523 research outputs found
Taxation and Corporate Risk-Taking
We study whether the corporate tax system provides incentives for risky firm investment. We first model the effects of corporate tax rates and tax loss offset rules on firm risk-taking. Testing the theoretical predictions, we find that firm risk-taking is positively related to the length of tax loss periods. This result occurs because the loss rules shift a portion of investment risk to the government, inducing firms to increase their overall level of risk-taking. Moreover, the corporate tax rate has a positive effect on risk-taking for firms that can expect to use their tax losses, and a negative effect for those that cannot. Thus, the effect of taxes on risky investment decisions varies among firms, and its sign hinges on firm-specific expectations of future tax loss recovery
The effect of repatriation tax costs on U.S. multinational investment
This paper investigates whether the U.S. repatriation tax for U.S. multinational corporations affects foreign investment. Our results show that the locked-out cash due to repatriation tax costs is associated with a higher likelihood of foreign (but not domestic) acquisitions. We also find a negative association between tax-induced foreign cash holdings and the market reaction to foreign deals. This result suggests that the investment activity of firms with high repatriation tax costs is viewed by the market as less value-enhancing than that of firms with low tax costs, consistent with foreign investment of firms with high repatriation tax costs possibly reflecting agency-driven behavior. Keywords: Cash; Investment; Ta
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"It's Like Being in a Labyrinth": Hispanic Immigrants' Perceptions of Depression and Attitudes Toward Treatments
This study aimed to describe Hispanic immigrants' perceptions of depression and attitudes toward treatments and to examine how demographics, acculturation, clinical factors, and past service use were associated with their perceptions and attitudes. A convenience sample of 95 Hispanic immigrant patients was presented a vignette depicting an individual with major depression. Structured interviews that included standardized instruments and open-ended questions were used to query patients about their views of depression and its treatments. Findings showed that Hispanic immigrants perceived depression as a serious condition caused by interpersonal and social factors. Consistent with existing literature, most patients endorsed positive attitudes toward depression treatments yet reported apprehensions toward antidepressants. Demographic factors, acculturation, depressive symptoms, and past mental health service use were related to patients' views of depression and attitudes toward care. This study emphasizes the need to incorporate Hispanic immigrants' perceptions and attitudes into depression treatments
Third-generation cephalosporin resistance in Blantyre, Malawi: transmission and outcomes
Antimicrobial resistance occurs when microorganisms evolve to survive exposure to the antimicrobials previously successfully used to treat them. Ceftriaxone is a third-generation cephalosporin (3GC), which has long been the antibiotic of choice in many sub-Saharan African hospitals. Surveillance data from patients at Queen Elizabeth Central Hospital (QECH), in Blantyre, Malawi has shown a rapid proliferation of 3CG resistance (3GC-R) amongst key bloodstream isolates and the lack of availability of alternatives to ceftriaxone, means that these infections are frequently untreatable. Despite this, outcomes for patients with these infections in Malawi are unknown. I hypothesise that 3GC-R BSI is associated with poor outcomes for patients in Malawi, carrying a high mortality and morbidity for individual patients and a significant economic burden on the healthcare provider. Gut mucosal carriage of 3GCR-E generally precedes invasive infection and I further hypothesise that community household level determinants are driving a high prevalence of 3GC-R carriage amongst individuals living in urban Blantyre.
To address these hypotheses, I present the findings of two longitudinal cohort studies. The first, was a cohort of patients whose blood cultures were positive for Enterobacterales or Acinetobacter spp.. I use logistic regression and Cox proportional hazards models to determine the associations of 3GC-R on in-hospital mortality, hospital length of stay and survival. Healthcare resource use was obtained from review of the medical records and patients were interviewed to establish direct and indirect costs of admission as well as health-related quality of life (HRQoL) outcomes. I use multivariable models to estimate the effects of 3CG-R on these health economic outcomes. The second cohort was a community sample of randomly selected households in Blantyre. Stool samples were collected from adults and children from 110 households, over 6-months and processed for 3GC-R E. coli using selective Chromogenic agar. I first use hierarchical models to identify risk-factors for 3GC-R gut mucosal colonisation and then develop dynamical transmission models to explore transmission routes in more detail.
I find that patients with Enterobacterales and Acinetobacter spp. BSI have a high mortality and that there is a significant association between 3GC-R and death, as well as increased hospital length of stay. In addition, 3GC-R is associated with higher healthcare provider and patient level costs than sensitive infection as well as poorer HRQoL outcomes. The prevalence of 3GC-R E. coli colonisation in the community sample is high. Sampling during rainy season and higher prevalence within households are associated with 3CG-R carriage, suggesting that within household and environmental transmission are important. Dynamical modelling provides further insight into these transmission routes, suggesting that within household reservoirs and person-to-person transmission are important drivers of 3GC-R acquisition. Future iterations of the dynamical models I develop, should incorporate social network information and whole genome sequencing of cultured isolates, in order to identify where 3GC-R transmission pathways can be interrupted
Prevalence of the endoparasitoid Verrallia aucta in Central Scotland: A potential biocontrol for Philaenus spumarius (Hemiptera, Aphrophoridae), an important vector of Xylella fastidiosa
Open Access via the Wiley agreementPeer reviewe
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