four to five consecutive MCQs in which the same letter represented the correct answer had a detrimental influence on a student’s ability to continue to select the correct answer as he/she moved through that series. Student outcomes from such exams were compared with results from exams with identical questions but which did not contain such series. These findings were supplemented by student survey data in which students self-assessed the extent to which they paid attention to the distribution of correct answer choices when writing summative exams, both during their initial answer selection and when transferring their answer letters to the Scantron sheet for correction. Despite the fact that more than half of survey respondents indicated that they do make note of answer patterning during exams and that a series of four to five questions with the same letter for the correct answer would encourage many of them to take a second look at their answer choice, the results pertaining to student outcomes suggest that MCQ randomization, even when it does result in short serial arrays of letter-specific correct answers, does not constitute a distraction capable of adversely influencing student performance. réponses correctes identifiées par la même lettre, ne constitue pas une distraction capable d’influencer négativement le rendement des étudiants.
Abyssal origin for the early Holocene pulse of unradiogenic neodymium isotopes in Atlantic seawater

The neodymium isotopic composition of authigenic phases of deep-sea sediment cores can be interpreted as reflecting past changes in water-mass mixing proportions if end-member water-mass compositions are constrained through time. Here we present three new records spanning 2480 to 4360 m depth in the North Atlantic Ocean that show seawater Nd isotope values in the early to mid-Holocene that are more radiogenic than values from the abyssal northwest Atlantic. This finding indicates that that the end-member composition of North Atlantic Deep Water was more stable within its core than it was at abyssal depths. The spatial distribution of the unradiogenic neodymium isotope values observed in the North Atlantic suggests a bottom source, and therefore that they were unlikely to have been due to the production of intermediate-depth Labrador Sea Water. We infer that the unradiogenic authigenic Nd isotope values were most likely derived from a pulse of poorly chemically weathered detrital material that was deposited into the Labrador Sea following Laurentide ice sheet retreat in the early Holocene. This unradiogenic sediment released neodymium into the bottom waters, yielding an unradiogenic seawater signal that was advected southward at abyssal depths and attenuated as it vertically mixed upward in the water column to shallower depths. The southward dispersion of these unradiogenic seawater values traces deep-water advection. However, the exact values observed at the most abyssal sites cannot be interpreted as proportionate to the strength of deep-water production without improved constraints on end-member changes.
Neural correlates of non-familiar face processing

Adaptation to a given face leads to face-related, specific after-effects. Recently, this topic has attracted a lot of attention because it clearly shows that adaptation occurs even at the higher stages of visual cortical processing. However, during our every-day life, faces do not appear in isolation, rather they are usually surrounded by other stimuli. Here, we used psychophysical and fMRI adaptation methods to test whether humans adapt to the gender properties of a composite multiple face stimulus as well. As adaptors we used stimuli composed of eight different individual faces, positioned peripherally in a ring around a fixation mark. We found that the gender discrimination of a subsequent centrally presented target face is significantly biased as a result of long-term adaptation to either male or female multiple face stimuli. Similar to our previous results with single-face adaptors (Kovács et al. in Neuroimage 43(1):156–164, 2008), a concurrent functional magnetic resonance imaging adaptation experiment revealed the strongest blood oxygen level–dependent signal adaptation bilaterally in the fusiform face area. Our results suggest that humans extract the statistical features of the multiple face stimulus and this process occurs at the level of occipito-temporal face processing.