The generalized log-gamma mixture model with covariates: local influence and residual analysis

In a sample of censored survival times, the presence of an immune proportion of individuals who are not subject to death, failure or relapse, may be indicated by a relatively high number of individuals with large censored survival times. In this paper the generalized log-gamma model is modified for the possibility that long-term survivors may be present in the data. The model attempts to separately estimate the effects of covariates on the surviving fraction, that is, the proportion of the population for which the event never occurs. The logistic function is used for the regression model of the surviving fraction. Inference for the model parameters is considered via maximum likelihood. Some influence methods, such as the local influence and total local influence of an individual are derived, analyzed and discussed. Finally, a data set from the medical area is analyzed under the log-gamma generalized mixture model. A residual analysis is performed in order to select an appropriate model. The authors would like to thank the editor and referees for their helpful comments. This work was supported by CNPq, Brazil.     

DOES TELEVISION ENTRY DECREASE THE NUMBER OF MOVIE THEATERS?

This paper empirically examines the impact of competition in the television (TV) industry on the number of movie theaters, their attendance, and their box office revenues. Studies of firm entry usually focus on the impact of regulation on economic outcomes within an industry, thereby neglecting its impact on neighboring industries. Using changes in regulation in the Spanish local TV station industry, we estimate the impact of TV entry on the movie theater industry between 1993 and 2005. Our findings show that local TV entry decreased the number of theaters and screens in a province, as well as movie attendance and box office revenues. (JEL L11, L43, L82)     

Total testosterone levels are correlated to metabolic syndrome components

Introduction: Metabolic syndrome (MetS) is a constellation of interrelated risk factors of metabolic origin. Some studies suggest a possible link between low total testosterone (TT) levels and the presence of MetS.

Aim: To analyze the strength and independence of associations between TT and MetS components in non-diabetic men.

Methods: In this cross-sectional study, 143 non-diabetic men older than 40 were analyzed.

Main outcomes measure: Blood samples were collected to evaluate metabolic profile and TT levels. MetS was defined as the presence of three or more of the following characteristics: fasting blood glucose levels?≥?100?mg/dL, triglyceride?≥?150?mg/dL, HDL-c??102?cm.

Results: Mean age of the study population was 61.5?±?8.61 years old. MetS was present in 47.9% of the individuals. Thirty-four men had low TT and MetS was observed in 23 (70%) against 50 (46%) in those with normal TT (≥?300?ng/dL) (OR 4.94, p?p?=?0.03) and HDL-c (Beta: 0.19; p?=?0.04) remained significantly correlated with TT levels.

Conclusions: Low TT levels were associated with MetS diagnosis. Abdominal obesity was the MetS component independently correlated to low TT levels.     

From non-cultural to intercultural principles: a proposal for English classes in Brazilian public schools

This article focuses on English language teaching in Brazilian public schools, based on experiences in primary and secondary education, as well as in Teaching Practicum courses at a university. Through these experiences, the article critiques the overemphasis on grammar and the lack of an intercultural approach. The author engages the reader with a theoretical discussion regarding the connection between language and culture and the possibilities for the implementation of intercultural principles. The article closes with some reflections on what intercultural language learning looks like in practice.     

Boom and bust: housing equity withdrawal and consumption decisions and their impacts on household wealth

The authors examine whether the surge in housing refinance and equity withdrawal generated by the housing boom disproportionately affected older households in terms of decisions on whether to refinance, whether to withdraw equity, and how much to withdraw, and how in turn these decisions affected their household wealth. Using the Federal Reserve's Survey of Consumer Finances, the authors found the highest rates of refinancing and cashing out equity among older (although not necessarily the oldest) households. The authors also found that appreciation in house value, being a baby boomer, and having higher household income were the factors that most increased the probability of refinancing and withdrawing equity. Amounts cashed out were higher among older than among younger households. Ordinary least squares (OLS) estimates showed that amounts withdrawn were increased by price appreciation, financial assets, and income, along with being a "pre-boomer" or "early boomer." Older cohorts displayed larger wealth effects than younger ones, but their withdrawn equity was a smaller percentage of total net worth. A relatively small percentage of respondents' dollars was used for consumption, and most dollars were used for home improvement, other investment, or debt repayment. However, massive equity withdrawal and the subsequent collapse of housing prices have caused housing leverage to soar, putting some homeowners "underwater" and jeopardizing others' retirement preparedness. The ensuing housing finance crisis raises numerous policy issues, from reform of mortgage underwriting, securitization, servicing, and foreclosure procedures, to potential limitations on borrowing against unrealized housing equity gains, to enhanced government transfers for distressed older homeowners, to local and state revenue policy changes.     

The Structured Interview of Family Assessment Risk: Convergent Validity,Inter-rater Reliability and Structural Relations

The quality of parenting, composition and socio-economic status are family risk or protective factors on juvenile delinquency, however, there is not an instrument to help psychologists and social workers to specifically assess the adolescent offender’s family. This study set out to accomplish an additional validation study of the structured interview of family assessment risk (SIFAR), a structured professional judgment tool for the assessment of family risk and protective factors of juvenile delinquents. The statistical analyses included inter-rater reliability, convergent validity with YLS/CMI, the Partial Least Squares approach to structural equation modeling and receiving operator characteristics (ROC) analysis. A sample of 130 male adolescent delinquents detained in Portuguese forensic facilities and their parents, were paired analyzed. The YLS/CMI was used to analyze the convergent validity with SIFAR. SIFAR shows a strong correlation with the YLS/CMI family context, moderate to high values of inter-rater reliability; SIFAR factors show that they are predictive determinants of the Moderate Four risk factors. ROC analysis shows adequate accuracy power. The findings show that SIFAR it is useful as an additional assessment tool for structured risk assessment instruments since it allows understanding the vulnerabilities and strengths of the delinquent’s family.     

Determinants of voluntary executive stock option disclosure in Brazil

This study investigates whether the governance attributes of Brazilian companies are associated with voluntary executive stock option (ESO) disclosure. Results show that Brazilian companies voluntarily disclose very little about their ESO plans, and that board size, presence of a compensation committee, and auditing by a Big 4 firm are significantly related to the degree of voluntary ESO disclosure. We also show that family-controlled companies in Brazil are associated with low voluntary ESO disclosure. Results are robust to a number of specification tests, dependent and explanatory variable measurements, and sample composition. This study has professional and regulatory implications for Brazil and other emerging capital markets. The results underscore the need for stricter rules for executive compensation reporting in Brazil, and they invite policy makers and regulators in emerging markets to consider the effects of company-level governance factors on disclosure incentives.     

Foreign ownership in Latin American microfinance institutions: evidence and impact

Based on a unique dataset covering 84 institutions operating in 15 countries this paper provides evidence as to the impact of foreign ownership on microfinance sustainability and outreach in Latin America. Overall, we find that foreign-owned microfinance institutions have more borrowers than domestic-owned institutions. This suggests that foreign investors, mainly development finance institutions and other investors with close ties to the microfinance industry, exert governance in line with their stated policy goal: expanding financial inclusion among microentrepreneurs and poor households. In contrast to this, majority ownership of foreign investors neither provides a strong push towards the sustainability of microfinance institutions nor does it lead to “mission drift”, i.e. microfinance institutions issuing larger loans to comparatively wealthier clients.     

Personality and Subjective Well-Being: What Hides Behind Global Analyses?

The relation between personality and subjective well-being (SWB) remains involved in a considerable ambiguity and the numerous studies conducted have neglected an approach at a more detailed level of analysis. This study explores the idea that neuroticism, extraversion and conscientiousness facets predict differentially each SWB component. A battery of self-report questionnaires was used to assess personality and SWB in 398 teachers of primary and high schools. Findings of a cross-sectional study showed that neuroticism, extraversion and conscientiousness facets contributed to significantly explain the variance in positive affect, negative affect and life satisfaction. Moreover, these facets predicted differentially each of the three SWB components. At same time, this study corroborates two important premises: the specificity of facets as discrete traits and the independence of the three SWB components.