bluuebunny/crossref_metadata_2025_split huggingface dataset:
Intra‐Industry Reactions to Stock Split Announcements
Authors: Tawatnuntachai Oranee , D'Mello Ranjan 
Published: March 2003

AbstractWe examine whether favorable information conveyed by stock split announcements transfers to nonsplitting firms within the same industry. On average, nonsplitting firms' shareholders experience positive and significant abnormal returns at the stock split announcements of their industry counterparts. In addition, industrywide and firm‐specific characteristics are important determinants in explaining nonsplitting firms' stock returns. These firms' earnings increase significantly, and the earnings changes are positively related to the stock price reactions. Finally, we find no evidence that investors revise the value of nonsplitting firms because they anticipate a decline in earnings volatility.
Commonality in Liquidity: Evidence from an Order‐Driven Market Structure
Authors: Brockman Paul , Chung Dennis Y. 
Published: March 2003

AbstractEvents such as the 1997 East Asian financial crisis indicate that individual firm liquidity is strongly influenced by marketwide factors. Previous market microstructure research, however, focuses almost exclusively on the firm‐specific attributes of liquidity. Our study follows the recent shift in emphasis toward commonality by examining systematic liquidity in an order‐driven market structure. Using data from the Stock Exchange of Hong Kong, we show that commonality in liquidity includes both market and industry components, and is pervasive across size‐sorted portfolios. We also find a significant market and industry component in individual firms' order flow. In contrast to quote‐driven results, we do not find a positive relation between firm size and sensitivity to changes in marketwide bid‐ask spreads.
The Cost of Pension Insurance
Authors: Boyce Steven , Ippolito Richard A. 
Published: March 2003

AbstractThis article estimates the cost of the federal pension insurance program. Pension insurance claims have an important market‐risk component, which means that the cost of the exposure cannot be estimated by discounting future claims by the risk‐free rate. Moreover, owing to the complexity of the insurance contract, its price cannot be estimated with known options formulas without introducing an error of nonquantifiable magnitude. To circumvent these problems, we model the insurance program in its full complexity and use a Monte Carlo method. By hedging the exposure with a dynamic premium policy that offloads the market risk to the insureds, one can calculate the risk‐free, or actuarial, cost of that policy. One can also characterize the nature of the subsidy and its structure across insured plans. Finally, we provide an estimate of the implicit cost of the hedge function that taxpayers currently are providing for zero remuneration. The model shows that simple contingent claims models of pension insurance result in a price that is about triple the true market cost of the insurance, and that pension insurance models that ignore market risk understate the cost by half. The solution demonstrates the broad characteristics that might characterize a credible private‐sector version of pension insurance.
The Budget‐Minimizing Bureaucrat? Empirical Evidence from the Senior Executive Service
Authors: Dolan Julie 
Published: March 2003

In a representative democracy, we assume the populace exerts some control over the actions and outputs of government officials, ensuring they comport with public preferences. However, the growth of the fourth branch of government has created a paradox: Unelected bureaucrats now have the power to affect government decisions (Meier 1993; Rourke 1984; Aberbach, Putnam, and Rockman 1981).In this article, I rely on two competing theories of bureaucratic behavior‐representative‐bureaucracy theory and Niskanen's budget‐maximization theory‐to assess how well the top ranks of the federal government represent the demands of the citizenry. Focusing on federal‐spending priorities, I assess whether Senior Executive Service (SES) members mirror the attitudes of the populace or are likely to inflate budgets for their own personal gain. Contrary to the popular portrayal of the budget‐maximizing bureaucrat (Niskanen 1971), I find these federal administrators prefer less spending than the public on most broad spending categories, even on issues that fall within their own departments' jurisdictions. As such, it may be time to revise our theories about bureaucratic self‐interest and spending priorities.
Gender and the Internet*
Authors: Ono Hiroshi , Zavodny Madeline 
Published: March 2003

Objective.This article examines whether there are differences in men's and women's use of the Internet and whether any such gender gaps have changed in recent years.Methods.We use data from several surveys during the period 1997–2001 to show trends in Internet usage and to estimate regression models of Internet usage that control for individuals’ socioeconomic characteristics.Results.Women were significantly less likely than men to use the Internet at all in the mid‐1990s, but this gender gap in being online disappeared by 2000. However, once online, women remain less frequent and less intense users of the Internet.Conclusions.There is little reason for concern about sex inequalities in Internet access and usage now, but gender differences in frequency and intensity of Internet usage remain.
Are Subsidiaries More Prone to Pollute? New Evidence from the EPA's Toxics Release Inventory*
Authors: Grant Don , Jones Andrew W. 
Published: March 2003

Objective. Some scholars fear that because firms are no longer liable for the hazardous activities of their subsidiaries, the latter are under less corporate pressure to limit their pollution. However, researchers have yet to examine the environmental performance of subsidiaries. This reflects a more general failure on their part to test the effects different organizations have on pollution.Methods. To begin to remedy this situation, we use data from the EPA's Toxics Release Inventory to determine whether subsidiaries emit pollutants at a higher rate than other facilities in the chemical industry.Results. We find that subsidiaries have significantly higher emission rates than other facilities after controlling for several relevant factors.Conclusions. Results suggest how recent research on the structural determinants of environmental degradation might be advanced by focusing on the effects of specific organizational forms.
Pass‐through and Exposure
Authors: Bodnar Gordon M. , Dumas Bernard , Marston Richard C. 
Published: March 2003

ABSTRACTFirms differ in the extent to which they “pass through” changes in exchange rates into foreign currency prices and in their “exposure” to exchange rates—the responsiveness of their profits to changes in exchange rates. Because pricing affects profitability, a firm's pass‐through and exposure should be related. This paper develops models of exporting firms under imperfect competition to study these related phenomena. From these models we derive the optimal pass‐through decisions and the resulting exchange rate exposure. The models are estimated on eight Japanese export industries using both the price data pass‐through and financial data for exposure.
Government Ownership of Banks
Authors: La Porta Rafael , Lopez‐De‐Silanes Florencio , Shleifer Andrei 
Published: March 2003

ABSTRACTWe assemble data on government ownership of banks around the world. The data show that such ownership is large and pervasive, and higher in countries with low levels of per capita income, backward financial systems, interventionist and inefficient governments, and poor protection of property rights. Higher government ownership of banks in 1970 is associated with slower subsequent financial development and lower growth of per capita income and productivity. This evidence supports “political” theories of the effects of government ownership of firms.
Range‐Based Estimation of Stochastic Volatility Models
Authors: Alizadeh Sassan , Brandt Michael W. , Diebold Francis X. 
Published: March 2003

ABSTRACTWe propose using the price range in the estimation of stochastic volatility models. We show theoretically, numerically, and empirically that range‐based volatility proxies are not only highly efficient, but also approximately Gaussian and robust to microstructure noise. Hence range‐based Gaussian quasi‐maximum likelihood estimation produces highly efficient estimates of stochastic volatility models and extractions of latent volatility. We use our method to examine the dynamics of daily exchange rate volatility and find the evidence points strongly toward two‐factor models with one highly persistent factor and one quickly mean‐reverting factor.
Inoculation of Plasmids Encoding Japanese Encephalitis Virus PrM-E Proteins with Colloidal Gold Elicits a Protective Immune Response in BALB/c Mice
Authors: Zhao Zijiang , Wakita Takaji , Yasui Kotaro 
Published: March 2003

ABSTRACTWe established a simple and effective method for DNA immunization against Japanese encephalitis virus (JEV) infection with plasmids encoding the viral PrM and E proteins and colloidal gold. Inoculation of plasmids mixed with colloidal gold induced the production of specific anti-JEV antibodies and a protective response against JEV challenge in BALB/c mice. When we compared the efficacy of different inoculation routes, the intravenous and intradermal inoculation routes were found to elicit stronger and more sustained neutralizing immune responses than intramuscular or intraperitoneal injection. After being inoculated twice, mice were found to resist challenge with 100,000 times the 50% lethal dose (LD50) of JEV (Beijing-1 strain) even when immunized with a relatively small dose of 0.5 μg of plasmid DNA. Protective passive immunity was also observed in SCID mice following transfer of splenocytes or serum from plasmid DNA- and colloidal gold-immunized BALB/c mice. The SCID mice resisted challenge with 100 times the LD50of JEV. Analysis of histological sections detected expression of proteins encoded by plasmid DNA in the tissues of intravenously, intradermally, and intramuscularly inoculated mice 3 days after inoculation. DNA immunization with colloidal gold elicited encoded protein expression in splenocytes and might enhance immune responses in intravenously inoculated mice. This approach could be exploited to develop a novel DNA vaccine.
A random effects nonlinear regression model for analysis of environmental contamination data
Authors: Otani Keiko , Ohtaki Megu , Watanabe Shaw 
Published: March 2003

AbstractThe purpose of this study is to examine the relationship between dioxin concentration in humans and their living environmental factors such as diet or residential district. We develop a nonlinear random effects regression model based on a pharmacokinetic model that explains dioxin accumulation in the human body. The model takes into consideration two points: individual differences in dioxin intake and historical exposure to dioxins. We apply the model to data collected by the Japanese Ministry of Health, Labour and Welfare. Copyright © 2003 John Wiley & Sons, Ltd.
Intronic sequence motifs of HLA‐DQB1 are shared between humans, apes and old world monkeys, but a retroviral LTR element (DQLTR3) is human specific
Authors: Donner H. , Tönjes R.R. , Bontrop R.E. , Kurth R. , Usadel K.H. , Badenhoop K. 
Published: March 2003

Abstract:Long terminal repeats (LTRs) of the human endogenous retrovirus K (HERV‐K) family have been found at several sites within the human genome, of which one is located in the vicinity of HLA‐DQB1. Since this DQLTR3 is only present on some haplotypes, we performed a linkage analysis in 130 Caucasian families. In order to date the integration event we also investigated the presence of this DQLTR3 in apes and old world monkeys. Additionally, we sequenced the adjacent region of DQLTR3‐positive and ‐negative haplotypes in humans, apes and old world monkeys to elucidate their evolution. Linkage analysis revealed a differential integration of DQLTR3 on specific HLA‐DQ haploypes: there was a high frequency of this LTR on haplotypes containing HLA‐DQB1*0302 (0.96) and a moderate frequency on HLA‐DQB1*0402 (0.78), HLA‐DQB1*0303 (0.44), HLA‐DQB1*0502 (0.38) and HLA‐DQB1*0301 (0.35). HLA‐DQB1*0201 (0.18), HLA‐DQB1*0503 (0.15), HLA‐DQB1*0603 (0.15), HLA‐DQB1*0602 (0.04), HLA‐DQB1*0501 (0.03) and HLA‐DQB1*0604 were rarely positive or devoid of DQLTR3. In apes and old world primates there was no DQLTR3 rendering it a human specific insertion. Sequence analysis of the adjacent region showed two different motifs in humans corresponding to either presence or absence of DQLTR3. Two different motifs were observed within three sequences of Macaca mulatta: One motif is closely related to the sequence from Macaca nemestrina and Macaca fascicularis whereas the other sequence is more closely related with that of Papio papio and Cercopithecus aethiops. Therefore the analysis of retroviral elements as well as intronic sequences of MHC‐DQB1 could help to clarify the evolution of this gene region as well the phylogenic relationship between humans, apes and old world monkeys.
HLA‐DMA and HLA‐DMB alleles in German patients with type 1 diabetes mellitus
Authors: Siegmund T. , Donner H. , Braun J. , Usadel K.H. , Badenhoop K. 
Published: March 2003

Abstract:The HLA‐DMA and HLA‐DMB genes are located in the HLA‐D region between DQ and DP. Four variants of DMA (DMA*0101–0104) and five of the DMB (DMB*0101–0105) have so far been identified. HLA‐DM molecules are required in the process of peptide loading to HLA class II antigens, both regulating the dissociation of class II‐associated invariant chain peptides (CLIP) and the subsequent binding of exogenous peptides to HLA class II molecules. In order to investigate the immunogenetic heterogeneity within the HLA‐D susceptibility region, we analysed the distribution of DMA alleles in 125 patients with type 1 diabetes mellitus and 90 healthy controls, and of DMB alleles in 102 patients and 89 healthy controls. Patients and controls were all from central Germany. The polymerase chain reaction (PCR) amplified products were purified and separated on a 10% polyacrylamide gel electrophoresis. Among the four recognized DMA alleles, DMA*0102 was significantly less frequent (12% vs. 28.9%, P<0.01) in patients with type 1 diabetes mellitus. DMB*0101 (70.6% vs. 97.8%, P<5.5×10−3) was also reduced in frequency compared to controls. Comparing patients and controls positive for the type 1 diabetes high‐risk markers we found a significant association between DMA*0102 and DQA*0501 (9.5% vs. 39.1%, P<0.02), as well as DMB*0101 and DQA*0501 (62.5% vs. 96.2%, P<0.03). In conclusion, DMA*0102 and DMB*0101 contribute to genetic protection to type 1 diabetes mellitus in individuals with high‐risk DQA markers in the German population.
Nucleotide sequence of a new Fc gamma receptor IIIB allele that codes for a neutrophil antigen
Authors: Watanabe Y. , Shimada E. , Fujiwara K. , Niihara H. , Shimano K. , Mitsunaga S. , Tadokoro K. , Juji T. 
Published: March 2003

Abstract:A new allele of the human neutrophil antigen (HNA) system (tentatively called NA2M) was discovered and its nucleotide sequence was determined. NA2M differs in a single nucleotide (193G→A) from FCGR3B*2(NA2), resulting in an amino acid change (54Glu→Lys). The frequency of the NA2M gene in the Japanese population was estimated to be 0.008. Granulocytes of individuals possessing NA2M reacted with HNA‐1b(NA2)‐specific monoclonal antibody (TAG2) in the GIFT assay (
Note).
POST‐TRANSPLANT C‐REACTIVE PROTEIN MONITORING PREDICTS CHRONIC REJECTION AND RENAL ALLOGRAFT SURVIVAL
Authors: Sezer S , Özdemir FN , Akçay A , Külah E , Arat Z , Erdal R , Haberal M 
Published: March 2003

Chronic allograft nephropathy (CAN) is a major problem after renal transplantation, and chronic inflammation is an important element of this condition. C‐reactive protein (CRP) is an important marker of inflammation and atherosclerosis. This retrospective study analyzed the value of post‐transplantation CRP monitoring in the prediction of CAN and graft failure in kidney transplantation.The study included 125 renal transplant patients whose CRP levels were in the normal range (<10 mg/l) at the time of transplantation. Serum CRP levels before transplantation, at 1 month and at 1 year post‐transplantation, at the time of CAN diagnosis, and the mean level throughout follow up in patients without CAN were recorded. The CRP findings were compared in patients grouped according to whether or not they developed CAN. Chronic rejection was diagnosed in 40.8% of the patients, and 82.4% of this group progressed to graft failure at a mean of 45.8±30.4 months after the diagnosis of CAN. When the group CRP results were compared, the levels before transplantation were similar, but at 1 month post‐transplantation the levels in the group with CAN were significantly higher (P<0.04). The mean CRP level at 1 year was also higher in the CAN group, but this difference was not significant. The mean level at the time of the CAN diagnosis was significantly higher than the mean level during follow up in the group without CAN (P<0.01). Thus, the CRP levels were significantly higher in CAN group than in the group without CAN at two of the timepoints tested: immediately after transplantation and at the time of CAN diagnosis. Regression analysis showed that the high CRP level at 1 month post‐transplantation and at the time of the CAN diagnosis significantly influenced the allograft failure (P<0.005 and P<0.01, respectively).In conclusion, post‐transplantation CRP monitoring provides important information concerning the risks of CAN and graft failure. Testing of CRP levels should be part of the follow‐up assessment after renal transplantation.
Renal transplantation: Long‐term adaptation and the children's own reflections
Authors: Kärrfelt Helena M.E. , Lindblad Frank I.E. , Crafoord Johanna , Berg Ulla B. 
Published: March 2003

Abstract: Twenty children, 9–19 yr of age, having undergone renal transplantation, were interviewed (according to a semi‐structured inquiry manual) with the aim of investigating their emotional and psychosocial adaptation. The children reported about a rather unaffected life considering the circumstances. Few of them described a negative identity in the form of feeling sick or different, and their experienced limitations appeared to be moderate. Anxiety about the future was more salient, but nevertheless the children seemed to have found a good way of living with this anxiety. When comments were made on the relationship to the donor, they were of a positive character; the relationship had been improved by the donation. Only one child – who had received a kidney from a deceased person – described fantasies of the alien kidney of a markedly unpleasant character. The psychological adaptation of the children frequently seemed to imply the use of potentially dysfunctional defense mechanisms like denial and avoidance.
The pediatric risk of mortality score in infants and children with fulminant liver failure*
Authors: Tissières Pierre , Prontera Walter , Chevret Laurent , Devictor Denis 
Published: March 2003

Abstract: The pediatric risk of mortality (PRISM) score as a severity scoring system has never been assessed in infants and children with fulminant liver failure (FLF). A retrospective case study of 109 infants and children admitted in a 22‐bed pediatric and neonatal intensive care unit of a tertiary university hospital, National Referral Center for Pediatric Liver Transplantation, from March 1986 to August 1997 was carried out. PRISM score was not significantly different within etiologic FLF categories, or between infants and children. However, PRISM score (mean ± SD) showed significant difference (p = 0.001) between the 27 patients who spontaneously recovered with supportive care (8.8 ± 5.0) and 82 patients who underwent emergency liver transplantation (ELT) or those who died before (14.9 ± 7.7). PRISM score‐based probability of mortality was underestimated when compared with observed mortality. A death probability higher than 20% had a 24% sensitivity and 95% specificity for severe outcome. Reciever operating characteristic curve for PRISM score showed elevated discriminative power (Az = 0.91) for discerning children with severe outcome from those who spontaneously recovered with supportive care. A PRISM score more than 10 showed an odds ratio of 2.69 for predicting severe outcome (95% CI: 1.11–6.55; p = 0.038). In conclusion, the PRISM score is an accurate means of severity assessment in pediatric FLF. However, PRISM score‐based mortality was of low predictive value.
Response of antioxidant enzymes to transfer from elevated carbon dioxide to air and ozone fumigation, in the leaves and roots of wild‐type and a catalase‐deficient mutant of barley
Authors: Azevedo R. A. , Alas R. M. , Smith R. J. , Lea P. J. 
Published: March 2003

A catalase‐deficient mutant (RPr 79/4) and the wild‐type (cv. Maris Mink) barley (Hordeum vulgare L.) counterpart, were grown for 3 weeks in high CO2 (0.7%) and then transferred to air and ozone (120 nl 1−1) in the light and shade for a period of 4 days. Leaves and roots were analysed for catalase (CAT, EC 1.11.1.6), superoxide dismutase (SOD, EC 1.15.1.1) and glutathione reductase (GR, EC 1.6.4.2) activities. CAT activity in the leaves of the RPr 79/4 catalase‐deficient mutant was around 5‐10% of that determined in Maris Mink, but in the roots, both genotypes contained approximately the same levels of activity. CAT activity in Maris Mink increased in the leaves after transferring plants from 0.7% CO2 to air or ozone, reaching a maximum of 5‐fold, after 4 days in shade and ozone. For the catalase‐deficient mutant, only small increases in CAT activity were observed in light/air and light/ozone treatments. In the roots, CAT activity decreased consistently in both genotypes, after plants were transferred from 0.7% CO2. The total soluble SOD activity in the leaves and roots of both genotypes increased after plants were transferred from 0.7% CO2. The analysis of SOD isolated from leaves following non‐denaturing PAGE, revealed the presence of up to eight SOD isoenzymes classified as Mn‐SOD or Cu/Zn‐SODs; Fe‐SOD was not detected. Significant changes in Mn‐ and Cu/Zn‐SOD isoenzymes were observed; however, they could not account for the increase in total SOD activity.In leaves, GR activity also increased in Maris Mink and RPr 79/4, following transfer from 0.7% CO2; however, no constant pattern could be established, while in roots, GR activity was reduced after 4 days of the treatments.The data suggest that elevated CO2 decreases oxidative stress in barley leaves and that soluble CAT and SOD activities increased rapidly after plants were transferred from elevated CO2, irrespective of the treatment (light, shade, air or ozone).