Obesity and motor vehicle deaths: a panel-data analysis

2020 ◽  
Vol 47 (6) ◽  
pp. 1233-1246
Author(s):  
Mary J. Becker ◽  
Lindsay N. Calkins ◽  
Walter Simmons ◽  
Andrew M. Welki ◽  
Thomas J. Zlatoper
Keyword(s):  
Death Rate ◽  
Motor Vehicle ◽  
Panel Data Analysis ◽  
Seat Belt ◽  
Negative Relationship ◽  
State Level ◽  
Highway Safety ◽  
Significant Positive Association ◽  
Content Type ◽  
The Impact

PurposeThis paper analyzes the impact of obesity on the probability of a motor vehicle fatality (highway death rate) and on its component probabilities: the probability of a fatality, given a crash (vulnerability rate) and the probability of a crash (crash rate).Design/methodology/approachUsing state-level data for 1995–2015, the paper estimates models explaining all three rates. Explanatory factors include obesity and a representative set of potential determinants.FindingsResults indicate that obesity has a statistically significant positive relationship with the highway death rate and the crash rate. Also having a statistically significant positive association with at least one of the three rates are the proportions of young and old drivers, alcohol consumption, the ratio of rural to urban vehicle miles and temperature. Factors with a statistically significant negative relationship with at least one of the rates include primary seat belt laws and precipitation. In 2016, a total of 928 traffic fatalities could have been avoided if obesity rates decreased by one percentage point.Practical implicationsSeat belts and crash dummies should be better designed to fit and represent those with higher BMIs, and education efforts to increase seat belt use should be supplemented with information about the adverse impact of obesity on highway safety.Originality/valueThis paper uses 21 years of state-level information, including socio-economic and regulation data, and contributes to the existing research on the relationship between obesity and highway safety.

scholarly journals An Analysis of Illicit Drug Use and Motor Vehicle Fatalities Using Contiguous State-Level Data

2017 ◽  
Author(s):  
Andrew M. Welki ◽  
Thomas J. Zlatoper
Keyword(s):  
Drug Use ◽  
Death Rate ◽  
Illicit Drug ◽  
Motor Vehicle ◽  
Seat Belt ◽  
Age Groups ◽  
State Level ◽  
Illicit Drug Use ◽  
Older Drivers ◽  
The Impact

This paper analyzes the influence of illicit drug use on highway fatal outcomes by estimating regression models using data for the 48 contiguous U.S. states for the years 2009 and 2010. The models include a representative, but not exhaustive, collection of roadway fatality determinants. The impact of illicit drug usage on the motor vehicle death rate differs across age groups. There are statistically significant life-taking effects from marijuana use by the very youngest drivers. Comparable effects from the usage of cocaine and nonmedical pain relievers occur among older drivers. Negatively associated with the highway death rate and statistically significant are real per capita income and seat belt use. Statistically significant positive relationships with the rate are found for the ratio of rural to urban driving, temperature, speed limit, the percentage of older drivers, and cell phone usage. The paper provides information to policy makers at a time when state-level drug laws are changing rapidly. Evidence reported here on how drug use affects highway fatal outcomes is relevant to that discussion.

Do discretionary accruals affect firms’ corporate dividend policy? Evidence from France

2018 ◽  
Vol 16 (2) ◽  
pp. 333-347 ◽  
Author(s):  
Anis Ben Amar ◽  
Olfa Ben Salah ◽  
Anis Jarboui
Keyword(s):  
Earnings Management ◽  
Dividend Policy ◽  
Positive Impact ◽  
Panel Data Analysis ◽  
Negative Relationship ◽  
Discretionary Accruals ◽  
Additional Measure ◽  
Ample Evidence ◽  
Content Type ◽  
The Impact

Purpose In financial literature, dividend payout decisions are determined by factors such as debt, liquidity, profitability, size and risk. The purpose of this paper is to identify the effect of earnings management measured by discretionary accruals based on Dechow et al.’s (1995) model on dividend policy. Design/methodology/approach This research will use panel data analysis to test the effect of earnings management on dividend policy. The authors selected 280, French non-financial companies, listed on the CAC All Tradable index for the 2008-2015 period. Findings Using a sample of 2108 firm-year observations, the authors find a positive impact of earnings management on dividend policies of firms. Besides, there is a positive/negative relationship between the size of the firm and the dividend policy. Moreover, this paper has dealt with some factors such as debt, the risk of the firm and liquidity which may affect the corporate dividend policy. The results are robust as the authors adopted an additional measure of dividend policy. Practical implications The findings may have important implications for analysts, investors, regulators and academics. First, the study shows that earnings management is a common practice in the French context and constitutes a major objective of dividend policy. Better still, identifying the other variables that influence the dividend policy provides a clearer understanding of dividend policy for investors, analysts and academics alike. Second, the study provides ample evidence of agency problems between various partners in French capital markets, highlighting the necessity to establish new corporate governance mechanisms. This is highly relevant for policymakers in their quest for a better financial market. Originality/value This study extends the literature on the impact of dividend thresholds on earnings management by showing that firms run earnings to inform the market that the company can distribute dividends.

Integrated reports, external assurance and financial performance

2019 ◽  
Vol 11 (2) ◽  
pp. 317-350 ◽  
Author(s):  
Orhan Akisik ◽  
Graham Gal
Keyword(s):  
Financial Performance ◽  
North American ◽  
Small Sample Size ◽  
Panel Data Analysis ◽  
Small Sample ◽  
Global Reporting Initiative ◽  
Significant Positive Association ◽  
Content Type ◽  
Corporate Websites ◽  
The Impact

Purpose The purpose of this paper is to examine the relationship between integrated reports, external assurance and financial performance for North American firms between 2011 and 2016. Design/methodology/approach Corporate websites were examined for disclosures which included both financial and non-financial information. Compustat North America and Global Reporting Initiative (GRI) websites provided additional data for the analysis. Findings Using a panel data analysis, the results provide evidence that there is a significant positive association between integrated reports and multiple measures of financial performance. Moreover, this positive effect is enhanced when integrated reports are assured by accounting firms. Research limitations/implications There are relatively a small number of firms that do this kind of reporting. A major limitation of the study is the small sample size. Practical implications As stakeholders find information in integrated reports relevant, there needs to be standardization on their content and level of assurance. Standard setters and regulators should be involved in setting these standards and assurance guidelines. Social implications Although it is clear that there is a cost to firms which produce integrated reports, the benefits to society may outweigh these costs. This may go beyond the benefits to shareholders as they make investment decisions. Originality/value According to the knowledge of the authors, this is the first study that examines the impact of integrated reports and external assurance on financial performance for North American firms.

The effect of components of tax saving on tax disclosure

2019 ◽  
Vol 31 (4) ◽  
pp. 574-601
Author(s):  
Mahfoudh Hussein Mgammal
Keyword(s):  
Practical Knowledge ◽  
Stock Exchange ◽  
Negative Relationship ◽  
Positive Association ◽  
Effective Tax Rate ◽  
Significant Positive Association ◽  
Data Set ◽  
Content Type ◽  
Academic Field ◽  
The Impact

Purpose The purpose of this study is to examine the impact of tax planning (TP), which measured by the component of tax saving (TS), namely, permanent differences (PDs), temporary differences (TDF), foreign tax rates (FTRs) differentials and tax losses (TLOS) on tax disclosure (TD). Design/methodology/approach This study uses panel data set from sample consisted of 286 non-financial listed companies in the main market of Bursa Malaysia (formerly known as Kuala Lumpur stock exchange) for three years 2010-2012. The empirical understanding of TD depends on publicly source of data in the financial statement, characterized in the aggregated note of tax expenses. TD was measured using modified effective tax rate reconciling items, as it is appropriate in the Malaysian environment. The paper uses multivariate statistical analyses on this sample. Findings The empirical results of the multivariate regressions indicated that TD exhibits significant positive association with the TLOS component of TS but has significant negative relationship related to the PDs component of TS and TDFs component of TS. Research limitations/implications This study extends the prior-related literature by examining the relation between TD and component of TS. This study depends on both the signaling theory and the Scholes–Wolfson framework. These are the main theories concerned with TD and TP (TSs), respectively. Therefore, from a theoretical side, the authors adds to the current theories by verifying that users are the party influenced whether positively or negatively, by the extent of TD or the extent of activities of TP through Malaysian organizations. Practical implications The evidence found by this study has important policy and practical knowledge implications for a minimum of three parties, namely, authorities, researchers in academic field and decision-makers and firm managers. The findings can provide them some relevant insights on the importance of TS actions from companies’ perspective and contribute to the discussion of who verifies and deduces from TD directed by companies. Originality/value This study is regarded as the first attempt to examine the impact of the component of TS, namely: PDs, TDFs, FTRs differentials and TLOS on TD in a developing nation such as Malaysia. In spite of this paper focuses on a single country, it contributes significant insights to the debate about TD.

The impact of labor market freedom on state-level in-migration in the US

2019 ◽  
Vol 9 (1) ◽  
pp. 40-52
Author(s):  
Richard J. Cebula ◽  
Christopher M. Duquette ◽  
G. Jason Jolley
Keyword(s):  
Labor Market ◽  
Panel Data Analysis ◽  
Generalized Method Of Moments ◽  
State Level ◽  
Dynamic Panel Data ◽  
Content Type ◽  
The Great Recession ◽  
Percentage Point Increase ◽  
The Us ◽  
The Impact

Purpose Influences on the pattern of internal migration in the US, including economic factors, quality-of-life factors and public policy variables have been extensively studied by regional scientists since the early 1970s. Interestingly, a small number of studies also address the effects of economic freedom on migration. The purpose of this paper is to add to the migration literature by examining the impact of labor market freedom on both gross and net state in-migration over the study period 2008–2016. Design/methodology/approach This study uses dynamic panel data analysis to investigate the impact of labor market freedom on both gross and net state in-migration over the study period 2008–2016. Findings The panel generalized method of moments analysis reveals that overall labor market freedom exercised a positive and statistically significant impact on both measures of state in-migration over the study period. The study finds a 1 percentage point increase in the overall labor market freedom index results in a 2.8 percent increase in the gross in-migration rate. Research limitations/implications The findings imply states interested in attracting migrants and stimulating economic growth should pursue policies consistent with increased labor freedom. Originality/value The emphasis in the present study is on the impact of labor market freedom on state-level in-migration patterns, both gross and net, over a contemporary time period that includes both the Great Recession and subsequent recovering.

scholarly journals The Impact of Driving Knowledge on Motor Vehicle Fatalities

2016 ◽  
Author(s):  
Walter O. Simmons ◽  
Andrew M. Welki ◽  
Thomas J. Zlatoper
Keyword(s):  
Motor Vehicle ◽  
Linear Trend ◽  
Seat Belt ◽  
State Level ◽  
Young Drivers ◽  
Level Data ◽  
Life Saving ◽  
Significant Life ◽  
Saving Effect ◽  
The Impact

This paper analyzes the influence of driving knowledge on highway safety by estimating regression models on U.S. state-level data over six years (2005 through 2010). The models incorporate a representative set of motor vehicle fatality determinants. Driving knowledge—as measured by performance on the GMAC Insurance National Drivers Test—has a statistically significant life-saving effect. Negatively related to the motor vehicle death rate and statistically significant are: real per capita income, precipitation, seat belt use, and a linear trend. Statistically significant positive associations with the rate are found for: the ratio of rural to urban driving, temperature, the percentage of young drivers, the percentage of old drivers, and alcohol consumption.

Farm wages and public works

2015 ◽  
Vol 8 (1) ◽  
pp. 19-72 ◽  
Author(s):  
Kanika Mahajan
Keyword(s):  
Theoretical Model ◽  
Wage Rate ◽  
Fixed Effects ◽  
Positive Impact ◽  
Wage Growth ◽  
State Level ◽  
Random Allocation ◽  
Farm Sector ◽  
Content Type ◽  
The Impact

Purpose – The purpose of this paper is to examine the impact of National Rural Employment Guarantee Scheme (NREGS) on farm sector wage rate. This identification strategy rests on the assumption that all districts across India would have had similar wage trends in the absence of the program. The author argues that this assumption may not be true due to non-random allocation of districts to the program’s three phases across states and different economic growth paths of the states post the implementation of NREGS. Design/methodology/approach – To control for overall macroeconomic trends, the author allows for state-level time fixed effects to capture the differences in growth trajectories across districts due to changing economic landscape in the parent-state over time. The author also estimates the expected farm sector wage growth due to the increased public work employment provision using a theoretical model. Findings – The results, contrary to the existing studies, do not find support for a significantly positive impact of NREGS treatment on private cultivation wage rate. The theoretical model also shows that an increase in public employment work days explains very little of the total growth in cultivation wage post 2004. Originality/value – This paper looks specifically at farm sector wage growth and the possible impact of NREGS on it, accounting for state specific factors in shaping farm wages. Theoretical estimates are presented to overcome econometric limitations.

The impact of labor freedom on geographic cost of living differentials

2017 ◽  
Vol 6 (3) ◽  
pp. 385-395
Author(s):  
Richard Cebula ◽  
James E. Payne ◽  
Donnie Horner ◽  
Robert Boylan
Keyword(s):  
Labor Market ◽  
State Level ◽  
The State ◽  
Annual Data ◽  
Significant Finding ◽  
Cost Of Living ◽  
Content Type ◽  
The Usa ◽  
The Cost ◽  
The Impact

Purpose The purpose of this paper is to examine the impact of labor market freedom on state-level cost of living differentials in the USA using cross-sectional data for 2016 after allowing for the impacts of economic and quality of life factors. Design/methodology/approach The study uses two-stage least squares estimation controlling for factors contributing to cost of living differences across states. Findings The results reveal that an increase in labor market freedom reduces the overall cost of living. Research limitations/implications The study can be extended using panel data and alternative measures of labor market freedom. Practical implications In general, the finding that less intrusive government and greater labor freedom are associated with a reduced cost of living should not be surprising. This is because less government intrusion and greater labor freedom both inherently allow markets to be more efficient in the rationalization of and interplay with forces of supply and demand. Social implications The findings of this and future related studies could prove very useful to policy makers and entrepreneurs, as well as small business owners and public corporations of all sizes – particularly those considering either location in, relocation to, or expansion into other markets within the USA. Furthermore, the potential benefits of the National Right-to-Work Law currently under consideration in Congress could add cost of living reductions to the debate. Originality/value The authors extend the literature on cost of living differentials by investigating whether higher amounts of state-level labor market freedom act to reduce the states’ cost of living using the most recent annual data available (2016). That labor freedom has a systemic efficiency impact on the state-level cost of living is a significant finding. In our opinion, it is likely that labor market freedom is increasing the efficiency of labor market transactions in the production and distribution of goods and services, and acts to reduce the cost of living in states. In addition, unlike previous related studies, the authors investigate the impact of not only overall labor market freedom on the state-level cost of living, but also how the three sub-indices of labor market freedom, as identified and measured by Stansel et al. (2014, 2015), impact the cost of living state by state.

Do corporate diversification and earnings management practices affect capital structure?

2015 ◽  
Vol 7 (4) ◽  
pp. 360-378 ◽  
Author(s):  
Ranjitha Ajay ◽  
R Madhumathi
Keyword(s):  
Capital Structure ◽  
Earnings Management ◽  
Management Practices ◽  
Negative Relationship ◽  
Corporate Diversification ◽  
Content Type ◽  
Diversification Strategies ◽  
Market Product ◽  
Diversified Firms ◽  
The Impact

Purpose – The purpose of this paper is to empirically examine the impact of earnings management on capital structure across firm diversification strategies. Design/methodology/approach – The study focuses on firms operating in the manufacturing sector (diversified and focused). Panel data methodology compares diversification strategies and identifies the impact of diversification strategy with earnings management practices on capital structure decision. Findings – International and product diversified firms have lower levels of leverage than focused firms in their capital structure. Asset-based earnings management is positive for diversified (market/product) firms. Earnings management using discretionary expenditure (project based) is found to be higher for market diversified but product-focused firms. Earning smoothing method is found to be significant for focused firms and shows a negative relationship with capital structure. Originality/value – This study offers an insight into the relationship between corporate diversification, earnings management and capital structure decisions of manufacturing firms. The results provide an important contribution to accounting and strategy literature. A distinction is made between market- and product-diversified firms and influence of earnings management practices (asset-based, project-based and earnings smoothing (ESM)) on capital structure decisions. Diversified firms (market/product) tend to have lower levels of leverage than focused firms and earnings management practices within firm groups significantly influence the capital structure decisions.

Towards a more ethical market: the impact of ESG rating on corporate financial performance

2019 ◽  
Vol 15 (1) ◽  
pp. 11-27 ◽  
Author(s):  
Giovanni Landi ◽  
Mauro Sciarelli
Keyword(s):  
Data Analysis ◽  
Corporate Social Performance ◽  
Stock Exchange ◽  
Social Performance ◽  
Panel Data Analysis ◽  
Abnormal Returns ◽  
Socially Responsible ◽  
Content Type ◽  
Corporate Social ◽  
The Impact

Purpose This paper fits in a research field dealing with the impact of Corporate Ethics Assessment on Financial Performance. The authors argue how environmental, social and governance (ESG) paradigm, meant to measure corporate social performance by rating issuance, can impact on abnormal returns of Italian firms listed on Financial Times Stock Exchange Milano Indice di Borsa (FTSE MIB) Index, developing a panel data analysis which runs from 2007 to 2015. Design/methodology/approach This study aims at exploring whether socially responsible investors outperform an excess market return on Italian Stock Exchange because of their investment behavior, testing statistically the relationship between the yearly ESG assessment issued by Standard Ethics Agency on FTSE MIB’s companies and their abnormal returns. To verify the impact of an ESG Rating on a company’s abnormal return, the authors developed a panel data analysis through a Fixed Effects Model. They measured abnormal returns via Fama–French approach, running a yearly Jensen’s Performance Index for each company under investigation. Findings The empirical results denote in Italy both a growing interest to corporate social responsibility (CSR) and sustainability by managers over the past decade, as well as an improving quality in ESG assessments because of a reliable corporate disclosure. Thus, despite investors have been applying ESG criteria in their stock – picking operations, the authors found a not positive and statistically significant impact in terms of market premium, when they have been undertaking a socially responsible investment (SRI). Practical implications The findings described above show that ethics is not yet a reliable fundraising tool for Italian-listed companies, despite SRIs having a positive growth rate over past decade. Investors seem to be not pricing CSR on Stock Exchange Market; therefore, listed companies cannot be rewarded with a premium price because of their highly stakeholder oriented behavior. Originality/value This paper explores, for the first time in Italy, when market extra-returns (if any) are related to corporate social performance and how managers leverage ethics to build capital added value.

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