Miracle-dz/UniFAR-FTUs huggingface dataset:
Executive Stock and Option Valuation in a Two State-Variable Framework

Much has been written about how executive stock options should be valued. The options themselves are not that complicated, but they have a variety of special features that make valuing them difficult, like vesting rules and restrictions on selling them in the market. Forcing the option holder to keep a concentrated position in the firm's equity and options, rather than diversifying into a broader portfolio, lowers the value of the options to the recipient. That, in turn, reduces the performance incentive that option grants are meant to produce, and raises the effective cost to the firm of providing that incentive. The problem is mitigated in many executive stock option valuation models, because they assume that the executive allocates his wealth portfolio between options and/or restricted firm stock, and a risk–free asset. Since there are no other equity instruments in the model, there is an extra demand for the options because they are the way the investor gains access to the equity market. In this article, Cai and Vijh broaden the range of available assets to include the ability to invest outside wealth in the market portfolio.
Ability of Citrus Root System to Overcome a Strong Wax Layer

The present work aimed to investigate the effects of mechanical impedance of wax layer (wax discs were installed 0.1 m deep) on root system deepening of citrus seedlings growing in columns with sand and nutrient solution. Two planting systems were evaluated: direct seeding (DS) and planting of seedlings (PS) (plants obtained from seed germination in tubes). Two experiments were carried out in a sequence: first to investigate the wax layer resistance levels (0.14 to 2.7 MPa) on root system penetration and two planting systems (DS and PS). The second evaluated the root and plant development of the two planting systems and two resistance of wax layer to root penetration: control (0.14 MPa) and a strong wax layer (1.06 MPa). The experimental design was randomized blocks, the first experiment in a 2 × 4 factorial scheme with 4 replications and the second a 2 × 2 factorial scheme with 6 replications. Resistance level ≥ 1.52 MPa (60% hard wax and 40% soft wax) completely limited root penetration in the artificial strong layer. The presence of strong wax disc reduced the citrus root system in both planting systems. PS was associated with greater root and shoot vigor, indicating that, in soils with good physical structure and porosity or allowing root deepening beyond the cohesive layer, this planting system is fully adequate, despite the possible benefit of not cutting the pivoting root in direct sowing.
GENERATIONAL DIFFERENCES ON WORK ENGAGEMENT LEVELS OF GOVERNMENT HEALTHCARE INSTITUTION EMPLOYEES

The objective of this study was to explore generational differences on work engagement levels of employees in a South African government healthcare institution. The Ultrech Work Engagement Scale measured the participants’ levels of work engagement and it was administered to a random sample size of government healthcare institution employees (n=289). Statistical analyses of the data were conducted and the results of ANOVA indicated that the levels of work engagement significantly differ depending on the employees’ generational cohort or group for the dimensions vigour, dedication and absorption. In terms of contributions and practical implications, recommendations are made regarding proposed organisational development interventions to enhance employees’ work engagement levels in a healthcare institution context as well as to conduct future research.
Different Strategies of Compliment Responses Used by Iranian EFL Students and Australian

The advanced Iranian EFL students are capable of producing grammatically correct sentences, but they have a lot of gaps, lack of variety and form-function clashes in communication. Therefore, this pragmatic failure may specially be traced in the areas of speech acts. This paper investigates to explore the differences between the strategies of responses to compliments given by Iranian EFL students compared with Australian English speakers in terms of socio-cultural patterns. In line with the nature of the present research, a cross- cultural one, 30 Australian English speakers and 30 Iranian EFL students were given a questionnaire consisting of two parts, each of which was composed of 8 open-ended questions. Based on the Chi- square inferential statistics the collected data were analyzed and interpreted and the results were obtained. The overall results suggested that some strategies of Compliment Responses (CRs) are cultural-specific like request interpretation "Qabel-Nadare" (I am glad to give it to you as a gift)" in Iranian culture and that there were various strategies of CRs which were used for different purposes by Iranian EFL students and Australian English speakers. Index Terms—compliment responses, Iranian EFL students, socio-cultural patterns, speech acts
The Effect of Energy Consumption and Human Capital on Economic Growth: An Exploration of Oil Exporting and Developed Countries

Energy has long been argued as an essential factor for the development of the economy and therefore it should be brought in line with the other production factors of neoclassical economics, capital and labour. Using panel data for 130 countries from 1981 to 2009, this paper explores the impact of multiple forms of energy consumption and human capital on per capita GDP growth. Generalized method of moments is applied to estimate an augmented neoclassical growth model that includes education and health capital as well as energy consumption. The key outcomes from this study show that education and health capital have a signifficant effect on economic growth. Energy consumption is also found to support higher growth. The results on the differential effects of energy and human capital on the economic growth of the developed and oil exporting countries indicate that energy consumption has a significant positive effect in both types of countries. Education capital affects the developed countries positively while health capital affects the oil exporting countries' economic growth negatively. These results are useful for policy makers, especially in less developed countries encouraging them to implement, for example, compulsory secondary education and child immunizations in order to reach higher standards of living. Moreover, energy must be used more efficiently to ensure sustainable growth.
Implementation of overrun and skipping in VxWorks

In this paper we present our work towards allowing for dependence among partitions in the context of hierarchical scheduling of software systems with real-time requirements, and we present two techniques for cross-partition synchronization. We have earlier developed a Hierarchical Scheduling Framework (HSF) in VxWorks for independent real-time tasks, and in this paper we extend the HSF implementation with capabilities of synchronization between tasks resident in two different partitions. In particular, we have implemented the overrun and skipping mechanisms in our modular scheduling framework. Our framework has a key characteristic of being implemented on top of the operating system, i.e., no modifications are made to the kernel. Such a requirement enforce some restrictions on what can be made with respect to the implementation. The evaluation performed indicates that, under the restrictions of not modifying the kernel, the skipping mechanism has a much lower implementation overhead compared to the overrun mechanism.
Influence of the tropical Pacific east–west thermal contrast on the autumn precipitation in South China

Analysis of observational and reanalysis data shows that the autumn precipitation in South China is closely related to the east–west sea surface temperature (SST) contrast in the tropical Pacific. An east–west contrast (EWC) index, defined as the difference of the normalized area‐averaged SST between the tropical eastern Pacific (150°W–90°W, 5°S–5°N) and the tropical western Pacific (WP; 110°E–180°E, 5°S–5°N), is proposed to delineate this feature. When the EWC index is positive, the tropical eastern (western) Pacific is warmer (colder) than normal. It would cause significant southerly wind anomalies from the Indochina Peninsula to eastern China, leading to enhanced water vapour convergence and anomalous ascending motion over South China. Therefore, enhanced autumn precipitation is observed in South China. Further analysis suggests that the SST of the tropical WP dominates the lower‐tropospheric meridional wind and the resultant water vapour transport and convergence over subtropical East Asia, and that the SST of both the tropical eastern and the tropical WP contributes to the anomalous ascending motions over South China. These results highlight the combined effects of tropical eastern and WP on the autumn precipitation in South China and specifically emphasize the role of tropical WP SST. Given the performance of the EWC index in describing the autumn precipitation as well as the leading time and the persistence of the EWC index, it could be used as a good indicator in the monitoring and prediction of the autumn precipitation in South China, which is demonstrated by a simple statistical prediction model.
Space charge characteristics and the electric field distoration after polarity reversal operation in two layers of oil-impreagnated paper and oil

The formation of space charge in the oil-impregnated paper and oil insulation system under HVDC condition can influence the electric field distribution. In the case of HVDC converter transformer, the distortion of electric field may affect its performance. It is, therefore, important to analyse factors that can affect space charge formation and dissipation characteristics such as moisture, temperature, electric stress level and ageing process. This paper mainly focuses on the effect of oil ageing on space charge characteristics in the oil-impregnated paper and oil system. The pulsed electroacoustic method was used to monitor space charge dynamics and these data were further incorporated into the model established using COMSOL to estimate its impact on electric field distribution. The results show that there is a significant electric field enhancement after polarity reversal operation due to the injected charges. It is also noticed that the status of the oil has a profound effect on the injected charge dynamics, therefore, the electric field enhancement.
Characteristics and factors influencing fast food intake of young adult consumers in Johannesburg, South Africa

Abstract Objectives: To determine fast food consumption patterns, socio-economic characteristics and other factors that influence the fast food intake of young adults from different socio-economic areas in Johannesburg, South Africa. Methods: A descriptive, cross-sectional study was undertaken, using an interviewer-administered, validated questionnaire to elicit the characteristics of the study population (adults aged from 19 to 30 years), their reasons for and frequency of fast food consumption, their specific fast food choices, and their attitudes towards health. Results: The study population (n=341) consisted primarily of young working adults (n=242) with at least a secondary education. Almost half (42%, n=102) of the employed participants earned less than R5 000 per month, but spent more than R200 on fast food per month. Twenty-one per cent of all participants had fast food at least once a week, while 27.6% had it two to three times a week. Socio-economic group (SEG) and gender were significantly related to fast food intake (p < 0.01), with a larger proportion of participants (65%, n=76) in the lower socio-economic group (LSEG) showing more frequent use. Males consumed fast food more frequently than females. The most popular fast foods consumed were burgers (69.5%), pizza (56.6%) and fried chicken (38.4%). Soft drinks were the most popular beverage consumed (56%). The main reasons for choosing fast food were time limitations (58.9%), convenience (58.2%) and taste (52.5%). The majority of the participants were concerned about their health (93.3%) and indicated a fear of becoming overweight (44.3%). Seventy-eight per cent of all the participants would have chosen a healthier option if it had been available on the menu. Television was reported to be the most effective medium influencing their food choices. Conclusion: Fast food intake appears to be very common in this group of young South African adults. Various factors that influence fast food intake were identified that provide health educators and policy makers with useful information for health promotion.
Empirical Review of the Role of Microfinance Bank’s Operations on Poverty Alleviation in Nigeria

The scourge of poverty and the rate at which the figure is growing has necessitated the establishment of many anti-poverty programmes by different administrations in Nigeria. As at 2010 the number of Nigerians living below poverty line stood at 72 million, this then means that nearly half of Nigeria Population of 160 million is living below poverty line with all the anti-poverty programmes put in place. This figure is still on the increase. Microfinance Banking is the most recent and the only anti-poverty programme that combines financial intermediation with provision of financial services to the poor in the society. This paper therefore examined the role of Microfinance Bank’s operations on poverty alleviation in Nigeria. Data for the study were generated via secondary sources. The study built a regression model in line with the hypotheses. SPSS package version 17.0 was used. We tested for and corrected Autocorrelation and Muiticoliinearity. Our findings were as follows: the operations of MFBs have played significant role in poverty reduction in Nigeria, loans and advances of MFBs have significant negative impact on poverty alleviation. Some of our of our findings were in agreement with the objectives of MFB, while those that were not in agreement reflect the peculiar circumstances of the operations of microfinance banking in Nigeria. Since the government of Nigeria is interested in alleviating poverty, this work will be of immense help. The government can support Microfinance development by promoting macroeconomic stability, and avoiding interest rate caps and high inflation, ensure that the benefits of Microfinance banking are targeted at the core poor.
A Critical Appraisal of the Concept of Non-profit Services Marketing

he author deconstructs the prevailing conceptualization of non-profit marketing and concludes it rests on three principles: voluntary exchange, an open system organization, and self-interest motivation. A review of the genesis of these principles revealed that alternative principles were ignored in the social science literature. Based on a qualitative analysis a revised conceptualization of non-profit marketing was suggested which incorporated the principles of reciprocity, the features of a contingency-choice organization, and altruistic interest motivation. A revised definition of non-profit marketing is offered based on these principles.
Governance, Regulation and Innovation: Introducing New Studies

We introduce new studies that argue in favour of: (i) according a central role to governance and regulation as potential determinants of innovation; and (ii) analysing the effects of governance and regulation on innovation in conjunction with the effects of the market structure. These studies were presented at an international conference at the University of Greenwich in September 2011 and will be published as an edited book titled Governance, Regulation and Innovation: Theory and Evidence on Firms and Countries (Edward-Elgar, 2013). The studies explore the relationship between governance and regulation widely defined and innovation, taking into account the interactions between governance and market structure as well as between different dimensions of governance. They contribute to existing literature by providing new empirical evidence and by pointing out to complementary and offsetting innovation effects that may result from interactions between economic governance institutions, corporate governance rules, regulation on the one hand and the market structure on the other.
Statistical trend analysis and extreme distribution of significant wave height from 1958 to 1999 – an application to the Italian Seas

Abstract. The study is a statistical analysis of sea states timeseries derived using the wave model WAM forced by the ERA-40 dataset in selected areas near the Italian coasts. For the period 1 January 1958 to 31 December 1999 the analysis yields: (i) the existence of a negative trend in the annual- and winter-averaged sea state heights; (ii) the existence of a turning-point in late 80's in the annual-averaged trend of sea state heights at a site in the Northern Adriatic Sea; (iii) the overall absence of a significant trend in the annual-averaged mean durations of sea states over thresholds; (iv) the assessment of the extreme values on a time-scale of thousand years. The analysis uses two methods to obtain samples of extremes from the independent sea states: the r-largest annual maxima and the peak-over-threshold. The two methods show statistical differences in retrieving the return values and more generally in describing the significant wave field. The r-largest annual maxima method provides more reliable predictions of the extreme values especially for small return periods (
Financial Integration, Foreign Direct Investment and Growth: Panel Data Analysis for West African Economic Monetary Union countries (WAEMU)

The main objective of this paper is to investigate the linkage between financial integration, foreign direct investment (FDI) and economic growth, of four West African countries namely Cote di¯Ivoire, Benin, Senegal and Togo running the period of 1980 to 2014. To make the empirical investigation, I examine long-run equilibrium (cointegration) relationship among variables by using Pedroni (1997; 1999; 2000) procedure. Then, I estimate a dynamic panel system GMM estimator proposed by Blundell and Bond (1998) with fixed effects approaches by utilizing Hausman test (1978). Finally, to verify the robustness of our estimators, I additionally perform panel Ordinary Least Squares method (OLS) and Two Stages Least Squares method (TSLS) Cumby et al. (1983). The overall results from the regression show that foreign direct investment (FDI) is not an important determinant of economic growth West Africa. However, its effect is relatively low and statistically insignificant at the conventional level. In addition, I found that financial integration variable impacts negatively growth in the four countries cited above, which signifies that financial integration policy doesni¯t allows financial system to be more efficient. Furthermore, the empirical results show that the effect of domestic own investment is globally positive and statistically significant for all countries when using panel least square framework. This stipulates that state own investment is determinant factors of economic growth in the region. The study finally suggests that structural strong macroeconomics reforms should be taken to strengthen policies through appropriate regulatory.
Interpersonal Dynamics in Assessment Center Exercises

Although interpersonal interactions are the mainstay of many assessment center exercises, little is known about how these interactions unfold and affect participant behavior and performance. More specifically, participants interact with role players who have been instructed to demonstrate behavior reflecting specific dispositions as part of the exercise. This study focuses on role player portrayed disposition as a potentially important social demand relevant to participant behavior and performance in interpersonal simulations. We integrate interpersonal theory and trait activation theory to formulate hypotheses about the effects of role player portrayed disposition on participant behavior and performance in 184 interpersonal simulations. A significant effect of portrayed disposition was found for participant relationship building and directive communication behavior. Furthermore, portrayed disposition moderated the relationship between participant use of these behaviors and performance ratings. Conceptually, this study sheds light on the complementary mechanisms and social demands that produce participant performance differences across exercises. At a practical level, this study provides valuable evidence-based guidance for developing interpersonal simulations.
Southeast Papuan crustal tectonics: Imaging extension and buoyancy of an active rift

Southeast Papua hosts the world's youngest ultra‐high‐pressure (UHP) metamorphic rocks. These rocks are found in an extensional setting in metamorphic core complexes. Competing theories of extensional shear zones or diapiric upwelling have been suggested as driving their exhumation. To test these theories, we analyze the CDPAPUA temporary array of 31 land and 8 seafloor broadband seismographs. Seismicity shows that deformation is being actively accommodated on the core complex bounding faults, offset by transfer structures in a manner consistent with overall north‐south extension rather than radial deformation. Rayleigh wave dispersion curves are jointly inverted with receiver functions for crustal velocity structure. They show crustal thinning beneath the core complexes of 30–50% and very low shear velocities at all depths beneath the core complexes. On the rift flanks velocities resemble those of normal continents and increase steadily with depth. There is no evidence for velocity inversions that would indicate that a major density inversion exists to drive crustal diapirs. Also, low‐density melt seems minor within the crust. Together with the extension patterns apparent in seismicity, these data favor an extensional origin for the core complexes and limit the role of diapirism as a secondary exhumation mechanism, although deeper mantle diapirs may be undetected. A small number of intermediate‐depth earthquakes, up to 120 km deep, are identified for the first time just northeast of the D'Entrecasteaux Islands. They occur at depths similar to those recorded by UHP rocks and similar temperatures, indicating that the modern seismicity occurs at the setting that generates UHP metamorphism.