Fiscal Return Research Articles

Теоретичні засади розвитку суб’єкта підприємництва в умовах невизначеності

The development of entrepreneurship is considered as a component of social development, which is carried out in three directions: evolutionary, involutional, and abrupt acceleration. The necessity of forming a policy of development of entrepreneurship in Ukraine is indicated and its main tasks are allocated, namely: increasing the volume of production and export of products of Ukrainian enterprises, the formation of new enterprises, ensuring the proper level of satisfaction of domestic demand with goods and services; demonopolization of markets for goods and services and establishment of effective competition in the domestic market; increase and diversification of employment; achievement of an effective fiscal return on business development while maintaining favorable conditions for its development. The general goals of entrepreneurship management include the process of forming a strategy for activity and development and adaptation of business processes of enterprise. It is noted that decision-making by entrepreneurs in conditions of uncertainty should be based on the study of its theoretical foundations, where it is considered in several types: when the results of activities are known and it is possible to predict them; when the results are known, but the probability of them cannot be estimated; when the results are not known and it is not possible to estimate the probability of their occurrence. For the purpose of effective management of the business structure, it is expedient to classify uncertainty by the following types: by methods of determining the probability of occurrence of cases and by the object of uncertainty. Among the main tasks of entrepreneurship management, reducing the likelihood of adverse events and avoiding negative consequences and risks, including strategic ones, are allocated, since the development and implementation of strategic management decisions are the basis for ensuring sustainable development of entrepreneurial entities. It is noted that changes in the institutional environment have an impact on the dynamics of uncertainty. In order to improve business conditions, informal and formal institutions must be aligned, which is a transformation of uncertainty. Directions for the development of entrepreneurial structures have been identified, which should coordinate their actions with the State structures to form an institutional environment. Among such areas, the following are highlighted: creation of commodity exchanges and wholesale markets for products of local producers; formation of market infrastructure of scientific and innovative activities; orientation of commercial banks to the real sector; creation of consulting and leasing firms; development of the stock market, including the formation of the corporate securities market; formation of logistics centers.

Ukraine’s rural areas in the conditions of decentralization and local self-government reform: challenges and prospects

Purpose. The purpose of the study is to determine the state, identify the main challenges and risks affecting rural development in Ukraine, and assess their influence on the effectiveness of functioning and financial capacity of rural territorial communities in the conditions of power decentralization and self-government reform.
 Methodology / approach. The methodological basis of the research was a systematic approach to the study of the investigated phenomena and processes and the dialectical method of cognition, as well as general scientific and special methods. In order to assess the state and trends of rural development in Ukraine, economic and statistical methods were used in analytical studies (comparative analysis to compare the results obtained in certain years, average and relative values, trend analysis, index analysis, etc.). This was done to establish certain relationships, such as identity, similarity, or difference between characteristics and facts. To determine the influence of individual factors on the operational efficiency and financial capacity of territorial communities, multiple correlation and regression analysis was used. A number of abstract-logical techniques made it possible to formulate intermediate and final conclusions and proposals.
 Results. Current conditions are analyzed and trends of rural development in Ukraine for 1990–2022 are determined. It was found that over the past 32 years, the socio-economic crisis in rural areas continues to worsen, which is manifested in declining employment rates, increasing unemployment, rising poverty, mass migration of peasants, deterioration of infrastructure and access to social services. The main challenges and problems of rural development have been identified and systematized by groups: socio-demographic, economic, environmental and nature protection, institutional, political. To assess the factors influence on the effectiveness of functioning and financial capacity of territorial communities, a multifactorial correlation and regression analysis was conducted. It was found that the level of capital expenditures is most affected by the fiscal return of the community territory per 1 inhabitant. 
 Originality / scientific novelty. The elements of scientific novelty consist in the introduction of a systematic approach to generalizing challenges and problems affecting the development of rural areas and communities, which were systematized by groups: socio-demographic, economic, environmental and nature protection, institutional, political. The scientific and methodological foundations of studying the socio-economic situation in Ukraine’s rural areas in terms of determining the factors and assessing their influence on the effectiveness of functioning and financial capacity of rural territorial communities have been further developed.
 Practical value / implications. The identification of factors and their influence on the functioning effectiveness and financial capacity of rural territorial communities can be taken into account by state institutions when reviewing previously adopted documents and elaborating strategic plans for the restoration and development of Ukraine’s rural areas, taking into account internal threats and the long-term external aggression of the russian federation against Ukraine.

321 Transfer of Care to a Clinical Nurse Specialist Pathway for Patients Undergoing Exogen Therapy Improves Outcomes, Compliance, and Refund Rate

Abstract Aim Exogen (low-intensity pulsed ultrasound) has been shown to improve union rates following delayed/non-union. It is accompanied by a money-back guarantee in unsuccessful cases, dependent on adequate patient compliance. Using a clinician-run pathway, our unit’s results were poor, so our aim was to create a clinical nurse specialist (CNS) pathway with protocols for recording outcomes, collecting data, and claiming refunds for unsuccessful cases. Method This was a single-centre, retrospective, multi-cycle audit performed over 60 months on patients undergoing Exogen treatment for delayed/non-union following elective foot and ankle arthrodesis. Data was collected on union rates, Exogen compliance, and refund collections. Results were compared (Chi-squared test) for the original cohort (n = 55) and the CNS-led cohort (n = 18). Results In the original cohort, 24 patients (43.6%) united (mean time 225 ±145 days). Only 14 (25.5%) had treatment compliance accurately recorded and compliance rate >95%. Of 31 patients whose Exogen treatment failed, only 7 (22.6%) were eligible for a treatment cost refund due to lack of compliance / record of compliance. In the CNS-led cohort, 12 (66.7%) patients united (mean time 190 ±77 days, p = 0.089). Sixteen patients (88.9%) had compliance accurately recorded (p<0.001), with increased compliance rates (>99%). Exogen treatment costs were refunded for 5 patients (83.3%) with residual non-union (p = 0.004). Conclusions Transferring patient care to a dedicated CNS-run pathway led to a non-statistically significant increase in union rates, and significantly improved compliance and fiscal return rates. Establishing dedicated protocols with paramedical staff can be cost-effective and improve outcomes, whilst reducing out-patient burden in surgical clinics.

Show me the money: how do we justify spending health care dollars on digital health?

Show me the money: how do we justify spending health care dollars on digital health?

Estimating the government public economic benefits attributed to investing in assisted reproductive technology: a South African case study.

Limited resources and high treatment costs are arguments often used in many public health systems in low- and middle-income countries to justify providing limited treatments for people with infertility. In this analysis, we apply a government public economic perspective to evaluate public subsidy for in-vitro fertilization (IVF) in South Africa. A fiscal model was developed that considered lifetime direct and indirect taxes paid and government transfers received by a child conceived by IVF. The model was constructed from public data sources and was adjusted for mortality, age-specific educational costs, participation in the informal economy, proportions of persons receiving social grants, and health costs. Based on current proportions of individuals receiving social grants and average payments, including education and health costs, we estimate each citizen will receive ZAR513,165 (USD35,587) in transfers over their lifetime. Based on inflated age-specific earnings, we estimate lifetime direct and indirect taxes paid per citizen of ZAR452,869 (USD31,405) and ZAR494,521 (USD34,294), respectively, which also includes adjustments for the proportions of persons participating in the informal economy. The lifetime net tax after deducting transfers was estimated to be ZAR434,225 (USD31,112) per person. Based on the average IVF investment cost needed to achieve one live birth, the fiscal return on investment (ROI) for the South African Government is 5.64. Varying the discount rate from 4% to 7%, the ROI ranged from 9.54 to 1.53, respectively. Positive economic benefits can emanate from public financing of IVF. The fiscal analytic framework described here can be a useful approach for health services to evaluate future public economic benefits.

Evolution of the Greater Manchester Nutrition and Hydration Programme.

Older adults in the community are at risk of malnutrition and dehydration. The present article aims to outline an intervention and a population-health approach to raise awareness of the importance of good nutrition and hydration in later life. This was addressed by developing strong partnership working, governance frameworks and local steering committees. Through the Greater Manchester Nutrition and Hydration Programme, 39 500 older people have been asked about appetite and weight loss and/or used the PaperWeight Armband to date. A total of 5586 people from this population were found to be at risk of malnutrition. All were provided resources, advice and signposting to address this issue. The gross fiscal return on investment over a 5-year period was 3.2-fold and the net present budget impact was £800 000. The long-term cashable fiscal return on investment was estimated at 2.69. This very promising approach has potential to enable older adults to extend their healthy life span and deliver cost savings to the health and care system.

Hard times for long-term care systems? Spillover effects on the Spanish economy

Since the end of the last century, demographic aging has led to an increased demand for new social protection services. Universalizing these to meet the needs of the most vulnerable requires the design of policies that ensure the sustainability of the system. Consequently, the economic structure of a country and its productive fabric are affected. Assessing the impact of this growing demand is not an easy task, although extended input-output models can help. With this aim, we determine the spillover effects of the demand shocks arising from the increase in public spending allocated for the implementation of the Spanish long-term care system. The results reveal that such spending proves efficient in sustaining 116,000 jobs, most of which are in social work activities, entailing a large amount of direct but low-skilled employment. In addition, 5,000 million euros are generated in value added, including a fiscal return of 1,400 million euros.

Making Hard Choices in Local Public Health Spending With a Cost-Benefit Analysis Approach.

Background: In 2013, public health moved into Local Authorities, but initial optimism has been overtaken by serious ongoing financial constraints and an uncertain future. Hard choices have become an everyday reality across local authorities and for their public health teams. Assessing the return-on-investment of public health interventions and possessing economic evaluation skills have become more critical than ever before.Methods: Using the New Economy cost-benefits-analysis model developed at the Greater Manchester Combined Authority, we undertook cost benefit analyses of some of our largest areas of commissioned spend in local public health practice to better understand both the public and fiscal returns of our interventions.Results: The cost-benefit analyses indicated considerable variation in the public (economic and social) returns-on-investment for our spend on services purchased as a commissioner with £1.37 to 6.81 returned for every £1 spent, and a fiscal return for every £1 invested of between £0.54 and 1.37. Additionally, the fiscal benefits (reduced service costs) of these public health interventions appear to primarily flow to the NHS, which accounts for about 94% of the fiscal return.Conclusion: While cost-benefit modeling cannot provide a complete picture of “value,” it does provide decision-makers with a transparent metric that facilitates a whole-of system discussion on “intervention value” and prevention at scale investments. This approach will support investment strategies when implementing Sustainability and Transformation Partnerships and Integrated Care Systems. However, these tools should be used to support robust decision-making processes, not as a replacement for or a short-circuiting of existing processes.

Research of the role of the water management complex in the formation of financial flows

In this study, the role and characteristics of water-economic rent in the generation of ecological financial flows is shown. The potential of such payments is determined on the basis of comparison of the actual indicators with the imputed ones. The calculations of actual and imputed rent (for closing costs) for the branches of the economy and regions are carried out. The combination of these approaches makes it possible to see the current level of rental income and determine the prospects for their adjustment. In the regional context, the level of economic development influences the formation of rent. Those regions that have the highest rates of actual payments are the leaders and for the closing costs. To characterize the water management complex as a market participant, the indicators of fiscal return and investment return of water use are calculated. In contrast to expectations, in the regions, the most consumed water (due to population growth, industrial facilities), fiscal return is less. A greater fiscal impact of rental payments for water use is found in regions with lower levels of economic development. The reasons for this situation include the current tax rates (according to the Tax Code of Ukraine) and the insignificant volume of consumed water. Therefore, in order to increase the efficiency of the water management complex in financial markets, it is necessary to take into account the level of economic development of a particular region by adjusting existing rates for special water use or introducing additional coefficients. The overall value of the investment return of water use for Ukraine is 0.155. Like indicators of fiscal returns, regions with a lower level of economic development will be more effective in investing. In general, the main strengths of rental income can be attributed to the stable formation of local and state budgets, their situational growth, the strengthening of the role of local revenues. Among the negative factors are low indicators of actual water rent, significant differences between actual receipts and potential like. Opportunities and threats are associated primarily with the significant potential and the influence of unfavorable factors.

PRS5 - Tax Losses and Gains Attributed to Smoking Cessation in Korea

Conventional economic analyses of smoking cessation may exclude important economic gains. From the governments’ perspective, smoking represents a source of tax revenue and a public health cost. Apart from smoking-attributable mortality and morbidity, there is an established relationship between smoking and reduced productivity. In this research we assess how public investments in smoking cessation that changes productive output can influence future government tax revenue and social transfer costs. The analysis described here follows the generational accounting framework developed to assess intergenerational relationships between morbidity and mortality and lifetime tax revenue and social transfers for government. Based on the current prevalence of smoking in Korea, a cohort model was developed for smoker, former-smokers and non-smokers. The model simulated the lifetime discounted fiscal transfers for each of the aforementioned segments in Korean Won (KRW) based on 2012 costs. In addition to the health costs, smoking results in foregone earnings and tax due to premature mortality and decreased productive output of smokers. The average per person health cost savings from smoking cessation were estimated at KRW974,000. Smoking cessation resulted in average lifetime tax revenue gain of KRW 4,214,120 and KRW 1,442,050 per person for the age groups of 24-45 and 45-65, respectively. The corresponding average tax revenue loss due to lower tobacco consumption were KRW2,085,023 and KRW 883,014. The average fiscal return on investment from smoking cessation for all age groups was estimated at 1.27. Investing in smoking cessation was estimated to have positive fiscal returns for the government due to reduced mortality, morbidity, increased productivity and wages. Although ROI declined by age, reduced smoking prevalence generated significant per person tax revenue gains for government across all ages. After factoring in expected tobacco tax revenue loss from quitting smoking, the net tax revenue for the Korean government was positive.

IS RADICAL INNOVATION MANAGEMENT MISUNDERSTOOD? PROBLEMATISING THE RADICAL INNOVATION DISCIPLINE

This paper poses a critical view on radical innovation (RI) management research and practice. The study investigates how expected RI performance influences firms’ understanding of their RI capability. RI performance is often based on output measures such as market shares or fiscal return. On the contrary, RI capability building advocates for exploration, learning, and accepting uncertainty. Hence, RI capability building often focuses on the processes of the firms, and not the outcome. Thus, it is argued that the RI capability-building and RI performance expectations are based on different managerial orientations. Coupling a discussion of the literature with case findings from four large international firms, this paper identifies a discrepancy between RI capability-building and RI performance within literature and practice. This is regarded to be a major contributing factor to RI program failure. This study presents three misunderstandings related to RI research and practice and discusses implications of these findings.

Green ICT practices in event management: case study approach to examine motivation, management and fiscal return on investment

Events are a key component to tourism and play an active role in the development and marketing of a destination (Getz 2007). Festivals, in particular, are an exciting way for communities to celebrate culture, sense of place and social change (Picard and Robinson 2006). However, events’ impact on environmental sustainability has been difficult to measure due to their short duration, high visitor volume, diversity of clientele, and the intangible nature of the event experience (Getz 1989). Proenvironmental attitudes are being adopted by governing agencies that support event planning, although debate surrounds the most efficient means to integrate such goals (Mair and Laing 2013). Fredline et al. (2005) argue that sustainability in event management must be promoted through planning and management practices that deter negative outcomes and encourage positive ones. However, the more traditional motivation for green events come from a need to improve the financial bottom-line rather than a commitment to environmental values (Mair and Jago 2010) and technology is seen as an avenue to achieve this. The management and adoption of ‘‘Green ICT’’ in event businesses are just beginning to be broached in academic circles. Information communication technology (ICT) has become a holistic integrated system of networked equipment and software, which enables effective data processing and communication for an organisation’s benefit (Buhalis and Law

Payment by results and social impact bonds in the criminal justice sector: New challenges for the concept of evidence-based policy?

Payment by results allows the government to pay a provider of services on the basis of the outcomes their service achieves rather than the inputs or outputs the provider delivers. Social impact bonds (SIBs) are a form of payment by results which allow the financing of social outcomes via private investment. It is suggested that payment by results and SIBs will drive greater efficiency, innovation and impact in tackling social problems through focusing reward on outcomes and providing minimal prescription as to how these outcomes should be achieved. It is suggested that this may be achieved while also reducing risk for government. Here we set out the challenges likely to arise in developing payment by results models and SIBs in the criminal justice system of England and Wales. These include the uncertainty arising from defining outcomes, estimating the potential impact of interventions, measuring and attributing change, valuing benefits, demonstrating a fiscal return and getting interventions to scale. We conclude that, to a government trying to deliver ‘more for less’, payment by results may offer an attractive solution in some parts of the public sector. However, the case for this approach in the criminal justice sector, where the evidence base is contested and potential savings difficult to quantify and realize, is not yet proven.

Bilbao's Art Scene and the “Guggenheim effect” Revisited

The article analyzes the effects of the Guggenheim Museum Bilbao (GMB), adopting a new research perspective and trying to pursue the links between the museum and Bilbao's art scene. Until now, the impact of the museum has been analyzed from two different perspectives. The first focused on the urban development and regeneration aspects and the success of the museum as a tourist magnet and an image-making device. The second perspective concentrated on the direct economic benefits of the museum, i.e. direct returns and effects on the economy. The missing lens in previous analyses, however, was the impact of the museum on the city's art landscape, including the art support activities. In this context, the article describes for the first time in a detailed way how the GMB has contributed to the shaping and propulsion of changes on commercial and non-profit art spaces in Bilbao. Although it is clear that other factors may play a role, it can be asserted that the effects of the museum are not only limited to an increase in tourism or fiscal return, but also contribute to the development and spatial articulation of the local art scene and public support of the arts.

Editorial

Editorial POSTSECONDARY EDUCATION FEDERALLY ESTABLISHED REGIONAL PROGRAMS Over the last two decades the federal government has helped develop four regional programs for deaf and hard-of-hearing students. These are the St. Paul Technical Vocational Institute (TVI), California State University at Northridge (CSUN), Delgado Community College, and Seattle Central Community College. Two of these programs have been absolutely outstanding and the other two have been well above average. All have objective follow-up data demonstrating the dividends returned on the educations they provide. In the face of this record of success, including excellent fiscal return on tax dollars invested, it is sad that these four programs now face possible extermination because of withdrawal of federal support. The government seems unable to distinguish between an expense and an investment. The paradox these proposed cutbacks represent is especially pronounced when one considers the huge influx of rubella-deafened youth who will be needing postsecondary education during the next five years. This influx has been fully documented by epidemiological studies and is a clear and indisputable fact. Rehabilitation Centers and Programs Seven rehabilitation programs exist in the U.S. that serve primarily those postsecondary deaf students who cannot or choose not to attend 4year or community colleges. These programs are highly or totally dependent on state rehabilitation funds. As these funds have been cut drastically at a national level, the rehabilitation centers have made gross reductions in the support services necessary for meaningful participation on the part of most deaf clients. The effects of these cutbacks are especially damaging to those deaf youths who are most in need of services. It was these few rehabilitation programs that were trying to meet the needs of the lower third of the deaf population desperate for training. If this third of the deaf population is to survive as economically independent contributing members of society, they must have comprehensive vocational rehabilitation training. Federally Established National Programs Historically, Gallaudet College and the National Technical Institute for the Deaf have been treated generously by the federal government . While they too now face fiscal cutbacks in the face of the increasing needs represented by the "rubella bulge," there are cushions in their budgets which do not exist in the other postsecondary programs. Other Postsecondary Programs There are about 34 other postsecondary programs in the U.S. that have some support services for deaf students. These programs vary tremendously in quality. Most provide training for local clients only. All of these programs depend to some extent on state vocational rehabilitation funds, which in turn depend directly on matching federal money. These federal funds have been drastically cut, crippling the 34 local programs for deaf clients. Overview The network of 48 postsecondary programs with support services for deaf youths and adults is facing near annihilation due to federal fiscal cutbacks. The problem is compounded by federal efforts to take the teeth out of the VR Act of 1973 (and revisions) and P.L. 94-142. This further erodes the financial resources available by eliminating interpreting services and other aspects of equal access. A national plan to meet the postsecondary needs of deaf youth is needed. The current fiscal cutbacks jeopardize all but two of the programs now available. Without adequate postsecondary opportunities, most deaf youth will face unemployment or dead-end routine jobs with low pay and little job satisfaction. McCay Vernon, Ph.D. Editor ANNOUNCEMENT The Annals has changed its subscription policy from a calendar year basis to an annual anniversary basis beginning with the February 1983 issue. February 1983 issues are being sent to unrenewed subscribers to minimize problems as a result of this change of policy. Future subscriptions will terminate 1 or 2 years from receipt of renewal. A.A.O. I February 1983 ...

Agricultural extension as an economic investment

In the spring of 1971, I was asked the following questions in connection with the rice programme in the highlands of Madagascar: how can the value added and the fiscal return of extension be assessed and worked out in such a way that the results are comparable with the profit and loss account of capital investments; under what conditions are extension projects credit-worthy; when should they be begun; how intensive should they be; when should the expenditure on extension begin to be reduced; when should a project cease? The following brief exposition of an economic theory of extension attempts to provide a basic answer to these questions.