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Rental income from real estate properties represents one of the more interesting areas of client tax practice. Areas of concern are first whether or not losses are subject to limitation under either the vacation home or passive loss rules, including whether the client qualifies as a real estate professional. Among the other areas of concern are whether rental income is subject to self-employment (SE) tax, will qualify for a qualifying business income (QBI) deduction, or is subject to the net investment income tax (NIIT). [ABSTRACT FROM AUTHOR]

In this paper, we address the utility maximization problem of an infinitely lived agent who has the option to increase their income. The agent can increase their income at any time, but doing so incurs a wealth cost proportional to the amount of the increase. To prevent the agent from infinitely increasing their income and borrowing against future income, we additionally consider a non-negative wealth constraint that prohibits borrowing based on future income. This utility maximization problem is a mixture of stochastic control, where the agent chooses consumption and investment, and singular control, where the agent chooses a non-decreasing income process. To solve this non-trivial and challenging problem, we derive the Hamilton–Jacobi–Bellman (HJB) equation with a gradient constraint using the dynamic programming principle (DPP). Then, using the guess-and-verify method and a linearization technique, we obtain a closed-form solution to the HJB equation and, based on this, find the optimal strategy. [ABSTRACT FROM AUTHOR]

The purpose of this study is to analyze the influence of financial literacy, self-efficacy and income on investment decisions, as well as whether Financial Technology is able to mediate the influence. The research contributes to the fields of financial behavior and investment decision-making by examining how Financial Literacy, Self-Efficacy, and Income impact students' investment decisions in an academic setting, with a particular focus on the mediating role of Financial Technology (Fintech). The data analysis technique used in this study was SEMPLS with the help of the SmartPLS application. The results of the test were as follows: (1) Financial literacy has a significant positive effect on the investment decisions of Pelita Indonesia students; (2) Self-efficiency had a positive and insignificant effect; and (3) Income had an insignificant positive effect; (4) Financial Technology mediates the effect of Financial literacy on the Investment Decisions of students; and (5) Financial Technology does not mediated the impact of Income on the decision of students. The findings could inform educational institutions and policymakers on how to improve financial literacy programs and support fintech adoption to foster better financial outcomes among students, potentially leading to more financially empowered and responsible young investors. [ABSTRACT FROM AUTHOR]

In this work, the coefficients of the simple linear regression model between the study variables in an intuitionistic fuzzy (IF) environment are found using an index matrix approach (IFIM-LRA). In order to store and analyze a sizable IF dataset, we suggest extending the linear classical least squares approach with the use of intuitionistic fuzzy sets (IFSs) and index matrices (IMs). Furthermore, an approach is proposed to assess the applicability of the model in an IF environment. The use of conventional regression analysis and the IFIM--LRA technique to model the operational revenue of the Hospital for Active Treatment, Bulgaria is examined using an actual data set with investment cost values for the years 2017--2022. The document's originality comes from the usage of the defined IFIM-LRA and how it was applied to the examined hospital investment expenses and income for 2017--2022. [ABSTRACT FROM AUTHOR]

This study is necessitated by the high rate of infant mortality in South Asia (SA) and Sub-Saharan Africa (SSA) and the need to enhance the chances of these regions achieving SGD 3. The endemic nature of infant mortality in these regions constitutes a threat to attaining the 2030 sustainable development goal (SDG) 3 target. This study examined whether carbon emission matters and how other socioeconomic factors militate against the attainment of the infant mortality target in SA and SSA for the period 1981-2019. The study analyzed annual panel series using the robust least squares estimator. The result revealed that carbon emission per capita is the most critical impediment to attaining the SDG 3 target (25 infant mortality rate per 1000 in 2030) in SA and SSA. Fortunately, an increment in per capita income would be the strategic action to attaining the infant mortality target in these regions, and it is imperative to promote maternal education through improvement in female school enrollment rates. While the South Asian economies could afford to rely on foreign direct investment (FDI) inflows in addition to the aforementioned strategies, the SSA countries should not strongly depend on FDI to address the menace of infant mortality, rather improved social spending that is devoid of corruption and other systemic encumbrances would be more productive in arresting infant mortality in this region. Also, policymakers in Sub-Saharan African economies are encouraged to rely less on FDI and are strongly advised to improve government social spending and to implement pollution abatement policies and environmental regulations in line with international treaties and best practices. [ABSTRACT FROM AUTHOR]

Copyright of Die Unternehmensbesteuerung (Ubg) is the property of De Gruyter 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.)

Background: Given increased interest and investment in guaranteed income initiatives across North America, it is critical to understand the impact of guaranteed income on health, an understudied outcome. As part of Baltimore, Maryland's guaranteed income pilot, we conducted formative research to understand the influence of increased income on health and develop concrete recommendations for implementation and evaluation of the pilot. Methods: We conducted semi-structured in-depth interviews with Baltimore community residents (n = 8) and community collaborators (n = 8), probing on familiarity with guaranteed income; effect of guaranteed income on overall health and specific health outcomes (e.g., mental health, nutrition); and recommendations for program structure (e.g., eligibility, target population). Data were analyzed thematically using a framework analysis approach. Results: Respondents agreed that guaranteed income could have beneficial effects on health though some were unsure of specific mechanisms. Respondents emphasized pathways through which guaranteed income could improve health: (1) reduced financial-related stress; (2) improved nutrition through purchase of healthier foods; (3) improved family well-being including child health and parent-child relationships; (4) increased utilization of health services; (5) improved community health through increased community cohesion and decreased violence. Respondents described decreased feelings of time scarcity as a social determinant of health. Most respondents reported that Baltimore's guaranteed income program should prioritize young, low-income families with $1,000/month or more for at least one year. Conclusions: This formative research on the potential health impacts of guaranteed income in Baltimore highlights important health outcomes and pathways, such as social cohesion and decreased feelings of time scarcity, to prioritize for evaluation. [ABSTRACT FROM AUTHOR]

This paper examines the intertemporal income-shifting behavior of private firms, as well as the level and efficiency of aggressive intertemporal income shifters' investments in the wake of corporate tax cuts. Earlier research has focused mainly on public firms. However, research into private firms is especially relevant since these companies tend to finance future growth through internal financing. Using a sample of 2,650 firm-year observations of private Spanish firms, our results thus show that private companies engaged in intertemporal income shifting to gain additional tax savings in the presence of corporate tax cuts. This was particularly observed in the presence of significant investment opportunities and timing pressures to shift income. Additionally, we provide evidence that aggressive intertemporal income shifters invested more in labor capital after tax reforms than other firms and that such investments were efficient. [ABSTRACT FROM AUTHOR]

The social policy literature indicates a notable shift towards activation in minimum income schemes (MIS) since the 1990s, which has led to the emergence of new policy varieties. However, previous research has failed to reveal institutional changes over time and across/within varieties. This article measures and interprets varieties of minimum income across six welfare states from 2008 to 2022. It examines the evolution of varieties of MIS over time, and the extent to which changes have been driven by path dependence dynamics or by convergence towards a workfare model. Theoretically, the article builds on the regulation approach in political economy. Methodologically, it applies a Principal Component Analysis to a new dataset that consists of three OECD‐standard indicators alongside two novel indicators formulated for this study. The findings illustrate that varieties of MIS have undergone both quantitative and qualitative changes, moving within and between typologies. These changes are attributed to a lack of investment in income protection, limited enabling opportunities, and the introduction of specific, incremental workfare reforms. [ABSTRACT FROM AUTHOR]

In Africa, rangeland ecosystems have been exploited due to heavy and unsustainable grazing. Policy and institutional mechanisms such as integrating silvopastoral systems with sustainable grazing practices have been devised to mitigate the negative effects. In this study, we investigated whether the uptake of sustainable grazing management in the form of controlled grazing spurs investment in multipurpose trees (MPTs) and enhances income. Using instrumental variable regression, we find that controlled grazing increases not only the propensity to plant MPTs but also the number of tree species. More importantly, IV and treatment effect results indicate that controlled grazing enhances income from MPTs. [ABSTRACT FROM AUTHOR]

Cash transfer programs have emerged as potent tools for alleviating poverty and enhancing the living conditions of the most deprived households in developing nations. Such initiatives have now become integral components of social protection systems in many developing countries, including Pakistan. Evaluating the efficacy of these safety nets is crucial to comprehend their value in terms of public expenditure. This research employed a well-being index to gauge the impact of unconditional cash transfers on the socioeconomics of recipients. By employing three rounds of the BISP impact assessment survey conducted in 2011, 2016, and 2019. The study measured the overall impact of cash transfers on well-being by utilizing Principal Component Analysis in conjunction with a Difference-in-Differences Quasi-Experimental design over the years. The findings of the study indicate that between 2011 and 2016, the socioeconomic status declined for both treatment and control groups, but the reduction was less pronounced among those who received treatment compared to the control group with insignificant. From 2016 to 2019, there was a marginal positive increase in socioeconomic status, although it was of insignificance. Overall, the well-being of both the control and treatment groups decreased from 2011 to 2019, with a slightly more pronounced improvement observed in the treatment group. This trend suggests that the impact of the BISP unconditional cash transfer program had a limited effect on altering the well-being of the beneficiaries. The lack of substantial impact from the BISP's cash transfers on household well-being can be attributed to factors such as inflation, unemployment, economic slowdown, payment challenges, insufficient funding, and gaps between installments. The government of Pakistan should reconsider the substantial investment in BISP within the context of value for money. It is advisable for the government and policymakers to channel this substantial investment into income generation, capital asset development, microbusinesses, climate-resilient agriculture, and livestock in order to stimulate the real economy sectors. [ABSTRACT FROM AUTHOR]

The collaborative R&D of new products between enterprises is prone to the "free‐rider effect" due to knowledge spillover. To avoid that, this paper establishes a three‐stage dynamic game to explore the collaborative R&D co‐competition behavior between asymmetric horizontal supplier enterprises. In this paper, we incorporate the uncertainty of R&D success probability into the model and reverse induction is applied to solve it. In the model, two asymmetric enterprises play dynamic games under three modes: complete noncooperation, semicooperation, and complete cooperation. We discuss the sensitivity of various asymmetric factors to the R&D investment level and profit of enterprises. The results indicate that the R&D investment level of supplier enterprises is positively correlated with the absorptive capacity, technology spillover, and R&D success probability, and negatively correlated with the initial R&D investment and innovation efficiency under the three co‐competition modes. Especially, when the absorptive capacity of the enterprise or the degree of technological spillover of the other party exceeds a certain value, the profits of the enterprise in the mode of complete noncooperation and semicooperation will intersect, which can easily lead to "free‐riding" behavior. It provides a decision‐making basis for the direction and extent of enterprises' R&D efforts. In addition, some methods are proposed to improve the level of R&D investment and increase the income of enterprises under three modes. [ABSTRACT FROM AUTHOR]

The purpose of the article is to determine the impact of PPP on the economic growth of Akmola region. The object of the study is PPP projects implemented in Akmola region and the process of socioeconomic development of the region. According to the results of the analysis, the impact of PPP on the economic growth of the region was assessed. In the course of the study a dynamic analysis of PPP projects implemented in Akmola region was carried out. The analysis used information on PPP projects for 2018-2022 and economic indicators characterizing the economic growth of the region. Using the Horrard-Domer model, the economic growth of the region was determined and a factor analysis of the factors affecting it was conducted. In Akmola region in the period from 2018 to 2022, a total of 66 PPP projects were implemented with the attraction of investments in the amount of 7783.26 thousand tenge, and the attracted investments for the years amounted to an average of 15.36%. The growth rate of the economy according to the model of R. Harrod and E. Domar showed the following: the ratio of investment to total income averaged 0.88 million tenge, capital intensity amounted to 2.25 million tenge, the growth rate of the economy increased by 0.38 or 38.26%. For successful implementation of PPP in Akmola region it is necessary to create a stable investment climate. [ABSTRACT FROM AUTHOR]

In this study, we expanded upon the current benchmark model of external adjustment and dissected the concept of international financial adjustment into two distinct components: valuation effect and investment income. Our enhanced model, which we refer to as "tri‐channel model," incorporates three key elements: trade balance, valuation effect, and investment income. Using a consolidated quarterly dataset that encompassed China's balance of payments and international investment positions from 1998 to 2020, we estimated the relative importance of the three newly introduced adjustment channels to China's cyclical external imbalance. We found that the trade balance channel played a major role, accounting for approximately 76 percent of cyclical external adjustment. The contribution of the investment income channel to cyclical external adjustment (21 percent) was much greater than that of the valuation effect channel (3 percent). These findings imply that policy responses to the cyclical external imbalance in China should focus more on the trade balance and investment incomes channels rather than exploiting the valuation effects. [ABSTRACT FROM AUTHOR]

This study aims to examine the factors influencing the factors influencing the underwriting surplus (deficit) of tabarru' funds in BNI Life Insurance's sharia unit between June and July 2023. Utilizing a quantitative and descriptive methodology, the research relies on secondary data sourced from BNI Life Insurance's sharia unit financial reports spanning from 2015 to 2022. The sampling technique employed is a saturated sample, encompassing 32 time-series data points extracted from quarterly financial reports. Data collection methods include observation and documentation, with analysis conducted using multiple linear regression analysis through IBM SPSS version 20. The findings indicate that participant contributions have a positive and significant influence on the underwriting surplus (deficit) of tabarru' funds, whereas investment income and claims have a negative and significant impact. Collectively, participant contributions, investment income, and claims significantly affect the underwriting surplus (deficit). The results suggest that enhancing management practices and ensuring the stability of participant contributions, investment income, and claims could improve the underwriting surplus of BNI Life Insurance's sharia unit. The research suggests that better company management and the provision of sharia-compliant products can increase customer loyalty and public interest, thereby boosting the company's assets. [ABSTRACT FROM AUTHOR]

As increasing disbursements (such as costs and fees) and risk (such as portfolio risk and leverage risk) may affect managed fund performance, analysts go beyond risk-adjusted return measures for performance appraisal. A methodology that assesses performance in a multidimensional framework is data envelopment analysis (DEA). A variant of DEA is inverse DEA. In this paper, inverse DEA is applied to determine output (investment income and benefit payments) targets for a given fund to perform at a desired efficiency level when increase in disbursements and risk at known levels is envisaged. An output-oriented inverse DEA model assuming variable returns to scale is formulated with theoretical underpinning. The proposed modelling framework ensures that, when an input augmented fund with estimated output targets is included in the observed fund set, the frontier of best performance established with the observed fund set does not change. The inverse DEA model is applied to a sample of Australian superannuation funds to demonstrate how a given fund may obtain pathways to improve its performance under different input-augmentation scenarios. As different pathways suggest feasible output targets, fund managers may find them valuable in forward planning. [ABSTRACT FROM AUTHOR]

Trade and investment are crucial drivers of economic growth. Successful execution of trade and investment policy can elevate a developing country to a sustained growth path and make it self‐reliant. Bangladesh implemented a trade liberalization policy in the 1980s, deviating much from its conservative trade policy. This article assesses the impacts of trade, investment in physical as well as human capital, and a few trade policy variables on income surge for the liberalized regime. The econometric analysis finds that export, import, and domestic investment stimulate income. The impact of foreign investment is not conducive. Public spending on education also contributes to the income surge. Among the policy variables, trade openness and currency depreciation produce a beneficial impact. Population growth retards economic growth. The baseline results hold in the estimations involving several specifications of variables and testified as robust. The article views that a comprehensive approach to trade and investment policy would ensure the comparative advantage of trade and the well‐being of Bangladesh. [ABSTRACT FROM AUTHOR]

Policymakers are liable to 'treasure what is measured' and overlook phenomena that are not. In an era of increased reliance on administrative data, existing policies also often determine what is measured in the first place. We explore this two-way interaction between measurement and policy in the context of the investment incomes and capital gains that are missing from the UK's official income statistics. We show that these 'missing incomes' change the established picture of economic inequality over the past decade, revealing rising top income shares during the period of austerity. The underestimation of these forms of income in official statistics has hidden the impact of tax policies that disproportionately benefit the wealthiest. We urge a renewed focus on how policy affects and is affected by measurement. [ABSTRACT FROM AUTHOR]

Little is known about the financial security of Vietnam-era veterans now that most are over 65 and have left the labor force. Using 2018 survey data, we found that, on average, Vietnam-era veterans aged 63 to 78 had slightly less income than nonveterans of their ages: US$63,500 and US$65,000, respectively. Those veterans received more money from Social Security and retirement plans; nonveterans had more earnings and investment income. About 1.3 million Vietnam-era veterans collected an average of US$17,600 in disability compensation from the Department of Veterans Affairs, lifting their average total income above other veterans' by about US$5,000. Overall, veterans were less likely to be poor or very wealthy than were nonveterans. Information on income provides insight to Congress and the public about the economic stability and, by extension, overall well-being of Vietnam-era veterans as they age. [ABSTRACT FROM AUTHOR]

Microfinance contracts typically require a fixed repayment schedule that, while ensuring repayment discipline, may inhibit entrepreneurship and business growth. In this article, I review the recent developments in the literature studying innovations in the repayment structure of microcredit contracts. Introducing flexible repayment schedules improves business outcomes by allowing microcredit borrowers to increase investment and to respond to income fluctuations to a higher extent. Although financial innovations hold the promise to foster business growth, and evidence suggests that their demand appears concentrated among financially sophisticated borrowers, they are feared to increase credit risk and hence their adoption among microfinance institutions is very limited. I explore potential challenges lenders face in offering these innovations and outline pathways towards a profitable implementation of such contracts. [ABSTRACT FROM AUTHOR]

Policy adjustments can help strike a balance between economic growth and environmental sustainability, which has increasingly been the heart to nations and regions throughout the World. This paper examines how public investment affects economic growth, energy consumption, and CO2 emissions in eight ASEAN countries: Cambodia, Myanmar, Malaysia, Indonesia, the Philippines, Singapore, Thailand, and Vietnam. Extension of a Cobb–Douglas production function and application of panel cointegration techniques reveal bidirectional Granger causation between public investment and both private development and CO2 emissions from 1980 to 2019. Public investment Granger causes energy usage, the opposite does not hold statistically. More findings from pooled mean group estimations show a mean-reversion dynamic that corrects disequilibria by 14% yearly. State investment crowds in private sector growth, energy use, and carbon footprint. It also finds an inverted U-shaped relationship between public investment and energy consumption, and a U-shaped relationship between public investment and CO2 emissions, indicating complex regional interactions. It is suggested the implementation of public investment policies that enrich green infrastructure projects to foster growth while minimizing environmental impacts, and encourage a strategic approach to public investment for prioritizing environmental sustainability and thus, achieving Sustainable Development Goals 7 to 9 and 11 to 13 in this region. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this study is to investigate the mediating role of intellectual capital (IC) on the association between corporate governance mechanism (CGM) and the financial efficiency of Islamic banks (Z-score, net investment income and loan to deposit) and verify it through standard mediation in the panel based on interaction. Design/methodology/approach: The data of this study draws from 125 full-fledged Islamic banks and windows from 26 Organization of Islamic Cooperation (OIC) over the period of 2009 to 2019. A two-step system generalize method of moment estimation is used to test the hypotheses. Findings: The results underwrite that the inclusion of IC as a mediating variable has influenced positively the corporate governance and financial efficiency of IBs. Besides, only CEO power and Shariah supervisory board positively affect the financial efficiency of IBs. While structural capital and relational capital positively affect the financial efficiency of IBs. Apart from that, results show that the CGM has a significant relationship with the IC value of IBs. Research limitations/implications: These findings are valuable for policymakers and regulators to set policies to improve CG structure and effective use of IC resources to improve banking efficiency. Additionally, findings might be helpful for the bankers to proficiently use the IC as a premise to plan new strategies to get an upper hand in financial performance. Originality/value: This study extends and contributes to the current literature by analysing the role of IC along with CG to boost the financial efficiency of banks in OIC countries. [ABSTRACT FROM AUTHOR]

Copyright of Retos: Nuevas Perspectivas de Educación Física, Deporte y Recreación is the property of Federacion Espanola de Asociaciones de Docentes de Educacion Fisica 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.)

India's healthcare system is witnessing increased medical inflation, which is outpacing per capita Gross Domestic Product growth. With increased lifestyle diseases and, most recently, a pandemic caused by COVID-19, the cost of financing healthcare has become a huge issue, especially when government spending on healthcare is so low. In light of this, this article emphasises the significance of privately purchased, that is voluntary health insurance in addition to the government-sponsored health insurance programme for the vast uninsured population. Starting with the history of health insurance in India, this article examines premium growth, underwriting profit, investment income, net profit, incurred claims ratio and other metrics. Following that, the difficulties in the health insurance industry and their breadth are examined through a review of literature and recent newspaper reporting. The key issues resulting in negative underwriting experience are the inefficient risk pooling and unregulated private health care costs. A risk-sharing mechanism with an indemnification model must be implemented for better cost management to eliminate value fragmentation. Finally, ideas are given for resolving the challenges and increasing the market share of the health insurance company, with a focus on long-term business models such as managed care. [ABSTRACT FROM AUTHOR]

In light of China’s generally backward agricultural mechanization levels, it becomes crucial to shore up this weak link with endogenous driving force. The digital financial inclusion offers a approach to addressing the challenges related to agricultural mechanization. This study, collecting data from 1,869 counties and using the Spatial Autoregressive Model with Spatial Autoregressive Disturbances (SARAR model), analyzes the equilibrium and disequilibrium effects of digital financial inclusion on agricultural mechanization, as well as the mechanisms through which digital financial inclusion operates. The findings indicate that both digital financial inclusion and agricultural mechanization exhibit spatial spillover effects. The development of digital financial inclusion emerges as a significant driver for promoting agricultural mechanization. Furthermore, the impact of digital financial inclusion on agricultural mechanization varies based on the level of agricultural economic development, with counties characterized by less developed agriculture, plain topography, and strong agricultural sectors benefiting more from digital financial inclusion. Additionally, digital financial inclusion indirectly boosts agricultural mechanization by increasing farmers’ income and encouraging investment in fixed assets. Therefore, it is crucial to harness the benefits brought by the development of digital financial inclusion while promoting agricultural mechanization, and regions should tailor their approaches to promote digital financial inclusion development according to their local conditions. [ABSTRACT FROM AUTHOR]

This study aims to examine the relationship between individual investment behavior in financial products, such as financial assets, real estate, and cryptocurrencies, and their perception of social risks in South Korean society. Additionally, the study analyzes the influence of investment experience in financial products on attitudes toward the expansion of public welfare. The analysis reveals that as individuals perceive a greater insufficiency in relying solely on labor income for maintaining a stable life, the likelihood of having investment experience in financial assets and cryptocurrencies increases. In contrast, as individuals perceive a greater insufficiency in relying solely on labor income for maintaining a stable life, the likelihood of having investment experience in real estate decreases. Furthermore, the study finds that these investment experiences in financial products have varying effects on attitudes toward welfare expenditure expansion, depending on the type of financial product. [ABSTRACT FROM AUTHOR]

This paper contributes to the nascent literature on Takaful by investigating the solvency determinants for Takaful firms in both the Gulf Cooperation Council (GCC) and Malaysian economies. Our main objective is to develop a deeper understanding of the solvency determinants of these firms. Using hand- collected microdata for the period 2011 to 2016 for 52 Takaful firms, we document that firm size and wakalah fees significantly decrease solvency. From a regulatory point of view, this finding underscores that the percentage of wakalah fees should be closely monitored. Moreover, we find that other explanatory variables, including return on assets and the risk retention and investment income ratios, are not significantly associated with solvency. Overall, our results remain robust to many different model specifications. Further analysis indicates significant differences between the GCC and Malaysian Takaful firms. This may be explained by the different stages of financial development in the two markets. [ABSTRACT FROM AUTHOR]

Copyright of Mexican Journal of Economics & Finance / Revista Mexicana de Economia y Finanzas is the property of Instituto Mexicano de Ejecutivos de Finanzas 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.)

We study a continuous-time expected utility maximisation problem where the investor at maturity receives the value of a contingent claim in addition to the investment payoff from the financial market. The investor knows nothing about the claim other than its probability distribution; hence the name "intractable claim". In view of the lack of necessary information about the claim, we consider a robust formulation to maximise her utility in the worst scenario. We apply the quantile formulation to solve the problem, express the quantile function of the optimal terminal investment income as the solution of certain variational inequalities of ordinary differential equations, and obtain the resulting optimal trading strategy. In the case of exponential utility, the problem reduces to a (non-robust) rank-dependent utility maximisation with probability distortion whose solution is available in the literature. The results can also be used to determine the utility indifference price of the intractable claim. [ABSTRACT FROM AUTHOR]

Baby Boomers are living longer. This group of retirees--who are wealthier, healthier, and more educated than prior age cohorts--are creating a 'Longevity Economy' fueled by their retirement incomes and investments. There is currently a dearth of goods and services that future retirees will need as they decline in physical and mental acuity. Over the next few decades, significant new product innovation will be needed to meet their demands. In this article, a seniors' demand model to help forecasters and planners tap into this formerly neglected age group is introduced. [ABSTRACT FROM AUTHOR]

Global greenhouse gas (GHG) emissions continue to rise but, at the same time, emission intensities associated with domestic consumption and territorial production have declined albeit at vastly different rates across economies. To identify the socioeconomic factors that drive this cross-country variation, we combine input–output modelling with panel data analysis. Using the World Input–Output Database, we estimate GHG intensities separately for domestic consumption and for territorial production. For the regression analysis, we consider several socioeconomic factors that capture development features, exposure to international trade, as well as energy prices and GHG-relevant programmes. Our results show that development-type factors, such as per capita income, capital-labour ratios, and investments, are the primary drivers of cross-country differences. Energy prices and domestic GHG policies are not major drivers. We also find that reductions in intensities are primarily through changes in techniques rather than compositional changes in the structure of economies. [ABSTRACT FROM AUTHOR]

Distributional implications of capital account regulation is eminently context-specific. This paper examines the distributional effects of the openness of foreign direct investment (FDI) flows across 27 European countries in different economic environments around the Great Recession, covering the period 2007–2013. Our multi-level approach allows us to combine country-level variables and sociodemographic characteristics of individuals. The results highlight that the openness of FDI flows heterogeneously affects the income share of individual groups, favouring in particular the highest income classes. This finding seems to be driven by the educational level. We argue that even though highly educated individuals are present along the entire distribution, the highest income classes are especially favoured by the openness of FDI flows. This biased distributional effect of the openness of FDI flows persists throughout the years examined, regardless of the economic environment; this is due, in part, to the fact that the distribution of highly educated people is not sensitive to the business cycle. [ABSTRACT FROM AUTHOR]

The battery swap mode is a novel way of energy supplement for electric vehicles. Inevitably, there are some business transactions between battery swapping station (BSS) and battery centralized charging station (BCCS) in the mode. Therefore, it is essential to plan the construction of BSS and BCCS uniformly. Moreover, the needs of enterprises and users are not taken into account simultaneously in the existing site selection model. To resolve this problem, a many-objective joint site selection (MOJSS) model of BSS and BCCS is proposed in this paper. It mainly includes four objective functions: construction cost, coverage rate, investment income and satisfaction, which consider distance constraint between user demand points and the BSS, distance constraint between BBS and BSS, and the service ability constraint of BSS and the BCCS. To better solve the proposed model, a Grid-based evolutionary algorithm based on hybrid environment selection strategy is proposed. Furthermore, the segmented integer coding strategy and the specific genetic operation are designed based on the characteristic of model. It is compared with the existing many-objective evolutionary algorithms on standard test problems. Then the algorithm is applied to solve the established model. The experimental result demonstrated the reasonableness and effectiveness of proposed model. Finally, the site selection results are illustrated by a set of solutions. [ABSTRACT FROM AUTHOR]

AN "INVESTMENT" INCLUDES EVEN A SAVINGS ACCOUNT EARNING 1% INTEREST. MOST PEOPLE, HOWEVER, REFER TO HIGHER RETURN PRODUCTS LIKE MUTUAL FUNDS, ETFS, AND EQUITIES WHEN THEY TALK ABOUT INVESTING. INVESTING GUARANTEES LONG-TERM FINANCIAL SECURITY FOR THE PRESENT AND THE FUTURE. YOUR INVESTMENTS' INCOME AND FINANCIAL SECURITY ARE POSSIBLE THANKS TO THEM. A DIVIDEND IS ONE WAY THAT INVESTMENTS LIKE STOCKS, BONDS, AND ETFS CAN GENERATE INCOME. THIS SUM IS WHAT SHAREHOLDERS RECEIVE ONLY FOR KEEPING THEIR INVESTMENT. AS A RESULT OF THE MONTHLY, QUARTERLY, OR ANNUAL DISTRIBUTIONS PAID BY MANY INVESTMENTS, YOU CAN BENEFIT FROM PASSIVE INCOME THAT ONE DAY MIGHT TAKE THE PLACE OF YOUR PAYCHECK, SHOULD ALWAYS STRIVE TO INVEST 15% OF YOUR PRE-TAX INCOME, AS A GENERAL RULE OF THUMB. IF YOU BEGIN INVESTING BY THE AGE OF 30, GENERATE AN AVERAGE YEARLY RETURN OF 10%, AND MAKE A MINIMUM OF $21,500 PER YEAR, YOU WILL HAVE AMASSED A MILLION DOLLARS BY THE TIME YOU ARE 65. INVESTORS ARE MORE LIKELY TO BE MEN THAN WOMEN. THIS INVESTING DIFFERENCE, ALONG WITH THE SALARY DISPARITY AND OTHER FACTORS, OVER THE COURSE OF A 35-YEAR CAREER, MIGHT RESULT IN MISSING OUT ON $1 MILLION IN VALUE. IN A SIMILAR VEIN, MEN ARE FIVE TIMES MORE LIKELY THAN WOMEN, REGARDLESS OF AGE, TO REPORT THAT INVESTING IS THEIR TOP PRIORITY. [ABSTRACT FROM AUTHOR]

Copyright of Zeszyty Teoretyczne Rachunkowości is the property of Stowarzyszenie Ksiegowych w Polsce Rada Naukowa 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.)

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This study aims to examine the effect of financial literacy and income on investment decisions mediated by financial behavior. This study uses secondary data by distributing questionnaires to lecturers at the Faculty of Economics and Business, Jambi University. The data is processed using the smart PLS application to test the effect of each variable. The results of this study found that financial literacy and financial behavior have a significant positive effect on investment decisions, income has a negative effect on investment decisions. Financial literacy has a significant positive effect on financial behavior, income has a non-significant positive effect on financial behavior. The financial treatment variable can mediate the relationship between financial literacy and investment decisions. [ABSTRACT FROM AUTHOR]

Unconventional natural gas extraction presents numerous opportunities and risks for communities across the United States. To capture a portion of the revenue generated by the resource states tax unconventional natural gas development. While most states collect revenue via severance taxes, Pennsylvania took a novel approach and established an impact fee on the industry instead. Unlike severance taxes in other states, the fee is collected annually and distributed directly to municipalities. While reports show that municipalities use the funds to pay for critical infrastructure, no best practices on how to allocate the funds exist. Citing the literature on mineral resource extraction and infrastructure-led development in American communities, this study examined impact fee payments made to counties with unconventional natural gas wells. The study evaluated whether counties that used the funds to invest in infrastructure were better off in terms of employment and income than other shale-producing counties that did not. Panel fixed- and random-effects regressions suggested that no statistically significant employment or income effects existed. The results suggest that local infrastructural investments are not a successful way to overcome the resource curse issues identified in the literature. [ABSTRACT FROM AUTHOR]

This study assessed the link between ease of doing business (EBD) and investment among 11 selected countries in West Africa covering 2006–2020. The study used the fixed‐effects estimator, the random‐effects estimator, the augmented mean‐group method, and the Half‐Panel Jackknife Wald‐type test. The study found a bidirectional relationship between the EBD and foreign direct investment (FDI) and a unidirectional relationship running from EBD to domestic investment. The findings further revealed that the EBD and national income have a strong influence in determining the level of domestic investment and FDI inflows, and that some indicators of EBD, such as the procedure for starting a business, access to credit facilities, tax, and security threats, discourage domestic investment and FDI inflows, in contrast to the influence of obtaining electricity and national income on investment. The study suggests that West African governments reduce taxes, ease the procedures and costs of starting a business and dealing with construction permits, and increase the availability of credit facilities at lower interest rates to promote investment in the region. [ABSTRACT FROM AUTHOR]

Rural land consolidation projects (RLCPs) have become one of the largest organized human activities to change land use patterns and impact terrestrial ecosystems, and it may also be an important precondition to improving ecosystem service value (ESV). Evaluating the change in ecosystem service value (ESV) is an important basis for measuring the effectiveness of RLCPs. Therefore, this paper, taking RLCPs implemented at County Level in Hubei Province, China, as an example, uses the improved ESV evaluation model to analyze the spatial differentiation of ESV change in RLCPs and then adopts geographic detectors and a geographically weighted regression model to identify the dominant factors affecting the ESV change in RLCPs. The results showed that (1) although RLCPs make the unevenness of land use obvious, they reduce the complexity of land use evidently and improve the dominance of land use significantly; (2) The ESV of RLCPs in 71 counties of Hubei Province increased, with an average increase of USD 2.37 × 107 a−1. The ESV increase is large in central Hubei, while small in eastern and western Hubei. However, the increase rate of ESV is high in eastern and central-north Hubei, while low in western and central-south Hubei. This indicates that RLCPs can effectively promote ESV, but there are significant regional differences, and (3) the ESV increase is positively correlated with GDP and construction scale, but negatively linked with investment and per capita income of rural residents. The ESV increase rate is negatively associated with cultivated land proportion and land use diversification index change, but it is positively related to the change in the land use evenness index. However, their driving effects have significant spatial heterogeneity. [ABSTRACT FROM AUTHOR]

Purpose: The paper aims to present the role of net investment income in the current account in Poland’s balance of payments and to investigate the main factors driving net investment income. Design/methodology/approach: The study uses quarterly, secondary data spanning from 2004 to 2022. The data gathered in the research were analysed using the ordinary least squares (OLS) regression. Findings: The empirical results of research show that the balance of investment income in the analysed period was characterized by a persistent deficit. The scale of the net investment income’ impact on the current account balance has increased. The income balance was mostly determined by the net foreign assets position while exchange rate had no significant effect. Practical implications: Understanding variables that influence country's net investment income is essential for designing appropriate economic policies aimed at ensuring external balance. The research results can be used to formulate policy recommendations, which help to minimalize vulnerabilities of external position of Poland. A policy suggestion is that in order to reduce imbalance between payments and receipts in investment income flows, efforts should be made towards promoting domestic investments abroad. Poland should also decrease dependence on external financing and increase reliance on domestic savings. In addition, the results of study provide a reasonable basis for further research on the influence of the investment income composition on the balance of income account. Originality/value: Until now, little research has been done about determinants of investment income balance. The study contributes to better understanding of changes in net investment income and dynamics of external position of Poland. [ABSTRACT FROM AUTHOR]

This paper explores how corporate financial portfolio influences distress risk. We define distress risk as a dummy variable determined by whether firms need external subsidies to repay the interest payable. Spanning our analysis with 3,698 listed firms in China between 2007 and 2019, our findings are twofold. First, financial portfolio is associated with less distress risk. Second, the impact is more pronounced for firms with higher levels of liquidity of financial portfolio. We provide evidence that corporate financial portfolio prevents distress risk by reducing financial expenses and by improving investment income. Our findings post a challenge to the existing view in China that financial portfolio would harm corporate operation. The implication is that companies could allocate more liquid financial assets than illiquid ones to mitigate forewarned risk. [ABSTRACT FROM AUTHOR]

Insurers worldwide are operating in a challenging environment, with issues ranging from plummeting demand from retail customers to deep concerns over the dwindling investment incomes with the vagaries of stock markets. Huge claims outflows have posed challenges to the profitable operations of many large insurers. Turning to technology to provide advanced solutions to manage the claims has been the preferred route of many insurers to provide quick and efficient service on one hand and handle claims more efficiently on the other. However, the key focus of any technology or tool introduced in recent times has been to address the problem of claims leakage. The contractual obligation of an insurer and the ethical consideration demand that the insured or claimant be compensated with the right amount. Tools like Analytics, aid in the process to discover how much should be paid. To complement these are decision support tools, which help to direct or automate the decision to make payments more accurate. In this paper, a detailed analysis of what constitutes claims leakage and some of the challenges insurers face in addressing the issue is discussed. More attention is directed on handling Litigation Management since litigation costs constitute a large portion of the claims costs. [ABSTRACT FROM AUTHOR]

Payments for environmental services have been popularly used in environmental management and an increasing number of studies assesses their contribution to local livelihoods. This study employs propensity score matching with a dataset of 404 indigenous households in the Central Highlands of Vietnam to evaluate the effect of payments for forest environmental services (PFES) on their livelihoods. Participating in PFES increased households' employment and income from activities related to natural forests. Income from PFES allowed households to enhance productive investment and promote income from cultivation activities. All of this, in turn, increased their annual income, job satisfaction, living expenditures, and reduced the amount of any loan. Additionally, PFES enhanced opportunities to participate in training courses and traditional community activities. This confirms that PFES is not only a good initiative for forest management but also a livelihood policy for communities. [ABSTRACT FROM AUTHOR]

The institutional literature suggests that long-term tax incentives are crucial for entrepreneurs, but studies on this topic are hampered by problems related to how to define and measure entrepreneurial income. We resolve these problems by drawing on a theoretical definition of the entrepreneur as an owner, which enables us to identify entrepreneurship empirically by means of investments made by active owners of closely held corporations. Using detailed Swedish tax data, we analyze the tax incentives for such owner-entrepreneur investments from 1862 to 2018, thereby highlighting the evolution of a general institutional phenomenon through a long-run, in-depth, country-specific analysis. We calculate the annual marginal effective tax rate (METR) on capital income for investments, distinguishing between average- and top-income entrepreneurs, and between three sources of finance. We identify five tax regimes that indicate substantial differences in institutional quality over time according to the magnitude of the METR and METR differences between average- and top-income entrepreneurs and across sources of finance. Growth-conducive tax incentives shed light on why so many successful entrepreneurial firms were founded in Sweden around 1900, whereas increased taxation helps explain the absence of new large entrepreneurial firms in Sweden after World War II. Improved incentives can be associated with Sweden's recent entrepreneurial renaissance. [ABSTRACT FROM AUTHOR]

The allocation of pension funds has important theoretical value and practical significance, which improves the level of pension investment income, achieves the maintenance and appreciation of pension funds, and resolves the pension payment risk caused by population aging. The asset allocation of pension funds is a long-term asset allocation problem. Thus, the long-term risk and return of the assets need to be estimated. The covariance matrix is usually adopted to measure the risk of the assets, while calculating the long-term covariance matrix is extremely difficult. Direct calculations suffer from the insufficiency of historical data, and indirect calculations accumulate short-term covariance, which suffers from the dynamic changes of the covariance matrix. Since the returns of main assets are highly autocorrelated, the covariance matrix of main asset returns is time-varying with dramatic dynamic changes, and the errors of indirect calculation cannot be ignored. In this paper, we propose a novel Black–Litterman model with time-varying covariance (TVC-BL) for the optimal asset allocation of pension funds to address the time-varying nature of asset returns and risks. Firstly, the return on assets (ROA) and the covariance of ROA are modeled by VARMA and GARCH, respectively. Secondly, the time-varying covariance estimation of ROA is obtained by introducing an effective transformation of the covariance matrix from short-term to long-term. Finally, the asset allocation decision of pension funds is achieved by the TVC-BL model. The results indicate that the proposed TVC-BL pension asset allocation model outperforms the traditional BL model. When the risk aversion coefficient is 1, 1.5, and 3, the Sharp ratio of pension asset allocation through the TVC-BL pension asset allocation model is 13.0%, 10.5%, and 12.8% higher than that of the traditional BL model. It helps to improve the long-term investment returns of pension funds, realize the preservation and appreciation of pension funds, and resolve the pension payment risks caused by the aging of the population. [ABSTRACT FROM AUTHOR]

This account has shown steady growth with a rate of return for 2021 of 12.29 percent with an average annualized rate of return of 6.89 percent over the lifetime of the fund. Portfolio C: Birgit Baldwin Fellowship - The original endowment supporting the Birgit Baldwin Fellowship is maintained in a separate investment portfolio. Portfolio D: Haugen Scholarship - The original endowment supporting the Einar and Eva Lund Haugen Scholarship is maintained in a separate investment portfolio. [Extracted from the article]

The present study makes an analysis of the working capital of the companies in the commercial sector of Ecuador, in order to know how the working capital affects the economic results of commercial organizations during the year 2021. The research is descriptive, analytical and correlational, based on the database of the Superintendence of Companies (SC) and Insurance SC with a sample of the 40 largest companies according to their assets and applying multiple correlation to determine the relationships between working capital and other selected variables; Among the main results, it is highlighted that one of the components of working capital, current assets, has a direct correlation with total assets, that is, when the company invests the most, it does so in a large majority in resources that can be converted into cash in less than 12 months, with a significance of 0,67. The problem arises from the need to know how the working capital WC influences the obtaining of results at the end of a fiscal year, in one of the largest sectors in the country and that contributes significantly with jobs and taxes to the state; considering also that the largest companies in Ecuador belong to the sector, according to the Ranking of the control body, such as La Favorita Corporation that operates with an investment of $2.178.780.982,22; income tax of $57.787.752,77 and profit for the year 2021 of $232.280.036,22 in the last year reported to the SC. [ABSTRACT FROM AUTHOR]

The United Nations lists 17 Sustainable Development Goals for Agenda 2030, one of which is SDG-10, which focuses on eradicating inequality and addressing critical regional and global challenges. The fight against income inequality is heavily dependent on foreign direct investment all over the world. In this connection, the present study aimed to investigate the individual and interactive impact of foreign direct investment, human capital, and economic growth on income inequality by employing the interactive model. Based on the panel data set covering ten counties spanning each region of Asia from 1990 to 2020. In light of the slope homogeneity, cross-sectional dependency tests, and Westerlund co-integration test, we discover that all of the variables are cointegrated over the long run. A cross-sectional IPS (CIPS) unit root test is employed to check stationarity. Additionally, the study used the Augmented Mean Group (AMG) approach to produce accurate results in estimation. The results confirm that FDI affects inequality negatively. However, the impact of FDI is more effective in the presence of human capital. It means that human capital deepens the effect of FDI on inequality; the country will be more effective in reducing inequality by having a higher level of human capital and consider it a more powerful tool to bring equality. To reduce inequality, it is suggested that a policy mix of FDI and HC could be made. [ABSTRACT FROM AUTHOR]