Sexual Orientation, Disclosure and Earnings

Gay/bisexual workers tend to earn less than other men. Does this occur because of discrimination or because of selection? In this paper we address this question and collect new information on workplace disclosure to separate out discrimination effects from selection effects. Using a large sample of recently graduated men in the Netherlands, we find that gay/bisexual workers earn about 3 to 4 percent less than other men. Our disclosure estimates, however, provide little evidence that the labor market discriminates against gay/bisexual workers. They rather support the selection story, most prominently observed among undisclosed gay/bisexual workers who concentrate in lower paid occupations, and earn about 5 to 9 percent less than other men.sexual orientation, disclosure, earnings, discrimination, selection

Representation of Lesbian and Gay Men in Federal, State, and Local Bureaucracies

Americans increasingly view lesbians and gay men as a legitimate minority, entitled to equal employment opportunities and perhaps to adequate representation in government. Scholars of public administration have extensively studied whether women and racial minorities receive fair representation and pay in the public sector, but we have generally ignored lesbians and gay men, largely because we lack data on the sexual orientation of government employees. Using a 5 percent sample of the 2000 Census, this paper provides new insights into one group of lesbian and gay employees: full-time workers with same-sex unmarried partners. It first determines whether they are as likely to hold jobs in the public and nonprofit sectors as workers who are married, have different-sex unmarried partners, or have never been married. Second, it explores whether lesbians' and gay men's representation is concentrated in particular occupations. It then examines whether workers with same-sex partners earn as much as other workers, and whether any disparities can be explained by race, gender, education, age, occupation, and location. Working Paper 08-2

The Bonding Effect in Cross-Listed Chinese Companies: Is it Real?

A common explanation offered for PRC companies’ listing overseas is that they receive a price premium because listing overseas demonstrates a willingness to submit to the more shareholder-protective regulatory regime of the foreign jurisdiction and stock market. This explanation is commonly known as the bonding hypothesis. There is some empirical support for the proposition that listing overseas does indeed bring a price premium, although issues of causality are difficult to sort out. If it is true that investors view an overseas listing of a Chinese firm as something worth paying a premium for, the question remains, however, as to whether that view is well founded. Investors in overseas markets may find themselves left out in the cold when things go wrong, and indeed the Risk Factors section of PRC firms’ IPO prospectuses routinely caution investors that successfully suing the company or its management will be difficult or impossible. This paper will examine the degree to which Chinese listed companies and their management do in fact, in a practical and realistic way, bind themselves to overseas state and market norms when such companies list abroad. It will argue that the actual binding effect of an overseas listing is small and that investors are mistaken to pay a premium for it. This conclusion, if correct, has at least two important implications beyond China. First, it casts into doubt the semi-strong form of the efficient capital markets hypothesis, because it means that there is publicly available information that does not seem to be adequately incorporated into stock prices. Second, it suggests that the bonding hypothesis needs to be examined on an empirical, country-by-country basis to see whether the bonding is in fact anything more than an illusion

The Bonding Effect in Cross-Listed Chinese Companies: Is it Real?

A common explanation offered for PRC companies’ listing overseas is that they receive a price premium because listing overseas demonstrates a willingness to submit to the more shareholder-protective regulatory regime of the foreign jurisdiction and stock market. This explanation is commonly known as the bonding hypothesis. There is some empirical support for the proposition that listing overseas does indeed bring a price premium, although issues of causality are difficult to sort out. If it is true that investors view an overseas listing of a Chinese firm as something worth paying a premium for, the question remains, however, as to whether that view is well founded. Investors in overseas markets may find themselves left out in the cold when things go wrong, and indeed the Risk Factors section of PRC firms’ IPO prospectuses routinely caution investors that successfully suing the company or its management will be difficult or impossible. This paper will examine the degree to which Chinese listed companies and their management do in fact, in a practical and realistic way, bind themselves to overseas state and market norms when such companies list abroad. It will argue that the actual binding effect of an overseas listing is small and that investors are mistaken to pay a premium for it. This conclusion, if correct, has at least two important implications beyond China. First, it casts into doubt the semi-strong form of the efficient capital markets hypothesis, because it means that there is publicly available information that does not seem to be adequately incorporated into stock prices. Second, it suggests that the bonding hypothesis needs to be examined on an empirical, country-by-country basis to see whether the bonding is in fact anything more than an illusion

Los pasos

Ante la sobreestimación de la visibilidad en la producción cinematográfica, este trabajo propone derribar la jerarquía que hace del sonido un componente subalterno de la narración cinematográfica, a partir de la realización de un largometraje de ficción volcado a la articulación entre el encuadre cinematográfico y el espacio fuera de campo como ámbitos de tensión entre lo que se ve y lo que se escucha. Un desafío de democratización compositiva que lleva a reflexionar sobre el valor discursivo y expresivo del sonido en la construcción de un relato de ficción, y a operar sobre diferentes procedimientos técnicos y narrativos que permitan movilizar la capacidad creativa del espectador en la recepción de la información proveniente tanto de la imagen como del sonido

Osservazioni sull'Avifauna della Laguna del Calich e considerazioni sulle possibili conseguenze degli interventi di bonifica

An ornithological study was carried out on the lagoon of Calich. A census was made on 100 species of birds of which 66 «Non Passeriformes» and 34 «Passeriformes». 65 species are or have been migrators. 14 species are or have been nesting annually, 6 are nesting but not wintering, 15 are probably nesting. The category with the largest number of species proved to be the CHARADRUFORMES with 25 species. The most numerous species in Anas querquedula. 6 species (Podiceps ruficollis, Ardea purpurea, Ixobrychus minutus, Circus aeruginosus, Porphyrio porphyrio, Fulica atra) are extinct owing to the resu1ts of land rec1amation in 1938-40. As a second land rec1amation is in progress, some proposals are made for the ornithologycal protection and the conservation of the ecological system of Calich

The Demographics of Georgia III: Lesbian and Gay Couples

Using 2000 Census data, this report compares the residential patterns, household incomes, house values, property taxes, and parenting patterns of Georgia's same-sex and different-sex couples. FRC Report 12

The Importance of the Prefiling Phase for Securities-Fraud Litigation

The pleading burden that governs securities-fraud litigation is significantly higher than those standards that govern traditional civil cases. The heightened pleading burden applicable to securities cases has transformed the motion to dismiss into something like summary judgment. In fact, to contend with this heightened pleading burden, plaintiffs typically must spend more time in the prefiling phase gathering sufficient, reliable evidence of securities fraud. With almost two decades of litigation under the securities laws’ heightened pleading burden, empirical studies are revealing that certain kinds of evidence are more likely to defeat a motion to dismiss than others. But dismissal statistics and cases are telling in another respect as well. They reveal that some forms of corroboration (SEC proceedings, accounting restatements, bankruptcies) seem more likely to help stave off dismissal than others (insider trading, inferences from shared experience, and accounts from confidential witnesses). This issue—the effective strategies for investigating and pleading securities-fraud claims—is the subject of this year’s conference sponsored by Loyola University Chicago School of Law’s Institute for Investor Protection

The Great and Powerful FAA: Why Schwab’s Class Action Waiver Should Have Been Enforced Over FINRA’s Rules

This Comment argues that recent Supreme Court precedent, circuit court decisions in contexts similar to FINRA’s oversight of the securities industry, and investors’ true interests all instruct that Schwab’s class action waiver should have been enforced over FINRA’s contrary command. Part II discusses FINRA’s role in the securities industry, the FAA and recent Supreme Court precedent interpreting the FAA, and the FINRA Rules that Schwab’s class action and joinder waiver violated. Part III analyzes why the conflict between the FAA and FINRA’s rules should have been resolved in favor of the FAA and supports this argument with discussion of federal circuit court decisions in contexts analogous to the securities industry. Part IV addresses the fears voiced by investor protection advocates and articulates the policy reasons in support of enforcing the class action waiver, arguing that its enforcement would have actually benefited investors

Justice, punishment and mercy in the institution of marriage in roman law

Il tema della giustizia e della pena può essere riscontrato anche nella risoluzione del conflitto tra coniugi già a partire dal diritto romano arcaico. Si tratteggerà, quindi, l’evoluzione dell’istituto del divortium nel sistema giuridico romano a partire dalla sua nascita come risposta al ius vitae ac necis del marito sulla moglie, passando per il ripudio unilaterale e concludendosi con la dissoluzione del vincolo. L’analisi proseguirà attraverso uno sguardo sulla normativa di merito nell’età classica per poi soffermarsi sulla normativa del Tardo Impero che, incontrandosi con il Cristianesimo, fu soggetta a modificazioni in virtù delle spinte che la dottrina patristica sull’indissolubilità forniva. Si metterà in luce come il ius di cui si tratta, che vide la nascita del divortium quale risposta di un coniuge alle ingiustizie perpetrategli dall’altro, arrivò a doversi confrontare con la dottrina Cristiana che, nell’ambito matrimoniale, sostenendo la tutela del vincolo, riuscì a compiere un bilanciamento delle istanze sociali e religiose attraverso l’istituto della separazione come “pena misericordiosa”.The issue of justice and punishment can be found in the resolution of the conflict between spouses from the archaic Roman law. The divortium institution in the Roman legal system from its birth as a response to the ius vitae ac necis of the husband over the wife, the unilateral repudiation and, finally, the dissolution of the bond will be outlined. The analysis will continue with the regulations in the classical period and then the regulations in the Late Empire which, coinciding with Christianity, were modified by virtue of the importance given to indissolubility by the patristic doctrine. We will see how the ius, which considers divortium as a response of one spouse to the injustices from the other one, had to be measured with the Christian doctrine which, in the matrimonial field, protecting the bond, will strike a balance between social and religious needs through the institute of separation as a "merciful punishment".Ciencias ReligiosasDerech