Miracle-dz/UniFAR-FTUs huggingface dataset:
The Impact of Tax Rebates on Firm Value: Evidence from High-Tech Certificates Announcements in China

High technology and innovation has become a central part of China’s long-term growth strategy. The 2007 enterprise tax reform (EIT) significantly reduced the statutory tax rate of high-tech firms from 33 percent to at most 15 percent, and possibly less, guaranteed for at least 3 years. Before the reform, tax benefits to high-tech firms were only provided at the local level, were not available nationwide on a uniform basis, and subject to stringent financial criteria. In spite of the reform high-tech certificates have been criticized for being awarded to companies that were already enjoying tax benefits, in which case the reform only marginally changed their effective corporate tax rate. Using an event study methodology to study the stock market reaction to high-tech certificates announcements in China, we find that high high-tech certificate announcements generated significant positive abnormal returns. The impact is significantly larger for private firms than government-owned firm, because private firms were less likely to benefit from other pre-event tax benefits, as well as small and growth firms, and non-high tech manufacturing industries. Although this paper focuses on a specific provision of EIT reform, it is one of the first empirical evaluations of the reform and the first study that investigates whether the reform in high-tech taxation was effective at reaching non government-owned firms.
Backscatter Compensation in IFOG Based Inertial Measurement Units With Polymer Phase Modulators

Precision guidance in navigation systems requires highly accurate, compact, and low cost inertial measurement units (IMUs). The key active guided-wave component of the IMU is the phase modulator. In our approach, electro-optic polymers have been utilized in fabricating low loss phase modulators with low half-wave drive voltage using advanced hybrid waveguide fabrication processes and novel optical integration techniques. However, the interference between the primary wave and the backscatter waves generated by the phase modulator and/or the interference between the two counter-propagating backscatter waves at the detector of the IMU has been a major source of error in this approach. A novel technique was introduced in assessing the error caused by backscatter and an offset waveguide design was developed to suppress the interference of backscatter light. The novel design not only preserved the miniaturization, but also improved the insertion loss with the use of a shorter waveguide. The gyro level tests performed with the backscatter compensated modulators showed about 5 times improvement of the average bias uncertainty over gyros integrated with a standard symmetric phase modulator.
Continuous improvement in public services ‐ a way forward

There are a number of approaches to service quality. Rather than discussing their individual merits and demerits, it is perhaps more fruitful to look to their integration and the extent to which they can be linked and serve one another. This paper aims to do just that. Inevitably the techniques considered have to be limited, but their interrelationship is made clear and their development potential highlighted. The particular quality tools illustrated are the Servqual model and quality function deployment (QFD), with process mapping serving as an intermediary tool for QFD. Three public service case examples are used to illustrate their successful use to date. Servqual measures both external customer/service provider expectations and perceptions and the existence or not of (in)formal standards, whilst QFD translates these results and measurements into organisational solutions in terms of product/service design, ensuring organisational standards to deliver what is required and helping to define a strategic planning process. Both of these quality management tools have been tested and used to positive advantage in the private sector. Their applicability to the public sector is being increasingly confirmed and they do offer a way forward for the future in terms of achieving the difficult and never‐ending task of continuous improvement in public services.
Hyperbaric biofilms on engineering surfaces formed in the deep sea

Biofouling is a major problem for long-term deployment of sensors in the marine environment. This study showed that significant biofilm formation occurred on a variety of artificial materials (glass, copper, Delrin™ and poly-methyl methacrylate [PMMA]) deployed for 10 days at a depth of 4700 m in the Cayman Trough. Biofilm surface coverage was used as an indicator of biomass. The lowest biofilm coverage was on copper and PMMA. Molecular analyses indicated that bacteria dominated the biofilms found on copper, Delrin™ and PMMA with 75, 55 and 73% coverage, respectively. Archea (66%) were dominant on the glass surface simulating interior sensor conditions, whereas Eukarya comprised the highest percentage of microflora (75%) on the glass simulating the exterior of sensors. Analysis of Denaturing Gradient Gel Electrophoresis profiles indicated that copper and Delrin™ shared the same community diversity, which was not the case for glass and PMMA, or between PMMA and copper/Delrin™. Sequence alignment matches belonged exclusively to uncultivable microorganisms, most of which were not further classified. One extracted sequence found on glass was associated with Cowellia sp. , while another extracted from the PMMA surface was associated with a bacterium in the Alterominidaceae, both γ-proteobacteria. The results demonstrate the necessity of understanding biofilm formation in the deep sea and the potential need for mitigation strategies for any kind of long-term deployment of remote sensors in the marine environment.
Space charge accumulation and induced mechanical deformation in organic insulator films

Induced mechanical deformations of organic insulator films polarized by electrical field using the Digital Image Correlation (DIC) method are presented in this work. First the validation of the technique is undertaken. Computer-generated speckle images and measurement of the coefficient of thermal expansion (CTE) for aluminum are used to evaluate the measurement accuracy of the technique. In a second part, the technique is applied to measure the mechanical deformation induced by an electrical field application to polymer films polarized by electrical field. The presence of space charge within the tested sample is detected by Focused Laser Intensity Modulation Method (FLIMM). The results show that the mechanical behavior of the polarized sample is modified by the presence of space charge.
An Improved Platform for Multi-Agent Based Stock Market Simulation in Distributed Environment

Multi-agent based simulation has been widely used in behavior finance, and several single-processed simulation platforms with Agent-Based Modeling (ABM) have been proposed. However, traditional simulations of stock markets on single processed computers are limited by the computing capability since financial researchers need larger and larger number of agents and more and more rounds to evolve agents’ intelligence and get more efficient data. This paper introduces a distributed multi-agent simulation platform, named PSSPAM, for stock market simulation focusing on large scale of parallel agents, communication system and simulation scheduling. A logical architecture for distributed artificial stock market simulation is proposed, containing four loosely coupled modules: agent module, market module, communication system and user interface. With the customizable trading strategies inside, agents are deployed to multiple computing nodes. Agents exchange messages with each other and with the market based on a customizable network topology through a uniform communication system. With a large number of agent threads, the round scheduling strategy is used during the simulation, and a worker pool is applied in the market module. Financial researchers can design their own financial models and run the simulation through the user interface, without caring about the complexity of parallelization and related problems. Two groups of experiments are conducted, one with internal communication between agents and the other without communication between agents, to verify PSSPAM to be compatible with the data from Euronext-NYSE. And the platform shows fair scalability and performance under different parallelism configurations. key words: distributed stock market simulation, agent-based modeling, round scheduling, distributed
When to Take or Forgo New Product Exclusivity: Balancing Protection from Competition against Word-of-Mouth Spillover

Manufacturers or resellers introducing a new product often must decide whether and for how long to be its exclusive seller. Standard models of competition and conventional wisdom suggest that exclusivity boosts profits. However, using both agent-based simulations and game-theoretic modeling, the authors find that positive word of mouth (WOM) from customers of rival firms can make exclusivity unprofitable. This reversal of conventional wisdom occurs because WOM creates a positive externality, and a firm holding exclusivity cannot benefit from the WOM spillover generated by customers of other firms. The benefits of forgoing exclusivity are magnified by (1) the presence of locked-in customers who consider buying from only a single firm, (2) the extent to which opinion leaders are among a firm's own locked-in customers rather than those of competitors, and (3) customers’ low price sensitivity. In addition, firms sometimes benefit from forgoing exclusivity even without WOM from rivals’ customers, but only when the combination of large-scale lock-in, high price sensitivity, and strong WOM among the firm's customers exists.
Synephrine and phenylephrine act as α‐amylase, α‐glycosidase, acetylcholinesterase, butyrylcholinesterase, and carbonic anhydrase enzymes inhibitors

In this paper, synephrine and phenylephrine compounds showed excellent inhibitory effects against human carbonic anhydrase (hCA) isoforms I and II, α‐amylase, α‐glycosidase, acetylcholinesterase (AChE), and butyrylcholinesterase (BChE). Synephrine and phenylephrine had Ki values of 199.02 ± 16.01 and 65.01 ± 5.00 μM against hCA I and 336.02 ± 74.01 and 92.04 ± 18.03 μM against hCA II, respectively. On the other hand, their Ki values were found to be 169.10 ± 80.03 and 88.03 ± 5.01 nM against AChE and 177.06 ± 6.01 and 78.03 ± 3.05 nM against BChE, respectively. α‐Amylase and α‐glycosidase enzymes were easily inhibited by these compounds. α‐Glycosidase inhibitors, generally defined to as starch blockers, are anti‐diabetic drugs that help to decrease post comestible blood glucose levels.
On the use of contingent claims in portfolio selection problems

In this paper we propose some portfolio selection models with contingent claims to invest either in the fixed income market or in the stock option market. Firstly, we describe a possible solution of the portfolio choice problem in the fixed income market taking into account the default risk. With this purpose, we consider CDSs contracts to hedge the default risk of investments in bonds. Secondly, we use European options in two distinct portfolio problems: in a reward-risk portfolio framework, to hedge the underlying portfolio risk of some stock indexes. Since we use a large number of trading European option written on principal international stock indexes, we discuss how to reduce the dimensionality of the large-scale portfolio problems taking into account the liquidity of the options. Finally, we propose an ex post empirical analysis of different portfolio models with contingent claims. Keywords—contingent claims, credit default swaps, default risk, hedge strategy, performance strategy. HE objective of this paper is twofold. We discuss and we evaluate portfolio strategies using contingent claims in two different markets: the fixed income market and the stock option market. In the fixed income market, we describe the classical strategy based on the immunization principles and we proposed strategies that use credit default swaps (CDSs) to hedge the default risk. In the stock option market, we describe portfolio strategies with only options either to hedge the market risk of some stock indexes or for speculative scopes. In the last decade, a deep process of transformation and innovation in which the financial engineering has introduced and developed new financial instruments and markets has characterized the financial international system. Among new financial contracts, we analyze the CDSs and the options applied in different markets (fixed income market and stock option market). The CDSs allow transferring the risk of insolvency. In particular, a subject that has a credit exposure towards a counterpart considered unreliable transfer the risk of insolvency to another operator willing to assume this risk.
Patterns and Perceptions of Asynchronous Video Discussion in a Graduate Health Sciences Course.

BACKGROUND Studies of graduate online education indicate a need for increased interaction among students and faculty. However, it can be challenging to foster a high level of scholarly interaction and engagement in fully online courses. The objective of this study was to evaluate student perceptions and participation patterns related to online, asynchronous video discussion in a graduate health sciences course. METHOD An asynchronous video discussion was piloted in a 2014 interprofessional informatics course and students were subsequently surveyed to determine their perceptions of this approach. Participation patterns were analyzed using descriptive statistics and social network analysis. RESULTS The results indicate broad and inclusive interaction among students and faculty, with discussion characteristics perceived as equivalent to, or better than, traditional classroom discussion. The quality of student participation was high, and students spent additional time researching and preparing their contributions. CONCLUSION This format for a seminar-style discussion holds good potential for effective teaching and learning in online graduate-level health courses and supports the development of students' critical thinking and scholarly communication skills. [J Nurs Educ. 2016;55(12):706-710. ].
Integration of social networking sites (with focus on Facebook) into CRM

This study provides the background of social networking sites, and integration of one of their applications (Facebook) into customer relationship management. Since technological advances change and improve the way people communicate with each other that may also have effects on relationship building. Apart from being used for connecting, entertaining, social networking sites are deployed for supporting business activities by many organisations, such as advertising, promoting brand. However, they are still limited in the use of reinforcing customer relationships. The aims of the research were to figure out businesses’ attitudes towards combining Facebook with customer relationship management, and to examine its usage and effectiveness in reinforcing company-customer relationships. The research was conducted by quantitative method with the questionnaire survey sent to companies chosen as participants in the city of Kuopio, Finland. The research results indicates Facebook has not attracted both companies’ and their customer attention that leads to narrow focus on interaction between the two parties across Facebook. Nonetheless, the results cannot reach generalisation about Facebook usage in Kuopio business context. Based on the research, further study is suggested to improve the outcome by designing questionnaires in both English and Finnish since English is not utilised commonly in those businesses. Moreover, answer options should be shortened, and some questions need changing their types in order to maximise response rate as well as gain more in-depth understanding of relationship reinforcement-related activities across Facebook from participants’ perspectives.
Sequence-based CYP2D6 Genotyping in the Korean Population

For clinical application of pharmacogenetic tests, quantitative prediction of enzyme activity based on accurate determination of genotype is essential. There has been limited information available on the genetic polymorphism of CYP2D6 in the Korean population. In this study, CYP2D6 genotypes were assessed in 400 Korean subjects. Twenty-eight different CYP2D6 alleles and 35 genotypes were detected. On the basis of the genotype determined, the frequency of poor metabolizers and ultrarapid metabolizers were 0.22% and 1.25%, respectively. The CYP2D6 activity expected in regard to different allele combinations varies widely within the extensive and intermediate metabolizer groups. The frequencies of CYP2D6*10 and CYP2D6*5 were 45.00% and 6.13%, respectively. CYP2D6*10xN was found in 4 out of 9 cases with a CYP2D6 duplication. Fifteen heterozygotes for *41 were noted. In addition, the authors measured plasma concentrations of 16 healthy volunteers after administration of nortriptyline and identified the impact of the CYP2D6 genotype on nortriptyline metabolism. This is the first large-scale study to examine the genetic polymorphism of CYP2D6 using sequence-based genotyping in an Asian population. Our results further the understanding of CYP2D6 pharmacogenetics and could be helpful for future clinical studies in the Asian population.
The Value to Management of Using the Internal Audit Function as a Management Training Ground

SYNOPSIS This study examines how using the internal audit function as a management training ground (MTG) impacts managers' reliance on internal auditor recommendations. While prior research suggests that using internal audits as a MTG can adversely affect financial reporting quality, external audit fees, and internal audit efficiency, many internal audit functions use this practice. We study how this practice influences another important stakeholder—senior management. Based on survey results of 355 chief audit executives (CAEs), we find that CAEs perceive senior management to be more likely to use recommendations from MTG internal auditors than non-MTG internal auditors. To bolster the validity of these findings and provide evidence as to why this is the case, we conduct two experiments with 147 executives (47 MTurk workers) with an average of about 25 (13) years of experience. The experimental results confirm the survey results. We also find that the key reason why managers rely more on MTG than non-MTG .
Examining customer privacy concerns in dealings with financial institutions

Purpose – This paper aims to develop a customer typology based on consumer attitude towards information privacy and examine the driving factors of privacy concern.Design/methodology/approach – A sample of 456 Australian consumers who have applied for a credit card or mortgage is used in this study. Consumer concern with privacy statements, the privacy legislation at the federal level, trust and the willingness to disclose personal information for some form of compensation are used as drivers of consumer privacy in regression analysis. These variables are used in cluster analysis in order to segment financial consumers.Findings – The results indicate that that the level of privacy concern is primarily driven by trust that far outweighs any concerns with privacy statements and the provision of nationally legislated safeguards. Furthermore, a cluster analysis reveals three distinctive customer segments in the domain of financial services: the pragmatist, indifferent, and competent.Originality/value – This st.
C-reactive protein, fibrinogen, and cardiovascular disease prediction.

BACKGROUND There is debate about the value of assessing levels of C-reactive protein (CRP) and other biomarkers of inflammation for the prediction of first cardiovascular events. METHODS We analyzed data from 52 prospective studies that included 246,669 participants without a history of cardiovascular disease to investigate the value of adding CRP or fibrinogen levels to conventional risk factors for the prediction of cardiovascular risk. We calculated measures of discrimination and reclassification during follow-up and modeled the clinical implications of initiation of statin therapy after the assessment of CRP or fibrinogen. RESULTS The addition of information on high-density lipoprotein cholesterol to a prognostic model for cardiovascular disease that included age, sex, smoking status, blood pressure, history of diabetes, and total cholesterol level increased the C-index, a measure of risk discrimination, by 0.0050. The further addition to this model of information on CRP or fibrinogen increased the C-index by 0.0039 and 0.0027, respectively (P<0.001), and yielded a net reclassification improvement of 1.52% and 0.83%, respectively, for the predicted 10-year risk categories of "low" (<10%), "intermediate" (10% to <20%), and "high" (≥20%) (P<0.02 for both comparisons). We estimated that among 100,000 adults 40 years of age or older, 15,025 persons would initially be classified as being at intermediate risk for a cardiovascular event if conventional risk factors alone were used to calculate risk. Assuming that statin therapy would be initiated in accordance with Adult Treatment Panel III guidelines (i.e., for persons with a predicted risk of ≥20% and for those with certain other risk factors, such as diabetes, irrespective of their 10-year predicted risk), additional targeted assessment of CRP or fibrinogen levels in the 13,199 remaining participants at intermediate risk could help prevent approximately 30 additional cardiovascular events over the course of 10 years. CONCLUSIONS In a study of people without known cardiovascular disease, we estimated that under current treatment guidelines, assessment of the CRP or fibrinogen level in people at intermediate risk for a cardiovascular event could help prevent one additional event over a period of 10 years for every 400 to 500 people screened. (Funded by the British Heart Foundation and others.).
Progress in Vibrational Spectroscopic Studies , NMR and NBO Calculations of 3-Hydroxy BenzylidyneTrifluoride

Studies of benzylidyne and its derivatives are of great interest due to their biological, pharmaceutical and industrial importance. In the present investigation, the vibrational wave numbers, geometrical parameters, modes of vibrations, minimum energy, NBO and 1H and 13C NMR chemical shifts of 3-Hydroxy benzylidyne Trifluoride (3HBT) are calculated with DFT/ B3LYP level of theory with 6-31+G(d) and 6-31++G(d) basis sets. The FT-IR spectrum of 3HBT is recorded in the range of 4000–400 cm and the FT-Raman spectrum is recorded in the 3500–50 cm Stokes region. The systematic comparison of the results from DFT theory with results of experiments has shown that the method using B3LYP functional is the most promising in providing correct vibrational wave numbers.