Miracle-dz/UniFAR-FTUs huggingface dataset:
Central bank independence and its impact on the macroeconomic performance. Evidence from Romania before and after crisis

This paper aims to approach an overheated topic in the context of dynamic economies and modern democracies, namely the central bank independence related to the adopted monetary policy strategy, as well as their impact on the good functioning of the economy. The independence of the central bank (CBI) is a pillar for the effectiveness of the monetary policy, providing the premise of a credible and depolitised institution. To put it differently, a high level of CBI may be linked to a smaller level of corruption and political interference; therefore, the central bank has an appropriate margin of manoeuvre, which increases financial stability. The central bank independence has been measured under various forms after signing the Maastricht Treaty in 1992, but the initiators are Cukierman and GMT, who provided the fundamental indices. Measuring the central bank autonomy both legally (de jure) and informally (de facto) represents a complex endeavour in a dynamic and volatile socio-economic context. This paper’s objective is to calculate CBI starting from the CUK and GMT indices, but also to empirically approach the relationship between CBI and macroeconomic performance, namely price stability and output (GDP). Hence, the study starts from the hypothesis of a correlation between the GDP and CBI, on the one hand, and between inflation and CBI, on the other hand. Numerous studies have shown an insignificant positive correlation between independence and GDP, and also the fact that a negative correlation between inflation and CBI is not generally valid. Accordingly, this paper aims to demonstrate whether CBI is a viable determinant of growth and inflation volatility. The analyzed time series encompass the 2007-2016 period of time and the subject of the research is the National Bank of Romania, whose credibility in the postcrisis era is high, due to the lack of bank failures and to the general stability and soundness of the banking system.
Information-based imitation of university commercialization strategies: The role of technology transfer office autonomy, age, and membership into an association

We investigate whether university technology transfer offices, that is, divisions responsible for the commercialization of academic research, imitate their industry peers when designing their commercialization strategy. We borrow from information-based theories of imitation and the literature on academic entrepreneurship to argue that given a technology transfer office’s autonomy to strategize independently from its parent university, information from within and outside the technology transfer office affects its propensity to imitate the commercialization strategy of the “most successful peers,” that is, those with the largest live spinoff portfolio and greatest revenues from spinoffs in the industry. We contend that a technology transfer office’s experience, that is, a function of its age, represents a key internal source of information for the technology transfer office when deciding whether to imitate or not; we also consider the technology transfer office’s embeddedness in a network where the most successful peer is also a member as a key external source of information. From data on 86 British university technology transfer offices and their commercialization strategies between 1993 and 2007 that were drawn from both secondary sources and in-depth interviews with technology transfer office managers, we find that there is a negative relationship between technology transfer offices’ autonomy and their level of imitation of the most successful technology transfer office’s strategy, and that this relationship is moderated by the technology transfer offices’ age and by their membership into an association where the most successful technology transfer office is also a member.
Economic Development and Cultural Change Natural Resources and Conflict in Africa: What Do the Data Show?

The empirical relationship between natural resources and conflict in Africa is not very well understood. Using a novel geocoded dataset we are able to construct a quasinatural experiment to explore the causal effects of oilfield and mineral discoveries on intra-state armed conflict in Africa at the grid-cell level corresponding to a spatial resolution of 0.5 x 0.5 degrees latitude and longitude. We find no evidence of resource discoveries triggering conflict after controlling for property rights institutions, past discoveries, grid-cell and year fixed effects, grid-cell specific trends, and country-year fixed effects. Resource discoveries are associated with improved local living standards and increased political patronage both of which reduce conflict. We observe little or no heterogeneity in the relationship across resource types, discovery size, distance to discovery and borders, and institutions. The relationship remains unchanged at higher grid-cell resolution, and regional and national levels. Powered by Editorial Manager® and ProduXion Manager® from Aries Systems Corporation
The effect of context on the activation and processing of word meaning over time

The aim of this thesis is to study the effect that linguistic context exerts on the activation and processing of word meaning over time. Previous studies have demonstrated that a biasing context makes it possible to predict upcoming words. The context causes the pre-activation of expected words and facilitates their processing when they are encountered. The interaction of context and word meaning can be described in terms of feature overlap: as the context unfolds, the semantic features of the processed words are activated and words that match those features are pre-activated and thus processed more quickly when encountered. The aim of the experiments in this thesis is to test a key prediction of this account, viz., that the facilitation effect is additive and occurs together with the unfolding context. Our first contribution is to analyse the effect of an increasing amount of biasing context on the pre-activation of the meaning of a critical word. In a self-paced reading study, we investigate the amount of biasing information required to boost word processing: at least two biasing words are required to significantly reduce the time to read the critical word. In a complementary visual world experiment we study the effect of context as it unfolds over time. We identify a ceiling effect after the first biasing word: when the expected word has been pre-activated, an increasing amount of context does not produce any additional significant facilitation effect. Our second contribution is to model the activation effect observed in the previous experiments using a bag-of-words distributional semantic model. The similarity scores generated by the model significantly correlate with the association scores produced by humans. When we use point-wise multiplication to combine contextual word vectors, the model provides a computational implementation of feature overlap theory, successfully predicting reading times. Our third contribution is to analyse the effect of context on semantically similar words. In another visual world experiment, we show that words that are semantically similar generate similar eye-movements towards a related object depicted on the screen. A coherent context pre-activates the critical word and therefore increases the expectations towards it. This experiment also tested the cognitive validity of a distributional model of semantics by using this model to generate the critical words for the experimental materials used.
A Novel Method for Assessing the Spatial Presence of Omnidirectional Videos: Comparing Virtual and Real World

With the development of immersive media technologies, omnidirectional video service has been popularized at an accelerated speed due to the sense of presence it offered. Accurately measuring the user’s subjective sense of presence on virtual reality (VR) devices are urgently required by video service providers and VR device manufacturers to further improve their quality of service. So far, there is no standardized methodology available for the conduction of the subjective experiment toward the user’s sense of presence when viewing omnidirectional videos. In this paper, we designed a novel subjective assessment method, which evaluates the presence of omnidirectional videos where the scenes have been previously experienced in the real world by subjects. In this setup, subjects can easily and accurately form their sense of presence when viewing omnidirectional videos using previous observations of the real environment as references. The experimental results demonstrated that the proposed method is able to obtain reliable quantitative results toward the sense of presence.
Dataset Shift in Machine Learning

Dataset shift is a common problem in predictive modeling that occurs when the joint distribution of inputs and outputs differs between training and test stages. Covariate shift, a particular case of dataset shift, occurs when only the input distribution changes. Dataset shift is present in most practical applications, for reasons ranging from the bias introduced by experimental design to the irreproducibility of the testing conditions at training time. (An example is -email spam filtering, which may fail to recognize spam that differs in form from the spam the automatic filter has been built on.) Despite this, and despite the attention given to the apparently similar problems of semi-supervised learning and active learning, dataset shift has received relatively little attention in the machine learning community until recently. This volume offers an overview of current efforts to deal with dataset and covariate shift. The chapters offer a mathematical and philosophical introduction to the problem, place dataset shift in relationship to transfer learning, transduction, local learning, active learning, and semi-supervised learning, provide theoretical views of dataset and covariate shift (including decision theoretic and Bayesian perspectives), and present algorithms for covariate shift. Contributors: Shai Ben-David, Steffen Bickel, Karsten Borgwardt, Michael Brckner, David Corfield, Amir Globerson, Arthur Gretton, Lars Kai Hansen, Matthias Hein, Jiayuan Huang, Takafumi Kanamori, Klaus-Robert Mller, Sam Roweis, Neil Rubens, Tobias Scheffer, Marcel Schmittfull, Bernhard Schlkopf, Hidetoshi Shimodaira, Alex Smola, Amos Storkey, Masashi Sugiyama, Choon Hui Teo Neural Information Processing series
Warning Signs on Electronic Gaming Machines: Recall and Effects on Cognitions and Beliefs

This study examined the effectiveness of harm-minimisation messages by investigating recall and changes to irrational cognitions commonly found in gamblers. Undergraduate students (n=187) played electronic gaming machines (EGMs) with signs displayed as either static messages on sides of machines, or dynamic messages scrolling across screens. The content of messages was either the standard government-mandated message, or an informative message specifically targeting irrational cognitions. Following play, message recall and change in gambling-related erroneous perceptions and irrational beliefs was measured. Dynamic messages were recalled significantly better than static messages. However, while players reported that dynamic messages affected cognitions during play significantly more than static messages, there was no significant difference in the overall reduction of irrational cognitions. Additionally, informative signs did not lead to a significant reduction in irrational beliefs. Results of the study support dynamic displays as representing a method of improving recall for the content of responsible messages on EGMs. However, while a reduction in erroneous estimates of chances of winning were noted, it remains to be demonstrated that dynamic displays combined with simplified messages designed to increase knowledge and correct irrational cognitions can be translated into an effective harm-minimisation strategy that has an impact on actual gambling behaviour.
Cryptocurrencies, Central Bank Digital Cash, Traditional Money: Does Privacy Matter?

The aim of this paper is to analyze the demand of both traditional and new media of exchange – as cryptocurrencies and central bank digital currencies – proposing a novel specification of the demand for money. In this specification, the medium of payment (MOP) has three properties: the first two are the MOP’s standard functions as a medium of exchange and as a store of value, while the third is a novel function as a store of privacy (anonymity value). The proposed framework is tested using a laboratory experiment. Our results show that anonymity matters, but less of the other two properties; at the same time, the presence of anonymity increases the overall appeal of a MOP, particularly if the individuals are risk prone; given anonymity, the sacrifice ratio between liquidity risk and opportunity cost are relatively high.
Fundamental Limits in Cellular Networks with Point Process Partial Area Statistics

Despite the huge number of contributions dealing with the evaluation of cellular networks performance, tackling with more and more complex systems including multi-tier networks or MIMO systems, the fundamental limits in terms of capacity in an information theory sense is not known for these networks. Stochastic geometry helped doing a step forward, relying on Palm theory and providing coverage statistic at the network scale. However, this statistic is not sufficient to establish a fundamental limit, namely to characterise a Shannon capacity region of the network. In this paper, we propose a new approach exploiting the cell capacity of the Spatial Continuum Broadcast Channel (SCBC) recently introduced for an isolated cell. The network capacity is linked to the cells' geometry statistics in a Voronoi tessellation. The fundamental limit is characterised by the minimal average cell power required in a network modelled as a Point Process (PP) to achieve a desired rate distribution. A direct relation is established between this minimum average power and the partial area statistics of the cells geometry, which constitute a sufficient statistic. Our approach is validated through Monte-Carlo simulations.
PENGARUH RETURN ON ASSET, GROWTH, TOTAL ASSET TURNOVER, OWNERSHIP, FIRM SIZE DAN DEBT TO TOTAL ASSET TERHADAP DIVIDEND PAYOUT RATIO PADA PERUSAHAAN YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2010-2012

ABSTRACT Dividend Payout Ratio is the guidelines established by the company to determine the amount of money that will be paid out as a dividend to investors . There are many factors that could affect dividend policy . In this study, the independent variables used were Return on Assets , Growth , Total Asset Turnover, Ownership , Firm Size and Debt to Total Assets . This study used 60 companies were listed in the Indonesia Stock Exchange during the period 2010-2012 . Data downloaded from the internet via the official website later www.idx. com financial statements of listed companies to be taken in the selection of data companies thatonly distribute dividends during the period 2010-2012 alone. Keyword : Financial Ratio, Dividend Payout Ratio
Recommender Systems and Expert Locators

This entry describes two important classes of systems that facilitate the sharing of recommendations and expertise. Recommender systems suggest items of potential interest to individuals who do not have personal experience with the items. Expert locator systems, an important subset of recommender systems, help find people with the appropriate skills, knowledge, or expertise to meet a particular need. Research related to each of these systems is relatively new and extremely active. The use of these systems is likely to continue increasing as more and more activity is implicitly captured online, making it possible to automatically identify experts, and capture preferences that can be used to recommend items
Stock liquidity, agency cost, and dividend payouts

ABSTRACT From an agency theory perspective, we find the increase of stock liquidity will lead to more dividend payouts. There are two potential channels, the ‘outcome hypothesis’ (La Porta et al. 2000) and the ‘creditors substitute hypothesis’ (Brockman and Unlu 2009), through which stock liquidity could increase dividend payouts. We confirm that stock liquidity influences dividend payouts mainly through the latter.
Tragverhalten von biegebeanspruchten Stahlmasten mit polygonalen Querschnitten

Die Arbeit behandelt die Biegetragfahigkeit von dunnwandigen Stahlmasten mit polygonalen Querschnitten. Auf der Grundlage von experimentellen und numerischen Untersuchungen wird das Tragverhalten von biegebeanspruchten Stahlmasten mit polygonalen Querschnitten mit beliebiger Kantenanzahl bis in den Ubergangsbereich zum zylindrischen Querschnitt dargestellt. Dabei werden die Schalentragwirkung und der Einflus von Imperfektionen berucksichtigt.
An intertemporal analysis of expenditure elasticities under three expenditure specifications for Sri Lanka

ABSTRACT Household income has been identified as one of the major determinants of demand for household goods. In addition, other household characteristics, such as household size and composition are also found to be important factors that influence household consumption decisions. This study, using four waves (2006/07, 2009/10, 2012/13 and 2016) of Sri Lankan Household Income and Expenditure Survey data, estimates three different specifications (namely, household expenditure, per-capita expenditure and expenditure per equivalent adult) of a complete system of Box-Cox Engel curves to incorporate household size and compositional differences into the model specification. A comparison of elasticity estimates across the three specifications indicates that amongst the three, the best performing model is the one utilizing household expenditure. An intertemporal analysis of expenditure elasticities indicates that although the magnitude of expenditure elasticities has changed, the necessity or luxury classification of household commodities has mostly remained unchanged for the period 2006 − 2016 in Sri Lanka.
Vitrification has detrimental effects on maturation, viability, and subcellular quality of oocytes post IVM in cancerous women: An experimental study

Abstract Background In vitro maturation (IVM) of immature oocytes retrieved from ovarian tissue has been considered as a valuable approach for fertility preservation in cancerous patients. Objective To evaluate the efficacy of vitrification on oocyte maturation, survival rates, as well as the subcellular oocyte quality post IVM. Materials and Methods The ovarian cortexes from 19 women with cervix and uterine malignancy aged 21–39 yr were collected. Cumulus-oocyte complexes were aspirated from all visible antral follicles. 102 immature oocytes were collected, and 43 oocytes were detected appropriately for IVM (control group). Also, 59 immature oocytes were vitrified, then matured in vitro (IVM) in two groups: with Growth/differentiation factor 9 (GDF9) (group 1) and without GDF9 (group 2) supplementation. Rates of oocytes viability, maturation, and survival along with meiotic spindle visualization and zona pellucida birefringence were assessed with Polyscope. Results The rate of maturation was significantly higher in controls (55.8%) compared to the other groups. Maturation rate was 23.3% in oocytes cultured in IVM medium enriched with GDF9, and 27.6% in those cultured in IVM medium lacking GDF9 (p = 0.86). Also, the meiotic spindle was present in 74.4% of control oocytes which was significantly higher than the other groups. The proportion of high zona pellucida birefringence was higher in the controls when compared with group 1 (51.2% vs. 23.3%, respectively, p = 0.04). Conclusion Vitrification had a detrimental effect on oocyte maturation, viability as well as the subcellular quality of the oocytes after IVM in cancerous women.
What Drives a Firm's ES Performance? Evidence from Stock Returns

Abstract This study empirically explores the dynamic relation between the environmental and social (ES) performance of a firm and its stock market returns. We find robust evidence that worse stock market performance increases firms’ efforts on ES activities. Specifically, firms are more likely to improve their product and diversity performance and enhance their ES strengths rather than reduce ES concerns after poor stock market performance. This finding that poor stock market performance precedes enhanced ES performance is present (i) in firms with more financial slack, (ii) in firms with higher customer awareness, (iii) during the post-financial crisis period, and (iv) when a firm's shareholder activism on ES issues is intense. Our results underscore the importance of stock market performance in corporate ES decisions.
Noisy Stock Prices and Corporate Investment

Firms significantly reduce their investment in response to non-fundamental drops in the stock price of their product-market peers. We argue that this result arises because of managers' limited ability to filter out the noise in stock prices when using them as signals about their investment opportunities. The resulting losses of capital investment and shareholders' wealth are economically large, and affect even firms that are not facing severe financing constraints or agency problems. Our findings offer a novel perspective on how stock market inefficiencies can affect the real economy, even in the absence of financing or agency frictions.
The impact of tool selection on back and wrist injury risk in tying steel reinforcement bars: a single case experiment

The paper explores the risk of work-related musculoskeletal injury in tying steel reinforcement bars. Three tools are compared to determine the extent to which ergonomic tools can reduce the risk of injury to the back and wrist in steel-tying. A whole body system of wearable sensors was used to measure biomechanical risk in tying. Three tools were assessed to determine their impact on the risk of work-related musculoskeletal injury when used at different heights. These were: a conventional pincer-cutting tool; a power-driven tying tool, and a long handled stapler tool. No tool was found to work best in all situations. The long handled stapler tool significantly reduced trunk inclination when used from ground to shoulder height, but produced higher trunk extension (backward bending) when used above shoulder height. The power tying tool did not reduce the need to bend when working at lower work heights. The power-tying tool produced significantly lower peak wrist flexion values compared to the conventional pincer-cutter tool at all work heights except overhead. The power tying tool involved significantly lower levels of wrist rotation than the conventional pincer-cutter tool at all work heights above knee level. Many assessments of ergonomic risk factors in construction rely on observational methods. The use of small, lightweight wearable sensors permits the objective measurement of biomechanical risk factors for work-related musculoskeletal injury, as well as providing objective performance data that can be used in the design and selection of task-specific tools. Our analysis of work by height also provides insight into the way in which risk factors and reduction opportunities afforded by different tools vary depending on the height at which work is to be performed.