scholarly journals Information asymmetries and conflict of interest during the Baring crisis, 1880–1890

2011 ◽  
Vol 18 (2) ◽  
pp. 191-215 ◽  
Author(s):  
Juan H. Flores
Keyword(s):  
Empirical Evidence ◽  
Conflict Of Interest ◽  
Sovereign Debt ◽  
Buenos Aires ◽  
Sources Of Information ◽  
Historical Evidence ◽  
Potential Conflict ◽  
Debt Default ◽  
Underwriting Fees ◽  
Using Data

This article examines the potential conflict of interest of underwriters in London's foreign sovereign debt markets prior to the Baring crisis of 1890. We describe the main sources of information for investors concerning Argentina, whose government debt default contributed to Baring's collapse, and compare them with those of the underwriters, particularly Baring's. We then present some empirical evidence using data on bond prices and underwriting fees that demonstrate that Baring did not exploit its information lead to the detriment of investors. Finally, we present historical evidence that shows that Baring foresaw default before markets did and consequently planned a bailout loan that could not be issued due to political instability in Buenos Aires.

Effect of networks on product innovation: empirical evidence from Indonesian SMEs

2013 ◽  
Vol 1 (2) ◽  
pp. 140-158 ◽  
Author(s):  
Nurul Indarti ◽  
Theo Postma
Keyword(s):  
Empirical Evidence ◽  
Product Innovation ◽  
Dynamic Effects ◽  
Depth Of Knowledge ◽  
External Knowledge ◽  
Software Firms ◽  
Using Data

Innovative companies generally establish linkages with other actors and access external knowledge in order to benefit from the dynamic effects of interactive processes. Using data from 198 furniture and software firms in Indonesia, this study shows that the quality of interaction (i.e. multiplexity) as indicated by the depth of knowledge absorbed from various external parties and intensity of interaction (i.e., tie intensity) are better predictors of product innovation than the diversity of interaction.

Momentum Effect in Stock Market: Empirical Evidence from Pakistan Stock Exchange

2019 ◽  
Vol 12 (1) ◽  
Author(s):  
Shahid Rasheed ◽  
Umar Saood ◽  
Waqar Alam
Keyword(s):  
Stock Market ◽  
Empirical Evidence ◽  
Stock Markets ◽  
Stock Exchange ◽  
Momentum Effect ◽  
Using Data

This study aims to examine the momentum effect presence in selected stocks of Pakistan stock market using data from Jan 2007 to Dec 2016. This study constructed the strategies includes docile, equal weighted and full rebalancing techniques. Data was extracted from the PSX – 100 index ranging from 2007 to 2016. STATA coding ASM software was used for calculating momentum portfolios, finally top 25 stocks were considered as a winner stocks and bottom 25 stocks were taken as a loser stocks. In conclusion, the results of the study found a strong momentum effect in Pakistan stock exchange PSX 100- index. As by results it has been observed that a substantial profit can earn by the investors or brokers in constructing a portfolio with a short formation period of three months and hold for 3, 6 and 12 months. There is hardly a study is present on the same topic on Pakistan Stock Exchange as preceding studies were only conducted on individual stock markets before merger of stock markets in Pakistan while this study leads the explanation of momentum phenomenon in new dimension i.e. Pakistan Stock Exchange. Keywords: Momentum, Portfolio, Winner Stocks, Loser Stocks

scholarly journals ‘Causing misery and suffering miserably’: Representations of the Thirty Years’ War in Literature and History

2021 ◽  
Vol 30 (1) ◽  
pp. 3-25
Author(s):  
Siobhan Talbott
Keyword(s):  
Empirical Evidence ◽  
Historical Evidence ◽  
Literary Works ◽  
War In Literature ◽  
Historical Fictions

This article examines a range of fictional literature – poetry, prose, play and song produced between the seventeenth and twenty-first centuries – that represents aspects of the Thirty Years’ War, a conflict fought in Europe from 1618 to 1648. Depiction of the Thirty Years’ War in literary works is compared to that found in empirical historical evidence and historians’ analyses. It is concluded that historical fictions offer a different, but equally valid, account of the conflict to academic histories, and that by using historical fictions and empirical evidence together, a more holistic picture of events is offered than academic histories alone provide.

scholarly journals Pyramid groups and firm performance: empirical evidence from Canadian corporations

2010 ◽  
Vol 7 (3) ◽  
pp. 105-123 ◽  
Author(s):  
Gloria Y. Tian
Keyword(s):  
Firm Performance ◽  
Empirical Evidence ◽  
Negative Impact ◽  
Ownership Concentration ◽  
Legal Environment ◽  
Controlling Shareholders ◽  
Value Maximization ◽  
Using Data ◽  
Control Enhancing Mechanisms ◽  
And Control

Using data of Canadian corporations in 1994 and 2003, this study analyzes whether controlling shareholders of corporate pyramid groups, with substantial divergences in ownership and control, negatively or positively impact firm performance. We find some evidence that the combination of ownership concentration and pyramidal structure would lead to inferior firm performance and valuation, but little evidence concerning tunneling within groups. We argue the robust legal environment in Canada that encourages shareholder value maximization could mitigate the negative impact of control enhancing mechanisms on minority public investors.

scholarly journals Emotion Modulation of the Body-Selective Areas in the Developing Brain

2019 ◽  
Author(s):  
Paddy Ross ◽  
Beatrice de Gelder ◽  
Frances Crabbe ◽  
Marie-Hélène Grosbras
Keyword(s):  
Conflict Of Interest ◽  
Right Hemisphere ◽  
Brain Activity ◽  
The Body ◽  
Childhood And Adolescence ◽  
Body Perception ◽  
Body Area ◽  
Potential Conflict ◽  
First Time ◽  
Posterior Superior Temporal Sulcus

AbstractEmotions are strongly conveyed by the human body and the ability to recognize emotions from body posture or movement is still developing through childhood and adolescence. To date, there are very few studies exploring how these behavioural observations are paralleled by functional brain development. Furthermore, there are currently no studies exploring the development of emotion modulation in these areas. In the current study, we used functional magnetic resonance imaging (fMRI) to compare the brain activity of 25 children (age 6-11), 18 adolescents (age 12-17) and 26 adults while they passively viewed short videos of angry, happy or neutral body movements. We observed that when viewing bodies generally, adults showed higher activity than children bilaterally in the body-selective areas; namely the extra-striate body area (EBA), fusiform body area (FBA), posterior superior temporal sulcus (pSTS) and amygdala (AMY). Adults also showed higher activity than adolescents, but only in right hemisphere body-selective areas. Crucially, however, we found that there were no age differences in the emotion modulation of activity in these areas. These results indicate, for the first time, that despite activity selective to body perception increasing across childhood and adolescence, emotion modulation of these areas in adult-like from 7 years of age.Conflict of InterestThe author declares that the research was conducted in the absence of any commercial or financial relationships that could be construed as a potential conflict of interest.

scholarly journals Muscles Recruited During an Isometric Knee Extension is Defined by Proprioceptive Feedback

2019 ◽  
Author(s):  
Gareth York ◽  
Hugh Osborne ◽  
Piyanee Sriya ◽  
Sarah Astill ◽  
Marc de Kamps ◽  
...  
Keyword(s):  
Spinal Cord ◽  
Conflict Of Interest ◽  
Rectus Femoris ◽  
Knee Extension ◽  
Proprioceptive Feedback ◽  
Muscle Synergy ◽  
Knee Angle ◽  
Potential Conflict ◽  
Dynamic Task ◽  
Isometric Knee Extension

AbstractProprioceptive feedback and its role in control of isometric tasks is often overlooked. In this study recordings were made from upper leg muscles during an isometric knee extension task. Internal knee angle was fixed and subjects were asked to voluntarily activate their rectus femoris muscle. Muscle synergy analysis of these recordings identified canonical temporal patterns in the data. These synergies were found to encode two separate features: one concerning the coordinated contraction of the recorded muscles and the other indicating agonistic/antagonistic interactions between these muscles. The second synergy changed with internal knee angle reflecting the influence of afferent activity. This is in contrast to previous studies of dynamic task experiments which have indicated that proprioception has a negligible effect on synergy expression. Using the MIIND neural simulation platform, we developed a spinal population model with an adjustable input representing proprioceptive feedback. The model is based on existing spinal population circuits used for dynamic tasks. When the same synergy analysis was performed on the output from the model, qualitatively similar muscle synergy patterns were observed. These results suggest proprioceptive feedback is integrated in the spinal cord to control isometric tasks via muscle synergies.Significance statementSensory feedback from muscles is a significant factor in normal motor control. It is often assumed that instantaneous muscle stretch does not influence experiments where limbs are held in a fixed position. Here, we identified patterns of muscle activity during such tasks showing that this assumption should be revisited. We also developed a computational model to propose a possible mechanism, based on a network of populations of neurons, that could explain this phenomenon. The model is based on well established neural circuits in the spinal cord and fits closely other models used to simulate more dynamic tasks like locomotion in vertebrates.Conflict of interest statementThe authors declare that the research was conducted in the absence of any commercial or financial relationships that could be construed as a potential conflict of interest.

scholarly journals Certolizumab pegol: new opportunities for treatment of moderate to severe plaque psoriasis

2019 ◽  
Vol 95 (5) ◽  
pp. 50-57
Author(s):  
A. A. Kubanov ◽  
A. L. Bakulev ◽  
M. I. Gluzmin ◽  
M. M. Kokhan ◽  
L. S. Kruglova ◽  
...  
Keyword(s):  
Psoriatic Arthritis ◽  
Conflict Of Interest ◽  
Plaque Psoriasis ◽  
Randomized Clinical Trials ◽  
Placental Transfer ◽  
Certolizumab Pegol ◽  
Fab Fragment ◽  
Potential Conflict ◽  
Severe Plaque Psoriasis ◽  
Tnf Α

Tumor necrosis factor alpha (TNF-α) is one of the key inflammatory cytokines in the pathogenesis of psoriasis and psoriatic arthritis, and its inhibition with genetically engineered biological drugs ensures control of the main symptoms of these diseases. Certolizumab pegol is a PEGylated (linked to polyethylene glycol) Fab’ fragment of a monoclonal antibody that inhibits human TNF-α. It is approved for treatment of moderate to severe plaque psoriasis and psoriatic arthritis. This review summarizes the results of randomized clinical trials of efficacy and safety of certolizumab pegol in plaque psoriasis (CIMPASI 1, CIMPASI 2, and CIMPACT) and psoriatic arthritis (Rapid-PsA). The represented data demonstrate high efficacy of certolizumab pegol is bio-naïve patients and in patients previously exposed to other TNF inhibitors or IL17 inhibitors. The absence of the Fc-fragment in certolizumab pegol ensures minimal to no placental transfer of the drug and enables its usage during the entire pregnancy.Conflict of interest: the authors state that there is no potential conflict of interest requiring disclosure in this article.

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