Legitimacy and Forced Democratisation in Social Movements

Social movements are voluntary events whose participants have the right to leave whenever they disagree with their leaders. For this reason, the legitimacy of social movements is often perceived as inherent and thus of only secondary importance. This article aims to repudiate this view by demonstrating that legitimacy issues can impose constraints and have significant impacts on the relationships and decisions of the leaders of social movements. In the case of the Umbrella Movement, bottom-up legitimacy challenges to movement leaders’ authority not only forced the leaders to reform their decision-making structure and even implement direct democracy, but also intensified the relationships among the leaders of different factions, ultimately undermining the leadership’s overall effectiveness

Legitimacy and Forced Democratisation in Social Movements

Social movements are voluntary events whose participants have the right to leave whenever they disagree with their leaders. For this reason, the legitimacy of social movements is often perceived as inherent and thus of only secondary importance. This article aims to repudiate this view by demonstrating that legitimacy issues can impose constraints and have significant impacts on the relationships and decisions of the leaders of social movements. In the case of the Umbrella Movement, bottom-up legitimacy challenges to movement leaders’ authority not only forced the leaders to reform their decision-making structure and even implement direct democracy, but also intensified the relationships among the leaders of different factions, ultimately undermining the leadership’s overall effectiveness

Légitimité et démocratisation forcée dans les mouvements sociaux

Les mouvements sociaux sont des évènements volontaires que leurs participants ont le droit de quitter dès lors qu’ils sont en désaccord avec leurs leaders. Pour cette raison, la légitimité des mouvements sociaux est souvent perçue comme leur étant inhérente, et, par conséquent, d’une importance secondaire. Cet article vise à réfuter ce point de vue en démontrant que les questions de légitimité peuvent engendrer des contraintes et avoir un impact important sur les relations entre les leaders de mouvements sociaux et sur les décisions qu’ils prennent. Dans le cas du mouvement des parapluies, une remise en cause par la base de la légitimité de l’autorité des leaders du mouvement a non seulement obligé ces derniers à réformer leur structure de prise de décision, et même à mettre en place une démocratie directe, mais aussi à intensifier les relations entre les leaders des différentes factions, au point de saper finalement l’efficacité générale du leadership

Prolonged exposure to bacterial toxins downregulated expression of toll-like receptors in mesenchymal stromal cell-derived osteoprogenitors

<p>Abstract</p> <p>Background</p> <p>Human mesenchymal stromal cells (MSCs, also known as mesenchymal stem cells) are multipotent cells with potential therapeutic value. Owing to their osteogenic capability, MSCs may be clinically applied for facilitating osseointegration in dental implants or orthopedic repair of bony defect. However, whether wound infection or oral microflora may interfere with the growth and osteogenic differentiation of human MSCs remains unknown. This study investigated whether proliferation and osteogenic differentiation of MSCs would be affected by potent gram-positive and gram-negative derived bacterial toxins commonly found in human settings.</p> <p>Results</p> <p>We selected lipopolysaccharide (LPS) from <it>Escherichia coli </it>and lipoteichoic acid (LTA) from <it>Streptococcus pyogenes </it>as our toxins of choice. Our findings showed both LPS and LTA did not affect MSC proliferation, but prolonged LPS challenge upregulated the osteogenic differentiation of MSCs, as assessed by alkaline phosphatase activity and calcium deposition. Because toll-like receptors (TLRs), in particularly TLR4 and TLR2, are important for the cellular responsiveness to LPS and LTA respectively, we evaluated their expression profiles serially from MSCs to osteoblasts by quantitative PCR. We found that during osteogenic differentiation, MSC-derived osteoprogenitors gradually expressed TLR2 and TLR4 by Day 12. But under prolonged incubation with LPS, MSC-derived osteoprogenitors had reduced TLR2 and TLR4 gene expression. This peculiar response to LPS suggests a possible adaptive mechanism when MSCs are subjected to continuous exposure with bacteria.</p> <p>Conclusion</p> <p>In conclusion, our findings support the potential of using human MSCs as a biological graft, even under a bacterial toxin-rich environment.</p

A R&D Based Real Business Cycle Model

The New Keynesian Real Business Cycle model with staggered price adjustment is augmented with a R&D producing sector. Two sources of economic shocks are considered, namely random paritcipation (perturbances to value of alternative investment opportunities in another sector) and financial intermediation (shocks to the cost of raising capital in the financial intermediation market). We find that, when comparing to the baseline model, both models can explain pro-cyclical R&D spending. Additionally, the investment oversensitivity problem is corrected. However, only the financial intermediation model is consistent with the observed finding that volatility of R&D is larger than that of investment and output

The Conditional CAPM, Cross-Section Returns and Stochastic Volatility

Bansal and Yaron (2004) demonstrate, by calibration, that the Consumption-Based Capital Asset Pricing Model (CCAPM) can be rescued by assuming that consumption growth rate follows a stochastic volatility model. They show that the conditional equity premium is a linear function of conditional consumption and market return volatilities, which can be estimated handily by various Generalized Autoregressive Conditonal Heterskedasticity (GARCH) and Stochastic Volatility (SV) models.We find that conditional consumption and market volatilities are capable of explaining cross-sectional return differences. The Exponential GARCH (EGARCH) volatility can explain up to 55% variation of return and the EGARCH model augmented with (cay) ̂ -a cointegrating factor of consumption, labor income and asset wealth growth- greatly enhance model performance. We proceed to test another hypothesis: if Bansal and Yaron estimator is an unbiased estimator of true conditional equity premium, then the instrumental variables for estimating conditional equity premium should no longer be significant.We demonstrate that once the theoretical conditional risk premium is added to the model, it renders all instrumental variables redundant. Also, the model prediction is consistent with observed declining equity premium

Editorial: The good side of technology: how we can harness the positive potential of digital technology to maximize well-being

The rapid advancement of digital technology has transformed society and undeniably impacted wellbeing. With the advent of smartphones and social media, a host of empirical articles, popular press pieces, non-fiction books, and documentaries have highlighted the potential negative effects of technology, such as addiction, loneliness, and depression (e.g., Alter, 2017; Twenge et al., 2018; Orlowski, 2020). While it is important to acknowledge and address the potentially detrimental effects of this increasing technological reliance, we believe that it is imperative that researchers, developers, and users embrace a more balanced approach that also recognizes the positive potential of digital technology to support wellbeing. This Research Topic demonstrates a variety of ways in which technological tools can be both designed and used to maximize wellbeing across a range of domains. These studies collectively emphasize a critical message: for the most part technology itself is neither good nor bad, but how technological affordances are harnessed determines their impact on wellbeing. While we cannot ignore potential pitfalls, recognizing and leveraging the positive potential of digital technology is a paramount endeavor as technology becomes further integrated in our lives

An Examination of Sports Event Sentiment: Microeconomic Evidence from Borsa Istanbul

This paper examines the impact of international soccer matches on the Turkish stock market using firm level and sorted portfolio data, i.e. microeconomic evidence. Applying the Edmans et al. (2007) estimation method, we find a significant negative loss effect. However, once using panel data analysis and modeling spatial and temporal effects explicitly, we not only reject the null hypothesis of the sports sentiment effect, but also find that the international soccer games virtually have no power explaining stock return variation. The same conclusions are made when replacing win/loss dummies with unexpected win (loss) variable and sorting portfolio returns by market capitalization, past returns and volatility. Although we found mild evidence that sports events could affect the variance of sorted portfolio returns, there is very limited micro-evidence to support the 'overreaction' hypothesis of individual investors using Borsa Istanbul data

Number of Courses, Content of Coursework, and Prior Achievement as Related to Ethnic Achievement Gaps in Mathematics

This study utilized base-year and second follow-up data from the National Educational Longitudinal Study of 1988 to investigate the relationship between eighth-grade math achievement, mathematics course-taking in high school, and twelfth-grade math achievement. Results suggested the following: 1) Type of coursework can be quantified. 2) Type of coursework was more predictive of achievement than amount. 3) There were substantial ethnic achievement differences prior to high school. 4) Number of courses, type of courses, and prior achievement were not equally predictive of twelfth-grade mathematics achievement across ethnic groups. 5) Prior achievement did not equally predict course-taking over ethnic groups in amount or type. 6) Closing ethnic achievement gaps will be a function of efforts taken before high school as well as high school coursework