This paper estimates peer influences on the alcohol, tobacco and cannabis use of a school based sample of UK 15 year olds. We present evidence of large, positive and statistically significant peer effects in all three behaviours when classmates are taken as the reference group. When friends are...

We examine the impact of industry membership on the capital structure dynamics of UK quoted firms over the period 1968 to 2006 by analysing how the components of common gearing ratios are adjusted in relation to one another. More specifically, if we find evidence of a cointegrating relationship...