The sitting-height index of build, (body mass)/(sitting height)³, as an improvement on the body mass index for children, adolescents and young adults

The body mass index (BMI) is unsatisfactory in being affected by both relative leg length and height, and, for use with children and adolescents, therefore needs to be interpreted in relation to age. The sitting-height index of build (body mass)/(sitting height)3, is largely free of these disadvantages. Furthermore, because that index is independent of relative leg length, the latter can be treated as a separate indicator of nutritional history and health risks. Past studies on white children and adults have shown body mass to be approximately proportional to (sitting height)3. Moreover, multiple regression of (body mass)1/3 on sitting height and leg length, using year-by-year averages, has indicated that leg length is an insignificant predictor of body mass. The present study used data for individuals, namely 2–20 years old males and females, black as well as white. Regression analysis as above again showed leg length to be an insignificant predictor of body mass, but only above the age of about nine years. However, sitting height is still a stronger predictor of body mass than leg length at all ages. The advantages of the sitting-height index of build for use with young people are confirmed

Relationships among fat mass, fat-free mass and height in adults: A new method of statistical analysis applied to NHANES data

Objectives: The positive influence of fat mass (FM) on fat-free mass (FFM) has been quantified previously by various methods involving regression analysis of population data, but some are fundamentally flawed through neglect of the tendency of taller individuals to carry more fat. Differences in FFM due to differences in FM—and not directly related to differences in height—are expressed as ΔFFM/ΔFM, denoted KF. The main aims were to find a sounder regression-based method of quantifying KF and simultaneously of estimating mean BMI0, the BMI of hypothetical fat-free individuals. Other, related, objectives were to check the linearity of FFM-FM relationships and to quantify the correlation between FM and height. Methods: New statistical methods, explored and verified by Monte Carlo simulation, were applied to NHANES data. Regression of height2 on FFM and FM produced estimates of mean KF and indirectly of BMI0. Both were then adjusted to allow for variability in KF around its mean. Its standard deviation was estimated by a novel method. Results: Relationships between FFM and FM were linear, not semilogarithmic as is sometimes assumed. Mean KF is similar in Mexican American men and women, but higher in men than women in non-Hispanic European Americans and African Americans. Mean BMI0 is higher in men than in women. FM correlates more strongly with height than has been found previously. Conclusions: A more accurate way of quantifying mean BMI0 and the dependence of FFM on FM is established that may be easily applied to new and existing population data

The Personal Tax Advantage of Equity

We compute the value of a firm that pays its cash flows each period through share repurchases in a dynamic environment where personal taxes are paid on realized capital gains and dividends. These results provide a measure of the personal tax advantages of equity financing relative to debt financing, which are often cited as increasing the cost of debt. The initial price of the firm depends on the present value of the taxes paid, which, in turn, depends on the initial price. We solve this valuation problem in closed form in a deterministic setting and numerically in a stochastic setting. We find significant valuation effects from the tax protection afforded by the equity basis. The tax savings are on the order of 40-50\% of the taxes paid by the shareholders of firm that distributes cash through dividends, and the cost of capital is reduced by approximately .8 to 1.2 percentage points through the use of repurchases relative to dividends.

Dealer Intermediation and Price Behavior in the Aftermarket for New Bond Issues

We study trading and prices in newly issued municipal bonds. Municipals, which trade in decentralized, broker-dealer markets, are underpriced when issued, but unlike equities the average price rises slowly over a period of several days. We document high levels of price dispersion in newly issued bonds, and show that the average drift upward in price is because of changes in the mix of trades over time. While large trades occur at prices close to the reoffering yield, and close to each other, small trades occur at a wide range of prices almost simultaneously. Some small investors appear to be informed about the status of the issue, and trade on attractive terms. Others appear uninformed, and broker/dealers are able to discriminate between them.

Sports Marketing Ethics in Today\u27s Marketplace

Sports marketing is a fast-growing business endeavor. However, certain aspects of it have drawn criticisms from several corners (e.g., media, government, coaches, and fans). This paper raises a number of ethical questions about various dimensions of sports marketing. Advice for addressing some of the ethical problems that occur is provided. The paper specifically asks if organizations using professional sports associations as a promotional lever for increasing sales can be hurt by a lack of ethics on the part of the leagues, teams, or players. It also implies that sport organizations, regardless of economic benefits derived or strong player unions, have an obligation to create a positive and sustainable ethical climate and deliver an enforceable ethical code

Nutrition Ad Claims and Disclosures: Interaction and Mediation Effects for Consumer Evaluations of the Brand and the Ad

The effects of ad disclosure information on evaluations of the brand, the advertisement, and purchase intentions are postulated to vary across different ad claim types. In addition, consumers\u27 product health perceptions are hypothesized to mediate the effects of the disclosure information and ad claim type on brand and ad-related evaluations. Results from a between subjects\u27 experiment show that the health perception measure mediates the effect of the disclosure on brand and ad evaluations, but the interaction between the ad claim type and the disclosure is not mediated by the inclusion in the model of consumers\u27 product health perceptions

The Nutrition Elite: Do Only the Highest Levels of Caloric Knowledge, Obesity Knowledge, and Motivation Matter in Processing Nutrition Ad Claims and Disclosures?

This study examines the role of the highest levels of caloric knowledge, obesity consequences knowledge, and motivation to search for nutrition information in the processing of relative nutrient content claims in advertisements, such as “half the calories” or “half the fat,” for products relatively high in total calorie levels. After controlling for the impact of demographics, dietary habits, body mass index, relative ad claims and disclosures, perceived weight gain risk, and other variables, the authors find curvilinear (quadratic) effects for caloric knowledge, obesity consequences knowledge, and motivation to search for nutrition information on intent to buy an advertised, high-calorie snack bar. This suggests a strengthening of the negative relationship for intent for consumers at the highest levels of caloric knowledge, obesity consequences knowledge, and motivation (i.e., the “nutrition elite”). The authors offer public policy implications, including whether achieving such exceedingly high levels of nutrition knowledge and motivation is realistic for the general public in light of other policy alternatives, such as market-based solutions (e.g., reducing serving sizes, standardized front-of-package icons)

Consumer Generalization of Nutrient Content Claims in Advertising

Although considerable research exists on consumer processing of nutrition labeling and package claims, less is known about consumer interpretation of nutrient content claims in advertising. This is important because product advertising often provides a significant first step for consumers in learning new nutrition information. Yet, unlike package claims, Nutrition Facts Panels are often not available for consumers during the processing of such advertising claims. Therefore, the authors examine the following research questions: (1) Do consumers misinterpret (i. e., overgeneralize) common nutrient content claims in advertising? If so, under what conditions does this occur? and (2) Can various types of disclosure statements remedy this problem? To address these questions, the authors interview a total of 365 primary food shoppers in three geographically dispersed malls in the United States in a between-subjects experiment. Misleading generalizations, beyond those of control ad claims, are found for general and specific nutrient content claims. Ad disclosure type, ad claim type, and nutrition knowledge all separately influence nutrient content and disease risk measures. Evaluative disclosures reduce misleading generalizations to a greater extent than do absolute or relative disclosures. The authors offer implications for public policy and food marketers

Financial Intermediation and the Costs of Trading in an Opaque Market

Municipal bonds trade in opaque, decentralized broker-dealer markets in which price information is costly to gather. Whether dealers in such a market operate competitively is an empirical issue, but a difficult one to study. Data in such markets is generally not centrally recorded. We analyze a comprehensive database of all trades between broker-dealers in municipal bonds and their customers. The data is only released to the public with a substancial lag, and thus the market was relativela opaque to the traders themselves during our sample period. We find that dealers earn lower average markups on larger trades, even though larger trades lead the dealers to bear more risk of losses. We formulate and estimate a simple structural bargaining model that allows us to estimate mesures of dealer bargaining power and it relate it to the characteristics of the trades. The results suggest dealers exercise substancial market power. Our mesures of market power decrease in trade size and increase in variables that indicate the complexity of the trade for the dealer.Municipal Bonds, Fixed Income Dealer, Transaction Costs, Liquidity, Transparency, Market Power