Miracle-dz/UniFAR-FTUs huggingface dataset:
Taxes, Institutions and Foreign Diversification Opportunities

Investors can access foreign diversification opportunities through either foreign portfolio investment (FPI) or foreign direct investment (FDI). The worldwide tax regime employed by the U.S. potentially distorts this choice by penalizing FDI, relative to FPI, in low-tax countries. On the other hand, weak investor protections in foreign countries may increase the value of control, creating an incentive to use FDI rather than FPI. By combining data on US outbound FPI and FDI, this paper analyzes whether the composition of US outbound capital flows reflects these incentives to bypass home and host country institutional regimes. The results suggest that the residual tax on US multinational firms’ foreign earnings skews the composition of outbound capital flows - a 10% decrease in a foreign country’s corporate tax rate increases US investors’ equity FPI holdings by approximately 10%, controlling for effects on FDI. Investor protections also seem to shape portfolio choices, though these results are not robust when only withincountry variation is employed.
Restructuring teams for the re-engineered organization

Executive Overview Despite the increased use of teams throughout American businesses, their success has been limited. The increased reliance on teams can be traced, in part, to the use of teams in Japan. But Japanese culture differs radically from U.S. culture. Techniques that work in a collectivist, homogeneous and conforming society (Japan) are not likely to survive wholesale transfer to an individualistic, heterogeneous and conflictive society (the U.S.). It is not surprising, then, that the use of teams has fostered results less dramatic in the U.S. than in Japan. We discuss how teams can be designed to take advantage of dominant (and unique) U.S. values. Teams that value and endorse dissent, that adopt fluid structures, and that recognize how they are embedded in a social and political network will succeed, even in a highly individualistic culture.
Treatment of focal liver tumors with percutaneous radio-frequency ablation: complications encountered in a multicenter study.

PURPOSE To report complications encountered by members of a collaborative group who performed radio-frequency (RF) ablation in patients with focal liver cancer. MATERIALS AND METHODS Members of 41 Italian centers that were part of a collaborative group used a percutaneous internally cooled RF ablation technique and a standardized protocol for follow-up. They completed a questionnaire regarding number of deaths, presumed cause of death, and likelihood of its relationship to the RF procedure; number and types of major complications; and types of minor complications and side effects. Enrollment included 2,320 patients with 3,554 lesions (size, 3.1 cm +/- 1.1 [SD] in diameter): 1,610 had hepatocellular carcinoma with chronic liver disease; 693 had metastases, predominantly from colorectal cancer (n = 501); and 17 had cholangiocellular carcinoma. Number and characteristics of complications (ie, deaths and major and minor complications) attributed to the procedure were reported. Data were subsequently analyzed with analysis of variance to determine whether the major complication rate was related to tumor size, number of ablation sessions, or electrode type (single or cluster). RESULTS In total, 3,554 lesions were treated. Six deaths (0.3%) were noted, including two caused by multiorgan failure following intestinal perforation; one case each of septic shock following Staphylococcus aureus-caused peritonitis, massive hemorrhage following tumor rupture, liver failure following stenosis of right bile duct; and one case of sudden death of unknown cause 3 days after the procedure. Fifty (2.2%) patients had additional major complications. The most frequent of these were peritoneal hemorrhage, neoplastic seeding, intrahepatic abscesses, and intestinal perforation. An increased number of RF sessions were related to a higher rate of major complications (P <.01), whereas the number of complications was not significantly different when tumor size or electrode type were compared. Minor complications were observed in less than 5% of patients. CONCLUSION Results of this study confirm that RF ablation is a relatively low-risk procedure for the treatment of focal liver tumors.
Competition, Strategy, and Business Performance

What drove business profitability during the 1980s and early 1990s? Management consultants, business academics, investment analysts, and the business press have all offered managers a range of theories. However, managers have not had access to much data about aggregate trends and broad influences on business profitability over time. With new reporting requirements in place in the United States around 1980, the problem was partly solved. This article uses the new data to categorize the performance of U.S. businesses over the past two decades. The study begins by grouping businesses based on the trajectory in their accounting profitability. If offers information on the average size, growth, financial-market premium, and sectoral affiliation of businesses within each of the groups. Finally, this article describes the broad strategic issues that arise for a subset of the businesses within each group. The result is a series of suggestions about shifts in the strategic issues that face businesses across the economy.
Effects of lipopolysaccharides stimulated Kupffer cells on activation of rat hepatic stellate cells.

AIM To study the effects of Kupffer cell-conditioned medium (KCCM) derived from lipopolysaccharide (LPS) treatment on proliferation of rat hepatic stellate cells (HSC). METHODS HSC and Kupffer cells were isolated from the liver of Wistar rats by in situ perfusion with pronase and collagenase and density gradient centrifugation with Nycodenz and cultured. KCCM was prepared and 3-(4,5-dimethylthiazol-2-yl)-2,5-diphenyltetrazolium bromide (MTT) colorimetric assay was used to detect HSC proliferation. The content of type IV collagen and laminin secreted by HSC in the HSC-conditioned medium was determined by radioimmunoassay. TGF-beta(1) production in the KCCM was detected by enzyme-linked immunosorbent assay (ELISA). RESULTS HSC and Kupffer cells isolated had high purity. One microgram per mililiter LPS-activated KCCM and unstimulated KCCM could significantly promote HSC proliferation [0.132+/-0.005 and 0.123+/-0.008 vs control group (0.100+/-0.003), P<0.01], and there was a difference between them (P<0.05). Ten microgram per mililiter LPS-activated KCCM (0.106+/-0.010) was unable to promote HSC proliferation (P>0.05). Adding anti-TGF-beta(1) antibodies could suppress the proliferation promoted by unstimulated KCCM and LPS (1 microg/ml)-activated KCCM (0.109+/-0.009 vs 0.123+/-0.008, 0.115+/-0.008 vs 0.132+/-0.005, P<0.01). LPS (1 microg/ml or 10 microg/ml) could not promote HSC proliferation immediately (0.096+/-0.003 and 0.101+/-0.004 vs 0.100+/-0.003, P>0.05). There was a parallel behavior between HSC proliferation and increased ECM level. One microgram per mililiter LPS-activated KCCM contained a larger amount of TGF-beta(1) than unstimulated KCCM. CONCLUSION The technique for isolation of HSC and Kupffer cells described here is simple and reliable. KCCM stimulated by LPS may promote HSC proliferation and collagen accumulation, which are associated with hepatic fibrogenesis.
Comply or Explain: Investor Protection Through the Italian Corporate Governance Code

Nearly 86% of listed Italian companies now claim to be in formal compliance with the provisions of the Italian Corporate Governance Code, which, like many codes in EU countries, give companies the option to either comply or explain their decision not to do so. But in the wake of the recent financial crisis, the effectiveness of such self-regulatory corporate governance codes has been subjected to increasing skepticism. In particular, critics wonder whether such governance codes actually encourage the adoption of best practices and promote better governance. This article presents a governance indicator (CoRe) devised by the authors that attempts to assess the actual, or effective, levels of compliance with the Italian Corporate Governance Code in terms of listed companies' procedures for dealing with related party transactions (RPTs). The authors report that the companies' level of effective compliance with regard to RPTs is considerably lower than their publicly reported levels of formal compliance. The authors also report that higher levels of effective compliance tend to be found in companies where (1) minority shareholders have appointed one or more directors; (2) independent directors serve on important committees; and (3) there are significant holdings by institutional investors - particularly foreign investors - who participate in general shareholder meetings.
Microbial community changes in biological phosphate-removal systems on altering sludge phosphorus content.

Biomarkers (respiratory quinones and cellular fatty acids) and denaturing gradient gel electrophoresis (DGGE) of PCR-amplified 16S rRNA genes were used to characterize the microbial community structure of lab-scale enhanced biological phosphate-removal (EBPR) systems in response to altering sludge phosphorus (P) content. All the data suggest that the microbial community structures of sludge samples with a P content between 8 and 12.3% (sludge dry weight) (i.e. good EBPR activity) were very similar, but differed from those with 2% P content (i.e. no EBPR activity). For all samples analysed, ubiquinones Q-8 and Q-10, menaquinone MK-8(H4), and fatty acids C16:0, C16:1 omega9c and C18:1, omega11c were the major components. The dominance of Q-8, Q-10 and MK-8(H4) suggested that large numbers of organisms belonging to the beta and alpha subclasses of the Proteobacteria and the Actinobacteria from the high G+C Gram-positive bacteria, respectively, were present. DGGE analysis revealed at least 7-9 predominant DNA bands and numerous other fragments in each sample. Five major DGGE fragments from each of the 2% and 12% P-containing sludge samples, respectively, were successfully isolated and sequenced. Phylogenetic analysis of the sequences indicated that both 2% and 12% P-containing sludge samples shared three common phylotypes that were separately affiliated with a novel bacterial group from the gamma subclass of the Proteobacteria, two MK-8(H4)-containing actinobacteria previously isolated from the 2% P-containing sludge, and a Caulobacter spp. in the alpha subclass of the Proteobacteria. The phylogenetic analysis also revealed phylotypes unique to both sludge samples. Changes in sludge P content therefore had an effect on the composition and abundance of the predominant microbial populations, though specific phylotypes could not be unequivocally associated with EBPR.
Activation of the signal transducer and activator of transcription 1 signaling pathway in thymocytes from HIV‐1‐infected human thymus

Objective: To identify HIV‐induced host factors in the severe combined immunodeficient (SCID)‐hu Thy/Liv mouse that may contribute to HIV pathogenesis in the thymus. Design: To identify genes specifically altered by HIV‐1 infection using the cDNA microarray assay, SCID‐hu Thy/Liv organs derived from the same donors were used. Therefore, no genetic variations existed between HIV and mock‐infected samples. In addition, the 12–14 day post‐infection timepoint was chosen because no significant thymocyte depletion was detected in HIV‐infected Thy/Liv organs, so mRNA from the same cell types could be compared. Methods: Using SCID‐hu Thy/Liv mice constructed from the same donor tissues, we analysed the expression of 9183 host genes in response to HIV infection with cDNA microarrays. Expression of selected genes with more than threefold induction was confirmed by measuring RNA (reverse transcriptase–polymerase chain reaction; RT–PCR) and proteins. Results: HIV‐1 (JD or NL4–3) infection of the SCID‐hu Thy/Liv mouse led to more than threefold induction of 19 genes, 12 of which were IFN‐inducible and six were unknown EST clones. We confirmed induction by RT–PCR and protein blots. Both signal transducer and activator of transcription (STAT)1 and STAT2 proteins were induced, and STAT1 was also activated by phosphorylation at the Tyr701 and Ser727 sites in human thymus infected with HIV‐JD or NL4–3. Treatment of human fetal thymus organ culture or human thymocytes with recombinant HIV‐1 gp120 proteins also led to induction or activation of STAT1. Conclusion: HIV‐1 infection of the thymus led to activation of the STAT1 signaling pathway in thymocytes, which may contribute to HIV‐1 pathogenesis in the thymus.
Miniaturized Sensor for Microbial Pathogens DNA and Chemical Toxins

A miniaturized, inexpensive and battery operated ultra-sensitive nanomaterial-based fluorescence resonance energy transfer (NSET) probe has been developed and evaluated for screening microbial pathogens DNA and chemical toxins at high sensitivity and selectivity. This paper illustrates application of the NSET portable device to detect microbial pathogens, e.g., Campylobacter, C. perfringens, and S. aureus DNA based on quenching of the NSET signal by gold nanoparticles to detect single base-mismatch DNA with high sensitivity (600 fM). Presence of the fluorescence signal indicates that the target DNA has been detected. We also report that the NSET probe is capable of screening chemical toxins like mercury from contaminated water with excellent sensitivity (2 parts-per-trillion) and selectivity for over competing analytes.
The course of depression in adult outpatients. Results from the Medical Outcomes Study.

OBJECTIVE To compare the course of depression during a 2-year period in adult outpatients (n = 626) with current major depression, dysthymia, and either both current disorders ("double depression") or depressive symptoms with no current depressive disorder. METHODS Depressed patients visiting 523 clinicians (mental health specialists and general medical providers) were identified using a two-stage screening procedure including the Diagnostic Interview Schedule. The course of depression was assessed in 2 follow-up years with a structured telephone interview based on the format of the Diagnostic Interview Schedule. RESULTS Baseline severity of depressive symptoms was greatest in patients with double depression, but initial functional status was poor in those with dysthymia with or without concurrent major depression. Patients with dysthymia had the worst outcomes, those with current major depression alone had intermediate outcomes, and those with subthreshold depressive symptoms had the best outcomes. Even the latter group, however, had a high incidence (25%) of major depressive episode over 2 years. Initial depression severity and level of functional status accounted for more explained variance in outcomes than did type of depressive disorder. CONCLUSIONS The findings emphasize the poor prognosis associated with dysthymia even in the absence of major depression; the prognostic significance of subthreshold depressive symptoms; and the clinical significance of assessing level of severity of symptoms as well as functional status and well-being, regardless of type of depressive disorder.
The age pattern of human capital and regional productivity: A spatial econometric study on german regions

We explore the impact of the age structure of human capital on average regional productivity by applying a spatial econometric analysis based on an augmented Lucas-type production function. We also apply a new definition of regional human capital focusing on its availability. The estimates provide evidence that there are age specific human capital effects in Germany and that a temporary increase in regional productivity could occur during the demographic transition. Furthermore, it becomes clear that the availability-based definition of human capital provides additional insight and so, could enrich future studies on regional human capital. Copyright (c) 2009 the author(s). Journal compilation (c) 2009 RSAI.
Food choice: student consumers' decision‐making process regarding food products with limited label information

Food label information theoretically facilitates consumer decision-making and food choice, but the extent to which consumers actually use this information during decision-making is a subject of considerable debate. Therefore, this study focused on the importance of label information in student consumers' decision-making process when exposed to limited label information food in a cafeteria environment. Because of a paucity of research in this area, a qualitative research approach that was exploratory in nature was used, accompanied by semi-structured interviewing and a vignette. Undergraduate students from the North-West University, Potchefstroom Campus, in South Africa served as the target population. The findings suggest that internal and product-related strategies are applied when food choices are made whereby the importance of label information only features in the latter strategy. Student consumers with a label interest were more inclined to use label information strategies in the absence of complete label information to base food choice on. Those with a lack of label interest made use of alternative strategies using product and personal-related information, such as freshness and product knowledge to make decisions. The decision-making process was more complex because of insufficient label information and product appearance, and thus previous experiences and habitual purchasing became more important to participants. Student consumers should be supported to make healthier food choices through food manufacturers supplying cafeteria products with more complete label information and by providing students with the knowledge to use label information correctly through educational programmes.
The Causes and Consequences of Accelerated Stock Repurchases

We examine the choice between accelerated share repurchase (ASR) and open market repurchase (OMR) as repurchase mechanisms between 2004 and 2007. For a sample of ASRs and OMRs that actually buy shares in the announcement quarter, we find that ASR firms have lower market-to-book ratios, less cash, but greater managerial entrenchment. Prior to repurchase, ASR firms are subject to significantly more takeover rumors than OMR firms are, and this, along with entrenchment and undervaluation, affects the choice to use ASRs. ASR firms experience positive average abnormal returns both before and after the announcement. Moreover, the latent takeover probability is significantly lower for both ASR and OMR firms (when compared with pre-announcement levels), but the reduction for ASR firms is more pronounced. Our results suggest that repurchases, and especially ASRs, indeed make a firm a less attractive prospect for takeover.
Value of Latent Information: Alternative Event Study Methods

This paper presents an econometric model to value latent information underlying corporate events. This model computes the market's inference of the value of latent information from the probability of an event, conditional on firm-specific, preevent information. It provides a convenient framework for testing significance of preevent information variables, such as accounting attributes and lagged stock return. Simulations show that this mode l, when applied to both event and preevent period data, can decrease th e incidence of bias in event studies. If restricted to only event peri od data, this model reduces to a truncated regression and does not perf orm as well as standard procedures. Copyright 1993 by American Finance Association.
Reconceptualizing Women's Paid Informal Work: Some Lessons from Lower-Income Urban Neighbourhoods

This paper evaluates critically whether women‘s paid informal work is low-paid market-like work conducted for the purpose of economic gain. Drawing upon interviews with 400 households in UK lower-income urban neighbourhoods, we show that only a small segment of the paid informal work conducted by women is of this character. The vast bulk is undertaken for and by friends, relative and neighbours under non-market relations for reasons associated with redistribution and sociality. Given this finding, we thus conclude that a reconsideration is required of whether eradication alone is always the appropriate policy response.
In patients with myelodysplastic syndromes response to rHuEPO and G‐CSF treatment is related to an increase of cytogenetically normal CD34+ cells

The in vivo effect of recombinant human erythropoietin (rHuEpo) and granulocyte colony‐stimulating factor (G‐CSF) combined treatment on CD34+ cells was evaluated by fluorescence in situ hybridization (FISH) in 13 myelodysplastic syndrome (MDS) patients with known cytogenetic abnormalities. After treatment, responsive patients presented a significantly lower proportion of FISH abnormal CD34+ cells than before treatment (P = 0·003), and in comparison with unresponsive cases (P = 0·007). Response to treatment was associated with a reduced degree of apoptosis in CD34+ cells (P = 0·021): however, no difference in telomere length was observed in responsive patients after growth factor administration. Although the number of patients analysed was relatively small, the present data suggest that, in MDS patients, response to rHuEpo and G‐CSF may be related to the proliferation of karyotypically normal but potentially defective CD34+ progenitor cells.
Risk factors for bronchiolitis obliterans syndrome in allogeneic hematopoietic stem cell transplantation

Background The occurrence of bronchiolitis obliterans syndrome (BOS) after allogeneic hematopoietic stem cell transplantation (allo‐HSCT) is rare but severe. We examine the role of pre‐HSCT chemotherapeutic exposure, pre‐HSCT comorbidities, and transplant‐related complications in the development of BOS after allo‐HSCT. Methods A nested case‐control study was designed. Cases with BOS and controls matched for the year of allo‐HSCT and length of the follow‐up were identified from a cohort of 1646 patients who underwent allo‐HSCT for treatment of hematologic malignancies between 2006 and 2011. Antithymocyte globulin was used in the partial matched related and unrelated matched donor HSCT, or patients with severe aplastic anemia. Results Thirty‐six patients suffered from BOS; the mean age at the time of presentation was (32.7±12.4) years, and the mean time to presentation was (474±350) days post‐HSCT. A pre‐HSCT cyclophosphamide dose of ≥3.2 g/m2 (OR=8.74, P=0.025), chronic graft‐versus‐host disease (moderate to severe) (OR=12.02, P=0.000), and conditioning regimens without antithymocyte globulin (OR=2.79, P=0.031) were independently associated with BOS. Conclusions We found that higher pre‐HSCT cyclophosphamide exposure, a conditioning regimen without antithymocyte globulin, and moderate to severe chronic graft‐versus‐host disease are significantly and independently associated with BOS. Based on these results, we can identify patients who are at a higher risk of developing BOS after allo‐HSCT, select a more appropriate therapeutic strategy, and improve the outcome of HSCT recipients.
Second-Mover Advantages in Dynamic Quality Competition

This paper explores a dynamic model of product innovation, extending the work of Dutta, Lach, and Rustichini (1995). It is shown that if R&D costs for quality improvements are low, the dynamic competition is structured as a race for being the pioneer firm with payoff equalization in equilibrium, but switches to a waiting game with a second-mover advantage in equilibrium if R&D costs are high. Moreover, the second-mover advantage increases monotonically as R&D becomes more costly. Copyright (c) 2001 Massachusetts Institute of Technology.