Purpose The purpose of this study is to extend the Fraud Diamond Theory to celebrity Special Purpose Acquisition Companies (SPACs) and investigate their post-Initial Public Offering (IPO) stock market performance. Design/methodology/approach After obtaining a sample of celebrity SPACs from the Spacresearch.com database, fraud risk characteristics were obtained from Lexis Nexus searches. Buy and hold abnormal returns were calculated for celebrity SPACs versus a small-cap equity benchmark for time intervals after IPO, and multiple regression analysis was performed to examine the relationship between fraud risk features and post-IPO returns. Findings Celebrity SPACs exhibit Fraud Diamond characteristics and significantly underperform a small-cap stock portfolio on a risk-adjusted basis after IPO. Research limitations/implications This study only examines celebrity SPACs that conducted IPOs on the NYSE and NASDAQ/AMEX and does not include those that are traded on the Over the Counter Bulletin Board (OTCBB). Practical implications Celebrity endorsement of SPAC vehicles attracts investors who may not be properly informed regarding the risk characteristics of SPACs. Accordingly, investors should be warned that celebrity SPACs underperform a small-cap equity portfolio and exhibit significant elements of fraud risk. Social implications The use of celebrity endorsement as a marketing device to attract investment in SPACs has regulatory implications. Originality/value To the best of the authors’ knowledge, this paper is the first to examine the fraud risk characteristics and post-IPO performance of celebrity SPACs.

Purpose The purpose of this paper is to describe how non-fungible tokens (NFTs) can be used in the commission of financial crime, including money laundering and crypto-fraud schemes, using the framework of the Space Transition Theory. Design/methodology/approach A literature review relating the Space Transition Theory to crime vulnerabilities related to NFTs is conducted and practical examples illustrating NFT schemes are provided. Findings The authors find that the Space Transition Theory explains the evolution of financial crimes into the NFT space. The transformation of the art industry from the physical to the virtual space through NFTs underlies the criminal activity surrounding them. NFTs enable crime because of the flexibility, dissociative anonymity, lack of deterrence and anonymity. Research limitations/implications Criminals can easily take advantage of the users’ limited knowledge of blockchain to defraud them of their money or tokens. These risks accentuate the need to adopt appropriate measures to augment the accountability of NFT transactions. Until such interventions are implemented, the NFT market remains a highly viable space for the perpetration of financial crimes. Practical implications The dynamic nature of the cyberspace and fast-past underlying technology provide a greater chance to escape than crimes committed in the physical space. The state of security on NFT platforms has elicited concerns from diverse quotas. NFTs pose significant money laundering risks because of the lack of appropriate regulatory mechanisms, generating a need for enhanced oversight and enforcement of sectors of the economy in physical space vulnerable to abuse in the NFT space, including entities such as art galleries, museums, sports teams and luxury brands. Social implications The Space Transition Theory is also supported in that norms and values regarding ethics and criminal actions in the physical space do not transfer to cyber space. Originality/value The novelty aspect of this research is in applying the Space Transition Theory to financial crime schemes based on NFTs.

Purpose The purpose of this study is to describe the evolution of fraud schemes with historically conducted with fiat money in physical space to the crypto-assets in digital space as follows: ransomware, price manipulation, pump and dump schemes, misrepresentation, spoofing and Ponzi Schemes. To explain how fraud schemes have evolved alongside digital asset markets, this study applies the space transition theory. Design/methodology/approach The methodology used is a review of the media regarding six digital asset fraud schemes that have evolved from physical space to virtual space that are currently operational, as well as a review of the literature regarding the space transition theory. Findings This paper finds that the digital space and digital assets may facilitate pseudonymous criminal behavior in the present regulatory environment. Research limitations/implications The field is rapidly evolving, however this study finds that the conversion from physical to virtual space obfuscates the criminal activity, facilitating anonymity of the perpetrators, and creating new challenges for the legal and regulatory environment. Practical implications This paper finds that the digital space and digital assets may facilitate pseudonymous criminal behavior in the present regulatory environment. An understanding of the six crypto-asset fraud schemes described in the paper is useful for anti-financial crime professionals and regulators focusing on deterrence. Social implications The space transition theory offers an explanation for why digital space leads criminals to be better positioned to conduct financial crime in virtual space relative to physical space. This offers insights into behavior of digital asset fraudster behavior that could help limit the social damage caused by crypto-asset fraud. Originality/value To the authors’ knowledge, this paper is the first to detail the evolution of fraud schemes with fiat money in physical space to their corresponding schemes with digital assets in physical space. This study is also the first to integrate the space transition theory into an analysis of digital asset fraud schemes.

We examine the market reaction and shift in risk from nine prominent government interventions in response to the crisis between February 2007 and July 2009 on four types of institutions: banks, savings and loan associations (S&Ls), insurance companies, and real estate investment trusts (REITs). Overall, with the exception of the Troubled Assets Repurchase Program (TARP), the interventions were wealth-decreasing and risk-increasing events for financial institutions. Leveraged firms and firms with higher trading volumes earn significantly lower abnormal returns. For both during- and post-crisis periods, larger firms experience increases in systematic risk; non-U.S. firms experience lower changes in systematic risk. (C) 2013 Elsevier Inc. All rights reserved.

Ervin F. Sparapani is a professor in the Department of Middle School and Secondary Teacher Education at Saginaw Valley State University, Saginaw, Michigan. Byung-In Seo is an assistant professor in the Department of Doctoral Studies at Chicago State University, Chicago, Illinois. Deborah L. Smith is an assistant professor in the Department of Middle School and Secondary Teacher Education at Saginaw Valley State College, Saginaw, Michigan. Their e-mail addresses are ervin-f-sparapani@svsu.edu, bseo@csu.edu, and deborah-l-smith@svsu.edu Introduction

This article discusses urban educators’ views of their teaching experiences. The article is based upon survey research conducted with teachers in two poor, urban districts during the 2005–2006 academic year. The teachers reported a variety of positive and negative views regarding their classrooms, their students, and the students’ social worlds. The data illustrate the importance of classroom processes for the teachers, and how they believed that their students’ social locations, behaviors, and attitudes impede the delivery of educational content. We believe this research raises interesting challenges regarding the need for urban educators to incorporate students’ perspectives into both instructional processes and curriculum content. Furthermore, this research should contribute to the empirical foundation needed for the creation of better teacher preparation programs.

The article presents information on a study which finds an interpretive exploration of teachers' perception of violence and its links with their decision to leave urban schools. It also addresses the important research gap and offers some suggestions for trying to lessen teacher attrition in urban districts. The study presents the stories of those who began their career in urban districts and then left with in five years. The threat of violence in the urban schools was a factor that greatly contributed to the stress level for many of the teachers. The exposure to violence in urban schools can have a profound effect on the daily functioning of inner-city schools. The fear that some students feel about going to school is echoed by their teachers and this can play a direct role in the deterioration of community relations for urban schools. In the study one-third of teachers reported that because of the threat of violence, both teachers and students in the schools were less eager to go to school.

Extract HTML view is not available for this content. However, as you have access to this content, a full PDF is available via the ‘Save PDF’ action button. Extended abstract of a paper presented at Microscopy and Microanalysis 2005 in Honolulu, Hawaii, USA, July 31--August 4, 2005

Regulator of G protein signaling (RGS) proteins function as GTPase accelerating proteins (GAP) for Gα subunits, attenuating G-protein-coupled receptor signal transduction. The present study tested the ability of members of different subfamilies of RGS proteins to modulate both G-protein-dependent and -independent signaling in mammalian cells. RGS4, RGS10, and RGSZ1 significantly attenuated Gαi-mediated signaling by 5-HT1A, but not by dopamine D2, receptor-expressing cells. Additionally, RGS4 and RGS10 significantly inhibited forskolin-stimulated cAMP production in both cell lines. In contrast, RGS2, RGS7, and RGSZ1 had no effect on forskolin-stimulated cAMP production in these cells. RGS2 and RGS7 significantly decreased Gαq-mediated signaling by 5-HT2A receptors, confirming that the RGS4 and RGS10 effects on forskolin-stimulated cAMP production were specific, and not simply due to overexpression. Interestingly, similar expression levels of RGS4 protein resulted in greater inhibition of G-protein-independent cAMP production compared to G-protein-dependent GAP activity. Our results suggest specificity and selectivity of RGS proteins on G-protein-dependent and -independent signaling in mammalian cells.

The functional consequences of the mutation of a conserved Cys-214 in Galpha(i1) have been investigated. We reported herein that substitutions of Cys-214 of Galpha(i1) to either alanine or tryptophan abolished the intrinsic GTPase activity. Free phosphate release from [32P]GTP-bound Galpha(i1) C214A or [32P]GTP-bound Galpha(i1) C214W was at least 30-fold lower than that of the wild-type Galpha(i1) in single-turnover GTPase assays. Consistently, tryptic proteolysis of C214A and C214W proteins showed that they were partially protected by GTP, further confirming that the GTPase activity in both mutant proteins was impaired. Expression of C214A or C214W mutants in Chinese hamster ovary K1 cells caused significant inhibition of forskolin-stimulated adenylate cyclase activity. However, the mutations did not significantly affect the GTP[S] (guanosine 5'-[gamma-[35S]thio]triphosphate)-binding activity. Both C214A and C214W mutants serve as good substrates for pertussis toxin-catalysed ADP ribosylation, indicating that they interact well with betagamma subunits. Moreover, RGS4 protein, a GTPase-activating protein for Galpha(i1), cannot interact with Cys-214 mutants even in the presence of AlF4-, which induces the transition state of Galpha. In summary, our findings suggest that C214A or C214W are GTPase-deficient mutants and can functionally serve as constitutively active forms of Galpha(i1) in cells.

Objective: Patient history is commonly used to direct evaluation of infertile couples but this modality has poor predictive value, particularly as regards prior exposure to chlamydia trachomatis, which is associated with tubal pathology. The purpose of this study is to identify those clinical and laboratory characteristics which might be helpful in guiding evaluation and subsequent intervention. In particular, the use of C. trachomatis IgG titers in directing care is assessed. Design: A retrospective chart review of women seeking infertility treatment in a University based reproductive medicine clinic. Materials/Methods: Medical records were reviewed for 256 women who sought infertility treatment from 1995 through 1999 and were tested for previous C. trachomatis infection using a micro-immunofluorescence (MIF) assay. Demographic, gynecologic and obstetric data, including knowledge of prior exposure to sexually-transmitted diseases (STD), duration of infertility, and ovulatory and male factor status were reviewed. Hysterosalpingogram (HSG) and/or laparoscopy results were used to determine the presence of tubal/peritoneal disease. Contingency tables and logistic regression were used to identify the risk for tubal disease in women with positive IgG titers and the strength of the association when compared to other risk factors. Results: Of the 256 women evaluated, 60 had positive C. trachomatis IgG titers (23.4%). A positive chlamydial IgG antibody test was associated with a 1.7 times relative risk of tubal abnormality (95% C.I. 0.99, 2.9; p = 0.057). When comparing the results of the MIF assay, there were no differences in age at presentation, duration of infertility, ovulatory and male factor status and contraceptive, alcohol and tobacco use. There was also no difference in the results of C. trachomatis IgG titers with regard to a patient's knowledge of her exposure to the pathogen. Logistic regression revealed that chlamydial IgG titers are the most robust clinical predictors of tubal disease, although this analysis did not achieve statistical significance. Conclusions: The trend seen in positive IgG titers as a predictor of tubal abnormmality implies that this method is more reliable than patient self-reported chlamydial history. While historical data is notoriously poor in suggesting exposure to C. trachomatis, antibody testing may be a more reliable predictor of tubal abnormality. A larger number of cases are needed to determine the absolute usefulness of IgG antibody testing in the evaluation of infertility patients. Supported by: None.