Miracle-dz/UniFAR-FTUs huggingface dataset:
The Impact of Tick Size on the Quality of a Pure Order-Driven Market: Evidence from the Stock Exchange of Hong Kong

Most previous studies rely on the event-study technique to investigate the impact of tick size change on market quality. We take an alternative approach, by comparing the market quality of a set of stocks whose prices fall within two tight regions around the threshold prices across which tick size changes. We choose the Stock Exchange of Hong Kong for this study because of its three desirable features: (1) it is a pure-order driven market which allows us to contrast with results on the NYSE ; (2) it offers a wide range of tick sizes and threshold prices which allows us to gauge the differential impact on market quality of different degrees of trading cost savings due to the tick size reduction; (3) it displays limit orders beyond the inside quote which is essential for drawing a correct inference regarding the impact of tick size on market depth. In contrast to previous studies, we find that the market quality, defined in terms of spread and market depth, increases after a reduction in tick size. Furthermore, the volume increases with the reduction of tick size as well. The biggest improvement in the market quality is found in smaller stocks, which see more economically significant changes in tick size than larger stocks.
The Manufacturing Sector Master File: 1959-1987

This document describes the panel of publicly traded United States manufacturing firms which was created and updated at the National Bureau of Economic Research from 1978 through 1990 within the Productivity Program. The panel consists of 2726 large manufacturing firms with one to twenty-nine years of data each; the period covered by the sampling frame was 1976 through 1987, with data back to 1959 where possible. There are about 90 variable for each firm-year of data: the variables give the complete income statement, balance sheet, statement of changes, and data on the market value f the common stock. The firms on the file are identified both by their CUSIP number and by name, making it feasible to match this data to other sources. A special feature of this data file is that all exits from the file between 1976 and 1987 have been identified and the reasons for exit have been tabulated in a diskette file. This file is described in Appendix A of this document.
Energy Use and Power Levels in New Monitors and Personal Computers

Our research was conducted in support of the EPA ENERGY STAR Office Equipment program, whose goal is to reduce the amount of electricity consumed by office equipment in the U.S. The most energy-efficient models in each office equipment category are eligible for the ENERGY STAR label, which consumers can use to identify and select efficient products. As the efficiency of each category improves over time, the ENERGY STAR criteria need to be revised accordingly. The purpose of this study was to provide reliable data on the energy consumption of the newest personal computers and monitors that the EPA can use to evaluate revisions to current ENERGY STAR criteria as well as to improve the accuracy of ENERGY STAR program savings estimates. We report the results of measuring the power consumption and power management capabilities of a sample of new monitors and computers. These results will be used to improve estimates of program energy savings and carbon emission reductions, and to inform rev isions of the ENERGY STAR criteria for these products. Our sample consists of 35 monitors and 26 computers manufactured between July 2000 and October 2001; it includes cathode ray tube (CRT) and liquid crystal display (LCD) monitors, Macintoshmore » and Intel-architecture computers, desktop and laptop computers, and integrated computer systems, in which power consumption of the computer and monitor cannot be measured separately. For each machine we measured power consumption when off, on, and in each low-power level. We identify trends in and opportunities to reduce power consumption in new personal computers and monitors. Our results include a trend among monitor manufacturers to provide a single very low low-power level, well below the current ENERGY STAR criteria for sleep power consumption. These very low sleep power results mean that energy consumed when monitors are off or in active use has become more important in terms of contribution to the overall unit energy consumption (UEC). Cur rent ENERGY STAR monitor and computer criteria do not specify off or on power, but our results suggest opportunities for saving energy in these modes. Also, significant differences between CRT and LCD technology, and between field-measured and manufacturer-reported power levels reveal the need for standard methods and metrics for measuring and comparing monitor power consumption. « less
Asymmetrical Response of p38 Kinase Activation to Volume Changes in Primary Rat Astrocytes

Activation of p38 kinase by osmotic stress has been documented in many cells; however, no report has distinguished the effects of cell volume on p38 activity from the effects of the altered osmotic condition per se. Here we report asymmetrical activation of astrocyte p38 mitogen-activated protein (MAP) kinase in response to volume increases and volume decreases. We separate effects of cell volume changes from the effects of osmotic exposure on p38 activation. Exposure to 400, 500, or 600 mOsm phosphate-buffered saline (PBS) caused cell shrinkage and an osmolality-dependent increase in p38 activity to 175%, 409%, or 518%, respectively, compared with cells maintained in control conditions (290 mOsm). Likewise, hyposmotic conditions ranging from 250 to 57 mOsm PBS caused the same activation of p38 (approximately 300% of the control value within 10 min). The activity in hyposmotic conditions did not diminish over 30 min despite cell volume recovery, indicating a dependence of extracellular osmolality or ionic strength rather than cell volume. Cells that were returned to isosmotic conditions following 30 min in 250, 150, or 57 mOsm PBS shrunk to 73%, 39%, or 26% of the control cell volume, respectively. In these cells, the activity of p38 increased further from approximately 300% of the control values in each hyposmotic condition to as much as 500% of the control activity as a function of the degree of cell shrinkage. Thus, p38 may be activated by cell shrinkage in hyperosmotic or in isoosmotic conditions, indicating reduced cell volume is a more important determinant of this enzyme activity than extracellular osmolality. Our results indicate distinct mechanisms of p38 activation in astrocytes exposed to hyperosmotic or hyposmotic PBS.
Pengaruh Ketidakpastian Lingkungan Terhadap Kinerja Perusahaan Melalui Karakteristik Informasi Sistem Akuntansi Manajemen Sebagai Variabel Intervening (Studi Empiris Pada Perusahaan Manufaktur di Kota Padang)

This research aimed to examine, (1) the influence of of environmental uncertainty on company performance,(2) environmental uncertainty on characteristics of management accounting information system broadscope, (3) characteristics of management accounting information system broadscope on company performance, (4) effect of environmental uncertainty on performance company indirectly through characteristics of management accounting information systems broadscope as an intervening variable The population of this study was manufacturing company in Padang City (20 manufacturing company). Sampling technique was using purposive method. Data was collected by survey method by distributing thequestionnaires to respondents (marketing managers, production managers and financial managers). Data was analyzed by path analysis. The result shows, (1) environmental uncertainty does not affect company performance, (2) environmental uncertainty has positif (+) influence on characteristics of management accounting information system broadscope, (3) characteristics of management accounting information system broadscope positif (+) impact to company performance, (4) environmental uncertainty has positif (+) affects company performance through the environmental uncertainty on characteristics of management accounting information system broadscope Suggestions for next researchers are giving full attention to other factors that affected the company performance and as well as increasing the number of samples. Key words : company performance, enviromental uncertainty, broadscope
Real Estate Risk in Equity Returns

In this paper, we investigate whether shocks to real estate markets constitute an important state variable in the context of the Intertemporal Capital Asset Pricing Model (ICAPM) and, hence, explain the cross-sectional variation in average returns of the 25 Fama-French portfolios sorted on size and book-to-market. We document that a real estate factor can explain much of the underlying risk inherent in the Fama-French size- and value-factors. In comparison to the Fama-French three-factor model, our alternative two-factor model including the real estate factor next to the market factor performs quite well in pricing the cross section of equity returns. Moreover, we provide evidence that the real estate factor is not captured by other sources of risk applied in the context of the ICAPM, such as shifts in credit market conditions and the stance of monetary policy, aggregate distress risk, and news related to future GDP growth.
Local Monopsony Power in the Market for Broilers - Evidence from a Farm Survey

The exercise of monopsony power by broiler processing firms is plausible because production occurs within localized complexes, which limits the number of integrators with whom growers can contract. In addition, growers face distinct hold-up risks as broiler production requires a substantial investment in specific assets and most production contracts do not involve long-term purchasing commitments by integrators. This paper provides an initial exploration of the links between the local concentration of broiler integrators and grower compensation under production contracts using data from the 2006 broiler version of USDA’s Agricultural Resource Management Survey. Results of this preliminary study, which accounts for characteristics of the operation and specific features of the production contract, suggest a small but economically meaningful effect of concentration on grower concentration. Limitations of the current analysis and future possible model extensions are discussed.
Sharing, privacy and trust issues for photo collections

Digital libraries are quickly being adopted by the masses. Technological developments now allow community groups, clubs, and even ordinary individuals to create their own, publicly accessible collections. However, users may not be fully aware of the potential privacy implications of submitting their documents to a digital library, and may hold misconceptions of the technological support for preserving their privacy. We present results from 18 autoethnographic investigations and 19 observations / interviews into privacy issues that arise when people make their personal photo collections available online. The Adams’ privacy model is used to discuss the findings according to information receiver, information sensitivity, and information usage. Further issues of trust and ad hoc poorly supported protection strategies are presented. Ultimately while photographic data is potentially highly sensitive, the privacy risks are often hidden and the protection mechanisms are limited.
Relative and Cross-national Human Resource Management research: Development of a hypothetical model

Rapid development of the human resource management (HRM) discipline has been discussed in this article with the need for more cross-national HRM studies. Thereafter the universal applicability of Anglo-Saxon models of HRM is questioned. In order to examine the applicability of HRM models in various settings (national and international), six major HRM models have been critically analyzed and their main research propositions have been identified. This provides the foundation for a framework for HRM evaluations in diverse contexts. Based on such a framework and developments in the literature, finally, a contextual model is proposed for conducting cross-national and relative HRM studies. The paper also provides some related directions for future research also.
Blockholders, Debt Agency Costs and Legal Protection

We investigate how investor protection influences the blockholder-bondholder conflict. We focus on family blockholders, the typical blockholders with high control motivations and the most common type of concentrated ownership, because blockholder-bondholders agency conflicts are clearest in this case. On one hand, family blockholders can mitigate debt costs through their undiversified investments, inter-generation presence, and firm survival concerns. On the other hand, they can exacerbate debt costs because of their unique power position to extract private benefits, leading to higher bankruptcy risk. The ultimate impact depends on how family blockholders are disciplined, specifically by the investor protection laws. Using international bond issues for 1,072 international firms from 23 countries we find that the presence of a family blockholder increases debt costs but the ultimate impact depends on investor protection: family firms in low investor protection countries suffer from higher debt costs compared to non-family firms, while family firms in high investor protection countries benefit from lower debt costs. Family's presence in management further increases debt costs but we find no effect from superior voting rights. We find no impact from institutional blockholdings and there is no evidence that they discipline family blockholders. The results show the importance of investor protection for debt agency conflicts.
The prevalence of symptoms of sleep-disordered breathing in Brazilian schoolchildren.

OBJECTIVE To identify the prevalence of symptoms of sleep-disordered breathing among children of low socioeconomic status in the South of Brazil. METHODS This was a cross-sectional study, carried out in the city of Uruguaiana, RS, in which specific questionnaire about the symptoms of sleep-disordered breathing was completed by the parents of a sample of schoolchildren aged 9 to 14 years, enrolled on the International Study of Asthma and Allergies in Childhood (ISAAC). RESULTS From the total of 1,011 eligible schoolchildren, 998 questionnaires were completed. The parents of 27.6% of the children reported habitual snoring, while 0.8% reported apnea, 15.5% described daytime mouth breathing and 7.8% complained of excessive daytime sleepiness. Children with excessive daytime sleepiness were at greater risk of habitual snoring (OR = 2.7; 95%CI 1.4-5.4), apnea (OR = 9.9; 95%CI 1.2-51), mouth breathing (OR = 13.1; 95%CI 6.2-27.4) and learning difficulties (OR = 9.9; 95%CI 1.9-51.0). Rhinitis, maternal smoking and positive allergy skin test results were significantly associated with habitual snoring and daytime mouth breathing. CONCLUSIONS There is an elevated prevalence of symptoms of sleep-disordered breathing among children from 9 to 14 in the city of Uruguaiana. The prevalence of habitual snoring was almost twice that described in this age group in other populations. Children with excessive daytime sleepiness appear to have almost 10 times the risk of learning difficulties.
3 essays on corporate governance, firm value and strategy: Evidence from founding family firms

In my dissertation, I examine how the corporate governance structure may affect the firm value in the market for control and affect strategic behavior of the firm. Particularly, I focus on founding family business firms which have been largely understudied in the management literature. In my first essay, I empirically examine how founder management affects takeover premiums in mergers and acquisitions in 2000s. I argue that a founder manager's unique perspective, values, and influence on the process of the firm's strategic decisions may systematically affect the firm value of both the target and acquiring firms in the M&A market. I specifically examine how founder management affects both target firm value and bidder firm value. I suggest that it is not managerial control per se, but rather who the managers are and their priorities and preferences that most influence corporate value in the marker for control. The second essay analyzes the impact of family ownership, management and control on the strategic investment of the firm. I specifically examine the effect of family ownership concentration level, identity of management, and control enhancing mechanisms on R&D investments. I find that there is an inverted U-shape relationship between the ownership concentration levels of family controlled firms and R&D investment. I also find that firms with family shareholder managers are more likely to have higher levels of R&D investment. The third essay examines how family-control and business group affiliation may influence a firm's investment in R&D. I argue that family control and business group affiliation have separate and distinct effects on firms' strategic actions, although the two firm characteristics are often closely intertwined among firms. Our findings show that when a standalone firm is controlled by a family, the firm invests more in R&D. In contrast, I also find that when a family controls a business group, firms that belong to the family-controlled business group will invest less in R&D. My findings suggest that while families may generally have a long-term perspective for their firms, business groups may provide some incentives and opportunities to the families to expropriate the firm value. Degree Type Dissertation Degree Name Doctor of Philosophy (PhD) Graduate Group Management First Advisor Raphael Amit
Can psychosine and galactocerebrosidase activity predict early‐infantile Krabbe's disease presymptomatically?

Krabbe's disease (KD) is a fatal neurodegenerative disorder, with the early‐infantile form (EIKD) defined by onset of symptoms before age 6 months. Early and highly accurate identification of EIKD is required to maximize benefits of hematopoietic stem cell transplantation treatment. This study investigates the potential for accurate prediction of EIKD based on a novel newborn screening (NBS) tool developed from two biomarkers, galactocerebrosidase (GALC) enzyme activity and galactosylsphingosine concentration (psychosine [PSY]). Normative information about PSY and GALC, derived from distinct samples of normal newborns, was used to develop the novel diagnostic tool. Bivariate normal limits (BVNL) were constructed, assuming a multivariate normal distribution of natural logarithms of GALC and PSY of normal newborns. The (lnGALC, lnPSY) points for newborns in various “abnormal groups,” including one group of infants who subsequently suffered EIKD, were plotted on a graph of BVNL. The points for all EIKD patients fell outside of BVNL (100% sensitivity). In a simulation study to compare the false‐positive rate of existing univariate methods of diagnosis with our new BVNL‐based method, we generated 100 million normal newborn data points. All fell within BVNL (i.e., zero false positives), whereas 5,682 false positives were observed when applying a two‐tiered univariate method of the type suggested in the literature. These results suggest that (lnGALC, lnPSY) BVNLs will allow highly accurate prediction of EIKD, whereas two‐tiered univariate approaches will not. Redevelopment of the BVNL based on GALCs and PSYs measured on a common large sample of normal newborns is required for NBS use. © 2016 Wiley Periodicals, Inc.
Adiponectin Stimulates Angiogenesis by Promoting Cross-talk between AMP-activated Protein Kinase and Akt Signaling in Endothelial Cells*

Adiponectin is an adipocyte-specific adipocytokine with anti-atherogenic and anti-diabetic properties. Here, we investigated whether adiponectin regulates angiogenic processes in vitro and in vivo. Adiponectin stimulated the differentiation of human umbilical vein endothelium cells (HUVECs) into capillary-like structures in vitro and functioned as a chemoattractant in migration assays. Adiponectin promoted the phosphorylation of AMP-activated protein kinase (AMPK), protein kinase Akt/protein kinase B, and endothelial nitric oxide synthesis (eNOS) in HUVECs. Transduction with either dominant-negative AMPK or dominant-negative Akt abolished adiponectin-induced eNOS phosphorylation as well as adiponectin-stimulated HUVEC migration and differentiation. Dominant-negative AMPK also inhibited adiponectin-induced Akt phosphorylation, suggesting that AMPK is upstream of Akt. Dominant-negative Akt or the phosphatidylinositol 3-kinase inhibitor LY294002 blocked adiponectin-stimulated Akt and eNOS phosphorylation, migration, and differentiation without altering AMPK phosphorylation. Finally, adiponectin stimulated blood vessel growth in vivo in mouse Matrigel plug implantation and rabbit corneal models of angiogenesis. These data indicate that adiponectin can function to stimulate the new blood vessel growth by promoting cross-talk between AMP-activated protein kinase and Akt signaling within endothelial cells.
Examining the intention to use technology among pre-service teachers: an integration of the Technology Acceptance Model and Theory of Planned Behavior

This study examined pre-service teachers' self-reported intention to use technology. One hundred fifty-seven participants completed a survey questionnaire measuring their responses to six constructs from a research model that integrated the Technology Acceptance Model (TAM) and Theory of Planned Behavior (TPB). Structural equation modeling was used as the main technique for data analysis. This study contributes to the growing interest among researchers in using models to explain users' intention to use technology. The results of this study showed that the TAM constructs were significant in explaining pre-service teachers' intention to use technology. However, the core constructs of the TPB, subjective norm and perceived behavioral control (represented by facilitating conditions in this study) required further examination. Overall, this study indicated that attitude toward computer use had the largest effect on the intention to use technology.
Flower-Visiting Insects and Phenology of Lippia alba (Lamiales: Verbenaceae): Floral Color Changes and Environmental Conditions as Cues for Pollinators

Abstract Lippia alba (Mill.) N.E. Br. ex Britton & P. Wilson (Verbenaceae) is a herbal aromatic shrub with medicinal properties. Natural populations of this species are allogamous and self-incompatible. Therefore, this plant species relies on pollinators to outcross and maintain the genetic variability. Here, we investigated the floral phenology, pollen morphology, the floral visitor entomofauna, and the influence of climatic factors on the frequency of visits in L. alba flowers. The study was conducted at Federal University of Juiz de Fora Plant Experimental Area, southeast Brazil. The flowering of L. alba occurred throughout the whole year. The anthesis is diurnal and lasts 5 d. The nectar guide was visible from the onset of flowering until the third day. Pollen grains were classified as isopolar, oblate spheroidal, three-colporate (rare, four-colporate), surface tectate-perforate, and endoaperture lalongate, with median constriction. Insects from the order Hymenoptera were the most frequent visitors observed, followed by Lepidoptera, Thysanoptera, Diptera, and Hemiptera–Heteroptera. The preference of insects for flowers with nectar guides shows that the color is likely to be an important visual trait to increase the frequency of visits. Moreover, the climate variables temperature, relative humidity, wind speed, and light were important to define the composition of the most frequent floral visitors.