Payment Levels Research Articles

Sizing Up the Farm Bill Safety Net

Lower commodity prices and higher production costs over the past couple of years have crop producers concerned about tighter margins and cash flow for their operations. The federal farm income safety net provides substantial support to producers through commodity programs, crop insurance programs, and disaster assistance. Crop insurance has been the primary safety net tool for producers in recent years as commodity prices generally fluctuated at levels above commodity program support levels. Even declining markets in the past couple years left prices that remained above Price Loss Coverage (PLC) support levels and revenue calculations above Agriculture Risk Coverage (ARC) guarantees unless there were significant yield losses at the county level for ARC-CO or the individual farm level for ARC-IC. The outlook is changing however as declining prices run into support levels that are increasing based on the past few years of higher prices. The ARC program provides a revenue guarantee tied to 86% of a benchmark revenue calculated from a five-year moving average price and a five-year moving average trend-adjusted yield. The PLC program provides support if prices fall below the higher of a legislated reference price or 85% of a five-year moving average price. With the higher prices experienced during the past few years, the five-year moving average price has increased and both ARC and PLC support levels have gotten stronger. A look at ARC and PLC protection and payment levels provides a picture of what current support and cash flow may look like and what future support could be under current or future farm legislation.

Determining the leaders of Ukraine’s insurance market based on the adaptation of the DEA method

The escalating wartime risks in Ukraine has led to a rapid reduction in insurance coverage in life and non-life segments. The purpose of the study is to rank Ukraine’s insurance companies based on an adaptation of the DEA method to the insurance market conditions. The study utilized the Supervisory Statistics of the National Bank of Ukraine as data. The study also used ranking of insurance companies based on technical efficiency criteria. The output indicators include the profitability of total capital (Output1) and the occupied share of the insurance market (Output2). The input indicators comprise the volume of total assets of insurers (Input1), the share of equity capital in assets (Input2), the level of gross payments (Input3), and the level of payments to insurance reserves (Input4). The ranking of insurance companies is based on minimizing the distance of each from the bounds of technical efficiency by solving a set of optimization problems. Based on the modeling results, a list of market leaders (7 companies) was formed for the end of the third quarter of 2023. They served nearly 37% of the insurance market in Ukraine, accumulating 41.5% of the total assets of this financial market sector. So, the primary issue for insurance companies is the loss of solvency due to the absence of adequate levels of insurance reserves. Therefore, priority measures should include strengthening regulatory constraints in this financial market segment to facilitate its qualitative renewal.

Современная парадигма пенсионного обеспечения в Европе

Introduction. Pension systems are a key element of social protection for the elderly. They are designed to provide senior citizens with stable income not from work. However, pension systems currently being developed in Europe are increasingly exposing the working-age population to the risk of poverty in old age. The European pension paradigm strives for an adequate level of pension payments and builds financial protection against poverty, while the future evolution of wages and prices remains unknown for Europe as a whole.Methods. Scientific research is based on general and special methods of scientific cognition. In the process of forming the concept of the scientific article, modern scientific methods of studying economic and social phenomena were used, including methods of system-structural, functional, factorial and comparative analysis, as well as categorical, logical and structural analysis and synthesis, detailing and generalization, grouping and comparison, identification of cause-and-effect relationships. The authors proceed from an understanding of the scientific hypothesis of reforming the pension system, which ensures long-term investment by the working-age population with income in the future. The empirical base of the study was made up of current data from cross-country comparative studies of Europe in terms of typology of state pension systems.Results. Based on the functional method of cognition, the authors of the scientific article systematize the main types of state pension systems of the European Union, representing the complex content of the indicator value of pension payments. It is noted that in the context of reforming the pension systems of the European Union countries, the reorganization of the functional and ideological components of pension provision, aimed at protecting consumers of pension savings, makes it possible to increase the socio-economic standard of living. Although EU pension systems differ in many respects, they all have one common problem - finding ways to maintain the financial sustainability of the budgetary system while paying pensions in the long term against the backdrop of an aging population and the problem of increasing the ratio of pensioners to the working-age population.

An investigation of the association between parenting style and child’s dental caries: a cross-sectional study

To investigate the association between parenting style and child’s dental caries. Parents presenting with their children to the Department of Pediatric Dentistry at Tufts University School of Dental Medicine for an initial exam or re-care appointment completed a demographic survey and the parenting styles and dimensions questionnaire. Recruitment of subjects started in May 2019 and ended in February of 2020. Child’s decayed, missing, and filled teeth (dmft) index, diet score, sex, and age were recorded, as were parent’s race, education level, and form of payment. Adjustment for confounders was done using multivariable negative binomial regression. The sample size was 210 parent/child dyads. In the multivariable analysis, parenting style and child’s dmft were not significantly associated (p > 0.05). Parents with an education level less than high school (p = 0.02) and at the high school graduate level (p = 0.008) were significantly associated with children who had higher dmft, compared to parents with a college degree or higher. Children with excellent diet scores had significantly lower dmft than children with a diet score in the “needs improvement” category (p = 0.003). There was no significant evidence that parenting style is associated with child’s dental caries. Parent’s education level and child’s diet score were significantly associated with child’s dmft, less than high school (p = 0.02) and at the level of high school graduate (p = 0.008). Pediatric dental professionals should be aware of these risk indicators.

Probing the Role of Digital Payment Solutions in Gambling Behavior: Preliminary Results From an Exploratory Focus Group Session With Problem Gamblers.

Technology has significantly reshaped the landscape and accessibility of gambling, creating uncharted territory for researchers and policy makers involved in the responsible gambling (RG) agenda. Digital payment solutions (DPS) are the latest addition of technology-based services in gambling and are now prominently used for deposit and win withdrawal. The seamless collaboration between online gambling operators and DPS, however, has raised concerns regarding the potential role of DPS platforms in facilitating harmful behavior. Using a focus group session with problem gamblers, this study describes a preliminary investigation of the role of DPS in the online gambling context and its influence on players' gambling habits, financial behavior, choices of gambling environment, and the overall outcome of gambling subjective experiences. A total of 6 problem gamblers participated in a one-and-half-hour focus group session to discuss how DPSs are integrated into their everyday gambling habits, what motivates them to use DPS, and what shifts they observe in their gambling behavior. Thematic analysis was used to analyze the empirical evidence with a mix of inductive and deductive research approaches as a knowledge claim strategy. Our initial findings revealed that the influence of DPSs in online gambling is multifaced where, on the one hand, their ability to integrate with players' existing habits seamlessly underscores the facilitating role they play in potentially maximizing harm. On the other hand, we find preliminary evidence that DPSs can have a direct influence on gambling outcomes in both subtle and pervasive ways-nudging, institutionalizing, constraining, or triggering players' gambling activities. This study also highlights the increasingly interdisciplinary nature of online gambling, and it proposes a preliminary conceptual framework to illustrate the sociotechnical interplay between DPS and gambling habits that ultimately capture the outcome of gambling's subjective experience. Disguised as a passive payment enabler, the role of DPS has so far received scant attention; however, this exploratory qualitative study demonstrates that given the technological advantage and access to customer financial data, DPS can become a potent platform to enable and at times trigger harmful gambling. In addition, DPS's bird's-eye view of cross-operator gambling behavior can open up an opportunity for researchers and policy makers to explore harm reduction measures that can be implemented at the digital payment level for gambling customers. Finally, more interdisciplinary studies are needed to formulate the sociotechnical nature of online gambling and holistic harm minimization strategy.

CFO co-option and dividend payments: the moderating role of CFO talent

Purpose This study aims to investigate the association between the co-option of the chief financial officer (CFO) and dividend payments, assessing whether the talent of the CFO affects this association. Design/methodology/approach The empirical analyses were based on hand-collected data for 922 firm-year observations from 157 European listed firms, during the period 2013–2019. Empirical models, based on a two-step estimation procedure, involved the use of instrumental variables and the generalised moment method. Findings The results show that CFO co-option is negatively associated with the level of dividend payments. It was also found that the degree of CFO talent moderates the negative association between CFO co-option and dividend payments. Research limitations/implications This investigation responds to the call for literature which examines how chief executive officer (CEO) – CFO relationships influence firms’ policies and outcomes. The study offers novel evidence for the individual-level characteristics of CFOs which are likely to reduce the effectiveness of CEO power and increase monitoring on corporate decisions on dividends. Practical implications The study sheds light on the effect of the interactions between CEOs and CFOs, which are important for investors’ expectations. In this regard, investors may be interested in the CFO profiles which may reduce CEO power over dividend policies. Originality/value Unlike previous research, which focused on CEOs, the authors are the first to shed light on the role of CFOs as key decision makers in influencing the dividend policies in modern corporations.

Reduction potentials of chemical-synthetic pesticides – A case study using the example of an Eco-Scheme in southern Germany

Chemical-synthetic pesticides (CSPs) are associated with several negative environmental effects. The European Commission aims to reduce their use by 50% by 2030. This paper looks at the German Eco-Scheme, an agri-environmental payment scheme, for the foregoing of chemical-synthetic pesticides (CSPs) in arable crops for a one-year period. Using Baden-Württemberg in southern Germany as a case study, we investigated the suitability of the Eco-Scheme as a policy tool for CSP reduction. We used a field-based, georeferenced integrated land use model based on linear programming. Different payment levels for the Eco-Scheme were simulated. In addition, we analyzed the effect of labor availability, crop yield requirements, and market prices on Eco-Scheme implementation (uptake).The implementation potentials at €130/ha, the payment level in 2023, were limited and strongly dependent on market prices as well as potential food supply targets. The percentage decline in overall CSP use (measured in active substance mass) was even lower than the implementation in the percentage of acreage attributed to the Eco-Scheme. The implementation potentials were mainly observed on marginal sites. Higher simulated payment levels led to lower cost efficiency and dead weight losses. This trade-off between cost efficiency and effective reduction questions the suitability of the Eco-Scheme, at least for more substantial CSP reductions. To increase economic efficiency, we recommend differentiating payments based on abatement costs, for example on a crop-basis.

Analysis of Shopee Pay Digital Payment Adoption in Jakarta with Innovation Diffusion Theory

The increase in internet users has significantly impacted people's behaviour patterns in making payment transactions from offline to online. One of the dominating online or digital payment systems with a large number of e-wallet users and frequency is Shopee Pay. The dominance of this application, which quickly outperforms its competitors, is inseparable from its users' good acceptance of something new. Technological diffusion theory explained how an innovation is adopted over time by examining the decision to adopt the process. Therefore, this research aimed to determine the factors affecting Shopee Pay services adoption in Jakarta.Data were collected from 100 Shopee Pay users in Jakarta. The descriptive statistics and statistical data analysis using Smart PLS software were carried out for outer and inner model analysis and hypothesis testing. The results showed that Relative Advantage, Observability and Perceived Risk significantly affect adoption. In contrast, Compatibility, Complexity, and Trialability have an insignificant effect on adoption. Number of respondent, coverage area of the survey and period of research. Future research is expected to be able to use other models besides the Diffusion of Innovation Theory to better identify other additional factors capable of affecting the adoption of Shopee Pay digital payment services and Shopee Pay digital payment is recommended to offer services that are more compatible with various lifestyle needs and beliefs to meet the expectations of current users. This survey has difference with previous research because of adoption level of digital payment specifically focus on Shopee Pay then using Innovation Diffusion Theory as model of research.

TAX BURDEN: APPROACHES TO DETERMINATION AND THEIR INFORMATION SUPPORT

Analysis of tax burden is importantfor assessing the effectiveness of tax policy of the state, tax management of enterprises, is an indicator of the level of tax security of all economic entities and the indicator by which tax authorities carry out tax control of taxpayers. Tax burden scientists consider on the macro-(level of tax burden on the economy in general) and micro-level (the level of the load on the enterprise). At the macro level, it is advisable to determine the level of the total tax burden as the ratio of the amount of tax revenues to the consolidated budget of Ukraine and the revenues of the single social contribution to GDP, as well as the share of tax payments of the integrated budget in GDP, the proportion of social payments in GDP and the rate of growth of these indicators. Analysis of the level of tax burden in Ukraine showed that in 2022 in the conditions of Russia’s full-scale war, GDP at market prices decreased by 4.92%, and the amount of tax payments of the reduced budget increased by 9.89%. In 2020, due to the introduction of quarantine in order to prevent the spread of acute respiratory disease COVID-19 in Ukraine, the GDP growth rate was low (5,53%), and the rate of growth of tax payments was high (15,71%). At the enterprise level, the analysis can be carried out according to the indicators of the total tax burden, tax burdens on income, expenditure, on cash flows, as well as tax on all taxes paid and SSC separately. The source of information for determining the indicators is the Financial Results Report (the aggregate income report and the Cash Flow Report (by direct method). In the system of electronic administration of taxes and duties by the tax authorities, monitoring of indicators-criteria of high-risk tax burden is carried out, according to which the payers canbe included in the plan-chart of checks: the level of payment of income tax and VAT. If the indicators are below 50 and more percent of the level of payment of the relevant tax for the industry, the enterprise falls into the plan-chart of inspections. Theinformation source for determining the level of payment of taxes is the Income Tax Declaration and the VAT tax declaration. Indicators of the level of tax payments by industries are published on the website of the State Tax Service of Ukraine. Also, the tax service determines indicators-indicators of unconditional registration of taxpayers, among which is the indicator of tax burden D, which is automatically formed in the Monitoring System of risk assessment criteria (MSRAC) of the Electronic Cabinet of Taxpayers or can be calculated from the data of the turnover and balance of enterprises. Monitoring of indicators of tax burden on the part of tax authorities is of paramount importance for monitoring compliance of taxpayers with tax legislation and implementation of the tax policy of the state to fill the budget with tax revenues.In the tax management of enterprises, the analysis of tax burden indicators is intended to find out the degree of their compliance with the established limits, industry indicators in order to take timely optimization decisions and avoid checks, penalties and the need to pass the procedure of unlocking tax charges.

Statistical uncertainty and coarse contracts

This paper studies a robust contracting problem with a standard principal and a strictly risk-averse agent who is (i) uncertain about the production technology and (ii) ambiguity-averse in the sense of the Bewley (1986) incomplete preferences criterion. When the agent's uncertainty is sufficiently limited, the optimal contract is fully contingent on the state of the world, as in the classical problem. Conversely, when that uncertainty is sufficiently extensive, the optimal contract is (generically) a binary contract with only two distinct payment levels. In intermediate cases, the optimal contract becomes progressively more detailed as the agent becomes increasingly certain about the technology. We provide a statistical interpretation of our model under which the principal's beliefs and the agent's belief sets are as if they were derived from the public observation of i.i.d. output data.

Військові виплати: поняття та адміністративна проблематика воєнного часу

This article examines the system of military benefits in Ukraine, focusing on their structure, scope, and impact on military personnel and their families. In particular, the different types of military payments, such as salaries, allowances for special conditions of service, disability compensation and pensions, are examined. Changes in legislation on military benefits and their compliance with international standards are also analyzed. It emphasizes the importance of adequate financial support for the military to maintain their combat readiness and morale. A detailed analysis reveals what factors influence the level of military payments, including budgetary constraints, the economic situation in the country, and the army’s need for modern weapons and equipment. The article also examines the effectiveness of the system of payments in providing social protection to military personnel and their families, as well as the possibility of ensuring an adequate standard of living after retirement. Finally, the article concludes with a discussion of what improvements can be made to the military pay system to make military careers more attractive and ensure stability in the military. The article also analyzes the role of military payments in maintaining military discipline and motivation of personnel. In particular, the article discusses the timeliness and regularity of payments, their correspondence to the actual living expenses of the military, as well as the possibility of receiving additional incentives for length of service, military ranks or special tasks. Finally, the article highlights the prospects for further development of the military pay system in Ukraine and the importance of improving this system in order to ensure national security and defense capability. The article also addresses the urgent problem of social security for military personnel in the context of armed conflict. The author analyzes the current state of payments to military personnel, including salaries, additional remuneration and compensation. The main focus is on legislative changes that have taken place in recent years and their impact on the welfare of the military. Particular attention is paid to the analysis of recent legislative initiatives aimed at improving the social protection of military personnel. The provisions of the new laws and regulations governing payments, as well as their effectiveness and impact on the motivation of the military are examined in detail. The article also analyzes the problems of implementing these laws in practice, including bureaucratic obstacles and insufficient funding. The article concludes that the military pay system needs to be further improved, emphasizing the importance of timely and fair financial support for military personnel as one of the key factors in maintaining the army’s combat capability and morale. The author offers recommendations on possible areas for reforming the payment system, including the introduction of new mechanisms for controlling and ensuring transparency of financial flows. The article is important for researchers in the field of social policy, military experts, and those involved in the process of formulating and implementing state policy in the field of defense. It contributes to a deeper understanding of the problems and prospects for the development of the social security system for military personnel in Ukraine, which is an important aspect of ensuring national security and stability of the state.

Factors Affecting Cattle Insurance Purchase and its Effects on the Financial Situation of Dairy Farmers

The results of the study indicated that the age of the respondents, the type of animals reared, herd size, and membership in dairy cooperatives and districts significantly influenced the adoption of cattle insurance. The education of the respondent, herd size, the type of animal holding, and membership in dairy cooperatives significantly influenced the willingness to pay for cattle insurance. Willingness to pay was found to be less than the actual payment for the cattle insurance premium, and it was more in the case of crossbreds than other categories of animals. The type of animal and membership in dairy cooperatives had a positive and significant influence on the actual level of payment for cattle insurance. The landholding size, animal herd size, and non-farm occupation, along with dairying, had a positive influence, and the loss of animals had a negative impact on the net- income of the farmers. Finally, it can be concluded that cattle insurance is one of the best risk mitigation strategies to help farmers stabilize their income under risks and uncertain situations.

Analysis on the Unemployment Prevention Function of Unemployment Insurance in China

After years of active exploration, the unemployment prevention function of unemployment insurance in China has expanded into rich and diverse forms and carried out profound practice. Using the literature research method, by sorting out the relevant documents of unemployment insurance and the published data, this paper found that the challenges facing the prevention function of unemployment insurance in China are as follows: the low level of coordination is not conducive to regulation; the payment rate is fixed; the dynamic monitoring system of unemployment is not perfect; and the payment level of unemployment insurance fund is low. In response to these challenges, China should establish the provincial pooling of unemployment insurance as soon as possible, implement the floating rate system of unemployment insurance payment; improve the dynamic monitoring system of unemployment; and reasonably increase the expenditure scope and intensity of unemployment insurance fund for unemployment prevention. The research of this paper can provide reference for perfecting China's unemployment insurance system and perfecting the unemployment insurance system.

Revealing urban residents’ intention to pay for the greening of farmland in the urban fringe by extending the theory of planned behavior: Insights from payment for ecosystem services

The greening of farmland in the urban fringe improves the resilience of urban ecosystem and brings more abundant ecosystem services to urban residents. From the perspective of payment for ecosystem services, this study explored urban residents’ intention to pay for the improved ecosystem by extending the theory of planned behavior. The main findings are as follows. First, 76% of urban residents had a relatively strong payment intention. Second, moral obligation was the foremost factor that affects intention, which highlights the importance of individuals’ intrinsic sense of responsibility and social altruism to mould “greening action”. Third, the positive effect of behavioral attitude was subsequently highlighted, therefore, the government should shape decision-makers’ positive attitudes by propagandizing the value of green farmland. Fourth, both ecosystem service perception and nature affinity had a significant and positive impact on payment intention, and further, ecosystem service perception mediated the impact of nature affinity on intention. This observation provides policymakers with enlightenment that measures to enhance urban residents’ nature affinity, are also effective in improving ecosystem service perception. Moreover, the average payment level of urban residents was 174.7CNY per year. If payment intention can be catalyzed into actual payment behavior, it expected to greatly contribute to the financing of greening action. These results can help policymakers better understand the sustainable path of farmland greening from the perspective of payment for ecosystem services.

Long-term care needs and hospitalization costs with long-term care insurance: a mixed-sectional study.

With the rapid aging of the population, the health needs of the older adult have increased significantly, resulting in the frequent occurrence of the "social hospitalization" problem, which has led to a rapid increase in hospitalization costs. This study investigates whether the "social hospitalization problem" arising from the long-term care needs can be solved through the implementation of long-term care insurance, thereby improving the overall health of the older adults and controlling the unreasonable increase in hospitalization costs. The entropy theory was used as a conceptual model, based on data from the China Health and Retirement Longitudinal Study (CHARLS) in 2015 and 2018. The least-squares method was used to examine the relationship between long-term care needs and hospitalization costs, and the role that long-term care insurance implementation plays in its path of influence. The results of this study indicated that long-term care needs would increase hospitalization cost, which remained stable after a series of tests, such as replacing the core explanatory variables and introducing fixed effects. Through the intermediary effect test and mediated adjustment effect test, we found the action path of long-term care needs on hospitalization costs. Long-term care needs increases hospitalization costs through more hospitalizations. Long-term care insurance reduces hospitalization costs. Its specific action path makes long-term care insurance reduce hospitalization costs through a negative adjustment of the number of hospitalizations. To achieve fair and sustainable development of long-term care insurance, the following points should be achieved: First, long-term care insurance should consider the prevention in advance and expand the scope of participation and coverage; Second, long-term care insurance should consider the control in the event and set moderate levels of treatment payments; Third, long-term care insurance should consider post-supervision and explore appropriate payment methods.

FORMATION OF THE INCOME PART OF THE STATE BUDGET OF UKRAINE UNDER THE CONDITIONS OF THE MARITAL STATE

The article describes the peculiarities of the implementation of the state budget on revenues during the period of martial law. The problems caused by russia's armed aggression in relation to Ukraine’s budget policy are outlined. It has been found that in fact, the need for financial assistance is provoked by the growth of the military expenses, since the revenue part of the budget is approximately the same as the expenses for the Ministry of Defense alone. The structure of losses in the economy and trends in GDP changes are analyzed. It is noted that in the general the picture of the economy of our country, state expenditures occupy an increasingly large volume. As in the previous year, the largest item of budget expenditures in 2023 is security and defense; at the same time, expenditures directed at it compared to the pre-war period have increased almost tenfold. The structure of the economy for 2022-2023 has undergone significant changes, the share of industries with a high tax rate has decreased, which negatively affects the level of tax payments from the economy. It was revealed that in 2023, as a result of the policy of the National Bank of Ukraine (hereinafter – NBU), aimed at maintaining a relatively high discount rate, the profits of the banking system exceeded pre-war indicators several times, which allowed it to obtain a significant positive financial result. It was noted that a significant part of the state budget revenues was earned by the fuel and energy sector, which, despite the war, continues to be a successful component of Ukraine's economy. When forecasting the revenues of the state budget, one should take into account the high degree of uncertainty and unpredictability, which affects the high probability of deviation of the actual figures of the estimate from the planned ones. The main key risks can be called the continuation of the war and the uncertainty regarding the further ways of its development, non-return of refugees from abroad, insufficiently fast implementation of the reforms; lack of assistance from international organizations and governments. The latter is not a convention, but a fact, because the key source of income in 2024 will be external borrowing, since the country's own resources (tax and non-tax revenues, transfers) should be enough to finance only half of the expenses. In fact, the need for financial assistance is provoked by the growth of military expenses, and the budget is written in the form of loans.

The mechanism of the social state and the place of the pension system in it: theoretical and legal aspects

The article is devoted to the theoretical and legal study of the role and place of the pension system in the mechanism of the social state on the example of the modern Ukrainian legal experience. Based on the analysis of legislation, doctrinal positions and practice of the Constitutional Court of Ukraine, the author has formulated the own vision of the substantive and ontological core of pension provision. It is demonstrated that pension provision as a set of legal relations and a real legal phenomenon in the substantive and ontological dimension cannot be identified either with the process of providing an individual with a set of certain social and material services (procedural approach), or with a set of measures taken by the State to meet the needs of an individual for adequate material security upon reaching retirement age or due to adverse social circumstances which exclude their opportunities for active participation in economic and social life. According to the human-centred paradigm, the substantive and ontological essence of pension provision is not only the right (legal possibility) to demand from the state a certain level of pension payments in accordance with certain objective criteria, but also the real possibility to receive such payments in the amount that allows a person to maintain a decent existence, to ensure their key needs in life and social environment, avoiding poverty and social isolation.
 The importance of the State’s guarantee of the right to pension as a component of the constitutional right to social protection is substantiated. It has been revealed that the social state implements such a social policy which guarantees not only pension payments, but also their amount, frequency of receipt and indexation in accordance with the established procedure, which ensure that every person entitled to a pension has an adequate standard of living, the stability of the established standards of pension provision, the guarantee of this provision, the predictability of the legislative policy of pension provision (in accordance with the concept of legitimate expectations), and the appropriate law enforcement policy of pension provision. It has been proved that in the context of the social state concept, the problem of legislative fixation of the optimal model of pension provision (which would take into account the issues of determining the amount of pension provision, their ranking in various, including special, laws, methods and pace of pension indexation, etc.), taking into account the economic situation of the State and the compliance of such provision with the task of realisation of basic human needs for decent living conditions, requires careful consideration (in accordance with the concept of “space for consideration”). The article emphasises that compliance with the constitutional principles of the social state requires legislative regulation of pension provision on the basis of equity and proportionality, taking into account the State’s obligation to ensure decent living conditions for every citizen of Ukraine.

Urban-rural income gap and urban crime rate

This article takes various prefecture-level cities in China as the research subject and empirically tests the relationship between the urban-rural income gap and the urban crime rate in Chinese urban areas. The research results show that the greater the urban-rural income gap, the more likely it is to lead to an increase in the urban crime rate. Further heterogeneity analysis results show that the impact of the urban-rural income gap on the urban crime rate is more evident in areas with low levels of marketization and low levels of government special transfer payments.

Analysis of the factors influencing willingness to pay and payout level for watershed eco-compensation of the Huangbai river basin

ABSTRACT Watershed Ecological Compensation (WEC), an essential institutional framework, is for watershed ecological protection and management in China. The governments play a leading role but watershed residents who are the direct stakeholders are not given enough attention in the legislation and practice of WEC in most river basins. Thereupon, it is necessary to study the resident's willingness to pay (WTP) and willingness to accept (WTA). Based on the field survey data of the Huangbai River Basin, the contingent valuation method, the Probit and Tobit models were used to explore the WTP and its influencing factors of residents in the basin. Additionally, parametric estimation methods were employed to estimate the payout level and willingness to accept (WTA) of residents in watersheds. Results show that 88.84% of the respondents intended to pay for WEC with an average price of 142.24 CNY per year. The crucial factors influencing WTP were environmental awareness, ecological compensation cognition and political outlook. In addition, attention to ecology and satisfaction with water quality are significantly related to their payment levels. Accordingly, the policy makers should balance WTP and basin economic level and explore the implementation of a comprehensive ecological compensation strategy.

Venture Capital and Dividend Policy

In this paper, we empirically examine the impact of venture capital investment on the dividend policy of the invested companies using a sample of list companies from China’s ChiNext market during the period 2014 to 2019. Our empirical results show that different types of VC investments have different impacts on the dividend policies of the invested companies. To be specific, we found independent venture capital companies (IVCs) promote the company’s dividend payment and increase the level of dividend payments while corporate venture capital (CVC) inhibits the company’s dividend payment. The joint participation of multiple types of venture capital investment (syndication) also increases the company’s dividend distribution. Our main contributions are two-fold. First, we provide a comprehensive analysis in the field of VC and dividend policy; second, we differentiate VC from the perspective of investment objectives and examine its different impacts on the dividend policies of the invested companies.