Miracle-dz/UniFAR-FTUs huggingface dataset:
In Search of the Best Zero Coupon Yield Curve for Nairobi Securities Exchange: Interpolation Methods vs. Parametric Models

We seek to determine which yield curve construction method produces the best zero coupon yield curve (ZCYC) for Nairobi Securities Exchange (NSE). The ZCYC should be differentiable at all points and at the same time, should produce a continuous and positive forward curve at all knot points. A decreasing discount curve is also expected from the resulting ZCYC, as an indication of monotonicity. For the interpolation method, we will use an improvement of monotone preserving interpolation method on r(t)t, while the Nelson and Siegel [1] model is the parametric model of choice. This is because compared to other interpolation methods, the improvement of monotone preserving interpolation method on r(t)t produces curves with the desirable trait of differentiability, while the Nelson-Siegel [1] model is shown to produce the best-fit results for Kenyan bond data. We compare the models’ performance in terms of accuracy in pricing back the fixed-income securities. For this study, we use bond data from Central Bank of Kenya (CBK). The better of the two methods will be used for the Kenyan securities market and, consequently, the East African Securities markets.
The Marketing Effectiveness of Social Media in the Hotel Industry

The unprecedented popularity of social media outlets have forced scholars to inquire about their marketing effectiveness, especially in the hotel industry. This study attempted to explore the marketing effectiveness of two different social media sites (Facebook and Twitter) in the hotel industry. Integrating the attitude-toward-the-ad (Aad) model with the concepts of attitude-toward-social-media-page, the study proposed a theoretical model of hotel social media marketing effectiveness. Based on the data collected from an online survey, the goodness of fit of the model implied that the Aad model provides an appropriate theoretical framework to explain the marketing effectiveness of social media in the hotel industry. The results revealed that hotel customers’ social media experiences influence their attitudes-toward-social-media-site, which in turn influences their attitudes-toward-hotel-brand, and that hotel customers’ attitudes-toward-hotel-brand affects their hotel booking intentions and, in turn, intentions to spread electronic word of mouth. The study also indicated that different social media sites demonstrate the same marketing effectiveness, suggesting that hotel managers use the same marketing tactics for Facebook and Twitter marketing.
Are Performance Management Practices Associated With Better Outcomes? Empirical Evidence From New York Public Schools

Performance management is widely assumed to be an effective strategy for improving outcomes in the public sector. However, few attempts have been made to empirically test this assumption. Using data on New York City public schools, we examine the relationship between performance management practices by school leaders and educational outcomes, as measured by standardized test scores. The empirical results show that schools that do a better job at performance management indeed have better outcomes in terms of both the level and gain in standardized test scores, even when controlling for student, staffing, and school characteristics. Thus, our findings provide some rare empirical support for the key assumption behind the performance management movement in public administration.
The rise of systemic instruments in innovation policy

Starting from the co-evolutionary development of innovation practice, theory and policy, five functions are identified that play a crucial role in the management of present-day innovation processes: (1) management of interfaces, (2) (de-)construction and organising (innovation) systems, (3) providing a platform for learning and experimenting, (4) providing an infrastructure for strategic intelligence and (5) stimulating demand articulation, strategy and vision development. From a first analysis of innovation policy instrument portfolios, it is concluded that the already existing instruments only cover a small part of the five "systemic" functions. Furthermore it is concluded that the portfolios are heavily dominated by financial instruments. It is argued that the development of a (relatively) new type of instrument, the systemic instruments, should be furthered in order to tune the instrument portfolio better to the needs of actors involved in innovation processes. In order to obtain a better insight into the characteristics of systemic instruments, their success and fail factors, and into strategies for their further development, effectiveness and use, an analysis of four systemic instruments avant la letter is presented. From this analysis, conclusions concerning the need for and best practice of systemic instruments are drawn, suggestions for policy are derived and questions for further research are proposed.
Interocular Symmetry in Myopic Anisometropia

Purpose. To investigate the interocular symmetry of optical, biometric, and biomechanical characteristics between the fellow eyes of myopic anisometropes. Methods. Thirty-four young, healthy myopic anisometropic adults (≥1 D spherical equivalent difference between eyes) without amblyopia or strabismus were recruited. A range of biometric and optical parameters were measured in both eyes of each subject including axial length, ocular aberrations, intraocular pressure, corneal topography, and biomechanics. Ocular sighting dominance was also measured. Results. Mean absolute spherical equivalent anisometropia was 1.70 ± 0.74 D, and there was a strong correlation between the degree of anisometropia and the interocular difference in axial length (r = 0.81, p < 0.001). The more and less myopic eyes displayed a high degree of interocular symmetry for the majority of biometric, biomechanical, and optical parameters measured. When the level of anisometropia exceeded 1.75 D, the more myopic eye was more likely to be the dominant sighting eye than for lower levels of anisometropia (p = 0.002). Subjects with greater levels of anisometropia (>1.75 D) also showed high levels of correlation between the dominant and non-dominant eyes in their biometric, biomechanical, and optical characteristics. Conclusions. Although significantly different in axial length, anisometropic eyes display a high degree of interocular symmetry for a range of anterior eye biometrics and optical parameters. For higher levels of anisometropia, the more myopic eye tends to be the dominant sighting eye.
Heterogeneous trade agreements, WTO membership and international trade: an analysis using matching econometrics

This article explores the heterogeneous effects of trade agreements (TAs) and World Trade Organization (WTO) membership on the volume of international trade. We extend Baier and Bergstrand’s (2009a) application of matching econometrics by distinguishing between different types of TAs and WTO participation and account for the endogenous nature of trade policy. For a panel data set covering 1960–2005 and 187 countries, we find that the treatment effect on international trade systematically varies with the type of TA and WTO membership.
The effect of quality and availability of foraging materials on feather pecking in laying hen chicks

Feather pecking resulting in feather damage, injuries and mortality causes severe welfare problems in laying hens. In the present study, we tested whether there is an inverse relationship between feather pecking and foraging behaviour (exploratory and manipulative behaviour away from the feeder). Forty-eight groups of 30 or 31 chicks, Gallus gallus domesticus, were reared in pens and provided with different types of foraging material. Feather pecking and foraging behaviour were quantified when the chicks were 4 and 5 weeks of age. In experiment 1, chicks with access to long-cut straw showed more foraging behaviour and less feather pecking than chicks that were provided with the same straw but in shredded form. On the other hand, there was no difference in foraging behaviour and feather pecking between chicks reared with access to long-cut straw and polystyrene blocks. In experiment 2, the importance of the form of the foraging material was confirmed. Chicks provided with polystyrene blocks performed more foraging behaviour and less feather pecking than chicks with access to polystyrene beads. The provision of an area with a layer of wood-shavings to promote scratching behaviour had no significant effect, however, on the incidence of feather pecking. In experiment 3, polystyrene blocks and beads were offered during the whole day or only in the morning. Both the quality and the availability of the foraging materials had a significant effect on foraging behaviour and a significant but opposite effect on feather pecking. Focal animal observations showed that the chicks performed different types of foraging behaviour at polystyrene blocks and beads. This suggests that not only the quantity but also the quality of foraging behaviour elicited by a given material may be important to prevent the development of feather pecking. Feather pecking should thus be considered as redirected foraging behaviour. Copyright 1998 The Association for the Study of Animal Behaviour. Copyright 1998 The Association for the Study of Animal Behaviour.
Graded, irreversible changes in crayfish giant axon as manifestations of lidocaine neurotoxicity in vitro.

UNLABELLED High concentrations of lidocaine induce irreversible conduction block with little effect on resting membrane potential (Em). We assumed the mechanism of persistent neurologic deficit caused by local anesthetics may result from neural death, as represented by the loss of Em. We investigated the effects of lidocaine on Em and action potential (AP) in single crayfish giant axons in vitro. Axons were perfused with two doses of lidocaine for either 15 or 30 min, and they were continuously washed. No axons exposed to 80 mM lidocaine for 30 min showed recovery of AP and Em. Those exposed to 40 mM for 30 min and 80 mM for 15 min showed a return to baseline for Em, but no recovery of AP. Those exposed to 40 mM lidocaine for 15 min showed full recovery of Em and AP immediately after washing. The membrane depolarization was significantly greater during exposure to 80 mM lidocaine for 30 min than in other groups. We conclude that lidocaine has a direct neurotoxic effect on crayfish giant axons and that the generation of AP is more vulnerable than the maintenance of Em. The irreversibility of AP and Em is dose- and time-dependent. IMPLICATIONS Highly concentrated lidocaine induced an irreversible conduction block and a complete loss of resting membrane potential in crayfish giant axons in vitro. Our results may represent a possible explanation for various grades of local anesthetic-induced neurotoxicity in clinical cases if the same toxicity occurs in mammalian nerves in vivo.
The importance of a high-performance work environment in hospitals.

OBJECTIVE To examine the benefits of a high-performance work environment (HPWE) for employees, patients, and hospitals. STUDY SETTING Forty-five adult, medical-surgical units in nine hospitals in upstate New York. STUDY DESIGN Cross-sectional study. DATA COLLECTION Surveys were collected from 1,527 unit-based hospital providers (68.5 percent response rate). Hospitals provided unit turnover and patient data (16,459 discharge records and 2,920 patient surveys). PRINCIPAL FINDINGS HPWE, as perceived by multiple occupational groups on a unit, is significantly associated with desirable work processes, retention indicators, and care quality. CONCLUSION Our findings underscore the potential benefits for providers, patients, and health care organizations of designing work environments that value and support a broad range of employees as having essential contributions to make to the care process and their organizations.
Environmental Management, Environmental Image and the Competitive Tourist Attraction

Studies of competitiveness have been most often conducted at the destination rather than the attraction level. However, a destination is an aggregation of tourist attractions plus supporting infrastructure and services, and many attractions are small-scale destinations in themselves, providing visitors with multiple opportunities. This paper, by examining the environmental strategies adopted in the development process of Nanshan Cultural Tourism Zone, the most visited attraction in Hainan, China, shows that the image, and hence the competitiveness of tourist attractions can be enhanced through sound environmental management practices.
Reinforced Feedback in Virtual Environment Facilitates the Arm Motor Recovery in Patients after a Recent Stroke

Previous studies have shown that the motor training in a virtual-environment with the augmented feedback promotes motor learning in normal subjects and in long-term post-stroke patients. We evaluated whether this approach could be useful also for treating patients with arm motor deficits due to a recent stroke. Thirty-eight patients were included in the study within 3 months from an ischemic stroke in the territory of the middle cerebral artery. Twenty-five subjects received training with the Reinforced Feedback in Virtual Environment (RFVE) therapy for the arm, and thirteen patients received an equal amount of a conventional rehabilitation (CR) therapy focused to the upper limb. Before and after therapy, the autonomy of daily living activities were assessed with the Functional Independence Measure (FIM) and the degree of motor impairment was measured with the Fugl-Meyer scale for the upper extremity (FM-UE). The RFVE therapy group showed significant improvements in the FM-UE and the FIM scale mean scores. The conventional therapy determined smaller and not statistically significant scores improvements. These data indicate that the recovery of arm motor function in patients after a recent stroke appear to be speeded up by an augmented feedback provided in a virtual-environment.
A categorization approach to analyzing the global consumer culture debate

Purpose – Given the ongoing globalization debate and lack of agreement about whether consumer cultures are predominantly globalizing, glocalizing, or localizing, the purpose of this paper is to propose a conceptual framework designed to help clarify discussion and facilitate theoretical progress.Design/methodology/approach – By integrating Rosch's categorization theory into the discussion of whether consumer cultures globalize, glocalize, or localize, several propositions can be formulated that help structure this discussion systematically.Findings – It is demonstrated that arguments for global consumer culture (GCC) are most easily made at the superordinate level. However, their strength (versus glocal and local consumer culture) at the basic and subordinate levels is moderated by whether meanings associated with the consumption factor are primarily functional or symbolic.Research limitations/implications – Future research should empirically validate this initial effort. In addition, scholars should exam.
Magnetic resonance appearance of normal inguinal nodes.

AIM To identify adult inguinal lymph node anatomical subgroups using magnetic resonance imaging (MRI), to derive a normal range for nodal number and size and to describe their morphology. MATERIALS AND METHODS Eighty-three oncology patients with low stage pelvic tumours had inguinal lymph node assessment by MRI. Nodes were divided into proximal superficial (PS), distal superficial (DS) and deep inguinal (DI) subgroups, their number counted in two planes, and their transaxial short axis diameter recorded. Consistency of the largest node was recorded for each anatomical subgroup and two vertical distances measured, between the skin surface and the ipsilateral pubis, and between the skin surface and the deepest node. RESULTS Transaxial plane maximum nodal number at the three sites was: PS 5, DS 8, DI 3; and in the coronal plane: PS 7, DS 5, DI 3. Nodal size ranges were: PS 3-10 mm (mean 4 mm), DS 3-15 mm (mean 6 mm) and DI3-10 mm (mean 6 mm). There was no correlation between nodal size or number and age or gender. Nodes were usually uniformly solid (PS 44%; DS 37%, DI 45%), or fatty (PS 39%; DS 33%; DI 25%). The range of distances between the skin and deepest lymph node was 2.5-16 cm depending on patient fatness. CONCLUSION The mean number of nodes counted in the axial plane was six and in the coronal plane five. A maximum short axis diameter of 15 mm was recorded for inguinal lymph nodes.
The New Environmental Paradigm and Nature-Based Tourism Motivation

This study examines the relationship between environmental attitudes as measured by the new environmental paradigm (NEP) and nature-based tourism (NBT) motivations based on data gathered from a national forest park in China. The results indicate that tourists' environmental attitudes are heterogeneous across all four tourism motivations. Specifically, those who are more supportive of limits to growth and who are more concerned about ecocrisis tend to have a higher desire to be close to nature, to learn about nature, and to escape from routine and issues associated with cities. In addition, those whose motivations are oriented to develop skills and abilities or seek to experience new things, environments, and social contact tend to be more supportive of the notion of human over nature. Thus, it can be concluded that environmental attitudes and NBT motivations are closely and positively related. Research limits, theoretical and practical implications, and future research needs of the study are discussed.
Antecedents of time to completion in mergers and acquisitions

Literature on mergers and acquisitions (M&As) performance and wealth effects is abundant. Yet, we know very little about the pre-completion stage, in particular about aspects such as the likelihood of deal closing and time to completion. Understanding the drivers of completion time is however important as prolonged deal duration is costly and postpones realizing synergy gains. In this article, we study the antecedents of deal duration for a sample of 1150 M&As between listed US companies during 1994–2011. Not surprisingly, deal complexity critically affects time to completion. Stock offers, deal hostility, mergers and larger deals are characterized by a lengthier acquisition duration. Strong and clear shareholder support accelerates deal completion, as does the likelihood of overpayment. Finally, experienced bidders succeed in more rapidly completing transactions, implying learning effects.
Age Norms on Leaving Home: Multilevel Evidence from the European Social Survey

Young people leave the parental home at different ages, and differences exist both between and within societies. International comparisons have emphasised the importance of institutions, in particular the welfare regime, the educational system, and the labour market, as well as of long-standing cultural differences. Here we focus on subjective age norms (‘age deadlines’) for leaving home—a key determinant of actual behaviour. We analyse the data of a unique multicountry dataset, the third round of the European Social Survey, through a series of multilevel regression models where simultaneously country, regional, and individual-level factors come into play. We find strong normative differences between countries, and significant, though lower, regional-level variation. Norms are significantly influenced by country-level ‘institutional’ factors, as well as by regional-level ‘cultural’ factors.
What Drives the Value Premium?: The Role of Asset Risk and Leverage

This paper shows empirically how asset risk and financial leverage interact to explain the equity risk dynamics of value versus growth stocks. During economic downturns, the asset betas and leverage of value firms increase, contributing to a sharp rise in equity betas. Asset betas of growth firms are much less sensitive to economic conditions, and, consistent with the tradeoff theory of capital structure, growth firms are also less levered, contributing to the relative stability of their equity betas. By incorporating instruments that better capture beta dynamics, I show that the interactions of conditional betas with the market risk premium and volatility explain approximately 40% of the unconditional value premium. The Author 2013. Published by Oxford University Press on behalf of The Society for Financial Studies. All rights reserved. For Permissions, please e-mail: journals.permissions@oup.com. , Oxford University Press.
Do Workers in Africa Get a Wage Premium if Employed in Firms Owned by Foreigners

Do firms owned by foreigners pay higher wages than locally owned firms for apparently equivalent workers? Do such benefits accrue to all or only certain types of workers? This paper uses data on individual wages in manufacturing industry for five African countries in the early 1990s to address these questions. We present two main findings. First, foreign ownership is associated with a 20--40% increase in individual wages (conditional on age, tenure and education) on average. This is halved to 8--23% if we take into account the fact that foreign-owned firms are larger and locate in high-wage sectors and regions. Secondly, there is a tendency in some countries for more skilled workers (using occupation and education categories) to benefit more from foreign ownership than less skilled workers and this conclusion holds after accounting for the size distribution of foreign firms. We discuss, but cannot directly test, the plausibility of two explanations for these findings: (i) foreign-owned firms employ technologies that are more skill-biased than technologies in local firms and (ii) skilled workers in foreign firms are more effective in rent-sharing than other workers. We contend that these explanations may not be mutually exclusive and, hence, cannot be empirically distinguished. Copyright 2003, Oxford University Press.
A Multivariate Pure-Jump Model with Multi-Factorial Dependence Structure

In this work we propose a new approach to build multivariate pure jump processes. We introduce linear and nonlinear dependence, without restrictions on marginal properties, by imposing a multi-factorial structure separately on both positive and negative jumps. Such a new approach provides higher flexibility in calibrating nonlinear dependence than in other comparable Levy models in the literature. Using the notion of multivariate subordinator, this modeling approach can be applied to the class of univariate Levy processes which can be written as the difference of two subordinators. A common example in the financial literature is the variance gamma process, which we extend to the multivariate (multi-factorial) case. The model is tractable and a straightforward multivariate simulation procedure is available. An empirical analysis documents an accurate multivariate fit of stock index returns in terms of both linear and nonlinear dependence. An example of multi-asset option pricing emphasizes the importance of the proposed multivariate approach.