Miracle-dz/UniFAR-FTUs huggingface dataset:
Self-employment earnings and returns to education in rural Peru

This article estimates the returns to education for households who derive part of their income from household based non-farm self-employment ventures in rural Peru. While education is an individual level variable, earnings are observed at the household level. This asymmetry complicates both the estimation and the interpretation of the returns to education. This article is the first jointly to incorporate three channels through which education affects household earnings. Education affects earnings through the marginal productivity of labour (worker effect), labour allocation across activities (between-activity allocative effect) and its production externality effect (spillover effect). The results suggest that the between-activity allocative effects of education dominate the returns. This article also makes novel use of economic geography to proxy for the role that access to markets plays in determining these returns. In particular, altitude is a strong predictor of activity choice and the returns to education in this mountainous country.
End-sequence profiling: Sequence-based analysis of aberrant genomes

Genome rearrangements are important in evolution, cancer, and other diseases. Precise mapping of the rearrangements is essential for identification of the involved genes, and many techniques have been developed for this purpose. We show here that end-sequence profiling (ESP) is particularly well suited to this purpose. ESP is accomplished by constructing a bacterial artificial chromosome (BAC) library from a test genome, measuring BAC end sequences, and mapping end-sequence pairs onto the normal genome sequence. Plots of BAC end-sequences density identify copy number abnormalities at high resolution. BACs spanning structural aberrations have end pairs that map abnormally far apart on the normal genome sequence. These pairs can then be sequenced to determine the involved genes and breakpoint sequences. ESP analysis of the breast cancer cell line MCF-7 demonstrated its utility for analysis of complex genomes. End sequencing of ≈8,000 clones (0.37-fold haploid genome clonal coverage) produced a comprehensive genome copy number map of the MCF-7 genome at better than 300-kb resolution and identified 381 genome breakpoints, a subset of which was verified by fluorescence in situ hybridization mapping and sequencing.
Risk, Timing and Overoptimism in Private Placements and Public Offerings

We examine whether risk, timing or mispricing hypotheses can explain the underperformance of private and public equity issuers, in Canada, where both categories share several common characteristics. Adding an investment risk factor to the TFPM reduces, but does not eliminate, the underperformance. Four arguments, including financial constraints and poor operating performance, do not support the timing hypothesis. Our results for their part support the mispricing hypothesis. The market correctly assesses the investment projects of value firms, but tends to overestimate those of glamour firms. For both types of issues, the underperformance is explained by investors' overoptimism relative to glamour/high-investment firms. Nous tentons de verifier laquelle des hypotheses de risque, de timing ou d'irrationalite peut expliquer la sous performance a long terme des emetteurs de placement prives et public au Canada, ou ces deux types de financement ont en commun plusieurs caracteristiques. L'ajout d'un facteur d'investissement au modele a trois facteurs reduit, mais n'elimine pas, cette sous performance. Quatre arguments, incluant ceux des contraintes financieres et de la faible performance operationnelle contredisent l'hypothese du timing. Nos resultats tendent a confirmer l'hypothese de l'irrationalite. Le marche evalue correctement les projets d'investissement des societes de valeur, mais sur estime ceux des titres de croissance. Pour les deux types de financement, la sous performance est expliquee par le sur optimisme des investisseurs au sujet des entreprises de croissance a fort niveau d'investissement.
Analysis of Mason-Pfizer Monkey Virus Gag Domains Required for Capsid Assembly in Bacteria: Role of the N-Terminal Proline Residue of CA in Directing Particle Shape

ABSTRACT Mason-Pfizer monkey virus (M-PMV) preassembles immature capsids in the cytoplasm prior to transporting them to the plasma membrane. Expression of the M-PMV Gag precursor in bacteria results in the assembly of capsids indistinguishable from those assembled in mammalian cells. We have used this system to investigate the structural requirements for the assembly of Gag precursors into procapsids. A series of C- and N-terminal deletion mutants progressively lacking each of the mature Gag domains (matrix protein [MA]-pp24/16-p12-capsid protein [CA]-nucleocapsid protein [NC]-p4) were constructed and expressed in bacteria. The results demonstrate that both the CA and the NC domains are necessary for the assembly of macromolecular arrays (sheets) but that amino acid residues at the N terminus of CA define the assembly of spherical capsids. The role of these N-terminal domains is not based on a specific amino acid sequence, since both MA-CA-NC and p12-CA-NC polyproteins efficiently assemble into capsids. Residues N terminal of CA appear to prevent a conformational change in which the N-terminal proline plays a key role, since the expression of a CA-NC protein lacking this proline results in the assembly of spherical capsids in place of the sheets assembled by the CA-NC protein.
European Integration and the Transnational Restructuring of Social Relations: The Emergence of Labour as a Regional Actor?

Informed by a neo-Gramscian perspective able to conceptualize transnational class formation, this article assesses whether European trade union organizations have developed into independent supranational actors, or whether they are merely secretariats in charge of organizing the co-operation of their national member associations. The first hypothesis is that those trade unions which organize workers in transnational production sectors, are likely to co-operate at the European level, because they have lost control over capital at the national level. Trade unions, organizing workers in domestic production sectors, may be more reluctant because their sectors still depend on national protection. The second hypothesis is that trade unions are more likely to co-operate at the European level if they perceive such an engagement as furthering their influence on policy-making in comparison with structural possibilities at the national level. Additionally, in line with the critical dimension of neo-Gramscian perspectives, it will be assessed whether European co-operation implies acceptance of neo-liberal economics, or whether unions continue to resist restructuring.
Stock Market Openings: Experience of Emerging Economies

This article is an exploratory examination of the benefits and risks associated with opening of stock markets. Specifically, we estimate changes in the level and volatility of stock returns, inflation, and exchange rates around market openings. We find that stock returns increase immediately after market opening without a concomitant increase in volatility. Stock markets become more efficient as determined by testing the random walk hypothesis. We find no evidence of an increase in inflation or an appreciation of exchange rates. If anything, inflation seems to decrease after market opening as do the volatility of inflation and volatility of exchange rates. Copyright 2000 by University of Chicago Press.
Endosialin Protein Expression and Therapeutic Target Potential in Human Solid Tumors: Sarcoma versus Carcinoma

Purpose: Endosialin/CD248/tumor endothelial marker 1 is expressed in stromal cells, endothelial cells, and pericytes in various tumors; however, few studies have focused on expression in malignant cells. Experimental Design: We studied expression of endosialin in clinical specimens, cell culture, and animal models and designed an anti-endosialin therapeutic prototype. Results: Fifty human tumor cell lines and 6 normal cell types in culture were assayed by reverse transcription-PCR and/or flow cytometry for endosialin. Cell surface protein was found on 7 sarcoma lines, 1 neuroblastoma, and 4 normal cell types in culture. A fully human anti-endosialin antibody bound to human A-673 Ewing's sarcoma cells and SK-N-AS neuroblastoma cells but not HT-1080 cells. Exposure of cells to an anti-human IgG conjugated to saporin resulted in growth inhibition only of endosialin-expressing cells. Endosialin expression was assessed by immunohistochemistry in 250 clinical specimens of human cancer including 20 cancer subtypes. Endosialin is frequently found in human cancers. Endosialin expression is mainly a perivascular feature in carcinomas, with some expression in stromal cells. In sarcomas, endosialin is expressed by malignant cells, perivascular cells, and stromal cells. Development and characterization of experimental models for studying endosialin biology in sarcomas and evaluating anti-endosialin therapies is presented. Conclusions: Findings suggest that an anti-endosialin immunotoxin might be a promising therapeutic approach for endosialin-positive neoplasia, especially synovial sarcoma, fibrosarcoma, malignant fibrous histiocytoma, liposarcoma, and osteosarcoma. Thus, a diagnostic/therapeutic targeted therapeutic approach to treatment of endosialin-expressing tumors may be possible.
On the Impact of Competition on Trade and Firm Location

We study how the level of trade costs and the intensity of competition interact to explain the nature and intensity of trade within a given industry and the location of firms across countries. As trade costs decrease from very high to very low values, the global economy moves from autarky to two-way trade, through one-way trade from the larger to the smaller region. By exploring the intensive and extensive margins of exports, we investigate how the intensity of trade reacts to the degree of competitiveness. Furthermore, when firms are free to change location, they flow from the small to the large country, and the larger country is always a net exported on the manufactured good. Firms located in the big country have a bigger size than those located in the small one. Under one-way trade, the relocation of firms changes their attitude toward export.
Cross-Country Price Dispersion in the Euro Era: A Case Study of the European Car Market

type="main" xml:lang="en"> This paper investigates the effects of the European monetary union on cross-country price differences in the European car market. The analysis utilizes disaggregate, bi-annual data on the prices of almost all car models sold in the 15 countries of the European Union over 1993–2003. The data refer to identical models, with identical specifications and options. To identify the euro's effect, we exploit the fact that out of the 15 countries in our sample, 12 joined Euroland at the beginning of 1999 and officially adopted the euro as their national currency at the beginning of 2002, while 3 countries remained outside the monetary union. We investigate whether there is a systematic difference in the evolution of cross-country price dispersion between Euroland members and non-members after 1999. Our analysis distinguishes between Phase I (monetary union with national currencies preserved, 1999–2001) and Phase II (official adoption of the euro as a national currency in 2002). We examine the evolution of both the absolute price differentials across countries, and the speed with which deviations from the long-term cross-country differentials are eliminated. We find that in the pre-euro era, countries that later joined Euroland exhibited lower price differentials relative to the base country of the Netherlands, by approximately 6%. The monetary union further reduced these differentials by a small but significant percentage (about 1.5%) between 1999 and 2001; this reduction happened while the price differentials in non-Euroland countries increased. The price differentials in Euroland countries further decreased following the official euro adoption in 2002. However, we cannot attribute this decline to the euro, as we witness an even faster decrease of price differentials in non-Euroland countries over the 2002–2003 period. Despite these reductions, cross-country price differences remain large, even among members. Regarding the speed of convergence, we find that even before 1999 the half-life of price shocks was shorter in Euroland countries compared to non-Euroland countries (0.65 versus 1 year). However, we do not find any evidence that the EMU further affected the speed of convergence in a significant manner. Overall, our results suggest a big role for exchange rate stability in reducing international price dispersion and a smaller role for a common currency. The surprisingly high remaining international price differentials after the euro suggest the need for additional measures towards integration (e.g., liberalization of the distribution system, reduction of high registration taxes in particular countries). — Pinelopi Koujianou Goldberg and Frank Verboven
UNEMPLOYMENT, EMPLOYMENT AND LABOUR-FORCE PARTICIPATION IN KHAYELITSHA/MITCHELL'S PLAIN

This paper provides a rough guide to the labour force in Khayelitsha/Mitchell's Plain with a particular focus on unemployment. The task is partly conceptual (a discussion is provided on statistical norms for measuring unemployment) and partly empirical. Data is drawn from the 2000/2001 Khayelitsha Mitchell's Plain (KMP) survey, which was designed mainly to explore various dimensions of labour market attachment amongst African and coloured people in Cape Town. This survey covered the magisterial district of Mitchell's Plain which includes the African townships of Khayelitsha, Gugulethu and Langa; it is not a representative sample of the Cape Town metropolitan area but rather of working class (predominantly African and coloured) Cape Town. In the discussion that follows, reference is made to the questionnaire. The Stata 'do file's (which generated the results) are available on request. Part 1 of the paper outlines the standard labour force approach to labour statistics and points to areas where standard definitions can usefully be extended or supplemented. Part 2 continues the discussion, but with reference to employment and unemployment in KMP. A distinction is drawn between the strict and broad definitions of unemployment and an intermediate definition of unemployment (which includes active job seekers and those seeking jobs exclusively through social networks) is introduced. Part 3 examines the nonlabour- force participants. Part 4 expands the scope of the labour force by adjusting some of the statistical requirements used in earlier approaches. Using this expanded approach, Part 5 continues the exploration of different dimensions of unemployment.
Privatisation, politics, and economic performance in Hungary

Why do some privatisations apparently fail to produce expected positive results? Economic theory tells us that privatisation should improve efficiency, but this book, originally published in 1998, suggests that political bargaining in the process of privatisation works against the results we expect to achieve. To gain a better understanding of what privatisation is really about, power at a firm level needs to be understood. Privatisation is a gradually unfolding, evolutionary process, often with defective corporate governance. Politicking can take priority over performance, with the result that efficiency is ignored and profitability is affected. This is a comprehensive book on privatisation which focuses on micro-level behavioural issues and it uses exceptionally rich case evidence to illustrate that privatisation is more about politics than performance.
Cash Flow Disaggregation and the Prediction of Future Earnings

We examine the incremental information content of the components of cash flows from operations (CFO). Specifically the research question examined in this paper is whether models incorporating components of CFO to predict future earnings provide lower prediction errors than models incorporating simply net CFO. We use Australian data in this setting as all companies were required to provide information using the direct method during the sample period. We find that the cash flow components model is superior to an aggregate cash flow model in terms of explanatory power and predictive ability for future earnings; and that disclosure of non-core (core) cash flows components is (not) useful in both respects. Our results are of relevance to investors and analysts in estimating earnings forecasts, managers of firms in regulators’ domains where choice is provided with respect to the disclosure of CFO and also to regulators’ deliberations on disclosure requirements and recommendations.
What moves stock prices?

This paper estimates the fraction of the variance in aggregate stock returns that can be attributed to various kinds of news. First, we consider macroeconomic news and show that it is difficult to explain more than one third of the return variance from this source. Second, to explore the possibility that the stock market responds to information that is omitted from our specifications, we also examine market moves coincident with major political and world events. The relatively small market responses to such news, along with evidence that large market moves often occur on days without any identifiable major news releases, casts doubt on the view that stock price movements are fully explicable by news about future cash flows and discount rates.
Why Do Workers Join Unions? The Case of Israel

The author argues that because almost all Israeli wage earners were covered by collective agreements in the early 1980s, neither the “collective voice” hypothesis nor the earnings premium hypothesis—the two prevailing explanations of workers' decision to join unions—was then applicable to Israel. Using 1982 survey data on Israeli workers, he examines four alternative explanations of unionization in Israel: non-work benefits; political ideology; social values, especially workers' attitude toward unions as a means for solidarity; and work and demographic attributes, such as employing unit size, gender, ethnicity, education, and age. He finds that Israeli workers' decision to join the Israeli Federation of Labor—the Histadrut—can be explained in part by non-work benefits of the Histadrut (health insurance and legal aid, for example) and by the workers' social values.
Corporate Governance and Competitive Advantage in Family–Controlled Firms

Recent attempts to identify the basis of family–controlled firms’ competitive advantage have drawn upon the resource–based view of the firm. This article supplements these efforts and advances the argument that family–controlled firms’ competitive advantage arises from their system of corporate governance. Systems of corporate governance embody incentives, authority patterns, and norms of legitimation that generate particular organizational propensities to create competitive advantages and disadvantages. For comparative purposes, the characteristics of managerial, alliance, and family governance are reviewed. The impact of a family's control rights over a firm's assets generates three dominant propensities (parsimony, personalism, and particularism). These propensities give advantages in scarce environments, facilitate the creation and utilization of social capital, and engender opportunistic investment processes. The experience of family–controlled firms in emerging markets is drawn upon to illustrate the argument.
Work Redesign: Rhetoric vs Reality

This paper reviews the growing popularity of self-managing teams as an approach to work design in contemporary organizations. The main characteristics of self-managing teams are outlined and examples of workplace change involving self-managing teams in several large Australian organizations are given. Evidence as to the effectiveness of self-managing teams is reviewed, along with theoretical explanations for their impact on performance, and employee attitudes and behaviour. It is concluded that self-managing teams are not necessarily required in all organizational contexts and that there are potential (though not insurmountable) difficulties arising from their use.
Accounting Educators as the Accounting Profession’s Trustees: Lessons from a Study of Peer Professions

ABSTRACT: The past decade has been a difficult period in the history of the accounting profession in the U.S. This challenging environment provides an opportunity for the accounting academy, acting as “trustees” for the integrity of the profession, to play a significant role in sustaining and enhancing the profession’s status as a profession. Generally, accounting educators play this role in two ways: through our practice-related scholarship and through our teaching. This paper draws on a recent comparative study of peer professions to offer insights to accounting educators as we seek to sustain the accounting profession specifically through our teaching. One key insight is that accounting education, as professional education, must be broadly formative, encompassing three broad spheres of professional preparation: technical knowledge, practice skills, and, of critical importance, normative purpose and professional identity. Other insights relate to the use of “signature images” of professional identity an.
Property Size and Risk: Why Bigger is Not Always Better

This study takes the first step by comparing the risk-return profiles of four property size categories: less than $20 million, $20 million to $40 million, $40 million to $100 million, and $100 million and over. The conventional wisdom regarding the largest properties (referred hereafter as trophy properties) is that they ensure stability or represent "blue chip” investments. The results of this study cast doubt on that conventional wisdom and show that this class of properties performs differently than smaller commercial real estate assets. Over the full 19 year period covered by this study (1981-1998), as well as in the four phases of the cycle embedded in the period, trophy properties generally evidenced significantly higher volatility accompanied by higher average annual returns, but this was not always the case. Further analysis also demonstrated that the greater volatility of these properties is not solely an appraisal effect. Greater volatility also is evidenced in the income returns of these properties. In order to maximize their return, however, investors need to have in place an explicit exit strategy and the discipline to execute that strategy. With respect to their covariance, trophy and non-trophy property performance is correlated . 85 (p<.05) over the period studied. This suggests some potential portfolio diversification benefits.
Interrupted Presidencies in Third Wave Democracies

Since 1974, popularly elected presidents in a number of Third Wave democracies have resigned or been removed from office, casting doubt on classic assumptions about the inflexibility of presidential terms. Accounting for this pattern of interruptions has been difficult, however, since some cross-national studies rely on limited samples and some yield conflicting results. We reexamine the sources of presidential interruptions in new democracies from 1974 through 2003. We find several factors that increase presidential vulnerability: lack of partisan resources in congress, a low share of the first-round vote, an imbalance in presidential power, a declining economy, and public mobilization against the incumbent. We also find that presidential survival is separate from democratic survival in most regions of the world. Presidents may fall, but democratic governments usually continue. Democratically elected presidents in sub-Saharan Africa, however, tend to be removed by force, with the result that democracy itself is more likely to be suspended.