Extraordinary Profits Research Articles

Policy Note: Special Taxes for Special Times? A Critical Analysis of Fiscal Crisis Responses with an Earmarking Feature in the Context of EU Law

Do special times require special taxes? The answer may not be the same from a legal, political, or economic perspective. One type of answer that legislators in Europe – both on the national and the supranational level – have given to the crises that make our times special are fiscal measures targeting extraordinary profits, revenues, or even assets while reserving the collected revenue for specific purposes. This article discusses the arguments for and against such earmarked crisis response measures in the context of their implications in the framework of EU law. It argues that specific earmarks may be attractive for reasons of political psychology such as health expenditure or inflation relief for households and firms. However, they may have unintended legal consequences by putting the respective measure into the scope of other legal regimes such as social security or banking regulation. The article contributes to the current debate about appropriate fiscal measures in times of crisis by pointing to examples of such direct and indirect interactions with primary or secondary EU law based on earmarking.

Maintaining Business During Covid-19 Pandemic Through Social Media: A Content Analysis of Indonesian Football Club Instagram Account

Indonesia has become the largest football industry with a huge fan base. Football continues to become a profitable brand and generates extraordinary profits, considering that football has a wide and large market share. As a brand, many football clubs have realized the power of branding in marketing clubs outside the club's local market through branding strategies carried out into content on social media. Currently, social media has become a popular and effective new media in the branding strategy of a football club. Their Instagram account has gained millions of followers in recent years, creating an effective medium for sales and promotion. Many Indonesian big brands agree to sponsor the club as a way to promote their products as well. However, the global pandemic hit from March 2020 to August 2021, and there was a long hiatus for football matches, considering the branding activity of a football club is very dependent on the passing of matches in a competition. Football matches become the 'main product' that attracts the attention of fans and sponsors. Due to this catastrophe, how can football clubs in Indonesia maintain business during the COVID-19 pandemic through Instagram content? Using a semi-structured interview with internal parties of a big football club in Indonesia, this study generates some practical summaries and implications on how to maintain business during the COVID-19 pandemic. The result shows the significant influence of the COVID-19 pandemic on the content analysis of the Football Club in Indonesia through Instagram. Keywords: COVID-19, football, content analysis, social media, Instagram.

Processo de formação de professores: debate sobre a Cultura Corporal no curso de Licenciatura em Educação do Campo da Universidade Federal de Mato Grosso do Sul

O objetivo do texto é discutir a Cultura Corporal no processo de formação de professores do Curso de Licenciatura em Educação do Campo (LEDUCMPO), oferecido pela Universidade Federal de Mato Grosso do Sul (UFMS), sinalizando para o impacto que essa abordagem teórico-metodológica pode exercer nas escolas do campo com vistas à construção de uma educação vinculada ao pensamento coletivo, na busca da superação do modo de produção capitalista que sucumbe o homem e a natureza em prol do desenfreado acúmulo do capital, transformando em mercadoria descartável tudo o que pode gerar lucros extraordinários ao capitalista. Para tanto, utilizamos as técnicas de pesquisa bibliográfica e documental. Consideramos que a Linguagem Corporal, analisada a luz da teoria que embasa o entendimento da Cultura Corporal, contribui de maneira significativa para mudanças de paradigmas nas escolas do campo brasileiras. Palavras-chave: cultura corporal, linguagem corporal, educação do campo. Teacher education process: debate about body culture in the Rural Education License Course of the Federal University of Mato Grosso do Sul ABSTRACT. The object of the text is to discuss the Corporal Culture in the process of teacher training for the Degree Course in Rural Education (LEDUCMPO) offered by the Federal University of Mato Grosso do Sul (UFMS), signaling for the impact that this theoretical-methodological approach can have on rural schools with a view to building an education linked to collective thinking in the search to overcome the capitalist mode of production that succumbs man and nature in favor of the unbridled accumulation of capital, transforming it into disposable merchandise anything that can generate extraordinary profits for the capitalist. Based on the techniques of bibliographic and documentary research. We believe that Body Language understood in the light of the theory that underlies the understanding of Body Culture contributes significantly to paradigm changes in schools in the Brazilian countryside. Keywords: corporal culture, body language, rural education. Proceso de formación docente: debate sobre la cultura del cuerpo en el curso de Licencia de Educación en el Campo de la Universidad Federal de Mato Grosso do Sul RESUMEN. El objeto del texto es discutir la Cultura Corporal en el proceso de formación docente para la Licenciatura en Educación Rural (LEDUCMPO) que imparte la Universidad Federal de Mato Grosso do Sul (UFMS), señalando para la impacto que este enfoque teórico-metodológico puede tener en las escuelas rurales con miras a construir una educación ligada al pensamiento colectivo en la búsqueda de superar el modo de producción capitalista que sucumbe al hombre y la naturaleza en favor de la acumulación desenfrenada de capital, transformándolo en mercancía desechable cualquier cosa que pueda generar beneficios extraordinarios para el capitalista. Basado en las técnicas de investigación bibliográfica y documental Creemos que el lenguaje corporal entendido a la luz de la teoría que subyace en la comprensión de la Cultura Corporal contribuye significativamente a los cambios de paradigma en las escuelas del campo brasileño. Palabras clave: cultura corporal, lenguaje corporal, educación rural.

Bourdieusian capital conversion during crises of socio-political legitimacy: Sponsorship of the arts by Barclays Bank, 1972 to 1987

This paper advances our understanding of how organisations engage in the process of Bourdieusian capital conversion during crises of socio-political legitimacy. We do so by analysing the arts sponsorship strategies of Barclays between 1972 and 1987. During this period, Barclays faced numerous challenges to its organisational legitimacy as a result of its continued dealings in apartheid South Africa and its ability to generate extraordinary profits despite general economic malaise in Britain. As a response, Barclays increased its sponsorship of the arts, exchanging its substantial economic capital for the symbolic capital associated with high-status arts institutions. We identify the forces that facilitated and inhibited these capital exchanges and how they affected Barclays’ sponsorship strategies. This paper will be of interest to Bourdieusian scholars interested in capital exchange, to business historians interested in banking in Britain during the 1970s and 1980s, and researchers interested in the evolution of corporate sponsorship and philanthropy.

External finance, subordinated financialisation: a reflection on Argentina’s currency flights in the last three decades

Abstract We use the example of Argentina to argue that the changing characteristics of developing countries’ financial integration may have reinforced the old dynamics of subordination and reliance upon external finance where large firms, foreign and domestic, engage in practices that allow for securing their surplus abroad in precious hard currency. Financial practices and openness have allowed these firms to navigate through the multiple interconnections between financial and productive spheres, resulting in extraordinary profits, which have been systematically remitted abroad, political and trade cycles notwithstanding. We find that rather than setting against investment and financial speculation, financialisation in Argentina highlights that both capital and exchange market volatility have also been triggered by industrial investment and the subsequent financial re-investment of profits in the international markets. We conclude with policy recommendations to attempt to lessen the effect of monetary subordination and capital dependence.

Statistical analysis - impact of food processing industry on Indian economy

The food industry of India Is known for enormous growth and rising involvement to global food market every year .Indian food processing industry has achieved an extraordinary profit & growth due to its tremendous scope for value addition . In this study, the relationships between the food processing sector and the economic growth were studied using regression analysis . The regression model is made with combined information presented over the period of 2000 – 2017. The study examined the impact of several food processing indicators on growth of economy of India. It showed that that there is positive and significant impact Food Processing industry on Indian economy.

Producing Gold and Silver to Globalize the Economy during the Early Modern Era: San Luis Potosi and the Pacific Trade with Asia

Abstract This article presents evidence from archival sources that allows us to reconstruct the commercial networks that permitted the continuous flow of silver and gold from northern New Spain to Asia during the early modern era. These networks obtained various consumer goods – fabrics, spices, porcelain – that were then introduced into Spanish American markets. The narrative follows the bullion through its journey from the production center in San Luis Potosi to the Pacific and Asia. This vantage point contributes to the construction of a polycentric view within the framework of global history by assessing the role played by the American and Asiatic possessions of the Hispanic Empire in the first globalization. Using a methodological framework provided by social network analysis, the article presents a study of two commercial networks based in New Spain and extending to the Philippines and Peru. The essay underlines the role merchants played in mobilizing precious metals to accelerate exchanges and generate extraordinary profit margins.

Wheat Futures Prices Prediction in China: A Hybrid Approach

Stocks markets play their financial roles of price shocks and hedging just when they are proficient. The imperative highlights of productive market are that one cannot make extraordinary profit from the stocks markets. This research investigates whether China wheat futures price can be predicted by employing artificial intelligence neural network. This would add to our knowledge whether wheat futures market is resourceful and would enable traders, sellers, and investors to improve cost-effective trading strategy. We utilize the traditional financial model to forecast the wheat futures price and acquire out of sample point estimates. We additionally assess the robustness of our outcomes by applying several alternative forecasting techniques such as artificial intelligence with one hidden layer and autoregressive integrated moving average (ARIMA) model. Furthermore, the statistical significance of our point estimation was further tested through the Mariano and Diebold test. Considering random walk forecast as the bench mark, we used a number of economic indicators, trader’s expectation towards futures prices, and lagged value of futures price of wheat in order to forecast the evaluation of wheat futures price. The computable significance of out of sample estimations recommends that our ANN with one hidden layer has the best anticipating presentation among all the models considered in this exploration and has the estimating power in foreseeing wheat futures returns. Furthermore, this investigation discovers that the futures price of wheat can be predicted, and the wheat futures market of China is not productive.

Market Timing Skill and Trading Activity in Taiwan’s Retail-Dominated Futures Market

There has been substantial research on performance persistence among professional and retail investors. These studies typically employ infrequently sampled data on portfolio holdings and returns, making it difficult to distinguish skill from luck, let alone differentiate between superior security selection and market timing ability. Based on 10 years of comprehensive account-level data comprising 61 million trades made by investors in Taiwan’s retail-dominated futures market, the authors confirm that institutions consistently earn alpha at the expense of behaviorally biased individual traders. The authors introduce an approach for separating overconfident traders from skilled market timers. This novel skill measure interacts prior performance with past trading volume. Investors identified as highly skilled subsequently earn a net-of-cost average annual return of 115%. The authors’ results contribute in two ways: (1) introducing a new measure for assessing high-frequency trading skill and (2) validating the intuition that significant alpha can be harvested by active investors in retail-dominated markets. <b>TOPICS:</b>Futures and forward contracts, emerging markets, manager selection, performance measurement <b>Key Findings</b> ▪ The authors employ comprehensive data on 61 million individual trades made by investors in Taiwan’s financial futures market over a 10-year period to confirm that behaviorally biased retail investors consistently lose to institutional investors. ▪ They demonstrate weak performance persistence and a nonlinear relationship between past trading volume and future performance, characterized by overconfidence on the part of a vast majority of traders and rational learning about skill by the most active traders. ▪ The authors describe a method for inferring true market timing ability from a combination of data on prior performance and past trading volume and identify a small subset of skilled traders who subsequently earn extraordinary profits after accounting for transaction costs.

Investments in Braskem Green Polymers: Extraordinary Profits Instead of Decarbonization of the Environment

This paper presents an evaluation with the use of patentometry of how the technologies for the production and use of green polyethylenes (HDPE – high density polyethylene and LLDPE – linear low density polyethylene) and green polypropylene evolved from 1999 to 2017. The results of this research enabled to identify companies that invested in technologies for the production of green polyethylenes (PEs) and polypropylene and the reasons for the fall in investment in R&D in the period studied. The fundamental reason for selecting Braskem for the case study is that although the company is not the largest patent holder for the technology considered, it is the only company that commercially produces green PEs in the world. Although the performance of green and fossil nominally same PEs are equivalent, commercial clients may use blends of up to 51% of green polyethylene and 49% of fossil polyethylene and still have the right to use the I’m green<SUP>TM</SUP> label. Moreover, the marketing which involves the sale of green PEs to companies that use polymers with the “I’m Green<SUP>TM</SUP>” label from Braskem appeals to environmental conscious consumers and places these companies in a noticeable position. The LOX (Sarbanes Oxley Law) is an agreement between world stock exchanges which provides for good governance, that is, the transparency of financial acts. In Brazil, it is observed in the São Paulo Stock Exchange (B3) the lack of rigorous inspection in the inventories of emission of green stocks by companies. There is no transparency in how carbon credits were gained and in the AIS – Annual Income Statement of green stocks BRKM5. As a result, this led to the investigation that culminated in the analysis of green PEs as commodities in the financial market as well as relations concerning the investors in the green stock market (BRKM5). The Annual Income Statement - AISs from 2010, when Braskem started production of green PEs, until 2018, show there was growth of revenues. Despite of the production of PEs have continued stable and the number of green PEs patents have decreased since 2014, the profits with the BRKM5 stocks increased and in 2018 extraordinary profits were obtained. In 2012 the average share price of BRKM5 was R$13.27 and in 2018, the average price reached R$ 48.93 per share, representing an increase of 268% and extraordinary profits.

O complexo agro-industrial da floresta

O complexo agroindustrial da Floresta, em Juiz de Fora, é um exemplo da transferência direta do capital do café para a indústria. O complexo surgiu com a fazenda de café em 1858 e em 1925 instalou-se a fábrica têxtil. A fábrica de tecidos São João Evangelista, que começou pequena, teve grande impulso a partir do final da década de 30 e, durante a II Grande Guerra obteve lucros extraordinários, os quais permitiram que o complexo se expandisse e se diversificasse. No complexo, a estrutura familiar de administração funcionou enquanto os lucros foram altos e sustentaram a família. Com o crescimento dessa e a diminuição daqueles, começaram os problemas. Na década de 80, tanto a fazenda como a fábrica foram vendidas para herdeiros da família. Na SJE uma fase de austeridade e crescimento se inicia com a aquisição de aproximadamente 97% das ações por um dos sócios, neto do fundador da fábrica, o qual se mantem, juntamente com dois filhos (quarta geração) no comando da fábrica até os dias de hoje.

SOCIO-ECONOMIC MOTIVATIONS FOR PARTICIPATION IN FINANCIAL FRAUD IN THE INSURANCE SERVICES MARKET

Introduction. The issue of financial fraud, in particular in the market of insurance services and the motives for participation in them by individual participants who are able to recognize a possible financial pyramid and refuse to participate in it is especially relevant at the present stage of development of Ukrainian society. In developed countries, the problems of involvement and motives for participation in financial pyramids are paid much more attention than in Ukraine, where a potential consumer of a financial product is often left alone with the problem after the closure of a fraudulent project. Methods. The methodological basis of the article is a dialectical-materialist approach, and during the research special general scientific methods were used: analysis and synthesis - in determining the motives of participation and relationships of participants in the financial pyramid; historical and legal - in disclosing the experience and consequences of the spread of fraud, in particular on the example of Albania. Results. The article attempts to assess the factors that affect the relatively conscious participation of consumers in financial projects, with clear signs of a financial pyramid. We interpret the financial pyramid as: "the activity of the enterprise of the financial sphere, which is to accept funds for investment with a high level of return (at least at the level of declaration); however, this goal is not realized at all or to a sufficient extent, which causes a spiral of losses." We single out the motives for involvement in the structures, which during the operation of the payment of liabilities are made from the current investments of new clients (investors or partners) and the factors that determine the involvement in such structures of colleagues, family, friends and acquaintances and their financial resources. Discussion. Aggressive marketing, which declares extraordinary profits, so large that their size precludes rational thinking and awareness of the fairness of distribution or financial enrichment, in the representation of celebrities who authenticate the proposed obligations in combination with the level of regulation and financial literacy significant prospects for further research on this topic. This situation allows us to predict a significant number of new participants in financial pyramids and exacerbation of financial fraud. Keywords: insurance, financial pyramid, fraud, motives, factors.

RAK ACCESSORIES FUNNY

&lt;p&gt;Student creativity program in this entrepreneurship class, we run a business program of making cute accessory shelves from used cardboard. This used cardboard is very easy to get at the nearest shops or buy and sell used goods and the price is also quite affordable. Besides being easy to get, used cardboard is also easy to make several forms of crafts, one of which is a shelf. The shelf that we are going to make is a small shelf model where this shelf is made in various shapes, which will make many people like these models. Here what we need in addition to tools and materials is that we need skills and strong creative power. So that the shelves that we will create can attract consumers to buy. In the community, there are many unique shelves that make consumers want to buy them, but the price is a little less affordable for consumers' wallets. Therefore we take advantage of this situation to make cute accessory racks in order to help consumers more comfortable arranging their accessories or makeup with hemp by using this cute accessory rack that we made. The form of our business is that it is still in an individual stage and indeed this business is still new and is still trying to enter the business world. But we already have our own business brand, namely "RASEL" which means Cute Accessories Rack. In the future, if this business can get extraordinary profits and have enough customers, then we will increase this business to be even bigger.&lt;/p&gt;

MAKING OF BOHEMIAN SKY DECORATION (FRINGE BOHEMIAN)

&lt;p&gt;For the student creativity program in this entrepreneurship class, we run a business program for hanging ornaments made of rope. We give this business the name of Making a Bohemian Ceiling Decoration (Fringe Bohemian). This Bohemian Ceiling Decoration is a craft made from rope. The rope used can be various as desired, such as rope, wool rope, plastic rope, etc. But we are here using the basic material of wool rope. This handicraft business aims to increase creativity and be innovative in entrepreneurship, especially for young entrepreneurs. The hanging decoration business from this rope is easy in the manufacturing process but it takes time and requires patience in making it and the materials needed to make this decoration easy to get. The form of our business is still in an individual stage only. We do not yet have official permission from the government, because this business is still new and is still trying to enter the business world. In the future, if this business can get extraordinary profits and have enough customers, then we will increase this business to be even bigger. Many factors need to be considered in order to advance this Bohemian Ceiling Decoration business. Important factors that must be considered in order to advance this business include choosing the right location, a good marketing strategy and determining affordable prices in the community. If all the factors above can be planned properly, it will be able to make this business grow well. For this reason, it is necessary to make a business plan as a reference in accelerating the business of making Bohemian Ceiling Decorations (Bohemian Fringe).&lt;/p&gt;

ТРАНСФОРМАЦІЯ САУДІВСЬКОЇ МОДЕЛІ ІСТОРИЧНОГО РОЗВИТКУ В УМОВАХ СУЧАСНИХ ВИКЛИКІВ

The article deals with the main features of the Saudi model of historical development transformation. It analyzes a number of factors which forces the process of fundamental updating of the current model of development, which is led by the royal family of Saudi Arabia. The current model of development was based on the extraordinary profits from the oil trade and a fundamentalist Islam, generally known as Wahhabism, is mentioned. Among these factors we should take into account: the steep decrease in the world oil market during 2015–2016; partly replacement of Saudi Arabia by the United States on this market caused by the shale revolution; the significant increase in tensions with Iran for hegemony in the Middle East and because of connection with its military intervention in Yemen. The research shows that the current Crown Prince of Saudi Arabia Mohammed bin Salman, who united the team of young revolutionists – Young Saudis, was the main inspirer and organizer of the "White Revolution". The program of the Kingdom's modern strategic development is reviewed. It determines the new main measures of the historical development, known as "Saudi Vision 2030", and connected with its project "NEOM". The author argues that the principal tasks of "Saudi Vision 2030" and the project "NEOM" are the denial of rent model of economy, becoming Saudi Arabia's transformation into the world biggest investment hub and global center of the meeting of civilizations. The author shows, that deep changes in the economy, finance and investments are accompanied by the huge transformation in the mindsets of society. One of the main components of these changes is the waiver of Wahhabism and transition to the moderate Islam, as well as hasty establishment of the new Saudi identity on the base of active promotion of nationalism that focuses not on religious, but on the state-building aspect of the modern Saudi nation development. The researcher proposes to take into account these new changes in Saudi reality during development of Ukraine-Saudi Arabia relations more carefully and to study this experience in the course of the formation of modern Ukrainian model of historical development.

The Financial Logic of Internet Platforms: The Turnover Time of Money at the Limit of Zero

In the first two sections of Capital, Volume 2, Marx examines the factors that pressure capital to reduce its circulation and turnover times at the limit of zero. By doing so, he shines a light on the role played by transportation and communications industries in the accumulation process and the reasons that these sectors are important frontiers of productive capital investment and surplus value extraction. This article suggests how the Internet’s social-digital platforms, such as Google, Facebook, Amazon and Airbnb, work according to the logic expounded by Marx, thus generating extraordinary profits for financial capital. Also, because of this Marxian logic, the main source of these huge platforms’ profits is the informational work done by millions of people who access these websites to engage in recreational activities or to meet the demands for goods and services in a Society of the Spectacle (Debord) subsumed into commodity fetishism.

Digital Currencies Trading under Polish and EU Public Law

Digital currencies are a worldwide phenomenon gaining an increasing interest among investors, economists and legal scholars. They are used mainly as a new mean of ex-change and as a new way of investing funds, since the rapid changes in their value allow to gain extraordinary profits. Up to this point the legal status of digital currencies has not been clearly established under neither Polish nor EU public law, although some of the existing regulations may be indirectly applied to them. Under current regulations digital currencies cannot be treated as a legal mean of payment, as an electronic money nor a financial instrument. Creation of a complex regulation regarding digital currencies and granting administrative authorities supervisory powers over their trade seems to be necessary. Because of the evolution of financial markets, classifying digital currencies as financial instruments is a possible way of regulating their trade.

UPAYA PREVENTIF BERKEMBANGNYA MONEY GAME DI INDONESIA

Based on the fact lately, there were some methods of seeking treasure in social life nowadays. One of them was Money Game (the term of Money Game actually never found in any encyclopedia neither Wikipedia, but found only for interpretation of Ponzi Scheme Business), through members’ or investors’ recruitment. They were promised getting profit from their membership and investment, more than any bank even conventional or sharia banking ever promised. The last case of Money Game method was Dream for Freedom (D4F), found in year 2015 and ended in April 2016. The founder offered the extra ordinary profit and benefit, such as 1% profit per a day from member’s investment. This condition successfully recruited hundred thousands of members, from the low rank of education to the high one. Indonesian’s Government such as the Financial Services Authority (OJK) actually has been preventing the people from being victims and spreading of Money Game’s methods, but still the founder of any Money Game find the way to eliminate those preventing ways. Therefore Government has to try another way, through involving another institutional, even government’s Institutional or Social’s Institutional and organizations.

Enabling Conditions for Structures of Domination: Java’s Colonial Era “Cultivation System” and Indonesia’s Palm Oil Plantation System in Comparative Analysis

Historians of colonial-era Java have produced considerable debate about how the Dutch colonial era Cultivation System (1830-1870) brought prosperity to the Netherlands in contrast with the fortunes of Javanese societies under the imposition of mandatory production quotas. Separately, palm oil plantation agriculture in contemporary Indonesia, since the mid-1990s, has sparked a different debate on the state’s power to direct development over biodiversity and the rights and existence of Indigenous People. In comparative-historical analysis, the structures of domination in each era provide useful symmetries: the speed of implementation; the realization of extraordinary profits; the adverse incorporation of local communities; and environmental impacts. However, the enabling conditions that underpinned and sustained both the colonial era Cultivation System and the contemporary palm oil boom remain to be explored and applied to the paired agencies of investment capital and the developmental state. From historical accounts, four enabling conditions emerge: a catalyzing crisis; close control over information flows; maintaining an official monopoly over order and violence; and an official discourse intolerant of dissent or resistance. These symmetries in comparison permit an assessment of the state’s role as an agent for an antidevelopment double-action: what Harvey calls “Accumulation by Dispossession” and Santos (2007) calls “Epistemicide.”

Power trading in cognitive radio networks

Cognitive radio technology has been proposed to improve spectrum utilization by sharing the frequency spectrum bands between licensed and unlicensed users, called primary users (PUs) and secondary users (SUs), respectively. The main objective of the SUs is to achieve their quality of service (QoS) by exploiting the unused parts of the spectrum, while the PUs aim to reap extraordinary profits by leasing their unused portions of the spectrum. Pricing and transmission power are two key issues of interest to both PUs and SUs. Game theory has been considered as a useful tool for discussing the power control issue in wireless networks. In this paper, we consider the issue of power trading and propose two different models. First, a power-pricing model without game theory is developed, wherein the PUs obtain some revenue by renting their unused frequencies to SUs that use suitable power levels to transmit. The suitable power level ensures that the use of the spectrum by SUs does not interfere with other users in the network. Second, a non-cooperative game is applied to the proposed pricing model among the system users (i.e., PUs and SUs), to create balance between them. This balance point is known as the “Nash equilibrium.” Performance evaluations of the proposed models are provided, demonstrating their efficiency and how they help in using the frequency spectrum more efficiently. The developed models allow the PUs to increase their gained profit while the SUs can use the spectrum for their data transmissions.