Miracle-dz/UniFAR-FTUs huggingface dataset:
Asymmetry in Liquidity Pricing in the Cross-Section and Time Series of Corporate Bond Returns

Asymmetry in price pressure from seller versus buyer-initiated transactions is a valuable measure of downside liquidity for corporate bonds. Larger relative price impact of sellers can exacerbate market downturns in flight-to-liquidity environments. While the evidence of an illiquidity characteristics premium in the cross-section of corporate bonds is mixed, aggregate liquidity asymmetry has high explanatory power for the time series of market returns. Its statistical and economic significance justify it as credible asset pricing factor. Average market-wide liquidity asymmetry comoves with interest rate and credit spread changes, investor sentiment, funding liquidity, dealer inventory, ETF flows and post-crisis regulatory change.
The distribution of the Egyptian Mongoose Herpestes ichneumon (L.) in Portugal

The current range and relative abundance of the Egyptian Mongoose Herpestes ichneumon (L.) in Portugal were studied using data obtained through direct field observations, personal communications and answers to enquiries. The present northern limit of its distribution has extended well beyond the Tagus River in most of its Portuguese range, indicating a probable expansion in recent years. A consistent increase in abundance was detected from north to south, latitude being highly correlated with computed indices of Mongoose abundance. The best-fit model for predicting Mongoose relative abundance in the country considers latitude and human population density simultaneously. Altitude is the only environmental variable significantly correlated with the Mongoose abundance once the influence of latitude is discounted. Available information appears to indicate that the Portuguese Mongoose population is increasing, nevertheless research is needed in order to assess the impact of current predator control schemes on local populations.
Examination of Information Release on Return Volatility: A Market and Sectoral Analysis

This paper examines the role of information release in explaining return volatility in Australian equities. The study utilised proxies of greater accuracy than have previously been used to examine the effect of private and public information on return volatility. Analyst price targets (PTR) and Morningstar stock star ratings (MSR) were proxies for private information and Australian Securities Exchange (ASX) announcements was a proxy for public information. Analysis was conducted at both the aggregate market level and the sectoral levels. Sectoral analysis is important because Australia operates as a ‘two-speed economy’ in which some sectors perform higher than others. The limited number of studies that highlight this distinction warranted the need to perform this study. Data was collected for ASX 200–listed firms for the period 2013 to 2017. The findings provide insights into how information disclosures instigate varied volatility within the entire market and across sectors. The results also suggest that PTR have the largest effect on return volatility at both the aggregate market and the sectoral levels, thereby further indicating that investors rely heavily on this information when undertaking investment decisions. In contrast, MSR had a negligible effect, which is likely due to the lower degree of informational content. Although investors rely on these information proxies, they do not realise the diverse effect that each private information proxy has on sectoral return volatility. Public information has a minor effect on return volatility at both the aggregate market and sectoral levels. These mixed results indicate that information flow varies depending on the information type (i.e. private or public) with each sector interpreting the same information differently, as highlighted by the varying levels of volatility. The research findings provide a valuable guide to investors regarding the appropriate information proxy to generate excess returns as well as to hedge against future losses.
Can Wealth Buy Health? A Model of Pecuniary and Non-Pecuniary Investments in Health

In this paper we develop and estimate a life cycle model that features pecuniary and non-pecuniary investments in health, along with a cognitive ability gradient associated with said investments, in order to rationalize the socioeconomic gradients in health and life expectancy in the United States. Agents accumulate health capital, which affects the level of utility, labor productivity, the distribution of medical spending shocks and life expectancy. We find that the cognitive ability gradient to health investments and the differences in lifetime income account for the lion's share of the observed life expectancy gap. Providing universal health insurance coverage has heterogeneous effects, depending on the progressivity of the financing mechanism, and at best results in a modest decrease in the life expectancy gap.
Production and field evaluation of a Granulosis Virus for control of Sesamia cretica Led. (Lep., Noctuidae) in maize fields in Egypt

Pilot field trials were conducted against Sesamia cretica Led. using a Granulosis Virus recently isolated from the corn borer infesting maize at Kafr El‐Sheikh Governorate. The efficacy of spray application of ScGV was compared with the currently recommended chemical insecticides (Methomyl and Monocrotophos) as two different control strategies against S. cretica larvae on maize. The viral insecticide is a highly purified suspension of granules in water plus 10% molasses as a sticker as well as a feeding stimulant additive. The spray containing 0.1 g of granules/1 (i.e. 1.48 × 1010I.B./ml) was applied twice at the rate of 1.25 and 2.5 1/0.01 feddan (1 feddan = 4200 m2) at 2 week intervals, starting 3 weeks after sowing. For the chemical insecticides, the methomyl was applied at the same time as the ScGV suspension against S. cretica larvae, and the monocrotophos was applice twice, 2 months after sowing, and 2 weeks later, against Ostrinia nubilalis and Chilo agamemnon larvae. All treatments were made using a portable knapsack sprayer. Additional plots were left as control. Results revealed that both tested treatments (microbial and chemical insecticides) noticeably reduced the numbers of S. cretica larvae. Regarding yield, the mean weight of seeds was higher for the plots which were treated with either virus or insecticide than untreated ones. However, the chemical insecticide treatment was more effective than the formulated virus treatment. The corrected yield in ardab (1 ardab = 145 kg)/feddan were 20.11, 16.04 and 12.79, for chemical insecticide, viral insecticide and control treatments, respectively. It is concluded that ScGV seems to be pathogenic to the field population of S. cretica and may be considered a promising biocontrol agent to support the Integrated Pest Management Programme of such an important corn borer.
Pension Contributions and Tax-Based Incentives: Evidence from the TCJA

We document that corporate pension contributions respond to tax-based incentives using the 2017 Tax Cut & Jobs Act (TCJA) as a natural experiment. The TCJA cut the U.S. federal corporate tax rate, temporarily increasing contribution incentives for sponsors of defined-benefit retirement plans. We exploit cross-sectional variation in ex-ante exposure to these incentives. We find that the tax break induced an extra $3 billion of sponsor contributions to medium- and large-scale plans in 2017. But we also find strong evidence of a reversal, both in terms of sponsor contributions and plan funding ratios by 2018. We find no evidence of impact on plan asset allocations. Our results suggest that the TCJA did not have a long-lasting impact on corporate defined-benefit pension funds.
Enzymatic Control of Soluble Carbohydrate Accumulation in Cold-Acclimated Crowns of Alfalfa

Sucrose and the raffinose family of oligosaccharides (RFO), stachyose and raffinose, accumulate in crowns of alfalfa (Medicago sativa L.) during low temperature acclimation. In vitro and in vivo evidence from the literature suggests that these sugars might have important adaptive roles in freezing tolerance. To better understand the regulation of cold-induced accumulation of soluble sugars, we measured the activity of key regulatory enzymes involved in the metabolism of sucrose and RFO in crowns of three alfalfa cultivars of contrasting winterhardiness which had been acclimated to winter conditions. Both sucrose-phosphate synthase (SPS) and galactinol synthase (GS) showed markedly higher activity at low temperature. There was a close relationship between the activities of SPS and GS and the levels of sucrose and RFO, respectively. A delay of approximately 2 wk was observed between the rise in GS activity and RFO accumulation. For both SPS and GS, the increase in activity occurred earlier and reached higher levels in two winter hardy cultivars than in a nonhardy cultivar. In contrast, the activity of the RFO degrading enzyme alpha-galactosidase (α-gal) was identical in all cultivars. The activity of sucrose synthase (SS), mainly involved in sucrose hydrolysis, decreased during fall acclimation. In cold-acclimated alfalfa, both acid and neutral invertase activities were low and comparable in all cultivars. Our results indicate that differential accumulation of soluble sugars between alfalfa cultivars of contrasting winterhardiness is the result of differences in synthetic capacity rather than differences in hydrolytic activities.
Baby steps: the gender division of childcare during the COVID-19 pandemic

Abstract The nature and scale of the shocks to the demand for, and the supply of, home childcare during the COVID-19 pandemic provide a unique opportunity to increase our understanding of the division of home labour and the determinants of specialization within the household. We collected real-time data on daily lives to document the impact of measures to control COVID-19 on UK families with children under the age of 12. We document that these families have been doing the equivalent of a working week in childcare, with mothers bearing most of the burden. The additional hours of childcare done by women are less sensitive to their employment than they are for men, leaving many women juggling work and (a lot more) childcare, with likely adverse effects on their mental health and future careers. However, some households, those in which men have not been working, have taken greater steps towards an equal allocation, offering the prospect of sharing the burden of childcare more equally in the future.
Labor Mobility and Antitakeover Provisions

Abstract How do firms protect their human capital? We test whether firms facing an increased threat of being acquired strengthen their antitakeover provisions (ATPs) in order to bond with their employees. We use the adoption of the Inevitable Disclosure Doctrine (IDD) by US state courts, which exogenously decreases knowledge-worker mobility, thus elevating takeover risk and reducing employee incentives to innovate. Firms respond to the IDD adoption by strengthening ATPs that defend against hostile takeovers, especially when they have greater ex-ante employee mobility and human capital and place greater importance on employee relations. We find no evidence that managers strengthen ATPs for entrenchment or takeover bargaining purposes in this setting. Our findings show that ATPs can be used to credibly commit to employees in order to protect long-term value creation.
Multidimensional Corporate Governance: Board Design, Executive Compensation, and Information Sharing

Corporate governance is a multidimensional construct, with many interactive mechanisms that must be simultaneously managed for efficiency. We develop a model where multiple governance mechanisms (board independence, board expertise, and CEO equity incentives) are endogenously selected to encourage information sharing by the CEO, which in turn optimizes the board’s ability to monitor and advise the CEO’s project selection. In equilibrium, we find that boards with greater independence also have higher expertise; board expertise and equity incentives are substitutes (complements) when the board has high (low) independence; and equity incentives may be positively or negatively related to board independence, depending on the benefit of expert advice. The analysis offers new predictions about the correlations between board independence, board expertise, and incentive compensation.
Female Leadership and Bank Performance in Latin America

Abstract This paper examines the relationship between gender diversity in corporate boards and executive positions and bank risk and performance in Latin America. Our sample covers 91 individual banks during 2000–2017. Our results suggest that banks with a higher proportion of female executives tend to have lower Z-scores than male-led banks. However, female-led banks are more profitable. Our results provide new information related to the debate on the relationship between gender-based behavioural differences and financial decisions by showing that Latin American banks with a higher proportion of female executives are riskier and more profitable than male-led banks. Given the impact of bank performance on the international economy, the global interconnection of financial institutions, and the lack of legal protection in this region, it is of interest for regulators and policy makers to analyse possible sources of better performance and governance in Latin American banks.
Aggregate Demand and Aggregate Supply Effects of COVID-19: A Real-time Analysis

We extract aggregate demand and supply shocks for the US economy from real-time survey data on inflation and real GDP growth using a novel identification scheme. Our approach exploits non-Gaussian features of macroeconomic forecast revisions and imposes minimal theoretical assumptions. After verifying that our results for U.S. post-World War II business cycle fluctuations are largely in line with the prevailing consensus, we proceed to study output and price fluctuations during the COVID-19 pandemic. We attribute two thirds of the decline in 2020:Q1 GDP to a negative shock to aggregate demand. In contrast, regarding the staggeringly large decline in GDP in 2020:Q2, we estimate two thirds of this shock was due to a reduction in aggregate supply. Statistical analysis suggests a slow recovery due to a persistent effects of the supply shock, but surveys suggest a somewhat faster rebound with a recovery in aggregate supply leading the way.
Freshwater ecology in the Mato Grosso, Central Brazil, IV: Associations of testate Rhizopoda

Summary Samples from five meander lakes in the valley of the Rio Suia Missu and from the Rio das Mortes at Xavantina, contained a total of 43 species of testate rhizopods, including a new genus with a complex multiporate mouth. Only one of the species is restricted to S. America in its known distribution. Analysis of the associations in the samples revealed that they were inadequate for inter-lake comparisons, and that the samples were representative of more restricted habitats. A comparison of the total list of species with the known fauna of the River Sokoto in Nigeria gave a higher index of similarity than any of the inter-lake comparisons in the Suia Missu. This is taken as an indication of the existence of an association that might be widespread in tropical riverine meander-lake systems.
Circadian rhythms of plasma lipid and protein levels in daytime food-restricted rats

The present study aims to investigate the effect of daytime food restriction (from 20:00 to 08:00 h) for 21 days to Wistar rats on 24-h rhythms of plasma cholesterol, triglycerides, free fatty acid, phospholipids, and total protein. Daytime food restriction was found to cause acrophase delays in cholesterol, triglycerides, free fatty acid, phospholipids, and total protein rhythms. Mesor values of these rhythms were found to be decreased during daytime food restriction. Altered amplitude and r values were also found in daytime food-restricted rats. These circadian alterations during daytime food restriction clearly indicate that it could cause modulated temporal endocrine profile and biochemical profile related to digestion, absorption and metabolism.
Mandibles with two joints evolved much earlier in the history of insects: dicondyly is a synapomorphy of bristletails, silverfish and winged insects

The evolution of two‐jointed mandibles is considered to be a major step during the evolution of early insects enabling the exploration of new types of food. Two‐jointed – or dicondylic – mandibles are believed to be a groundplan characteristic for winged insects and silverfish. Jumping bristletails are thought to possess mandibles with one joint and are the sistergroup of winged insects + silverfish. However, our knowledge of the cephalic morphology of bristletails is limited to data from a few species and thus fragmentary. We investigated the cephalic morphology of both families of bristletails, Meinertellidae and Machilidae. We focused on skeletal elements and the musculature and compared them with the corresponding structures found in silverfish and winged insects. Bristletails show a previously unknown coupling structure between the maxillary palps and the mandibles and an additional anterior articulation of the mandibles in the region of the anterior tentorial pits. The articulation can be homologised with the anterior articulation in silverfish and winged insects. Together with a description of the functional morphology of the mandible system of bristletails and a discussion of the homology of mandibular articulations and related characters, we provide conclusive evidence that bristletails are, in fact, dicondylic insects.
Non-Gravity Trade

This paper examines the relationship between countries’ bilateral trade with the United States that is not due to gravity (non-gravity trade) and the distribution of income within countries. In countries where only a small share of the population are educated, an increase in non-gravity trade is associated with a significant increase in income inequality. As education of the population increases the correlation between non-gravity trade and income inequality becomes smaller. Non-gravity trade has no significant effect on income inequality in countries that are world leaders in education.
Influence de l'anhydrobiose sur l'infestation de Biomphalaria glabrata par un miracidium de Schistosoma mansoni

410 Biomphalaria glabrata (Caribbean strain of Guadeloupe) have been infected with one miracidium of Schistosoma mansoni, 110 snails, used as controls have been kept into water; the survival rate was 96.4% after 4 weeks and 25.4% produced cercariae. 300 snails were kept on wet soil, and submitted for 6 weeks to progressive desiccation. The survival rate was 23.4% but only 9 of them produced cercariae. Periodic variations of the production of male and female larvae have been shown by the weekly test of the cercariae productions. In previously desiccated snails, the production of male and female cercariae is similar while in controls the production of female larvae is more important. In experimental snails, the larval development seems to be stopped during anhydrobiosis. The production of cercariae is just delayed for the length of the dry keeping.
Efficacy of Vermicompost and Conventional Compost on Growth and Yield of Cauliflower

An experiment was conducted at experimental field of the Soil Science Division, Bangladesh Agricultural Research Institute, Gazipur, Bangladesh during the period from October 2008 to March 2009 to study the effect of vermicompost and conventional compost on the growth and yield of cauliflower. The experiment comprised of twelve treatments viz. T1: 100% Recommended Dose of Chemical Fertilizer (RDCF; RDCF= N250P35K65S40 Zn5B1 kgha-1); T2: 80% RDCF; T3: 60% RDCF; T4: 100% RDCF+Vermicompost @ 1.5 tha-1; T5: 80% RDCF+Vermicompost @ 3 tha-1; T6: 60% RDCF+Vermicompost @ 6 tha-1; T7: Vermicompost @ 6 tha-1; T8: 100% RDCF+Conventional compost @ 1.5 tha-1; T9: 80% RDCF+Conventional compost @ 3 tha-1; T10: 60% RDCF+Conventional compost @ 6 tha-1; T11: Conventional compost @ 6 tha-1 and T12: Control (No fertilization) following Randomized Complete Block Design with three replications. Maximum plant height (49.4 cm), number of leaves plant-1 (16.3), circumference of curd (46.5 cm), curd height (20.7 cm), total weight (1.60 kg plant-1), marketable weight (13.0 kg plant-1), curd yield (37.6 tha-1) and stover yield (29.7 tha-1) were found from T4 which was statistically identical with or followed by T8 and T5. From the experiment it was found that vermicompost was better that conventional compost in combination with chemical fertilizers.
Population biology of Ilyoplax stevensi (Brachyura : Ocypodidae) on a Kuwait mudflat

The ocypodid Ilyoplaxstevensiwas sampled every 6 wk between May 1988 and March 1989 in the upper eulittoral of a mudflat in Sulaibikhat Bay, Kuwait. A total of 770 males and 765 females of 2.5 to 10 mm carapace width (CW), were collected. CW frequency data indicated that instar number was either variable, or fixed with widely overlapping size ranges, and that 4.75 to 6.25 mm (an increment of 31.5 %) was the puberty moult in males and in a proportion of females. There was a significant male bias in the pre-pubertal size class and a female bias in the main ovigerous classes (7 to 8 mm). Overall 36 % of the females were ovigerous; ovigerous females were present throughout the year, but in significantly higher proportions in September to March. Density and biomass were also significantly higher in winter which was therefore the ecologically active season, contrary to the normal cycle of warm temperate species.
Fecundity in the western rock lobster Panulirus longipes cygnus (George) (Crustacea: Decapoda: Palinuridae)

Samples of egg-bearing females of P. longipes cygnus (George) were taken from the Abrolhos Islands, Fremantle, and Jurien Bay areas and divided into two groups (viz. "newly spawned" or "late stage") depending on the extent of development which had taken place in the eggs. The number of eggs carried by each individual was then counted. Fecundity is found not to vary significantly (at the 10% level) between the three localities, and so all localities are combined to give pooled estimates of fecundity for newly spawned and late stage eggs. A small amount of egg loss occurs during incubation, but this is not significant at the 10% level. The percentage of infertile eggs is shown to be independent of carapace length. A linear relationship between carapace length and number of eggs produced is found for P. longipes cygnus, and this type of relationship appears to hold for many of the members of the family Palinuridae in contrast to the non-linear relationship found in the Homaridae.