Exploring Moderating Effects of Violent Conflict on Household Welfare in a Resource-Constrained Environment: The Case of Sub-Saharan Africa

ABSTRACT

This study examines correlates of household welfare in three countries of sub-Saharan Africa, Tanzania, Zambia, and Zimbabwe, using data from the 2004 wave of the Afrobarometer survey. We also assess the role violent conflict might play in influencing this relationship. This subject has become especially relevant today in sub-Saharan Africa, given the growing disfranchisement of vulnerable individuals and households and increased incidents of violent conflict. Insight into the relationship between violent conflict and household welfare may be an important step in understanding why many sub-Saharan African countries have difficulties in stimulating economic growth and welfare. The study sample includes 3,525 respondents. Study findings provide partial support for the hypothesized relationship. Specifically, poverty reduction initiatives and informal assistance are associated with reduced hardship, while violent conflict is related to an increase in hardship. We also note that certain individual and household characteristics are linked to hardship. Practice and policy implications are suggested.     

Corporate governance and the market reaction to stock repurchase announcement

This paper investigates the effect of corporate governance on market reaction around of a stock repurchase announcement. We argue that corporate governance affects the ability of a stock repurchase to alleviate agency costs related to free cash flows, and the credibility of the undervaluation signal sent by the announcement of buyback programs. We find a higher 3-day cumulative abnormal return to programs announced by firms with better corporate governance practices than those with bad governance (1.6% and 0.85% respectively), and the market reaction is significantly higher following the successive scandals in year 2001 (Enron, Arthur Anderson, WorldCom??) and the resulting Sarbanes?COxley Act of 2002. Further investigations indicate that firms with a lower Free Cash Flow to Asset ratio have a higher market reaction, which is consistent with the information signaling hypothesis, and this is more significant in firms with good governance practices, and following post Sarbanes?COxley Act.     

The relationship between circulating testosterone and inflammatory cytokines in men

Testosterone is the predominant gonadal androgen in men. Low testosterone levels are found to be associated with an increased in metabolic risk and systematic inflammation. Since adipose tissue is a source of inflammatory cytokines, testosterone may regulate inflammation by acting on adipose tissue. This review aimed to explore the role of testosterone in inflammation and its mechanism of action. Both animal studies and human studies showed that (1) testosterone deficiency was associated with an increase in pro-inflammatory cytokines; (2) testosterone substitution reduced pro-inflammatory cytokines. The suppression of inflammation by testosterone were observed in patients with coronary artery disease, prostate cancer and diabetes mellitus through the increase in anti-inflammatory cytokines (IL-10) and the decrease in pro-inflammatory cytokines (IL-1β, IL-6, and TNF-α). Despite these, some studies also reported a non-significant relationship. In conclusion, testosterone may possess anti-inflammatory properties but its magnitude is debatable. More evidence is needed to validate the use of testosterone as a marker and in the management of chronic inflammatory diseases.     

Flow diagram analysis of electrical fatalities in construction industry

The current study reanalyzed 250 electrical fatalities in the construction industry from 1996 to 2002 into seven patterns based on source of electricity (power line, energized equipment, improperly installed or damaged equipment), direct contact or indirect contact through some source of injury (boom vehicle, metal bar or pipe, and other conductive material). Each fatality was coded in terms of age, company size, experience, performing tasks, source of injury, accident cause and hazard pattern. The Chi-square Automatic Interaction Detector (CHAID) was applied to the coded data of the fatal electrocution to find a subset of predictors that might derive meaningful classifications or accidents scenarios. A series of Flow Diagrams was constructed based on CHAID result to illustrate the flow of electricity travelling from electrical source to human body. Each of the flow diagrams can be directly linked with feasible prevention strategies by cutting the flow of electricity.     

Optimal and Robust Designs for Estimating the Concentration Curve and the AUC

The problem of interest is to estimate the concentration curve and the area under the curve (AUC) by estimating the parameters of a linear regression model with an autocorrelated error process. We introduce a simple linear unbiased estimator of the concentration curve and the AUC. We show that this estimator constructed from a sampling design generated by an appropriate density is asymptotically optimal in the sense that it has exactly the same asymptotic performance as the best linear unbiased estimator. Moreover, we prove that the optimal design is robust with respect to a minimax criterion. When repeated observations are available, this estimator is consistent and has an asymptotic normal distribution. Finally, a simulated annealing algorithm is applied to a pharmacokinetic model with correlated errors.