bluuebunny/crossref_metadata_2025_split huggingface dataset:
FOREIGN DIRECT INVESTMENT, NON‐TRADED GOODS AND REAL WAGES
Authors: Oladi Reza , Gilbert John , Beladi Hamid 
Published: February 2011

AbstractUsing a three‐sector general equilibrium model with non‐traded goods, we investigate the impact of foreign direct investment on the real wages of skilled and unskilled workers. We show that foreign direct investment increases the real wages of skilled and unskilled workers alike, but widens the gap between the two under plausible conditions.
BUSINESS CYCLES IN SINGAPORE: STYLIZED FACTS FOR A SMALL OPEN ECONOMY
Authors: Choy Keen Meng 
Published: February 2011

AbstractThis paper sets out to discover the salient characteristics of economic fluctuations in the small open economy of Singapore. To this end, band‐pass filters and unobserved components models are first used to extract the cyclical components in macroeconomic variables. The extent to which domestic business cycles are influenced by foreign economic cycles with regards to their persistence, comovement and volatility properties are then assessed using time‐series statistics. The paper also documents how shocks originating from abroad are propagated to the broader economy. Although it is found that idiosyncratic features are present in Singapore's macroeconomic fluctuations, there are also stylized business cycle facts to be learnt about small open economies in general.
DEVELOPMENT OF AIR TRANSPORT INDUSTRY IN THE ASIA‐PACIFIC REGION
Authors: Cullinane Kevin , Firth Michael , Fung Michael K.Y. , Gong Stephen X.H. , Law Japhet S. , Zhang Anming 
Published: February 2011

AbstractThe volume of air passengers and cargo in the Asia‐Pacific region has grown significantly over the past decade due to the strong impetus of economic growth as well as trade and economic integration at both the regional and global levels. Although public funds have been the main source of financing for airports in most parts of the region, governments have increasingly resorted to privatization or are seriously considering it as a form of private sector participation enabling new airports to be built or existing airports to be upgraded. The present paper provides a brief survey of airport privatization in the Asia‐Pacific region, discusses the relevant issues, and introduces the following five papers published in this special section on the air transport industry in the Asia‐Pacific region.
CROSS‐BORDER INTEGRATION IN NORTHEAST ASIAN AIR TRANSPORT MARKET
Authors: Yamaguchi Katsuhiro 
Published: February 2011

AbstractThis study highlights the recent global trends of the air transport market and develops a simulation model to assess the welfare impacts of tripartite liberalization in the Northeast Asian air transport market. First, in the global air transport market, routes between 1000 and 2000 km are identified as the fastest growing segment. Gravity model analysis reveals that there is potentially significant room for further growth from cross‐border liberalization. Second, in the impact assessment of market liberalization in Northeast Asia, the effect of tripartite market liberalization of triangular routes that connect major cities in each of the three nations, Japan, South Korea and Mainland China, is analyzed. Simulation using a Cournot model with product differentiation shows that overall welfare gains would be achieved from tripartite liberalization. Air carriers' losses are overridden by an increase in consumer surplus. Such an arrangement by the three nations might eventually lead to an integrated environment in which airlines could evolve into a true multi‐hub Northeast Asian air carriers.
EVALUATION OF ASIAN AIRPORTS AS GATEWAYS: APPLICATION OF NETWORK EQUILIBRIUM MODEL
Authors: Takebayashi Mikio 
Published: February 2011

AbstractThis research applies the bi‐level market model to the Asia‐based international air transport markets. The model is a two‐stage game in which airlines act as leaders and passengers act as followers. Airlines are assumed to control flight frequencies, and passengers are assumed to choose their optimal route. At the equilibrium point, we have subgame perfect equilibrium. We apply this model to 2003 Asia‐based international air transport markets and conduct some scenario studies. We find that discounting landing charges at Narita Airport increases the passenger flow but diminishes the gateway function for trans‐Pacific transport.
EMPIRICAL ANALYSIS OF INTER‐FIRM RIVALRY BETWEEN JAPANESE FULL‐SERVICE AND LOW‐COST CARRIERS
Authors: Murakami Hideki 
Published: February 2011

AbstractThis paper empirically analyzes dynamic change in inter‐firm rivalry between Japanese low‐cost carriers (LCC) and full‐service carriers, and deduces the dynamic change in consumer surplus after an LCC enters a market. Our findings are that: (i) the conduct parameters of LCC and reacting full‐service carriers were extraordinarily low when competition started; (ii) the conduct parameters were restored to, or even exceeded, the pre‐entry level in the third year of LCC entry; and (iii) gains in total welfare were recognized for five of the nine markets, whereas in three markets only the airline industry benefited, and in one market, total welfare decreased.
Common Factors in Default Risk Across Countries and Industries
Authors: Aretz Kevin , Pope Peter F. 
Published: February 2011

AbstractGlobal economic crises appear to strongly affect corporate bankruptcy rates. However, several prior studies indicate that changes in default risk are strongly negatively related to equity returns, which in turn depend predominately on country‐specific factors. This suggests that country effects – and not global effects – should dominate changes in default risk. To analyse this issue, we decompose changes in default risk, changes in the fundamental determinants of default risk and equity returns into global, country and industry effects. We proxy for default risk through Merton (1974) default risk estimates and CDS rates. Our evidence reveals that changes in default risk always depend most strongly on global and industry effects. However, the magnitude of country effects in equity returns correlates positively with economic stability, rendering it dependent on the sample period. Our results have implications for the management of credit‐sensitive securities.
Exits, Performance, and Late Stage Private Equity: the Case of UK Management Buy‐outs
Authors: Jelic Ranko , Wright Mike 
Published: February 2011

Abstract Using a hand‐collected dataset of 1,225 buy‐outs, we examine post buy‐out and post exit long term abnormal operating performance of UK management buy‐outs, during the period 1980–2009. Our univariate and panel data analysis of post buy‐out performance conclusively show positive changes in output. We also find strong evidence for improvements in employment and output and a lack of significant changes in efficiency and profitability following initial public offerings (IPO) exits. IPOs from the main London Stock Exchange (LSE) market outperform their counterparts from the Alternative Investment Market (AIM) only in terms of changes in output. For secondary management buy outs (SMBOs), performance declines during the first buy‐out but in the second buy‐out performance stabilises until year three, after which profitability and efficiency fall while employment increases. Although private equity (PE) backed buy‐outs do not exhibit either post buy‐out or post exit underperformance, they fail to over‐perform their non‐PE backed counterparts. In the subsample of buy‐outs exiting via IPOs on the AIM, PE firms do not outperform non‐PE buy‐outs. Our findings highlight the importance of tracing the overall performance of buy‐outs over a longer period and controlling for sample selection bias related to the provision of PE backing.
The definition of social work in the United Kingdom, 2000–2010
Authors: Dickens Jonathan 
Published: February 2011

Dickens J. The definition of social work in the United Kingdom, 2000–2010.This article reviews the approaches that the four countries of the United Kingdom – England, Scotland, Wales and Northern Ireland – have taken in recent years for organising, regulating and defining social work. Social work is one of the policy areas that have been devolved to the constituent countries. This has brought extensive organisational changes, multiple policy initiatives and a proliferation of regulatory and advisory agencies. The article focuses on the attempts by these official bodies to define social work, treating the United Kingdom as a case study of the tensions of specifying what social work is and what it should be. The various attempts expose the strains and overlaps between the different agencies, and a bigger struggle to contain and control social work. The article highlights four key dimensions in the enduring debates: values–roles, social–individual, care–control and public–professional.
The Value of Financial Statement Verification in Debt Financing: Evidence from Private U.S. Firms
Authors: MINNIS MICHAEL 
Published: February 2011

ABSTRACTI examine how verification of financial statements influences debt pricing. I use a large proprietary database of privately held U.S. firms, an important business sector in which the information environment is opaque and financial statement audits are not mandated. I find that audited firms have a significantly lower cost of debt and that lenders place more weight on audited financial information in setting the interest rate. Further, I provide evidence of a mechanism for this increased financial statement usefulness: accruals from audited financial statements are better predictors of future cash flows. Collectively, I provide novel evidence that audited financial statements are more informative and that this significantly influences lenders’ decisions.
Estimating JP Morgan Chase's Profits From the Madoff Deposits
Authors: Davis Louis R. , Wilson Linus 
Published: February 2011

AbstractJP Morgan Chase had deposits from Bernard L. Madoff's investors totaling $5.5 billion at one point in 2008. The Chase account was supposedly where most of the funds in his Ponzi scheme were deposited. Any large deposit can be a considerable source of profit to a bank. Assuming that the deposits returned the bank's net interest margin and grew at a random geometric rate, this article estimates that JP Morgan Chase generated $435 million in after‐tax profits from this very large account over the course of 16 years. With JP Morgan Chase the target of pending lawsuits relating to the Madoff fraud, this article's methodology and results may be of interest to litigants, prosecutors, journalists, and academics.
Innate Immunity in the Human Female Reproductive Tract: Endocrine Regulation of Endogenous Antimicrobial Protection Against HIV and Other Sexually Transmitted Infections
Authors: Wira Charles R. , Patel Mickey V. , Ghosh Mimi , Mukura Lucy , Fahey John V. 
Published: February 2011

Citation Wira CR, Patel MV, Ghosh M, Mukura L, Fahey JV. Innate immunity in the human female reproductive tract: endocrine regulation of endogenous antimicrobial protection against HIV and other sexually transmitted infections. Am J Reprod Immunol 2011; 65: 196–211Mucosal surfaces of the female reproductive tract (FRT) contain a spectrum of antimicrobials that provide the first line of defense against viruses, bacteria, and fungi that enter the lower FRT. Once thought to be a sterile compartment, the upper FRT is periodically exposed to pathogens throughout the menstrual cycle. More recently, secretions from the upper FRT have been shown to contribute to downstream protection in the lower FRT. In this review, we examine the antimicrobials in FRT secretions made by immune cells and epithelial cells in the upper and lower FRT that contribute to innate protection. Because each site is hormonally regulated to maintain fertility, this review focuses on the contributions of hormone balance during the menstrual cycle to innate immune protection. As presented in this review, studies from our laboratory and others demonstrate that sex hormones regulate antimicrobials produced by innate immune cells throughout the FRT. The goal of this review is to examine the spectrum of antimicrobials in the FRT and the ways in which they are regulated to provide protection against pathogens that compromise reproductive health and threaten the lives of women.
Immunodeficiency in a child with partial trisomy 6p
Authors: Bart Ingeborg Y , Weemaes Corry MR , Schuitema‐Dijkstra Anke R , Smeets Dominique , de Vries Esther 
Published: February 2011

AbstractAim:  We present a mentally retarded boy with partial trisomy of the short arm of chromosome 6 as a result of an interstitial tandem duplication of 6p12.2–p21.31 and immunodeficiency. Patients with mental retardation because of a chromosomal disorder or eponymous syndrome often experience recurrent respiratory tract infections as a result of their associated anatomical or neurological abnormalities. However, associated immune defects may also significantly contribute to their susceptibility to infections. Timely recognition and appropriate treatment of their immunodeficiency will greatly improve quality of life in these patients.Conclusion:  Immunodeficiency may be the direct cause of recurrent respiratory tract infections in patients with mental retardation because of a chromosomal disorder or eponymous syndrome, even in the face of feeding difficulties and multiple episodes of aspiration, as is illustrated in this boy with partial trisomy 6p.
Cooling neutron star in the Cassiopeia A supernova remnant: evidence for superfluidity in the core
Authors: Shternin Peter S. , Yakovlev Dmitry G. , Heinke Craig O. , Ho Wynn C. G. , Patnaude Daniel J. 
Published: February 2011

Abstract
According to recent results of Ho & Heinke, the Cassiopeia A supernova remnant contains a young (≈330-yr-old) neutron star (NS) which has carbon atmosphere and shows notable decline of the effective surface temperature. We report a new (2010 November) Chandra observation which confirms the previously reported decline rate. The decline is naturally explained if neutrons have recently become superfluid (in triplet state) in the NS core, producing a splash of neutrino emission due to Cooper pair formation (CPF) process that currently accelerates the cooling. This scenario puts stringent constraints on poorly known properties of NS cores: on density dependence of the temperature Tcn(ρ) for the onset of neutron superfluidity [Tcn(ρ) should have a wide peak with maximum ≈ (7–9) × 108 K]; on the reduction factor q of CPF process by collective effects in superfluid matter (q &gt; 0.4) and on the intensity of neutrino emission before the onset of neutron superfluidity (30–100 times weaker than the standard modified Urca process). This is serious evidence for nucleon superfluidity in NS cores that comes from observations of cooling NSs.
Full Disclosure of the ‘Raw Data’ of Research on Humans: Citizens’ Rights, Product Manufacturers’ Obligations and the Quality of the Scientific Database
Authors: Mazur Dennis J. 
Published: February 2011

AbstractAs advances in medicine continue to develop, questions of how medical research impacts human rights continue to be raised. Research on medical products depends on study participants’ who are willing to donate their time, effort, and willingly take on the inherent risk of trial research. Testing of new products (prescription medicine and medical devices) is always unpredictable. Even higher degrees of unpredictability are always associated with those products having new mechanisms of action. ‘Unpredictability’ refers to:The inability to estimate four aspects of risk related to a newly designed product with a new mechanism of action:More work needs to be done across academic boundaries concerning citizens’ rights to receive full information about new medical products. The important tasks of clarifying and communicating the levels of unpredictability of a medical product lie in three areas: (i) consent and informed consent in patient care; (ii) consent and informed consent in research on humans; and (iii) information provided to consumers, physicians, and researchers by product manufacturers. The right to full and open disclosure of risk information regarding medical products affects citizens in three different positions: (i) as study participants bearing the risks of new medical products; (ii) as patients who are asked to consider these products as treatment in their medical care; and (iii) as consumers who may receive less than full disclosures about medical products from product manufacturers. To achieve this goal of full and open disclosure of product risks, society must focus on the obligations of product manufacturers to provide this type of disclosure about their medical products. I will argue that citizens are owed these rights because citizens are the study participants who bear the risks related to medical product testing.
Hegel’s Idealist Reading of Spinoza
Authors: Newlands Samuel 
Published: February 2011

AbstractIn this paper, I discuss Hegel’s influential reading of Spinoza as a kind of idealist. I begin with a brief overview of Spinoza’s doctrines of substance, mode, and attributes. I then turn to Hegel’s arguments that Spinoza is an acosmicist (someone who denies the existence of finite individuals) and that Spinoza’s attribute of thought becomes the sole fundamental attribute. Underlying both criticisms is Hegel’s charge that Spinoza cannot consistently affirm his doctrine of substance and his doctrines of attribute and mode pluralism. In conclusion, I discuss the legacy of Hegel’s idealist reading.
Export Dependence and Sustainability of Growth in China
Authors: Akyüz Yilmaz 
Published: February 2011

AbstractThis paper examines the contribution of exports to growth in China since the early years of the decade. It is estimated that, despite a high import content ranging between 40 and 50 percent, approximately one‐third of Chinese growth before the global crisis was a result of exports, due to their phenomenal growth of some 25 percent per annum. This figure increases to 50 percent if spillovers to consumption and investment are allowed for. The main reason for excessive dependence on foreign markets is underconsumption. This is due not so much to a high share of household savings in GDP as to a low share of household income and a high share of profits. It is argued that China can no longer maintain such high growth rates for its exports, and, therefore, needs to turn to consumption‐led growth by expanding the share of wages and household income in GDP and accelerating public spending in social infrastructure.
Growth Enterprise Board Initial Public Offerings: Characteristics, Volatility and the Initial‐day Performance
Authors: Guo Haifeng , Fung Hung‐Gay 
Published: February 2011

AbstractWe use the Chinese initial public offering data from October 2009 to August 2010 to examine the newly‐established growth enterprise board (GEB). The results indicate that the GEB has been successful and is providing a viable channel for new small and medium‐sized firms to raise external capital. Four variables, the volatility variable, the turnover ratio, the winning lottery ratio and the price–earnings ratio, are important factors driving the initial‐day returns in the regression analysis. The implementation of the new trading‐halts policy on the GEB is found to be effective in mitigating excessive speculation. Our analysis results could be used by policy‐makers to gauge the effects of policy changes on the underpricing of the initial public offerings of the GEB.
Evaluation of candidate DNA barcoding loci for economically important timber species of the mahogany family (Meliaceae)
Authors: MUELLNER A.N. , SCHAEFER H. , LAHAYE R. 
Published: February 2011

AbstractThere has been considerable debate regarding locus choice for DNA barcoding land plants. This is partly attributable to a shortage of comparable data from proposed candidate loci on a common set of samples. In this study, we evaluated main candidate plastid regions (rpoC1, rpoB, accD) and additional plastid markers (psbB, psbN, psbT exons and the trnS‐trnG spacer) as well as the nuclear ribosomal spacer region (ITS1‐5.8S‐ITS2) in a group of land plants belonging to the mahogany family, Meliaceae. Across these samples, only ITS showed high levels of resolvability. Interspecific sharing of sequences from individual plastid loci was common. The combination of multiple loci did not improve performance. DNA barcoding with ITS alone revealed cryptic species and proved useful in identifying species listed in Convention on International Trade of Endangered Species appendixes.
Comparison of FST outlier tests for SNP loci under selection
Authors: NARUM SHAWN R. , HESS JON E. 
Published: February 2011

AbstractGenome scans with many genetic markers provide the opportunity to investigate local adaptation in natural populations and identify candidate genes under selection. In particular, SNPs are dense throughout the genome of most organisms and are commonly observed in functional genes making them ideal markers to study adaptive molecular variation. This approach has become commonly employed in ecological and population genetics studies to detect outlier loci that are putatively under selection. However, there are several challenges to address with outlier approaches including genotyping errors, underlying population structure and false positives, variation in mutation rate and limited sensitivity (false negatives). In this study, we evaluated multiple outlier tests and their type I (false positive) and type II (false negative) error rates in a series of simulated data sets. Comparisons included simulation procedures (FDIST2, arlequin v.3.5 and BAYESCAN) as well as more conventional tools such as global FST histograms. Of the three simulation methods, FDIST2 and BAYESCAN typically had the lowest type II error, BAYESCAN had the least type I error and Arlequin had highest type I and II error. High error rates in Arlequin with a hierarchical approach were partially because of confounding scenarios where patterns of adaptive variation were contrary to neutral structure; however, Arlequin consistently had highest type I and type II error in all four simulation scenarios tested in this study. Given the results provided here, it is important that outlier loci are interpreted cautiously and error rates of various methods are taken into consideration in studies of adaptive molecular variation, especially when hierarchical structure is included.