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The financial ratios are the key indicators to assess the strength and weaknesses of company performance. In the stock market, capital gain plays a pivotal role to attract investors in the value of a firm's stock investment, while the stock of agribusiness firms becomes a potential outlook to be investigated. The study aims to describe the predictability of capital gain by using financial ratios, namely dividend yield (DY), earnings yield (EY), a book to market (BM), debt-equity ratio (DER), and return on asset (ROA). The panel data model, generalized least square, ordinary least square, is applied to estimate the predictive regression both in separated and combined models. The result discloses that the majority of individual financial ratios can predict future capital gain on agribusiness stock except for the debt-equity ratio (DER). While the book to market value (BM) has the highest predictive power among other variables. Moreover, the predictability of capital gain is considerably enhanced by applying the combination of financial ratios. [ABSTRACT FROM AUTHOR]

We develop an optimal tax-timing model that takes into account asymmetric long-term and short-term tax rates for positive capital gains and limited tax deductibility of capital losses. In contrast to the existing literature, this model can help explain why many investors not only defer short-term capital losses to long term but also defer large long-term capital gains and losses. Because the benefit of tax deductibility of capital losses increases with the short-term tax rates, effective tax rates can decrease as short-term capital gains tax rates increase. [ABSTRACT FROM AUTHOR]

The purpose of this article is to provide advisors with methods of increasing the impact of executive compensation through effective charitable giving strategies. To build a foundation for the proposed strategies, this article will examine the historical significance of both executive compensation and charitable giving, as well as the implications of both lifetime transfers and bequests of stock options. Recognizing the growing prevalence of donor-advised funds in recent years, the article will conclude with a discussion of how advisors can develop holistic charitable giving strategies by leveraging stock options and charitable remainder trusts in conjunction with donor-advised funds. [ABSTRACT FROM AUTHOR]

Recent acoustic analyses examining English in the North American Great Lakes region show that the area's characteristic vowel chain shift, the Northern Cities Shift (NCS), is waning. Attitudinal analyses suggest that the NCS has lost prestige in some NCS cities, such that it is no longer regarded as "standard American English." Sociocultural and temporal accounts of capital loss and dialect decline remain unexplored, however. This article examines F1, F2, and diphthongal quality of trap produced by 36 White speakers (18 women and 18 men) in one NCS city--Lansing, Michigan--over the course of the twentieth century. Results show that trap realization is conditioned by gender and birth year, such that women led the change toward NCS realizations into the middle of the twentieth century and then away from them thereafter. These findings reflect the backdrop of deindustrialization during this time of linguistic reorganization in Lansing and show that as the regional industry--(auto) manufacturing--loses prestige, so does the regional variant, raised trap. This article expands our understanding of North American dialectology by adding the importance of deindustrialization and the Baby Boomer to Generation X generational transition to our discussion of regional dialect maintenance. [ABSTRACT FROM AUTHOR]

Purpose: The paper uses firm level data for the top listed firms in New York exchange stock over the period 2000–2017. The analysis is mainly based on 237 firms that already experienced losses at the end of the fiscal year. The study aims to use the properties of the dynamic panel data, specifically the methodology proposed by Arenllo and Bond (1991), to fulfill the objectives of the paper. Design/methodology/approach: This paper focuses on the dividend policy management of the firms when they experience a loss at the end of the fiscal year. The objective is to examine how such a policy management affects the sustainability of the firm (measured by the future sales and total factor productivity[TFP]) and the wealth of its shareholders (measured by the Stock Returns). Findings: The results show that the distressed firms that distribute dividends at the end of the loss period are able to maintain sustainability and to reach more favorable wealth situation of their shareholders relative to the firms who abstain to pay; the dividend policy during periods of loss is still able to send positive signals about the firm in the market; and the dividend policy can be considered as a predictive indicator for a sustainable firm whose shareholders can also predict their capital gains. Originality/value: Agreed upon the literature that the firms during the period of crisis are likely to change their dividend policy, this study offers robust evidence that the dividend policy of distressed firms affects their sustainability (measured by sales and TFP) and the wealth status of their shareholders (measured by the Stock Returns). [ABSTRACT FROM AUTHOR]

This paper provides early evidence on the effect of global regulation mandating a switch from loan loss provisioning (LLP) based on incurred credit losses (ICLs) to LLP based on expected credit losses (ECLs). Using a sample of systemically important banks from 74 countries, we find that ECL provisions are more predictive of future bank risk than ICL provisions. Corroborating that the switch to ECL provisioning results in more information to assess bank risk, we also observe that the announcement of a larger first‐time impact of the accounting change elicits lower stock returns and higher changes in credit default swap spreads. Critically, these patterns are most pronounced when credit conditions deteriorate. Additional analyses show that the higher information content of the ECL model stems from the provisions for nondefaulted loans, which did not exist under ICL. Our study contributes to the debate on the effect of the ECL model on procyclicality, an especially pressing issue in the context of the current pandemic. [ABSTRACT FROM AUTHOR]

This paper studies some models in which the "engine of growth" is public debt and capital accumulation. Public debt is assumed to be driven by domestic debt and external debt. The study shows that debt will support economic growth if the initial level of productivity is greater than the cost of investment. In an economy with and without the loss of capital, the article shows the existence of a unique optimal share of investment in physical and human capital and/or new technology. Moreover, if the productivity of the first period is lower than that of a defined threshold value then there exists an optimal level of debt. In addition, if the productivity of the first period is greater than or equal to a defined threshold value, the bigger the debt, the better economies become. Furthermore, this study shows that in an economy with capital loss there is a hidden overhead equivalent to an artificially‐augmented interest rate. [ABSTRACT FROM AUTHOR]

We describe an optimization-based tax-aware portfolio construction method that adds tax liability to standard Markowitz-based portfolio construction. Our method produces a trade list that specifies the number of shares to buy of each asset and the number of shares to sell from each tax lot held. To avoid wash sales (in which some realized capital losses are disallowed), we assume that we trade monthly and cannot simultaneously buy and sell the same asset. The tax-aware portfolio construction problem is not convex, but it becomes convex when we specify, for each asset, whether we buy or sell it. It can be solved using standard mixed-integer convex optimization methods at the cost of very long solve times for some problem instances. We present a custom convex relaxation of the problem that borrows curvature from the risk model. This relaxation can provide a good approximation of the true tax liability, while greatly enhancing computational tractability. This method requires the solution of only two convex optimization problems: the first determines whether we buy or sell each asset, and the second generates the final trade list. In our numerical experiments, our method almost always solves the nonconvex problem to optimality, and when it does not, it produces a trade list very close to optimal. Backtests show that the performance of our method is indistinguishable from that obtained using a globally optimal solution, but with significantly reduced computational effort. [ABSTRACT FROM AUTHOR]

The detrimental effects of natural disasters on human capital during childhood are well-documented. However, little is known about whether, and to what extent, these impacts can be mitigated in the long term. This study analyzes whether a school infrastructure program can mitigate the adverse effects of extreme weather shocks on long-term children's education and labor market outcomes. This article uses a triple difference model that exploits the geographic variation of super-typhoons combined with the age-cohort exposure to, and spatial variation of, a secondary school infrastructure program in the Philippines. This study finds that the school infrastructure program almost entirely mitigated the negative effect of typhoons on educational attainment. These differential effects of the program on education among typhoon-affected children are also associated with their higher likelihood of working in a high-skilled occupation, in the non-agricultural sector, and of migrating overseas. [ABSTRACT FROM AUTHOR]

At the intersection of Regulation Crowdfunding (Reg CF) and the preferential tax treatments for small business stock gains and losses is an opportunity to increase the likelihood of the best aftertax outcome, which is maximizing after-tax gain or minimizing after-tax loss. To achieve this outcome, investors must select Reg CF offerings using a tax planning lens by leveraging the commonalities between Regulation Crowdfunding and the tax benefits afforded for small business stock gains and losses under Sections 1202 and 1244. This article identifies the similarities and differences between Reg CF and Sections 1202 and 1244 and suggests tips to prepare for best- and worst-case after-tax scenarios. [ABSTRACT FROM AUTHOR]

The after-tax return on equities is negatively impacted by selling appreciated stock and recognizing capital gains. Even an investor who adopts a buy-and-hold strategy inevitably will find it necessary to recognize capital gains at some point--due to such reasons as the need to rebalance a portfolio from equities to fixed income or to sell a stock with an outsized position in the portfolio in order to reduce risk, or because an appreciated stock has been acquired for cash by another company. While capital losses may be used to offset capital gains, in a period of rising stock prices capital losses will often be insufficient to offset capital gains. A strategy that sophisticated investors might employ to address this problem is to use short sales to increase the likelihood of having sufficient capital losses to offset capital gains. This could be done while still maintaining a 100 percent net long position. This article explains the mechanics of this strategy and why it might be viable. [ABSTRACT FROM AUTHOR]

Copyright of Economy & Forecasting / Ekonomìka ì Prognozuvannâ is the property of Ukrainian National Academy of Sciences, Institute for Economic Forecasting and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This paper uses data from the Health and Retirement Study to investigate the role of inheritances for stockholding. Individual heir fixed-effects estimates show that an inheritance receipt increases subsequent stock market participation. The respective magnitude of this shift is higher for large and fully anticipated receipts, whereas it seems to be largest for fully but larger-than-expected transfers. Generally, our effects are driven by households entering the stock market. Also, a less pre-inheritance liquidity constrained household shows higher post-inheritance stock ownership probability. This suggests, inheritance size as well as receipt and size anticipation are determinants for stockholding. In the context of stock market participation, our results highlight considerable heir and transfer heterogeneity which can have important implications for bequest taxation and economic welfare. By means of the intergenerational transmission of inequality and socio-economic status via the 'wealth channel', households not only benefit from transfer receipt but also from later capital gains, due to stock market participation. [ABSTRACT FROM AUTHOR]

One of the main reasons to consider a partnership for owning a business rather than an S Corporation is the adverse impact upon death if the business is held by an S Corporation. Because partnership status is generally preferable to the S Corporation structure for tax purposes, the estate or heirs can also use this event to convert from an S Corporation to a partnership without the usual tax consequences of such a conversion. [Extracted from the article]

The article presents the investors usually invest a good amount of time in making investment decisions with many times, investors have to analyse data to find a good a stock with huge growth potential. Topics include the investors are also required to decide with regards to the tender offer of voluntarily delisting companies, delisting could happen both voluntarily and on a compulsory basis, and the companies go for delisting with different long-term strategic motives.

The article discusses an option in relation to land has granted, have significant CGT and GST issues that need to be taken into account. Topics include an option has granted not only in relation to the acquisition or disposal of an asset; and the fact that a transaction fall within the terms of not only CGT event D2.

The article offers Capital Gains Tax (CGT) asset identification briefs. Topics include interest in property may itself be a CGT asset is expressly recognized in the avoidance of doubt provision; and capital gain may arise from the disposal of one interest in land but a capital loss may arise from the disposal of another interest.

Seaport inefficiencies have caused hindrances on the seaport operations especially on operational disruption which eventually contributes to high cost expenses, unnecessary waste and environmental pollution, and capital losses. As a result, the business and environmental sustainability cannot be attained and affecting the whole supply chain. Therefore, a Lean, Agile, Resilience and Green (LARG) performance model is proposed as a mechanism to curb these issues and improving the competitiveness of seaports. The compatible LARG criteria in seaport supply chain have been identified and analysed using an extensive literature and expert's reviews. In order to meet the aim of the paper, fifteen (15) experts from various maritime background (i.e. academic and industry experts) have been selected to give the relative important of each LARG paradigms by using an Analytical Hierarchy Process (AHP). The result shows that operational performance has the highest contribution to the seaport supply chain performance followed by economic performance and environmental performance. The outcome of this paper can be utilised as a guideline for seaport practitioners to develop a management tool to boost their performance from the LARG aspect. Furthermore, this LARG management tool can be applied globally as it can be adjusted and adaptable suited the seaport preferences. [ABSTRACT FROM AUTHOR]

Maintaining the supply chain in every industry is an important concern for the operators. The negative impacts of inappropriate maintenance could be discussed from different perspectives as well as capital loss, reputation loss, hazard and risk for lives, etc. In recent years, District heating (DH) in the countries that employing this technology broadly, turned to a vital energy infrastructure for delivering heat from suppliers to the consumers. Therefore, the reliability of the system is of high importance for the public interest. The transition from reactive maintenance to proactive maintenance have improved a lot the reliability to the system. Currently, many industries are exploiting different forms of artificial intelligence (AI) to predict the failures and plan for interventions to increase the system efficiency. In this paper the different methods of predictive maintenance have been reviewed and the compatibility to apply on a DH network has been discussed. [ABSTRACT FROM AUTHOR]

This study examines processes of class construction within a transnational community of professionals and managers who are emigrants, returnees, and non-migrants. Building on Bourdieu's class analysis and literature on transnational migration, the article examines how class statuses are supported by moral claims based on varying transnational mobility strategies. The authors draw their results from qualitative interviews with 45 Hong Kong respondents in Hong Kong and Canada. They find that despite Hong Kong emigrants' loss of economic capital due to de-professionalization, their cultural and symbolic claims frame an alternative set of norms about their life successes. Returnees claim to have the best of both worlds having amassed economic capital, while making social distinctions from stayers in terms of their globalized cosmopolitan imaginaries. Stayers appear envious of emigrants' and returnees' flexibility and seek to accumulate economic capital for future retirement migration or to send their children abroad. Respondents' moralizing discourses reveal a social field defining within-class distinctions apart from hyper-concerns of upward mobility through material gains. Nuanced class distinctions articulate values around freedom of space, time, and expression not readily accessible to residents remaining in Hong Kong. [ABSTRACT FROM AUTHOR]

This article scrutinizes the consequences that arise when current modes of urban governance fail to consider the micro-geographies of market trading during urban regeneration and relocation processes. It argues that the marketplace possesses significant and complex spatial dimensions that are fundamental to the sustenance and capital accumulation of traders. Findings from an empirical scrutiny of the regeneration of market infrastructure in Cape Coast reveal that the unwillingness of municipal authorities to consider the spatial dimensions of market trading during a period of temporary relocation caused negative consequences for traders, who experienced loss of customers, loss of capital, low savings, inability to meet family responsibilities and deterioration in health, among others. In response, the traders devised several coping strategies to survive these experiences. Due to the intimate relationship between state and non-state actors in urban governance, the municipal authority in Cape Coast not only suffered a sharp decline in its revenue generation but also could not recoup the funds invested in the development of the temporary markets. This study calls for inclusive urban governance in market development projects in order to preserve the spatial characteristics of market trading during relocation. [ABSTRACT FROM AUTHOR]