Miracle-dz/UniFAR-FTUs huggingface dataset:
Two essays on managerial incentives

Jensen and Meckling (1976) and Jensen (1986) argue that the separation of ownership and control may generate agency problems between managers and shareholders. The equity-based compensation, by tying managerial wealth to firm longrun stock performance, can incentivize managers to be more receptive to undertaking value-increasing financial policies and to improving firm performance therefore can be used as an effective tool to achieve consonance between managers actions and shareholders interest. Over the last two decades, the increased prevalence of equitybased compensation, in the form of stock and options, is partially due to an increased acceptance of the alignment effect of equity-based compensation (Murphy, 1999; Perry and Zenner, 2000; Hall and Liebman, 1998; Jensen and Murphy, 1990). The current literature examining the effect of CEO pay-performance sensitivity on corporate payout policy and firm value produces inconclusive findings. In this dissertation, I revisit the effect of CEO pay-performance sensitivity on payout policy and firm performance. My dissertation consists of two essays. The first essay examines the effect of CEO pay-performance sensitivity on payout policy, including dividends and share repurchases, for a sample of 6,656 firm-year observations from 1995 to 2008. The second essay examines the relation between CEO pay-performance sensitivity and firm value for firms with different value for a sample of 19,313 firm-year observations from
Density-based Representation Learning with Applications to Sentiment Analysis and Domain Adaptation

As more and more raw data are created and accumulated, it becomes important to identify information from the data. In order to analyze the collected data, machine learning and deep learning models are mainly used in recent years, but the performance of these models is highly dependent on data representation. Recent works on representation learning have shown that capturing the input density can be helpful to get useful information from data. Therefore, in this dissertation we focus on densitybased representation learning. In high-dimensional data, manifold assumption is one of the important concepts in representation learning because high-dimensional data are actually concentrated near the lower dimensional high density region (manifold). For unstructured data, converting to numerical vectors is necessary to apply machine learning and deep learning models. In case of text data, distributed representation learning can effectively reflect information of input data while acquiring continuous vectors of words and documents. In this dissertation, we disentangle some issues on manifold of input data and distributed representation of text data in terms of densitybased representation learning. First, we examine denoising autoencoders (DAE) from the perspective of dynamical systems when the input density is defined as a distribution on manifold. We construct a dynamic projection system associated with the score function, which can be directly obtained from an autoencoder model that is trained from a Gaussianconvoluted input data. Several analytical results for this system are proposed and applied to develop a nonlinear projection algorithm to recognize the high-density region and reduce the noises of corrupted inputs. The effectiveness of this algorithm is verified through the experiments on toy examples and real image benchmarking
The Interaction Effect of Gender and Ethnicity in Loan Approval: A Bayesian Estimation with Data from a Laboratory Field Experiment

Microfinance targets women and uses loan provision as a tool for empowerment, which translates into better household nutrition, improved education, and a scale down of domestic violence. However, ethnic discrimination in microfinance may exist in countries with a segregated indigenous population. We assessed this possibility with a field experiment in Bolivia. The controlled laboratory experiment evaluated whether credit officers rejected microloan applications based on the interaction effect of ethnicity and gender of potential borrowers. Point estimates of a Bayesian mixed&#8208;effects logistic regression, estimated with the experimental data, indicate that nonindigenous women have double the chance of loan approval, but indigenous women have only 1.5 times the chance of loan approval when compared with men. While the findings about gender are limited, the evidence for the interaction of gender and ethnicity is more robust and suggests the existence of positive taste&#8208;based discrimination favorable for nonethnic women in Bolivia. We conclude that the affirmative actions towards women promoted by development agencies and microfinance institutions must not overlook ethnicity as an important factor for financial policies of sustainable development. In practice, these policies should be aimed at identifying and reducing both social desirability bias and the structural barriers to financial inclusion that indigenous women may face when trying to obtain access to a loan.
혈액투석 환자의 약물 복용이행 영향요인

Purpose: The aim of this study was to investigate factors affecting medication adherence in hemodialysis patients. Methods: A convenience sample of 140 patients receiving hemodialysis was selected. Data were collected fromDecember. 1. 2016 to January. 15. 2017 using a self-reported questionnaires in.
Homelessness and Housing Exclusion in Sweden

Abstract_Housing exclusion and homelessness is an increasing problem in Europe. Norway and Finland are the only two countries where there has been a reduction in the homeless population. The aim of this article is to analyse and discuss the key results from the Swedish homelessness count in comparison with the previous homelessness surveys. The results show that they resemble some of the trends that are emerging in other European countries. On the one hand we can see a growing exclusion of the poor and an increase in social-spatial inequalities. On the other hand, we can also see that the profile of people experiencing homelessness has changed. A growing number of people experiencing homelessness are children, or children growing up with lone mothers. There is also a growing number of young people that cannot get housing on the ordinary housing market and an increasing number of families with a migration background. Many of the people experiencing homelessness do not have any other problems than the lack of housing. Due to low incomes and poverty, many people cannot get a lease of their own and thus are dependent on the social services for housing arrangements within the secondary housing market. But the article also shows that the lack of housing is not enough for being eligible for help. Another challenge is that being homeless is often seen as an individual failure due to bad choices rather than a situation caused by the effects of the financial crisis, housing shortage, or the ever-increasing rental costs of newly produced housing. An integrated, housing led, homelessness strategy, with a strong focus on housing provision and homelessness prevention should be the way forward.
The Effects of Profitability, Debt Policy and Dividend Policy on Company Value: An empirical study on the manufacturing companies listed on the Indonesia stock exchange in the period of 2014-2016

This study aims to examine and analyze the effect of Profitability, Debt Policy and Dividend Policy on the Value of the Company. This study was conducted in Indonesia using a unit of analysis of go public manufacturing companies. The research population was a manufacturing company listed on the Indonesia Stock Exchange. By using purposive sampling method this research got 118 companies from 135 companies that had consistently announced complete report in 3 years. The data were analysed by multiple linear regression technique. The results showed that Profitability had no significant effect on the company values in the manufacturing companies on the Indonesia Stock Exchange. Debt policy had a positive significant effect on the company values in the manufacturing companies listed on the Indonesia Stock Exchange. Dividend policy had a positive significant effect on the company values in the manufacturing companies listed on the Indonesia Stock Exchange. The results of this study have implications for consideration for investors decision making. Keywords—profitability; debt policy; dividend policy; company value
PENGARUH CAPITAL EXPENDITURE TERHADAP REVENUE, NUMBER OF CUSTOMER, PROFIT DAN RETURN ON INVESTMENT (STUDI PADA PERUSAHAAN TELEKOMUNIKASI YANG TERDAFTAR DI BEI PERIODE 2009-2016)

Several research results suggest that the capital expenditure (CAPEX) has a significant effect on the change of number of customer, profit (current year profit), and return on investment (ROI). This research analyzes the effect of capex variable on revenue, number of customer, profit, and ROI. The periods used in this study ranges from 2009 to 2016. Results of analysis indicate that CAPEX has a significant effect on the changes (fluctuations) of corporate earnings, the number of costumer, profit and ROI.Keywords : Fluctuation, CAPEX, Profit, ROI, Telecommunication
Antecedents of Entrepreneurial Intentions: A Cross-Country Study of Northern Europe and the Danube Region

The increasing importance of entrepreneurship for flourishing economic progression, innovation and job creation have raised the concerns of decision makers and researchers for the investigation of the dynamics that could have an influence on the entrepreneurial activity levels. Indeed, transformations in entrepreneurship and entrepreneurial activity levels are considerable, persistent and distinctive in their history in different regions, particularly in Europe. This study extends Ajzen’s (1991) theory of planned behavior by developing a highly integrated conceptual framework to analyze the entrepreneurial intentions by analyzing individualistic and collectivistic dimensions to entrepreneurship. This framework determines how both dimensions influence the entrepreneurial intentions. This incorporates the significant role of individualism and collectivism along with entrepreneurial capability, social status and social norms across European countries. The study analyzed the cross-cultural applicability of the proposed model across Northern Europe and the Danube Region by using Global Entrepreneurship Monitor (GEM) databases. Structural equation modeling is applied to overcome the limitations of past research studies. The study also provides practical implications for entrepreneurship academicians and policy makers. Specifically, developing awareness and knowledge about entrepreneurship would improve self-efficacy and ultimately entrepreneurial intentions.
Sistemic requirements and their implementation in the science and technological strategy in Russia

The significant trends in the Russian practice of strategic planning are discussed in the article. Therefore, identification of the priorities in the field of science and technology relies heavily on forecasted global data trends, but is not actually embedded in the process of forming the development strategy of socio-economic system (SES) in Russia. Moreover, the rules, by themselves, for selecting priorities and implementing mechanisms have not been substantiated neither methodologically – from the point of adequate understanding of development patterns of SES, nor methodically – according with system diversity in the totality of the current circumstances and factors, relationships and interactions of the SES elements. Such paradoxes have led to a decline both in the quality of the strategy and in the opportunities for its implementation with the purpose to revive science and technology sector, to solve internal problems, to maintain stability and balance of the SES. The paper reviles the specific flaws in the national strategies: discrepancy, fragmentation, inconsistency of the strategy directions both inconsistency of the strategy directions both among themselves and among the sectors of the economy and society. The results of the actual data calculation are presented in the article to illustrate the paradox in choice of some directions in the “Strategy for the Scientific and Technological Development of the Russian Federation” approved on 1 Dec. 2016, so as such choice relies on the so-called “big challenges” of the global world, but not on the internal challenges and opportunities. The key requirements for the strategy were argued in the paper from the perspective of system economic theory, developing under the leadership of G.B. Kleiner in the CEMI RAS. Systemic logic schema to elaborate SES strategy is proposed: from system analysis to synthesize integrated comprehensive image of the future system, based on systemic vision of the problem situation and on systemic assessment of the SES potential in the framework of proposed Structure of conditions and factors. The findings concern fundamental improvements both in practice of elaborating strategy and in developing the theory of strategic planning and governance.
Policy Trilemma and Interest Rate Behavior in Nigeria

Policy makers face trade-off in dealing with exchange rate management, monetary independence and concerns about capital mobility simultaneously. This study empirically examines the effects of Nigeria's trilemma policy path on interest rate using data spanning from 1997:Q1 to 2017:Q3. It equally incorporates the role of external reserves in buffering these effects. Stationarity of the series were ascertained with Zivot-Andrew (ZA) structural break unit roots test technique, while the bounds test cointegration approach was used to confirm the cointegrating properties of the variables. We found that capital mobility has significant effect on interest rate in the long run baseline model and could also be successfully buffered with external reserves to reduce interest rate. Additionally, our results show that although exchange rate stability and monetary independence do not independently affect interest rate, but their interaction with external reserves does. This implies that external reserve serves as an effective buffer if appropriately employed by the monetary authorities. The trilemma policy can be used to optimally reduce interest rate. Also, external reserves could serve as a tool for economic stabilization with appropriate combination with other relevant policy variables.
Tourism-Based Circular Economy in Salento (South Italy): A SWOT-ANP Analysis

This paper is aimed at eliciting, by means of a multi-level perspective, potential drivers and barriers of the tourism industry in order to generate valuable information for policy makers to improve policy strategies for an effective transition towards sustainability. A Strengths, Weaknesses, Opportunities and Threats–Analytic Network Process (SWOT-ANP) framework was employed to explore the potential development of a second-generation biorefinery in Salento (a touristic area located in the southeast of Italy in Apulia Region) able to integrate waste management, renewable energy and bio-products production based on resource circularity in the tourism industry. Results indicate that survey participants recognized a higher level of priority for the pressures coming from the overall external setting involving values, dominant practices, rules and technologies (landscape and regime) over the internal tourism industry dynamics (niche). Results also show that the top five ranked factors are mainly pertaining to weaknesses (excessive bureaucracy and lack of technology and infrastructure) and threats (social acceptability and lack of long-term planning by governments), which can concretely jeopardize the transition towards a greater sustainability in the investigated area. The analysis presented constitutes a valuable model for agenda setting in order to find adequate policy actions to promote the transition.
On Improved Least Squares Regression and Artificial Neural Network Meta-Models for Simulation via Control Variates

Abstract : The analysis of large-scale simulations can pose a large computational burden, often necessitating the use of high performance computers. Moreover, these models can be analytically intractable because of complex, internal logical relationships. To begin to overcome these types of obstacles, a method known as meta-modeling has been developed to construct mathematical functions that act as analytic surrogates to large scale simulations. This research examines the introduction of second-order interactions for two types of asymptotically-standardized linear control variates to least squares regression and radial basis neural network meta-models for a queuing simulation. Extensions are made to the statistical framework for variance reduction of direct estimation of single response, single population simulations and the framework for meta-models of single response, multiple population simulations. As a result, the new extensions are shown to significantly outperform existing frameworks and also provide the means to interpret and better understand the system dynamics that manifest when a system exhibits an exceptional amount of variance.
Workplace behavioral antecedents of job performance: mediating role of thriving

ABSTRACT Thriving at work is a psychological state in which an employee experiences learning and vitality. Drawing on social exchange theory arguments, we examine the direct effects of two workplace behavioral antecedents on job performance. In addition, we explore the mediating influence of thriving at work on the relationship between workplace behavior and job performance. Utilizing a sample of 221 employees and their immediate supervisors, our results reveal a positive association between employee experiences of social behaviors (civility and compassion) and in-role job performance. We also find that thriving mediates this relationship. Our work highlights the importance of considering the influence of workplace behaviors in energizing employees and boosting their performance.
Unraveling the Complex Relationship between Environmental and Financial Performance ─ A Multilevel Longitudinal Analysis

Abstract Many business managers start to adopt environmental-friendly activities due to pressures and concerns regarding the potential adverse environmental impacts from their regular activities. However, there is no consensus regarding whether better environmental performance can lead to superior financial performance. Academic research also shows mixed or even contradictory results, possibly due to various limitations and problems. This study builds a multilevel framework to study the complicated relationship between environmental performance and financial return and synthesize those non-consensus results in many previous studies. An overall positive relationship is found between environmental and financial performance with variations across companies and industries due to the company- and industry-level heterogeneities. A negative relationship is also identified for some firms in some industry sectors. Moreover, the bi-directional causal relationship between environmental and financial performance also implies that it is necessary for companies to have sufficient financial resources in order to implement proactive environmental strategies and initiatives. The findings in this study make contributions to the literature, provide guidelines for managers and investors, and give implications for policymakers.
Evaluating the Relationships Between Science Class Success and Math Placement in High School

In order for students to perform well in science, they need opportunities to develop formal reasoning. Teachers in a private school in Latin America noted that students who had not yet completed Algebra I were struggling in a 9th-grade chemistry course more than their classmates who had completed Algebra I. The purpose of this causal, comparative action research was to determine if math placement was key to supporting student success in science. Data on achievement, as indicated by final exam scores in math, science, and English, were used from the cohort of students enrolled in 9th grade in 2015 and in 10th grade in 2016. A repeated measures ANOVA was used to determine if there was a difference in science achievement between students on an accelerated pathway and students on a nonaccelerated pathway. Spearman’s rho was used to determine if science achievement was correlated with math and English. It was found that there was a significant difference in science achievement for students on different pathways, as well as significant differences in achievement between the 2015 and 2016 school years. Additionally, it was found that both math and science and English and math had similar correlations. It was concluded that math provides significant opportunities to practice formal reasoning that is important for success in science.
External Equity Financing: Assessing the Interest of Construction Companies to List at Dar es Salaam Stock Exchange

This study examines construction companies’ interest to external equity through listing to Dar es Salaam Stock Exchange. This follows various reasons among others the fact that the sector is capital intensive and its contribution to the Gross Domestic Product. Another reason was the fact that data indicates tenders in construction industry are offered to foreign firms due to the lack of capital investment by the local companies. Despite all these, there is low motivation and interest of companies to use the capital market to acquire equity despite of it being the cheapest source of fund. Given the magnitude of construction industry business in Tanzania, there is no single company listed to the bourse to date. This study was thus done to assess the readiness, awareness, influence of profitability and internal framework of the company’s financial needs on the interest to list. A simple random sampling technique in selecting respondents and informants were selected purposively for data generated through questionnaire administered to them.
Organizational Attributes and Implementation of Enterprise Resource Planning: A Case of Kenya Medical Research Institute, Kilifi County

ERP technology has been embraced as an enterprise-wide package to integrate all necessary business functions into a single system with a shared database. It enhances decision making in business process and systemically harmonizes the activities of sales and marketing, manufacturing processes, operational management, product and service logistics, product purchasing, financial management, product development, and management of human resources. The study examined organizational attributes influencing implementation of enterprise resource planning in a medical research institute in Kenya. The study sought to explore the influence of top management support, implementation team, user support and resource availability on ERP implementation at KEMRI-Wellcome Trust research programme. The study used descriptive survey as research design. The target population was employees of KEMRI Wellcome Trust and Technobrain Kenya, the consulting firm. Data collection methods used were questionnaires. A preliminary study was carried out to test the rationality and reliability of the questionnaire. Considering the study was be descriptive in nature, data was analysed using descriptive statistics like frequencies and tables. Linear regression model was also used to validate if the relationship between the independent variables and the dependent variable is statistically important. The regression indicated that ERP implementation (the dependent variable) was highly influenced by top managements support, implementation team, user support and resource availability (the independent variable). Conclusively, the findings suggested that user support, resource availability, and top management had a central role in implementing effective ERP plans. This is an open-access article published and distributed under the terms and conditions of the Creative Commons Attribution 4.0 International License of United States unless otherwise stated. Access, citation and distribution of this article is allowed with full recognition of the authors and the source.