Miracle-dz/UniFAR-FTUs huggingface dataset:
Speculators, Prices and Market Volatility

We employ data over 2005-2009 which uniquely identify categories of traders to test whether speculators like hedge funds and swap dealers cause price changes or volatility. We find little evidence that speculators destabilize financial markets. To the contrary, speculative trading activity largely reacts to market conditions and reduces volatility levels, consistent with the hypothesis that speculators provide valuable liquidity to the market. These results hold across a variety of products and suggest that hedge funds (with approximately constant risk tolerance as in Deuskar and Johnson [2010]) improve overall market quality.
A Finite-Element-Based Methodology for Evaluating Solder Electromigration Current Limits of Sn/Pb Eutectic Solder Bumps

This paper investigates the effect of current distribution to the bump and current crowding on the electromigration (EM) of Sn/Pb eutectic solder bumps. The peak current density in the bump is found to have a significant effect on the EM lifetime of the tested structures and, thus, impacts the maximum allowable bump current. A finite-element model is developed which accurately predicts the maximum allowable bump current as a function of the current crowding. This model makes it possible to predict the maximum bump current for a new current-distribution scheme based on results from EM tests on an existing current- distribution scheme.
Administrative Reform: A Prospectus

tent on destroying ongoing administrative systems in pursuit of some pie-in-the-sky idea, untested, impractical, and probably inoperable by mere mortals. Instead, it has an empirical ring to it as administrative tacticians seek to shift sluggish administrative systems in new directions and revitalize inert institutions. These work through regular rather than irregular channels. Time will tell whether they have achieved greater success than their forebears, but if they have not it will not be for want of trying or lack of knowledge or variety of approaches. Here some salient features of the state of the art will be reviewed critically. To avoid repeating what has already been covered extensively elsewhere (see Bibliography), the prospectus will inevitably be somewhat uneven in treatment and will dwell more
Governance issues in accounting

Purpose - The purpose of this paper is to identify some key issues for the analysis of corporate governance based on the papers within this special issue including the Guest Editor's perspectives. Design/methodology/approach - The five papers included in this special issue are summarized and their main contribution to the literature is highlighted. Findings - The paper collectively deal with the role and impact of corporate boards on the quality of information provided to capital markets. Practical implications - The theoretical and empirical research included in the special issue advance the understanding of corporate governance which provides impetus for practitioner and policy change. Originality/value - The normative concepts of best practice need to be validated by empirical testing in the context of firms and their institutional settings. This suite of papers provides evidence of the effectiveness of corporate governance in improving accounting quality.
Clinical and economic consequences of dyspepsia in the community

Dyspepsia is a common problem where many sufferers do not seek healthcare. The clinical impact of the condition in the community and the economic costs were assessed using data from a large cross sectional survey. Dyspepsia may be costing society £1 billion each year in the UK. Thus dyspepsia is a huge clinical and economic burden and cost effective management strategies and treatments are urgently required.
Micro-level learning and alliance portfolio performance

This study examines learning mechanisms to explain why some firms extract superior economic rents from their alliance portfolios. In particular, we examine the relationship between alliance experience and the use of learning mechanisms, as well as the impact of learning mechanisms on a firm's capability to manage alliance portfolios. The results are based on a detailed survey among 192 alliance managers and Vice-Presidents reporting on over 3400 alliances initiated over the period 1997? 2001. The empirical findings reveal what micro-level learning mechanisms contribute to manage alliance portfolios successfully and empirically validate how lessons from prior alliances can be leveraged across a firm's entire alliance portfolio.
Real‐estate in Russia from socialism to the market economy: The case of St Petersburg

Abstract In Russia, the real‐estate question is one of the key points in the transition from the Soviet system towards the market economy. Whereas the privatization of businesses and accommodation has been widely undertaken since 1990, the privatization of buildings and especially of land is still limited, the State and town councils remaining the principal land and property owners. This situation, which leads to very distinctive relations between public and private agents, is slowing the expansion of private property investment considerably and inhibiting the setting up of a genuine real estate market.
Multi voltage converter for rail interoperability

Throughout Europe and the World there are many different rail voltage supply levels depending on the region where the infrastructure is. Regardless of the nature of the infrastructure being for heavy or light rail operations, there are differences on the feeding line voltage even in the same country. For light rail is common a DC voltage of 600 V or 750 V and for heavy rail is common 1.5 kVDC, 3 kVDC, 15 kVAC and 25 kVAC. — Different voltage levels constitute a problem for the interoperability, not only within the heavy rail infrastructures, but as well as, between heavy and light infrastructures. To overcome this technical issue, over the years it has been increasing the number of hybrid vehicles that are a fusion between a tram and a train (tram-train), which benefits from electrical systems capable of operating with different voltage levels, thus allowing a multimodal service. This way, these vehicles, can operate as a tram in the light rail infrastructures and as a commuter train in the heavy rail infrastructures. -This paper describes a multi-level converter, to be used in tram-train vehicles, considering standard voltage levels for heavy and light rail operation. This converter will be prepared for 600 VDC, 750 VDC, 3 kVDC, 15 kV 162/3Hz and 25 kVAC 50Hz. It is capable of traction using only a battery pack and an ultracapacitor pack onboard. It is designed to power 6 traction motors installed in 3 bogies. The system is dimensioned to operate in conditions necessary for a tram-train service. A system model was built and simulated and the results show that is possible to operate the vehicle in such conditions with good efficiency and good performance.
Estimating and Predicting International Tourism Demand in Sweden

In this study, we consider a dynamic demand model for international tourism. The model is used to estimate separate demand functions for hotel and cottage visitors from different countries, with a multivariate structural time series model. Among other things, the estimated models are used to simulate the effects on international tourism demand in Sweden of an increase in the value added tax on typical tourism products. The results reveal that the price sensitivity differs considerably between various visitor groups. The largest effect is found for Norwegian visitors, while there is no significant effect for Danish ones. The forecast accuracy of the demand model is also evaluated. The results indicate that a pure structural time series model performs as well as a model with explanatory variables.
Transcriptome analysis and tumor suppressor requirements of STAT5‐induced senescence

Although it is acknowledged that senescent cells accumulate with age, the molecular mechanisms leading to cell senescence as a function of age remain to be identified. In cell culture models, it has been clearly shown that senescence involves the activation of a DNA damage response secondary to short telomeres or oncogene expression. Oncogenes are altered versions of genes coding for proteins that mediate signals from extracellular factors such as cytokines, growth factors, and hormones. In particular, we show here that constitutive activation of the JAK/STAT5 signaling pathway induces senescence in both mouse and human normal cells. The process involves activation of the p53 and Rb tumor suppressor pathways and mitochondrial dysfunction. Gene expression analysis of STAT5‐induced senescence revealed changes in the expression of genes coding for cytokines, proteins in cytokine signaling pathways, and several metabolic enzymes. We discuss a model called senescence‐induced senescence, in which cytokines secreted by senescent cells can propagate the process as a function of age.
Newly created firms and informal angel investors: A four-stage model of network development

Informal angel investors represent a significant source of venture capital for newly-created firms; however, the process whereby entrepreneurs access this resource has often been described as 'invisible' and in need of further study. This paper subscribes to a 'networking' or 'relational' view of economic action and reports the findings of a longitudinal study of the development and evolution of a financial network within a newly created firm. It describes the network from the time the firm was founded in 1987 until 1996, by which time the firm had raised a significant amount of venture capital and was considering going public. The findings contribute to the entrepreneurship and financial literature by focusing on how entrepreneurs become connected to angel investors and subsequently manage the process of network development. The authors propose a four-stage model: initial navigation/'kissing frogs', consolidation, enrichment, and reconfiguration.
Resonant tunneling diode as high speed optical/electronic transmitter

We report both electronic and opto-electronic resonant tunneling diode (RTD) oscillators with relatively high output power. Electronic RTD oscillators working at 125/156/308 GHz with around one half milliwatt output power and optoelectronic oscillators in the 30–105 GHz range with about 1 mW output power at 44 GHz have been developed. First wireless transmission experiments with a 300 GHz oscillator are also reported.
Sperm washing method alters the ability of seminal plasma proteins to revert the cold-shock damage on ram sperm membrane.

Prolonged exposure of spermatozoa to seminal plasma (SP) has been found to have adverse effects on sperm function. Therefore, the separation of mammalian spermatozoa from SP is a practice routinely used in the laboratory and in assisted reproductive technology application. We have previously shown that adsorption of seminal plasma proteins (SPP) to the sperm cell surface partially restores the functional characteristics of damaged spermatozoa, reproducing those of live cells. In the present report, we have compared the influence of two different semen washing methods, a dextran/swim-up or a filtration procedure, on the SPP adsorption to the sperm surface, and on their ability to recover membrane integrity of cold-shocked sperm. Seminal plasma proteins were added to cold-shocked sperm samples obtained by both washing procedures. Adsorption of proteins to the sperm membrane surface was assessed by centrifugal counter-current distribution (CCCD) in an aqueous two-phase system, as well as membrane integrity being determined by fluorescence markers. The percentage of reversion of cold-shock effect in the sample containing plasma proteins with respect to the control sample was determined by assessing the percentage of membrane-intact spermatozoa, i.e. propidium iodide-negative. The addition of 700 microg of SPP to the swim-up damaged samples caused a 32% reversion, whereas the reversal percentage found with the same amount of SPP on filtered damaged samples was 10% (p < 0.05). Likewise, the loss of heterogeneity and the decrease in viability after the cold-shock revealed by CCCD analysis were greatly reversed by the addition of SPP to sperm samples obtained by swim-up. However, this restorative effect was again much lower when SPP were added to the cold-shocked filtered sample. These results strongly suggest that the washing method influences the ability of SPP to recover membrane integrity of cold-shocked sperm. Separation of spermatozoa by swim-up accounts for higher viability recovery than that obtained by filtration washing.
On the probability of winning a lottery with a random number of competitors

This article is concerned with models in which an agent faces a lottery with j other agents for a prize, so that the probability of winning the prize is 1/(j + 1), and where j is stochastic. After describing four different situations where such a lottery is present, we construct the expected value of the probability of winning such a lottery and prove a theorem that presents the expected value in a simpler form. We then give an example of the theorem being applied to gain new insights into auction theory.
Community Resilience: Toward an Integrated Approach

We explore opportunities for an integrated approach in community resilience to inform new research directions and practice, using the productive common ground between two strands of literature on community resilience, one from social–ecological systems and the other from the psychology of development and mental health. The first strand treats resilience as a systems concept, dealing with adaptive relationships and learning in social–ecological systems across nested levels, with attention to feedbacks, nonlinearity, unpredictability, scale, renewal cycles, drivers, system memory, disturbance events, and windows of opportunity. The second strand emphasizes identifying and developing community strengths, and building resilience through agency and self-organization, with attention to people–place connections, values and beliefs, knowledge and learning, social networks, collaborative governance, economic diversification, infrastructure, leadership, and outlook. An integrative approach seated in the complex adaptive system and ecological understanding can incorporate the identification of explicit social strengths and connections to place, activated by agency and self-organizing.
Neutrophil-Derived Proteinase 3 Induces Kallikrein-Independent Release of a Novel Vasoactive Kinin12

The kinin-forming pathway is activated on endothelial cells and neutrophils when high-molecular weight kininogen (HK) is cleaved by plasma kallikrein liberating bradykinin, a potent mediator of inflammation. Kinins are released during inflammatory conditions such as vasculitis, associated with neutrophil influx around blood vessels. Some patients with vasculitis have elevated plasma levels of neutrophil-derived proteinase 3 (PR3) and anti-PR3 Abs. This study investigated if neutrophil-derived PR3 could induce activation of the kinin pathway. PR3 incubated with HK, or a synthetic peptide derived from HK, induced breakdown and release of a novel tridecapeptide termed PR3-kinin, NH2-MKRPPGFSPFRSS-COOH, consisting of bradykinin with two additional amino acids on each terminus. The reaction was specific and inhibited by anti-PR3 and α1-antitrypsin. Recombinant wild-type PR3 incubated with HK induced HK breakdown, whereas mutated PR3, lacking enzymatic activity, did not. PR3-kinin bound to and activated human kinin B1 receptors, but did not bind to B2 receptors, expressed by transfected HEK293 cells in vitro. In human plasma PR3-kinin was further processed to the B2 receptor agonist bradykinin. PR3-kinin exerted a hypotensive effect in vivo through both B1 and B2 receptors as demonstrated using wild-type and B1 overexpressing rats as well as wild-type and B2 receptor knockout mice. Neutrophil extracts from vasculitis patients and healthy controls contained comparable amounts of PR3 and induced HK proteolysis, an effect that was abolished when PR3 was immunoadsorbed. Neutrophil-derived PR3 can proteolyze HK and liberate PR3-kinin, thereby initiating kallikrein-independent activation of the kinin pathway.
The Duration of Marketing Time of Residential Housing

The marketing of unique durable goods such as housing presents a good example for the application of search theory. An optimal stopping rule strategy is employed to model sellers' behavior. The primary hypothesis is that the greater the atypicality of a house, the greater the expected variance of offers. Because a maximizing seller will wish to entertain more offers the greater is the variance, the marketing time of atypical houses will be relatively longer than that of standard houses. Using a sample of resale houses, the empirical study uses a failure time model to confirm the hypothesis. Extensions are mentioned, including discussions of the role of the list price and the limitations of the standard hedonic regression approach when applied to housing. Copyright American Real Estate and Urban Economics Association.
Association between Nonsteroidal Anti-Inflammatory Drugs and Colorectal Cancer: A Population-Based Case–Control Study

Background: COX-2 overexpression may contribute to colorectal cancer occurrence. Aspirin and nonsteroidal anti-inflammatory drugs (NSAIDs) can reduce colorectal cancer recurrence, but the efficacy of primary prevention in Asian populations is still elusive. Thus, we examined the primary preventive efficacy of aspirin and NSAIDs on colorectal cancer incidence in Taiwan. Methods: A nested case–control study was conducted using the National Health Insurance Research Database (NHIRD) in Taiwan. We identified patients with diagnosis of colorectal cancer from 2005 to 2013 in the Registry of Catastrophic Illness Patient Database. We selected patients without colorectal cancer from the Longitudinal Health Insurance Database as the controls and matched them with cases. NSAID exposure was defined as at least two prescriptions 13 to 48 months prior to the index date. Conditional logistic regression models were performed to evaluate the association between NSAID use and colorectal cancer. Results: A total of 65,208 colorectal cancer cases and 65,208 matched controls were identified. Patients with aspirin use had a lower risk of colorectal cancer compared with nonusers [adjusted OR (AOR) = 0.94, 95% confidence interval (CI) = 0.90–0.99]. NSAID use was associated with lower incidence of colorectal cancer (AOR = 0.96; 95% CI = 0.92–1.00). When examining colon or rectal cancer, similar decreased risks were observed. Patients taking more cumulative days of NSAIDs use tended to experience a more protective effect on colorectal cancer, but no dose–response effects were noted. Conclusions: Aspirin and NSAIDs were associated with a reduced risk of colorectal cancer development among a study cohort in an Asian population. Impact: This study provided a possible chemoprevention for colorectal cancer in an Asian population. Cancer Epidemiol Biomarkers Prev; 27(7); 737–45. ©2018 AACR.
WIN WIN's Struggles with the Institutional Transfer of the EMILY's List Model to Japan: The Role of Accountability and Policy

Abstract This article addresses the complexities of institutional transfer by exploring the case of EMILY's List and WIN WIN, two women's organizations in the US and Japan respectively that seek to increase the number of women in office by providing funds early in candidates’ campaigns. Specifically, it asks why WIN WIN has struggled to successfully implement the EMILY's List model in Japan. This article argues that differing institutional environments and cultures have less explanatory power than decisions made at the organization level. In particular, while differences in the political funding regimes and so-called ‘cultures of giving’ exist, they do not necessarily preclude the success of an EMILY's List-type organization in Japan. Instead, WIN WIN made significant strategic organizational decisions that have impeded its ability to have a significant impact on female candidacy at the national level. Specifically, WIN WIN's lack of accountability to its members combined with its broader commitment to gender consciousness have limited its success.
What’s in the basket? A survey on integrated management through BPR and TQM

Presents evidence from a survey conducted in four industrial sectors (health care, public, service and manufacturing), in order to: ascertain the level of understanding, usage and also the degree of effectiveness of the business process re‐engineering (BPR) concept in all the sectors concerned; and check the degree of compatibility and synergy between BPR and other concepts such as total quality management (TQM), self‐assessment and benchmarking, in providing an integrated approach to effective management. In total, 65 responses were obtained, giving a response rate of 13 per cent across the four sectors concerned. Discusses some of the key findings which emerged from the study and some conclusions and implications.
Legalizing Smart Growth

There is widespread agreement that metropolitan growth should be channeled into compact, walkable developments. New growth should include diverse housing types and mixed land uses and support pedestrian access and public transit. This article investigates how local government regulation has responded to this trend. Local development regulation is empirically examined by analyzing how much “smart growth” policies are implemented at the local level and investigating how much regulatory cultures prevent compact, pedestrian-oriented development. A typology of the kinds of local regulation used to promote smart growth is first established. Interregulatory consistency is also investigated—to what degree are cities and counties adopting frameworks consistent with smart growth? The types of developments implemented by local zoning regulations are then quantified. Results from a large-scale sample show that local jurisdictions in Illinois employ relatively low levels of smart growth-related prescriptive policies, and regulations generally run counter to smart growth development ideals.
Executive power in the European Union: The functions and limits of the Council of Ministers*

Abstract The European integration process depends on collective decisions being reached that bind the member states. These decisions emerge mainly from the Council of Ministers, in which ministers and officials drawn from member governments negotiate. This article, summarizing a larger study, identifies the main features of the Council, its institutional ‘performance’ and its negotiating mode, and argues that this is based on much more than the defence of ‘national interests'; both ideas and definitions of collective interests are important in the debate. The process is not self‐contained but dependent on the interplay with other institutions of the European Union and the domestic politics of member states. The balancing of different concerns within a largely consensual process does not equip the Council to bear the weight of predominant executive responsibility. Thus in the discussion of proposals for reform at the next Intergovernmental Conference, the limitations of the Council need to be taken into ac.