Miracle-dz/UniFAR-FTUs huggingface dataset:
Asset Write-downs: Evidence from 2001–2008

Accounting for asset write-downs has received substantial media attention throughout the Global Financial Crisis and has been the subject of academic debate and numerous accounting regulations during the past three decades. This study provides evidence of the magnitude and frequency of quarterly asset write-down activities for a sample of US firms between 2001 and 2008 and examines whether reported asset write-downs mirror market and economic indicators during the sample period.
Accelerated Vesting of Employee Stock Options in Anticipation of FAS 123-R*

ABSTRACT In December 2004, the Financial Accounting Standards Board (FASB) mandated the use of a fair value-based measurement attribute to value employee stock options (ESOs) via Financial Accounting Standard (FAS) 123-R. In anticipation of FAS 123-R, between March 2004 and November 2005, several firms accelerate the vesting of ESOs to avoid recognizing existing unvested ESO grants at fair value in future financial statements. We find that the likelihood of accelerated vesting is higher if (1) acceleration has a greater effect on future ESO compensation expense, especially related to underwater options, and (2) firms suffer greater agency problems, proxied by fewer blockholders, lower pension fund ownership, and top five officers holding a greater share of ESOs. We also find a negative stock price reaction around the announcement of the acceleration decision. Furthermore, stock returns are significantly negative before the new vesting dates and positive afterward, suggesting that vesting dates could have been backdated. Copyright (c), University of Chicago on behalf of the Institute of Professional Accounting, 2008.
Determinants of Capital Structure: An Empirical Analysis of Firms In Industrialized Countries

This paper examines the determinants of capital structure of large corporations of industrialized countries (excluding financial institutions and regulated utilities), using five years of data ending in 1992. The study employs variables reflecting differing theoretical arguments on capital structure. We find evidence similar to previous empirical research using data for American companies. In particular, the pecking order theory of capital structure, with past profitability being the major determinant of leverage, is supported. For U.S. firms, but not for Japanese firms, tax factors also appear to be important determinants of capital structure. In general, variables proxying for firm size and growth also appear to be significant variables in explaining capital structure variations. Corporations from Germany and Italy appear to be most different from the American companies, with the former having lower and the latter higher leverage ratios relative to the U.S. corporations. Japanese companies appear to use less long‐term leverage, a result that is consistent with the close ties between Japanese firms and their banks — a relationship that permits a greater use of short‐term financing than is true in the U.S.
A 3′-Truncated Transferrin Messenger RNA Is Expressed in Rat Testicular Germ Cells1

Abstract Rat germ cells express a 0.9-kilobase (kb) message with a sequence similar to that of the 3′ portion of mammalian transferrins. The sequence of this transcript, called hemiferrin, was considered unique, suggesting that it was encoded by a gene different from that of rat transferrin. Difficulties in conducting experiments using hemiferrin sequence primers led us to question the original sequence. Ribonuclease protection assays revealed that the hemiferrin sequence provided protection only for bovine sequences and not for rat mRNA. Conversely, a 3′ rat transferrin sequence protected only rat liver and testis RNA sequences and not bovine sequences, indicating that the 0.9-kb transcript in germ cells is a truncated form of rat transferrin. Western analysis and immunoprecipitation of germ cell proteins metabolically radiolabeled in vitro and in vivo failed to detect a protein of the predicted size regardless of whether anti-rat transferrin or anti-hemiferrin antibodies were used. The findings suggest that a foreshortened transcript of the transferrin gene is produced in rat germ cells and that little or no protein is made from that transcript.
Non-Invasive Assessment of Liver Fibrosis by Fibro-Acti Test in Comparison to Liver Biopsy in Chronic Hepatitis C with and without Schistosoma Mansoni

Liver biopsy is the gold-standard method to stage fibrosis; however, it is an invasive procedure and is potentially dangerous. Fibro Test and Acti Test are noninvasive tests used in determining the level of fibrosis and the degree of necroinflammatory activity in the liver. Thirty patients were included in this study. For each patient, serum samples were obtained and liver needle biopsies were performed. Levels of fibrosis were assessed using both Fibro and liver biopsy tests. Similarly, levels of cirrhosis were detected using ActiTest and liver biopsies. Interestingly, we found a significant positive correlation between fibrosis estimated by biopsy and the level of fibrosis in Fibro Test. Fibrosis stages estimated by fibro test were identical to fibrosis obtained by the liver biopsy. On the other hand, the activity grades of cirrhosis estimated by Acti test showed a 77 % match to that obtained by the liver biopsy. In conclusion, FT-ACT is the only test in which results are reported for determination of the degree of fibrosis, necrosis prognostics and treatment planning purposes of liver diseases.
Ruling on the "crunch issues" of land use, land-use change and forestry: impacts on project viability

Carbon sequestration in forests is undoubtedly one of the most controversial issues of the Kyoto Protocol. Whilst there is agreement that temporary carbon storage in forests contributes to delaying climate change, there is still much controversy about the rules and procedures that should be implemented to give credits to afforestation and reforestation activities under the Clean Development Mechanism (CDM). This paper analyses the viability of two reforestation projects in Nicaragua and Honduras under different scenarios of carbon accounting methodologies, prices for Certified Emission Reductions (CERs), and levels of leakage and risks associated with the projects. Analysis of the scenarios shows that the financial viability of the projects is a function of the carbon accounting methodology used. The current price of CO2 and the rules that are being proposed to address the "crunch issues" of Land Use, Land-Use Change and Forestry (LULUCF) will inevitably exclude small scale projects from the CDM.
AN INVESTIGATION INTO THE ROLE OF THE MARKET PORTFOLIO IN THE ARBITRAGE PRICING THEORY

This paper investigates the role of the market portfolio in the arbitrage pricing theory. The authors show that if the multifactor return-generating process put forth in the arbitrage pricing theory is valid, then unexpected deviation in the return on the market portfolio must be completely explained by unexpected deviations in the underlying return-generating factors. As well, market betas are developed as a combination of return-generating factor sensitivity coefficients. These results lead them to conclude that an empirically significant "market factor" is evidence of omitted return-generating factors, rather than evidence that the market is a factor. Finally, results obtained when market betas are regressed against factor sensi tivity coefficients are consistent with these insights. The results s uggest that there are at least three return-generating factors. This evidence does not rely on ex post pricing of estimated factors. Copyright 1988 by MIT Press.
The role of psychological distance in value creation

Purpose – The field of service research has devoted considerable attention to the customer’s role as value creator, but there is a lack of research on understanding customers’ psychological processes in value creation. The purpose of this paper is to highlight the importance of psychological distance in value-creation processes. Psychological distance is the customer’s perceived distance from service interactions in terms of spatial distance, temporal distance, social distance and hypothetical distance. Critically, psychological distance influences cognitive processes and can influence how customers think and feel about the service interaction. An appreciation of psychological distance within service contexts can help managers to tailor the interaction in order to facilitate value creation. Design/methodology/approach – In this conceptual paper, the authors build on psychology research and service research to develop seven propositions that explore how psychological distance can operate within service int.
Towards microfluidic technology-based MALDI-MS platforms for drug discovery: a review

Background: Microfluidic methods have found applications in various disciplines. It has been predicted that the microfluidic technology would be useful in performing routine steps in drug discovery ranging from target identification to lead optimisation in which the number of compounds evaluated in this regard determines the success of combinatorial screening. The sheer size of the parameter space that can be explored often poses an enormous challenge. Objective: We set out to find how close we are towards the use of integrated matrix-assisted laser desorption/ionisation mass spectrometry (MALDI-MS) microfluidic systems for drug discovery. Methods: In this article we review the latest applications of microfluidic technology in the area of MALDI-MS and drug discovery. Results/conclusions: Our literature survey revealed microfluidic technologies-based approaches for various stages of drug discovery; however, they are in still in developmental stages. Furthermore, we speculate on how these technologies could be used in the future.
Miniaturized microstrip-fed "Dark Eyes" antenna for near-field microwave sensing

This letter presents a parametric study of a miniaturized, microstrip-fed "Dark Eyes" antenna for pulsed biological sensing. The antenna is considered to be in a medium with dielectric properties similar to those of biological materials. The planar antenna can be easily manufactured using printed circuit board technology with thin-film resistive layers. Analysis indicates fidelity above 0.92 and broadband characteristics. The simulated efficiency, return loss, radiation patterns, and the near-field electric-field vector magnitude are also presented.
Single nucleotide polymorphism discovery in albacore and Atlantic bluefin tuna provides insights into worldwide population structure.

The optimal management of the commercially important, but mostly over-exploited, pelagic tunas, albacore (Thunnus alalunga Bonn., 1788) and Atlantic bluefin tuna (BFT; Thunnus thynnus L., 1758), requires a better understanding of population structure than has been provided by previous molecular methods. Despite numerous studies of both species, their population structures remain controversial. This study reports the development of single nucleotide polymorphisms (SNPs) in albacore and BFT and the application of these SNPs to survey genetic variability across the geographic ranges of these tunas. A total of 616 SNPs were discovered in 35 albacore tuna by comparing sequences of 54 nuclear DNA fragments. A panel of 53 SNPs yielded FST values ranging from 0.0 to 0.050 between samples after genotyping 460 albacore collected throughout the distribution of this species. No significant heterogeneity was detected within oceans, but between-ocean comparisons (Atlantic, Pacific and Indian oceans along with Mediterranean Sea) were significant. Additionally, a 17-SNP panel was developed in Atlantic BFT by cross-species amplification in 107 fish. This limited number of SNPs discriminated between samples from the two major spawning areas of Atlantic BFT (FST = 0.116). The SNP markers developed in this study can be used to genotype large numbers of fish without the need for standardizing alleles among laboratories.
Industrial restructuring and manufacturing homework: immigrant women in the UK clothing industry

This article argues that recent government and other studies have failed to identify the proliferation of home-work and small sweat shops in the clothing industry in the UK. Swasti Mitter dismisses the argument that recent changes in labour/output ratios can be explained by increased labour productivity in the clothing industry, suggesting instead that an increasing proportion of output is being shifted from factories to the unregulated sector whose workers do not appear in official estimates of the labour force. She argues that the trends in retail organisation and competition have led to subcontracting as a rational strategy for cost minimisation as has occurred in other European countries, particularly in Italy. And that the insecurity of immigrant women within the British state, together with their position within their own communities makes them a suitable source of labour for the 37 unregulated sector where they are vulnerable to exploitative working conditions and pay with little recourse to protection either from the state or trade unions.
Continual Maintenance of Remission Defined by the ACR/EULAR Criteria in Daily Practice Leads to Better Functional Outcomes in Patients with Rheumatoid Arthritis

Objective. To evaluate longterm functional outcomes in rheumatoid arthritis (RA) based on the number of times that the American College of Rheumatology (ACR)/European League Against Rheumatism (EULAR) or the 28-joint Disease Activity Score (DAS28) remission criteria were fulfilled. Methods. Patients with RA who participated in all 6 data collections in an observational cohort from 2008 to 2010 and who fulfilled the DAS28 remission criteria at baseline were studied. Patients were classified by the number of times they fulfilled the ACR/EULAR [Boolean trial, Boolean practice, Simplified Disease Activity Index (SDAI), or Clinical Disease Activity Index (CDAI)] or DAS28 remission criteria at each collection. The OR for the Japanese version of the Health Assessment Questionnaire (J-HAQ) progression, based on the number of times each set of remission criteria was fulfilled, were calculated by logistic regression. Results. A total of 915 patients were studied. The OR (95% CI) for J-HAQ progression were 0.54 (0.33–0.87), 0.55 (0.33–0.92), 0.48 (0.28–0.82), 0.29 (0.16–0.51), 0.24 (0.13–0.47), and 0.07 (0.03–0.15) for those fulfilling the Boolean trial remission from 1 to 6 times. This tendency was also observed for the other 4 criteria. The OR (95% CI) for J-HAQ progression in patients who achieved remission at all 6 data collections were 0.07 (0.03–0.14) for the Boolean practice, 0.10 (0.05–0.20) for the SDAI, and 0.07 (0.04–0.15) for the CDAI, whereas 0.15 (0.08–0.29) for the DAS28. Conclusion. Continual fulfillment of any remission criteria was strongly effective in preventing patients from progression of functional disability; however, the ACR/EULAR criteria appear to be preferable.
Variation in Part-Time Job Quality Within the Nonprofit Human Service Sector

This article extends the growing literature on the quality of part-time employment to the domain of nonprofit human services, specifically grassroots organizations in which paid work is itself a relatively new reality. It addresses three central questions: How do part-time and full-time workers differ in their personal and household characteristics? How do part-time jobs differ in access to employment benefits from their full-time counterparts; and finally, How does benefits access vary among part-time job titles? These lines of inquiry are examined using data from the populations of nonprofit domestic violence programs and their employees in a large midwestern metropolitan area. Analyses of worker-level data reveal that part-time workers in these settings disproportionately live with children, are in committed relationships, and report a strong preference for employment that facilitates work-life balance; they are also less likely to be primary household wage earners. Analyses at the level of jobs suggest that employment benefits extended to part-time jobs are minimal compared to their full-time equivalents, but there are also striking variations among different part-time titles. The results offer insights into the nature of part-time work in these nonprofit human service settings and potential challenges for effective management.
Economic analysis of food-borne diseases control program in Australia

Purpose – Food safety is an important means for controlling food-borne diseases. While there are various procedures for food safety, HACCP-based procedure has been considered as an efficient method for food-safety. In Australia the introduction of HACCP-based food-safety measures has been recommended in particular for meat and meat products to replace the traditional organoleptic meat inspection procedure. Aims to estimate the costs and benefits. Design/methodology/approach – Employing tools of social cost benefit analysis, this paper estimates the worth of the HACCP-based food-safety program. The analysis was carried out assuming five alternative scenarios with 3, 5, and 7 per cent interest rates. Findings – The results of this study show that the HACCP-based food-safety programs are expected to generate net benefit to the society if the effectiveness ranged between 20 and 90 per cent. However, at the 10 per cent level of effectiveness, net benefit turns into net social loss. Originality/value – Provides details of the costs and benefits of the HACCP-based food-safety programs in Australia.
Successful generational change in family business

Purpose – Family businesses (FBs) share common characteristics and face common problems, among which the generational change is recognized to be the most relevant one. During recent years, there has been a growing interest in the study of FBs. Notwithstanding, little attention has been paid to succession planning, and only few studies tried to identify which factors influence its success. The aim of this paper is to identify which factors may influence the succession process.Design/methodology/approach – First a literature review is conducted, aiming to identify the main phases of a succession process and the factors that are relevant for its planning and management. Then, ten case studies of Italian FBs are analyzed.Findings – The result is the development of a research framework and the identification of the factors that impact on the generational change's success. Moreover, best practices that emerge from the case studies are presented.Research limitations/implications – The main limitation refers to t.
Improving Jurors' Evaluations of Auditors in Negligence Cases*

Prior research indicates that individuals acting as jurors experience outcome effects in audit negligence litigation. That is, jurors evaluate auditors more harshly in light of negative outcomes, even when audit quality is constant. I posit that outcome effects in this setting are caused by jurors using their negative affect (i.e., feelings) resulting from learning about negative audit outcomes as information relevant to auditor blameworthiness. I tested this hypothesis in an experiment in which I manipulated audit quality, outcome information and provision of an attribution instruction. The attribution instruction was designed to discredit negative affect as a cue to auditor blameworthiness. Consistent with expectations, attribution participants' evaluations of auditors exhibited less reliance on outcome information and more reliance on audit quality information than did evaluations made by control participants. In fact, outcome effects were eliminated for attribution participants. Courts may be able to improve the quality of jurors' decisions in such cases by employing an attribution instruction.
Solitary plexiform neurofibroma, a pitfall in diagnosis of lipoma

Plexiform neurofibromatosis is almost invariably associated with neurofibromatosis type I. A case of an isolated back plexiform neurofibroma, initially thought to be a lipoma, is presented, with emphasis on the importance of eliciting family history in reaching a diagnosis of neurofibromatosis. Currently, surgical resection is still the treatment of choice though a management plan is not well defined. Patients need appropriate regular follow-up to detect malignancy or early recurrence.
Hedonic valuation of land protection methods: implications for cluster development

This study estimates a generalized spatial hedonic pricing model to assess how residential property values are impacted by inclusion within cluster developments and by proximity to various types of protected land. The estimated model simultaneously controls for the spatial dependence of residential housing prices and for the presence of spatial autocorrelation. The sample includes 4,008 single-family housing sales transactions within the non-urban portions of Larimer County in northern Colorado. The empirical framework accounts for topographical diversity across the study region, as well as distinguishing between several distinct types of publicly and privately protected land. The key findings of the study are: (i) proximity to national or state park land and to city or county open space has a significant positive impact on property values, while proximity to national forest land or to privately conserved land exhibits no significant effects; and, (ii) inclusion of a property within a cluster development decreases its value by 17 to 26 %. These findings are robust to different estimation techniques and model specifications, which suggests important considerations for policymakers who design development rules and alternative land protection measures aimed at preserving open space in non-urban areas.
Bank Corporate Governance and Real Estate Lending During the Financial Crisis

This paper examines the effects of bank corporate governance on real estate lending and loan losses during the recent financial crisis. The results indicate that banks with stronger corporate governance mechanisms had higher profitability during the period 2006-2009. Our findings on the effects of corporate governance on real estate lending performance are mixed and depend on the definition of the crisis period. Although banks with stronger governance practices had a lower amount of real estate loan losses during 2006-2008, our results also show that these banks experienced significantly larger losses in 2009.
The Incremental Information Content of SEC 10-K Reports Filed under the EDGAR System

This paper examines the incremental information content of disclosures in the 10-K reports filed with the SEC through the EDGAR system with a research design that explicitly controls for cross-sectional differences in the informativeness of current and prior disclosures. More specifically, we investigate (1) whether stock returns exhibit abnormal behavior when the 10-K reports are filed with the SEC through the EDGAR system and (2) whether there exist preemptive and delayed market responses to disclosures in these reports. We also run tests for the pre-EDGAR 10-K reports submitted through the paper filing system to compare our results with those of prior studies. Our empirical results indicate that the 10-K report filed through the EDGAR system contains incremental information while the 10-K report filed through the prior paper filing system does not. This provides empirical evidence in support of the advantage of the EDGAR system over the previous paper filing system in disseminating information to investors in a timely fashion.