Miracle-dz/UniFAR-FTUs huggingface dataset:
La fonction R&D et la latitude managériale : une analyse théorique *

The R&D function presents virtues well-known for their creation of value as well as a source of manipulation of the rent which ends up to be favourable to the leaders and prejudicial to some stakeholders. This proposition is particularly sustainable because in the firms which invest much in R&D, the traditional means used to control and give incentives to leaders are particularly reduced. Some empirical studies, with different aims, tend to demonstrate that investment in R&D field is an uncontrolled decision for the top management.
Option Listing, Information Production and the Stock Price Response to Earnings Announcements

This paper addresses the issue of whether investors produce more information on firms that have listed stock options than on similar firms that do not have options and, if so, whether this additional information translates into a smaller stock-price reaction to releases of public information such as earnings announcements. After correcting for factors previously found to explain changes in two indicators of investor interest, analyst attention and institutional ownership, we find that firms with listed options exhibit significantly higher average levels of each of these variables than firms without listed options. Prior results regarding this issue are limited and contradictory. We also find, contrary to previous research, that this additional information production does not lead to a smaller price reaction to earnings announcements. The remainder of the introduction discusses prior research as well as the motivation for this study.
Social entrepreneurship and social business : an introduction and discussion with case studies

The Field: Background, Characteristics, Definitions, Drivers, Challenges The People: Personality of Social Entrepreneurs, Human Resource Management, Volunteer Motivation, Collaborations and Partnerships The Business: Business Models, Marketing, Financing, Performance Measurement, Scaling Strategies The Market: Social Entrepreneurship in the Market System, Impact, Critical Reflections
Product Market Competition Shocks, Firm Performance, and Forced CEO Turnover

We examine the effect of competition shocks induced by major industry-level tariff cuts on forced CEO turnover. Both the likelihood of forced CEO turnover and its sensitivity to performance increase. These effects are stronger for firms exposed to greater predation risk and with products more similar to those of other firms. CEOs are more likely to be forced out in weak governance firms; however, in good governance firms, CEOs are offered higher incentive pay. New outside CEOs receive higher incentive pay and come from firms with lower cost structures and higher asset sales. Performance and productivity improve after forced turnover.Received November 27, 2014; editorial decision July 18, 2017 by Editor David Denis. Authors have furnished an Internet Appendix, which is available on the Oxford University Press Web site next to the link to the final published paper online.
A Local or a Foreign Currency Loan? Evidence on the Role of Loan Characteristics, Preferences of Households and the Effect of Foreign Banks

Using data from the OeNB Euro Survey in CESEE, which covers both EU Member States and (potential) candidate countries, we analyze how the currency of existing loans to households relates to (1) loan characteristics (loan maturity and purpose), (2) households’ preferences regarding the loan currency and (3) bank ownership (domestic or foreign). Our findings support the existing literature’s view that both demand- and supply-side factors have an influence on foreign currency lending. In the period under investigation, foreign currency loans were sought after by households in particular for long-term borrowing. Likewise, banks were more likely to grant large and long-term loans in foreign currency. On a descriptive level, we find that in Croatia and Hungary, foreign-owned banks had a higher share of foreign currency loans than local currency loans – in the remaining seven countries, however, the share of foreign currency loans is similar to or lower than that of local currency loans. In regression models we account for the possibility that foreign-owned and domestically-owned banks may differ in that they have issued loans with different characteristics and in that they have customers with different credit ratings and different preferences. Holding these factors constant reveals that, on average, foreign-owned banks did not issue more foreign currency loans – neither consumption loans nor mortgages – than domestically-owned banks.
Pengaruh Kinerja Keuangan Terhadap Return Saham Pada Perusahaan Manufaktur Yang Terdaftar Di Bursa Efek Indonesia

Abstract This study was conducted to analyze the effect of the financial performance on stock returns on companies listed in the Indonesia Stock Exchange (BEI) 2011-2013. Measurement of financial performance used in this research is by using financial ratio is Current Ratio (CR), Debt to Equity Ratio (DER), Return on Assets (ROA) and Return On Equity (ROE) to predict stock returns on companies listed in the Indonesia Stock Exchange (BEI) 2011-2013. This study population used is manufacturing companies listed in Indonesia Stock Exchange in 2011-2013. The sample used in this study is done by using purposive sampling method based on specific criteria include: companies listed on the Stock Exchange in 2011-2013, the company provides a complete financial statement data from the years 2011-2013, and the company has the necessary financial reporting data on this research. The data used in the capture of publication ICMD 2014 and the official website of the Stock Exchange (www.idx.co.id). The samples used in this study as many as 50 companies and using regression analysis techniques. Results of the research that has been done by using multiple regression analysis showed that partially shows the Current Ratio (CR) and Debt to Equity Ratio (DER) had no significant effect on stock returns, while the Return on Assets (ROA) and Return On Equity (ROE) have a significant influence on stock return of manufacturing companies listed in Indonesia Stock Exchange (BEI) 2011-2013. The results together (simultaneously) which consists of financial ratios Current Ratio (CR), Debt to Equity Ratio (DER), Return on Assets (ROA) and Return On Equity (ROE) have a significant influence on stock returns listed on the Indonesia Stock Exchange (BEI) 2011-2013.
Loan Loss Provision: Some Empirical Evidence for Italian Banks

This paper uses data from a panel of more than 400 Italian banks for the period 2001 – 2012 to examine the main determinants of loan loss provision (LLP), which are classified as either discretionary (income smoothing, capital management, signalling) or non-discretionary (related to the business cycle). The results suggest that LLP in Italian banks is driven mainly by non-discretionary components, especially during the recession of 2008-2012, and is consistent with a countercyclical behavior of LLP. Further, it is generally less pro–cyclical (although not during the recent economic crisis) in the case of local banks: since their loans are more collateralised, their behaviour is more strongly affected by supervisory activity, their initial coverage ratio being lower than for other banks.
Ethics and The Pharmaceutical Industry

Objective: Relationships between the pharmaceutical industry and the medical profession enhance the potential for physicians to become involved in conflicts of interest. Whether or not these rise to a level that violates standards of medical ethics depends on the degree to which they detract from the quality of health care and its cost, the objectivity of research, and the profession's integrity. This paper explores those issues from two perspectives – the micro-level of the medical profession and the macro-level of society. Conclusions: Practices and policies that affect varied aspects of the interaction between the pharmaceutical industry and the medical profession – such as education, research and marketing – are discussed. The reader is asked to reflect on the ethics of issues raised; the author offers suggestions for mitigating conflicts of interest and, in turn, the potential for unethical medical care.
Implicit Motive Profile of Treatment-Seeking Opiate Users: High Affiliation and Low Achievement

Abstract Research on basic human motives (achievement, affiliation, and power) encoded at the emotional level recently returned to the forefront of scientific research. To date, there are only a few studies on the pattern of implicit motives of substance users, so the present study examined opiate users participating in methadone maintenance treatment (N = 80) along these dimensions, comparing them to 40 non-substance users. Participants were asked to create stories on the basis of the pictures of the Thematic Apperception Test. The stories were analyzed using the content analysis method of David Winter (1991). Like other substance user groups, opiate-dependent persons used less achievement and more affiliation notions in creating stories, while there was no significant difference between the two groups concerning power notions. The results proved to be independent of the presence of anxiety and depression symptoms, despite substance users reporting higher levels of these, and suggest that motivational factors are worth considering in treatment planning.
Estimation of the amount and tissue distribution of rat Thy‐1.1 antigen

The distribution and amount of Thy‐1.1 antigen expressed in rat and mouse tissues have been studied. When anti‐Thy‐1.1 antisera were absorbed with various tissues and assayed by cytotoxicity or radioactive binding assays, it was found that antigen was expressed in similar amounts on thymocytes and brain of both species. Lymphocytic leukemia cells from PVG/c rats also expressed as much Thy‐1.1 as rat thymocytes. In contrast, Thy‐1.1 was only detected in very small amounts on rat lymph node cells or thoracic duct lymphocytes; the level was 20‐fold less than the AKR mouse equivalent. Rat spleen cells had larger amounts than other peripheral rat lymphocytes, and had only 2–3 times less antigen than AKR spleen cells.
Editorial IFRS application in Central and South-Eastern European countries

The purpose of this paper is to introduce and reflect on the International Financial Reporting Standards (IFRS) application in Central and South-Eastern European (CSEE) countries, by providing an overview of IFRS research conducted in this geographical area, put in the context of the countries included. This special issue thus comprises the IFRS experience of eight countries: the Czech Republic, Estonia, Moldova, Poland, Romania, Slovenia, Turkey and Ukraine. Accounting research in these countries is in an incipient phase, and there is generally little information available in the international literature about accounting reforms and the manner in which international standards are applied, with a few exceptions.
Examining the Impact of Credit Access on Small Firm Survivability

This paper examines the effects of credit availability on small firm survivability over the period 2004 to 2008 for non-publicly traded small enterprises. Using data from the 2003 Survey of Small Business Finances, we develop failure prediction models for a sample of small firms that were confirmed to have been in business as of December 2003, with particular attention to the impact of credit constraints. We find that credit constrained firms were significantly more likely to go out of business than non constrained firms. Moreover, credit constraint and credit access variables appear to be among the most important factors predicting which small U.S. firms went out of business during the 2004-2008 period even though an extensive set of firm, owner, and market characteristics were also included as explanatory factors.
EMPLOYEE COMPENSATION AND JOB SATISFACTION ON DAIRY FARMS IN THE NORTHEAST

Economies of size have translated into much larger herd sizes and, therefore, employee bases on dairy farms throughout the Northeast. These non-family employees present managerial issues many farm managers are not accustomed to. This research quantifies and illustrates the internal pay structure and enumerates that current employee satisfaction levels present on the farms of members of the Northeast Dairy Producers Association (NEDPA).
Essays on Forward Trading, Environmental Quality and Investor Behavior, and the WTA-WTP Disparity

This dissertation consists of three essays that study (i) collusion in forward markets, (ii) investor behavior in response to ecological disasters, and (iii) the willingness to accept willingness to pay disparity in the presence of uncertainty. Chapter 1 reports the results of a laboratory experiment that examines the strategic effect of forward contracts on market power in infinitely repeated duopolies. Two competing effects motivate the experimental design. Allaz and Vila (1993) argue that forward markets act like additional competitors in that they increase quantity competition among firms. Conversely, Liski and Montero (2006) argue that forward contracting can facilitate collusive outcomes by enabling firms to soften competition. The experiment provides a first simultaneous test of these rival effects. Contrary to previous experimental studies, the results do not support the quantity-competition effect. Further, the findings provide evidence in support of the collusive hypothesis. Chapter 2 analyzes investor behavior in response to ecological disasters. Specifically, I test for the presence of “green” preferences in stock markets using variation in abnormal returns of publicly traded companies that differ in their environmental footprint. I employ Newsweek’s detailed green rankings of the 500 largest U.S. firms as an identification strategy and I find that cumulative abnormal returns following an ecological disaster significantly differ based on companies’ environmental performance scores. Chapter 3 reports the results of a laboratory experiment that tests the robustness of the willingness to accept willingness to pay disparity for private good and public good lotteries in the presence of uncertainty. Using an incentive compatible elicitation mechanism, the experiment explores the existence of the disparity and its interdepen-
MERGERS AND ACQUISITIONS: AN UPDATE AND APPRAISAL

The underperformance of Mergers & Acquisitions (M&As) has been a significant cause for concern since the 1960s (Kitching, 1967) and has provoked continuing research attention. In an earlier volume of this publication, Hogan and Overmeyer-Day (1994) presented a comprehensive review of the current literature relating to the psychology of M&As. The literature they cited was drawn predominantly from US sources and reflected the concentration of interest and activity in this field at that time. In this review the literature was usefully conceptualized as falling into four main research categories which in broad terms considered inputs, process, impact on employees, and performance outcomes:
Mycobacterium tuberculosis inducing disseminated intravascular coagulation

Summary Disseminated intravascular coagulation (DIC) can develop infrequently in patients with tuberculosis and has a very high mortality rate. We conducted a retrospective study to evaluate the incidence of tuberculosis-induced DIC and to investigate the clinical manifestation, outcome, and prognostic factors of such patients. From January 2002 to December 2003, all culture-proven tuberculosis patients who developed DIC before starting anti-tuberculosis treatments were selected for this study. Patients who had other clinical conditions or were infected by other pathogens that may have been responsible for their DIC were excluded. Survival analysis was performed for each variable with possible prognostic significance. Our results showed that 27 (3.2%) out of the 833 patients with culture-proven tuberculosis had tuberculosis-induced DIC with a mortality rate of 63.0%. The most common clinical manifestations were fever (63.0%) and multiple patches of pulmonary consolidation (59.3%). Seven (25.9%) patients had disseminated tuberculosis. Twelve (44.4%) developed acute respiratory distress syndrome and three (11.1%) were associated with hemophagocytosis. Twenty-four (88.9%) patients had findings that were unusual for an acute bacterial infection, such as positive acid-fast smear, miliary pulmonary lesions, lymphocytotic exudative pleural effusion, and mediastinal lymphadenopathy. Early anti-tuberculosis treatment significantly improved survival. In conclusion, tuberculosis can cause DIC. Patients with non-miliary, non-disseminated tuberculosis could also develop the rare clinical manifestation. Since the prognosis was very poor in patients not treated at an early stage, a high index of suspicion is required, especially in those with clinical findings suggestive of tuberculosis.
A study on employee's intention to stay in public companies in Kedah

Without valuable employees, an organization cannot generate revenue and prosper. Retention is the most important target for the organization's Human Resources (HR) departments to achieve, and they need to explore and be aware of the real reasons, not simply people's perception, because sometiomes the high salary or pleasant working condition annot promise employees to stay in the organization. So there are more other factors that influence people's intention to stay in the organization. If the industry suffers less employee turnover, the intention of employees to stay in certain industry is higher than other industry, which indicates that this industry is healthier than others. The research problem carried out in this study is to observe the impact of 5 HRM practices (compensation, work life balance, organizational commitment, and career opportunities and supervisor support) and employees' intention to stay in public companies, Kedah Malaysia. This research will investigate the main factor which causes employee retention and why employees are preferred to stay in the public sector. The results indicate that the factors positively correlated with employee's intention to stay. The findings and recommendations were also addressed.
Glucosylceramide Synthases, a Gene Family Responsible for the Biosynthesis of Glucosphingolipids in Animals, Plants, and Fungi*

Glucosylceramides are membrane lipids in most eukaryotic organisms and in a few bacteria. The physiological functions of these glycolipids have only been documented in mammalian cells, whereas very little information is available of their roles in plants, fungi, and bacteria. In an attempt to establish appropriate experimental systems to study glucosylceramide functions in these organisms, we performed a systematic functional analysis of a glycosyltransferase gene family with members of animal, plant, fungal, and bacterial origin. Deletion of such putative glycosyltransferase genes in Candida albicans and Pichia pastorisresulted in the complete loss of glucosylceramides. When the corresponding knock-out strains were used as host cells for homologous or heterologous expression of candidate glycosyltransferase genes, five novel glucosylceramide synthase (UDP-glucose:ceramide glucosyltransferase) genes were identified from the plantGossypium arboreum (cotton), the nematodeCaenorhabditis elegans, and the fungi Magnaporthe grisea, Candida albicans, and P. pastoris. The glycosyltransferase gene expressions led to the biosynthesis of different molecular species of glucosylceramides that contained either C18 or very long chain fatty acids. The latter are usually channeled exclusively into inositol-containing sphingolipids known from Saccharomyces cerevisiae and other yeasts. Implications for the biosynthesis, transport, and function of sphingolipids will be discussed.
The Last American Shoe Manufacturers: Changing the Method of Pay to Survive Foreign Competition

During the last 150 years, shoe manufacturing in the U.S. has gone from one of the largest employers in manufacturing to one of the smallest, yet some firms have survived and remained profitable. This study examines the role of changing methods of compensation in shoe manufacturing, in a sector that faces severe import competition. During the 1970s - 1990s, most firms in the industry shifted from piece rate to time rate modes of compensation as a strategy for survival. Using longitudinal establishment data files, we find wide variation in labor input usage and in labor's share of sales among establishments in the sector, with establishments having high labor shares of cost disproportionately likely to close down over time; and a widening range of labor input usage in production associated with the widening U.S. wage structure. Using data for a simple manufacturer, methods of pay was part of a move toward continuous flow methods of production, with job rotation and rapid changes in work tasks to introduce new styles. The switch reduced productivity, but brought offsetting cost savings in the form of lower workers' compensation insurance costs, smaller inventories, lower monitoring costs, and lower hourly wages, and made it easier for the firm to introduce new shoe styles. On net, the shirt to time rates lowered labor's share of cost at the company and increased the economic surplus available to the firm.
Recession of the inferior rectus muscle under topical anesthesia in thyroid ophthalmopathy.

PURPOSE To evaluate the results of inferior rectus muscle recession with adjustable loop suture under topical anesthesia for vertical deviations secondary to thyroid ophthalmopathy. PATIENTS AND METHODS Five patients with a vertical deviation greater than 15 PD and severe limitation of upgaze were enrolled in the study. Before proceeding with corrective strabismus surgery, we waited at least 6 months after stabilization of ocular alignment and normalization of thyroid chemistries. All patients underwent inferior rectus muscle recession with adjustable loop suture under topical anesthesia. The postsurgical follow-up was at least 12 months. RESULTS Preoperatively, the mean vertical deviation was 24 PD. At 1 year postoperatively, it had decreased to 2.4 PD. Two patients were orthotropic and 3 patients had residual hypotropia ranging from 2 to 6 PD. The limitation of upgaze was relieved significantly in the postoperative period. Two patients had minimal limitation of downgaze, but none complained of diplopia in the primary or reading positions. Surgery did not trigger a flare-up of orbital inflammation in the early postoperative period. CONCLUSION We advocate that recession of the inferior rectus muscle with adjustable loop suture under topical anesthesia is safe and effective in patients with thyroid ophthalmopathy.