Miracle-dz/UniFAR-FTUs huggingface dataset:
Optimizing Room Capacity and Profitability for Hong Kong Hotels

ABSTRACT This study estimates optimal guestroom capacity for the Hong Kong hotel industry during 2010–2013 using a single-period inventory model. Using Hong Kong hotel operational data for the period 2000–2009, we identify an issue of serious overcapacity of Hong Kong hotels for 2010–2013, the severity of which ranges from 30.6 to 40.7% above the optimal hotel guestroom counts derived from our study. We further estimate an optimal advertising budget as a percentage of total revenue (3.78%) in maximizing profitability. Attention is called for stakeholders to carefully reexamine existing and future hotel development plans and work on pushing up future room demand. The implications of our study are also discussed.
The Effect of Estimation Risk on Capital Market Equilibrium

The solution to the problem of portfolio choice is relevant in a positive financial economics context because it provides models of individual maximizing behavior which when aggregated to the level of the market provide models of equilibrium asset pricing. These models generally assume that the parameters of the probability distribution of security returns are known to individual investors. In practice, however, the individual has to estimate these parameters. To the extent that there is parameter uncertainty or “estimation risk”, what are the observable implications of a market equilibrium derived on the assumption that the information set of all investors is equivalent to a given set of sample data?
An Empirical Investigation of an Incentive Plan that Includes Nonfinancial Performance Measures

Recent studies report an increasing use of nonfinancial measures such as product quality, customer satisfaction, and market share in performance measurement and compensation systems. A growing literature suggests that because current nonfinancial measures are better predictors of long‐term financial performance than current financial measures, they help refocus managers on the long‐term aspects of their actions. However, little empirical evidence is available on the relation between nonfinancial measures and financial performance, and even less is known about performance impacts of incorporating nonfinancial measures in incentive contracts. Using time‐series data for 72 months from 18 hotels managed by a hospitality firm, this study provides empirical evidence on the behavior of nonfinancial measures and their impact on firm performance. The results indicate that nonfinancial measures of customer satisfaction are significantly associated with future financial performance and contain additional information.
Board Composition, Managerial Ownership, and Firm Performance: An Empirical Analysis

Our objective is to examine the sensitivity of simultaneous equations techniques in corporate governance research. We model Tobin's Q, board composition, and managerial ownership using a three-equation instrumental variables approach, with two specifications and four instruments. We find that the variables are jointly determined. However, results depend strongly on the specification of the model and the instruments. We conclude that results using simultaneous equations methods must be interpreted cautiously, OLS estimates should not be casually dismissed, and that sensitivity analysis is essential when estimating an empirical model whose structure is uncertain. Copyright 1998 by MIT Press.
‘Wicked’, ‘Messy’, and ‘Clumsy’: Long-Term Frameworks for Sustainability

Society requires new forms of science and technology to productively accommodate the intrinsic value-laden judgments needed to manage the high uncertainties and considerable long-term impacts of sustainable urban planning. Responses to these ‘wicked’ problems include the development of postnormal science in the early 1990s. In subsequent literature on postnormal sustainability technologies, multiactor approaches to decision making are beginning to emerge. I examine an example: the development in New Zealand of a 100-year vision: the Auckland Sustainability Framework. Developed over fifteen months through ‘messy’ consultation across stakeholders, it has provided a clumsy’ outcome, namely one which enabled multiple viewpoints to be expressed and responded to by others. The process adopted offers evidence in support of the development of sustainability frameworks over much longer timescales than the current norm in local authorities, and indications of how such processes may unfold.
Reduced Susceptibility to Azithromycin and High Percentages of Penicillin and Tetracycline Resistance in Neisseria gonorrhoeae Isolates from Manaus, Brazil, 1998

Background The identification of Neisseria gonorrhoeae isolates resistant to antimicrobial agents currently recommended for the treatment of gonococcal infections continues to escalate globally. Thus, in some areas, resistance to fluoroquinolone drugs is commonplace; several reports document resistance to third-generation cephalosporins, and the sporadic isolation of spectinomycin-resistant isolates continues unabated. Gonococcal resistance to azithromycin, an antibiotic used for the primary treatment of gonococcal infections in some Latin American countries, also has been described. Because the prevalence of resistant isolates is insufficiently documented in many areas of Latin America, the efficacy of locally recommended therapies for gonococcal infections is often unknown. Goal To determine the antimicrobial susceptibility and strain types of N gonorrhoeae isolates collected in Manaus, Brazil. These data will establish antimicrobial susceptibility baseline data for the region as a reference point for future surveillance. Study Design Consecutive N gonorrhoeae isolates from urethral and endocervical specimens were collected and examined for identity, antimicrobial susceptibility, and strain type (plasmid content, tet M type, auxotype, and serovar). Results Most of the isolates (65/81; 85.2%) were resistant to tetracycline, penicillin, or both, with the majority (n = 62) carrying plasmid-mediated resistance to tetracycline (tetracycline-resistant N gonorrhoeae [TRNG]). All of the TRNG contained the Dutch-type tet M plasmid, and 18 were A/S class NR/IA-02. Penicillinase-producing N gonorrhoeae comprised 8.2% (7/81) of the isolates. Of these seven isolates, four also were TRNG, and two carried chromosomal resistance to tetracycline. The isolates were susceptible to ciprofloxacin, spectinomycin, and ceftriaxone. However, 23 isolates were characterized by reduced susceptibility to azithromycin (MIC, 0.25–0.5 &mgr;g/ml), and one isolate had reduced susceptibility to ciprofloxacin (MIC, 0.25 &mgr;g/ml). Conclusions This study supports the continued use of third-generation cephalosporins, spectinomycin, and fluoroquinolone drugs for the primary treatment of gonococcal infections in Manaus. The occurrence of isolates with reduced susceptibility to azithromycin and ciprofloxacin underscores the importance of ongoing antimicrobial susceptibility monitoring to support decisions regarding appropriate drugs for the treatment of gonococcal infections.
Does combination of lipid formulation of amphotericin B and echinocandins improve outcome of invasive aspergillosis in hematological malignancy patients?

In vitro and in vivo studies suggested that combination of lipid formulation of amphotericin B (L‐AMB) and echinocandins may have a synergistic or additive effect against Aspergillus. Furthermore, clinical studies suggested that this combination may improve response of invasive aspergillosis (IA).
Pricing of Risky Initial Audit Engagements

SUMMARY: We reexamine the association between audit fees and risky initial engagements by developing an ex ante client-risk metric that is based on auditor change 8-K filings. We concentrate on auditor-client disagreements and other reportable events (restatement, management integrity, scope limitations, illegal acts, reaudits) disclosed in the 8-K auditor change filings. We find that audit fees are significantly higher for clients reporting disagreements and other reportable events in their 8-K auditor change filings for the initial year of engagement. However, the fee premium is only attributable to Big 4 auditors. While the Big 4 charge 45 percent higher fees when clients have disagreements or other reportable events, there is no such fee premium associated with non-Big 4 clients. More importantly, Big 4 predecessor auditors increase fees prior to the auditor switch as clients develop problems. Big 4 successor auditors continue to charge significantly higher fees for at least three years following adve.
Economic Fluctuations in MENA: Does Financial Market Development Matter?*

This paper explores the possibility that financial market development mitigates cyclical fluctuations in four MENA countries. The paper uses the GARCH approach to account for the timevarying behavior of macroeconomic volatility, and distinguishes between overall and sectoral macroeconomic volatility. Results from cointegration and error-correction models suggest that financial market developments (alternatively measured) do exert a robust long-term dampening effect on macroeconomic volatility. In contrast, short-term effects of financial development on cyclical fluctuations are generally tenuous. These findings imply that financial market developments in the MENA countries contribute to macroeconomic stability, but only if these developments persist over a prolonged period of time. The results also indicate that financial deepening impacts sectoral growth differently across the countries examined.
Are Negative Option Prices Possible? The Callable U.S. Treasury-Bond Puzzle

Market prices for callable Treasury bonds often imply negative values for the implicit call option. The author considers a variety of possible explanations for these negative values including the Treasury's track record in calling bonds optimally, tax-related effects, tax-timing options, and bond liquidity. None of these factors accounts for the negative values. Although the costs of short selling may explain why these apparent arbitrage opportunities persist over time, why these implicit call values become negative in the first place remains a puzzle. Copyright 1992 by University of Chicago Press.
Bendamustine for the treatment of multiple myeloma in first-line and relapsed–refractory settings: a review of clinical trial data

Abstract Multiple myeloma (MM) is a hematologic malignancy characterized by abnormal growth and/or dysregulation of plasma cells leading to the build-up of malignant plasma cells in the bone marrow and increased production of monoclonal immunoglobulins. Treatment modalities for MM include autologous stem cell transplant (ASCT), chemotherapy with conventional and immunomodulatory agents, radiation therapy and adjunct therapies. Bendamustine is a synthetic chemotherapeutic agent combining the alkylating properties of a mustard group with the activities of a benzimidazole ring, giving it a unique alkylating activity compared with other alkylating agents. Bendamustine has proven activity in both newly diagnosed and relapsed–refractory MM. Bendamustine has also demonstrated activity in MM after relapse from ASCT, and has recently been used successfully as a conditioning regimen for ASCT in combination with melphalan. Bendamustine is generally well tolerated, with the majority of adverse events being due to bone marrow suppression. Extramedullary toxicity is infrequent and usually mild.
Monetary Policy and Rational Asset Price Bubbles

I examine the impact of alternative monetary policy rules on a rational asset price bubble, through the lens of an overlapping generations model with nominal rigidities. A systematic increase in interest rates in response to a growing bubble is shown to enhance the fluctuations in the latter, through its positive effect on bubble growth. The optimal monetary policy seeks to strike a balance between stabilization of the bubble and stabilization of aggregate demand. The paper's main findings call into question the theoretical foundations of the case for "leaning against the wind" monetary policies.
Reconsidering the use of “explicit” and “implicit” as terms to describe task requirements

Abstract Conscious and unconscious expressions of memory—explicit and implicit memory, respectively—may be used to support performance in a given task, even when the task demands do not ostensibly require one or the other. Work from Voss, Lucas and Paller reveal that just as indirect tasks can capture the influence of explicit memory, direct tasks of memory can capture implicit memory mechanisms. Consequently, tasks cannot be truly labeled as explicit or implicit; as such labels presuppose, perhaps erroneously, the nature of memory that supports performance.
THE ROLE OF CULTURE ON COUNTRY GOVERNANCE

Country-level governance as measured by the six governance indicators of the Governance Matters of the World Bank has been proven in the literature to be closely related to the financial development of a country and in attracting international investment. In this study we find that countries characterized as secular-rational oriented are associated with a better governance structure in terms of political stability, government effectiveness, rule of law, and control of corruption. Note that we fail to find a direct correlation between control of corruption and norm obedience.
Heterogeneous Trade Interests and Conflict

Empirical studies on trade and conflict generally make use of highly aggregated data. There are, however, good theoretical arguments to suspect that trade in some goods should have a bigger impact on the likelihood of conflict than trade in others. This article examines the relationship between trade and conflict at a lower level of aggregation. It discusses various theoretical arguments why the relationship between trade and conflict should vary across industry sectors, particularly strategic trade, asset specificity, and possible appropriation of gains from trade. The central hypotheses are tested using dyadic United Nations trade data disaggregated at industry level from 1970 to 1997. The main findings are that trade generally reduces the likelihood of conflict, the relationship is weaker for commodities that are more easily appropriable by force, and the relationship is generally stronger for manufactured goods with the notable exceptions of chemical and metal industries and the high-technology sector.
The complexity and unpredictability of young people’s learning careers

Draws from a four‐year longitudinal study of young people’s experiences of learning in further education. The project, funded by the Further Education Development Agency, focused upon relationships between the personal careers of young people and the structured opportunities for education and training available to them. A single case study is used in order to illustrate the kinds of insight which the study afforded. The research revealed a stark contrast between the complexity and unpredictability of the young people’s learning careers, and the more structured approaches in current policy and practice.
Low back pain in Hong Kong: prevalence and characteristics compared with Britain.

STUDY OBJECTIVE--To compare the prevalence of low back pain and associated disability in Hong Kong with that in Britain, and to explore whether differences could be explained by certain known risk factors. DESIGN--A cross sectional survey with information collected at interview. Findings were compared with those from an earlier survey in Britain. SETTING--Two housing blocks in Hong Kong. SUBJECTS--Altogether 288 men and 364 women aged 18 years or older, who were resident in the two housing blocks and agreed to interview (response rate = 80%). MAIN RESULTS--Thirty nine per cent (95% confidence interval (CI) 34%, 44%) of interviewees reported having had low back pain at some time, and 21% (95% CI 18%, 25%) had had low back pain in the past 12 months. After standardisation for age and sex, all of the back symptoms examined were substantially less common in Hong Kong than in Britain. The one year period prevalence of low back pain was associated with occupational lifting (in both sexes) and with tall stature (in men only). Subjects tended to carry out less heavy lifting at work and to be shorter than participants in the earlier British study but these differences did not completely explain their lower prevalence of back pain. CONCLUSIONS--The findings indicate a lower prevalence of back symptoms in Hong Kong than Britain that is partly explained by differences in stature and occupational lifting. In addition, Hong Kong people may have a higher threshold for reporting symptoms, or they may differ in their exposure to other, unrecognised risk factors.
Commercialization partnerships as an enabler of UK public sector innovation: the perfect match?

This article examines the potential for private sector organizations to contribute to public sector innovation. Specifically, the study explores how partnering with the private sector can go beyond delivery and extend to development of new services and new markets. The term ‘commercialization partnership’ is coined for such partnerships and the article describes an exploratory investigation of this emerging form of innovation.
Phosphodiesterase inhibitors for erectile dysfunction in patients with diabetes mellitus.

BACKGROUND Erectile dysfunction is a common multi-factorial complication of diabetes mellitus. Numerous strategies have been tried to overcome this diabetic complication. In recent years, phosphodiesterase type 5 (PDE-5) inhibitors have been introduced in the management of erectile dysfunction. OBJECTIVES The objective of this review was to assess the effect of PDE-5 inhibitors on the management of erectile dysfunction in diabetic men. SEARCH STRATEGY Studies were obtained from computerised searches of MEDLINE, EMBASE and The Cochrane Library. SELECTION CRITERIA Randomised controlled trials, in which treatment with PDE-5 inhibitors was compared to control, in diabetic patients with erectile dysfunction. DATA COLLECTION AND ANALYSIS Two reviewers independently extracted data and assessed trial quality. MAIN RESULTS Eight randomised controlled trials were identified. A total 976 men were allocated to receive a PDE-5 inhibitor and 741 were randomised to the control groups. Overall, 80% of the participants suffered from type 2 diabetes mellitus. The weighted mean difference (WMD) for the International Index of Erectile Function (IIEF) questions 3 and 4 (frequency of penetration during and maintaining erection to completion of intercourse) was 0.9 (95% CI 0.8 to 1.1) and 1.1 (95% CI 1.0 to 1.2) at the end of the study period, in favour of the intervention group. The WMD for the IIEF erectile dysfunction domain at the end of the study period was 6.6 (95% CI 5.2 to 7.9) in favour of the PDE-5 inhibitors arm. The relative risk (RR) for answering "yes" to a global efficacy question ( "did the treatment improve your erections? ") was 3.8 (CI 95% 3.1 to 4.5) in the PDE-5 inhibitors compared with the control arm. The WMD between the percentage of successful attempts in the PDE-5 inhibitors and in the control arm was 26.7 (95% CI 23.1 to 30.3). Mortality was not reported in any of the included trials. Adverse cardiovascular effects were reported in one study. Headache was the most frequent adverse event reported, flushing was the second most common event, with upper respiratory tract complaints and flu like syndromes, dyspepsia, myalgia, abnormal vision and back pain also reported in a descending order of frequency. The overall risk ratio for developing any adverse reaction was 4.8 (CI 95% 3.74 to 6.16) in the PDE-5 inhibitors arm as compared to the control. AUTHORS' CONCLUSIONS Sufficient evidence exists that PDE-5 inhibitors form a care that improves erectile dysfunction in diabetic men.
Exclusionary Bundling and the Effects of a Competitive Fringe

The traditional analysis of exclusionary bundling examines the impact of a monopolist bundling product A with another product B, which is competitively provided. Using experimental posted-offer markets, we investigate the exclusionary and welfare implications of having a fringe competitor in the A market. We find that the fringe seller increases the consumer surplus while decreasing the seller surplus and that the fringe seller does not affect the consumer surplus extracted from the bundle despite a decrease in the bundle transaction price. The consumer surplus gains generated by the fringe seller erode if the dominant seller has a lower average cost.
Personal and Organizational Correlates Affecting Attitudes of Women Executives Towards Their Job

The rapid economic growth and industrialization of the Indian economy has created considerable employment opportunities for people, including women, especially for those who possess marketable skills and talents. Historically speaking, women in Indian society have far from had equality with men. The traditional patriarchal attitudes towards women still prevail and restrict the intensity of their efforts towards realizing the benefits of the globalization process. An attempt has been made in this article to develop, refine and validate a scale for measuring attitudes of women executives towards their job. The relationship of personal and organizational characteristics to attitudes is also examined. The study is based on a sample of 271 respondents taken from selected organizations of the service sector in Punjab. Advocated procedures are used for developing and checking the reliability and validity of the scale. Pearson's Chi-Square test and Analysis of Variance are carried out for analysis. The findings reveal that women executives are quite positive in their approach and are reportedly accepted as executives in India. Women executives perceive that they do possess the competence, potential and willingness required of executives. However, our analysis shows that except for age and job level, no other personal and organizational characteristics like education, marital status and years of experience in the institution show any association with the attitudes score. Further, it is observed that the nature of organization and the type of ownership have a significant impact on attitudes.