Miracle-dz/UniFAR-FTUs huggingface dataset:
Is Store or Service Satisfaction More Important to Customer Loyalty

What has the greater influence on discount retail customer loyalty – satisfaction with the store, or satisfaction with its customer service? The relative influence of these satisfaction elements is important for marketers to understand as billions of dollars are spent annually on efforts to influence customer loyalty (Shi, Prentice, & He, 2014; Sorescu & Sorescu, 2016; Tarasi, Bolton, Gustafsson, & Walker, 2013). Satisfaction and loyalty both consist of two separate dimensions. Customer satisfaction consists of a tangible or product based dimension as well as an intangible or service based dimension (Devaraj, Matta, & Conlon, 2001; Walsh, Evanschitzky, & Wunderlich, 2008). In the present research, the tangible dimension of customer satisfaction examined is store satisfaction (Brucks & Zeithaml, 1987; Garvin, 1984; Jayasankaraprasad & Kumar, 2012; Menon & Chowdhury, 1995; Thomas, 2013). Service satisfaction represents the intangible dimension of satisfaction and relates to the customer’s experience with store personnel and the customer service that they receive (Dabholkar, Thorpe, & Rentz, 1996; Walsh et al., 2008). Customer loyalty also consists of two distinct dimensions, attitudinal loyalty and behavioral loyalty (Rauyruen & Miller, 2007). Previous research related to satisfaction influences on loyalty has often focused on the overall construct of customer loyalty rather than differentiating between its attitudinal and behavioral components.
Taking anti‐neutrophil cytoplasmic antibody (ANCA) testing beyond the limits

The application of anti-neutrophil cytoplasmic antibody (ANCA) testing has received much interest since ANCA were discovered [1] and since they were reported to be useful in both the diagnosis and monitoring of disease activity in Wegener’s granulomatosis (WG) [2]. Although there is little doubt that the recognition of the association between the presence of ANCA and active vasculitis has had a very positive influence on research on the pathogenesis and treatment of ANCA-associated diseases (reviewed by Savage [3]), there are reasons to worry about the application of this recently gained knowledge in clinical practice. In this comment the problems with the clinical application of ANCA tests are categorized for the sake of clarity as (i) standardization problems, (ii) difficulties with application of the test in the appropriate clinical context and (iii) the assumption that ANCA titres alone are reliable and sufficient to monitor disease activity and therapy during follow-up of patients.
OVERVIEW OF INTERPRETIVE STRUCTURAL MODELING

Interpretive Structural Modelling is a wellproven method, in this method deals with complex relationship among the identifying items, which are define the issue. ISM generates a visual model of identifying items, which is directly and indirectly related factors, and explains strong and weak driving power and dependences power of identifying items. In this methodology, started with an identification of factors, which are related to issues. After that a logically applicable subordinate connection is chosen. Having chosen the relevant connection, an auxiliary selfinteraction matrix (SSIM) is creating dependent on pair wise comparison of factors. After this, SSIM is changing over into a reachability matrix (RM) and its transitivity is checked. When transitivity inserting is finished, a graphical model is obtained. At that point, the dividing of the components and an extraction of the basic model called ISM is determined
The World’s Banker: On the Rise in U.S. Wealth Inequality

e U.S. economy is oen referred to as the “banker to the world,” due to its unique role in supplying global reserve assets and funding foreign risky investment. is paper develops a general equilibrium model to analyze and quantify the contribution of this role to rising wealth concentration among American households. I highlight the following points: 1) nancial globalization raises wealth inequality in a nancially-developed economy initially due to foreign capital pressing up domestic asset prices; 2) much of this increase is transitory and can be reversed as future expected returns on domestic assets fall; and 3) despite the low-interest-rate environment, newly accessed foreign capital provides incentives for auent households to reallocate wealth toward risky assets while impoverished households increase their debt. Wealth concentration ensues only if this rebalancing eect is large enough to counteract diminished return on domestic assets. antitative analysis suggests that global nancial integration alone can account for 34% to 55% of the observed increase in the current top one percent wealth share in the U.S., but indicates a possible reversal in the future. ∗Email: taehoonkim01@g.harvard. edu. I am deeply grateful to my advisors — Gita Gopinath, Pol Antràs, Kenneth Rogo, and Jeremy Stein — for their thoughtful advice and continuous support. I would also like to thank John Campbell, Vu Chau, ummim Cho, Xiang Ding, Emmanuel Farhi, Xavier Gabaix, Jesus Fernandez-Villaverde, Elhanan Helpman, Yosub Jung, Casey Kearney, Spencer Kwon, Andrew Lilley, Maeo Maggiori, Michael-David Mangini, Ben Moll, Giselle Montamat, Elisa Rubbo, Gea Hyun Shin, Hillary Stein, Ludwig Straub, Maria Voronina, Brian Wheaton, Paul Willen and seminar participants at Harvard University for their careful feedback on this project. I gratefully acknowledge nancial support from the Samsung Scholarship Foundation. All errors are my own.
PRACTICAL TRAINING AND ITS IMPACTS ON EMPLOYABILITY AFTER GRADUATION

This paper is a case study on the influence of students working during their studies and its impacts on their employability after graduation. Data for this research were collected at a private business university in Prague, the Czech Republic. The aim of the paper is to identify approaches of business university graduates to employment during their study and to evaluate the role of students’ employment in their future career. A partial aim is to evaluate relations between student employment and future job position. The data were obtained through primary research: a questionnaire survey, two in-depth interviews and four focus groups. The results show that practical training during studies does affect applicability of study results, but graduates are not promoted immediately after their university graduation regardless of their gender. The only disadvantages mentioned regarded demands on time. In the qualitative research, graduates most often reported demands on family support, time, problem coping and necessity of such behaviour.
Under the Umbrella: The Dark Side of Military Experience in Financial Reporting

This study examines whether and how managerial military experience influences the quality of corporate financial reporting. Using the data of the Chinese A-share listed firms from 2006 to 2016, the results show that managerial military experience leads to poorer financial reporting quality. Specifically, military managers tend to use more earnings management, both accrual-based and real activities manipulation, than their counterparts without military experience, indicating that military managers are more risk-taking and less discreet in their financial reporting. Our results also indicate that firms with military managers are more susceptible to financial restatement and penalties for violation. Moreover, we find that the effect of managerial military experience on the quality of the firm’s financial reporting is more pronounced in state-owned enterprises (SOEs). However, there is no significant difference between the levels of regulatory penalties for the military managers of SOEs and non-SOEs. These findings indicate that the state property rights in emerging economies could amplify the negative effect of managerial military experience on the quality of financial reporting by sheltering firms from administrative penalties. In addition, we explore the restraining effect of internal control and corporate governance on military managers’ radical financial reporting features. These findings are conducive to obtaining a better understanding of the relationship between managerial traits and corporate decisions in emerging economies.
In the Spotlight: The Impact of Analyst Awards on Financial Markets * Click Here for the Latest Version

This paper studies how award designations bundled with media attention causally induces investor overreaction to stale information. We exploit a natural experiment in which financial analysts barely winning an influential award from a well-known financial magazine receive front-page coverage while those barely missing it do not. We find that, in the first two days after the award mentioning, the stocks with stale recommendations from barely winners see 0.66 percentage points higher return than those with recommendations from barely nonwinners, which is 1.3 times the average baseline return to recommendations. But this return fully reverses within 30 trading days. Evidence supports the idea that attention trading due to media mentions of award winners rather than the signal from winning the award drives the main result. In addition, brokerages assign awardees to larger and better teams, and these analysts issue more accurate and less biased earnings forecasts than others in the year after the award. Interestingly, this better performance is only among earnings forecasts for firms which have no underwriting relationship with the brokerages.
Monetary Policy and Sovereign Risk in Emerging Economies (Nk-Default)

This paper develops a New Keynesian model with sovereign default risk (NK-Default). We focus on the interaction between monetary policy, conducted according to an interest rate rule that targets inflation, and external defaultable debt issued by the government. Monetary policy and default risk interact since both affect domestic consumption, production, and inflation. We find that default risk amplifies monetary frictions and generates a tension for monetary policy, which increases the volatility of inflation and nominal rates. These monetary frictions in turn discipline sovereign borrowing, slowing down debt accumulation and lowering sovereign spreads. Our framework replicates the positive comovements of spreads with nominal domestic rates and inflation, a salient feature of emerging markets data, and can rationalize the experience of Brazil during the 2015 downturn, with high inflation, nominal rates, and spreads.
A Clash of Cultures: The Governance and Valuation Effects of Multiple Corporate Cultures

This study investigates the effect of multiple corporate cultures on a firm’s governance and valuation. Estimating two cultural distances: (1) between the CEO and the board and (2) between the CEO and stakeholders, we find both explain CEO turnover and firm value. Increased cultural distance is associated with greater CEO turnover, but also with higher firm value. We conclude that greater cultural distance between a CEO and the board results in less empathy for the CEO, but produces greater monitoring with consequently increased firm value. These results are robust to a variety of tests for selection bias and endogeneity. JEL Codes: G34
Long Term Neighborhood Effects of Religious Diversity∗

This paper investigates how religious exposure in childhood affects neighborhood choice later in life. Using a panel of individuals with reported religious beliefs, socioeconomic status and residential locations over twenty years, I estimate a residential sorting model where preference for neighborhood religious composition varies by the largest religious group in childhood neighborhood (defined as “religious background”) and current income. Housing services, air quality, green space and socioeconomic composition also affect neighborhood choice. Results suggest religious homophily is the strongest for low income individuals with Roman Catholic and non-Christian backgrounds in Glasgow, Scotland. Regardless of income, those with Protestant and secular backgrounds prefer living in secular neighborhoods while those with Catholic and other backgrounds prefer living in religious neighborhoods (for all religions). The heterogeneity in religious preferences contributes to inequality across religious backgrounds as reflected in average neighborhood income. Absence of such preference heterogeneity would lead to reduced segregation and a 3.8% increase in average neighborhood income for those with Catholic and other backgrounds at the lowest income quartile. This paper contributes to a growing literature on long term neighborhood effects and quantifies the cost of historical segregation on current urban structure. ∗I am grateful to my dissertation committee members, Christopher Timmins, Daniel Xu, Patrick Bayer, V. Joseph Hotz and Arnaud Maurel for their guidance and support. I thank Charles Becker, Yanyou Chen, Allan Collard-Wexler, Guanpeng Dong, Daniel Garrett, Xian Jiang, Jonathan Moreno, and Gwilym Pryce for helpful comments, and members of my Daily Writing Slacker Group for their support. This paper has benefited from seminar participants at Duke, Sheffield Methods Institute, University of Glasgow, and University of Liverpool. I gratefully acknowledge the Economic and Social Research Council (ESRC) who funded the Understanding Inequalities project through which this research was conducted (Grant Reference ES/P009301/1) and Center for the Study of Philanthropy and Voluntarism at Duke University for a Dissertation Fellowship. The help provided by staff of the Longitudinal Studies Centre Scotland (LSCS) is acknowledged. The LSCS is supported by the ESRC/JISC, the Scottish Funding Council, the Chief Scientist’s Office and the Scottish Government. The author alone is responsible for the interpretation of the data. Census output is Crown copyright and is reproduced with the permission of the Controller of HMSO and the Queen’s Printer for Scotland. †Ph.D. candidate, Duke University Department of Economics. Email: chuhang.yin@duke.edu
Identifying the effective taxonomies of airline green operations strategy

The purpose of this paper is to explore the effective taxonomies of airline green operations strategy. ,To this end, a sample of 23 airlines from five regions (North America, South America, Europe, Asia and the Middle East) was surveyed. The annual sustainability reports of the surveyed airlines for the period 2013‒2016 were retrieved from the Global Reporting Initiatives website. K-means clustering analysis was used to generate taxonomic clusters of airline green operations strategy. A special data analysis technique, called rank analysis, was also adopted to identify the significant green actions and develop indicative models. ,This study revealed that three effective taxonomies were adopted by airlines: a low-effect strategic pattern, a low-to-moderate effect strategic pattern and a high-effect strategic pattern. A different combination of green operation actions characterized each strategic pattern. ,The research contribution of taxonomies of green operations strategy has so far been limited, country focused and concentrated on the manufacturing sector. This study reported the taxonomies and performed an in-depth analysis of the categories of effective actions taken to promote green performance. Moreover, this study developed indicative models for the relationship between categories of action and green performance for each strategic pattern, an action that has seldom been reported by previous studies of green operations strategies for airlines.
Shareholder Investment Horizons and the Choice between Bank Debt and Public Debt

This paper investigates the impact of institutional shareholder investment horizons on a firm’s choice between bank debt and public bonds. We find that short-term institutional ownership of the borrowing firm has a negative effect on its use of bank debt financing. This finding provides evidence consistent with the monitoring avoidance incentives of short-term shareholders. In contrast, long-term institutional ownership has a positive impact on the firm’s reliance on bank debt financing. These effects are attenuated by higher managerial ownership and more motivated investors, and are exacerbated by higher information opacity. Our results are robust to potential endogeneity concerns, firm size effects, and alternative investment horizon measures. Investigating the effects of investment horizons on securitized and long-term debt corroborates our main findings. Shareholder Investment Horizons and the Choice between Bank Debt and Public Debt Abstract This paper investigates the impact of institutional shareholder investment horizons on a firm’s choice between bank debt and public bonds. We find that short-term institutional ownership of the borrowing firm has a negative effect on its use of bank debt financing. This finding provides evidence consistent with the monitoring avoidance incentives of short-term shareholders. In contrast, long-term institutional ownership has a positive impact on the firm’s reliance on bank debt financing. These effects are attenuated by higher managerial ownership and more motivated investors, and are exacerbated by higher information opacity. Our results are robust to potential endogeneity concerns, firm size effects, and alternative investment horizon measures. Investigating the effects of investment horizons on securitized and long-term debt corroborates our main findings.This paper investigates the impact of institutional shareholder investment horizons on a firm’s choice between bank debt and public bonds. We find that short-term institutional ownership of the borrowing firm has a negative effect on its use of bank debt financing. This finding provides evidence consistent with the monitoring avoidance incentives of short-term shareholders. In contrast, long-term institutional ownership has a positive impact on the firm’s reliance on bank debt financing. These effects are attenuated by higher managerial ownership and more motivated investors, and are exacerbated by higher information opacity. Our results are robust to potential endogeneity concerns, firm size effects, and alternative investment horizon measures. Investigating the effects of investment horizons on securitized and long-term debt corroborates our main findings.
MATHEMATICAL FORMULATION OF A KINETIC VERSION OF STEFAN PROBLEM FOR HETEROGENEOUS MELTING/CRYSTALLIZATION OF METALS

The widespread use in the past two decades of an ultrashort pulse (picosecond and femtosecond) laser action on a variety of materials to generate nanoparticles and nanostructures [1,2], the creation of metamaterials [3], by ablation in gases and liquids [4,5] cause increased interest in the rapid phase transitions of the 1st kind. Analysis of the processes caused by pulsed laser action leads to the consideration of a number of important problems of the fundamental plan, which at high heating rates are attributed features of homogeneous and heterogeneous melting/solidification mechanisms and evaporation and the associated limit overheating and overcooling of material. Understanding the melting/solidification processes is also of great interest for applied problems of photonics [6], micromachining [7], the creation of new materials [8, 9], optimization of superfast modes of laser micromachining of materials [10], and others. In spite of the fact that the processes of melting/crystallization were studied over one hundred years, beginning with the famous Stephen's formulation [11] theme is still widely studied and keenly debated [12]  [14]. Melting of the solid and liquid solidification are a widespread phenomena in nature. There are two mechanisms of melting/crystallization of metals: heterogeneous (or it is also called surface or front) and homogenous (volumetric). In the first case, in the framework of classical thermodynamics [15], the melting of solids and liquid solidification relate to the phase transformation of the first kind flowing at a certain (equilibrium) temperature Tm, which
Stock market cointegration in Europe

In this paper we try to uncover long-run dependency structures by testing for cointegration among six major European stock indices during the first eleven years and four months of the 21 century. We find strong support for one cointegrating vector, indicating that the national stock markets follow the same long-run growth path, and that no market is likely to have substantially greater or worse relative performance over time. This can be attributed to the wide-spread economic and financial integration of the markets, e.g. through the EU or EMU. Further, the cointegration relationship means that traditional risk diversification techniques based on covariance lose their effectiveness in the long run. We find the that U.K. is weakly exogeneous and will be the first market to be hit by events that do not affect all countries simultaneously, but that later spread to the others. In addition, we investigate short-run causal relationships, to determine which markets have a significant short-term effect on the others, and determine how the effects of different events will spread in the region.
Student's Perception About Integrated Teaching In An Undergraduate Medical Curriculum.

The objective of this study was to analyze the results of a survey on students regarding the integration of their institution’s health science curriculum. Methods: One hundred and twenty five (125) students of the 5th term of the undergraduate medical course were given a questionnaire on the integration sessions. The questionnaire with a five point Likert scale, with a minimum of one and a maximum of five rating, was administered in October 2009. The data from the questionnaire was compiled and analyzed by using the SPSS version 16. Results: One hundred and twenty two students out of the one hundred and twenty five answered the questionnaire 122/125 (97.6%). The reliability of the scale was 0.50 (Cronbachs alpha -0.5). 91.8% students agreed that integrated teaching helped in the appreciation and application of the basic science knowledge to health and disease. 82% agreed that integrated teaching improved the performance in clinics and university examinations. The responses were equally distributed in favour of traditional teaching (36%) and integrated teaching (30.3%), while 33.6% responses were of indecisisive. 51.7% of the students preferred the horizontal to vertical integrated teaching. Many positive aspects were listed by the students, such as “integrated teaching improves the understanding of the topics” and a few negative remarks such as “lengthy” were mentioned. The students suggested mind mapping, concept maps and small group discussions to improve the interaction.
The Cross-Section of Expected Housing Returns

This paper performs a large-scale empirical asset pricing analysis of the cross-section of residential real-estate returns. Using monthly housing returns for 9,831 different zip codes across 178 Metropolitan Statistical Areas (MSAs), we estimate, for each MSA, a multifactor model with systematic housing-market risk (U.S. and local MSA) and idiosyncratic zip codespecific housing risk. We find that U.S. and MSA housing risks are positively priced in 26% and 22% of the MSAs, respectively. The evidence that MSA-level housing-market risk is priced in roughly a fifth of all MSAs runs counter to the common belief that the U.S. housing market is locally segmented. We also find that idiosyncratic risk is positively priced only in 22% of the MSAs, suggesting that the under-diversification of households’ real estate portfolios is not widely priced. In the last part of the paper, we link MSA variation in the pricing of risk to MSA fundamentals. We find that illiquidity is important for the pricing of the U.S. housing-market risk, while homeownership increases the probability that MSA-level risk is positively priced. Idiosyncratic risk is more likely to be positively priced in MSAs with less undevelopable land and lower liquidity, indicating that under-diversification is more binding when households face fewer housing supply constraints and more illiquidity.