Dark Knights Rising: The Aurora Theater and Newtown School Massacres and Shareholder Wealth

Purpose

This study analyzes the stock price impact of the Aurora theater and Newtown (Sandy Hook) school massacres on both domestic (US) and foreign theater operators and US gun manufacturers in an effort to document the economic effects of these tragedies.

Methods

The well-established “event study” methodology from the fields of economics and finance is employed to assess the impact of the shootings on the affected companies after controlling for risk and overall market movements.

Results

The Aurora theater shooting resulted in striking declines for Cinemark (the targeted theater) as well as major US competitors, but had no impact on overseas theater chains. Smith & Wesson (maker of the gun used in Aurora) showed no response, whereas Ruger (a competitor) exhibited large gains. Both Smith & Wesson and Ruger plunged after the Newtown shooting, although neither made the weapons used in the shooting.

Conclusions

Contrary to prior research on workplace homicides, the results show that random mass shootings have profound effects on targeted companies. In addition, the results suggest the presence of a very strong “contagion effect” (where negative events affecting one company impact others in the same industry). The negative responses of both publicly-traded US firearms manufacturers to the Newtown shooting suggests a “sea-change” in the debate over gun ownership in the US.     

Why Inconclusiveness is a Problem for Public Reason

Law and Philosophy - Most theorists of public reason, including both its proponents and critics, now accept that it is inconclusive, meaning that its correct application can result in a plurality...     

“I knew it was a scam”: Understanding the triggers for recognizing romance fraud

Research Summary

This article investigates the contributing factors (or triggers) to a realization of romance fraud victimization, based on 1015 reports lodged with Scamwatch (Australian online reporting portal for fraud) between July 2018 and July 2019 (inclusive). The article examines the free text narrative of each report to propose five discernible trigger categories: further requests for money; characteristics of communications; verification checks; an offender's action(s); and being told by a third party.

Policy Implications

Based on a comprehensive understanding of these five categories, the article advocates for broader messaging approaches to encompass financial literacy and well-being, cyberliteracy and critical thinking skills, cybersecurity practices, and respectful and healthy relationships. Leveraging the use of these wider education and awareness campaigns could improve recognition of romance fraud. Importantly, it is suggested that banks and other financial institutions are in a strong position to focus their efforts on some of these broader messages to effect positive change.     

Government stewardship and primary health care in Guatemala since 1996

This article analyzes the role of government stewardship in the expansion of primary health care in post‐conflict Guatemala. By the time the Peace Accords were signed in 1996, the country's primary health care system was scarcely functioning with virtually no services available in rural indigenous areas. To address this gaping void/deficiency, the Ministry of Public Health and Social Assistance (MSPAS) embarked on a progressive expansion of primary services aimed at covering the majority of rural poor. Through a series of legal, policy, and program reforms up to 2014, the MSPAS dramatically expanded primary coverage and greatly improved basic health indicators for the entire population. To succeed in this effort, the MSPAS and its partners needed to simultaneously grow their stewardship capacity to oversee and develop the primary health system. On the basis of recent health systems strengthening literature, we propose a stewardship framework of 6 critical functions and use it to analyze the gains in government capacity that enabled the achievement of many of the country's primary health goals. Of the 6 stewardship functions, “building relationships, coalitions, and partnerships” especially with civil society organizations stands out as one of the keys to MSPAS success.     

(Mis)Understanding the Impact of Online Fraud: Implications for Victim Assistance Schemes

Australia provides victims of violent crime access to financial support to assist with recovery, excluding victims of nonviolent offences. The author examines the experiences of online fraud victims, and details how the impacts experienced extend beyond financial losses, to include deterioration in health and well-being, relationship breakdown, homelessness, and unemployment, and in the worst cases, suicidal ideation. Using online fraud as a case study, the author argues eligibility to access victim assistance schemes should consider harms suffered rather than the offence experienced. Consequently, the author advocates a shift in eligibility criteria of victim assistance schemes to facilitate much-needed support to online fraud victims.     

THE IMPACT OF CONTINUING EDUCATION TRAINING ON LAW GUARDIAN KNOWLEDGE,EFFICACY, AND PRACTICE BEHAVIORS

There is an increased demand for law guardians in domestic violence cases, especially those involving child witnesses. Training is required for law guardians to meet child clients’ needs. While workshops and conferences are typical venues for continuing education training, their effectiveness is unknown. This pilot study compared law guardians who attended a conference on community violence and children to nonattendees on several training outcomes. Results showed a positive impact on attendees’ feelings of efficacy and intentions to carry out new practice behaviors post‐conference; differences were maintained at follow‐up. Limitations and implications of this pilot study are discussed.