Markov structure based logistic regression for repeated measures: An application to diabetes mellitus data

In longitudinal studies, as repeated observations are made on the same individual the response variables will usually be correlated. In analyzing such data, this dependence must be taken into account to avoid misleading inferences. The focus of this paper is to apply a logistic marginal model with Markovian dependence proposed by Azzalini [A. Azzalini, Logistic regression for autocorrelated data with application to repeated measures, Biometrika 81 (1994) 767–775] to the study of the influence of time-dependent covariates on the marginal distribution of the binary response in serially correlated binary data. We have shown how to construct the model so that the covariates relate only to the mean value of the process, independent of the association parameters. After formulating the proposed model for repeated measures data, the same approach is applied to missing data. An application is provided to the diabetes mellitus data of registered patients at the Bangladesh Institute of Research and Rehabilitation in Diabetes, Endocrine and Metabolic Disorders (BIRDEM) in 1984, using both time stationary and time varying covariates.     

Board size and firm value: evidence from Australia

We study the effect of board size on firm value in Australia. Using a large sample of Australian firms over the period 2001–2011, we find strong evidence of a negative relationship. We show that firms with a large board are associated with CEO compensation that is sensitive to firm size, but not to firm performance. This incentive to accumulate assets is congruent with the fact that firms with a large board also exhibit lower operating performance and higher operating costs. Furthermore, we find that the effect of board size is stronger in small firms. This result might explain why earlier studies, which focused on large Australian firms, found board size to have little impact on firm value.     

Linking Social Development with the Capacity to Carry Debt: Towards an MDG‐Consistent Debt‐Sustainability Concept

Owing to concerns among low‐income countries that the new debt sustainability framework of the Bretton Woods institutions may lock them into a so‐called ‘low debt‐low growth’ scenario, the United Nations has called for a more MDG‐consistent debt‐sustainability concept. This article shows that there is a robust relationship between achieving the Millennium Development Goals and having a higher capacity to carry debt. It then discusses options for modifying the current debt‐sustainability framework, and suggests that including progress made in achieving the MDGs in determining borrowing limits would be a first step towards adopting such a concept.     

A right to live: girl workers in the Bangladeshi garment industry

According to a survey conducted in 1989, there are 772 approved and registered garment factories in Bangladesh. These factories employ approximately 300,000 individuals, 90% of whom are women. A more recent estimate in a Bangladeshi newspaper, however, posits that up to five million people are directly or indirectly dependent upon the garment industry. Many of the women who work in Bangladesh's garment factories are under age 15 years. In some countries, such as the US, the employment of such young individuals constitutes a violation of child labor laws. Therefore, under the Harkin Bill, the US will no longer import garments produced by children younger than age 15 years. Many garment workers under age 15 years have already been put out of work or will soon be terminated. The authors explain that while the intent of the Harkin Bill may be to protect children, it is difficult to adopt the moral high ground in a poor country like Bangladesh. Regardless of one's age in Bangladesh, having a job may be the only way to survive. No job often means no food or shelter. The authors discuss women in the garment industry, one girl's case, alternative employment opportunities, and the future.     

Impact study of volatility modelling of Bangladesh stock index using non-normal density

This article examines a wide variety of popular volatility models for stock index return, including the random walk (RW), autoregressive, generalized autoregressive conditional heteroscedasticity (GARCH), and asymmetric GARCH models with normal and non-normal (Student's t and generalized error) distributional assumption. Fitting these models to the Chittagong stock index return data from the period 2 January 1999 to 29 December 2005, we found that the asymmetric GARCH/GARCH model fits better under the assumption of non-normal distribution than under normal distribution. Non-parametric specification tests show that the RW-GARCH, RW-TGARCH, RW-EGARCH, and RW-APARCH models under the Student's t-distributional assumption are significant at the 5% level. Finally, the study suggests that these four models are suitable for the Chittagong Stock Exchange of Bangladesh. We believe that this study would be of great benefit to investors and policy makers at home and abroad.     

Job stress, satisfaction and mental health of factory workers in Bangladesh

The present study examined the relationship between job stress, job satisfaction and mental health, and attempted to assess the effects of job stress on different parameters of satisfaction and mental health in the context of two groups of Bangladeshi factory workers. There were 26 subjects in a 'high stress' group and 33 in a 'low stress' group. Individual data were collected by using the Stress and Arousal Checklist, the Job Satisfaction Scale, the General Health Questionnaire, absenteeism by sick leave, a self-esteem at work scale and heart rate monitor. Chi-square and t-tests were applied in the analyses of these data by group. The results, quite expectedly, showed that a greater number of high stress subjects were dissatisfied and had poorer mental health than low stress subjects. The results also showed that low stress subjects were significantly more satisfied and possessed better mental health than the high stress subjects. It would appear that the experience of stress plays an important role in determining the quality of working life of Bangladeshi factory workers having similar consequences in terms of health and well-being to those observed in developed countries. The dynamics of absenteeism in Bangladesh are discussed.     

Gender preference and birth spacing in matlab,Bangladesh

Gender preference, particularly son preference, is believed to sustain high fertility in many Asian countries, but previous research shows unclear effects. We examine and compare gender-preference effects on fertility in two otherwise comparable populations in Bangladesh that differ markedly in their access to and use of contraception. We expect, and find, stronger effects of gender preference in the population that has more access to contraception and higher levels of contraceptive use. Thus gender preference may emerge as a significant barrier to further national family planning efforts in Bangladesh. We find that if a woman has at least one daughter, the risk of a subsequent birth is related negatively to the number of sons. Women with no daughters also experience a higher risk of having a subsequent birth; this finding suggests that there is also some preference for daughters. Son preference is strong in both the early and later stages of family formation, but women also want to have at least one daughter after having several sons.     

Asymptotic estimate of variance with applications to stochastic differential equations arises in mathematical neuroscience

Matrix representation of a limit of variance for circular process is given. It is shown that the variance is asymptotically measured by the decrease in spectral energy in one step of a Markov chain. Then we apply this result to a stochastic differential equation with parametric noise (which arises in mathematical neuroscience) and demonstrate how the results can be used to analyze propagation of a signal in sound mechanism.