Widowhood and health of elderly in India: examining the role of economic factors using structural equation modeling

Evidence on the association between widowhood and health is widely available in the literature. However, there is a dearth of analysis on the mechanism through which widowhood affects the health status of an individual, particularly in old age, specifically whether widowhood among the elderly affects their health through their economic conditions. This paper purports to establish both the direct and indirect effects of widowhood on self-reported health status among aged Indians. We examine the mediating effect of economic factors such as income, labor force participation, extent of economic independence and other economic factors in the relationship between widowhood and health status. Structural Equation Modeling (SEM) is employed to test specific hypotheses. We use unit level 60th round data for the year 2004 surveyed by the National Sample Survey Organization (NSSO). The results confirm that poor economic conditions have a mediating effect on the relationship between widowhood and health and, therefore, any policy to reduce the effect of widowhood on health must be based on economic factors.     

How Yoga-Based Practices Build Altruistic Behavior? Examining the Role of Subjective Vitality,Self-transcendence,and Psychological Capital

Journal of Business Ethics - Broader outlook, ethics, and social responsibility have been long-standing concerns in business practices and management. In this regard, an effective management...     

A model of signed network formation with heterogeneous players

This paper proposes a model of formation of signed networks that comprise both positive (friendly/cooperative) and negative (antagonistic) social ties between players who differ intrinsically in strength. Friendships/alliances serve to increase one’s power over their intrinsic strength; in the determination of power it matters not how many allies one has, but who these allies are. The model proposed here is suited to any context where players derive power from friendships/alliances with stronger players and payoffs are extracted from less powerful enemies. The structure of ties across various types of players is studied in Nash equilibria along with a characterization of Nash equilibria under various parametric conditions.     

ESTIMATION OF BENEFITS FROM DEER AND MOOSE HUNTING IN MANITOBA

Wildlife production has been suggested as a socially beneficial alternative to agriculture on marginal land. Since most wildlife species are fugitive common property resources, the private sector is assumed to be incapable of generating optimum outputs. Therefore, public investments in habitat and game protection and management are assumed to be beneficial, provided that funds are appropriately allocated. Criteria are needed for optimizing such public investments, and the benefit cost approach is currently used. Benefit evaluation is one important aspect of this approach. In the present study the benefits of deer and moose hunting in a selected area of Manitoba have been estimated and projections made for 1975 and 1980. The benefit calculations are based on estimated demands for hunting, using a model in which distance and hunting site quality are independent variables. The demand and benefit estimates will be of interest to land use planners and wildlife managers. Data used in the study were obtained from surveys by the Manitoba Wildlife Branch and the Department of Agricultural Economics, University of Manitoba II a été suggéré que la production du gibier serait une alternative qui apporterait des bénéfices sociaux où?on pratique ?agriculture à terres marginales. Elant donné que la plupart des espèces sauvages sont de caraclère fugilif ainsi qu'une proprieté commune, nous croyons qu'il est impossible pour le secleur privé de produire un rendement optimal. Par consequant, nous présumons que des investissements publics trail à la protection et la gestion du gibier et de son habitat offrenl des avantages, pourvu que les fonds soienl correctement distribués. On a besoin de critères pour optimaliser de tels investissements publics, et la méthode “benefit-cost” est ?usage couranl. ?évaluation des bénéfices est un aspect important de cette méthode. Dans la presente étude les bénéfices de la chasse aux chevreuils et aux orignaux dans une région sélectionnée du Manitoba ont été estimés et des projections onl été effectuées pour les années 1975 et 1980. Les calculs des bénéfices onl pour base des estimations des demandes pour la chasse, à parlir ?un modèle dans lequel les variables indépendantes sont la distance et la qualite des endroits de chasse. Les estimations des demandes el des benefices seront intérèssantes aux planificaieurs de ?utilisalion des terres et aux direcleurs de ?enlretien des terrains de chasse. Les données utilisées dans cette étude ont été oblenu à partir de questionnaires utilisés dans des enquêles menées par la Division de Chasse et Pêche du Manitoba et par le Département ?Economie Rurale de ?Université du Manitoba     

Trade Openness,Structural Change and Total Factor Productivity

The impact of trade openness on growth of total factor productivity (TFP) is investigated. Given the differences in tradability of goods across sectors as well as the ongoing structural change, we examine whether trade openness has had a differential impact on TFP growth of the three main sectors of an economy. While the positive impact of openness on TFP growth for the aggregate economy is confirmed, openness has had no appreciable impact on the growth of TFP in the agricultural and industrial sectors. We find that the positive effect of openness on TFP growth for the economy as a whole was mostly due to the positive relationship between the two variables for the services sector. Further, we conclude that the lack of a general consensus in past studies could be due to their neglect of structural change and temporal factors when analyzing the trade-TFP nexus.     

Female directors on the board and cost of debt: evidence from Australia

We examine whether the presence of female board members has any impact on the cost of debt among Australian listed companies. We find that female presence on the board is negatively associated with the cost of debt. Most importantly, our findings support the argument of critical mass theory that a certain threshold of gender balance is required for enhancing board effectiveness. Our results are valid irrespective of alternate model specifications and endogeneity issues. Overall, the results provide support to the ASX Corporate Governance Principles and Recommendation for the appointment of female directors on corporate boards.     

Informed trading around earnings announcements—Spot,futures, or options?

Recent literature reports higher single stock options (SSO) volume before earnings announcements (EA). There are no studies that explore single stock futures (SSF) in this context because of illiquid SSF markets in developed countries. Similar to SSO, SSF provide embedded leverage and facilitate short selling although at a lower cost, but do not provide downside-risk protection. India’s liquid SSO and SSF provide a unique setting to study the preference of informed traders. We observe an increase in both SSO and SSF volume before EA. Further, SSF dominate SSO possibly due to SSO becoming expensive before EA and higher information leakage in India.     

Deterministic nonlinearity in the stock returns of major European equity markets and the United States

By using recently developed statistical tools designed to overcome some of the limitations often associated with financial data, this study attempts to detect low-dimensional deterministic chaos in five major European stock markets and the United States. Country indexes exhibiting low-dimensional deterministic chaos may contain some informational inefficiency; thus, it may be possible to use nonlinear dynamics to predict future stock returns. The results do not provide evidence of the existence of low-dimensional chaotic systems in any of the examined indexes. As such, the notion of market efficiency in the examined indexes is not threatened by the findings of this study.     

The impact of liberalization on bureaucratic corruption

Liberalization increases the number of goods available for consumption within a country. Since bureaucrats value variety, this raises the marginal utility of accepting a bribe. This “benefit effect” is counteracted by an increasing “cost effect” from corruption deterrence activities that arise due to greater international pressure to curb corruption. The interaction of these two effects can lead to a non-monotonic relation between liberalization and corruption. Moreover, pre-commitment to deterrence activities is shown to be more effective in controlling corruption. Empirical evidence supports the existence of a non-monotonic relation between economic openness and corruption among developing countries.     

Urbanization,the energy ladder and forest transitions in India's emerging economy

Urbanization is currently a major force in tropical land use transitions as economic activities aggregate in urban centers, particularly in Asia. This paper examines relationships among urbanization, household energy source, and forest cover at the state level in India using available census, survey, and remote sensing analysis from the 1990s and 2000s. Central questions include (1) how rapidly are urban and rural households switching from traditional to modern fuel sources; and (2) what are the consequences of changing household energy sources for fuelwood demand and forest cover. Country-wide, 30 and 78% of urban and rural households respectively used fuelwood for cooking in 1993. In urban households, the percentage decreased to 22% by 2005 with a shift towards liquefied petroleum gas (LPG). The shift occurred across almost all income classes. In rural areas, the use of LPG increased fourfold but 75% of households still rely on fuelwood. Despite the decline in percentage households using traditional fuels, fuelwood demand continued to increase from 1993 to 2005 at a national scale due to an increasing total number of households. However, 25% of states and union territories experienced declines in rural fuelwood demand and over 70% declines in urban fuelwood demand. Forest cover has remained steady or increased slightly over the time period, reaffirming the conclusion that fuelwood demand may lead to local degradation but not large-scale deforestation. At the state level, increases in percent forest cover between 2000 and 2004 are positively associated with percent of total households that are urban (corresponding to fewer percentage households using wood) but not related to changes in fuelwood demand. Plantations are a primary cause of increases in forest area, where benefits to ecosystem services such as biodiversity and hydrologic function are controversial. Results suggest that households will continue to climb the energy ladder with future urbanization, resulting in substantial development benefits and reduced exposure to indoor air pollution. Implications of reduced fuelwood demand for forest cover are less certain but the limited data suggest that urbanization will promote a transition to increasing forest cover in the Indian context.