Miracle-dz/UniFAR-FTUs huggingface dataset:
The Valuation Consequence of Accounting Changes: A Multi-Year Examination

We examine the valuation impact of changes in the accounting procedures and estimates underlying reported financial data in the year of the change as well as in the postchange years. Since most accounting changes have undisclosed effect on financial variables in subsequent years in addition to the earnings impact disclosed in the year of the change, an accounting change might be motivated by its long-term valuation effect, even if investors are cognizant of the initial earnings impact and fully account for it in the year of the change. This conjecture is empirically examined for the first time in this study. Our tests are based on a cross-sectional examination of the valuation impact of the earnings effect of accounting changes in the year of the change and a longitudinal examination of the behavior of returns in the postchange years. We also provide descriptive evidence indicating that earnings management is a managerial motive for changing accounting techniques. Cross-sectionally, for income-increasing accounting changes, our results show that investors' valuations seem to reflect a concern for the reduced quality of earnings, as reflected by smaller earnings response coefficients and R2 s. However, the decline is not attributable specifically to the earnings effect of the accounting change. Similarly, the earnings effect of income-decreasing changes does not have valuation impact in the year of the accounting change. Although investors appear to largely ignore the accounting changes in the year they are made, our longitudinal test does show that firms undertaking accounting changes experience different long-term returns relative to other firms in the postchange period. However, income-increasing accounting changes are associated with negative valuation changes in the postchange period, rather than the positive impact expected from the conjecture stated above. Over the five years following the year of the accounting change, abnormal returns of income-decreasing firms exceed those of income-increasing firms substantially, with the latter firms experiencing large negative returns over the period. We demonstrate a trading rule that, ex post, exploits the information contained in the accounting changes to yield large abnormal stock returns. The results suggest that income-increasing accounting changes are perhaps the first visible sign indicating other hidden, fundamental problems that get revealed in subsequent years.
Induced Sensitization of Normal Laboratory Animals to Brucella abortus Endotoxin

A Boivin preparation of Brucella abortus, unlike common enterobacterial endotoxins, failed to depress water intake or increase numbers of hemolysin-producing spleen cells in mice, or to cause delayed inflammatory reactions in rabbit skin. Reactivity to the B. abortus endotoxin was found only in animals which were previously given the endotoxin with, but not necessarily in, complete Freund's adjuvant. Previous treatment with the endotoxin in saline or with only the adjuvant was ineffective. Sensitization appeared within 10 days and waned after 5 weeks. Passive sensitization was obtained with sensitized donor spleen cells but not with serum. Serum antibody titers did not correlate with the appearance and disappearance of sensitization.
Ca2+-dependent and Caspase-3–independent Apoptosis Caused by Damage in Golgi Apparatus due to 2,4,5,7-Tetrabromorhodamine 123 Bromide–induced Photodynamic Effects¶

Abstract To clarify the role of the Golgi apparatus in photodynamic therapy–induced apoptosis, its signaling pathway was studied after photodynamic treatment of human cervix carcinoma cell line HeLa, in which a photosensitizer, 2,4,5,7-tetrabromorhodamine 123 bromide (TBR), was incorporated into the Golgi apparatus. Laser scanning microscopic analysis of TBR-loaded HeLa cells confirmed that TBR was exclusively located in the Golgi apparatus. HeLa cells incubated with TBR for 1 h were then exposed to visible light using an Xe lamp. Light of wavelength below 670 nm was eliminated with a filter. Morphological observation of nuclei stained with Hoechst 33342 revealed that apoptosis of cells was induced by exposure to light. Electron spin resonance spectrometry showed that light-exposed TBR produced both singlet oxygen (1O2) and superoxide anion (O2–). Apoptosis induction by TBR was inhibited by pyrrolidine dithiocarbamate, an O2– scavenger, but not by NaN3, a quencher of 1O2. Furthermore, TBR-induced apoptosis was inhibited by aurintricarboxylic acid and ZnCl2, which are known as inhibitors of deoxyribonuclease (DNase) γ, and (acetoxymethyl)-1,2-bis(o-aminophenoxy)ethane-N,N,N′,N′-tetraacetic acid, a chelator of Ca2+, but not by acetyl Asp-Glu-Val-Asp-aldehyde, an inhibitor of caspase-3. These results suggested that O2– was responsible for TBR-induced apoptosis, and Ca2+-dependent and caspase-3–independent nuclease such as DNase γ played an important role in apoptotic signaling triggered by Golgi dysfunction.
The Impact of a Simple, Low-cost Oral Care Protocol on Ventilator-associated Pneumonia Rates in a Surgical Intensive Care Unit

Objective: The purpose of this study was to determine the effects of a simple low-cost oral care protocol on ventilator-associated pneumonia rates in a surgical intensive care unit. Design: Preintervention and postintervention observational study. Setting: Twenty-four bed surgical/trauma/burn intensive care units in an urban university hospital. Patients: All mechanically ventilated patients that were admitted to the intensive care unit between June 1, 2004 and May 31, 2005. Interventions: An oral care protocol to assist in prevention of bacterial growth of plaque by cleaning the patients' teeth with sodium monoflurophosphate 0.7% paste and brush, rinsing with tap water, and subsequent application of a 0.12% chlorhexidine gluconate chemical solution done twice daily at 12-hour intervals. Measurements and main results: During the preintervention period from June 1, 2003 to May 31, 2004, there were 24 infections in 4606 ventilator days (rate = 5.2 infections per 1000 ventilator days). After the institution of the oral care protocol, there were 10 infections in 4158 ventilator days, resulting in a lower rate of 2.4 infections per 1000 ventilator days. This 46% reduction in ventilator-associated pneumonia was statistically significant (P = .04). Staff compliance with the oral care protocol during the 12-month period was also monitored biweekly and averaged 81%. The total cost of the oral care protocol was US$2187.49. There were 14 fewer cases of ventilator-associated pneumonia, which led to a decrease in cost of US$140 000 to US$560 000 based on the estimated cost per ventilator-associated pneumonia infection of US$10 000 to US$40 000. There was an overall reduction in ventilator-associated pneumonia without a change to the gram-negative or gram-positive microorganism profile. Conclusions: The implementation of a simple, low-cost oral care protocol in the surgical intensive care unit led to a significantly decreased risk of acquiring ventilator-associated pneumonia.
Tale of Two Ginis in the United States, 1921-2012

Following a methodology proposed by Jantzen and Volpert (2012), we use IRS Adjusted Gross Income (AGI) data for the United States (1921-2012) to estimate two Gini-like indices representing inequality at the bottom and the top of the income distribution. We also calculate the overall Gini index as a function of the parameters underlying the two indices. Our findings can be summarized as follows. First, we find that the increase in the Gini index from the mid 1940s to the late 1970s seems to be mostly explained by an increase in inequality at the bottom of the income distribution, which more than offsets the decrease in inequality at the top. The implication is that middle incomes gained relative to high incomes, but especially relative to low incomes. Conversely, it is rising inequality at the top that appears to drive the rise in the Gini index since 1981. Second, inequality at the top of the income distribution follows a U-shaped trajectory over time, similar to the pattern of the share of top incomes documented by Piketty and Saez (2003, 2006) and Atkinson, Piketty, and Saez (2011). Third, the welfare effects of the different forces behind an increasing Gini index can be evaluated in light of the Lorenz-dominance criterion proposed by Atkinson (1970): both top-driven and bottom-driven increases in the index appear not to imply strict Lorenz dominance by previous income distributions, and therefore are not associated with lower welfare in an absolute sense. In a relative sense, however, once average growth rates over the two periods are taken into account, the top-driven increase in inequality since 1981 appears to have been welfare reducing.
Diesel Cars and Environmental Policy

In this paper, I assess the costs of environmental taxation of car ownership and usage in Denmark. Using high quality Danish register data covering 1997–2006, I estimate a discrete-continuous model of car choice and usage allowing for endogenous selection of cars based on expected usage. I validate the model out of sample using a major Danish reform in 2007 which prompted a substantial shift in the characteristics of purchased cars — in particular the diesel market share — unique to the Danish setting compared to the rest of Europe. Through counterfactual simulations, I find that both Danish reforms in 1997 and 2007 were cost-ineffective at reducing CO2 emissions. Moreover, the diesel market share is highly affected by taxation but environmental goals can be reached both with and without a large diesel share in the fleet.
Repression of the human immunodeficiency virus type‐1 long terminal repeat by the c‐Myc oncoprotein

The effect of trans‐acting factors on cis‐acting DNA elements on the HIV‐1 promoter are the principal determinant regulating transcriptional activation and repression. Host factors that limit viral replication can contribute to the emergence and maintenance of proviral reservoirs. The current paradigm is that this sub‐population of latently infected cells confers a biological advantage to the virus by facilitating evasion of immunologic responses and therapeutic strategies resulting in life‐long and persistent infection. In this report, we show that ectopic expression of the nuclear phosphoprotein, c‐Myc can inhibit HIV‐1 gene expression and virus production in CD4+ T‐lymphocytes. The effect exerted does not appear to involve other known functions of c‐Myc such as proliferation, or apoptosis. The mechanism does implicate c‐Myc in a direct role. We have found evidence that c‐Myc can specifically recognize the HIV‐1 initiator element surrounding the start site of transcription and linker scanning mutagenesis experiments confirmed a loss of c‐Myc‐mediated repression in the absence of this region. Moreover, we show that c‐Myc can interact with the initiator binding proteins YY‐1 and LBP‐1 and can cooperate with these factors to synergistically repress HIV‐1 LTR transcription. Taken together, these results indicate that c‐Myc is an important regulator of HIV‐1 transcription that potentially contributes to the latent proviral state. © 2004 Wiley‐Liss, Inc.
Adaptation and Inequality: Children of Immigrants in Canadian Schools

Children of immigrant parents have comparable test scores in reading and mathematics to those of the children of the Canadian born. Children of immigrant parents whose mother tongue is neither English nor French have low performance in vocabulary before age six but performance in mathematics and reading that is comparable to that of the children of Canadian-born parents by age fourteen. The 10th percentile of the vocabulary distribution is lower for children of immigrant parents whose mother tongue is neither English nor French than for children of Canadian-born parents. However, this difference is not present in reading and mathematics test scores.
Development constraints, market processes and the supply of industrial land

Summary Industrial land markets are characterized by substantial imperfections, to the extent that their very existence, in strict economic terms, must be called into question. Theories of industrial location need to take greater account of the ways in which market processes limit the locational choices presented to manufacturers. In particular, the comparative impact of development constraints in different types of area may well contribute to urban‐rural shifts in manufacturing employment. Development constraints are, however, rarely absolute. Some users, agencies and developers are clearly more successful than others in taking advantage of market processes. Within this context, the paper sets out an agenda for future research into the way in which development constraints and market processes restrict the supply of industrial land.
The Determinants of Employee Responses to Total Quality Management: Six Case Studies

Total quality management has been a central element in many efforts directed towards organizational change. Theories tend to fall into two extreme camps, which hold either that TQM transforms attitudes and behaviour or that it is nothing but a means to intensify work and tighten managerial control. More recent analysis is more balanced, but lacks quantitative data on employee responses and also neglects the varying contexts in which TQM exists. This study addresses these issues by taking six named organizations from different sectors of the UK economy and by blending qualitative interviewing with a survey of 280 employees. Findings show a wide acceptance of quality principles but (in contrast to the transformation view) little evidence of substantial empowerment of workers. Compared with the intensification view, growing work effort was not widely disliked, and, crucially, favourable views of quality were strongest, not weakest, where the monitoring of workers was most intense. Multivariate analysis supports the 'disciplined worker' thesis, that quality is most accepted where there is a controlled work environment. Case material indicates that the conditions for success in quality programmes are notably high job security and a co-operative relationship with trade unions.
Association of Activity Changes in the Primary Sensory Cortex With Successful Motor Rehabilitation of the Hand Following Stroke

Background. Previous studies demonstrated a posterior shift of activation toward the primary sensory cortex (S1) following stroke; however, any relationship between this posterior shift and clinical outcome measures for the affected hand function were unclear. Objective. The authors investigated the possible role of S1 in motor recovery. Methods. Assuming that previous studies examined inhomogeneous groups of patients, the authors selected participants with chronic stroke who had moderate hand paresis, normal sensory examination and somatosensory-evoked potentials, and no lesion within the S1, thalamus, or brain stem. Constraint-induced movement therapy (CIMT) was used to train the impaired hand. To relate fMRI (functional MRI) activation changes from baseline to post-CIMT, a correlation analysis was performed with changes of the Wolf Motor Function Test (WMFT) as a test for the hand function. Results. A close relationship was found between increases in hand function and peak changes in activation within the ipsilesional S1. With a better outcome, greater increases in activation within the S1 were evident (P < .03; r = 0.73). Conclusion. In selected patients, the sensory network influences training-induced motor gains. This predictive knowledge of plasticity when applying CIMT may suggest strategies to enhance the effect of therapy, such as the addition of electrical stimulation to enhance S1 excitability.
Stability analysis of buck converter based on periodic switched affine systems

According to the system characteristics of closed-loop dc-dc converter, a periodic switched affine systems model of the power regulator is established. Based on switched systems theories, an corresponding augmented periodic switched autonomous systems model is presented by augmentations of the state variables. Thus, the relatively simple transfer matrix multipliers of the augmented systems are used to predict the onset of unstable behaviors. Meanwhile, the stability property is deduced and the steady boundary is obtained by the presented theorem. The stability of buck converter with constant on time One-Cycle Control strategy is analyzed. The results show that the pulse frequency modulation buck converter operating under the continuous-conduction-mode is stable. The system model proposed in this paper is an accurate model of the dc-dc converter. The resulting stability criterion is simple and intuitive, which can be applied to other periodic switched affine systems, including PFM or PWM power converters.
The Impact of Innovations on Growth and Stagnation Regions in Poland

ABSTRACT The goal of this article is to identify the impact of innovations on growth and stagnation regions in Poland. The research procedure consists of two stages. At stage one, Polish administrative units (voivodeships) were arranged on a scale of economically robust and weak regions following data clustering, indicators organized in line with the following aspects of social and economic growth: (1) population and settlement, (2) the economy structure and the labour market, (3) the technical infrastructure and spatial accessibility and (4) the financial situation and level of affluence. Stage two includes identification of the relation between the regional diversification and the distribution of growth and stagnation regions in Poland which is based on canonical correlation.
Auditors’ Organizational Form, Legal Liability and Reporting Conservatism: Evidence from China

This study uses a unique institutional setting in China to investigate empirically the association between the organizational form of CPA firms (unlimited liability versus limited liability) and the reporting conservatism of auditors. Based on a sample of 5,007 audits of Chinese listed companies from the period of 2000 to 2004, we find that auditors in unlimited liability partnership firms are more likely to issue modified audit opinions than are auditors in limited liability CPA firms. This auditor conservatism stems from distressed firms with going-concern opinions, and we find no statistical evidence that partnerships give more modified opinions for non-distressed firms. In addition, auditors are less likely to issue modified reports after they incorporated the firm in the limited liability form. These analyses support our hypothesis that a limited liability regime induces lower auditor reporting conservatism. Our study contributes to the broader debate on liability reform in the auditing profession.
An Empirical Investigation of the Interface Between Internal and External Auditors

Professional standards place specific responsibilities on auditors for the discovery of material mis-statements in reports of corporate financial performance. Certain factors have been shown to increase the likelihood of fraudulent financial reporting. One warning sign is the potentially pervasive effect of a weak internal control environment consistent with a weak internal audit group. This study investigates the impact of internal audit department quality differences on auditors ‘willingness to place reliance on the work performed by internal auditors. The study also gives consideration to auditors’ recent experiences with material errors and irregularities and examines the influence of two previously untested individual auditor differences on audit judgment decisions: (1) conflict management style and (2) perception of internal/external auditor communication barriers. The results indicate that auditors attend to internal audit department quality differences and that individual auditor differences exhibit significant influence over auditor judgments. Implications for audit practice are considered and directions for future research are suggested.
Some Empirical Evidence from Publicly Quoted UK Companies on the Relationship Between the Pricing of Audit and Non-audit Services

Abstract Using data obtained from a sample of 314 UK quoted companies (excluding financial sector companies), this paper examines three aspects of the relationship between fees for audit and non-audit services: (a) the extent and nature of the provision of non-audit services to audit clients; (b) whether the positive association between the level of audit fees and non-audit services fees found in the majority of non-UK studies holds in the UK; and (c) whether it is possible to throw further light on the nature of the relationship between audit fees and non-audit services fees by exploring the interaction between non-audit services and other factors that appear to affect audit pricing. Our results suggest that: (i) income earned by audit firms from non-audit work for quoted clients averaged nearly 90% of the levels of audit fee earnings in 1992/93 (and more than a quarter of clients paid more for non-audit services than for the audit); (ii) the extent of voluntary disclosure of the breakdown of non-audit s.
Mentoring and coaching for teachers in the further education and skills sector in England

Through the research we sought to: 1: learn more about the reach, strengths and limitations of institution-based teacher mentoring in FE and of other forms of support for FE teachers’ PLD, with a particular but not exclusive focus on teachers of STEM subjects. 2: explore the potential need for and appropriateness of a programme of external mentor support for FE teachers in general and STEM teachers in particular. 3: identify factors which may encourage or discourage FE teachers of STEM and other subjects from accessing and taking full advantage of external and/or institution-based mentoring, and identify other barriers to effective mentoring and potential means of overcoming these. 4: make recommendations with respect to strengthening institution-based mentoring and/or introducing a programme of external mentor support for FE teachers.
Post-warmup strategies to maintain body temperature and physical performance in professional rugby union players

Abstract We compared the effects of using passive-heat maintenance, explosive activity or a combination of both strategies during the post-warmup recovery time on physical performance. After a standardised warmup, 16 professional rugby union players, in a randomised design, completed a counter-movement jump (peak power output) before resting for 20 min and wearing normal-training attire (CON), wearing a passive heat maintenance (PHM) jacket, wearing normal attire and performing 3 × 5 CMJ (with a 20% body mass load) after 12 min of recovery (neuromuscular function, NMF), or combining PHM and NMF (COMB). After 20 min, participants completed further counter-movement jump and a repeated sprint protocol. Core temperature (Tcore) was measured at baseline, post-warmup and post-20 min. After 20 min of recovery, Tcore was significantly lower under CON and NMF, when compared with both PHM and COMB (P < 0.05); PHM and COMB were similar. Peak power output had declined from post-warmup under all conditions (P < 0.001); however, the drop was less in COMB versus all other conditions (P < 0.05). Repeated sprint performance was significantly better under COMB when compared to all other conditions. Combining PHM with NMF priming attenuates the post-warmup decline in Tcore and can positively influence physical performance in professional rugby union players.