Miracle-dz/UniFAR-FTUs huggingface dataset:
Institutional Investors as Minority Shareholders: Do They Matter When Ownership is Concentrated?

We shed new light on the corporate governance role of institutional investors in markets where concentrated ownership and business groups are prevalent. When companies have controlling shareholders, institutional investors, as minority shareholders, can play only a limited role in corporate governance. Moreover, the presence of powerful families who control many public companies through business groups creates new potential sources of conflicts of interests for institutional investors. Using hand-collected data on voting patterns of institutional investors in Israel, we establish four main stylized facts: (1) Legal intervention plays an important role in shaping voting behavior; (2) Voting against company proposals is more likely in compensation-related proposals, even when institutional investors are unlikely to influence outcomes; (3) Institutional investors with certain other business activities (e.g. underwriting) and those affiliated with a public company or business group are more likely to support insider-sponsored proposals than "pure-play," stand-alone investors; and (4) Large firms tend to enjoy a more favorable treatment from institutional investors, whereas firm performance has virtually no impact on voting. One possible implication of these results is that, in order for institutions to play a role in corporate governance, what matters most is not the legal power granted to minority shareholders but rather the absence of conflicts of interest.
Saliency Detection based on Depth and Sparse Features

In this paper, we modified the region-based Human Visual System (HVS) model by import two features, sparse feature and depth feature. The input image is firstly divided into small regions. Then the contrast, sparse and depth feature of each region are extracted. We calculate the center-surround feature differences for saliency detection. In this step, the center shift method is adopted. In the weighting step, the human visual acuity is adopted. Compared with the existing related algorithms, experimental results on a large public database show that the modified method works better and can obtain a more accurate result.
Consumer attitudes and behaviors associated with direct‐to‐consumer prescription drug marketing

Purpose – This article seeks to examine attitudes about direct‐to‐consumer advertising (DTCA) of prescription drugs to final users (referred to as consumers in this paper). Design/methodology/approach – A national telephone survey was carried out of 300 consumers that had seen a doctor in the last six months.Findings – Consumer awareness of DTCA continues at a very high level (96 percent) among the adult consumer population. However, the majority of consumers (53 percent) disagreed somewhat or strongly with the statement “I like seeing advertisements directed to consumers for prescription drugs. ” The majority of consumers (69 percent) agree strongly or somewhat that DTCA does not provide adequate information on the risks and benefits of advertised products. It appears that the use of DTCA by pharmaceutical companies is not stimulating nearly the information‐gathering response reported in past studies.Research limitations/implications – Small sample size makes this survey exploratory.Practical implications .
Using the LLTM to evaluate an item-generating system for reading comprehension

Due to inconclusive findings concerning the components responsible for the difficulty of reading comprehension items, this paper attempts to set up an item-generating system using hypothesis-driven modeling of item complexity applying Fischer’s (1973) linear logistic test model (LLTM) to a German reading comprehension test. This approach guarantees an evaluation of the postulated item-generating system; moreover construct validity of the administered test is investigated. Previous findings in this field are considered; additionally, some text features are introduced to this debate and their impact on item difficulty is discussed. Results once more show a strong influence of formal components (e.g. the number of presented response options in a multiple-choice-format), but also indicate how this effect can be minimized.
Outsourcing, Regional Trade and Specialization: An Application to in the German Pig Sector

The global trend of industrializing agriculture increasingly transforms farms and firms into specialized component suppliers within a multi-stage food processing chain, which creates intraindustry trade between- and within geographical regions. This can be analyzed within the framework of a hypothetical multiregional food-processing firm that benefits from outsourcing various ‘tasks’ to other sub-contracting regions, in order to utilize lower production cost there. This is modeled as a multi-output cost minimization problem of the processing firm, and it is argued that with respect to agriculture, the outsourcing opportunities for the firm are determined by economies of diversification. Trade is implicitly reflected as the movement of intermediate factors towards the processing firm, and firm-level specialization of the sub-contractors is an observable outcome. This framework is applied to pig production in 1150 municipalities in southern Germany. The estimated multi-output production frontier is decomposed according to a primal measure of diversification economies. Results show that pig farms located closer to slaughterhouses tend to specialize more in one of the tasks ‘piglet production’, ‘rearing’ or ‘fattening’, while farms in regions distant from slaughterhouses tend to in-source all of these tasks. Future research may extend the framework towards comparative static analyses of relevant policies.
A Model of Web Site Browsing Behavior Estimated on Clickstream Data

Using the clickstream data recorded in Web server log files, the authors develop and estimate a model of the browsing behavior of visitors to a Web site. Two basic aspects of browsing behavior are examined: (1) the visitor's decisions to continue browsing (by submitting an additional page request) or to exit the site and (2) the length of time spent viewing each page. The authors propose a type II tobit model that captures both aspects of browsing behavior and handles the limitations of server log-file data. The authors fit the model to the individual-level browsing decisions of a random sample of 5000 visitors to the Web site of an Internet automotive company. Empirical results show that visitors' propensity to continue browsing changes dynamically as a function of the depth of a given site visit and the number of repeat visits to the site. The dynamics are consistent both with “within-site lock-in” or site “stickiness” and with learning that carries over repeat visits. In particular, repeat visits lead to reduced page-view propensities but not to reduced page-view durations. The results also reveal browsing patterns that may reflect visitors' time-saving strategies. Finally, the authors report that simple site metrics computed at the aggregate level diverge substantially from individual-level modeling results, which indicates the need for Web site analyses to control for cross-sectional heterogeneity.
JUST-IN-TIME AND POWER RELATIONS IN THE MANUFACTURING CHAIN

Abstract This paper discusses the impact of JIT on the customer-supplier relationship in the Australian automotive industry. It is argued that the gradual restructuring of the automotive components industry over the past several years is in part an effort to accommodate the introduction of JIT into the five major vehicle assemblers. Further, while the power (of production disruption) of the supplier sector is enhanced in the short term by JIT, structural accommodation results in cooperative and integrative, rather than adversarial, competitive business relations. Five areas are discussed: first, a summary of theoretical issues underlying the study; second, an outline of the structure of the automotive components industry in Australia; third, a brief history of the introduction of JIT principles into the components industry; fourth, the changing business relations between vehicle builders and component suppliers; and fifth, some effects of labour disputation in the components sector on the (core) vehicle a.
Efficient interference-aware power control in wireless ad hoc networks

Interference management through power control in wireless ad hoc networks has both the hidden terminal problem which induces collisions, and the exposed terminal problem which prohibits concurrent transmissions. Both problems are caused by the varied interference range induced by the adjusted transmission power. Through observing that the nodes adopt the power control mechanism induces collisions in one scenario and miss concurrent transmission opportunities in two scenarios, this paper presents IAPC (Interference-Aware Power Control), a novel protocol to improve the network throughput from these aspects. IAPC makes the interference range of each link covered by its CTS (Clear-To-Send) transmission through utilizing a signature detection process, so as to avoid interference. Meanwhile, it lets CTS convey the transmission power information of this link to make the neighboring node determine a limited transmission power, which tries to make the neighboring node outside the interference range of the ongoing link, thus can exploit concurrent transmissions. Simulation results based on ns-2 show that IAPC can outperform the other protocols significantly.
Small Business Lending: Challenges and Opportunities for Community Banks

The recent decline in small business lending (SBL) among U.S. community banks has spurred a growing debate about the future role of small banks in providing credit to U.S. small businesses. This paper adds to that discussion in three key ways. First, this research builds on existing evidence, suggesting that the decline in SBL by community banks is a trend that began at least a decade before the financial crisis. Second, the authors show that in the years preceding the crisis, small businesses increasingly turned to mortgage credit to fund their operations. Finally, this paper illustrates how community banks face an increasingly dynamic competitive landscape, including the entry of deep-pocketed alternative nonbank lenders using technology to find borrowers and to underwrite loans, often using unconventional lending practices. Although these lenders may pose a competitive threat to community banks, the authors explore emerging examples of partnerships and alliances among community banks and nonbank lenders.
Unintuitive phonetic behavior in tswana post-nasal stops

This article describes the phonetic process of post-nasal devoicing in Tswana. We propose a multi-agent exemplar model with various interaction schemes which include factors like functional and social biases in order to account for this counter-intuitive phenomenon. Our novel hybrid multi-agent modeling framework facilitates investigation of sound change by combining the sociophonetic model of Nettle [22] and the exemplar-based model of Wedel [26] into a single unified model.
E-Government Portal Characteristics and Individual Appeal: An Examination of E-Government and Citizen Acceptance in the Context of Local Administration Portals

E-government applications have become an important interface between citizens and public administration. However, quantitative research on e-government usage shows a tendency toward generic research models and in part lacks statistical rigor. Especially mediating conditions are often not taken into account appropriately. This contribution addresses this gap and provides a conceptually extended model of technology acceptance in the context of online city portals. The proposed model is tested with a large sample (n = 1,273) using structural equation modeling. Ease of use, usefulness, and privacy were found to be determinants of e-government portal acceptance, which in turn determines continuance intention of e-government portals. Furthermore, Internet competence and need for personal interaction were found to be direct determinants of continuance intention on the level of individual user appeal. The findings are discussed in terms of theory, and implications for public managers of online city portals are derived.
Analysis of MT1‐MMP and MMP2 expression in human gastric cancers

Membrane‐type 1 matrix metalloproteinase (MT1‐MMP) is a presumed activator of MMP2, which is one of the major proteinases in tumor cell invasion. In this study, we determined the clinico‐pathologic significance of MT1‐MMP expression in 68 human gastric carcinomas. The tumor‐normal ratio (T/N ratio) of MT1‐MMP expression was determined by reverse transcription‐polymerase chain reaction analysis. To visualize the localization of MT1‐MMP, an immunohistochemical study was performed. In addition, a gelatin zymography was done to examine the activation ratio of MMP2, and a correlation between MT1‐MMP expression and activation of MMP2 was studied. The expression of MT1‐MMP mRNA was higher in tumor tissue than in corresponding normal tissue in most cases. The mean value of the T/N ratio was 4.8. Twenty cases with T/N ≥ 4.8 showed significantly deeper invasion and higher frequency of lymph node metastasis than 48 cases with T/N < 4.8. MT1‐MMP expression was an independent factor influencing both tumor invasion of the gastric wall and lymph node metastasis. Although MT1‐MMP expression was not an independent prognostic factor, the patients with T/N ≥ 4.8 showed a significantly worse prognosis than those with T/N < 4.8. An immunohistochemical study demonstrated that MT1‐MMP expression was mainly recognized in the tumor cells. There was a significant correlation between MT1‐MMP expression and activation of MMP2. Our findings suggest that: 1) the expression of MT1‐MMP may influence prognosis via tumor invasion of the gastric wall and lymph node metastasis, and 2) MT1‐MMP activation of MMP2 may be clinically relevant in gastric carcinoma tumors. Int. J. Cancer 74:316‐321, 1997. © 1997 Wiley‐Liss, Inc.
Land markets from the bottom up : micro-macro links in economics and implications for coastal risk management

Coastal flood risk is defined as a product of probability of event and its effect, measured in terms of damage. The focus of this paper is on how to decrease risk by decreasing potential damage. We review socio-economic literature to show that total flood damage depends on individual location choices in the housing market and on individual flood risk awareness. Low flood risk awareness leads to inefficient spatial developments and increased flood risk. We show that personal experience, risk communication, financial instruments like insurance from flooding and technical instruments like building on high elevations, are factors that increase individual risk awareness. Evidence that these factors indeed affect housing prices and land use patterns is provided. We discuss proactive instruments that can be used in coastal zone management in the Netherlands to increase individual risk awareness. We argue that policy-makers may create incentives giving individuals a possibility to make location choices that lead to less total flood risk in the coastal zone area.
Toward Collaborative Governance in Economic Cooperation between Hong Kong and Mainland China

Economic cooperation between Hong Kong and Mainland China, especially Guangdong province, has flourished since the establishment of the Hong Kong Special Administrative Region (HKSAR) in 1997. The landmark in this process was the conclusion of the free trade agreement (FTA) between the two areas in 2003. The Closer Economic Partnership Arrangement (CEPA) between Hong Kong and the Mainland cover liberalization of trade in goods, liberalization of trade in services, mutual recognition of professional qualifications, and other trade facilitation measures. This paper argues that a collaborative governance regime based on network coordination is emerging under “One Country, Two Systems” (OCTS) and the collaborative approach will be used to explain the intensifying Hong Kong-Mainland economic cooperation. This paper has three parts. Part one provides an overview of the evolution of intergovernmental mechanisms between Hong Kong and the Mainland and introduces the analytical framework. Part two discusses how the framework can be applied to the intergovernmental mechanisms on CEPA and part three analyzes the key provisions of CEPA and its implications.
Genome-Wide Mapping of In Vivo ER&agr;–Binding Sites in Male Mouse Efferent Ductules

As an important nuclear hormone receptor, estrogen receptor α (ERα), which is encoded by the Esr1 gene, regulates the expression of hundreds of genes in a stimulus-specific, temporal, and tissue-specific fashion, mainly by binding to specific DNA sequences called estrogen response elements (EREs). As an important estrogen target tissue in males, the function of the efferent ductules relies on the presence of the ERα protein, but the underlying regulatory mechanisms are poorly illustrated. In this study, genome-wide ERα-binding sites in mouse efferent ductules were mapped by chromatin immunoprecipitation sequencing. In total, 12,105 peaks were identified, and a majority of them were located far from the annotated gene transcription start site. Motif analysis revealed that ∼80% of the ERα-binding peaks harbored at least one ERE, whereas androgen response element-like sequences were the most overrepresented motif in the peaks without any EREs. A number of candidate transcription factor motifs adjacent to the EREs were significantly enriched, including AP2 and GRE, implying the involvement of these putative adjacent factors in the global regulation of ERα target genes. Unexpectedly, more than 50% of the ERα-binding peaks in mouse efferent ductules overlapped with those binding peaks previously identified in mouse uterus, suggesting the conserved mechanism of ERα action in these two tissues. Cobinding of ERα target genes by androgen receptor was further confirmed for Slc9a3 gene, which was responsible for fluid resorption in the efferent ductules. Taken together, our study provides a useful reference set for future work aimed at exploring the mechanism of ERα action in physiological conditions.
Resource scavenging : Another dimension of the internationalisation pattern of high-tech SMEs

Purpose – There has been growing interest in studying the internationalisation of small and medium-sized high-technology firms. This literature tends to equate “internationalisation” with the “internationalisation of sales”. Yet sales are not the only international activity of high-tech firms. High-tech firms need resources and not just markets. The purpose of this paper is to contribute to an understanding of this resource dimension of the international behaviour of high-tech firms. Design/methodology/approach – The empirical basis for the study lies in a multiple case study of six high-tech small and medium-sized enterprises (SMEs). The authors selected two firms from each of three high-tech industries: biotechnology (specifically drug development), renewable energy and ICT. The key decision makers in each firms were then interviewed in depth. Findings – The authors show that for the case firms in the study, internationalisation can take the form of searching, prospecting or “scavenging” for resources. “Resource-seeking” behaviour occurs because the SMEs do not own, control or have access to sufficient resources to bring their technology to market on their own. The pattern of internationalisation that results from resource scavenging is different to that of traditional “market-seeking” internationalisation. Originality/value – This paper provides evidence of how the resource-acquisition behaviour of high-tech SMEs can be an important element of their internationalisation. Yet existing literature has focused almost exclusively on the market-seeking internationalisation of these firms.
Sulfide Binding in the Body Fluids of Hydrothermal Vent Alvinellid Polychaetes

Dissolved H2S is a major environmental factor in hydrothermal vent ecosystems. In a study of adaptations to sulfide by alvinellid polychaetes, the sulfide‐binding capacity of body fluids was examined in Paralvinella palmiformis from northeast Pacific ridges and Alvinella species from the East Pacific Rise. Sulfide concentrations in vascular blood and coelomic fluid of freshly collected animals were notably variable. Separation of P. palmiformis body‐fluid components revealed that most sulfide (ca. 77%) was accumulated in the dissolved fraction. In P. palmiformis, both vascular blood and coelomic fluid could reversibly bind sulfide in vitro with a low affinity, saturating only at high dialysate concentrations (ca. 2 mmol L−1). No sulfide‐binding activity was observed in the vascular blood from Alvinella species. A dissolved protein component of greater than 90 kDa appears to be involved in sulfide binding in Paralvinella, probably a vascular extracellular high‐molecular‐weight hemoglobin. Some sulfide may also adsorb onto a 15.38‐kDa intracellular hemoglobin present in the coelomic erythrocyte fraction. In the absence of epibiotic bacteria, Paralvinella body fluids may function as a sulfide buffer to protect tissues from deleterious effects of sulfide exposure.
Statewide Evaluation of Florida's Community-Based Care: 2005 Final Report

Table 23. Proportion of children exiting within 12 months after entry into out-of-home care (entry cohort FY01-02) by lead agency category: lead agencies that practice family conferencing and lead agencies that do not. Table 24. Proportion of children reentering out-of-home care (exit cohorts FY01-02 and FY02-03) by lead agency category: Lead agencies that practice family conferencing and lead agencies that do not. Table 31. Proportion of children exiting within 12 months after entry into out-of-home care (entry cohort FY01-02) by lead agency category: lead agencies with parent/partner organizations, lead agencies without parent/partner organizations, and lead agencies with service centers……. …76 Table 32. Proportion of children reentering out-of-home care (exit cohorts FY01-02) by lead agency category: lead agencies with different organizational structures…………………………………………………………………………………………………76 vii Executive Summary Throughout our country, states and communities are struggling with the complex challenges of ensuring the permanency, safety and well being of children who have been abused or neglected. Many states, including Florida, are experimenting with various types of privatization of child welfare services. This evaluation report investigates the status of Community-Based Care (CBC) in Florida, with a special focus on quality, cost and child and family outcomes. The report also examines possible relationships between child and family outcomes and a set of predictive variables including lead agency organizational structure, family team conferencing, and child demographic characteristics. The time period (FY04-05) was a year of rapid growth for CBC, resulting in 18 lead agencies and 64 counties, and more counties in the start-up phase as the year progressed. The evaluation is organized around a set of research questions regarding the effectiveness of Community-Based Care. The first area of CBC examined was the effectiveness of lead agencies at designing and improving systems and services for child protection. This question was addressed through an analysis of the organizational structure of lead agencies, their provider networks, and boards of directors. An examination of organizational complexity revealed that all lead agencies had developed four-five departments or divisions, indicating consensus regarding the types of specializations needed to administer Community-Based Care. The degree of vertical differentiation varied, with the majority of lead agencies averaging three persons from the lowest level of the organization to the CEO, and five lead agencies averaging 4.5 persons. Greater vertical differentiation indicates a need for more process and communication protocols and standards. Spatial dispersion was greater for those lead agencies serving multiple counties. The analysis of the relationship between …