Miracle-dz/UniFAR-FTUs huggingface dataset:
FRS 13 and corporate governance: a fund management perspective

The use of derivative instruments such as futures, options and swaps has become increasingly widespread in the last twenty years, particularly among large companies in economies with well-developed financial markets. This paper examines the impact of Financial Reporting Standard 13: Derivatives and Other Financial Instruments – Disclosures (FRS 13 hereafter) on isues relating to corporate governance. In particular, the researchers employ an interview survey to investigate: (i) UK institutional investors’ general attitudes towards the recent introduction of FRS 13; and (ii) whether the introduction of FRS 13 has any implications for corporate governance. The results to date indicate that institutional investors may not be treated as a homogeneous group with respect to their expressed views of FRS 13.
Black Market Premium and Income Distribution

The literature on income inequality includes many studies that have tried to identify factors such as level of economic development, rate of economic growth, population growth, resource endowment, price instability, and openness as main determinant of income inequality. In this paper, we show empirically that income inequality is higher in countries that have black market for foreign exchange. One major policy implication of our finding is that exchange rate unification should reduce income inequality.
Quality Perceptions and Willingness-to-Pay for Imported Rice in Japan

Attitudes of Japanese consumers toward domestic and foreign varieties of rice were analyzed on the basis of a survey. We found that the current retail prices for imported rice are higher than the average consumers' willingness-to-pay (WTP), whereas most domestic rice was priced below the average WTP. Unfamiliarity or negative perceptions of the safety and flavor of foreign rice lowered WTP substantially. The WTP for U.S. rice was limited more by negative perceptions of flavor than from concerns about food safety.
Understanding Pensions: Cognitive Function, Numerical Ability and Retirement Saving

In a world of declining state pension provision, it is becoming increasingly important that individuals are able to understand the financial choices they face and can choose savings products, portfolios and contribution rates accordingly. In this paper, we look at numerical ability and other dimensions of cognitive function in a sample of older adults in England and examine the extent to which these abilities are correlated with various measures of wealth and retirement saving outcomes. As well as finding that relatively large fractions of the older population can be seen to have low levels of numeracy, we show that numeracy levels are strongly correlated with measures of retirement saving and investment portfolios, even when controlling for other dimensions of cognitive ability as well as educational attainment. Numeracy is also related to knowledge and understanding of pension arrangements, and with perceived financial security. In the short run, there may be a role for targeting simple retirement planning information at low-numeracy, low-education groups; a longer-run goal for retirement saving policy might be to improve numeracy levels more generally.
Quality of Work: Concept and Measurement

In this paper we review some of the most essential literature on the concept and measurement of quality of work. We show that different academic fields have conceptualized quality of work in distinct ways however there has been a convergence in the positions. Although there is a lack of coherent measures or indicators, the utility a multi-dimensional approach, including both monetary and non-monetary indicators is often recommended. We propose six dimensions to be included in the measurement of quality of work: job security, pay and fringe benefits, intrinsic job rewards, work intensity, skills, and autonomy and control. The majority of the literature relies on subjective indicators of job quality. One way to improve data quality is to merge administrative data and survey data, combining both objective and subjective measures.
Effects of Intensive Dietary Treatment on Insulin‐stimulated Skeletal Muscle Glycogen Synthase Activation and Insulin Secretion in Newly Presenting Type 2 Diabetic Patients

Ten newly presenting, untreated, Europid Type 2 diabetic patients were studied before and after 8 weeks treatment with intensive diet alone. Nine normal control subjects were also studied. The degree of activation of skeletal muscle glycogen synthase (GS) was used as an intracellular marker of insulin action, prior to and during a 240‐min insulin infusion (100 mU kg−1 h−1). Fasting blood glucose decreased from 12.1 ± 0.9 (±SE) to 9.2 ± 0.8 mmol I−1 (p < 0.01), but there was no change in fasting insulin concentrations, 9.9 ± 2.3 vs 9.3 ± 2.1 mU I−1. Fractional GS activity did not increase in the Type 2 diabetic patients during the insulin infusion either at presentation (change −1.5 ± 1.9%) or after treatment (change +0.9 ± 1.8%), and was markedly decreased compared with the control subjects (change +14.5 ± 2.8%, both p < 0.001). Glucose requirement during the clamp was decreased in the Type 2 diabetic patients at presentation (2.2 ± 0.7 vs 7.3 ± 0.6 mg kg−1 min−1, p < 0.001), and despite improvement following dietary treatment to 3.3 ± 0.6 mg kg−1 min−1 (p < 0.01) remained lower than in the control subjects (p < 0.001). Fasting plasma non‐esterified fatty acid (NEFA) concentrations were elevated at presentation (p < 0.05), and failed to suppress normally during the insulin infusion. After treatment fasting NEFA concentrations decreased (p < 0.05) and suppressed normally (p < 0.05). Insulin secretion was assessed following an intravenous bolus of glucose (0.5 g kg−1) at euglycaemia before and after treatment. Both first (1 ± 1 vs 53 ± 9 mU I−1, p < 0.001) and second (148 ± 129 vs 781 ± 207 mU I−1 min, p < 0.02) phase responses were decreased compared with the control subjects. Following treatment the first phase response remained abnormal (2 ± 3 mU I−1), while the second phase response improved markedly (459 ± 206 mU I−1 min, p < 0.05), and was no longer significantly different to the control group. Thus the improved blood glucose control in the diet‐treated newly presenting Type 2 diabetic patients is likely to result from both increased insulin secretion and increased insulin action. The inability of insulin to activate skeletal muscle GS after treatment is likely to underlie the continued insulin insensitivity in these patients.
γ/δ T Cell-Deficient Mice Exhibit Reduced Disease Severity and Decreased Inflammatory Response in the Brain in Murine Neurocysticercosis

In a recently developed mouse model for neurocysticercosis, the immune response was characterized by a massive influx of γδ T cells and a type 1 pathway of cytokine expression. To understand the role of γδ T cells during this infection, the cellular and cytokine response was analyzed in mice that lack γδ T cells (TCRδ−/−). In TCRδ−/− mice, Mesocestoides corti metacestodes preferentially invaded the extraparenchymal areas of the brain. Furthermore, parasites were able to escape from the brain and establish a systemic infection with liver and peritoneal involvement. Immunopathological studies indicated that TCRδ−/− mice develop little inflammatory response and less neurological symptomatology. Significantly reduced numbers of T cells, macrophages, dendritic cells, and mast cells were present in the brain. The cytokine response in the brain of TCRδ−/− mice appears to be a mixed type1/type 2 response with low levels of IL-2, IL-4, IL-10, IL-12, IL-13, IL-15, and IFN-γ. To further investigate the immunological significance of this cell population, γδ T cells were adoptively transferred into intracranially infected TCRδ−/− mice. γδ T cells were specifically recruited into the CNS in response to this parasitic infection, and they were able to target the infected brain within 12 h after transfer. These results suggest that γδ T cells are key players in the immune response elicited during this CNS infection and direct a type 1 response in wild-type mice upon infection.
Differential Effects of Corticostriatal and Thalamostriatal Deafferentation on Expression of the Glutamate Transporter GLT1 in the Rat Striatum

Abstract: This study compared the effects of the disruption of the two main presumably glutamatergic striatal inputs, the corticostriatal and thalamostriatal pathways, on GLT1 expression in the rat striatum, using in situ hybridization and immunohistochemistry. Unilateral ibotenate‐induced thalamic lesion produced no significant changes in striatal GLT1 mRNA labeling and immunostaining as assessed at 5 and 12 days postlesion. In contrast, significant increases in both parameters were measured after bilateral cortical lesion by superficial thermocoagulation. GLT1 mRNA levels increased predominantly in the dorsolateral part of the striatum; there, the increases were significant at 5 (+84%), 12 (+101%), and 21 (+45%) but not at 35 days postlesion. GLT1 immunostaining increased significantly and homogeneously by 17‐26% at 12 and 21 days postlesion. The increase in GLT1 expression at 12 days postlesion was further confirmed by western blot analysis; in contrast, a 36% decrease in glutamate uptake activity was measured at the same time point. These data indicate that striatal GLT1 expression depends on corticostriatal but not thalamostriatal innervation. Comparison of our results with previous data showing that cortical lesion by aspiration down‐regulates striatal GLT1 expression further suggests that differential changes in GLT1 expression, and thus presumably in glial cell function, may occur in the target striatum depending on the way the cortical neurons degenerate.
The Impact of Corporate Governance Structures on the Corporate Investment Performance in Turkey

In spite of the fact that most research has concentrated on the typical agency problem between managers and dispersed shareholders, in many countries large shareholders are much more frequently observed than firms with dispersed ownership structures. While large shareholders are perceived as a potential solution to the typical agency problem between managers and dispersed shareholders, less research has been done on the costs of large shareholders. One important issue in this literature is that deviations of cash flow rights from voting rights often result in substantial value discounts. In this paper we test for the impact of such deviations on corporate investment performance in Turkey. To measure corporate investment performance we estimate returns on investment relative to company costs of capital, a methodology that overcomes the endogeneity problem, which is known to contaminate results in the empirical corporate governance literature. Consistent with existing studies, we find that the average Turkish listed company has a return on investment which is less than its cost of capital. We also report significantly better investment performance for companies that do not deviate from one share-one vote by using pyramidal ownership structures, dual-class shares and other devices that enhance the control power of large shareholders beyond their cash flow rights. We also find that business group membership improves the investment performance and relative market valuation of companies. Copyright (c) 2006 The Authors; Journal compilation (c) 2006 Blackwell Publishing Ltd.
Guidance in Vitro of the Pollen Tube to the Naked Embryo Sac of Torenia fournieri

The precise guidance of the pollen tube to the embryo sac is critical to the successful sexual reproduction of flowering plants. We demonstrate here the guidance of the pollen tube to the embryo sac in vitro by using the naked embryo sac of Torenia fournieri, which protrudes from the micropyle of the ovule. We developed a medium for culture of both the ovule and the pollen tube of T. fournieri and cocultivated them in a thin layer of solid medium. Although pollen tubes that had germinated in vitro passed naked embryo sacs, some pollen tubes that grew semi–in vitro through a cut style arrived precisely at the site of entry into the embryo sac, namely, the filiform apparatus of the synergids. When pollen tubes were unable to enter the embryo sac, they continuously grew toward the same filiform apparatus, forming narrow coils. Pollen tubes selectively arrived at complete, unfertilized embryo sacs but did not arrive at those of heat-treated ovules or those with disrupted synergids. These results convincingly demonstrate that pollen tubes are specifically attracted to the region of the filiform apparatus of living synergids in vitro.
Taking the Self-Leadership High Road: Smooth Surface or Potholes Ahead?

Some might question the relevance or value of what we know about self-leadership given recent business and societal contexts that seem to discourage personal responsibility and even reward destructive behavior. This article is intended to help expand our thinking via a journey along a “self-leadership high road. ” After reviewing what we already know about self-leadership, this paper goes on to investigate ways that research and practice might move to a higher level. The concept of higher-level self-leadership (supported by the metaphor of a self-leadership high road) is addressed in terms of the degree to which self-influence processes are characterized by authenticity, responsibility, and increasing capacity. Authenticity encompasses the significance of addressing higher-level standards (e.g., considering the why and what of self-influence beyond the how). Responsibility is viewed in a way that is consistent with commonly understood elements of corporate social responsibility. Capacity centers on the exp.
Vocational education and training in Britain: a small business perspective

Beginning with the 1970s, policy makers, academics and industrial commentators in Britain have increasingly focused their attention on the development of the domestic small business sector. The macro‐economic potential of this sector of the economy had progressively come to be viewed as the panacea to Britain’s “relative” economic decline. Very soon, however, it had become obvious that in comparison with those of other industrially developed nations, the British labour force was poorly educated and trained. This paper explores the dynamics of workplace training in the small business sector of the British economy. The study upon which this paper is based involved three complementary research methods. It included an investigative telephone survey during which attitudinal, sectoral and compositional data on training were collected from 2,000 randomly selected businesses from the West Midlands region of Great Britain. Although the vast majority of respondents claimed to hold positive attitudes to training, a large proportion of them admitted not to have provided any during the 12 months prior to the interviews. According to them, this apparent “training paradox” has its roots in a number of “directly” and “indirectly” relevant factors. Significantly, the vast majority of respondents felt that in recent years training policies in Britain lacked the necessary focus, coherence and continuity. A number of tentative recommendations are suggested, which could benefit the concerted efforts of the present Labour government directed at this important area of economic policy.
Evolving HR practices in a strategic intra‐firm supply chain

While there are several studies on human resource management (HRM) at the inter-firm dyadic relationship level, the HR aspects of intra-firm strategic supply relationships have been largely ignored. Yet interdependence requires coordination among functions, sites, and stages of the internal supply chain (SC). Drawing on a case study of a large European pharmaceutical company, which we call Tyrenco, we explore how HR practices evolve within the strategic intra-firm supply relationship. Our findings illustrate the disruptive effects of HR practices when they are focused on site-based objectives and the improved coordination that results from redesigning HR processes to achieve internal operational integration. We highlight the tension between site-based, financial controls and an emergent SC logic. Drawing on recent interest in cooperative approaches to HR practices, this study seeks to operationalize the need to align HR practices with end-to-end objectives at different stages of the intra-firm supply chain. Our findings have practical implications for designing HR practices within multinational corporations (MNCs) that are characterized by complex and fragmented internal environments. © 2010 Wiley Periodicals, Inc.
Acquirer Valuation and Acquisition Decisions: Identifying Mispricing Using Short Interest

We use short interest as an investor-based measure of over- or undervaluation that distinguishes between the misvaluation and Q-theories of mergers. Using this measure, we find that misvaluation is a strong determinant of merger decision-making. Firms in the top quintile of short interest are 54% more likely to engage in stock acquisitions and 22% less likely to engage in cash acquisitions. Stock (but not cash) acquirers have higher short interest than their targets. Overall, our results suggest that the previously documented underperformance of stock acquirers and the overperformance of cash acquirers can be explained by misvaluation, as captured by short interest.
A Conceptual Framework for Antecedents and Consequence of Organizational Learning Capability

In extension of organizational learning study, the concept of organizational learning capability had emerged which stress on the importance of the facilitating factors for organizational learning or the organizational propensity to learn. Despite its recognized importance in the literature, little research has been devoted to the research centered on the related factors that could contribute to its development. Factors such as human resource management practices and leadership are identified as the strong predictor of organizational learning. There are also little attention has been given to relate organizational learning with organizational commitment, thus more research is required to analyze the relationships between organizational learning and issues concerning employees, such as organizational commitment. Thus this paper proposed the integration of human resource management practices, servant leadership, organizational learning capability and organizational commitment in a conceptual framework for future research.
Factors affecting job satisfaction among public servants: a South Korean case

The purpose of this study is to explore factors affecting job satisfaction among South Korean public servants and to provide relevant policy implication for human resource management. Using the structural equation model (SEM), the authors analysed those factors that affect employee job satisfaction. The exogenous variables including recognition, leadership, teamwork, job grade (ranking), and pay significantly affect employee satisfaction. By identifying which factors affect job satisfaction positively or negatively, it can help to address the barriers to performance and the improvement of organisational culture that would lead to a high-performing organisation.
Determinants of individual engagement in knowledge sharing

Knowledge management systems try to elicit and support the flow of ideas and experiences among groups of employees (sometimes referred to as knowledge communities). Whereas numerous information and communication systems have been developed to support such knowledge exchanges, practical applications have found that technology alone cannot ensure that knowledge will indeed be volunteered and exchanged, and whereas researchers and consultants alike have argued that culture and other human variables constitute key success factors, it is not clear what specific variables are at play, nor what management practices can affect those variables. This exploratory research investigates some of the psychological, organizational and system-related variables that may determine individual engagement in intra-organizational knowledge sharing. Results from a survey of 372 employees from a large multinational show that self-efficacy, openness to experience, perceived support from colleagues and supervisors and, to a lesser extent, organizational commitment, job autonomy, perceptions about the availability and quality of knowledge management systems, and perceptions of rewards associated with sharing knowledge, significantly predicted self-reports of participation in knowledge exchange.
Internal Social Capital and the Attraction of Early Contributions in Crowdfunding

The nascent crowdfunding literature has highlighted the existence of a self–reinforcing pattern whereby contributions received in the early days of a campaign accelerate its success. After discussing what sustains this pattern, we maintain that the internal social capital that proponents may develop inside the crowdfunding community provides crucial assistance in igniting a self–reinforcing mechanism. Results of an econometric analysis of a sample of 669 Kickstarter projects are consistent with this view. Moreover, the effect of internal social capital on the success of a campaign is fully mediated by the capital and backers collected in the campaign's early days.
The Role of Dividends, Debt and Board Structure in the Governance of Family Controlled Firms

We investigate whether family controlled firms use dividends, debt and board structure to exacerbate or mitigate agency problems between controlling and minority shareholders in a capital market environment with high investor protection and private benefits of control. Results indicate family controlled firms employ higher dividend payout ratios, higher debt levels and lower levels of board independence compared to non-family firms. This suggests family controlled firms use either dividends or debt as a substitute for independent directors. We also find that dividends and debt are more effective governance mechanisms in mitigating the families' expropriation of minority shareholders' wealth. Independent directors are, in contrast, more effective in controlling owner-manager conflict in non-family firms. Copyright (c) 2009 The Authors Journal compilation (c) 2009 Blackwell Publishing Ltd.
Geographic and Product Diversification in Charitable Organizations

The diversification of firms into new geographic and product markets has received a tremendous amount of attention in the field of management. Charities, on the other hand, have garnered attention among management scholars primarily as social influencers on multinational corporations. However, over the past half-century, charities have become significant diversified entities in and of themselves. At their core, both charitable and for-profit organizations are bundles of routines that struggle to deal with administrative issues related to institutional isomorphism, organizational slack, and resource dependency. However, from a contextual standpoint, one of the primary mechanisms by which the diversification of charities impacts efficiency is the transaction costs associated with seeking out and maintaining external resources from donors in addition to charities’ internal set of capabilities and routines. Using panel data involving 3,616 charities over a five-year period, the authors’ findings suggest that while the main relationship between geographic diversification and efficiency is U shaped in nature, the main relationship between product diversification and efficiency is inverted U shaped. From an interaction perspective, the authors’ results also suggest that while charities that maintain lower levels of product diversification follow a similar U-shaped curve as they increasingly diversify into new regions, this curve is inverted for charities that are engaged in unrelated types of product diversification. Therefore, the study suggests that the extent to which one type of diversification produces positive or negative efficiencies depends significantly on the level of the other type of diversification. Such findings have theoretical implications for both the charitable and for-profit sectors.