Miracle-dz/UniFAR-FTUs huggingface dataset:
Governing Finance: Global Imperatives and the Challenge of Reconciling Community Representation with Expertise

Abstract Although the regulation of financial institutions and global markets has been subject to extensive research and policy practice, regulation often comes second to governance: regulation cleans up failures of governance in the management and performance of private financial institutions and markets. There are two theories of the nature and practice of governance; one emphasizes its functional performance, whereas the other emphasizes its political foundations. In this article, I suggest that best practice seeks to reconcile functionalism with community representation and that representation is a virtue in its own right and need not be seen as antithetical to functional efficiency. To sustain these arguments, I note the distinctive characteristics of financial decision making under risk and uncertainty, using simple examples to underscore the benefits of good governance. I then present criteria for well-governed financial institutions, specifically public and private pension funds, with implications for best practice as illustrated by four case studies of funds from Canada, Europe, and the United States. The final section considers the lessons of these case studies for the design of sovereign wealth funds and raises questions as to whether there are limits to reconciliation, given the acceleration of global financial integration.
Equilibrium Exchange Rates: Assessment Methodologies

The paper describes six different methodologies that have been used to assess the equilibrium values of exchange rates and discusses their limitations. It applies several of the approaches to data for the United States as of 2006, illustrates that different approaches sometimes provide substantially different assessments, and asks which methodologies deserve the most weight in such situations. It argues that while it is generally desirable to consider the implications of several different approaches, since different approaches provide different types of perspectives, two of the methodologies seem particularly relevant for identifying threats to macroeconomic stability and growth.
‘New combinations’ in the economy and in economics: a tribute to Stanley Metcalfe

Scientific analysis is not merely a logically consistent process that starts with some primitive notions and then adds to the stock in a straight-line-fashion. It is not simply progressive discovery of an objective reality. (Schumpeter 1954, 4) The paper discusses an important case of the production of economic ideas by means of economic ideas: Stan Metcalfe's view of the restlessness of capitalism was shaped by ideas he had encountered in Schumpeter, and Schumpeter's view was influenced by ideas he had encountered in Marx. The three authors’ aim can be said to consist in an elaboration of a histoire raisonnée (Schumpeter) of capitalism, in which the development of technology and science and its translation into economic analytical terms occupies centre stage.
Peripheral thyroid dysfunction in depression

The involvement of the thyroid gland and thyroid hormones is generally believed to be important in the aetiopathogenesis of major depression. Major support comes from studies in which alterations in components of the hypothalamic–pituitary–thyroid (HPT) axis have been documented in patients with primary depression. However, screening thyroid tests are often routine and add little to the diagnostic evaluation. Overt thyroid disease is rare among depressed inpatients. The finding that depression often co-exists with autoimmune subclinical thyroiditis suggests that depression may cause alterations in the immune system, or that in fact it could be an autoimmune disorder itself. The outcome of treatment and the course of depression may be related to thyroid status as well. Augmentation of antidepressant therapy with the co-administration of thyroid hormones (mainly T3) is a well-documented treatment option for refractory depressed patients. Review of the literature suggests that there are no conclusive data on the role of thyroid function in depression. It is clear that depression is not characterised by an overt thyroid dysfunction, but it is also clear that a subgroup of depressed patients may manifest subtle thyroid abnormalities, or an activation of an autoimmune process. There is a strong possibility that the presence of a subtle thyroid dysfunction is a negative prognostic factor for depression and may demand specific therapeutic intervention.
Sarbanes-Oxley and the New Form 990

Eighty-five arts and culture nonprofits were surveyed to determine the extent to which their financial and managerial practices conform to Sarbanes-Oxley and the New Form 990. Approximately half of the sample had audit committees that included unpaid financial experts. Almost all of the nonprofits engaged external accountants or CPA firms to conduct annual audits, but only 40% required their ED or CFO to sign the financial statements. Approximately half of the nonprofits had conflict of interest forms, written ethics policies, and whistle-blower policies. According to the results, the most important reason for voluntarily complying with Sarbanes-Oxley (SOX) was because it promotes sound financial management and “contributes to an internal culture of transparency. ” Compliance was less motivated by donor retention, board directives, or fear of governmental regulation. This survey found that the size of a nonprofit’s annual operating budget and its age are directly related to its level of compliance with SOX.
Live Broadcasting, Gate Revenue, and Football Club Performance: Some Evidence

Abstract This paper presents new evidence concerning the main argument of the English Premier League for collective arrangements in selling television broadcast rights. Matches that are broadcast live on television can be considered as a substitute for watching at the stadium. New panel-data show that broadcasting live has a small negative effect on gate revenue for the best performing clubs and a much larger effect for the worst performing clubs. However, the marginal cost is outweighed by the marginal revenue, concluding that restrictions on quantity stemming from collective arrangements are detrimental to the consumers, broadcasters, and clubs themselves.
Information loss, knowledge transfer cost and the value of social relations

The literature on knowledge transfer has long recognized the importance of social relations as a conduit of knowledge transfer. Two distinct features of social relations have been examined extensively: their strength and structure. Their effects on knowledge transfer remain unclear, however, and researchers have attended to one or the other of two constraints — information loss and transfer cost — in efforts to elucidate them. Yet, few studies analyse the joint effects of these constraints on knowledge transfer in a network directly. To examine their interaction, this article develops an agent-based simulation and experiment with four different kinds of relations: a sparse network with weak ties, a sparse network with strong ties, a dense network with weak ties and a dense network with strong ties. At the individual level, the study finds that dense networks comprised of weak ties afford more valuable knowledge if information loss is trivial and the cost of initiating ties is larger than the cost of transfer, but that the value of density declines rapidly as information loss increases. At the organizational level, in contrast, sparse networks with strong ties appear optimal for knowledge transfer via social relations.
Parametric estimation of micro-Doppler on spatial precession cone

Precession is significant for midcourse discrimination. By modelling micro-Doppler of spatial precession cone and analysing its modulation characteristic, an instantaneous frequency estimation method based on an effective quadratic time-frequency analysis technique named S-method combined with the inverse Radon transform is proposed to extract micro-Doppler feature. Simulation results with electromagnetic calculation data show the effectiveness and robustness of this novel approach.
Financial Consequences in Foreign Subsidiary Manager Performance Evaluations

ABSTRACT This explorative study contributes to the limited body of knowledge on the financial impacts of using multiple forms of controls in managerial performance evaluations. The study explores (1) how short-term profitability is affected by headquarters' emphasis on financial, nonfinancial and selected behavioral controls in the performance evaluation of overseas subsidiary managers, and (2) whether the effects of such evaluations vary with perceived environmental changes. Documentary and survey data for a sample of multinational companies headquartered in Finland propose that the emphasis of financial controls by top management improves short-term profitability more than an emphasis on nonfinancial or behavioral controls. Simultaneous emphasis of all three types of controls does not significantly increase short-term profitability over an emphasis on financial controls, because the positive effect of behavioral controls is mostly offset by a negative effect of nonfinancial controls. Perceived environmental changes appear to moderate the relationship between the headquarters' emphasis on nonfinancial controls and short-term profitability. These findings imply that in the short-term and regardless of the environmental contingencies analyzed, financial controls are more effective than nonfinancial or behavioral controls in improving profitability, but packages comprising financial and behavioral (action accountability) controls in particular can improve short-term profitability even more.
Is International Emissions Trading Always Beneficial?

Economic efficiency is a major argument for international emissions trading under the Kyoto Protocol. We show that permit trading can be welfare decreasing for countries, even though private trading parties benefit. The result is a case of “immiserizing” growth in the sense of Bhagwati where the negative terms of trade and tax interaction effects wipe out the gains from trading. Simulation and welfare decomposition results based on a CGE model of the global economy show that under EU-wide trading countries that are net permit sellers generally lose, due primarily to the existence of distortionary energy taxes.
Economic freedom, per capita income and economic growth

Based on cross-section data, this paper explores the relationship between economic freedom and the economic performance of low, middle and high income countries. The regression results show that there is a direct relationship between the economic freedom index and per capita income in low income countries and all countries as a whole. The evidence also indicates that there is a direct relationship between the economic freedom index and the growth rate of per capita income in high income countries and all countries as a whole.
Jet lag and sleepiness In aircrew

SUMMARY Jet‐lag and day‐time sleepiness cannot be avoided in transmeridian operations, because work hours of aircrews interfere with the circadian system through irregular work‐rest schedules and rapid time‐zone transitions. Although the primary cause of accidents is usually the human factor, jet lag and sleepiness have seldom been officially identified as causes of inadequate functioning in the cockpit. However, research clearly indicates that flights at night and/or across time zones will impair performance and reduce safety. Research on countermeasures have focused on on‐board napping, crew augmentation, behavioural strategies against jet‐lag, light treatment and melatonin administration. Regrettably, scientific knowledge has been successfully transmitted to only a very few national authorities responsible for work hours of aircrews.
The effects of war losses on mortality estimates for Italy

For countries that experience substantial war losses in a given time period, the exclusion of military deaths can have an important impact on estimates of mortality and life expectancy. In this paper, we start by reviewing Vallin’s work in accounting for French war losses. We then attempt to apply comparable methods to Italy in order to account for the effects of war. The results indicate that estimates currently available from the Human Mortality Database (HMD) greatly underestimate period mortality during wartime among all Italian males, and may even underestimate mortality among civilian males. Finally, we discuss how failing to account for war mortality presents problems in making inter-country mortality comparisons.
Autologous Tumor Induction of Cytotoxic T Cells Against the Cancer Patients Are Required for Optimal T Lymphocytes from + Tumor-Specific CD4

This study focuses on the speciﬁc CD4 1 T cell requirement for optimal induction of cytotoxicity against MHC class II negative autologous tumors (AuTu) collected from patients with various types of cancer at advanced stages. CD4 1 T cells were induced in cultures of cancer patients’ malignant effusion-associated mononuclear cells with irradiated AuTu (mixed lymphocyte tumor cultures (MLTC)) in the presence of recombinant IL-2 and recombinant IL-7. Tumor-speciﬁc CD4 1 T cells did not directly recognize the AuTu cells, but there was an MHC class II-restricted cross-priming by autologous dendritic cells (DCs), used as APC. CD8 1 CTL, also induced during the MLTC, lysed speciﬁcally AuTu cells or DCs pulsed with AuTu peptide extracts (acid wash extracts (AWE)) in an MHC class I-restricted manner. Removal of CD4 1 T cells or DCs from the MLTC drastically reduced the CD8 1 CTL-mediated cytotoxic response against the AuTu. AWE-pulsed DCs preincubated with autologous CD4 1 T cells were able, in the absence of CD4 1 T cells, to stimulate CD8 1 T cells to lyse autologous tumor targets. Such activated CD8 1 T cells produced IL-2, IFN- g , TNF- a , and GM-CSF. The process of the activation of AWE-pulsed DCs by CD4 1 T cells could be inhibited with anti-CD40 ligand mAb. Moreover, the role of CD4 1 T cells in activating AWE-pulsed DCs was undertaken by anti-CD40 mAb. Our data demonstrate for the ﬁrst time in patients with metastatic cancer the essential role of CD4 1 Th cell-activated
Risk factors for the development of renal dysfunction in hospitalized patients with cirrhosis

OBJECTIVE:Hospitalized patients with liver cirrhosis are predisposed to acute renal failure. We sought to identify the role of liver disease severity, infectious complications, and in-hospital treatment with aminoglycosides as risk factors for acute renal failure among patients with cirrhosis.METHODS:In a retrospective, case-control study at the Albuquerque VA Medical Center, electronic and manual chart review was employed to identify all hospitalized patients with a diagnosis of cirrhosis and normal renal function (serum creatinine ≤1.3 mg/dl) at the time of hospitalization. Cases were defined as patients who developed renal dysfunction (increase in creatinine of ≥1.0 mg/dl) within 15 days of hospitalization, and the remaining patients were controls.RESULTS:Of 93 patients, there were 23 cases and 70 controls. There were no significant differences in age, etiology of cirrhosis, serum levels of albumin, or bilirubin, prothrombin time, encephalopathy, bacteremia, urinary tract infection, or occurrence of esophageal variceal bleeding. Patients who developed renal dysfunction were more likely to have ascites (87% vs 41%, p < 0.01), spontaneous bacterial peritonitis (44% vs 1%, p < 0.01), and treatment with i.v. aminoglycosides (48% vs 19%, p < 0.01). In a multivariate logistic regression analysis, aminoglycosides treatment was a strong risk factor for renal dysfunction (adjusted odds ratio = 4.0, 95% CI = 1.4–11), independent of the severity of liver disease or peritonitis.CONCLUSION:Avoidance of aminoglycoside antibiotics may reduce the occurrence of renal dysfunction in hospitalized patients with cirrhosis. In addition, close monitoring of renal function should be employed among patients with ascites and/or spontaneous bacterial peritonitis.
Amiselimod, a novel sphingosine 1‐phosphate receptor‐1 modulator, has potent therapeutic efficacy for autoimmune diseases, with low bradycardia risk

We conducted preclinical and clinical studies to examine the pharmacological, particularly cardiac, effects of amiselimod (MT‐1303), a second‐generation sphingosine 1‐phosphate (S1P) receptor modulator, designed to reduce the bradycardia associated with fingolimod and other S1P receptor modulators.
Market-based housing reforms and the ‘right to the city’: the variegated experiences of New York, Amsterdam and Tokyo

Market-based reforms have played important parts in restructuring urban housing sectors in recent decades and have increasingly marginalised or excluded lower income groups, especially in the so-called ‘global cities’ where market pressures have been strongest. While accounts of housing policy and market transformations in cities are not uncommon, existing studies demonstrate a strong North American bias. Moreover, comparative analyses have so far been rare. In this paper, neoliberal transformations in housing practices and conditions are examined in three highly differentiated and contrasting cities from three different continents: New York, Amsterdam and Tokyo. The analysis demonstrates remarkable variegation in the manifestation of neoliberalisation of housing as well as considerable path dependency in terms of housing policies, practices and market restructuring. What becomes evident is that both symbolic and de facto erosion of the ‘right to the city’ for low-income residents, while a relatively ubiquitous outcome of housing marketisation, is strongly mediated by local housing practices, structural constraints and policy legacies and regimes.
Promoting Distrust? A Chronicle of the 2005 British General Election Advertising Campaigns

This paper focuses on the advertising created for the 2005 British general election battle - specifically the national advertising campaigns for the Labour, Conservative and Liberal Democrat parties. Rich accounts of their advertising campaigns are given and contrasted with their 2001 advertising campaigns. Our analysis indicates that even though the 2005 election was set against a backdrop of low public trust in politicians and political parties, the advertising was not designed to build trust, principally because of the focus – by Labour and the Conservatives particularly – on denigrating the opposition through attack advertising styles. The paper concludes by reflecting on the increasing use of attack advertising by British political parties and the potential consequences of this on the British democratic process. This article forms part of our wider study on the 2005 election advertising, details of which can be obtained from the authors.
A Novel Lectin, DltA, Is Required for Expression of a Full Serum Resistance Phenotype in Haemophilus ducreyi

ABSTRACT Haemophilus ducreyi, the causative agent of chancroid, is highly resistant to the complement-mediated bactericidal activity of normal human serum (NHS). Previously, we identified DsrA (for ducreyi serum resistance A), a major factor required for expression of the serum resistance phenotype in H. ducreyi. We describe here a second outer membrane protein, DltA (for ducreyi lectin A), which also contributes to serum resistance in H. ducreyi. Isogenic dltA mutants, constructed in 35000HP wild-type and FX517 dsrA backgrounds, were more susceptible to the bactericidal effects of NHS than each respective parent, demonstrating the additive effect of the mutations. Furthermore, expression of dltA in H. influenzae strain Rd rendered this highly susceptible strain partially resistant to 5% NHS compared to a vector-control strain. Although primary basic local alignment search tool analysis of the dltA open reading frame revealed no close bacterial homologue, similarity to the β-chain of the eukaryotic lectin ricin was noted. DltA shares highly conserved structural motifs with the ricin β chain, such as cysteines and lectin-binding domains. To determine whether dltA was a lectin, ligand blots and affinity chromatography experiments were performed. DltA was affinity purified on immobilized lactose and N-acetylgalactosamine, and N-glycosylated but not glycosidase-treated model glycoproteins bound DltA. These data indicate that DltA is a lectin with specificity for lactose-related carbohydrates (CHO) and is important for H. ducreyi serum resistance.
Bioavailability, Pharmacokinetics, and Safety of Belimumab Administered Subcutaneously in Healthy Subjects

This Phase 1 study evaluated the absolute bioavailability, pharmacokinetics (PK), tolerability, and safety of belimumab 200 mg/mL administered subcutaneously (SC) to healthy subjects as a single dose and as multiple doses up to 240 mg. In all, 118 subjects (age range 18–55 years; body weight 51–115 kg) were enrolled. Seventy‐eight subjects received a single dose of belimumab 240 mg intravenously, or 2 × 120, 1 × 240, or 1 × 200 mg SC. Forty subjects received 4 weekly injections of belimumab 2 × 120 or 1 × 200 mg SC. Randomization was stratified by weight (<75 kg vs. ≥75 kg) and injection site (abdomen vs. thigh). Following single belimumab SC doses, bioavailability was 74–82%, indicating that belimumab SC was well absorbed, and bioavailability was similar among the three SC groups. Following 4 weekly belimumab SC doses, bioavailability was similar to that following single SC administration. Four subjects had persistent positive immune responses; neutralizing antibodies in these subjects were not detected and there was no apparent impact on PK. Belimumab was generally well tolerated after single and multiple SC dosing, and 200 mg SC weekly dosing is expected to provide an exposure similar to 10 mg/kg intravenously every 28 days.
Predictable Excess Fixed-Income Returns

Analysis of the factors that drive bond term premiums is more than an academic exercise. The ability to identify such factors is tantamount to being able to predict fixed-income returns. This research using various-maturity government of Canada securities during 1960 - 1994 demonstrates that fixed-income returns net of the short rate of interest were predictable for the period using lagged aggregate stock market returns and the slope of the term structure. Dynamic simulations conditioned on these correlations would have been able to enhance return in an economicially significant fashion.
The Question of Committee Bias Revisited

This study revisits the question of whether committees are biased in their policy outputs—pursuing policies at odds with noncommittee members. We find evidence that committees in the House are biased: Most committees are either more divided than the larger membership in the House, or there is a greater consensus within the committee than among noncommittee members. These patterns extend across all types of committees.