bluuebunny/crossref_metadata_2025_split huggingface dataset:
Market states and mutual fund risk shifting
Authors: Popescu Marius , Xu Zhaojin 
Published: May 2017

Purpose
The purpose of this paper is to explore the motivation behind mutual funds’ risk shifting behavior by examining its impact on fund performance, while jointly considering fund managers’ compensation incentives and career concerns.

Design/methodology/approach
The study uses a sample of US actively managed equity funds over the period 1980-2010. A fund’s risk shifting is estimated as the difference between the fund’s intended portfolio risk in the second half of the year and the realized portfolio risk in the first half of the year. Using the state of the market to identify the dominating type of incentive that fund managers face, we examine the relationship between performance and risk shifting in a cross-sectional regression setting, using the Fama and MacBeth (1973) methodology.

Findings
The authors find that poorly performing (well performing) funds are likely to increase (decrease) their risk level in bull markets, while reducing (increasing) it during bear markets. Furthermore, we find that funds that increase risk underperform, while those that decrease their portfolio risk do not. In addition, we find that poorly performing funds that increase (or decrease) their risk underperform across bull and bear markets, while well performing funds that reduce risk during bull markets subsequently outperform.

Originality/value
The paper contributes to the literature on mutual fund risk shifting by providing evidence that the performance consequence of such behavior is dependent on the state of the market and on the funds’ past performance. The results suggest that loser funds tend to be agency prone or be managed by managers with inferior investment skill, and that winner funds exhibit superior investment ability during bull markets. The authors argue that both the agency and investment ability hypotheses are driving fund managers’ risk shifting behavior.
The influence of earnings management and bank structure on bank performance
Authors: Ujah Nacasius U. , Brusa Jorge , Okafor Collins E. 
Published: May 2017

Purpose
The purpose of this paper is to examine the influence of bank structure and earnings management on bank performance in international markets. Specifically, the authors empirically examine non-foreign banks in the following emerging countries: Brazil, China, India, Mexico, Nigeria, Russia, and South Africa.

Design/methodology/approach
A review of loan loss portfolio and bank’s power structure is examined to formulate testable conjectures. The authors used data collected from Bankscope for the aforementioned countries. The data range is from 1997 to 2009.

Findings
The results suggest that: first, bank market structure and earnings management have a significantly negative influence on bank performance. Second, the negative influence is more pronounced in banks with higher level of concentration and earnings management.

Practical implications
The evidence suggest that banks with monopoly power have a greater incentive to establish lending relationships, and monopoly enhancing regulation in the financial sector at the time of the Civil War contributed to industrialization in the USA. The evidence in the emerging market suggest that monopoly power (bank structure) and propensity to manage earnings leads to lower bank performance. As such, helping bankers in understanding the effect of their bank structure in relation to their performance.

Originality/value
To the author’s knowledge, this is the first study that explores the determinants of managed earnings and bank structure on bank performance in emerging markets.
News and social media emotions in the commodity market
Authors: Shen Jiancheng , Najand Mohammad , Dong Feng , He Wu 
Published: May 2017

Purpose
Emotion plays a significant role in both institutional and individual investors’ decision-making process. Emotions affect the perception of risk and the assessment of monetary value. However, there is a lack of empirical evidence available that addresses how investors’ emotions affect commodity market returns. The purpose of this paper is to investigate whether media-based emotions can be used to predict future commodity returns.

Design/methodology/approach
The authors examine the short-term predictive power of media-based emotion indices on the following five days’ commodity returns. The research adopts a proprietary data set of commodity-specific market emotions, which is computed based on a comprehensive textual analysis of sources from newswires, internet news sources and social media. Time series econometrics models (threshold generalized autoregressive conditional heteroskedasticity and vector autoregressive) are employed to analyze 14 years (January 1998-December 2011) of daily observations of the CRB commodity market index, crude oil and gold returns, and the market-level sentiments and emotions (optimism, fear and joy).

Findings
The empirical results suggest that the commodity-specific emotions (optimism, fear and joy) have significant influence on individual commodity returns, but not on commodity market index returns. Additionally, the research findings support the short-term predictability of the commodity-specific emotions on the following five days’ individual commodity returns. Compared to the previous studies of news sentiment on commodity returns (Borovkova, 2011; Borovkova and Mahakena, 2015; Smales, 2014), this research provides further evidence of the effects of news and social media-based emotions (optimism, fear and joy) in the commodity market. Additionally, this work proposes that market emotion incorporates both a sentimental effect and appraisal effect on commodity returns. Empirical results are shown to support both the sentimental effect and appraisal effect when market sentiment is controlled in crude oil and gold spot markets.

Originality/value
This paper adopts the valence-arousal approach and cognitive appraisal approach to explain financial anomalies caused by investors’ emotions. Additionally, this is the first paper to explore the predictive power of investors’ emotions (optimism, fear and joy) on commodity returns.
Gain attraction in the presence of social interactions
Authors: Wuthisatian Rattaphon , Guerrero Federico , Sundali James 
Published: May 2017

Purpose
The purpose of this paper is to suggest that a fundamental cause of market booms and busts is that investor risk attitudes change during market booms. Specifically, the authors propose that an investor’s risk aversion falls as (s)he attempts to “keep up with the Joneses.” This paper studies changing risk attitudes induced by social interactions, and shows that risk-seeking behavior that is initially successful may induce copycat behavior and lead individuals in the same peer group to reduce their degree of risk aversion to attempt to obtain similar rewards, a phenomenon we call “Gain attraction in the presence of social interactions.”

Design/methodology/approach
The authors propose a new theoretical model that incorporates the social interaction term into the value function of prospect theory. The modified value function empowers the standard prospect theory by introducing the idea that people often compare themselves to others and then compare their gains to the gains of others. The model predicts that, if people exhibit some degree of envy, they will treat the observed utility achieved by others as destination points and will reposition themselves to the new reference points, and at that point their willingness to accept risk dramatically increases.

Findings
The theoretical model is tested empirically against experimental data and survey data. Consistent with the theoretical prediction, the experimental results suggest that, after subjects observed the behavior of the leading investor in the controlled laboratory condition, there was a significant increase in risk-taking behavior. The survey results further confirm that envy is an emotional force behind the dissatisfaction and disappointment among investors when they miss available opportunities that others were able to take advantage of.

Originality/value
This study provides evidence that investment decisions are not made in a social vacuum by isolated individuals, but rather in social settings in which individuals are influenced by the actions and outcomes of their peers. The study also opens up a new research avenue that the reduction in risk aversion induced by peer effects may be an important element explaining how greed is transmitted across the economy during times of financial boom, thus helping to fuel the flames of financial crises.
Genetic divergence between the South Korean and Mongolian populations of the dung beetle, Gymnopleurus mopsus (Coleoptera: Scarabaeidae) based on mitochondrial cytochrome c oxidase subunit I (COI) gene sequences
Authors: Yoon Tae Joong , Park Hae Chul , Kang Ji Hyoun , Bayartogtokh Badamdorj , Bae Yeon Jae 
Published: May 2017

AbstractThe locally extinct dung beetle, Gymnopleurus mopsus Pallas, 1781 (Coleoptera: Scarabaeidae), has not been found in South Korea since the 1970s. This research was conducted to understand the genetic divergence between the South Korean and Mongolian populations of G. mopsus as a part of its reintroduction program in South Korea. The genetic distance and diversity were determined using the mitochondrial cytochrome c oxidase subunit I (COI) gene sequence (658 bp) corresponding to the DNA barcode region. The mitochondrial COI gene sequences of 64 individuals of G. mopsus collected in South Korea (7 individuals) and Mongolia (57 individuals) showed a relatively high level of genetic diversity (nucleotide diversity, 0.0078 ± 0.0007; Haplotype diversity, 0.965 ± 0.017). The genetic distances between the South Korean and Mongolian populations lay within the intraspecific level and the phylogenetic reconstruction using the neighbor‐joining (NJ) method showed that all individuals belonged to a single clade. This result indicates that the current Mongolian population of G. mopsus is a good candidate source population to restore the locally extinct population of the species in South Korea.
Conflicting logics? The role ofHRMin a professional service firm
Authors: Alvehus Johan 
Published: May 2017

AbstractHRM is considered of vital strategic importance in professional service firms, but professionals generally resist these managerial initiatives. In this article, I report on an in‐depth case study of a tax consultancy department in a major accounting firm by exploring the way professionals reconcile the logics of professionalism and HRM. Results indicate that the logics are reconciled in several ways as they are simultaneouslyreplicated,revised, andrejected. Whereas current theories argue that the different logics balance each other, this study indicates that the professionals strengthen professional logic by acknowledging HRM and its procedures, simultaneously circumventing them throughinverted appropriation. Results suggest that hybridity between conflicting logics may appear on an organisational level, whereas a single logic dominates in everyday work. The study contributes to in‐depth studies of institutional logics and to a detailed understanding of the workings of HRM in professional contexts.
Hypertriglyceridemic acute pancreatitis in emergency department: Typical clinical features and genetic variants
Authors: Chen Wan Jun , Sun Xiao Fan , Zhang Rui Xue , Xu Min Jie , Dou Tong Hai , Zhang Xiao Bin , Zhong Min , Yang Wei Qiang , Liu Li , Lu Xiao Ye , Zhu Chang Qing 
Published: May 2017

OBJECTIVETo investigate the clinical characteristics of patients with hypertriglyceridemic acute pancreatitis (HTGAP), and the molecular foundation contributing to hypertriglyceridemia in such patients.METHODSClinical data from 329 patients with acute pancreatitis (AP) were analyzed. The patients were divided into the HTGAP group, with fasting serum triglyceride (TG) levels ≥500 mg/dL (5.65 mmol/L), and the non‐HTGAP (NHTGAP) group. Targeted next‐generation sequencing was applied to 11 HTGAP patients to identify the genetic mutations associated with hypertriglyceridemia, including apolipoprotein A‐V (APOA5), APOC2, APOC3 and APOE, BLK, LPL, GPIHBP1 and LMF1.RESULTSPatients in the HTGAP group, compared with those in the NHTGAP group, had a higher mortality rate (7.5% vs 0.7%, P = 0.001), more commonly seen severe AP (17.5% vs 5.2%, P = 0.004) as well as a higher recurrence rate (32.4% vs 19.9%, P = 0.070). DNA sequencing showed that two patients carried the same compound of p.G185C and p.V153M heterozygous mutations located in the APOA5 gene. Two patients carried a homozygous variation of p.C14F, in the GPIHBP1 gene. One patient had a homozygous variation of p.R176C in the APOE gene. And a rare heterozygous LMF1 gene mutation of p.P562R was detected in two patients.CONCLUSIONS
HTGAP was significantly severe than NHTGAP, with a high recurrence rate. Genetic information may be useful in the clinical setting for the investigation of the pathogenesis of HTGAP and its interventions.
Performance of Norwegian civilian EMTs and army medics in penetrating trauma: a controlled simulation‐based assessment
Authors: Blix S. W. , Melau J. , Lund‐Kordahl I. 
Published: May 2017

BackgroundPenetrating trauma kills rapidly. Thorough and efficient examination and aggressive hemorrhage control is important to save lives. The aim of this study was to assess the skills of civilian Emergency Medical Technicians (EMTs) in bleeding examination and control compared to Army Medics. Our hypothesis was that civilian pre‐hospital systems perform at a lower level compared to an expert group, and did not have sufficient focus on education and training in examination and treatment of penetrating injuries.Material and methodsWe included 60 volunteer Certified EMTs and Army Medics. First, the participants examined a wounded patient. Second, the participants were presented a patient with a penetrating injury on a pork side fixated to the thigh with an artificial arterial bleeding.ResultsThe EMTs took significantly shorter time examining, median 1 min 5 s vs. 3 min 58 s (P < 0.001). 5/30 (17%) of EMTs and 28/30 (93%) of army medics did an approved gauze wound packing of the penetrating injury (P < 0.001). EMTs took (median) 18 s and army medics 8 s to hemostasis regardless of approved packing or not (P < 0.001). Time spent on the packing was (median) 1 min 50 s vs. 5 min 47 s respectively (P < 0.001). Increasing time spent on the procedure showed significantly better chance of a successful procedure.ConclusionThe EMTs had lower accuracy in examination but used significantly shorter time than the Army Medics. The treatment part of the study showed poor EMT performance compared to the Army Medics. This study indicates that more wound packing training needs to be incorporated into initial and ongoing civilian EMT training.
Comparison of productive and reproductive performance and hair cortisol levels between Brown Swiss cross‐bred and Holstein cows housed in the same barn
Authors: Endo Natsumi , Kuroki Reimi , Tanaka Tomomi 
Published: May 2017

AbstractThe productive and reproductive characteristics of Brown Swiss (B) cross‐bred cows were investigated by comparing with those of Holstein (H) cows housed in the same barn. Additionally, their hair cortisol levels were analyzed to evaluate the extent of stress experienced during dry and lactation periods. B cross‐bred cows had lower milk yields and higher milk fat rates than H cows. Reproductive records showed that days from parturition to first artificial insemination (AI) in B cross‐bred (n = 16) and H (n = 27) cows were not significantly different, but conception rate at first AI of B cross‐bred cows tended to be higher than that of H cows. Percentage of B cross‐bred cows that resumed ovarian cyclic activity within 45 days after parturition was higher than that of H cows (6/6 (100%) and 5/11 (45.5%), P < 0.05), and B cross‐bred cows had higher body condition scores at that time. Hair cortisol level at 60 to 90 days after parturition in H cows increased significantly compared with in the dry period, and it was higher than that of B cows during the same period. These results suggest that B cross‐bred cows experience less metabolic stress during early lactation, which may result in earlier resumption of reproductive function.
Renal functional outcomes in patients undergoing percutaneous cryoablation or partial nephrectomy for a solitary renal mass
Authors: Mason Ross J. , Atwell Thomas D. , Lohse Christine , Bhindi Bimal , Weisbrod Adam , Boorjian Stephen A. , Leibovich Bradley C. , Schmit Grant D. , Thompson R. Houston 
Published: May 2017

ObjectivesTo compare renal functional changes after percutaneous cryoablation (PCA) or partial nephrectomy (PN).Patients and MethodsPatients who underwent PCA or PN for a solitary renal mass at a single institution were identified (2003–2013). Estimated glomerular filtration rates (eGFRs) were calculated at baseline, discharge, and at the 3‐month follow‐up using the Chronic Kidney Disease Epidemiology Collaboration equation. Changes in renal function were compared between groups using 1:1 propensity score (PS) matching, adjustment for PS quintile, and inverse probability weighting (IPW).ResultsThere were 2 040 procedures available for the PS analyses, including 448 PCA and 1 592 PN. After PS adjustments, there were no significant differences in baseline clinical features between PCA and PN patients. In the PS‐matched analysis, the change in eGFR from baseline to discharge for PCA and PN patients was −3.1 and −1.1 mL/min/1.73 m2, respectively (P = 0.038), with percentage changes of −4.5% and 0% respectively (P = 0.006). From baseline to the 3‐month follow‐up, the absolute change in eGFR for PCA and PN patients was −4.3 and −2.1 mL/min/1.73 m2, respectively (P = 0.008), and the percentage change was −6.1% and −2.4% respectively (P = 0.005). Similar results were obtained after adjusting for PS quintiles and in the IPW analysis. Importantly, the rate of chronic kidney disease stage progression at the 3‐month follow‐up was similar between the groups (21% vs 18%).ConclusionsOur results confirm that both PCA and PN have a minor impact on renal function. While we observed a statistically greater decline in eGFR after PCA compared with PN, both approaches result in excellent preservation of renal function.
The support needs of parents having a child with a chronic kidney disease: a focus group study
Authors: Geense W. W. , van Gaal B. G. I. , Knoll J. L. , Cornelissen E. A. M. , van Achterberg T. 
Published: May 2017

SummaryBackgroundParents of children with a chronic kidney disease (CKD) have a crucial role in the management of their child's disease. The burden on parents is high: they are often exhausted, depressed and experience high levels of stress and a low quality of life, which could have a negative impact on their child's health outcomes. Support aiming at preventing and reducing parental stress is essential. Therefore, it is necessary to have insight in the problems and support needs among these parents.ObjectiveOur aim is to describe parents' support needs regarding the problems they experience in having a child with CKD.MethodsFive focus group interviews were conducted with parents of children: (i) with hereditary kidney disease, (ii) with nephrotic syndrome, (iii) with chronic kidney failure, (iv) using dialysis and (v) after renal transplantation. The children were treated at a paediatric nephrology unit in one university hospital in the Netherlands. The data were thematically analysed.ResultsTwenty‐one parents participated in the focus groups. Parents need more information about their child's CKD and treatment options, and managing their own hobbies and work. Furthermore, parents need emotional support from their partner, family, friends, peers and healthcare professionals to help them cope with the disease of their child. Additionally, parents need practical support to hand over their care and support in transport, financial management and regarding their child at school.ConclusionNeeds regarding balancing their personal life are seldom prioritized by parents as the child's needs are considered more important. Therefore, it is important that healthcare professionals should not only attend to the abilities of parents concerning their child's disease management, but also focus on the parents' abilities in balancing their responsibilities as a caregiver with their own personal life.
Antidepressant‐like effects of tetrahydroxystilbene glucoside in mice: Involvement of BDNF signaling cascade in the hippocampus
Authors: Wang Hao , Zhao Ying , Wang Ying‐Jie , Song Lu , Wang Jin‐Liang , Huang Chao , Zhang Wei , Jiang Bo 
Published: May 2017

SummaryBackground and AimsCurrent antidepressants in clinic need weeks of administration and always have significant limitations. Tetrahydroxystilbene glucoside (TSG) is one of the major bioactive ingredients of Polygonum multiflorum with neuroprotective effects. This study aimed to evaluate the antidepressant effects of TSG in mice.MethodsThe antidepressant‐like effects of TSG in mice were examined in the forced swim test (FST), tail suspension test (TST), and chronic social defeat stress (CSDS) model of depression. The effects of CSDS and TSG on the hippocampal brain‐derived neurotrophic factor (BDNF) signaling pathway and neurogenesis were further investigated. Moreover, the pharmacological inhibitors and lentiviral‐shRNA were used to explore the antidepressant mechanisms of TSG.ResultsTSG produced antidepressant‐like effects in the FST and TST and also reversed the CSDS‐induced depressive‐like symptoms. Moreover, TSG treatment significantly restored the decreased hippocampal BDNF signaling pathway and neurogenesis in CSDS mice. Importantly, blockade of the hippocampal BDNF system fully abolished the antidepressant‐like effects of TSG in mice.ConclusionIn conclusion, TSG produces antidepressant‐like effects in mice via enhancement of the hippocampal BDNF system.
A defensive endosymbiont fails to protect aphids against the parasitoid community present in the field
Authors: LENHART PAUL A. , WHITE JENNIFER A. 
Published: May 2017

1. The value of protective mutualisms provided by some facultative endosymbionts has been well demonstrated in the laboratory, yet only recently has their effectiveness in the field been studied. ‘Candidatus Hamiltonella defensa’ is known to defend aphids from parasitoid wasps in laboratory trials. However, the efficacy of this defence varies among parasitoids, suggesting that protection will vary spatially and temporally depending on parasitoid community composition.2. This demonstrated specificity and a dearth of studies on Hamiltonella in the field prompted the authors to quantify parasitism rates of Hamiltonella‐infected and ‐uninfected Aphis craccivora Koch aphid colonies in a manipulative field study.3. It was found that A. craccivora in central Kentucky alfalfa were parasitised by Lysiphlebus testaceipes (Cresson) and Aphelinus sp. Surprisingly, Hamiltonella infection did not lower successful parasitism by the naturally occurring parasitoid wasps. Whether Hamiltonella was effective against L. testaceipes was subsequently tested in a controlled laboratory assay, and no effect on parasitism rate was found.4. This study emphasises the fact that defensive symbionts sometimes provide no tangible defensive benefits under field conditions, depending on parasitoid community composition. It is hypothesised that the protective mutualism may be beneficial in geographically localised areas. When the symbiosis is effective against a local parasitoid community, aphid clones may experience eruptive population growth and rapidly disperse across a large area, allowing spread to habitats with different parasitoid communities where the mutualism is an ineffective defence.