Miracle-dz/UniFAR-FTUs huggingface dataset:
The Impact of Firm and Information Production on the Aftermarket Liquidity of IPO Firms

This study investigates the relationship between the aftermarket liquidity and underpricing of IPO firms by examining a sample of U.S. IPOs issued during the period 1996-2011. We first explore the relationship between stock liquidity (e.g., turnover and Amihud illiquidity) and underpricing during a one-year period after the IPO. Our results suggest that underpricing indeed boosts aftermarket liquidity and is thus in line with similar findings in the previous literature. Thus, a possible mechanism is likely to link the initial returns of IPO with lasting higher aftermarket liquidity. In this context, we propose and examine that “information production” hypothesis that IPO firms experience more information revelation to realize a “market appetite” for newly issued shares. Our empirical results demonstrate that analyst coverage, measured by the number of analysts following the IPO, and news reports, measured by the number of news mentioning the IPO firm, are two probable sources for information generation after the IPO. With a higher level of underpricing, IPO companies will certainly attract more analysts and more media coverage. Then, we check the link between information generation after the IPO and liquidity post-listing. Consistent with our expectations, there is a positive and significant relationship between the number of analysts and liquidity, and the number of news and liquidity. Based on this finding, we conclude that more information generation possibly induces attention among institutional investors and the public, which in turn causes higher aftermarket liquidity. Our study indicates that the underpricing of IPO firms serves as a possible compensation for underwriters and potential investors to obtain more analyst coverage and media attention, which is positively related to higher aftermarket liquidity.
Formation and Properties of the TaY 2 O 3 , Ta-ZrO 2 , and Ta-TaC Nanocomposites

*e nanocrystalline tantalum-ceramic composites were made using mechanical alloying followed by pulse plasma sintering (PPS). *e tantalum acts as a matrix, to which the ceramic reinforced phase in the concentration of 5, 10, 20, and 40 wt. % was introduced. Oxides (Y2O3 and ZrO2) and carbides (TaC) were used as the ceramic phase. *e mechanical alloying results in the formation of nanocrystalline grains. *e subsequent hot pressing in the mode of PPS results in the consolidation of powders and formation of bulk nanocomposites. All the bulk composites have the average grain size from 40 nm to 100 nm, whereas, for comparison, the bulk nanocrystalline pure tantalum has the average grain size of approximately 170 nm. *e ceramic phase refines the grain size in the Ta nanocomposites. *e mechanical properties were studied using the nanoindentation tests. *e nanocomposites exhibit uniform load-displacement curves indicating good integrity and homogeneity of the samples. Out of the investigated components, the Ta-10 wt. % TaC one has the highest hardness and a very high Young’s modulus (1398HV and 336 GPa, resp.). For the Ta-oxide composites, Ta-20 wt. % Y2O3 has the highest mechanical properties (1165HV hardness and 231GPa Young’s modulus).
Customer intention to adopt a fee‐based advisory model: An empirical study in retail banking

Purpose – The paper aims to identify which factors determine (German) retail banking customers' intention to adopt a new remuneration system for financial advice. The new system is a pay‐per‐use advisory model that supersedes existing commission‐based advisory approaches.Design/methodology/approach – The paper develops and tests a comprehensive conceptual framework that includes perceived innovation characteristics, relationship quality, and socio‐demographic and psychographic variables to explain adoption intentions of the new remuneration system. The data come from a survey among clients of a large German retail bank.Findings – Perceived innovation characteristics (i.e. relative advantage) largely determine the intention to adopt the fee‐based advisory model. Consumer and relationship quality variables do not directly impact adoption intentions, but have an indirect effect through influencing perceived innovation characteristics and moderating their relative importance. Relationship quality indicators, .
A multivariate analysis of rational and behavioral factors that may explain the existence of discounts (premiums) of closed-end investment funds

Using multivariate analysis and based on a theoretical framework that we call hybrid theory (which considers rational and behavioral explanations for the close-end investment funds discounts/premiums), we intend to test the validity of certain factors such as agency costs, dividend policy and liquidity (so-called rational factors), combined with investor sentiment and limits to arbitrage (behavioral factors) to explain the structure of closed-end funds discounts (premiums) in the US market. Note that, as far as we know, few empirical papers have tested the validity of this approach. Based on a sample of 346 US closed-end funds, we present evidence that dividend policy (dividend yield), the portfolio composition (restricted assets) and turnover ratio, as well as the investor sentiment and replication costs (as arbitrage limits) are statistically significant variables by the multivariate regression analysis undertaken, which seems to support empirically the hybrid hypothesis. This paper also intends, by stepwise discriminant analysis, to identify which of these explanatory factors of closed-end funds discounts (premiums) contribute most to discriminate between bond and equity funds. Results indicate that the dividend yield, management fee and replication costs (limits to arbitrage) are the main contributors to the discriminant function, with about 92% of the funds properly classified.
Pre-Variscan volcanic-sedimentary succession of the central southern Góry Kaczawskie, SW Poland: Outline geology

Przedwaryscyjska sukcesja wulkaniczno-osadowa centralnej cześci poludniowych Gor Kaczawskich: zarys geologii A revised geological map of the central southern Gory Kaczawskie (Kaczawa Mountains) in the Western Sudetes, at the NE edge of the Bohemian Massif, based on the authors’ detailed survey of volcanic rocks within a Lower Palaeozoic low-grade metamorphic succession, provides the basis for modified tectonic and stratigraphie subdivisions. In contrast to previous tectonic models, the Radzimowice slates are interpreted as a separate tcctonic unit, referred to as the Radzimowice unit. It lies between two other tectonic units, the Świerzawa unit in the north, and the Bolkow unit in the south, both comprising similar volcanic-sedimentary sequences. The existing lithostratigraphic subdivisions of the volcanic rocks into a "suite of greenstones" and a "suite of volcanics and volcaniclastics" are considered unsatisfactory and a new working stratigraphie scheme is proposed. It distinguishes (1) units in inferred sequential order: Podgorki volcanic complex, Wojcieszow limestones, Oselka rhyodacites, Gackowa sandstones (these four grouped into the Milek succession), grey slates, Lubrza trachytes, black slates & cherts and siliceous slates; and (2) units of unknown position: Chmielarz slates, Dobkow slates, Radzimowice slates, and melanges. The position of the Radzimowice slates and melanges is uncertain, though they are thought to be younger than most of the sequence. The tectonic units are interpreted as thrust sheets. The main southern outcrop o f the Świerzawa unit is considered to define the overturned limb of a south verging anticline. In the Bolkow unit, particular subunits probably represent different parts of the sequence which arc arranged into south and SW - verging folds. Lithological units within the Świerzawa and Bolkow tectonic units are correlated. Parts of the Milek succession in the lower part, and the Lubrza trachytes in the upper part of the sequence, are found in most sections in both tectonic units. Differences probably reflect primary lateral or vertical changes in the sedimentary and volcanic environment, though some may partly have a tectonic origin.
The effect of economic policy uncertainty on bank valuations

ABSTRACT This article examines how economic policy uncertainty (EPU) affects bank valuations. Using a large sample of banks over a long period, we find that EPU has a negative effect on bank valuations. One explanation for this result is that EPU reduces bank loan growth, and lower loan growth then leads to lower bank valuations. Consistent with this explanation, we find that the negative effect of EPU is more pronounced for banks with a higher ratio of loans to total assets.
Optimization of textural characteristics of analogue UF-Feta cheese made from dairy and non-dairy ingredients

In this study, a mixture of milk protein concentrate, whey protein concentrate, skim milk powder, soymilk, margarine, butter and water was used for production of recombined UF-Feta cheese analogue. Variables were milk protein concentrate (8%, 9%, 10%), whey protein concentrate (0%, 1.5%, 3%), soymilk (5%, 10%, 15%) and margarine (0%, 5%, 10%). Textural properties of Samples were analyzed 3 days post-manufacture. The central composite design was employed and the results were modeled and analyzed using response surface methodology. Coefficients of determination, R2, of fitted regression models for different variables were varied in the range of 89.59-97.80 and the lack-of-fit was not significant for all responses at 95%. Hence, the models for all the response variables were highly adequate. The results showed that the optimum processing conditions for producing cheese with suitable hardness and cohesiveness and lowest adhesiveness were: 9.13% milk protein concentrate, 3% whey protein concentrate, 15% soymilk and 7.65% margarine.
Team knowledge management within an outsourced businesssystems software maintenance environment: a case study usinggrounded theory methods

The effective management of knowledge is increasingly seen as an essential contributor to the success of a knowledge-based organisation. There is a wealth of methodologies and approaches providing guidelines or frameworks for managing knowledge in a wide range of domains such as software development, IS service delivery and project management but few are dedicated to software maintenance. This paper presents the case study research of an outsourced software maintenance operation in the e-commerce business unit of a large UK retailer, using grounded theory to investigate a framework for assessing and improving the knowledge management capability of the software maintenance teams. The framework assesses the operation in five areas: leadership, communication, tools, processes and cultures. The results offer an insight into the strengths and areas for improvement in the knowledge management arrangements.
RADIO-LOUD NARROW-LINE SEYFERT 1 AS A NEW CLASS OF GAMMA-RAY ACTIVE GALACTIC NUCLEI

We report the discovery with Fermi/LAT of γ-ray emission from three radio-loud narrow-line Seyfert 1 galaxies: PKS 1502+036 (z = 0.409), 1H 0323+342 (z = 0.061), and PKS 2004 − 447 (z = 0.24). In addition to PMN J0948+0022 (z = 0.585), the first source of this type to be detected in γ rays, they may form an emerging new class of γ-ray active galactic nuclei (AGNs). These findings can have strong implications on our knowledge about relativistic jets and the unified model of the AGN.
The Effect of Load Placement on the Power Production Characteristics of Three Lower Extremity Jumping Exercises

Abstract The purpose of this study was to compare the power production characteristics of the jump squat (JS), hexagonal barbell jump (HEXJ), and jump shrug (JShrug) across a spectrum of relative loads. Fifteen resistance-trained men completed three testing sessions where they performed repetitions of either the JS, HEXJ, or JShrug at body mass (BM) or with 20, 40, 60, 80, or 100% of their BM. Relative peak power (PPRel), relative force at PP (FPP), and velocity at PP (VPP) were compared between exercises and loads. In addition, power-time curves at each load were compared between exercises. Load-averaged HEXJ and JShrug PPRel were statistically greater than the JS (both p < 0.01), while no difference existed between the HEXJ and the JShrug (p = 1.000). Load-averaged JShrug FPP was statistically greater than both the JS and the HEXJ (both p < 0.001), while no statistical difference existed between the JS and the HEXJ (p = 0.111). Load-averaged JS and HEXJ VPP were statistically greater than the JShrug (both p < 0.01). In addition, HEXJ VPP was statistically greater than the JS (p = 0.009). PPRel was maximized at 40, 40, and 20% BM for the JS, HEXJ, and JShrug, respectively. The JShrug possessed statistically different power-time characteristics compared to both the JS and the HEXJ during the countermovement and propulsion phases. The HEXJ and the JShrug appear to be superior exercises for PPRel compared to the JS. The HEXJ may be considered a more velocity-dominant exercise, while the JShrug may be a more force-dominant one.
The Consequences of Shadow Economy and Corruption on Tax Revenue Performance in Nigeria

Abstract Shadow economy and corruption are the two harmful activities that do not work in the favour of tax revenue performance. As a result it renders an effective government incapacitated and unable to carry out its social responsibilities. This study considers the effect of the informal economy and graft on tax revenue performance in Nigeria using secondary data that cover a period from 1996 to 2018. This period has been covered by the corruption perception index captured by the Transparency International for Nigeria. Despite the theoretical approaches available in measuring the size of the shadow economy, the ordinary least squares technique is specifically used to perform the multi-regression analysis to arrive at the empirical results which indicate that both the shadow economy and corruption have negative influences on tax revenue performance in Nigeria, although the negative impact of corruption on tax revenue is more robust and significant. Thus, the study suggests among others that the government should step up action against corruption and also address the root causes of shadow economy in order to make the participants of the informal sector willing to formalize their businesses and voluntarily comply with tax payment obligations.
CONSTRUCTIVE INTERFERENCE OF TONAL INFRASOUND FROM SYNCHRONISED WIND FARM TURBINES: EVIDENCE AND IMPLICATIONS

SUMMARY Noise from wind farms is contentious: people who live nearby complain of annoyance, and yet broadband measurements of infrasound seem to indicate the noise is generally not above audibility criteria. The paradox can be resolved by supposing that wind farms generate a strong tonal signal at the blade passing frequency, 0.8 Hz, and that this infrasound, with a wavelength of 400 m, can constructively interfere if two or more wind turbines operate in synchrony and the path lengths differ by a multiple of 400 m. Coherent infrasound at 0.8 Hz could propagate many kilometres, would tend to carry many harmonics due to the rapid changes within its waveform, and the high harmonics in the 20–30 Hz band have the potential to be heard by human ears. The existence of coherent infrasound from wind turbines has not been specifi cally recognised, but evidence of the phenomenon can be discerned in two anomalies contained in data from recent infrasound monitoring of wind farms in South Australia. This paper interprets the anomalies in terms of a model which suggests that wind farms produce enhanced sound pressure levels when the blades of multiple machines become mutually entrained and the sound from them becomes coherent. The inference is that acoustic measures, which assume wind turbine signals are stationary, may not be accurate indicators of peak noise levels. BACKGROUND
The Role of Thought Suppression in the Bonding of Thought and Mood

The idea that thought suppression creates a unique bond between the suppressed item and one's mood state, such that the reactivation of one leads to the reinstatement of the other, was examined. In Experiment 1, subjects who were induced by music to experience positive or negative moods reported their thoughts while trying to think or not think about a white bear. When all subjects were subsequently asked to think about a white bear, those who were in similar moods during thought suppression and later expression displayed a particularly strong rebound of the suppressed thought. In Experiment 2, subjects' moods following the expression of a previously suppressed or expressed thought were assessed. Analysis of the mood reports showed that subjects who had initially tried to suppress their thoughts experienced a reinstatement of the mood state that existed during the initial period of suppression. Suppressing a thought, at least on the face of it, seems uncomplicated enough. All one needs to do is think of other things. Unfortunately, people often find suppression so difficult that they need to think of other things again and again. As each new distracter fails, they keep trying to find new ones, and in this process they sample an unusually wide selection of the experiences and memories that are currently on their minds. Often these efforts to suppress thoughts coincide with strong emotional states, and people's selection ofdistracters will inevitably be colored by these feelings. The striking result of this process is that the suppressed thought becomes bonded to the mood state they were experiencing at the time they suppressed it. Our research was designed to test this reasoning in two ways. First, if suppression of a thought bonds thought and mood, later occurrences of the mood should promote the return of the suppressed thought. This was the concern of Experiment I. The focus of Experiment 2 was a test of the complementary hypothesis: Suppression of a thought during a mood should make it likely that when the thought is later expressed, the mood state will return. To understand how suppression can produce an enhanced connection between thought and mood, it is necessary to examine what occurs when one tries to eliminate a thought. Obviously, conscious awareness precludes the elimination of thought entirely--one must think about something. Thus, the essence of successful suppression is turning the focus of one's attention away from the unwanted item and toward other thoughts. In
Warm winter spells in the Swiss Alps: Strong heat waves in a cold season? A study focusing on climate observations at the Saentis high mountain site

Investigations conducted for several Swiss mountain climatological sites, and in particular the Saentis high mountain site at 2,500 m above sea level, show that positive temperature anomalies during the winter season currently exceed those of all other seasons. These “heat waves” exhibit daily maximum temperature anomalies sometimes in excess of 16°C, and are observed to have increased substantially since the late 1960s. These events are related to the North Atlantic Oscillation (NAO) that exerts significant controls on snow cover and surface‐atmosphere temperature feedbacks in the alpine region. A glimpse to the future is provided for the period 2071–2100, based on regional climate model simulations which suggest that warm winter spells may increase by 30%. The impacts of such events, particularly in terms of snow and water availability and the mountain economies that depend on these resources, need to be incorporated into future strategic resource and economic planning in the Alps.
Notetaking and Writing from Hypertexts in L1 and L2

Abstract This study analyzes the cognitive effort and linguistic procedures of sixty students using information taken from an experimental website in L1 (French) and in L2 (English). The students navigated on the website and took notes on paper or with a word processor. A triple-task paradigm was used to estimate the cognitive load of reading, notetaking, and writing processes in L2. The students had to perform two additional tasks while a main task (notetaking, for example) was being carried out. They had to react as fast as possible to sound signals sent out at random intervals. They also had to identify what they were doing at the time the sound signal was heard (reading, notetaking, or writing). The study focuses on the way the students managed their cognitive resources while exploring the website, selecting and writing down the ideas they considered useful, and reconstructing them later when producing their own text. Surprisingly, no difference in cognitive load was observed between L1 and L2. By relying almost exclusively on the copy and paste functions to retrieve information from the website, the participants using a word processor in L2 succeeded in making reading a less costly activity, and they performed similarly to the notetakers in L1. The students’ difficulties in L2 became apparent only in the paper condition. The strategies and linguistic procedures of the students are described and related to the ways teachers can approach the new dimensions of notetaking and writing with a computer.
Classical analog of entanglement

We show that quantum entanglement has a very close classical analog, namely, secret classical correlations. The fundamental analogy stems from the behavior of quantum entanglement under local operations and classical communication and the behavior of secret correlations under local operations and public communication. A large number of derived analogies follow. In particular, teleportation is analogous to the one time pad. the concept of "pure state" exists in the classical domain, entanglement concentration and dilution are essentially classical secrecy protocols, and single-copy-entanglement manipulations have such a close classical analog that the majorization results are reproduced in the classical setting. This analogy allows one to import questions from the quantum domain into the classical one, and vice versa, helping to get a better understanding of both. Also, by identifying classical aspects of quantum entanglement, it allows one to identify those aspects of entanglement that are uniquely quantum mechanical.
Englacial drainage systems formed by hydrologically driven crevasse propagation

Recent work has shown that surface-to-bed drainage systems re-form annually on parts of the Greenland ice sheet and some High Arctic glaciers, leading to speed-up events soon after the onset of summer melt. Surface observations and geophysical data indicate that such systems form by hydrologically driven fracture propagation (herein referred to as 'hydrofracturing'), although little is known about their characteristics. Using speleological techniques, we have explored and surveyed englacial drainage systems formed by hydrofracturing in glaciers in Svalbard, Nepal and Alaska. In Hansbreen, Svalbard, vertical shafts were followed through � 60 m of cold ice and � 10 m of temperate basal ice to a subglacial conduit. Deep hydrofracturing occurred at this site due to a combination of extensional ice flow and abundant surface meltwater at a glacier confluence. The englacial drainage systems in Khumbu Glacier, Nepal, and Matanuska Glacier, Alaska, USA, formed in areas of longitudinal compression and transverse extension and consist of vertical slots that plunge down-glacier at angles of 558 or less. The occurrence of englacial drainages initiated by hydrofracturing in diverse glaciological regimes suggests that it is a very widespread process, and that surface-to-bed drainage can occur wherever high meltwater supply coincides with ice subjected to sufficiently large tensile stresses.