Miracle-dz/UniFAR-FTUs huggingface dataset:
Mirror, Mirror on the Wall: Machine Predictions and Self-Fulfilling Prophecies

We show that disclosing machine predictions to affected parties can trigger self-fulfilling prophecies. In an investment game, we experimentally vary investors’ and recipients’ access to a machine prediction about recipients’ likelihood to pay back an investment. Recipients who privately learn about an incorrect machine prediction alter their behavior in the direction of the prediction. Furthermore, when recipients learn that an investor has disregarded a machine prediction of no-repayment, this further lowers the repayment amount. We interpret these findings as evidence that transparency regarding machine predictions can alter recipients’ beliefs about what kind of person they are and what investors expect of them. Our results indicate that providing increased access to machine predictions as an isolated measure to alleviate accountability concerns may have unin- tended negative consequences for organizations by possibly changing customer behavior.
Truthfulness in Accounting: Analysis of Earning Manipulation in Pakistani Firms.

The purpose of this study is to investigate Accounting Truthfulness, here we use two terms Manipulators and Non Manipulators, the firms which manipulate their accounting information to attract their stakeholders are called manipulators. Therefore, our study regards the manipulation of earnings as an obstacle for the truthfulness and a potential factor for the destabilization of companies. This research develops a model for detecting earnings manipulator firm and non-manipulating firms using financial statements ratios in a simple of 10 PSE 100 Listed companies. We took the information from the Annual Report of the firms from 2014 to 2019 for finding ratios. We analyzed the information and find out the M-Score of these firms based on the M-Score we classified manipulators and non-manipulators. We then compare the M-Score of the two groups. M-Score is greater than -2.22 the firm is Manipulator, M-Score is less than -2.22 firm is Non-Manipulator, This Study shows that 12 firms are manipulating their accounting information out of 40 firms the % of The manipulation is 30%. GMI (Gross Margin Index) and AQI(Assets Quality Index) are the most dominating ratios. The findings of the study can be used by investors for making their decision. Also regulatory bodies for enforcing policy and monitoring. It can help all stakeholders of the firm for making their monetary relationship with the firm.
Arbitrage and Non-linear Taxes

Incorporating a progressive income tax into an economic decision problem raises the question whether this tax does not create arbitrage opportunities. We investigate this problem in a riskless (multi-period) economy. With a convex tax function we identify a particular kind of arbitrage (called bounded arbitrage): In this case the gain achievable through arbitrage trade is limited and cannot reach infinity.We are able to give a complete characterisation based on prizes of the traded assets as to whether bounded as well as unbounded arbitrage opportunities will exist.
Sovereign Bond Market Spillovers from Crisis-Time Developments in Greece

The systemic importance of a country is a crucial component in the European Stability Mechanism's assessment of financial assistance requests. However, disentangling the effect of developments in one country on other countries in real time is fraught with difficulties. Using empirical methods that provide ex-ante measures of risk exposure, we find that changes in the tail risks of Greek sovereign bond returns resulted in immediate and significant cross-market spillovers to other euro area sovereign bond returns. Our approach provides real-time insights on evolving cross-market interdependencies, such as Germany gradually becoming a safe haven from Greece. We confirm that developments in Greece drive our tail-risk results by linking them to a newly developed intra-day event database. This approach also allows us to provide a more intuitive quantification of the spillovers emanating from Greece. Taken together, our findings demonstrate that developments in Greece significantly affected other euro area sovereign bond markets over and beyond global, euro area and country-specific factors. Our results provide evidence for the systemic importance of Greece throughout the European sovereign debt crisis.
Human Resource Management, Total Quality Management and Competitive Advantages: Evidence from Pakistani Banking Industry.

This study aimed to investigate the relationship between human resource management (HRM) practices, total quality management (TQM) practices, and competitive advantages in the banking industry of Pakistan. HRM practices included Recruitment &amp; Selection, Training &amp; Development, Performance Appraisal, and Compensation &amp; Reward. TQM practices consist of Leadership, Continuous Improvement, Customer Satisfaction, Employee Empowerment, and Strategic Planning. And lastly, competitive advantages are represented by Cost Leadership and Differentiation. We applied (Obeidat, Yousef, Tawalbeh, &amp; Masa'deh, 2018) model to the banking sector of Pakistan. An Adopted questionnaire was designed and distributed over a sample of 300 employees. The research hypotheses were tested by using structured equation modeling. The result shows that Compensation &amp; Reward positively and significantly affect all TQM practices as well as cost leadership. Similarly, Performance Appraisal also produces a significant positive impact on Strategic Planning, and Leadership dimensions of TQM, Hoverer, negatively affect cost leadership. Recruitment &amp; Selection positively affect cost leadership. Strategic planning an important factor, significantly affect both competitive advantage factors. Interestingly, Training &amp; Development have a significant but negative effect on TQM factors namely Continuous Improvement, Leadership, and Strategic Planning. The findings imply that in the banking industry, the effect on HRM factors on TQM is not equal, some are even negative, hence should be used diligently with the perspective of both TQM and competitive advantages.
The Impact of the Opportunity Zone Program on the Residential Real Estate Market

The U.S. Tax Cuts and Jobs Act of 2017 introduced opportunity zones (OZs). This program provides tax benefits for real estate investments in designated census tracts, with the goal of fostering economic development in distressed neighborhoods. We examine the impact of OZs on residential real estate by exploiting two datasets: a proprietary real estate dataset and census-tract demographics data between 2010 and 2019. Our real estate dataset comprises 36.1 million residential transactions spanning all 50 U.S. states. We first investigate the OZ selection process by examining which census-tract characteristics were taken into account. As expected, we find that tracts with higher poverty and unemployment rates and lower income levels were more likely to be selected. However, we find evidence that tracts with a higher average real estate price were also more likely to be selected. We then analyze the impact of the OZ program by comparing key real estate metrics (price and transaction volume) before and after the program launch. We find that the OZ program increased real estate prices by 4.03-6.13%, but we do not observe a significant effect on the transaction volume. Finally, we examine the moderating effects of census tract characteristics on the impact of the OZ program. Interestingly, we show that the price increase is driven by the higher end of the OZ market. Our findings thus question the overall societal and economic benefits of the program.
Residual Momentum

In this paper we examine a momentum strategy based on residual stock returns. We find that residual momentum exhibits risk-adjusted profits that are about twice as large as those associated with total return momentum. Moreover, we find that the main arguments that have been put forward in the academic literature to rationalize momentum are unsuccessful in explaining residual momentum. Our results have important implications for the theoretical debate on market efficiency as well as the practical implementation of momentum trading strategies.
Progressive Income Tax and Comparative Advantage in Trade

We show in the world trade data that countries with more progressive personal income tax system are less likely to have comparative advantage in industris that employ a greater share of high-income occupations, such as high tech and professional service sectors. Moreover, when countries increase their income tax progressivity over time, they further lose comparative advantage in sectors that use high-paying occupations intensively. We propose two theoretical mechanisms to explain these empirical observations: one is the occupational choice model based on the trade-o¤ between the wage and the hours worked in the Heckscher-Ohlin framework; the other is the Heckscher-Ohlin model with international immigration of skilled workers. Both models demonstrate that progressive income tax pushes workers away from high-income long- hours occupations and undermines the comparative advantage in industries that rely heavily on these occupations.
Navigating the Landscape of the Sharing and Gig Economy Literature: A Systematic and Interdisciplinary Review

The sharing and gig economy are growing socio-economic phenomena. Increasing numbers of users are joining an ever-widening variety of sharing and gig platforms. In this paper, we explore the academic discussion on the sharing economy ecosystem from a cross-disciplinary perspective. We capture and focus on the early stages of the literature on these nascent research fields to identify and explain the themes that have emerged in the academic discussion. In doing so, we conduct a systematic and interdisciplinary review of the emerging literature on the sharing and gig economy and apply a horizon scanning approach to discuss the current state and future role of the sharing economy ecosystem. Our paper emphasizes that multi- and inter-disciplinary research efforts are becoming ever more important to (i) analytically address the growing diversity and complexity within the sharing economy ecosystem and (ii) gain a comprehensive understanding of the economics of sharing platforms and the competitive dynamics between different platform ecosystems.
The Impact of the Institutional Environment on Analysts’ Herding Behavior: Evidence from Broker Acquisitions

We examine the influence of institutional factors on herding behavior by exploring changes in security analysts’ institutional environments. Specifically, we identify analysts employed at privately held brokers subsequently acquired by a publicly listed institution (hereafter, “treated analysts”). We posit that, after the treatment, analysts are less independent (e.g., due to increased peer pressure or more regulated environments), and thus they issue more herding forecasts. Using a staggered difference-in-differences design, we find that treated analysts issue significantly more herding forecasts in the post-treatment period. In contrast, we do not find a change in herding behavior for analysts subject to acquisitions by non-public brokers, indicating that the institutional change from private to public, not the acquisition per se, drives our inferences. Consistent with the decreasing independency explanation, we find stronger treatment effects for less experienced analysts, more substantial organizational changes, institutional changes associated with higher job uncertainty, and in periods of stricter regulation of public institutions. Taken together, our findings suggest a causal link between the institutional environment and herding behavior.
Mediating Role between Authentic Leadership, Organizational Commitment on Talents Turnover Intention: in Palestine Higher Education

This study seeks to examine the relationship between global authentic leadership represented in global organization commitment with three compounds (affective commitment, normative commitment, and affective commitment), and talents turnover notion to drop out through job satisfaction as a mediating and in higher education in Palestine. This model is then tested by adopting data from a sample (N=235) of professional workers in fifteen universities and colleges in Palestine. The result indicates that the significant and positive relationship the authentic leadership has is indicated within the direct and indirect effects on talent turnover intention in higher education in Palestine. The result of the mediating test shows that both variables are full mediate. Henceforth, the study may be helpful for the higher education in Palestine, HR, management and policymakers to develop an applicable and suitable understanding about the importance of authentic leadership that would decrease the level of talent turnover notion in the higher education in Palestine. The study attempts to explore the important issue as well as call for more researches in this domain. <br><br>The most significant findings can confirm the hypotheses of the study that concern testing; if there are relations between authentic leaderships, organizational commitments through job satisfaction as a mediator. Hence, this paper can add some value to the pool of knowledge about the higher education within Palestine by analyzing the relation between authentic leadership and the organizational commitments on the meditational effect and talent turnover intention.
Optimizing SKU Selection for Promotional Display Space at Grocery Retailers

Promotional displays, such as end-of-aisle displays, provide a stimulus for discretionary and incremental sales at grocery stores, offering a powerful yet affordable tool to boost profit. In this study, we examine a store manager's choice of which stock-keeping units (SKUs) from a given category to assign to a promotional display space. While the academic literature and retail software solution providers offer a variety of optimization solutions for the assortment optimization problem, there is very little guidance for retailers on how to optimally determine when and what products to place on their promotional display space. Consequently, retailers often default to simple heuristics, which are typically suboptimal from a profit maximization standpoint, when making this decision. Thus, there is a need for a decision support tool to facilitate the product selection for promotional display space. <br><br>Using a grocery store sales transaction dataset, we demonstrate how to measure the incremental lift in sales of placing a particular SKU on promotional display space. Our optimization model includes the incremental lifts (from the estimation method) combined with the estimated base-sales rates and profit margins of each SKU so that the profit-maximizing SKU can be chosen for a promotional display space for each week of the year. Placing a SKU on promotional display can result in a significant lift in sales. For example, the estimated average display effect (i.e., sales lift) for the beer category across all SKUs and all weeks is 27\%, which makes promotional display a very effective tool for stimulating incremental product sales. Overall, our methodology results in at least 1.6X improvement in incremental profit when compared to a common industry benchmark. We also test our methodology on two additional product categories and demonstrate that it performs equally well across product categories. <br><br>Our work provides an easy-to-implement, promotional display SKU-selection methodology that includes both an estimation and an optimization model. Our estimation model can handle an extensive and complex product assortment and accounts for important aspects of promotional activities such as the cannibalization of the inner aisle sales as well as halo effects. Our optimization model is flexible enough to consider practical aspects such as common business rules that restrict the selection of the same SKU over a consecutive set of weeks, display-related changeover costs and slotting fees offered by the manufacturers. Overall, our study underscores the importance of making effective promotional display decisions.
Financial Satisfaction of Middle-Income Individuals of India: An Empirical Study with Specific Reference to the Residents of Uttar Pradesh

The opening up of the Indian Economy to private financial service providers in the last decade of the twentieth century opened up a plethora of new investment opportunities to the Indian investing public bringing in an era of the shifting government policies in the domain of human well-being. The study of investor behavior and its associated parameters in the Indian context has, therefore, become imperative in the present scenario. It is anticipated that by the year 2020 with 11 percent global share in consumption by Indian middle class will reach to the third highest in the world. It is further expected to rise and reach to the first place with 23 percent global share by the year 2030. The central focus of the present study is to develop a framework for financial satisfaction for middle-income investors in India. Personality type is one of the main determinants of financial satisfaction. It also influences the financial socialization, financial knowledge, financial risk tolerance and financial behavior of investors thus, it indirectly also influences the financial satisfaction. According to the findings of the present study, financial knowledge does not affect financial satisfaction directly.
Importing Activists: Determinants and Consequences of Increased Cross-border Shareholder Activism

Shareholder activism is now an important global phenomenon. We use a sample of nearly 7,000 activist shareholder campaigns across 56 countries to address two principal research questions related to the rise of activism. First, we develop a measure of corporate governance regulation that captures the extent to which a country’s laws facilitate minority-shareholder engagement, a necessary condition for successful intervention, and show that our measure explains cross-country variation in the emergence of activism. Second, we exploit changes in these regulations to examine how an increase in the threat of activism affects corporate outcomes, both for targeted firms and for firms not explicitly targeted by activists. Our evidence suggests that regulatory changes that facilitate investor activism result in increased profitability, higher payouts, and reduced investments. These effects are concentrated in countries where the preexisting governance regulations are weaker and the pre-law-change level of activism was relatively low.
A Neural Learning on Indian Manufacturing Sector in Prognosticating Bankruptcy

Bankruptcy is a menacing situation, which the investors, businesses, and the economy are afraid of, due to its adverse effects. Prediction of bankruptcy can help the investors and businesses in formulating their strategies in order to improve their profits or at least avoid losses. Researchers around the world use different types of prediction methods and models. One of the promising and accurate methods for prediction is ANN or Artificial Neural Network. ANN resembles the neural network in our brain. So this study focuses on using the different variables of ROA, ROE to predict the bankruptcy of manufacturing sectors using Artificial Neural Network.
Africa Cup of Nations- the Odds of Retaining Glory

This article focusses on describing the odds of the Africa Cup of Nations edition champions retaining the cup in the next edition using the percentage of players recruited to defend the cup that were also recruited in the previous edition, and whether the coach in the previous edition is retained or not. The paper considers the editions in the period from 1992 to 2017 to come up with a description of the odds. Only 11 records are considered. Since the sample is small, bootstrapping is used (case-resampling with resampling done 1000 times). Logistic regression model is fit using penalised maximum likelihood (to avoid bias due to using small samples). Results show that the expected odds of the champions retaining the cup when they have not retained any player and the coach who were recruited in the previous edition are about 1.850 to 3.031. For every 1% of players who participated in previous edition and are retained, the expected odds of retaining the cup decrease by about 94.12% to 95.08%. When the coach in the previous edition is retained the expected odds of the team retaining the cup are about 343.31% to 462.21% higher than when the coach is not retained. The difference in odds of retaining the cup in cases where a coach is retained and a coach is not retained is not significant when about 77.19% or more of the players who won the cup in the previous edition are recruited.
International Journal of Science and Business

The basis of the work of electroencephalography (EEG) is the registration of electrical impulses from the brain using a special sensor or electrode. This method is used to treat and diagnose various diseases. In the past few years, due to the development of neural network technologies, the interest of researchers in EEG has noticeably increased. Neural networks for training the model require obtaining data with minimal noise distortion. In the processing of EEG signals to eliminate noise (artifacts), signal filtering and various methods for extracting signs are used. The presented manuscript provides a detailed analysis of modern methods for extracting the signs of an EEG signal used in studies of the last decade. The information presented in this paper will allow researchers to understand how to more carefully process the data of EEG signals before using neural networks to classify the signal. Due to the absence of any standards in the method of extracting EEG signs, the most important moment of this manuscript is a detailed description of the necessary steps for recognizing artifacts, which will allow researchers to maximize the potential of neural networks in the tasks of classifying EEG signal. IJSB Accepted 10 August 2020 Published 17August 2020 DOI: 10.5281/zenodo.3987894
Collective Victimhood and Social Prejudice: A Post-Holocaust Theory of Anti-Semitism

Anti-Semitism represents one of the most penetrating forms of prejudice, yet social research has failed to address the causal underpinnings of the phenomenon. To this end, we put forward a new theory of anti-Semitism that builds on the legacy of the Holocaust. Standing as the benchmark for collective suffering, the Holocaust creates competition over recognition of the status of the victim. Upward comparisons between victimized in-groups with other victimized out-groups trigger social prejudice. Victimhood, thus, creates an antagonistic view of the Jews that, in turn, fuels anti-Semitic prejudice. We test this theory using data from Greece -- the European nation with the highest proportion of anti-Semites -- leveraging two survey experiments. Our results confirm the observational implications of the theory, while a natural experiment and a comparative analysis shed additional light on the causal mechanism. The findings of our research carry important implications for dealing with anti-Semitism and for combating various forms of out-group prejudice.
Magnet Effects of Price Limits: Evidence from a Market Liberalization Experiment

This paper tests for the existence of the magnet effect linked to price limits imposed in China's equity markets and how a market liberalization event affects trading in securities bound by price limits. The magnet effect of price limits theorises that, instead of stabilising markets, price limits act as a magnet and result in trade acceleration towards the limits, increasing the likelihood of hit and subsequent constraint on prices. This study provides evidence of the magnet effect in China and evidence that its effect magnifies following the opening of China's capital markets via the Shanghai-Hong Kong Connect. The increased magnitude of the magnet effect of price limits is due to new capital inflow from global markets via Hong Kong, as effects are greater for firms that experience the largest increase in capital inflow.