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A major goal of federal disclosure laws is to ensure that precontractual disclosure documents are readable, i.e., easily understood by the average disclosee. Focusing as a case study on 523 U.S. disclosures in the franchise industry, this Article empirically shows that disclosures are normally unreadable. Using the Gunning Fog Index linguistics readability tool, this Article indicates, inter alia, that prospective franchisees need, on average, more than twenty years of education to understand a franchise disclosure document on the first reading. This result undermines the readability goal of the federal franchise disclosure law since the highest level of education that most franchisees have completed is community college, which is normally the equivalent of fourteen years of education. The results of our study also show a significant positive relationship between the franchises' size and age and the readability of their disclosures. The empirical results of this study have significant implications, not only for the franchise industry, but also for the institutional design and enforcement of federal disclosure regulations. [ABSTRACT FROM AUTHOR]

Yield improvements are critical to ensuring food security for a growing world population especially in view of the increasing potential for use of land in biofuel production. Efforts to sustain the impressive rate of past productivity gains, epitomized by such successes as the Green Revolution, are bound to rely on biotechnology innovations such as those responsible for the development of genetically engineered (GE) crops. Some argue that the use of biotechnology can substantially improve yields relative to the trajectory established by traditional breeding in the 20th century. Because U.S. adoption of GE varieties has been very strong since their introduction in the late 1990s, we investigated empirically whether and to what extent the GE technology has improved realized yields. We study this question for nonirrigated U.S. maize (Zea mays L.) and soybean [Glycine max (L.) Merr.] yields over 1964 through 2010, having controlled for local effects, weather, fertilization, and the preexisting (non-GE) crop improvement trend. For maize we find that GE varieties have increased realized yields, with a stronger gain in the Central Corn Belt (CCB). For soybeans, GE varieties appear to have slightly reduced yields. For both crops we find a strong trend in yield growth, which may have accelerated in recent years within the CCB. However, the combined effects of yield trend and GE adoption are predicted to fall short of the growth rate envisioned by industry projections. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this study was to investigate the interest in practice ownership among pediatric dentistry residents and influencing factors, particularly educational debt. Methods: An invitation to participate in an anonymous survey was sent to 933 pediatric dentistry residents training in the United States in the spring of 2020. Results: The survey response rate was 32.9 percent. Of the respondents, 61.2 percent reported being extremely or very interested in practice ownership and 49.8 percent anticipated becoming a practice owner within five years of graduation. An inverse relationship was seen between one's level of comfort in assuming a business loan to acquire a practice and having an educational debt burden of $400,000 or greater (P=0.002). Practice management preparation was the most common concern related to future practice ownership. Those feeling completely, very, or moderately prepared to manage a dental practice were over 40 percent more likely to be extremely or very interested in practice ownership than were those who felt slightly or not at all prepared (P<0.001). Conclusions: There appears to be broad interest in practice ownership among pediatric dentistry residents. Relatively high educational debt may negatively influence future practice ownership, but it may be less influential than other factors. [ABSTRACT FROM AUTHOR]