Large Payments Research Articles

Penerapan Angsuran Pajak Penghasilan Pasal 25 Bagi Wajib Pajak Badan untuk Efisiensi Keuangan CV Visi Printing

This study discusses the implementation of Article 25 Income Tax (PPh) installments for corporate taxpayers, specifically at CV Visi Printing, and its impact on the company's financial efficiency. Article 25 PPh is a tax paid periodically throughout the fiscal year based on estimated tax liabilities, aimed at helping companies manage their tax obligations more effectively. This research employs a qualitative method with an analysis of the financial statements of CV Visi Printing for the year 2022. The results indicate that the Article 25 PPh installment applied by CV Visi Printing, amounting to Rp 3,553,000 per month, positively affects the company's cash flow efficiency. This gradual tax payment helps the company maintain liquidity and reduces the burden of a large tax payment at the end of the year. Furthermore, with proper tax planning, CV Visi Printing can allocate financial resources more effectively to support other operational activities. The implementation of this tax installment also enhances the company's tax compliance, avoiding potential penalties, and maintaining the company's financial stability in the long term. The study concludes that the application of Article 25 PPh installments plays a crucial role in improving the company's financial efficiency through better cash flow management and optimal tax planning.

Pharmaceutical industry payments to healthcare professional organisations in the United Kingdom: a seven-year cross-sectional analysis of the Disclosure UK database from 2015 to 2021.

This study aimed to examine the size and trends in payments from the pharmaceutical industry to healthcare professional organisations (HPOs) in the United Kingdom (UK), and to characterise the conflict of interest (COI) management plans by HPOs who received large payments. Cross-sectional analysis of non-research payments disclosed in the Disclosure UK database from 2015 to 2021. United Kingdom. 148 pharmaceutical companies disclosing payment data and HPOs receiving the largest payments. Total value and median of payments per HPO; existence and content of COI policies among HPOs receiving the largest payments. A total of 898 HPOs received non-research payments worth £99.9 million (17.4% of non-research payments to all healthcare organisations). The median seven-year payment per HPO was £4509 (interquartile range: £943-£30,360). The annual payments nearly doubled from £9.3 million in 2015 to £17.6 million in 2021. Event payments constituted the largest share (£68.2 million, 68.2%). HPOs representing physicians received over 91.5% (£91.5 million) of all payments, while those related to endocrinology and diabetology - 16.3% (£16.3 million). Over 59.9% (£59.9 million) went to the 30 top-funded HPOs, of which only 17 (56.7%) had a publicly accessible COI policy. However, just 6 (35.3%) of these policies included provisions for payments from external organisations. HPOs received nearly one-fifth of pharmaceutical company payments to the UK healthcare sector. These payments were concentrated among a small number of HPOs, which often lacked effective policies for management of COI and payments from the industry.

The Impact of the Pay-What-You-Want Pricing Experience on Customer Behavior: Focus on Willingness to Participate in Value Co-Creation

While Pay-What-You-Want (PWYW) gives customers pricing control, prior research has primarily emphasized its financial aspects, leaving its impact on non-financial outcomes, such as post-PWYW customer behavior, largely unexplored. In particular, the non-financial effects of PWYW have not been fully examined after controlling for the effects of increased self-efficacy due to pre-payment service use. We hypothesized that customers with higher self-efficacy due to service use and larger payments in PWYW will demonstrate a stronger willingness to participate in value co-creation. Results of online experiments using a hypothetical scenario centered on new-age music confirmed the hypothesis. This study broadens the scope of PWYW studies in two significant ways. First, it suggests that power derived from service experience and confidence should be distinguished from that derived from pricing mechanisms. Controlling for changes in power derived from service use accurately determines the relationship between PWYW and power. Second, this approach explores non-financial outcomes, particularly the influence of the PWYW experience on customers’ willingness to participate in value co-creation, and provides empirical evidence. Additionally, we provide practical insights for companies considering PWYW adoption, emphasizing the influence of the PWYW experience on customer–provider relations.

Do Firms Gain From Managerial Overconfidence? Managerial Bargaining Power and the Role of Severance Pay

ABSTRACTWe analyze the effects of optimism and overconfidence when the manager has bargaining power and the compensation package includes severance pay. Optimism implies that the manager overestimates the probability of success, while overconfidence induces the manager to overestimate the increase in the probability of success due to her investment. If the manager can renegotiate the initial contract, the advantage of using severance pay to induce the manager to invest, commonly found in the literature, is reduced by the presence of the biases. Optimism increases severance pay and managerial entrenchement with a negative effect on expected profit. Overconfidence reduces incentive pay, as shown by the previous literature, but its effect on severance pay depends on the intensity of the bias. A moderate overconfidence reduces severance pay and increases expected profit. Conversely, extreme overconfidence increases severance pay and this may offset the beneficial effect on incentive pay. Thus, the attempt to exploit managerial overconfidence to reduce incentive pay may backfire if the manager is replaced. Our model suggests that the large severance payments documented by the empirical literature represent a form of efficient contracting when the optimistic and overconfident manager has bargaining power.

Earlier Decision on Detection of Ransomware Identification: A Comprehensive Systematic Literature Review

Cybersecurity is normally defined as protecting systems against all kinds of cyberattacks; however, due to the rapid and permanent expansion of technology and digital transformation, the threats are also increasing. One of those new threats is ransomware, which is a form of malware that aims to steal user’s money. Ransomware is a form of malware that encrypts a victim’s files. The attacker then demands a ransom from the victim to restore access to the data upon a large payment. Ransomware is a way of stealing money in which a user’s files are encrypted and the decrypted key is held by the attacker until a ransom amount is paid by the victim. This systematic literature review (SLR) highlights recent papers published between 2020 and 2024. This paper examines existing research on early ransomware detection methods, focusing on the signs, frameworks, and techniques used to identify and detect ransomware before it causes harm. By analyzing a wide range of academic papers, industry reports, and case studies, this review categorizes and assesses the effectiveness of different detection methods, including those based on signatures, behavior patterns, and machine learning (ML). It also looks at new trends and innovative strategies in ransomware detection, offering a classification of detection techniques and pointing out the gaps in current research. The findings provide useful insights for cybersecurity professionals and researchers, helping guide future efforts to develop strong and proactive ransomware detection systems. This review emphasizes the need for ongoing improvements in detection technologies to keep up with the constantly changing ransomware threat landscape.

Industry relationships with interventional radiologists: Who are the high payment physicians?

PurposeTo identify characteristics of interventional radiologists receiving more than $100,000 in general industry payments over a 5-year period (2017-2021). MethodsThe Open Payments database was queried to identify interventional radiologists who received more than $100,000 in consulting fees, speaker fees, education, and/or gifts over a 5-year period from 2017 to 2021. The national provider identifier registry, Scopus, and a web-based search were used to identify physician characteristics, such as demographics, research profile, leadership positions, and social media presence. ResultsFrom 2017-2021, 125 interventional radiologists received cumulative payments greater than $100,000 in consulting fees, speaker fees, education, and gifts. For this subset of physicians, the median (IQR) cumulative payment value was $214,380 ($141,812 - $383,740), and the total payment value was $40 million. While the highest-paid subset of physicians represented only 3 % (125/4272) of all US interventional radiologists paid by industry, the total payment value represented 66 % ($40,039,610.08/$60,859,025) of the total payment value among all interventional radiologists. 47 % (59/125) had faculty appointments and 30 % (37/125) had hospital leadership positions. 22 % (27/125) were clinical practice guideline authors, while 18 % (23/125) served on journal editorial boards and 12 % (15/125) had positions in specialty association leadership. Castle Connolly recognized 26 % (32/125) as top doctors. Among the 96 % (120/125) with published research in the past 5 years, the median (IQR) H-index was 17 (7-31). 38 % (48/125) had a presence on Twitter with a median (IQR) Kardashian index of 2.03 (0.48-6.16). ConclusionA small subset of interventional radiologists receive large payments from drug and medical device companies. These physicians are leaders in their field with influence in hospitals, research, associations, and social media. Further work is needed to understand how the concentration of these payments affects decisions in clinical practice and policy.

Financial conflicts of interest in Japanese obstetrics and gynaecology clinical practice guidelines

AbstractThis commentary analysis evaluated the size and prevalence of financial conflicts of interest among authors of Japanese obstetrics and gynaecology clinical practice guidelines. Our analysis found that 66% of all authors received personal payments totalling US$1.2 million during the guideline development period. Furthermore, the guideline chairpersons received much larger payments than those to other authors.

Secondary Benefits of Manipulation Checks: Three Illustrations From Behavioral Public Administration

Manipulation checks in behavioral public administration are commonly used and reported to determine if the experimental and control group have received different treatments. This paper uses three experiments to argue that manipulation checks for experimental treatments can have secondary benefits that can be used to improve the quality of behavioral work in the field. The three cases address the importance of using more clear terms in experimental manipulations (government v. public), using different on-line platforms to recruit experimental subjects (Mechanical Turk, Prolific, and Data.Spring), and whether larger payments more produce more attentive subjects.

A computational model of bilateral credit limits in payment systems and other financial market infrastructures

This paper provides the first steps towards a theoretical and structural modelling framework through which optimal decision making in financial market infrastructures such as payments clearing and settlement systems can be assessed from a market microstructure perspective. In particular, the paper focuses on the application of agent-based computational economics and stochastic games in modelling the bilateral credit limit establishing behaviour of Participants in loss sharing arrangements within financial market infrastructures such as the Canadian Large Value Payments System (LVTS). With specific focus on the LVTS, the paper presents a structural model where the payments system represents a market in which bilateral credit limits are the pricing mechanisms for intraday liquidity provisioning and the credit risk arising from the loss sharing arrangement. The data-driven stochastic game framework further illustrates how payments data, in conjunction with other financial market and credit data, can be used to assess emergent macroscopic outcomes in clearing and settlement systems from the underpinning interactions of autonomous decision making agents. The paper speaks to potential policy issues such as the effectiveness of policy levers such as the System-Wide Percentage, regulatory concerns around procyclicality and free-riding arising from the market microstructure behaviours, and design of the System.

Confronting High Costs And Clinical Uncertainty: Innovative Payment Models For Gene Therapies.

Gene therapies offer potentially life-changing benefits for patients, but their unprecedented high prices exacerbate challenges for reimbursement. Payers must confront high budgetary impacts, as a large up-front payment for each patient makes it difficult to predict and absorb costs. Payers also face considerable clinical uncertainty, as evidence for efficacy and durability is limited at approval. Alternative payment models may address these reimbursement problems and ensure equitable patient access. We developed a taxonomy of possible payment mechanisms for gene therapies, including installments, risk pools, reinsurance, price-volume agreements, expenditure caps, subscriptions, outcomes-based payments and rebates, warranties, population outcomes-based agreements, and coverage with evidence development. We illustrate how these payment models take three main approaches: amortization, which mitigates initial budget impact by spreading payments over time; risk spreading, which makes budgets more predictable by pooling costs with other payers or capping costs based on expected volume; and performance-based payment, which addresses clinical uncertainty by tying prices to patient- or population-level outcomes. We discuss each payment model, its advantages and challenges, and considerations for US payers.

Measuring the impact of a failing participant in payment systems

Large banks and critical financial market infrastructures (FMIs) that are not able to fulfill their payment obligations, for example following a bankruptcy or cyber-attack, can be a source of financial instability and contagion in the financial system. This paper develops a composite risk indicator to evaluate the criticality of participants in a large value payment system network, combining liquidity risk (i.e. size of incoming and outgoing payments) and systemic impact or interconnections between network participants in one approach. It is applied, as a proof of concept, to the TARGET2 payment system that links banks and FMIs in a tight network of interdependencies. We find that the most critical participants in TARGET2 are other payment systems (large value and retail) because of the underlying gross size of their payment flows. Some banks may be critical, but this is mainly due to their interconnectedness with other TARGET2 participants. Central counterparties and central securities depositories are less critical to the payment system. Our findings can be used by (1) financial stability experts to evaluate the impact of a failing critical participant in the financial system, and (2) central banks in their role as payment system operator and overseer. Besides, it feeds into policy discussions on payment system access, oversight, and crisis management.

What role do young people believe Universal Basic Income can play in supporting their mental health?

ABSTRACT The proportion of 16- to 24-year-olds in England reporting a longstanding mental health condition increased almost 10-fold between 1995 and 2014. Studies demonstrate an association between income and anxiety and depression, with bi-directional effects. There is also emerging evidence that cash transfers may mitigate, prevent or delay those conditions. This article presents qualitative data exploring the relationship between income and anxiety and depression and the prospective impact of Universal Basic Income (UBI) as a public health measure. Data was gathered from citizen engagement workshops with 28 young people aged 14–22 from Bradford, England. We present four findings: (i) participants believe that the current work and welfare system has a detrimental impact on their mental health; (ii) most participants believe that UBI would have positive impacts on their mental health by virtue of reducing financial strain; (iii) most participants appear to favour a UBI scheme with larger payments than have traditionally been proposed; (iv) participants believe that there are non-financial benefits of UBI, such as reduction in stigma.

Does Identity Affect Labor Supply?

How does identity influence economic behavior in the labor market? I investigate this question in rural India, focusing on the effect of caste identity on job-specific labor supply. In a field experiment, laborers choose whether to take up various job offers, which differ in associations with specific castes. Workers are less willing to accept offers that are linked to castes other than their own, especially when those castes rank lower in the social hierarchy. Workers forgo large payments to avoid job offers that conflict with their caste identity, even when these decisions are made in private. (JEL C93, D91, J15, J22, O12, Z13)

ON THE MONETARY UNITS IN THE GRAFITO 25 FROM ST. SOPHIA CATHEDRAL IN KYIV

In the paper the author attempts to analyze the little-known monetary units of the 12th century mentioned in the grafito 25 from St. Sophia Cathedral in Kyiv. Grafito was discovered in the Apostles’ side-chapel of the Cathedral by Ukrainian researcher Dr. Sergey Vysotsky. Grafito reports about the purchase of «Boyan’s land» by Vsevolozha Princess for «seventy grivny sobolii» or «seven hundred dranits». There is no consensus on the dating of the inscription in historiography, different authors date it since the early until the second part of 12th century (identified with the widow of Vsevolod Olgovich, who died in 1179 or second wife of Vsevolod Yaroslavich, after 1111). The analysis of written sources, linguistic, numismatic and archeological data allows the author to suppose the equivalent of «dranits» and Byzantine scyphate (concave) gold coins. Money hoards and single finds show the important part of the golden Byzantine scyphate coins of 12th—14th centuries in the economic and cultural life in the Rus. Such coins are absolutely dominated in the finds of the gold coins in Ukrainian lands. Treasures with gold Byzantine coins of 11th—12th centuries were found with decorations and the gold ingots and silver grivnas in Kyiv (once near St. Sophia Cathedral). Byzantine gold coins with different gold purity were brought to Rus and were the main source for the gold ingot and decoration. Byzantine gold coins appeared to be the main currency in the international transactions but also in the local large payments in Rus. The monetary systems of the Old Rus principalities were established on the basis of the Byzantine monetary system. Litra of gold was fixed in the Old Rus sources.

Balanced Off-Chain Payment Channel Network Routing Strategy Based On Weight Calculation

AbstractOff-chain payment channel network is an effective solution to deal with low throughput and high load on the blockchain. However, the quality of the routing scheme will directly affect the performance of the off-chain network system. Existing routing schemes cannot select an appropriate transaction path according to the actual needs of user nodes. And they may also lead to network congestion, channel imbalance and node centralization. This paper proposes a new balanced routing selection scheme based on weight calculation called BRBW, which builds a weight model by Analytic Hierarchy Process. BRBW comprehensively considers the channel capacity, handling fee and path length to improve transaction success rate, reduce channel congestion and maintain the long-term sustainability of the payment channel. It uses a modified maximum flow algorithm to find paths with sufficient capacity and selects the transaction path for a large payment through linear programming. Finally, we do some experiments and compare with state-of-the-art approaches in the test environment. Simulation results show that under the same network environment, the payment success rate of the BRBW is above 75%, and the channel utilization rate is about 10% higher than other schemes.

Income, Liquidity, and the Consumption Response to the 2020 Economic Stimulus Payments

Abstract The 2020 CARES Act directed large cash payments to households. We analyze households’ spending responses using data from a Fintech nonprofit, exploring heterogeneity by income, recent income declines, and liquidity as well as linked survey responses about economic expectations. Households respond rapidly to payments, with spending increasing by about $0.14 per dollar during the first week and plateauing around $0.25–$0.30 over 3 months. In contrast to previous stimulus programs, we see little response of durables spending. Households with lower incomes, greater income declines, and less liquidity display stronger responses whereas households that expect employment losses and benefit cuts display weaker responses.

Student leadership experience and job accessibility: An experiment from China

Understanding the relationships between different signals that indicate the characteristics of workers and firms is essential to improving job matching efficiency. Using a field experiment, we investigate student leadership experience premiums and explore the relationships between signals reflecting personal qualities and signals reflecting vacancy-related qualities. We find that, first, there is no universal causal effect of student leadership experience on job accessibility in China. Second, student leadership experience complements other personal qualities for individuals majoring in science and engineering. Third, student leadership experience is a complementary factor for small firms. Fourth, higher-level student leaders enjoy a larger premium in job accessibility. Finally, student leaders are not preferred by high-paying positions but favored by positions with large payment variances.

The Importance of Traits of Board of Commissioners, company Size, Profitability and Free Cash Flow in Affecting the Dividend Policy

This study aims to investigate further relates to dividend policy that utilize in company which affected by characteristics of board of commissioners, business size, profitability as well as free cash flow. Secondary data has been used as source of information that obtained by the publication of financial reports that submitted by the Indonesia Stock Exchange (IDX). This study implemented the purposive sampling strategy to select 180 manufacturing companies which have been registered on the Indonesia Stock Exchange between 2018 and 2$020 as research samples. Normality test, heteroscedastic test, autocorrelation test, multicollinearity test, coefficient determination test, linear regression analysis and t-test, those are analysis methods used in this research. The t-test revealed that the characteristics of the commissioners has impact to the company’s dividend policy. While gender representative on the board of commissioners has negatively impacts on dividend policy, number of commissioners and free cash flow both positively affect the dividend policy. The policy relates to dividend distribution did not influence the proportion of independent commissioners, firm size or profitability. However, dividend policy has greatly affected by free cash flow. The research outcomes showed that the proportion of independent commissioners in a company usually lower than the total of commissioners owned by the company. Those Companies tends to allocate retained earnings to develop more profitable projects to get maximum profits. Companies that generate large inflows of free cash are more likely to make large dividend payments to reduce waste on unprofitable projects.

СУЧАСНІ СВІТОВІ ТРЕНДИ ЦИФРОВІЗАЦІЇ ІНДУСТРІЇ ФІНАНСОВИХ ПОСЛУГ У СФЕРІ СПОЖИВАННЯ

The article examines the digitalization trends of the financial services market in the field of personal consumption. Attention is paid to the spread of various financial services in the field of personal finance management and e-commerce. Examples of foreign financial institutions focused on servicing trade and investment personal financial transactions are given. The specificity of digital technologies makes financial services remote, but their availability is increasing. It is shown that users prefer those banks that provide the opportunity to remotely manage personal accounts and monitor their own financial situation using online platforms and mobile applications. Therefore, the number of digital financial services offered in the field of personal financial transactions becomes a factor in the modern competitiveness of a financial institution. The development of consumer finance (consumer finance) covering operations from investing in real estate to paying for college education is analyzed. Wellplanned consumer finance helps users securely purchase products and services by paying for them in installments over a fixed period of time. The peculiarities of the BNPL industry – "buy now, pay later" – which modernized deferred and installment payments, were studied. BNPL solutions are available in online stores and are immanent for e-commerce. Therefore, the growth of e-commerce sales by 44.4% in 2021 compared to the same year in 2020 stimulated the spread of BNPL's financial services. This increases the competition of firms in this segment of the financial services market. In order to strengthen their competitive positions, the companies offer a number of new approaches to the implementation of BNPL products and solutions. First, they are direct providers of new financial services that are at the heart of BNPL's US solution development. Second, there are facilitators, large payment companies with well-established commercial relationships that seek to capitalize on the growing interest in direct supplier solutions. Third, retroactive suppliers offering different financing options for all purchases made with their credit card after the fact of payment.

High-Powered RF SOI Switch With Fast Switching Time for TDD Mobile Applications

This paper presents a fast switching and high-powered single-pole double-throw (SPDT) switch for RF switch circuits, such as TRx antenna switches and frequency band (or operation mode) selection switches in mobile handset applications. For fast switching time and performances of the RF switch, we proposed a novel method that can “selectively” control the impedance of a gate biasing circuit (“high” or “low” impedance). The proposed SPDT switch use the low impedance of the gate biasing circuit for fast switching time and use the high impedance of the gate biasing circuit to avoid the degradation of the insertion loss and harmonics. The proposed SPDT switch has no additional bias and no large payment for size consumption. According to measurement results, the turn-on switching time of the proposed SPDT switch was <inline-formula xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink"> <tex-math notation="LaTeX">$0.35~\mu \text{s}$ </tex-math></inline-formula> (at 2 GHz). The insertion loss, isolation, and return loss at 2 GHz were 0.16 dB, 47.1 dB, and 24 dB respectively. 2nd and 3rd harmonic levels at 25 dBm input power at 2 GHz were −88.7 dBm and −78.9 dBm, respectively. Power handling capability was 39.5 dBm of input power at 2 GHz. The designed SPDT switch was implemented in a 0.13- <inline-formula xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink"> <tex-math notation="LaTeX">$\mu \text{m}$ </tex-math></inline-formula> partially depleted silicon-on-insulator (PD-SOI) process.