Miracle-dz/UniFAR-FTUs huggingface dataset:
S&P 500 Affiliation and Stock Price Informativeness

Abstract When firms are added to a stock index, more information should be discovered, traded on, and incorporated into their stock prices, making them more informative. We test this hypothesis using a large sample of additions to the S&P 500 index. Using two alternative statistical tests, we find that the stocks added experience more random, less predictable return and, thus, appear to be priced more efficiently information-wise. We further find concurrent increases in institutional ownership and investor awareness, which tend to contribute to the higher pricing efficiency, adding to the literature. These findings should be of interest to academics and practitioners.
Collaboration and Co-creation in Regional and Remote Education: Case Studies from Initial Teacher Education Programs

Education policies and practices developed for urban populations are not always effective when implemented in regional and remote locations. Despite government policy initiatives that may provide for collaboration across communities, a singular issue is that a diversity of solutions may be required rather than a ‘one size fits all’ approach. This article presents a potential solution to this problem through engaging collaboration and co-creation to optimise educational opportunities in initial teacher education in Australia. Qualitative analysis of a collaborative and co-created process of enhancement, lesson development and reflection brings together the every-day problem-solving processes used by preservice teachers and classroom students with those used by research scientists and community experts. A consequence of such a process that benefits regional and remote communities is the development of collaborative networks founded in cocreation of educational opportunities and based on daily life in local communities.
An Exploration of Technology Leadership in Three Maine Public School Districts

The promise of technology for positively influencing student outcomes is being hampered by a lack of understanding of who is leading technology in public schools and differing beliefs of technology use among technology leaders. The purpose of this qualitative multi-case study was to describe and understand the nature of technology leadership in three Maine public school districts. Research questions explored the roles, responsibilities, values, and beliefs of the technology leaders and examined how technology leaders mobilized stakeholders in using technology to positively influence student outcomes. Fifteen participants were interviewed from across three case sites. Data analysis was guided by the conceptual framework using a “bottom-up” inductive approach. From the results of the study, technology leadership is defined as the enactment of a shared vision for learning with technology that: incorporates the values and beliefs of the technology leaders, teachers, and staff; utilizes a leadership framework where all technology leaders can lead in an atmosphere of trust; and uses adaptive leadership strategies (Heifetz, 1994) to mobilize technology leaders, teachers, and staff in using technology for the enhancement of student learning.
Leadership in policing : serving others to serve society

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The Moral Foundations of Public Engagement: Does Political Science, as a Discipline, Have an Ethics?

In recent years, the discipline of political science has been the focus of extensive criticism from observers based both within and beyond the academy. This is reflected in a sizable number of scholars who have called for the discipline to recognize its obligations to the public, and especially to supporting active citizenship, promoting democratic participation and addressing major social challenges. This emphasis on ‘making political science matter’ has also been stressed beyond the academy as funders, politicians and potential research-users place ever-greater emphasis on incentivizing and rewarding ‘impact’, ‘relevance’ and demonstrable ‘public value’. The central argument of this article is that what has been missing from this debate is any sense of clarity around whether what is being demanded is greater engagement by political science as a discipline or greater engagement by political scientists as individuals. This raises distinctive questions about the moral foundations and professional ethics of political science which we explore not through a traditional focus on defending or sustaining liberal democracy but through a deeper and more subtle emphasis on the praxis of ‘doing’ political science.
Abnegation, accommodation and affirmation: Three discursive modes for the institutional construction of independence among national news agency executives in Europe

The relationship between the ownership form of news agencies and their independence has long figured centrally in debates about the quality of news agency operations. Drawing on a discursive institutional framework, this article explores how national news agency executives in Europe perform a narrated role in the discursive construction of their organizations’ internal and external independence. We set out the concept of independence discourse, which we define as the variety of ways in which news agency executives use claims about the economic independence and the internal and external autonomy of their organizational operations. Based on a discourse analysis of elite semi-structured interviews with 20 European news agency executives, we identify three discursive modes for the institutional construction of independence: (1) abnegation, (2) accommodation and (3) affirmation. These discursive modes represent a set of public and private approaches to discursively negotiating the power of both state/government and shareholders/owners. We conclude by arguing for an expanded concept of independence, one which offers an account of the complex array of forces shaping news agency operations today.
A Bargaining Theory of Political Bias and War: Case Study of the BJP

Economic theorizations of political bias and war as laid out in Bargaining Theory (Jackson and Morelli 2007; Anderton and Carter 2009) have demonstrated that a political leadership’s penchant for war may be much higher than that of the people they represent, and the calculus of war for internal political gains can spur them on to inter-state violence. To put this assertion to the test, this working paper examines the BJP under Narendra Modi as instigator of the Pulwama War and the India-Pakistan standoff of 2019. The findings of the working paper indicate that the BJP government’s expediency of war conforms to, and resonates with, the bargaining theory of political bias and war, as theorized in the game-theoretic economic literature.
Harvesting Prosperity: Technology and Productivity Growth in Agriculture

This is the Preliminary Version for a book expected in November 2019. This book documents frontier knowledge on the drivers of agriculture productivity to derive pragmatic policy advice for governments and development partners on reducing poverty and boosting shared prosperity. The analysis describes global trends and long-term sources of total factor productivity growth, along with broad trends in partial factor productivity for land and labor, revisiting the question of scale economies in farming. Technology is central to growth in agricultural productivity, yet across many parts of the developing world, readily available technology is never taken up. We investigate demand-side constraints of the technology equation to analyze factors that might influence producers, particularly poor producers, to adopt modern technology. Agriculture and food systems are rapidly transforming, characterized by shifting food preferences, the rise and growing sophistication of value chains, the increasing globalization of agriculture, and the expanding role of the public and private sectors in bringing about efficient and more rapid productivity growth. In light of this transformation, the analysis focuses on the supply side of the technology equation, exploring how the enabling environment and regulations related to trade and intellectual property rights stimulate Research and Development to raise productivity. The book also discusses emerging developments in modern value chains that contribute to rising productivity. This book is the fourth volume of the World Bank Productivity Project, which seeks to bring frontier thinking on the measurement and determinants of productivity to global policy makers.
Understanding emotional customer experience and co-creation behaviours in luxury hotels

Purpose A holistic understanding of sources that evoke customer emotions is essential for creating a positive emotional customer experience (ECX). Despite a significant focus on the cognitive aspect of customer experience and traditional customer behaviours (e.g. loyalty and satisfaction), limited attention has been paid to ECX and co-creation behaviours. The purpose of this paper is to address this important knowledge gap by identifying different emotions and prominent sources of ECX (i.e. emotion triggers and constructors) during service interactions. By doing so, key customer co-creation behaviours are also identified, which help enhance positive customer experience. Design/methodology/approach A combined application of the appraisal theory and thematic analysis was used to explore ECX, its sources and co-creation behaviours as observed from 1,063 TripAdvisor customer reviews of luxury hotels in Ireland. Findings The results show that a single service interaction can evoke multiple emotions during the interaction process. The findings capture prominent emotions that customers experience and various important emotion triggers (physical environment, service management and offerings and human interaction) and constructors (customer expectation, accumulated service experience and culture fusion and authenticity). Three main customer co-creation behaviours (reinforcing intention, active and resourceful behaviours), which help facilitate the co-creation of positive customer emotions, are also identified. Originality/value The study proposes a new framework that provides unique insights into ECX to guide service improvement and innovation. A novel approach of applying the appraisal theory to a netnographic study is used to develop an ECX framework, which integrates various emotion triggers and constructors, and subsequent customer co-creation behaviours in the hotel industry.
Managerial Ability and Cost Rigidity

This study investigates the association between cost rigidity and managerial ability. Cost rigidity refers to the percentage variation in costs relative to the percentage variation in sales, which can be captured by the relative proportion of fixed and variable costs. Traditional management accounting theory suggests that a less rigid cost structure with lower fixed costs offers companies flexibility in resource planning. However, we expect that higher-ability managers tend to adopt a more rigid cost structure. This is because higher-ability managers are more likely to realize unusually high demand and confront congestion if the fixed capacity is limited. To reduce congestion costs associated with higher future demand, more able managers will attempt to retain higher capacity and choose more fixed inputs, leading to a more rigid cost structure with higher fixed and lower variable costs. Consistent with our prediction, we find a positive association between managerial ability and the degree of cost rigidity. This association is stronger for firms with (1) sales increase; (2) greater demand uncertainty; and (3) lower capital intensity. Focusing on a subsample with CEO turnovers, we find an increase in cost rigidity when former CEOs are replaced with more capable CEOs. Taken together, our evidence challenges the traditional view on cost rigidity, suggesting that firms’ capacity management choices differ with the level of managerial ability.
Epidemiologic and etiologic study of acute respiratory infections in children under 5 years of age

This study also included epidemiologic data to determine the risk factors for the enhancement of these infections. The coagglutination technique for the rapid diagnosis of streptococcus was tried. Five hundred and thirty one samples of pharingeal swabs were obtained from children with ARI. 74% were younger than one year old. Brochopneumonias constituted 66.39% of the cases. In total 357 agents were isolated 35% corresponding to bacteria in pure culture, 23.3% to mixed infections and 11.6% only viruses. The bacteria were: Haemphilus influenza (12.4%), Streptococcus pneumoniae (11%), Staphylococcus aureus (9%), and Klebsiella pneumoniae (6.3%), Mycoplasma pneumoniae was identified in 5 children and M. hominis in 3. Adenoviruses were isolated in 98 patients, parainfluenza in 19, respiratory syncytial virus in 4, influenza in 1 and picornavirus in 2. Predominating socioeconomic factors were: overcrowding, deficient schooling and low income of parents which favor malnutrition. The more frequent agents were constitutes by bacteria. Viruses were a less cause of infection. It was confirmed that babies under 12 months are more susceptible to bacterial pneumonia and prompt treatment with antimicrobial agents lowered the lethality. Low socioeconomic level is a possible predisposing factor for respiratory diseases.
Charles A. Dice Center for Research in Financial Economics Can Risk Be Shared Across Investor Cohorts? Evidence from a Popular Savings Product

We study how retail savings products can share market risk across investor cohorts, thereby completing financial markets. Financial intermediaries smooth returns by varying reserves, which are passed on between successive investor cohorts, redistributing wealth across cohorts. Using data on euro contracts sold by life insurers in France, we estimate this redistribution to be large: 0.8% of GDP. We develop and provide evidence for a model in which low investor sophistication, while leading to individually sub-optimal decisions, improves risk sharing by allowing inter-cohort risk sharing. ∗A preliminary version of this paper circulated under the title “Intergenerational Risk Sharing in Life Insurance: Evidence from France. ” We thank Joseph Briggs, Anne-Laure Delatte, Christian Gollier, Valentin Haddad, Anastasia Kartasheva, Robert Novy-Marx, Ishita Sen, Boris Vallée, conference participants at the 2017 NBER Insurance Project Workshop, European Winter Finance Conference, FIRS, CSEF-IGIER Conference, SFS Cavalcade, Paul Woolley Annual Conference, Finance Meets Insurance Conference, EFA, seminar participants at Autorité de Contrôle Prudentiel et de Résolution, Chinese University of Hong Kong, ESCP Europe, Hong Kong University, Hong Kong University of Science and Technology, Singapore Management University, Nanyang Technological University, Deutsche Bundesbank, University of Toronto, and MIT-Sloan for helpful comments. We thank Autorité de Contrôle Prudentiel et de Résolution and in particular we thank Frédéric Ahado, Anne-Lise Bontemps-Chanel, Fabrice Borel-Mathurin, Charles-Henri Carlier, Edouard Chrétien, Pierre-Emmanuel Darpeix, Olivier DeBandt, Dominique Durant, Henri Fraisse, Samuel Slama, for access and assistance in putting together the data as well as comments. A Disclosure statement is listed on the Dice Center Website. All errors remain our own. †HEC Paris and CEPR, hombert@hec.fr ‡The Ohio State University, lyonnet.1@osu.edu
Investigating the Impact of Critical Factors on Continuance Intention towards Cross-Border Shopping Websites

With the intensification of globalization and the widespread adoption of the internet, cross-border e-commerce has become a popular way of shopping. In order to investigate the sustainable development of the cross-border online purchase intention, we propose the framework that uses electronic word of mouth, perceived value, website design quality, trust, perceived risk and the uncertainty avoidance index as the exogenous variables, which influenced the continuance intention towards cross-border shopping and was mediated by the satisfaction of the customers. The results showed: (1) Among all the suggested independent variables, electronic word of mouth, website design quality, trust and the uncertainty avoidance index significantly predicted the satisfaction of the customers; (2) Customer satisfaction towards the websites significantly predicted the continuance intention of users. A detailed explanation of the results and implications for the theoretical and managerial implications for practitioners and academic researchers in the sustainable promotion and development of e-commerce is discussed.
Investment and profitability factors in mutual fund performance evaluation: a conditional approach

ABSTRACT This paper provides new evidence on the appropriateness of the Fama-French five-factor model to evaluate international equity funds’ performance. After extending this model to a conditional framework by allowing for time-varying risk and performance, the results show that funds underperformed during the 2000–2017 period. Funds investing globally and in Europe tend to invest in aggressive firms, but only the latter are exposed to firms with weak profitability. We thus conclude that although both investment and profitability factors are significant in explaining fund returns, the investment factor plays a more relevant role irrespective of the funds’ geographical area of investment.
Law, sovereignty and the monetization of the European economies: a review of Making Money and Money in the Western Legal Tradition

Abstract Making Money and Money in the Western Legal Tradition provide an extensive analysis of the monetary systems of medieval, renaissance and modern Europe. They use an analytical framework that emphasizes the legal, political, and financial aspects of monetary mechanics and show convincingly that monetary systems are made and planned. Modern monetary systems did not emerge from an impersonal process of trial and error driven by market exchanges among free and equal individuals. The unit of account and accompanying monetary instruments have legal and political origins. The emergence and evolution of modern monetary systems since Ancient Mesopotamia is a story of power relations with an authority that aims at redirecting some of the economic output by imposing dues on the population. Post Keynesian readers will approach these books with Keynes’s framework in mind and will be pleased to see that it does hold well against historical evidence.
Analysing scholarly contributions to public debate with social media issue mapping: a case study of the Australia Day controversy

ABSTRACT This article outlines and demonstrates how multi-platform issue mapping can be used to investigate the impact of scholarly contributions to public debates, using digital methods and data drawn from digital media platforms. We apply this approach to the social media conversation surrounding the January 2018 Australia Day controversy, with a specific focus on the role of ‘amplifier platforms’ like The Conversation in bringing scholarly perspectives to a general audience. We identify key scholarly contributions to the debate, and analyse how they were shared and discussed on Twitter. Findings suggest that articles with a strong positionality are taken up by like-minded, interest-based communities, while those that provide an overview of the issues at hand may be able to reach across these different groups. Finally, the article discusses the future potential of this approach for the analysis of scholarly impact on matters of public concern.
Technical efficiency of agriculture in Western Balkan countries undergoing the process of EU integration

The main goal of this paper is to compare the relative technical efficiency of agriculture in Western Balkan countries to those of the European Union and to propose ways to improve the position of Western Balkan countries. The group of Western Balkan countries includes Serbia, Montenegro, North Macedonia, and Albania, which are candidate countries for European Union membership, as well as Bosnia and Herzegovina, which is currently a potential candidate. An input-oriented Data Envelopment Analysis model with the variable return to scale was applied to an 11-year period from 2006 to 2016. Input variables used in the model included labour, land, and capital, and the output was presented as the value of agricultural production. The highest average technical efficiency was achieved by the EU15 countries for the entire eleven-year period, while the Western Balkan countries had the lowest score. The source of this inefficiency was identified in lower levels of agricultural performance, e.g. a lower-level use of the primary production factors – labour and land.
That Could Have Been Me: Director Deaths, CEO Mortality Salience, and Corporate Prosocial Behavior

Mortality salience—the awareness of the inevitability of death—is often traumatic. However, it can also be associated with a range of positive, self-transcendent cognitive responses, such as a greater desire to help others, contribute to society, and make a more meaningful contribution in one’s life and career. In this study, we provide evidence of a link between chief executive officer (CEO) mortality salience—triggered by the death of a director at the same firm—and a subsequent increase in firm-level prosocial behavior or corporate social responsibility (CSR). We further show that this core relationship is amplified in situations where the death of the director is likely to have been especially salient (i.e., the director was appointed within the CEO’s tenure, or the death was sudden/expected). In supplementary analyses, we find suggestive evidence of increased CEO prosociality in other professional domains as well as evidence that prosociality seems to be preferentially directed toward ingroups. This paper was accepted by Olav Sorenson, organizations.