Miracle-dz/UniFAR-FTUs huggingface dataset:
Multiple channels of financial contagion: an empirical analysis of stock price dynamics

Dans cet article, nous etudions la maniere dont les differents chemins de propagation au sein des reseaux, ainsi que leur centralite, influencent le cours des actions en fonction de l’etat de l’economie. Considerant que les decisions et la performance des entreprises sont influencees par de multiples reseaux, nous etudions la dynamique du prix des actions d’entreprises qui sont reliees entre elles par des chaines d’approvisionnement, des liens de concurrence et des partenariats commerciaux. Nous deduisons plusieurs proprietes theoriques relatives a l’approche econometrique basee sur le reseau que nous proposons dans cet article. Cette approche permet de decomposer les effets sur les prix en distinguant les effets lies a la propagation des reseaux et les effets lies a la position structurelle des entreprises, en mettant particulierement l’accent sur leur centralite. En utilisant des donnees de reseau completes pour 7256 entreprises americaines cotees en bourse, nous montrons que les cours des actions sont exposes de maniere significative a la multiplication des reseaux, tout en etant tres sensibles aux positions structurelles des entreprises dans les reseaux. Ces effets sont importants, variables dans le temps, et asymetriques au cours du cycle economique, a la fois pendant les periodes normales et les periodes de crise.
Indigenous Carceral Motherhood: An Examination of Colonial, Patriarchal, and Neoliberal Control

Despite Canada’s international reputation as a world leader in women’s rights, its own policies and practices continue to target and discriminate against Indigenous women, particularly those who are entangled within the criminal (in)justice and child welfare systems (Monchalin 2016). This article synthesizes international research, with a primary focus on Canada, in order to theorize issues surrounding Indigenous women’s experiences of carceral motherhood. By drawing on critical feminist criminological and Indigenous feminist perspectives, I examine issues related to caretaking and incarceration, mothering from prison (visitations), mothering in prison (mother-child programs), and mothering after prison (parole). Despite rejecting the prison as a solution to “the crime problem,” I conclude by offering tentative recommendations on how to ameliorate Indigenous women’s experiences of carceral motherhood.
Inferência da localização de residência de usuários de redes sociais a partir de dados públicos

A crescente acessibilidade as midias sociais atrelada a facilidade de uso dos servicos de compartilhamento tem propiciado a geracao voluntaria de um grande volume de dados pessoais nesses ambientes. As informacoes compartilhadas, que variam de fotos do cotidiano a associacoes profissionais, podem ser exploradas para os mais diversos fins. Ao mesmo tempo em que esses dados criam oportunidades para os usuarios fortalecerem seus lacos nas redes sociais, eles tambem favorecem o desenvolvimento de mecanismos personalizados e estrategias de recomendacao mais eficientes. Entretanto, esses mesmos dados podem ser manipulados de forma maliciosa e indesejada para promover marketing viral ou acessar informacoes confidenciais sobre os usuarios. A violacao de privacidade ocorre frequentemente devido ao desconhecimento e descuido das pessoas em relacao aquilo que divulgam e tornam publico. Com o aumento de servicos baseados em localizacao, um aspecto adicional e incluido ao dado referente a informacao geografica, o que torna a discussao sobre privacidade ainda mais incisiva, visto que tais dados podem colocar em risco a integridade fisica dos usuarios, permitindo que eles sejam rastreados. Neste trabalho, analisamos uma das mais populares redes sociais baseadas em localizacao, o Foursquare, com o intuito de investigar como os seus membros exploram os recursos publicos do sistema (especificamente os atributos que possuem informacao geografica associada). A caracterizacao do comportamento humano no Foursquare consiste de um estudo que agrega cerca de 13 milhoes de usuarios e visa observar o potencial dos atributos geograficos do sistema em agir como fontes de vazamento de informacao. Nesse contexto, propomos variados modelos de inferencia na tentativa de revelar a localizacao da residencia dos usuarios a partir de dados geograficos publicamente disponibilizados. Apesar dos modelos serem genericos e poderem gerar inferencias em diferentes niveis espaciais, focamos nas inferencias mais refinadas, nas granularidades de cidade e de coordenada geografica, que, se bem sucedidas, representam riscos maiores a privacidade individual. Nossa avaliacao experimental indica que os modelos propostos sao capazes de inferir facilmente a cidade onde os usuarios moram com uma precisao de cerca de 78% dentro de um raio de 50 quilometros. Num grau ainda mais fino, acertamos a localizacao exata da casa dos usuarios no nivel de coordenada geografica com aproximadamente 60% de acuracia em um raio de 5 quilometros.
Chile's Export Diversification since 1960: A Free MarketMiracleorMirage?

Conventional wisdom has proclaimed Chile's recent economic development a 'free market miracle'. In an examination of Chile's export diversification experience, this article departs from that view. By analysing the dynamics underlying the emergence of the salmon, fruit, forestry and wine sectors in Chile's export basket since the 1960s, the study sheds light on the crucial role of industrial policy in the process of capability accumulation that shapes new industries. The article undertakes a qualitative historical analysis of the scope and nature of policy interventions in each of the four sectors and conducts a quantitative policy evaluation using the difference-in-difference method. It finds that public institutions are essential in overcoming market failures inhibiting the emergence of new industries. Specifically, it shows that the government has a key role to play as a catalyst of human capital accumulation, as a venture capitalist, in trade promotion, and in ensuring 'national' sector reputation through a strong regulatory and quality control role. By elaborating on the dynamic process of structural transformation and capability accumulation, this article contributes to theoretical debates on the role of vertical policies in the emergence of new competitive sectors, and debates relating to static versus dynamic approaches to comparative advantage.
Intersectionality, Leadership, and Inclusion: How Do Racially Underrepresented Women Fare in the Federal Government?

Women continue to be underrepresented in leadership positions, but how does the intersectionality of being both a woman and from a racially underrepresented group influence leadership representation and inclusion in the U.S. federal government? This study answers the call of scholars to examine intersectionality that has received little attention in public administration despite the emphasis on representative bureaucracy and social equity. Drawing upon data from the Federal Employee Viewpoint Survey, we find that women from racially underrepresented groups are less likely to be supervisors and feel less included in the workplace. However, we find significant variation across dimensions of inclusion, where women from racially underrepresented groups are more likely to feel their workplaces are cooperative and empowering but less likely to view them as fair, open, or supportive. Findings illustrate the importance of examining both intersectionality and different aspects of inclusion to paint a more complete picture of diversity management efforts.
Factors Influencing Matching of Ride-Hailing Service Using Machine Learning Method

It is common to call a taxi by taxi-apps in Korea and it was believed that an app-taxi service would provide customers with more convenience. However, customers’ requests can often be denied, as taxi drivers can decide whether to take calls from customers or not. Therefore, studies on factors that determine whether taxi drivers refuse or accept calls from customers are needed. This study investigated why taxi drivers might refuse calls from customers and factors that influence the success of matching within the service. This study used origin-destination data in Seoul and Daejeon obtained from T-map Taxis, which was analyzed via a decision tree using machine learning. Cross-validation was also performed. Results showed that distance, socio-economic features, and land uses affected matching success rate. Furthermore, distance was the most important factor in both Seoul and Daejeon. The matching success rate in Seoul was lowest for trips shorter than the average at midnight. In Daejeon, the rate was lowest when the calls were made for trips either shorter or longer than the average distance. This study showed that the matching success for ride-hailing services can be differentiated particularly by the distance of the requested trip depending on the size of the city.
The informational relevance of key audit matters

ABSTRACT This paper aims to investigate whether the key audit matters (KAMs) contained in the annual standardized financial statements (SFSs) of Brazilian listed companies have contributed with informational relevance for investors. The study fills a gap in the literature by evaluating the Brazilian market’s reaction to the disclosure of the information contained in the KAMs, which became mandatory for listed companies to disclose in their financial statements as of the 2016 fiscal year. The topic under analysis is of practical relevance as the use of KAMs in the independent auditor’s report is growing and expanding to other publicly-held companies in addition to listed ones. This study provides a contribution to the Brazilian capital market regulator (Comissão de Valores Mobiliários - CVM) and the Institute of Independent Auditors of Brazil (Ibracon) regarding understanding the impacts of the new auditor’s report, thus enabling the improvement and expansion of this mechanism. For the analysis, we use the event study methodology, which consists of evaluating how information influences the market in a particular period associated with the occurrence of a disclosure event. To do so, we used the variation in the sum of the daily abnormal returns of each company on the days that form part of the information disclosure window. The results of this paper indicate the consistency of the informative content of the financial statements with KAMs, insofar as the variation in the cumulative abnormal return of the companies analyzed is positively associated with the cumulative returns in the information disclosure window for the SFSs following the adoption of the new independent auditor’s report. Thus, this paper contributes to the literature by presenting empirical evidence of the informational relevance of the content of the new audit report containing KAMs.
Eigen-entropy measure to study phase separation in market behavior

One of the spectacular examples of a complex system is the financial market, which displays rich correlation structures among price returns of different assets. The eigenvalue decomposition of a correlation matrix into partial correlations - market, group and random modes, enables identification of dominant stocks or "influential leaders" and sectors or "communities". The correlation-based network of leaders and communities changes with time, especially during market events like crashes, bubbles, etc. Using a novel entropy measure - eigen-entropy, computed from the eigen-centralities (ranks) of different stocks in the correlation-network, we extract information about the "disorder" (or randomness) in the market and its modes. The relative-entropy measures computed for these modes enable us to construct a "phase space", where the different market events undergo "phase-separation" and display "order-disorder" transitions, as observed in critical phenomena in physics. We choose the US S&P-500 and Japanese Nikkei-225 financial markets, over a 32-year period, and study the evolution of the cross-correlation matrices computed over different short time-intervals or "epochs", and their corresponding eigen-entropies. We compare and contrast the empirical results against the numerical results for Wishart orthogonal ensemble (WOE), which has the maximum disorder (randomness) and hence, the highest eigen-entropy. This new methodology helps us to better understand market dynamics, and characterize the events in different phases as anomalies, bubbles, crashes, etc. This can be easily adapted and broadly applied to the studies of other complex systems such as in brain science or environment.
Foreign Direct Investment in a Stagnant Economy: Recent Experience of FDI in Manufacturing Facilities in Russia

Abstract This study presents a snapshot of investment projects in manufacturing that were implemented by foreign investors in Russia during 2017–2018. We assemble a unique database of all new plants opened by foreign companies in Russia during 2012–2018 to clarify the distribution of investment projects implemented during 2017–2018 across industries and territories with different tax regimes. We also identify the most interesting individual investment projects, interrelated investment projects, and elements of collective actions. In general, foreign investors in manufacturing demonstrate high ingenuity in discovering and exploiting the remaining emerging growing market segments and promising niches in consumer and professional markets and express significant persistence in realizing investment projects. We also demonstrate the methods applied to decrease the uncertainty of the project costs by establishing partnerships with local foreign- and domestically owned companies and the attempts to correct the government’s decisions and regulatory measures that are uncomfortable for foreign investors.
Tuki Walmikuna: Quechua Women, Domestic Labor, and Life Hopes in Peru

This article discusses Quechua women, labor, and educational opportunity in Peru and explores the relationship between coloniality and violence, Quechua racialized labor and Spanish exploitation, and unequal access to formal schooling, which have impacted generations of Quechua women. Drawing from a larger narrative project with three generations of Quechua grandmothers, daughters, and granddaughters from the Andean highlands of Peru, the article revisits the Agrarian Reform Law era, foundational and 1 The title of this article utilizes the Wanka Quechua variety found in Junín. Walmikuna (warmikuna in Quechua Collao) refers to women, and tuki is beautiful. The Cusco variety of Quechua is also used in this article as the project I describe works with both Quechua language varieties. * Elizabeth Sumida Huaman (Wanka/Quechua) is associate professor of Comparative and International Development Education. An Indigenous education researcher, her work focuses on the link between Indigenous lands and natural resources, languages, and cultural and educational practices in the North and South America. Her research projects include collaborative studies in the U.S., Canada, and Peru with Indigenous communities and institutions on Indigenous knowledge systems and education, cross-national education and language policy impacts, and Indigenous community-based education and environmental sustainability. eshuaman@umn.edu
Exchange Rates, Interest Parity, and the Carry Trade

The uncovered interest parity (UIP) condition states that the interest rate differential between two currencies is the expected rate of change of their exchange rate. Empirically, however, in the 1976–2018 period, exchange rate changes were approximately unpredictable over short horizons, with a slight tendency for currencies with higher interest rates to appreciate against currencies with lower interest rates. If the UIP condition held exactly, carry trades, in which investors borrow low interest rate currencies and lend high interest rate currencies, would earn zero average profits. The fact that UIP is violated, therefore, is a necessary condition to explain the fact that carry trades earned significantly positive profits in the 1976–2018 period. A large literature has documented the failure of UIP, as well as the profitability of carry trades, and is surveyed here. Additionally, summary evidence is provided here for the G10 currencies. This evidence shows that carry trades have been significantly less profitable since 2007–2008, and that there was an apparent structural break in exchange rate predictability around the same time. A large theoretical literature explores economic explanations of this phenomenon and is briefly surveyed here. Prominent among the theoretical models are ones based on risk aversion, peso problems, rare disasters, biases in investor expectations, information frictions, incomplete financial markets, and financial market segmentation.
The Function and Importance of Fact-Checking Organizations in the Era of Fake News

The recent increase in usage of concepts such as ‘fake news’ or ‘post-truth’ reveals the importance of digital literacy especially on social media. In the digital era, people’s views on different topics are attempted to be manipulated with disinformation and fake news. Fake content is rapidly replacing the reality among new media users. It is stated with concepts such as ‘filter bubbles’ and ‘echo chambers’ that there is a greater tendency for people to be fed with content that is ideologically appropriate to their own views and to believe in fake news in this content. This article analyzes the structure and functioning of fact-checking organizations in the context of preventing propagation of fake news and improving digital literacy. The research is based on content analysis of verification activities of the fact-checking organization Teyit.org, which is a member of International Fact-Checking Network in Turkey, between January 1 and June 31, 2018. By conducting in-depth interviews with the verification team, propagation of fake news on social networks, fact-checking processes and their methods of combating fake news are revealed. Our article found that fake content spreading specifically through the Internet predominantly consists of political issues.
How to Address the AI Governance Discussion? What Can We Learn From Singapore's AI Strategy?

The following speech was based on a research supported by the National Research Foundation, Prime Minister’s Office, Singapore under its Emerging Area Research Project Funding Initiative, and it was delivered by Yihan Goh, Dean, Professor of Law and Director of the Centre for Artificial Intelligence and Data Governance at Singapore Management University, at a conference on AI and Robot Law organised by Keio University with support from the Research Institute of Science and Technology for Society of Japan (RISTEX), in Tokyo, Japan the 6 th of July, 2019.
Integrated consumer shopping decision model: A Japanese online supermarket context

Abstract Online shopping is not a new marketing channel but has been growing tremendously throughout Japan. The rapid growth of Internet technology has enabled the Japanese to break away from their conservative culture and embark on different shopping experiences by shopping online. With the growing importance of online reviews to promote one’s business, Japanese online supermarkets are looking for ways to increase consumer-generated content. The purpose of this study is to investigate Japanese repeat online consumers and the antecedents that encourage them to review their shopping experiences, including the supermarket website they used and product availability in the online supermarket. It was found that online supermarkets must focus on establishing confidence with their repeat online consumers if they desire to increase the electronic word of mouth (e-WOM) of their online supermarket. Implications are discussed in relation to online supermarkets and repeat consumers’ intentions to review their online shopping experiences.
Voting for Democracy: Chile&Apos;S Plebiscito and the Electoral Participation of a Generation

This paper assesses the long-term consequences of voting for democracy. We study Chile’s 1988 plebiscite, which ended 15 years of dictatorship and reestablished democracy. Taking advantage of individual-level voting data, we implement an age-based regression discontinuity design comparing long-run registration and turnout rates across marginally eligible and ineligible individuals. We find plebiscite eligibility increased electoral turnout three decades later. The magnitude of the initial mobilization emerges as the mechanism. Plebiscite eligibility induced a sizable share of less-educated voters to register compared to other upstream elections. The event contributed to the emergence of one-party rule the 20 years following democratization. (JEL D72, D82, O17)
House Price Growth Interdependencies and Comovement

This paper examines house price diffusion across metropolitan areas in the United States. We develop a generalization of the Hamilton and Owyang (2012) Markov-switching model, where we incorporate direct regional spillovers using a spatial weighting matrix. The Markov-switching framework allows consideration for house price movements that occur due to similar timing of downturns across MSAs. The inclusion of the spatial weighting matrix improves fit compared to a standard endogenous clustering model. We find seven clusters of MSAs that experience idiosyncratic recessions plus one distinct national house price cycle. Notably only the housing downturn associated with the Great Recession spread across all of the MSAs in our sample; other house price downturns remained contained to a single cluster. Previous research has found that housing cycles and business cycles are intertwined. To examine this potential relationship we apply our spatial Markov-switching model to employment growth data. We find that house price comovement and employment comovement are distinct across cities.
Overview of the Ukrainian Solar Market: Status and Commercial Perspectives

Today, solar energy is called the energy of the future, and many companies make significant investments in the construction of such power plants. The article provides an overview of the commercial perspectives of this market, determines the size of investments and the return on the project. Modern solar panels are able to operate without additional investments for decades and, from the point of view of the authors, in the long term the electricity generated in this way will not only cost-effective, and extremely profitable. The global situation in the energy market and in the field of renewable energy, in particular, is considered. The reasons that triggered the development of renewable energy sources, the key of which are the dangers of nuclear energy and environmental pollution, are explained. Along with this, we consider the structure of the market of renewable energy sources in Ukraine, where the geographic location is favorable for the implementation of solar energy projects. The climate of Ukraine is characterized by a large number of sunny days: in terms of insolation, Ukraine is significantly superior to European leaders in solar energy. This basic factor allows us to talk about the commercial perspectives of solar power generation projects implemented in Ukraine. Against the background of these perspectives is considered the structure of the energy market in Ukraine and the investment attraction of renewable energy projects. Market trends in the development of the solar energy market were discussed, which are expected to contribute to the development of new market niches, such as after-sales services, as well as the transformation of existing business models against the backdrop of the introduction of new facilities.