Search

In terms of the number of its patent applications, in 2012 China has emerged as the country with the largest IP office in the world. The performance of the Chinese IP system is thus increasingly in the spotlight. While significant economic studies have been devoted to the rise of domestic patenting in China, hardly any study has focused on Chinese patent filings in foreign countries. This paper analyzes Chinese patenting abroad by using WIPO’s foreign-oriented patent family dataset and a respective enterprise questionnaire. It finds that by the turn of the century China emerged as major actor in terms of international patenting. While this is changing rapidly, the share of Chinese patents which get filed abroad is still a fraction of total patents filed at home and most patents still also only target one foreign IP office. Chinese foreign-oriented patent families are concentrated in a few technology fields, notably those related to the ICT sector, “Digital communication”, followed by “Computer technology”, “Nanotechnology”, and similar fields. A few Chinese firms are responsible for a large share of total Chinese patents filed abroad. The paper however also highlights that some of these trends are changing rapidly towards more intensive and broad-based filing abroad. Initial results from a selective firm survey also show a shift from the desire to protect technologies abroad to more strategic motives: (i) the desire to build patent portfolios avoiding litigation, (ii) facilitating collaboration with other firms, but also to (iii) license and sell IP abroad, and to (iv) further the firm’s reputation as true innovator.

Everybody who owns a smartphone is the chattel owner of an artefact embodying patented inventions. The extent to which one may use the smartphone depends on the scope of patent rights and the impli...

The COVID-19 pandemic has prompted several institutions to offer free, dedicated websites and tools to foster research and access to urgently needed innovation by facilitating the search and analysis of information within the large amount of scientific and patent literature which was published in a very short period of time. This situation is clearly exceptional and challenging for patent information professionals searching for relevant data and disclosures in a reliable manner. This article provides an overview of search criteria and strategies, main databases and websites, origin and number of publications, biological sequence information, and experimental data sets covering COVID-19 findings within scientific and patent literature disclosed between January and August 2020. The analysis of non-patent literature is focused on the identification, date assignment, disambiguation, and access to experimental data. The analysis of patent literature is focused on the trends found within the earliest filed and published patent documents as observed in the patent databases, and for the main jurisdictions, worldwide. Some practical advice and strategies for future technical, medical, or patentability assessment of COVID-19-related innovations are suggested by this quantitative and qualitative analysis across information resources.

The African Continental Free Trade Area(AfCFTA) Agreement ("the Agreement") is an ambitious move at integrating the African continent, improving its domestic economy, and a signaling light of Africa's potential in world trade. It is a laudable step by the African Union to meet its AGENDA 2063. Flowing from this, protocols to the Agreement aim to ensure the elimination of possible bottlenecks, and by this, ease of trade is promoted in Africa. Despite this noble and commendable intention, the Agreement fails to establish a robust data governance regime, especially to protect personal data in the exchange of goods and services in the emerging African digital economy. This paper seeks to appraise the Agreement in the light of the data protection debate and other incidental issues.

Demand forecast accuracy improves management earnings forecasts and is critical to organizational planning and coordination. Indeed, surveys indicate that CFOs name forecast error as their top internal concern and identify demand forecasting as one of their top organizational priorities. In this study, we examine organizational learning effects over time in forecast revisions. We first document that year-over-year experience in product level demand forecasting improves forecast revision quality; that is, we show forecast revision “learning by doing.” We further examine whether the disaggregation of a demand forecast into separate forecasts for each source of demand facilitates learning by doing. Exploiting proprietary data from a multinational manufacturing organization we show that disaggregation leads to higher quality forecast revisions that result in improved forecast accuracy earlier in the forecast cycle. Our study provides new insight into how organizations can begin to address the vexing problem of demand forecast error.

How do firms’ IP strategies respond to sudden increases in product-market imitation? Using a 2001 technological shock that enabled rising software piracy, we implement an instrumental-variables estimator to compare a treatment group of at-risk-of-piracy firms with matched not-at-risk control firms. We find that rising piracy increases subsequent R&D spending, copyrights, trademarks, and patents for large, incumbent software firms. Furthermore, copyright and trademark filings precede those of patents, and firms with large patent portfolios disproportionately increase copyrights and trademarks following the shock. We conclude that piracy and similar competitive shocks push firms to innovate to stay ahead of imitator products, and that this effect is moderated by their existing patent portfolios. Our findings have implications for managers seeking to capture value from IP in knowledge-based industries.

The tax transition has been a major turning point in tax policy in sub-Saharan Africa. However, few studies have empirically analyzed its implications for the performance of national tax revenues. In this study, we analyze the impact of the tax transition on non-resources domestic tax revenues instability. The findings suggest that tax transition has a non-linear impact on non-resources domestic tax revenues instability. Its effect depends on level of economic development and public aid.

Dispute resolution experts have much to offer local leaders during a time of national division. They can provide ways for these leaders to: preserve and build trust, take advantage of the energy underlying protest to help the community deal over the long term with root causes of the concerns that residents raise, and prepare the community by making it more resilient and ready to deal with a divisive incident or conflict. In creating and using a “virtual toolkit” of resources for assisting local officials, several strategies emerged that will help dispute resolution experts reach these leaders. The strategies include: ask other local leaders to transform the dispute resolution practices into leader-to-leader counsel, omit alternative dispute resolution (ADR) jargon, fit leaders’ schedules, offer an engaging format that might be a change of pace for leaders, educate for discovery so that local leaders can tailor the concepts to local situations, and conduct the conversations quietly.

We study a mentoring program that aims to improve the labor-market prospects of school- attending adolescents from disadvantaged families by offering them a university-student mentor. Our RCT investigates program effectiveness on three outcome dimensions that are highly predictive of adolescents' later labor-market success: math grades, patience/social skills, and labor-market orientation. For low-SES adolescents, the one-to-one mentoring increases a combined index of the outcomes by half a standard deviation after one year, with significant increases in each dimension. Part of the treatment effect is mediated by establishing mentors as attachment figures who provide guidance for the future. The mentoring is not effective for higher-SES adolescents. The results show that substituting lacking family support by other adults can help disadvantaged children at adolescent age.

The development of e-commerce has greatly facilitated the practice that suppliers encroach upon the retail realm of downstream retailers through direct channels (e.g., online stores). The literature in this area has investigated profit-maximizing firms, but the role of other organizational structures is not well understood. This paper studies supplier encroachment in which the retailer is a dual-purpose corporation that pursues his own profit as well as consumer surplus. We find that the retailer's pursuit of consumer surplus can not only intensify market competition and thus reducing the margin of direct selling, but also motivate the encroaching supplier to set a higher wholesale price compared with the case of no encroachment, which is a contrast to the case of a for-profit retailer where encroachment lowers the wholesale price. The presence of a dual-purpose retailer reduces the effectiveness of using the wholesale price as a lever by the supplier. Therefore, encroaching upon a dual-purpose retailer can hurt the supplier. We examine whether a retailer can benefit from being a dual-purpose corporation and how the retailer's dual objectives affect consumer surplus. We find that a dual-purpose retailer can earn a higher profit than a for-profit retailer as the dual-purpose structure helps deter encroachment. Counterintuitively, we find that consumer surplus in the case of a dual-purpose retailer can be lower than that with a for-profit retailer. This is because the commitment to be a dual-purpose retailer reduces supplier encroachment and thus reduces the total quantity sold to consumers.

Political science research finds that individuals exhibit partisan bias, which results in unduly favorable economic expectations when their partisanship aligns with that of the US president. We examine whether partisan bias is present in management earnings forecasts, where CEOs have strong incentives to provide high-quality forecasts. We find that firms with CEOs whose partisanship aligns with that of the US president issue more optimistically biased management earnings forecasts than CEOs whose partisanship is unknown or not aligned with that of the US president. Our results suggest that CEOs fall prey to partisan bias, which results in suboptimal forecasting behavior. In cross-sectional analyses, we find that this forecast over-optimism is attenuated when CEOs are of higher ability. Additionally, we find that investors fail to discount the news in forecasts issued by CEOs whose partisanship aligns with that of the US president and that post-forecast abnormal returns are lower for these firms.

We study the role of Western CEO incentives in fostering the technological rise of China. Due to China’s quid pro quo policy, foreign multinationals face a trade-off between the short-term benefits of accessing China’s vast market and the long-term costs of transferring technology to China. Leveraging microdata on the global patent network, we construct novel measures to describe technological interactions between US firms and over 70 countries. We find that firms managed by myopic CEOs form more partnerships with China and transfer more technology to China. These firms subsequently lose R&D human capital to China and face more patenting competition from China, suggesting negative long-term consequences in innovation. The results reveal an important real effect of CEO incentives and highlight a novel channel behind China’s technological catch-up.

Tech companies and law enforcement are taking advantage of weak legal regimes in Canada to increase capital and power through the pretext of public safety.

[The online platform economy in China has grown to become one of the largest in the world, with several Chinese platform firms rivaling their American counterparts in size, revenue, and market capitalization. Their rise has challenged existing businesses and forced governments to find new ways to regulate the sector without stifling economic growth and innovation. In this paper, we present a structured explanation of the changes in governance of these private firms by the Chinese government as they grew from startups to powerful and indispensable actors in China’s political economy. We explore the relationship between the party-state and these platforms, as the former has pursued its core goals of economic growth, technological self-sufficiency, and maintenance of single-party rule. The interactions between the platform economy, the market power of the platform firms, and the Chinese government’s goals have led to changes in the governance of the Chinese platform economy.

A lacuna in the extant literature and our desire to contribute to the theoretical literature on how tax/subsidy policies can be used by regions to attract the creative class together provide the motivation for this paper. The paper’s basic contribution is that it is the first to theoretically analyze competition between two regions (1 and 2) for mobile creative capital, the key attribute possessed by the creative class. Both regions produce a final good using creative and physical capital. In the first case, physical capital is immobile and only region 2 uses tax policy to attract the mobile creative capital. We compute the equilibrium returns to creative and physical capital, we specify a key condition for creative capital in the aggregate economy, and we show which of three tax policies gives region 2 the highest income. In the second case, creative and physical capital are mobile and both regions pursue tax policies to attract mobile creative capital. Once again, we compute the equilibrium returns to creative and physical capital and then describe the optimal taxes for the two regions given that they wish to maximize regional income.

As China's recent industrial advancement has changed the trade structure between Ko-rea and China from a complementary relationship to a more competitive one, the need for research on Chinese industrial policy has increased. Therefore, this study aims to analyze and evaluate changes in major industrial policies and industrial structures following China's reform and opening. We also analyze changes in the trade structure between Korea and China due to changes in China's industrial structure. Based on these analyses, we propose the following policy implications for Korea. Under the U.S.-China trade friction, China is expected to focus on a powerful science and technology strategy, promotion of the digital economy, "new infrastructure" construction, and the China Standard 2035 strategy. Korea needs to diversify its export market in the information and communication technology sector, prepare Korea's industrial technology protection system, and expand its participation in China's domestic market while diversifying global supply chains. Second, a response strategy is needed considering China's import growth rate in advanced manufacturing and to improve Korea's trade competitiveness. Finally, China's industrial policy is expected to evolve from simple incubation measures to a comprehensive strategy brought into harmony with the market, and further research on the creation of Chinese industrial ecosystems through policy and interaction between companies is expected.

The study was conducted to determine workplace relationship between employer and employees and among employees of Divine Word Colleges in Ilocos Sur, Philippines and its effect on the job satisfaction. Literatures and studies were reviewed, and questionnaires were used to gather the data related to workplace relationship and job satisfaction. The respondents of the study are employees of the colleges of Ilocos region which include Ilocos Sur and Ilocos Norte. The study is a descriptive study involving survey and fact-finding inquiry. Weighted mean and Pearson r were used to determine the workplace relationship and its correlation with job satisfaction. The study found that there is a significant correlation between workplace relationship and job satisfaction. Therefore, the study recommends that management need to monitor and improve workplace relationship between employer and employees and among employees and also improve and monitor factors that affect job satisfaction.

Joseph Schumpeter described capitalism as a system of creative destruction. Innovative new ideas, new products, and new production methods displace the old. This works to the advantage of entrepreneurial individuals who bring innovations to market, enabling them to get ahead by producing more value for consumers. After those entrepreneurs get ahead, the forces of creative destruction work against them, threatening to displace them in the economic hierarchy. The system that helps those who want to get ahead threatens those who want to stay ahead. An examination of the institutional framework that supports capitalism shows that it contains incentives for the political elite to cooperate with the economic elite for their mutual benefit. An extensive literature on rent-seeking, rent extraction, regulatory capture, and interest group activity explains why the legal system that supports capitalism is susceptible to capture itself, for the benefit of the elite. Capitalists are the biggest threat to capitalism.

Using proprietary data, this study is among the first to provide evidence on the monitoring role of auditors’ in-house tax experts. This role is important due to the relatively high frequency and proportion of tax expert hours in audits, and the salience of tax-related accruals in financial reporting. We show that tax expert effort is associated with client complexity and auditor characteristics. Next, we demonstrate that tax expert effort is associated with the incidence of tax-related internal control weaknesses, but it is not enough to fully mitigate the risk of material misstatements. We also find that tax expert effort is costly, resulting in higher audit fees and lower realization rates. Finally, tax expert effort is associated with conservative tax accruals but not with aggressive tax planning. Overall, although tax expert effort is associated with audit quality and financial reporting quality, it is not a seamless solution to audit tax-related accruals.

We investigate a model in which a monopoly supplier distributes two types of its product through a traditional retailer with a wholesale price contract and an online retailer with an agency contract. Because such an agency contract eliminates the double marginalization problem, the online retailer has a cost advantage over the traditional retailer. Given the advantage of the online retailer, we also consider a possible request by the traditional retailer: the retail price of the online retailer is not smaller than the wholesale price for the traditional retailer. We obtain the following results. An increase in the online retailer's bargaining power over the supplier benefits the two retailers but harms the supplier. Under the request to protect the traditional retailer, the wholesale price is strictly higher than that in the baseline model. The retailers' equilibrium prices are also strictly higher than those in the baseline model. The request benefits the supplier and the online retailer, but harms the traditional retailer.

The short-time ATM skew can be interpreted as the ratio of the difference between the volatility swap and the dual volatility swap to the ATM implied variance.

The sharing economy has become a global socio-economic phenomenon. Increasing numbers of users are joining a broadening variety of sharing platforms. This development not only emphasizes the sharing economy’s growing societal and economic relevance but also drives a transformation of how goods and services are exchanged and how labor markets are organized. In this paper, we navigate the landscape of the sharing economy, as well as the related gig economy, and explore its various facets from a cross-disciplinary perspective. Building on a structured literature overview, we conduct a horizon scanning approach to discuss the current state and future role of the sharing economy ecosystem and identify avenues for future research. Through this, we aim to provide a more nuanced understanding of the issues at hand and derive meaningful insights and implications for policy-making.

This paper examines how increased tax enforcement accompanied by the new tax administration system impacts firm investment efficiency, exploiting the staggered implementation of the third phase of the Golden Tax Project (GTP III) in China. Consistent with the monitoring role of tax authorities (Desai et al., 2007), I find that firms improved their investment efficiency after the local tax office adopted the new system. This effect is more pronounced when tax authorities previously suffered from resource constraints, when the tax enforcement is further enhanced through local fiscal pressure, and when firms have a higher ex-ante propensity to avoid taxes. An analysis of the potential mechanisms of this investment efficiency effect reveals that increased tax enforcement serves as a substitute for corporate governance in that it has positive spillover effects on financial reporting quality and that investments are more responsive to market prices.

Large data centers enjoy government support in many countries. These centers are not laborintensive, but energy-intensive, thus tending to push up electricity prices and possibly crowding out labor-intensive firms. In addition, when owned by multinational companies, profits are difficult to tax in the country of residence. We look at the benefits and costs of supporting data centers in a general equilibrium setting. We assume that an energy tax is reduced as a way of supporting such centers. We show that the net benefits of this policy depends crucially, in general equilibrium, on the value of a tax elasticity. This result can be interpreted as a ”sufficient statistics” regarding the welfare impact of such a tax-reform (in the country where the tax exemption is made). We also show, by an example, that the approach can also given useful information (in the sense of ”sufficient statistics” literature) even when the change is non-marginal.

Open innovation ecosystems play an important role in corporate and product innovation and contribute to the success of economic development at the municipal level, yet there is little research on the factors driving innovative behavior within a municipal innovation ecosystem (MIE). This study explores how the interpersonal and intrapersonal resources of the individuals involved contribute to innovative behavior within a city’s innovation ecosystem.This study used a mixed-method approach to build a novel framework to examine innovative behavior in the Mobile, AL municipality. A moderated mediation model was tested using PLS-SEM. The findings presented in this study introduce new constructs and measurements related to assessing innovation at the individual level in a municipality. The results suggest that innovative behavior is impacted by personal resources and that social events where people and businesses interact contribute to both inter-organizational innovation and the municipal innovation ecosystem.

This study examines the voluntary disclosure of earnings forecasts by female CEOs. We find that in the backdrop of increased pressure to perform from investors and other stakeholders, female CEOs tend to issue more earnings forecasts than male CEOs, and those forecasts are more accurate. We also find that while financial analysts generally prefer to follow companies headed by male CEOs, female CEOs’ efforts to issue accurate earnings forecasts pay off, as these efforts help them close the analyst coverage gap. We provide complementary evidence on the disclosure efforts of female CEOs with regard to updates to the forecast and the 10-K report. Lastly, we show that financial analysts rely more on the earnings forecasts of female CEOs, possibly because they recognize female CEOs’ superior forecasting quality. Our results are robust to the use of alternative research designs, including difference-in-difference, propensity score matching, and entropy balancing. Overall, our study documents gender differences in voluntary disclosure by senior management.

We create an alternative, simpler definition of analyst forecast timeliness leaders based on their response after the corporate quarterly earnings announcements, examining if these analysts’ forecasts are superior in informativeness and accuracy. Our Earnings Announcement Date Leader classification method of leaders and followers is able to identify superior analysts who provide forecasts of higher quality in all three properties, timeliness, informativeness and accuracy, contrary to prior definitions of timeliness. Furthermore, prior forecast accuracy is positively associated to the forecast informativeness of both leaders and followers, being more important for the former. Our findings are important for investors and other market participants, because they can use the EAD Leader classification to identify superior analysts and, consequently, more informative and accurate forecasts.

This paper examines the relationship between CEOs’ individualistic cultural background and corporate innovation among firms in the United States. Using hand-collected data on birthplaces of US-born CEOs, we provide robust evidence that CEOs born in frontier counties with a higher level of individualistic culture promote innovation performance. Firms led by such CEOs increase both quantity and quality of innovation outputs, measured by the number of patents, citation-weighted patents, and the market value of patents, and focus more on breakthrough innovation. Our extended analysis suggests that CEOs with an individualistic background tend to build an innovation-oriented corporate culture and to accumulate human capital by increasing the inflow of inventors, thus promoting corporate innovation.

This study validates a novel mentorability scale, or, a survey measuring first-year college students’ ability to be mentorable. The scale was developed after two pilot studies across three years and was administered in Fall 2019 to 84 first-year students at a large, Hispanic-serving institution in the U.S. South. The scale includes items on how mentees perceive their own ability to be open to feedback, commit time to their mentor, use their mentor’s advice, attend meetings and co-curricular events with their mentor, discussion social lives and academics with their mentor, listen to their mentor, and be respectful of their mentor. Initial results suggest that students who rated themselves highly as being willing to take advice from their mentor correlated with semester-to-semester and year-to-year retention. Implications for first-year student retention and postsecondary mentoring programs will be addressed.

The COVID-19 pandemic has largely disrupted the way of retailing. Retailers with only brick-mortar are forced to adopt online mode to sustain their business, while online retailers started equipping them with sophisticated smart technologies like AI (Artificial Intelligence), ML (Machine Learning), etc. to attract, engage and transact with their customers. This paper enumerates few use cases of technologies in the retailing sector during the COVID-19 crisis. Online impulse buying is generating a good chunk of revenue, and all the retailers are making effort to lure customers for impulse buying. Due to lockdown and physical distancing people, started buying more on e-commerce portals and so the importance of impulse buying also heightened for the retailers. This paper also focuses on market trends that may intensify the role of technologies in retailing post-COVID-19 pandemic crisis. The fear of potential new strains of the virus is posing uncertainty about the rebounding of the economy and changes in the preferences of the individual. To combat these challenges technology is expected to play a vital role. The various advantages and challenges/barriers of probable technology adoption in the retail sector are also discussed. This paper will add to the literature of online retailing and give practical insights to the retailers in adopting adequate technology.

Korea's agriculture is facing a crisis due to the expansion of market opening, the decrease in agricultural population, and the aging population. In this situation, the need for a "6th industry" to revive the economy of agriculture is emphasized by the convergence of agricultural-based primary industries, secondary industries and tertiary industries. As a solution to the agricultural problem, it is urgent to improve production and reduce labor through automation, and smart agriculture, which combines IoT technologies, is suggested as a solution. It is also necessary to provide customer demand information for each industry for the 6th industry through the convergence of big data technologies. With the application of the fourth industrial revolution technology to our agricultural sector, all fields from production to distribution and consumption are changing, and new ICT technologies centered on the Internet of Things are actively introduced in the precision agriculture sector centered on smart farms. Under these circumstances, it is no exaggeration to say that the success or failure of the 6th industry in agriculture depends on the professionalism of the workforce and the securing of the professional workforce. Therefore, this study intends to examine big data and smart farms for the successful 6th industry and provide implications for fostering professional human resources necessary for them.

The present article examines the world labor market under the influence of increasing globalization and technologies of the Fourth Industrial Revolution, having made the beginning of the digital transformation of the world economy. Such general alterations caused by technological changes in general as growth of labor productivity, increasing of labor mobility and competition, reducing of transaction costs in the labor market are reflected in the research. Specific tendencies and new segments in the labour market have been identified. The key challenges - the substitution of a person for cars, Artificial Intelligence, the growth of structural unemployment and inequality of incomes as a result of a digital gap, new requirements to the human capital are at the focus of attention. The state should reduce risks in the labor market by ensuring a comprehensive and systematic solution of these problems through industrial, innovative and workforce policies, special training programs, and improving digital legislation.

The role of public sentiment in stock market volatility has recently become increasingly relevant. Twitter, in theory, offers an inexpensive way to measure real-time public sentiment. We take advantage of a natural experiment to assess the potential improvement that social media adds to forecast performance of ARIMA and ARFIMA models of realized volatility using E-mini S&P 500 (ES) and E-mini DJIA (YM) futures contracts. Comparing models over time, we find that accounting for Twitter sentiment strengthens out-of-sample volatility forecasts across all time periods. While statistical significance exists, economic significance is harder to quantify, and it is unclear if a first-mover advantage exists from continuously monitoring real time Twitter sentiment.

In the last two decades, the world has witnessed the rise of Chinese innovation. China, once a manufacturing hub for the West, has become a major player in the development of many new technologies. We assess how foreign knowledge spillovers spurred this transformation. To this end, we assemble a rich micro-level data set of firm patenting and accounting information. The aggregate data show that over time Chinese firms have gained leadership over foreign firms in China both in terms of production and patenting. Nevertheless, the aggregate trends mask rich industry heterogeneity pointing to the limits of cross-firm knowledge spillovers. While foreign firms have lost market leadership in low-tech (simple) industries, they have maintained strong leadership in high-tech (complex) industries. Exploring foreign knowledge spillovers using patent citations data, we show that only firms in low-tech (simple) industries eventually decrease their reliance on foreign knowledge for innovation. Our findings suggest that imitation is a path to indigenous innovation only in low-tech (simple) industries and point to the need of industry-specific policies.

Cloud computing is making a big difference in the IT industry. Research on cloud computing is becoming more and more popular. And this article focuses on cloud computing. This article first describes the features and definitions of cloud computing, then introduces its service patterns (ie, SaaS, PaaS, and IaaS) and deployment patterns (including public cloud, private cloud, and hybrid cloud), and finally lists the cloud security challenges. That cloud computing is facing.

The development of the innovation potential of countries is possible due to the improvement of R&D and innovation infrastructure that enables promising scientific research, innovative developments, their implementation and scaling in similar industry complexes (regions). Innovative products create a foundation for the export growth of products (services) and the development of national brands.

The article presents the mechanisms influencing the development of innovations in industrial business organizations in the Republic of Belarus, еmphasizing the stimulation of the innovative development of organizations from the real sector of the economy, research and education sector The innovation policy plays an important role in the development of country`s competitiveness, creating favourable conditions for the increase of financial potential, development of intellectual resources, modernization of scientific and innovation infrastructure.

Illegal downloading of copyright materials by end-users had its heyday in the early 2000s, with music, television, and film studios desperately searching for a way to curb the tide of sharing. This chapter uses the example of Capitol Records v Jammie Thomas-Rasset, the first file-sharing case to be tried before a civil jury in the United States, to demonstrate the disproportionate penalties associated with P2P file-sharing. The matter concerned an individual’s sharing of 24 songs, and the damages varied between $222.000 and $1.92 million. Building on this copyright infringement case, the chapter ponders the appropriateness of copyright infringement damages in a world where many infringers see no profit from their copyright breaches. To reach this goal, the chapter discusses the content of the Thomas-Rasset case and the externalities of this judgement as well as copyright enforcement against P2P file-sharers in the US.

Business schools' fundamental problem remains whether they can develop responsible leaders capable of navigating the increasingly complex economy and market society driven by the Fourth Industrial Revolution (4IR) and post-Covid-19 work conditions. The purpose of this integrative literature review is to formulate suggestions for an innovative executive education ecosystem model that reskills and upskills 4IR leaders to manage the future changing workforce successfully. From a theoretical perspective, this integrative literature review was framed by Christensen et al.’s (2015) disruptive innovation theory, which defined disruptive innovation concepts are ‘new to the world products’ or ‘business model innovations,’ not just technical innovations. Content analysis was performed on the selected literature to obtain the most relevant knowledge of how an innovative business school ecosystem can be built to reskill and upskill 4IR leaders and a satisfactory degree of convergence on the key arguments extracted from the literature. This integrative literature review study is significant in advancing professional practice and promoting positive social change in line with the United Nations (UN) Sustainable Development Goals (SDGs) to support sustainable business and community prosperity across regions. This macro-level conceptualization is presented through the findings of this study to answer essential questions and offer recommendations for practice, policy, and future research of how business schools’ mission must become more aligned with global and labor economics. Business Schools need to be identified as important social actors in transforming executive education programs by strategically engaging others in innovative education ecosystems through experimentation, innovation, and industry partnerships.

Against the backdrop of a digitalized economy and a multitude of digital business models, policymakers from around the world are seeking consensus concerning an appropriate allocation of taxing rights. While there is widespread acceptance that consumption taxes should be levied in market jurisdictions, this is not yet the case in corporate income taxation. In an effort to counteract base erosion and profit shifting and more generally, reduce tax avoidance opportunities, the international community is now working to advance the ‘destination principle’ in a broader context. The notion of taxing profit and consumption in market jurisdictions can further equity among states. However, taxation in market jurisdictions can be afflicted with considerable tax compliance and enforcement difficulties, which can lead to inequitable results among taxpayers. To effectively tax digital business models in market jurisdictions, innovative approaches in substantive tax law and tax enforcement are needed. As the authors argue in this paper, proxies can be useful regulatory tools to ensure administrability of a destination-based tax system. In this context, however, policymakers must strike a balance between administrability and equity. The common system of value added tax (VAT) in the European Union (EU) has utilized various proxies and structural enforcement mechanisms to simplify tax compliance and enforcement in the digital context for years. In the authors’ view, they enhance effectiveness of the tax system without renouncing tax equity and have set an example for novel regulatory approaches currently under debate for corporate income taxation.

This article examines China’s efforts to counter American sanctions against Huawei that in effect try to weaponize the silicon supply chain. While China has taken tentative steps to try to decouple from the American semiconductor industry, it faces three continuing challenges. First, the areas of technological dependence that the Huawei Entity List sanctions highlighted, fabrication capital equipment and electronic design automation (EDA) software, are areas in which China has very weak capabilities. Second, the wider the scope of the sanctions is, the more likely local and foreign firms will be willing to cooperate with Chinese efforts to create substitutes for controlled American technologies. But the scope of the sanctions appears to be in stasis and may even narrow during the Biden administration. Finally, the progressive expansion of China’s silicon ambitions has elicited foreign industrial policies to counter China’s own policies. This expanding market outside of China will lessen the effectiveness of Chinese policy and at the same time make a certain level of controls over IC technology palatable to American partners as Chinese customers are replaced by others.

This paper estimates gender differences in access to informal information regarding the labor market. We conduct a large-scale field experiment in which real college students seek information from 10,000 working professionals about various career paths, and we randomize whether a professional receives a message from a male or a female student. We focus the experimental design and analysis on two career attributes that prior research has shown to differentially affect the labor market choices of women: the extent to which a career accommodates work/life balance and has a competitive culture. When students ask broadly for information about a career, we find that female students receive substantially more information on work/life balance relative to male students. This gender difference persists when students disclose that they are concerned about work/life balance. In contrast, professionals mention workplace culture to male and female students at similar rates. After the study, female students are more dissuaded from their preferred career path than male students, and this difference is in part explained by professionals’ greater emphasis on work/life balance when responding to female students. Finally, we elicit students’ preferences for professionals and find that gender differences in information provision would remain if students contacted their most preferred professionals.

In this paper, we investigate whether CEO characteristics (owner-manager status, age and gender) influence firm innovative performance and test empirically if the effect differs for market and transition economies. We use cross-sectional data of manufacturing firms in six EU countries and in Russia. To address heterogeneity, we explore innovation performance by size among SMEs and large businesses and by Pavitt sector. In both institutional settings, the presence of a family CEO either has no effect or improves innovative performance. On the contrary, the role of CEO gender is different in Russia and in the EU. In the EU, female CEOs are associated with less innovation, especially in SMEs and in the traditional sector. In Russia, CEO gender is not associated with differences in innovative performance and when it is (for the traditional sector), it favors female-run firms. For CEO age, considering product innovations, the oldest group of CEOs are less active in European firms while mature CEOs are more innovative in Russia.

Capital gains revenue estimates rely on a long history of research empirically estimating the tax elasticity of capital gains realizations. These elasticity estimates have varied from zero to well over 3 in absolute value depending on numerous factors, such as the time frame studied, the type of capital asset, and the estimation strategy employed. Often, the headline elasticity from a study of this nature is used to calculate the implied revenue-maximizing capital gains tax rate. Unfortunately, this last, policy-relevant step has received insufficient scrutiny. The standard approach fails to sufficiently acknowledge that the estimates of the revenue-maximizing rate are a product of the estimation procedure used and the context of the tax system from which the data were generated. Such an approach yields a single capital gains tax rate which applies to all realized gains and mechanically overstates the resulting revenue-maximizing rate.

Over the past two centuries, the nature of innovation has evolved profoundly across many dimensions, including in the pace and volume of change, in the cost and institutional structure of innovation activity, in the enabling environment for innovation (which itself has evolved because of innovation), in the sources of demand for innovation, in the proliferation of entities engaged in innovation (including most recently the role of artificial intelligence as a patent-receiving inventor), in the distribution of its benefits, and in the nature of concerns that new technologies have raised. With the emergence of the data-driven economy, the pervasive, protean and permanent characteristics of digitized data, one of today’s most important types of intellectual property, create fundamental new social and political conditions that will necessarily elicit social and political responses. And along the way, innovation and the system of protection for intangible assets that innovation produces became the central bone of contention in the trade and technology war between the United States and China (in which third countries are increasingly embroiled). Even as these profound changes unfolded, the basic instruments incentivizing innovation – the various forms of intellectual property (IP) protection – were essentially unchanged and indeed formally expanded, even as the amount of protected IP expanded enormously. Given that many key metrics of economic performance and social behaviour have changed in problematic directions during this period, and in light of the fact that in the innovation-intensive countries the economy has been transformed from one dominated by tangible assets to one dominated by (protected) intangible assets, the system bears reviewing. This note identifies five issues for the current international norms and trade rules insofar as they cover the intangibles economy – in particular IP and the digital economy.

Many of America’s top corporate donors share a common feature: the bulk of their giving is in the form of in-kind products, not cash. This phenomenon is not a coincidence but rather a result of the tax code creating such a preference due to an “enhanced” deduction for inventory donations. In this paper, we utilize a parsimonious model of inventory choice under uncertainty to demonstrate that enhanced tax deductions not only promote giving, they also promote better learning of consumer demand for products in the retail market. An inventory stockout curtails a firm’s learning of precise consumer demand since the firm’s sales volume only reveals that the underlying consumer demand exceeded the inventory level. Tax incentives for donations of excess inventory encourage a firm to boost its inventory stocks which, in turn, boosts the firm’s learning of consumer preferences. Accounting for this informational role of tax incentives, the paper derives charitable giving patterns, socially-beneficial tax policy, and firms’ information acquisition choices.

This Chapter examines the application of the press publishers’ related right to AI-based news production. It analyses the conditions under which AI-generated news content can be protected by the related right and the risk that infringement of the related right poses to AI-based news production. The Chapter concludes that there is no fundamental obstacle for protecting AI-generated news content but certain business models and extensive automatization of editorial activities may fail to meet certain key conditions of protection. Avoiding infringement of others’ related right may be challenging due to the low threshold for infringement and ubiquity of press publications but approaches for infringement assessment and application of copyright exceptions are identified that alleviate infringement risks in situations where the objectives of the right are not threatened. Overall, human oversight and involvement is required, as in many situations conditions of protection and copyright exceptions are difficult to meet with AI alone.

Tax information exchange agreements are getting prominent importance in the globalized world; they are playing a pivotal role in the elimination of tax evasion, which is a very big problem for developing countries like India to tackle the problem of tax evasion and tax avoidance. Organization for Economic Co-operation and Development (OECD) has implemented an an instrument called Tax Information Exchange Agreements (TIEAs) to promote international cooperation in tax matters through exchange of information and also to counter harmful tax practices. The countries which are facing the problem of tax evasion by the tax payers i.e., who are shifting their incomes to tax heavens, this problem can be reduced to a greater extent by negotiating more and more tax information exchange agreements. Keeping all the above said factors in mind this paper mainly aims to analyze the recent developments in exchange of Tax Information between India and other countries. The paper brings about the important features of Indian tax information exchange agreements, Indian Network of tax information exchange agreements, Historical developments, Peer Review process, Steps in tax exchange of tax information and overall mechanism. The paper concludes that Tax Information Exchange Agreements are significant to tackle the problem of tax evasion and harmful tax practices in India, and there must be a sound policy of negotiating tax information exchange agreements with more number of tax heavens and countries.

We investigate the potential of path dependence in explaining cross-sectional variation and persistence in efficient corporate tax planning. Variation in corporate tax planning among firms is far from fully understood. We propose that corporate tax planning strategies are path dependent. This implies that, once a business strategy is adopted, the range of tax strategies available to the firm is narrowed. If a more efficient tax planning strategy emerges, path dependence hampers firms from adopting that option, potentially resulting in tax planning inefficiencies. We compare new entrants to a market with incumbent firms and find that new entrants have an entrant’s tax edge; that is, new entrants are more efficient in tax planning compared to incumbent firms. Consistent with our predictions and path dependence theory, we find that the entrant’s tax edge is amplified when incumbent firms in the market are relatively inflexible. Finally, we explore whether new entrants use their tax edge as a competitive mechanism. We find new entrants only outperform incumbents in tax planning efficiency when competition is strong, and not when competition is weak.

Americans keep hearing that there is no need to protect against vote fraud, that fraud is either non-existent or extremely rare. We hear that regulations, such as photo voter IDs, are unnecessary and will disenfranchise voters. Yet, the United States is not unique in having this debate. Virtually all of Europe and almost all developed countries require in-person voters to use photo IDs to vote. Indeed, out of Europe’s 47-countries, only the United Kingdom hasn’t required photo IDs to vote in their entire country, but that is about to change. Similar in-person rules exist for most developed countries. The vast majority of countries ban absentee ballots for people living in their country. While some point out that eight of Europe’s 47-countries allow for proxy voting, where you can designate someone to vote on your behalf, the safe-guards used to prevent fraud are generally far more stringent than used for absentee ballots in the US. Other countries have discovered widespread voter fraud when safeguards are not used. They also understand that relying on conviction counts is unlikely to catch the vast majority of fraud that occurs. The question is: why is the US so unique in terms of not guarding against vote fraud?