ADVERTISING RESTRICTIONS AND CIGARETTE SMOKING: EVIDENCE FROM MYOPIC AND RATIONAL ADDICTION MODELS

Because of the high social cost of cigarette smoking, many countries impose advertising restrictions to reduce cigarette consumption. Yet previous studies conclude that advertising constraints have been ineffective at reducing cigarette smoking. This conclusion is incorrect because it ignores the fact that advertising restrictions have supply as well as demand effects. The authors extend existing research by showing that advertising regulations, especially those found in the recent National Tobacco Settlement, have decreased the equilibrium level of cigarette consumption in the United States, a result that holds for both myopic and rational addiction models. (JEL L50, L66, M37 )     

The impact of leisure coping beliefs and strategies on adaptive outcomes

Despite the recent growth of leisure coping research, it is not entirely clear: what aspects of leisure best contribute to coping with stress, and how the mechanisms that link leisure to adaptive outcomes operate. Another limitation of this research has been a tendency to examine leisure coping independent of general coping - coping not directly associated with leisure (e.g., problem-focused coping). To help overcome these limitations, the purpose of this study was to test two models of leisure and coping: (a) an independent model and (b) a buffer model, when the effects of general coping were taken into account. The findings of the study using police and emergency response service workers suggest that the effects of leisure on adaptive outcomes differ depending on the type of leisure coping used. Situation-specific leisure coping strategies (i.e., actual coping behaviors and cognitions available through leisure) were significantly associated with effectiveness of coping, satisfactory coping outcomes, and stress reduction (i.e., immediate adaptive outcomes), whereas enduring leisure coping beliefs (i.e., personality dispositions and beliefs about the role of leisure as a means of managing stress) significantly predicted better physical health (as a long-term outcome), irrespective of the level of stress experienced. Both types of leisure coping had significant 'main effects' supporting the independent model. Also, evidence of the buffer model was found for the effects of leisure coping strategies on moderating the detrimental impact of stress on physical health. Implications of leisure coping research for health promotion and lifestyle intervention are discussed.     

POST‐PRIVATIZATION OWNERSHIP AND FIRM PERFORMANCE: A LARGE META‐ANALYSIS OF THE TRANSITION LITERATURE

This paper aims to perform a large‐scale meta‐analysis of the relationship between post‐privatization ownership and firm performance in Central and Eastern Europe and the former Soviet Union. Baseline estimation of a meta‐regression model that employs a total of 2,894 estimates drawn from 121 previous studies indicated the superior impact of foreign ownership on firm performance in comparison with state and domestic private entities. Furthermore, the estimation of an extended meta‐regression model that explicitly controls for the idiosyncrasies of transition economies and privatization policies strongly suggested that differences between countries in location, privatization method, and speed of policy implementation strongly influence the link between post‐privatization ownership structure and firm performance. We also found that these factors not only cause a remarkable gap between countries in terms of ex post improvement in firm performance but also significantly affect the interrelationship between foreign investors, domestic outsider owners, and firm managers, and the relative superiority of various domestic outsiders. Conclusive evidence of the harm caused to ex post firm performance by voucher privatization is one of the most noteworthy empirical findings in this paper.