The effects of pre-IPO corporate activity on newly-public firms' growth

We investigate firms' pre-IPO corporate activity. We find that firms involved in extraordinary – i.e., beyond momentum – amounts of acquisitions, JVs, and alliances in the year leading up to their IPOs (1) are more likely to engage in post-IPO corporate activity; and (2) enter into their first post-IPO transaction twice as fast as other firms. Our results indicate that signaling via extraordinary corporate activity can have a significant effect on entrepreneurial firms’ growth. The implications are discussed.     

Micro‐Level Determinants of Remittances from Recent Migrants to Canada

Despite considerable interest in remittances to developing countries, the limited availability of large sample data has constrained aspects of our understanding of remitter behaviour. This paper utilizes data from Statistics Canada’s Longitudinal Survey of Immigrants to Canada (LSIC) to investigate how the demographic characteristics of recent immigrants influence their remittance levels shortly after their arrival in Canada. We identify several hypotheses and use a Tobit model to estimate the impact of individual characteristics on remittance choices. As expected, remittances rise with incomes, age and falls with the size of the migrating family, housing costs and education. We also estimate how remittances are affected by other characteristics, such as gender, marital status, religion, region of origin, region of settlement and attitudes towards home and host communities.     

Ethnic appeal: A self-defense tool for Kenyan politicians

So far, analyses of apologetic rhetoric strategies as used by individuals or organizations to respond to accusations of wrongdoing have been concentrated in the West. An analysis of political apologia in an African setting – in this case Kenya – reveals that while Kenyan politicians have used denial, victimization, mortification, and counterattacking among other self-defense strategies, one particular strategy emerges as the most commonly used by Kenyan politicians – ethnic appeal.     

Models for the analysis of C-reactive protein in statin trials

Elevation in C-reactive protein (CRP) is an independent risk factor for cardiovascular disease progression and levels are reduced by treatment with statins. However, on-treatment CRP, given baseline CRP and treatment, is not normally distributed and outliers exist even when transformations are applied. Although classical non-parametric tests address some of these issues, they do not enable straightforward inclusion of covariate information. The aims of this study were to produce a model that improved efficiency and accuracy of analysis of CRP data. Estimation of treatment effects and identification of outliers were addressed using controlled trials of rosuvastatin. The robust statistical technique of MM-estimation was used to fit models to data in the presence of outliers and was compared with least-squares estimation. To develop the model, appropriate transformations of the response and baseline variables were selected. The model was used to investigate how on-treatment CRP related to baseline CRP and estimated treatment effects with rosuvastatin. On comparing least-squares and MM-estimation, MM-estimation was superior to least-squares estimation in that parameter estimates were more efficient and outliers were clearly identified. Relative reductions in CRP were higher at higher baseline CRP levels. There was also evidence of a dose-response relationship between CRP reductions from baseline and rosuvastatin. Several large outliers were identified, although there did not appear to be any relationships between the incidence of outliers and treatments. In conclusion, using robust estimation to model CRP data is superior to least-squares estimation and non-parametric tests in terms of efficiency, outlier identification and the ability to include covariate information.     

Understanding perceptions of substance use education in social work: an analysis of survey responses from MSW program leaders

ABSTRACT

This article details the findings of a series of analyses regarding how the institutional leaders of Master of Social Work Programs (MSW) in the United States form their perceptions on the role and implementation of substance use concepts in social work education. Five statistical tests were performed on data collected from a 2017 substance use education (SUE) survey of MSW program leaders, and the analyses were used to explore how program leaders form their perceptions on: the importance of SUE to social work, the need for regulatory measures for SUE in social work, the SUE needs of individual MSW programs, the implementation of substance use course content, and graduating students’ substance use intervention capacities. Significant findings from the analyses showed that: the amount of foundational course emphasis on clinical SUE within individual programs is a significant predictor of program leader perceptions on students’ clinical substance use intervention capacities; different categories of substance use intervention preparedness have interconnected effects among domains of preparedness; and perceptions on the importance of SUE to social work have a significant impact on program leaders’ opinions regarding regulatory measures for SUE in social work.     

Statistical considerations associated with a comprehensive regulatory framework to address the unmet need for new antibacterial therapies

At present, there are situations in antibiotic drug development where the low number of enrollable patients with key problem pathogens makes it impossible to conduct fully powered non‐inferiority trials in the traditional way. Recent regulatory changes have begun to address this situation. In parallel, statistical issues regarding the application of alternative techniques, balancing the unmet need with the level of certainty in the approval process, and the use of additional sources of data are critical areas to increase development feasibility. Although such approaches increase uncertainty compared with a traditional development program, this will be necessary to allow new agents to be made available. Identification of these risks and explicit discussion around requirements in these areas should help clarify the situation, and hence, the feasibility of developing drugs to treat the most concerning pathogens before the unmet need becomes even more acute than at present. Copyright © 2014 John Wiley & Sons, Ltd.     

An investigation of the attention effects of venture capitalist backing on entrepreneurial firms

In this paper, we predict that venture capital (VC) backed initial public offerings (IPOs) will attract more attention than non-VC-backed IPOs, as VCs offer important signals to investors searching for information about entrepreneurial firms. We use a measure developed by Google (i.e., Trends) to capture the spikes in investors' attention experienced by firms in the time period surrounding their IPOs. Our results demonstrate that firms backed by VCs enjoy a far greater spike in attention than their counterparts. Furthermore, we find that firms with more prominent VCs, a larger number of VCs, and VCs situated at farther geographic distances exhibit significantly greater spikes in investors’ attention during the week of their IPO. Combined, the findings show a clear demarcation between entrepreneurial firms with or without VC backing, they bring to the fore new upshots stemming from the relationship between VCs and entrepreneurial firms, and they raise new potential questions on this relationship and beyond.     

AIDS and Social Work: Curricula Development in an Epidemic

Abstract

The need for skilled social workers in the AIDS epidemic cannot be ignored. New graduates and current social work students need to understand complex biopsychosocial, ethical and political issues in order to provide effective, timely and appropriate services to persons with AIDS and their significant others. This article describes a framework for developing comprehensive, versatile curricula which adequately prepare students to confront the unprecedented challenges created by this epidemic.