Miracle-dz/UniFAR-FTUs huggingface dataset:
A UK Test of an Inflation-Adjusted Ohlson Model

Abstract: This paper conducts a UK test of a version of the Ohlson (1995) model. We should only expect abnormal earnings to revert to zero if the book value of assets is economically meaningful. In this paper we make use of the property revaluations common in UK accounts, but estimate other asset values and earnings in inflation-adjusted terms. This, we argue, gives rise to estimates of abnormal earnings that can reasonably be expected to revert to zero. We then test this modified model on UK data using the Dechow, Hutton and Sloan (1999) method. In line with the predictions of the Ohlson model, we find that these modified abnormal earnings appear to mean revert, and that a first order autoregressive process is sufficient to capture the persistence of UK real abnormal earnings. The modified abnormal earnings model in general predicts one year ahead earnings more successfully than an unmodified model. Furthermore, for much of the sample period, one year ahead predictions of abnormal earnings are better for the real model during periods of higher inflation. The undervaluation problem found in prior studies appears to be replaced with an overvaluation problem in the real model which is more acute during periods of high inflation. Last, we show that an estimate of the model based upon an industry level specification appears to perform no better than a market-wide specification of the model. Copyright Blackwell Publishers Ltd, 2005.
Sudden Death and Primary Leptomeningeal Melanocytosis: A Case Report With an Autopsy Diagnosis

Abstract Meningeal melanocytoma is a rare benign pigmented tumor. It develops from melanocytes normally present in the meninges of the posterior fossa and medulla. It is an extra-axial tumor that manifests because of compression of adjacent structures. Although classified as a benign tumor, it can cause sudden death by several mechanisms. We report a rare case of meningeal melanocytoma and discuss the mechanism of death. A 21-year-old man with a previous history of recurrent lipothymia was admitted to the emergency department because of generalized seizures. Death occurred despite resuscitation. A medico-legal autopsy was performed. External examination of the body showed nonspecific asphyxia signs without any violence evidence. Necropsy noticed a brain edema with a dark color of the meninges especially in the frontal part. Histological examination concluded to diffuse meningeal melanocytoma with cerebral edema.
The Leasing Puzzle

Prevailing theories in finance and economics suggest that leases and debt are substitutes; an increase in one should led to a compensating decrease in the other. In particular, there are three views on the magnitude of the substitution coefficient. Standard finance theory treats cash flows from lease obligations as equivalent to debt cash flows, thus describing the tradeoff between debt and leases as one-to-one. Others are willing to use a tradeoff of leases for debt which is less than, but close to, one. The rationale for a dollar of leases using less of debt capacity than a dollar of debt obligation is based upon the differences in the terms and nature of lease and debt contracts. Finally, there are some who argue that since leased assets may be firm-specific, the risk of moral hazard may be great, resulting in a tradeoff of greater than one-to-one; that is, a dollar of a lease obligation uses more of debt capacity than a dollar of a debt obligation. A series of empirical tests are performed in this study on samples of approximately 600 firms, covering the years 1976 through 1981, with none of the three views supported by the results. Instead, the results indicate that leases and debt are complements; greater use of debt is associated with a greater use of leasing. This finding reappears consistently for each year, each definition of leverage ratios, and each approach to analysis. This complementary relationship persists even after refinements are made to the estimation technique.
Role of extracellular matrix and prolactin in functional differentiation of bovine BME-UV 1 mammary epithelial cells

Interactions between extracellular matrix (ECM) and epithelial cells are necessary for proper organisation and function of the epithelium. In the present study we show that bovine mammary epithelial cell line BME-UV1 cultured on ECM components, commercially available as Matrigel, constitutes a good model for studying mechanisms controlling functional differentiation of the bovine mammary gland. In contact with Matrigel BME-UV1 cells induce apicobasal polarity, and within 16 days form three dimensional (3D) acinar structures with a centrally localized hollow lumen, which structurally resemble mammary alveoli present in the functionally active mammary gland. We have shown that the 3D culture system enables a high expression and proper localisation of integrin receptors and tight junction proteins in BME-UV1 cells to be induced. This effect was not obtained in cells grown in the classical 2D culture system on plastic. Moreover, ECM highly stimulated the synthesis of one of the major milk proteins, β-casein, even in the absence of prolactin. Our results show that contact with ECM plays an important role in the lactogenic activity of bovine MECs, however, prolactin is necessary for the efficient secretion of milk proteins.
Dead or Alive? Explaining the Long-Term Survival Chances of Interest Groups

Interest groups are crucial for the representation of interests in politics. An important aspect is not only which groups are formed, but also which groups survive over time. This paper outlines and empirically investigates hypotheses about which factors explain interest group survival. The empirical literature on survival has been limited by the lack of actual survival data and has instead relied on self-assessment data on the likelihood of survival. The article examines survival using a unique dataset that covers a population of interest groups, spans over three decades (1976–2010), and contains data on interest group characteristics and information about whether the groups survived. As expected, resources such as members and employees increase the probability of survival. However, a privileged position in the decision-making process, a largely neglected factor in previous studies, also affects survival. This implies that insider groups are likely to be overrepresented in interest group populations.
Marketing Fun Foods: A Profile and Analysis of Supermarket Food Messages Targeted at Children

Childhood obesity is a significant problem that requires innovative solutions. This article suggests that researchers and policy-makers move beyond a scrutiny of junk food and televised advertisements to children to focus on the messages targeted to children in the supermarket. Following a content analysis of fun foods marketed to children, the article (a) outlines why the recoding of “regular” food into “fun food” contributes to the childhood obesity crisis, and (b) suggests how the meaning-making practices of food can be acknowledged in the policy-making process.
Broad expression of fructose‐1,6‐bisphosphatase and phosphoenolpyruvate carboxykinase provide evidence for gluconeogenesis in human tissues other than liver and kidney

The importance of renal and hepatic gluconeogenesis in glucose homeostasis is well established, but the cellular localization of the key gluconeogenic enzymes liver fructose‐1,6‐bisphosphatase (FBPase) and cytosolic phosphoenolpyruvate carboxykinase (PEPCK) in these organs and the potential contribution of other tissues in this process has not been investigated in detail. Therefore, we analyzed the human tissue localization and cellular distribution of FBPase and PEPCK immunohistochemically. The localization analysis demonstrated that FBPase was expressed in many tissues that had not been previously reported to contain FBPase activity (e.g., prostate, ovary, suprarenal cortex, stomach, and heart). In some multicellular tissues, this enzyme was detected in specialized areas such as epithelial cells of the small intestine and prostate or lung pneumocytes II. Interestingly, FBPase was also present in pancreas and cortex cells of the adrenal gland, organs that are involved in the control of carbohydrate and lipid metabolism. Although similar results were obtained for PEPCK localization, different expression of this enzyme was observed in pancreas, adrenal gland, and pneumocytes type I. These results show that co‐expression of FBPase and PEPCK occurs not only in kidney and liver, but also in a variety of organs such as the small intestine, stomach, adrenal gland, testis, and prostate which might also contribute to gluconeogenesis. Our results are consistent with published data on the expression of glucose‐6‐phosphatase in the human small intestine, providing evidence that this organ may play an important role in the human glucose homeostasis. J. Cell. Physiol. 197: 189–197, 2003© 2003 Wiley‐Liss, Inc.
Testing the Churchill Hypothesis: Popular Support for Democracy and its Alternatives

ABSTRACT Whereas many studies of democratization evaluate it in idealist terms, Winston Churchill offered a relativist criterion, democracy being a lesser evil compared to other types of regime. Since everyone in a post-Communist society has lived in at least two different regimes, the New Democracies Barometer survey of post-Communist countries can ask people to evaluate five alternative regimes: a return to Communist rule, the army taking over, monarchy, rule by a strong leader, and decision making by economic experts. Factor analysis shows endorsement of three alternatives—the return to Communism, army rule, and personal dictatorship—form an authoritarianism scale. It also shows support for authoritarian rule is confined to a minority. Five hypotheses are tested to see what accounts for this. The political legacy of the past is more important than current government performance, economic attitudes, social structure differences, and national culture and traditions. Endorsement of economic technocrats making decisions is not related to authoritarianism; it reflects some national differences. Given the importance of experiencing both democratic and undemocratic regimes, the Churchill hypothesis does not apply in a country that has not yet attempted to introduce democratic institutions.
Lack of Association between Mannose-binding Lectin 2 Codons 54 and 57 Gene Polymorphisms and Cervicovaginal Infections in Mexican Women

The mannose-binding lectin (MBL) 2 gene has an important function in the innate immune response and activation of the third pathway of the complement system. Some studies have assessed the association of the MBL2 gene polymorphisms with cervicovaginal infections (CVI); however, there is no information about this association in Mexican women. This study aimed to determine the association between the MBL2 codons 54 and 57 gene polymorphisms with CVI in a sample of Mexican women. Through a cross-sectional study, blood samples and cervicovaginal cultures were obtain from 354 women. MBL2 genotyping was performed by real-time polymerase chain reaction with Taqman probes. Of the 354 women studied, 128 (36.2%) had CVI and 226 (63.8%) were healthy. The frequencies of the C and T variants in codon 54 in women with CVI were 83% and 17%, respectively; whereas the frequencies of these variants in healthy women were 82% and 18%, respectively. The frequencies of variants C/C, C/T, and T/T in women with CVI were 68%, 31%, and 1%, respectively; whereas the frequencies of these variants in healthy women were 68%, 29%, and 3%, respectively. With respect to codon 57, the frequencies of variants C and T were identical in women with CVI and in healthy women (97% and 3%, respectively). The frequencies of variants C/C, C/T, and T/T were identical in women with CVI and in healthy women (94%, 6%, and 0%, respectively). We conclude that MBL2 codons 54 and 57 gene polymorphisms do not associate with CVI in Mexican women.
Flunarizine, The Vestibular System and Migraine

The vestibular function was extensively investigated in 75 patients suffering from migraine. Pathological findings were present in 62 patients (82.6%). With the exception of position nystagmus, vestibular abnormalities were not related to migraine characteristics. Fifty-six patients were treated with flunarizine 10 mg daily for three months. A favourable effect on headache was obtained in 44 patients (78.5%). Flunarizine therapy influenced significantly gaze nystagmus and position nystagmus. The latter tended to be related to antimigraine efficacy. Other electronystagmographic parameters were not substantially influenced. The authors assume that the vestibular abnormalities in migraine are side phenomena, the clinical relevance of which, at least during the headache-free phase, is not yet well understood.
Overexpression of peroxiredoxins I, II, III, V, and VI in malignant mesothelioma

Peroxiredoxins (Prxs) are a recently characterized group of thiol‐containing proteins with efficient antioxidant capacity, capable of consuming hydrogen peroxide in living cells. Altogether six distinct Prxs have been characterized in mammalian tissues. Their expression was investigated in histological samples of mesothelioma and in cell lines established from the tumours of mesothelioma patients. Four cases with histopathologically healthy pleura from non‐smokers were used as controls. Healthy pleural mesothelium was negative or very weakly positive for all Prxs. In mesothelioma, the most prominent reactivity was observed with Prxs I, II, V, and VI. Prx I was highly or moderately expressed in 25/36 cases, the corresponding figures for Prxs II–VI being 27/36 (Prx II), 13/36 (Prx III), 2/36 (Prx IV), 24/36 (Prx V), and 30/36 (Prx VI). Positive staining was observed both in the cytosolic and the nuclear compartment, with the exception of Prx III, which showed no nuclear reactivity. The staining pattern of Prxs III and V was granular. Immunoelectron microscopic localization of Prxs was in accordance with the immunohistochemical findings, showing diffuse cytoplasmic localization for Prxs I, II, IV, and VI and distinct mitochondrial labelling for Prxs III and V. There was no significant association between the extent of staining and different Prxs. It appeared that Prxs may not have prognostic significance, but being prominently expressed in most mesotheliomas these proteins, at least in theory, may play a role in the primary drug resistance of this disease. Copyright © 2002 John Wiley & Sons, Ltd.
Life-Cycle Economies and Aggregate Fluctuations

Do the implications for business cycle issues change when we switch from studying infinitely-lived, representative-agent models to more sophisticated demographic structures with finitely lived agents? This article addresses that question by using a large, overlapping-generations model that is calibrated to U.S. demographic properties, microeconomic evidence, and National Income and Product Accounts. The finding is that the answers obtained are basically the same for the two kinds of models. The article also explores the relative volatility of hours across age groups, an issue that cannot be addressed by using the infinitely-lived, representative-agent abstraction.
MAPPING INNOVATION: REGIONAL DIMENSIONS OF INNOVATION AND NETWORKING IN THE NETHERLANDS1

The paper addresses spatial patterns of innovation and partnership in innovation processes in the Netherlands, building on the Netherlands’ part of the Community Innovation Survey, conducted by Statistics Netherlands. Innovation is analysed from a system perspective, addressing both input factors (education levels of human resources and R&D), throughput factors (partnership with regionally, nationally and internationally based partners) and output factors (results in terms of the launching of new products on the market and/or the implementation of new processes in production). Our descriptive analyses at detailed spatial levels (four‐digit postal code areas) provide indications that the relation between input factors and results of innovation processes is highly differentiated across regions. Furthermore, international connectivity seems to be strongly connected to the results of innovation processes, whereas the relation between regional clustering and innovative output appears rather weak.
Explaining venture capital firms' syndication behaviour: A longitudinal study

Using a unique methodological approach, this paper examines the factors related to venture capital firms' (VCFs') involvement in syndication. It is argued that VCFs' investment strategies matters in terms of the extent to which VCFs engage in syndication. Several hypotheses pertaining to VCFs' syndication behaviour are tested based on a longitudinal data set of the realized strategies of 200 US-based VCFs over a 12-year period. Overall, support is found for both knowledge-based and financial arguments for why VCFs engage in syndication. Results are discussed and avenues are provided for future research.
Is speed of integration really a success factor of mergers and acquisitions? An analysis of the role of internal and external relatedness

Previous research on mergers and acquisitions has neglected the issue of speed of postmerger integration by and large. This paper argues that there are benefits and detriments associated with speed of integration. Thus, in some situations speed may be highly beneficial whereas in others it may be harmful to the success of a merger or acquisition. It is argued that the benefits and detriments of speed of integration depend on the magnitude of internal and external relatedness between the merging firms prior to the merger or acquisition. Results from a survey of 232 horizontal mergers and acquisitions show that speed is most beneficial when external relatedness is low and at the same time internal relatedness is high. In contrast, speed is highly detrimental in the case of low internal and high external relatedness. Copyright  2006 John Wiley & Sons, Ltd.
Complementarities of trade advantage and trade competitiveness measures

The complementarities of trade advantage and trade competitiveness measures for agro food trade of five Central European (CE-5) countries with the European Union are analysed. The stability and duration of the trade measures over time is investigated by the survival analysis using the nonparametric Kaplan–Meier product limit estimator, and the consistency test between the trade measures is conducted by the stratified Cox proportional hazard model. The CE-5 countries experienced a greater number of products with relative trade disadvantages and greater significance of one way imports. Unlike the Czech Republic, Poland, Slovakia and Slovenia, Hungary experienced Relative Trade Advantages (RTAs) for bulk raw commodities, processed intermediates and horticulture, with the greatest significance of successful quality competition and one-way exports, and the lowest significance of unsuccessful price and unsuccessful quality competition. The duration of RTAs is longer than the duration for the successful trade competition categories. Our results confirm that the RTA is consistent with the one way export and the successful price and successful quality competition categories in two way trade on one side, and the relative trade disadvantage with the one way import and the unsuccessful price and unsuccessful quality competition on the other.
Accounting and financial audit harmonization in the European Union

The article reviews the evolution of financial reporting in the EU and considers how this is likely to affect auditing in the future. The analysis shows how the European Commission has recently concentrated its harmonization focus on the consolidated accounts of listed companies and the use of International Accounting Standards. The move towards internationally harmonized reporting seems likely to require auditing to be harmonized throughout Europe, which seems to impact recent national auditing standards. It is probable that this trend will continue and in the short term will cause changes in the arrangements for external overview of the audit and in national auditor independence rules.
Australian Mergers and Acquisitions Since the 1980s: What Do We Know and What Remains to Be Done?

hr re marke T ee studies published in the mid-nineteen-eighties heralded a surge of search on merger and acquisition (M&A) activity in Australia. The share t studies of Walter (1984) and Bishop, Dodd and Officer (1987) concluded that takeovers help allocate capital to more valued uses.1 In contrast, McDougall and Round (1986) found, using accounting measures, that merged firms perform worse than they did pre-merger and worse relative to matched non-merging firms. The divergent conclusions highlight the key issue in M&A research: does an active M&A market lead to a more efficient allocation of resources? This survey covers subsequent published work on the Australian M&A market.2 For convenience, studies are grouped by their relevance to the following four questions: What motivates M&As? How are gains/losses distributed among acquiring and target firms? What is the impact of takeover regulation on the distribution of gains and losses? And, are expectations realised? The aim is not to provide a comprehensive critique, space constraints preclude that, but to identify areas where progress has been substantial, to note issues that remain unresolved and indicate what appear to be under-researched questions that are capable of being addressed in future work. In short, we aim to provide a guide to current knowledge
Two‐stage hepatectomy for multiple bilobar colorectal liver metastases

As surgical resection of colorectal liver metastases (CLM) remains the only treatment for cure, efforts to extend the surgical indications to include patients with multiple bilobar CLM have been made. This study evaluated the long‐term outcome, safety and efficacy of two‐stage hepatectomy (TSH) for CLM in a large cohort of patients.
Evolution of an extended Ricci flow system

has been used with great success for the construction of canonical metrics on Riemannian manifolds of low dimension. In his first paper on the Ricci flow, Hamilton proved that given an initial metric with positive Ricci curvature in three dimensions, a rescaled solution for t → ∞ exists and has constant positive curvature. Many further results in direction of a proof of the Poincare conjecture followed. Some of these are collected in [2]. The recent approach of Perelman to prove the full geometrization conjecture added new ideas to Hamilton’s program [6, 7]. In particular, Perelman showed that the Ricci flow can be interpreted as a gradient flow of an entropy functional and thus that the canonical metrics are stationary points of this entropy in the variational sense. Our purpose is to develop a corresponding theory for canonical objects with a certain physical interpretation. We prove the existence of an entropy E such that the stationary points are solutions to the static Einstein vacuum