We examine the relationship between portfolio manager ownership, closed-end fund premiums/discounts, and future returns. Using a sample of 592 closed-end funds in 2005, representing 95% of the entire industry, we find that fund manager ownership has a positive and economically significant impact on fund premiums and future fund performance measured using both NAV and price returns. Furthermore,...

Eric Zarahn, Leeor Alon, Sophia L. Ryan, Ronald M. Lazar, Magnus-Sebastian Vry, Cornelius Weiller, Randolph S. Marshall and John W. Krakauer The Neurological Institute, New York, NY 10032, USA, Department of Neurology, Columbia University College of Physicians and Surgeons, New York, NY 10032, USA, Department of Neurology, University of Freiburg and Department of Neurology, Johns Hopkins Univer...

We mapped and characterized changes in the activity of brainstem cell groups under hypoxia in one-day-old newborn mice, an animal model in which the central nervous system at birth is particularly immature. The classical biphasic respiratory response characterized by transient hyperventilation, followed by severe ventilation decline, was associated with increased c-FOS immunoreactivity in brain...

The helminth burdens of 17 springbok from 2 localities in the Transvaal and of 4 springbok from the western Cape Province were determined. Eight of the animals from the Transvaal and the 4 from the Cape Province were also examined for arthropod parasites. In all, 26 helminth species, 5 species of ixodid ticks and 4 species of lice were recovered from the springbok. Of the helminths Dictyocaulus...

John Earman and John T. Roberts advocate a challenging and radical claim regarding the semantics of laws in the special sciences: the statistical account. According to this account, a typical special science law “asserts a certain precisely defined statistical relation among well-defined variables” (Earman and Roberts 1999) and this statistical relation does not require being hedged by ceteris ...

This paper analyzes differences in welfare utilization between immigrants and natives in Sweden using a large panel data set for the years 1990 to 1996. We find that immigrants use welfare to a greater extent than natives and that differences cannot be explained by observable characteristics. Welfare participation decreases with time spent in Sweden. Refugees assimilate out-of welfare at a fast...

In order to get a more complete picture of how labor supply is affected by economic incentives, the effects on absenteeism and not just on contracted hours should be taken into account. In particular, absenteeism due to sick leave can be considerable. In this paper we examine whether the level of sick leave compensation affects sick leave behavior. Using time-series data for Sweden spanning a l...

In rats, opioids produce analgesia in large part by their effects on two cell populations in the medullary raphe magnus (RM). To extend our mechanistic understanding of opioid analgesia to the genetically tractable mouse, we characterized behavioral reactions and RM neural responses to opioid administration. d-Ala(2), N-Me-Phe(4)-Gly(5)ol-enkephalin, a mu-opioid receptor agonist, microinjected ...

Retailing Innovations in a Globalizing Retail Market Environment Werner Reinartz a,∗, Benedict Dellaert b,1, Manfred Krafft c,2, V. Kumar d,3, Rajan Varadarajan e,4 a Department of Retailing and Customer Management, University of Cologne, Albertus-Magnus-Platz 1, 50923 Cologne, Germany b Department of Business Economics, Erasmus University Rotterdam, Postbus 1738, 3000 DR, Rotterdam, The Nether...