The Community Context of Family Structure and Adolescent Drug Use

Using data from the National Educational Longitudinal Study (NELS), this article investigates a number of hypotheses used to explain the relationship between family structure and adolescent drug use. In particular, using linked community‐level data, an explicit examination of hypotheses drawn from a community‐context model is conducted. These hypotheses posit that the impact of family structure on adolescent behavior is, in part, explained by the different types of communities within which families reside and that community characteristics moderate the impact of family structure on drug use. The results of multilevel regression models fail to support these hypotheses; adolescents who reside in single‐parent or stepparent families are at heightened risk of drug use irrespective of community context. Moreover, adolescents who reside in single father families are at risk of both higher levels of use and increasing use over time. A significant community‐level effect involves jobless men: Adolescents are at increased risk of drug use if they reside in communities with a higher proportion of unemployed and out‐of‐workforce men.     

The Taste of the Eye and the Sight of the Tongue: the Relations between Sight and Taste in Early Modern Europe

This article examines the articulation between the senses of taste and sight through the representations of their organs, the tongue and the eye, in early modern Europe. The relationship between taste and sight first brings to mind gastronomical aesthetics, and the part played by the eye in the relish of beautifully presented dishes. The first part of this article is therefore devoted to exploring the taste of the eye (or the foretaste of sight) and highlights the harmony of taste and sight in early modern cuisine. However, the forms of reciprocity between taste and sight cannot be reduced to the sole figure of culinary aesthetics, which tends to blur the other multiple modalities that this sensorial association could reveal. The second part, the sight of the tongue (or the invisibility of taste), thus examines more complex layers of the relationship between the sense of sight and the taste organ, through a study of the representations of the tongue and of the gaping mouth in early modern visual culture. Drawing on early modern textual and iconographic resources and exploring: cookbooks; physiognomic works; conduct books; and also engravings and paintings related to the culinary arts, the seven deadly sins, and representations of madness and the fool in early modern visual culture, this essay argues that examining the representations of the sense organs is a suggestive way to explore the relationship between the senses.     

Internal corporate governance mechanisms as drivers of firm value: panel data evidence for Chilean firms

The paper analyses to what extent ownership structure, capital structure, and dividend policy as corporate governance mechanisms drive the firm value. From a data panel of publicly quoted Chilean firms for the years 2002–2010, we find that there is an inverse U-shaped relationship between ownership concentration and firm value. The positive slope is supported by the supervision hypothesis; whilst the negative relation between ownership concentration and firm value is supported by the expropriation hypothesis. We also find that there is a positive impact of both leverage and the dividend pay-out on the firm value. In this case, these two mechanisms reduce the free cash flows which otherwise might be used opportunistically by managers in their own interests (free rider problem). Contrary to the previous empirical literature in Chile, it is found that the mere fact that a firm is affiliated to a business group/conglomerate impacts positively its value. This positive effect is basically driven by the development of intragroup capital markets, and the governance imposed by the rules of the conglomerate.     

Heteroskedasticity in the Tobit model

The paper deals with parameter estimation and the testing of individual parameters in heteroskedastic Tobit models. The statistical properties of semiparametric and maximum likelihood estimators are evaluated. Correspondingt-test statistics are compared. Results from a Monte Carlo experiment indicate that the semiparametric estimator performs relatively better than the maximum likelihood estimator. The associatedt-test statistics appear to perform better than the corresponding maximum likelihood test statistics. *** DIRECT SUPPORT *** A06GP002 00008