Miracle-dz/UniFAR-FTUs huggingface dataset:
Political Economy of Labor Retrenchment:Evidence Based on China's State-Owned Enterprises

This study examines the determinants of the restructuring of China's SOEs in the late 1990s. Our study yields four major findings. First, we find that the degree of labor retrenchment is negatively related to enterprise performance, suggesting that poor performance is a major force driving labor restructuring. Second, we find that market competition is related to both traditional and corporatized SOEs, suggesting that market competition gradually becomes an effective disciplinary force for managers of China's SOEs. Furthermore, we offer evidence that decisions about labor retrenchment in traditional SOEs are related to the local government's fiscal position and to local reemployment conditions for laid-off workers. In contrast, labor decisions in corporatized SOEs are not related to these two variables. This suggests that corporatized SOEs with partial private ownership seem to enjoy higher autonomy in labor decisions.
Macroinvertebrate distributions in relation to human and animal-induced physical disturbance of the sediment surface in two Kenyan tropical Rift Valley streams

A study of macroinvertebrate distribution in relation to different levels of human and animal physical disturbance of the sediments of the Njoro (highly disturbed) and Ellegirini (less disturbed) rivers was conducted from October 2001 to June 2002, and again in 2012 only in the Njoro River. The rivers have similar climate and land-use characteristics but differ in the frequency and intensity of human and animal disturbance of their sediment surfaces. Benthic macroinvertebrates were sampled during both low discharge, when the disturbances were high, and high discharge, when the disturbances were low. Macroinvertebrate abundance and diversity were higher in the Ellegirini than in the Njoro River. Sites characterised by high disturbance had low macroinvertebrate abundance and diversity, and were dominated by one taxon that tolerated disturbance irrespective of flow regimes. A consistent decline in macroinvertebrate abundance and diversity in the Njoro River as a result of increased disturbance was evident in 2001–2002 and 2012. Macroinvertebrates are most probably redistributed via migration and dispersal, due to these physical disturbances.
Domestic and Cross-Border Effect of Acquisition Announcements: A Short-Term Study for Developed and Emerging Countries

Abstract Using a multi-country set of acquirers from 14 different markets, we aim to develop a global understanding of the impact of acquisition announcements on both developed and emerging-market acquirers. Our sample contains 624 acquisition announcements, with target firms located around the world, between 1997 and 2015. The results contradict the conventional wisdom that developed-market acquirers generally experience losses.
TAXONOMIC STUDY OF BIGELOWIELLA LONGIFILA SP. NOV. (CHLORARACHNIOPHYTA) AND A TIME‐LAPSE VIDEO OBSERVATION OF THE UNIQUE MIGRATION OF AMOEBOID CELLS 1

A new species of a chlorarachniophyte alga, Bigelowiella longifila sp. nov., is described. It is classified as a member of Bigelowiella as flagellate cells constitute the main stage of the life cycle. However, this alga is different from the only described species of the genus, B. natans Moestrup, in having a unique amoeboid stage in the life cycle. We observed an interesting behavior of amoeboid daughter cells after cell division: One of the two daughter cells inherits the long filopodium of the parental cell, and it subsequently transports its cell contents through the filopodium to develop at its opposite end. The other daughter cell forms a new filopodium. This unequal behavior of daughter cells may have evolved before the chlorarachniophytes and some colorless cercozoans diverged.
Application of Anti-Windup Phenomenon for an Estimator Design in A Multivariable System

Using an anti-windup property an illustrative example of multivariable system is provided here in this study. An estimator has been designed using the logic anti-windup, where proportional integral control law is applied to perform the analysis. Controlling a single input single output system is very simple but for a multivariable system controlling becomes complex. The estimator is activating the observer and using parameters unknown states of the plant estimated. Now using this control logic unwanted external disturbances also was mitigated using the anti-windup state observer based controller (AWC).
Functional Differentiation

Models of product differentiation typically assume a demand for variety. This paper derives the demand for variety in a model where a representative consumer chooses how many specialised varieties to purchase for the pursuit of different activities. In contrast with previous models this generates a demand for variety that is price and income elastic. In applications to monopoly and duopoly I find that whilst a duopoly will choose efficient characteristics it will offer too many specialised varieties, whereas a monopoly will either offer excessively specialised varieties or too few specialised varieties on the assumption of no fixed costs of variety.
A Semi-Systematic Review of the Perceived Cost of Mobile Payment in Sub-Sahara Africa

Mobile payment has gain popularity worldwide due to the offer of convenience. In the sub-Sahara Africa, mobile money is the flagship offer with the highest diffusion rate in the mobile payment segment. Nonetheless, recent complaints from customers about the high cost associated with mobile money usage in the sub-region have gone under the radar of empirical studies simply due to the perceived ability of the mobile money to bring many out of poverty. Using a semi-systematic review of news articles and blogs in a content analysis, we explore the perceived cost of mobile money usage in the sub-region. Results from our study indicate that governments, businesses, individuals and other stakeholders in the sub-region all find mobile money charges to be high. Again, tax imposition by governments and the regressive structure of mobile money charges affect mostly the poor in society. These we believe are caused by the oligopolistic nature of the financial technology (FinTech) market dominated by foreign-owned telecos.
Some Observations on the Shape and Localization of Different Viruses in Experimentally Infected Plants, and on the Fine Structure of the Host Cells. II. Nicotiana Glutinosa Systemically Infected with Cucumber Mosaic Virus, Strain y

SUMMARYThe morphological changes induced in leaf cells of Nicotiana glutinosa by CMV-Y have something in common both with those found in virus-infected animals, and with those induced in plants following lacking of mineral elements or mutation.As to the chloroplasts, the alterations are different in leaf areas showing different macroscopical changes. In leaves with mottling the chloroplasts have fragmented lamellae and are often deeply indented. In leaves with chlorotic areas a great number of chloroplasts are exceedingly small, while in dark green areas the chloroplasts contain a number of vesicles and often have ruptured membranes.The tonoplast often disappears, so that the cells become uniformly filled with altered cytoplasmic organelles.The ribosomes are numerous, sometimes aggregated in small groups (infective polysomes? ). The Golgi complex gives rise to a great number of vesicles, thus showing an increased activity. The cytoplasm becomes vacuolated and shows masses of membranes often arranged in myel.
Residual Income Model and Abnormal Returns: A Comparison to Factor Styles and Sell-Side Analysts

We investigate the return forecasting ability of a residual income model based on analysts’ estimates and time-varying risk-free rates, equity risk premiums and terminal value growths, in US and Europe, along the period 1995-2018. While the academic literature acknowledged the reliability of the model, practitioners and especially market operators paid scarce attention to it. Therefore, in a framework where market inefficiencies are admitted, a valuation model that shows superior predicting power for returns, at least compared to main market multiples and analysts’ recommendations, should be considered in providing better empirical estimates of intrinsic value. We display three major results: a) RIM-based V/P portfolios yield statistically significant alphas relative to market indexes; b) outperform portfolios built through other factors, reporting higher Sharpe ratios and information ratios; c) remarkably beat analysts’ buy-sell recommendations. Furthermore, two facts stand out: RIM proves to be extremely effective in signaling overvalued stocks and producing substantial long-short returns; the simpler RIM model studied generates<br>better outcomes than the more complex one.
Managing breeding forest songbirds with conspecific song playbacks

Recent studies confirm that several territorial songbird species use conspecific cues, including song, when selecting habitat. We conducted a controlled experiment with a population of black‐throated blue warblers Dendroica caerulescens, a species of concern in boreal hardwood transition forests, to determine whether song playbacks influence settlement patterns. We tested whether conspecific song broadcast during spring arrival attracts black‐throated blue warblers during territory establishment, and whether song playbacks shift territories from the previous year's breeding distributions. The results of our experiment demonstrate that song playbacks significantly increased territorial occupancy and shifted territories closer to the speakers. Loss of breeding habitat is implicated in population declines of many songbirds, and our results suggest that song playbacks should be further investigated as a tool for mitigating the effects of disruptive management actions. Additional work should consider the spatial arrangement of playback speakers to avoid attracting birds from safe areas. The demographic consequences of conspecific attraction must also be explored before this technique is widely implemented.
The Impact of Non-Pharmaceutical Interventions on Unemployment During a Pandemic

We use high-frequency Google search data, combined with data on the announcement dates of non-pharmaceutical interventions (NPIs) during the COVID-19 pandemic in U.S. states, to isolate the direct impact of state-level NPIs on own-state unemployment in an event study framework. Exploiting the differential timing of the introduction of restaurant and bar limitations, non-essential business closures, stay-at-home orders, large-gatherings bans, school closures, and emergency declarations, we analyze how Google searches for claiming unemployment insurance varied from day to day and across states. We describe a set of assumptions under which proxy outcomes can be used to estimate a causal parameter of interest when data on the outcome of interest are limited. Using this method, we quantify the share of overall growth in unemployment during the COVID-19 pandemic that was directly due to each of these state-level NPIs. We find that between March 14 and 28, restaurant and bar limitations and non-essential business closures can explain 6.0% and 6.4% of UI claims respectively, while the other NPIs did not directly increase own-state UI claims.
Co-Evolution of Consciousness and Biases That Make Humans Behave Against Their Own Interest

Humans are subject to a number of biases, such as hedonic adaptation, lack of self-control, and conspicuous consumption. A theoretical literature that analyzed the evolutionary origins of these biases has found that they generate behaviors that are adaptive but detrimental for the individual, what generates a gene-individual conflict. I propose the Biased Consciousness (BC) theory, that posits that biases and consciousness co-evolved, in such a way that adaptive behaviors that are detrimental for the individual operate outside of conscious awareness. The BC theory proposes a unified explanation for the origin of biases (independent of evolutionary mismatch and ecological rationality), that can shed light on issues on mental health and on the mechanisms for overcoming those biases, what has consequences for public policy. Moreover, the BC theory has implications for the study of consciousness, in particular about the “engineering of consciousness” in Artificial Intelligence: it might be optimal to endow a conscious agent with biases insulated from its conscious awareness, what raises pragmatic and ethical considerations.
The Expansion of Regional Supermarket Chains and Implications For Local Suppliers: A Comparison of Findings From South Africa, Botswana, Zambia, and Zimbabwe

Since the early 2000s, there has been rapid growth in the number and spread of supermarkets in southern Africa. This paper is a synthesis of key findings of studies undertaken in Botswana, South Africa, Zambia, and Zimbabwe on the expansion of supermarkets and the impact this has had on suppliers and the competitive landscape in the region. Supermarkets are driving trade patterns in processed foods and household consumables within the region, opening up large markets for suppliers. If supermarkets are to become a key route to regional markets for suppliers, national policies and laws that currently exist need to be harmonized across the region with a wider view of developing regional value chains. Among key findings of the studies, supermarket procurement and sourcing strategies as well as buyer power are seen to affect the participation of suppliers in supermarket value chains, and affect the development of their capabilities. The impact on the competitive landscape of the spread of supermarkets in each country is also assessed, highlighting concerns of strategic behaviour that dominant supermarkets can engage in to exclude rivals.
Information Asymmetry among Investors and Strategic Bidding in Peer-to-Peer Lending

Peer-to-peer (P2P) lending became a global phenomenon in recent years. Despite their prominence in the “FinTech” era, P2P platforms remain a risky investment because of the high default rate of unsecured personal loans funded on such platforms. In contrast, the rate of return can be much higher than that of other investments if P2P loans are repaid. Therefore, investors of P2P loans need information about borrowers’ ability to repay. An important channel is to learn from other investors who may have information advantages. We argue that, because collective effort from investors is required in P2P lending, it could be optimal for informed investors to bid early in projects with the purpose of signaling the quality. With a unique data set from Prosper.com, we find that informed investors are indeed more likely to bid in the early stage of a project with a low probability of being funded, whereas uninformed investors will follow. The “squatting” behavior (early bidding) of informed investors facilitates information spillover to uninformed investors, benefitting the investors and borrowers who otherwise may not raise sufficient funding. Our findings also have implications for P2P lending platforms on how to manage the information asymmetry and strategic behaviors of investors.
The Long-Term Legacy of the Khmer Rouge Period in Cambodia

De Walque studies the long-term impact of genocide during the period of the Khmer Rouge (1975-79) in Cambodia and contributes to the literature on the economic analysis of conflict. Using mortality data for siblings from the Cambodia Demographic and Health Survey in 2000, he shows that excess mortality was extremely high and heavily concentrated during 1974-80. Adult males had been the most likely to die, indicating that violent death played a major role. Individuals with an urban or educated background were more likely to die. Infant mortality was also at very high levels during the period, and disability rates from landmines or other weapons were high for males who, given their birth cohort, were exposed to this risk. The very high and selective mortality had a major impact on the population structure of Cambodia. Fertility and marriage rates were very low under the Khmer Rouge but rebounded immediately after the regime's collapse. Because of the shortage of eligible males, the age and education differences between partners tended to decline. The period had a lasting impact on the educational attainment of the population. The education system collapsed during the period, so individuals - especially males - who were of schooling age during this interval had a lower educational attainment than the preceding and subsequent birth cohorts. This paper - a product of the Public Services Team, Development Research Group - is part of a larger effort in the group to understand the consequences of conflict.
Staying dry on Spanish wine: the rejection of the 1905 Spanish-Italian trade agreement (Updated May 2020)

After a long debate on wine import tariffs, the Italian Parliament rejected the Spanish-Italian trade agreement on 17 December 1905. This decision left Spain and Italy without a bilateral trade treaty for an entire decade. In the literature, broader political issues and local interests are alternatively indicated as the main drivers of the rejection. Based on a new database which collects economic and political variables (including MPs personal features) and using a probit model, this paper provides a quantitative analysis of the vote. Results show that constituency interests had a role in determining the result of the vote on the trade treaty. Moreover, constituency interests were also important for the “vote switchers”, i.e. those MPs that supported the overall government policy stance in the first round, but opposed the Spanish-Italian trade agreement in the second.
Development and characterization of nine polymorphic microsatellite markers in the sand goby Pomatoschistus minutus (Gobiidae)

A microsatellite-enriched genomic library was constructed for the sand goby, Pomatoschistus minutus (Pallas 1770), and nine polymorphic DNA microsatellite markers of high quality were successfully optimized. Characterization of 96 individuals from the Vaccares lagoon (France) showed moderate to high levels of polymorphism (two to 54 alleles). All the markers conformed to Hardy–Weinberg equilibrium and showed no evidence of null alleles, large allele dropout, stuttering and linkage disequilibrium between pairs of loci. These markers successfully amplify in three closely related species and can be employed to investigate population genetic structure and to clarify paternity in Pomatoschistus species.
Host‐related life history traits in interspecific hybrids of cactophilic Drosophila

In the genus Drosophila (Diptera: Drosophilidae), interspecific hybridization is a rare phenomenon. However, recent evidence suggests a certain degree of introgression between the cactophilic siblings Drosophila buzzatii Patterson & Wheeler and Drosophila koepferae Fontdevila & Wasserman. In this article, we analyzed larval viability and developmental time of hybrids between males of D. buzzatii and females of D. koepferae, raised in media prepared with fermenting tissues of natural host plants that these species utilize in nature as breeding sites. In all cases, developmental time and larval viability in hybrids was not significantly different from parental lines and, depending on the cross, hybrids developed faster than both parental species or than the slowest species. When data of wing length were included in a discriminant function analysis, we observed that both species can be clearly differentiated, while hybrids fell in two categories, one intermediate between parental species and the other consisting of extreme phenotypes. Thus, our results point out that hybrid fitness, as measured by developmental time and viability, is not lower than in the parental species.
Randomness, Area, and Species Richness

Thorough censuses have been made of breeding birds on islands in Pymatuning Lake, a reservoir at the Pennsylvania-Ohio border. Analysis of the censuses yields the conclusion that for these islands the variation of the number of resident avian species with island size is that which one would expect if the birds were distributed randomly, with the probability of a breeding pair residing on an island proportional to the area of the island and independent of the presence of other pairs. This type of random placement of individuals can yield species-area relations which differ from those commonly employed for analysis of biogeographic data.
Priority Rules

While regulators often mandate price priority across markets, they do not impose<br>secondary priority rules. Order preferencing by a broker to a speciﬁc market may then<br>serve as tiebreaker. We compare order preferencing, modeled as price-broker-time priority (PBT), to price-time priority (PT). The secondary priority rule determines a limit<br>order’s execution probability, and hence investors’ choice between limit and market orders. When the tick is tight relative to the dispersion in investors’ valuations, trading<br>rates are higher with PBT whereas investor welfare is higher with PT. The opposite<br>holds for wide ticks. Our model has empirical and regulatory implications regarding<br>market fragmentation.
Effect of Personal Transfers and Exports on Economic Growth in Morocco: Econometric Analysis over the Period 1975–2017

This study aims to examine the effect of personal transfers and exports on economic growth in Morocco using the annual data for the period (1975-2017). To deduce the nature of this effect, we tested the stationarity of the variables and the cointegration between the variables according to the Johansen method. <br><br>The cointegration test showed that there is only one cointegration relationship between the variables, which allows us to apply the error correction model. The error correction model estimation results show that the long-term relationship is more significant, and that GDP per capita responds positively to changes in exports and personal transfers. A 1% increase in personal transfers improves per capita GDP by 0,12%. Similarly, an increase in exports by one point of percentage of GDP produces an improvement in per capita GDP of 0,068%.
Regulatory Capital Management to Exceed Thresholds

Analyzing public and private US commercial banks, we document a discontinuity around the 10% regulatory capital ratio. This threshold separates well capitalized from adequately capitalized banks, granting benefits to banks that fall into the former category. We find that the significance and magnitude of the discontinuity varies predictably with banks' incentives to exceed the threshold: lower deposit insurance fees, access to brokered deposits, and access to financial activities. Banks use accounting and non-accounting tools to exceed the threshold. We exploit this discontinuity to show that regulatory capital management has detrimental effects on bank stability when banks use accounting management but not when they raise equity directly or receive a transfer from the parent institution.