Search

The use of survey expectations data was a key feature of macroeconomics in the 1950s and 1960s, and an important part of research at the NBER during that period. Yet [...]

Together, Portugal and Brazil were the second biggest players in the transatlantic slave trade. However, we still know little about the profits generated by the slave trade and by the activities carried out by slaves within the Portuguese Empire – in particular in the Atlantic world. In other words, who were the various groups benefiting from those profits and where was the capital obtained invested and/or reinvested? In this article, we present preliminary estimates of gross profits generated by the Portuguese Brazilian participation in this business and discuss the methodological challenges faced to calculate the net profits of Portuguese–Brazilian participation in the slave trade as well as in assessing the weight of slave-based produce in the economies of Portugal, and Brazil. The first part of our study relies mainly on the data available in the Transatlantic Slave Trade Database, evidence gathered from several Portuguese archives, and the slave prices' series built by David Richardson and David Eltis et al for West and West Central Africa and the Brazilian slave prices series built by Laird Bergad. The second part will be based on the vast body of literature and source materials available in Portuguese, English and other languages on the topic. [ABSTRACT FROM AUTHOR]

Bank loans and trade credit (B&T) are the most important short-term loan sources for enterprises. Therefore, it is important to study the relationship between them and whether this relationship is affected by some factors. This paper uses the panel data of all A-share listed companies in China from 2000 to 2018 to study the relationship between B&T, as well as the impact of economic fluctuations, profits, status and ownership on this relationship. Several findings are noted. First, there is a complementary relationship and this relationship is affected by economic fluctuations, profits, status and ownership. Second, economic fluctuations, profit, status and ownership have a negative impact on the relationship between B&T. The complementary effects will weaken under the image of economic fluctuations, profit, status, and ownership. Finally, economic fluctuations, profit, status and ownership have a greater impact on the relationship between bank loans and accounts payable than on bank loans and accounts receivable. [ABSTRACT FROM AUTHOR]

Copyright of Journal of Madenat Al-Elem University College / Magallaẗ Kulliyyaẗ Madīnaẗ Al-ʿAlam Al-Ğāmi'aẗ is the property of Republic of Iraq Ministry of Higher Education & Scientific Research (MOHESR) 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.)

Dairy farming is one of the choice options for business startups among budding entrepreneurs and progressive farmers in the valley. However, the apprehensions of profitability as well the size of cow unit (CU) to begin with, do exist in their minds. Keeping this in view, a study was planned with an objective of analyzing the economics of milk production viz-a-viz various cow-unit sizes in Srinagar. The study was carried out zone-wise as well as cow unit wise to assess the viability of dairying in the district and to find out the profitable size of the cow unit respectively. A total of 616 farmers were included in the study. It was found that dairy farming was a profitable venture in Srinagar District with Net Returns per litre of milk being ₹ 3 on an average. However, profitability seemed to be dependent on the size of the cow-unit as well with Net returns per litre of milk being ₹ –1.98, ₹ 2.90, ₹ 12.77 and ₹ 16.02 in CU 1, CU 2–4, CU 5–9 and CU above 10 respectively. This clearly indicates that a dairy venture can be started with a CU 2–4 at the beginning to gain experience, which can be later expanded to a CU 5–9 and eventually to CU more than 10 up to a suitable and sustainable level depending upon farmer’s individual situation.

Seasonal-to-interannual variations of rainfall over southern Africa, key to predicting extreme climatic events, are predictable over certain regions and during specific periods of the year. This predictability had been established by testing seasonal forecasts from models of varying complexity against official station rainfall records typically managed by weather services, as well as against gridded data sets compiled through a range of efforts. Members of the general public, including farmers, additionally have extended records of rainfall data, often as daily values spanning several decades, which are recorded and updated regularly at their farms and properties. In this paper, we show how seasonal forecast modelers may use site recorded farm rainfall records for the development of skillful forecast systems specific to the farm. Although the uptake of seasonal forecasts in areas with modest predictability such as southern Africa may be challenging, we will show that there is potential for financial gain and improved disaster risk farm management by co-developing with farmers forecast systems based on a combination of state-of-the-art climate models and farm rainfall data. This study investigates the predictability of seasonal rainfall extremes at five commercial farms in southern Africa, four of which are in the austral summer rainfall areas, while one is located in the winter rainfall area of the southwestern Cape. We furthermore calculate a measure of cumulative profits at each farm, assuming a “fair odds” return on investments made according to forecast probabilities. The farmers are presented with hindcasts (re-forecasts) at their farms, and potential financial implications if the hindcasts were used in decision-making. They subsequently described how they would use forecasts for their farm, based on their own data.

Economics in One Lesson is the best introduction to economics ever written. It has enticed, educated, and inspired multitudes of people to embrace the teachings of the dismal science. To the extent that if there is any understanding of economics by the general public, it is due more to this book than to any other. Yet, I have uncovered one error in it, which I attempt to rectify, offering a very slightly improvement to a priceless book on economics.

The aim of the article is to determine the specifics and tasks of responsibility centers in the system of management accounting of life insurance companies. Based on studying modern research works, which comprehensively reveal the problems of appointment and organization of management accounting in activities of business entities, it is found that most of them relate to enterprises of various forms, types, and a rather insignificant number of works consider its specific characteristics, peculiarities in activities of insurance companies in general and life insurance companies in particular. The article defines the main tasks and criteria for assessing performance of centers of income, expenditure, investment, and profit, taking into account peculiarities of the main activities of life insurance companies. The key aspects in organizing activities of each of the mentioned centers are presented. The attention is paid to the necessity of introducing computer technologies in activities of the centers of responsibility, which will increase efficiency of processing a large array of information contained in various archives of an insurance company.

Copyright of Organisationsberatung, Supervision, Coaching is the property of Springer Nature 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.)

Copyright of Realidad Economica is the property of Realidad Economica 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.)

The purpose of this article is to narrate the experience of the residents of barrio Escalante, located in district El Carmen in the capital San José of Costa Rica. This settlement dates from the first half of the 20th century and in the last decade it goes through a series of urban transformations mainly: the changes in land use; the profile of the city and the vocation to commercial and tourist activities. This article shows the results of a survey applied to residents during the last semester of 2018 as well as in-depth interviews. As important results are: the difficulties to reside in the neighborhood; the lack of citizen participation and political decisions about the city without consulting those who inhabit it. [ABSTRACT FROM AUTHOR]

Copyright of Notas Económicas: Revista da Faculdade de Economia da Universidade de Coimbra is the property of Imprensa da Universidade de Coimbra 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.)

The application of cyclonic microbubble flotation column (FCMC) from laboratory to industrial scale was investigated in this study. The FCMC was found to be superior to the standard self-aeration flotation cell for separating the fine coal (below 0.5 mm in size) as sampled from the Xiezhuang coal preparation plant (CPP), and tested under laboratory conditions. Compared with the flotation cell, the ash content of clean coal obtained by the FCMC was reduced by 1.34 percentage points, whereas the clean coal yield and the flotation efficiency index was increased by 2.90 and 6.64 percentage points, respectively. Under these industrial conditions, compared with the IF-45W flotation cell, the clean coal ash content obtained by the industrial FCMC-5000 (the column diameter was 5000 mm) was also reduced by 2.70 percentage points, whereas the clean coal yield and flotation efficiency index increased by 15.10 and 18.99 percentage points, respectively. Furthermore, annual profits of the Xiezhuang CPP increased by 46.773 million RMB by replacing the IF-4.5W flotation cell with the FCMC-5000. The results showed that the FCMC was an efficient coal flotation unit, and its application in separating fine coal has the potential to create significant profits for the enterprise. [ABSTRACT FROM AUTHOR]

Financial institutions are financial intermediaries in the process of transferring financial funds between participants in the financial system. The main participants in the financial system are: individuals, businesses, financial intermediaries and the government. Money owners are interested in investing their savings to make money. As compensation for this, they derive profits in various forms, such as interest, dividends, capital gains, etc. Borrowers also need additional financial funding to finance their investment or consumer programs. They are obliged to borrow those funds from financial institutions. For borrowed funds they pay a certain price to the lenders. With the mediation of financial institutions, it is possible to transfer financial funds from entities that have surpluses to entities that have a lack of financial funds, and at the same time need to provide them from external sources. Investment or consumption, if sufficient accumulation of the necessary financial funds was expected from own resources. The essence of financial intermediation lies in the collection of financial funds by many individuals and businesses that hold financial savings, and their investment in various forms. With the proclamation of the financial mediation process, we notice its multidimensional aspect, on the one hand as the collection of financial funds in various forms and their concentration, and on the other hand as investments of funds collected through various forms of loans to borrowers who need financial funding. Financial institutions do not only have the role of simple intermediation, because they also perform a whole set of analyzes and evaluations in the case of creating, providing and performing their services, both in terms of fundraising and concentration, and from aspect of potential investment of financial forms. In terms of fundraising, the analysis aims to assess the appropriateness of financial resources in terms of interest rate and term of use, while in terms of investing financial potential, the analysis aims to ascertain and determine economic reasonableness and financial financing of investment projects, and real opportunities for return on invested funds, together with a certain interest rate. Savings holders can also invest them directly in users who need financial support. They can also lend them to the government to finance additional budget spending programs. In the first case we are dealing with the issuance of shares and bonds by the company that need financial funds, and in the second with government bonds, through which the government provides financial funds to finance the budget deficit. In summary, financial institutions (financial intermediaries) enable the collection of financial savings of businesses and individuals, as well as their investment in various variable forms for the financing of development programs and commissions. By performing this function, financial institutions influence the optimization of economic-financial effects and increase the efficiency of micro and macroeconomic scales. [ABSTRACT FROM AUTHOR]

• Total capital investment of $ 7.11 million for extraction plant was estimated. • Raw material contributed the largest portion of total operating cost. • Resin and lignified ring of Aquilaria sinensis as feedstock had positive net profit. • Supercritical carbon dioxide extraction process at lab-scale consumed high energy. • Higher technology readiness level could reduce 90% of environmental impact. Extracts of Aquilaria sinensis possess pharmacological activity that has been widely used in traditional medicines since ancient times. In this study, techno-economic assessment was conducted for extraction of volatile oil from abundant biomass (lignified ring) and resin of A. sinensis to evaluate their respective economic feasibility using supercritical carbon dioxide (SC-CO 2) extraction in Malaysia. The assessment revealed that for a production capacity of 5280 kg/y volatile oil, the total capital investment (TCI) was $ 7.11 million from summation of fixed capital cost and working capital. In terms of operating expenditure (OPEX), the volatile oil extracted from resin and lignified ring of A. sinensis required $ 81.96 million and $ 52.39 million, respectively. The selling price of volatile oil from resin and lignified ring were estimated to be $ 0.025 million/kg and $ 0.0125 million/kg, respectively. Both volatile oil extracted from resin and lignified ring showed a positive net profit which indicated their profitability. In addition, a cradle-to-gate analysis of life-cycle assessment (LCA) was performed, whereby the extraction process contributed the highest impact towards the environment due to its high energy consumption. Nevertheless, this study estimated that the process might reduce the environmental impacts by approximately 90% when the technology readiness levels (TRLs) reach the level of 9–10. These findings are beneficial in providing preliminary insights in terms of economic and environmental aspects for volatile oil extraction using SC-CO 2 technology. [ABSTRACT FROM AUTHOR]

This article presents the first diachronic overview of the economic, social and symbolic profits of 'city poets' ('stadsdichters') in the Low Countries. From the early fifteenth century onwards, there have been many (more or less) official relationships between city councils and poets. The prominence and the form of these relationships, however, diverged greatly in different periods: whereas official appointments were the standard in the fifteenth, sixteenth and the twenty-first centuries, the period in between saw a much more diverse landscape of informal appointments and relationships. After presenting a historical overview of the role of city poets throughout the centuries, this article focuses on two well-documented periods in which formal agreements were made between town governments and poets: the late Middle Ages and the start of the 21st century. We analyze political and financial agreements explicitly in relationship to the complexities surrounding the production of city poetry. City poetry, paid by public money, is bound to be controversial: in general because its status is subject to changes and political discussions, but also because this form of commissioned poetry is sometimes seen as a form of propaganda. Official city poetry seems to flourish most in societies with a stable political-religious climate (as in the Southern Low Countries in the fifteenth and sixteenth century) and/or with a keen interest in city marketing (as in Flanders and the Netherlands in the twenty-first century). [ABSTRACT FROM AUTHOR]

Throughout the centuries, many literary authors were engaged in writing theatre plays. Although there are many studies about the theatre business in general from Medieval Times to the present, the perspective of the playwright's profits is seldom taken into consideration. This article presents both a survey of author's options to gain an income in the world of theatre and an analysis of the discourse about this advancement. More specifically, on the basis of a comparison of cases from the seventeenth century on the one hand and the nineteenth and twentieth centuries on the other, this article argues that, despite the fact that for playwrights, as much as for other literary authors, it was a taboo to be open about economic profits, developments in the organization of institutional theatre created temporary openings for (public debate about) financial rewards. [ABSTRACT FROM AUTHOR]

A grand narrative of Dutch literary authors' opportunities to economically profit from their writing is yet to be written. The general assumption, however, is that these opportunities developed teleologically from a dominant system of patronage during medieval and early modern times, in which financial gains were marginal and in which author's independence of their supporters was constrained, to a system in which the commercial book market was dominant and where authors could be more self-supporting and thus more independent of supporters. This article argues that there is no such teleology. On the contrary: on the basis of an exploration of both practice and discourse of literary authors' profits from the Middle Ages to the present, we conclude that in every period, it was possible for authors to profit from their writing through either patronage, market or governmental support, and often through a combination of these sources. Moreover, in every period varying types of independence of literary authors was valued highly. Our analysis of the discourse on profits shows that the continuous tendency to disguise financial advancement could be related to the importance of authorial independence throughout the ages. [ABSTRACT FROM AUTHOR]

This article argues that it is both important and viable to develop a diachronic perspective on the profits of literary authors in the Low Countries. Up to now, conceptual and theoretical boundaries between different subdisciplines within Dutch literary studies have resulted in a compartmentalized, fragmentary narrative of the economic, social and symbolic profits of literary authors throughout the centuries. On the basis of a survey of the theoretical frameworks dominant in the subdisciplines of medieval, early modern and modern Dutch literature, we highlight the opportunities and difficulties for a diachronic perspective on financial advancement, focusing both on practice and discourse. In addition, we propose a schematic model that tries to overcome the difficulties and enables us to profit from the opportunities. This proposal allows for a sharper focus on both the practice of and discourse on literary authors' economic gain from a diachronic perspective. [ABSTRACT FROM AUTHOR]

Current paper determines reference indexes of dairies in the Agreste region of the state of Pernambuco, Brazil, and proposed benchmark models for inefficient farms. Production operational costs and Data Envelopment Analysis (DEA) comprised the methodology used. Results show that producers failed to cover costs at medium and long term periods and were impacted by depreciation and familiar manpower, while investments were equal to high capital rates. Farms 4 and 7 had the best rates and farms 46, 115, 94, 96 and 67 had respectively the worst references for inefficient products. The true characterization of milk-producing systems reveals reference indexes when common factors to production systems are taken into account and may be associated to production efficiency. [ABSTRACT FROM AUTHOR]

Copyright of Panorama Económico is the property of Universidad de Cartagena 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.)

Evaluating changes in profit, price and productivity over time can be of great importance for regulated water industries. We investigate the drivers of profit, price (capital, labour and other inputs) and productivity change (cost efficiency change, technical change and scale effect) and the recipients of productivity change (consumers, the business itself, employees and other resource suppliers) of the English and Welsh water and sewerage companies over the period of 1995–2016. The results indicate that the profit decreased over time due to the negative quantity effect, which offset the positive price effect. A further decomposition of the quantity effect illustrates the negative impact of the cost efficiency change and scale effect on profits. Moreover, the financial winners since the water companies' privatization have been the employees and the suppliers of other inputs, whereas the customers of the water and sewerage services and the business itself have not benefited as much. [ABSTRACT FROM AUTHOR]

Background A key driver of the global tobacco epidemic is the massive profit earned from manufacturing tobacco products despite high levels of product taxation. Two of the four major Transnational Tobacco companies are based in the UK, where there is growing evidence of corporate tax avoidance by transnational firms and where there are calls for the industry to pay more towards the harms caused by tobacco products. Objectives/Methods UK tobacco company profit and corporation tax data between 2009 and 2016 is obtained from publically available sources. The intention is not to perform a piece of forensic accounting but to establish the broad pattern of profit and taxation in order to inform consideration of tobacco product and firm taxation, and hence public health. Results Very little profit based taxation has been paid in the UK despite high levels of reported profits, both in the domestic market and globally. Conclusions The UK needs better reporting and corporate taxation standards. Tobacco companies should be made to pay more profit based taxation, such as by extending the surcharge on corporation tax currently paid by UK banks, and by making sure companies pay appropriate taxes when reorganizing corporate structures. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of the paper is to assess whether current corporate commitments to serve all stakeholders rather than just shareholders will protect corporate reputation during the coming economic downturn. Design/methodology/approach: This paper reviews recent corporate commitments to corporate purpose and sustainability as well as critiques of these commitments to determine the likely public and governmental responses in the context of declining middle-class purchasing power and record profits. Findings: The author believes that unless corporations make deeper commitments to productivity growth, higher wages and strengthening employment, there will be meaningful restrictions imposed upon their freedom to operate. Research limitations/implications: This review of corporate commitments and critiques is selective and not comprehensive. To the extent that the findings relate to events in the future, they are, by definition, non-verifiable. Practical implications: If corporations begin to address the concerns discussed here before the next sharp economic downturn, they may be able to escape significant new obligations imposed by the governments. If not, they are likely to lose both freedom of action and reputation. Social implications: Depending on the flow of events, large segments of the population could turn against big corporations, representing a significant shift in the cultural and political environment. Originality/value: Much has been written about the intersection of stagnation in productivity growth, decline in middle-class purchasing power and income inequality. However, the author believes that there has been little attention given to the possible implications from the perspective of corporate reputation. [ABSTRACT FROM AUTHOR]

Purpose: Entrepreneurial identity involves identifying and exploiting opportunities to create value and wealth. Entrepreneurship contributes mainly to a firm's efforts be exploited in a marketplace. The purpose of this paper is to analyse the relationship between the entrepreneurial social identities identified by Fauchart and Gruber (2011) and three primary stakeholders: investors, customers and employees. Design/methodology/approach: Data were collected through online questionnaires from entrepreneurs who had created their own new venture in Spain. The results were analysed using partial least squares technique (PLS-SEM) (Fornell and Cha, 1994) with Smart PLS 3.0 (Ringle et al., 2015). Findings: The results show that the identities defined as Darwinian and Communitarian have a positive effect on profits and growth in sales, which serve to create value for investors and customers. The effect is not significant, however, when these identities are connected to job creation to create value for employees. Further, the multi-group analysis performed shows that this relationship differs significantly based on gender. Research limitations/implications: The main limitation is that this research does not include relevant stakeholders like sponsors or project managers. The next step is to expand this research to this kind of stakeholders. Practical implications: The research assists gender entrepreneurial social identity and business performance under the impact on primary stakeholders. Social implications: This research has the potential to analyse the entrepreneurial social identities for their contribution to create value and wealth. Originality/value: The authors' main contributions are to have based the study on the relationship between entrepreneurial social identity and business performance and their impact on primary stakeholders and to have analysed the differences on gender entrepreneurial social identity and business performance and their impact on primary stakeholders. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this paper is to identify the impact of governance structures in defining the relationship between profits and leverage. Design/methodology/approach: The paper uses the standard design used by Fama and French (2002) and employs it under different governance structures. It is the first to identify the endogenous nature of the relationship between profits and leverage, compounded by the endogeneity of governance. The paper uses the instrumental variable (IV) technique to control for endogeneity and recommends a novel approach to control for multiple endogenous regressors. Findings: The results demonstrate that firms operating under good governance verify the predictions of the trade-off theory of capital structure and that the evidence of negative relation in the literature is a subset of management inefficiency. The results are consistent after controlling for endogeneity and are robust to alternative iteration of governance. The activity in debt issuance and retirement supports the conclusion that firms with good governance structures actively seek an optimal capital structure corresponding to profits. Originality/value: This study adds value to existing literature. It is the first to identify the importance of governance in defining the relationship between profits and leverage. It recognizes unaccounted endogeneity concerns and employs an inspired IV approach to control for feedback from multiple endogenous regressors. Evidence for capital structure adjustment by firms with good governance is also substantiated. Lastly, the first unqualified evidence for the trade-off model is provided. [ABSTRACT FROM AUTHOR]

All companies resident in the State, with some exceptions, and all non-resident companies who trade in the State through an agency or branch are subject to corporation tax (“CT”) on gross trading profits. CT receipts account for a significant portion of Irish government revenues. The tax accounted for 21 per cent of all exchequer tax receipts in 2020, up from a low point of 10 per cent in 2011 and 15 per cent in 2004. The paper makes two new contributions. The paper presents for the first time the main trends in the headline corporate tax base variables, tax liabilities and corporation taxpayer demographics over 15 years from 2004 to 2018. The paper then uses these data to broadly examine the performance of corporation taxpayers during and after the economic crash in 2008/09, particularly with respect to profits, CT dynamics and employment levels, to provide insights on the possible performance of taxpayers during and coming out of the present crisis. This paper uses a novel CT panel dataset that allows a deeper understanding than previously available of the changing distribution and composition of the CT base, sectoral composition, key cohorts such as the top 1% and changes over time. In doing so, certain characteristics of the corporate tax base are confirmed, other trends established, and a timely analysis of the financial crisis is conducted also. [ABSTRACT FROM AUTHOR]

Whenever a recession occurs, there is a heated dialog among marketing academics and practitioners about the appropriate levels of marketing spending. In this article, the authors investigate whether firms should spend more on research and development (R&D) and advertising in recessions. They propose that the effects of changes in firms' R&D and advertising spending in recessions on profits and stock returns are contingent on their market share, financial leverage, and product-market profile (i.e., business-to-consumer goods, business-to-business services, business-to-business goods, or business-to-consumer services). They estimate the model using a panel of more than 10,000 firm-years of publicly listed U.S. firms from 1969 to 2008, during which there were seven recessions. Their results support the contingency approach. The authors compute the marginal effects, which show how the effects of changes in R&D and advertising spending in recessions vary across firms. The marginal effects provide evidence of inadequate spending (e.g., 98% of business-to-consumer goods firms underspend on R&D), proactivity (e.g., 96% of business-to-business services firms are at approximately the right levels on advertising). and excess spending (e.g., 92% of business-to-consumer services firms overspend on advertising). Using the authors' approach and publicly available data, managers can estimate the effects of their firms' and competitors' R&D and advertising spending on profits and stock returns in recessions. [ABSTRACT FROM AUTHOR]