Miracle-dz/UniFAR-FTUs huggingface dataset:
Effects on Growth and Inflation of the Unraveling of Systemic Risk in the Euro Area Banking Sector: Lessons from the Financial Crisis

This study has two objectives. It first assesses the output and inflation effects of systemic risk-taking in the euro area banking sector using a factor-augmented vector autoregressive model that exploits a 519 time-series rich dataset, including coherent measures of systemic risk in all its forms and its time dimension. Then, it evaluates whether the systemic risk measures can be used as early warning signals of severe negative nominal growth outcomes using the Receiver Operating Characteristic approach. The main findings are that, overall, real GDP growth and inflation react negatively to a one-standard deviation shock to systemic risk measures of the euro area banking industry. Inflation depicts a more pronounced response than GDP. There is heterogeneity in the strength of the responses across diverse forms of systemic risk and their time dimension. Specifically, short-term systemic risk measures tend to portray stronger effects on output and inflation than their conditional forward counterparts. In particular, systemic risk in the form of banking sector vulnerability associated with interconnectedness and contagion plays a considerable role in depressing economic activity in the euro area. Finally, all but one systemic risk measure predict with high accuracy the extreme macro-financial instability in the euro area that followed Lehman Brothers’ collapse. The systemic risk measures are potentially good candidates to be included in a macroprudential-policy toolkit for calibrating instruments at thresholds that reflect policymakers’ risk preferences.
A higher proportion of female lambs when ewes were fed oats and cottonseed meal prior to and following conception

Diets high in omega-6 (n-6) fatty acids in mice have been associated with a higher proportion of female offspring, however, the specific effects of dietary fatty acids on the sex ratio of sheep has not previously been reported. The aim of the present study was to determine whether feeding ewes a diet differing in n-6 for 6 weeks before and 3 weeks following conception would increase the proportion of female lambs born. Merino × Border Leicester ewes (n = 296) were allocated to receive either a diet high in n-6 (70% oat grain, 8% cottonseed meal, High n-6 diet) or, a control diet low in n-6 (88% legume silage, Low n-6 diet), for 42 or 53 days before and 17 days after conception, using a stratified block randomisation procedure based on body condition score and liveweight. Following synchronisation, oestrus was detected daily during natural mating with rams. After mating, all ewes grazed improved pastures as one group until lambing. Plasma n-6 concentrations were greater (P < 0.001), the time to parturition was shorter (P < 0.001) and the proportion of female offspring was higher (58.2 vs 43.5%, P = 0.010) when ewes were fed the High n-6 diet compared with the Low n-6 diet. Further research is required to determine whether the observed differences in sex ratio were due to specific alterations in n-6 fatty acids, or other differences in the diets not specifically related to n-6 such as saturated fat or energy density.
Why Female Decision-Makers Shy Away From Promoting Competition

Incentivizing subordinates is a crucial task of anyone in a decision‐making role. However, little is known about the mechanisms behind selection of different types of incentives. Our laboratory experiment characterizes the ways in which male and female decision‐makers assign incentives, and how these choices are perceived by those affected by them. We find that women are significantly less likely to select “competitive” incentives based on comparative performance of workers, particularly in the treatment where their workers can observe their gender. The results are not due to priming but are rather consistent with the explanation that women conform to gender stereotypes in anticipation of subsequent evaluation by workers. Indeed, female decision‐makers are significantly underrated relative to comparable males, even after controlling for incentive choice and an extensive set of individual characteristics. The gender difference in competency ratings can be attributed to male workers rating female decision‐makers disproportionately lower relative to their male counterparts. The gender gap in ratings appears to arise because of gender per se and not due to a differential impact of incentives on decision‐makers' gender.
Mis-allocation Within Firms: Internal Finance and International Trade

We develop a novel theory of mis-allocation within firms (rather than between firms) due to managers' empire building. We introduce an internal capital market into a two-factor model of multi-segment firms. We show that more open markets impose discipline on competition for capital within firms, which explains why exporters exhibit a lower conglomerate discount than non-exporters (a fact that we establish). Testing our model with data on US companies, we establish that import competition reduces mis-allocation within firms. A one standard deviation increase in Chinese imports lowers the conglomerate discount by 32% and over-reporting of costs by up to 15%.
Study of Calcium Ion Diffusion in Nixtamalized Quality Protein Maize as a Function of Cooking Temperature

ABSTRACT In this report, the effect of temperature on the calcium content of Quality Protein Maize (QPM H-368C) during the nixtamalization process as a function of the steeping time for three cooking temperatures (72, 82, and 92°C) is presented. Also, for the first time, we report in physico-chemical terms the end of the cooking stage during the nixtamalization process that was established when the moisture content in corn kernels reached a value of 36% (w/w) with a lime concentration of 1% (w/v), independent of the cooking temperature. Atomic absorption spectroscopy was used to determine the calcium concentration in the whole kernel and in its different anatomical components (pericarp, endosperm, and germ) as well as in 10% of the outermost layers, the next 10%, and the remaining 80% of the endosperm as a function of the steeping time. It was found that if the cooking temperature increases, the calcium content increases also. For steeping times in the range of 5–7 hr, a relative maximum was found in the .
Intellectual Property Rights and Foreign Direct Investment in Sub-Saharan Africa (2000-2016)

This study looks at the impact of intellectual property rights (IPRs) on foreign direct investment (FDI) for a cross-section of 30 Sub-Saharan African (SSA) countries between 2000 and 2016. The broad objective of this study is to appraise IPRs protection as a determinant of Foreign Direct Investment (FDI) inflow in Sub-Saharan Africa. Specific objectives are to: examine the trend of Intellectual Property Rights protection in Sub-Saharan Africa; investigate the extent of IPR protection in the region; and examine the impact of IPRs Protection on FDI in the region. <br><br>The data used include Foreign Direct Investment (FDI), Inflation rate (INF), Market size proxy by GDP (MKT), Trade openness (OPEN) and Population growth rate (POP), which were sourced from World Bank Development Indicators 2017 edition. Data on Intellectual Property Rights (IPR) and Government Integrity were sourced from Property Right Index by The Heritage Foundation 2017 index of economic freedom. Descriptive and four different methods of panel techniques (Pooled ordinary least squares, Fixed effect and Random effect models) and the panel Generalized Method of Moment (GMM) were used to analyze the data. <br><br>The results indicate that first, strengthening intellectual property rights (IPRs) has a positive effect on foreign direct investment (FDI) with a coefficient of 0.325310 and P-value of 0.0146. The GMM estimation was used because of its superiority to fixed and random effect estimations. Other exogenous variables used include the following: Government integrity (GOVTINT) has positive relationship with FDI though the effect is not statistically significant with coefficient of 0.0418919 and P-value of 0.3338. Inflation (INF), as expected has negative relationship but the effect is not statistically significant with coefficient of about 0.086286 and a P-value of 0.9524. Market size (MKT) proxy by GDP has a coefficient of 0.088942 and a P-value of 0.0385. So the relationship is positive and it is statistically insignificant. Openness (OPEN) also has positive and also the effect on FDI with a coefficient of 0.316320 but not significant because the P-value is 0.2605. Lastly, Population growth rate (POP) has a positive relationship and significant with a coefficient of 2.526767 and P-value of 0.0000. <br><br>As the results indicate, intellectual property rights (IPR) protection has positive effect on foreign direct investment (FDI) inflow into SSA; its impact is very huge. Therefore, IPRs protection is important for consideration when SSA countries are taking decision on policies. Other institutional policies have to be put in right perspective. All other things been equal, the enforcement of IPRs will enhance large inflow of FDI into Sub-Saharan African countries and translate into economic growth of these countries. The conclusion is that protection of intellectual property Rights has great impact on Foreign Direct Investment inflow in Sub-Saharan Africa.
Responsible Governance for City Change: The Case of Toronto’s Harbourfront

This article focuses on the governance of city change including the integration of high technology into city systems, illustrated with a case study at Toronto’s harbourfront. Many agree that it is at the city level, rather than at regional or national levels, where we will see the greatest progress on climate change mitigation and adaptation, for a variety of reasons (Hughes, 2017). A UNEP estimate is that cities may spend approximately US$41 trillion by 2030 on new water, energy, and transportation infrastructure to accommodate growing populations (UNEP, 2013). These impending investments in smart sustainable changes are in accordance with an urgent requirement to address the United Nations Sustainable Development Goals (UN SDGs), for example, Goal #11 Sustainable Cities and Communities and Goal #13 Climate Action. Making city systems smarter through technology enables higher levels of sustainability overall and thereby addresses most of the UN SDGs, either directly or indirectly.
Debt Structure

We review the literature on debt structure, which is a central element in a firm's capital structure. We first survey both theoretical and empirical research pertaining to debt characteristics—maturity and priority—and debt types—bank loans, corporate bonds, credit lines, commercial paper, and capital leases. We then present comprehensive empirical evidence on public US firms’ debt structure over the period 2002–2018, highlighting that more than three-quarters of US firms concentrate their borrowing in one debt type, and offer some suggestive explanations for the observed pattern. Finally, we discuss directions for future research, including a better understanding of debt structure choices by non-US firms and by private firms, the cross-sectional and temporal variations in debt structure, the corporate policy implications of firms’ debt structure choices, and the interaction between types of assets and debt structure.
Reproduction of a fingernail clam in contrasting habitats: life-history tactics?

In a population of a semelparous fingernail clam (Pisidium casertanum) inhabiting an ephemeral pond, litter size was larger and generation time was shorter than that of a conspecific population in a lake. This agreed with the r–K selection model, which predicts selection for a shorter generation time and larger litter sizes in relatively unstable habitats. Cage experiments at varying densities, however, revealed that considerable phenotypic variability in litter size may be environmentally induced. These results indicate that this and other comparative studies of intraspecific variation in the life-history traits of fingernail clams cannot conclude that varying evolutionary tactics are present until simpler hypotheses of environmentally induced variation are dismissed.
The Valuation Differences Between Stock Option and Restricted Stock Grants for U.S. Firms

In this study, we document a significant shift over the past several years from stock option-based compensation to restricted stock-based compensation. Additionally, we evaluate whether stock option grants and restricted stock grants result in similar valuation consequences for firms. We estimate cross-sectional valuation equations that include the value of stock option and restricted stock grants summed over the current and past two years, residual income, and book value of equity, after controlling for endogeneity. Consistent with prior research, our findings indicate that the market on average values stock option grants positively. However, in contrast to stock option grants, restricted stock grants are valued negatively. This result is consistent with restricted stock grants lacking the positive incentive effects of stock options and being viewed as a liability or expense to the firm.
Influência da dieta com diferentes níveis de lipídeo e proteína na resposta fisiológica e hematológica de reprodutores caprinos sob estresse térmico

Este trabalho foi desenvolvido no Centro de Saude e Tecnologia Rural da Universidade Federal de Campina Grande Campus de Patos-PB. Com o objetivo de verificar se dietas com diferentes niveis de lipideo e proteina no periodo mais quente do ano (Novembro a Dezembro) influenciam na resposta fisiologica e hematologica de reprodutores caprinos sob estresse termico. Foram utilizados 27 reprodutores caprinos, mesticos de Anglo-Nubiano com caprinos sem raca definida (SRD). Distribuidos num delineamento inteiramente casualizado no esquema fatorial 3 x 3 x 2, tres niveis de lipideos (2, 4 e 6%), tres niveis de proteina (12, 15 e 18%) e dois turnos (manha e tarde) com tres repeticoes. Alimentados com dietas balanceadas compostas por: farelos de milho, trigo e soja, feno de Tifton (Cynodon spp.), mistura mineral e como fonte de lipideo oleo de girassol. As leituras dos dados meteorologicos foram realizadas duas vezes por dia as 9:00 horas da manha e as 15:00 horas da tarde. Os parâmetros fisiologicos: temperatura retal (TR), frequencia respiratoria (FR) e temperatura superficial (TS) foram aferidos dois dias por semana nos dois turnos as 9:00 horas da manha e as 15:00 horas da tarde. Foi coletada uma amostra de sangue, para a realizacao de eritrograma. As medias das temperaturas foram de 37,21 oC para a maxima e 25,25 oC para a minima. Os valores do indice temperatura do globo negro e umidade (ITGU) para os turnos da manha e tarde foram de 80,16 e 87,17, respectivamente. Nao se verificou efeito (P>0,05) das dietas sobre os parâmetros TR e FR. Com relacao ao fator turno houve efeito significativo (P 0,05) das dietas sobre os parâmetros sanguineos, hematocrito (HT), eritrocitos (ER), hemoglobina (HB), hemoglobina corpuscular media (CHCM) e volume globular medio (VGM). Os diferentes niveis de proteina e lipideo na dieta nao exerceram efeito sobre os parâmetros fisiologicos e hematologicos dos animais estudados nas condicoes desse experimento.
Sequential Bargaining in a New-Keynesian Model with Frictional Unemployment and Wage Negotiation

We consider a model with frictional unemployment and staggered wage bargaining where hours worked are negotiated every period. The workers' bargaining power in the hours negotiation affects both unemployment volatility and inflation persistence. The closer to zero this parameter, (i) the more firms adjust on the intensive margin, reducing employment volatility, (ii) the lower the effective workers' bargaining power for wages and (iii) the more important the hourly wage in the marginal cost determination. This set-up produces realistic labor market statistics together with inflation persistence. Distinguishing the probability to bargain the wage of the existing and the new jobs, we show that the intensive margin helps reduce the new entrants wage rigidity required to match observed unemployment volatility.
Establishment of a Self‐Mating Mosquito Colony of Anopheles sinensis From Korea

ABSTRACT Many Korean entomologists have attempted to colonize Anopheles sinensis Korean strain, a primary malaria vector in Korea, previous efforts, however, were unsuccessful. Only a study that a successful colonization of An. sinensis Korean strain over 5 generations was recently reported. Recently we obtained a self‐mating colony from this mosquito strain. The original colony was established from progenies obtained from females collected from So‐Rae District, Incheon, Republic of Korea (ROK), and was maintained for 23 successive generations. While the adult females of first five generations were fed on humans as a source of blood, those of the subsequent 18 generations were fed on white rats as a source of blood. A self‐mating colony was initiated from the 9th generation by rearing 200 and 300 newly emerged females and males, respectively, in a 30x30x30 cm cage. The insemination rates increased from approximately 40% to 81% by the 20th generation. Comparisons of biological aspects between artificial mating and self‐mating colonies are reported.
Mating type distribution provides evidence for sexual reproduction of Mycosphaerella graminicola in Algeria

Abstract Septoria tritici blotch caused by Mycosphaerella graminicola is currently the most frequently occurring and economically damaging disease on wheat crops worldwide. A total of 120 single-conidial isolates of this fungus (60 from bread wheat and 60 from durum wheat) were sampled in 2012 from five distinct geographical locations of Algeria and analyzed for mating type distribution to provide insight into the potential of sexual reproduction. The mating type of each isolate was identified using a multiplex PCR that amplifies either a MAT1-1 or a MAT1-2 fragment from mating type loci. Both idiomorphs were scored at equal frequencies according to the χ2 test at different scales. They were found to occur at equal proportions at the whole country level (46 % MAT1-1 vs. 54 % MAT1-2) and at the level of each sampled location. The two mating types were also found at equal frequencies on both host species at the country scale (47 % MAT1-1 vs. 53 % MAT1-2 on bread wheat and 45 % MAT1-1 vs. 55 % MAT1-2 on durum wheat) and irrespective of the sampled locations. This equal mating type distribution at both geographic and host species levels suggests a large potential for sexual reproduction of M. graminicola in Algeria and indicates a lack of specificity between mating types and host species in the case of the wheat-M. graminicola pathosystem.
Managerial Talent and Dividend Policy of Commercial Banks in Kenya

This paper explains the role of managerial talent in creating value for the shareholders. It is based on the assumption that markets are imperfect therefore one manager performance is different from another manager’s performance in terms of philosophy, style and reputation. Using a panel data of six major banks in Kenya from the year 2006 to 2015 a managerial fixed effect regression model is applied to determine how well managers of the banks were at generating returns for their shareholders. The result indicate that managerial performance as a latent variable can be isolated by regressing dividends paid per share on current earnings per share and prior dividends paid. Out of the six banks, Standard chartered bank managers outperformed other managers by paying significantly higher dividends than what all the rest paid on average. Conversely National bank managers paid significantly lower dividends per share compared to what the peers paid. Therefore investors seeking stable and higher dividends are advised to hire talented managers because their performance is above average. Prior dividends and current earnings are positively and strongly related to dividend policy of major banking institutions in Kenya.
Factors Determining Credit Access of Tomato Farmers in a Selected Area of Bangladesh

Tomato farming has emerged as a commercial business in Bangladesh that demands a lot of credit support from financial institutions. This study aims to estimate the factors determining credit access of tomato farmers in a selected area of Bangladesh. Probit regression model is employed to estimate the determinants of credit access. About 60 tomato farmers are randomly selected from Mymensingh district. About 66% farmers have not yet got the credit access. Moreover, credit accessibility is influenced by different factors. Probability of credit access increases with years of schooling, own asset and productivity of tomato farmers. Educated farmers are aware about the rules of financial institutions while own asset and high production of tomato farmers assure the credit providers about timely payback. In addition, Probability of credit access reduces with the farmer’s age. Tomato productivity and export of Bangladesh can be increased through timely credit accessibility of tomato farmers.
Mineral composition of the cultivated mushrooms Agaricus bisporus, Pleurotus ostreatus and Lentinula edodes

Contents of 23 elements were estimated in pilei and stipes of different varieties of three cultivated mushrooms (Agaricus bisporus, Pleurotus ostreatus and Lentinula edodes). The average data of element's composition were evaluated and compared to each other and to the average composition of the wild growing fungi. The high and remarkable K (and partly P) contents are postulated, first of all to Agaricus bisporus. The Ca and Mg contents are in general relative stable and balanced. Copper and Mn as valuable microelements required to the normal human biochemical processes have important quantities. Low sodium levels are characteristic to all examined mushrooms, the lowest values were found for Pleurotus ostreatus. The high K and the low Na contents mean a valuable rate of K and Na (to all species) in the human nutrition of some patients. Selenium level of Agaricus bisporus (2.3-2.7 mg kg-1, d.m.) may improve the Se-supply of the customers. Our data demonstrate clearly that the Cd and As levels of three spec.
Quality Comparison of Aquacultured Pacu (Piaractus mesopotamicus) Fillets with Other Aquacultured Fish Fillets Using Subjective and Objective Sensorial Traits

Abstract Pacu were purged for 0, 2, 4, and 6 days, processed into skinless fillets, and sensory qualities compared. The effect of depuration procedures on preference was determined using a simple ranking test. Pacu with the highest preference was compared with other aquacultured fishchannel catfish, rainbow trout, tilapia, and hybrid striped bass for differences and preferences using triangle and simple ranking test, respectively. The influence of cooking on the Hunter color readings of ground fish fillets was measured. Purging significantly influenced the preference for pacu (p < 0.05). Pacu was not significantly different in flavor from other fish except channel catfish. There were no significant differences in preferences for all the fish (p > 0.05). Cooking increased the “L” value and decreased “a” and “b” values for all fish.
Weather-Induced Mood and Crowdfunding

Do investors' moods influence their contributions to risky investments in equity crowdfunding? Yes. We use weather as a proxy for mood because besides serving as powerful mood stimulus, changes in weather are plausibly exogenous and orthogonal to attributes of crowdfunding campaigns, yielding an advantageous identification strategy. Our results, based on data from Companisto -- one of the largest European equity crowdfunding platforms -- indicate that change in sky cloud cover from zero to full reduces investors' contribution amounts by about 10-15% (across different specifications). Our paper highlights the broader role of financiers' moods and emotions in providing valuable financial resources to entrepreneurs.