Miracle-dz/UniFAR-FTUs huggingface dataset:
Essays on firms, banks and access to finance

This thesis is a collection of three empirical essays on firms, banks, and access to finance. Chapter 1 provides evidence that credit subsidies for exports are substantially misallocated towards financially unconstrained firms. Using loan level data for firms and exploiting an exogenous change in loan eligibility, I show that publicly listed firms are financially unconstrained, and are also allocated nearly 44% of all subsidized loans. The opportunity cost of these misallocated funds is significant as even the more productive privately held firms are shown to be financially constrained. Chapter 2 studies the role of banks in the transmission of financial flows to the economy. Exploiting a large and unexpected liquidity upsurge in an emerging economy, the chapter examines changes in bank lending behavior and finds very stark results. Bank lending to firms did not increase despite a substantial drop in the cost of capital. The results suggest that banks may be limited in their ability to extend credit due to severe agency problems. Chapter 3 analyzes changes in firm ownership structure that may be caused by the level and ease of obtaining outside financing. I combine a sector-specific financial shock with detailed data on the board of directors of firms and find that private firms that are adversely affected by the financial shock are more likely to have group-affiliated directors take positions on their boards. I also find that private firms that do not get a group director are significantly likely to acquire cross-holdings in other private firms, thus integrating horizontally. 3 Acknowledgements I am deeply indebted to my advisors, Abhijit Banerjee, Esther Duflo, and Antoinette Schoar for their unwavering support and guidance in the completion of my thesis. My research has been greatly inspired by their work and I hope to continue learning from them in the future. I am also grateful to many other faculty and students at MIT, all of whom have made my experience a rewarding one. I would like to thank Franklin Fisher in particular for believing in my research potential from an early stage and guiding me from the time of admission all the way till the job market. and many lunch and seminar participants. In addition, I have learnt very much from my co-authors, Asim Ijaz Khwaja and Atif Mian who have been extremely influential in the development of my research ideas. I am genuinely thankful to the State Bank of Pakistan for …
Visual Servoing für ein- und zweiarmige Manipulationsaufgaben bei humanoiden Robotern

Zusammenfassung Unter dem Begriff “Visual Servoing” werden Ansätze zur visuell geregelten Ausführung z. B. von Roboterbewegungen zusammengefasst. Hierbei werden durch kontinuierliche Analyse von Kamerabildern Stellgrößen erzeugt, um beispielsweise einen Roboterarm anzusteuern. In diesem Artikel stellen wir das Visual-Servoing-System des humanoiden Roboters ARMAR-III vor, welches eine zuverlässige Ausführung von ein- und zweiarmigen Greif- und Manipulationsaufgaben ermöglicht. Durch den Closed-loop-Ansatz können Ungenauigkeiten in Aktorik und Sensorik ausgeglichen werden. Abstract The term “Visual Servoing” subsumes all control approaches, that use feedback information extracted from vision sensors. Therefore corrective actions are being generated on the continuous analysis of camera images, e. g. for controlling a robot arm. In this article we present the Visual-Servoing system for the humanoid robot ARMAR-III which enables safe execution of single and dual-handed grasping and manipulation actions. Inaccuracy of actuators and sensor systems can be compensated by the closed-loop approach.
Manufacturing strategy and the concept of world class manufacturing

The concept of world class manufacturing is examined in terms of the definitions which have been developed in recent survey based research. A fundamental flaw in such approaches is that they model a fixed notion of manufacturing competitiveness. The paper presents results from case based research which addresses these issues, and shows how, even in relatively compatible environments, forcing different operations facilities to become similar would potentially undermine competitiveness. The unit of analysis is the manufacturing cell, and evidence is provided which describes the relative postions of the four cells studied. The study concludes that the cells have distinct strategic needs, and that a single “lean” mindset would be inappropriate.
Stroke rehabilitation services in New Zealand.

AIMS To obtain an overall picture of the organisation of stroke rehabilitation services throughout New Zealand and to see if this is consistent with recommendations in evidence-based guidelines. METHODS A questionnaire was sent to all hospitals in New Zealand. This included questions about access to organised stroke rehabilitation, guidelines for the management of common problems after stroke, and the use of audit. RESULTS All 48 hospitals surveyed responded, with 37 providing inpatient stroke rehabilitation services. Only one hospital (serving 9% of the population) provided a dedicated, inpatient stroke rehabilitation facility. In the other 36 hospitals, stroke rehabilitation was performed in assessment, treatment and rehabilitation units (25 hospitals, 84%) or general medical wards (8 hospitals, 7%). Only 57% of the population had access to hospitals with a nominated lead clinician for stroke rehabilitation services. Thirty per cent were served by hospitals without a multidisciplinary therapy team expert in stroke care. Guidelines for the management of common problems following stroke were used in most hospitals. Only 8 hospitals (28%) had audited their stroke rehabilitation services. CONCLUSIONS The organisation and type of rehabilitation services available for people with stroke are not consistent with best practice or accepted guidelines. The development of an organised approach to stroke rehabilitation services in New Zealand must be seen as a priority.
Detection and characterization of the prostate‐specific membrane antigen (PSMA) in tissue extracts and body fluids

The prostate‐specific membrane antigen (PSMA) glycoprotein is recognized by the monoclonal antibody (MAb) 7EII ‐C5.3 as a predominant 100 kDa and minor 180 kDa component in LNCaP cell line extracts and its expression has been shown by immunohistochemistry to be highly restricted to prostate epithelium. The aim of the present study was to utilize Western blot analysis to determine if PSMA could be detected in human tissue extracts and body fluids and if so, which molecular forms were present. PSMA was detected as 120 and 200 kDa bands in normal, benign and malignant prostate tissues and seminal plasma. Further analysis demonstrated that the larger molecular form of PSMA may be a dimer of the lower m.w. species. The PSMA glycoprotein was not detected in the majority of non‐ prostate tissue extracts examined except for a low yet significant amount in normal salivary gland, brain and small intestine, suggesting that PSMA may not be as prostate‐specific as originally thought. Since the prostate‐specific antigen (PSA) has been shown to be maximally shed into the serum in high‐grade and metastatic prostate carcinomas, it was surprising that PSMA could not be detected in serum by Western blot analysis even in patients with actively progressive metastatic disease. Second generation antibodies generated against different epitopes may be required to determine if PSMA is shed into serum. Our results support the hypothesis that PSMA is a novel prostate biomarker. © 1995 Wiley‐Liss, Inc.
Designing Technology for Domestic Spaces: A Kitchen Manifesto

In this paper, we argue that in order to create spaces and technologies that people will want to use you need to disarticulate the domestic from the digital. One way to do this involves complicating our understanding of the kitchen, moving beyond seeing it as a collection of wires, appliances and internet points to thinking about it as a space in which people really live. To accomplish this end, we unpack the imagining of the smart house, thereby creating a context and genealogy within which current and past research can be rendered intelligible. The trajectory from the display houses of tomorrow to the current narratives about smart houses is one that ultimately conflates the domestic with the industrial, and leaves little room to imagine real lives within those engineered confines. The "smart kitchen" is, in turn, embedded within the smart house and also presupposes a digital lifestyle. Throughout this paper, we draw on research conducted by researchers at MIT9s Media Lab and Intel9s Corporate Technology Group.
Microbial Transformation of Macrocyclic Trichothecenes

A resting culture of Rhizopus arrhizus (ATCC 11145) transformed verrucarin A into 16-hydroxyverrucarin A, whereas R. arrhizus transformed verrucarin B into a mixture of 16-hydroxyverrucarin B and 3′-hydroxyverrucarin A. Relative to verrucarins A and B, the 16-hydroxy derivatives showed marked increases in activity, as tested in vivo against P388 mouse leukemia.
Study of the IMRT interplay effect using a 4DCT Monte Carlo dose calculation

Respiratory motion may lead to dose errors when treating thoracic and abdominal tumours with radiotherapy. The interplay between complex multileaf collimator patterns and patient respiratory motion could result in unintuitive dose changes. We have developed a treatment reconstruction simulation computer code that accounts for interplay effects by combining multileaf collimator controller log files, respiratory trace log files, 4DCT images and a Monte Carlo dose calculator. Two three-dimensional (3D) IMRT step-and-shoot plans, a concave target and integrated boost were delivered to a 1D rigid motion phantom. Three sets of experiments were performed with 100%, 50% and 25% duty cycle gating. The log files were collected, and five simulation types were performed on each data set: continuous isocentre shift, discrete isocentre shift, 4DCT, 4DCT delivery average and 4DCT plan average. Analysis was performed using 3D gamma analysis with passing criteria of 2%, 2 mm. The simulation framework was able to demonstrate that a single fraction of the integrated boost plan was more sensitive to interplay effects than the concave target. Gating was shown to reduce the interplay effects. We have developed a 4DCT Monte Carlo simulation method that accounts for IMRT interplay effects with respiratory motion by utilizing delivery log files.
Colorectal Cancer Screening: Do We Practice What We Preach?

Objective: Compliance rates for colorectal cancer screening have been reported as low, and ignorance is the most common factor sighted to explain this. The aim of this study was to determine screening compliance among colorectal surgeons assumed to be educated of the risks of colorectal cancer. Methods: A postal survey was distributed to the members of the American Society of Colon and Rectal Surgeons. Results: A total of 1195 members were surveyed. All respondents indicated that they advocate screening. Colonoscopy every 10 years and annual fecal occult blood testing were the most common strategies advocated to individuals with baseline risk. Colonoscopy every 5 years and annual fecal occult blood testing were the most common strategies advocated to patients with a first-degree relative with polyps or cancer. Most of these colorectal surgeons initiated their screening before 50 years of age. Conclusion: Colorectal cancer screening compliance is high among members of the American Society of Colon and Rectal Surgeons. These rates may be the result of awareness of the risks of colorectal cancer.
Saudization (Localization) – A critical review

Abstract This paper introduces the concept of Saudization and critically reviews its existing and potential impacts and consequences. It identifies that Saudization has positively contributed to reducing the overall percentage of foreign labor. However, there have been some difficulties, such as a decline in competitiveness among regional business companies with respect to a business friendly environment, and reduced direct foreign investment, which influenced the reduction of the tax on foreign investors. Saudization should place importance on skill development among Saudi nationals by strengthening educational and vocational training, and providing time-specific incentives, rather than relying only on a quota system. Saudization should be implemented more through market forces and incentives. Collecting comprehensive information on the nature and magnitude of Saudi unemployment could be a first step in developing appropriate Saudization policies. This paper suggests appropriate coordination and consultation between the government, the private sector and the public at large, so that any policies on Saudization become more easily acceptable and executable in both the public and private sector.
Critical Review of Preclinical Approaches to Evaluate the Potential of Immunosuppressive Drugs to Influence Human Neoplasia

Many immunosuppressive drugs are associated with an increased risk of B-cell lymphoma, squamous cell carcinoma, and Kaposi sarcoma. Thirteen immunosuppressive drugs have been tested in 2-year carcinogenicity studies (abatacept; azathioprine; busulfan; cyclophosphamide; cyclosporine; dexamethasone; everolimus; leflunomide; methotrexate; mycophenolate mofetil; prednisone; sirolimus; and tacrolimus) and in additional models including neonatal and genetically modified mice; chemical, viral, ultraviolet, and ionizing radiation co-carcinogenesis, and in models with transplanted tumor cells. The purpose of this review is to outline the mechanisms by which immunosuppressive drugs can influence neoplasia, to summarize the available preclinical data on the 13 drugs, and to critically review the performance of the models. A combination of primary tumor and metastasis assays conducted with transplanted cells may provide the highest value for hazard identification and can be applied on a case-by-case basis. However, for both small molecules and therapeutic proteins, determining the relative risk to patients from preclinical data remains problematic. Classifying immunosuppressive drugs based on their mechanism of action and hazard identification from preclinical studies and a prospective pharmacovigilance program to monitor carcinogenic risk may be a feasible way to manage patient safety during the clinical development program and postmarketing.
Ligand-directed Immunoaffinity Purification and Properties of the One-carbon, Reduced Folate Transporter

Almost complete purification (>95%) of the 46-kDa murine, one-carbon, reduced folate transporter (RFT) at a recovery of 20% was obtained by ligand-directed immunoaffinity fractionation from transporter overproducing L1210/R83 cells. These cells were labeled with the N-hydroxysuccinimide ester of [3H]aminopterin (AMT), the isolated plasma membrane alkaline washed to remove nonintegral membrane proteins, detergent-solubilized, and RFT-separated on an anti-AMT antibody-protein G-Sepharose column followed by preparative SDS-polyacrylamide gel electrophoresis. Anti-RFT antibody, subsequently derived, differentially blotted (L1210/R83 L1210/0) a 46-kDa protein during SDS-polyacrylamide gel electrophoresis of plasma membrane from L1210/R83 and L1210 cells and in L1210/R83 cells after trichloroacetic acid precipitation. In contrast to that reported for human tumor cells, glycosidase treatment of RFT revealed no common N- or O-linked core oligosaccharides associated with this protein. The same 46-kDa protein at different relative levels was revealed in a Western blot of plasma membrane from other murine tumors. Blotting of plasma membrane from methotrexate resistant, transport defective L1210 cell variants exhibited wild-type levels of a less electrophoretically mobile RFT or greater levels of the same 46-kDa RFT which could not be affinity labeled with N-hydroxysuccinimide-[3H]AMT. The same antibody differentially blotted a 83-kDa plasma membrane protein from human HL-60 and CCRF-CEM cells with different levels of reduced folate transport and affinity labeling of RFT, verifying the conserved nature of this protein consistent with earlier functional studies.
Why Not Allow FASB and IASB Standards to Compete in the U.S.

This paper articulates the arguments for and against introducing competition into the accounting standard-setting process in the U.S. by allowing individual corporations to issue financial reports prepared in accordance with either FASB or IASB rules. The paper examines several arguments supporting the status quo, including (1) the FASB's experience and world leadership in making accounting rules, (2) the increased risk of a "race to the bottom" under regulatory competition, (3) the inability of most users of financial reports to understand the complex technical issues underlying accounting standards, (4) the possibility that IASB's standards will be diluted to gain international acceptance, allowing additional opportunities for earnings management, (5) the risks of the IASB being deadlocked or captured by interests hostile to business, (6) the costs of experimentation in standard-setting, and (7) economies from network externalities. Argument examined on the other side include how competition will (1) help meet the needs of globalized businesses, (2) increase the likelihood that the accounting standards will be efficient, (3) help protect standard-setters from undue pressure from interest groups, (4) allow different standards to develop for different corporate clienteles, (5) allow corporations to send more informative signals through their choice among accounting standards, (6) protect corporations against capture of regulatory body by narrow interests, and (7) not affect network externalities at national or global scales.
Potential Therapeutic Gene for the Treatment of Ischemic Disease: Ad2/Hypoxia-Inducible Factor-1α (HIF-1)/VP16 Enhances B-Type Natriuretic Peptide Gene Expression via a HIF-1-Responsive Element

In this issue of Molecular Pharmacology, Luo et al. (p. 1953) present a study employing a HIF-1α/VP16 chimera to investigate the mechanism by which this constitutively active transcription factor activates expression of brain natriuretic peptide (BNP). The results define a functional hypoxia responsive element (HRE) in the promoter of the human BNP gene and demonstrate that this HRE is necessary for HIF-1α/VP16-induced gene expression in human cardiomyocytes grown under normoxic conditions. Luo et al. also show that a consensus E-box DNA binding sequence is necessary for appropriate BNP regulation. Because HIF-1 is known to elicit protective and beneficial gene expression programs in many scenarios and because BNP is known to be cardioprotective, this study provides support for the therapeutic use of the chimeric HIF-1α/VP16 protein in coronary heart disease. However, because HIF-1α is a key regulatory molecule that acts upon a large number of downstream gene networks, there remains a need for further investigation. Particularly useful would be comprehensive gene expression profiling coupled with functional analysis of HIF-1α/VP16-regulated genes. The results of such studies will elucidate the mechanism of beneficial effects and address concerns regarding potential adverse effects of activating specific HIF-1α/VP16-dependent gene programs.
The regulatory role of the Charity Commission

With gross income of £16bn and assests of over £35bn the charity sector is an important part of the economy but how efficient is the Charity Commision at regulating its activity? This article studies two high profile investigations performed by the Commision (War on Want and Oxfam) and asks whether the Commission was forced to react to adverse public comment by launching inquiries it did not want. Adverse reports into the activities of the Charity Commision have resulted in better monitoring procedures and the recruitment of qualified accountants. In addition the increasing diversification of the activities of the charity sector is bringing regulation by other forces, will these be any more effective? In a sector depending on public support another failure could cause serious problems.
Transnationalization of Brazilian Companies: Lessons from the Top 20

ABSTRACT Emerging market transnational corporations have had difficulties making decisions involving their international strategic plans. These difficulties largely stem from the lack of a historical foundation for making decisions about international trade due to these corporations' relatively recent materialization as large players in the international arena. This obstacle makes it difficult to predict what might become a future success or failure in global markets. Brazilian TNCs (BTNCs) have also experienced the same obstacles related to this lack of prior familiarity with the transnationalization process. Nevertheless, in recent years, BTNCs' degree of transnationalization has been increasing, as evidenced by a number of companies solidifying recurrent positions in the top 20 BTNC ranking. This study examines certain aspects of the transnationalization of BTNCs and offers insight into their plight.
Islamic Banks and Investment Financing

Islamic Law prohibits charging interest. We study financial instruments used by Islamic banks and find that most are not based on profit-and-loss sharing (equity) but, instead, are very debt-like in nature. We see some bias against providing financing for agriculture and industry. Long-term financing is rarely offered to entrepreneurs. Our model shows that debt-like instruments are a rational response by Islamic banks to their contracting environments. As agency problems become more severe, debt becomes the dominant instrument of finance. We give conditions under which banning debt increases social welfare as well as conditions under which banning debt decreases social welfare.
Lipid paradox in rheumatoid arthritis: the impact of serum lipid measures and systemic inflammation on the risk of cardiovascular disease

Objective To examine the impact of systemic inflammation and serum lipids on cardiovascular disease (CVD) in rheumatoid arthritis (RA). Methods In a population-based RA incident cohort (1987 American College of Rheumatology criteria first met between 1988 and 2007), details were collected of serum lipid measures, erythrocyte sedimentation rates (ESRs), C-reactive protein (CRP) measures and cardiovascular events, including ischaemic heart disease and heart failure. Cox models were used to examine the association of lipids and inflammation with the risk of CVD and mortality, adjusting for age, sex and year of RA incidence. Results The study included 651 patients with RA (mean age 55.8 years, 69% female); 67% were rheumatoid factor positive. ESR was associated with the risk of CVD (HR=1.2 per 10 mm/h increase, 95% CI 1.1 to 1.3). Similar findings, although not statistically significant, were seen with CRP (p=0.07). A significant non-linear association for total cholesterol (TCh) with risk of CVD was found, with 3.3-fold increased risk for TCh <4 mmol/l (95% CI 1.5 to 7.2) and no increased risk of CVD for TCh ≥4 mmol/l (p=0.57). Low low-density lipoprotein cholesterol (LDL <2 mmol/l) was associated with marginally increased risk of CVD (p=0.10); there was no increased risk for LDL ≥2 mmol/l (p=0.76). Conclusion Inflammatory measures (particularly, ESR) are significantly associated with the risk of CVD in RA. Lipids may have paradoxical associations with the risk of CVD in RA, whereby lower TCh and LDL levels are associated with increased cardiovascular risk.