The Paycheck Protection Program: Minority vs. Non-Minority Bank Response

We are the first to empirically analyze whether the Guidance on Accessing Capital for Minority, Underserved, Veteran and Women-Owned Business Concerns (Guidance) program was successful. The program was implemented to promote the Paycheck Protection Program (PPP) loans provided by Minority Depository Institutions (MDIs) in the second round compared to the first round of PPP. Using both loan-level data from the Small Business Administration (SBA) and balance-sheet-level data from the Federal Deposit Insurance Corporation (FDIC), we obtain compelling empirical evidence indicating that MDIs issued relatively more PPP loans (scaled by institution assets) than non-MDIs in the second round. This finding is evidence that the goal of dedicated access for MDIs under the Guidance program was successful. It also enhances the understanding of the PPP lending program and the impact of the Federal Reserve PPP Liquidity Facility (PPPLF) in terms of the role played by MDIs

Biomarkers in Borrelia burgdorferi infected triple-negative breast cancer cells

Triple-negative breast cancer (TNBC) is an aggressive subtype of breast cancer with limited treatment options and a poor prognosis. Although some studies have attempted to identify new biomarkers and therapies, only a few have shown promise in clinical trials. In the context of cancer development, infectious agents rank as the third major risk factor, contributing to approximately 15-20% of cancer cases, according to the American Cancer Society. Hence, the identification of biomarkers associated with infection-originated cancer is crucial for enhancing cancer prevention, early detection, diagnosis, and treatment. Borrelia burgdorferi, the causative agent of Lyme disease, has been linked to TNBC and its aggressive characteristics. Therefore, investigating prognostic or diagnostic markers in B. burgdorferi-infected TNBC cells holds great potential for shedding light on the mechanisms underlying this complex association. In this study, we employed RNA-Sequencing (RNA-Seq) technology to examine changes in gene expression induced by B. burgdorferi infection in TNBC cell line MDA-MB-231 and a normal breast epithelial cell line (MCF10A). Our analysis identified common biomarkers, including CXCL-1, CXCL-8, C3, PTGS2 (COX2), and SAA1, in B. burgdorferi -infected TNBC cells. The genes identified for MCF10A included members of the CXCL family (CXCL10, CXCL8, CXCL3, and CXCL2), CCL20, and IFIT1. Furthermore, pathway analysis using KEGG and REACTOME databases revealed the involvement of the IL-4, 10, 13 & 17 signaling, TNF, NOD like receptor, TLR, NF-kB and Chemokine-signaling pathways. The most enriched signaling pathways in MCF10A included the IL-10 & 17, chemokine, cytokine and TNF signaling pathways. Common infectious diseases pathway associated in TNBC cells included COVID-19, Legionellosis, Prion disease, Influenza-A, Pertussis, Measles, Kaposi-sarcoma-associated herpesvirus, and Chagas disease, among others with several of the above identified genes in 7 function. The most common infectious disease associated pathways in MCF10A cells included Amoebiasis, Legionellosis, Hepatitis-C and Influenza-A. There were common metabolic pathways observed for MCF10A from the KEGG and REACTOME servers which include fatty acid metabolism, glycolipid metabolism and steroid metabolism. Also, certain biosynthesis pathways such as steroid and terpenoid backbone biosynthesis pathways were observed common from the KEGG and REACTOME servers for MCF10A.These findings highlight the significance of exploring these potential biomarkers as therapeutic targets in B. burgdorferi -associated TNBC. Our study provides a promising starting point for future research endeavors aimed at improving diagnostic and treatment strategies for this challenging infection-associated cancer subtype

Service Brand Loyalty Antecedents: A Multimodal Analysis of Brand Name Attributes, and Attitudes Toward Services and Advertisements

The study investigates service brand loyalty antecedents as evidenced by brand name attributes and attitudes toward services and advertisements. Print advertisements from ten service industries are analyzed using multiple regression. A model is provided examining the influences of service type, brand name attributes, and attitudes toward the services and advertisements on respondent propensity for service brand loyalty. Significant loyalty resulted with all advertisements for attitudes toward the service provided and the advertisement with exception for airlines. Brand name attributes impacted only four services including design, healthcare, insurance, and airline offerings. Across all industries, service attitude had the greatest effect followed by advertisement attitude. Loyalty for design and insurance services was influenced by all three antecedents with the greatest impact demonstrated for health care. In contrast, airlines exhibited the least effects. Services rated as good or likeable, with brand names that sent a message and explained the service, and whose advertisements evoked useful and informative attitudes were the strongest loyalty indicators. Further insight is gained as tailored advertising strategies across industries with recognition for specific service types are recommended. A one-size standardized approach is not effective as service type is proven to have significant impact on brand loyalty. The model findings provide comprehensive support for prior recognition of service type and identified service advertisement antecedents which will then foster increased service brand loyalty

Do Oil Shocks Affect Financial Stress? Evidence from Oil-Exporting and -Importing Countries

In recent years, there is increasing attention to examining the relationship between oil prices, financial markets, and the economy. Relatively little is known about the dynamic relationship between structural oil shocks and financial market stress of countries, which are majorly dependent on oil price fluctuations. This paper examines the impact of structural oil shocks (oil supply shocks, global aggregate demand shocks, speculative shocks, and other oil shocks) on the financial stress of major oil-exporting and-importing economies. In this study, we construct a financial stress index and using a structural vector autoregression model, we investigate the effects of oil price shocks on the financial stress of major oil-exporting and importing economies. We find evidence that global demand shocks, followed by speculative demand shocks, have significant impacts on financial stress. Furthermore, the US subprime crisis has a significant bearing on the response of the financial stress index to structural oil shocks. The magnitude of oil price shocks on financial stress has subdued during the post-crisis period

Rattus Norvegicus as a Biological Detector of Clandestine Remains and the Use of Ultrasonic Vocalizations as a Locating Mechanism

In investigations, locating missing persons and clandestine remains are imperative. One way that first responder and police agencies can search for the remains is by using cadaver dogs as biological detectors. Cadaver dogs are typically used due to their olfactory sensitivity and ability to detect low concentrations of volatile organic compounds produced by biological remains. Cadaver dogs are typically chosen for their stamina, agility, and olfactory sensitivity. However, what is not taken into account often is the size of the animal and the expense of maintaining and training the animal. Cadaver dogs are typically large breeds that cannot fit in small, hard to reach places, such as collapsed buildings. Another small animal could be used as a biological detector in addition to cadaver dogs. This research tried to determine if Rattus norvegicus, or a brown laboratory rat, could be trained to identify the volatile organic compounds of decomposition and return when called, and if the vocalizations could alert to the location of the clandestine remains as well. Rats were trained in increasingly larger environments using classical conditioning and positive reinforcements. It was determined that while Rattus norvegicus could be trained to find the scent of decomposition and could be trained to return when call, Rattus norvegicus did not vocalize at the scent of decomposition. Future research projects would need to be done in order to determine the full ability of Rattus norvegicus as a biological detector of clandestine remains

Capital Age and Labor Investment Efficiency

This study examines how capital age affects the efficiency of corporate labor investments. Using a sample of 1,588 US firms from 1991 to 2016, we find that the efficiency of labor investments increases as technology ages. Subsample analysis on labor investment efficiency suggests that old capital decreases labor over- and underinvestment. Our results remain robust to alternative specifications and restricted to small firms and industries requiring high labor skills. These findings add to the growing literature examining how learning affects a variety of phenomena in finance. Managers\u27 increased understanding of their capital over time facilitates the efficiency of corporate labor investments

Sentiment and Accruals Earnings Management: Does Governance and Regulatory Environment Matter?

This paper examines the implications of firm-level governance mechanisms and the regulatory environment on the relationship between investor sentiment and accrual-based earnings management. Our findings confirm the positive impact of sentiment on earnings management through accruals. Our results confirm that in the presence of a stringent regulatory environment, the likelihood of abnormal accruals following a positive sentiment environment is low. We document that a stringent regulatory environment reduces the likelihood of abnormal accruals following a positive sentiment environment. Results further confirm that improved governance characteristics like larger board, increased board independence, and stringent related party transaction norms help to monitor corporate behaviour and mitigates opportunistic earnings management activity of managers with an exogeneous effect of market sentiment. Thus, our results have important implications for regulators and policymakers for strengthening the regulatory and monitoring environment. Investors may also use earnings announcement news during an optimistic market sentiment scenario in a more informative way

Contribution of Exchange Traded Funds in Hedging Crude Oil Price Risk

In this study, we empirically analyze the contributions of three crude oil-based exchange traded funds (ETFs) and the futures contract in hedging crude oil price risk. In order to measure hedging contributions of ETFs, we estimate the usual minimum variance hedge ratios as well as the quantile based minimum variance hedge ratios based on three different methods. We also compute the hedging effectiveness of the futures contract and three ETFs. We find that ETFs can be used as hedging instruments especially for the longer hedging horizons and extreme quantiles. However, overall, we find the futures contract to be the most effective instrument for hedging

Demystifying the Effect of High-Performance Work Systems on Job Involvement Based on Dual-Path Mediation Model

This study investigates the links between high-performance work systems (HPWS) and job involvement (JI) via organizational justice (OJ) and employee well-being (EW) as mediators. The proposed social exchange theory-based research framework is used to demystify the role of HPWS on job involvement. The proposed framework is validated with ten five-star hotels in India through structural equation modelling. The model reliability and robustness of constructs are tested with confirmatory factor analysis. The findings indicate that organizations must pay close attention to the perceptions of organizational justice and employee wellbeing to foster greater job involvement in their workforce. The positive relationship between HPWS and job involvement was found to be partially mediated by organizational justice and employee wellbeing. Further, HPWS showed a positive relationship with job involvement that was both direct and significant. The present research contributes to the existing body of literature by examining organizational justice and employee wellbeing as mediating variables between HPWS and job involvement in the Indian hotel industry

Attention-Deficit/Hyperactivity Disorder: Evaluating the Diagnostic Process for Children and Adolescents in the Connecticut School System

Background: There is currently limited literature on the diagnostic process for Attention- Deficit/Hyperactivity Disorder (ADHD) for children and adolescents in the Connecticut school system. The current literature describes a high-level process outlined by the federal government\u27s Individuals with Disabilities Education Act (IDEA). Purpose: This research study reviewed the diagnostic process for ADHD in the Connecticut school system to outline the process school diagnostic teams are using. This study also measured potential opportunities for performance improvement in the diagnostic process of a school system. Methodology: Semi-structured interviews with school psychologists in Connecticut provided data to clarify the process, methods, and tools used to evaluate and diagnose ADHD in the Connecticut school system. Results: The findings showed that the Connecticut Department of Education does not provide guidelines for evaluation methods or tools to use in the evaluation phase of the diagnostic process. Because of that, school diagnostic teams use various evaluation methods and tools to perform diagnostic functions in the Connecticut school system. Discussion: The variation in assessment methods and tools being used could be leading to errors in diagnostic outcomes for ADHD. The Connecticut Department of Education should develop guidelines for preferred assessment methods and tools that school diagnostic teams should use within the diagnostic process. Providing guidelines for methods and tools can create a unified diagnostic approach and lead to more efficient health outcomes for children and adolescents in Connecticut