Miracle-dz/UniFAR-FTUs huggingface dataset:
The Role of Economic, Fiscal, and Financial Shocks in the Evolution of Public Sector Pension Funding

Many studies have documented the pervasive underfunding of public sector pension plans in the United States in recent years. The deterioration of the funded status of public pension plans coincided with severe fiscal crises that state and local governments experienced in the 2000s. This development has led to a suspicion that state and local governments have decreased employer pension contributions as a backdoor means of running fiscal deficits. In this paper, the authors investigate the extent to which this phenomenon has occurred. They estimate panel data regressions using the Boston College Center for Retirement Research's Public Plans Database, which provides data for 2001 through 2010. The authors find that contrary to popular belief, plan sponsors do not reduce their contributions in response to negative fiscal or economic shocks. In contrast, plan sponsors' contributions to their pension plans increase in response to growth in their unfunded liabilities. The authors document that the public pension underfunding crisis during the 2000s developed largely as a consequence of portfolio returns that fell short of expectations. Public pension plans' assets portfolios have a relatively high share of equities and other risky assets, leaving the plans' funded status vulnerable to asset price fluctuations. Although plan sponsors increased their contributions in response to the growth of unfunded liabilities, they did not do so by enough to fully counteract the effect of the subpar portfolio returns. This finding holds across the spectrum of plans ranked in terms of funded status in 2010.
Use of stable isotopes to identify dietary differences across subpopulations and sex for a free-ranging generalist herbivore†

Carbon and nitrogen isotopes in tissues can be used to understand plants consumed by various taxa, but can they provide additional information about consumers? Values of δ13C and δ15N were assessed from tissue of free-ranging elk (Cervus elaphus) occupying disparate habitats of mixed prairie-oak savannah that contained C3 agricultural crops in a C4-dominated landscape and in key plants consumed by elk. Muscle and hoof samples were collected from female and male elk in two subpopulations (forested land and grassland) from private land and one subpopulation from the Wichita Mountains Wildlife Refuge (refuge) in 2001–2006. Previous research identified differences between mean muscle δ13C and δ15N and mean hoof δ13C and δ15N indicating that isotopes differed between tissues of varying metabolic activity. Mean δ13C in hoof of elk on forested land and grassland were lower than hoof δ13C from elk in the refuge indicating greater long-term consumption of C3 plants by elk on forested land and grassland subpopulations. The δ15N in hoof was greater for elk outside the refuge than that for elk in the refuge. Interaction of sex and subpopulation only occurred for hoof δ15N suggesting that factors such as tissue type, sex, and habitat need to be considered to understand free-ranging ecology of generalist herbivores using stable isotopes. Availability of C3 agricultural crops high in percent nitrogen on a nearly annual basis in a C4-dominated landscape was likely driving differences in tissue δ13C and δ15N among subpopulations of free-ranging elk. An increase in tissue δ15N resulted from an increase in the consumption of higher δ15N in forage for sexes and subpopulations of a free-ranging ungulate in North America but δ15N should be further evaluated as an index of nutrition for subpopulations of generalist herbivores.
Plastic endoprostheses versus metal stents in the palliative treatment of malignant hilar biliary obstruction. A prospective and randomized trial.

This prospective and randomized trial sought to compare large-bore plastic endoprostheses (14 French) and self-expanding metal stents (24 French) in the palliative treatment of obstructive jaundice due to biliary hilar malignancies. Twenty patients with Type II-IV (Bismuth classification) hilar obstruction were randomized to treatment with either plastic or metal stents. Both treatment groups were well matched with regard to all assessed clinical criteria before stenting. Stent placement was uniformly successful in the metal group and in 88.9% of the plastic group. Early stent failure (< 30 days) occurred in two patients of the plastic stent group. Longterm (> 30 days), stent failure was observed in 50% of the plastic group and 18.2% of the metal stent group. All differences were not statistically significant. The number of re-interventions required to manage stent-related problems proved to be significantly higher in the plastic group (2.4 +/- 2.6) compared to the metal group (0.4 +/- 0.5). Hospitalization for treatment of stent complications was also significantly higher in the plastic treatment group. The costs calculated for stents and hospital stay for required re-interventions were therefore higher in the plastic stent group. In conclusion, metal stent insertion for palliation of hilar malignancies does not only offer higher success rates and higher patency rates compared to plastic stent insertion, but is also cost-effective since patients require fewer re-interventions.
High-definition vs. standard-definition endoscopy with indigo carmine for the in vivo diagnosis of colonic polyps

Background There is growing evidence that indigo carmine chromoendoscopy is effective for the in vivo diagnosis of colonic polyps. However, the impact of colonoscope resolution on diagnostic accuracy has not been investigated. Objective We aimed to compare the effectiveness of in vivo diagnosis of small colonic polyps using indigo carmine dye spray with standard-definition and high-definition colonoscopes. Methods Procedures were performed using Fujinon colonoscopes and EPX 4400 processor. Fujinon standard-definition (SD) and high-definition (HD) colonoscopes were used, with the endoscopist blinded to colonoscope definition. Polyps <10 mm were assessed using 0.2% indigo carmine dye spray, with the predicted diagnosis recorded. In each case the kind of colonoscope (SD or HD) was recorded. Polyps were removed and sent for histological analysis, with the pathologist blinded to the diagnosis made by the endoscopist. The predicted diagnosis was compared with the true histology to calculate the accuracy, sensitivity and specificity of in vivo assessment using either SD or HD scopes. Results In total 237 polyps <10 mm in size were examined. There was no statistically significant difference for any of the measured parameters between SD and HD assessments, with an accuracy, sensitivity and specificity of 89%, 91% and 87% with SD colonoscopes and 92%, 96% and 84% with HD colonoscopes. Conclusions The accuracy of in vivo assessment of small colonic polyps with indigo carmine dye spray is excellent with standard-definition colonoscopes and is not improved with high-definition colonoscopes.
Preservation of the fistula for reconstruction of the anal canal and the anus in atresia ani and rectovestibular fistula in 2 dogs.

OBJECTIVE To report a technique for correction of atresia ani and rectovestibular fistula with fistula preservation, and outcome in 2 dogs. STUDY DESIGN Case report. ANIMALS Two intact female puppies. METHODS The fistula was approached by episiotomy. A vertical median perineal incision was made starting dorsal to the anal region and extended to surround the fistula. The rectum and vagina were separated, and the end of the fistula was sutured to the skin. RESULTS Early postoperative complications included constipation, fecal incontinence, and perineal soiling, but long-term outcome was good in both dogs. CONCLUSION With careful dissection, the fistula and internal anal sphincter can be preserved and used in the surgical reconstruction of the anal canal and anus. CLINICAL RELEVANCE Preservation of the fistula may provide an internal sphincter that contributes to a better functional result during correction of atresia ani. A surgical approach that combines episiotomy and perineal incision for separation of the vagina and rectum, and preserves the fistula may decrease the risk of dehiscence.
Why do experienced hedge fund managers have lower returns

Abstract Several theories of reputation suggest that managers’ career concerns affect their decisions. We investigate these theories by studying the behavior of hedge fund managers over their careers. In contrast with mutual fund managers who incur more risk over time, hedge fund managers take on less risk over time. This finding is consistent with certain industry characteristics which imply that experienced managers have “more to lose” in personal wealth, current income, and reputation should their funds fail. Most important, the propensity of experienced managers to reduce risk explains their underperformance. These results have implications for fund selection and incentive contract design. * Purdue University, Krannert Graduate School of Management, West Lafayette, IN 47907. E-mail: nboyson@mgmt.purdue. edu. Phone: (765) 496-7877. This paper is a revised version of an earlier paper entitled, “How are hedge fund manager characteristics related to returns, risk, and survival? ” I would like to thank Vikas Agarwal, Richard Brealey, Stephen Brown, Steve Buser, Mike Cliff, Mike Cooper, Dave Denis, Diane Denis, Jean Helwege, David Hirshleifer, Kewei Hou, Andrew Karolyi, Bing Liang, Bernadette Minton, John McConnell, Narayan Naik, Karen Wruck, and Rene Stulz (my advisor), and seminar participants at The Ohio State University, Purdue University, and London Business School's Centre for Hedge Fund Research and Education. All remaining errors are my own.
Feature binding and attention in working memory: A resolution of previous contradictory findings

We aimed to resolve an apparent contradiction between previous experiments from different laboratories, using dual-task methodology to compare effects of a concurrent executive load on immediate recognition memory for colours or shapes of items or their colour–shape combinations. Results of two experiments confirmed previous evidence that an irrelevant attentional load interferes equally with memory for features and memory for feature bindings. Detailed analyses suggested that previous contradictory evidence arose from limitations in the way recognition memory was measured. The present findings are inconsistent with an earlier suggestion that feature binding takes place within a multimodal episodic buffer Baddeley, (2000) and support a subsequent account in which binding takes place automatically prior to information entering the episodic buffer Baddeley, Allen, & Hitch, (2011). Methodologically, the results suggest that different measures of recognition memory performance (A′, d′, corrected recognition) give a converging picture of main effects, but are less consistent in detecting interactions. We suggest that this limitation on the reliability of measuring recognition should be taken into account in future research so as to avoid problems of replication that turn out to be more apparent than real.
Hematological and Biochemical Performance of Poultry Following Zinc Oxide and Sodium Selenite Supplementation as Food Additives

The present work was performed to study the effect of zinc oxide and sodium selenite alone or in combination on the growth performance of poultry when added to the ration as feed additives. One hundred and sixty of 1-dold broiler chicken were used and divided equally into four groups each of 40 chicks as follow; basal diet supplemented group [1], zinc oxide (2 g /10 kg ration for 4 weeks) supplemented group [2], sodium selenite (15.4 mg / 10kg ration for 4 weeks) supplemented group [3] and combination group [4]. Each week from starting the experiment till the fourth week, blood samples and liver tissue were collected for assessment of selective hematological, biochemical and antioxidant enzymes activities of birds. The results achieved that zinc oxide and sodium selenite in combination had significant influence on broiler chicken antioxidant status, hematopoietic system responsibility and growth performance and did not induced hepatic and renal toxicity. In conclusion, zinc oxide and sodium selenite when used together with the presently used doses were powerful antioxidant nontoxic feed additives for poultry.
The financing problems of small and medium-sized manufacturing enterprises in Jordan

Jordan has experienced many economic difficulties since 1989 because of adverse factors affecting the neighbouring economies of the West Bank and Iraq, major destinations for Jordanian exports, including the SMEs investigated here. This has complicated the business plans of SMEs and made the evaluation of their financing needs more difficult. The remit of this study is confined to manufacturing SMEs, which are significant employers in Jordan. This study assesses the financial status of SMEs, and investigates the finance gaps in the manufacturing sector through evaluating the opinions of both the suppliers and the demanders of funds. The main causes of the finance gap are analysed and the types of finance used by SMEs in the manufacturing sector are examined. In addition, the study attempted to investigate other related issues such as: the effect of government intervention, loan guarantee schemes, foreign aid programmes, Islamic finance, and attitudes of SMEs' owners. The methodology of the study included a literature review, data collection, analysis of both available government and international statistics, and semi structured interviews with 10 SMEs' owner-managers in the manufacturing sector, banks' managers in all the operating banks in Jordan (24 banks) and 10 policy makers and international agencies. The main findings indicate the absence of a debt gap in Jordan. Rather the problem is an information gap, as the SMEs are often reluctant to provide information concerning their business activities and financial position. Furthermore, the study revealed that the SMEs prefer to use their own funds, notably internal sources of finance such as retained profits. The attitude of SMEs also explains the lack of demand for debt financing, as managers tend to regard debt finance as a last resort if their retained profits are inadequate. These are supplemented when necessary by short term loans from the banks, but there is a strong desire to avoid excessive indebtedness as the business risk have been exacerbated by the adverse external economic climate in recent years; this may help explain the reluctance of the Jordanian SMEs to take on excessive debt. Moreover, the findings showed that there is an equity gap regarding the availability of different types of equity finance for the manufacturing SMEs in Jordan. The interviews' analysis confirm that there are no mechanisms for providing equity funds for SMEs, but at the same time there is no demand at all for it. The main reason behind this is may also be the existence of an information gap in Jordan, which mainly arises from the SMEs side.
prepared for the Education for All Global Monitoring Report 2008 Education for All by 2015 : will we make it ? Aid effectiveness in Primary , Secondary and tertiary education

This paper investigates the impact of development aid on educational outcomes. Existing literature in this field provides some evidence for a positively significant relationship, but the impact appears to be far below what would be necessary to reach the EFA objectives and MDG 2. Empirical results for the education sector also suggest considerable differences in aid effectiveness depending on political governance. This paper goes beyond previous research by differentiating between aid to primary, secondary and tertiary education. Despite the more precise sectoral attribution, this approach does not show any stronger effect of aid.
Managerial turnover, fund family tournament and investors learning in the UK fund market

This research is constructed to provide a comprehensive analysis of key factors that influence fund performance, and the methods of evaluating such performance. Our examination is from both the managerial and the investor perspectives in the context of the UK fund industry. We begin by analysing the managerial response. We examine the effectiveness of the internal monitoring and control system in UK funds, focusing on the relation between top manager turnover and the performance of UK unit trusts and OEICs. We apply a series of methods, including performance evaluation based on the factor models, percentile ranking, and sample matching tests. Funds that have experienced replacement of top managers are examined for their performance in the pre and post-replacement periods. A variety of methods are applied to measure factors that affect the probability of replacement in the pre-replacement period. Bootstrapping simulations are implemented to further examine whether UK fund companies can distinguish between poorly skilled managers and unlucky ones. It is found that many fund companies are not captivated by the ‘lucky’ managers’ extreme performance and are willing to give ‘unlucky’ managers another chance. Moreover, underperforming managers are more likely to be replaced when fund inflows are declining than are outperforming managers. Managers' adjustment of portfolio compositions exerts mixed influences on the probability of replacement. Next, we apply tournament analysis to the UK fund market. We find supportive evidence of significant risk shifting in the family tournament; i.e. interim winning managers tend to increase their levels of risk exposure more than the losing managers do. Our results also show that the risk-adjusted returns of the winners outperform those of the losers following the risk taking. As such, risk altering can be regarded as an indication of managers’ superior ability. However, the tournament behaviour can still be a costly strategy for investors, since in this case winners would be seen as beating the losers in terms of the observed returns due to deterioration in the performance of their major portfolio holdings. Finally, the thesis further examines the cross-fund learning among investors. A linear hierarchical model is constructed to consider cross-learning of the funds within a fund family in performance evaluation. We apply a full Bayesian treatment of all factors of the pricing model and allow both the fund family and individual managers to have dependent prior information regarding the funds’ alphas. The simulation results suggest that returns from peer funds within the family significantly affect investors’ updating on fund alphas, since the posterior distribution on fund alphas exhibits a faster shrinkage than is reported in the previous literature. The model is also simulated with various prior beliefs on different factors of the pricing model, i.e. fund alphas, betas and factor loadings of each pricing benchmark, to better address the learning process.
Alternative medium for Clostridium perfringens sporulation

A medium containing 0.50 g of thiotone peptone, 0.30 g of soluble starch, 0.02 g of MgSO4 X 7H2O, 0.90 g of Na2HPO4 X 2H2O, 100.00 ml of distilled water, and optionally , 166 micrograms of dichloridric thiamine supported sporulation of 138 out of 141 Clostridium perfringens strains. Comparatively this medium gave a greater percentage of sporulation than five other media described previously.
Clinical evaluation of root tubers of Shweta Musali (Chlorophytum borivilianum L.) and its effect on semen and testosterone

Shweta Musali (Chlorophytum borivilianum (CB)) is a traditionally used herb for its benefits in male sexual and general health. In the recent past, the herb has attained much commercial significance, both in domestic and international markets. However, limited clinical data is available to establish its traditional claims. The present study was aimed at evaluating the effect of the water soluble extract of CB root tubers on semen and testosterone in healthy adult males. The research was designed as a randomized, double-blind, placebo-controlled, trial upon the volunteers registered from the outpatient department (OPD) with age ranging from 20 to 40 years. Water extracts of CB and placebo was administered in the patients of groups A and B, for 12 weeks, in two divided doses of 500 mg. Assessment was done based upon Semen (Volume, Liquefaction Time, Sperm Count, Sperm motility) and Serum Testosterone levels parameters. Highly significant improvement was noted in the above parameters after administration of CB extract in comparison to Placebo. Hence it was concluded that the trial drug was effective in improving male sexual health.
The Change in Ownership After a Buyout: Impact on Performance

This paper analyses the impact of the change in ownership after a management buyout on both post-buyout efficiency and growth. We contrast family firm buyouts with divisional buyouts, and private equity (PE) financed buyouts with non-PE financed buyouts. We analyse the four-year post-buyout growth and efficiency of 167 Belgian companies (of which 43 are transfers from family owned businesses) that did a buyout between 1996 and 2003. Results show that the source of a buyout (family owned buyout versus divisional buyout) has no impact on the post-buyout growth, but the presence of a PE has. PE-backed buyouts grow less in assets, but more in employees. Neither sales growth nor efficiency are different between different types of buyouts.
Adrenaline and glycogenolysis in skeletal muscle during exercise: a study in adrenalectomised humans

1 The role of adrenaline in regulating muscle glycogenolysis and hormone‐sensitive lipase (HSL) activity during exercise was examined in six adrenaline‐deficient bilaterally adrenalectomised, adrenocortico‐hormonal‐substituted humans (Adr) and in six healthy control individuals (Con). 2 Subjects cycled for 45 min at ∼70 % maximal pulmonary O2 uptake (V̇O2,max) followed by 15 min at ∼86 %V̇O2,max either without (−Adr and Con) or with (+Adr) adrenaline infusion that elevated plasma adrenaline levels (45 min, 4.49 ± 0.69 nmol l−1; 60 min, 12.41 ± 1.80 nmol l−1). Muscle samples were obtained at 0, 45 and 60 min of exercise. 3 In −Adr and Con, muscle glycogen was similar at rest (−Adr, 409 ± 19 mmol (kg dry wt)−1; Con, 453 ± 24 mmol (kg dry wt)−1) and following exercise (−Adr, 237 ± 52 mmol (kg dry wt)−1; Con, 227 ± 50 mmol (kg dry wt)−1). Muscle lactate, glucose‐6‐phosphate and glucose were similar in −Adr and Con, whereas glycogen phosphorylase (a/a+b× 100%) and HSL (% phosphorylated) activities increased during exercise in Con only. Adrenaline infusion increased activities of phosphorylase and HSL as well as blood lactate concentrations compared with those in −Adr, but did not enhance glycogen breakdown (+Adr, glycogen following exercise: 274 ± 55 mmol (kg dry wt)−1) in contracting muscle. 4 The present findings demonstrate that during exercise muscle glycogenolysis can occur in the absence of adrenaline, and that adrenaline does not enhance muscle glycogenolysis in exercising adrenalectomised subjects. Although adrenaline increases the glycogen phosphorylase activity it is not essential for glycogen breakdown in contracting muscle. Finally, a novel finding is that the activity of HSL in human muscle is increased in exercising man and this is due, at least partly, to stimulation by adrenaline.
Extension of the hammerstein model for power amplifier applications

Due to the use of modem digital modulation methods power amplifiers are nowadays subjected to signals having a considerable bandwidth and a fast changing envelope. This means that traditional quasi-memoryless AMAM and AMPM characteristics are no longer enough to describe and model the behavior of power amplifiers [I]-[2], neither can they be successfully used for linearization. Instead, different models with memory have been introduced to accurately model power amplifiers over the bandwidth of interest [3]-[SI. In most cases the identification of the system parameters is done using multiple swept CW or two-tone measurements. An altemative approach is to extract the model parameters from sampled input output data as in [6]-[8]. The latter is the approach taken here.