Miracle-dz/UniFAR-FTUs huggingface dataset:
The application of fundamental indexing to the South African equity market for historical data dating back to 1996

Measuring the performance of any financial portfolio is only relevant if compared relative to another similar portfolio. Over the years the norm in the industry has been to use market capitalisation indices as benchmarks to measure performance. Market capitalisation indices, such as the FTSE/JSE ALSI, create a natural return drag because of the overweighting of overvalued stocks and the underweighting of undervalued stocks. It is this return drag that led to the creation of the Fundamental Indexing concept by Research Affiliates in 2005. Fundamental Indexing weights stocks based on their economic footprint in the market rather than their market capitalisation. The Fundamental Indexing approach uses four metrics, namely sales, book values, dividends and cash flows to calculate this economic footprint. The Fundamental Index is referred to as the RAFI (Research Affiliates Fundamental Index) Index The Fundamental Index concept delivered very good results when applied to the South African stock market. The South African RAFI Composite Index outperformed the FTSE/JSE All Share Index by 5.55% p.a. compounded annually during the period 1995 to 2006. This return was achieved with a similar risk profile as the FTSE/JSE All Share Index. This index also had similar turnover rates relative to the FTSE/JSE All Share Index. The South African RAFI Composite Index also outperformed the FTSE/JSE All Share Index by 5.48% p.a. compounded during the measurement period when investment income is included. The Fundamental Index outperformance clearly disproves the efficient market hypothesis. According to modern portfolio theory it is impossible to earn abnormal profits in excess of a market capitalisation index. The success of Fundamental Indices proves that market capitalisation indices are not optimal and deliver sub-optimal returns. Specifically, it can be seen that the South African market is inefficient and that the FTSE/JSE All Share Index is not the best tool for measuring the performance of the financial markets in South Africa.
Measuring Physical Activity and Sedentary Behavior in Youth with Type 2 Diabetes.

BACKGROUND Lifestyle interventions that encourage increasing physical activity (PA) and losing weight are critical for overweight and obese youth with comorbid conditions. Assessing PA within such lifestyle intervention efforts requires measurement tool(s) that are both accurate and appropriate for these youth. This research compares PA levels and sedentary behavior in an ethnically diverse cohort of overweight/obese youth with type 2 diabetes using both accelerometry and a questionnaire previously validated in the general youth population. METHODS Spearman's correlations were used to compare time spent sedentary and in different PA intensities between a questionnaire, the three-day PA recall (3DPAR), and an objective PA measure, the ActiGraph accelerometer, in 236 overweight/obese youth with diabetes. RESULTS Spearman correlations between 3DPAR and accelerometer results for total PA were small and not significant (rho = 0.11, p > 0.05 for males and females). Correlations for specific PA intensities (moderate/vigorous and light) were also small and not significant. Sedentary time between instruments was significant, but weakly correlated in females (rho = 0.19, p < 0.05), but not in males (rho = 0.07, p = 0.48). CONCLUSIONS Subjective PA measures validated in the general youth population may not be the best method for differentiating levels of movement in overweight/obese youth with type 2 diabetes, who spend most of their time in light-intensity activity and sedentary pursuits with little or no time spent in moderate/vigorous-intensity activities. Objective measures such as accelerometers that can capture the lower end of the movement scale are likely the more appropriate measures under these conditions.
Colonization with penicillin-nonsusceptible Streptococcus pneumoniae in urban and rural child-care centers.

OBJECTIVES To determine the prevalence of penicillin-nonsusceptible Streptococcus pneumoniae (NS-SP) at 12 child-care centers (CCC) in urban and rural Nebraska and to evaluate the genetic diversity of pneumococcal strains present in the CCC environment. METHODS Nasopharyngeal cultures for S. pneumoniae were obtained from children 2 to 24 months old. Capsular serotyping, pulsed field gel electrophoresis (PFGE) and microbroth dilution MICs were performed for all S. pneumoniae. Antibiotic exposure was also evaluated as a potential risk factor for colonization with NS-SP. RESULTS Nasopharyngeal colonization with S. pneumoniae was present in 121 (56%) of 215 children. The MICs of penicillin were 0.12 to 1.0 microgram/ml for 57 (47%) and > 1.0 microgram/ml for 10 (8%) isolates. Clindamycin MICs of > 0.5 microgram/ml were found in 6 isolates (5%). MICs of ceftriaxone were 0.5 microgram/ml in 28% of S. pneumoniae and 1.0 microgram/ml in 7%. PFGE and capsular serotyping demonstrated multiple strains that were penicillin-nonsusceptible in both the urban and rural CCC. PFGE and capsular serotype defined shared strains within each CCC, but some PFGE "types" could be found in multiple serotypes. Antibiotic exposure during the 2 months before nasopharyngeal culture was not a statistically significant risk factor for nasopharyngeal colonization with NS-SP. CONCLUSIONS NS-SP are highly prevalent in urban and rural Nebraska. PFGE similarities between serotypes may reflect "serotype switching" but may also reflect genetic similarity between S. pneumoniae strains.
External aid inflows and the real exchange rate in Ghana

This paper develops an empirical model for Ghana's real exchange rate with special focus on foreign aid. The novelty of this study is the interfacing of exports with a policy environment, using aid as proxy, to see how it affects export performance. The paper finds that although aid dependence is quite high, aid inflows lead to depreciations in the real exchange rate. Aid inflows have also had a positive impact on export performance. The paper concludes that for external aid to be an effective investment, policy management needs to focus on ensuring the prevalence of sound macroeconomic fundamentals, among others. This paper, in broad terms, seeks to develop an empirical model for the real exchange rate in Ghana with special focus on the role of foreign aid. The paper then attempts to link this with an export performance model in order to identify policy implications and management issues. Generally, it is hypothesized, first, that external aid inflows to Ghana result in real exchange rate appreciations, and second, that exports respond positively to a good policy environment.
On the reproduction of the musical economy after the Internet

The focus of this article is a crisis of reproduction that beset the contemporary popular music industry from the late 1990s onwards. In the early 21st century the music industry began to suffer from declining sales, negative growth and financial losses. Explanations internal to the music industry identified the cause of the crisis as the rise of Internet piracy, although the emergence of software formats, such as MP3, and Internet distribution systems is more accurately described as a ‘tipping point’ that brought into focus a set of deeper structural problems for the industry related to changing forms of popular music consumption. Drawing on research undertaken by the authors within US music companies, the article examines responses to the crisis in the form of three distinctive business models that represent different strategies in the face of the contemporary crisis of the musical economy, an arena within which a range of experiments are being undertaken in an effort to develop new ways of generating income. Nevertheless, there is reluctance within the industry to embrace the more radical organizational changes that might allow it to fully accommodate the impact of software formats and Internet distribution systems. A key reason for this, we argue, is the stakes that the leaders of the major record companies have in the preservation of the current social order of the musical economy.
Towards a New Monetary Paradigm: A Quantity Theorem of Disaggregated Credit, with Evidence from Japan

During the course of the 1980s three major 'anomalies' were observed in a number of countries, including in Japan, which threw doubt on the traditional macroeconomic models: 1. The apparent velocity decline in the quantity equation and the resulting instability of the money demand function; 2. unusually fast rises in asset prices that often came to be referred to as speculative bubbles and which could not be explained by standard asset pricing models; and 3. capital exports from Japan, which reached historic proportions in the mid-1980s, but collapsed in the early 1990s, and which could not be explained by traditional models. In this article I present a simple model that encompasses the standard theory as a special case and which simultaneously can account for the above three 'anomalies'. It is based on a 'quantity equation' of credit creation, which is disaggregated into credit for 'financial circulation' and credit for the 'real circulation'. It is shown that excessive credit creation for financial circulation is responsible for all three 'anomalies'. The model is supported in empirical tests using the general to specific econometric methodology and using Japanese data. The article concludes with a discussion of the implications of these findings for monetary theory, future research and economic policy.
Trade, Remittances and Economic Growth in Nigeria: Any Causal Relationship?

type="main" xml:lang="en"> This study examined the causal relationships among GDP, export, imports and remittances. The study, among others, investigated the validity of export-led and remittances-led growth hypotheses. Specifically, the study investigated the causal relationship between remittances and GDP, remittances and export and remittances and imports. Employing a VECM Granger Causality for data spanning between 1980 and 2012, imports and remittances significantly Granger-caused GDP in the short run. Also, there were reverse causalities running from GDP to export and imports. This implies that export-led growth hypothesis holds in Nigeria. Furthermore, there was a unidirectional causation running from remittances to GDP, implying that remittances matter for economic growth. But since the effect was more from the demand side, it could lead to inflationary pressure. The policy recommendation is that the authorities should intensify efforts on the export base of the economy. The monetary authorities should implement necessary policy to cool the pressure arising from conspicuous spending of remittances.
Bacterial polyhydroxyalkanoates

Polyhydroxyalkanoates (PHAs) are polyesters of hydroxyalkanoates (HAs) synthesized by numerous bacteria as intracellular carbon and energy storage compounds and accumulated as granules in the cytoplasm of cells. More than 80 HAs have been detected as constituents of PHAs, which allows these thermoplastic materials to have various mechanical properties resembling hard crystalline polymer or elastic rubber depending on the incorporated monomer units. Even though PHAs have been recognized as good candidates for biodegradable plastics, their high price compared with conventional plastics has limited their use in a wide range of applications. A number of bacteria including Alcaligenes eutrophus, Alcaligenes latus, Azotobacter vinelandii, methylotrophs, pseudomonads, and recombinant Escherichia coli have been employed for the production of PHAs, and the productivity of greater than 2 g PHA/L/h has been achieved. Recent advances in understanding metabolism, molecular biology, and genetics of the PHA‐synthesizing bacteria and cloning of more than 20 different PHA biosynthesis genes allowed construction of various recombinant strains that were able to synthesize polyesters having different monomer units and/or to accumulate much more polymers. Also, genetically engineered plants harboring the bacterial PHA biosynthesis genes are being developed for the economical production of PHAs. Improvements in fermentation/separation technology and the development of bacterial strains or plants that more efficiently synthesize PHAs will bring the costs down to make PHAs competitive with the conventional plastics. © 1996 John Wiley & Sons, Inc.
Sustainability Education and Teacher Education: Finding a Natural Habitat?

Abstract Sustainability education competes for curricular space, both in schools and in teacher education. Opportunities and barriers for the inclusion of sustainability education in an Australian university primary teacher education program are examined in this article. The study focused on the roles, practices and perceptions of teacher educators in promoting sustainability education. Three focus groups were conducted with members of faculty staff from each of the K–6 Key Learning Areas to gather data, which were analysed according to three frameworks: espoused/aspirational and actual practices of staff members; barriers to and affordances for teaching sustainability education; and the nature of initiatives, in terms of teaching/learning activities, assessment tasks, and resources. Beyond the Social Sciences, and Science and Technology, we found that inclusion of sustainability education is somewhat sporadic. The article proposes some ways forward to promote and abet sustainability education in a tertiary context.
Association Between Asthma Symptoms and Obesity in Preschool (4-5 year old) Children

Objective. There have been many publications looking at the association between asthma and obesity in school aged children and adolescents. There have been few studies looking at the association in preschool children. Methods. Questionnaire data on 1509 4- to 5-year-old children were collected in 2006 from the state of South Australia, Australia. The prevalence of asthma symptoms, allergic rhinitis and eczema was ascertained using the International Study of Asthma and Allergy in Childhood (ISAAC) questionnaire. Body mass index was calculated from height and weight data and prevalence of obesity was defined using the International Obesity Task Force (IOTF) definitions. Results. The prevalence of wheeze in the last 12 months in the preschool population was 23.7%. In the cohort, 199 (13.7%) children were classified as overweight and 83 (5.7%) children were classified as obese. A significant relationship was identified between “wheeze in the last 12 months” (p <.01), “wheeze ever” (p <.001) and “asthma ever” (p <.001) with the trend towards obesity. The relationship was significant for both male and female sex with the exception of “wheeze in the last 12 months” in obese females. (p = 0.09). Conclusion. There is an association between asthma symptoms and obesity in preschool children. The relationship is evident for both male and female sex.
Practice Parameter: Treatment of Parkinson disease with motor fluctuations and dyskinesia (an evidence-based review): Report of the Quality Standards Subcommittee of the American Academy of Neurology

Objective:To make evidence-based treatment recommendations for the medical and surgical treatment of patients with Parkinson disease (PD) with levodopa-induced motor fluctuations and dyskinesia. To that end, five questions were addressed. 1. Which medications reduce off time? 2. What is the relative efficacy of medications in reducing off time? 3. Which medications reduce dyskinesia? 4. Does deep brain stimulation (DBS) of the subthalamic nucleus (STN), globus pallidus interna (GPi), or ventral intermediate (VIM) nucleus of the thalamus reduce off time, dyskinesia, and antiparkinsonian medication usage and improve motor function? 5. Which factors predict improvement after DBS? Methods:A 10-member committee including movement disorder specialists and general neurologists evaluated the available evidence based on a structured literature review including MEDLINE, EMBASE, and Ovid databases from 1965 through June 2004. Results, Conclusions, and Recommendations:1. Entacapone and rasagiline should be offered to reduce off time (Level A). Pergolide, pramipexole, ropinirole, and tolcapone should be considered to reduce off time (Level B). Apomorphine, cabergoline, and selegiline may be considered to reduce off time (Level C). 2. The available evidence does not establish superiority of one medicine over another in reducing off time (Level B). Sustained release carbidopa/levodopa and bromocriptine may be disregarded to reduce off time (Level C). 3. Amantadine may be considered to reduce dyskinesia (Level C). 4. Deep brain stimulation of the STN may be considered to improve motor function and reduce off time, dyskinesia, and medication usage (Level C). There is insufficient evidence to support or refute the efficacy of DBS of the GPi or VIM nucleus of the thalamus in reducing off time, dyskinesia, or medication usage, or to improve motor function. 5. Preoperative response to levodopa predicts better outcome after DBS of the STN (Level B).
Ambiguity in Partnerships

The consequences of ambiguity for partnerships are addressed. Partnerships with symmetric linear production functions are analysed in a Choquet Expected Utility (CEU)-framework. Nash equilibrium in pure strategies is extended to CEU-games. A class of sharing rules are proposed that make constructive use of strategic ambiguity in partnerships. Results on "ex ante" efficiency and "ex post" efficiency of the outcomes are presented. Copyright 2004 Royal Economic Society.
Horses and Rabbits? Trade-Off Theory and Optimal Capital Structure

Abstract This paper examines optimal capital structure choice using a dynamic capital structure model that is calibrated to reflect actual firm characteristics. The model uses contingent claim methods to value interest tax shields, allows for reorganization in bankruptcy, and maintains a long-run target debt to total capital ratio by refinancing maturing debt. Using this model, we calculate optimal capital structures in a realistic representation of the traditional trade-off model. In contrast to previous research, the calculated optimal capital structures do not imply that firms tend to use too little leverage in practice. We also estimate the costs borne by a firm whose capital structure deviates from its optimal target debt to total capital ratio. The costs of moderate deviations are relatively small, suggesting that a policy of adjusting leverage infrequently is likely to be reasonable for many firms.
Implementing PC Technology with Organizational Change: Some Obstruct Potential of Computers in Courses

Diffusion of innovation theorists subdivide the innovation process in organizations into two stages-initiation and implementation. The initiation stage, which includes the decision by organization members to adopt an innovation, is characterized by information-seeking, problem-solving, and decision-making. The implementation stage is where the actual work of changing the organization and putting the innovation to work takes place. Although few mass communication educators may argue against the adoption of the personal computer as an instructional technology, significant barriers exist that can inhibit its successful implementation. There are several important questions worth considering. For example: Have all faculty members in the unit adopted the technology, or are there some who resist it? Have some faculty members who adopted PCs later given up on the technology and returned to their former instructional methods? Are all courses that could most effectively be taught in a computerized lab currently taught there? Is there a steady rate of progress in obtaining new hardware and software? Is the unit falling behind others in the academic and professional areas? Is there a training program andlor released time for faculty to learn how to use the technology? The answers to these questions are important because they deal not just with whether the PC has been adopted in a mass communication unit but also with the success of its implementation.
Do Convertible Bond Issuers Cater to Investor Demand?

We examine the impact of fluctuations in investor demand for convertible securities on convertible bond issue volumes, pricing, and design. We find evidence of a positive impact of investor demand proxies on convertible bond issue volumes. We also document significantly lower convertible bond underpricing in periods with higher investor demand. The results hold in a variety of specifications, and are robust to controlling for firm-specific and macroeconomic financing cost proxies. However, we obtain only limited evidence that issuers adjust the design of their convertible bond offerings in response to investor demand.
Bacterial Biofilm Infection Detected in Breast Implant–Associated Anaplastic Large-Cell Lymphoma

Background: A recent association between breast implants and the development of anaplastic large-cell lymphoma (ALCL) has been observed. The purpose of this study was to identify whether bacterial biofilm is present in breast implant–associated ALCL and, if so, to compare the bacterial microbiome to nontumor capsule samples from breast implants with contracture. Methods: Twenty-six breast implant–associated ALCL samples were analyzed for the presence of biofilm by real-time quantitative polymerase chain reaction, next-generation sequencing, fluorescent in situ hybridization, and scanning electron microscopy, and compared to 62 nontumor capsule specimens. Results: Both the breast implant–associated ALCL and nontumor capsule samples yielded high mean numbers of bacteria (breast implant–associated ALCL, 4.7 × 106 cells/mg of tissue; capsule, 4.9 × 106 cells/mg of tissue). Analysis of the microbiome in breast implant–associated ALCL specimens showed significant differences with species identified in nontumor capsule specimens. There was a significantly greater proportion of Ralstonia spp. present in ALCL specimens compared with nontumor capsule specimens (p < 0.05). In contrast, significantly more Staphylococcus spp. were found associated with nontumor capsule specimens compared with breast implant–associated ALCL specimens (p < 0.001). Bacterial biofilm was visualized both on scanning electron microscopy and fluorescent in situ hybridization. Conclusions: This novel finding of bacterial biofilm and a distinct microbiome in breast implant–associated ALCL samples points to a possible infectious contributing cause. Breast implants are widely used in both reconstructive and aesthetic surgery, and strategies to reduce their contamination should be more widely studied and practiced. CLINICAL QUESTION/LEVEL OF EVIDENCE: Risk, V.