The effects of pre-IPO corporate activity on newly-public firms' growth

We investigate firms' pre-IPO corporate activity. We find that firms involved in extraordinary – i.e., beyond momentum – amounts of acquisitions, JVs, and alliances in the year leading up to their IPOs (1) are more likely to engage in post-IPO corporate activity; and (2) enter into their first post-IPO transaction twice as fast as other firms. Our results indicate that signaling via extraordinary corporate activity can have a significant effect on entrepreneurial firms’ growth. The implications are discussed.     

Theoretical results on the discrete Weibull distribution of Nakagawa and Osaki

In this paper, we discuss some theoretical results and properties of the discrete Weibull distribution, which was introduced by Nakagawa and Osaki [The discrete Weibull distribution. IEEE Trans Reliab. 1975;24:300–301]. We study the monotonicity of the probability mass, survival and hazard functions. Moreover, reliability, moments, p-quantiles, entropies and order statistics are also studied. We consider likelihood-based methods to estimate the model parameters based on complete and censored samples, and to derive confidence intervals. We also consider two additional methods to estimate the model parameters. The uniqueness of the maximum likelihood estimate of one of the parameters that index the discrete Weibull model is discussed. Numerical evaluation of the considered model is performed by Monte Carlo simulations. For illustrative purposes, two real data sets are analyzed.     

How do industry and country impact firm performance? A national and supranational analysis

We contribute to the literature of the country, industry and firm effects on performance by developing an autoregressive cross-classified mixed-effect linear model that examines heterogeneity in the profitability of corporations in emerging and developed economies, as well as corporations located in different supranational regions. To this purpose, we simultaneously decompose abnormal returns into permanent and transitory components at the firm, industry, country and industry–country levels. We find that firms in emerging countries have significantly higher rates of performance persistence and different sources of persistence compared to firms located in developed countries. These differences are also evident between different supranational regions and countries at different levels of institutional development.

     

Agency and fatalism in older Appalachian women’s information seeking about gynecological cancer

Researchers consider older women in rural Appalachia to have low levels of agency and high levels of fatalism regarding decision making about cancer treatment. Using the life course perspective, we examined older women’s agency with information seeking about gynecological cancer. Semistructured interviews with 20 White women living in central Appalachia revealed four trajectories: Surrendering Control, Accepting Death, Self-Care, and Advocacy, each with its own forms of agency. Some women experienced personal transformation, increased self-efficacy, and a passion for community empowerment. Fatalism was not understood apart from placing trust in medical expertise. We implore researchers to further explore rural expressions of agency.     

Ice pack induced perineal analgesia after spontaneous vaginal birth: Randomized controlled trial

Background

Ice-pack is widely used for alleviating postpartum perineal pain sustained after birth related perineal trauma. However, it lacks robust evidence on timing and frequency of applications, to ensure the effective and safe use of this therapy.

A new mixture model on the simplex

This paper is meant to introduce a significant extension of the flexible Dirichlet (FD) distribution, which is a quite tractable special mixture model for compositional data, i.e. data representing vectors of proportions of a whole. The FD model displays several theoretical properties which make it suitable for inference, and fairly easy to handle from a computational viewpoint. However, the rigid type of mixture structure implied by the FD makes it unsuitable to describe many compositional datasets. Furthermore, the FD only allows for negative correlations. The new extended model, by considerably relaxing the strict constraints among clusters entailed by the FD, allows for a more general dependence structure (including positive correlations) and greatly expands its applicative potential. At the same time, it retains, to a large extent, its good properties. EM-type estimation procedures can be developed for this more complex model, including ad hoc reliable initialization methods, which permit to keep the computational issues at a rather uncomplicated level. Accurate evaluation of standard error estimates can be provided as well.     

Precautionary saving in Spain during the great recession: evidence from a panel of uncertainty indicators

The aim of this paper is to empirically study the effect of uncertainty on private consumption using a sample of Spanish households, and therefore, to test the existence of a precautionary motive for saving. Using data provided by the Spanish Survey of Household Finances and the Labour Force Survey we construct several uncertainty measures that are commonly used in the literature and an additional indicator based on job insecurity data, and we consequently estimate different econometric models under the life-cycle/permanent income hypothesis, including these measures of uncertainty. Our results are twofold: first, we find evidence in favour of the precautionary saving hypothesis. Secondly, we find that, unlike other variables related to the performance of the labour market (such as the unemployment rate) the job insecurity indicator is an appropriate variable to approximate income uncertainty in any macroeconomic context.     

Soil organic carbon stock in different urban land uses: high stock evidence in urban parks

Urban Ecosystems - Urban areas are major producers of atmospheric CO2 emissions, but at the same time they can offset some of the associated C losses by retaining stable organic carbon in their...     

Size does matter: Passive sampling in urban parks of a regional bat assemblage

Urban Ecosystems - We studied the occurrence of bats in urban parks in the city of Madrid (Spain), and the resulting patterns were compared with bat occurrence in the surrounding region. In this...     

Ecohydrological model for the quantification of ecosystem services provided by urban street trees

Urban green spaces have been recognized as an important source of ecosystem services, whose quantification requires the determination of quantities related to energy, water, carbon and soil nutrient content. In this paper we propose a stochastic ecohydrological model that couples two existing models for water and nutrients in urban soil at the single street-tree scale. The model input are rainfall and irrigation, for water, and deposition and fertilization, for nitrogen, while the output are evapotranspiration, runoff and deep percolation, for water, and plant uptake and leaching, for nitrogen. The various terms are related to the amount of paved and impervious surfaces that surround the tree trunk and regulate the water and nutrient fluxes in and out the soil. Particular attention is paid to the effects of seasonal variations on plant water and nutrients through a temporal variation of the hydrologic variables (i.e., temperature and rainfall intensity and frequencies). The average model outputs are preliminarily compared with the scant existing literature data, supporting the model application to cities with different climatic conditions. The model results are used to estimate the potential for ecosystem services like tree cooling effects, soil carbon sequestration or storm-water management. Because of the minimal structure of the proposed model, it requires a very low amount of data, while accounting for the stochastic input of rainfall. In the context of climate change and increasing urbanization, the model may offer useful indications to urban planners to enhance ecosystem services while minimizing irrigation, fertilization and their related costs.