We examine the relationship between TV viewing and economic expectations during economic recession. A content analysis of 84 hours of local network primetime programming (news and nonnews) identifies a moderate bias toward economic pessimism in the broadcasts. A survey of the adult population (N = 356) points at a significant positive relationship between TV viewing (total viewing and viewing of news programming) and economic pessimism at both the national and the personal levels. A similar relationship exists between TV viewing and optimistic bias-the tendency to be more pessimistic on economic matters at the national than at the personal level. These results remain significant when controlled for demographics, trust in national institutions, evaluation of current economic situation and consumption of media other than TV, and corroborate a second-order cultivation effect in the economic context.

No abstract

This study explores press releases in the pharmaceutical industry to expand our understanding of how investments in R&D outlays influence uncertainty of future earnings. The findings make two contributions to the literature. First, they provide evidence that equal investments in different R&D ventures are associated with differential variability of future earnings. This result suggests that non‐financial information contained in press releases captures attributes of firm‐specific R&D investments that are not revealed through R&D expenditures reported in financial statements. Second, prior studies have indicated that investments in pharmaceutical R&D are associated with the highest variability of future earnings among all industries. The results, however, suggest that for a large class of low‐risk pharmaceutical R&D investments, the relative variability of future earnings is low and similar to that generated by capital expenditures. The findings hold when we control for endogeneity in voluntary disclosure of press releases.

No abstract

PurposeThe purpose of this paper is to measure the relative effect of relevant explanatory variable on smoking tendency and smoking intensity.Design/methodology/approachUsing survey data collected by the Israeli Bureau of Statistics in 2003‐2004, a probit procedure is estimated for analyzing factors that affect the probability of being a smoker. Using ordinary least square methods, the factors that affect smoking intensity are also estimated.FindingsThe findings show that the probability of being a smoker, as well as having greater intensity of smoking, is larger for males, non‐Jews, and those who are un‐married and younger. When estimating different equations for males and females, the results for males are in the same direction as the results for all sample observations, but for females it is found that being Jewish significantly increases smoking probability and females born in America or Europe smoke more intensively.Research limitations/implicationsOur findings enable the focusing of the relevant authorities' attention on the population that is at a higher risk of smoking.Practical implicationsConcurrent with the necessary legislation, a strategy has to be developed that can appropriately target the different educational, ethnic, age and gender groups, and effectively communicate the correct health message that will properly impact on long‐term behavior.Originality/valueThe findings contribute to existing knowledge in two main aspects: the first is in measuring the relative effect of each significant explanatory variable on smoking tendency and smoking intensity. The second is in using a unique data set that includes many agents' characteristics and examining the significance of the various characteristics on smoking tendency and smoking intensity.