Miracle-dz/UniFAR-FTUs huggingface dataset:
Fund Manager Succession in Closed-End Mutual Funds

Managing the succession process by the hiring and firing of key executives is one of the important functions of a board of directors. In this research we study successions of fund managers in the closed-end mutual fund industry. The agency issues inherent in closed-end mutual funds makes them a unique laboratory for such a study. Our results suggest that while the overall abnormal returns of these manager changes are statistically insignificant, that the returns are more positive for funds with large expense ratios and for funds trading at a discount. We also find the abnormal returns are negatively related to the percentage of inside director stock ownership. Corporate bond funds and international equity funds react more negatively to these announcements than other types of funds. The abnormal returns do not appear to be related to board composition, but board composition does vary across fund type, and may therefore indirectly influence the results.
The Constituency as a Focus of Representation: Studying the Italian Case through the Analysis of Parliamentary Questions

Parliamentarians differ widely in the degree to which they devote attention to their geographical constituency. An analysis of parliamentary questions offers a precious opportunity to look at the role of individual parliamentarians even where, as in the European case, political parties enforce strict discipline in roll-call voting. This paper analyses the constituency focus of Italian deputies elected to the 15th legislature, through the analysis of their parliamentary questions. According to the mainstream literature, the closed list proportional system adopted in Italy since 2005 should provide little incentive to cultivate a personal vote. However, observing the territorial focus of many parliamentary questions, we learn that some parliamentarians do play the role of ‘constituency servant’ even in a context which is not expected to reward this choice. Why does this happen? To answer this, hypotheses related to the career profile of Italian parliamentarians are developed and tested empirically against alternative explanations.
Monetizing Housing Equity to Generate Retirement Incomes

The public housing program and the unique way of financing housing through the mandatory savings system in Singapore have created a class of homeowners. This paper compares the instruments available to different flat owners to monetize their assets, including the Lease Buyback Scheme (LBS), subletting, downsizing and reverse mortgage. We estimate the present value of retirement incomes derived from these options by incorporating the survival probability which is forecasted using the Lee-Carter demographic model. We compare the monthly payouts that can be unlocked and discuss the tradeoffs of adequate retirement with the elderly preference for leaving a bequest and ageing in place. Our results show that LBS is the most attractive option. It allows the elderly to age-inplace while generating a steady stream of monthly drawdown and possibility of leaving a bequest. Subletting releases housing equity while retaining the asset. This helps the elderly to fulfill their bequest motive. Reverse mortgage is the least attractive option, yielding the lowest retirement income due to high loading factors.
Activation of Mammalian Target of Rapamycin Controls the Loss of TCRζ in Lupus T Cells through HRES-1/Rab4-Regulated Lysosomal Degradation1

Persistent mitochondrial hyperpolarization (MHP) and enhanced calcium fluxing underlie aberrant T cell activation and death pathway selection in systemic lupus erythematosus. Treatment with rapamycin, which effectively controls disease activity, normalizes CD3/CD28-induced calcium fluxing but fails to influence MHP, suggesting that altered calcium fluxing is downstream or independent of mitochondrial dysfunction. In this article, we show that activity of the mammalian target of rapamycin (mTOR), which is a sensor of the mitochondrial transmembrane potential, is increased in lupus T cells. Activation of mTOR was inducible by NO, a key trigger of MHP, which in turn enhanced the expression of HRES-1/Rab4, a small GTPase that regulates recycling of surface receptors through early endosomes. Expression of HRES-1/Rab4 was increased in CD4+ lupus T cells, and in accordance with its dominant impact on the endocytic recycling of CD4, it was inversely correlated with diminished CD4 expression. HRES-1/Rab4 overexpression was also inversely correlated with diminished TCRζ protein levels. Pull-down studies revealed a direct interaction of HRES-1/Rab4 with CD4 and TCRζ. Importantly, the deficiency of the TCRζ chain and of Lck and the compensatory up-regulation of FcεRIγ and Syk, which mediate enhanced calcium fluxing in lupus T cells, were reversed in patients treated with rapamcyin in vivo. Knockdown of HRES-1/Rab4 by small interfering RNA and inhibitors of lysosomal function augmented TCRζ protein levels in vitro. The results suggest that activation of mTOR causes the loss of TCRζ in lupus T cells through HRES-1/Rab4-dependent lysosomal degradation.
The interplay of physical and social wellbeing in older adults: investigating the relationship between physical training and social interactions with virtual social environments

Background. Regular physical activity can substantially improve the physical wellbeing of older adults, preventing several chronic diseases and increasing cognitive performance and mood. However, research has shown that older adults are the most sedentary segment of society, spending much of their time seated or inactive. A variety of barriers make it difficult for older adults to maintain an active lifestyle, including logistical difficulties in going to a gym (for some adults, leaving home can be challenging), reduced functional abilities, and lack of motivation. In this paper, we report on the design and evaluation of Gymcentral. A training application running on tablet was designed to allow older adults to follow a personalized home-based exercise program while being remotely assisted by a coach. The objective of the study was to assess if a virtual gym that enables virtual presence and social interaction is more motivating for training than the same virtual gym without social interaction. Methods. A total of 37 adults aged between 65 and 87 years old (28 females and 9 males, mean age = 71, s.d. = 5.8) followed a personalized home-based strength and balance training plan for eight weeks. The participants performed the exercises autonomously at home using the Gymcentral application. Participants were assigned to two training groups: the Social group used an application with persuasive and social functionalities, while the Control group used a basic version of the service with no persuasive and social features. We further explored the effects of social facilitation, and in particular of virtual social presence, in user participation to training sessions. Outcome measures were adherence, persistence and co-presence rate. Results. Participants in the Social group attended significantly more exercise sessions than the Control group, providing evidence of a better engagement in the training program. Besides the focus on social persuasion measures, the study also confirms that a virtual gym service is effective for supporting individually tailored home-based physical training for older adults. The study also confirms that social facilitation tools motivate users to train together in a virtual fitness environment. Discussion. The study confirms that Gymcentral increases the participation of older
CONSTRAINTS ON COSMIC RAYS, MAGNETIC FIELDS, AND DARK MATTER FROM GAMMA-RAY OBSERVATIONS OF THE COMA CLUSTER OF GALAXIES WITH VERITAS AND FERMI

Observations of radio halos and relics in galaxy clusters indicate efficient electron acceleration. Protons should likewise be accelerated and, on account of weak energy losses, can accumulate, suggesting that clusters may also be sources of very high energy (VHE; E > 100 GeV) gamma-ray emission. We report here on VHE gamma-ray observations of the Coma galaxy cluster with the VERITAS array of imaging Cerenkov telescopes, with complementing Fermi Large Area Telescope observations at GeV energies. No significant gamma-ray emission from the Coma Cluster was detected. Integral flux upper limits at the 99% confidence level were measured to be on the order of (2–5) × 10−8 photons m−2 s−1 (VERITAS, >220 GeV) and ∼2 × 10−6 photons m−2 s−1 (Fermi, 1–3 GeV), respectively. We use the gamma-ray upper limits to constrain cosmic rays (CRs) and magnetic fields in Coma. Using an analytical approach, the CR-to-thermal pressure ratio is constrained to be <16% from VERITAS data and <1.7% from Fermi data (averaged within the virial radius). These upper limits are starting to constrain the CR physics in self-consistent cosmological cluster simulations and cap the maximum CR acceleration efficiency at structure formation shocks to be <50%. Alternatively, this may argue for non-negligible CR transport processes such as CR streaming and diffusion into the outer cluster regions. Assuming that the radio-emitting electrons of the Coma halo result from hadronic CR interactions, the observations imply a lower limit on the central magnetic field in Coma of ∼(2–5.5) μG, depending on the radial magnetic field profile and on the gamma-ray spectral index. Since these values are below those inferred by Faraday rotation measurements in Coma (for most of the parameter space), this renders the hadronic model a very plausible explanation of the Coma radio halo. Finally, since galaxy clusters are dark matter (DM) dominated, the VERITAS upper limits have been used to place constraints on the thermally averaged product of the total self-annihilation cross section and the relative velocity of the DM particles, 〈σv〉.
Contemporary Information Search Strategies of Destination-Naïve International Vacationers

Abstract An information search strategy refers to the combination of information sources utilized by a tourist when planning travel. This study describes the common information search strategies utilized by a group of destination-naïve international vacation tourists. Five hundred twenty-eight first-time vacation visitors to New Zealand were interviewed within their first 24 hours of arrival in the country and metric measures taken of their use of six information sources in the planning of their vacations. Six common search strategies are identified, together with their demographic and behavioral correlates—a low search strategy, four moderate search strategies—“guidebook brochure agent,” “guidebook friends,” “friends,” “net guidebook”—and a high search strategy, “friends net. ”
Science, Business, and Innovation: Understanding Networks in Technology‐Based Incubators

This study investigates the formation of networks in a major Canadian technology‐based incubator. Technology‐based incubators have spread around the world as a tool to accelerate the growth and survival of high‐tech companies. One of the central features of incubators is the provision of networking opportunities for tenants to establish collaborative relationships with other organizations. Using a qualitative methodology, this study seeks to better conceptualize the interplay between the networking strategies of high‐tech firms and the environment of incubators. This study reveals that far from an undifferentiated phenomenon, different kinds of networks are created in a high‐tech incubator environment. Factors that enable and constrain such networks are identified. This study points to the variegated nature of networks, suggesting that greater attention is needed to the conceptualization of inter‐organizational interactions in technology‐based incubators.
New Trade Models, New Welfare Implications

We show that endogenous firm selection provides a new welfare margin for heterogeneous firm models of trade (relative to homogeneous firm models). Under some parameter restrictions, the trade elasticity is constant and is a sufficient statistic for welfare, along with the domestic trade share. However, even small deviations from these restrictions imply that trade elasticities are variable and differ across markets and levels of trade costs. In this more general setting, the domestic trade share and endogenous trade elasticity are no longer sufficient statistics for welfare. Additional empirically observable moments of the micro structure also matter for welfare.
What's Unique about the Federal Funds Rate? Evidence from a Spectral Perspective

This paper compares the behaviour of the effective federal funds rate to 10 US interest rates with maturities ranging from overnight to 10 years. Using spectral estimation methods, we identified idiosyncratic shocks to the funds rate and provided evidence on their impact on other rates at various frequencies. Our results suggest that, while all of the interest rates examined have common shocks at low frequencies, the federal funds rate contains some unique information at high frequency, although this information appears to be relevant only at the short end of the term structure. In turn, these results are open to various alternative interpretations.
A Mucus Adhesion Promoting Protein, MapA, Mediates the Adhesion of Lactobacillus reuteri to Caco-2 Human Intestinal Epithelial Cells

Lactobacillus reuteri is one of the dominant lactobacilli found in the gastrointestinal tract of various animals. A surface protein of L. reuteri 104R, mucus adhesion promoting protein (MapA), is considered to be an adhesion factor of this strain. We investigated the relation between MapA and adhesion of L. reuteri to human intestinal (Caco-2) cells. Quantitative analysis of the adhesion of L. reuteri strains to Caco-2 cells showed that various L. reuteri strains bind not only to mucus but also to intestinal epithelial cells. In addition, purified MapA bound to Caco-2 cells, and this binding inhibited the adhesion of L. reuteri in a concentration-dependent manner. Based on these observations, the adhesion of L. reuteri appears due to the binding of MapA to receptor-like molecules on Caco-2 cells. Further, far-western analysis indicated the existence of multiple receptor-like molecules in Caco-2 cells.
Cohen syndrome: evaluation of its cardiac, endocrine and radiological features

Cohen syndrome (MIM no. 216550) is an autosomal recessive disorder with a typical clinical picture. Since the first report, most publications have represented single case reports. In this study, our aim was to describe cardiac, endocrine and radiological abnormalities in 22 Cohen patients of Finnish descent. Detailed investigations of the heart revealed the anatomy of the heart to be normal with no evidence for clinically significant mitral prolapse. However, a decreased left ventricular function with advancing age was identified. No significant endocrine abnormalities were found at the examination of pituitary, adrenal and thyroid function. The height was either normal or patients were moderately short (mean height standard deviation score (SDS) −2) at all ages, associated, however, often with the marked kyphosis. Truncal obesity was seen in 4/22 patients. X‐rays of the chest, lumbar and thoracic spine, long bones, ankles and metacarpophalangeal pattern profiles revealed kyphosis, scoliosis and calcaneo planovalgus as common features. Fingers of these patients were slender but short with a characteristic metacarpophalangeal pattern profile.
An Exploratory Study of Organizational Governance in Publicly-Quoted Professional Service Firms

There has been a trend of large professional service firms (PSFs) to move from the partnership form of ownership to alternative ownership forms. As part of this trend large, publicly-quoted accounting companies have emerged in Australia, the US and the UK. Research on how publicly-owned PSFs, including accounting companies, are governed, whether aspects of the governance of partnership persist, why particular governance interpretive schemes and associated structures and systems are implemented and implications for performance is sparse. This study explores the interpretive scheme of governance in two Australian publicly-quoted accounting companies and finds one of the companies to have mimicked the major attributes of the partnership interpretive scheme while the other company moved to a corporate form of governance eliminating all vestiges of the partnership interpretive scheme. Governance was found to have significant implications for the performance of the companies with moving from a partnership interpretive scheme contributing to the ultimate failure of one of the companies. The cases suggest that failed experiments in the governance of publicly-owned PSFs, a relatively recently emerged ownership form in some professions, may contribute to conflicting prior findings on the implications of ownership form for the performance of PSFs. Two alternative approaches to the introduction of corporate style governance structures and systems were identified with the findings suggesting potential benefits of evolution rather than revolution. Based on the findings, a theoretical model of the interpretive scheme of governance of publicly-traded PSFs is developed including factors affecting the interpretive scheme implemented and the introduction of more corporate-like governance structures and systems, potential performance implications of PSFs moving away from a partnership interpretive scheme and the conditions and contingencies under which the relationship may hold. The paper also extends the application of agency theory to publicly-owned PSFs.
Virulent Salmonella enterica Serovar Typhimurium Evades Adaptive Immunity by Preventing Dendritic Cells from Activating T Cells

ABSTRACT Dendritic cells (DCs) constitute the link between innate and adaptive immunity by directly recognizing pathogen-associated molecular patterns (PAMPs) in bacteria and by presenting bacterial antigens to T cells. Recognition of PAMPs renders DCs as professional antigen-presenting cells able to prime naïve T cells and initiate adaptive immunity against bacteria. Therefore, interfering with DC function would promote bacterial survival and dissemination. Understanding the molecular mechanisms that have evolved in virulent bacteria to evade activation of adaptive immunity requires the characterization of virulence factors that interfere with DC function. Salmonella enterica serovar Typhimurium, the causative agent of typhoid-like disease in the mouse, can prevent antigen presentation to T cells by avoiding lysosomal degradation in DCs. Here, we show that this feature of virulent Salmonella applies in vivo to prevent activation of adaptive immunity. In addition, this attribute of virulent Salmonella requires functional expression of a type three secretion system (TTSS) and effector proteins encoded within the Salmonella pathogenicity island 2 (SPI-2). In contrast to wild-type virulent Salmonella, mutant strains carrying specific deletions of SPI-2 genes encoding TTSS components or effectors proteins are targeted to lysosomes and are no longer able to prevent DCs from activating T cells in vitro or in vivo. SPI-2 mutant strains are attenuated in vivo, showing reduced tissue colonization and enhanced T-cell activation, which confers protection against a challenge with wild-type virulent Salmonella. Our data suggest that impairment of DC function by the activity of SPI-2 gene products is crucial for Salmonella pathogenesis.
Cue-induced craving to paraphernalia and drug images in opioid dependence.

BACKGROUND AND OBJECTIVES Stimuli that are repeatedly paired with substance use, such as drug paraphernalia, can themselves elicit drug craving. The aim of this study was to examine whether particular cue types elicit greater craving responses than others among individuals with opioid dependence. METHODS Participants seeking inpatient treatment for opioid dependence were recruited for a study of cue-induced craving. This sample (N = 50), included 25 primary heroin users, 20 primary prescription opioid users, and 5 users of heroin and prescription opioids equally. Participants completed a cue reactivity task, in which images of drug-related stimuli were presented on a computer screen, each followed by a question assessing state drug craving. RESULTS Overall, participants reported higher craving following paraphernalia stimuli relative to drug stimuli. However, this was moderated by opioid type; there was significantly higher craving in response to images of paraphernalia cues in the heroin group, and higher craving in response to drug cues in the prescription opioid group. DISCUSSION AND CONCLUSIONS These findings highlight potential differences in cue reactivity to opioid paraphernalia and drug cues, which appears to be moderated by drug type. SCIENTIFIC SIGNIFICANCE Cue-induced craving is an important factor in relapse. This study adds further to the literature on cue-induced craving in opioid dependence, suggesting that craving may vary based on both cue type and opioid type. Future studies designed to discriminate the impact of substance of abuse, route of administration, and cue type will help to further clarify cue-induced craving in this population.
Leptin Induces Mitogen-activated Protein Kinase- dependent Proliferation of C3H10T1/2 Cells*

Leptin, secreted by adipocytes, regulates satiety and energy expenditure. Several forms of leptin receptors produced by alternative mRNA splicing are found in many tissues, including the hypothalamus, liver, lung, kidney, hematopoietic cells, and gonads, suggesting that leptin exerts effects in these tissues. In accordance with the distribution of leptin receptors, there is accumulating evidence that leptin plays various roles in reproduction, hematopoiesis, and the immune systems in addition to the regulation of food intake and energy expenditure. In the present study, we examined the in vitro effects of leptin on proliferation of a mouse embryonic cell line, C3H10T1/2, and its mechanism of action. Leptin caused a dose- and time-dependent increase in mitogen-activated protein kinase (MAPK) activity that was accompanied by an increase in C3H10T1/2 cell number. The MAPK kinase-1-specific inhibitor PD98059 completely blocked the increases in both MAPK activity and cell proliferation caused by leptin. These findings indicate that leptin stimulates the proliferation of C3H10T1/2 cells via the MAPK cascade.