Miracle-dz/UniFAR-FTUs huggingface dataset:
Empirical Analysis of Affine vs. Non-Affine Variance Specifications in Jump-Diffusion Models for Equity Indices

How to model the variance process driving stock returns is a major research questions in finance. The specification of a variance model has implications for, e.g., risk management decisions, portfolio allocation or derivative pricing. This paper analyzes several crucial questions for setting up a variance model. (i) Are jumps an important model ingredient even when using a non-affine specification? (ii) How do affine specifications perform when compared to non-affine models. (iii) How should non-linearities be modeled? We find that, first, jump models clearly outperform pure stochastic volatility models. Second, non-affine specifications outperform affine models, even after including jumps. And finally, we find that the polynomial specification of the drift term, that has also been used in short rate models, is the best non-affine model under consideration.
Relationships between Advertising Effectiveness, Customer Perceived Value and Customer Loyalty: The Case of Commercial Bank of Ethiopia

The banking industry is undertaking extensive promotional activities to attain customers’ preference. The competition in Ethiopian banks is paramount and commercial banks in the country surpassed eighteen from five banks before sixteen years. Most banks engage in promotional activities without assurance of developing long-term relationships. The purpose of his study is to analyze the relationship between advertising effectiveness, customer perceived value and customer loyalty in the Ethiopian banking sector, particularly in the commercial bank of Ethiopia. The study was conducted at the five branches of the bank located in Bahir Dar city. The quantitative research approach was implemented and the study is explanatory research and the researcher used both primary and secondary sources of data. The sample consists of 400 respondents’ selected based on convenience sampling procedure. The questionnaire was distributed to selected branches customers. The result implies that there is a positive and significant relationship between advertising effectiveness and customer loyalty. Customer perceived value partially mediate with the relationship between advertising effectiveness and customer loyalty. The finding indicated that effective advertising contributed to developing loyal customers. To improve loyalty the Bank should work on performance marketing strategies that improve the effectiveness of advertising.
Regulating short‐term rental housing: Evidence from New Orleans

This study examines the effects of regulations targeting Airbnb and other short-termrental (STR) suppliers in the urban center of New Orleans. I show that although the new ordinances reduced participation in the STR market as intended, STR usage actually increased in the neighborhoods adjacent to areas the most affected by the regulations.I subsequently show that the new regulations depressed property values in the neighborhoods facing the tightest regulations by approximately 30%, implying that homeowners factor into their housing purchasing decisions the option to participate in the STR market.
Firm Competitiveness: An Examination of the Role of Corporate Governance in Defining Cost of Capital

This paper discusses the influence of Corporate Governance (CG) on Cost of Capital (CoC). The study revolves on the hypothesis that optimum capital structure at minimum cost is also an agenda item of CG. Thus this study explores the influence of CG on overall cost of capital as well as at its components level. The main goal is to prove that with improvement in CG performance, leads to reduction in information asymmetry among principal and agents, enabling agency cost to decline resulting in resetting guidance for required returns for equity and debt to a lower level. Main attention was paid to nature of correlation and OLS based econometric modelling of WACC to identify the lead indicators CG should influence to create an impact. This topic was chosen on the assumption that CG has a role to play in enabling financial competitiveness for the firm to fuel its ambitious growth path. The major findings of the paper are, there exist no statistically significant differences existing among the means for CoC among the CG categories, and with rise in CG, and required return on equity and required return on debt are declining by the direction of correlation. However, in CGPI category 1, study finds required return on debt rising as a possible outcome of corporate strategies in those companies. The above findings suggest that the implications on the CoC on the whole is an outcome of the strategy implementation which is a byproduct of CG performance. Overall, study concludes that there is a reduction in CoC with rise in CG performance.
Climate warming and ectotherm body size – from individual physiology to community ecology

Summary Accumulating evidence suggests that the average body size of many organisms is declining in response to climate warming. This phenomenon has been suggested to represent a universal response to warming that may impose significant adverse effects on ecosystem functioning and services. However, we do not have a thorough understanding of why body sizes are commonly declining, and why some organisms show the opposite response. Because ectotherms constitute the vast majority of organism biomass and about 99% of species worldwide, it is particularly important to understand how ectotherms respond to a warming climate. This review discusses the underlying physiological mechanisms of changes in ectotherm body size and addresses observed responses within a broad ecological context at different levels of organization, from individuals to communities, particularly in aquatic systems. Warming-induced responses in average body size are not only determined by changes in rates of individual growth and development, but also mediated through size-dependent feedbacks at the population level, as well as competitive and predatory interactions within the community. Emergent properties at higher organizational levels have already been observed in both experimental and natural systems. Various approaches will be required for enhancing our knowledge about the importance of such processes in natural systems. These include controlled semi-natural experiments and phylogenetic comparisons as well as statistical models of time-series data and theoretical models linking climate effects at the individual, population and community levels. Understanding causes of observed changes in organism body sizes and how these depend on the ecological context is essential for improving our predictions and the management of ecosystems in the face of a warming climate.
Uncertainty can Help Protect Local Commons in the Face of Climate Change

Climate change is likely to trigger abrupt and potentially persistent changes in the structure and function of marine ecosystems. Such ‘regime shifts’ threaten the livelihoods of millions of people reliant on small-scale fisheries. Yet, it is largely unknown how resource users cope with regime shifts, their uncertainty, and impacts. Here, we assess the potential for local collective action to avert uncertain, yet catastrophic, regime shifts. We conducted behavioural economic experiments with small-scale fishers (n=256) using a framed, dynamic common-pool resource game to test the effect of different degrees of uncertainty about the presence of climate-induced thresholds on exploitation patterns. Results from four communities in the Colombian Caribbean show that groups facing uncertain thresholds are likely to adapt in the sense that they sustain higher stock levels in order to avoid a regime shift. However, catch inequalities in the game, and community-level attributes appear to mitigate or even eliminate this effect; illustrating the critical role contexts play for behaviour. Our results suggest a more positive outlook regarding the inherent uncertainties of climate change compared to experimental evidence overwhelmingly proposing a negative relationship between uncertainty, collective action, and sustainable resource use. Instead, we conclude that in certain circumstances uncertainty can help protect the commons.
Insight into the Role of Exogenous Salicylic Acid on Plants Grown under Salt Environment

Salicylic Acid (SA) is an endogenous growth regulator of phenolic nature, which participates in the regulation of physiological processes in plants. It plays an important role in the plant response to adverse environmental conditions such as salinity. Meanwhile, soil salinity is a major constraint to food production because it limits crop yield and restricts use of land previously uncultivated. The SA plays an essential role in preventing oxidative damage in plants by detoxifying super oxide radicals, produced as a result of salinity. A review was highlighted the exogenous application of the lower concentrations of salicylic acid proved to be beneficial in enhancing the photosynthesis growth and various other physiological and biochemical characteristics of plants. Based on the morphology of the plants and parameters investigation it was concluded that SA tolerant plant, made quicker response to abiotic stresses. In the present review, we have focused on the effect of exogenous application of SA ant its protective effects on changing antioxidant enzyme activity for the salt tolerance in plants.
Tax Mimicking in Local Business Taxation: Quasi-Experimental Evidence from Portugal

I exploit an exogenous reform introducing a local business tax in Portugal to study tax mimicking among jurisdictions. The identification strategy relies on a quasi-experimental difference-in-differences methodology and heterogeneity in treatment intensity. Results provide evidence of significant short-run tax mimicking that decreases over time. I study possible generating processes underlying the strategic interaction among municipalities and find significant evidence of electoral concerns. These electoral concerns are not met with electoral consequences at the local elections, which may be behind the diffusion of local business taxation in the long run.
Labor Market Pooling: Evidence from Italian Industrial Districts

The paper provides an empirical investigation of the advantages accruing to workers in industrial clusters. Using a unique data set based on the Cluster Mapping Project of the Italian National Statistical Institute, we examine whether industry agglomeration leads to wage and labor mobility differentials. We estimate complete Mincerian wage equations, investigating whether returns to seniority and education are a possible source of differentiation. We find that working in an industrial cluster reduces the returns to education, does not affect the returns to seniority, and does not provide average wage premiums. On the other hand, industrial agglomeration positively affects the likelihood of being employed, of undertaking a business, and of transition from pay roll employment to entrepreneurship, and it increases blue-collar worker mobility across jobs.
Carbono e nitrogênio em solo de uma cronossequência de floresta tropical - pastagem de Paragominas

Soil samples from sites 4, 10 and 15 year-old pastures and one reference native forest, from Paragominas-Para (Brazil), were used to determine the carbon (C) and nitrogen (N) contents and the natural abundance of ¹³C isotope, with the objective of quantifying the C and N budgets during replacement of the forest by pastures. With pasture establishment, C and N contents were increased. After 4 and 15 years of pasture, the C content increased to 0.28 kg.m-2 and 0.86 kg.m-2 respectively in the 0-30 cm soil layer. The 10 year pasture remained stable (0.02 kg.m-2 decreased) in relation to the natural forest, but decreased by 0.15 kg.m-2 in the 0-10 cm layer. In the 0-30 cm layer, organic matter in the natural forest site was 2.6 kg.m-2 stable C and 2.1 kg.m-2 biodegradable C. After 10 and 15 years under pasture, biodegradable C represented 1.3 kg.m-2 and 1.0 kg.m-2, corresponding to 27.7% and 21.3% of the original forest C, while the stable C represented 2.6 kg.m-2.
Dietary biomagnification of organochlorine contaminants in Alaskan polar bears

Concentrations of organochlorine contaminants in the adipose tissue of polar bears (Ursus maritimus Phipps, 1774) vary throughout the Arctic. The range in concentrations has not been explained fully by bear age, sex, condition, location, or reproductive status. Dietary pathways expose polar bears to a variety of contaminant profiles and concentrations. Prey range from lower trophic level bowhead whales (Balaena mysticetus L., 1758), one of the least contaminated marine mammals, to highly contaminated upper trophic level ringed seals (Phoca hispida (Schreber, 1775)). We used δ15N and δ13C signatures to estimate the trophic status of 42 polar bears sampled along Alaska’s Beaufort Sea coast to determine the relationship between organochlorine concentration and trophic level. The δ15N values in the cellular portions of blood ranged from 18.2‰ to 20.7‰. We found strong positive relationships between concentrations of the most recalcitrant polychlorinated biphenyls (PCBs) and δ15N values in models incorporating.
Competition and Bank Integration in ASEAN

This paper is aimed at investigating how bank integration is in response to the impact of financial liberalization on bank competition. In this paper we develop tools to assess whether bank integration occurs in several economies in ASEAN. This study uses financial data from 2006 - 2017 published by 72 banks in ASEAN member countries, including Indonesia, Malaysia, Singapore, Philippines, Thailand and Vietnam. <br><br>We use the 3-step method to estimate our competition model. The approach includes production function model, static discrete choice games procedure, and Impulse Response Function. We find that development and openness in the financial sector are conducive to the economic performance of the observed ASEAN countries. We also conclude that financial liberalization along with financial development will stimulate banking productivity in the economies.
Studies on the succession of blue‐green algae, Microcystis, Anabaena, Oscillatoria and Phormidium in Lake Kasumigaura

Abstract This study was conducted to examine and determine the factors affecting dominance of the blue‐green algal species of genus Microcystis, Anabaena, Oscillatoria and Phormidium from 1988 to 1990 in eutrophic Lake Kasumigaura. The algal dominancy of the three Anabaena species, A. affinis,A. flos‐aquae and A. spiroides, took place in early summer, while the dominance of the Microcystis species, M. aeruginosa, M. viridis and M. wesenbergii, took place from summer to fall. Water samples were collected at Tsuchiura Harbour in Lake Kasumigaura. The correlations between cell numbers of blue‐green algal species and water qualities were investigated. The growth rates of algae in situ were determined. Af. aeruginosa showed the highest increasing growth rate, while Af. viridis was the lowest decay rate in the Microcystis species. M. aeruginosa exhibited high single correlations between water temperature, pH, total chemical oxygen demand (T‐COD) and dissolved chemical oxygen demand (D‐COD). The cell numbers of .
Working Capital Management and Sustainability: A Mini-Review

Working capital is those assets that are held by the corporate for the purpose of ensuring that its daily activities are well met, and its corporate goals are well accomplished. The report will assess how these working capitals can be well managed by the corporate and what is the importance of its management. The corporate will also take into view the previous peer journals which will help in gaining a better understanding of the research topic. While a link will be made with the sustainability aspect. For the research data generation, 20 SCOPUS and 5 SSRN articles will be assessed.
Parasites and Diseases of Wild Mammals in Florida

This work, a compilation of all known information on parasites diseases of the wild mammals of Florida, is significant because it is one of the few studies in which such data are arranged by host rather than by disease agent. Florida's rich mammalian fauna is made up of 96 species, 85 of them native and 11 that have been introduced into or have expanded their ranges into the state. The book contains information on the disease agents, natural elements, chemical contaminants, and environmental conditions that either can or do influence the health and diseases of 61 native and 8 nonnative species, including such endangered mammals as the Florida panther and the manatee. The work also deals with the public health considerations of diseases transmitted between humans and domesticated animals. Though some of the information comes from published literature, a significant portion of it was culled from personal files, notes, and reports of numerous individuals and organizations. A major reference work, ""Parasites and Diseases"" should be an essential resource for mammalogists, population ecologists, veterinarians, epidemiologists, entomologists, parasitologists, microbiologists, pathologists, wildlife biologists, and all others who make management or conservation decisions about Florida's fragile environment.
Métodos indiretos para estimar a massa de forragem em pastos de Cynodon spp

(3) Resumo – O planejamento e o manejo em sistemas de producao animal em pastagens utilizam como informacao essencial valores de massa e taxas de acumulo de forragem. Este trabalho avaliou dois metodos, regua e prato ascendente, para estimar a massa de materia seca de forragem em pastagens do genero Cynodon, cultivares Florakirk, Tifton 85 e Coastcross. Os pastos foram mantidos a 5, 10, 15 e 20 cm de altura por meio de lotacao continua de ovinos em um delineamento experimental de blocos completos ao acaso com 4 repeticoes. Durante 12 meses foram geradas curvas de calibracao do tipo y = a + bx entre altura do pasto (x), medida por meio de cada um dos dois metodos, e a massa de materia seca de forragem correspondente (y), em kg ha -1 . Os valores do intercepto (a) foram os mais influenciados por cultivar e epoca do ano. Houve variacao apenas moderada nos valores do coeficiente angular (b). Essa variacao esteve relacionada com modificacoes da estrutura do dossel forrageiro, particularmente a proporcao de material morto. Os metodos nao diferiram em precisao, porem o metodo do prato ascendente mostrou-se mais rapido e agil. A calibracao dos metodos deve ser especifica para cada cultivar e realizada frequentemente para que as equacoes geradas sejam precisas. Termos para indexacao: manejo de pastagem, planejamento, calibracao. Indirect methods for estimating herbage mass in Cynodon spp. swards
Synapsis in a natural autotetraploid

To test assumptions of the autotetraploid chromosome pairing model regarding events during synapsis, whole-mount spreads of synaptonemal complexes (SCs) of Machaeranthera pinnatifida (=Haplopappus spinulosus) (Asteraceae) (2n = 4x = 16) were analyzed by electron microscopy. On the assumption of one synaptic initiation per chromosome arm, each pachytene quadrivalent is expected to have one partner switch (PS), and the frequency of pachytene quadrivalents for each chromosome is predicted to be 2/3 (or 0.67). However, to the contrary, we observed a range of one to four PSs per pachytene quadrivalent with an overall mean of 1.56. This suggests that the number of synaptic initiations is greater than one per chromosome arm (or >two per chromosome), and the predicted frequency of pachytene quadrivalents should be >8/9 (based on a minimum of three initiations per chromosome). However, in close agreement with the model, the observed pachytene quadrivalent frequency from SCs in this study was 0.69. To explain the a.
Did Dubious Mortgage Origination Practices Distort House Prices?

ZIP codes with high concentrations of originators who misreported mortgage information experienced a 75% larger relative increase in house prices from 2003 to 2006 and a 90% larger relative decrease from 2007 to 2012 compared to other ZIP codes. Several causality tests show that high fractions of dubious originators in a ZIP code lead to large price distortions. Originators with high misreporting gave credit to borrowers with high ex-ante risk, yet further understated the borrowers' true risk. Overall, excess credit facilitated through dubious origination practices explain much of the regional variation in house prices over a decade.
Effects of intensity and frequency of harvesting on abundance, stocking and composition of natural regeneration in the Acadian forest of eastern North America.

In a silviculture experiment in east-central Maine, USA, natural regeneration was sampled to measure the effects of: (1) a range of partial harvest intensities, and (2) repeated partial harvest at one intensity. Under the first objective, five treatments were compared with residual basal areas ranging from 15 to 24 m2 ha-1 for trees =1.3 cm diameter at breast height. For the second objective, regeneration was evaluated after four harvests at 5 year intervals. Prior to harvests, the overstory of all the treated stands was dominated by Tsuga canadensis (L.) Carr. , Picea spp. A. Dietr. , and Abies balsamea (L.) Mill. Eleven species or species groups were identified among the regeneration: A. balsamea, T. canadensis, Picea spp. , Thuja occidentalis L. , Pinus spp. L. , Betula papyrifera Marsh. , Acer rubrum L. , Betula populifolia Marsh. , Populus spp. L. , Fagus grandifolia Ehrh. and Prunus serotina Ehrh.
The Change in Corporate Rating Standard on R&D Expenditures in Recent Periods

This study contains exploratory examination on the change in the relation between corporate credit ratings and R&amp;D expenses. Using U.S. firms with a credit rating from 1987 to 2013, we find that the negative relation between credit ratings and R&amp;D expenditures in early periods has become weaker over time. The positive association between R&amp;D expenditure and future performance is decreasing in recent periods, discarding the potential explanation on our finding that better R&amp;D profitability would induce rating agencies to assess R&amp;D expenditures more positively. This finding is also not explained by the change in sample composition and the recognition of intangible assets.
Equity Fragility

This article develops a formal framework for assessing the likelihood of large equity market drawdowns. The authors estimate a parsimonious logistic regression model for both the United States and a cohort of four additional developed markets and find that market crashes have historically been associated with a set of factors centered around valuation, technical, and macroeconomic indicators. The authors show that their framework is effective for both recessionary and nonrecessionary drawdowns. Finally, they show that, although the United States is a fundamental driver of market fragility globally, country-specific factors are still relevant for predicting the likelihood of large equity market drawdowns.
Transmission of exotic citrus tristeza virus isolates by a Florida colony of Aphis gossypii

(.) Aphid subcultures of several original source isolates that induce CTV decline, seedling yellows, and sweet orange and grapefruit stem pitting were compared for host reactions. All disease components were transmitted. Reduction of virulence of some aphid-transmitted subcultures was obtained by deliberate selection of variants in Mexican lime indicators compared with the original isolate(.)