Miracle-dz/UniFAR-FTUs huggingface dataset:
The metamorphosis of a logic : identifying changing conceptions of CSR in the corporate environment

Corporate Social Responsibility has been a phenomenon in the corporate sector since its inception in the mid-20th century. Over the first decade of the 21st century corporations have been engaging and producing CSR efforts in greater numbers. However, there seems to be a very diverse understanding of CSR between theorists and amongst corporations. This study aims to divine what corporations understand as CSR and by investigating what these firms produce in their CSR reporting. This study employs novel data mining techniques to mine data from these reports. It them approaches them using the Institutional Logics perspective and Institutional theory to understand the organisation dynamics at play. This study then contends that the meaning of CSR has indeed shifted over the period in question. It proves this by identifying logics that form CSR and using them to track the development of these ideas across the decade. Using this date this study proves that CSR has now become a complex idea that includes both the drive to deliver social good and the need to satisfy the needs of the organisation.
An Empirical Analysis of Model Misspecification in Studies of Valuation of Financial Statement Disclosures

A number of studies have examined the correlation between financial statement disclosures and share prices to assess the informativeness of these disclosures. There are several potential econometric problems with analyses of this type, and the interpretations of the results depend critically on the type of econometric problem. For example, the results of these studies should not be used to answer accounting policy questions unless the effect of an omitted variable bias is likely to be minimal. Given potential interpretation problems, we argue that analysis of model misspecification should be performed to isolate the form of misspecification. The contribution of this paper is to suggest a series of tests to perform this task. We use these tests to assess the importance of misspecification in adaptations of Barth's (1994) investment securities valuation model and Beaver et al.'s (1989) model of loan loss valuation. We find compelling evidence of the importance of misspecification apart from measurement error (e.g., omitted variables) in the model of investment securities valuation, but find only weak evidence of any misspecification other than measurement error in the loan loss valuation model.
The Entrepreneur and His Firm: The Relationship between Type of Man and Type of Company . By Norman Raymond Smith. East Lansing, Bureau of Business and Economic Research, Michigan State University, 1967. Pp. vii + 109.

Norman R. Smith, an associate professor of marketing at the University of Oregon, suggests in this study some tentative hypotheses regarding entrepreneurial types and the companies which they tend to establish. He accepts Cole s definition of entrepreneur as "the individual who is primarily responsible for gathering together the necessary resources to initiate a business" (p. 2). The sample consists of data obtained from fifty-two interviews with machine-tool manufacturers in six Michigan cities. All of the companies started after 1945 and have been in operation at least five years. Thus the sample deals with "successful" firms which survived the crucial formative period. Smith is more concerned with the last two stages of Cole's delineation of initiation, maintenance, and aggrandizement. The method employed is the one developed by sociologist John C. McKinney in the construction of "ideal types. " Smith formulates two polar types of entrepreneurs and firms and measures the deviations from each and then compares the man and the firm to analyze the correlation. Basically, one type of entrepreneur, which Smith calls the CraftsmanEntrepreneur, moves in a very limited cultural range and is narrow in outlook. His opposite, the Opportunist-Entrepreneur, responds to a broad range of culture and liberal views. These attitudes were conditioned by entrepreneurial experiences in education and work background, and his role-model. These polar types are also measured by social awareness, degree of flexibility in delegating responsibility, hiring policies, labor relations, capital sources, competitive strategy, sales procedures, and long-range planning. Smith concludes that the C-E is associated with firms classified as rigid while the O-E runs companies that are adaptive. The firms were measured as deviations from the two polar types on the basis of customer and product diversification, production methods, dispersed production faculties and markets, and concrete plans for change. Smith's final hypothesis is that the adaptive company with an O-E at the helm will sustain a higher growth rate than the rigid firm with a C-E. Using Jenks' distinction between "owner-manager" and "entrepreneurial-executive," which corresponds roughly with the C-E and O-E, Smith concludes that only the latter type has a chance to lead the firm successfully through the phases of initiation, maintenance, and aggrandizement.
Equity in access to exercise tolerance testing, coronary angiography, and coronary artery bypass grafting by age, sex and clinical indications

OBJECTIVES To assess whether patients with heart disease in a single UK hospital have equitable access to exercise testing, coronary angiography, and coronary artery bypass graft surgery (CABG). METHOD Retrospective analysis of patients' medical case notes (n = 1790), tracking each case back 12 months and forward 12 months from the patient's date of entry to the study. SETTING Single UK district hospital in the Thames Region. PATIENTS Patients (elective and emergency) with a cardiac ICD inpatient code at discharge or death, or who were referred to cardiology or care of the elderly unit over a 12 month period in 1996–7 (new episodes) were included. RESULTS Analysis of 1790 hospital case notes revealed that, despite having indications for intervention identical to those of younger patients, older patients (that is, those aged > 75 years) and women, independently, were significantly less likely to undergo exercise tolerance testing (exercise ECG) and cardiac catheterisation. The similar trends for age and access to CABG did not achieve significance. While clinical priority scores also independently predicted access to cardiac catheterisation and CABG, considerable numbers of patients in high clinical priority groups were not referred for either procedure. CONCLUSIONS The management and treatment of older patients and women with cardiac disease may be different from that of younger patients and men. Given the similarity of the indications for treatment and the lack of significant contraindications or comorbidities as a cause for these differences, one possible explanation is that these patients are being discriminated against principally because of their age and sex. Although clinical priority scores independently predicted access to catheterisation and CABG, large proportions of patients in high priority groups were not referred. This implies that the New Zealand priority scoring system may be more equitable than UK practice. The cost implications of redressing these inequities in service provision would be considerable.
Impact of Public Policy on Innovative SMEs in Japan*

The Japanese government in 1995 initiated a publicpolicy that sought to support innovative small and medium enterprises (SMEs) inJapan. This law was amended in 1999, with a clear mission to support SMEs forgreater economic viability. This law provides for innovative SMEs to receivefinancial awards from the government to support further development oftechnology and new business ventures. A study was conducted to evaluate public policy pertaining to innovativeSMEs and investigate whether program awardees grow faster than non-awardedmatched firms. A mail survey of program awardees was used to determine if theawarding of financial incentives has an effect on the performance of thesefirms. In all 1,364 (25.1%) of the awardees responded. Sales, turnover andemployment growth were used as performance indicators. The findings revealed that overall the performance of awardees was higherthan for the matching firms. Furthermore, firms with single awards performedbetter than firms with multiple awards. Consistent with previous studies thepublic certification of the quality of firms provides firms with opportunitiesto develop their businesses. Government subsidies appear to support the growthof innovative SMEs, however, multiple public awards do not appear to improvefirm performance and firms with single awards seem to grow faster than firmswith multiple awards. The Japanese government's public policy toward innovativeSMEs appears to contribute to the growth of innovative SMEs. (VRS)
Schooling and Civic Engagement in the U.S.

Using two unique data sets, we examine the factors that contribute to civic and political engagement among high school and college students both in and outside of their institutions, focusing on the roles those institutions play in facilitating engagement, and on the connection between these early activities and later engagement among young adults. Our analysis indicates that high schools provide important pathways to early adult participation. Providing opportunities to volunteer, facilitating classroom discussions about politics, reinforcing service work with classroom exchanges, and teaching specific civic skills, all lead to greater levels of engagement both during and after graduation. Involvement with overtly political organizations in high school (not just any organization) also promotes later engagement. Colleges also promote engagement by offering volunteer work, engendering an environment in which students believe they can influence the administration, and, in the curriculum, requiring students to keep up with politics and national affairs. This research is sponsored by a grant from The Pew Charitable Trusts, which bears no responsibility for the analysis presented here.
Give Credit Where Credit is Due: Tracing Value Added in Global Production Chains

This paper provides both a conceptual framework for decomposing a country's gross exports into value-added components by source and a new bilateral database on value-added trade. Our parsimonious framework integrates all previous measures of vertical specialization and value-added trade in the literature. To illustrate the potential of the decomposition, we present a number of applications including re-computing revealed comparative advantages and constructing an index to describe whether a country-sector is likely in the upstream or downstream of global production chains.
Interday drifts in opening stock returns

In present study, I make an effort to shed light on the actual mechanism of autocorrelations in individual stocks' opening returns. I analyze intraday price data on thirty stocks currently making up the Dow Jones Industrial Index. Employing the sample average and the sample median of opening stock returns for each of the trading days within the sample period as two alternative proxies for the general market opening returns, I document that if the previous day's market and individual stock's opening returns are taken together to explain the stock's opening returns, then the effect of the lagged general market opening returns is significantly negative, while the effect of the lagged stock's opening returns is significantly positive. Moreover, following days characterized by both positive and negative market opening returns, a given stock's opening returns tend to be higher if its previous day's opening returns were positive. Such price behavior seems to contradict the concept of market efficiency. Finally, I construct a number of portfolios based on the opening trading sessions and involving a long position in the stocks on the days when, according to the findings, their opening returns are expected to be high and a short position in the stocks on the days when, according to the findings, their opening returns are expected to be low. All the portfolios are found to yield significantly positive returns, providing an evidence for the practical applicability of the pattern of drifts in opening stock prices.
Countercyclical Macroprudential Tools

Risk-sensitive capital requirements, such as those established in Basel 2/3, and loan loss provisions based on incurred losses or on short-horizon expected losses, increase procyclicality in the banking system. They could, therefore, contribute to fuelling credit bubbles in good times, as rising risks are not properly covered either with capital or provisions, and credit crunches in bad times, as requirements are sharply increased to compensate for the former undercapitalisation and under-provisioning, and banks respond by cutting credit to households and firms. This paper shows that the procyclicality of current and envisaged capital requirements and loan loss provisions is a serious concern. But, at the same time, it can be dealt with using countercyclical macroprudential tools, first, by smoothing minimum capital requirements using a very simple and intuitive formula based on GDP growth and, secondly, by using forward-looking provisions such as the Spanish dynamic provisions, a working macroprudential mechanism for more than a decade and a full lending cycle.
The simultaneous evolution of economic growth, financial development, and trade openness

This article empirically investigates the interactions among economic growth, financial development, and trade openness through simultaneous equation systems. The identification and estimation of the systems rely on the methodology of identification through heteroskedasticity. The empirical results show that each of the three variables interacts in important ways. When controlling for the reverse causation, trade promotes economic growth in high-income, low-inflation, and nonagricultural countries but has a negative impact on growth in countries with the opposite attributes. Similarly, when accounting for the feedbacks from growth, banks and stock markets have different impacts on economic growth. While banking development is detrimental to output growth, stock market development is more favorable to growth in high-income, low-inflation, and nonagricultural countries. The data also reveal coexistence of a positive effect of financial development on trade and a negative effect of trade on financial development in poorer countries. In richer countries, financial development stimulates trade openness whereas trade has an ambiguous impact on financial development.
Are There Adverse Consequences of Mandatory Auditor Rotation? Evidence from the Italian Experience

SUMMARY: Mandatory auditor rotation was recently proposed for the European Union and is also under consideration in the United States. There has been little research into either the benefits or costs of rotation in a true mandatory setting that could inform intelligent policy making. Our paper helps fill this gap by examining Italy, where mandatory rotation of auditors has been required since 1975. We find that outgoing auditors do not shirk on effort (or quality), but final-year fees are 7 percent higher than normal, which may indicate opportunistic pricing. The fees of incoming auditors are discounted by 16 percent even though they have abnormally higher engagement hours in the first year (17 percent), which is suggestive of lowballing. However, subsequent fees are abnormally higher and exceed the initial fee discount. Thus, the costs of mandatory rotation are nontrivial. Higher costs could be acceptable if rotation improves audit quality, but we find evidence of the opposite. Namely, the quality of aud.
Testing the effects of financial literacy on debt behavior of financial consumers using multivariate analysis methods

The aim of this paper is threefold. First, to detect and categorize Croatian financial consumers’ financial literacy and analyze whether the different levels of financial literacy is statistically significant in terms of socio-demographic characteristics. The second objective is determining whether a respondent’s debt behavior differs based on their financial literacy. Further, the paper aims to examine sources of different debt behavior in relation to financial literacy. Cluster analysis is used to categorize financial literacy and determine whether a respondent’s financial literacy differs due to gender and level of disposable income. Here, the nonparametric chi-square test is applied. The effects of financial literacy on debt behavior are investigated using a rank-based nonparametric test, specifically the Kruskal Wallis H test. Finally, the paper will examine the source of differences in debt behavior based on different levels of financial literacy, and a post hoc analysis using Dunnett’s C test will be conducted. The results suggest that respondents exhibit different debt behavior due to different levels of financial literacy. In addition, the level of disposable household income per household member was found to be statistically insignificant with respect to different levels of financial literacy, while such levels were found to be statistically significantly different when compared to a respondent’s gender.
Role of the Foamy Virus Pol Cleavage Site in Viral Replication

ABSTRACT Foamy virus Pol precursor protein processing by the viral protease occurs at only one site, releasing a protease-reverse transcriptase and an integrase protein. To examine whether the cleavage of the Pol precursor protein is necessary for enzymatic activities and efficient viral replication, several mutations were generated around the cleavage site. All cleavage site mutants synthesize wild-type levels of Pol precursor protein. Mutants containing more than two amino acid substitutions around the cleavage site exhibit no detectable Pol processing. The Pol cleavage site is not required for the production of infectious particles in a single round of infection, but is important for subsequent rounds of viral infection. Mutations around the cleavage site affected the enzymatic activities of the protease and reverse transcriptase and prevented replication after two rounds of infection. Interestingly, Pol encapsidation is significantly reduced in some of the mutants.
IS LABOR'S LOSS CAPITAL'S GAIN? GROSS VERSUS NET LABOR SHARES

US labor share has been falling since the 1970s. I show that it has not fallen as much once items that do not add to capital, depreciation and production taxes, are netted out. Recent net labor share is within its historical range, whereas gross share is at its lowest level. This effect holds for other high-income economies. The overall picture is no longer one of unprecedented, globally declining labor share. Using gross share as a proxy for net share can give misleading results. US gross share and inequality are correlated, whereas net share, the correct measure, is not.
Bankruptcy Costs: Evidence from Small-Firm Liquidations

This paper examines the economic significance of bankruptcy cost by analysing the duration, costs and claimholder losses disclosed in the public record relating to a sample of 408 Australian corporate liquidations. Analysis indicates that liquidation may be a time consuming and costly process, but that costs are subject to economies of scale. Substantial bias was evident in management ex ante estimates of realisable values, while the liquidation process resulted in substantial losses for claimholders.
Placebo Tests of Conditional Conservatism

ABSTRACT Basu (1997) proposes a measure of financial reporting conservatism based on asymmetry in the conditional earnings/returns relation. Patatoukas and Thomas (2011) show upward bias in this measure, because a placebo—lagged earnings—also exhibits similar asymmetry. Ball, Kothari, and Nikolaev (2013a) and Collins, Hribar, and Tian (2014) propose alternative explanations for the bias and offer revised measures to overcome the bias. However, we find that both revised measures remain substantially upward-biased. In particular, a placebo based on lagged share price mimics time-series and cross-sectional variation observed for the revised measures. More generally, we find biases in the asymmetric timeliness specification because earnings, accruals, and other measures of performance are often related to second and higher moments of the distribution of returns. In addition to suggesting that the asymmetric timeliness specification be used with caution, our study illustrates the useful role placebos can play .
Analyzing the impact of investor sentiment in social media to stock return: Survival analysis approach

In the era of information technology, stock related information can be easily found on the internet, especially on social media. Thus, data in social media hold an important information to predict the movement of stock price. In addition, the research about the time of stock fulfillment, that is the time until stock gives the expected return, is very rare. For this reason, in this research, we will use Survival Analysis to model time aspect of trading strategies using investor sentiment as the predictor. The result shows that investor sentiment in Stockbit can be used as the predictor of return in Survival Analysis Model we developed and can be used as an alternative method to make stock buying and selling process. We also find Cumulative Twitter Investor Sentiment Hazard (CTIS) ratio of less than one indicates that an increase of CTIS will reduce the hazard.
Attitudes Toward Public Sector Corruption: A Study Of University Students In Kwazulu-Natal

The aim of this article is to ascertain the perceptions of public sector corruption held by university students, drawing on a questionnaire completed by 509 second-year Durban University of Technology and University of KwaZulu-Natal economics/business studies students in mid-2010. An overwhelming proportion of respondents regarded corruption as serious or very serious and believed that it had worsened over the previous three years. Indian respondents were more likely than Africans to regard corruption as serious and becoming worse, but a very large majority of both ethnic groups held these views. All ten scenarios presented were judged to be corrupt by the majority of respondents, although there was a wide range across the scenarios. A sizeable minority reported their willingness to engage in the behaviour presented in the scenarios. Female respondents were more likely than males to report a behaviour as corrupt and to say that they would not engage in it, while African respondents were more likely than Indian respondents to report a behaviour as corrupt and to say that they would engage in it. This study needs to be supplemented by qualitative research in order to better understand the attitudes underlying these responses.
Red blood cell transfusion support and management of secondary iron overload in patients with haematological malignancies in the Netherlands: a survey

Evidence‐based guidelines on optimal triggers for red blood cell (RBC) transfusion in patients with haematological malignancies exist, but the evidence is weak. Secondary iron overload is an often overlooked chronic complication of RBC transfusions, and also here, guidelines are either lacking or lack international consensus. Our aim was to evaluate the triggers for RBC transfusion support and management of secondary iron overload among haematologists in the Netherlands.