bluuebunny/crossref_metadata_2025_split huggingface dataset:
Growth Opportunities and the Choice of Leverage, Debt Maturity, and Covenants
Authors: BILLETT MATTHEW T. , KING TAO‐HSIEN DOLLY , MAUER DAVID C. 
Published: March 2007

ABSTRACTWe investigate the effect of growth opportunities in a firm's investment opportunity set on its joint choice of leverage, debt maturity, and covenants. Using a database that contains detailed debt covenant information, we provide large‐sample evidence of the incidence of covenants in public debt and construct firm‐level indices of bondholder covenant protection. We find that covenant protection is increasing in growth opportunities, debt maturity, and leverage. We also document that the negative relation between leverage and growth opportunities is significantly attenuated by covenant protection, suggesting that covenants can mitigate the agency costs of debt for high growth firms.
Smart Institutions, Foolish Choices: The Limited Partner Performance Puzzle
Authors: LERNER JOSH , SCHOAR ANTOINETTE , WONGSUNWAI WAN 
Published: March 2007

ABSTRACTThe returns that institutional investors realize from private equity differ dramatically across institutions. Using detailed, hitherto unexplored records, we document large heterogeneity in the performance of investor classes: endowments' annual returns are nearly 21% greater than average. Analysis of reinvestment decisions suggests that endowments (and to a lesser extent, public pensions) are better than other investors at predicting whether follow‐on funds will have high returns. The results are not primarily due to endowments' greater access to established funds, since they also hold for young or undersubscribed funds. Our results suggest that investors vary in their sophistication and potentially their investment objectives.
Financial Synergies and the Optimal Scope of the Firm: Implications for Mergers, Spinoffs, and Structured Finance
Authors: LELAND HAYNE E. 
Published: March 2007

ABSTRACTMultiple activities may be separated financially, allowing each to optimize its financial structure, or combined in a firm with a single optimal financial structure. We consider activities with nonsynergistic operational cash flows, and examine the purely financial benefits of separation versus merger. The magnitude of financial synergies depends upon tax rates, default costs, relative size, and the riskiness and correlation of cash flows. Contrary to accepted wisdom, financial synergies from mergers can be negative if firms have quite different risks or default costs. The results provide a rationale for structured finance techniques such as asset securitization and project finance.
How Are Firms Sold?
Authors: BOONE AUDRA L. , MULHERIN J. HAROLD 
Published: March 2007

ABSTRACTAs measured by the number of bidders that publicly attempt to acquire a target, the takeover arena in the 1990s appears noncompetitive. However, we provide novel data on the pre‐public, private takeover process that indicates that public takeover activity is only the tip of the iceberg of actual takeover competition during the 1990s. We show a highly competitive market where half of the targets are auctioned among multiple bidders, while the remainder negotiate with a single bidder. In event study analysis, we find that the wealth effects for target shareholders are comparable in auctions and negotiations.
On the Importance of Measuring Payout Yield: Implications for Empirical Asset Pricing
Authors: BOUDOUKH JACOB , MICHAELY RONI , RICHARDSON MATTHEW , ROBERTS MICHAEL R. 
Published: March 2007

ABSTRACTWe investigate the empirical implications of using various measures of payout yield rather than dividend yield for asset pricing models. We find statistically and economically significant predictability in the time series when payout (dividends plus repurchases) and net payout (dividends plus repurchases minus issuances) yields are used instead of the dividend yield. Similarly, we find that payout (net payout) yields contains information about the cross section of expected stock returns exceeding that of dividend yields, and that the high minus low payout yield portfolio is a priced factor.
Decoupling CEO Wealth and Firm Performance: The Case of Acquiring CEOs
Authors: HARFORD JARRAD , LI KAI 
Published: March 2007

ABSTRACTWe explore how compensation policies following mergers affect a CEO's incentives to pursue a merger. We find that even in mergers where bidding shareholders are worse off, bidding CEOs are better off three quarters of the time. Following a merger, a CEO's pay and overall wealth become insensitive to negative stock performance, but a CEO's wealth rises in step with positive stock performance. Corporate governance matters; bidding firms with stronger boards retain the sensitivity of their CEOs' compensation to poor performance following the merger. In comparison, we find that CEOs are not rewarded for undertaking major capital expenditures.
Corporate Governance, Idiosyncratic Risk, and Information Flow
Authors: FERREIRA MIGUEL A. , LAUX PAUL A. 
Published: March 2007

ABSTRACTWe study the relationship of corporate governance policy and idiosyncratic risk. Firms with fewer antitakeover provisions display higher levels of idiosyncratic risk, trading activity, private information flow, and information about future earnings in stock prices. Trading interest by institutions, especially those active in merger arbitrage, strengthens the relationship of governance to idiosyncratic risk. Our results indicate that openness to the market for corporate control leads to more informative stock prices by encouraging collection of and trading on private information. Consistent with an information‐flow interpretation, the component of volatility unrelated to governance is associated with the efficiency of corporate investment.
A Complex Pattern of Melanonychia and Onycholysis After Treatment With Pemetrexed for Lung Cancer
Authors: Dasanu Constantin A , Wiernik Peter H , Vaillant Juan , Alexandrescu Doru T 
Published: March 2007

A 53‐year‐old black man was diagnosed with poorly differentiated adenocarcinoma of the lung and treated initially with 4 cycles of paclitaxel in combination with carboplatin and external‐beam radiation therapy with a good clinicoradiologic response. The patient tolerated the chemotherapy well and did not develop any skin or nail changes during that period of time. His lung cancer recurred 10 months later, when he was found to have bone metastases. Second‐line chemotherapy with pemetrexed 500 mg/m2 intravenously every 3 weeks was commenced. A week prior, the patient was started on folic acid 1 mg orally daily and given an injection of vitamin B12 1000 μg intramuscularly that was continued every 3 cycles thereafter. Dexamethasone 4 mg orally twice daily was given around the time of chemotherapy administration to prevent the dermatitis associated with the drug. The patient denied taking other drugs. Two months into his second‐line chemotherapy, he developed multiple, concomitant, transverse and longitudinal black lines in all of his fingernails and toenails. After an interval of 3 months, he presented a complex pattern of nail hyperpigmentation, from combined dense horizontal and longitudinal streaks in some nails to diffuse black discoloration in others (Figure). Other associated changes included koilonychia, dystrophy, and friability of nail plates. Along with normal results of a hepatorenal panel and normal serum vitamin B12 and folate levels, no metabolic or endocrinologic alterations were present to explain the nail pigmentation and dystrophic changes. Results of his mycologic examination and cultures came back negative. When questioned, he denied taking any other drugs including other alternative medicine approaches or vitamin supplements, particularly retinoids, well known for causing severe nail dystrophy. Most fingernails show a complex pattern of nail hyperpigmentation, comprising dense horizontal and longitudinal streaks, with some nails presenting a diffuse black discoloration. Associated koilonychia, dystrophy, and nail friability were present. (Inset) Nail enlargement detailing the pattern of discoloration and dystrophic changes. image
Occlusive Irritant Dermatitis: When Is “Allergic” Contact Dermatitis Not Allergic?
Authors: Miller Sara , ENS Helms Amy , Brodell Robert T. 
Published: March 2007

Case 1: A 38‐year‐old teacher presented with a 3‐ to 4‐week history of a linear, erythematous, vesicular, and pruritic eruption of her left wrist (Figure 1). She had been wearing a new elastic bracelet for 4 weeks before the onset of her eruption. Although there was no history of allergy to rubber products or jewelry, an allergic contact dermatitis to rubber was suspected. Patch testing to rubber chemicals and the elastic bracelet revealed no reactions at 48, 72, and 96 hours. She stopped wearing the bracelet and used a corticosteroid cream with rapid resolution of the problem. The patient resumed wearing the bracelet, and there has been no recurrence in the past 2 months. Case 2: A 12‐year‐old boy presented with a 1‐month history of an itchy, scaly, erythematous 1‐cm patch over the midline of his lower lip. The patient complained of tiny blisters initially with persistent erythema, mild scaling, and associated pruritus (Figure 2). The patient plays the saxophone and he had been practicing more intensely (3 to 4 h/d) for a musical competition. Allergic reaction to his wood reed was suspected, but patch testing with a moistened portion of his reed and reed shavings in a drop of water revealed no reaction at 48 and 72 hours. Treatment with hydrocortisone 1% cream bid for 3 days led to complete resolution of the dermitis and pruritus. Playing the saxophone 1 h/d has not led to any recurrence. Case 3: A 33‐year‐old woman presented with erythema, scaling, and pruritus of 1 months' duration beneath her engagement and wedding rings, which were worn together on her left fourth finger (Figure 3). Although she had no history of previous sensitivity to earrings, watch clasp, blue jean rivets, or other jewelry, allergic contact dermatitis to nickel was suspected. Patch testing was performed to the common metal allergens nickel, cobalt, chromium, and gold. Readings at 48 hours and 1 week revealed no positive reactions. The patient wore her rings on the right hand for 1 week and used fluocinonide 0.5% cream twice daily for 1 week with resolution of the dermatitis. She has subsequently begun wearing the rings again on her left hand with care to dry her hands and rings after washing, and there has been no recurrence of her dermatitis. An erythematous, papulovesicular, linear patch is present on the wrist where an elastic bracelet rested on the skin. image Erythema and slight scale are noted on the midportion of the lip where the reed contacts the skin when the saxophone is played. image Erythema, scaling, and papulovesiculation are noted on the left fourth finger beneath the site where the patient's engagement and wedding ring set rested. The dermatitis is also present on the adjacent webspace between the 3rd and 4th fingers. image
Denture Stomatitis
Authors: Amy Chen Yuntzu‐Yen , Zirwas Matthew J. 
Published: March 2007

A 70‐year‐old woman presented for evaluation of an eruption localized to the area covered by her partial upper denture. Her medical history and physical examination were otherwise unremarkable. She originally had a metal upper partial denture, which she used for many years without difficulty. Four years before presentation, she developed a painful eruption affecting only the tissue covered by the upper partial denture. Contact dermatitis to metal was suspected, and a new upper partial denture constructed primarily of acrylates was fashioned. When she transitioned to the new denture, the inflammation in her oral mucosa persisted and perhaps worsened, despite an excellent fit. Examination revealed striking erythema and mild edema sharply localized to the areas where the partial upper denture contacted the gum ridge (Figure 1). Patch testing was performed and revealed allergies to multiple acrylates, including methyl methacrylate. A swab from the gums was sent for yeast culture. No Candida was detected. Based on suspected candidal overgrowth on the denture, the patient was advised to begin applying nystatin ointment between the gums and the denture, and to start soaking the dentures nightly in chlorhexidine 0.12% solution. In addition, because the relevance of the acrylate allergy was unclear, her dentist was contacted and it was recommended that the dentures be boiled to induce polymerization of any residual un‐reacted methacrylate monomers. The patient had a 90% improvement in the clinical appearance and in symptoms at an 8‐week follow‐up appointment (Figure 2). Due to logistic issues, the dentures had not yet been boiled. The improvement, despite the dentures not having been boiled, was felt to demonstrate that the acrylate allergy was not relevant. The patient has continued to slowly show further improvement over 6 months of follow‐up.Striking erythema and mild edema affecting strictly the areas in contact with the dentures.imageDramatic decrease in erythema and resolution of edema after 8 weeks of therapy with nystatin ointment and chlorhexidine soaks.image
Comparison of Hydroxyzine and Doxepin in Treatment of Pruritus Due to Sulfur Mustard
Authors: Shohrati Majid , Tajik Ali , Harandi Ali Amini , Davoodi Seyed Masoud , Almasi Mahmood 
Published: March 2007

Objective. To compare the safety and efficacy of doxepin and hydroxyzine in the treatment of chronic pruritus due to exposure to sulfur mustard.
Methods. In a randomized, double‐blind safety and efficacy study, 50 patients with chronic pruritus were given either doxepin 10 mg/d or hydroxyzine 25 mg/d for 4 weeks. Pruritic score was calculated for each patient before treatment and 1 month after.
Results. After treatment, the mean pruritic scores ± SD of the hydroxyzine and doxepin groups were 16.7±2.3 and 17.8±2.5, respectively. The severity of pruritus was decreased in 80% of patients in the hydroxyzine group and 75% in the doxepin group (P=.786). Eighteen patients in the hydroxyzine group and 14 patients in the doxepin group reported sedation.
Conclusions.Both hydroxyzine and doxepin are effective and have equivalent results in controlling the symptoms of patients with chronic pruritus due to exposure to sulfur mustard.
Impact of mating status on egg‐laying and superparasitism behaviour in a parasitoid wasp
Authors: Darrouzet Eric , Bignon Laure , Chevrier Claude 
Published: March 2007

AbstractMost parasitoid female wasps can distinguish between unparasitized and parasitized hosts and use this information to optimize their progeny and sex allocation. In this study, we explored the impact of mating on oviposition behaviour (parasitism and self‐ and conspecific superparasitism) on both unparasitized and already parasitized hosts in the solitary parasitoid wasp Eupelmus vuilleti (Crw.) (Hymenoptera: Eupelmidae). Virgin and mated females had the same oviposition behaviour and laid eggs preferentially on unparasitized hosts. The sex ratio (as the proportion of females) of eggs laid by mated females in parasitism and conspecific superparasitism was 0.67 ± 0.04 and 0.57 ± 0.09, respectively. Likewise, females laid more eggs in conspecific superparasitism than self‐superparasitism under our experimental conditions. These experiments demonstrate that E. vuilleti females can (i) discriminate between unparasitized and parasitized hosts and adapt the number of eggs they lay accordingly, and (ii) probably discriminate self from conspecific superparasitized hosts. Finally, mating does not appear to influence the host discrimination capacity, the ovarian function, or the oviposition behaviour.
Latin Hypercube Approach to Estimate Uncertainty in Ground Water Vulnerability
Authors: Gurdak Jason J. , McCray John E. , Thyne Geoffrey , Qi Sharon L. 
Published: March 2007

AbstractA methodology is proposed to quantify prediction uncertainty associated with ground water vulnerability models that were developed through an approach that coupled multivariate logistic regression with a geographic information system (GIS). This method uses Latin hypercube sampling (LHS) to illustrate the propagation of input error and estimate uncertainty associated with the logistic regression predictions of ground water vulnerability. Central to the proposed method is the assumption that prediction uncertainty in ground water vulnerability models is a function of input error propagation from uncertainty in the estimated logistic regression model coefficients (model error) and the values of explanatory variables represented in the GIS (data error). Input probability distributions that represent both model and data error sources of uncertainty were simultaneously sampled using a Latin hypercube approach with logistic regression calculations of probability of elevated nonpoint source contaminants in ground water. The resulting probability distribution represents the prediction intervals and associated uncertainty of the ground water vulnerability predictions. The method is illustrated through a ground water vulnerability assessment of the High Plains regional aquifer. Results of the LHS simulations reveal significant prediction uncertainties that vary spatially across the regional aquifer. Additionally, the proposed method enables a spatial deconstruction of the prediction uncertainty that can lead to improved prediction of ground water vulnerability.
Nonconceptual Content
Authors: Toribio Josefa 
Published: March 2007

AbstractNonconceptualists maintain that there are ways of representing the world that do not reflect the concepts a creature possesses. They claim that the content of these representational states is genuine content because it is subject to correctness conditions, but it is nonconceptual because the creature to which we attribute it need not possess any of the concepts involved in the specification of that content. Appeals to nonconceptual content have seemed especially useful in attempts to capture the representational properties of perceptual experiences, the representational states of pre‐linguistic children and non‐human animals, the states of subpersonal visual information‐processing systems, and the subdoxastic states involved in tacit knowledge of the grammar of a language. Nonconceptual content is also invoked in the explanation of concept possession, concept acquisition, sensorimotor behaviour, and in the analysis of the notion of self‐consciousness. The notion of nonconceptual content plays an important role in many discussions about the relationships between perception and thought.
Functional Neuroimaging Studies of Syntactic Processing in Sentence Comprehension: A Critical Selective Review
Authors: Caplan David 
Published: March 2007

AbstractThis article critically reviews recent papers that use functional neuroimaging to localize syntactic representations, Universal Grammar, parsing operations, and the working memory system that supports parsing. It is concluded that greater control over experimental conditions is needed for studies to provide convincing evidence about the neural basis for these cognitive functions.
Three Conundrums of Language Lateralization
Authors: Baynes Kathleen , Long Debra L. 
Published: March 2007

AbstractThe lateralization of language to the left hemisphere of the brain in most right‐handed individuals is well established; however, this arrangement has no widely accepted theoretical explanation. The distribution of language across the cerebral hemispheres raises issues and contradictions that are difficult for any theory to accommodate. In this article, we review three puzzles about the lateralization of language: (1) the clinical literature reveals profound deficits in language only after left‐hemisphere damage, but the brain imaging literature shows bilateral activation in most language tasks; (2) language is left‐hemisphere dominant in most individuals yet deviation from this pattern does not result in language dysfunction; and (3) lateralization and handedness are related, but the factors that underlie this relation are unknown. We also briefly discuss evolutionary and genetic theories that have been advanced to explain lateralization.
The Form of Referential Expressions in Discourse
Authors: Almor Amit , Nair Veena A. 
Published: March 2007

AbstractMost instances of real‐life language use involve discourses in which several sentences or utterances are coherently linked through the use of repeated references. Repeated reference can take many forms, and the choice of referential form has been the focus of much research in several related fields. In this article we distinguish between three main approaches: one that addresses the ‘why’ question – why are certain forms used in certain contexts; one that addresses the ‘how’ question – how are different forms processed; and one that aims to answer both questions by seriously considering both the discourse function of referential expressions, and the cognitive mechanisms that underlie their processing cost. We argue that only the latter approach is capable of providing a complete view of referential processing, and that in so doing it may also answer a more profound ‘why’ question – why does language offer multiple referential forms.
Beyond the Dichotomies in Technology for Development
Authors: Wilson Gordon 
Published: March 2007

AbstractThat technology is essential for development has been written many times. However, a few years ago, technology was increasingly seen as part of a problem that contributed to the depoliticisation of development and reinforced existing societal structures. In response, this century has seen a reconceptualisation of technology's role, alongside that of science. Thus, it is now seen as part of a system of plural knowledges in contrast to its previous role as major player. The challenges of this reconceptualised role are (1) to promote synergies between different knowledges through dialogue and respect for difference, (2) to generate new knowledge through ‘learning with’, in addition to recycling existing knowledge through ‘learning from’, each other, and (3) to manage power relations so that no knowledge is intrinsically favoured (or put last). These challenges represent a call to lay to rest old dichotomies and antagonisms between different kinds of knowledge and to avoid inventing new ones.
Geographies of Voluntarism: Mapping the Terrain
Authors: Milligan Christine 
Published: March 2007

AbstractIn the last decade or so a body of geographical work has begun to emerge that examines, in various ways, the interrelationship between people, place, volunteering and the voluntary sector. Work in this field is spread across a number of geographical subdisciplines, from social, health and development to political geography. As a body of work it is increasingly being referred to as ‘geographies of voluntarism’. Focusing specifically on voluntary activity around health and welfare, this article reviews how geographers have begun to critically engage with issues of voluntary activity and space. It draws out how geographical perspectives on voluntarism are contributing to a wider understanding of how and why disparities in voluntary activity occur and the implications for people and places at a range of spatial scales from the global to the local.