The Supercharged IPO

A new innovation on the IPO landscape has emerged in the last two decades, allowing owner-founders to extract billions of dollars from newly public companies. These IPOs-labeled supercharged IPOs-have been the subject of widespread debate and controversy: lawyers, financial experts, journalists, and members of Congress have all weighed in on the topic. Some have argued that supercharged IPOs are brilliant, just brilliant, while others have labeled them underhanded and bizarre. In this Article, we explore the supercharged IPO and explain how and why this new deal structure differs from the more traditional IPO. We then outline various theories of financial innovation and note that the extant literature provides useful explanations for why supercharged IPOs emerged and spread so quickly across industries and geographic areas. Theory provides support for both legitimate and opportunistic uses of the supercharged IPO

Smoking Selectivity Among Mexican Immigrants to the United States Using Binational Data, 1999–2012

Mexican immigrants have lower smoking rates than US-born Mexicans, which some scholars attribute to health selection—that individuals who migrate are healthier and have better health behaviors than their non-migrant counterparts. Few studies have examined smoking selectivity using binational data and none have assessed whether selectivity remains constant over time. This study combined binational data from the US and Mexico to examine: 1) the extent to which recent Mexican immigrants (\u3c 10 years) in the US are selected with regard to cigarette smoking compared to non-migrants in Mexico, and 2) whether smoking selectivity varied between 2000 and 2012—a period of declining tobacco use in Mexico and the US. We combined repeated cross-sectional US data (n = 10.901) on adult (ages 20–64) Mexican immigrants and US-born Mexicans from the 1999/2000 and 2011/2012 National Health Interview Survey, and repeated cross-sectional Mexican data on non-migrants (n = 67.188) from the 2000 Encuesta Nacional de Salud and 2012 Encuesta Nacional de Salud y Nutrición. Multinomial logistic regressions, stratified by gender, predicted smoking status (current, former, never) by migration status. At both time points, we found lower overall smoking prevalence among recent US immigrants compared to non-migrants for both genders. Moreover, from the regression analyses, smoking selectivity remained constant between 2000 and 2012 among men, but increased among women. These findings suggest that Mexican immigrants are indeed selected on smoking compared to their non-migrating counterparts, but that selectivity is subject to smoking conditions in the sending countries and may not remain constant over time

Volunteers of National Youth Service in Israel: A Study on Motivation for Service, Social Attitudes, and Volunteers\u27 Satisfaction

Volunteers of National Youth Service in Israel: A Study on Motivation for Service, Social Attitudes, and Volunteers\u27 Satisfactio

Social patterning of chronic disease risk factors: Cross-national and within-country comparisons.

Chronic diseases are traditionally thought to be more important in high-income countries, although most of the burden occurs in low- and middle-income countries. Despite a recent global focus on the social determinants of health, few studies have examined socioeconomic gradients in chronic disease risk within poor countries or across countries at different levels of development. This dissertation uses data from the 2002-2003 WHO World Health Surveys (WHS) and the 2005 National Survey of Risk Factors for Non-communicable Diseases in Argentina to examine (1) differences associated with urbanicity in the prevalence and social patterning of chronic disease risk factors across countries (using WHS), (2) differences associated with urbanicity in the prevalence and social patterning of chronic disease risk factors across regions within a middle-income country (Argentina survey), and (3) differences over time (i.e. by age cohort) in the social patterning of smoking behavior within a country in transition (Argentina survey). The WHS study showed that body mass index (BMI), obesity and diabetes were higher at higher levels of urbanicity for both genders. For men, there was little association between urbanicity and prevalence of smoking; for women, higher prevalence of smoking was associated with higher urbanicity. In the least urban countries those of higher socioeconomic position (SEP) had higher BMI, while the opposite pattern was seen in the most urban countries, especially among women. In contrast, smoking was consistently concentrated among those of lower SEP, especially among men, regardless of level of urbanicity. The studies from Argentina found that the socioeconomic patterning of risk factors was modified by provincial-level urbanicity, such that the inverse patterning became stronger or only emerged in more urban settings, particularly for BMI, high blood pressure and diabetes. There was also evidence that the socioeconomic patterning of smoking was changing with successive birth cohorts, and was increasingly concentrated among those of lower SEP, particularly among women. Taken together, these results highlight a trend, globally and within countries, toward increasing burden of chronic disease risk among those of lower socioeconomic position. This is certain to impact future inequities in chronic disease outcomes unless interventions addressing health disparities are undertaken.Ph.D.Epidemiological ScienceUniversity of Michigan, Horace H. Rackham School of Graduate Studieshttp://deepblue.lib.umich.edu/bitstream/2027.42/75971/1/nancyfl_1.pd

Socioeconomic Gradients in Chronic Disease Risk Factors in Middle-Income Countries: Evidence of Effect Modification by Urbanicity in Argentina

Objectives. We investigated associations of socioeconomic position (SEP) with chronic disease risk factors, and heterogeneity in this patterning by provincial-level urbanicity in Argentina. Methods. We used generalized estimating equations to determine the relationship between SEP and body mass index, high blood pressure, diabetes, low physical activity, and eating fruit and vegetables, and examined heterogeneity by urbanicity with nationally representative, cross-sectional survey data from 2005. All estimates were age adjusted and gender stratified. Results. Among men living in less urban areas, higher education was either not associated with the risk factors or associated adversely. In more urban areas, higher education was associated with better risk factor profiles (P<.05 for 4 of 5 risk factors). Among women, higher education was associated with better risk factor profiles in all areas and more strongly in more urban than in less urban areas (P<0.05 for 3 risk factors). Diet (in men) and physical activity (in men and women) were exceptions to this trend. Conclusions. These results provide evidence for the increased burden of chronic disease risk among those of lower SEP, especially in urban areas

Using directed acyclic graphs to guide analyses of neighbourhood health effects: an introduction

BACKGROUND: Directed acyclic graphs, or DAGs, are a useful graphical tool in epidemiologic research that can help identify appropriate analytical strategies in addition to potential unintended consequences of commonly used methods such as conditioning on mediators. The use of DAGs can be particularly informative in the study of the causal effects of social factors on health. METHODS: The authors consider four specific scenarios in which DAGs may be useful to neighbourhood health effects researchers: (1) identifying variables that need to be adjusted for in estimating neighbourhood health effects, (2) identifying the unintended consequences of estimating "direct" effects by conditioning on a mediator, (3) using DAGs to understand possible sources and consequences of selection bias in neighbourhood health effects research, and (4) using DAGs to identify the consequences of adjustment for variables affected by prior exposure. CONCLUSIONS: The authors present simplified sample DAGs for each scenario and discuss the insights that can be gleaned from the DAGs in each case and the implications these have for analytical approaches.http://deepblue.lib.umich.edu/bitstream/2027.42/60949/1/Usinig directed acyclic graphs to guide analyses of neighborhood health effects.pd

Research ethics capacity building in Sub-Saharan Africa: a review of NIH Fogarty-funded programs 2000–2012

The last fifteen years have witnessed a significant increase in investment in research ethics capacity development throughout the world. We examine nine research ethics training programs that are focused on Sub-Saharan Africa and supported by the US National Institutes of Health. We collected data from grants awards' documents and annual reports supplemented by questionnaires completed by the training program directors. Together, these programs provided long-term training in research ethics to 275 African professionals, strengthened research ethics committees in 19 countries in Sub-Saharan Africa, and created research ethics curricula at many institutions and bioethics centers within Africa. Trainees' leadership resulted in new national systems and policies on research ethics, human tissue storage and export, and methods of monitoring compliance with research ethics guidelines. Training programs adapted to challenges that arose due to varied trainees' background knowledge in ethics, duration of time available for training, spoken and written English language skills, administrative obstacles, and the need to sustain post-training research ethics activities. Our report showcases the development of awareness of research ethics and building/strengthening of basic research ethics infrastructure in Sub-Saharan Africa. Nevertheless, the increasing amount and complexity of health research being conducted in Sub-Saharan Africa suggests the need for continued investment in research ethics capacity development in this region. This paper is part of a collection of papers analyzing the Fogarty International Center's International Research Ethics Education and Curriculum Development program

Soil nutrient content and water level variation drive mangrove forest aboveground biomass in the lagoonal ecosystem of Aldabra Atoll

Lagoonal mangrove ecosystems are vital for carbon capture, protection of coastlines and conservation of biodiversity. Yet, they are decreasing globally at a higher rate than other mangrove ecosystems. In addition to human drivers, local environmental factors influence the functioning of lagoonal mangrove ecosystems, but their importance and combined effects are relatively unknown. Here, we investigate the drivers of mangrove functioning, approximated by mangrove aboveground biomass (AGB), in a protected lagoonal mangrove ecosystem on Aldabra Atoll, Seychelles. Based on a survey of the mangrove forest structure in 54 plots, we estimated that the mean mangrove forest AGB was 82 ± 13 Mg ha−1. The total AGB of the mangrove area (1720 ha) was nearly 140,600 Mg, equivalent to about 66,100 Mg of carbon stored in the standing biomass on Aldabra. To assess the direct and indirect effects of soil nutrient content, water level variation and soil salinity on mangrove AGB, we used a structural equation model. Our structural equation model explained 82 % of the variation in mangrove AGB. The soil nutrient content (concentration of essential macronutrients in the soil column) had the greatest influence on mangrove AGB variation. Additionally, high variation in water level (change in water depth covering a location) increased mangrove AGB by increasing nutrient content levels. Our results highlight the important contribution of Aldabra's lagoonal ecosystem to Seychelles' carbon storage and the role of hydroperiod as a regulator controlling the availability of crucial nutrients needed for the functioning of mangroves within lagoonal systems. We suggest conservation managers worldwide focus on a holistic ecosystem-level perspective for successful mangrove conservation, including the protection and maintenance of nutrient cycling and hydrological processes

[Self-rated health and social inequalities, Buenos Aires, Argentina, 2005]

Self-rated health is a quality-of-life indicator. This study investigates the impact of individual-level and neighborhood-level socioeconomic characteristics, considered simultaneously, on the state of self-rated health at the individual level in Buenos Aires, Argentina. The study employs a two-level (individual and neighborhood) multilevel analysis, and the data sources were the 2005 Argentina National Risk Factor Survey (multistage probabilistic sample) and the 2001 Population Census. Linear regression shows that higher schooling and income, as well as occupational category, are related to better self-rated health, and increasing age with worse health. In the multilevel analysis, an increase in the proportion (per census tract) of individuals with less schooling was associated with an increase in the proportion of individuals with worse self-rated health. Improving the general health of the population requires strategies and action that reduce the levels of social inequalities in their multiple dimensions, including the individual and neighborhood levels.http://deepblue.lib.umich.edu/bitstream/2027.42/78519/1/AlazraquiDiezRoux2009_CadSaudePublica.pd

Low hemoglobin at hemodialysis initiation : an international study of anemia management and mortality in the early dialysis period

Background. Anemia at hemodialysis (HD) initiation is common. Correcting low hemoglobin (Hgb) before HD initiation may improve survival by avoiding potential harms of chronic anemia, high doses of erythropoiesis-stimulating agents (ESAs) and intravenous (IV) iron in the early HD period, and/or rapid Hgb rise. Methods. We included 4604 incident HD patients from 21 countries in the Dialysis Outcomes and Practice Patterns Study Phases 4-5 (2009-15). Because low Hgb at HD start may reflect comorbidity or ESA hyporesponse, we restricted our analysis to the 80% of patients who achieved Hgb >= 10 g/dL 91-120 days after HD start (Month 4). Results. About 53% of these patients had Hgb = 10 g/dL). Month 1 Hgb was associated with first-year HD mortality (adjusted hazard ratio for 1 g/dL higher Hgb was 0.89; 95% confidence interval: 0.81-0.97), despite minimal differences in Month 4 Hgb. Patients with lower Hgb in Month 1 received higher doses of ESA, but not IV iron, over the first 3 months of HD. Results were consistent when excluding catheter users or adjusting for IV iron and ESA dose over the first 3 months. Conclusions. Even among patients with Hgb >= 10 g/dL 3 months later, anemia at HD initiation was common and associated with elevated mortality. A more proactive approach to anemia management in advanced chronic kidney disease (CKD) may thus improve survival on HD, though long-term prospective studies of non-dialysis CKD patients are needed