ESOPS: Financial performance and federal tax incentives

Previous research has suggested a relationship between the establishment of employee stock ownership plans (ESOPs) and post-adoption improvements in financial performance — presumably as a result of the alignment of employee and stockholder interests. I examine the role of tax incentives on the financial performance of ESOP firms. The results indicate that ESOPs formed prior to the availability of tax incentives provided by the Tax Reform Act of 1986 have experienced significantly greater improvement in financial performance than ESOPs established after passage of the Act. The results are consistent with my hypothesis and suggest that even though ESOPs can be utilized to reduce a firm's federal income tax liability, ESOPs may be more useful to management to reduce agency costs throughout the firm. This paper is based on my Ph.D. dissertation completed at the University of Alabama. I sincerely appreciate the efforts of my dissertation chairman, Lawrence W. Foster, and committee members, M.M. Petty, Clyde J. Scott, Michael T. Dugan, and Bruce E. Barrett.     

Coparenting in Families of Mexican Descent: Exploring Stability,Antecedents, and Typologies

In this prospective study, we examined coparenting in families of Mexican descent with children in Head Start programs. A sample of 57 two-parent families participated in in-home interviews 12 months apart. Evaluations of parental agreement on child-rearing practices, perceptions of partner's involvement, and joint decision making were moderately stable over 1 year. Marital quality assessed 12 months earlier significantly predicted maternal reports of coparenting, but fewer antecedents were revealed for fathers. Few associations emerged between children with difficult temperaments and coparenting. Cluster analysis identified three types of coparenting dyads: both parents reported average to above average coparenting, mothers reported below average and fathers were average or above, and fathers were below and mothers were average or above. The “equal” cluster was associated with more positive reports of martial quality and family emotional expressivity. Clusters in which one parent reported less coparenting were associated with lower marital quality.     

Benefits of caseload midwifery to prevent fetal alcohol spectrum disorder: A discussion paper

Background

Exposure to alcohol prenatally can result in a child being diagnosed with fetal alcohol spectrum disorder. Affected infants experience lifelong impairments that can involve, physical, cognitive, behavioural and emotional difficulties that impact on their functional capacity. Effective prevention of fetal alcohol spectrum disorder is critically needed in Australia. Reduction in the prevalence of this disorder will only be possible if we prevent alcohol consumption during pregnancy.

Self-selection,earnings, and out-migration: A longitudinal study of immigrants to Germany

In this paper we examine the process of out-migration and investigate whether cross-sectional earnings assimilation results suffer from selection bias due to out-migration. Our 14 year longitudinal study reveals that emigrants are negatively selected with respect to occupational prestige and to stable full time employment. Our results show no selectivity with respect to human capital or gender. The likelihood of return migration is strongly determined by the range and nature of social attachments to Germany and origin countries. It is also the highest during the first five years since arrival, and grows higher toward retirement. Selective emigration, however, does not appear to distort cross-sectional estimates of earnings assimilation in a relevant way.All Correspondence to Douglas S. Massey. This study has been made possible through various research visits to DIW Berlin and IZA in Bonn. We are grateful for the access to the data, and many useful comments on various drafts by Klaus F. Zimmermann. Earlier drafts were presented at the annual conference of the Population Association of America in Atlanta, and research seminars at Princeton University and IZA, Bonn. We wish to thank many participants for stimulating discussions and useful comments. We have benefitted in making revisions from the comments of three anonymous referees. Responsible editor: Klaus F. Zimmermann.     

Improving child welfare performance: retrospective and prospective approaches

Some of the key outcome measures used in the first federal Child and Family Service Reviews rely on retrospective cohorts and exclude key portions of the population from the analysis. Most discussions of this issue have focused on the extent to which retrospective measurement is a valid basis on which to judge states' performance (Courtney, Needell, & Wulczyn, 2003). The analyses presented here suggest that in some instances the relative or comparative results of retrospective and prospective measurements exhibit few differences. On the other hand, the analyses also make clear that retrospective measurements have two serious deficiencies in relation to improving performance. First, they are likely to identify the wrong issues, and, second, even when they identify the correct issues they fail to provide information needed to improve performance. This article suggests some practical ways in which the information currently available to child welfare agencies can be used to correct these problems.     

Responses to birth trauma and prevalence of posttraumatic stress among Australian midwives

Background

Midwives frequently witness traumatic birth events. Little is known about responses to birth trauma and prevalence of posttraumatic stress among Australian midwives.