Miracle-dz/UniFAR-FTUs huggingface dataset:
Heterogeneity in Returns to Wealth - Evidence from Swiss Administrative Data

In this paper we address how returns on financial assets vary across the population. Exploiting rich administrative data, we are able to neatly describe the heterogeneity across all parts of the distribution of wealth. We find compelling evidence that the rich benefit from higher returns. Likely, this is due to two different effects that have been called scale dependence and type dependence. The former is due to an observed positive correlation between net worth and returns. The latter describes a high persistence of returns for each individual, most possibly due to better information and market access advantages. We find evidence that both channels play an important role. Further, with respect to inequality, our results suggest that there is a wide heterogeneity across different socio-demographic dimensions in Switzerland which has been growing over time. Conceptually, this paper contributes by modelling the full distribution of returns. This allows to address the scale effect of net worth on the returns throughout the distribution of the latter. We find that net worth crucially determines the top of the return’s distribution highlighting another channel through which wealth inequality reinforces itself.
Investigate Accrual Earning Management Practicing in Non-Financial Listed Firms in Jordan 2006- 2007

Did the nonfinancial listed firms in Jordan practicing earning management? What is the factor that can explain the EM practicing? To answer these questions, unbalance data collected about all listed nonfinancial firms which equal 140 firms in three sectors (industries, services, real estates) from ASE. All items of financial statement was chosen as potential factors that may effect on the level of EM, and by using SPSS17 the data was examined and the result mentioned that there are using accruals earning management practicing by non-financial Jordanian listed firms during the period 2006-2007 with average of 11.8%. Also the results show that the service firms have the highest level EM practicing, while the highest firm to using EM practicing is LIGHT CONCRETE Company in industry sector. The result of the regression found that the following factors have the most effect on EM: (industry, and cash & cash equivalent, account payable, leverage, cash flow from operation and current liabilities), also this factors have significant effect on EM in level of significant 95%. This model is explain 32.7 % from the variation of EM, and the other percentage 67.3% is explain by other factors other than the factors we mention for them. Finally, there is high Multicollinearity effect between EM and both current liability and account payable, and there is a high chance to Multicollinearity effect between EM and both cash flow from operation and leverage.
Quality-Speed Trade-Offs in Dynamic Service Systems: How to Anticipate Future Demand Changes

Quality-speed trade-offs occur in many service systems in which employees have discretion over their service times. An increase in service time often results in an increase in the quality of a service but also increases congestion. We investigate this trade-off between quality and speed in a dynamic setting with exogenous and endogenous effects on demand. To the best of our knowledge, this work is the first analysis of the quality-speed trade-off with exogenous time-dependent demand. It shows how service providers can anticipate future demand changes with optimized service rates. We investigate a piecewise-stationary approach whereby periods are only interrelated due to endogenous demand. A performance evaluation based on a stationary backlog-carryover (SBC) approach also considers the interrelations of performance measures between periods. Both approaches are integrated into an optimization model to determine service rates for exogenous and endogenous demand. A closed-form stationary smoothing heuristic that applies the analytical results of the piecewise-stationary approach is developed. For the piecewise-stationary approach, we derive structural optimality results for exogenous demand changes only. Optimal service rates do not need to be monotone in demand, depending on the congestion measure considered in the objective function. Our novel integrated model based on the SBC approach delivers reliable results for the optimization of time-dependent service rates. It achieves greater benefits than the piecewise-stationary approach and the smoothing heuristic. Forecasted demand changes are anticipated by service rates several periods in advance. These anticipation effects are strong especially for large demand decreases, high sensitivity of service value to service rates, and low marginal waiting costs. Substantial benefits are achieved by incorporating exogenous demand changes in the decision making of time-dependent service systems affected by the<br>quality-speed trade-off.
Empirical Discussion of Technological Accumulation and Solow Growth Theory

This Paper describes the theoretical explanation of the Solow model with capital accumulation, using a data-driven empirical analysis. First, we focus on reusing the technological investment to increase the rate of output growth. Further discusses an expelling theory of the aggregate production characteristics, the constant retunes to scale in state-level production functions, the diminishing returns to the factor of production, and steady-state condition of the Solow Model. Secondly, we analyze reasonable empirical evidence to explain the close economy with the Solow growth model and the technological capital accumulation. Finally, we illustrate impotency of the technological contribution in the Solow growth and capital accumulation for the economic growth. According to the results explained, during 1959-99. For the period 1959-73, computer inputs contributed less than 0.1 percentage point to annual U.S. But economic growth after 1995, the price decline for computers had accelerated, reaching nearly 28 percent per year from 1995 to 1998. Therefore, investment in computers had increased, and the rising contribution of computer hardware has increased more than a fivefold, to 0.46 percentage point per year in the late 1990s. Software and communications equipment, two other types of IT assets, contributed an additional 0.30 percentage point per year during 1995-98. Preliminary estimates through 1999 reveal further increases in these contributions for all three high technology assets. Therefore, this paper concludes, technological accumulation is the most significant instrument for the exogenesis Solow growth in USA between 1959-1999.
Frequent News and Pure Signals - the Case of a Publicly Traded Football Club

We use stock market data for Borussia Dortmund GmbH & Co. KGaA - one of the leading German football clubs - for an application of the news model. Due to the specific characteristics of the news generating process, the case of a publicly traded sport club is a very appropriate candidate for testing this model. By applying a traditional as well as a reversed news model we elaborate whether new information can explain subsequent changes in the stock price of Borussia Dortmund. We find that sport as well as corporate governance related variables are important drivers of the stock price.
Sometimes, Always, Never: Regulatory Clarity and the Development of Crowdfunding

The level of detail in legal regulation clarifies the limits on what is permissible and what is not. I show that the publication of explicit regulation appears to significantly increase crowdfunding volume in a unique hand-collected sample of over 2,200 crowdfunding platforms worldwide. Using a differences-in-differences framework and proxies for the level of regulatory detail across three different types of countries, countries that sometimes had regulation, countries that always had regulation, and countries that never had regulation, I show a significant positive relation between regulatory clarity and the level of crowdfunding. The publication of explicit rules encourages the formation of new platforms in the country. It does not result in the consolidation of volume into existing platforms.
Effect of Production Systems on Quality and Chemical Composition of Table Eggs

Summary Production system is one of the most important factors which have an effect on egg quality. In recent years consumers have paid more attention to the housing system in which eggs are produced with a significant increase of their interest in organic and functional food. Some consumers perceive omega-3 enriched eggs and free range eggs as beneficial for their health. Therefore, the aim of this work was to determine the chemical composition and the internal and external quality of eggs produced in conventional cages, free range systems and of omega-3 enriched eggs. Samples of 30 eggs from three different production systems were taken from the market. For eggs from each system the internal and external egg quality traits were examined as well as the protein and fat content. The results showed lower fat content in eggs from cages (P<0.05). Free range and omega-3 eggs had higher content of protein in egg white compared to the conventional ones (P<0.05). Production system significantly influenced the shell breaking strength, Haugh units and yolk color. The shell breaking force was significantly higher in free range eggs (P<0.05). The highest value of Haugh units was found in free range eggs and the lowest in omega-3 enriched eggs. The results of this work confirmed that there are differences in quality and the chemical composition of eggs from different production systems.
Análisis De Los Factores Cognitivos Que Inciden En La Toma De Decisiones De Inversión De Los Administradores Financieros De La Ciudad De Barranquilla (Analysis of Cognitive Factors Affecting the Investment Decisions of Financial Managers of the City of Barranquilla)

<b>Spanish Abstract:</b> La mayoría de los directores financieros admiten (Roa, 2010) que existe una gran laguna entre lo aprendido sobre finanzas corporativas en las distintas escuelas de negocios y lo puesto en práctica como ejecutivos. La explicación se encuentra resumida en tres conceptos clave: el sesgo, la estructuración y la heurística, los cuales en su conjunto permiten entender de mejor forma las finanzas conductuales. Es por ello que en este artículo de clasificación corto, producto de una entrega parcial de tesis doctoral, pretendemos abordar esta problemática desde lo conceptual de este campo, que aplica investigación científica desde lo cognitivo y emocional en términos de la toma de decisiones económicas y financieras, así como también la comprensión de la manera como los errores de razonamiento afectan las mismas. Los errores que surgen de esta toma de decisiones se conocen como errores cognitivos y vienen dados principalmente por los conceptos ya mencionados. <b>English Abstract:</b> The majority of the Chief financial officers admit (Roa, 2010) that exists a huge gap between the learned on corporate finance in the different business schools and what they have had to put into practice as executives and the explanation we can be summarized it in three key concepts that are: bias, The Structure and the Heuristic one, which with his set allow to deal on better form the finance of the behavior. These concepts compose what in terms of Investigation is known as the psychology of the behavior in the finance which tries to understand and explain the way in which the mistakes of reasoning affect the financial decisions. The cognitive psychology is the one that will give us the bases for this investigation since she will allow us to know as the Chief financial officers they think, reason and how to take decisions. The mistakes that arise from this take of decisions that are known as cognitive mistakes come given principally by three concepts that we mention previously.
Effect of Temperature on Stock Market Indices: A Study on BSE and NSE in India

This paper investigated the effect of weather (temperature) factor, on the returns and volatility of the Indian stock indices (BSE Sensex and S&amp;P CNX Nifty). This study examined how weather (temperature) affected the volatility of top stock market indices in India. The study used the monthly data of weather in five sample cities (Chennai, Mumbai, Delhi, Kolkata and Hyderabad) in India. This study applied statistical tools like Descriptive Statistics, ADF Test and GARCH (1, 1) model and found that the returns of sample stock market indices were influenced by weather (temperature) factor in Chennai, Mumbai, Kolkata and Hyderabad in India. But the returns of stock indices were not influenced by the temperature in Delhi City.
Does FDI Matter in the Process of Economic Growth in India?

Following the economic reforms of 1991 in India, the policymakers have always tried to capture FDI to boost economic growth. Apart from FDI, India has endeavored to promote exports of Indian firms as well. There are several growing studies that aim at capturing the real impact of FDI on the growth process. Some researchers believe that by stressing on FDI, many tend to neglect other production factors. Therefore, in his paper, we attempt to encapsulate the repercussions of FDI and exports on GDP by capturing labor as an essential factor. The study employs a multiple regression model to gauge the relationship of FDI, exports, and labor on GDP from an Indian perspective. The results unveiled that all the factors positively impact GDP; however, labor tends to impact GDP significantly more than FDI and exports.
The Potential of Design Thinking in Sustaining Development Efforts in Egypt

The potential of design thinking as a strategic discipline is well known on the international level. A considerable body of literature about design history demonstrates the role design has long played in the development process. Victor Papanek (1984) has shed the light on the emergence of design for solving real-world problems in developing countries and illustrated different aspects of social design. Herbert Simon (1996) defined design ― as courses of action aimed at changing existing situations into preferred ones‖. Davey and her colleagues (2005b) proposed a new model of socially responsible design (SRS) that designers should adopt to alleviate real world problems. Despite these and other efforts, the potential of design thinking as a discipline for promoting better quality of life is missing in EGYPTVISION 2030. Developing this vision based on collaborating with different stakeholders from diverse backgrounds. Unfortunately, design has not been mentioned anywhere. The main objective of this paper is to advocate the type of responsible social design we need in Egypt. This paper calls for rethinking and updating different activities and efforts of design education, practice, and research in Egypt towards more responsible and strategic actions for achieving sustainable development in Egypt 2030.
An Empirical Assessment of the Impact of Insurance Premiums in the Face of Catastrophic Losses As Well As Cost of Capital

The issues regarding catastrophic losses is quite an important factor to consider in the course of insurance and the issuance of CAT bonds. This not withstanding the issue of cost of capital is quite undeniable should an assessment of this magnitude be done. Researchers have indicated that catastrophic losses are independent whereas cost of capital is relative to the standard deviation of losses to time periods. We then by this paper do an empirical assessment of independence of losses to time and employ Modigliani-Miller theorem to assess the cost of capital. We further look at the variations of the expected and realized losses and based on that employ the Bayesian updated serial correlation module and assess its impacts on insurance premiums.
Khám phá các nhân tố ảnh hưởng sự hài lòng của du khách du lịch làng mộc Kim Bồng- Hội An (Exploring the Main Factors Affecting Tourists’ Satisfaction at Wooden Traditional Village of Kim Bồng – Hội an City)

<b>Vietnamese Abstract:</b> Nghiên cứu tìm hiểu một số nhân tố chủ yếu tác động đến sự hài lòng của du khách khi thăm làng nghề truyền thống Kim Bồng- làng nghề nổi tiếng về mộc của Hội An, bằng việc khảo sát 200 du khách tại đây vào trung tuần tháng 5 năm 2013. Thang đo SERVQUAL được sử dụng có điều chỉnh. Phương pháp phân tích độ tin cậy Cronbach’s Alpha, phân tích nhân tố khám phá EFA cùng với phân tích hồi quy bội được sử dụng với phương tiện là phần mềm SPSS. Kết quả cho thấy sự hài lòng của du khách đến thăm làng nghề này chịu tác động bởi 3 thành phần được thể hiện theo thứ tự tầm quan trọng: (1) Sự đồng cảm; (2) Sự tin cậy; và (3) Sự bảo đảm. Nghiên cứu đề ra một số kiến nghị cho các nhà quản lý du lịch làng nghề nhằm nâng cao chất lượng dịch vụ để làm tăng sự hài lòng của du khách. <br><br><b>English Abstract:</b> The research aims at identifying the main factors affecting tourists’ satisfaction at wooden traditional village of Kim Bồng – Hội An city, by surveying 200 tourists on May 2013. Cronbach’s alpha, Exploratory factor analysis and linear regression model were used with the support of SPSS. The results show that there are 03 factors affecting tourists’ satisfaction at wooden traditional village of Kim Bồng – Hội An city, arranged by the decreasing importance: (1) Empathy; (2) Reliability; và (3) Assurance. The research reveals some suggestions to the tourist traditional village management to improve service quality to enhance tourist satisfaction. <br>
Break-even Inflation Rates: The Italian Case

This paper focuses on break-even inflation rates (BEIRs), a widely used market-based measure of expected inflation, computed from government bonds. In the first part of the paper, we regress the Italian BEIR on several financial variables to assess the contribution of inflation, credit and liquidity components. In the second, in order to disentangle market participants’ inflation expectations from risk premia, we estimate a term structure model for the joint pricing of the Italian nominal and real yield curves, considering also credit and liquidity factors. The results show that BEIRs could be a misleading measure of the expected inflation due to the importance of inflation risk premium and credit risk effect. According to our estimates, the decrease in market-based measures of inflation observed in the last part of the sample period seems to reflect a lowering of both inflation expectations and risk premia. Inflation premia co-move with a measure of tail risk of the long-term inflation distribution signalling that investors become more concerned with downside risks.
Does the Convergence of IFRS Enhance Value Relevance? Evidence from A- and B-Share Markets in China

Using a sample of Chinese firms that issue A-shares based on Chinese accounting standards (CAS) and firms that issue B-shares based on the International Financial Reporting Standards (IFRS), this study investigated whether the convergence of CAS with the IFRS has enhanced value relevance from 2003 to 2013. The B-share firms were used to control the impact of the non-accounting standards. I first estimated the price-levels models and the lagged-price-deflated return models for the relation between market values and accounting numbers and then compared the informative contents for the pre-convergence period (2003-2006) to those for the post-convergence period (2010–2013). I then examined value relevance measured by explanatory powers and pricing errors over time. The study documents significant increase in the contents of A-shares’ financial information after the convergence. While the A-share’s value relevance measured by explanatory powers is increasing over time, the value relevance measured by pricing errors is decreasing. These findings suggest that even though the CAS-based accounting numbers (earnings and book values) and the reconciliation of accounting numbers from CAS to IFRS have incremental information contents, their value relevances in relation to the A-shares proxy for pricing errors are decreasing after the convergence with the same trends in the IFRS-based accounting numbers.
Consumers’ Responses Towards Social Media Advertising on Facebook in Tourism Industry Within Pakistan

In Pakistan, tourism industry is growing rapidly but lack of researches and studies contributes in creating gap in understand the role of social media marketing in improving this sector. For this purpose, this research is conducted to investigate and examine the impact of social media practically Facebook on tourism attitude. The study used quantitative research method to collect the information by the use of questionnaire and acquire results on Facebook advertisement and its impact on the Pakistan tourism industry. The sample of 300 respondents were taken and data was analyzed using Confirmatory Factor Analysis and Structured Equation Modeling. The findings suggested that consumer behavior and perception depends on the marketing strategies integrated on Facebook. Beside this, the results also deduced that social media involvement has positive relation with customer attitude. The research will significantly going to support the tourism industry in strengthening the database of the clients and increase the level of engagement. This research will also have the significant role in improving the knowledge of managers in order to increase the knowledge on strategies. Beside this, the research has great implication that includes using the social media platform to share the stories and experiences.
Effect of Wavelength and Intensity of Light on a-InGaZnO TFTs under Negative Bias Illumination Stress

We investigated degradation mechanism of a-IGZO TFTs under NBIS with different wavelengths λ and intensities I L of light. Negative gate bias was applied for 4000 s while drain and source were grounded, and illuminations with λ = 450, 530, or 700 nm were applied. Illumination with photon energy exceeding ∼ 2.3 eV (530 nm) induced noticeable change in threshold voltage shift (cid:2) V th , which can be interpreted in terms of ionization of oxygen vacancies V O . In addition, I L of blue illumination (450 nm) was varied from 6 to 200 lux and saturation in (cid:2) V th was observed after exceeding a certain I L . We suggest that the saturation occurs because V O -ionization rate is saturated by outward relaxation of metal atoms in the a-IGZO ﬁlm. The 2016. This an access terms of the Creative Commons any
The COVID-19 Shock and a Fiscal-Monetary Policy Mix in a Monetary Union

This paper evaluates the macroeconomic effects of a monetary and fiscal policy mix implemented in a two-region monetary union in response to the COVID-19 shock. The pandemic is modelled as a mix of recessionary demand and supply shocks affecting both regions simultaneously and symmetrically, under two assumptions: the effective lower bound (ELB) constrains the monetary policy rate;and a fraction of households, labelled ‘hand-to-mouth’ (HTM), consume all their available income in every period. The main results are the following: first, higher lump-sum targeted fiscal transfers to HTM households and public consumption spending in one region, financed by issuing public debt, reduce the recessionary effects both domestically and abroad (via the trade channel). Second, the monetary union-wide recession is mitigated more effectively if both regions implement a fiscal expansion and the central bank limits the increase in long-term rates by purchasing sovereign bonds. Third, fiscal measures are less effective if sovereign bond yields increase relatively more in one region because investors perceive its bonds as risky. Effectiveness can be regained if a supranational fiscal authority issues a safe bond.