bluuebunny/crossref_metadata_2025_split huggingface dataset:
Real Incentive Effects of Soft Information
Authors: Christensen Peter O. , Frimor Hans , Şabac Florin 
Published: May 2019

ABSTRACTBoth soft, noncontractible, and hard, contractible, information are informative about managerial ability and future firm performance. If a manager's future compensation depends on expectations of ability or future performance, then the manager has implicit incentives to affect the information. We examine the real incentive effects of soft information in a dynamic agency with limited commitment. When long‐term contracts are renegotiated, the rewards for future performance inherent in long‐term contracts allow the principal partial control over the implicit incentives. This is because the soft information affects the basis for contract renegotiation. With short‐term contracts, the principal has no control over the basis for contract negotiation, and thus long‐term contracts generally dominate short‐term contracts. With long‐term contracts, the principal's control over implicit incentives is characterized in terms of effective contracting on an implicit aggregation of the soft information that arises from predicting (forming expectations of) future performance. We provide sufficient conditions for soft information to have no real incentive effects. In general, implicit incentives not controllable by the principal include fixed effects, such as career concerns driven by labor markets external to the agency. When controllable incentives span the fixed effects of career concerns, the latter have no real effects with regard to total managerial incentives—they would optimally be the same with or without career concerns. Our analysis suggests empirical tests for estimating career concerns that should explicitly incorporate noncontractible information.
M&A Due Diligence, Post‐Acquisition Performance, and Financial Reporting for Business Combinations
Authors: Wangerin Daniel 
Published: May 2019

ABSTRACTBefore completing merger and acquisition (M&A) transactions, acquiring firms conduct due diligence. This process provides acquiring firms with a more informed assessment of the expected costs, benefits, and risks of an acquisition and offers one last opportunity to renegotiate or terminate an M&A transaction. However, acquiring firms must trade off the costs and benefits of performing additional due diligence versus completing the acquisition. Based on an analysis of the time to negotiate the acquisition agreement and complete the transaction, I predict and find that competitive pressures, short‐term financial reporting incentives, and agency problems are associated with less due diligence. I also find that less due diligence is associated with lower post‐acquisition profitability, a higher probability of acquisition‐related goodwill impairments, and lower quality fair value estimates for the acquired assets and liabilities. These findings highlight due diligence as an important factor explaining cross‐sectional variation in post‐acquisition performance and financial reporting for business combinations.
What Drives Investor Response to CSR Performance Reports?
Authors: Guiral Andres , Moon Doocheol , Tan Hun‐Tong , Yu Yao 
Published: May 2019

ABSTRACTRecent research finds that investors' assessments of a stock's fundamental value are influenced by corporate social responsibility (CSR) performance through the affect‐as‐information heuristic. We extend prior research by examining two boundary conditions for the use of this heuristic: (i) whether the CSR performance relates to activities that are integrated in a firm's core business practices (material CSR issues) or not (immaterial CSR issues), and (ii) whether the CSR performance is positive or negative. Employing an experimental method, we find that the affect‐as‐information heuristic applies only to immaterial CSR issues but not to material CSR issues, and only to positive but not negative CSR performance. Our findings suggest that investors likely use a heuristic approach to process immaterial and positive CSR issues, and a more deliberate and systematic approach to process material or negative CSR issues. Our study has both practical and theoretical implications.
Peer Effects among Financial Analysts
Authors: Do Truc (Peter) Thuc , Zhang Huai 
Published: May 2019

ABSTRACTWe hypothesize that the arrival of star analysts improves the performance of incumbent financial analysts, while the departure of star analysts has the opposite effect. Our results consistent with this hypothesis are concentrated primarily in the tests related to star arrivals. Our findings are robust to an instrumental variable approach and a falsification test. In addition, we hypothesize that the impact of the arrival/departure of star analysts is more pronounced when the star analyst covers the same industry as the incumbents (especially for industries with high uncertainty), when the star analyst is more established, when the incumbent analysts are less experienced, and when the brokerage house has fewer existing star analysts. Overall, our paper offers evidence of peer effects among financial analysts, mainly through the arrival of star analysts.
Trader Participation in Disclosure: Implications of Interactions with Management
Authors: Elliott W. Brooke , Grant Stephanie M. , Hobson Jessen L. , Asay Scott 
Published: May 2019

ABSTRACTTechnological advances are creating a shift in the information disclosure environment allowing more investors to interact with management. We examine three key levels of trader‐management interaction to assess the accuracy of traders' market‐tested value estimates and resulting market price. These data require an engaging experiment and a complex, contextually rich asset, which we create by playing a popular gaming app before the experiment. Participants view financial information, ask management questions, estimate value, and trade. We find that receiving non‐personalized question responses improves trader estimates of value and market price efficiency relative to when traders ask questions but do not expect a response. This occurs because traders exert more effort estimating value and trading. However, receiving personalized versus non‐personalized responses harms value estimates and market efficiency. This occurs because traders receiving personalized responses fixate on the interaction with management, dividing their attention and diverting it away from valuing and trading the asset.
Customer Concentration and Public Disclosure: Evidence from Management Earnings and Sales Forecasts
Authors: Crawford Steven , Huang Ying , Li Ningzhong , Yang Ziyun 
Published: May 2019

ABSTRACTThis study examines the association between customer base concentration and corporate public disclosure policy. When the customer base is more concentrated, large customers face lower costs of accessing the supplier firm's private information, reducing customers' overall demand for the supplier's public information, suggesting a negative association between customer concentration and the amount of public disclosure. Alternatively, large customers have greater bargaining power and may demand that the supplier firm provide more public disclosures. Consistent with customer concentration facilitating private information flow from the supplier to customers, we find that the frequencies of management earnings and sales forecasts are negatively associated with customer concentration among firms with major corporate customers. These associations are stronger when the supplier and customers are engaged in more relationship‐specific investments, when customers' private information acquisition costs are lower, and when it is less costly for customers to find another supplier.
Pharmacogenetic Role of Dopamine Transporter (SLC6A3) Variation on Response to Disulfiram Treatment for Cocaine Addiction
Authors: Kampangkaew June P. , Spellicy Catherine J. , Nielsen Ellen M. , Harding Mark J. , Ye An , Hamon Sara C. , Kosten Thomas R. , Nielsen David A. 
Published: May 2019

Background and ObjectivesDisulfiram has been beneficial in treating cocaine addiction in several studies. Patients with two SLC6A3 (DAT1) rs28363170 10‐repeat alleles who have with genetically high dopamine transporter (DAT) levels may benefit from increased dopamine levels resulting from disulfiram treatment.MethodsAfter stabilization for 2 weeks on methadone, 70 cocaine and opioid codependent patients were randomized into disulfiram and placebo groups for 12 weeks of treatment. We genotyped the SLC6A3 (DAT1) 40 bp 3′‐untranslated region variable number tandem repeat variant and evaluated its role in moderating disulfiram efficacy for cocaine dependence.ResultsAmong the 10,10‐repeat genotype group, cocaine‐positive urines dropped from 78% to 48% and from 80% to 75% among the 9‐repeat carrier group in the disulfiram group (P = 0.0001, with an effect size of 0.09). No difference was observed in cocaine‐positive urines in the placebo group between the 10,10‐repeat genotype and the 9‐allele carrier patients.Conclusions and Scientific SignificanceWe found that patients with genetically higher DAT levels had better treatment outcomes with disulfiram pharmacotherapy of cocaine dependence than those with lower DAT levels. (Am J Addict 2019;28:311–317)
Alteration of the mare's immune system by the synthetic progestin, altrenogest
Authors: Fedorka Carleigh Elizabeth , Ball Barry A. , Walker Olivia F. , Conley Alan J. , Corbin Cynthia J. , Lu Kristina G. , Hanneman Jessica M. , Troedsson Mats H.T. , Adams Amanda A. 
Published: May 2019

AbstractProblemProgestins are immunomodulatory in a variety of species. In the horse, the most commonly administered synthetic progestin is altrenogest (ALT), but its effect on the immune system of the non‐pregnant mare is unknown.MethodsPeripheral blood mononuclear cells (PBMCs) from diestrous mares were incubated with varying concentrations of progesterone (P4) or ALT to assess intracellular production of IFNγ and the expression of select cytokines. Additionally, ten mares received either ALT or VEH daily utilizing a switchback design beginning on the day of ovulation and continuing for 7 days. Circulating PBMCs and endometrial biopsies were obtained to assess the production and expression of the same cytokines.ResultsIn vitro, both P4 and ALT caused a dose‐dependent decrease in intracellular IFNγ in PBMCs. P4 caused a dose‐dependent decrease in the expression ofIFNγ, IL‐10andIL‐4,while ALT caused an increase in the expression ofIL‐6andIL‐1βin PBMCs. In vivo, ALT suppressed the intracellular levels of IFNγ in PBMCs on d6. While control mares experienced a decrease inIL‐1βexpression from d0 to d6, ALT‐treated mares did not. In the endometrium, ALT increased the expression ofIL‐1RNandIFNγin comparison with VEH‐treated mares.ConclusionP4 and ALT appear to alter the immune system of the non‐pregnant mare both systemically in addition to locally within the endometrium. Further research is necessary to determine the pathways through which this synthetic progestin functions on the immune system of the horse, and the consequences it may have.
Identification of testicular cancer driver genes by a cross‐species comparative oncology approach
Authors: Sanchez A. , Xu L. , Pierce J. L. , Lafin J. T. , Abe D. , Bagrodia A. , Frazier A. L. , Amatruda J. F. 
Published: May 2019

AbstractBackgroundGerm cell tumors arise in the testis, ovary, or extragonadal locations and have a wide range of histopathological and clinical presentations. The relative lack of animal models of germ cell tumors has impeded functional assessment of candidate driver genes. Previously, we described the development of testicular germ cell tumors in zebrafish carrying a mutation in bmpr1bb, a BMP family receptor, and demonstrated that human germ cell tumors have defects in BMP signaling.ObjectiveTo further credential the zebrafish model for studies of human germ cell tumor, and to elucidate conserved genetic programs underlying the development of germ cell tumor.Materials and MethodsWe used genetic techniques to ablate the germ cell lineage in developing fish and tested tumors for loss‐of‐heterozygosity of the wild‐type allele of bmpr1bb. We performed comparative gene expression profiling of zebrafish and human germ cell tumors and carried out functional studies of selected genes.ResultsAblation of germ cells completely prevents testis tumor formation in the fish, definitively establishing the germ cell origin of the tumors. Germ cell tumors in bmpr1bb heterozygous mutants retain the wild‐type allele, indicating haploinsufficiency of bmpr1bb as the mechanism of tumor formation. Comparison of RNA‐Seq and microarray data from human and zebrafish germ cell tumors revealed a unique overlapping signature shared by the zebrafish tumors with human seminomas, yolk sac tumors, and embryonal carcinomas. The most highly conserved gene set in this cross‐species analysis included potential driver genes such as JUP, which we show to be essential for germ cell tumor cell growth.ConclusionOur findings highlight the value of cross‐species comparative oncology for the identification of candidate human cancer genes.
Analysis of portal vein thrombosis after liver transplantation
Authors: Xue Zhicheng , Zhang Xuzhi , Li Zhongqiu , Deng Ronghai , Wu Linwei , Ma Yi 
Published: May 2019

BackgroundPortal vein thrombosis (PVT) is one of the most deadly complications after orthotopic liver transplantation (OLT). This study aimed to identify risk factors and summarize the experience of PVT management after OLT.MethodsThe clinical data of 407 adult patients received OLT from July 2011 to December 2015 was retrospectively investigated.ResultsThe incidence rate of PVT was 2.9% (12/407). Pre‐transplant PVT (P = 0.001), post‐operative transfusion of erythrocyte (P = 0.006) and platelet (P = 0.036) were significantly associated with PVT in the univariate analysis and the appearance of pre‐transplant PVT (P = 0.002, odds ratio 6.05) was the independent risk factor according to binary logistic regression. Among patients with PVT, three cases (3/12) received balloon dilation through selective catheterization of portal vein, five (5/12) received balloon‐expandable stent placement, three (3/12) received thrombectomy and surgical revascularization and one (1/12) received retransplantation. Six patients (6/12) died from various complications and the remaining six were followed up with normal liver function and patent portal vein.ConclusionsThe risk factors were pre‐transplant PVT and post‐operative transfusion of erythrocyte and platelet. To recipients with high risk, early diagnosis and prompt management of PVT are essential to improve prognosis.
Effects of growth hormone therapy on metabolic parameters, adipokine and endothelial dysfunction in prepuberal children
Authors: Cañete María Dolores , Valle‐Martos Rosario , Martos Rosario , Cañete Ramón , Valle Miguel , Jiménez‐Reina Luis 
Published: May 2019

AbstractAimTo determine whether non‐obese prepubertal children with growth hormone deficiency (GHD) present changes in lipid metabolism, and adipokines, and to assess the short‐term effects of growth hormone (GH) treatment on these parameters.MethodsProspective observational follow‐up and case–control (36 GHD children and 38 healthy children) study lasted for six months. Means of values from groups were compared, control group versus GHD baseline group, and GHD baseline group versus GHD after six months of GH replacement therapy. Lipid profile, glucose, insulin, homeostatic model assessment – insulin resistance (HOMA‐IR), leptin, adiponectin and soluble intercellular adhesion molecule‐1 (sICAM‐1) were all analysed.ResultsGrowth hormone deficiency children show higher baseline levels of total cholesterol, LDL cholesterol, triglycerides, Apo B and sICAM‐1, but lower levels of free fatty acids, insulin and HOMA‐IR. After six months of treatment, cholesterol, LDL cholesterol, Apo B, T cholesterol/HDL cholesterol, insulin, HOMA‐IR and leptin levels decreased. The changes in insulin and HOMA‐IR levels correlated inversely with the changes in HDL cholesterol and Apo A1 levels. A correlation was also observed between the changes in adiponectin levels and the changes in HDL cholesterol and Apo A1 levels. Variations in leptin levels were correlated with changes in triglycerides.ConclusionPrepubertal non‐obese GHD children present altered lipid profiles and adipokine levels. Replacement therapy with GH improves these variables.
Multiple actions of parathyroid hormone‐related protein in breast cancer bone metastasis
Authors: Martin T. John , Johnson Rachelle W. 
Published: May 2019

The sequence similarity within the amino‐terminal regions of parathyroid hormone (PTH) and PTH‐related protein (PTHrP) allows the two to share actions at a common site, the PTH1 receptor. A number of biological activities have been ascribed to actions of other domains within PTHrP. PTHrP production by late stage breast cancer has been shown to contribute to bone metastasis formation through promotion of osteoclast formation and bone resorption by action through PTH1 receptors. There is evidence also for a role for PTHrP early in breast cancer that is protective against tumour progression. No signalling pathway has been identified for this effect. PTHrP has also been identified as a factor promoting the emergence of breast cancer cells from dormancy in bone. In that case, PTHrP does not function through activation of PTH1 receptors, despite having very substantial effects on transcriptional activity of the breast cancer cells. This indicates actions of PTHrP that are non‐canonical, that is, mediated through domains other than the amino‐terminal. It is concluded that PTHrP has several distinct paracrine, autocrine, and intracrine actions in the course of breast cancer pathophysiology. Some are mediated through action at PTH1 receptors and others are controlled by other domains within PTHrP.LINKED ARTICLESThis article is part of a themed issue on The molecular pharmacology of bone and cancer‐related bone diseases. To view the other articles in this section visit http://onlinelibrary.wiley.com/doi/10.1111/bph.v178.9/issuetoc
Protective effects of leonurine against ischemic stroke in mice by activating nuclear factor erythroid 2‐related factor 2 pathway
Authors: Xie Yan‐Zhao , Zhang Xiang‐Jian , Zhang Cong , Yang Yang , He Jun‐Na , Chen Yan‐Xia 
Published: May 2019

AbstractAimsLeonurine has been shown to trigger antioxidant responses during ischemic stroke, and nuclear factor erythroid 2‐related factor 2 (Nrf‐2) imparts protective effects against oxidative injury. The present study has determined that leonurine prevents ischemic injury of brain tissues via Nrf‐2 pathway activation.MethodsMale ICR mice and Nrf‐2−/− mice were subjected to permanent middle cerebral artery occlusion (pMCAO) and received leonurine treatment at 2 hours after pMCAO by intraperitoneal injection. Neurological deficit scores as well as infarct volume were assessed to determine the neuroprotective role of leonurine. Nrf‐2 was investigated using Western blotting and real‐time polymerase chain reaction (RT‐PCR) analysis to elucidate the neuroprotective mechanism of leonurine. Commercial kits were employed to determine reactive oxygen species (ROS), superoxide (SOD), catalase (CAT), glutathione peroxidase (GSH‐Px), malonaldehyde (MDA), and glutathione (GSH). Vascular endothelial growth factor (VEGF) was evaluated by Western blotting and RT‐PCR analysis, and VEGF was localized using immunofluorescence.ResultsThe application of leonurine on ICR mice resulted in an improvement in neurological deficit scores and a reduction in infarct volume. Leonurine upregulated nuclear Nrf‐2 protein and increased total Nrf‐2 protein expression and mRNA levels. Leonurine regulated SOD, MDA, CAT, GSH, and GSH‐Px, and it significantly inhibited ROS production in ICR mice. Leonurine improved VEGF expression and increased VEGF expression in neurons, astrocytes, and endothelial cells. However, leonurine had no obvious beneficial effects on Nrf‐2−/− mice.ConclusionsLeonurine exerted neuroprotective effects, promoted antioxidant responses, and upregulated VEGF expression by activating the Nrf‐2 pathway.
A comparative study of Michel's medium versus honey as a transport medium for skin specimens prior to direct immunofluorescence microscopy and antigen mapping
Authors: Kumudhini Subraminiam , Pai Sathish , Rao Chythra , Rao Raghavendra 
Published: May 2019

AbstractBackgroundMichel's medium (MM) is currently the recommended transport medium for skin biopsy specimens prior to direct immunofluorescence (DIF) microscopy.ObjectiveTo compare the utility of honey with that of MM as a transport medium for skin biopsy specimens used for DIF and antigen mapping.MethodsGroup I consisted of 45 freshly‐taken skin specimens earmarked for DIF testing. It was divided into three groups (A, B and C), each containing 15 specimens. Biopsy specimens were sliced into two, one each for MM and honey. Samples in group A were processed at the end of week 1 while those in group B and C were processed at the end of weeks 2 and 4, respectively. Group II consisted of five specimens of epidermolysis bullosa (EB) which was further divided into three groups; two specimens were processed for antigen mapping at the end of week 1, while others were processed at the end of week 2 (two specimens) and 4 (one specimen).ResultsSensitivity of honey as a transport medium for skin biopsy specimens was 100%, 92.6% and 53.8% at weeks 1, 2 and 4, respectively. The antigen mapping was positive in all specimens.ConclusionUtility of honey was comparable to MM for DIF samples tested at weeks 1 and 2 but was lower at week 4.
Assessment of Alimentación Normal con Ajuste de Insulina (ANAIS), a Spanish version of the DAFNE programme, in people with Type 1 diabetes: a randomized controlled parallel trial
Authors: Sánchez‐Hernández R. M. , Alvarado‐Martel D. , López‐Plasencia Y. , Carrillo‐Domínguez A. , Jiménez‐Rodríguez A. , Rodríguez‐Cordero J. , Vera-Elzo T. , Santana del Pino Á. , Nóvoa‐Mogollón F. J. , Wägner A. M. 
Published: May 2019

AbstractAimTo evaluate the effects of Alimentación Normal con Ajuste de Insulina (ANAIS), a group‐based, therapeutic education programme for Type 1 diabetes based on a flexible insulin regimen adjusted to the individual's food intake.MethodsParticipants with Type 1 diabetes and HbA1c levels of 53–86 mmol/mol (7–10%) were recruited from outpatient clinics at a tertiary care centre. They were randomized (using opaque, sealed envelopes, with a 2:1 treatment allocation ratio) to attend the training course immediately (immediate ANAIS; intervention group) or a year later (delayed ANAIS; control group). The main outcome was HbA1c level at 1 year. Secondary outcomes included lipid levels, weight, hypoglycaemic events, insulin dose, treatment satisfaction, self‐perceived dietary freedom, quality of life and participant‐defined goals.ResultsA total of 48 participants were assigned to the intervention group and 32 to the control group. Twelve months after completing the training, adjusted HbA1c was not significantly different in the intervention group [64 ± 1.3 vs 68 ± 1.6 mmol/mol (8.0 ±0.1% vs 8.4 ±0.1%); P=0.081]. Treatment satisfaction was significantly higher in the intervention group, but no differences were found in hypoglycaemic events, weight, insulin dose or changes in dietary freedom. At 1 year after the intervention, 72% of the participants (vs 33% in the control group; P=0.046) reported exceeding their expectations regarding achievement of their main personal goal.ConclusionPromoting dietary freedom and empowering people with Type 1 diabetes through structured education programmes, such as ANAIS, improves treatment satisfaction and self‐defined goals. No significant improvement in HbA1c level was achieved.