bluuebunny/crossref_metadata_2025 huggingface dataset:
Restructuring physical geography
Authors: Gregory K.J. , Gurnell A.M. , Petts G.E.
Published: March 2003

The tripartite division of physical geography into geomorphology, climatology and biogeography is still often quoted, but developments in the last two decades have resulted in restructuring of the discipline. Significant publications by physical geographers now occur dominantly in multidisciplinary rather than in core geography journals. Analysis of the contents of ten journals and of the submissions to the 1996 UK Research Assessment Exercise (RAE) demonstrate the current pre‐eminence of two sub‐disciplines: geomorphology with hydrology, and Quaternary environmental change. Complementing research in the sub‐disciplines, six trends towards a more integrated physical geography are identified as indicators of restructuring that has already occurred. Three futures are suggested for physical geography. The first, the status quo, is thought to be unlikely. The second, the disappearance of physical geography into other disciplinary areas would leave holistic investigations to other disciplines and so is undesirable. Thus, the third alternative, a renaissance of a more integrated physical geography, provides the most likely future. It is supported by existing integrative trends, provides a natural sequel to reductionist specialization, reflects the strong identity for the geographical approach to the earth and environmental sciences and the spatio‐analytical approach integrating deductive and inductive studies, and it focuses on human–environmental interactions that could have implications for geography as a whole.
A Re‐examination of Disclosure Level and the Expected Cost of Equity Capital
Authors: Botosan Christine A. , Plumlee Marlene A.
Published: March 2003

This paper examines the association between the cost of equity capital and levels of annual report and timely disclosure, and investor relations activities. We estimate the cost of equity capital using the classic dividend discount model. We find that the cost of equity capital decreases in the annual report disclosure level but increases in the level of timely disclosures. The latter result is contrary to theory but is consistent with managers’ claims that greater timely disclosures may increase the cost of equity capital, possibly through increased stock price volatility. We find no association between the cost of equity capital and the level of investor relations activities. We conclude that aggregating across different disclosure types results in a loss of information. Failing to include all disclosure types in regression analyses may lead to a correlated omitted variable bias and erroneous conclusions.
Equity Valuation Using Multiples
Authors: Liu Jing , Nissim Doron , Thomas Jacob
Published: March 2003

We examine the valuation performance of a comprehensive list of value drivers and find that multiples derived from forward earnings explain stock prices remarkably well: pricing errors are within 15 percent of stock prices for about half our sample. In terms of relative performance, the following general rankings are observed consistently each year: forward earnings measures are followed by historical earnings measures, cash flow measures and book value of equity are tied for third, and sales performs the worst. Curiously, performance declines when we consider more complex measures of intrinsic value based on short‐cut residual income models. Contrary to the popular view that different industries have different “best” multiples, these overall rankings are observed consistently for almost all industries examined. Since we require analysts’ earnings and growth forecasts and positive values for all measures, our results may not be representative of the many firm‐years excluded from our sample.
Are Selling, General, and Administrative Costs “Sticky”?
Authors: Anderson Mark C. , Banker Rajiv D. , Janakiraman Surya N.
Published: March 2003

A fundamental assumption in cost accounting is that the relation between costs and volume is symmetric for volume increases and decreases. In this study, we investigate whether costs are “sticky”—that is, whether costs increase more when activity rises than they decrease when activity falls by an equivalent amount. We find, for 7,629 firms over 20 years, that selling, general, and administrative (SG&A) costs increase on average 0.55% per 1% increase in sales but decrease only 0.35% per 1% decrease in sales. Our analysis compares the traditional model of cost behavior in which costs move proportionately with changes in activity with an alternative model in which sticky costs occur because managers deliberately adjust the resources committed to activities. We test hypotheses about the properties of sticky costs and how the degree of stickiness of SG&A costs varies with firm circumstances.
Differences in Performance of Independent and Finance‐Affiliated Venture Capital Firms
Authors: Wang Kangmao , Wang Clement K. , Lu Qing
Published: March 2003

We examine the differences in the investment behavior of independent and finance‐affiliated venture capital firms (VCFs). We find that differences in internal management mechanisms and staff backgrounds lead to external performance differences. Using VC‐backed companies listed in Singapore as our sample, we find significant differences between these two types of VCFs in industry preference, investment duration, VCF syndication, number of board seats, initial underpricing, and long‐term market returns. Independent VCFs add more value to their portfolios. Thus, we conclude that the participation of independent VCFs is an important corporate‐level factor for the success of the venture capital market.
Direct and indirect pathways between adult attachment style and marital satisfaction
Authors: Meyers Steven A. , Landsberger Sarah A.
Published: March 2003

We explored direct, mediated, and moderated associations between adult attachment style and marital satisfaction using a community‐based sample of 73 married women. Continuous ratings of secure, avoidant, and ambivalent attachment styles were related to levels of marital satisfaction. However, psychological distress mediated the association between secure attachment and marital satisfaction, and social support mediated the relation between avoidant attachment and marital satisfaction. In addition, psychological distress moderated the relation between both secure and avoidant attachment styles and marital satisfaction.
Can we still be friends? Resources and barriers to friendship quality after romantic relationship dissolution
Authors: Busboom Amy L. , Collins Dawn M. , Givertz Michelle D. , Levin Lauren A.
Published: March 2003

Using a social exchange framework, this study examined the influence of resources, satisfaction with resources, and barriers on friendship quality between former dating partners. Three hundred and eighty‐six college students were surveyed regarding their current relationship with their most recent former romantic partner. Results indicated that participants who received more resources reported higher levels of friendship quality with their former partner. Satisfaction with resources moderated the relationship between receipt of resources and friendship quality. Lack of family or friends’ support, involvement in a new romantic relationship, and the use of neglect as a disengagement strategy were all found to be barriers to friendship quality.
Searching under the streetlight?: Age biases in the personal and family relationships literature
Authors: Fingerman Karen L. , Hay Elizabeth L.
Published: March 2003

Two studies addressing age biases in research on family and social relationships are presented. Study 1 involved a content analysis of nearly 1,000 empirical studies published in six major journals from 1994 to 1999. Studies in these journals generally were limited to samples of adults under the age of 45, though nearly one third of the studies failed to include information about the ages of adult participants. Most research focused on marital ties, romantic partnerships, or relationships between parents and young children. Study 2 (N = 186) assessed beliefs about the importance of various relationships to adults of different ages. Researchers who study relationships (n = 71), adults with advanced degrees in other fields (n = 57), and less–educated adults (n = 58) rated the importance of various social ties to themselves and to adults of different ages. In general, participants agreed that adults of different ages value different social ties. Less–educated individuals rated many social ties as more important than did researchers who study relationships, however. Age biases in sampling and the types of relationships that receive research attention are discussed.
Childless and Bereft?: Stereotypes and Realities in Relation to ‘Voluntary’ and ‘Involuntary’ Childlessness and Womanhood
Authors: Letherby Gayle
Published: March 2003

Drawing on my own personal and research experience and on the research of others I consider issues of definition, identity, support, and kinship in relation to lifecourse issues and the experience of ‘voluntarily’ and ‘involuntarily’ childless women. Motherhood is still considered to be a primary role for women and women who do not mother children (either biologically or socially) are often stereotyped as desperate or selfish. However, just as the experience of motherhood is complex and varied, so is the experience of nonmotherhood. Whereas some ‘voluntarily’ childless women define themselves as childfree and some ‘involuntarily’ childless women feel desperate some of the time, others are more ambivalent. In this article I draw on empirical work that considers the significance of ages and changes to the experience of nonmotherhood and that considers the particular and potential experience of older childless women. As well as demonstrating concerns and challenges, this work also suggests the need to challenge the caricature of the childless woman (and particularly the older childless woman) as bereft. In relation to this I extend my argument to consider both the myth that women who do not mother children of their ‘own’ always live a childfree life and critically evaluate the view that parenthood automatically leads to kinship support in old age.
Aging Childless Individuals and Couples: Suggestions for New Directions in Research
Authors: DeOllos Ione Y. , Kapinus Carolyn A.
Published: March 2003

A review of the literature regarding childless individuals and couples is presented. Suggestions for areas of research focus are provided for the readers’ consideration.
Resentment and Ressentiment
Authors: Meltzer Bernard N. , Musolf Gil Richard
Published: March 2003

In the latter part of the nineteenth century and the early part of the twentieth century, Friedrich Nietzsche formulated, and Max Scheler further developed, the concept of ressentiment. Nietzsche linked this emotion with the rise of Christian morality, while Scheler linked it primarily with the formation of the bourgeois ethos in Western Europe. The present paper endeavors to show similarities and differences between the emotion thus designated and the more commonly recognized emotion of resentment. Moreover, conceptual analysis of these emotions necessarily leads to consideration of the social situations likely to give rise to each, as well as their likely outcomes. This latter discussion strongly suggests a needed modification of Nietzsche’s and Scheler’s conceptualization of ressentiment.
Gender in an Allegorical Life of Muḣammad: Mahfouz's Children of Gebelawi
Authors: Roded Ruth
Published: March 2003

He was much moved by her gentleness and affection, as he was whenever he was lucky enough to meet her. It was an affection of a kind he had never known except from what he had heard about mother‐love. If his mother had lived she would have been about this woman's age, about forty. How wonderful this quality seemed in an alley that took pride in strength and violence. The only thing more wonderful was her shy beauty and the joy it breathed into him. It was not like the hot‐blooded adventures in the desert with their blind, burning hunger and their sad, transient satisfaction.1
Justice and Culture: Rawls, Sen, Acile Fabreo' Neill
Authors: Fabre CéAcile , Miller David
Published: March 2003

Is it possible, in a multicultural world, to hold all societies to a common standard of decency that is both high enough to protect basic human interests, and yet not biased in the direction of particular cultural values? We examine the recent work of four liberals – John Rawls, Amartya Sen, Martha Nussbaum and Onora O' Neill – to see whether any of them has given a successful answer to this question. For Rawls, the decency standard is set by reference to an idea of basic human rights that we argue offers too little protection to members of non-liberal societies. Sen and Nussbaum both employ the idea of human capabilities, but in interestingly different ways: for Sen the problems are how to weight different capabilities, and how to decide which are basic, whereas for Nussbaum the difficulty is that her favoured list of capabilities depends on an appeal to autonomy that is unlikely to be acceptable to non-liberal cultures. O' Neill rejects a rights-based approach in favour of a neo-Kantian position that asks which principles of action people everywhere could consent to, but this also may be too weak in the face of cultural diversity. We conclude that liberals need to argue both for a minimum decency standard and for the full set of liberal rights as the best guarantors of that standard over time.
Health Risk Assessment for Planned Waste Incinerators: Getting the Right Science and the Science Right
Authors: Snary Christopher
Published: March 2003

Health risk assessment is widely advocated in the United Kingdom as the most comprehensive means of assessing the health risks posed by the emissions of a planned waste incinerator. Its main advantage over other methods of assessment, such as air quality impact assessment, is its ability to address explicitly the direct (inhalation) and indirect (ingestion and dermal contact) health risks posed by different chemicals, including those that are not thought to have a threshold below which no adverse effect will take place. This article examines the level and quality of the emissions assessments included in 61 waste incinerator environmental statements (ESs); in particular, it focuses on the quality of the exposure assessment and risk characterization stages of the health risk assessment process. The article concludes that the ES has not always provided interested stakeholders with the best available information upon which to determine the tolerability of the health risks posed by waste incinerator emissions. Some recommendations are made as to how this problem might be addressed in future environmental impact assessment (EIA) processes.
The Precautionary Principle Versus Risk Analysis
Authors: Starr Chauncey
Published: March 2003

Precautionary behavior serves a valuable protective purpose as a first response to the new. It causes a quick retreat to the safety of the familiar; it provides time for a realistic “friend or foe” assessment of a new event. This rational assessment is often delayed by the sluggishness of government bureaucratic processes, or stopped by an implied challenge to a status quo. At the public level, reassurance may be slow to overcome an early uncertainty. However, a precautionary response does not provide an operational governing principle, although it makes publicly plausible an indefinite concealment of de facto political actions, or nonaction. The alternative of rational decision making at the policy level should flow from a comparative benefit/cost/risk analysis. Such early risk analyses have pragmatic uncertainties based on the limited available knowledge base and, accordingly, require judgmental application.
Impact of Microbial Ecology of Meat and Poultry Products on Predictions from Exposure Assessment Scenarios for Refrigerated Storage
Authors: Coleman Margaret E. , Sandberg Sonja , Anderson Steven A.
Published: March 2003

A novel extension of traditional growth models for exposure assessment of food‐borne microbial pathogens was developed to address the complex interactions of competing microbial populations in foods. Scenarios were designed for baseline refrigeration and mild abuse of servings of chicken broiler and ground beef. Our approach employed high‐quality data for microbiology of foods at production, refrigerated storage temperatures, and growth kinetics of microbial populations in culture media. Simple parallel models were developed for exponential growth of multiple pathogens and the abundant and ubiquitous nonpathogenic indigenous microbiota. Monte Carlo simulations were run for unconstrained growth and growth with the density‐dependent constraint based on the “Jameson effect,” inhibition of pathogen growth when the indigenous microbiota reached 109 counts per serving. The modes for unconstrained growth of the indigenous microbiota were 108, 1010, and 1011 counts per serving for chicken broilers, and 107, 109, and 1011 counts per serving for ground beef at respective sites for backroom, meat case, and home refrigeration. Contamination rates and likelihoods of reaching temperatures supporting growth of the pathogens in the baseline refrigeration scenario were rare events. The unconstrained exponential growth models appeared to overestimate L. monocytogenes growth maxima for the baseline refrigeration scenario by 1500–7233% (106–107 counts/serving) when the inhibitory effects of the indigenous microbiota are ignored. The extreme tails of the distributions for the constrained models appeared to overestimate growth maxima 110% (104–105 counts/serving) for Salmonella spp. and 108% (6 × 103 counts/serving) for E. coli O157:H7 relative to the extremes of the unconstrained models. The approach of incorporating parallel models for pathogens and the indigenous microbiota into exposure assessment modeling motivates the design of validation studies to test the modeling assumptions, consistent with the analytical‐deliberative process of risk analysis.
Life Insurance Liabilities at Market Value: An Analysis of Insolvency Risk, Bonus Policy, and Regulatory Intervention Rules in a Barrier Option Framework
Authors: Grosen Anders , Jørgensen Peter Løchte
Published: March 2003

This article takes a contingent claim approach to the market valuation of equity and liabilities in life insurance companies. A model is presented that explicitly takes into account the following: (i) the holders of life insurance contracts (LICs) have the first claim on the company's assets, whereas equity holders have limited liability; (ii) interest rate guarantees are common elements of LICs; and (iii) LICs according to the so‐called contribution principle are entitled to receive a fair share of any investment surplus. Furthermore, a regulatory mechanism in the form of an intervention rule is built into the model. This mechanism is shown to significantly reduce the insolvency risk of the issued contracts, and it implies that the various claims on the company's assets become more exotic and obtain barrier option properties. Closed valuation formulas are nevertheless derived. Finally, some representative numerical examples illustrate how the model can be used to establish the set of initially fair contracts and to determine the market values of contracts after their inception.
Insurance Fraud
Authors: Derrig Richard A.
Published: March 2003

Insurance fraud is a major problem in the United States at the beginning of the 21st century. It has no doubt existed wherever insurance policies are written, taking different forms to suit the economic time and coverage available. From the advent of “railway spine” in the 19th century to “trip and falls” and “whiplash” in the 20th century, individuals and groups have always been willing and able to file bogus claims. The termfraudcarries the connotation that the activity is illegal with prosecution and sanctions as the threatened outcomes. The reality of current discourse is a much more expanded notion of fraud that covers many unnecessary, unwanted, and opportunistic manipulations of the system that fall short of criminal behavior. Those may be better suited to civil adjudicators or legislative reformers. This survey describes the range of these moral hazards arising from asymmetric information, especially in claiming behavior, and the steps taken to model the process and enhance detection and deterrence of fraud in its widest sense. The fundamental problem for insurers coping with both fraud and systemic abuse is to devise a mechanism that efficiently sorts claims into categories that require the acquisition of additional information at a cost. The five articles published in this issue of theJournal of Risk and Insuranceadvance our knowledge on several fronts. Measurement, detection, and deterrence of fraud are advanced through statistical models, intelligent technologies are applied to informative databases to provide for efficient claim sorts, and strategic analysis is applied to property‐liability and health insurance situations.
Re‐Thinking Illegality as a Violence Against, not by Mexican Immigrants, Children, and Youth
Authors: Solis Jocelyn
Published: March 2003

Sociohistorical theory was used to examine illegality as a form of state violence that bears upon the formation of undocumented Mexican immigrants. This article proposes a theory of dialectical violence that integrates societal with personal enactments of violence through case illustrations of Mexican youth. In a grassroots association defending immigrants' rights, youth develop within conflicting discourses about undocumented immigrants proposed by society, family, and community. Methods included ethnographic analysis of the association's documents, a workshop in which five participants authored a booklet with texts and illustrations about their lives in the city, and an interview with their mothers. Findings illustrate how Mexican youth enter a cycle of violence as a result of their undocumented status, socioeconomic class, language and ethnic‐racial memberships.
On Defending Controversial Viewpoints: Debates of Sixth Graders About the Desirability of Early 20th‐Century American Immigration
Authors: MacArthur Charles A. , Ferretti Ralph P. , Okolo Cynthia M.
Published: March 2003

Sixth‐grade students with and without mild disabilities participated in an eight‐week project‐based investigation about immigration to the United States in the late 19th and early 20th centuries. Students' investigations were designed to promote their understanding of the perspectives of immigrants and Americans who opposed immigration, as well as the “ways of life” that gave impetus to immigration and often resulted in conflict between these groups. At the conclusion of these investigations, students were assigned the role of the immigrants or opponents of immigration and were asked to debate the desirability of immigration to the United States during this historical period. The primary focus of this article is on the opportunities afforded by, and the limitations of, these classroom debates. The debates promoted high levels of engagement and equal participation by students with and without disabilities as well as by boys and girls. Analyses of content and structure showed that students' discourse was influenced by the knowledge they gained during their investigations, but the use of this knowledge was shaped by the competitive rhetorical goal of defending a particular viewpoint. Later rounds of the debates were more balanced and drew more on the breadth of available knowledge than did earlier rounds. Overall, the debates were more typical of everyday arguments than academic arguments. The implications of our findings for the design of instructional opportunities in the social studies in inclusive classrooms are discussed.
Preliminary Evidence on the Social Standing of Students with Learning Disabilities in PALS and No–PALS Classrooms
Authors: Fuchs Douglas , Fuchs Lynn S. , Mathes Patricia G. , Martinez Elizabeth A.
Published: March 2003

Many researchers have documented the apparent fact that numerous students with LD have social–skill deficits and a lower social standing than their nondisabled peers. In principle, participation in peer tutoring would appear to be at least a partial solution. It requires classmates to work together on valued tasks and research indicates that it can promote academic growth among students with and without disabilities. Yet, little research has been conducted on the social benefits of peer tutoring. This study attempts to do precisely that by collecting sociometric data in 39 second– through sixth–grade classrooms, 22 of which were engaged in Peer–Assisted Learning Strategies (PALS), a form of peer tutoring. In each of the 39 classrooms, sociometric data are reported on four children—a student with LD and a low–achieving, average–achieving, and high–achieving student. Findings indicated that students with LD in PALS classes were (1) more socially accepted than their counterparts in No–PALS classes, and (2) enjoyed the same social standing as most nondisabled classmates. Strengths and weaknesses of this study are discussed, as are directions for future research.
VAT Revenues in the Russian Federation: The Role of Tax Administration in Their Decline
Authors: Mertens Jo Beth , Tesche Jean
Published: March 2003

Value added taxes (VATs) are important major revenue sources worldwide, yet keeping these taxes as easy to administer as possible is often overlooked. A poorly administered VAT raises less revenue than possible and can change the very nature of the tax, resulting in unintended economic distortions. This article analyzes the experience with the VAT in the Russian Federation and provides evidence that poor tax administration both contributed to the decline of VAT revenues beginning in 1993 and continues to hamper VAT revenue collection today. Administrative issues must not be ignored when implementing a consumption‐based tax like the VAT.
Interlocal Agreements as Overlapping Social Networks: Picket–Fence Regionalism in Metropolitan Kansas City
Authors: Thurmaier Kurt , Wood Curtis
Published: March 2003

Public policies addressing complex issues require transjurisdictional solutions, challenging hierarchical modes of public–service delivery. Interlocal agreements (ILAs) are long–established service–delivery instruments for local governments, and research suggests they are plentiful, with a majority of cities and counties involved in at least one ILA. Although ILAs are an established feature of local government operations, previous research is atheoretical, largely descriptive, and unsystematic. This article explores ILAs as social network phenomena, identifying the rationales and underlying values for various ILAs, central and peripheral actors, and brokering roles. In particular, we explore the utility of incorporating network exchange theory into public management network models to identify the relative power of actors in network exchange relationships. We find that a “norm of reciprocity” culture predominates an economizing value as the rationale for an abundance of service–oriented policy networks that produce a picket–fence regionalism of ILA participation in the Kansas City metropolitan area.
House Prices and Inflation
Authors: Anari Ali , Kolari James
Published: March 2003

The present paper examines the long‐run impact of inflation on homeowner equity by investigating the relationship between house prices and the prices of nonhousing goods and services, rather than return series and inflation rates as in previous empirical studies on the inflation hedging ability of real estate. There are two reasons for this methodological departure from prior practice: (1) while the total return on housing cannot be accurately measured, the total return on housing is fully reflected in housing prices, and (2) given that using returns or differencing a time series leads to a loss of long‐run information contained in the series, valuable long‐run information can be captured by using prices. Also, unlike previous related studies, we exclude housing costs from goods and services prices to avoid potential bias in estimating how inflation affects housing prices. Monthly data series are collected for existing and for new house prices as well as the consumer price index excluding housing costs for the period 1968–2000. Based on both autoregressive distributed lag (ARDL) models and recursive regressions, the empirical results yield estimated Fisher coefficients that are consistently greater than one over the sample period. Thus, we infer that house prices are a stable inflation hedge in the long run.
Predicting Spatial Patterns of House Prices Using LPR and Bayesian Smoothing
Authors: Clapp John M. , Kim Hyon–Jung , Gelfand Alan E.
Published: March 2003

This article is motivated by the limited ability of standard hedonic price equations to deal with spatial variation in house prices. Spatial patterns of house prices can be viewed as the sum of many causal factors: Access to the central business district is associated with a house price gradient; access to decentralized employment subcenters causes more localized changes in house prices; in addition, neighborhood amenities (and disamenities) can cause house prices to change rapidly over relatively short distances. Spatial prediction (e.g., for an automated valuation system) requires models that can deal with all of these sources of spatial variation. We propose to accommodate these factors using a standard hedonic framework but incoporating a semiparametric model with structure in the residuals modeled with a partially Bayesian approach. The Bayesian framework enables us to provide complete inference in the form of a posterior distribution for each model parameter. Our model allows prediction at sampled or unsampled locations as well as prediction interval estimates. The nonparametric part of our model allows sufficient flexibility to find substantial spatial variation in house values. The parameters of the kriging model provide further insights into spatial patterns. Out–of–sample mean squared error and related statistics validate the proposed methods and justify their use for spatial prediction of house values.
Religious Versus Secular Human Service Organizations: Implications for Public Policy
Authors: Twombly Eric C.
Published: March 2003

Objective. Tied to the notion that faith–related organizations provide a fresh alternative to secular social service nonprofits, the Bush Administration has proposed several controversial initiatives to increase the involvement of faith–based groups in addressing poverty in the United States. However, there is little empirical evidence on how these religious organizations raise or expend their resources or on how they differ from secular providers. Methods. Using descriptive and multivariate statistics, this article aims to add clarity to the debate over faith–based involvement in social service provision by examining the organizational and financial characteristics of more than 2,000 large, religious and secular human service providers. Results. The chief finding is that while faith–related and secular human services group have nearly identical expenditure patterns, they rely on different types of revenue to fund their services. Faith–based groups are significantly more likely than secular nonprofits to depend on donor contributions, while secular groups are substantially more inclined to rely on government grants and contracts. Conclusions. Despite the strong fiscal health of faith–related providers, their heavy dependence on donor contributions raises important questions regarding the utility of faith–based policy initiatives.
Innovating in Digital Government in the American States*
Authors: McNeal Ramona S. , Tolbert Caroline J. , Mossberger Karen , Dotterweich Lisa J.
Published: March 2003

Objective.The purpose of this research is to examine why some states have embraced digital government more extensively than others.

Methods.Multivariate regression analysis is used to empirically test explanations for state innovation in e‐government. The primary dependent variable is the percent of state‐level government websites offering online services to citizens.

Results.Republican‐controlled legislatures are more likely to embrace e‐government, implying that efficiency concerns may drive reliance on digital government. Innovators in e‐government were states with fewer households with Internet access and less use of the initiative process, indicating that citizen demand was not a factor. More extensive use of e‐government is also associated with legislative professionalization and professional networks—factors that may be useful for explaining the diffusion of other administrative reforms, and technical issues lacking political salience.

Conclusions.These data suggest e‐government implementation is driven by legislative professionalism and, to a lesser extent, state professional networks, rather than citizen demand. These indicators fitLowi's (1972)conception of “constituent policy” as a top‐down process, confined to administrative or legislative circles, compared to distributive, regulatory, and redistributive policy. We hypothesize that other administrative reforms, particularly those lacking political salience, may exhibit similar relationships with legislative professionalization and professional networks.
Risk Aversion, Transparency, and Market Performance
Authors: De Frutos M. Ángeles , Manzano Carolina
Published: March 2003

Using a model of market making with inventories based on Biais (1993), we find that investors obtain more favorable execution prices, and they hence invest more, when markets are fragmented. In our model, risk‐averse dealers use less aggressive price strategies in more transparent markets (centralized) because quote dissemination alleviates uncertainty about the prices quoted by other dealers and, hence, reduces the need to compete aggressively for order flow. Further, we show that the move toward greater transparency (centralization) may have detrimental effects on liquidity and welfare.
How Accurate Are Value‐at‐Risk Models at Commercial Banks?
Authors: Berkowitz Jeremy , O'Brien James
Published: March 2003

In recent years, the trading accounts at large commercial banks have grown substantially and become progressively more diverse and complex. We provide descriptive statistics on the trading revenues from such activities and on the associated Value‐at‐Risk (VaR) forecasts internally estimated by banks. For a sample of large bank holding companies, we evaluate the performance of banks trading risk models by examining the statistical accuracy of the VaR forecasts. Although a substantial literature has examined the statistical and economic meaning of Value‐at‐Risk models, this article is the first to provide a detailed analysis of the performance of models actually in use.
Learning, Asset‐Pricing Tests, and Market Efficiency
Authors: Lewellen Jonathan , Shanken Jay
Published: March 2003

This paper studies the asset‐pricing implications of parameter uncertainty. We show that, when investors must learn about expected cash flows, empirical tests can find patterns in the data that differ from those perceived by rational investors. Returns might appear predictable to an econometrician, or appear to deviate from the Capital Asset Pricing Model, but investors can neither perceive nor exploit this predictability. Returns may also appear excessively volatile even though prices react efficiently to cash‐flow news. We conclude that parameter uncertainty can be important for characterizing and testing market efficiency.
FX Trading and Exchange Rate Dynamics
Authors: Evans Martin D. D.
Published: March 2003

I examine the sources of exchange rate dynamics by focusing on the information structure of FX trading. This structure permits the existence of an equilibrium distribution of transaction prices at a point in time. I develop and estimate a model of the price distribution using data from the Deutsche mark/dollar market that prroduces two striking results: (1) Much of the short‐term volatility in exchange rates comes from sampling the heterogeneous trading decisions of dealers in a distribution that, under normal market conditions, changes comparatively slowly; (2) public news is rarely the predominant source of exchange rate movements over any horizon.
Does Distance Still Matter? The Information Revolution in Small Business Lending
Authors: Petersen Mitchell A. , Rajan Raghuram G.
Published: March 2003

The distance between small firms and their lenders is increasing, and they are communicating in more impersonal ways. After documenting these systematic changes, we demonstrate they do not arise from small firms locating differently, consolidation in the banking industry, or biases in the sample. Instead, improvements in lender productivity appear to explain our findings. We also find distant firms no longer have to be the highest quality credits, indicating they have greater access to credit. The evidence indicates there has been substantial development of the financial sector, even in areas such as small business lending.
Dividend Taxes and Share Prices: Evidence from Real Estate Investment Trusts
Authors: Getry William M. , Kemsley Deen , Mayer Christopher J.
Published: March 2003

Prior empirical evidence regarding the impact of dividend taxes on firm valuation is mixed. This study avoids some of the complications encountered in previous empirical work by exploiting institutional characteristics of REITs, such as their limited discretion over dividend policy and the relative transparency of REIT assets. We regress the market value of equity on the market value of assets and tax basis, which creates tax deductions that lower future dividend taxes without affecting future pretax cash flow. We find that firm value is positively related to tax basis, suggesting that future dividend taxes are capitalized into share prices.
Alpha Interferon Induces Distinct Translational Control Programs To Suppress Hepatitis C Virus RNA Replication
Authors: Wang Chunfu , Pflugheber Jill , Sumpter Rhea , Sodora Donald L. , Hui Daniel , Sen Ganes C. , Gale Michael
Published: March 2003

Hepatitis C virus (HCV) infection is treated with interferon (IFN)-based therapy. The mechanisms by which IFN suppresses HCV replication are not known, and only limited efficacy is achieved with therapy because the virus directs mechanisms to resist the host IFN response. In the present study we characterized the effects of IFN action upon the replication of two distinct quasispecies of an HCV replicon whose encoded NS5A protein exhibited differential abilities to bind and inhibit protein kinase R (PKR). Metabolic labeling experiments revealed that IFN had little overall effect upon HCV protein stability or polyprotein processing but specifically blocked translation of the HCV RNA, such that the replication of both viral quasispecies was suppressed by IFN treatment of the Huh7 host cells. However, within cells expressing an NS5A variant that inhibited PKR, we observed a reduced level of eukaryotic initiation factor 2 alpha subunit (eIF2α) phosphorylation and a concomitant increase in HCV protein synthetic rates, enhancement of viral RNA replication, and a partial rescue of viral internal ribosome entry site (IRES) function from IFN suppression. Assessment of the ribosome distribution of the HCV replicon RNA demonstrated that the NS5A-mediated block in eIF2α phosphorylation resulted in enhanced recruitment of the HCV RNA into polyribosome complexes in vivo but only partially rescued the RNA from polyribosome dissociation induced by IFN treatment. Examination of cellular proteins associated with HCV-translation complexes in IFN-treated cells identified the P56 protein as an eIF3-associated factor that fractionated with the initiator ribosome-HCV RNA complex. Importantly, we found that P56 could independently suppress HCV IRES function both in vitro and in vivo, but a mutant P56 that was unable to bind eIF3 had no suppressive action. We conclude that IFN blocks HCV replication through translational control programs involving PKR and P56 to, respectively, target eIF2- and eIF3-dependent steps in the viral RNA translation initiation process.
CC Chemokine Ligand 3 (CCL3) Regulates CD8+-T-Cell Effector Function and Migration following Viral Infection
Authors: Trifilo Matthew J. , Bergmann Cornelia C. , Kuziel William A. , Lane Thomas E.
Published: March 2003

Chemokines induce the directional migration of targeted populations of leukocytes during periods of inflammation. Moreover, these molecules also regulate T-cell activation and differentiation following antigenic stimulation. In the present study, the contributions of the CC chemokine ligand 3 (CCL3) to the differentiation and migration of effector T cells in response to viral infection of the central nervous system (CNS) were analyzed. CCL3−/−mice infected with mouse hepatitis virus exhibited a significant reduction of virus-specific CD8+T cells within the CNS, correlating with delayed viral clearance. Decreased infiltration of CD8+T cells into infected CCL3−/−mice was associated with enhanced accumulation of primed CD8+T cells in cervical lymph nodes. Although virus-specific CD8+T cells from CCL3−/−mice were CD44high, they remained CD62Lhighand CD25low, retained CCR7 expression, and contained limited transcripts of the proinflammatory chemokine receptors CCR5 and CXCR3 compared with virus-specific CD8+T cells from CCL3+/+mice. Furthermore, the absence of CCL3 impaired the cytokine production and cytolytic activity of CD8+T cells. In addition, macrophage accumulation within the CNS was significantly decreased in infected CCL3−/−mice, correlating with reduced demyelination. These results suggest that CCL3 not only mediates macrophage chemotaxis but also significantly enhances differentiation of primed CD8+T cells into effector cells and their release into circulation, thus potentiating effective migration to the site of infection.
Limited Breadth of a T-Helper Cell Response to a Human Immunodeficiency Virus Envelope Protein
Authors: Zhan X. , Slobod K. S. , Surman S. , Brown S. A. , Lockey T. D. , Coleclough C. , Doherty P. C. , Hurwitz J. L.
Published: March 2003

Single-envelope human immunodeficiency virus (HIV) vaccines have been studied for more than a decade, with some successes in homologous challenge experiments in nonhuman primates but with no clear successes in clinical trials. To gain insight into the breadth of the immunity elicited by such vaccines, we have dissected the T-helper cell response of C57BL/6 mice to an individual, molecularly cloned envelope protein. Here, we report that T-helper cells responsive to HIV type 1 1035 envelope are very highly restricted in C57BL/6 animals: seven different hybridomas recovered from five separate mice recognized the same peptide, PKVSFEPIPIHYCAP, located in the C2 region of gp120. Three of these hybridomas were tested on a natural variant of the peptide but failed to respond. A more extensive analysis of whole splenic populations from other C57BL/6 mice immunized with the 1035 envelope reproducibly confirmed that the gp120-specific T-helper response was almost exclusively focused on a single epitope. We conclude that single-envelope vaccines may frequently fail to provoke an immune response sufficiently diverse to recognize variant sequences among circulating HIV. The results encourage the inclusion of more than one envelope in future vaccines to enhance the potential diversity and respective surveillance capacities of responding T-helper cell populations.
Three-Dimensional Localization of pORF65 in Kaposi's Sarcoma-Associated Herpesvirus Capsid
Authors: Lo Pierrette , Yu Xuekui , Atanasov Ivo , Chandran Bala , Zhou Z. Hong
Published: March 2003

Of the six herpesvirus capsid proteins, the smallest capsid proteins (SCPs) share the least sequence homology among herpesvirus family members and have been implicated in virus specificity during infection. The herpes simplex virus-1 (HSV-1) SCP was shown to be horn shaped and to specifically bind the upper domain of each major capsid protein in hexons but not in pentons. In Kaposi's sarcoma-associated herpesvirus (KSHV), the protein encoded by the ORF65 gene (pORF65) is the putative SCP but its location remains controversial due to the absence of such horn-shaped densities from both the pentons and hexons of the KSHV capsid reconstructions. To directly locate the KSHV SCP, we have used electron cryomicroscopy and three-dimensional reconstruction techniques to compare the three-dimensional structure of KSHV capsids to that of anti-pORF65 antibody-labeled capsids. Our difference map shows prominent antibody densities bound to the tips of the hexons but not to pentons, indicating that KSHV SCP is attached to the upper domain of the major capsid protein in hexons but not to that in pentons, similar to HSV-1 SCP. The lack of horn-shaped densities on the hexons indicates that KSHV SCP exhibits structural features that are substantially different from those of HSV-1 SCP. The location of SCP at the outermost regions of the capsid suggests a possible role in mediating capsid interactions with the tegument and cytoskeletal proteins during infection.
Human Coronavirus 229E: Receptor Binding Domain and Neutralization by Soluble Receptor at 37°C
Authors: Breslin Jamie J. , Mørk Irene , Smith M. K. , Vogel Lotte K. , Hemmila Erin M. , Bonavia Aurelio , Talbot Pierre J. , Sjöström Hans , Norén Ove , Holmes Kathryn V.
Published: March 2003

Truncated human coronavirus HCoV-229E spike glycoproteins containing amino acids 407 to 547 bound to purified, soluble virus receptor, human aminopeptidase N (hAPN). Soluble hAPN neutralized the infectivity of HCoV-229E virions at 37°C, but not 4°C. Binding of hAPN may therefore trigger conformational changes in the viral spike protein at 37°C that facilitate virus entry.
FUZZY ALGEBRAS OF THE GENERAL KÄHLER COSET SPACE G/S ⊗ U(1)k
Authors: AOYAMA SHOGO , MASUDA TAKAHIRO
Published: March 2003

We study the fuzzy structure of the general Kähler coset space G/S ⊗ U (1)k deformed by the Fedosov formalism. It is shown that the Killing potentials satisfy the fuzzy algebras working in the Darboux coordinates.
ON THE TEMPLATES CORRESPONDING TO CYCLE-SYMMETRIC CONNECTIVITY IN CELLULAR NEURAL NETWORKS
Authors: SHIH CHIH-WEN , WENG CHIH-WEN
Published: March 2003

In the architecture of cellular neural networks (CNN), connections among cells are built on linear coupling laws. These laws are characterized by the so-called templates which express the local interaction weights among cells. Recently, the complete stability for CNN has been extended from symmetric connections to cycle-symmetric connections. In this presentation, we investigate a class of two-dimensional space-invariant templates. We find necessary and sufficient conditions for the class of templates to have cycle-symmetric connections. Complete stability for CNN with several interesting templates is thus concluded.
UNIFORM ASYMPTOTIC EXPANSIONS FOR HYPERGEOMETRIC FUNCTIONS WITH LARGE PARAMETERS I
Authors: OLDE DAALHUIS A. B.
Published: March 2003

In this paper, we obtain an asymptotic expansion for the Gauss hypergeometric function2F1(a, b - λ; c + λ; -z), as |λ| → ∞. The expansion holds for fixed values of a, b, and c, and is uniformly valid for z in the domain | ph z| < π.
The Topic of Small Clauses
Authors: Basilico David
Published: March 2003

This article proposes that understanding the syntax and semantics of small clauses (SCs) requires understanding their topic structure. The article focuses on two observations: (a) the lack of passive for verbs that take bare infinitival complements and (b) the lack of a narrow scope interpretation for subjects raised from adjectival SCs. It shows that with bare infinitival complements, the subject of the SC is not the topic; this contrasts with adjectival SCs, where the subject must be a topic. The differences between verbal and adjectival SCs then follow. Finally, the article compares raising verbs with adjectival SC complements and raising verbs with infinitival complements, showing again that the differences in the syntax and semantics of such constructions are related to whether or not the subject of the embedded clause must be a topic.