Miracle-dz/UniFAR-FTUs huggingface dataset:
Evaluating social impact bonds: questions, challenges, innovations, and possibilities in measuring outcomes in impact investing

Against a backdrop of economic turbulence and fiscal austerity, governments in the advanced economies are increasingly testing social impact bonds (SIBs) as a way of supplementing the public financing of social programs. SIBs are part of the emerging impact investing industry, where investors aim to achieve social or environmental objectives, as well as financial returns. As more SIBs move into execution, there is a need for independent evaluations of their outcomes and impacts that promote both accountability and learning, interrogate theories of change, and engage beneficiary stakeholders. Community development professionals should learn more about SIBs, explicate the relationships among individual, household, and community results, and support communities in holding SIB investors and sponsors to account for their declared intentions and outcome targets.
Comparative Regional Integration: Concept and Measurement

The decade since the formation of the European Economic Community (EEC) in 1957 has been marked by an impressive growth of theorizing about the causes of international regional integration in Europe and in other parts of the world. However, differences in approach to conceptualization and measurement of the dependent variable—integration—have led to two kinds of problems. First, it is difficult to relate the concepts of different authors to each other, and to a certain extent integration theorists have “talked past each other”. In other instances where theorists have indeed confronted each other, such as in the controversy over the current condition of the EEC (described below), differences in conceptualization have made the dispute unnecessarily difficult to resolve.
Prospective observational cohort study of time saved by prehospital thrombolysis for ST elevation myocardial infarction delivered by paramedics

Abstract Objectives To evaluate a system of prehospital thrombolysis, delivered by paramedics, in meeting the national service framework's targets for the management of acute myocardial infarction. Design Prospective observational cohort study comparing patients with suspected acute myocardial infarction considered for thrombolysis in the prehospital environment with patients treated in hospital. Setting The catchment area of a large teaching hospital, including urban and rural areas. Participants 201 patients presenting concurrently over a 12 month period who had changes to the electrocardiogram that were diagnostic of acute myocardial infarction or who received thrombolysis for suspected acute myocardial infarction. Main outcome measures Time from first medical contact to initiation of thrombolysis (call to needle time), number of patients given thrombolysis appropriately, and all cause mortality in hospital. Results The median call to needle time for patients treated before arriving in hospital (n=28) was 52 (95% confidence interval 41 to 62) minutes. Patients from similar rural areas who were treated in hospital (n=43) had a median time of 125 (104 to 140) minutes. This represents a median time saved of 73 minutes (P < 0.001). Sixty minutes after medical contact 64% of patients (18/28) treated before arrival in hospital had received thrombolysis; this compares with 4% of patients (2/43) in a cohort from similar areas. Median call to needle time for patients from urban areas (n=107) was 80 (78 to 93) minutes. Myocardial infarction was confirmed in 89% of patients (25/28) who had received prehospital thrombolysis; this compares with 92% (138/150) in the two groups of patients receiving thrombolysis in hospital. Conclusions Thrombolysis delivered by paramedics with support from the base hospital can meet the national targets for early thrombolysis. The system has been shown to work well and can be introduced without delay.
Empirical Evidence on the Aggregate Effects of Anticipated and Unanticipated U.S. Tax Policy Shocks

We provide empirical evidence on the dynamic effects of tax liability changes in the United States. We distinguish between surprise and anticipated tax changes using a timing-convention. We document that pre-announced but not yet implemented tax cuts give rise to contractions in output, investment and hours worked while real wages increase. In contrast, there are no significant anticipation effects on aggregate consumption. Implemented tax cuts, regardless of their timing, have expansionary and persistent effects on output, consumption, investment, hours worked and real wages. Results are shown to be very robust. We argue that tax shocks are empirically important impulses to the U.S. business cycle and that anticipation effects have been important during several business cycle episodes.
Student Engagement and Study Abroad

In this study the authors assessed student engagement during a short-term study-abroad program using the National Survey of Student Engagement (NSSE). Data were collected from a group of Canadian undergraduates spending six weeks in Mexico. Their program included a 10-day bus tour, three half-credit courses, and accommodations with local families. The authors administered the NSSE twice: once at the conclusion of the students’ current school year and six weeks later at the end of their study-abroad program. A comparison of responses from the two administrations of the NSSE indicates an advantage, though modest, for the study-abroad setting. Study abroad’s stature in higher education as a high-impact learning activity received moderate support from the data. The authors encourage administrators and researchers to use student engagement and the NSSE to refine study-abroad programs.
Error correction modelling and dynamic specifications as a conduit to outperforming the random walk in exchange rate forecasting

The proposition that dynamic exchange rate models can outperform the random walk in out-of-sample forecasting, in the sense that they produce lower mean square errors, is examined and disputed. By using several dynamic versions of three macroeconomic exchange rate models, it is demonstrated that dynamic specifications outperform the corresponding static models but improvement in the forecasting power may not be sufficient for the dynamic models to perform better than the random walk. The results are explained by suggesting that any dynamic specification or transformation of the static model leads to the introduction of a lagged dependent variable, which in effect is a random walk component. The analysis leads to the conclusion that it is implausible to aim at beating the random walk by augmenting a static model with a random walk component.
Regime Shifts in the Fish Meal/Soybean Meal Price Ratio

Aquaculture growth has led to worries about overfishing and reduction in wild-caught food fish supply because of increased demand for fish meal. As such, the price ratio between fish meal and soybean meal has received much attention as an indicator of changing market conditions. In recent years, the price ratio between these two commodities has become more volatile. Several authors have suggested that the traditional relationship between fish meal and soybean meal has broken down and that this is evidence of increased demand pressure on fish meal. In this article, we investigate the hypothesis that there are two regimes for the relative price between fish meal and soybean meal. The empirical results support this hypothesis, with the low-price regime representing the traditional stable relative price. The continued linkages between the fish meal and the soybean meal markets indicate that aquaculture is reducing its dependency on marine proteins in favour of vegetable proteins.
The philanthropic state: market–state hybrids in the philanthrocapitalist turn

Over the past decade a new form of philanthropy has emerged, termed ‘philanthrocapitalism’. Champions of philanthrocapitalism suggest that private giving can fill the void left by diminished government spending on social and development programmes. Critics suggest that philanthropy is no substitute for strong governmental support for social welfare. Both arguments perpetuate a dichotomy between the public and the private, implying that philanthrocapitalism operates in a vacuum largely divorced from governmental interventions. In this article I challenge that assumption, exploring how new philanthropic initiatives have compelled increased financial support from governments toward the private sector. Drawing on three cases – advanced market commitments (amcs) in drug development; impact investing; and direct philanthropic and governmental grants to corporate entities – I illustrate the ways that governments remain one of the most powerful – if not the most powerful – philanthropic actors in the philanthrocapitalist turn.
Comparative Analysis of the Interactions between the FLEGT and REDD+ Regimes in Cameroon and the Republic of Congo

SUMMARY This paper aims to examine and compare the interactions between policy to combat illegal logging (FLEGT VPA) and avoiding deforestation and forest degradation (REDD+) in Cameroon and the Republic of the Congo by applying an institutional interaction approach. Several interactions have occurred between the two regimes, and more interactions are expected. In both countries, the process for developing the VPA has served as a policy model for designing elements of REDD+. Overlaps in issue-areas and membership triggered these interactions. Implementation of the VPA is also expected to result in positive behavioural change among forest stakeholders that could in turn have positive impacts on REDD+. There are also disruptive interactions, such as the slow pace of VPA implementation affecting REDD+ progress in both countries. Furthermore, there is substantial similarity in terms of the nature and quality of interactions between Cameroon and Congo. Building understanding and exchange of information among stakeholders and request for assistance and jurisdictional delimitation could enhance synergies and mitigate disruptive interactions between the two regimes in both countries.
Securities market weightings of complementary earnings predictors: Biased expectations or omitted risk measures?

Abstract Previous studies report delayed securities returns associated with analysts' earnings forecasts, prior earnings, and prior securities returns. Although this evidence typically has been attributed to biases in investors' expectations of earnings, omitted risk factors constitute an equally plausible potential explanation of the delayed returns. For this reason, our paper evaluates whether the earnings expectations implicit in securities prices weight the information in analysts' forecasts, prior-year earnings, and prior securities returns in a manner consistent with their historical relations to earnings. We find that securities prices reflect a significant over-reliance on historical earnings and a substantial under-reliance on both analysts' forecasts and prior-year securities returns. Composite earnings forecasts that are based on the historical relations of realised earnings to analysts' forecasts, prior year earnings and prior year returns have significantly lower forecast errors than do composite earnings forecasts that are based upon inferred investor weightings of these same information variables. Moreover, significant size-adjusted returns are achieved with hedge portfolios based upon errors in investor earnings expectations that are predicted from differences in the historical and investor weights of these complementary information variables. A disproportionate part of these delayed returns occur in earnings announcement months. Overall, these findings lend credibility to the interpretation that biases in investors' earnings expectations, rather than omitted risk factors, underlie at least a portion of the delayed securities returns.
A Model of Tourist Information Search Behavior

This research empirically examines, for the first time, the correlates of tourist information search behavior. A model is specified and tested in which tourist information search strategies are related to search contingencies, individual (tourist) characteristics, and behavioral search outcomes. Using survey data from a large sample of leisure travelers, tests of association showed substantial support for hypothesized relationships. Tourist information search strategies were found to be the result of a dynamic process in which travelers used various types and amounts of information sources to respond to internal and external contingencies in vacation planning. A discussion of the key findings of the model provides a rich source of managerial implications.
Cytoskeletal Assemblies of Mammalian Spermatozoa a

It is becoming increasingly evident that the different domains of the mammalian spermatozoa possess distinct cytoskeletal assemblies. In this paper we have discussed three assemblies, found in the acrosomal, postacrosomal, and midpiece segment, respectively. Each has a distinct substructure and associates with specific sperm-membrane systems. Their protein compositions are currently unidentified, and they may be comprised of sperm-specific polypeptides. Analysis of their formation and fate during sperm-egg interaction should provide valuable insight into their role in the development of cell polarity and in the membrane-mediated steps of fertilization.
China's Emerging Neoliberal Urbanism: Perspectives from Urban Redevelopment

China's urbanization is undergoing profound neoliberal shifts, within which urban redevelopment has emerged in the forefront of neoliberalization. This study aims to understand China's emerging neoliberal urbanism by examining the association between urban redevelopment and neoliberalism. Rather than a deliberate design, neoliberalization in China is a response to multiple difficulties/crises and the desire for rapid development. The neoliberalization process is full of controversies and inconsistencies, which involve conflicts between neoliberal practices and social resistance, and tensions between central and local states. Nevertheless, China's neoliberal urbanism has a responsive and resilient system to cope with the contradictions and imbalances inherent in neoliberalism. Meanwhile, neoliberal urbanism is more tangible at the sub-national scale, since the local state can most effectively assist neoliberal experiments and manage crises. This study not only contributes to the understanding of China's neoliberal urbanism, but also has multiple implications for neoliberalism studies in general. First, in examining the interrelationship between the state and market, it is the actual effect of legitimizing and facilitating market operation rather than the presence (or absence) of the state that matters. Second, a new nexus of governance has formed in the neoliberalization process. Not only the nation state but also the local state is of great significance in assisting and managing neoliberal projects. Third, this study further validates the importance and necessity of scrutinizing neoliberal practices, in particular the controversies and inconsistencies within the neoliberalization process.
Unbundling the construct of firm‐level international competitiveness

Purpose – The purpose of this paper is to develop a framework for positioning the research contributions on the analysis of firm‐level international competitiveness and addressing the key issues on this topic.Design/methodology/approach – Linking the concepts of internationalization, performance, and firm‐level competitiveness, the paper proposes a framework for identifying the different dimensions of international competitiveness. Literature on each dimension is reviewed and the linkages between them are discussed.Findings – The paper unbundles the construct of international competitiveness into three dimensions: “ex ante” competitiveness, relating to firm‐ and location‐specific advantages as drivers of competitiveness; firm internationalization profile, resulting from the qualitative and quantitative characteristics of a firm's presence abroad; “ex post” competitiveness, relating to market, financial and nonfinancial performance of a firm in foreign markets.Originality/value – Although the analysis of i.
THE INTER‐RELATIONSHIP BETWEEN aPco2 AND BLOOD PRESSURE IN THE REGULATION OF BLOOD FLOW THROUGH THE CEREBRAL CORTEX

The importance of the arterial carbon dioxide tension and the artcrial blood pressure in the regulation of cerebral blood flow is well recognised. However, there is a need to determine quantitatively the flow response over a wide range of arterial carbon dioxide tensions and systemic blood pressures, and in particular to determine the interplay of these two factors in the control of the cerebral circulation. This paper reports the effect of varying the systemic blood yressures in normocapnic and hypercapnic dogs and of varying the arterial carbon dioxide tensions in normotensive and hypotensive dogs on thc Mood-flow through the cerebral cortex.
Risk factors for Sjögren's syndrome: a case-control study.

OBJECTIVE The aim of this study was to investigate potential risk factors for Sjögren's syndrome (SS) by means of a multi-centre case-control study, focusing in particular on familial and environmental risk factors. 140 female SS patients and 109 female controls with orthopaedic problems were consecutively enrolled in seven university hospitals in Italy. METHODS Information regarding the patient's lifestyle, her medical, menstrual and pregnancy history, and any family history of autoimmune diseases (AD) was obtained through a detailed structured questionnaire. The odds ratio (OR) and 95% confidence interval (95%CI) were calculated using unconditional logistic regression, adjusting for age and family size. The probability of first-degree relatives developing an autoimmune disease was also investigated. RESULTS A positive family history of AD was significantly associated with SS. Subjects with a first-degree relative (FDR) with AD showed a seven-fold increase in the risk for SS compared to controls (OR=7.4, 95%CI 2.8-20.1); the strength of this association increased with the number of relatives affected. Similarly, the FDR of SS patients had a higher risk of AD in comparison to subjects without FDR affected by SS. Women with one or more pregnancies had an increased risk of SS (OR=2.1, 95%CI 1.0-4.3). CONCLUSION This study suggests that a family history of AD is associated with SS.
The Impact of Accounting Conservatism on the Compensation Relevance of UK Earnings

Abstract It has long been established that because of accounting conservatism, the contemporaneous correlation between returns and earnings is lower (higher) for good (bad) news firm-years. Meanwhile, prior analytical agency work suggests that the compensation role of accounting earnings is potentially greater (for tasks such as noise filtering and incentive balancing) when the contemporaneous correlation between earnings and returns is lower. Hence, since accounting conservatism implies that earnings have a lower correlation with returns in good news firm-years, the present paper hypothesises that UK CEO cash compensation exhibits a stronger (weaker) sensitivity to accounting earnings in good (bad) news firm-years. The empirical findings offer substantial support for this hypothesis and are robust to alternative estimation methodologies. In addition, the results appear not to be attributable to the well-established impact of earnings persistence on the compensation–earnings association. Overall, the findings are consistent with the notion that UK compensation committees appear to take cognisance of the impact of accounting conservatism when awarding earnings-based compensation. In addition, the present work offers additional insights into the nature of the interaction between the contracting and valuation roles of accounting numbers.
Pricing and Financial Resources: An Analysis of the Disk Drive Industry, 1980-88

This paper empirically examines the 'long purse' hypothesis, formalized by Patrick Bolton and David Scharfstein (1990), that incumbents may drive out entrants through aggressive pricing. The author analyzes the pricing of 733 disk drives between 1980 and 1988. Drives that are adjacent to those manufactured by thinly capitalized undiversified rivals are priced lower than other drives during the later years in the sample, when little equity financing was available to these firms. The results are robust to controls for alternative hypotheses and to other specifications of the hedonic regression. Copyright 1995 by MIT Press.
Do Artificial Neural Networks Provide Better Forecasts? Evidence from Latin American Stock Indexes

ABSTRACT Forecasting is a key activity for academics and investors in the fields of finance and economics. This paper explores the usefulness of the non-linear artificial neural network (ANN) for forecasting Latin American stock indexes. Our goal is to estimate and compare the forecast accuracy of the ANN with three traditional models: random walk, ARMA, and GARCH. Our results provide strong support for the ANN as a potentially useful device for predicting Latin American stock indexes. ANN forecasts are more accurate than those of more traditional methods, and the results are robust using the Diebold and Mariano test and encompassing regressions. RESUMEN. Trazar previsiones es, ciertamente, una de las actividades claves de los académicos e inversores en el campo de las finanzas y la economía. Este estudio explora la utilidad de una red artificial neural no lineal (ANN) para pronosticar los índices bursátiles latinoamericanos. Nuestra meta consiste en estimar y comparar la precisión de la previsión de una ANN con tres modelos tradicionales: el paso aleatorio, ARMA y GARCH. Nuestros resultados suministran fuerte apoyo a las ANN como un dispositivo potencialmente útil para predecir los índices bursátiles en Latinoamérica. Las previsiones ANN son más precisas que aquellas obtenidas con los métodos más tradicionales, y los resultados obtenidos utilizando las pruebas Diebold y Mariano y respectivas regresiones son más robustas. RESUMO. A previsão é uma atividade fundamental para os acadêmicos e investidores no campo da economia e das finanças. Este estudo investiga a utilidade da Rede Neural Artificial (ANN) não-linear, para prever os índices das ações na América Latina. O nosso objetivo é avaliar e comparar a precisão do prognóstico da ANN com três modelos tradicionais: a movimentação aleatória, ARMA e GARCH. Os resultados obtidos reforçam a ANN como um dispositivo potencialmente útil na previsão dos índices de ações da América Latina. As previsões da ANN são mais precisas do que as previsões feitas por métodos tradicionais, e os resultados são significativos, utilizando o teste e as regressões Diebold e Mariano envolvidas.