Miracle-dz/UniFAR-FTUs huggingface dataset:
Does graph disclosure bias reduce the cost of equity capital?

Abstract Firms widely use graphs in their financial reports. In this respect, prior research demonstrates that companies use graphs to provide a favourable outlook of performance, suggesting that they try to manage the impression created in users’ perceptions. This study tests whether by means of distorted graphs managers are able to influence users’ decisions in the capital market. By focusing on the effects of distorted graphs on the cost of equity capital, we provide preliminary evidence on one of the possible economic consequences of graph usage. The results of this investigation suggest that graph disclosure bias has a significant, but temporary, effect on the cost of equity. Moreover, our results highlight the important role played by the overall level of disclosure as a conditioning factor in the relationship between graphs and the cost of equity. Consequently, the results of the current study enhance our understanding of the complex interactions that take place in the stock market between information, information intermediaries and investors.
Depressive symptoms and risk of stroke: the Rotterdam Study

Background: Previous studies that have assessed whether the presence of depressive symptoms predisposes to stroke in the general elderly population have been contradictory. Moreover, they did not distinguish between men and women and did not perform psychiatric workups in those with depressive symptoms. This study examines the association between depressive symptoms, depressive disorder and the risk of stroke in the general population. Methods: This prospective population based cohort study included 4424 participants from the third Rotterdam Study Survey (1997–1999) who, at that time, were ⩾61 years of age and free from stroke. Depressive symptoms were assessed using the Centre for Epidemiological Studies Depression Scale (CESD) and considered present if the CESD score was ⩾16. Participants with depressive symptoms had a diagnostic interview for depressive disorder. Follow-up was complete until 1 January 2005. Data were analysed using Cox proportional hazards models with adjustment for relevant confounders. Results: Men with depressive symptoms (n = 73) were at increased risk of stroke (adjusted hazard ratio (HR) 2.17; 95% CI 1.11 to 4.23) and ischaemic stroke (adjusted HR 3.21; 95% CI 1.62 to 6.38). These associations were at least partly attributable to men who reported depressive symptoms but who did not fulfil Diagnostic and Statistical Manual of Mental Disorders (DSM)-IV diagnostic criteria for depressive disorder (n = 32): they had a very high risk of stroke (adjusted HR 2.70; 95% CI 1.15 to 6.33) and ischaemic stroke (adjusted HR 4.01; 95% CI 1.68 to 9.57). In women there was no association between presence of depressive symptoms and risk of stroke. Conclusions: Presence of depressive symptoms is a strong risk factor for stroke in men but not in women.
The Relationship between Dental Anxiety and Reported Dental Treatment Experience in Children Aged 11 to 14 years

Objective: The aim of the study was to determine the influence of reported dental experience on dental anxiety in children aged 11-14 years in Liverpool, United Kingdom. Methods: A total 366 children completed a two-part questionnaire. The first part invited the children to record which dental procedures they had experienced. These procedures were the same as those included in the Modified Child Dental Anxiety Scale, which formed the second part of the questionnaire. The scale consisted of eight questions, which invited the children to rate their anxiety about a variety of dental procedures, including going to the dentist in general, a dental examination, a scale and polish, local anaesthesia, dental restoration, dental extraction, dental treatment under general anaesthesia and dental treatment under inhalation sedation. The Modified Child Dental Anxiety Scale allowed the children to report on a five point Likert scale about how relaxed or worried they were for each of these scenarios. Crosstabulation and t-tests were used to determine the relationship between dental anxiety and reported dental experience. The significance level for the study was set at p<0.05. Results: Females were found to have significantly higher (p<0.05) mean anxiety score (21.87) than males (18.90). Children were significantly less anxious about specific items of dental treatment if they had experienced that particular form of treatment. In the study group of 366 children, 232 (63.4%) reported that they had experienced a dental filling had a mean anxiety score of 2.23, 105 (28.7%) children reported that they had not experienced a dental filling had a mean value for the dental filling item of 2.70. Conclusions: Females were found to be statistically more dentally anxious than males. Children who reported that they had experienced dental treatment and visited the dentist more frequently were significantly less anxious than those who reported infrequent visits.
“Workers Wanted”

Employers play central roles in the social incorporation of immigrant labor but have usually received only scant attention in research literature. From the importation of contract Mexican workers from 1942 to 1964 to the present employment of foreign-born workers in primary and secondary labor markets, employers have played critical functions in recruiting foreign-born labor into the U.S. economy. Directly and indirectly, the U.S. government has supported these functions. The future likely holds a continuation of temporary governmental policies for the recruitment of skilled and unskilled foreign-born labor as well as a continuation of employer attraction to this labor.
The Post-entry Performance of New Small Firms in German Manufacturing Industries

While recent years have witnessed a growing interest in research on market entry by new firms, evidence regarding their postentry performance is scarce. This paper uses longitudinal data for small firms that entered German manufacturing industries between 1979 and 1982 and monitors their performance until 1990. Entrants face a high risk of failure, hazard rates tend to increase during the first years and to decrease afterwards. Decline of employment in a cohort due to exits and shrinking firms is compensated by growing survivors. No clear-cut nexus between start-up size and probability of survival shows up. Copyright 1994 by Blackwell Publishing Ltd.
Evaluation of Irvingia Kernels Marketing in Selected Markets in Akure, Ondo State, Nigeria

This study examined the marketing of Irvingia kernels in selected markets in Akure. Data were collected through primary and secondary sources. One hundred and twenty (120) questionnaires were administered to Irvingia kernel sellers in six selected markets in the area. Thirty-one(31) of the questionnaires were administered to traders in Oja-Oba while 24, 20, 20, 14 and 11 were administered in NEPA, Isikan, Maronu, Isolo and Oluwatuyi markets respectively. The results showed that 70% of the traders were female while male accounted for 30%. The results also revealed that cost price of Ir- vingia kernels and the transport cost were the main determinants of the selling of the product. The level of involvement of the sellers, though had a positive relationship with the selling price, was not significant in determining the selling price because its coefficient, unlike those of cost price and transport cost, was not significant at 5% level. Also the average gross margin per marketer was put at N7, 802.34K, implying that the marketing of the product in the study area was profitable.
Correlation of transcutaneous bilirubinometry (TcB) and total serum bilirubin (TsB) levels after phototherapy

Abstract Aim: To investigate the correlation between transcutaneous bilirubinometry (TcB) and total serum bilirubin (TsB) in jaundiced infants before and after, but not during phototherapy. Methods: This study prospectively investigated the correlation between TcB and TsB in term and near term infants before and after phototherapy. Results: Overall 673 pairs of measurements (TcB and TsB) were performed on 371 infants of ≥35 weeks gestation and with birth weight above 2000 g. Of these 337 sets were from 200 infants who had not been treated with phototherapy (Group 1) and 336 measurements from 171 infants taken between 1 h and 5 d after phototherapy (Group 2). The correlation coefficient between TcB and TsB in the whole cohort was r = 0.72. The correlation was low during the first 8 h after phototherapy (r = 0.56), but thereafter the correlation returned to the range of 0.65–0.8. Using the Sobel test, no significant difference was found between the correlation coefficients at the different time periods, with the possible exception of the difference between 1 and 8 h and 9 and 16 h which was of borderline significance with a p value of 0.06. Conclusion: This study demonstrates good correlation between TcB and TsB by 8 h after phototherapy. This adds validity to community-based screening programs employing TcB measurements plotted on TsB nomograms. Such programs may contribute to prevention of tragic cases of bilirubin-induced neurologic damage.
Auditing, Consulting, And Auditor Independence

The question of whether an auditor should also provide management advisory services (MAS) to an audit client has been extensively debated. On the one hand, the Metcalf Committee Staff Study [1976, pp. 50-52] suggested that supplying both services can create a conflict of interests, particularly when a CPA firm recruits a client's executives and is interested in assuring their success, or when it installs a management information system and subsequently audits the reliability and accuracy of its own work. In these situations, a CPA firm acting as both auditor and consultant may be motivated not to report consulting deficiencies observed during the audit, thereby avoiding erosion of its consulting "brand name. " In general, any situation which increases the probability that an auditor will not truthfully report the results of his audit investigation can be viewed as a threat to independence.1 An opposing view of potential threats to truthful reporting by auditors engaged in MAS was taken by the Cohen Commission [1978, p. 97],
Mast cells in human odontogenic cysts

Abstract Mast cells are granule-containing cells in mucosal and connective tissues that are known to play a central role in allergic and inflammatory responses owing to pro-inflammatory mediators. Cysts in jaws are among the most common expansive, benign and destructive bone lesions; at some stage they are associated with chronic inflammation. Earlier studies have identified mast cells in odontogenic cysts (OC). We investigated the presence and distribution of mast cells and compared their number in different types of radicular cysts (RC), dentigerous cysts (DC) and odontogenic keratocysts (OKC). Ten cases each of RC, DC and OKC diagnosed clinically and histopathologically were selected and stained with 1% toluidine blue. The greatest number of mast cells/mm2 was found in RC. The fewest mast cells/mm2 were found in OKC. The subepithelial zones of all cysts contained more mast cells than the deeper zones.
Nonprofit Cash Holdings

This study examines the determinants and implications of nonprofit cash holdings. Based on agency theory and traditional literature of cash holdings, the author develop and test a number of predictions about nonprofit cash holdings. Several important findings can be highlighted. Nonprofit cash holdings do not seem to be detrimental to nonprofits; in fact, their levels can be explained with traditional precautionary and speculative motives. Additionally, governance and managerial proxies indicate that nonprofit cash holdings may not be a function of agency problems. Consistent with a harmless interpretation of cash holdings, nonprofits with higher excess cash tend to invest more in land, buildings, and equipment than those that hold less cash. Finally, donors do not penalize organizations that hold high levels of cash.
Gerrymandering Decentralization: Political Selection of Grants-Financed Local Jurisdictions

This paper explores a theory of decentralization as a political choice to respond to growing electoral pressures. In this theory, decentralization to local jurisdictions (such as villages, towns or districts) is a political response to increasing political participation among citizens, both in the form of new interest groups and in the form of swing voters who cannot be easily identified and targeted. Politicians select jurisdiction boundaries, both physical and fiscal, to enable themselves to target pivotal voters to win elections, akin to the phenomenon of gerrymandering districts in electoral politics. Under gerrymandered decentralization, multiple small local jurisdictions would be created, financed almost entirely by grants, and grants and local spending would be allocated to target private benefits to political supporters, at the expense of broad public goods. The paper examines available evidence on the characteristics of decentralization in several large countries that is consistent with this theory. The implications for international development assistance are also explored.
Climate Variability in the Origin Countries as a “Push” Factor on Tourist Arrivals in the Philippines

The objective of this paper is to test the impact of climate variability in origin countries as a “push factor” on tourist arrivals, specifically in the Philippines, and to select a suitable proxy to measure climate variability. This paper uses the Southern Oscillation Index (SOI) constructed by the Australian Bureau of Meteorology. Climate variability is strongly linked to the El Niño Southern Oscillation (ENSO) and this link is used by meteorologists to forecast changes in weather globally. SOI is a widely used indicator of the ENSO and its best known extremes are the El Niño (warm phase) and La Niña (cold phase) effects. The study proves to some extent that there is a significant increase in US tourist arrivals in the Philippines when La Niña-like weather conditions prevail in the USA. More importantly, the SOI proved to be a good measure of climate variability.
Academic event recommendation based on research similarity and exploring interaction between authors

In this study, a new academic event recommendation method is proposed. This method analyzes author interactions, academic event attendance records, research related, and textual descriptions from attended academic events to measure interaction strength between authors. Experiments on the DBLP dataset and Wiki Calls for Papers (WikiCFP) showed that the proposed method is helpful in improving the accuracy of a recommendation system in comparison with other methods. In addition, this method can be applied to various recommended tasks such as collaboration recommendation, papers recommendation, etc.
Black economic empowerment progress in the advertising industry in Cape Town: Challenges and benefits

A B S T R A C T Black economic empowerment (BEE) aims to enable black people in South Africa, as legislatively classified, to make a noteworthy contribution to the local economy by irreversibly altering the racial profile of ownership, management echelons and all employment levels of existing and new organisations (SA dti 2004: 4–5). The transformation process in South Africa has been a lengthy and complex one, with the government gradually enacting enabling legislation. The advertising industry has been criticised for its slow empowerment advancement, which led to two parliamentary hearings in the early 2000s to investigate allegations of racism and poor transformation progress. The Association for Communication and Advertising (ACA) has been the main driving force of transformation within the South African advertising industry, but there have been few studies that have effectively investigated transformation and BEE progress within this industry over recent years. Therefore, the main objective of this study was to explore progress made by advertising agencies towards transformation in Cape Town, as well as the challenges and benefits that result from implementing BEE measures. The aforementioned was thoroughly examined by utilising a multiple case study approach and by interviewing the top 12 traditional fullservice advertising agencies in Cape Town.
Explaining variation in wine prices: the battle between objective and sensory attributes revisited

The relative influence of objective and sensory attributes' effects on wine prices have intrigued scholars recently. In this regard, a study by Lecocq and Visser (2006) concluded that the objective attributes were of primary importance. Against this background the purpose of this article is two-fold: (i) to establish that Lecocq and Visser's (2006) conclusion might be premature and (ii) to demonstrate how any study aiming at comparing the relative strengths of different sets of explanatory variables might be carried out more effectively.
Managing upward, downward and outward

It is particularly difficult, but also valuable, to try to estimate the relative contributions of different managerial functions to the outcomes of public programs. Building from a formal treatment of public management and performance, this study explores this research task with empirical analyses of several hundred public organizations and their top managers over a five-year period. Using Moore's distinction among managing upward toward political principals, downward toward organizational agents and outward toward the networked environment, we examine managerial impacts on ten different performance criteria. Findings validate the points that these three functions are distinct, public management has performance-relevant impacts and managerial networking outward can be an important contributor to the achievement of public objectives.
Supply Induced Interharmonic Effects in Wound Rotor and Doubly-Fed Induction Generators

This paper investigates the spectral effects that stator supply harmonics can induce in wound rotor and doubly-fed induction generators. The purpose of this study is to clarify the nature and the origin of the reported significant inter harmonic effects in these machines. To this end, the authors derive analytical expressions that define the spectral signature frequencies of individual supply harmonics in the current and torque signals. The expressions are first validated through comparison with the spectra calculated using a harmonic time-stepped machine model and then by spectral measurements on a laboratory test rig comprising a 30 kW machine excited by a programmable power supply unit. It is shown that the presence of supply harmonics can result in multiple and variable wide-band interharmonic effects in the current and torque signals. Finally, the interharmonic current emissions for the wound rotor and the doubly-fed mode of operation are experimentally quantified using the relevant IEC standard indices.
Primary cilia signaling mediates intraocular pressure sensation

Significance This study defines a cellular mechanism by which primary cilia mediate mechanosensation in intraocular pressure regulation. Changes in pressure are sensed by the interaction of the inositol phosphatase OCRL with transient receptor potential vanilloid 4 (TRPV4), a primary cilia-based calcium channel. Pediatric glaucoma (Lowe) syndrome patient cells with defective OCRL failed to respond to agonists of TRPV4, and targeting of TRPV4 lowered intraocular pressure in vivo. These findings significantly advance the current understanding of how intraocular pressure is regulated. Lowe syndrome is a rare X-linked congenital disease that presents with congenital cataracts and glaucoma, as well as renal and cerebral dysfunction. OCRL, an inositol polyphosphate 5-phosphatase, is mutated in Lowe syndrome. We previously showed that OCRL is involved in vesicular trafficking to the primary cilium. Primary cilia are sensory organelles on the surface of eukaryotic cells that mediate mechanotransduction in the kidney, brain, and bone. However, their potential role in the trabecular meshwork (TM) in the eye, which regulates intraocular pressure, is unknown. Here, we show that TM cells, which are defective in glaucoma, have primary cilia that are critical for response to pressure changes. Primary cilia in TM cells shorten in response to fluid flow and elevated hydrostatic pressure, and promote increased transcription of TNF-α, TGF-β, and GLI1 genes. Furthermore, OCRL is found to be required for primary cilia to respond to pressure stimulation. The interaction of OCRL with transient receptor potential vanilloid 4 (TRPV4), a ciliary mechanosensory channel, suggests that OCRL may act through regulation of this channel. A novel disease-causing OCRL allele prevents TRPV4-mediated calcium signaling. In addition, TRPV4 agonist GSK 1016790A treatment reduced intraocular pressure in mice; TRPV4 knockout animals exhibited elevated intraocular pressure and shortened cilia. Thus, mechanotransduction by primary cilia in TM cells is implicated in how the eye senses pressure changes and highlights OCRL and TRPV4 as attractive therapeutic targets for the treatment of glaucoma. Implications of OCRL and TRPV4 in primary cilia function may also shed light on mechanosensation in other organ systems.
Momentum in the Colombian Stock Market

ABSTRACT This article analyzes performance of momentum portfolios under different settings and in terms of raw and risk-adjusted returns after the local stock exchanges in Colombia merged in 2001. We found little evidence of significant momentum returns in the post-merger period. Zero risk-adjusted returns remained after estimating two pricing models. Similar results held in a pre-financial crisis period, considering a higher data frequency or a different number of portfolios. We attribute our findings to increased access to issuers and investors and greater information dissemination in the post-merger period, which overall have made profiting from studying historical price patterns more difficult.
DO ABCs GET MORE CITATIONS THAN XYZs

type="main" xml:id="ecin12125-abs-0001"> Using a sample of U.S.-based scientific journal articles, I examine the relationship between author surname initials and paper citations, finding that the papers with first authors whose surname initials appear earlier in the alphabet get more citations, and that this effect does not exist for non-first authors. Further analysis shows that the alphabetical order effect is stronger in those fields with longer reference lists, and that such alphabetical bias exists among citations by others and not for self-citations. In addition, estimates also reveal that the alphabetical order effect is stronger when the length of reference lists in citing papers is longer. These findings suggest that the order in reference lists plays an important role in the alphabetical bias. (JEL D0, O3, Z1)
Diversification, Corporate Governance and Firm Value in Small Markets: Evidence from New Zealand

type="main" xml:id="acfi12069-abs-0001"> We find that diversified firms in New Zealand are associated with a value discount of 19–42 per cent relative to single-segment (undiversified) firms. Although several competing explanations have been offered in the literature, we find that the strength of corporate governance explains between 15–21 per cent of this discount. Specifically, board size, busyness of directors, CEO ownership and whether or not compensation of directors includes equity-based components collectively explain a large part of the reported discount. Our results from companies trading in New Zealand complement recent findings in the US by not only confirming the existence of a diversification discount but also emphasizing the role of poor governance in destroying shareholder wealth by pursuing a value-destroying corporate strategy. All our results hold after controlling for potential endogeneity in the decision to diversify and the choice of corporate governance structure by employing two-way fixed-effects and dynamic-panel generalized method of moments regression techniques.