Miracle-dz/UniFAR-FTUs huggingface dataset:
Rate‐of‐Return Regulation and Utility Capital Structure Decisions

A CORPORATION'S capital structure is a means for partitioning its return stream among different classes of securityholders and across different states of nature. The primary thrust of capital structure theory has been to determine whether and how this partitioning affects the total value of the firm.1 For a firm subject to rate-of-return regulation, however, the capital structure decision may take on an additional dimension. Under such regulation, the firm's output price is set by an outside agency so as to yield a "fair" return to providers of capital, and, if effective, this process reduces monopoly profits. But if the regulator's price-setting rule depends on the firm's capital structure in some predictable way, the firm may be able to influence price and hence reap additional profits by judiciously choosing its financing mix. The purpose of this paper is to analyze possible "price-influence" effects of a regulated firm's capital structure and to illustrate regulators' attempts to combat them. The determinants of a regulated firm's capital structure have been touched upon in previous papers (Gordon [8], Elton and Gruber [5], Gordon and McCallum [9], Jaffe and Mandelker [11], Meyer [14] and Sherman [24], for example), but that issue has not been their primary concern. The present paper differs from those mentioned above by focusing its attention more directly on the capital structure decision. This issue is of interest in its own right in view of the important position occupied by regulated firms' securities in the capital market, but the approach taken here also serves to highlight and extend some common threads in the previous papers. In particular the results of these papers emerge as straightforward applications of the price-influence principle, and differences among them can be attributed to differing perceptions of the regulator's pricesetting behavior. Section I of the paper discusses the price-influence principle in general terms and describes the circumstances under which it will alter a regulated firm's financing choice. Section II presents three illustrations of how the general principle might work in practice, depending on the price-setting behavior of the regulatory agency. Section III discusses regulators' attempts to thwart the priceinfluence effect, and conclusions are drawn in Section IV.
Reconsidering the role of HR in M&As: : what can be learned from practice

Mergers and acquisitions (M&As) offer an important tool for rapid organizational growth, acquisition of new knowledge and capabilities, and entry into new markets at home or abroad. Although the importance of the involvement of the human resource management function has been widely extolled, evidence for the level of involvement remains limited. A significant gap in our understanding is created by the observation that not all M&As are motivated by the same objectives. We explore the significance of different forms of M&A for the scope and intensity of involvement of the human resource management function by examining a set of three cases of different M&As conducted by a single firm in Italy. The cases provide evidence that we should expect HR functional involvement to vary across the type of M&A. We offer a conceptual framework with testable propositions for scholars interested in further exploring these relationships.
Treatment of Hip Trochanteric Bursitis Using Hyaluronate Injections

Trochanteric bursitis is a common cause of musculoskeletal pain and often requires medical intervention and should be distinguished from sciatica and irradiating pain of pelvic and spinal origin. Previously, the etiology of the trochanteric pain syndrome was thought to be caused by inflammation. The current study was performed in order to assess the efficacy of trochanteric injections. Methods: 158 patients were treated for trochanteric bursitis (132 females/26 males, range 22 - 88 years). 59b were treated with corticosteroid injection, 60 with hyaluronate and 39 were injected using a combination of both. Patients were followed by the HOOS score for a minimum of 12 months. Results: Pre-operative HOOS scores were similar in all groups. Following injection, the HOOS score increased from 27 ± 4 to 66 ± 2 after six months and 77 ± 4 after a year. At 12-month follow-up, the average score of patients treated by corticosteroids injection was 44 ± 7 compared with 62 ± 8 for the hyaluronate injected group and 64 ± 6 for the combination injection group. Discussion: It appears that injection therapy is highly efficacious for treating trochanteric bursitis. The effect of hyaluronate or hyaluronate and steroid combination appears to be longer lasting than that of steroid alone.
Does Financial Regulation Enhance or Impede the Efficiency of China's Listed Commercial Banks? A Dynamic Perspective

Unlike studies investigating only the characteristics of bank regulation that affect the concurrent static efficiency of banks, this paper uses a dynamic, slacks-based measure to study the persistent and intertemporal effects on the dynamic efficiency of banks in the long run. The authors find the following main results. First, the cost-to-income ratio has a significant negative effect on bank efficiency. Second, banks having higher loan-to-deposit and current ratios are more efficient than those with lower ratios. Third, the capital adequacy, provision coverage, and loan-loss provision ratios do not significantly affect bank efficiency.
Renal responses to salinity change in snakes with and without salt glands

SUMMARY To understand renal responses to salinity change in aquatic reptiles, we examined the structure and function of the kidney in three species of snake: a marine species with a salt gland (Laticauda semifasciata), a marine species without a salt gland (Nerodia clarkii clarkii) and a freshwater species without a salt gland (Nerodia fasciata). Both marine species maintained relatively constant plasma ions, even after acclimation to saltwater. By contrast, both plasma Cl– and mortality increased with salinity in the freshwater species. To investigate putative renal ion regulatory mechanisms, we examined the distribution and abundance of Na+/K+-ATPase (NKA) and the Na+/K+/2Cl– cotransporter (NKCC2). In all species, NKA localized to the basolateral membranes of the distal tubule and the connecting segments and collecting ducts only; there was no effect of salinity on the distribution of NKA or on the abundance of NKA mRNA in any species. NKCC2 protein was undetectable in the kidney of any of the species and there was no effect of salinity on NKCC2 mRNA abundance. We also examined the distribution and abundance of aquaporin 3 (AQP3) in the kidney of these species; although putative AQP3 localized to the basolateral membranes of the connecting segments and collecting ducts of all three species, there was no effect of salinity on the localization of the protein or the abundance of the transcript. Interestingly, we found very few differences across species, suggesting that the snake kidney may play a trivial role in limiting habitat use.
Role of Diversification Risk in Financial Bubbles

We present an extension of the Johansen-Ledoit-Sornette (JLS) model to include an additional pricing factor called the "Zipf factor", which describes the diversification risk of the stock market portfolio. Keeping all the dynamical characteristics of a bubble described in the JLS model, the new model provides additional information about the concentration of stock gains over time. This allows us to understand better the risk diversification and to explain the investors' behavior during the bubble generation. We apply this new model to two famous Chinese stock bubbles, from August 2006 to October 2007 (bubble 1) and from October 2008 to August 2009 (bubble 2). The Zipf factor is found highly significant for bubble 1, corresponding to the fact that valuation gains were more concentrated on the large firms of the Shanghai index. It is likely that the widespread acknowledgement of the 80-20 rule in the Chinese media and discussion forums led many investors to discount the risk of a lack of diversification, therefore enhancing the role of the Zipf factor. For bubble 2, the Zipf factor is found marginally relevant, suggesting a larger weight of market gains on small firms. We interpret this result as the consequence of the response of the Chinese economy to the very large stimulus provided by the Chinese government in the aftermath of the 2008 financial crisis.
Forecasting power market clearing price and quantity using a neural network method

Deregulation of the electric power industry worldwide raises many challenging issues. Forecasting the hourly market clearing prices (MCP) and quantities (MCQ) in daily power markets is the most essential task and basis for any decision making. One approach to predict the market behaviors is to use the historical prices, quantities and other information to forecast the future prices and quantities. The basic idea is to use history and other estimated factors in the future to "fit" and "extrapolate" the prices and quantities. Aiming at this challenging task, we developed a neural network method to forecast the MCPs and MCQs for the California day-ahead energy markets. The structure of the neural network is a three-layer back propagation (BP) network. The historical MCPs and MCQs of the California day-ahead energy market, the ISO load forecasts and other public information that may influence the markets are used for training, validating and forecasting test. Preliminary results show that our method is promising.
Biophysics of computation in single hippocampal neurons

A major application area of object-oriented databases is for design systems. Existing object-oriented data models surpass traditional models in modeling the complex structures and intricate relationships of design entities. However, they cannot address sufficiently the dynamic evolution and flexible versioning needs of actual design objects. This thesis presents a new object-oriented data model, called the object-centered data model, that satisfies the modeling requirements of design databases. In this model, objects are represented as independent structural entities and classes as structural constraints enforced for class membership. Objects can be dynamically associated with classes to inherit their behavioral definitions. It is shown that such a loose and non-permanent binding between objects and classes allows objects to evolve both in their structure and behavior during the design process. In spite of the dynamic nature of objects, strong typing can still be achieved by enforcing a minimum set of evolution rules. I also show that the model supports multiple and changing object classifications due to its capability for defining many separate class hierarchies in a database. Based on the object-centered data model, a version model supporting both object and schema versioning is also designed. In object versioning, the version model uses generic objects to group object versions of different structure and behavior so that the complete spectrum of the evolution process of design entities can be captured. In schema versioning, the model uses individual class hierarchy as the granularity of schema versioning. It greatly reduces the cost for sharing instances among different schema versions by considering schema versions as different views of their instances. For configuration specification of complex objects and classes, the model supports several forms of dynamic version references and a sophisticated context mapping mechanism. Finally, it incorporates a mechanism for enforcing a variety of versioning-related constraints to assure consistent evolution of versioned entities.
Gender differences when choosing between salary allocation options

Individuals chose between two ‘salary increase’ options: (1) an increase of $500 for themselves and $500 for a colleague; or (2) an increase of $600 for themselves and $800 for a colleague. The gender of the colleague was manipulated, hence permitting the investigation of four possible gender dyads (male-male, male-female, female-male, female-female). A main effect was found for the subjects' gender, namely a majority of women preferred option 1 while the majority of men preferred option 2. No interaction was found between the gender of the subjects and those of the colleagues.
Numerical Simulation of Metal Plasma Immersion Ion Implantation (MePIIID) on a Sharp Cone and a Fine Tip by a Multiple-Grid Particle-in-Cell (PIC) Method

A multiple-grid particle-in-cell (PIC) method in r-z cylindrical coordinates is developed to study metal plasma immersion ion implantation and deposition (MePIIID) of a sharp cone with a fine tip. At the boundary between the coarse and fine grids, the cells are subdivided into smaller regions so that the effective volume of each node does not overlap with each other when calculating the ion density from PIC weighting. In a previous paper, the ion dose, which is defined as the accumulated implanted ions per area, showed a sharp decrease near the cone tip [Cornet J. Appl. Phys., vol. 96, p. 6045, 2004]. However, the tip of the cone was described by only one single point. By applying a multiple-grid method to numerically simulate the MePIIID on a sharp cone with a fine tip, it is revealed that the highest dose is located at the center of the tip, and it is concluded that the sharp decrease in dose in a previous paper is an artifact of the single point. A multiple-grid system with three different cell sizes, i.e., 2, 1, and 0.5 mm, is used in the simulation. The tip of the cone is represented by a sphere in tangential contact with the edge of the cone
Developing Marine Protected Area Networks in the Coral Triangle: Good Practices for Expanding the Coral Triangle Marine Protected Area System

The Coral Triangle Marine Protected Area System aspires to become a region-wide, comprehensive, ecologically representative and well-managed system of marine protected areas (MPAs) and MPA networks. The development of this system will proceed primarily through the implementation of ecological, social, and governance MPA networks at the sub-national scale. We describe six case studies that exemplify different approaches taken to develop MPA networks in the Coral Triangle region at different scales: Nusa Penida in Indonesia; Tun Mustapha Park in Malaysia; Kimbe Bay in Papua New Guinea; Verde Island Passage in the Philippines; The Lauru Ridges to Reefs Protected Area Network in Choiseul, Solomon Islands; and Nino Konis Santana Park in Timor Leste. Through synthesis of these case studies, we identify five common themes that contributed to successful outcomes: (1) the need for multi-stakeholder and cross-level management institutions; (2) the value of integrating cutting-edge science with local knowledge and community-based management; (3) the importance of building local capacity; (4) using multiple-use zoning to balance competing objectives; and (5) participation in learning and governance networks. These lessons will be invaluable in guiding future efforts to expand the Coral Triangle Marine Protected Area System, and provide important insights for MPA practitioners elsewhere.
A Mixture Model for Longitudinal Data with Application to Assessment of Noncompliance

Summary. In clinical trials of a self‐administered drug, repeated measures of a laboratory marker, which is affected by study medication and collected in all treatment arms, can provide valuable information on population and individual summaries of compliance. In this paper, we introduce a general finite mixture of nonlinear hierarchical models that allows estimates of component membership probabilities and random effect distributions for longitudinal data arising from multiple subpopulations, such as from noncomplying and complying subgroups in clinical trials. We outline a sampling strategy for fitting these models, which consists of a sequence of Gibbs, Metropolis‐Hastings, and reversible jump steps, where the latter is required for switching between component models of different dimensions. Our model is applied to identify noncomplying subjects in the placebo arm of a clinical trial assessing the effectiveness of zidovudine (AZT) in the treatment of patients with HIV, where noncompliance was defined as initiation of AZT during the trial without the investigators' knowledge. We fit a hierarchical nonlinear change‐point model for increases in the marker MCV (mean corpuscular volume of erythrocytes) for subjects who noncomply and a constant mean random effects model for those who comply. As part of our fully Bayesian analysis, we assess the sensitivity of conclusions to prior and modeling assumptions and demonstrate how external information and covariates can be incorporated to distinguish subgroups.
Day-dependent step-count patterns and their persistence over 3 years in 8–10-year-old children: The LOOK project

Background: Physical activity in children is known to be generally lower at weekends but whether systematic day-to-day differences exist throughout the week is unclear. Aim: To determine if weekly patterns of pedometer-assessed physical activity (PPA) exist in elementary school-aged Australian boys and girls and whether they persist over 3 years. Subjects and methods: Seven-day pedometer measurements were recorded from 389 boys and 387 girls of initial age 8.0 (SD 0.3) in three successive years during spring. General linear mixed modelling was used to investigate patterns and the persistence of PPA. Results: A pattern did emerge, significant differences in PPA occurring between certain days of the week (p<0.001). This pattern was similar in each year, PPA increasing from Monday through to Friday, decreasing on Saturday and again on Sunday. PPA was greater in boys (p<0.001), but less so on weekends. Significant day-to-day and year-to-year intra-class correlations of PPA (0.14 and 0.29, respectively, both p<0.001)) within individuals provided evidence of tracking on a daily basis, and to a lesser extent yearly. Conclusions: A well-defined week-long pattern of steps/day emerged in these 8–10-year-old children, the pattern being similar in three consecutive years.
Use of 201 Tl SPECT imaging to assess the response to therapy in patients with high grade gliomas

Purpose. To assess the potential role of Tl single photon emission tomography (201-Thallium SPECT) when compared to other imaging modalities in the evaluation of the response to therapy in high grade gliomas. Materials and methods. Twenty patients with histologically proved high grade glioma have been included: 15 with glioblastoma (GBM), 3 with anaplastic astrocytoma (AA) and 2 with anaplastic oligoastrocytoma (AOA). Patients were assessed by Tl SPECT, computed tomography (CT) and magnetic resonance imaging (MRI) at (a) either at the moment of maximum response to first line chemotherapy, or after the completion of radiotherapy and chemotherapy if post-surgical residual disease was present, and (b) after the completion of second line chemotherapy if disease persisted, or either a relapse or disease progression was confirmed. Final response was evaluated according to the McDonald criteria, and by comparing SPECT, CT and MRI results. Results. According to the McDonald criteria, clinical response after first line chemotherapy was 5 partial response, 7 stable disease and 8 progressive disease. Evaluation by Tl SPECT was in agreement with such criteria in nearly all patients (90%). MRI findings closely agreed with the clinical follow-up. CT findings clearly differed from those observed by SPECT and MRI. After second line therapy, 10 patients progressed, 3 had stable disease and 7 had partial response. Tl SPECT agreed with the clinical status in 89% cases, whereas MRI and, specially CT, fared significantly lower. Conclusion. Compared to conventional neuroimaging, Tl SPECT added valuable information in the assessment of the response to therapy in our patient population; whenever findings were not conclusive and in the case of disagreement between CT and MRI findings.
Note—On the Timing of Greenhouse Gas Emissions Reductions: A Final Rejoinder to the Symposium on “The Economics of Climate Change: The Stern Review and its Critics”

In this final rejoinder to the symposium on "The Economics of Climate Change: The Stern Review and Its Critics," we respond to comments published in the last issue of this journal by Robert Mendelsohn, Thomas Sterner and U. Martin Persson, and John P. Weyant (Mendelsohn et al. 2008). In particular, we examine the point of debate with arguably the greatest practical importance for ongoing negotiations over an international agreement to succeed the Kyoto Protocol: namely the appropriate timing of global reductions in greenhouse gas emissions.
Listeriosis downregulates hepatic cytochrome P450 enzymes in sublethal murine infection

Listeria monocytogenes (Lm) can cross the intestinal barrier in humans and then disseminates into different organs. Invasion of the liver occurs even in sublethal infections, however, knowledge of affected physiological processes is scarce. This study employed a sublethal murine infection model to investigate liver responses systematically by proteomics.
Essential Oil from Fructus Alpiniae Zerumbet Protects Human Umbilical Vein Endothelial Cells In Vitro from Injury Induced by High Glucose Levels by Suppressing Nuclear Transcription Factor-Kappa B Signaling

Background In China, the essential oil of the fruit, Fructus Alpiniae zerumbet (FAZ), is used to treat cardiovascular diseases. Recent in vitro studies have shown that the essential oil of FAZ (EOFAZ) can protect endothelial cells from injury. Because of the prevalence of diabetes mellitus and its effects on the cardiovascular system, the aim of this study was to investigate the mechanism of the effects of EOFAZ on human umbilical vein endothelial cells (HUVECs) treated with high levels of glucose in vitro. Material/Methods The lactate dehydrogenase (LDH) leakage assay was used to detect HUVEC injury. Tumor necrosis factor-alpha (TNF-α), interleukin-8 (IL-8), and nuclear transcription factor-kappa B (NF-κB) p65 subunit DNA-binding activity was detected. The expression of NF-κB pathway-associated proteins, intercellular adhesion molecule-1 (ICAM-1), and vascular cell adhesion molecule-1 (VCAM-1) was studied by Western blotting. The cellular location of NF-κB in HUVECs was evaluated using immunofluorescence. Results Cell viability and LDH leakage assays showed that high glucose-induced HUVEC injury was reduced by EOFAZ. High glucose-induced secretion of IL-8, TNF-α, ICAM-1, and VCAM-1 was reduced, and translocation of the p65 subunit of NF-κB to the endothelial cell nucleus was inhibited by EOFAZ. Western blotting confirmed that EOFAZ blocked the activation of NF-κB induced by high glucose levels. EOFAZ reduced high glucose-induced p65/DNA binding to inhibit NF-κB activation. Conclusions The findings of this in vitro study showed that treatment of HUVECs with EOFAZ had a protective role against the effects of high glucose levels via the NF-κB signaling pathway.