Miracle-dz/UniFAR-FTUs huggingface dataset:
Competing for jobs: local taxes and incentives

State and local governments frequently offer tax incentives to attract businesses to locate in their area. Proponents view these incentives as a valuable tool to encourage economic development. Critics, on the other hand, argue either that incentives have little effect on business location decisions—and hence are wasteful giveaways—or that their benefits come at the expense of reduced economic activity in other areas. A key element in this debate is distinguishing what is best from a local versus a national perspective.
Fundamentals or Noise? Evidence from the Professional Basketball Betting Market

This paper uses the betting market for professional basketball games to address the issue of unexplained asset price volatility. A pricing model is presented that identifies two components in point spreads for professional basketball games. Both components--the market's estimate of relative team abilities and an idiosyncratic factor--are essentially unobserved but can be identified ex post. The structure of this market enables tests of competing hypotheses about point spread variation. The tests reject the hypothesis that variation in the two components represents irrelevant noise. The hypothesis that unobserved fundamentals account for this variation is consistent with the data. Copyright 1993 by American Finance Association.
Tourism and Poverty Reduction: Issues for Small Island States

Abstract The notion that tourism can contribute significantly to poverty reduction strategies is attracting great interest from multilateral institutions, tourism bodies, donors and other organizations around the globe. Tourism is certainly a major contributor to economic development in many small island developing states (SIDS) and often it is the only industry in these countries to consistently demonstrate growth in recent years. However, the growth of tourism in SIDS is by no means synonymous with poverty reduction, in fact, in some cases it entrenches existing inequalities. If tourism is to contribute significantly to the reduction of poverty in SIDS, a broad approach that values social sustainability as well as the more popular environmental sustainability and economic growth will be necessary. In addition, governments need to establish an effective policy environment and play a stronger regulatory role if sustainable, equity-enhancing tourism is to emerge. The paper suggests effective ways in which national planning can both encourage private sector actors to support poverty reduction and facilitate the involvement of wider sectors of society in tourism development. It is not sufficient for governments to simply promote tourism development in line with neoliberal growth-orientated policies.
Cloning and evaluation of RALGDS as a candidate for the tuberous sclerosis gene TSC1

RALGDS is a 115 kDa protein which was identified by its ability to enhance guanine nucleotide exchange for the ras family member ral. It also binds to activated ras and rap1, and appears to function as part of a signalling complex in downstream events following rap1 activation. Here we report the identification of full‐length cDNA clones for human RALGDS, isolated from a brain cDNA library. The predicted protein has strong sequence homology to rat and murine isoforms of RALGDS in the N‐ and C‐terminal regions, but an internal region (aa 250–380) shows relatively high divergence with only 42% identical amino acid residues. The human RALGDS gene is contained within a 30 kb region of 9q34, approximately 200 kb proximal to the ABO gene, within the current critical region for the tuberous sclerosis gene TSC1. Partial genomic structure was determined; it consists of at least 11 exons. Based upon analysis of Southern blots from 110 TSC patients, genomic DNA SSCP analysis, and RT‐PCR analysis which demonstrated RNA expression of both alleles in patients from 9q34‐linked TSC families using intragenic polymorphisms, we conclude that RALGDS is not likely to be TSC1.
Identification and characterization of transcripts from the biotin biosynthetic operon of Bacillus subtilis

Northern (RNA) blot analysis of the Bacillus subtilis biotin operon, bioWAFDBIorf2, detected at least two steady-state polycistronic transcripts initiated from a putative vegetative (Pbio) promoter that precedes the operon, i.e., a full-length 7.2-kb transcript covering the entire operon and a more abundant 5.1-kb transcript covering just the first five genes of the operon. Biotin and the B. subtilis birA gene product regulated synthesis of the transcripts. Moreover, replacing the putative Pbio promoter and regulatory sequence with a constitutive SP01 phage promoter resulted in higher-level constitutive synthesis. Removal of a rho-independent terminator-like sequence located between the fifth (bioB) and sixth (bioI) genes prevented accumulation of the 5.1-kb transcript, suggesting that the putative terminator functions to limit expression of bioI, which is thought to be involved in an early step in biotin synthesis.
Effects of cooking and fermentation on the chemical composition, functional, and antinutritional properties of kariya (Hildergardia barteri) seeds

Abstract The effects of natural fermentation and cooking on kariya seeds functional properties, chemical composition, and antinutritional properties were evaluated. Result showed a reduction in antinutritional properties and improvement in protein content which were observed to increase with cooking (at 100°C) and fermentation period (24–96 hr). Functional analyses showed an increase in foaming and emulsion properties, while water absorption capacity and swelling power were observed to likewise increase with an increasing temperature between 60°C and 90°C. There was also an improvement in foaming properties with increase in salt (NaCl) concentration, while emulsifying property decreases with an increase in salt (NaCl) concentration. Based on the result of the findings of this study, it can be stated that the cooking and fermentation processes employed in this study can enhance the domestic and industrial utilization of these seeds.
Increasing returns in human capital accumulation and public funding of education

This paper evaluates the efiect of public funding of education on economic growth when human capital accumulation exhibits increasing social returns. An extension of the Azariadis and Drazen (1990) model is constructed for this purpose. With increasing returns on human capital, the long-run growth rate for the economy depends on factor endowments: if human and physical capital are below (above) a certain threshold, the economy tends towards a low (high) growth rate. Public funding of education can help to escape from the low growth trap, but the lower the level of factor endowments, the greater the public funding needed for this goal. Moreover, there could be no level of public spending on education that can achieve this result if the economy is extremely poor. JEL classiflcation: O41, I28
How Tough are Better Business Bureau/Wise Giving Alliance Financial Standards?

The use of financial efficiency ratios to judge charities' performance is controversial. The authors investigate the stringency of one widely used set of standards by examining reported 2001 data for more than 111,000 organizations. The authors suggest the ability of many organizations to comply inhibits protests against the widespread use of these ratios. The Wise Giving Alliance adopted stricter standards in 2003, and the authors find that more organizations will be able to meet the new standards. As in the past, the great majority of organizations report compliance. The authors note marked differences in the rates of compliance with both the program spending and fund-raising efficiency standards by sector. Also, organizations with larger special events tend to incur relatively larger costs. The authors question the use of the same ratios for all organizations. The authors note no evidence of widespread expense allocation manipulation around the critical levels of ratios monitored by the Alliance.
Key Concepts for New Service Development

This article deals with service development from a quality perspective. Our point of departure is to build in the right quality from the start. The article presents a new frame of reference for new service development based on empirical studies in Sweden. It argues that the main task of service development is to create the right generic prerequisites for the service. This means an efficient customer process, that is to say the process must be adapted to the logic of the customer's behaviour and a good customer outcome, i.e., the service is associated with quality. We distinguish three main types of development: the development of the service concept, the development of the service system (resource structure) and the development of the service process.
A Variational Approach to Modeling Slow Processes in Stochastic Dynamical Systems

The slow processes of metastable stochastic dynamical systems are difficult to access by direct numerical simulation due the sampling problem. Here, we suggest an approach for modeling the slow parts of Markov processes by approximating the dominant eigenfunctions and eigenvalues of the propagator. To this end, a variational principle is derived that is based on the maximization of a Rayleigh coefficient. It is shown that this Rayleigh coefficient can be estimated from statistical observables that can be obtained from short distributed simulations starting from different parts of state space. The approach forms a basis for the development of adaptive and efficient computational algorithms for simulating and analyzing metastable Markov processes while avoiding the sampling problem. Since any stochastic process with finite memory can be transformed into a Markov process, the approach is applicable to a wide range of processes relevant for modeling complex real-world phenomena.
Family Governance and Firm Performance: Agency, Stewardship, and Capabilities

After decades of being viewed as obsolete and problem ridden, recent research has begun to show that major, publicly traded family-controlled businesses (FCBs) actually out-perform other types of businesses. This article examines the nature of such family businesses in an attempt to explain why some seem to do so well and others so poorly. It begins with four fundamental governance choices that distinguish among different kinds of family businesses: level and mode of family ownership, family leadership, the broader involvement of multiple family members, and the planned or actual participation of later generations. Using precepts from agency and stewardship theory, it relates these dimensions to the nature of the resource-allocation decisions made by the business and capability development, which in turn have implications for financial performance. Propositions are drawn about the drivers that make some family businesses great competitors—while leaving others at a disadvantage.
Practice-based Inquiry in the BETD In- service Programme - some key issues

The post independence government, in contrast to a century of governance that implemented such practices as forced labour, apartheid and an elite education for a predominantly white segment of society, determined to place education at the top of national priorities. This was done by legislating for the introduction of free compulsory basic education as a right. The implications of this stance are spelled out, as a development vision, in the 1993 publication
Lorcaserin for the treatment of obesity? A closer look at its side effects

Obesity is developing into a pandemic in countries like the USA, the UK and India.1–3 The WHO projects that by 2015, about 700 million adults will be clinically obese.4 Obesity is a major public health problem, beyond the disability directly related to excessive adiposity, and it also increases the risk of several chronic diseases such as hypertension, sleep apnoea, diabetes, coronary artery disease and cancer. Clearly, obesity is a serious threat, imposing a vast economic burden on the healthcare system.5 Obesity is the second most common preventable cause of death, second only to tobacco use.6 Evidence suggests that weight reduction substantially lowers the risk of related comorbidities and fosters their therapeutic management.7 ,8 Although bariatric surgery has emerged as the most clinically effective strategy for decreasing body weight for people with morbid obesity (body mass index (BMI) ≥40) or for those who cannot be managed otherwise,9 it is a very invasive procedure with significant risks.10 ,11 At this juncture, behavioural therapy, lifestyle modification and pharmacotherapy remain the mainstays of treatment. The most appealing solution for the public in general would be a ‘weight loss pill’. Several drugs have been tested since the 1960s, such as thyroid hormone, dinitrophenol, various forms of amphetamines, aminorex, fenfluramine, phenylpropanolamine, rimonabant, orlistat and sibutramine. All but phentermine, phendimetrazine and orlistat have been banned because of serious side effects. Aminorex was introduced in 1965 in Switzerland and was found to cause pulmonary hypertension. Lorcaserin (ADP356; Trade name: Belviq marketed by Arena Pharmaceuticals) and topiramate/phentermine (Qsymia) are the most recent additions to the armamentarium of antiobesity medications.12 Lorcaserin is a novel drug acting selectively as a 5-HT2C receptor agonist in the hypothalamus …
The Assimilation of Immigrants in the U.S. Labor Markets

This paper reassesses the evidence on the assimilation and the changing labor market skills of immigrants to the United States. We find strong evidence of labor market assimilation for most immigrant groups. For Asian and Mexican immigrants the first ten years experience in the united States raise earnings by more than 20 percent. Further, this estimate may understate the actual rate of assimilation because of the sharp decline in the relative wages of unskilled U.S. workers. We also find little evidence of declining immigrant "quality" within ethnic groups. The diminished labor market skills of new immigrants result entirely from changes in the immigrants' countries of origin.
The Flight-to-Quality Effect: A Copula-Based Analysis

We derive and estimate a copula combining the features of the Frank and Gumbel copulas to analyse the relationship between equity and long-term bond returns. Our analysis of quarterly returns from 1952 to 2003 finds that, in general, there is a positive relationship between equity returns and bond returns. In extreme situations, however, there is approximately a one-in-seven chance of a flight-to-quality effect where large negative equity returns are associated with large positive bond returns.
Antecedents and Performance Consequences of Integrated Brand Management in China: An Exploratory Study

ABSTRACT This study explores the role of integrated brand management in China. Using the survey data for 309 brands, our results show that integrated brand management has a positive effect on business performance in China. We also find that top management emphasis and corporate supportive resources directly foster integrated brand management. In addition, the emphasis of top management indirectly affects integrated brand management through reward system. Furthermore, we find that these relations vary between high- and low-performance brands. The implications for transitional economies are discussed.
Exchange Rate, Exchange Rate Volatility and Foreign Direct Investment

In the light of the importance of foreign direct investment (FDI) for the promotion of economic development, this paper examines the impact of the changes in the real exchange rate and its volatility on FDI. Examining Japan's FDI by industries, we found that the depreciation of the currency of the host country attracted FDI, while the high volatility of the exchange rate discouraged FDI. Our results suggest the need to avoid over-valuation of the exchange rate and to maintain stable but flexible exchange rate in order to attract FDI.
How passive ownership restrictions affect the rate of franchisee failure

What variables influence the adoption of passive ownership restrictions in franchise systems and what are the effects of these restrictions on the rate of franchisee failure of such systems? This article shows how standard performance models that do not account for self-selection of these contractual decisions can improperly suggest a negative relationship between the adoption of passive ownership restrictions and a performance outcome of franchise systems – the rate of franchisee failure. However, models that do account for self-selection of these restrictions indicate that these contractual decisions per se do not affect such a performance outcome. The findings also show that franchise systems with misaligned passive ownership restrictions show a higher rate of franchisee failure than their better-aligned counterparts.
THE IMPACT OF LAND REDISTRIBUTION ON TENURE SECURITY AND AGRICULTURAL PERFORMANCE IN KWAZULU-NATAL

South Africa needs rapid and substantial land redistribution. At the same time, the country must ensure that its meagre agricultural resources are maintained and farmed effectively. This study uses survey data and a recursive model to show that; (a) different modes of land redistribution observed in the province of KwaZulu-Natal afford different levels of tenure security to historically disadvantaged people, and (b) that insecure tenure harms agricultural performance through its adverse impact on credit use, improvements to land, investment in seasonal inputs and crop yield. Tenure is least secure on farms acquired by user groups. Government's recent policy shift in favour of owner-operated farms is therefore supported. However, where this family farm approach is not feasible, government should approach the dual goals of outreach and agricultural performance by establishing non-user groups resembling the equity-sharing companies that have redistributed wealth to farm workers in the Western Cape province.
Euro – How big a difference. Finland and Sweden in search of macro stability

The different monetary regime choices of two strikingly similar economies Finland and Sweden have created a particularly interesting testing ground for the benefits of the EMU. We assess the effects of the regime choice by simulating the behaviour of the Swedish economy with National Institute? s Global Econometric Model (NiGEM) on the assumption that Sweden had joined the EMU in 1999. The simulation exercise suggests that the independent monetary regime reduced the impact of the global shock on Sweden, but cannot explain the growth gap between Sweden and Finland since 2012. Our results suggest that the different choices with regard to the EMU have not affected the macroeconomic outcomes very much.
Acetic Acid Induced Ulceration in Rats Is Not Affected by Infection with Hymenolepis diminuta

Abstract Analysis of rodent models of inflammatory bowel disease, airways hyper-reactivity, diabetes, and multiple sclerosis has shown that infection with helminth parasites can significantly reduce the severity of the disease. Here, we assessed whether rats infected with the tapeworm Hymenolepis diminuta were protected from gastric ulceration induced by the serosal application of acetic acid. All rats gavaged with infective cysticercoids harbored adult worms when assessed 6 wk later, and acetic acid evoked the expected gastric ulceration. However, infection with H. diminuta did not affect the degree of gastric ulceration at either 3 or 7 days post-acetic acid application, as gauged by ulcer area or histopathology. While the data do not dismiss the possibility that infection with other helminths could be anti-ulcerogenic, they illustrate that ‘helminth therapy’ for inflammatory disease is likely to be both disease- and helminth-specific.
The Long Arm of the Law: Extraterritoriality and the National Implementation of Foreign Bribery Legislation

Abstract Can the application of domestic law by bureaucracies in powerful states alter policy dynamics globally? Courts and regulatory agencies with jurisdiction over large markets routinely impose national rules to conduct transpiring outside of their physical borders. Such extraterritoriality has expanded to issues ranging from antitrust to the environment. Proponents claim that extraterritorial acts can have far-reaching international consequences, spilling over into the domestic political economy of regulation in target states. Skeptics, however, question the effects of these sanctions against internationally mobile actors. In this study, we offer the first quantitative analysis of extraterritorial intervention for global policy convergence. In particular, we construct an original time-series panel data set to test the association between extraterritorial actions by U.S. prosecutors and the national enforcement of foreign bribery regulations in target countries. Our empirical analysis finds strong statistical evidence linking extraterritoriality to national policy implementation, with jurisdictions that experienced a U.S. intervention being twenty times more likely to enforce their national rules. The findings suggest the important influence that domestic law in powerful states may have for global cooperation in general and sheds light on the key pillars of international anticorruption efforts in particular.
Legal Damages and Auditor Efforts

Conventional wisdom holds that an auditor's optimal response to an increase in legal exposure is to double his efforts in finding errors in his client's financial reports. This paper's main result is that in a market setting where clients shop for opinions and auditors must compete for clients, the conventional wisdom may fail. Increased damages affect all auditors reducing the competition among auditors for clients. Thus, an auditor can reduce his legal exposure by reporting more conservatively instead of working harder. The main result is mitigated if client firms also face legal damages, and clients are more conservative in preparing their unaudited financial statements. It is more likely that a client claiming good news is truly good, and the auditor has an incentive to work harder to confirm this good report and satisfy his client. This incentive to work harder to please his client may prevent the auditor from retreating into conservatism when damages are increased. Finally, if the auditors' report space were continuous, as with a continuum of client types, the main result is reversed; additional damages would (weakly) increase the auditor's efforts. With a continuum of possible reports, the competition is not eliminated as damages increase; only the range of reports which the auditors offer is reduced. Since the competition cannot be eliminated, and the incumbent cannot resort to conservatism to reduce his legal exposure, the auditor works hard.
The rebranding of capital controls in an era of productive incoherence

Abstract The rebranding of capital controls during the global crisis has widened the policy space in the financial arena to a greater, more consistent degree than following the Asian crisis. How are we to account for this extraordinary ideational and policy evolution? The paper highlights five factors that contribute to the evolving rebranding of capital controls. These include: (1) the rise of increasingly autonomous developing states, largely as a consequence of their successful response to the Asian crisis; (2) the increasing assertiveness of their policymakers in part as a consequence of their relative success in responding to the current crisis; (3) a pragmatic adjustment by the IMF to an altered global economy in which the geography of its influence has been severely restricted, and in which it has become financially dependent on former clients; (4) the need for capital controls by countries at the extremes, i.e. those that faced implosion, and also and more importantly by those that have fared ‘too well’; and (5) the evolution in the ideas of academic economists and IMF staff. The paper also explores tensions around the rebranding of capital controls as exemplified by efforts to ‘domesticate’ their use via a code of conduct.