bluuebunny/crossref_metadata_2025 huggingface dataset:
ON IMPERFECT EVALUATION AND EARNING DIFFERENTIALS
Authors: BARRON JOHN M. , LOEWENSTEIN MARK A.
Published: January 2010

This paper investigates the relationship between the technology for evaluating performance and optimal contract choice. Specifically, the paper examines the different compensation packages that arise when occupations differ in evaluation technology, workers are risk averse, work effort is endogenous, and there exists asymmetric information. In occupations in which it is less difficult to measure output, it is shown that compensation is more closely tied to output; the implications for work effort, the sorting of workers by ability, and average compensation are developed. Analysis of a new data set confirms our predictions concerning earning differentials and wage growth.

The powerful 1.6 million‐member National Education Association and other teacher organizations have traditionally fought the notion of rewarding better teachers with more money, arguing that there is no objective way to measure a teacher's competence and that it would lead to favoritism, and bad morale [Time, June 20, 1983].
ECONOMIC WELFARE, PRICE AND PROFIT: THE DETERRENT EFFECT OF ALTERNATIVE ANTITRUST REGIMES
Authors: SMITH W. JAMES , VAUGHAN MICHAEL B.
Published: January 2010

This paper critically examines the deterrent effect of price‐fixing statutes under alternative antitrust regimes. A regime is defined by the litigation strategy which the antitrust agency employs in detecting cartels and in determining whether prosecution is warranted and by the basis upon which courts estimate damages. The results of the analysis suggest that antitrust policy may actually induce cartels to further restrict output, increasing welfare loss above the level imposed by an unthreatened, perfect monopoly. Litigation strategy and damages should be founded upon consideration of welfare loss measures to avoid this possibility.
THE EXCESS SUPPLY‐PURE DEMAND APPROACH TO INTERNATIONAL COMMODITY TRADE: THE CASE OF JAPANESE STEEL EXPORTS TO THE UNITED STATES
Authors: CIMA LAWRENCE R.
Published: January 2010

The purpose of this paper is twofold: 1) to develop a theoretical framework for the analysis of export supply which is empirically more fruitful than existing approaches, and 2) to present an empirical application of the theory to the market for Japanese steel, thereby quantifying important export supply elasticities not dealt with in the past. Evidence is presented which indicates that the supply of Japanese steel exports to the U.S. is price elastic, and sensitive to Japanese and rest of world demand conditions.
SELF‐INTEREST REDISTRIBUTION AND THE NATIONAL FOOTBALL LEAGUE PLAYERS ASSOCIATION
Authors: WHITE MICHAEL D.
Published: January 2010

The NFL Players Associations decision to seek increased collective determination of player compensation through a salary schedule in 1982 is explained in this study as being motivated by self‐interest redistribution. Probit and multiple regression analysis are used to test whether the redistribution is consistent with median voter self‐interest redistribution. The results indicate substantial redistribution in favor of the median voter with respect to experience. The Players Association's actions, which have been criticized as being against the players' interests, appear consistent with the interests of a majority of the players.
WHERE DID ALL THE SAVING GO? A LOOK AT THE RECENT DECLINE IN THE PERSONAL SAVING RATE
Authors: MONTGOMERY EDWARD
Published: January 2010

The inadequacy of aggregate saving is often cited as an explanation of the low levels of capital accumulation and productivity growth in the United States. Aggregate saving is low in large part because of the steep decline in the personal saving rate that has occurred since 1975. This paper uses a modified life‐cycle model to analyze the determinants of this recent decline in the personal saving rate. The empirical results do not support the hypothesis that the decline in the saving rate was the result of a reduction in the real rate of return. The reduction in the rate of growth of income and the changing demographic profile of the labor force are the most important factors in accounting for the fall in the personal saving rate.
THE EFFECT OF FISCAL POLICY ON THE SHORT‐RUN RELATION BETWEEN NOMINAL INTEREST RATES AND INFLATION
Authors: CANTO VICTOR A. , NICKELSBURG GERALD , RIZOS PAUL
Published: January 2010

This paper presents a simple empirical model of the relation between the inflation rate and the nominal interest rate. We show that previous results found in the literature may be attributed to specification error and that there are natural explanations for the observed signs of previous Fisher equation estimates. Our results show that fiscal policy shocks may generate short run negative correlations between changes in inflation and changes in the nominal interest rates. These results illustrate the difficulty in discussing the relation between inflation and nominal interest rates without conditioning the analysis with specific assumptions on the course of the economy.
THE SHORT‐RUN “TOBIN EFFECT” IN A MONETARY OPTIMIZING MODEL
Authors: KOENIG EVAN F.
Published: January 2010

In an economy in which households face a cash‐in‐advance constraint, the nominal interest rate acts like a tax on consumption. To the extent that investment is financed from current earnings and so escapes the interest rate tax, households will defer their consumption when the nominal interest rate is high. A short‐run Tobin effect results: capital accumulates most rapidly when the interest rate is thought to be high relative to its past and future values.
PLANNED AND UNPLANNED BEQUESTS
Authors: HAMERMESH DANIEL S. , MENCHIK PAUL L.
Published: January 2010

We distinguish between bequests that are planned as part of a lifetime optimization process and those that are the unplanned result of errors in forecasting the date of death. Given the initial endowment we expect a positive relation between the bequest and the planning horizon, and a negative relation between unexpectedly long life and the bequest. A unique data set on wealthy decedents and their parents provides measures of expected horizons based on parents' longevity. Both predictions are confirmed, and there is an especially large and significant positive relation between the bequest and the length of the planning horizon.
THE IMPACT OF MONEY ON SHORT‐TERM INTEREST RATES
Authors: REICHENSTEIN WILLIAM
Published: January 2010

This study reviews empirical evidence from four research methods related to the impact of money on short‐term nominal rates. The studies consistently fail to find evidence supporting the much hypothesized short‐term, negative relationship between money and nominal rates since at least April 1975. Reasons for the absence of a negative relationship include the tendency of financial markets to anticipate corrective action by the Fed whenever Ml deviates from targeted growth ranges and a rapid adjustment of inflationary expectations to changes in money growth.
THE ENTREPRENEUR'S REWARD FOR SELF‐POLICING
Authors: BARZEL YORAM
Published: January 2010

The collaboration among people is often subject to shirking; the net gain from the collaboration depends on the contract governing it. I argue that the entrepreneur assumes the role of the residual claimant because his actions are more costly to monitor than those of the factors with which he collaborates. By offering fixed pay contracts to others and himself becoming residual claimant, the entrepreneur curtails his incentive to gain at the expense of his partners, and the net gain from the collaboration is then maximized. Costly monitoring applies to both labor and capital, and thus the entrepreneur may supply both labor services and capital. The entrepreneur's capital serves to guarantee the pay of the other factors.
AGRICULTURAL LABOR STRIKES AND FARMERS' INCOME
Authors: CARTER COLIN , HUETH DARRELL L. , MAMER JOHN , SCHMITZ ANDREW
Published: January 2010

This paper assesses the effectiveness of union strikes against agricultural industries. Various factors including input substitution possibilities create special challenges for union leaders. We develop the concept of a minimum‐effective union and apply it empirically to the 1979 California lettuce strike. To be effective, a union has to reduce producer profits below the prestrike level. In the lettuce strike case, producer profits were actually increased, not reduced.
NOTES ON MINCER'S LOG‐EARNINGS MODEL
Authors: CONLISK JOHN
Published: January 2010

In his famous human capital model, Mincer provides assumptions under which a worker's annual log‐earnings are a function of years of schooling and years of experience. The function has the important property, widely invoked in empirical studies, that its derivative with respect to schooling equals the rate of return to the schooling investment. It is shown here that some of Mincer's assumptions are not needed for the property to hold, but that other assumptions carry troublesome hidden implications.
DEFICITS, POLITICS AND MONEY GROWTH
Authors: GRIER KEVIN B. , NEIMAN HOWARD E.
Published: January 2010

We examine the linkage between Federal deficits and money growth by allowing the Fed's response to any given deficit to vary systematically according to how the deficit is generated and the Party affiliation of the current president. In equations for Ml and monetary base growth, the structural deficit is consistently significant and invariant across political changes, while the cyclical component of the deficit (or a direct measure of the business cycle) is significant only during the tenure of Democratic presidents.
THE EXTERNAL VALIDITY OF EXPERIMENTAL ECONOMICS TECHNIQUES: ANALYSIS OF DEMAND BEHAVIOR
Authors: BROOKSHIRE DAVID S. , COURSEY DON L. , SCHULZE WILLIAM D.
Published: January 2010

This paper examines the parallelism which exists between demand behavior determined from the sale of a private good in an actual “real world” field setting and in a laboratory auction setting. The demand behavior observed in the two settings is significantly the same leading to the corroboration of the thesis that there is often correspondence between laboratory and real world behavior.
TAX POLICY AND CONSUMER FORESIGHT: A GENERAL EQUILIBRIUM SIMULATION STUDY
Authors: BALLARD CHARLES L.
Published: January 2010

This paper presents a dynamic computational general equilibrium model in which expectations regarding future prices can be varied systematically. The model is employed to evaluate how expectations influence the effect of long‐run tax policy changes. Under policies (like a consumption tax) that reduce rates of return over time, individuals with perfect foresight save less than individuals with myopic beliefs. This is because consumers with foresight are better able to anticipate the lower returns. Lower saving means that existing distortions due to capital taxes are not offset as much, so that welfare gains are smaller under perfect foresight.
ON INFLATION AND REAL PRICE VARIABILITY
Authors: DANZIGER LEIF
Published: January 2010

This paper studies the consequences of costly price adjustments for the variability of real prices accompanying inflation. For constant‐elasticity demand and cost of production it is shown that a higher demand, a lower cost of production, or a lower cost of price adjustment leads to less intertemporal variability of real prices. If the marginal cost of production does not increase “too” fast, then the average real price is less than the real price that would prevail in the absence of inflation; additionally, a higher demand, a lower cost of production, or a lower cost of price adjustment leads to a higher level of real prices.
A MARKET‐BASED TEST OF THE EFFECT OF MONETARY POLICY
Authors: LEVI MAURICE , SHAPIRO ALAN C.
Published: January 2010

This paper tests the rational expectations‐natural rate hypothesis without basing expectations on time series estimates. Instead, market‐based data are used. Unexpected money supply changes are determined via the Fisher Effect and the Quantity Equation. This introduces errors of a very different kind than the traditional approach, and yet the results are remarkably similar to those generated using time series estimates. Unanticipated money shocks are shown to exert a significant but only short‐run effect on real output, suggesting only a short‐run Phillips curve trade‐off. Anticipated money growth appears to have no effect on real output.
Harvesting Family Firms' Organizational Social Capital: A Relational Perspective
Authors: Zahra Shaker A.
Published: January 2010

abstract

Organizational social capital (OSC), the goodwill and resources companies gain from their relationships with other companies, enables family firms to assemble the resources (especially knowledge) necessary for successful adaptation. Connecting with new ventures, the vanguard of radical change, is a priority for family firms seeking to achieve survival, profitability and growth. Yet, new ventures are often not well known and their networks are poorly structured, making access to them difficult. Using the relational perspectives on interorganizational relationships, this study proposes that family firms can employ their OSC to reach new ventures. Family firms can invest in these ventures, build profitable business relationships and alliances with them, as well as assist in governing their operations. Data from 779 companies show that family firms are in better positions to harvest their large OSC stocks to connect with new ventures. The results underscore the value of OSC as an important relational resource for family firms.
Unequal Japan: Conservative Corporatism and Labour Market Disparities
Authors: Yun Ji‐Whan
Published: January 2010

The majority of the literature on the increasing labour market disparities in Japan has attributed the trend to changing market circumstances or new government policies. However, this article claims that widening income disparities, especially between regular and non‐regular workers, are more deeply rooted in the nature of Japan's policy‐making mechanism. Combining industrial actors' conservative orientation towards dual labour markets and their corporatist interactions for policy making, this article argues that Japan's disparity problem has originated from its ‘conservative corporatism’. The article presents the manner in which conservative corporatism has widened the disparities in employment security and welfare benefits.
Managing European Policy at Home: Analysing Network Adaptation within the Core Executive
Authors: James Scott
Published: January 2010

This article seeks to analyse the changing nature of European policy making within national core executives. Using the Irish core executive as a case study, it sets out to map the process through which national EU policy is coordinated at the very heart of government, and to evaluate and explain the nature of adaptation over the past decade. The article is critical of traditional historical institutionalist accounts of domestic change that tend to downplay the nature and significance of adaptation to EU membership. Instead the study employs a distinctive strategic-relational network framework which aims to ‘add value’ to existing accounts in three main ways: first, by analysing shifting patterns of power dependency within the EU policy network; second, by exploring the way in which strategic actors interpret and shape the nature of change; and third, by offering a critical evaluation of the impact of adaptation. In this way the framework attempts to capture the fluidity, dynamism and wider significance of domestic change.
ALS disease onset may occur later in patients with pre‐morbid diabetes mellitus
Authors: Jawaid A. , Salamone A. R. , Strutt A. M. , Murthy S. B. , Wheaton M. , McDowell E. J. , Simpson E. , Appel S. H. , York M. K. , Schulz P. E.
Published: January 2010

Background  Several metabolic derangements associated with diabetes mellitus type 2 (DM) have been associated with a better outcome in amyotrophic lateral sclerosis (ALS), including hyperlipidemia and obesity. Here, we tested the hypothesis that DM would have a positive effect on the motor and cognitive findings of ALS.

Methods:  We compared data from ALS patients with pre‐morbid DM (ALS‐DM; n = 175) versus without DM (ALS; n = 2196) with regard to the age of onset, rate of motor progression, survival, and neuropsychological test performance.

Results:  The age of onset was later for women, Caucasians and patients with bulbar‐onset ALS. However, we also found that after adjusting for gender, ethnicity and site of onset, DM was associated with a 4‐year later onset of ALS (ALS = 56.3, ALS‐DM = 60.3, P < 0.05).

Conclusion:  Diabetes mellitus type 2 may delay the onset of motor symptoms in ALS. These findings support other studies suggesting a relationship between the pathophysiology of ALS and metabolic derangements. Further investigations are needed to ascertain whether manipulating metabolic parameters would improve outcomes in ALS.
Low Unemployment and Bad Jobs for New Immigrants in Italy
Authors: Fullin Giovanna , Reyneri Emilio
Published: January 2010

The article analyses the incorporation of immigrants into the Italian labour market and the difficulties they encounter in accessing both employment and qualified occupations. The analysis is based on the Italian Labour Force Survey and highlights the fact that the great majority of immigrants entering Italy are hardly disadvantaged in comparison to Italians as regards the risk of unemployment, but, in contrast, they are highly disfavoured as regards the socio‐professional status of their jobs. Unlike what would happen with the old European immigration, nowadays the segregation of immigrant workers in the lowest ranks of the occupational ladder is not due to their poor education. On the contrary, their disadvantage increases if educational attainment is taken into account. The leading role of low‐skilled labour demand and underground economy in shaping immigrants’ integration in the Italian labour market is confirmed by the fact that they have fairly easy access to unskilled and semi‐skilled manual jobs, whereas they experience serious difficulties in entering self‐employment and in obtaining non‐manual jobs.
Moisturizing and anti‐sebum secretion effects of cosmetic application on human facial skin
Authors: Cheng Y. , Dong Y. , Wang J. , Dong M. , Zou Y. , Ren D. , Yang X. , Li M. , Schrader A. , Rohr M. , Liu W.
Published: January 2010

J. Cosmet. Sci., 60, 7–14 (January/February 2009)

Synopsis

For human skin, high water content and low sebum secretion are considered to be main features of fair skin. To explore the proper personal care regimen for facial skin, we investigated the change of skin physiologic parameters after cosmetic application by measuring the skin water content, transepidermal water loss, and skin sebum secretion on facial skin before and after the cosmetic application using the Corneometer, Tewameter, and Sebumeter, respectively. The results indicated that the cosmetics application kept a higher water content and a lower transepidermal water loss, and at the same time, a lower sebum secretion 4 h and 8 h after the cosmetic application, compared with those before it. The situation was maintained in the succeeding three week continuous use of the cosmetics. It could be concluded that the cosmetic application on human facial skin might provide some moisturizing effect and at the same time an anti‐sebum effect, which favors the maintenance of good skin physiological function after applying skin care products. Our results might provide a scientific personal care regimen for human facial skin to prompt the balance for the hydrolipid film on skin.
Maternal control of Pol IV‐dependent siRNAs in Arabidopsis endosperm
Authors: Mosher Rebecca A.
Published: January 2010

Small RNAs recently emerged as ubiquitous regulators of gene expression. However, the most abundant class of small RNAs in flowering plants is poorly understood. Known as Pol IV‐dependent (p4‐)siRNAs, these small RNAs are associated with transcriptional gene silencing, transposable elements and heterochromatin formation. Recent research demonstrates that they are initially expressed in the maternal gametophyte and uniparentally expressed from maternal chromosomes in developing endosperm. This unique expression pattern links p4‐siRNAs to double fertilization, parental genome interactions and imprinted gene expression.
Who teaches them to consume: a study of Brazilian youngsters
Authors: Beyda Tânia Tisser
Published: January 2010

This article is aligned with Burgess and Steenkamp's suggestion of the need for a marketing renaissance through research into emerging markets in order to advance marketing science and practice. The objective was to study the consumer socialization of pre‐adolescents and adolescents living in the city of Rio de Janeiro. The study also seeks to understand the consumer socialization process and primary influences. Being an exploratory study, it was developed through interviews with 10 participants, aged 11–13. Findings highlighted aspects not yet reported by the international literature, such as the postponement of mobility and autonomy for consumer behaviour because of parents' concerns with violence in a major urban centre. Another issue that is discussed is the probability that grandparents and domestic workers act as potential agents for children's consumer socialization.
A 1‐year follow up of psychological wellbeing after subtotal and total hysterectomy—a randomised study
Authors: Persson P , Brynhildsen J , Kjølhede P ,   on behalf of the Hysterectomy Multicentre Study Group in South‐East Sweden
Published: January 2010

Please cite this paper as: Persson P, Brynhildsen J, Kjølhede P on behalf of the Hysterectomy Multicentre Study Group in South‐East Sweden. A 1‐year follow up of psychological wellbeing after subtotal and total hysterectomy—a randomised study. BJOG 2010;117:479–487.

Objective  To compare subtotal abdominal hysterectomy (SH) and total abdominal hysterectomy (TH) regarding influence on postoperative psychological wellbeing and surgical outcome measurements.

Design  A prospective, open, randomised multicentre trial.

Setting  Seven hospitals and one private clinic in the south‐east of Sweden.

Population  Two‐hundred women scheduled for abdominal hysterectomy for benign conditions were enrolled in the study; 179 women completed the study (94 SH and 85 TH).

Methods  Four different psychometric tests were used to measure general wellbeing, depression and anxiety preoperatively, and at 6 and 12 months postoperatively. Statistical analysis of variance and covariance were used.

Main outcome measures  Effects of operating method on psychological wellbeing postoperatively. Analysis of demographic, clinical and surgical data, including peri‐ and postoperative complications and complaints at follow up.

Results  No significant differences were observed between the two groups in any of the psychometric tests. Both surgical methods were associated with a significantly higher degree of psychological wellbeing at 6 and 12 months postoperatively, compared with preoperatively. No significant differences were found in the clinical measures including complications. A substantial number of women experienced persistent cyclic vaginal bleedings after SH. Neither minor or major postoperative complications, nor serum concentration of sex hormones, were associated with general psychological wellbeing 12 months after the operation.

Conclusions  General psychological wellbeing is equally improved after both SH and TH within 12 months of the operation, and does not seem to be associated with the occurrence of peroperative complications or serum concentration of sex hormones.
Short‐term recovery after subtotal and total abdominal hysterectomy—a randomised clinical trial
Authors: Persson P , Brynhildsen J , Kjølhede P ,   on behalf of the Hysterectomy Multicentre Study Group in South‐East Sweden
Published: January 2010

Please cite this paper as: Persson P, Brynhildsen J, Kjølhede P on behalf of the Hysterectomy Multicentre Study Group in South‐East Sweden. Short‐term recovery after subtotal and total abdominal hysterectomy—a randomised clinical trial. BJOG 2010;117:469–478.

Objective  To determine whether the day‐by‐day postoperative recovery differs between women undergoing subtotal and total abdominal hysterectomy, and to analyse factors associated with postoperative recovery and sick leave.

Design  A prospective, open, randomised multicentre trial.

Setting  Seven hospitals and one private clinic in the south‐east of Sweden.

Population  Two‐hundred women scheduled for hysterectomy for benign conditions were enrolled in the study, and 178 women completed the study. Ninety‐four women were randomised to subtotal abdominal hysterectomy; 84 women were randomised to total abdominal hysterectomy.

Methods  The day‐by‐day recovery of general wellbeing was measured on a visual analogue scale in a diary 7 days preoperatively and 35 days postoperatively. Psychometric measurements included depression, anxiety and general psychological wellbeing.

Main outcome measures  Effects of operating method and preoperative wellbeing on the day‐by‐day recovery and duration of sick leave.

Results  No significant difference was found in the day‐by‐day recovery between operating methods. The day‐by‐day recovery of general wellbeing and duration of sick leave was strongly associated with the occurrence of minor complications, but not with major complications. The level of psychological wellbeing preoperatively was strongly associated with the day‐by‐day recovery of general wellbeing and duration of sick leave.

Conclusions  Day‐by‐day recovery of general wellbeing is no faster in subtotal versus total abdominal hysterectomy. Independent of operation method there is an interaction between preoperative psychological wellbeing, postoperative recovery of general wellbeing and the duration of sick leave. Postoperative complications and preoperative psychological wellbeing are strong determinants for the duration of sick leave. There is a need for intervention studies with a focus on complications and preoperative wellbeing.
Are sexual problems more common in women who have had a tubal ligation? A population‐based study of Australian women
Authors: Smith A , Lyons A , Ferris J , Richters J , Pitts M , Shelley J
Published: January 2010

Please cite this paper as: Smith A, Lyons A, Ferris J, Richters J, Pitts M, Shelley J. Are sexual problems more common in women who have had a tubal ligation? A population‐based study of Australian women. BJOG 2010;117:463–468.

Objective  To investigate whether women who have had a tubal ligation are more likely to experience sexual problems than other women.

Design  Population‐based telephone survey.

Setting  Australia‐wide, including cities, regional towns, and rural areas.

Population  A total of 3448 Australian women aged between 16 and 64 years.

Methods  Women were surveyed using random‐digit dialling throughout 2004 and 2005.

Main outcome measures  Prevalence of sexual problems and ratings of sexual satisfaction, relationship satisfaction, and sexual pleasure.

Results  From a weighted sample of 2721 women, 447 (16.4%) reported having had a tubal ligation, with 85.0% currently aged between 40 and 64 years. Having a tubal ligation was not associated with any specific sexual problem, such as physical pain during sex or an inability to reach orgasm. In fact, after controlling for age and other sociodemographic differences, sterilised women were significantly less likely than non‐sterilised women to lack an interest in having sex (OR 0.69, 95% CI 0.54–0.89), to take ‘too long’ to reach orgasm (OR 0.69, 95% CI 0.50–0.96), to experience vaginal dryness during sex (OR 0.70, 95% CI 0.50–0.96), and to find sex unpleasurable (OR 0.64, 95% CI 0.46–0.90). Sterilised women were also more likely to experience extremely high levels of sexual satisfaction (OR 1.66, 95% CI 1.27–2.18), relationship satisfaction (OR 1.29, 95% CI 1.01–1.67), and sexual pleasure (OR 1.59, 95% CI 1.20–2.12).

Conclusions  Our findings suggest no adverse effects, and possibly some benefits, for the sexual lives of women undergoing tubal ligation. These findings should be included with other educational material for couples considering sterilisation as a contraception option.
Evidence of placental haemorrhage and preterm delivery
Authors: Gargano JW , Holzman CB , Senagore PK , Reuss ML , Pathak DR , Williams MA , Fisher R
Published: January 2010

Please cite this paper as: Gargano J, Holzman C, Senagore P, Reuss M, Pathak D, Williams M, Fisher R. Evidence of placental haemorrhage and preterm delivery. BJOG 2010;117:445–455.

Objective  To evaluate evidence of placental haemorrhage (PH) obtained through maternal interviews, patient charts and placental pathology examinations as potential indicators of a ‘bleeding pathway’ to preterm delivery (PTD).

Design  Prospective cohort.

Setting  Fifty‐two clinics in five communities in Michigan, USA (1998–2004).

Population  A subset (n = 996) of cohort participants with complete placental pathology data.

Methods  First‐trimester bleeding and placental abruption were ascertained by mid‐trimester interviews and chart review, respectively. Disc‐impacting blood clot was defined as a gross placental examination finding of a blood clot impacting adjacent tissue. Microscopic haemorrhage was defined as ‘high’ (top quintile) scores on an aggregate measure of placental pathology findings suggestive of atypical maternal vessel haemorrhage. These four PH indicators were compared with one another and with risk of PTD assessed by logistic regression analyses.

Main outcome measures  Preterm delivery and PTD subtypes (i.e. <35 weeks, 35–36 weeks; spontaneous, medically indicated) compared with term deliveries.

Results  Placental abruption cases had 2.3‐fold to 5.5‐fold increased odds of the other three PH indicators. Disc‐impacting blood clots and microscopic haemorrhage were associated with one another (odds ratio [OR] = 4.6), but not with first‐trimester bleeding. In a multivariable model that included all four PH indicators and confounders, risk of PTD < 35 weeks was elevated with first‐trimester bleeding (OR = 1.9 [1.0, 3.4]), placental abruption (OR = 5.2 [1.7, 16.2]), disc‐impacting blood clots (OR = 2.3 [1.0, 5.0]) and microscopic haemorrhage (OR = 2.4 [1.4, 4.2]).

Conclusions  Multiple clinical and subclinical PH indicators are associated with PTD, particularly early PTD.
The interrelationship of complement‐activation fragments and angiogenesis‐related factors in early pregnancy and their association with pre‐eclampsia
Authors: Lynch AM , Murphy JR , Gibbs RS , Levine RJ , Giclas PC , Salmon JE , Holers VM
Published: January 2010

Please cite this paper as: Lynch A, Murphy J, Gibbs R, Levine R, Giclas P, Salmon J, Holers V. The interrelationship of complement‐activation fragments and angiogenesis‐related factors in early pregnancy and their association with pre‐eclampsia. BJOG 2010; 117:456–462.

Objective  To determine the interrelationships during early pregnancy of complement‐activation fragments Bb, C3a and sC5b‐9, and angiogenesis‐related factors placental growth factor (PiGF), soluble fms‐like tyrosine kinase‐1 (sFlt‐1) and soluble endoglin (sEng), and their associations with pre‐eclampsia.

Design  Prospective cohort study.

Setting  Denver complement study (June 2005–June 2008).

Population  A total of 668 pregnant women with singleton gestations, recruited between 10 and 15 weeks of gestation.

Methods  Using univariable and multivariable logistic regression analysis, concentrations of complement‐activation fragments and angiogenesis‐related factors were compared between 10 and 15 weeks of gestation in women who subsequently did or did not develop pre‐eclampsia. Interrelationships between these variables were tested using the non‐parametric Spearman rank correlation coefficient.

Main outcome measure  Pre‐eclampsia. The association of complement‐activation fragments and angiogenesis‐related factors with obesity was also examined.

Results  The mean (±SD) levels of complement Bb in early pregnancy among women who did and did not develop pre‐eclampsia were 0.84 (±0.26) μg/ml and 0.69 (±0.2) μg/ml, respectively (P = 0.001). Concentrations of PiGF were significantly (P = 0.01) lower (31 ± 12 pg/ml) in early pregnancy in the pre‐eclamptic group of women, as compared with the normotensive group (39 ± 32 pg/ml). The adjusted odds ratio (AOR) of Bb and PiGF were 2.1 (CI = 1.4–3.1, P < 0.0003) and 0.2 (CI = 0.07–0.7, P = 0.01), respectively. There was no significant difference in the levels of C3a, sC5b‐9, sFlt‐1 and sEng in early pregnancy among women who developed pre‐eclampsia, compared with women who remained normotensive during pregnancy. Higher levels of Bb (P = 0.0001) and C3a (P = 0.03), and lower levels of sFlt‐1 (P = 0.0002) and sEng (P = 0.0001) were found among women with obesity, compared with non‐obese controls. No meaningful relationships were found between the complement‐activation fragments and the angiogenesis‐related factors.

Conclusions  In this cohort during early pregnancy, increased concentrations of complement‐activation factor Bb and lower concentrations of PiGF were associated with the development of pre‐eclampsia later in pregnancy.
Reproducibility of Blood Pressure Response to Hydrochlorothiazide
Authors: Finkielman Javier D. , Schwartz Gary L. , Chapman Arlene B. , Boerwinkle Eric , Turner Stephen T.
Published: January 2010

Few studies have investigated the reproducibility of responses to antihypertensive therapies. The purpose of this study was to assess the reproducibility of the blood pressure response to a thiazide diuretic, a preferred initial treatment for hypertension. Twenty‐two subjects who underwent monotherapy with hydrochlorothiazide as part of a study to identify predictors of blood pressure response agreed to undergo the same protocol a second time, 26.6±11.8 (range, 4–52) months after their first participation. The mean systolic and diastolic blood pressure responses to hydrochlorothiazide did not differ significantly between the first and second participation (systolic response, −14.2±16.4 mm Hg vs. −16.0±16.5 mm Hg; diastolic response, −7.1±11.8 mm Hg vs. −6.6±8.6 mm Hg), and these responses were significantly correlated between the two trials (systolic response, r=0.61 and p>0.01; diastolic response, r=0.64 and p<0.01). However, both the direction and magnitude of responses for individual subjects varied considerably, with the limits of agreement between the first and second participations (i.e., 2 standard deviations above and below the mean difference between responses) ranging from 27.4 mm Hg to −23.8 mm Hg for systolic blood pressure response and from 17.4 mm Hg to −18.4 mm Hg for diastolic blood pressure response. These results show that the average systolic and diastolic blood pressure responses to hydrochlorothiazide for a group of subjects are reproducible; however, the responses for individual subjects are unpredictable.
CEO Pay‐For‐Performance Heterogeneity Using Quantile Regression
Authors: Hallock Kevin F. , Madalozzo Regina , Reck Clayton G.
Published: January 2010

We provide some examples of how quantile regression can be used to investigate heterogeneity in pay‐firm size and pay‐performance relationships for U.S. CEOs. For example, do conditionally (predicted) high‐wage managers have a stronger relationship between pay and performance than conditionally low‐wage managers? Our results using data over a decade show, for some standard specifications, there is considerable heterogeneity in the returns‐to‐firm performance across the conditional distribution of wages. Quantile regression adds substantially to our understanding of the pay‐performance relationship. This heterogeneity is masked when using more standard empirical techniques.
Signaling, Free Cash Flow and “Nonmonotonic” Dividends
Authors: Fuller Kathleen , Blau Benjamin M.
Published: January 2010

Many argue that dividends signal future earnings or dispose of excess cash. Empirical support is inconclusive, potentially because no model combines both rationales. This paper does. Higher quality firms pay dividends to eliminate the free cash‐flow problem, while firms that outsiders perceive as lower quality pay dividends to signal future earnings and reduce the free cash‐flow problem. In equilibrium, dividends are nonmonotonic with respect to the signal observed by outsiders; the highest quality firms pay smaller dividends than lower perceived quality firms. The model reconciles the existing literature and generates new empirical predictions that are tested and supported.
Dividends versus Share Repurchases Evidence from Canada: 1985–2003
Authors: Kooli Maher , L'Her Jean‐François
Published: January 2010

This paper provides out‐of‐sample evidence on the payout policy in Canada during the 1985–2003 period. First, we show that the proportion of nonfinancial firms paying dividends has decreased, while the proportion initiating repurchase programs has increased. We also show that Canadian firms paying dividends and repurchasing shares are extremely concentrated. Second, we focus on the factors that could affect the choice between repurchases and dividends. We find that dividends and repurchases are used by different types of firms. While we do not confirm the financial flexibility hypothesis, our results are consistent with the substitution hypothesis after controlling for selection bias and endogeneity.
The Ex‐dividend Day: Action On and Off the Danish Exchange
Authors: Akhmedov Umid , Jakob Keith
Published: January 2010

We examine ex‐dividend day behavior on the Copenhagen Stock Exchange. We report price‐drop ratios of 32% and 18% for close‐to‐close and close‐to‐open samples, respectively, well below the ratios observed in the United States. Our findings are generally consistent with limit order adjustment explanations from recent literature. In Denmark, a unique average price trading opportunity makes it possible for investors to capture dividends without directly altering supply or demand in the regular market, and therefore not necessarily driving the price‐drop ratios toward one.
Debt Issuance in the Face of Tax Loss Carryforwards
Authors: Anderson Anne‐Marie , Nayar Nandu
Published: January 2010

We examine the market impact of issuances of public and private debt by firms with sizeable tax loss carryforwards (TLCFs). Public issuances are met with a significantly negative stock price reaction, while private placements are associated with a positive marginally significant stock price reaction. After controlling for asymmetric information proxies, the stock price reaction to the debt issuance is more negative, the larger the TLCF. The evidence suggests that debt financing is suboptimal when issuers have large TLCFs, which in turn, supports the relevance of taxes for debt usage.
Investors' Use of Historical Forecast Bias to Adjust Current Expectations
Authors: Kwag Seung‐Woog (Austin) , Shrieves Ronald E.
Published: January 2010

We explore the extent to which investor response to earnings information differs in the presence of historical bias in earnings forecasts. Overall, the results are consistent with the notion that investors take historical forecast bias into account when interpreting information in earnings announcements and that the market's reaction to forecast errors is larger (less negative) when forecasts are historically more optimistic and suggests that the functional form commonly used in the earnings response literature does not appropriately capture the effect of real unexpected earnings information (i.e., investors' expectation errors as opposed to analysts' forecast errors) on stock returns.
Changes in the Information Efficiency of Stock Prices: Additional Evidence
Authors: DeFusco Richard A. , Mishra Suchi , Raghunandan K.
Published: January 2010

Previous research shows, using data from three quarters after the implementation of regulation fair disclosure (Reg FD), that there is an improvement in the informational efficiency of stock prices after Reg FD. We compare the informational efficiency of stock prices in four pre‐Reg FD quarters (1999–2000) and 12 post‐Reg FD quarters (2002–2005). The improvement in the informational efficiency of stock prices previously reported in the immediate aftermath of Reg FD persists in later periods.
A Note on Affordability and the Optimal Share Price
Authors: Chittenden William T. , Payne Janet D. , Toles J. Holland
Published: January 2010

Despite the increase in institutional ownership, decreased trading costs, and increased real personal savings, we find that the average stock price is lower today than it was in the 1920s. In the aggregate, the propensity to split is a function of recent market performance, personal savings, and the desirability of appearing to be a small firm. Our results indicate that, after decades of inflation and the average stock price falling, splitting stocks to return to an “affordable” trading range must be rejected as an explanation. This suggests that other economic forces are behind splits, whether traditional or behavioral in nature.
Theoretical Assessment of Nd:YAG Ceramic Laser Performance by Microstructural and Optical Modeling
Authors: Aschauer Ulrich , Bowen Paul
Published: January 2010

An approach combining microstructural and optical modeling based on atomistic simulation results is proposed, in order to assess the performance of Nd:YAG laser ceramics resulting from luminescence and transparency changes as a function of grain size and dopant concentration. It is found that while small grain sizes enhance transparency, luminescence is reduced, resulting in a trade‐off to achieve optimum laser performance. These effects are linked to ceramic production by considering different sintering routes. This improved insight into the microstructural effects of Nd:YAG ceramics on laser performance will allow a more targeted experimental optimization of this new class of laser materials.
Carbothermal Reduction of TiO(OH)2 in the Synthesis of (Ti,W)C
Authors: Lim Jaehyuk , Park Sangho , Kang Shinhoo
Published: January 2010

A (Ti,W)C solid‐solution powder was synthesized via high‐energy milling and carbothermal reduction of a TiO(OH)2, WO3, and graphite mixture. The phase evolution during the reduction of a system that contains TiO(OH)2 is discussed and compared with TiO2 systems in terms of the X‐ray diffractometry and thermogravimetric analysis results. It was found that the presence of water molecules in the hydrate system reduces the milling efficiency. However, there was no inhibitory effect on the reduction of the oxide mixtures or the synthesis of the (Ti,W)C.
Anelastic Behavior Modeling of SiC Whisker‐Reinforced Al2O3
Authors: Kong Juan , Provatas Nikolas , Wilkinson David S.
Published: January 2010

Anelastic recovery during creep deformation of a whisker‐reinforced Al2O3 matrix is examined in order to study the complex interactions of the reinforcement network with the matrix. In this paper, the finite‐element method is used to model the elastic and creep properties of a representative volume element during creep deformation. Two types of unit cells are investigated. The first is a three‐dimensional (3D) unit cell in which randomly oriented short fibers do not contact each other. The second case examined is a 2D cell within which fibers are aligned regularly so as to percolate through the unit cell. Simulation results from the 3D model verify the necessity of a percolating network for the anelastic recovery. Results from the 2D model show that anelastic recovery is attributed more to whisker bending, rather than to contact effects between fibers of the whisker network. Finally, FEM simulations of the maximum recoverable strain and characteristic relaxation time are found to be in good agreement with an analytical model recently developed by Wilkinson and Pompe, which is based on the application of Euler's beam theory in a 2D visco‐elastic unit cell.
Elevated‐Temperature Structural Transformation and Optical Transmission Behavior of KH2PO4 Single Crystals
Authors: Beal Russell J. , Kalva Madhuri , Potter Barrett G.
Published: January 2010

Thermally induced optical opacity in macroscopic potassium dihydrogen phosphate (KDP) single crystals is a significant issue in the application of these materials in optical systems subjected to adverse environments. The present study investigates the relationship between thermally mediated structural transformations in KDP (associated with both a high‐temperature phase transition and lattice dehydration effects) and the development of microcracking‐induced optical scattering. In this case, the kinetics of these processes are examined under elevated‐temperature, isothermal conditions. A significant temperature‐dependence in the elapsed time required to observe both the structural transformation (via in situ Raman spectroscopy) and crystal opacification (via single‐beam optical transmission) is observed. The phenomena are further correlated spatially within partially transformed specimens examined using optical microscopy and micro‐Raman spectroscopy, demonstrating the inherent heterogeneous nature of the structural transformation in these bulk crystals. In this study, a change in the isothermal hold temperature of only 10°C about the phase transition point decreased the elapsed time to transformation by nearly two orders of magnitude, significantly impacting an evaluation of optical performance in these materials under thermally variable conditions.
High Dielectric Composition in the System Sn‐Modified (1−x)BaTiO3–xBa(Cu1/3Nb2/3)O3, x=0.025 for Multilayer Ceramic Capacitors
Authors: Maurya Deepam , Ahn Cheol‐Woo , Zhang Shujun , Priya Shashank
Published: January 2010

We report the synthesis and characterization of BaTiO3 (BT)‐based high dielectric compositions that are promising for Y5V‐type multilayer ceramic capacitors. A solid solution with a nominal composition (1−x)BaTiO3–xBa(Cu1/3Nb2/3)O3 (BCN) (x=0, 0.025) was synthesized by conventional mixed oxide route, followed by compositional modification with varying concentration of Sn, as given by the formulation: 0.975 BaTi1−ySnyO3–0.025 Ba(Cu1/3Nb2/3)O3 (y=0.05, 0.06, 0.075, 0.1). Room‐temperature (RT) X‐ray diffraction patterns showed a decrease in the tetragonality of BT after modifying with BCN (BTBCN). Modifications with Sn lead to a further decrement in tetragonality and the RT structure became cubic at 6.0 at.% doping level. The decrement in tetragonality was accompanied by lowering of Curie temperature (Tc). BTBCN doped with 6 and 7.5 at.% Sn were found to exhibit diffuse phase transition accompanied by a high dielectric constant ≥7000, a low loss tangent ≤1% and a grain size in the submicrometer regime (≤1 μm).
The Relationship Between Microstructure and Fracture Toughness for Fibrous Materials for Diesel Particulate Filters
Authors: Gordon Tim , Shyam Amit , Lara‐Curzio Edgar
Published: January 2010

The Mode I fracture toughness of fibrous SiC and mullite materials with 60%–70% porosity was determined under ambient conditions using the double‐torsion test method. The fracture toughness values obtained were 0.27 and 0.34 MPa·m1/2 for fibrous SiC and mullite, respectively. These fibrous ceramics exhibit greater fracture resistance than porous monolithic ceramics with similar levels of porosity. A higher degree of cross‐linking between the fibers led to further improvement in the fracture characteristics of the fibrous material. The differences in fracture behavior can be explained by the microstructural differences between these two classes of materials. The combination of high porosity and high fracture toughness for fibrous materials makes them ideal candidates for applications in diesel particulate filtration.