The Effects of Judicial Strength and Rule of Law on Portfolio Investment in the Developing World*

Objective. Applying existing theories relating to investment risk, this article examines the effects of judicial strength and adherence to the rule of law on portfolio investment in the developing world. We aim to demonstrate that countries with higher levels of judicial strength and rule of law are more able to attract portfolio investment because they provide greater protection of property rights and a better risk environment for investors. Methods. Using time‐series data for 79 developing countries for the period 1996–2005, we employ panel‐corrected standard errors multivariate regressions to demonstrate that higher levels of judicial strength and rule of law are associated with higher levels of portfolio investment. Results. We find that a one standard deviation increase in overall judicial strength and rule of law results in more than a 50 percent increase in portfolio investment. In separate analyses, we show that a one standard deviation increase in specific measures of judicial independence, impartial courts, and protection of property rights leads to increases in portfolio investment ranging from 27 percent to 184 percent. Conclusion. Judicial strength and adherence to the rule of law are important determinants of portfolio investment in the developing world.     

Do “Clicker” Educational Sessions Enhance the Effectiveness of a Social Norms Marketing Campaign?

Abstract

Objective: Social norms campaigns are a cost-effective way to reduce high-risk drinking on college campuses. This study compares effectiveness of a “standard” social norms media (SNM) campaign for those with and without exposure to additional educational sessions using audience response technology (“clickers”). Methods: American College Health Association's National College Health Assessment questions are used to evaluate actual and perceived use. Additional survey questions assess individual exposure to the interventions. Results: The authors find “clicker” technology to be more effective than social norms poster media alone in reducing misperceptions of normative alcohol use for those students who attended clicker sessions. Conclusion: Poster SNM campaigns may be most effective when supported by group “clicker” heath-related sessions.     

Perceptions of Benzodiazepine Dependence Among Women Age 65 and Older

A phenomenological study explored whether older women who are chronic benzodiazepine users identified themselves as dependent, how dependence was perceived, and how meanings and understandings shaped experiences of benzodiazepine use. Self-reported benzodiazepine dependence was associated with being unable to reduce use or a desire to discontinue use and reliance on benzodiazepines to remain comfortable and able to handle daily life. Themes included: (a) benzodiazepine dependence is similar to dependence to diabetes or blood pressure medications; (b) dependence is distinctive from addiction/abuse; (c) addiction/abuse is perceived as worse than dependence; and (d) concerns of addiction/abuse result in low-dose benzodiazepine use.     

Acculturative Stress and Mental Health Among Korean Adolescents in the United States

This study investigated Korean-American adolescents' stress related to their acculturation experiences and mental health. A total of 260 Korean-American adolescents from immigrant families (ages 12–18 years) participated in the study. The U.S. born group had a higher level of acculturative stress than the Korea-born group (t = 2.222; df = 258; p < .05). Males reported a higher level of self-esteem than females (t = ?2.112; df = 257; p < .05). Acculturative stress was positively correlated with depression (r = .299; p < .01) and negatively related to self-esteem (r = ?.292; p < .01). Self-esteem was negatively related to depression (r = ?.536; p < .01).     

Water Adherence Factors for Human Skin

On incidental dermal exposure to chemicals in water, a key exposure factor is the amount of water adhering to skin. Although soil adherence factors have been developed for risk assessment, measurements of water adherence on human skin have not been described. In the Environmental Protection Agency's (EPA's) dermal risk assessment guidance, dermal dose from environmental exposures is based upon the flux rate across the skin, which assumes that an unlimited amount of chemical is available for absorption. This assumption is applicable to certain exposure scenarios such as swimming and bathing. However, exposures to contaminated water frequently involve scenarios where the available chemical is limited by the amount of water adhering to the skin, for example, during accidental splashes. We conducted studies in human volunteers to investigate water adherence per unit area of skin after brief contact with water. In two sets of experiments, either water was applied with a micropipette to 10‐cm² areas of the lower leg, foot, and hand, or the foot and hand were briefly immersed in water. In males, using a micropipette, water adherence ranged from 1.93 (foot) to 7.13 μL/cm² (lower leg). In females, it ranged from 1.10 (lower leg) to 4.83 μL/cm² (hand). Hand and foot immersion resulted in relatively higher values of 6.89 and 5.17 μL/cm², respectively, in males, and 5.40 and 6.39 μL/cm² in females. Water adherence was affected by amount of body hair and type of exposure. Water adherence factors can be used to calculate the applied dose per unit area for exposures involving intermittent water contact.