Miracle-dz/UniFAR-FTUs huggingface dataset:
The Value of Clawback Provisions

We examine whether the adoption of clawback provisions in executive compensation contracts improves the informativeness of accounting information. Contrary to conventional wisdom we find that clawbacks do not lead to improved financial reporting. Specifically, we document a significant decline in the market’s response to earnings surprises after the adoption of both fraud and performance based clawback provisions. In contrast, we find that the market’s reaction to earnings surprises reported by TARP firms after their mandatory clawback adoption is larger than it was in the three years prior to the adoption. In addition, there is evidence that voluntary adopters may be motivated to adopt clawback provisions by the recent occurrence of restatements. Taken together, our results provide a cautionary tale of how some types of clawbacks may produce an unintended consequence in terms of deteriorating the established relation between reported earnings and stock price. JEL Classification: M4, M12
VIDENCE FROM F IRM-SPECIFIC C RASH R ISK

I examine whether the balance sheet serves as a binding control mechanism that prevents managers from withholding bad news from outside investors. I predict that firms with bloated balance sheets are more likely to suffer stock price crashes. I use net operating assets scaled by total assets (NOA) as my proxy for balance sheet bloat; I use three measures of residual returns distribution to capture firm-specific crash risk: extreme negative outliers below the mean weekly returns (CRASH), negative skewness (NCSKEW), and down-to-up asymmetric volatility (DUVOL). While beginning NOA is negatively associated with next period CRASH, I find a positive relation between beginning NOA and NCSKEW as well as DUVOL before the Sarbanes-Oxley Act (SOX). NOA’s predicative power has largely dissipated since the passage of SOX. This finding is consistent with that in Cohen et al. [2008] that managers substitute away from accounting manipulation in response to the heightened outside monitoring in the post-SOX world. 1 I’m especially grateful to Professor Linda Vincent, my summer paper advisor, for her patient guidance and warm support. I also appreciate the guidance Professor Robert Magee gave to me while I was looking for research topics. I thank Professor Craig Chapman, Ronald Dye, Thomas Lys, James Naughton, Tjomme Rusticus, Swaminathan Sridharan, Anup Srivastava, Beverly Walther, Clare Wang, Wan Wong, Nir Yehuda, and Liangdong Zhang for their valuable insights and advices. I also appreciate the technical support from Andrei Jirnyi, Patricia Ledesma, and Wharton Research Data Services (WRDS) during the data management stage of my research. This study also benefits from the comments from the participants of fellow Ph.D. students at the Department of Accounting and Information Management as well as the Department of Finance at the Kellogg School of Management. This study is generously supported by the doctoral fellowship from the Accounting Research Center at the Kellogg School of Management. All remaining errors are mine. The author appreciates any comments or suggestions for improving this study. Electronic copy available at: https://ssrn.com/abstract=2503745 Electronic copy available at: http://ssrn.com/abstract=2503745 2
The Influence of Organizational on Organizational Performance Downsizing

Global headwinds of change have created a volatile, uncertain, competitive and ambiguous (VUCA) environment, which has perplexed business organizations now a days. With the backdrop of twisters like Global economic recession, Euro zone turmoil, Chinese recession and Brexit problem, organizations are nonplussed and are forced to reassess their business structures and strategies. Along with this the issues of fluctuating foreign exchange, fickle financial markets & soaring inflation are posing serious challenge to financial and operational issues in modern organizations. In an obscure scenario of weakening external demand, firms in IT sector especially, are striving hard to retain the foothold by arresting their soaring costs and plummeting profits. The fundamental assumption of 'consistency & congruence' for organizational performance are being blown to air and organizational downsizing has become the 'strategy of choice' for many of the big companies these days. The present study is about conflict & inconsistency arising from downsizing strategy adopted by Infosys which it considered as desirable process for organizational performance. The impact of 'convergence downsizing' on organizational performance, as well as employees' organizational citizenship behavior (OCB-O) and performance has been studied in this correlational research. Exploratory Factor Analysis Technique has been used to identify the factors like Civic Virtue and Sportsmanship indicating Organizational citizenship behavior (OCB-O) which affects the employees' and organizational performance. Cronbach Alpha, AVE, Square Root AVE have been used to measure Reliability and Validity of constructs, whereas the relationship between these has been studied by Correlation and Regression techniques. Certain financial ratios like Operating Profit ratio, ROA, ROS and Value Added per Employee have also been assessed to adjudge the organization's financial performance.
Alternatives for Telco Data Network: The Value of Spatial and Referral Networks for Churn Detection

ABSTRACT The value of communication network has received significant attention in the literature on churn prediction, while little is known about the potential business value of alternative networks. This knowledge would help telephone companies to make timely strategic decisions in our evolving economic environment where traditional communication technologies are declining. This study assesses to which extent two alternative networks might (1) structurally substitute this network and (2) complement this network for churn prediction within telephone companies.
Impact of land use types and soil depths on selected soil physicochemical properties in Fasha District, Konso Zone, Southern Ethiopia

Agricultural activities such as deforestation, continuous cultivation and intensive grazing cause deterioration of soil properties. This study was conducted with the objective to investigate the influence of land use types (cultivated, grazing and forest lands) and soil depths (0-15 and 15-30 cm) on soil properties. Eighteen composite soil samples were collected and analyzed using standard procedures and the data was subjected to statistical analysis software (SAS). The result showed the highest mean values of pH, OC, TN, C:N, AP, CEC and exchangeable bases (Ca, Mg, K and Na) under forest and grassland soils while the lowest values of these parameters were observed in cultivated soil. Clay content and bulk density of cultivated soil were significantly (P < 0.05) higher than uncultivated lands. The result also showed the significant (P < 0.05) decline of sand fractions, OC, TN, C:N and AP with soil depth while clay content, bulk density, and exchange bases (Ca, Mg, K and Na) significantly (P < 0.05) increased with soil depth. In general, the soil properties under the cultivated land are deteriorating compared to the soils under forest and grass lands. Therefore, to improve soil properties of cultivated soil, integrated implementation of conservative tillage, crop rotation, application of manures and residue addition to the land was suggested for the study area. Key words: Cultivated land, forestland, grassland, land use types, soil properties.
On the behavior of a ferrofluid-lubricated herringbone-grooved hybrid slot-entry bearing

The behavior of a slot-entry hybrid herringbone-grooved journal-bearing system lubricated with a ferrofluid lubricant has been numerically studied. The modified Reynolds equation of a ferrofluid bearing model based on the Stokes micro-continuum theory has been numerically solved by a finite-element method. A MATLAB code based on the Gauss–Seidel iteration scheme has been solved to numerically simulate the bearing performance. The simulated results reveal that the use of a ferrofluid lubricant provides enhanced values of lubricant film thickness, fluid film stiffness/damping coefficient, and better stability threshold speed.
ENERGY EFFICIENCY OF INDONESIA’S SUGAR INDUSTRY BASED ON ECONOMIC FRAMEWORK: STOCHASTIC METAFRONTIER ANALYSIS

This study investigates the efficiency of energy use and technology gap in the Indonesian sugar industry and the factors influencing energy efficiency. Using the firm-level data of sugar mills in 42 regencies in Indonesia from 2010 to 2014, this study applies the meta stochastic frontier based on the input distance function. The metafrontier analysis is applied in sugar mills in the East Java province and other provinces in Indonesia. All the data used in this study are the secondary data taken from the Indonesian Central Board of Statistics. The results reveal that there is a large room to save energy consumption in this industry. The mills in East Java provinces have higher energy efficiency, technology gap ratio, and metafrontier energy efficiency compared to the mills in other provinces. According to the metafrontier energy efficiency, energy inefficiencies in both groups come from operational inefficiency and technology gap. The size of the mills and age of the mills have a positive relationship with the energy efficiency of sugar mills and the size of the mills is positively related to the technology gap ratio. Meanwhile, the productivity of labor and the types of ownership do not affect the energy efficiency and technology gap.
Developing Brain-Strain-Based Scaling to Inform the Clinical Relevance of Mouse Models of Concussion Induced by Rotation

Background Laboratory animal experiments are an invaluable tool for studying mild traumatic brain injury (mTBI)/concussion. Among them, rodent neurotrauma experiments have been most widely used, as transgenic and gene targeting technologies in mice allow us to test the roles of different genes in recovery from brain injury. Furthermore, the clinical relevance of rodent concussion studies can be improved by using these technologies to study concussions in animals that carry the human versions of genes known to play a role in neurological disease. However, delivering concussion injuries to the mice that are relevant to real-world human head impacts is challenging, as the mouse and human heads are dramatically different in shape and size. In the vast majority of mouse concussion experiments, the pathological and behavioral consequences of the injuries are evaluated without considering whether the injury model produces brain stretches (maximum principal strains) of the same magnitude as those experienced by human brains undergoing similar impacts. Methods We conducted a total of 201 computational simulations to understand both human and mouse brain strains that are directly linked to neuronal damage during closed-head concussive impacts. To represent real-world human head impacts we simulated mouse head impacts with durations of 1.5 ms (Type 1 scaling), followed by simulations with durations between 1 and 2 ms (Type 2), and finally, simulations with durations from 0.75 to 4.5 ms (Type 3) to develop scaling between human and mouse, as well as to reveal the predicted effects of small and large changes in impact durations on brain strain. Results Guided by these simulations we calculated that peak rotational velocities in mice could be achieved by scaling human peak rotational velocities with factors of 5.8, 4.6, and 6.8, for flexion/extension, lateral bending, and axial rotation, respectively, to reach equal brain strains between human and mouse. The effects of impact durations on scaling were also calculated and longer-duration mouse head impacts needed larger scaling factors to reach equal strain. Conclusions The scaling method will help us to create brain injury in the mouse with brain strain loading equivalent to those experienced in real-world human head impacts.
SOCIAL MEDIA INFLUENCER, BRAND AWARENESS, AND PURCHASE DECISION AMONG GENERATION Z IN SURABAYA

Many restaurants and cafes used Social Media Influencer (SMI) services to promote their products/ services. The three dimensions of SMI included reach, relevance, and resonance; and these can influence brand awareness and purchase decision of Generation Z consumers. This study involved 108 respondents and used SPSS and Partial Least Square (PLS) as software programs to analyze data using multivariate analysis. The results of this study indicated that reach, relevance and resonance of SMI had positive and significant influences on brand awareness. Reach had positive but insignificant influence on purchase decisions; whereas, relevance and resonance had positive and significant influences on purchase decision. Finally, brand awareness had positive but insignificant influence on purchase decision of Generation Z to restaurants and cafes in Surabaya.
Using Near-Infrared Spectroscopy in Agricultural Systems

This chapter provides a review on the state of art of the use of the visible near-infrared (vis-NIR) spectroscopy technique to determine mineral nutrients, organic compounds, and other physical and chemical characteristics in samples from agricultural systems— such as plant tissues, soils, fruits, cocomposted sewage sludge and wastes, cereals, and forage and silage. Currently, all this information is needed to be able to carry out the appropriate fertilization of crops, to handle agricultural soils, determine the organoleptic characteristics of fruit and vegetable products, discover the characteristics of the various substrates obtained in composting processes, and characterize byproducts from the industrial sector. All this needs a large number of samples that must be analyzed; this is a time-consuming work, leading to high economic costs and, obviously, having a negative environmental impact owing to the production of noxious chemicals during the analyses. Therefore, the development of a fast, environmentally friendly, and cheaper method of analysis like vis-NIR is highly desirable. Our intention here is to introduce the main fundamentals of infrared reflectance spectroscopy, and to show that procedures like calibration and validation of data from vis-NIR spectra must be performed, and describe the parameters most commonly measured in the agricultural sector.
Capacity of Quercus robur L. and Tilia cordata Mill. trees in providing urban ecosystem services in boreal climate

<p>Trees play an important role in urban ecosystem functioning and providing many ecosystem services, in particular, water and energy balance regulation. Consequently, trees can be a tool to mitigate to run-off and heat island effect in urban areas. We quantified the possibility of urban trees to provide these ecosystem services in the northernmost city with a million population &#8211; St. Petersburg (59&#176;57&#8242; N / 30&#176;19&#8242; E; Russia). Two diffuse-porous tree species &#8211; Quercus robur L. (n=2) and Tilia cordata Mill. (n=4) &#8211; were chosen for the research. These tree species are the most common in the green infrastructure of the city despite they are not typical for this biome, i.e. south taiga. During two growing season (July-Oct. 2019, April-Oct. 2020), tree sap flux was measured by thermal dissipation method using TreeTalker device (Nature 4.0 Corp., Italy). Sap flux density (Js) was calculated with modified Granier&#8217;s empirical calibration equation. Energy loss through tree transpiration was estimated from sap flux per tree (Js &#215; sap wood area) and latent heat of vaporization. For the entire observed period, average daily<strong> </strong>Js (24 h) of Q. robur trees were almost two times higher than T. cordata trees (3.46 vs. 1.91 g cm<sup>-2</sup> h<sup>-1</sup>). Importantly, for Q. robur Js significantly decreased with increasing tree age (from 3.75 to 1.99 g cm<sup>-2</sup> h<sup>-1</sup> with age alteration from 145 to 350 yrs.), while for T. cordata it did not change (1.74 and 1.69 g cm<sup>-2</sup> h<sup>-1</sup> for 60-80 and 100-115 yrs.). Q. robur showed a significant higher daily energy loss through tree transpiration compared to T. cordata (618 and 396 W tree<sup>-1</sup> with 100-108 diameter at breast high) for the studying period. Thus, Q. robur compared to T. cordata was more effective in providing water regulation services, especially in shallow groundwater table typical for St. Petersburg. Moreover, this tree species also has a higher capacity in mitigate to urban heat island effect. </p><p>Current research was financially supported by Russian Science Foundation, No 19-77-30012. </p>
Reexamining Different Factors of the Resonance-Enhanced High-Order Harmonic Generation in Atomic and Nanoparticle Laser-Induced Tin Plasmas

We reexamine the resonance enhancement of a single harmonic emission during the propagation of ultrafast pulses through atomic and nanoparticle tin-containing laser-induced plasma (LIP). We compare the single atomic Sn and Sn nanoparticle plasmas to demonstrate a distinction in the enhancement factor of the single harmonic in the case of fixed and tunable near-infrared pulses. The analysis of the dynamics of Sn LIP shows the range of optimal delays between heating and driving pulses (130–180 ns), at which the maximal harmonic yield can be achieved. The enhancements of the 17th and 18th harmonics of 806 nm pulses were analyzed in the case of single-color and two-color pumps of LIP, showing up to a 12-fold enhancement of even harmonics in the two-color pump case. We show the enhancement of a single harmonic in the vicinity of the 4d105s25p2P3/2→4d95s25p2 transitions of Sn II ions and demonstrate how this process depends on the constituency of the plasma components at different conditions of target ablation. The application of tunable (1280–1440 nm) radiation allows for demonstrating the variations of single harmonic enhancement using a two-color pump of Sn-containing LIP.
The impact of a native dominant plant, Euphorbia jolkinii, on plant–flower visitor networks and pollen deposition on stigmas of co‐flowering species in subalpine meadows of Shangri‐La, SW China

Anthropogenic activity can modify the distribution of species abundance in a community leading to the appearance of new dominant species. While many studies report that an alien plant species which becomes increasingly dominant can change species composition, plant–pollinator network structure and the reproductive output of native plant species, much less is known about native plant species which become dominant in their communities. Euphorbia jolkinii Boissier (Euphorbia, hereafter) has become a dominant native plant in the over‐grazed meadows of Shangri‐La, SW China. During the flowering season of Euphorbia and over 2 years, we quantified the impact of Euphorbia on plant richness and flower visitor richness in 12 subalpine meadows along a gradient of Euphorbia dominance. We also evaluated the floral preferences of flower visitors, interaction evenness of plant–flower visitor networks and the deposition of pollen on the stigmas of two co‐flowering plant species (Gentiana chungtienensis and Anemone rupestris) in each meadow. The species richness of flower visitors to non‐Euphorbia plants was negatively correlated with Euphorbia dominance. As the proportion of Euphorbia increases, flower visitors to Euphorbia decreased, while flower visitors to other co‐flowering plants increased. Interaction evenness decreased as the proportion of Euphorbia increased. Furthermore, the conspecific pollen deposition of one of the two co‐flowering plant species studied, G. chungtienensis, decreased as the proportion of Euphorbia increased. Synthesis. There appears to be little substantive difference between the impact of a newly dominant native plant and the impacts reported for many alien plants on native plant–pollinator communities. This lack of difference suggests that dominance, in addition to plant origin (alien vs. native), could play an important role in influencing the structure and functioning of native communities. This finding has considerable implications for restoration ecology. Thus, communities where natural dominance order has been changed due to anthropogenic activity may not be considered a problem as all the species are native—in reality though, they may be as damaged as communities invaded by alien species.
An application of a complex measure to model–based imputation in business statistics1

Abstract When faced with missing data in a statistical survey or administrative sources, imputation is frequently used in order to fill the gaps and reduce the major part of bias that can affect aggregated estimates as a consequence of these gaps. This paper presents research on the efficiency of model–based imputation in business statistics, where the explanatory variable is a complex measure constructed by taxonomic methods. The proposed approach involves selecting explanatory variables that fit best in terms of variation and correlation from a set of possible explanatory variables for imputed information, and then replacing them with a single complex measure (meta–feature) exploiting their whole informational potential. This meta–feature is constructed as a function of a median distance of given objects from the benchmark of development. A simulation study and empirical study were used to verify the efficiency of the proposed approach. The paper also presents five types of similar techniques: ratio imputation, regression imputation, regression imputation with iteration, predictive mean matching and the propensity score method. The second study presented in the paper involved a simulation of missing data using IT business data from the California State University in Los Angeles, USA. The results show that models with a strong dependence on functional form assumptions can be improved by using a complex measure to summarize the predictor variables rather than the variables themselves (raw or normalized).
Intercropping-induced shifts in root microbiota promote lead phytoremediation properties of Sonchus Asper

Intercropping or assistant-endophytes has been proven to promote phytoremediation capacities of hyperaccumulators and to enhance their tolerance to heavy metals (HM) stress. We initially showed that intercropping with maize improved the remediating properties of the hyperaccumulator Sonchus asper (L.) Hill grown in HM contaminated soils, accompanied by an excluder - to- hyperaccumulator switched mode of action towards lead. To characterize molecular events underlying this shift in lead extraction strategy, we conducted an RNA-Seq analysis on Sonchus roots grown in intercropping or monoculture. We show that intercropping only slightly affects the S. asper transcriptome, but dramatically impacts the expression of root associated microbial genomes. Further, intercropping triggers a severe reshaping of endophytic communities which accompanies a “root-to-shoot” transition of lead sequestration and improved phytoremediation capacities of S. asper. This study provides the clue that a unitive network of plant- microbial -plant interactions may participate to the phytoremediation abilities of hyperaccumulator plants and paves the path for innovative cultural practices aiming to cure polluted soils.