Miracle-dz/UniFAR-FTUs huggingface dataset:
Value-creation through spin-offs: Australian evidence

We examine announcement effects and the long-run stock performance associated with spin-offs for companies listed on the Australian Securities Exchange. The 3-day announcement effect is a significantly positive 2.93%. Contrary to previous studies, we find no differences between ex post completed and non-completed spin-off announcements. The abnormal returns do not seem to be related to factors found significant in previous studies, such as an increase in industrial or geographical focus, information asymmetry, and the amount of bank debt of the parent company. There is some evidence that Australian spin-offs are associated with a positive long-run excess stock performance for up to 24 months after the spin-off. This effect is mostly driven by focus-increasing spin-offs.
Interest Rates Under Falling Stars

Macro-finance theory implies that trend inflation and the equilibrium real interest rate are fundamental determinants of the yield curve. However, empirical models of the term structure of interest rates generally assume that these fundamentals are constant. We show that accounting for time variation in these underlying long-run trends is crucial for understanding the dynamics of Treasury yields and predicting excess bond returns. We introduce a new arbitrage-free model that captures the key role that long-run trends play in determining interest rates. The model also provides new, more plausible estimates of the term premium and accurate out-of-sample yield forecasts. (JEL E31, E43, E47)
O VI Asymmetry and an Accelerated Outflow in an Obscured Seyfert: FUSE and HST STIS Spectroscopy of Mrk 533

We present far-ultraviolet spectra of the Seyfert 2 galaxy Mrk 533 obtained with FUSE. These spectra show narrow asymmetrical O VI λλ1032,1038 emission lines with stronger wings shortward of the peak wavelength, but the degree of asymmetry of these wings in velocity is much lower than that of the wings of the lines of lower ionization. In the combined O VI profile there are marginal indications of local absorptions in the outflow. The C III λ977 line is seen weakly with a similar profile, but with very low signal-to-noise ratio (S/N). These FUV spectra are among the first for a Seyfert of type 2, i.e., a purportedly obscured Seyfert. The HST STIS spectral image of Mrk 533 allows delineation of the various components of the outflow, and we infer that the outflow is accelerated. We discuss the results in terms of nuclear geometry and kinematics.
A Framework for Event Classification from Video Sequences using Bayesian Neural Network

Due to immense growth happened in multimedia field, research with videos and images have been received significant attention among the researchers. The automatic detection of the events presented in the video content may provide more useful information to the target audience. The motivation behind this approach is to design and develop a system for video event classification through video content analysis method using Bayesian neural network. Initially, the background from the video frames is estimated which is then segmented. Subsequently, features are extracted from the tracked objects and are classified to normal or abnormal event by applying Bayesian neural network classifier.UCSD Anomaly Detection Datasets is used for implementation. The performance of the proposed system is validated through the ROC curves and classification accuracy. From the comparative analysis made, the proposed technique obtained better results.
Pathways to Energy Transition: A Faceted Taxonomy

Abstract The article deals with the public perception of energy transition pathways, that is, of strategies towards sustainable ways of energy use. Implementing sustainable pathways poses a major challenge for organizations and society. Using a facet theoretical approach, we investigate the structure of people’s mental models of such pathways. Three facets are defined capturing the conceptual structure of transition pathways. Facet A (Level) distinguishes three elements: individual behaviors, societal actions, and technologies. Facet B (Type) distinguishes energy efficiency from curtailment pathways. Facet C (Impact domain) distinguishes five domains of potential impact of an energy transition pathway: economy, community, human health, nature, and life quality. A computer-administered survey with items derived from the facet design was administered to a student sample (N = 106). A multidimensional scaling analysis yields regional regularities for Facets A and B. For Facet A polar regions can be clearly distinguished according to the facet elements. Facet B shows regions exhibiting a modular structure with curtailment pathways located in the center and efficiency pathways in the periphery. Facet C shows a less clear pattern, showing the two elements economy and nature at opposing ends of an axial structure. Implications for the communication and management of sustainable energy transitions in society and organizations are discussed.
Effects of Vocabulary Size on Anticipatory Sentence Processing in Korean Learners of English

The present study investigates whether and the extent to which nonnative speakers of English exhibit anticipatory processing of English sentences in comparison to native speakers (Borovsky et al., 2012), using a looking-while-listening paradigm. We also examine the relationship between the anticipatory behavior and vocabulary knowledge of English as a second language. College students with high-intermediate English proficiency participated in an eye-tracking experiment and an offline measurement of vocabulary knowledge. The results revealed that the participants anticipate upcoming words, thereby incrementally processing English sentences as native speakers do. In doing so, they also actively make use of combinatory information of semantic cues and real-world knowledge, having advantage of a larger L2 vocabulary size.
Financial Statement Anomalies in the Bond Market

We investigate the association between bond returns and 32 financial statement variables. Our findings show that 17 of the 32 financial statement measures we examined are significantly related to future bond returns. Evidence of inefficiency is more pronounced when institutional investors are less active and when there is more uncertainty about the creditworthiness of the issuer. We contribute to the literature by significantly expanding the number of anomalies analyzed and by providing practitioners with actionable guidance on which trading strategies may be profitable in the bond market. Disclosure: The authors report no conflicts of interest. Authors’ Note The data used in this study are available from public sources identified in the article. Editor’s Note Submitted 16 April 2018 Accepted 15 January 2019 by Stephen J. Brown
Practice Makes Practice A Critical Study Of Learning To Teach

Thank you very much for reading practice makes practice a critical study of learning to teach. Maybe you have knowledge that, people have search numerous times for their favorite books like this practice makes practice a critical study of learning to teach, but end up in malicious downloads. Rather than enjoying a good book with a cup of coffee in the afternoon, instead they juggled with some infectious bugs inside their laptop.
Generation of Turbulence in Colliding Reconnection Jets

The collision of magnetic reconnection jets is studied by means of a three-dimensional numerical simulation at the kinetic scale, in the presence of a strong guide field. We show that turbulence develops due to the collision of jets, producing several current sheets in reconnection outflows, aligned with the guide field direction. The turbulence is mainly two-dimensional, with stronger gradients in the plane perpendicular to the guide field and low wave-like activity in the parallel direction. First, we provide a numerical method to isolate the central turbulent region. Second, we analyze the spatial second-order structure function and prove that turbulence is confined in this region. Finally, we compute local magnetic and electric frequency spectra, finding a trend in the subion range that differs from typical cases for which the Taylor hypothesis is valid, as well as wave activity in the range between ion and electron cyclotron frequencies. Our results are relevant to understand observed collisions of reconnection jets in space plasmas.
Watermarking for alternative requirements

Watermarking is a primitive robustly hiding binary messages in host media. However, some applications needs adaptations of this basic primitive. The aim of this chapter is to detail such possible enrichments. However, this chapter is not only a list of less classical watermarking applications. The relationship between cryptography and watermarking is the base supporting this chapter. Cryptography and watermarking tackles the same issue: computer security (but note that watermarking doesn't only target secure applications). The presented enrichments are largely inspired by known functionalities of cryptography. The differences are sometimes quite subtle but important. It would not make sense that watermarking only mimics functionalities of cryptography whose theoretical and practical security levels are assessed for decades. Therefore, this chapter focuses on the interactions between these two technologies. All cryptographic references in this chapter are taken from Menezes et al. (1996). This chapter makes an overview of four different applications: authentication, fingerprinting, watermarking protocols (embedding and detection), and asymmetric watermarking.
The Causality between Human Capital, Energy Consumption, CO2 Emissions, and Economic Growth: Empirical Evidence from Indonesia

This study to investigate the causality between human capital, energy consumption, CO2 emissions, and economic growth in Indonesia. The data used world development indicator has obtained from the World Bank database during 1985-2017. The analysis method used vector error correction model. The finding of this study, first, there is the validity of long-run balance causality exists only for the model of human capital nor energy consumption; second, neither CO2 emissions per capita nor real gross domestic product (GDP) per capita cause human capital in the long-run causality nor short-run; Third, there is no causal evidence from the human capital, CO2 emission per capita, and real GDP per capita to consumption energy per capita, but in the short-run, there is causal evidence between CO2 emission and energy consumption; fourth, there is no causal evidence from the human capital, consumption energy per capita, and real GDP per capita toward CO2 emission per capita, but human capital, consumption energy, and economic growth cause CO2 emission in the short-run; and the last finding, there is no causal evidence from the human capital, consumption energy per capita, and CO2 emission per capita to real GDP per capita, neither in the long-run causality and short-run.
Interest rates, inflation, and exchange rates in fragile EMEs: A fresh look at the long-run interrelationships

ABSTRACT This study attempts to establish the possible existence of the long-run interrelationship between interest rates, inflation, and exchange rates in five EMEs (Brazil, India, Indonesia, South Africa, and Turkey), what is so-called by Morgan Stanley ‘Fragile Five’. To do so, we utilize Li and Lee's [2010. “ADL Tests for Threshold Cointegration. ” Journal of Time Series Analysis 31 (4): 241–254. ] Autoregressive Distributed Lag test for threshold cointegration and apply it to the sample country's time-series data from 2013:m1 to 2018:m12. Overall, our results are threefold: First, there seems to be a long-run positive relationship between actual rates of inflation and nominal interest rates supporting the validity of the ex-post Fisher hypothesis for all the sample countries. Second, the results support the presence of a cointegrating relationship between interest rates and exchange rates for Brazil, India, and Turkey but not for Indonesia and South Africa. Lastly, without exception, exchange rates and actual rates of inflation in all the sample countries tend to co-move in the long-run, implying that the depreciation of their currencies creates an inflationary effect on domestic prices through raising the prices of imported goods. The results above are widely consistent with both theoretical expectations and the relevant empirical literature.
Shifting landscapes: decoupled urban irrigation and greenness patterns during severe drought

Urban outdoor water conservation and efficiency offer high potential for demand-side management, but irrigation, greenness, and climate interlinks must be better understood to design optimal policies. To identify paired transitions during drought, we matched parcel-level water use data from smart, dedicated irrigation meters with high-spatial resolution, multispectral aerial imagery. We examined changes across 72 non-residential parcels using potable or recycled water for large landscape irrigation over four biennial summers (2010, 2012, 2014, and 2016) that encompassed a historic drought in California. We found that despite little change in irrigation levels during the first few years of the drought, parcel greenness deteriorated. Between summers 2010 and 2014, average parcel greenness decreased −61% for potable water irrigators and −56% for recycled water irrigators, providing evidence that vegetation could not reach its vigor from wetter, cooler years as the drought intensified with abnormally high temperatures. Between summers 2014–2016 as drought severity lessened, irrigation rates decreased significantly in line with high drought saliency, but greenness rebounded ubiquitously, on average +110% for potable water irrigators and +62% for recycled water irrigators, demonstrating climate-driven vegetation recovery as evaporation and plant evapotranspiration rates decreased. Transitions were similar for customers with both potable and recycled water; vegetation changes were dominated by the overarching climatic regime. As irrigation cannot always overcome drought conditions, which will become more severe under climate change, to maintain vegetation health, utilities and urban planners should consider the tradeoffs between providing green spaces and water scarcity. This includes evaluating the roles of climate-appropriate landscaping and adaptive reallocation of potable and recycled water resources to enhance water security. By addressing emerging themes in urban water management through analysis of data from forthcoming water metering and aerial imagery technologies, this research provides a unique perspective on water use, greenness, and drought linkages.
From Walras’ auctioneer to continuous time double auctions: a general dynamic theory of supply and demand

In standard Walrasian auctions, the price of a good is defined as the point where the supply and demand curves intersect. Since both curves are generically regular, the response to small perturbations is linearly small. However, a crucial ingredient is absent of the theory, namely transactions themselves. What happens after they occur? To answer the question, we develop a dynamic theory for supply and demand based on agents with heterogeneous beliefs. When the inter-auction time is infinitely long, the Walrasian mechanism is recovered. When transactions are allowed to happen in continuous time, a peculiar property emerges: close to the price, supply and demand vanish quadratically, which we empirically confirm on the Bitcoin. This explains why price impact in financial markets is universally observed to behave as the square root of the excess volume. The consequences are important, as they imply that the very fact of clearing the market makes prices hypersensitive to small fluctuations.
Gauging the Impact of Payment System Innovations on Financial Intermediation: Novel Empirical Evidence from Indonesia

In this article, the relationship between innovations in the payment systems and financial intermediation is explored. By focusing on excess reserves and currency demand we provide evidence on the extant transmission mechanism. In this direction, a generalised method of moments (GMM) and vector error correction model (VECM) techniques are applied to a data set collated for Indonesia. We find that financial intermediation is affected by currency demand while we observe a limited role of excess reserves affecting financial intermediation. Credit card payments are found to have a statistically significant effect on currency demand, whereas debit card payments only influence financial intermediation in the long run. In addition, the real-time gross settlement (RTGS) exerts an upward pressure on excess reserves. The findings are of great importance as they provide support to policies that favour payment migration to an electronic platform, particularly that of card-based payment systems. JEL Classification: E42, E58, N25, G21
Advances in robust and adaptive optimization : algorithms, software, and insights

Optimization in the presence of uncertainty is at the heart of operations research. There are many approaches to modeling the nature of this uncertainty, but this thesis focuses on developing new algorithms, software, and insights for an approach that has risen in popularity over the last 15 years: robust optimization (RO), and its extension to decision making across time, adaptive optimization (AO). In the first chapter, we perform a computational study of two approaches for solving RO problems: “reformulation” and “cutting planes”. Our results provide useful evidence for what types of problems each method excels in. In the second chapter, we present and analyze a new algorithm for multistage AO problems with both integer and continuous recourse decisions. The algorithm operates by iteratively partitioning the problem’s uncertainty set, using the approximate solution at each iteration. We show that it quickly produces high-quality solutions. In the third chapter, we propose an AO approach to a general version of the process flexibility design problem, whereby we must decide which factories produce which products. We demonstrate significant savings for the price of flexibility versus simple but popular designs in the literature. In the fourth chapter, we describe computationally practical methods for solving problems with “relative” RO objective functions. We use combinations of absolute and relative worst-case objective functions to find “Pareto-efficient” solutions that combine aspects of both. We demonstrate through three in-depth case studies that these solutions are intuitive and perform well in simulation. In the fifth chapter, we describe JuMPeR, a software package for modeling RO and AO problems that builds on the JuMP modeling language. It supports many features including automatic reformulation, cutting plane generation, linear decision rules, and general data-driven uncertainty sets. Thesis Supervisor: Dimitris Bertsimas Title: Boeing Professor of Operations Research
Mental Representations A Dual Coding Approach

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Foreign Language Vocabulary Retention: Investigating the Role of T-Coding Method in Comparison with Rote Rehearsal Learning

English as Foreign Language (EFL) learners frequently encounter difficulties in applying disparate strategies or techniques in order to recall the unfamiliar vocabularies. Language learners use vocabulary as a mean of reception and expression to acquire and convey meaning. Therefore, being able to remember new and unfamiliar words is outstanding for their success. Allen (1999) states that “vocabulary instruction is one of those educational arenas in which research and best practice are elusive”. The present study was an attempt to compare the effect of T-Coding method and Rote rehearsal learning on Iranian EFL learners' immediate and delayed vocabulary retention. For this purpose, two intermediate classes from a private language institute in Karaj, Iran were initially selected and randomly assigned to one of the two learning conditions: T-Coding Method and Rote Rehearsal Learning. One meaning recall test was administered one day after the treatment to check the learners' immediate retention and the other one was given two weeks later to check the learners' delayed retention. The findings revealed that T-Coding method produced better recall compared to Rote rehearsal learning, it means that those who learned words via T-Coding method outperform well both in the process of immediate and delayed retention. Therefore, mnemonic devices should be given prime attention by either EFL material developers or instructors as an efficient technique for vocabulary instruction, acquisition, and retention.
Interrogating Green Space in Medieval Monasticism: Position, Powers and Politics

This article explores three facets of green space within a medieval monastic context: its origin, its effects and properties and the way it was shaped into an expression of power. We learn a great deal about the history of green space through the nuances of monastic thought and vice versa. The term ‘green space’ in a medieval context may initially seem anachronistic and an artefact of twenty-first century health policy and neuroscience and yet, as this article argues, the use of medieval knowledge for moral and institutional power as well as medicine and spiritual contemplation tells us as much about monastic thought as its equivalent reveals of our urban and rural landscapes today. The term ‘green space’ is an insight into the medieval brain, an artefact of monastic self-fashioning and power. Medieval and modern perspectives should share the spotlight. In outlining properties and exploring political ecology, this article deploys a collection of rhetorical landscape descriptions, primarily from the Cistercian literature of the twelfth century, placing them in a wider context. In doing so, we understand another facet of monastic authority established and over landscape and articulated through the power structures of medicine, natural philosophy and other aspects of monastic learned discourse. Knowledge makes green, green promotes health, health valorises monasticism, monasticism shapes knowledge: a green circle of power.