Product Design Awards and The Market Value of The Firm

Product design has increasingly been recognized as an important source of competitive advantage. This study empirically estimates the impact of effective design on the market value of the firm. We use a firm's receipt of a product design award as a proxy for its design effectiveness. Based on data from 264 announcements of design awards given to commercialized products between 1998 and 2011, we find that award announcements are associated with statistically significant positive stock market reactions. Depending on the benchmark model used to estimate the stock market reaction, the market reaction over a two‐day period (the day of announcement and the preceding day) ranges from 0.95% to 1.02%. The market reaction is more positive for smaller firms and for firms whose award winning products are consumer goods. However, a firm's growth potential, industry competitiveness, and whether a firm is a first time or repeated award winner do not significantly affect the market reaction.     

Effects of Cooking Smoke and Environmental Tobacco Smoke on Acute Respiratory Infections in Young Indian Children

Background Reliance on biomass for cooking and heating exposes many women and young children in developing countries to high levels of air pollution indoors. Environmental tobacco smoke also contributes to this indoor air pollution. This study estimates the effects of these sources of air pollution on acute respiratory infections (ARI) in children below 36 months of age in India.Methods The analysis is based on 29,768 children age 0–35 months included in India’s 1998–1999 National Family Health Survey (NFHS-2). Logistic regression is used to estimate effects.Results In NFHS-2, children living in households using only biomass fuels for cooking or heating are almost twice as likely to have suffered from ARI during the 2 weeks before interview as children in households using cleaner fuels (OR = 1.82; 95% CI: 1.58, 2.09). This effect is somewhat reduced when exposure to environmental tobacco smoke (ETS) and a number of other factors are statistically controlled (OR = 1.58; 95% CI: 1.28, 1.95). With these other variables controlled, children in households using a mix of biomass and cleaner fuels also have a higher risk of ARI than children in households using only cleaner fuels (OR = 1.41; 95% CI: 1.17, 1.70). With controls, the effect of biomass fuel use on ARI is stronger for boys (OR = 1.68; 95% CI: 1.26, 2.23) than for girls (OR = 1.49; 95% CI: 1.11, 2.01). The effect of ETS on ARI is also positive and significant, but smaller when other variables (including type of cooking fuel) are controlled (OR = 1.12; 95% CI: 1.01, 1.23). No modifying effects of cooking smoke and ETS are observed.Conclusions Findings support previous research showing positive effects of cooking smoke and ETS on ARI in young children. The relationship needs to be further investigated using more direct measures of smoke exposure and measures of outcome that are more specific to acute lower respiratory infections (ALRI), which are the most important component of overall ARI from a public health standpoint.Medical subject headings (MeSH) air pollution; indoor; biomass; smoke; environmental tobacco smoke; respiratory tract infections; child; India.Please address Correspondence to Vinod Mishra, DHR Division, ORC Macro, 11785 Beltsville Drive, Calverton, MD 20705, USA; e-mail: Vinod.Mishra@orcmacro.com     

Effect of agricultural policy on succession decisions of farm households

Policymakers, economists, and researchers have recently been interested in assessing the impact of farm program payments on the growth and survival of farm businesses. Planning for succession is an integral part of managing a farm business. This study uses farm-level data to investigate the impact of government farm policy and farm growth on both succession decisions and the likelihood of intra-family transfers of the farm business. Results indicate that succession decisions are significantly influenced by government farm policy, farm wealth, age, and educational attainment of current farm operators. Results show that off-farm work by operators and spouses and regional location are positively correlated with non-family farm succession decisions. On the other hand, farm ownership, educational attainment, and marital status of the operator increase the likelihood of family-based succession decisions. However, in the presence of retirement income from other sources such as pension, parents are less likely to have a family successor.

Human Personality Behavior Based on Family Structure Using a Thematic Apperception Test

This study focuses on analyzing the relationship between the ways an individual projects a story from a picture shown to him or her with the past and the family background of the individual. We have taken the sample of 30 students heterogeneous with respect to gender and age. Each respondent was shown three pictures and wrote one story per picture; the stories were then analyzed on the basis of a thematic apperception test (TAT). A human personality has many aspects and dimensions. We will be trying to throw some light on the impact that the family structure and the bringing up of an individual has on the development of his or her personality.     

A New Approach to the Estimation of Inter-Variable Correlation

The use of different measures of similarity between observed vectors for the purposes of classifying or clustering them has been expanding dramatically in recent years. One result of this expansion has been the use of many new similarity measures, designed for the purpose of satisfying various criteria. A noteworthy application involves estimating the relationships between genes using microarray experimental data. We consider the class of ‘correlation-type’ similarity measures. The use of these new measures of similarity suggest that the whole problem needs to be formulated in statistical terms to clarify their relative benefits. Pursuant to this need, we define, for each given observed vector, a baseline representing the ‘true’ value common to each of the component observations. These ‘true’ values are taken to be parameters. We define the ‘true correlation’ between each two observed vectors as the average (over the distribution of the observations for given baseline parameters) of Pearson's correlation with sample means replaced by the corresponding baseline parameters. Estimators of this true correlation are assessed using their mean squared error (MSE). Proper Bayes estimators of this true correlation, being based on the predictive posterior distribution of the data, are both difficult to calculate/analyze and highly non robust. By constrast, empirical Bayes estimators are: (i) close to their Bayesian counterparts; (ii) easy to analyze; and (iii) strongly robust. For these reasons, we employ empirical Bayes estimators of correlation in place of their Bayesian counterparts. We show how to construct two different kinds of simultaneous Bayes correlation estimators: the first assumes no apriori correlation between baseline parameters; the second assumes a common unknown correlation between them. Estimators of the latter type frequently have significantly smaller MSE than those of the former type which, in turn, frequently have significantly smaller MSE than their Pearson estimator counterparts. For purposes of illustrating our results, we examine the problem of inferring the relationships between gene expression level vectors, in the context of observing microarray experimental data.     

Improved estimator of population total in PPS sampling

In this paper, we have considered an estimation of the population total Y of the study variable y, making use of information on an auxiliary variable x. A class of estimators for the population total Y using transformation on both the variables study as well as auxiliary has been suggested based on the probability proportional to size with replacement (PPSWR). In addition to many the usual PPS estimator, Reddy and Rao's (1977) estimator and Srivenkataramana and Tracy's (1979, 1984, 1986) estimators are shown to be members of the proposed class of estimators. The variance of the proposed class of estimators has been obtained. In particular, the properties of 75 estimators based on different known population parameters of the study as well as auxiliary variables have been derived from the proposed class of estimators. In support of the present study, numerical illustrations are given.     

A study of subjective visual disturbances in jewellery manufacturing

Subjective Visual Disturbances are silent adversaries that appear over a period of continued exposure and arise when the visual demands of the tasks exceed the visual abilities of the user. Jewellery manufacturing activity involves precision designs, setting the metal and stones, polishing and filing which requires higher visual demand. Therefore, it is expected that the jewellery manufacturing workers may experience subjective visual disturbances. This study was taken up with the following objectives 1) To study the presence of subjective visual disturbances among jewellery manufacturing workers and compare the same with VDT operators 2) To study the effect of work exposures on subjective visual disturbances and 3) to ascertain whether subjective visual disturbances have any permanent vision related problems. The study was carried out on jewellery manufacturing workers, VDT operators and on graduate students. The symptoms of subjective visual disturbances were identified using a questionnaire developed by Sheedy (2003). Viewing distances were measured and visual angles were calculated. The eye check--ups were also carried out. The subjective visual disturbances were higher in jewellery manufacturing workers. The findings suggest that work exposure has an impact on the causation of subjective visual disturbances. No pathological conditions of the eyes were observed.     

Multidimensional Measures of Female Disempowerment

This study offers a new methodology to measure female disempowerment, where such individuals are denied the liberty of making fundamental life choices, with techniques that have been developed exclusively to measure social deprivation. These multidimensional indicators have been applied to calculate statistics in India at state, regional and national levels, and have provided quantifiable statistics with which to assess regional diversity in gender equity in India. Further, the decomposability property of these indicators have allowed for the identification of those regions (or states) and decisions categories that have contributed more than others to the total disempowerment of women.