Blockholder dispersion and firm value

This paper analyzes the impact of blockownership dispersion on firm value. Blockholdings by multiple blockholders is a widespread phenomenon in the U.S. market. It is not clear, however, whether dispersion among blockholder is preferable to having a more concentrated ownership structure. To test for the direction of the effect, we use a large dataset of U.S. firms that combines blockholder information, shareholder rights information, debt ratings, accounting information, and financial markets information. We find that a large fraction of aggregated block ownership negatively affects Tobin’s Q. The negative impact is larger if blockowners are more dispersed, suggesting that a concentrated ownership structure is to be preferred on average. Results are robust to controlling for blockholder type as well as proxies for shareholder rights. Our empirical findings are also confirmed if we study the impact of ownership dispersion on firm debt ratings rather than Tobin’s Q. JEL Classification: G3, G3

The impact of seeing and posting photos on mental health and body satisfaction:A panel study among Dutch and Japanese adolescents

A vivid scholarly debate addresses the extent to which social media usage is detrimental for adolescents’ mental health and body satisfaction. The current study aims to advance the debate in three ways: (1) we differentiate between different types of active and passive social media use (i.e., authentic vs. edited content), (2) we examine both between- and within-person results, and (3) we take a cross-national approach. Therefore, a three-wave panel study was conducted among 987 adolescents in Japan (N = 433) and the Netherlands (N = 554) to longitudinally investigate the relationships between active visual self-presentation, passive exposures thereto, and mental health and body satisfaction. Between-person results generally indicate that, regardless of being active or passive, both creating or seeing authentic content can be associated with increases in mental health and body satisfaction. Contrary, both creating and seeing edited content can coincide with reduced levels of mental health and body satisfaction. Nevertheless, the results should be seen in light of differences in between- and (lagged) within-person processes as well as cross-country differences. In all, evidence exemplifies the need for a communication-centered approach specifying content heterogeneity, showcases differences in between- and within-person effects, and demonstrates cross-national differential susceptibly to media effects

Me, my selfie, and I:the relations between selfie behaviors, body image, self-objectification, and self-esteem in young women

Due to the enormous popularity of social networking sites (SNSs), online and offline social lives seem inextricably linked, which raises concerns for how SNS use relates to psychological health. Similarly, the omnipresence of selfies on SNSs—a form of appearance-related exposure—raises concerns regarding psychological health. This study aimed to investigate the relationships between body image, self-objectification, self-esteem, and various selfie behaviors among young women (N = 179). We hypothesized that a worsened body image (i.e., higher body dissatisfaction or lower body appreciation), higher levels of self-objectification, and lower self-esteem would precede greater engagement in selfie behaviors. Structural equation modeling showed that body appreciation is associated with greater engagement in selfie selection and deliberate posting, and that self-objectification is related to greater engagement in all selfie behaviors assessed. In support of our proposed model, a reversed model was also tested that showed poorer results. These findings suggest that body image may serve not only as an outcome of SNS use but also as a motive preceding selfie behaviors

Me, My Selfie, and I:The Relations Between Selfie Behaviors, Body Image, Self-Objectification, and Self-Esteem in Young Women

Due to the enormous popularity of social networking sites (SNSs), online and offline social lives seem inextricably linked, which raises concerns for how SNS use relates to psychological health. Similarly, the omnipresence of selfies on SNSs-a form of appearance-related exposure-raises concerns regarding psychological health. This study aimed to investigate the relationships between body image, self-objectification, self-esteem, and various selfie behaviors among young women (N = 179). We hypothesized that a worsened body image (i.e., higher body dissatisfaction or lower body appreciation), higher levels of self-objectification, and lower self-esteem would precede greater engagement in selfie behaviors. Structural equation modeling showed that body appreciation is associated with greater engagement in selfie selection and deliberate posting, and that self-objectification is related to greater engagement in all selfie behaviors assessed. In support of our proposed model, a reversed model was also tested that showed poorer results. These findings suggest that body image may serve not only as an outcome of SNS use but also as a motive preceding selfie behaviors