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Using a policy tracing approach, we analyse the legislating of the Strategic Aboriginal Water Reserve (SAWR) in the Northern Territory, Australia. The SAWR is a share of the consumptive pool alloca...

El objetivo de este trabajo es estudiar los efectos de la existencia de tasas reducidas, bienes a tasa cero y exenciones del IVA en Argentina sobre los precios de los bienes (efectos sobre la eficiencia económica), el impacto distributivo y la eficiencia recaudatoria. El impuesto al valor agregado se ha constituido a lo largo del tiempo en un tributo clave de la estructura impositiva argentina, con una recaudación de 7.36% del PBI en el año 2018 y una participación en el total de recursos tributarios del 32.6%. La eficiencia “C” es del 47%, lo que muestra que el potencial recaudatorio del IVA es importante y cualquier posible reforma tributaria debería poner el foco en la mejora del diseño e implementación de este impuesto., The aim of this paper is to study the effects of the existence of reduced rates, zero-rate goods and VAT exemptions in Argentina on the prices of goods (effects on economic efficiency), the distributive impact and collection efficiency. The value added tax has become over time a key tribute to the Argentine tax structure, with a collection of 7.6% of GDP in 2018 and a share in total tax resources of 32.6%. Efficiency “C” is 47%, which shows that the potential for VAT collection is important and any possible tax reform should focus on improving the design and implementation of tax., Facultad de Ciencias Económicas

Third-party litigation funding is increasingly used to finance legal claims in investor-state dispute settlement, with financiers funding investor claims against sovereign states in exchange for a share of potentially substantial compensation rendered in eventual arbitral awards. A chiefly unregulated phenomenon, third-party funding has been perceived especially controversial in the context of the investment arbitration regime, a system some allege is already ingrained with inequities. Third-party funding raises numerous policy questions, such as conflicts of interests, disclosure, costs of the proceedings, and even the entire permissibility of the practice in investor-state dispute settlement. This review raises various issues and concerns related to third-party funding in investor-state dispute settlement and presents the regulatory efforts and criticism thereof with regards to the reform of rules of both the International Centre for Settlement of Investment Disputes and the United Nations Commission on International Trade Law., Kolmannen osapuolen rahoitusta käytetään enenevissä määrin kanteiden rahoittamiseen sijoittajan ja valtion välisessä riitojenratkaisussa eli ISDS-menettelyssä. Kanteiden rahoittamisen ​​vastineeksi kolmas osapuoli eli rahoittaja saa osan onnistuneesta kanteesta maksettavasta mahdollisesti huomattavasta korvauksesta. Kolmannen osapuolen rahoitus on pääosin sääntelemätön rahoituskeino ja se on nähty erityisen kiistanalaisena kansainvälisen investointisuojajärjestelmän kontekstissa. Rahoituskeino nostaa esille lukuisia sääntelykysymyksiä, kuten rahoituksen aiheuttamat intressikonfliktit, rahoituksen julkistamisen, kustannusten jakamisen sekä myös kysymyksen rahoituskeinon sallittavuudesta ISDS-menettelyissä. Tämä katsaus esittelee kolmansien osapuolten rahoitukseen liittyviä kysymyksiä ja ongelmakohtia ISDS-menettelyissä ja käy läpi rahoituskeinoa koskevat ICSIDin ja UNCITRALin välimiesmenettelysääntöjen muutosehdotukset sekä niitä kohtaan esitetyn kritiikin.

The article examines the problem of comprehensive official reporting on public sector debt. It considers the IMF toolkit for public debt statistics, the peculiarities of its practical use and inherent methodological issues influencing the quantitative assessments. Estimates of the total liabilities and liquid assets for the components of the Russian public sector are given, which show, inter alia, the increase of the total liabilities of the largest state-owned enterprises (as a share of GDP) since 2016, first of all, due to the growing share of stateowned banks in the banking sector. The importance of regular monitoring and review of the public sector liabilities and assets is substantiated.

Purpose Although many studies explored the drivers of innovative development and the innovation performance of different countries, very few studies looked at the association of the country’s GII score with the qualitative indicators of innovation performance. The purpose of this paper is to contribute such an investigation by looking at the Republic of Kazakhstan (79th in 2019 GII ranking). Design/methodology/approach This study looks at eight dynamic variables, among which one dependent (the GII score) and seven independent (R&D spending, innovation grants, the total cost of innovative goods and services, the percentage of innovative organizations, the share of innovative goods and services in gross domestic product (GDP) and the number of R&D staff and R&D institutions) variables associated with innovation performance. Changes in variables were tracked over the period from 2010 to 2018.. Findings The study found that the Kazakhstan’s GII score was reliant on variables, such as the percentage of innovative organizations, the value of innovative goods and services as a share of GDP, R&D spending and the cost of innovative goods and services. At the same time, the number of R&D institutions, innovation grants and number of R&D staff had no substantial impact on the GII score of Kazakhstan. Originality/value Using the proposed approach, this study proved that factors, which have no direct association with the country’s level of innovative development expressed in GII, could have a significant synergistic impact on this indicator.

Behaviours whose primary function is not signalling can convey information that other individuals can use to make relevant decisions. In cooperatively breeding vertebrates, feeding young that are not own offspring typically provides indirect fitness payoffs, but group members may also benefit directly by advertising their contribution to their social mates, to either increase their ‘social prestige’ or obtain a share of territory commodities (‘pay to stay’). Evidence of such a signalling component of brood provisioning, however, remains controversial. In the cooperative society of carrion crows, Corvus corone, male subordinates have little chance of independent reproduction and do the best of a bad job by helping to raise the current brood. The value of future reproduction is instead higher for subordinate females, which, because they have better prospects of finding a breeding vacancy, generally invest less than males in helping at the nest. Under these circumstances, dominants are expected to be more vigilant over the contribution to brood provisioning by female subordinates, which in turn, might need to show their helpfulness to retain group membership. In accordance with this idea, we found that female retained offspring increased the ‘visibility’ of their contribution by provisioning in front of the dominant breeders significantly more than any other category of group members. In addition, retention of group membership for female offspring was associated with their perceived effort in chick feeding. Our results are consistent with the hypothesis of ‘pay to stay’ and suggest that a signalling component of helping can arise in a ‘typical’ kin-based cooperative society.

As ports play a very important role in the national and international flow of goods, with the development of international trade, they face many challenges such as operational congestion, pollution, energy consumption and safety and security issues. Therefore, ports need to increase their operational efficiency and also pay attention to sustainability principles. The smart port is a digital transformation that adopts new technologies to improve efficiency and environmental issues. Existing ports and new ports have to be transformed into smart ports so that countries can get a share from international logistics. Smart port applications vary according to ports characteristics, as port needs are different. Thus, it is necessary to analyze ports to develop compatible smart port applications. However, in the literature, there is a lack of studies focuses on the smart port. The main purpose of this study is to examine smart port dimensions by considering Filyos Port. We have used fuzzy AHP for ordering each dimension and sub-dimensions to relative importance. The findings of the study show that operation is the most crucial factor, which is followed by environment, energy, finance and safety and security, respectively. Finally, we offered suggestions for each smart port dimensions., Limanlar, ulusal ve uluslararası mal akışlarında önemli bir rol oynamaktadır. Limanlar, operasyonel tıkanıklık, kirlilik, enerji tüketimi ve emniyet ve güvenlik sorunları gibi uluslararası ticaretin gelişmesiyle ilgili birçok zorlukla karşı karşıyadır. Bu nedenle limanların operasyonel verimliliklerini artırmaları ve sürdürülebilirlik ilkelerine dikkat etmeleri gerekmektedir. Akıllı liman, verimliliği ve çevre sorunlarını iyileştirmek için yeni teknolojileri benimseyen dijital bir dönüşümdür. Ülkelerin uluslararası lojistikten pay alabilmesi için mevcut limanların ve yeni limanların akıllı limanlara dönüştürülmesi gerekmektedir. Liman ihtiyaçları farklı olduğundan, akıllı liman uygulamaları limanlara göre farklılık göstermektedir. Bu nedenle, uygun akıllı liman uygulamaları geliştirmek için limanları analiz etmek gerekmektedir. Literatürde akıllı limana odaklanan çalışmalar yetersizdir. Bu çalışmanın temel amacı, akıllı liman boyutlarını Filyos Limanı’nı dikkate alarak incelemektir. Her boyutu ve alt boyutu göreceli öneme göre sıralamak için bulanık AHP yöntemi kullanılmıştır. Çalışmanın bulguları ise operasyonun en önemli faktör olduğunu ve bunu sırasıyla çevre, enerji, finans ve emniyet ve güvenliğin izlediğini göstermektedir. Son olarak, çalışmada akıllı liman boyutlarına yönelik öneriler sunulmuştur.

Editorial board members (EBMs) of academic journals have been frequently studied for better understanding the principles of their functioning, impact on editorial policy, publication ethics, and entire scientific progress. One of the promising trends is to quantitatively evaluate the contribution of EBMs to the scholarly output of parent journals. This paper represents the results of the study on publication activity of editorial board members of the Russian Library and Information Science journals. To detect a share of papers by EBMs in the journal’s scholarly output, we studied a share of EBMs papers in parent journals and other sources. Generally, we detected the active participation of EBMs in increasing scholarly output of parent journals. We also studied the publication activity of foreign members of EBMs in Russian journals that turned out to bedramatically low. Formal involvement of foreign researchers to enhance the level of journal’s internationalization may explain this situation. It is shown, that the fact of publication fails to significantly impact on journal’s ranking positions. The scientific quality of EBMs papers has proved to be of higher value: in case of high quality of EBMs papers, the number of readers and citations start to increase. On the other hand, uncited papers by EBMs have the lowest or even negative effect on the journal’s rank. The findings can be of interest to editors-in-chief and founders of academic journals.

The authors of the article have analyzed the understanding of ownership as a central entity and the main regulator of economic relations within a joint-stock company. It has been stated that ownership is associated with such categories as «property» and «right», which raises a considerable number of methodological issues originated by the formation of joint-stock companies’ ownership and shareholders rights in relation to the ownership. Particular attention has been paid to the fact that ownership in such a company as an economic category performs a certain function, which consists in the formation of a considerable amount of capital on the most profitable for all persons involved in this process, in order to its maximum profitable use. It has been noted that if we talk about the ownership of a joint-stock company, then it is formed by the issue of shares, and accordingly, the company, which is interested in attracting significant funds, conducts open placement, the proceeds of which are accumulated to use in its business activities. The authors have provided arguments in favor of other positive aspects of stock ownership that make it universal and capable of application wherever there is the need to accumulate significant amounts of funds and limit the scope of liability. It has been concluded that ownership in a joint-stock company as an economic category performs a certain function, which makes it not only an economic, but also a legal category. This function is to generate a large amount of capital in the most profitable terms for all persons involved in this process, for its maximum profitable use. The category of «stock ownership» is used when referring to the legal regime of ownership in a joint-stock company — the ownership rights of the shareholders for the shares and the ownership rights of the company for the property, which in their implementation intersect and affect one another. It has been supposed that the most appropriate model, to which stock ownership tends, is confidential property, ideology and practices of trusts. However, it is quite clear that its application in Ukraine in the present state of legal regulation is hardly worth supporting.

In upcoming years, the introduction of autonomous vehicles (AVs) will reshape the transport system. The transition from a regular to an autonomous transport system, however, will take place over many years and lead to a long period with a mixed driving environment where AVs and regular vehicles (RVs) operate side by side. The purpose of this study is to investigate how the utilisation of the road capacity degrades as a function of heterogeneity in congested motorways. The analysis is based on a dedicated traffic simulator, which enables the investigation of complex dynamic spillback from congestion while allowing for different degrees of heterogeneity. The representation of autonomous vehicles is based on a modified intelligent driver model (IIDM) presented by Treiber et al. (Phys Rev E 62(2):1805–1824, 2000) and Treiber and Kesting (Traffic flow dynamics, Springer, Heidelberg, 2013), while the behaviour of drivers of RVs relies on a stochastic version of the IIDM. Three main conclusions stand out. Firstly, it is shown that in an idealised environment in which AVs operate alone, a substantially improved capacity utilisation can be attained. Secondly, when drivers of RVs are mixed with AVs, capacity utilisation degrades very fast as a function of the share of RVs. Thirdly, it is shown that the improved capacity utilisation of AVs comes in the form of reduced travel time and increased throughput, with indications that travel time reductions are the most important. From a strategical planning perspective, the results underline that dedicated lanes are preferable to attain the positive effects of AVs. Specifically, we compare a stylised situation with three lanes with a share of 33% AVs to a situation with two regular lanes and a single dedicated AV lane. The latter represents a tripling in consumer surplus all other things being equal.

Dependency on forest resources poses a threat to the environment in Patharghata, Bangladesh. Therefore, this study explores the role of forest resource in the life and livelihood of coastal people as well as to understand the effectiveness of forest and status of forest dependency in and around south-central coast in Patharghata, Bangladesh. We collected data randomly from 105 household heads through both open and close-ended questionnaire. To investigate the forest dependency and people’s perception regarding alternative solutions, Microsoft excel software program has been applied. The findings reveal that usage of fuelwood in cooking, housing structure, fish catching, honey & fodder collection significantly contributes to household dependency on forest resources, while other variables seem to be insignificant. Our study amplifies that the share of forest income to the total household income was only 19% while other earning sources provided 81% income. The result shows that respondent people collect forest resources primarily for cooking purpose with a share of 71% where 9% forest resources are collected as fodder followed by 8% forest resource collection as food and sheltering purposes. Moreover, the study found that using alternative cooking system, artificial instruments, declaring the forest as tourist spot, changes in housing structure, occupation are some effective options to reduce forest dependency. The study concludes that these alternative options need more financial and other support from the government, non-government and other civil society organizations to cut down forest resource dependency.

Jewelry has a history of thousands of years, but contemporary art jewelry has only a short history of 30 years. In this short 30 years, Chinese art colleges have successively opened this major, and the market of contemporary art jewelry is increasingly welcomed by people. Jewelry market has changed from a traditional market to a fashion market that reflects personal aesthetics (Di, 2008). People’s demand for jewelry is not only the decorative effect, but also the jewelry reflecting its aesthetic relationship. The future of contemporary art jewelry will gradually occupy a share of the jewelry market. From the international jewelry market to the Chinese jewelry market, the economic aggregate is changing, the consumption of traditional jewelry is decreasing, and contemporary art jewelry is gradually becoming the consumption object (Zheng, 2002). The purpose of this study is to explore the impact of perceived value on consumers’ purchasing behavior, and perceived value is the most direct factor affecting consumers’ purchasing behavior. Perceived value mainly includes functional value, perceived cost and image value. Purchase behavior mainly includes: purchase frequency, purchase price, purchase amount. In this study, we obtained 400 questionnaires from residents of Beijing, China, and analyzed the questionnaire results through SPSS one-way ANOVA, weight analysis and basic analysis. Research results: The perceived value has a significant influence on the consumption behavior of contemporary art jewelry.

This paper mainly studies whether the inclusion of China’s A-shares in the MSCI (Morgan Stanley Capital International) index improved the trading activity. Taking all China’s A-share stocks as samples and using the trading data of four years from 2016 to 2019, this paper designs corresponding Difference-in-Difference models and conducts empirical research. It is found that the inclusion of MSCI index does reduce the turnover rate of stocks and the level of activity in stock trading decrease. Two reasons account for this: on the one hand, institutional investors with more long-term capital and more robust investment styles have entered into A-share market; on the other hand, investors have become relatively more consistent in the value of the MSCI component stocks because of the highly recognition of global capital markets.

With the development of fintech and artificial intelligence, machine learning algorithms are widely used in quantitative investment. Based on the listed companies in China A-share market from February 2005 to July 2020, quantitative stock selection models with machine learning algorithms are established to obtain continuous alpha returns. The results show that machine learning algorithms can effectively identify the relationship between factors and returns and then improve the performance of the quantitative stock selection model. China A-share market is a weak-form efficient market. By mining the factors that are not fully digested by the market, continuous alpha returns can be obtained. The ensemble algorithms represented by the extremely randomized tree (ET) and light gradient boosting machine (LGBM) perform best in stock market prediction.

[...]in the post-election 2015 Summer Budget, Chancellor Osborne announced a Charter for Budgetary Responsibility (HM Treasury, 2015). First of all, the political and economic cycle simply do not coincide, so tying fiscal policy to a Parliamentary term is doomed to failure. 2. [...]business cycles, like unhappy families, are each different in their own way. [...]there is no satisfactory definition of the objective of fiscal policy that meets a social welfare objective;at times, the appropriate response might mean increases or decreases in public debt as a share of national income.

In recent years, China's agricultural listed companies have developed rapidly. This paper studies the operating efficiency of listed agricultural companies in China. exploring the factors that affect the operating efficiency of listed agricultural companies, and proposes targeted countermeasures for the development of listed agricultural companies. And give some suggestions to Korean agricultural companies and A share investors. This paper uses the DEA model, selects the 40 best-developed Chinese agricultural listed companies in 2018 as a sample, analyzes the operating efficiency of these companies, and added two new input variables: asset impairment losses (AIL) and business tax and surcharge (BTS), which will also have an impact on operating efficiency. This paper can provide reliable suggestions for the development of agricultural listed companies, and thus guide the healthy operation of agricultural companies.

The article examines the influence of freight transportation technology on special conditions according to the schedule of route trains on the quantitative and qualitative indicators of the operational work of the railway system of Ukraine. The calculations of the components of the freight car turnover are carried out. It was found that the strategy of routing, transportation by RRMP and coordination of loading and unloading terms significantly reduced the downtime of the car under freight operations. The analysis of indicators shows that the implemented technology of cargo transportation according to the RRMP allowed in 2019 to achieve a reduction within the busy flight of the number of technical stations from five stations in 2018 to 4.7 in 2019. The comparative analysis of technical and district speed is carried out and the speed coefficient is calculated. According to the analysis of the change in the speed factor, it can be stated that the ratio of precinct to technical speed remained unchanged in 2019 compared to 2018, which may indicate the lack of impact of transportation technology on dispatching, which was essentially unchanged for two years. Simulation according to the analytical approach of change of turnover of a freight car at increase in a share of transportations of freights under contracts on special conditions is executed. Calculations prove that with the increase of the share of cars of the working fleet, organized in the transportation of goods by RRMP in the element of car turnover - simple car at technical stations, can significantly reduce the overall turnover of the car. The influence of the technology of transportation according to the schedule on the reduction of the most significant element in the turnover of the car - the downtime of the car under freight operations.

This study, aims to determine the factors affecting the tourism demand intended Turkey from OECD countries. Tourism demand can vary according to the social, political and economic development of the countries. OECD countries were preferred in order to include countries with similar characteristics in the study. The constant increase in travel movements that are the source of Tourism causes countries that want to take a share of the tourism market to care more about the demand for tourism. In this sense, the study is important in terms of providing information about the tourism demand from the main elements that will allow Turkey to take a share of the tourism market. Panel data analysis was used in the study. In the analysis of the data, ordinary least squares, fixed effects and random effects models were used with the STATA program. 26 years of data from OECD countries were analyzed. From the factors that may affect the tourism demand intended Turkey , socio-demographic, tourism and travel and technological variables were included in the analysis. According to the results of the study, it was found that these variables affect the demand for tourism in Turkey in different directions and with different severity.

Introduction. Labor migration of Kalmykia’s rural population is a pressing challenge for the region. Permanent nature and endurance of the socioeconomic crisis in the agricultural sector of the republic have been adversely affecting the living standards of ordinary villagers. Lack of work opportunities and low salaries result in that the latter migrate en masse to the regional capital and even further. Goals. The study aims to analyze labor migration experiences of local rural dwellers. Materials and Methods. The paper summarizes a number of in-depth structured interviews. The qualitative research methods employed make it possible to view the issue in the eyes of unrelated actual participants of the migration processes, with certain attention paid to their backgrounds and life paths. Results. The work reveals one of the key economic factors underlying labor migration is the necessity to pay mortgage and consumer loans. And migration waves closely align with individual life cycles, such as marriage, divorce, births and even weddings of children. Some respondents reported their migrations were determined by certain adulthood stages of children. All these aspects give rise a new context of family and marriage relations: there emerge guest marriage patterns and changes in gender roles, e.g., in some families those are women who act as migrant workers. Roles of grandparents experience transformations forcing the latter to assume functions of the absent father of mother. Horizontal social networks come to the fore, including territorial and kindred ties. Such migrant labor experiences become a tool of economic strategies and mobility: people purchase dwellings in the city, and support children funding their plans with the earned money. So, migration of parents definitely serves a landmark for future migrations of their descendants. The results obtained attest to that the social profile of rural labor migrants contains quite a share of active individuals intensely motivated to work, ones who strive for better living standards and can adjust themselves to strenuous living / working conditions staying away from home and family.

Canada spends more than Italy on health per capita and as a share of GDP and has a higher per capita GDP. Yet, life expectancy and infant mortality in Italy are better and have improved more over time. The implication is that the Italian health care system provides better value for money. We examine whether Italy does get better health outcomes at lower costs. Using regression analysis, we find that health spending is determined by similar drivers in both Canada and Italy. We also find that more social spending and health spending in either country do not satisfactorily explain the differences in health outcomes, suggesting the importance of broader socio-economic determinants like income and life-style choices. We conclude that while the levels of per capita health spending in Canada are higher than Italy, this partly reflects historical inertia in Canadian health spending partially attributable to the higher costs of health professionals relative to Italy.

Islamic finance is a financial concept based on Islamic sharia. The underlying principle of Islamic finance is the prohibition of usury, gharar and masyir. In addition to these principles, the concept of Islamic finance which is built on the basis of justice makes many people tend to choose Islamic finance rather than conventional. In this article, we will discuss the Sharia investment model with a profit-loss sharing scheme as an alternative model to replace the practice of lending money at high interest by moneylenders in traditional markets (Rentenir scheme). Both models are applied in a lending transaction between traders and investors with a share of the results in the profit-loss sharing model of 5% and interest on loan repayments for the loan sharks of 20%. Furthermore, from each model the acquisition value is calculated in the form of the optimal portion / profit ratio for each trader and investor. The results obtained indicate that the earnings obtained by traders for the Sharia model are greater than those from the Rentenir model. Furthermore, the acquisition value of investors for the Sharia model is minus and the acquisition value of investors from the Rentenir model is 25.56%. The acquisition value of investors from the Rentenir model is very high, while in the Sharia model, investors experience losses. From these two parameters it can be concluded that the Sharia model with a profit sharing scheme is a model that benefits small traders, while the Rentenir model is a model that needs to be avoided because it is detrimental to traders and also uses the concept of usury which is forbidden in Islam.

The beta anomaly indicates that high-beta stocks earn low future returns. We confirm the existence of the beta anomaly in the Chinese A-share stock market and propose that heterogeneous beliefs and...

After a relatively liberal period for foreign direct investment in the Republic of Slovenia, the enactment of the Act Determining the Intervention Measures to Mitigate and Remedy the Consequences of the COVID-19 Epidemic in May 2020 ushered in a significant change. It is not entirely clear why the government, while drafting the bill, decided to place the regulation of control over foreign direct investment under the intervention measures law, which addresses the consequences of the epidemic. A substantive analysis of the new arrangements for screening and controlling foreign direct investment reveals that the legislation was not carefully drafted. The definition of basic concepts and validity of the unique system for persons from the EU member states are already controversial. The Act is awkwardly drafted in terms of specifying a direct capital investment in the form of acquiring a share in a company with its registered office in the Republic of Slovenia. The conditions and procedure for revoking the consent authorising foreign direct investment are poorly regulated. Additionally, interpreting the Act to mean that the revocation of foreign direct investment can also be applied to foreign investments made before it came into force, that is, with a retroactive effect, is extremely controversial.

The Swiss healthcare financing system is on the verge of one of its largest reforms. The Swiss parliament is currently debating how to reallocate about 20 % of total health expenditures. Swiss cantons make substantial tax-funded contributions to health expenditures by paying 55 % of hospital inpatient costs. As health insurers are fully responsible for all outpatient costs, the present system may provide unintended incentives to treat patients in inpatient settings. This paper presents and evaluates three alternative reform proposals for the reallocation of the cantonal contribution. Two proposals are currently under consideration in the Swiss parliament, suggesting either partial cost-sharing (20 %) of all healthcare costs or inclusion of cantonal contributions into the risk-equalization fund. A third option is developed in this paper, which proposes using the cantonal funds to pay a share of insurer's expenses above a high-cost threshold. The high-cost risk-sharing alternative is clearly superior: it mitigates the incentive to discriminate against sicker individuals, improves incentives for cost control, and reduces risk of loss for insurers. The paper adds results from Switzerland to an international literature on the properties of adding high-cost risk sharing to a risk equalization model.

Despite advances in recognition of women’s rights, they are still victims of everyday violence. National and international regulations on gender equality and the promotion of female political participation had a low impact on the underrepresentation of this minority. Law produced without a share of citizenship lacks democratic legitimacy. Mexico and Brazil have a similar history of excluding women from the public sphere, but they currently have different strategies to overcome this democratic deficit. The article, with a descriptive methodology, presents the history and the present situation in both countries. We conclude that there are different ways to increase the representation of women in politics, but parity is a demand for justice. Resumo Apesar dos avanços no reconhecimento dos direitos das mulheres, elas ainda são vítimas de violências cotidianas. As normativas nacionais e internacionais sobre igualdade de gênero e promoção da participação política feminina tiveram baixo impacto na sub-representação dessa minoria. O Direito produzido sem uma parcela da cidadania carece de legitimidade democrática. México e Brasil têm uma história similar de exclusão das mulheres na esfera pública, mas apresentam atualmente estratégias distintas para superar esse déficit democrático. O artigo, com uma metodologia descritiva, apresenta a história e a situação atual nos dois países. Conclui-se que há diferentes caminhos para incrementar a representação de mulheres na política, mas a paridade é exigência de justiça.

In the timber industry complex of Russia, medium-sized and small enterprises with a volume of timber harvesting up to 100 thousand cubic meters per year occupy a share of 48 % in the total volume. Most of these enterprises do not have the capacity to purchase new harvesters. An alternative to the new harvesters are the harvesters from the secondary market. Thus the study of changes in the technical condition of harvesters during their operation is an actual study for Russia. The data on the models, age, number of hours worked and the cost of harvesters that are offered on the secondary market was collected. 202 commercial offers were collected. In total there are 31 harvesters under 5 years of operation; 99 harvesters from 5 to 10 years of operation; 56 - from 10 to 15 years of operation; and 16 - older than 15 years of operation. There are 73 John Deere harvesters (including the outdated Timberjack models), with 8 tracked vehicles, 29 Ponsse harvesters; 49 Komatsu harvesters (including the outdated Valmet models) with 4 harvesters based on a tracked excavator; 37 harvesters of different models made on the basis of tracked excavators and 18 harvesters of other models. Hypothetically assuming that there is a connection between the price of the harvester and its condition, correlations were analyzed between the price and the age of the harvester and between the price and the number of worked hours of the harvester. The relationship between the price and the age is described by power and exponential curves, with coefficients of determination of 0,56 and 0.54, respectively. Filtering data by power range (160-205 kW) and by model (three models were considered: John Deere 1270; Ponsse Ergo; Komatsu 931) did not lead to clear certainty about the form of regression, although it slightly increased the coefficient of determination. There are groups of factors that can influence the type of regression: the seller's factor, the repair factor, the operation factor, and the technical characteristics factor, but determining the degree of influence of these groups requires additional research. The dependence between the price and the number of worked hours is characterized by a very weak relation due to a large spread of data owing to incorrect values of the hours marked by sellers. General regression trends for harvesters are consistent with data for other types of tractors. But to determine unambiguity in regressions requires the accumulation of empirical data on the reliability of machinery and changes in their price over a number of years.

In the course of the ongoing reform of civil legislation the Civil Code of Russian Federation was amended in 2018, including Art. 256 (paragraph 2, item 4) regarding the legal fate of common joint property of spouses after the death of one of them. In the notarial practice the question arose in this regard as to whether the surviving spouse can be considered the owner of the property in the absence of state registration of the ownership right and, accordingly, in the future to be the heir to such property. This predetermines the question about the meaning of the state registration itself as a legal procedure in civil proceedings. It is concluded that the state registration for the case of paragraph 2, item 4 of Art. 256 of the Civil Code of the Russian Federation is not of a legal nature and has a procedural meaning of formalization of legal relations. Thus, this is one of the exceptions from the general rule on the need for state registration for the recognition of the existence of ownership of real estate.

The pre‐conceived idea that contracts in a public–private partnership (PPP) regime, in healthcare or in any other economic sector, are, as a rule, ruinous and appealing for only a share of the stakeholders, lacks a solid basis that confirms it. This idea, outset and nurtured by the media, has been instigating the distrust of the users who, in turn, demand a more rigorous and efficient utilisation of public resources. Being Portugal in the top of countries that resort to PPPs, it is urgent to inquire if its respective contracts originated an inefficient and ineffective management of resources. It is precisely this discussion that we address in this paper, focusing our efforts in the Portuguese healthcare sector.

The problems regarding the legal standing of an out-of-wedlock child that demands inheritance rights from both biological parents. The purpose of this thesis are to find out about the legal standing regarding the relationship between out-of-wedlock children and how the inheritance rights of an out-of-wedlock child in the distribution of inheritance by both biological parents are related to the Constitutional Court Decision Number 46/PUU-VIII/2010 in terms of civil inheritance law. The type of research used in this journal is Normative Juridical. The problem approaches used in writing this paper are the Statutory Approach and the Conceptual Approach. The legal material used is primary legal material and secondary legal material. This research of the problem after the Constitutional Court's Decision Number 46/PUU-VIII/2010 can be concluded that the out-of-wedlock child has not only a civil relationship with his mother but also with his biological father if he/she can prove it with science and technology and in inheritance issues, the child out of wedlock in terms of civil law must be recognized by his biological father so that he/she can become an heir, but with the Constitutional Court Decision Number 46/PUU-VIII/2010, the out-of-wedlock child can get not only a share of the inheritance from his mother who is without recognition but also inheritance from his/her biological father if it is proven to have a civil relationship as evidenced by science and technology

PurposeThe significant impact of innovation in stimulating economic growth cannot be overemphasized, more importantly from policy perspective. For this reason, the relationship between innovation and economic growth in developing economies such as the ones in Africa has remained topical. Yet, innovation as a concept is multi-dimensional and cannot be measured by just one single variable. With hindsight of the traditional measures of innovation in literature, we augment it with the number of scientific journals published in the region to enrich this discourse.Design/methodology/approachWe focus on an approach that explores innovation policy qualitatively from various policy documents of selected countries in the region from three policy perspectives (i.e. institutional framework, financing and diffusion and interaction). We further investigate whether innovation as perceived differently is important for economic growth in 25 economies in sub-Saharan Africa over the period 1990–2016. Instrumental variable estimation of a threshold regression is used to capture the contributions of innovation as a multi-dimensional concept on economic growth, while dealing with endogeneity between the regressors and error term.FindingsThe results from both traditional panel regressions and IV panel threshold regressions show a positive relationship between innovation and economic growth, although the impact seems negligible. Institutional quality dampens innovation among low-regime economies, and the relation is persistent regardless of when the focus is on aggregate or decomposed institutional factors. The impact of innovation on economic growth in most regressions is robust to different dimensions of innovation. Yet, the coefficients of the innovation variables in the two regimes are quite dissimilar. While most countries in the region have offered financial support in the form of budgetary allocations to strengthen institutions, barriers to the design and implementation of innovation policies may be responsible for the sluggish contribution of innovation to the growth pattern of the region.Originality/valueSegregating economies of Africa into two distinct regimes based on a threshold of investment in education as a share of GDP in order to understand the relationship between innovation and economic growth is quite novel. This lends credence to the fact that innovation as a multifaceted concept does not take place by chance – it is carefully planned. We have enriched the discourse of innovation and thus helped in deepening understanding on this contentious subject.

Research summaryResearch has examined how “economizing” and “strategizing” mechanisms interact in driving competitive outcomes, but the role of coalitions in this process has received little attention. Coalitions are formed to create more value (i.e., economizing) and to strengthen competitive positions (i.e., strategizing). Based on a formal coalitional model, we derive several unintuitive results. We show that economizing actions may backfire because creating more value may lead other players to strategize more aggressively, offsetting the additional value creation. Moreover, creating countervailing power—that is, building a coalition against players with significant power such as monopolists—not only allows the coalition to appropriate more value, but may also benefit the powerful trading partner by reducing competition among the coalition members. Coalition‐formation can hurt coalitions members by reducing economizing investments.Managerial summaryManagers typically seek competitive advantage either by improving efficiency (by having unique resources, lowering costs, or improving managerial practices) or by trying to obtain stronger bargaining positions against their buyers or suppliers. We show that these two approaches interact in surprising ways. For example, efficiency improvements create more opportunity for profit, but also give trading partners stronger incentives to bargain for a share of that profit. At the same time, small buyers or sellers can band together into clubs or cooperatives to get better deals from a powerful trading partner, thereby restraining competition among themselves. However, large firms can try to prevent such coalitions from forming by pursuing vertical integration of potential coalition members. We explore a variety of bargaining situations and show that the ability to encourage or thwart coalition formation is an important managerial tool, Research summary: Research has examined how “economizing” and “strategizing” mechanisms interact in driving competitive outcomes, but the role of coalitions in this process has received little attention. Coalitions are formed to create more value (i.e., economizing) and to strengthen competitive positions (i.e., strategizing). Based on a formal coalitional model, we derive several unintuitive results. We show that economizing actions may backfire because creating more value may lead other players to strategize more aggressively, offsetting the additional value creation. Moreover, creating countervailing power—that is, building a coalition against players with significant power such as monopolists—not only allows the coalition to appropriate more value, but may also benefit the powerful trading partner by reducing competition among the coalition members. Coalition-formation can hurt coalitions members by reducing economizing investments. Managerial summary: Managers typically seek competitive advantage either by improving efficiency (by having unique resources, lowering costs, or improving managerial practices) or by trying to obtain stronger bargaining positions against their buyers or suppliers. We show that these two approaches interact in surprising ways. For example, efficiency improvements create more opportunity for profit, but also give trading partners stronger incentives to bargain for a share of that profit. At the same time, small buyers or sellers can band together into clubs or cooperatives to get better deals from a powerful trading partner, thereby restraining competition among themselves. However, large firms can try to prevent such coalitions from forming by pursuing vertical integration of potential coalition members. We explore a variety of bargaining situations and show that the ability to encourage or thwart coalition formation is an important managerial tool.

The wealth possessed by households, identifiable as so-called net worth, varies greatly in quantity and form between different socioeconomic contexts. We describe several forms of wealth typically owned by consumer households, considering their economic and social effects. We analyze the economic role of the wealth forms that compose the households’ net worth (real and financial assets minus the debt) in a panel data analysis of Italian regions, and we suggest a possible alternative use for a specific part of household net worth. In particular, the well-known financial share is already useful and exploited by the economic system, as confirmed empirically. Instead, a share of the real assets could prove useful as a source of support for the economy if some conditions are met. The results of the regional analysis illustrate the supposed lack of contribution and we suggest how the net worth not “fully exploited” could be integrated in the economic cycle, activating a propulsive mechanism to start “accelerated” growth processes.

This paper aims to provide a macro perspective to explanations of the AH premium, that is, the A and H share price differences of cross-listed companies, particularly the surge of the AH Premium In...

Polish farms are burdened with the following taxes: agricultural tax, forestry tax, property tax, motor vehicle tax, VAT, and excise tax. The research showed that small farms suffered losses in the years 2014-2018. However, income made by small farms (income of EUR 8,000 to 25,000) was burdened with all taxes ranging from 29.9% in 2014 to 67.05% in total. In 2018, middle-sized farms with income between EUR 50,000 and EUR100,000 had a share of all taxes in their income of about 4-6%. Very large farms (>EUR 500,000 of income) had a symbolic tax burden of ca. 1%. In the case of the tax burden on farms’ revenues, very small and small farms were in the worst situation, similarly as before. They recorded ca. 2.7% of taxes in their revenues. The medium-sized farms had a burden of ca. 1% of their revenues with all taxes. By contrast, the revenues of very large farms were burdened with symbolic taxes in the amount of ca. 0.2%. In this situation, while maintaining the current tax burden borne by farms, it should be remembered that the income tax rate and the revenue tax rate cannot exceed 5% and ca. 1%, respectively.

The article deals with the practice of observing the pre-emptive rights of shareholders of non-public joint-stock companies and business company participants when alienating shares (stocks) of business companies, including third parties. We are talking about protecting the interests of participants (shareholders) and the company as well as persons alienating the shares. The material is of interest in the formation of a civilized and effective corporate culture. The law provides not only for the right to alienate shares in business companies and non-public joint-stock companies, but also for the forms (methods) of exercising such a right (power). These forms (methods) have an approximate list. Based on the concept of civil law dispositivity, the rightholder can use any method of shares (stocks) alienation that is not prohibited by law. The Civil Code of the Russian Federation1 mentions the ways of transferring shares only in relation to a limited liability company (Article 93). The norms of this Code do not contain any specifics in this regard, thus leaving the issue to special (corporate) legislation. However, corporate legislation does not fully regulate the entire mechanism for transferring a share in the authorized capital or shares to another person. The most common method of share alienation is a share purchase and sale agreement; other methods that are not prohibited by law are considered auxiliary methods. The paper deals with procedural issues involved in using methods of shares alienation in practice. 1 The Civil Code of the Russian Federation (Part one) from 30.11.1994 № 51-FZ (as amended on 16.12.2019, Rev. from 12.05.2020) / / Collection of Legislation of the Russian Federation. 1994. No. 32. St. 3301.

High dependence on a particular category of exports results in fluctuations in income as the price of the export item fluctuates. In Saudi Arabia, a single category of mineral exports forms over 78% of the total exports, exposing the country to revenue volatility. The study aims to assess the magnitude of diversification of the export basket for the country. It uses data from 1984 to 2018 to study the importance of non-mineral exports in total exports. It applies Granger causality, variance decomposition, and impulse response function in the vector autoregressive framework. The study also uses the growth-share matrix to evaluate individual items of non-mineral exports. The results show a long-run relationship with a 1% increase in non-mineral exports, leading to a 0.30% increase in total exports. Non-mineral exports Granger-cause total exports. In the long run, non-mineral exports have a share of 64% of the forecast error variance in total exports. Moreover, a 1% shock in non-mineral exports creates a huge initial impact on total exports. Also, the growth rate of non-mineral products is higher than mineral products. The results indicate the importance of non-mineral exports for a predominantly oil-exporting country. Finally, the study attempts to classify its non-mineral export categories based on growth rates and market shares. Targeted emphasis on export category with a strong growth rate and low market share can be an effective strategy for further export diversification.

The Chinese A share market has recently attracted great interest from global investors because of its size and increased importance to the global financial market. The A share market has unique market characteristics and a regulatory environment that make it challenging for institutional investors. The article examines the efficacies of factor strategies by applying well-known equity factors in China A. It demonstrates that traditional factor strategies, with proper design, can deliver attractive risk adjusted return relative to the cap-weighted benchmark. From the authors’ review of the past literature along with their empirical study, they find that some characteristics of the Chinese stock market influence factor performance and factor strategy design. Notably, the traditional price momentum factor did not work in China A. Instead, a sentiment factor based on return reversal and analyst information can better capture local investors’ behavioral patterns. In addition to carrying out their empirical study, the authors look into a large body of academic research for economic and behavioral explanations of factor anomalies. Their findings provide strong support for factor-based investment strategies in Chinese A shares. TOPICS:Analysis of individual factors/risk premia, factor-based models, style investing, emerging markets Key Findings • The China A stock market has unique characteristics and a regulatory environment that influence factor performance and factor strategy design. • The authors review the academic research on factor investing, discuss the economic and behavioral fundamentals, and show evidence of the factor anomalies in the China A shares. They show that size, value, low vol, and quality factors can deliver attractive excess returns over the cap-weighted benchmark. • The study also finds that the traditional momentum factor failed to deliver positive excess return in the testing period. A sentiment factor is shown to robustly deliver excess returns and may more accurately capture the behavioral patterns that are unique to local market investors.

Does delegation of the budget preparation process to top civil servants improve or worsen fiscal performance? We address this question by analyzing high-quality data on budgetary procedures and fiscal performance over a 25-year period in Norwegian local governments. This long time period allows exploiting substantial variation in budgetary procedures across time and space. The results show that administrative delegation decreases fiscal deficits as a share of current revenues. Compared to procedures relying on political coordination or the traditional ‘bottom-up’ procedure, deficits are approximately 0.3 percentage points lower on average under administrative delegation. Still, this effect is conditional upon the presence of minority governments and fails to materialize when the mayor enjoys majority support in the local council. Our results thus indicate that administrative delegation in budgetary processes may constitute an important tool to alleviate poor fiscal performance arising due to political coordination failures and weak political decision-making.

The renewal of Islamic family law continues to develop over time. So there are many solutions offered by scholars, especially in Indonesia in solving family law. In the field of Islamic inheritance law, there are several reforms, one of which is the wasiat wajibah. Wasiat wajibah is a solution given by scholars to the heirs who are suspended by the Shariah 'to receive a portion of the assets from the heirs that are entitled. Two kinds of heirs who are given the right to receive a share even if it is blocked by the shariah '. First, heirs to non-Muslims, secondly, children out of wedlock and, third, adopted children. They are entitled to inheritance through wasiat wajibah. However, the portion must not be more than 1/3. This is the discussion in this paper

The article deals with the current state, tendencies and prospects of development of scientific bases for the development of the Ukrainian IT-industry, taking into account outsourcing processes to improve the image of Ukraine. Is extremely important for the strengthen of the image of Ukraine. In the process of research, the following methods were used in the article: theoretical generalization and comparison, analysis and synthesis, scientific abstraction. Results. The article discusses the development of outsourcing as a phenomenon and forms of cooperation between the companies. The authors examines the concept of outsourcing, its scope of usage, the evolution of usage in the historical aspect. Discusses the concept and features of IT-outsourcing, the selection of IT-outsourcing as an individual category, and the market of IT- outsourcing as particular sphere. Analyzed the features and the main problems of expansion of IT-outsourcing of Ukraine. Promoted methods of improved efficiency for the IT sector of Ukraine, including, equal number of outsourcing services, who can inflate the ability to diagnose and forecast new products, and to get more information about the business. The indicators of proceeds from realization of IT-services in the world market, in particular, a share of outsourcing services in the directions are given. The comparison of indicators of development of IT-sector companies of USA, China and India is given. Based on the analysis, it is revealed that the main consumer of Ukrainian IT-Services is USA. An important role of institutional factor in development of IT-sector companies is outlined. Attention is focused on the fact that the methods of improving the Ukrainian IT-sector efficiency will allow to diagnose and predict their development, more justified to choose instruments what will ensure the growth of economic efficiency in Industry. The research demonstrates that IT outsourcing, especially during crisis periods, is becoming a key stabilizing factor and an important business optimizationsolution, including the cost reduction for maintaining IT-company's.

Idiosyncratic momentum, like price momentum, is a trading strategy that considers a share’s recent relative performance over the short to medium term. Idiosyncratic momentum differs from price mome...

Increasing investment is often recommended as a prescription for increasing productivity, stoking demand, and addressing other causes of low growth or prospective crises in the U.S. economy. Yet an examination of investment suggests that it is not poised to fill this role. Private sector investment has undergone a slow transformation, shifting from structures and equipment investment, with the latter enjoying a long trend of falling prices, to a rising role for intellectual property, software, and other intangible capital. The high depreciation rate associated with this new capital imposes a drag on net investment and hence on capital accumulation. Public investment remains mostly focused on infrastructure but has fallen in half as a share of GDP since its peak in the 1950s. These trends emphasize the potential importance of new types of private capital and their implications for growth, as well as the declining role of public investment, including federal R&D.

Energy entropy is the "highest" indicator of the state of an organization, developing the ideas of efficiency and value. The integrity of energy entropy implies taking into consideration the level of order in an organization (information entropy) along with the ability to "release" effectively the energy for useful work. Versatility is ensured by the independence on a kind of activity of an organization. The formalization of energy entropy of organizations was proposed. According to the proposed approach, energy entropy is determined by an increase in total energy and its comparison with the "ideal" option; the level of free energy and information entropy that reflects the ability of the organization’s structure to ensure certain results. Incoming and outgoing (free) energy are considered as the main parameters of the organization’s state. Their combination determines the growth of energy, a set of possible combinations – information entropy. The scheme of changes in time of the main "energy parameters" of an organization (total energy, free energy, incoming energy) was identified. Two main variants of energy increase dynamics – uniform growth and growth with acceleration (slowdown) were represented. Experimental studies, which involved considering the most possible variants of dynamics of influencing parameters, were carried out. The effect of different combinations of their dynamics (simultaneous growth/decrease, growth/decrease at different rates) on the dynamics of energy entropy was analyzed. It was established that an increase in a share of free energy does not provide an outflow of energy entropy without reducing a degree of uncertainty of the results expressed in a decrease in information entropy. Conclusions about the necessary dynamics of influencing parameters to ensure the vital activity of an organization according to the energy entropy concept were made

The number of women in the Italian parliament has steadily increased in recent decades, leading to a share of about 36 per cent of female legislators in the Chamber of Deputies in the 18th legislature. However, this result, while attesting to an improvement in the gender balance in the Italian parliament, does not really reflect the considerable increase in the share of female candidates that took place in the run-up to the 2018 elec- tion thanks to the newly introduced quota rule. Accordingly, male and female candidates in national elections seem to have different electoral outcomes. In this article, we empirically investigate gender penalty, understood as a negative effect exerted by gender on female candidates’ chances of winning seats in Parliament. By studying the electoral performance of candidates in the plurality arena at the 2018 elections, we are able to test the presence of differences in the candidates’ chances of being elected; in the share of personalized votes, and in the safeness/competitiveness of sin- gle-member districts, while controlling for a number of candidates’ other characteristics.