Miracle-dz/UniFAR-FTUs huggingface dataset:
Socio-economic impacts of microfinance and repayment performance: a case study of the Small Enterprise Foundation, South Africa

The socio-economic impacts of microcredits on women's welfare were studied in northeastern South Africa using a qualitative semi-structured interviewing method. The study focuses particularly on the benefits, disadvantages and challenges obtained from The Small Enterprise Foundation (SEF) microcredit village programmes (Micro Credit Programme (MCP) and the T'shomisano Credit Programme (TCP)). Impacts of microcredits and a comparison of two programmes were analysed on a household level. The results revealed that a number of the poorest women have been released from deepest poverty through the opportunities provided by SEF. The MCP clients, who tend to have a better starting point, seemed to be more educated, able to diversify and improve their businesses as well as being more capable of protecting themselves against vulnerability than the poorer TCP clients. Many repayment problems were caused by group heterogeneity. Particularly in the MCP, the incentive to free-ride seemed to be a problem phenomenon. These drawbacks demonstrate that there are still some unresolved disadvantages in the programmes.
How Did Public Services Fare? A Review of Australian State Public Service Labour Markets During the Global Financial Crisis

Public employment was traditionally seen as a ‘good job’, and governments were seen as ‘model’ employers. That reputation has faded in recent years due to factors including public management reforms that changed traditional public service employment. This research considers how the Australian public service labour market fared compared to the private sector during the global financial crisis. The research compares public and private sector outcomes in Australian states, focusing on two indicators of the size of the public service and wage outcomes. It finds that the global financial crisis did not enhance job prospects or conditions in Australian state public services, and potentially further detracted from public perceptions of governments as ‘model’ employers and the desirability of public service jobs. The crisis also highlighted the institutional tensions and complexities of the contemporary public employment environment.
Lethal effects caused by suspended particles and sediment load on zoospores and gametophytes of the brown alga Eisenia bicyclis

The effects caused by suspended particles in seawater and sediment cover of the substrate on the attachment to the substrate of zoospores, and on the subsequent growth and survival of gametophytes of the brown alga Eisenia bicyclis were examined in the laboratory. The attachment rate to the substrate of the zoospores was remarkably reduced by the sediment cover on the substrate, and it decreased to 3.8% of the no-sediment control by a slight sediment cover of 3.0 mg/cm2 (0.048 mm in thickness). The growth of gametophytes was not inhibited at 10 mg/cm2 or less of sediment cover, though it was stopped at 30 mg/cm2. The survival rate of gametophytes became 39.4% at 5 mg/cm2 on the substrate, and gametophytes were all blighted at 30 mg/cm2. The ratio of male of female of the surviving gametophytes became 81.5:18.5, when the sediment cover was 10 mg/cm2. The rate of total loss (TL [%]) of zoospores and gametophytes of Eisenia bicyclis was obtained from the following equation: TL=100 (1−exp[−0.0339 C] exp[−1.24 Q]), where, C(mg/L) and Q (mg/cm2) indicate the concentration of suspended particles in seawater and the sediment on the substrate, respectively.
Simulating Dynamic Capabilities and Value Creation in Family Firms

The authors conduct a simulation study using system dynamics methods to interpret how and when paternalism affects dynamic capabilities (DCs) and by association value creation in family firms. Their simulation experiments suggest that the effect of paternalism on DCs and value creation varies over time. Initially, increasing levels of family social capital and low levels of paternalism are associated with high rates of DCs and value creation accumulation (asset). Later, higher levels of paternalism produce their pressure to decrease DCs, value creation, and family social capital accumulation rates (liability).
Total quality management practices, competitive strategies and financial performance: the case of the Palestinian industrial SMEs

The purpose of this paper is to examine the relationship between total quality management (TQM) practices, competitive strategies – cost leadership and differentiation – and firm performance in the Palestinian economy. Within this study, TQM has been conceptualised as soft and hard practices, in congruence with the literature. An empirical analysis based upon an extensive validation process was applied to refine TQM, competitive strategies and financial performance scales. Data were collected through surveying 202 Palestinian industrial small and medium enterprises. Structural equation modelling was carried out to test the anticipated relationships. Results derived from this study show that TQM practices have an indirect, positive and significant relationship with financial performance through competitive strategies. In addition, a direct, positive and significant relationship between competitive strategies and financial performance was observed. Results derived from this study might help managers to implement TQM practices in order to effectively allocate resources and improve financial performance.
Optimal pricing and inventory control policy in periodic‐review systems with fixed ordering cost and lost sales

This paper studies a periodic‐review pricing and inventory control problem for a retailer, which faces stochastic price‐sensitive demand, under quite general modeling assumptions. Any unsatisfied demand is lost, and any leftover inventory at the end of the finite selling horizon has a salvage value. The cost component for the retailer includes holding, shortage, and both variable and fixed ordering costs. The retailer's objective is to maximize its discounted expected profit over the selling horizon by dynamically deciding on the optimal pricing and replenishment policy for each period. We show that, under a mild assumption on the additive demand function, at the beginning of each period an (s,S) policy is optimal for replenishment, and the value of the optimal price depends on the inventory level after the replenishment decision has been done. Our numerical study also suggests that for a sufficiently long selling horizon, the optimal policy is almost stationary. Furthermore, the fixed ordering cost (K) plays a significant role in our modeling framework. Specifically, any increase in K results in lower s and higher S. On the other hand, the profit impact of dynamically changing the retail price, contrasted with a single fixed price throughout the selling horizon, also increases with K. We demonstrate that using the optimal policy values from a model with backordering of unmet demands as approximations in our model might result in significant profit penalty. © 2005 Wiley Periodicals, Inc. Naval Research Logistics, 2006
The Comovement of Us and UK Stock Markets

"US and UK stock returns are highly positively correlated over the period 1918-99. Using VAR-based variance decompositions, we investigate the nature of this comovement. Excess return innovations are decomposed into news about future dividends, real interest rates, and excess returns. We find that the latter news component is the most important in explaining stock return volatility in both the USA and the UK and that stock return news is highly correlated across countries. This is evidence against Beltratti and Shiller's l1993r finding that the comovement of US and UK stock markets can be explained in terms of a simple present value model. We interpret the comovement as indicating that equity premia in the two countries are hit by common real shocks". Copyright Blackwell Publishers Ltd, 2004.
The diffusion of new technology and the market for an innovation

This article shows that the diffusion of a capital-embodied process innovation results from a pattern of decreasing incremental benefits and adoption costs for later adoptions. Strategic behavior is inessential to this finding. We develop a method for comparing diffusion rates for different market structures in the capital equipment market. We consider cases with market power on the seller's side of the market and on the buyers' side of the market, a case with no market power, and the welfare-optimal case. We find that a joint venture adopts an innovation more slowly than other market regimes to protect existing capital investments and that the adoption rate is slower than is socially optimal. A monopoly supplier, on the other hand, adopts at a rate faster than is socially optimal. This result is usually also the case when there is no market power. Finally, we show that the monopoly supplier accelerates adoptions faster than in the case where there is no market power, but retards later adoptions. Market power thus makes a difference in diffusion rates, and on which side of the market that power lies makes a considerable difference.
Stereoselective disposition of carprofen, flunoxaprofen, and naproxen in rats.

The stereoselective dispositions of carprofen, flunoxaprofen, and naproxen were studied in rats after i.v. administration of racemate (11 mumol/kg) or enantiomer (5.5 mumol/kg). The total clearances of the (R)-enantiomers of carprofen and flunoxaprofen were significantly greater than those of the (S)-enantiomers. The clearance of (S)-naproxen was similar to the value for (R)-naproxen. There were no marked differences in steady-state volume of distribution between (R)- and (S)-enantiomers for carprofen, flunoxaprofen, or naproxen. The (R)- to (S)-enantiomer inversion ratio for flunoxaprofen in rats was 0.54. The ratios for naproxen and carprofen were 0.02 and 0.003, respectively. Biliary excretion of (R)-carprofen and of its glucuronide were higher than those of the (S)-enantiomer and its glucuronide. In contrast, biliary excretion of the (S)-enantiomers of flunoxaprofen, naproxen, and of their glucuronides were greater than those of their antipodes. Insignificant amounts of the parent enantiomers and of the glucuronides of these three drugs were excreted in urine. These results indicate that there is a wide variation in the extent of inversion at a chiral center for these three 2-arylpropionates and in the stereoselective disposition of their acyl glucuronides.
Bootstrapping and the financial condition of small firms

Purpose – The purpose of this paper is to investigate relationships between financial condition and the use of bootstrapping in small firms.Design/methodology/research – A total of 901 manufacturing firms were selected from a comprehensive financial database containing income statement and balance sheet records. Surveys were sent to each of these firms and 186 firms returned usable surveys. Survey responses on bootstrapping techniques were compared with financial data for these 186 firms. Both the initial financial status and the financial status of these firms two years later were analyzed.Findings – The results indicate that highly levered, illiquid, and underperforming firms were more likely to use certain bootstrapping methods than other firms, and that the methods they used may have been detrimental to future firm performance.Research limitations/implications – The findings support a resource dependence model and raise questions as to why financially constrained firms chose to use particular bootstra.
The Association Between Operating Cash Flows and Dividend Changes: An Empirical Investigation

The Association between earnings and dividend changes has been established since Lintner's (1956) pioneering work. Subsequent research attempted to establish an association between operating cash flows and dividend changes, given earnings, without success (Simons, 1994). Recently, there has been increased attention in cash flow reporting. Regulatory bodies worldwide have stressed the significance of cash flow information in capital markets. Research on the association between cash flows and dividends has been limited, yielding inconclusive results. The purpose of this study is to re-evaluate and extend prior studies by examining the incremental ability of cash flows to explain dividend changes, given earnings. We argue that a positive relationship between cash flows and dividend changes should exist due to liquidity and accruals management considerations. The empirical evidence of this study supports that the dividend changes-cash flow relationship is significantly positive (a) when operating cash flows are low compared to earnings, and (b) when firm growth is moderate. Copyright Blackwell Publishers Ltd 1998.
Sperm storage in the female reproductive tract of Scotophilus heathii: Role of androgen

The aim of the present study was to investigate the mechanism of androgen‐mediated, prolonged sperm‐storage in the female reproductive tract of the bat, Scotophilus heathii. The bat treated in vivo with flutamide, an androgen antagonist, showed loss of spermatozoa at the storage site, utero‐tubal junction. Immunocytochemistry and Western blot analysis revealed the presence of increased expression of Bcl2 in the epithelial cell lining of the utero‐tubal junction during the period of sperm‐storage. Treatment with testosterone in vitro caused a significant dose‐dependent increase in expression of the survival factor Bcl2, whereas treatment with flutamide together with testosterone caused a significant decline in Bcl2 in the utero‐tubal junction of S. heathii. Together with the expression of Bcl2, the utero‐tubal junction also expresses the death signal, caspase3. Expression of caspase3 decreased during January, but increased in February during the late stage of sperm storage. Androgen stimulated Bcl2 synthesis in the utero‐tubal junction via the non‐genomic MAP kinase signaling pathway. In conclusion, this study suggests that androgen promotes sperm storage in S. heathii by stimulating the survival factor Bcl2 in the utero‐tubal junction. It is further hypothesized that a balance between the survival factor, Bcl2, and the death signal, caspase3, determines the duration of sperm storage in S. heathii. Mol. Reprod. Dev. 78:477–487, 2011. © 2011 Wiley‐Liss, Inc.
A Reexamination of the Effec t of Rapid Military Spending on Infl ation

The hypothesis that rapid defense buildups contribute to inflation recently has been rejected by Donald F. Vitaliano. In this paper, it is argued that this result is misleading, given that it is obtained under the implausible assumption of constancy of the expected real rate of interest. The hypothesis is reexamined using a well-known measure of the expected inflation rate, and it is found that growth of defense spending has a statistically significant positive effect on the rate of price inflation.
Long-Term Momentum Hypothesis: Contrarian and Momentum Strategies

This paper suggests a new model that attempts to explain long-term reversal and short-term momentum in stock prices by the interaction of momentum traders and passive rational investors. The new model is distinct from other overreaction models in that price momentum becomes stronger as a trend in stock price changes continues. The simulation results for the model confirm long-term reversal and short-term momentum and propose three new predictions that distinguish the model from other hypotheses. These predictions are synthetically described as the long-term momentum hypothesis. The primary empirical results provided by this study are consistent with the long-term momentum hypothesis.
Did expected returns fall? Evidence from UK size portfolios

Ex post equity returns were extremely high during the latter part of the twentieth century and in particular during the 1990s. Many observers suggest ex post returns have been higher than expected returns. This article suggests, in the case of the UK, that the largest firms primarily cause the appearance of a shift in expected returns during the 1990s. The article presents some novel evidence consistent with an earlier shift in expected returns for small- and medium-sized firms in the early 1980s. However, evidence from structural break tests on valuation ratios is consistent with either moderate changes in long-term expected fundamental growth or long-term expected returns; it is difficult to distinguish statistically between these two competing explanations.
Post‐transcriptional gene regulation by gamma herpesviruses

The Epstein–Barr virus (EBV) SM protein is a member of a highly conserved family of proteins present in most mammalian herpes viruses. There is a significant amount of functional and sequence divergence among the homologs encoded by the human herpes viruses, including differences in mechanism of action and varying effects on splicing and transcription. Nevertheless, in those cases where it has been studied, these proteins are essential for lytic replication of the virus. The mechanism by which SM regulates gene expression operates at the level of mRNA stability, processing, and export. SM enhances expression of EBV lytic genes and has both positive and negative effects on cellular gene expression. In addition to enhancing accumulation of EBV gene mRNAs, SM has important effects on cellular mRNAs, altering the host cell gene expression profile to facilitate viral replication. This article describes the current state of knowledge regarding the role of EBV SM in cellular and viral gene regulation and summarizes some of the similarities and differences with the ORF57 homolog from Kaposi's sarcoma‐associated herpes virus (KSHV/HHV8). © 2005 Wiley‐Liss, Inc.
Creating quality-driven performance appraisal systems

Executive Overview The total quality literature, although inspirational in its appeal, currently consists of multiple schools of thought with varying priorities. The research on performance appraisal, although extensive in scope, has been preoccupied with measurement accuracy. What then is a manager in a quality-driven firm to do? These limitations represent a challenge—to create a performance appraisal system that is congruent with quality precepts.
Deep carious lesions and other consequences of caries among 18-year-olds at Public Dental Health Service in Northern Norway: A cross-sectional age cohort study

Abstract Objectives. To document deep carious lesions and other consequences of caries (DCL-CC) in molars of 18-year olds leaving the free-of-charge Public Dental Health Service (PDHS). To explore the association between background factors and DCL-CC. Materials and methods. The final study sample (n = 1876) comprised 95% of individuals born in 1993 and registered in the PDHS in Troms County, Northern Norway. The most recent digital bitewing radiographs of each subject were examined for DCL-CC (deep untreated carious lesions, deep restorations, root canal obturations or extractions due to caries). Inter- and intra-observer kappa scores were 0.62 and 0.87, respectively. Information on background factors (gender, clinic location, history of medical problems, bitewing examination interval, DMFT score and planned recalls) were retrieved from dental records. Results. About one-quarter of subjects (488) had at least one molar with DCL-CC. There were 848 molars in total with DCL-CC; the majority were deep restorations (70%), but 4% were deep untreated carious lesions. More than a quarter of DCL-CC were either root canal obturations (14%) or extractions (12%). Multivariable logistic regression analyses showed that a 1-unit increase in DMFT score was associated with deep untreated carious lesions and extractions due to caries. There was no association between urban/rural clinic location, which indicated socio-economic status, and either DMFT score or DCL-CC. Conclusions. Despite the existence of a free-of-charge dental service, more than one-quarter of the subjects in the present study had at least one molar with DCL-CC.
Who was in the driving seat in Europe during the nineties, International financial markets or the BUBA?

The purpose of this paper is to reexamine empirically the relationship between long-term interest rates in well integrated financial markets. The analysis focuses on long-term interest rates in the US and Germany and has been carried out within the framework of a five dimensional VAR for the simultaneous determination of short- and long-term interest rates in the US and Germany and the rate of exchange rate depreciation. The results strongly support the existence of a long-run relationship between the long-term German and the longterm US interest rate and imply a full pass-through of changes in the long-term US rate into the corresponding German rate. The analysis also substantiates that the direction of causality goes from the longterm US to the long-term German interest rate. With regard to the possibility of controlling the long end of the market on the part of the Bundesbank, the paper apparently takes on a rather pessimistic view, as there is nothing to indicate a long-run relationship between shortand long-term German interest rates. However, the strong influence that short-term German interest rates exhibit on German long-term interest rates in the very short run according to the structural model of this paper, might be taken to indicate that the opposite is the case, as e ects originating from expectations of future short-term interest rates might totally neutralize an unequivocally positive short-run portfolio e ect in the long run. If this is the case, there is nothing strange to the fact that one is unable to identify a long-run relationship between short- and long-term German interest rates. On the contrary, it is exactly what to be expected if the monetary transmission mechanism works appropriately.
Extraction and Properties of Apple Allergens

It is shown that apple allergens are probably proteins and that they can be extracted in an active form only if reactions with phenolic compounds present in apple are inhibited. This is accomplished by incorporating chelators and solid polyvinylpolypyrrolidone in the extraction medium. Phenol, commonly used as a preservative, should not be added. With the RAST, serum‐IgE antibodies capable of reacting with apple allergens were detected in 90% of patients with clinical apple allergy, in 44% of patients with clinical birch‐pollen allergy and in 5—10% of patients with other atopic allergies. RAST inhibition indicated that apple and birch‐pollen allergens cross‐react.
Do fair value adjustments influence dividend policy?

We examine the impact of positive fair value adjustments on dividend policy. If fair value adjustments are transitory in nature and managers are able to assess their implications for future earnings, fair value adjustments in net income is expected to have no distribution consequences. However, positive fair value adjustments may lead to higher dividends when management incorrectly assesses their persistence. This can have a procyclical impact because higher dividends increase leverage, and thus risk. We use a Russian setting that mandates fair value accounting for financial instruments and requires disclosure of unrealised fair value adjustments in income. We find no empirical support for the concern that dividends increase in response to positive fair value adjustments. Rather, there is a negative relationship between positive fair value adjustments and dividend changes, which holds after controlling for dividend policy determinants and any endogenous nature of the revaluation decision. We discuss several possible explanations for this finding.