Miracle-dz/UniFAR-FTUs huggingface dataset:
Bond Pricing with Default Risk ∗

We price corporate debt from a structural model of firm default. We assume that the capital market brings about efficient firm default when the continuation value of the firm falls below the value it would have after bankruptcy restructuring. This characterization of default makes the model more tractable and parsimonious than the existing structural models. The model can be applied in conjunction with a broad range of default-free interest rate models to price corporate bonds. Closed-form corporate bond prices are derived for various parametric examples. The term structures of yield spreads and durations predicted by our model are consistent with the empirical literature. We illustrate the empirical performance of the model by pricing selected corporate bonds with varied credit ratings. ∗We thank Amit Goyal, Bing Han, Matthias Kahl, Alessio Saretto, Eduardo Schwartz, and Elena Sernova for helpful comments. Please address correspondence to the authors at: The Anderson Graduate School of Management at UCLA, 110 Westwood Plaza, Los Angeles, CA 90095-1481. E-mail: jason.hsu@anderson.ucla. edu, pedro.santa-clara@anderson.ucla. edu. Traditionally the credit risk literature has taken two approaches to the valuation of corporate debt. The ‘structural’ approach models the bankruptcy process explicitly. It defines both the event that triggers default and the payoffs to the bond holders at default in terms of the assets and liabilities of the firm. Substantial abstraction of the bankruptcy game is required to retain tractability. The structural approach to firm default has only been able to produce closed-form prices under extremely simplistic capital structure assumptions. The ‘reduced-form’, or ‘statistical’ approach treats default as an event governed by an exogenously specified jump process. The statistical approach is very tractable. Duffie and Singleton (1999) show that any default-free term structure model can be used to price bonds with default risk. One simply models the spot interest rate to include an instantaneous default spread. Affine term structure models can then be tweaked to produce closed-form corporate bond prices. The tradeoff of realism for tractability in structural models has, so far, generated less than satisfactory empirical pricing performance. As a consequence, the applied literature has favored statistical models over structural models. However, beyond good in-sample fit, we are ultimately interested in linking the determinants of default to firm characteristics. For this purpose, the reduced-form approach is less suitable; hence, the appeal of structural models. Our paper offers a highly tractable structural model of default which performs well Since this paper is structural in nature, we refer readers interested in the statistical models to Litterman and Iben (1991), Madan and Unal (1993), Fons (1994), Das and Tufano (1995), Jarrow and Turnbull (1995), Jarrow, Lando and Turnbull (1997), Lando (1997, 1998), and Duffie and Singleton (1999), and Duffie and Lando (2001) amongst other excellent treatments on the topic.
The common P446L polymorphism in GCKR inversely modulates fasting glucose and triglyceride levels, and reduces type 2 diabetes risk in a prospective general French population: the D.E.S.I.R. Study

1 CNRS 8090-Institute of Biology, Pasteur Institute, Lille, France 2 Lille 2 University, Lille, France 3 the Regional Institut for Health, Tours, France 4 INSERM U695, Paris, France, 5 René Diderot-Paris 7 University, Paris, France 6 Department of Endocrinology-Diabetology and Nutrition, Bichat Claude Bernard Hospital, Paris, France, 7 INSERM U780-IFR69, Villejuif, France 8 University of Paris-Sud, Villejuif, France 9 Genomic Medicine, Hammersmith Hospital, Imperial College London, United Kingdom
Bifurcation and Chaos in Converter Interfaces in Solar PV Systems-A Review

The paper attempts to present a detailed study of the nonlinear phenomena that includes bifurcations, sub-harmonics and chaos in an effort to arrive at the appropriate choice of converter interface suitable for specific PV systems and evolve criterions for their design and control. The resurgence of switching dc-dc converters as power processing units in renewable energy applications appear to open up new perceptions for harnessing energy efficiency. The focus orients to review the modelling techniques used for nonlinear analysis in the different operating modes of the converter and identify the gap in the related domain with special relevance to the converter interfaces in solar PV systems. The exercise incites to explain the forms of bifurcations, the routes to chaos and the associated control techniques for arbitrating its significance in this perspective. The benefits of analysis of nonlinear phenomena in regulatory applications claim a new space in energy processing applications and forge to explore their role as maximum power point (MPP) trackers. The emphasis endeavours to enhance the scope of use of solar energy and offer a fresh dimension to support the clean energy act and perpetuate the desire to enliven a greener world.
Exploring Automated Trading: Modeling a Financial System with a Variable Degree of Automation, Display Design, and Evaluation

Function (Principles, Priorities, and Values) Generalized Function (Processes) Physical Function (Components) Physical Form (Attributes) To achieve a maximum rate of profitable revenue To meet lawful and market constraints Flow model of capital Law of supply and demand Flow model of market information Balance gains and losses Financial decision-making principles Laws, regulations and policies Ethics To buy To obtain market information To sell To plan trading strategies Order Securities Exchange Account Position Intermediary Buyer Seller Fixed cost Variable cost Strategy life cycle Latency Market state Position state Market price Order price Position price Market volume Order volume Position volume Market time Order time Volume Price State Time Cost Market constraints 1
University of Birmingham Cycle-Complete Ramsey Numbers

The Ramsey number r(C`,Kn) is the smallest natural number N such that every red/blue edge-colouring of a clique of order N contains a red cycle of length ` or a blue clique of order n. In 1978, Erdős, Faudree, Rousseau and Schelp conjectured that r(C`,Kn) = (`− 1)(n− 1) + 1 for ` ≥ n ≥ 3 provided (`, n) 6= (3, 3). We prove that, for some absolute constant C ≥ 1, we have r(C`,Kn) = (` − 1)(n − 1) + 1 provided ` ≥ C logn log logn . Up to the value of C this is tight since we also show that, for any ε > 0 and n > n0(ε), we have r(C`,Kn) (`− 1)(n− 1) + 1 for all 3 ≤ ` ≤ (1− ε) logn log logn . This proves the conjecture of Erdős, Faudree, Rousseau and Schelp for large `, a stronger form of the conjecture due to Nikiforov, and answers (up to multiplicative constants) two further questions of Erdős, Faudree, Rousseau and Schelp.
Inference in Threshold Models

This paper develops new statistical inference methods for the parameters in threshold regression models. In particular, we develop a test for homogeneity of the threshold parameter and a test for linear restrictions on the regression coefficients. The tests are built upon a transformed partial-sum process after re-ordering the observations based on the rank of the threshold variable, which recasts the crosssectional threshold problem into the time-series structural break analogue. The asymptotic distributions of the test statistics are derived using this novel approach, and the finite sample properties are studied in Monte Carlo simulations. We apply the new tests to the tipping point problem studied by Card, Mas, and Rothstein (2008), and statistically justify that the location of the tipping point varies across tracts.
Variation in discrimination factors (Îfl<sup>15</sup>N and Îfl<sup>13</sup>C): the effect of diet isotopic values and applications for diet reconstruction

1. The use of stable isotopic techniques to study animal diets and trophic levels requires a priori estimates of discrimination factors ( Δ 13 C and Δ 15 N, also called fractionation factors), which are the differences in isotopic composition between an animal and its diet. Previous studies have shown that these parameters depend on several sources of variation (e.g. taxon, environment, tissue) but diet as a source of variation still needs assessment. 2. We conducted an extensive review of the literature (66 publications) concerning estimates of animal-diet Δ 13 C ( n = 290) and Δ 15 N ( n = 268). We analysed this data set to test the effect of diet isotopic ratio on the discrimination factor, taking into account taxa, tissues, environments and lipid extraction treatments. Our results showed differences among taxonomic classes for Δ 13 C, but not for Δ 15 N, and significant differences among tissues for both Δ 13 C and Δ 15 N. We found a significant negative relationship between both, Δ 13 C and Δ 15 N, with their corresponding diet isotopic ratios. This relationship was found also within taxonomic classes for mammals ( Δ 13 C and Δ 15 N), birds ( Δ 13 C), fishes ( Δ 13 C and Δ 15 N) and invertebrates ( Δ 13 C and Δ 15 N). From these relationships, we propose a method to calculate discrimination factors based on data on diet isotope ratios (termed the ‘Diet-Dependent Discrimination Factor’, DDDF). 3. To investigate current practice in the use of discrimination factors, we reviewed studies that used multi-resource isotopic models. More than 60% of models used a discrimination factor coming from a different species or tissues, and in more than 70% of models, only one Δ 13 C or Δ 15 N was used for all resources, even if resources had very different isotopic ratios. Also, we estimated DDDFs for the studies that used isotopic models. More than 40% used Δ 15 N values and more than 33% used Δ 13 C values differing > 2‰ from estimated DDDFs. 4. Synthesis and applications . Over the last decade, applied ecologists have discovered the potential of stable isotopes for animal diet reconstruction, but the successful adoption of the method relies on a good estimation of discrimination factors. We draw attention to the high variability in discrimination factors, advise caution in the use of single discrimination factors in isotopic models, and point to a method for obtaining adequate values for this parameter when discrimination factors cannot be measured experimentally. Future studies should focus on understanding why discrimination factors vary as a function of the isotopic value of the diet.
Long Non-Coding RNA CRNDE Promotes Colorectal Carcinoma Cell Progression and Paclitaxel Resistance by Regulating miR-126-5p/ ATAD2 Axis

Background: Long non-coding RNA colorectal neoplasia differentially expressed (lncRNA CRNDE) and microRNA-126-5p (miR-126-5p) were reported to be related to the development of colorectal carcinoma (CRC). However, the detailed mechanism of CRNDE and miR-126-5p is not fully understood. The purpose of this research was to explore their roles and molecular mechanism in CRC. Methods: Quantitative real-time polymerase chain reaction was performed to detect the transcription levels of genes. Paclitaxel (PTX) was used to analyze cell drug resistance. 3-(4, 5-Dimethylthiazol-2-yl)-2, 5-diphenyltetrazolium bromide assay and ﬂ ow cytometry analysis were employed to assess cell proliferation and apoptosis, respectively. Furthermore, cell migratory and invasive abilities were measured using transwell assay. The interaction between miR-126-5p and CRNDE or ATPase family AAA domain-containing protein 2 (ATAD2) was predicted by online tool starbase and then con ﬁ rmed using the dual-luciferase reporter assay. Besides, Western blot assay was carried out to detect the levels of proteins. Results: CRNDE and ATAD2 expressions were upregulated and miR-126-5p expression was downregulated in CRC tissues and cells. CRNDE depletion repressed PTX resistance and the growth of CRC cells. Interestingly, we found that miR-126-5p was a target gene of CRNDE, and miR-126-5p directly targeted ATAD2. Furthermore, CRNDE affected CRC cell progression via modulation of miR-126-5p/ATAD2 axis in CRC cells. Conclusion: Our data suggested that CRNDE regulated CRC cell development and PTX resistance by modulating miR-126-5p/ATAD2 axis, providing the theoretical basis for the treatment of CRC patients.
OPTH_A_263474 2533..2541

Eye Clinic, Department of Surgical Sciences, University of Turin, AOU Città della Salute e della Scienza, Turin, Italy Purpose: This study aims to evaluate the effectiveness of different decompressive injection techniques in reducing intraocular pressure (IOP) spikes, if compared to the injection without pressure applied on the eye, following the intravitreal injection of bevacizumab. Patients and Methods: Two hundred patients with indication to intravitreal therapy were randomized into five arms: 40 received intravitreal injection without ocular decompression (arm A), 40 with pre-injection scleral indentation with cotton swab (arm B), 40 with preinjection digital ocular massage (arm C), 40 with post-injection scleral indentation with cotton swab (arm D) and 40 with post-injection digital ocular massage (arm E). All patients underwent measurement of the IOP with Goldamm applanation tonometer 10 minutes before and 10 minutes after the injection. The primary endpoint of the study was variation of the postinjection IOP with the different techniques. Results: An increase in post-injection IOP was observed in all the arms, if compared to preinjection values. The greatest increase was observed in arm A with a mean IOP rise of 17.60 mmHg. All other techniques showed lower mean IOP increases: arm B 10.76 mmHg, arm C 9.35 mmHg, arm D 8.8 mmHg, arm E 3.4 mmHg. The post-injection IOP differences of innovative techniques compared to the technique without ocular decompression were all statistically significant (p-value <0.01). If compared to arm A (35%), a reduction in IOP spike ≥40 mmHg frequency was also observed. The status of phakia/pseudophakia, a previous diagnosis of glaucoma and the underlying pathology for which indication was given to inject bevacizumab did not significantly alter the post-injection IOP in any of the protocols. Conclusion: The introduction of new injection protocols, such as injections performed before or after decompressive treatments, could be a safe and effective approach to control post-injection IOP increase.
R ESISTANCE T RAINING VS . S TATIC S TRETCHING : E FFECTS ON F LEXIBILITY AND S TRENGTH

Resistance training vs. static stretching: Effects on ﬂexibility and strength. J Strength Cond Res 25(12): 3391–3398, 2011—The purpose of this study was to determine how full-range resistance training (RT) affected ﬂexibility and strength compared to static stretching (SS) of the same muscle–joint complexes in untrained adults. Volunteers ( n = 25) were randomized to an RT or SS training group. A group of inactive volunteers ( n = 12) served as a convenience control group (CON). After pretesting hamstring extension, hip ﬂexion and extension, shoulder extension ﬂexibility, and peak torque of quadriceps and hamstring muscles, subjects completed 5-week SS or RT treatments in which the aim was to stretch or to strength train the same muscle–joint complexes over similar movements and ranges. Posttests of ﬂexibility and strength were then conducted. There was no difference in hamstring ﬂexibility, hip ﬂexion, and hip extension improvement between RT and SS, but both were superior to CON values. There were no differences between groups on shoulder extension ﬂexibility. The RT group was superior to the CON in knee extension peak torque, but there were no differences between groups on knee ﬂexion peak torque. The results of this preliminary study suggest that carefully constructed full-range RT regimens can improve ﬂexibility as well as the typical SS regimens employed in conditioning programs. Because of the potential practical signiﬁcance of these results to strength and conditioning programs, further studies using true experimental designs, larger sample sizes, and longer training durations should be conducted with the aim of conﬁrming or disproving these results.
RBC and UKQCD collaborations

We present results for the leading hadronic contribution to the muon anomalous magnetic moment due to strange quark-connected vacuum polarisation effects. Simulations were performed using RBC–UKQCD’s Nf = 2 + 1 domain wall fermion ensembles with physical light sea quark masses at two lattice spacings. We consider a large number of analysis scenarios in order to obtain solid estimates for residual systematic effects. Our final result in the continuum limit is a (2) had, s μ = 53.1(9) ( +1 −3 ) × 10−10. ar X iv :1 60 2. 01 76 7v 3 [ he pla t] 3 M ay 2 01 6
Analysis of the Effects of Formative Assessment in Promoting Transfer of Learning in an Undergraduate General Microbiology Laboratory Course

ed from the learning context. Skills have become automatic to the degree that a low-road skill is practiced in any situation (Salomon & Perkins, 2015). Lateral Transfer of Complexity: Development and transfer of skills from one context to another that is at the same level of complexity, i.e., using skills and knowledge in other similar lab contexts (Gagné, 1965). Learning Transfer: The theory of learning transfer is based in the idea that knowledge or skills learned in one context will be used in a different context (Greeno et al., 1993). Low-road Transfer of Automaticity: Skills repeatedly practiced until they are mastered and can be applied to situations resembling the practice situation without effort (Salomon & Perkins, 2015). Near Transfer of Context: Transfer of knowledge, understanding, or application of knowledge to future lab activities in MCB 3020, other labs or classes, or to other similar, yet nonspecific contexts (Mayer, 1975). Quiz Exhaustion: For the purposes of this study, I define quiz exhaustion to be a gradual decline in the quality and specificity of student responses to reflection questions in the post-lab quizzes analyzed from the Summer 2016 semester. Students were asked essentially the same two questions in each quiz, and the qualitative evidence suggests that students had reached a point of saturation when asked questions about the application of lab knowledge, skills, and techniques to their future careers. Summative Assessment: An assessment usually given at the end of a semester or instructional unit designed to determine students’ comprehension of material (Lau, 2016). In the context of this study, summative assessments in general microbiology are lab
A first record of Ephoron virgo (Olivier, 1791) (Ephemeroptera: Polymitarcyidae) from the Sava River, with notes on its ecological preferences and rarity of findings in the region

Ephoron virgo (Olivier, 1791) is an European burrowing filter-feeding mayfly species. Once common in large rivers, in XX century it became rare due to increased negative anthropogenic influences. In Serbia there was only one recent report of its presence, from the Danube River (Iron Gate area). The aim of this paper is to report on the first finding of E. virgo from the Sava River, and to discuss its scarce findings in the region. Three larval specimens were found in the Belgrade region in grab sample taken in 2014. In order to assess the development of the population in the region, a comprehensive investigation should be conducted.
DMD053512 126..133

Carboxylesterase 1 (CES1) is the major hydrolase in human liver. The enzyme is involved in the metabolism of several important therapeutic agents, drugs of abuse, and endogenous compounds. However, no studies have described the role of human CES1 in the activation of two commonly prescribed angiotensinconverting enzyme inhibitors: enalapril and ramipril. Here, we studied recombinant human CES1and CES2-mediated hydrolytic activation of the prodrug esters enalapril and ramipril, compared with the activation of the known substrate trandolapril. Enalapril, ramipril, and trandolapril were readily hydrolyzed by CES1, but not by CES2. Ramipril and trandolapril exhibited Michaelis-Menten kinetics, while enalapril demonstrated substrate inhibition kinetics. Intrinsic clearances were 1.061, 0.360, and 0.02 ml/min/mg protein for ramipril, trandolapril, and enalapril, respectively. Additionally, we screened a panel of therapeutic drugs and drugs of abuse to assess their inhibition of the hydrolysis of p-nitrophenyl acetate by recombinant CES1 and human liver microsomes. The screening assay confirmed several known inhibitors of CES1 and identified two previously unreported inhibitors: the dihydropyridine calcium antagonist, isradipine, and the immunosuppressive agent, tacrolimus. CES1 plays a role in the metabolism of several drugs used in the treatment of common conditions, including hypertension, congestive heart failure, and diabetes mellitus; thus, there is a potential for clinically relevant drug-drug interactions. The findings in the present study may contribute to the prediction of such interactions in humans, thus opening up possibilities for safer drug
GEOMETRIC ERGODICITY AND QUASI-STATIONARITY IN DISCRETE-TIME BIRTH-DEATH PROCESSES

We study two aspects of discrete-time birth-death processes, the common feature of which is the central role played by the decay parameter of the process. First, conditions for geometric ergodicity and bounds for the decay parameter are obtained. Then the existence and structure of quasi-stationary distributions are discussed. The analyses are based on the spectral representation for the «-step transition probabilities of a birth-death process developed by Karlin and McGregor.
CHANGES IN ELECTROLYTES LEVEL OF CLARIAS GARIEPINUS (BURCHELL 1822) EXPOSED TO SUBLETHAL CONCENTRATIONS OF OILFIELD WASTEWATER

The electrolytic changes of twenty-eight adult Clarias gariepinus (Burchell, 1822), (mean weight 205 ± 12.89g SD; Mean length; 31.13 ± 3.82cm SD) exposed to sub-lethal concentrations (0, 10, 20, 30, 40, 50 and 60%) of an oilfield wastewater over a period of twenty eight (28) days were studied in a semi-static system. At the end of 28 days, tissue/organ and plasma samples were collected for electrolysis using standard methods. Insignificant (p≤0.05) fluctuations in electrolytes (sodium, potassium, chloride, calcium and bicarbonates ions) were observed in exposed fishes when compared to the control group. These fluctuations in electrolytes suggest the effort made by the fish to combat the stress imposed by the toxicant. The ions (electrolytes) are involved in regulation of osmotic changes in the fish and can be used to measure long term effect of C. gariepinus exposed to oilfield wastewater. The proper treatment of oilfield wastewater prior to discharge into the recipient water body is advocated to reduce ecotoxicological problems.