Miracle-dz/UniFAR-FTUs huggingface dataset:
THE DETERMINANTS OF AUSTRALIAN TRADE UNION MEMBERSHIP

SUMMARY This paper investigates the determinants of trade union membership in Australia using the Engle and Granger (1987) theory of co-integrated economic variables. Applying the theory of co-integration yields a model of union membership which can be interpreted as distinguishing between long-run and 'business cycle' determinants of union membership. The principal long-run determinant of union membership is found to be the level of employment disaggregated by industry classification. Business cycle variables-the real wage and the change in unemployment-are also shown to influence movements in union density. These findings are consistent with recent studies which have attributed the decline in union membership in Australia since the early 1980s to the changing composition of employment and movements in the rate of unemployment.
Impact of proximity to debt covenant violation on earnings management

We examine the impact of differential incentives arising from proximity to debt covenant violation on earnings management. We reason that firms with loans close to violation or in technical default of their debt covenants have a stronger incentive to engage in earnings management than firms that are far from violating their debt covenants. We find results consistent with this expectation. Firms close to violation or in technical default of their debt covenants engage in higher levels of accounting earnings management, real earnings management, and total earnings management than far-from-violation firms. In additional analysis, we find that firms with a stronger incentive to avoid covenant violation switched from using more accounting earnings management before the Sarbanes–Oxley Act to using more real earnings management and more total earnings management afterwards. We also document that the earnings management implications of debt covenant violation are observed primarily for firms with poor credit ratings and for firms that do not meet analyst forecasts.
A comparative study of ultrastructures of the interfaces between four kinds of surface-active ceramic and bone.

The interfaces between four kinds of surface-active ceramic and bone were studied by scanning electron microscopy (SEM) and transmission electron microscopy (TEM) using undecalcified specimens. The materials were Bioglass-type glass (Bioglass), Ceravital-type glass-ceramic (KGS), apatite- and wollastonite-containing glass-ceramic (A-W.GC) and hydroxyapatite (HA). Particles of these materials, ranging between about 100 and 300 microns in diameter, were implanted into rat tibiae, and specimens were prepared for observation at 8 weeks after implantation. All materials were observed to bond to bone through a collagen-free layer consisting of fine apatite crystals distinct from those in bone. The crystals of this apatite layer and those of bone were intermingled at their interface, suggesting chemical bonding. In Bioglass, which had only a glassy phase, several tens of microns of the material surface had changed to such an apatite layer. In KGS and A-W.GC, which had macrocrystals in the glassy phase, an intervening apatite layer about 0.5 micron thick was observed between the materials and bone. Furthermore, fine apatite crystals were also observed among the macrocrystals near the surface of the materials. In HA, which had no glassy phase, an intervening apatite layer was much less distinct and sometimes absent. These differences were considered to be attributable to the differences in chemical composition, crystallization, and solubility of the materials.
Does investing in technology-based firms involve higher risk? An exploratory study of the performance of technology and non-technology investments by business angels*

There is a widespread concern in both the UK and in the European Union that technology-based firms encounter difficulties in raising venture capital at their start-up and early growth stages. This, in turn, reflects the perception amongst investors that investments in technology-based firms involve greater uncertainty (in terms of market and technology) and hence higher risks. This paper explores this contention by means of an examination of the performance of investments made by business angels (informal investors) in technology and non-technology firms. Based on the analysis of deal-specific information, the authors demonstrate that the overall returns profiles of the two types of investments are not significantly different. This may be because business angels are better able than venture capital fund executives to manage the risks involved in investing in technology-based firms on account of their industrial and entrepreneurial backgrounds. Alternatively, it may reflect the fact that the risks involved in investing in technology-based firms have been overstated.
‘Becoming’ a teenage mother in the UK

In recent years teenage pregnancy and parenthood have been topics of much debate within academia, government and the media in the UK. The contemporary problematisation of teenage parenthood has meant that young mothers have been the subject of a number of recent policy interventions. This thesis examines the issues which confront young mothers in the context of these social policy interventions. It provides an overview of the literature debating the conceptualisation of teenage pregnancy and parenthood as a significant social problem. In addition, it traces the development of policies aimed at reducing the incidence of teenage pregnancy and supporting teenage parents. The thesis involves a qualitative study of young parents and their responses to these problematising discourses and the policies they have stimulated.
Hepatitis C virus and risk of non‐Hodgkin lymphoma in British Columbia, Canada

We investigated Hepatitis C virus (HCV) seropositivity and the risk of non‐Hodgkin lymphoma (NHL) in a population‐based case‐control study in British Columbia, Canada. Cases were aged 20–79, diagnosed between March 2000 and February 2004, and resident in greater Vancouver or Victoria. Cases with HIV or a prior transplant were excluded. Controls were chosen from the Client Registry of the British Columbia (BC) Ministry of Health, and were age/sex/region frequency matched to cases. Antibodies for HCV were measured in 795 cases and 697 control subjects. HCV seropositivity was 2.4% in cases and 0.7% in controls [odds ratio (OR) = 2.6, 95% confidence interval (CI) = 0.9–7.4]. A significantly elevated risk was observed for B‐cell lymphoma (OR = 2.9, 95%CI = 1.0–8.6). The highest risks were associated with diffuse large B‐cell lymphoma (OR = 7.3, 95%CI = 2.1–25.0) and marginal zone lymphoma (OR = 6.1, 95%CI = 1.1–33.9). Our results provide further evidence that HCV infection contributes to NHL risk. © 2007 Wiley‐Liss, Inc.
Loss Aversion and Managerial Decisions: Evidence from Major League Baseball

Previous research indicates that management changes are important events for organizations, partly because they lead to reversals of poor prior decisions. An unanswered question is why replacing the manager seems to be necessary for reversing poor decisions. One explanation is that managers have an irrational behavioral aversion to admitting mistakes (loss aversion). We test this hypothesis with a research design that mitigates many of the measurement problems associated with investment decisions in traditional corporate settings, and that allows us to distinguish agency cost from loss aversion as explanations. Using Major League Baseball data, we find that new managers, compared to continuing managers, are more likely to divest low-performing players. Moreover, when the manager is new and the previous manager was responsible for acquiring a player who is under-performing, the likelihood of player divestiture is significantly higher relative to low performers acquired by earlier managers. Experience of the acquiring manager does not affect the likelihood that the manager retains a low performer, suggesting that it is loss aversion, and not career concerns, that motivates acquiring managers to retain low performers. The findings suggest that loss aversion plays a significant role in managerial decisions and managerial turnover.
Risk Aversion Revisited

In order to supply additional empirical evidence of the effect of wealth on relative risk aversion, this study investigates households' demand for risky assets, using analysis of covariance techniques applied to the asset holdings of Canadian individual households. The extent and pattern of life-cycle effects are also examined. Results generally point to decreasing relative risk aversion when housing is either excluded from the definition of wealth or treated as a riskless asset. The investor's life-cycle plays a prominent role in portfolio selection behavior, with risk aversion increasing uniformly with age. Tax differentials do not seem to be an important element in investment decisions with respect to risk. When the sample and wealth definitions are censored in order to approximate those of previous empirical studies, their findings on relative risk aversion are generally corroborated. THIS STUDY PRESENTS AN empirical investigation of the demand for risky assets of individual Canadian households using data from the Survey of Consumer Finances. The results generally point to decreasing relative risk aversion when housing is either excluldied from the definition of wealth or treated as a riskless asset, even when life-cycle effects are controlled. The investor's life-cycle plays a prominent role in portfolio selection behavior, with risk aversion increasing uniformly with age. Cohn-Lewellen-Schlarbaum [6] also found evidence of decreasing relative risk aversion, using a restricted sample of stockowning investors, while Friend-Blume (12) concluded that constant relative risk aversion characterized household behavior. The present study also finds that by restricting the sample and the wealth definitions to approximate those of Cohn-LewellenSchlarbaum and those used by Friend-Blume, their empirical findings on relative risk aversion are generally corroborated. The paper is divided into five sections. The first reviews the literature on risk aversion and the second briefly describes the theory' underlying the empirical tests. The third section describes the data and statistical techniques used. The empirical results are presented and discussed in the fourth section, where the aggregate demand for risky assets is estimated and where the role of life-cycle variables is examined. The final section summarizes the main conclusions of the study.
Dividends, Short Selling Restrictions, Tax-Induced Investor Clienteles and Market Equilibrium

income is taxed at a higher rate than capital gains, and tax rates vary across investors, corporations would adjust their dividend policies until, in equilibrium, such policies coincided with the desires of shareholders. That is, tax-induced shareholder clienteles would form, with low (high) yielding stocks being held by investors in high (low) marginal tax brackets. Black and Scholes (1974) argue for a 'supply effect', such that in equilibrium, a marginal change in a corporation's dividend distribution would leave its stock price unaffected. Brennan (1970) was the first to derive an After-Tax Capital Asset Pricing Model (CAPM) that accounted for the differential taxation of dividend and capital gains, and for a progressive tax scheme. The model was later extended by Litzenberger and Ramaswamy (1979) to account for restrictions on investors' borrowing. While in both models investors' tax brackets do influence their portfolio choices, it turns out that in equilibrium the expected return per unit of dividend yield is a constant across securities and independent of dividend yield. It is shown in the present study that this result obtains only in the absence of any restrictions on short sales. While Brennan took corporate dividend policies as exogenous, his analysis under pure exchange indicates that an equilibrium where corporations are paying positive dividends is inconsistent with the required return per unit of dividend yield being zero. Put another way, the weighted average (using investors' global risk tolerances as weights) of investors' marginal tax brackets determines the expected return per unit of dividend yield. Since corporations1 and tax-exempt investors would be indifferent between dividends and capital gains while other investors have a preference for capital gains, this weighted average tax rate would be positive. Litzenberger and Ramaswamy (1979) demonstrate that an equilibrium where corporations are paying positive dividends is consistent with the expected return per unit of yield being zero, if there are dividend related
A framework for accommodating religion and spirituality in the workplace

Executive Overview After more than 35 years of exposure to Equal Employment Opportunity (EEO) laws, employers in the United States are struggling to understand and effectively deal with the challenges of employee rights and needs in the workplace. The workplace of the early 21st century is a much more diverse and dynamic environment than that visualized by legislative crafters of EEO laws. Though religion was addressed in the original laws, the primary focus was accommodation for religious observances outside the workplace. However, technology, global competition, downsizing, and reengineering have created a workforce of employees seeking value, support, and meaning in their lives that finds expression not only at home but also on the job. This search for religious and spiritual meaning in the workplace is a departure from the more traditional business mentality of “power, profit, and takeovers, where religion was something saved for the Sabbath day. ”1 Greater spiritual and religious accommodation has bec.
IDENTIFYING FACTORS WHICH INFLUENCE PRODUCT INNOVATION: A CASE STUDY APPROACH

This article provides an analysis of factors affecting the level of product innovation in a small enterprise setting. The perspective chosen considers the interaction of management and environmental factors and its impact on product innovation and explores how these factors interrelate to influence small business success (growth). A causal multi‐site model is developed which will assist in identifying product innovation determinants for high‐growth and low‐growth firms. Moreover, direct and secondary explanations of product innovations will be isolated. Twelve case studies will be examined. The conclusions are that, for high‐growth firms, determinants of product innovation that influenced small‐business success (growth) were technology, competitive edge, research and development, product life‐cycle, market change, product/market mix and customer base. For low‐growth firms, customer base was a major determinant of product innovation which influenced small‐business success (growth).
Synergism of interleukin 1 and interleukin 6 induces serum amyloid A production while depressing fibrinogen: a quantitative analysis.

OBJECTIVE Production of the serum amyloid A (SAA) proteins in the liver of patients with arthritis can be increased from approximately 1 microgram/ml to > 1000 micrograms/ml, while fibrinogen (Fg) can be increased from 2 to 9 mg/ml. The increases appear to be regulated by mediators similar to those found in inflamed joints, e.g., interleukins 1 and 6 (IL-1 and IL-6, respectively). The sensitivity and dose response of SAA and Fg synthesis by hepatoma cells to IL-1 and IL-6 was investigated to understand the relationship between the inflammatory cytokines produced in inflamed joints and the acute phase protein response in the liver of arthritis patients. METHODS SAA and Fg mRNA and protein production in human Hep3B cells stimulated by human monocyte conditioned medium (CM) containing known amounts of IL-1 and IL-6, or stimulated by corresponding concentrations of recombinant IL-1 and IL-6 was analyzed by ELISA and Northern blot hybridization techniques. RESULTS Increases in SAA mRNA and protein were dose dependent in the presence of IL-1 and IL-6 at concentrations ranging from 0.1 and 1 ng/ml, respectively, to 10 and 100 ng/ml, respectively. In the presence of IL-1 receptor antagonist (IL-1ra), there was a 75% decrease in SAA production and > 100% increase in Fg production by cells stimulated with CM. CONCLUSION Our results demonstrate that the thousand fold dynamic range associated with the acute phase SAA response requires IL-1 acting synergistically with cytokine(s) like IL-6. Optimum conditions for apoSAA production are suboptimal for Fg as indicated by the differential effects of IL-1ra.
Does old age reduce the risk of anxiety and depression? A review of epidemiological studies across the adult life span

Background. There is considerable disagreement about what happens to the risk of anxiety and depression disorders and symptoms as people get older. Methods. A search was made for studies that examine the occurrence of anxiety, depression or general distress across the adult life span. To be included, a study had to involve a general population sample ranging in age from at least the 30s to 65 and over and use the same assessment method at each age. Results. There was no consistent pattern across studies for age differences in the occurrence of anxiety, depression or distress. The most common trend found was for an initial rise across age groups, followed by a drop. Two major factors producing this variability in results were age biases in assessment of anxiety and depression and the masking effect of other risk factors that vary with age. When other risk factors were statistically controlled, a more consistent pattern emerged, with most studies finding a decrease in anxiety, depression and distress across age groups. This decrease cannot be accounted for by exclusion of elderly people in institutional care from epidemiological surveys or by selective mortality of people with anxiety or depression. Conclusion. There is some evidence that ageing is associated with an intrinsic reduction in susceptibility to anxiety and depression. However, longitudinal studies covering the adult life span are needed to distinguish ageing from cohort effects. More attention needs to be given to understanding the mechanism behind any ageing-related reduction in risk for anxiety and depression with age. Possible factors are decreased emotional responsiveness with age, increased emotional control and psychological immunization to stressful experiences.
A Century of US Central Banking: Goals, Frameworks, Accountability

Several key episodes in the 100-year history of the Federal Reserve have everal key episodes in the 100-year history of the Federal Reserve have been referred to in various contexts with the adjective “Great” attached to been referred to in various contexts with the adjective “Great” attached to them: the Great Experiment of the Federal Reserve’s founding, the Great them: the Great Experiment of the Federal Reserve’s founding, the Great Depression, the Great Infl ation and subsequent disinfl ation, the Great Moderation, Depression, the Great Infl ation and subsequent disinfl ation, the Great Moderation, and the recent Great Recession. Here, I’ll use this sequence of “Great” episodes and the recent Great Recession. Here, I’ll use this sequence of “Great” episodes to discuss the evolution over the past 100 years of three key aspects of Federal to discuss the evolution over the past 100 years of three key aspects of Federal Reserve policymaking: the goals of policy, the policy framework, and accountability Reserve policymaking: the goals of policy, the policy framework, and accountability and communication. The changes over time in these three areas provide a useful and communication. The changes over time in these three areas provide a useful perspective, I believe, on how the role and functioning of the Federal Reserve have perspective, I believe, on how the role and functioning of the Federal Reserve have changed since its founding in 1913, as well as some lessons for the present and for changed since its founding in 1913, as well as some lessons for the present and for the future. the future.
Specification Testing of Markov Switching Models

This paper proposes a set of formal tests to address the goodness-of-fit of Markov switching models. These formal tests are constructed as tests of model consistency and of both parametric and non-parametric encompassing. The formal tests are then combined with informal tests using simulation in combination with non-parametric density and conditional mean estimation. The informal tests are shown to be useful in shedding light on the failure (or success) of the encompassing tests. Several examples are provided. Copyright 2003 Blackwell Publishing Ltd.
The Effects of Foreign Direct Investment on Domestic Firms: Evidence from Firm Level Panel Data in Emerging Economies

This paper uses firm level panel data to investigate empirically the effects of direct foreign investment (DFI) on the productivity performance of domestic firms in three emerging economies of Central and Eastern Europe, Bulgaria, Romania and Poland. To this end a unique firm level panel data set is used with detailed information on foreign ownership at the firm level. Three key questions are addressed in the present paper: (1) do foreign firms perform better than their domestic counterparts? (2) do foreign firms generate positive spillovers to domestic firms? (3) Do technological spillovers from foreign firms depend on the absorptive capacity of domestic firms? I find that firms with some foreign investment perform better than firms without foreign participation. I find no evidence of positive spillovers to domestic firms on average. In contrast, on average there are no spillovers to domestic firms in Bulgaria and Romania, while there are negative spillovers to domestic firms in Poland. In addition, for Bulgaria and Poland, I find evidence that the absorptive capacity of domestic firms might matter to benefit from foreign investors. The results are consistent with recent theories of R&D spillovers through DFI.
Is the treatment of hyperlipidemia as secondary prevention adequate in different age groups in Israel?

BACKGROUND Treatment of hyperlipidemia is important for secondary prevention in patients suffering from coronary heart disease. It has been proven that "young elderly" (patients aged 65-75 years) can benefit from the treatment at least as much as younger patients. OBJECTIVE To assess the adequacy of treatment as part of secondary prevention in "young elderly" and younger patients. METHODS In this prospective study, 389 patients discharged from the hospital with the diagnosis of coronary heart disease were divided according to age groups. Data were collected regarding lipid profile examinations, dietary and drug therapy, and results of lipid profiles. RESULTS Less than one-third of the patients achieved target low density lipoprotein levels. More patients in the older age group achieved the treatment goals. The goals were achieved despite the fact that the percentage of patients treated with lipid-lowering drugs was lower in the older age group. CONCLUSION The percentage of patients treated for hyperlipidemia as part of a secondary prevention plan in Israel is similar to that in other developed countries. The fact that more "young elderly" patients achieve adequate lipid profiles compared to younger patients indicates that there is no age discrimination towards this patient group. The finding that less than one-third of the patients reach the treatment goals should prompt physicians to treat hyperlipidemia more aggressively.