Beta estimation in the market model: skewness and leptokurtosis

Leptokurtosis and skewness characterize the distributions of the returns for many financial instruments traded in security markets. These departures from normality can adversely affect the efficiency of least squares estimates of the β's in the single index or market model. The proposed new partially adaptive estimation techniques accommodate skewed and fat tailed distributions. The empirical investigation, which is the first application of this procedure in regression models, reveals that both skewness and kurtosis can affect β estimates.     

Splice plots for generalized linear models

ABSTRACT

We develop splice plots as a diagnostic tool for parametric generalized linear models. Splice plots use the independence of the outcome and explanatory measures given the regression function. Plotting differences between the estimated parametric regression function and non-parametric estimates of the regression function computed in small neighborhoods of the fitted values from the parametric model can be used to assess model fit.     

A framework for comparing social protection in developing and developed countries: The example of child benefits

Abstract   The article outlines a conceptual and theoretical framework for improved comparative analysis of publicly provided social protection in developing countries, drawing on the research tradition of the study of longstanding welfare democracies. An important element of the proposed institutional approach is the establishment of comparable qualitative and quantitative indicators for social protection. The empirical example of child benefits indicates that differences between developed and developing countries should not be exaggerated, and that the prevalence of child benefits in sub-Saharan African and Latin American countries today resembles the inter-war period (1919-1938) situation in developed regions.     

Correlates of Quality of Life in New Migrants to Hong Kong from Mainland China

The concept of Quality of life (QOL) has received considerable attention from different disciplines. The aim of this study was to identify what are the correlates of QOL among Chinese new immigrants in Hong Kong. Data were collected through a cross-sectional survey among 449 Hong Kong new immigrants from Mainland China. Bivariate and multiple regression analyses were performed to examine the association between immigrants’ QOL and their demographic characteristics, socio-economic factors, optimism, sense of control, perceived social support, perceived neighborhood disorder, collective efficacy, pre-migration planning, depressive symptoms and acculturation stress. Our findings demonstrated that depressive symptom is the most prominent factor in reducing immigrants’ level of QOL, perceived social support and optimism are the two important factors that enhance the QOL of these depressed immigrants. Our results indicate that preventive measures must be developed, and professional counseling and psychological support services must be provided to new immigrants in Hong Kong, especially those who have depressive symptoms.     

Book Review Developmental Theories of Crime and Delinquency,Series: Advances in Criminological Theory,Terence P. Thornberry,ed. New Brunswick,NJ, Transaction, 1996, 359 pp., $44.95, ISBN 1560001992

Sociological Practice -     

HIV/AIDS stigma manifestations during clinical interactions with MSM in Puerto Rico

HIV/AIDS stigma can have detrimental effects on physician/patient interactions when manifested by health professionals. Unfortunately, HIV/AIDS stigma is usually manifested in an intersectional manner with other preexisting stigmas, including stigma toward men who have sex with men (MSM). Therefore, our study aimed to examine the behavioral manifestations of HIV/AIDS stigma among physicians in training during simulated clinical interactions with MSM, and explore the interrelation between HIV/AIDS stigma attitudes and behaviors. We implemented an experimental design using Standardized Patient simulations with a sample of 100 physicians in training in Puerto Rico. Results show a significant difference in the two groups’ means (p?<?.001), with a higher number of stigma behaviors in the HIV MSM patient condition (M?=?6.39) than the common cold control condition (M?=?5.20). Results evidence that stigma manifestations toward MSM with HIV may continue to be an obstacle for public health in Puerto Rico, and that medical training to prevent stigma is still needed.     

A Social Capital Basis for Environmental Concern: Evidence from Northern New England*

This study, based on a random‐digit‐dialing telephone survey of adults in Maine, New Hampshire, and Vermont, uses ordinary least squares regression to examine a relatively neglected element in the sociological literature on environmental concern, namely, the influence of an individual's social capital on the formation of environmental attitudes. We argue that it is those individuals with a greater diversity of social connections who are most likely to be influenced by ecological perspectives grounded in conservation and environmental protection. Controlling for other theoretically relevant variables, we regress an index of environmental concern that gives special emphasis to environmental‐economic trade‐offs on our measures of relational and community social capital. While confirming much of the earlier work in this area, our model provides evidence that connections to other people play an important role in determining individual concern for the environment. Specifically, the number of respondents' “weak ties”—that is, not their closest relationships—and the average occupational status of respondents' social ties, in general, were both positively correlated with environmental concern. Additionally, one of our three measures of community social capital, the number of visits from friends over the past month, was statistically significant and negatively correlated with environmental concern.     

Efficacy of newer medications for lower urinary tract symptoms attributed to benign prostatic hyperplasia: a systematic review

We conducted a systematic review to evaluate the efficacy and adverse effects of newer drugs used to treat lower urinary tract symptoms (LUTS). The drugs were either Food and Drug Administration (FDA) approved for benign prostatic hyperplasia (BPH) or not FDA approved for BPH but have been evaluated for treatment of BPH since 2008. We searched bibliographic databases through September 2017. We included randomized controlled trials (RCTs) lasting one month or longer published in English. Outcomes of interest were LUTS assessed by validated measures. Efficacy was interpreted using established thresholds indicating clinical significance that identified the minimal detectable difference. Twenty-three unique, generally short-term, RCTs evaluating over 9000 participants were identified. Alpha-blocker silodosin and phosphodiesterase type 5 inhibitor tadalafil were more effective than placebo in improving LUTS (moderate strength evidence) but these drugs had more adverse effects, including abnormal ejaculation (silodosin). Anticholinergics were only effective versus placebo when combined with an alpha-blocker. Evidence was generally low strength or insufficient for other drugs. Evidence was insufficient to assess long-term efficacy, prevention of symptom progression, need for surgical intervention, or long-term adverse effects. Longer trials are needed to assess the effect of these therapies on response rates using established minimal detectable difference thresholds, disease progression, and harms.     

Hard to reach and easy to ignore: the drinking careers of young people not in education,employment or training

Young people's drinking in the UK remains a matter of medical, social, media and political concern. The notion of transition and drinking styles in the move from childhood to adulthood and from education to employment has been central to understanding young people's drinking behaviour, but little is known about how the drinking patterns of those not in education or employment, both men and women, develop over time. This paper reports on research which aimed to examine the current drinking habits and drinking careers of young people not in education employment and training who are traditionally described as hard to reach. In‐depth qualitative interviews were undertaken with 23 young people: 15 women and 8 men aged between 14 and 23. The findings are presented with respect to three stages of drinking: starting, continuing or increasing, and decreasing or stopping. The conclusions indicate that for the majority of these young people, alcohol is a significant factor in their lives and that peers, gender, time and place combine to structure both their current alcohol use and drinking career. The paper argues that an understanding of young people's drinking career development and current alcohol use will help target effective social work and multi‐agency intervention.