Domestic Turnover Research Articles

Methodical approaches to the analysis of sugar market conditions

The article is devoted to the methodical approaches to the analysis of sugar market conditions. It is argued that the leading role in comprehensive studies of the market of agricultural products and food belongs to the analysis of its conjuncture, which determines the quantitative parameters of development and the general qualitative characteristics of market state. However, the category of «market conditions» has not been unambiguously defined yet. Views on the subject, methods and goals of market research are expressed by representatives of different schools. The main groups of analysis indicators and sugar market conditions forecast have been allocated: production indicators; indicators of domestic turnover; indicators of foreign trade; indicators of the dynamics and price level; financial indicators that allow taking into account the impact of factors and conditions combination of the external and internal environment of market entities. The author notes that in foreign practice, business activity indices (dynamics of the main characteristics of production of goods, inventories, prices) are often used to assess market conditions. It is noted that in order to analyze the conjuncture of any market for agricultural products and food, the indicators of the general economic situation are evaluated, that is, the level of employment in general and by individual industries, the total volume of investments and the volume of investments by industries, etc. It is proved that in modern conditions the role and importance of studying the processes taking place in the market of agricultural products and food are constantly growing. The study of trends in the development of the agricultural market, factors of influence, cause-and-effect relationships and consequences of possible changes, allows to form an information and analytical base for determining priority strategic directions, developing a mechanism for implementing the selected strategies. It is concluded that a comprehensive study of the sugar market is a necessary prerequisite for the formation of a strategy and tactics for its development and includes the collection, analysis, evaluation and interpretation of data on the state, trends and prospects of its development. In order to conduct a comprehensive study of the sugar market and obtain clear information, it is most expedient, in the author`s opinion, to use the following methodological principles: purposefulness; comprehensiveness; consistency; systematic; dynamism; taking into account sectoral and territorial specifics; objectivity; efficiency. Key words: agricultural and food market, sugar market, market research, supply and demand.

Article: Pillar 2, Tax Competition, and Low Income Sub-Saharan African Countries

This article explores the implications of Pillar 2 of the G20/OECD Inclusive Framework Blueprint for global tax reform on tax incentives and tax competition in the countries of Sub-Saharan Africa (SSA). It addresses both the impact of the minimum effective tax developed under the Global Anti-Base Erosion (GloBE) model rules, and of the Subject to Tax Rule (STTR) for limited modification of existing bi-lateral tax treaties between SSA countries and various treaty partners. In the GloBE context the article examines the interaction of the substance-based income exclusion (SBIE), the qualified domestic minimum tax (DMT) and existing domestic turnover based minimum taxes in the region, and the proposed qualified refundable tax credit (QRTC) rules. In regard to the STTR it looks at the incentives, or lack thereof, for treaty renegotiation in the existing context of multi-national tax planning and income stripping. The article concludes that SSA countries should, if Pillar 2 is ultimately implemented by a critical mass of advanced countries, adopt the qualified domestic minimum top up tax (QDMTT), as proposed in the December 2021 promulgation of the detailed GloBE rules. The benefits of other actions, such as the adoption of QRTCs, or treaty renegotiation under the proposed STTR, are more ambiguous. Pillar 2 would introduce important fundamental changes to the international tax architecture, through agreement, at least, that there should be some limits on tax competition and profit shifting. It is, though, a far cry from the 15% minimum tax on corporate profits generally portrayed. The highly complex exceptions and structure explored in the article illustrate both the technical and political difficulties involved in attempting to stem the erosion of the global corporate profits tax. Corporate tax, International tax, Minimum taxation, Pillar 2

Analysis of the current state of health care state regulation

The purpose of the article is to analyse the current state of regional media platforms, identify development problems and justify solutions. Methodology. General scientific methods are used in the research, in particular: theoretical generalization – to determine the main provisions of health care; statistical analysis – to study the dynamics of medical care funding of state structures employees; methods of positive and normative analysis – to develop recommendations for improving the provision of medical services and the state of health care. Results. It was studied that in 2019, among 14,934.9 households, only 8.7% considered their income level sufficient. And 40.2% of households could not afford basic necessities other than food. More than 50% of households said that if incomes increased, they would spend more on treatment. The largest share of households that noted the need for additional treatment costs has an average per capita equivalent cash income per month at the level of 1,920.1–2,640.0 UAH. At the same time, out of the total number of 14,644.5 thousand households, 98.4% noted the need for health services during the year. Statistics show that in 2019, compared to 2018, the number of households that were unable to receive medical care, medicines and medical supplies for family members during the year increased. This trend is observed for both urban and rural residents. As a result, the ecological situation and the human living environment are deteriorating. Threats are created not only for the current population, but also for the lives of future generations. And according to the self-assessment of the health status of the Ukrainian population in 2019, only half of the population (50.4%) marked their condition as good, the rest reported satisfactory (39.5%) and poor (10.1%). Practical meaning. It is revealed that the state of the environment is under threat due to certain prohibitions and restrictions on the control of economic activity in order to ensure favourable conditions for business development which creates an uncontrolled situation of use of natural resources (water, air, land) included in domestic turnover. Prospects for further research. According to the Law of Ukraine “On Basic Principles of State Supervision (Control) in the Field of Economic Activity” it is necessary to warn in advance and clearly define the list of issues and indicators of the economic activity inspection. This distorts the real picture of possible damage to the environment from improper economic activities and unbalanced use of natural resources.

Do sugar taxes work?

Do sugar taxes work?

Political turnover, regime type, and investment behavior

ABSTRACT Firms and individuals condition their investment choices on domestic political factors in host countries. Existing research describes how government preferences and policy choices influence investment behavior. Some have argued that investors take a cautious approach in response to possible government turnover. We argue that the results of domestic political competition also matter. Domestic turnover creates uncertainty about the future direction of policy in a variety of areas relevant to investment decisions – e.g., changes in privileged relationships between the state and certain domestic producers or industries, trade barriers, and tax policies. Investors and firms should therefore hesitate to invest following domestic turnover in potential host countries. However, various institutional features of democracies should mitigate the extent to which domestic turnover causes uncertainty and deters investment. Our statistical analysis suggests that while non-democracies see less foreign direct investment in the wake of a change in the source of leader support, investment to democracies does not change significantly following domestic turnover. The note enhances our understanding of the determinants of investment and provides further evidence that democratic institutions matter for conditioning the effects of domestic turnover in a new empirical domain.

International Constraints, Political Turnover, and Voting Consistency in the United Nations General Assembly

AbstractRecent studies demonstrate that turnover in domestic political leadership is associated with change in states’ foreign policies. While domestic changes matter even after controlling for international factors, many argue that international factors should overwhelm the effects of domestic turnover on foreign policy change. Yet existing studies tend to focus on other domestic-level variables (e.g., regime type) as constraints on domestic turnover. We consider how three sets of international factors that scholars have argued might outweigh the influence of domestic changes—security environment, socialization, and economic dependence—moderate the effects of domestic coalition changes on variance in voting patterns in the United Nations. To do this, we interact a measure of domestic coalition turnover with various proxies for international context in a statistical model of voting consistency. We find that many international factors are associated with greater consistency in voting behavior. Yet the effects of domestic change on foreign policy are remarkably resilient. We find only limited evidence that the effect of domestic change attenuates as states face more international constraints. The results reinforce the importance of understanding the role of both domestic political factors and international context in shaping foreign policy.

The impact of UK soft drinks industry levy on manufacturers’ domestic turnover

In March 2016, the UK government announced the Soft Drinks Industry Levy (SDIL) which came into effect in April 2018. In common with the reaction to sugar-sweetened beverage (SSB) taxes in other countries, the SDIL announcement was met with strong industry opposition, with claims that it would harm their profits. The SDIL was designed to incentivise reformulation of SSBs by providing a 2-year delay between the announcement and the enforcement of the levy, and adopting a two-tiered rate based on the sugar content of the drinks. Using interrupted time series analysis, this paper examines how the domestic turnover of UK soft drinks manufacturers changed after the announcement and the implementation of the SDIL. Our results show some evidence of a short-term negative impact of the SDIL announcement on the domestic turnover of the UK soft drinks manufacturers. This effect, however, did not continue post-implementation. These findings suggest that manufacturers were, to a large extent, able to mitigate the effects of levy before it came into effect.

Zimbabwean Manufacturing Firms’ Propensity and Intensity to Export in the Post Zimbabwean Dollar Era

After the adoption of the multicurrency system in 2009 Zimbabwe’s macroeconomic environment stabilized but the new economic order exposed the economy to a crippling liquidity crisis. Exports remain the only sustainable solution to Zimbabwe’s liquidity crisis in the short to medium term given the current sanctions that limits other international capital flows. This study sort to understand the factors that determine Zimbabwean manufacturing firms’ likelihood and intensity to export. The study a was based on panel data from a 19 manufacturing firms listed on the Zimbabwe Stock Exchange over the period 2009 to 2017. The propensity and intensity to export was estimated using the logit and Tobit regression models respectively. Bigger firms and firms that engage in research and development had a high propensity to export. Foreign owned firms and firms that engage in research and development had a high intensity to export, while those with high domestic turnover tended to export less. The appreciation of the USD increased Zimbabwean manufacturing firms’ propensity and intensity to export. We urge the policy makers to design investment laws that attract foreign investors, and managers to prioritize research and development. We also recommend firm managers to take advantage of periods of currency appreciation to recapitalize at a cheaper cost and export more goods since Zimbabwe’s manufacturing production is highly import dependent.

Zimbabwean Manufacturing Firms' Propensity and Intensity to Export in the Post Zimbabwean Dollar Era

After the adoption of the multicurrency system in 2009 Zimbabwe’s macroeconomic environment stabilized but the new economic order exposed the economy to a crippling liquidity crisis. Exports remain the only sustainable solution to Zimbabwe’s liquidity crisis in the short to medium term given the current sanctions that limits other international capital flows. This study sort to understand the factors that determine Zimbabwean manufacturing firms’ likelihood and intensity to export. The study a was based on panel data from a 19 manufacturing firms listed on the Zimbabwe Stock Exchange over the period 2009 to 2017. The propensity and intensity to export was estimated using the logit and Tobit regression models respectively. Bigger firms and firms that engage in research and development had a high propensity to export. Foreign owned firms and firms that engage in research and development had a high intensity to export, while those with high domestic turnover tended to export less. The appreciation of the USD increased Zimbabwean manufacturing firms’ propensity and intensity to export. We urge the policy makers to design investment laws that attract foreign investors, and managers to prioritize research and development. We also recommend firm managers to take advantage of periods of currency appreciation to recapitalize at a cheaper cost and export more goods since Zimbabwe’s manufacturing production is highly import dependent.

The Impact of Public Support on SMEs' Outward FDI: Evidence from Italy*

This paper evaluates the impact of public financial support to the internationalization of small and medium enterprises. We analyze the growth performance of firms that conducted outward foreign direct investments in the period 1994–2008, comparing firms that benefited from public support (380) with a sample of firms that also internationalized their activity in the same period but without any incentive (508). The econometric results, stemming from a two‐step treatment effect model, reveal that incentives are effective in enhancing firms' performance in terms of domestic turnover and productivity growth, especially when they are targeted at smaller and younger firms. Moreover, the effect of the incentives is enhanced for firms that have accumulated international experience.

Where Is the Market? Evidence from Cross-Listings in the United States

We analyze the location of stock trading for firms with a US cross-listing. The fraction of trading that occurs in the United States tends to be larger for companies from countries that are geographically close to the United States and feature low financial development and poor insider trading protection. For companies based in developed countries, trading volume in the United States is larger if the company is small, volatile, and technology-oriented, while this does not apply to emerging country firms. The domestic turnover rate increases in the cross-listing year and remains higher for firms based in developed markets, but not for emerging market firms. Domestic trading volume actually declines for companies from countries with poor enforcement of insider trading regulation.

Where is the Market? Evidence from Cross-Listings in the U.S.

We explore two main questions. First, can two markets for a company's shares coexist and, if so, what determines the distribution of trading volume across them? For firms cross-listed in the U.S. we find that in most cases the U.S. market attracts a significant fraction of total trading volume, and tends to be more active when the company is based in a country that is geographically close, has low financial development and relatively poor anti-insider trading protection. Moreover, the relative size of the U.S. market is larger if the company is small, volatile and high-tech. Second, we ask whether developing an active foreign market entails lower domestic trading activity. We find that for firms based in developed markets, the domestic turnover rate increases in the wake of cross-listing and remains permanently higher. In contrast, emerging market firms tend to experience a decrease in domestic trading activity.

Human resource management and internal marketing in Mexico: an assessment of the Maquiladora turnover literature

The retention of quality employees is an integral part of organisational human resources and internal marketing efforts and has been linked to organisational success. This topic has received high attention in organisations due to the remarkably high costs associated with the retention of employees. As companies begin increasingly realising that human resources is one of their most important assets, the role of human resources management (HRM) needs to be in line with the firm's strategy formulation in identifying the people-related issues the organisation encounters. The importance retention of employees applies not only to domestic organisations but to international companies as well. Maquiladoras have historically been linked to high turnover rates and while currently this problem has been restrained to a certain extent, this issue is still remains a threat to overall productivity and success of the maquiladora plants. Domestic turnover literature is introduced to serve as a framework as to what has been written followed by all known maquiladora turnover literature.

Home bias and high turnover reconsidered

The Tesar and Werner (J. Int. Money Finance 14 (1995) 467) finding of very high turnover rates on foreign equity portfolios is based on an underestimation of cross-border equity positions. Foreign turnover rates calculated using information from comprehensive benchmark surveys on cross-border holdings are much lower than previously reported and comparable to domestic turnover rates. However, the basic intuition from the Tesar–Werner study, that transaction costs do not help explain the observed home bias, is confirmed using data on transaction costs in 41 markets.

Home Bias and High Turnover Reconsidered

That foreign equities are underweighted but overtraded has become a stylized fact of international\nfinance. Since stylized facts drive research, theoretical models have been developed to explain the puzzling\ncoexistence of home bias and high turnover, and researchers have dismissed transaction costs as a plausible\nexplanation of home bias. I show, however, that part of the puzzle—very high turnover rates on foreign\nequity portfolios—is based on inaccurate estimates of cross-border holdings. Foreign turnover rates\ncalculated using information from comprehensive benchmark surveys on cross-border holdings are much\nlower than previously reported and comparable to domestic turnover rates. Thus, researchers should no\nlonger develop theoretical models to explain the coexistence of home bias and high turnover, and the\nrelationship between transaction costs and home bias warrants reexamination. On the latter point, the basic\nintuition from Tesar and Werner (1995) that transaction costs do not help explain the observed home bias\nis confirmed using actual data on transaction costs in 41 markets.

Home Bias and High Turnover Reconsidered

The Tesar and Werner (1995) finding of very high turnover rates on foreign equity portfolios is based on an underestimation of cross-border equity positions. Foreign turnover rates calculated using information from comprehensive benchmark surveys on cross-border holdings are much lower than previously reported and comparable to domestic turnover rates. However, the basic intuition from the Tesar-Werner study, that transaction costs do not help explain the observed home bias, is confirmed using data on transaction costs in 41 markets.

Transaction costs and international portfolio diversification

This paper employs an intertemporal portfolio-choice model that incorporates proportional transaction costs to examine two features of portfolio allocation: the domestic bias of equity holdings and the relationship between domestic and international turnover rates. The model implies that the rate of portfolio diversification decreases as the magnitude of the transaction costs increases. As costs increase, active portfolio reallocation decreases and is replaced by passive portfolio reallocation, which is costless and is accomplished through the realization of capital gains. The international turnover rate is greater than the domestic turnover rate because the average holdings of the international asset are small, not because the volume of trading is large.

EXPATRIATES' PSYCHOLOGICAL WITHDRAWAL FROM INTERNATIONAL ASSIGNMENTS: WORK, NONWORK, AND FAMILY INFLUENCES

Integrating the expatriate adjustment and employee turnover literatures, we develop a model of expatriates' decisions to quit their assignments. This model explicitly considers the role of adjustment, the project‐based nature of international assignments, and the importance of several nonwork and family context factors in this withdrawal process. We test this model with a sample of 452 expatriates and a matched subsample (providing multiple sources of data) of 224 expatriates and spouses, living in 45 countries. Consistent with domestic turnover research, multiple regression analyses indicated that the work‐related factors of job satisfaction and organizational commitment were significant predictors of expatriate withdrawal cognitions. We also found support for the direct, indirect, and moderating influence of nonwork satisfaction and several family context variables (i.e., family responsibility, spouse adjustment, spouse overall satisfaction, and living conditions) on decisions of expatriates to quit their assignments. Implications for both organizational withdrawal and international HRM researchers and practitioners are discussed.