Miracle-dz/UniFAR-FTUs huggingface dataset:
The Impact of Ownership Concentration, Commissioners on Bank Risk and Profitability: Evidence from Indonesia

We investigate corporate governance and risk in Indonesian banking. More specifically, we investigate whether ownership concentration and commissioners affect bank risk and profitability. Using a sample of 117 Indonesian banks (for ownership concentration analysis), and 28 public banks (for commissioner analysis), we find that ownership concentration and governance by larger numbers of commissioners improves a bank’s profitability and it’s handling of risk. The impact of commissioners on bank risk and profitability takes non-linear forms. We also show that various types of commissioners have different impacts on bank risk and profitability. Our study highlights the importance of corporate governance in the banking industry.
Innovations in Corporate Governance: The Mondragon Experience

The stakeholder co-operatives formed around the town of Mondragon in the Basque region of Spain have been outstandingly successful on a number of measures in comparison with other forms of firms. The control architecture within and between Mondragon firms contains a number of innovations and lessons for developing the theory and practice of corporate governance. This paper outlines the 38 year evolution of Mondragon worker and consumer co-operatives and their innovative governance structures. The control and incentive architecture of Mondragon firms was custom designed according to the nature of both their activities and their principal stakeholders. The resulting unique control arrangements and outstanding performance supports the hypothesis that the structure of governance is a determinant of sustainable competitive advantages. The evolution of Mondragon firms also illustrates the need to consider corporate architecture as a variable at any one time or over time. The Mondragon experience illustrates how the social research approach of 'action science' can be used to create competitive enterprises. The paper recommends this approach for developing the theory and practice of corporate governance.
Emergence of fluoroquinolone resistance in Campylobacter jejuni and Campylobacter coli in subjects from Finland

The in vitro susceptibilities of 102 human campylobacter strains isolated between 1978 and 1980 and 100 strains isolated in 1990 to ciprofloxacin, norfloxacin, erythromycin, gentamicin, and doxycycline were examined. The biotypes and heat-stable serotypes of the strains as well as antimicrobial treatments and travel history of the campylobacter-positive patients were also studied. The results indicated that susceptibility to erythromycin, gentamicin, and doxycycline has remained the same during the past 10 years. No gentamicin-resistant strains were found. Resistance to erythromycin was 3% in both groups of strains. However, the number of norfloxacin-resistant strains increased from 4 to 11% in the follow-up period, and ciprofloxacin-resistant strains, which had not occurred 10 years ago, composed 9% of the strains isolated in 1990. Thus, the increase of fluoroquinolone resistance in Campylobacter jejuni and Campylobacter coli has been significant in Finland in the past 10 years.
The role of covenants in bond issue and investment policy. The case of Russian companies

This study examines the use and determinants of covenants in public debt issued by Russian companies. On the basis of issue characteristics, firm characteristics and systemic risk variables, we investigate that the likelihood of including covenants clause in financial contracts is positively related to the riskiness of bond issues. Us- ing a hand-collected database of Russian firms that place bonds both in domestic and Eurobond market, we provide evidence that the covenant protection in Euro- bond market has a positive impact for those firms that issue in Russian market, with a reduction in covenant intensity. We document that a negative relation be- tween offering yield and the presence of covenants which is consistent with the costly contracting hypothesis (CCH) is registered only in Eurobond market. We al- so find a non linear relation between investment and covenant protection for the firm that issue in Russian market, indicating a possible optimal covenant protec- tion for a bond issue.
Antimicrobial effect of platelet-rich plasma and platelet-rich fibrin

Context: Platelet concentrates have been extensively used in a variety of medical fields to promote soft- and hard-tissue regeneration. The significance behind their use lies in the abundance of growth factors (GFs) in platelets α-granules that promote wound healing. Other than releasing a pool of GFs upon activation, platelets also have many features that indicate their role in the anti-infective host defense. Aim: The aim of this study is to evaluate the antimicrobial activities of platelet-rich plasma (PRP) and platelet-rich fibrin (PRF) against periodontal disease-associated bacteria. Subjects and Methods: Blood samples were obtained from ten adult male patients. PRP and PRF were procured using centrifugation. The antimicrobial activity of PRP and PRF was evaluated by microbial culturing using bacterial strains of Porphyromonas gingivalis and Aggregatibacter actinomycetemcomitans. Results: P. gingivalis and A. actinomycetemcomitans were inhibited by PRP but not by PRF. Conclusions: PRP is a potentially useful substance in the fight against periodontal pathogens. This might represent a valuable property in adjunct to the enhancement of tissue regeneration.
Psychological stress in sports coaches: A review of concepts, research, and practice

Abstract Sports coaches operate within a complex, ever-changing environment that imposes many pressures on them. Here, we address the psychological impact of these demands via a critical review of the literature pertaining to stress in sport coaches. The narrative is divided into three main sections: (1) conceptual and definitional issues, (2) theoretical and empirical issues, and (3) implications for applied practice. The review focuses on the environmental stressors that coaches encounter, their appraisals of and responses to these demands, and the impact this has on their personal well-being and job performance. The influence of various personal and situational characteristics is also discussed. A key message to emerge from this review is that the potential health and performance costs of psychological stress to sports coaches are significant. The rapid rate of change in contemporary sport and the dynamic nature of stress mean that stress in coaches is an ongoing problem that needs to be monitored and addressed.
Is the CAPM a Biased Estimator of Market Risk?

The Capital Asset Pricing Model (CAPM) is often used to determine an appropriate return on equity for regulated utilities. However, the CAPM will sometimes produce unrealistically high or low results during times of excess market volatility. I hypothesize that these results do not indicate a failure in the model itself. Instead, they are caused by the traditional implementation of the CAPM and the underlying definition of risk used by many financial theorists.My paper uses 1997-2001 data to provide an empirical comparison of betas generated in a manner consistent with the capital asset pricing model (CAPM betas) to betas generated using a method based on market losses (“Alternative Betas”). I use psychological literature and a mathematical example to suggest that when a loss-based notion of risk is used, only those observations in which the market declines constitute market risk; and that the CAPM is a systematically biased estimator of market risk because the variability of gains receive the same weight as the variability of losses.In the CAPM world, there are only two types of risk: market risk (measured by beta), and firm-specific risk; with the assumption that only market risk will be rewarded since firm specific risk can be diversified away. The CAPM assumes that the market is mean-variance efficient; predicts that the constant term will be 0; and predicts that a security's risk premium is proportional to both beta and the risk premium of the market portfolio (Bodie, 1996). Mathematically, the risk premium is equal to β[E(rM) − rf], where rM is the market return and rf is the risk-free rate.In the 30 years since the initial publication of the CAPM, there have been numerous criticisms of the model in the financial literature. Studies have suggested that the CAPM is not testable because the composition of the true market portfolio is unknown (Roll, 1977); the constant term is positive and significant (Miller and Scholes, 1972); the estimated risk premium is significantly lower than the actual risk premium (Black, Jensen, and Scholes, 1972); non-systematic risk has a significant effect on excess returns (Lintner, 1965b); and the expected return-beta relationship is not fully consistent with empirical observations (Fama and MacBeth, 1973).
Understanding the differences in Korean and U.S. executives' strategic orientations

Competitive positioning in a global market requires an understanding of the decision processes and behavioral attributes of executives from different countries. These attributes reflect the executives’ cultural background, the national policies under which they have worked, and their home country’s level of economic development (institutional context). The current research compared strategic decision models of U.S. and Korean executives and the results suggest that criteria employed by the executives from the two countries differ. Differences in institutional context between Korea and the U.S.A. were reflected in the weightings of objective criteria used by the executives. Korean executives emphasized industry attractiveness, sales and market share (because of policies that encourage growth) and U.S. executives emphasized projected demand, discounted cash flow and ROI (because of policies and institutions that focus on profitability). The results suggest the importance of understanding the strategic orientations of international competitors, partners in international strategic alliances and managers of international subsidiaries or divisions. © 1997 by John Wiley & Sons, Ltd.
Changes in plasma catecholamines after tonic‐clonic seizures

Concentrations of circulating catecholamines increase after induced seizures in animals and electroconvulsive therapy in humans. We measured plasma epinephrine and norepinephrine concentrations after a single spontaneous tonic-clonic convulsion in 17 patients to determine whether similar changes occur and to determine their magnitude. Plasma epinephrine and norepinephrine rose sharply within 30 minutes of the seizure and then declined rapidly. The norepinephrine response was attributed to generalized sympathetic neural activation and was sufficient to exert a direct vasoconstrictor effect. The epinephrine response was presumably due to adrenal activation and was large enough to have cardiovascular or metabolic consequences.
From Mediate and Moderate View to Untangle the Relationship among Product Innovation Performance, Cross-Functional Cooperation and Quality Practices

This study advances research on quality practices and product innovation performance by examining how critical quality practices and cross-functional cooperation will influence innovation, under the process of mediation and moderation of knowledge integration mechanism. Based on 344 effective respondents from three categories of Taiwan's companies: bicycles, motors, manufacturing, the evidence indicates that quality objective will be the potent drivers of product innovation performance. In addition, managers need to make efforts to lessen the negative impact that derive from the sticky standardization procedures of ISO 9000 they may stifle the creativity of employee. Lastly, the evidence supports that the influence created by cross-functional cooperation on product innovation will be strengthened by knowledge integration mechanism.
Socializing to Co-Produce

Success rates of behavior change counseling programs (e.g., weight loss, smoking cessation, and debt management), where consumers seek to overcome their destructive habits and enhance well-being, are very low. Characterized by extended and complex service encounters, the providers of these programs face the challenge of gaining consumers’ compliance to adhere to the programs’ requirements and turning these consumers into effective co-producers of the service outcomes. This study investigates the process of customer organizational socialization in these programs, how it may promote co-production behaviors, and thus enhance consumers’ well-being as well as satisfaction with the organization. The context of debt management programs is used to test the model. Data were obtained from 364 clients of a major credit counseling organization in the United States. The results reveal the differential effects of three aspects of socialization (role clarity, task mastery, and goal congruence) on three different types of consumer co-production behaviors (compliance, individual initiative, and civic virtue). Overall, compliance has the greatest contribution to well-being, while both compliance and individual initiative enhance satisfaction with the organization. Furthermore, consumers with a higher or lower ongoing dependence on the organization have different routes to well-being, with the high-dependence group relying on individual initiative, and the low-dependence group favoring compliance. This study contributes to the literature of co-production, organizational socialization, and consumers’ well-being by showing how these three streams are connected. Managerial and policy implications focus on the need for these organizations to include efforts to ensure that consumers are effectively socialized into the program.
Global Value Chains and the Productivity of Canadian Manufacturing Firms

The paper examines whether the integration of Canadian manufacturing firms into a global value chain (GVC) improves their productivity. To control for the self-selection effect (more productive firms self-select to join a GVC), propensity-score matching and difference-in-difference methods are used. Becoming part of a GVC can enhance firms' productivity, both immediately and over time. The magnitude and timing of the effects vary by industrial sector, internationalization process, and import source/export destination country in a way that suggests the most substantial advantages of GVC participation are derived from technological improvements.
Advance Ordering for Healthier Eating? Field Experiments on the Relationship between the Meal Order–Consumption Time Delay and Meal Content

Encouraging consumers to select meals in advance rather than at mealtime has been proposed as a strategy to promote healthier eating decisions, taking advantage of the improved self-control that is thought to accompany decisions about the future. In two field studies at an employee cafeteria and a third in a university setting, we examine how time delays between placing a lunch order and picking it up affect the healthfulness of that lunch. The first study, a secondary data analysis, finds that longer delays between placing an order and picking up the meal are associated with reductions in calorie content. The second study tests the causality of this relationship by exogenously restricting some lunch orders to be substantially delayed, leading to a marginally significant (approximately 5%) reduction in calories among delayed orders. The third study compares orders for truly immediate consumption versus orders placed in advance and demonstrates a significant (100 calorie, or approximately 10%) reduction in lunch calories. We discuss evidence regarding possible theoretical mechanisms underlying this effect, as well as practical implications of our findings.
Nutritive value and characterization properties of fermented camel milk fortified with some date palm products chemical , bacteriological and sensory properties

Camel milk and dates have been reported to be used for prevention and treatment of various diseases in Arab countries. A total of 40 milk samples after parturition were collected from different zones of Al-Ahsa area, KSA. The analyses of chemical and nutritional values of camel milk were performed. The samples were analysed for total solids, fat, total protein, sugears, ash, minerals as well as vitamins. Results showed 11.90± 0.11% total solids, 2.69± 0.28% protein,3.26± 0.14 % fat, 1.13.22± 0.54 (g/100g), lactose 3.22±0.04%, glucose 3.22±0.07 %. sucrose 1.93. ±0.03% and ±0.04 %0.14 % acidity. The levels of ash, Ca, Mg, Na, vitamin C and B12 were higher. however concentration of Fe, vitamin A was relatively lower. Antimicrobial agents, lactoferrin (LF) were determined and the concentarion was 1.61 ±0.19 mg/ml. Generally, camel milk presented high nutritive and therapeutic applications. Yoghurt made from camel milk was prepared by adding date palm syrup (Depis) to cultured milk. The main objective from this part was to investigate the influence of Depis on chemical characteristics (titrable acidity, total solids, fat, and protein content), microbiological and sensory properties and acceptability of the resultant yoghurt during storage for 21 days at 4° C. Addition of 1, 2.5 and 5 % of Depis did not affect yoghurt pH or protein and fat content, but decreased moisture and increased the total solids significantly. Moreover, addition of Depis improved the viablity and stabilty of satrter cultuer during storage and the total viable counts were 0.67, 7.4, 7.7 and 7.8 ×10-7for control, 1, 2.5 and 5 % of Depis, respectively.Finally, addition of 5% Depis provided yoghurt with desired sensory properties.
Does Changing Leverage Cause Miss-Specification of Long-Run Return Measures in Seasoned Equity Offerings?

We investigate the “new equity puzzle” using an approach that allows us to analyze the structural change in both alpha and systematic risk after the event. Brav, Geczy, and Gompers (2000) and Eckbo, Masulis, and Nodi (2000) cast doubt on the validity of matched-firm adjusted returns as a measure of post-issue performance. Eckbo et al. (2000) argue that the drop in the leverage of SEO issuers reduces their risk level and may explain their lower post-issue returns compared to their matchers. Using a sample of 3,949 SEO issues between 1985 and 2005, we find that after taking into account the change in their risk profile, SEO firms still exhibit a clear post-issue underperformance over their matchers at short or long run and regardless the level of change in their leverage. Furthermore, we find that SEO firms with the largest decline in leverage, exhibit a larger performance drop over their matchers compared to firms with the largest increase in leverage. However, over the 1 and 3 years post-issue, these SEO firms with the largest decline in leverage, show a lower underperformance over their matchers compared to firms with the largest increase in leverage. On the longer run - over the 5-year period particularly - the picture reverses.
Disentangling the Effects of New Venture Team Functional Heterogeneity on New Venture Performance

Previous research on entrepreneurial teams has failed to settle the controversy over whether team heterogeneity helps or hinders new venture performance. Reconciling this inconsistency, this paper suggests a new conceptual approach to disentangle differential effects of team heterogeneity by modeling two separate heterogeneity dimensions, namely knowledge scope and knowledge disparity. Analyzing unique data on functional experiences of the members of 337 start-up teams, we find support for our contention of team heterogeneity as a two-dimensional concept. Results suggest that knowledge disparity negatively relates to both start-ups' entrepreneurial and innovative performance. In contrast, we find knowledge scope to positively affect entrepreneurial performance, while it shows an inverse U-shaped relationship to innovative start-up performance.
AMERICAN BUSINESSPEOPLE'S PERCEPTIONS OF MARKETING AND NEGOTIATING IN THE PEOPLE'S REPUBLIC OF CHINA

Brunner and Taoka did the first survey of American businesspeople's perceptions of marketing and negotiating in the People's Republic of China in 1975. Because of China's open door policy and her determination to modernise, there have been many changes in US‐China business. Therefore, it is important to conduct an updated survey to furnish another reference point for American businesspeople who want to engage in China business. It was found that the most important observations made in the previous study were still true after ten years. However, there are several obvious changes. For example, PRC trade officials are no longer reluctant to reveal their positions or titles and there are problems of technical incompetence, language barriers, and foreign exchange shortage. There are clear management implications of these findings in mapping out appropriate contemporary marketing and negotiating strategies.
Curriculum Currency: Integrating Direct and Interactive Marketing Content in Introductory Marketing Courses

This study investigates the extent to which educators address direct and interactive marketing concepts in undergraduate introductory marketing courses. As practitioners seek more accountability from their marketing efforts, so too must academia respond with more relevant content. Results from textbook content analysis suggest that direct and interactive marketing content coverage has grown significantly over the past decade, but survey results from marketing faculty indicate coverage in the classroom lags. This study establishes a baseline of the related topic coverage in introductory marketing courses and suggests a variety of teaching resources to integrate direct and interactive marketing content to improve curricular currency without trying to add more to an already “saturated sponge. ”
Numerical resolution of a physical model of flute-like instruments: comparison between different approaches

The study of flute-like instruments involves several subfields of investigation such as acoustics of the waves in the pipe, hydrodynamics of a jet perturbed by an acoustic field and aeroacoustics of a jet/labium interaction. Historically, several models of flute-like instruments have been proposed, including the results from separated studies of the parts mentioned above. In this paper, such a model is written, taking into account the following elements: (1) hydrodynamics of a jet perturbed by an acoustic field, through a delay equation, corresponding to the convection of a perturbation of the jet from the flue exit to the labium, (2) aeroacoustics of a jet/labium interaction, through a nonlinear equation, which highlights the presence of a dipolar pressure source, (3)acoustics of the waves in the pipe, through a modal formulation, (4) nonlinear losses at the labium, through an additional nonlinear term. This description includes two non-linear terms, which require numerical solving. This paper aims at comparing different approaches in terms of the resolution of the non linear equations. The following aspects of the model behaviour are addressed: amplitude/frequency evolution along periodic branches, regime changes, hysteresis.