Miracle-dz/UniFAR-FTUs huggingface dataset:
The impact of portfolio size on the variability of the terminal wealth of real estate funds

Studies have examined the number of properties required to reduce the risk in a real estate portfolio. This research has concentrated on examining the impact of portfolio size on the reduction in the standard deviation of returns from ex post time-series data. However, the ex post time-series standard deviation is not really relevant to long-term institutional investors, such as insurance companies and pension funds, who are more concerned with the variability of the terminal wealth of their portfolios, from which policy holders and pensioners will derive their benefits. Long-term investors with specific holding period requirements are less concerned with the within-period volatility of their portfolios than with the possibility that their portfolio returns will fail to finance their liabilities. The terminal-wealth standard deviation (TWSD) rather than the time-series standard deviation (TSSD) has been proposed as the ‘true’ measure of portfolio variability to such investors. This paper compares the potential benefits and limitations of risk reduction, as measured by TWSD and TSSD, in the UK property market using a large sample of actual property returns over the period 1981 to 1996. Copyright © 2002 Henry Stewart Publications
Demonstration of InP-on-Si Self-Pulsating DFB Laser Diodes for Optical Microwave Generation

We demonstrate self-pulsating heterogeneously integrated III-V-on-SOI two-section distributed feedback laser diodes, with a wide range of self-pulsation frequencies between (but not limited to) 12 and 40 GHz. The spectral width of the free-running pulsations is 40 MHz. The dependence of the self-pulsation frequency on the injected current combination and the temperature is investigated. Finally, locking the self-pulsation to an electrical RF signal with power as low as –17 dBm is demonstrated, which can be used for the generation of an optical microwave carrier with a spectral width less than 10 Hz. Such laser could be beneficial for radio-over-fiber applications.
The Importance of Supervisor Support for Effective Hotel Employees

Supervisors’ support of employees promotes job embeddedness, which in turn encourages such essential job outcomes as effective employee performance and reduced employee turnover. The empirical research model tested in this study found that job embeddedness mediates the relationship between supervisor support and such organizationally valued job outcomes as service recovery performance, job performance, and turnover intentions. Data were obtained from 212 full-time frontline hotel employees and their immediate supervisors in four upscale hotels in Cameroon. By taking two surveys a month apart, the study could begin to assess the effects of job embeddedness on voluntary turnover. The chief implication for the hotel industry is that supervisors need to be given the tools to encourage and assist their employees. In addition, the hotel can establish human resource policies that give employees a chance to work as teams and become even more embedded in the organization.
Analysis of the Interaction between the UL11 and UL16 Tegument Proteins of Herpes Simplex Virus

ABSTRACT The UL11 and UL16 tegument proteins of herpes simplex virus are conserved throughout the herpesvirus family. Previous studies have shown that these proteins interact, perhaps to link UL16-bound nucleocapsids to UL11, which resides on the cytoplasmic face of the trans-Golgi network, where maturation budding occurs. Little is known about the interaction except that it requires the leucine-isoleucine (LI) and acidic cluster motifs in UL11 and that no other viral proteins are involved. In particular, the important question of whether these two proteins bind to each other directly has not been addressed. Accordingly, UL11 and UL16 were expressed in bacteria, and the purified proteins were found to retain the ability to interact in a manner that was dependent upon the LI and acidic cluster. In an attempt to map the UL11-binding site contained in UL16, a large number of deletion mutants were constructed. The first 40 (nonconserved) amino acids were found to be dispensable, but all the other constructs failed to bind UL11 or had poor expression in transfected cells, suggesting that UL16 is very sensitive to alterations and probably lacks a multidomain structure. As an alternative strategy for identifying residues that are important for the interaction, the cysteines of UL16 were investigated, because many of these are highly conserved. Approximately half of the 20 cysteines in UL16 have been shown to be covalently modified by N-ethylmaleimide, and this treatment was found to block the interaction with UL11. Moreover, individual serine replacements of six of the most conserved cysteine residues were made, and four of these disrupted the interaction with UL11 without affecting protein stability. However, the UL11-UL16 interaction does not involve the formation of interspecies disulfide bonds, because binding occurred even when all the cysteines in UL11 were eliminated. Thus, UL16 directly interacts with UL11 and does so in a manner that requires free cysteines.
Losing to Win: Tournament Incentives in the National Basketball Association

The focus of tournament models has been rank‐order compensation schemes whereby participants receive higher payments for higher relative performance, either incrementally or winner‐takes‐all. Our research focuses on a unique tournament that offers rewards for both winning and losing, specifically the National Basketball Association’s regularly scheduled season of games. We examine three NBA seasons to determine whether team performance responded to changes in the underlying tournament incentives provided by the NBA’s introduction and restructuring of the lottery system to determine draft order. Our results yield strong evidence that NBA teams are more likely to lose when incentives to lose are present.
Adaptation and modification of three CRISPR loci in two closely related cyanobacteria

An RNA-based screen was performed to reveal a possible evolutionary scenario for the CRISPR-Cas systems in two cyanobacterial model strains. Following the analysis of a draft genome sequence of Synechocystis sp PCC6714, three different CRISPR-Cas systems were characterized that have different degrees of relatedness to another three CRISPR-Cas systems in Synechocystis sp PCC6803. A subtype III-B system was identified that is extremely conserved between both strains. Strong signals in northern hybridizations and the presence of different spacers (but identical repeats) indicated this system to be active, despite the absence of a known endonuclease candidate gene involved in the maturation of its crRNAs in the two strains. The other two systems were found to differ significantly from each other, with different sets of repeat-spacer arrays and different Cas genes. In view of the otherwise very close relatedness of the two analyzed strains, this is suggestive of an unknown mechanism involved in the replacement of CRISPR-Cas cassettes as a whole. Further RNA analyses revealed the accumulation of crRNAs to be impacted by environmental conditions critical for photoautotropic growth. All six systems are associated with a gene for a possible transcriptional repressor. Indeed, we identified one of these genes, sll7009, as encoding a negative regulator specific for the CRISPR1 subtype I-D system in Synechocystis sp PCC6803.
Tip-of-the-tongue states reveal age differences in the syllable frequency effect.

Syllable frequency has been shown to facilitate production in some languages but has yielded inconsistent results in English and has never been examined in older adults. Tip-of-the-tongue (TOT) states represent a unique type of production failure where the phonology of a word is unable to be retrieved, suggesting that the frequency of phonological forms, like syllables, may influence the occurrence of TOT states. In the current study, we investigated the role of first-syllable frequency on TOT incidence and resolution in young (18-26 years of age), young-old (60-74 years of age), and old-old (75-89 years of age) adults. Data from 3 published studies were compiled, where TOTs were elicited by presenting definition-like questions and asking participants to respond with "Know," "Don't Know," or "TOT. " Young-old and old-old adults, but not young adults, experienced more TOTs for words beginning with low-frequency first syllables relative to high-frequency first syllables. Furthermore, age differences in TOT incidence occurred only for words with low-frequency first syllables. In contrast, when a prime word with the same first syllable as the target was presented during TOT states, all age groups resolved more TOTs for words beginning with low-frequency syllables. These findings support speech production models that allow for bidirectional activation between conceptual, lexical, and phonological forms of words. Furthermore, the age-specific effects of syllable frequency provide insight into the progression of age-linked changes to phonological processes. (PsycINFO Database Record (c) 2010 APA, all rights reserved).
Fixed Exchange Rate Versus Inflation Targeting: Evidence from DSGE Modelling

We evaluate implications of inflation targeting versus fixed exchange rate regime for the UK, Sweden, Poland, the Czech Republic, Estonia, Latvia and Lithuania, i.e. seven EU non-euro area countries. To this end, we estimate a small open economy DSGE model and simulate a model under estimated structural parameters and different sets of policy parameters. The results obtained are compared in terms of inflation, output gap and interest rate volatility. For inflation targeting countries, a policy switch to fixed exchange rate would entail 3–6 times higher inflation volatility. In the Baltic economies, a policy change to inflation targeting with fully flexible exchange rate would amplify inflation volatility 2–4 times, whereas the existing price stabilisation and exchange rate fluctuations within the ERM II bands would entail 3–6 times more volatile inflation. Policy simulations thus show evidence that in all the countries the existing monetary rule guarantees more stable inflation and output than under alternative regimes.
Fiscal Policy and Growth in Saudi Arabia

Whether government spending can boost the pace of economic growth is widely debated. In the neoclassical growth model, it is supplies of productive resources and productivity that determine growth in the long-run. In endogenous growth models, an increase in government spending may raise the steady-state rate of growth due to positive spillover effects on investment in physical and/or human capital. This paper examines the relationship between government spending and non-oil GDP in the case of Saudi Arabia. Using time-series methods and data for 1969-2005, we find that increases in government spending have a positive and significant long-run effect on the rate of growth. Estimated effects of current expenditure on growth turn out to exceed those of capital expenditure—suggesting that government investment in infrastructure and productive capacity has been less growth-enhancing in Saudi Arabia than programs to improve administration and operation of government entities and support purchasing power. We discuss possible reasons for this finding in the Saudi case and draw some policy implications.
The Relationship Between Distribution and Market Share

This paper develops an aggregate-level model of distribution and market share for frequently purchased, branded consumer goods that is founded in the concepts of “push” and “pull. ” The model makes a key distinction between uncompromised and compromised demand as sources of market share. Uncompromised demand is demand that is satisfied when the preferred brand is found; compromised demand results from brands that lack broad distribution and whose potential customers are willing to compromise and purchase another brand when the preferred brand is not present. Trade behavior is also addressed by analyzing the effects of consumer demand “feedback” on the trade's decision to stock and merchandise the brand. Compromised demand and feedback effects may be critical, and often overlooked, determinants of market share. Under a variety of model assumptions, analytical results are consistent with longitudinal and cross-sectional evidence that market share is a convex function of distribution, increasing at an increasing rate up to 100 percent distribution. In addition to these insights, we believe that the model has promise for future normative work on balancing push and pull marketing effects.
Starting the study of electronic circuits with VISIR: Viewpoints of college students in a pilot test in Argentina

This paper aims at introducing the first intensive use of a remote lab named as VISIR by lecturers and students from Facultad de Ciencias Exactas, Ingeniería y Agrimensura, Universidad Nacional de Rosario. The research was carried under the VISIR + project. It is a pilot test in which 17 students from the third year of an Electronic Engineering degree took part. The pilot test was developed in order to bring forward possible difficulties, assess successes and failures and eventually suggest other possible ways of curricular incorporation of VISIR in the teaching of the Physics of Electronic Devices subject. VISIR was used as a complement to hands-on lab, after the last experimental design activity of basic circuits with bipolar transistor. The students carried out an individual lab work. Then, they were asked to answer an opinion poll made up of 20 items, 1–4 Likert scale. Descriptive statistical analysis and summary of cases were carried out in order to conclude about four dimensions of analysis linked to the students' viewpoint. They are: perceived learnings, VISIR acceptance, perceived teachers' guidance and time and technical restrictions.
Technology, Development and Innovation Systems: An Introduction

Abstract Today's thinking about growth associates economic and social development, institutions and technology. This short introduction presents some key concepts linking these elements and highlights the importance of the innovation systems approach as a framework of analysis for economic development. Also, the innovation systems approach is most often framed in evolutionary economics. The links between innovation systems (a middle range theory) and evolutionary concepts are presented summarily.
Price Dynamics in Limit Order Markets

This article presents a one-tick dynamic model of a limit order market. Agents choose to submit a limit order or a market order depending on the state of the limit order book. Each trader knows that her order will affect the order placement strategies of those who follow and the execution probability of her limit order is endogenous. All traders take this into account which, in equilibrium, generates systematic patterns in transaction prices and order placement strategies even with no asymmetric information. Article published by Oxford University Press on behalf of the Society for Financial Studies in its journal, The Review of Financial Studies.
Convergence behavior of the normalized least mean fourth algorithm

The normalized least mean fourth (NLMF) algorithm is presented in this work and shown to have potentially faster convergence. Unlike the LMF algorithm, the convergence behavior of the NLMF algorithm is independent of the input data correlation statistics. Sufficient conditions for the NLMF algorithm convergence in the mean are obtained and the analysis of the steady-state performance is carried out using the feedback approach. Simulation results confirm the performance of the NLMF algorithm.
A historical perspective and empirical analysis on development of theme parks in Japan

Purpose – The purpose of this paper is to put modern history of theme park developments in Japan in perspective and identify the challenges associated with theme parks in Japan.Design/methodology/approach – Amid the structural lack of theme‐park related operational and financial data, the authors approached the issue from the analyses of limited information on theme parks in Japan, where most, if any, of the available data are in Japanese only. This precluded the authors to conduct quantitative analyses of the parks in Japan.Findings – The authors found that two of the comparable large‐scale theme park developments in Japan led to dramatically different operating results and that continued innovation of the contents of the park is one of the notable differences when the two parks are compared.Practical implications – The paper highlights the dramatic failure of one park, while in contrast the other thrives; underscoring that theme park investment is subject to embracing high‐risk, high‐maintenance and con.
Vacancies and the Recruitment of New Employees

Little is known about the search strategy that employers use in their efforts to fill job vacancies. In this article, we analyze unique micro data to study this search strategy. We conclude that almost all vacancies are filled from a pool of applicants that is formed shortly after the posting of the vacancy. Hence, vacancy durations should be interpreted as selection periods and not as search periods for applicants.
Managing Stock Option Expense: The Manipulation of Option-Pricing Model Assumptions*

This paper examines whether firms that voluntarily recognize stock option expense in their financial statements manage that expense downward more than firms that do not recognize the expense by adjusting option-pricing model assumptions. To examine this issue, I collect option-pricing model assumptions from fiscal year 2002 for both a sample of firms that voluntarily recognize stock option expense (i.e., recognizing firms) and a sample of control firms that do not (i.e., disclosing firms). The empirical results suggest that recognizing firms manage the recognized stock-based compensation expense reported in their financial statements downward, relative to firms that only disclose the expense. Additional analyses reveal that recognizing firms assume a lower level of volatility than disclosing firms in the option-pricing model calculations; however, I find no evidence that recognizing firms manage the dividend yield and risk-free interest rate assumptions more than disclosing firms. Since the Financial Accounting Standards Board recently issued SFAS No. 123(R) which requires the expensing of the fair value of stock options, these results may be of interest to capital market participants as they assess the reliability of stock option expense as determined by option-pricing models.
INNATE RESISTANCE TO EPIZOOTIC HEMORRHAGIC DISEASE IN WHITE-TAILED DEER

Differences in innate disease resistance at the sub-species level have major implications for wildlife management. Two subspecies of white-tailed deer, Odocoileus virginianus borealis and O. virginianus texanus were infected with epizootic hemorrhagic disease (EHD) viruses. These viruses are highly virulent pathogens of white-tailed deer and are endemic within the range of O. virginianus texanus but not within the range of O. virginianus borealis. Two experimental infections were performed. Five O. virginianus texanus fawns and five O. virginianus borealis fawns were infected with 107.1 median tissue culture infective doses (TCID50) of EHD virus, serotype 1 and five of each subspecies were infected with 107.1 TCID50 of EHD virus, serotype 2. Infections with both EHD virus serotypes caused severe clinical disease and mortality in O. virginianus borealis fawns, whereas disease was mild or nondetectable in O. virginianus texanus fawns. Virus titers and humoral immune response were similar in both subspecies suggesting that differences in innate disease resistance explain the differences seen in clinical disease severity. In white-tailed deer, innate disease resistance may vary at the subspecies level. Should this phenomenon occur in other species, these findings have major implications for managing wildlife populations, both endangered and non-endangered, using tools such as translocation and captive propagation.
Firm Mortality and Natal Financial Care

We construct a mortality table for U.S. public companies during 1985–2006. We find that firms’ age-specific mortality rates initially increase, peaking at age three, and then decrease with age, implying that the first three years of public life are critical. Financial intermediaries involved around the public birth of a firm — venture capitalists (VCs) and high-quality underwriters — are associated with lower firm mortality rates, sometimes for up to seven years after the IPO. VCs reduce mortality rates more through natal financial care than through selection, whereas high-quality underwriters affect firm mortality more through selection.
Pengaruh Investasi Terhadap Penyerapan Tenaga Kerja Di Kabupaten Pelalawan

The successful achievement of the welfare of a nation can be measured by the extent to which a country can solve a variety of problems that are being faced. One of the problems faced by almost all regions in Indonesia is the high unemployment rate. Employment is an important factor in supporting economic development undertaken by developing countries in order to create equitable economic development. The purpose of this study is to analyze the development of investment and employment in Pelalawan of years 2003-2012 and to analize influence of investment on employment in Pelalawan years 2003-2012. This study uses secondary data in the form of time series with the observation period 2003-2012. Data obtained from Badan Pusat Statistik (BPS) and Badan Penanaman dan Investasi Riau Province’s. Data analysis using regression analysis to determine the effect of investment on employment in Pelalawan. Data processing using SPPS program 17.00. The results showed that the investment is not influence significantly on employment in Pelalawan. Keywords: Investment, Man Power
Evaluating the English Home Zone Initiatives

Problem: What lessons on street design can professional planners take from recent English home zone initiatives? Purpose: This article is a comparative evaluation of English home zones, or streets shared by vehicles and pedestrians based on the Dutch woonerf concept. This approach to street design is intended to improve livability. Methods: I used monitoring data on 14 home zone projects to draw generalizable lessons from the initiatives. Results and conclusions: Although the concept of the home zone has not been fully implemented in all cases, these projects exhibited lower traffic speeds and continued low or reduced numbers of traffic accidents compared to conditions before the home zones were implemented, and residents report that they now feel their streets are safer for their children. Residents also report finding the home zone streets to be more attractive than they were previously, and some of those in high crime areas experienced reduced levels of crime and antisocial behavior, although these results were not obtained everywhere. Evidence that the treatments resulted in more socializing among adults is less convincing. In general the projects are very well received by residents, demonstrating that this approach to street design improves livability. However, the evidence suggests that similar effects might be realized with less comprehensive and expensive solutions. Takeaway for practice: The introduction of home zone design qualities has contributed to improved livability in established residential streets. Research support: None.