Miracle-dz/UniFAR-FTUs huggingface dataset:
Do Mutual Fund Flows Drive the Disposition Behavior of Fund Managers?

Are the behavioral biases of fund managers affected by capital flows? This paper examines the relationship between fund flows and the disposition behavior of fund managers. The disposition biases of fund managers are significantly negatively correlated with unexpected fund flows, but insignificantly correlated with expected fund flows. Additionally, funds embedded with higher capital gains tax overhang tend to have managers with lower disposition biases. Further evidence shows that fund performance is influenced more by the flow-induced rather than the non-flow-induced disposition behavior of fund managers.
Portfolio Choice over the Business Cycle and the Life Cycle

Do households holding risky financial securities tend to invest in the stock market, buying at the top and selling at the bottom? Do they reduce their risk exposure with age and especially when approaching retirement? We answer these questions using data on retirement savings contracts from a large French insurer over the period 2002 to 2009. Subscribers can invest their savings in two types of investment vehicles: a euro fund composed primarily of money market securities with almost no risk, and unit-linked funds representing UCITS shares invested in risky securities. We show that the share of capital invested in unit-linked funds is sensitive to market conditions, but mainly at the date of subscription. Once the initial share has been selected, inertia of portfolio choice is observed as investors rarely revise their position subsequently. We observe a steep procyclicality of investment choices which can be explained by extrapolation of recent market performance. New subscribers buy risky assets when the stock market rises and stop buying them when it drops. This leads them to hold a minimum share of risky assets in 2004, a beginning of a 4-year rising phase and a maximum share in 2008 at the beginning of a fall market.We also find that the risky share declines with age once time effects are controlled for and cohort effects are excluded. The age profile also declines in the reverse configuration (taking into account cohort effects and excluding time effects) but the decline is less pronounced. After a discussion of the plausibility of the different effects, we estimate a probability of unit-linked detention which decreases by about 12 percentage points with age between ages 40 and 60, and a conditional equity share which decreases by about 6 percentage points with age between 40 and 60 years. This decrease is too small to bring the invested share to zero when approaching retirement.
Mucosal Biofilm Formation on Middle‐Ear Mucosa in a Nonhuman Primate Model of Chronic Suppurative Otitis Media

Background: An increased awareness of bacterial biofilms and their formation has led to a better understanding of bacterial infections that occur in the middle ear. Perhaps the best studied pathogen for its propensity toward biofilm formation is Pseudomonas aeruginosa, also the primary pathogen in chronic suppurative otitis media (CSOM).
Does social trust speed up reforms? The case of central-bank independence

Abstract Many countries have undertaken central-bank independence reforms, but the years of implementation differ. What explains such differences in timing? This is of interest more broadly, as it sheds light on factors that matter for the speed at which economic reforms come about. We study a rich set of potential determinants, both economic and political, but put special focus on a cultural factor, i.e. social trust. We find empirical support for an inverse u-shape: Countries with low and high social trust implemented their reforms earlier than countries with intermediate levels. We make use of two factors to explain this pattern: the need to undertake reform (which is more urgent in countries with low social trust) and the ability to undertake reform (which is greater in countries with high social trust). Overall, our findings imply that culture matters for institutional change.
The “healthy immigrant” effect: does it exist in Europe today?

Several studies, carried out mainly in the United States and Canada, have suggested that recent immigrants are generally healthier than native-born populations in spite of the fact that they frequently have a lower socioeconomic status and less access to healthcare services. This “epidemiological paradox” has been called the “healthy immigrant” effect and is usually attributed to a self-selection process prior to migration, “cultural buffering” and official health screening and employability in receiving countries. In this paper, we have evaluated the European scientific research into the existence of the “healthy immigrant” effect.
Policy for material efficiency—sustainable taxation as a departure from the throwaway society

The present economy is not sustainable with regard to its per capita material consumption. A dematerialization of the economy of industrialized countries can be achieved by a change in course, from an industrial economy built on throughput to a circular economy built on stock optimization, decoupling wealth and welfare from resource consumption while creating more work. The business models of a circular economy have been known since the mid-1970s and are now applied in a number of industrial sectors. This paper argues that a simple and convincing lever could accelerate the shift to a circular economy, and that this lever is the shift to a tax system based on the principles of sustainability: not taxing renewable resources including human labour—work—but taxing non-renewable resources instead is a powerful lever. Taxing materials and energies will promote low-carbon and low-resource solutions and a move towards a ‘circular’ regional economy as opposed to the ‘linear’ global economy requiring fuel-based transport for goods throughput. In addition to substantial improvements in material and energy efficiency, regional job creation and national greenhouse gas emission reductions, such a change will foster all activities based on ‘caring’, such as maintaining cultural heritage and natural wealth, health services, knowledge and know-how.
Financial consequences of IAS adoption :the case of Jordan

Past studies have recognised that a country's accounting system, including disclosure requirements and practice, does not develop in a vacuum but is shaped by a number of influences. Although several studies have been undertaken to identify factors affecting disclosure in various countries including Jordan, disclosure in compliance with all related and relevant International Accounting Standards (IAS), factors influencing disclosure in compliance with IAS and the financial consequences of increased disclosure in compliance with IAS have not been explored. This research therefore has looked at the development of disclosure in compliance with all related and relevant IAS, the factors influencing disclosure in compliance with IAS and the financial consequences of increased disclosure in compliance with IAS in Jordan. The investigation concentrated on the empirical analysis of1) The impact of IAS adoption on the Jordanian Industrial Companies (JIC) listed on Amman Stock Exchange (ASE) extent of disclosure over the period 1995-2000, and: 2) The impact of five company-specific factors (company size, audit firm, industry type, profitability, and capital structure) on the extent of disclosure in compliance with IAS of JIC over the period 1995-2000, and: 3) The financial consequences of adopting IAS, more specifically the impact of adopting IAS on systematic risk, unsystematic risk, risk premium, cost of equity capital, and share price volatility of JIC listed on ASE over the period 1996-2000. The development of accounting reporting and regulations in Jordan in connection with the country economy development was reviewed by highlighting the reasons forced toward adopting the IAS through the Companies Act and Amman Stock Exchange requirements. Such a review provides relevant background to the issue to be investigated in this study.
A combined scheme in reversible digital image watermarking

One of the reversible watermarking schemes is prediction based reversible watermarking. Sorting technique is a fundamental step in reversible watermarking. If we use effective sorting techniques, better results can be achieved. On the other hand efficient prediction schemes produce smaller prediction errors and embedding in the smaller prediction errors leads to higher quality and capacity. In this paper, a hybrid approach is used. An effective sorting and prediction techniques are used together. Using the artificial neural networks instead of averaging results to predict more accurate and simultaneously using an efficient criterion for sorting instead of the local variance results to an increase in capacity and the visual quality of the watermarked image. The results of this combined approach show that the proposed method is superior to each of the main methods.
Direct evidence that oxygen-derived free radicals contribute to postischemic myocardial dysfunction in the intact dog.

Electron paramagnetic resonance (EPR) spectroscopy was used to investigate whether (i) the free radicals produced in the "stunned" myocardium (myocardium with postischemic contractile dysfunction) are derived from O2, (ii) inhibition of radical reactions improves function, and (iii) i.v. spin traps are effective. Open-chest dogs undergoing a 15-min coronary occlusion received an i.v. infusion of the spin trap, alpha-phenyl N-tert-butylnitrone (PBN) (50 mg/kg). In group I (n = 6), EPR signals characteristic of radical adducts of PBN appeared in the coronary venous blood during ischemia and increased dramatically after reperfusion. In group II (n = 6), which received PBN and i.v. superoxide dismutase (SOD; 16,000 units/kg) plus catalase (12,000 units/kg), myocardial production of PBN adducts was undetectable during ischemia (delta = -100%, P less than 0.01 vs. group I) and markedly inhibited after reperfusion (delta = -86%, P less than 0.001). This effect was seen at all levels of ischemic zone flow but was relatively greater in the low-flow range. In group III (n = 8), the same dosages of SOD and catalase without PBN markedly enhanced contractile recovery (measured as systolic wall thickening) after reperfusion [P less than 0.01 at 3 hr vs. controls (group IV, n = 7)]. Systemic plasma activity of SOD and catalase averaged 127 +/- 24 and 123 +/- 82 units/ml, respectively, 2 min after reperfusion. PBN produced no apparent adverse effects and actually improved postischemic contractile recovery in group I (P less than 0.05 at 3 hr vs. controls). This study shows that (i) SOD and catalase are highly effective in blocking free radical reactions in vivo, (ii) the radicals generated in the "stunned" myocardium are derived from univalent reduction of O2, and (iii) inhibition of radical reactions improves functional recovery. The results provide direct, in vivo evidence to support the hypothesis that reactive oxygen metabolites play a causal role in the myocardial "stunning" seen after brief ischemia.
Estrogen receptor-beta expression in extraabdominal fibromatoses: an analysis of 40 cases.

BACKGROUND Early experiments using ligand-binding assays demonstrated the presence of estrogen receptor (ER) in fibromatoses. These findings were not confirmed by later studies using immunohistochemical analysis. METHODS To verify the expression of ERs in fibromatosis as well as to clarify the inconsistency between radioligand and early immunohistochemical studies, the authors examined a series of 40 extraabdominal fibromatoses using antibodies raised against ERbeta. RESULTS All 40 cases of extraabdominal fibromatosis were at least focally positive for ERbeta. Thirty-three of 40 (83%) displayed 3+ (>50%) expression, 5 of 40 (12%) were 2+ (11-50%), and 2 of 40 (5%) cases showed 1+ (<10%) expression. All cases were negative for ERalpha. CONCLUSIONS Although extraabdominal fibromatosis does not express ERalpha, there appears to be nearly uniform expression of ERbeta. This finding clarifies discrepancies in the literature regarding estrogen expression in fibromatosis, and provides a biological mechanism for the action of antiestrogenic compounds in the treatment of fibromatosis. Estrogen antagonists may have a role in the treatment of refractory or recurrent extraabdominal fibromatoses.
Individual Differences in Locomotor Function Predict the Capacity to Reduce Asymmetry and Modify the Energetic Cost of Walking Poststroke

Changes in the control of the lower extremities poststroke lead to persistent biomechanical asymmetries during walking. These asymmetries are associated with an increase in energetic cost, leading to the possibility that reducing asymmetry can improve walking economy. However, the influence of asymmetry on economy may depend on the direction and cause of asymmetry. For example, impairments with paretic limb advancement may result in shorter paretic steps, whereas deficits in paretic support or propulsion result in shorter nonparetic steps. Given differences in the underlying impairments responsible for step length asymmetry, the capacity to reduce asymmetry and the associated changes in energetic cost may not be consistent across this population. Here, we identified factors explaining individual differences in the capacity to voluntarily reduce step length asymmetry and modify energetic cost during walking. A total of 24 individuals poststroke walked on a treadmill, with visual feedback of their step lengths to aid explicit modification of asymmetry. We found that individuals who took longer paretic steps had a greater capacity to reduce asymmetry and were better able to transfer the effects of practice to overground walking than individuals who took shorter paretic steps. In addition, changes in metabolic cost depended on the direction of asymmetry, baseline cost of transport, and reductions in specific features of spatiotemporal asymmetry. These results demonstrate that many stroke survivors retain the residual capacity to voluntarily walk more symmetrically on a treadmill and overground. However, whether reductions in asymmetry reduce metabolic cost depends on individual differences in impairments affecting locomotor function.
Cost of illness of adult diabetes mellitus underestimated if comorbidity is not considered

Norlund A, Apelqvist J, Bitzén P.‐O, Nyberg P, Scherstén (Swedish Council on Technology Assessment in Health Care, Stockholm; and University Hospital; and Dalby/Lund, University of Lund, Lund, Sweden) Cost of illness of adult diabetes mellitus underestimated if comorbidity is not considered. J Intern Med 2001; 250: 57–65.
Effect of mercury vapour exposure on urinary excretion of calcium, zinc and copper: relationship to alterations in functional and structural integrity of the kidney

Background: The kidney has a remarkable capacity to concentrate mercury (Hg) and as such is a primary target organ when exposure to Hg occurs, and it is also an organ for Hg excretion. Objective: The present work aims to investigate the effect of occupational Hg vapour exposure on the urinary excretion of calcium (Ca), zinc (Zn) and copper (Cu), and the possible association of this excretion to work duration as well as renal alterations. Methods: 83 non-smoker participants (36 referents, age: 35.69 / 9.5 years; 27 Hg vapour-exposed workers with 5 / 10 years work duration, age: 33.09 / 5.1 years; and 20 Hg vapour-exposed workers with] / 11 years work duration, age: 39.509 / 8.50 years) were included in the present study. Urinary levels of microalbumin (U-Malb) and retinol-binding protein (U-RBP) as well as cytosolic glutathione S-transferase activity (U-GST) were measured to assess the glomerular and proximal tubular reabsorption functions as well as structural integrity of proximal tubules; respectively. In addition, blood Hg (B-Hg), serum levels of Hg (S-Hg) and Ca (S-Ca), and urinary levels of Hg (U-Hg), Ca (U-Ca), Zn (U-Zn), Cu (U-Cu) and creatinine (U-cr) were estimated. Results: In comparison to referents, all investigated parameters showed significant increase (except S-Ca and U-Zn/U-Cu ratio that significantly decreased among the workers as one group, S-Ca and U-Zn/U-Cu ratio that significantly and nonsignificantly decreased; respectively among workers with 5 / 10 years work duration, S-Ca and U-Zn/U-Cu ratio that significantly decreased among workers with] / 11 years work duration). In addition, B-Hg was nonsignificantly increased and S-Ca was significantly decreased; also, both U-Hg and U-Zn/U-Cu were nonsignificantly decreased among workers with] / 11 years work duration in comparison to those with 5 / 10 years work duration. Also, each of U-Hg, U-Ca, U-Zn and U-Cu was related to one another, while each of U-Ca, U-Zn and U-Cu was related to each of U-Malb, U-RBP and U-GST (except U-Zn was not related to U-GST). Conclusion: Hg vapour exposure leads to renal alterations which may parallel the change in proteinuria and enzymuria as well as the increased loss in urine of each of Ca, Zn and Cu. The urinary assessment of these metals may be used as a good indicator for renal dysfunction.
Cross-Mode Comparability of Computer-Based Testing (CBT) versus Paper-Pencil Based Testing (PPT): An Investigation of Testing Administration Mode among Iranian Intermediate EFL Learners.

Advent of technology has caused growing interest in using computers to convert conventional paper and pencil-based testing (Henceforth PPT) into Computer-based testing (Henceforth CBT) in the field of education during last decades. This constant promulgation of computers to reshape the conventional tests into computerized format permeated the language assessment field in recent years. But, enjoying advantages of computers in language assessment raise the concerns of the effects that computerized mode of testing may have on CBT performance. Thus, this study investigated the score comparability of Vocabulary in Use test taken by 30 Iranian undergraduate students studying at a state university located in Chabahar region of Iran (CMU) to see whether scores from two administrations of testing mode were different. Therefore, two similar tests were administered to the male and female participants on two testing mode occasions with four weeks interval. Employing One-Way ANOVA statistical test to compare the mean scores and Pearson Correlation test to find the relationship between mode preference and performance revealed that two sets of scores were not different and gender difference was not also considered a variable that might affect performance on CBT. Based on the results, computerized version of the test can be considered a favorable alternative for the state undergraduate students in Iran.
Characterization of a Knock-In Mouse Line Expressing a Fusion Protein of κ Opioid Receptor Conjugated with tdTomato: 3-Dimensional Brain Imaging via CLARITY

Abstract Activation of κ opioid receptor (KOR) produces analgesia, antipruritic effect, sedation and dysphoria. To characterize neuroanatomy of KOR at high resolutions and circumvent issues of specificity of KOR antibodies, we generated a knock-in mouse line expressing KOR fused at the C terminus with the fluorescent protein tdTomato (KtdT). The selective KOR agonist U50,488H caused anti-scratch effect and hypolocomotion, indicating intact KOR neuronal circuitries. Clearing of brains with CLARITY revealed three-dimensional (3-D) images of distribution of KOR, and any G-protein-coupled receptors, for the first time. 3-D brain images of KtdT and immunohistochemistry (IHC) on brain sections with antibodies against tdTomato show similar distribution to that of autoradiography of [3H]U69,593 binding to KOR in wild-type mice. KtdT was observed in regions involved in reward and aversion, pain modulation, and neuroendocrine regulation. KOR is present in several areas with unknown roles, including the claustrum (CLA), dorsal endopiriform nucleus, paraventricular nucleus of the thalamus (PVT), lateral habenula (LHb), and substantia nigra pars reticulata (SNr), which are discussed. Prominent KtdT-containing fibers were observed to project from caudate putamen (CP) and nucleus accumbens (ACB) to substantia innominata (SI) and SNr. Double IHC revealed co-localization of KtdT with tyrosine hydroxylase (TH) in brain regions, including CP, ACB, and ventral tegmental area (VTA). KOR was visualized at the cellular level, such as co-localization with TH and agonist-induced KOR translocation into intracellular space in some VTA neurons. These mice thus represent a powerful and heretofore unparalleled tool for neuroanatomy of KOR at both the 3-D and cellular levels.
Calcium-binding sites of calmodulin and electron transfer by inducible nitric oxide synthase.

Like that of the neuronal nitric oxide synthase (nNOS), the binding of Ca(2+)-bound calmodulin (CaM) also regulates the activity of the inducible isoform (iNOS). However, the role of each of the four Ca(2+)-binding sites of CaM in the activity of iNOS is unclear. Using a series of single-point mutants of Drosophila melanogaster CaM, the effect that mutating each of the Ca(2+)-binding sites plays in the transfer of electrons within iNOS has been examined. The same Glu (E) to Gln (Q) mutant series of CaM used previously [Stevens-Truss, R. , Beckingham, K. , and Marletta, M. A. (1997) Biochemistry 36, 12337-12345] to study the role of the Ca(2+)-binding sites in the activity of nNOS was used for these studies. We demonstrate here that activity of iNOS is dependent on Ca(2+) being bound to sites II (B2Q) and III (B3Q) of CaM. Nitric oxide ((*)NO) producing activity (as measured using the hemoglobin assay) of iNOS bound to the B2Q and B3Q CaMs was found to be 41 and 43% of the wild-type activity, respectively. The site I (B1Q) and site IV (B4Q) CaM mutants only minimally affected (*)NO production (95 and 90% of wild-type activity, respectively). These results suggest that NOS isoforms, although all possessing a prototypical CaM binding sequence and requiring CaM for activity, interact with CaM differently. Moreover, iNOS activation by CaM, like nNOS, is not dependent on Ca(2+) being bound to all four Ca(2+)-binding sites, but has specific and distinct requirements. This novel information, in addition to helping us understand NOS, should aid in our understanding of CaM target activation.
Characterization of cytokine/chemokine profiles of severe acute respiratory syndrome.

RATIONALE There is currently no optimal treatment or effective drug for severe acute respiratory syndrome (SARS), because the immunopathologic mechanism is poorly understood. OBJECTIVES To explore the immune mechanism underlying the pathogenesis of SARS, we studied the expression profile of cytokines/chemokines in the blood and the immunopathology of the lung and lymphoid tissues. METHODS Fourteen cytokines/chemokines in the blood of 23 patients with SARS were dynamically screened, using a bead-based multiassay system. Reverse transcription-polymerase chain reaction was performed to amplify mRNA. Histopathology of the lung and lymphoid tissues at autopsy was examined, using methods of immunohistochemistry and double immunofluorescence staining. MAIN RESULTS Interferon-inducible protein-10 (IP-10) was markedly elevated in the blood during the early stage of SARS, and remained at a high level until convalescence. Moreover, IP-10 was highly expressed in both lung and lymphoid tissues, where monocyte-macrophage infiltration and depletion of lymphocytes were observed. The levels of interleukin-6, interleukin-8, and monocyte chemoattractant protein-1 were concomitantly increased in the blood of the patients with superinfection, and the mRNAs for these cytokines were also increased in lung tissues. CONCLUSIONS Induction of IP-10 is a critical event in the initiation of immune-mediated acute lung injury and lymphocyte apoptosis during the development of SARS. Superinfection after the immune injury is the main cause of death. The prompt elevation of interleukin-6, interleukin-8, and monocyte chemoattractant protein-1 is a sign of superinfection, indicating a high risk of death.