Association Between Self-Perceived General Human-Likeness During Walking and Walking Speed in Stroke Patients: A Preliminary Study.

The difference between the walking speeds of stroke patients and the general population may influence the self-perception of patients, who perceive their walk as lacking general human-likeness. Perception toward human-likeness during walking is defined here as the feeling that one can walk as intended, just like healthy people. Such negative subjective experiences may curb their social participation. However, the perception associated with walking speed in stroke patients is poorly understood. The main purpose of this study was to investigate the relationship between walking speed and perception toward general human-likeness during walking in stroke patients. Thirty-two post-stroke patients were enrolled in this cross-sectional study. Patients performed 10-m walk tests at comfortable and fast speeds and answered questions about their perceived human-like walking after completing the walk ("How much did you feel your walking resembled the human-likeness during walking of general people?"). We found a significant positive correlation between perception toward human-likeness during walking and walking speed at both comfortable and fast speeds. To the best of our knowledge, this report is the first to suggest that walking speed may correlate with self-perception. Our findings may help understand the underlying mechanism in patients perceiving less human-likeness during walking.

Does patenting always help new firm survival? Understanding heterogeneity among exit routes.

Abstract: While patents are a valuable resource ensuring the competitive advantage of firms, there is limited evidence on the role of patents in the survival and exit strategies of new firms. To fill the gap in the literature, we examine whether the effects of patenting on new firm survival vary according to exit routes (bankruptcy, merger, and voluntary liquidation), while considering the endogeneity of patenting. We use a large-scale sample of new firms in the Japanese manufacturing and information services sectors for the period 2003-2013. The findings indicate that new firms with a higher stock of patents are less likely to go bankrupt. Conversely, new firms with a higher stock of patents are more likely to exit via merger. These findings are consistent, regardless of whether patent stock is measured based on the patent applications or granted patents. Furthermore, we provide evidence that new firms with a higher stock of granted patents are more likely to voluntarily liquidate their businesses. Plain English Summary: Can new firms enjoy a "patent premium" in terms of survival and exit outcomes? The findings of this study indicate that (1) patenting reduces the risk of bankruptcy, and (2) it increases the odds of exit via merger and voluntary liquidation. On the one hand, patenting ensures that new firms obtain competitive advantages, and thus, survive in the product market. On the other hand, it enables new firms to pursue successful exit strategies in the markets for ideas. This study concludes that new firms can enjoy a patent premium in terms of survival and exit outcomes. In promoting sustainable economic growth via entrepreneurship, policymakers need to shift their focus from creating more firms to creating innovative firms.

Consumption responses to COVID-19 payments: Evidence from a natural experiment and bank account data.

We document households' spending responses to a stimulus payment in Japan during the COVID-19 pandemic. In response to the pandemic, the Japanese government launched a universal cash entitlement program offering a sizable lump sum of money to all residents to alleviate the financial burden of the pandemic on households. The timings of cash deposits varied substantially across households due to unexpected delays in administrative procedures. Using a unique panel of 2.8 million bank accounts, we find an immediate jump in spending during the week of payments, followed by moderately elevated levels of spending that persist for more than one month after payments are received. We also document sizable heterogeneity in consumption responses by recipients' financial status and demographic characteristics. In particular, demand deposit balances play a more crucial role than other financial asset holdings, suggesting the importance of the wealthy hand-to-mouth.