Cash Paid Research Articles

Intimate Partner Violence and Women's Participation in the Labour Market in Cameroon: An Analysis from Demographic and Health Survey of 2018

Intimate Partner Violence (IPV) is a major public health and employment outcomes concern around the world. The relationship between IPV and economic participation is fundamental to understand barriers to women's empowerment and achieving gender equality and the economic independence from employment income could reduce the risk of conjugal violence by predicting family bargaining theories. Therefore, this paper aims to analyze the association between Intimate partner violence on the participation of women in the labour market and their access to employment in the form of being a wage worker, self-employed or unpaid family worker and using data from the Demographic and Health Data Survey carry out in 2018. Intimate partner violence is apprehended from its three dimensions (physical, emotional and sexual violence) Empirically, IPV is apprehended from its three dimensions (physical, emotional and sexual violence) and the instrumental variables method was used The estimated results of the iv probit regression model suggest that, IPV has a positive effect on women's possession of and access to paid employment, it is statistically significant after controlling for simultaneous causality between employment status and IPV. On the other hand, women participating in the labor market are exposed to IPV of 313.7 ‰, 11.0% of women's possession of a job paid in cash or in kind and 40% of working for a family member which confirms the family negotiation model. Physical violence from an intimate partner is the most widespread, around 56% for women who declared participating in the labor market and having paid employment and 61.67% of those working with a family member. The results presented reflect important information in a way that IPVs do not affect women's employment. Several motivations justify men's recourse to violence and the mechanisms involved can act either individually or simultaneously. One preventable condition is the reduction in time combined with violent confluence which can doubly reduce violence and give rise to financial autonomy.

Exploring modern bank penetration: Evidence from early twentieth‐century Netherlands

AbstractWe analyse the estate composition of the richest 30 per cent of people who died in the Netherlands in 1921 to find that households used a broad range of institutions to meet their financial demands. Goods and services were either paid in cash or settled periodically with suppliers. Despite the strong growth of commercial banking in the previous decades, households still made extensive use of peer‐to‐peer loans, with or without the added security of notarial contracts. Banks only possessed a competitive edge in savings accounts for small surpluses and current accounts, the latter used most frequently by business owners born after 1870. Distance to the nearest bank office did not matter for these people, but wealthy urbanites were more inclined to use banks than their counterparts in the countryside.

Pengaruh Fixed Asset Intensity, Karakter Eksekutif, dan Leverage terhadap Penghindaran Pajak

This study aims to examine whether the intensity of fixed asset, executive character, and leverage have an effect on tax avoidance. Tax avoidance is an activity to avoid paying taxes legally in accordance with the provisions of the legislation carried out by the company in order to be able to pay the minimum tax possible to the state treasury. Population in this study were manufacture companies listed in Indonesia Stock Exchange (IDX) during the period 2017 to 2020. The sampling technique used purposive sampling and obtained 54 companies, so that the total sample obtained for 4 years was 216 research samples. This study used quantitative method and the analysis by data panel regression. Tax avoidance proxy by cash effective tax rate (CETR) which is cash paid in cash for pay taxes. Partially shows that the intensity of fixed assets has no effect on tax avoidance, executive character has a significant positive effect on tax avoidance, and leverage has no effect on tax avoidance. While the results of this study indicate that the intensity of fixed assets, executive character, and leverage simultaneously have a significant effect on tax avoidance with the value of Prob (F-statistic) 0.000000. Result of Adjusted R-square shows of fixed Asset intensity, executive character, and leverage have a significant effect on tax avoidance is 0.3343 or 33.43%.

CASH CONVERSION CYCLE SENSITIVITY BY MODERATING ROLE OF EXCHANGE RATES VOLATILITY ON FIRM’S FINANCIAL PERFORMANCE

The cycle of cash conversion relates to the time spread between the value of cash paid for purchases and the cash receipt from turnover. Using the State Bank of Pakistan data, this study introduces the direct and moderating role of the exchange rate, effective through the efficient execution of the cash conversion cycle between Pakistani 302 manufacturing companies from 1999–2015. Using the fixed effect as the static panel model and system GMM as a dynamic panel, it is observed that the exchange rate plays an authoritative moderating role between the cash conversion cycle and the financial performance. Results of the investigation have shown that in static panel analysis with the cash conversion period, the exchange rate has a positive and substantial moderating effect on return on assets and return on equity whereas that ER has a major negative impact on return on assets and return on equity using dynamic panel data analysis GMM. The issue of endogeneity in the static panel is addressed using the advanced approach of the standard error of the panel correction standard error method that changed the position of the significance of the moderator variable. Observers, therefore, intend to evaluate the fluctuations in the exchange rate as one of the variables of the financial output moderator in the context of current metrics such as asset’s returns, equity’s returns and gain more practical expression within their investigated results.

Cash-Management in Times of Covid-19

Abstract The incidence of COVID-19 has systematically decreased households’ use of cash as means of payment as well as the average size and frequency of cash withdrawals. We argue that the structure of Baumol–Tobin type inventory theoretical models and their extensions can be used to separate the confounding factors, such as the desired level of consumption and the choice of the fraction of consumption paid in cash, from the cash management behavior, i.e. the size and frequency of cash withdrawals. Using this insight we argue that the observed cash management is consistent with COVID-19 increasing the fixed cost of withdrawing cash. We use detailed data on ATM cash disbursements in Argentina, Chile, and the US to estimate how much the pandemic has changed the transaction cost of using cash. This estimation shows that if the intensity of the virus doubles in a county, cash transaction cost increases by approximately 2%. The results from Argentina, Chile, and the US are remarkably similar and robust to several forms of measurement error and endogeneity.

Social Media’s Impact on the Global Mergers and Acquisitions Market

This study analyses the impact of social media popularity on the global mergers and acquisitions (M&A) market using a sample of 66,905 M&A transactions across 50 countries for the sample period from 2011 to 2017. Social media influence on M&A transactions is tested using competing bids and proportion of cash paid in the transaction deal characteristics. We find that social media popularity has increased the probability of competing bids by 7.7% across countries and the proportion of cash paid in transactions decreased by 2.5% across countries. The results of additional analyses using the introduction of the internet are consistent with the conclusion that technologies that enhance the transmission of public information have an effect on the M&A variables tested. We test the robustness of our results using subsample analysis and placebo tests. This study is distinct from existing literature due to its globally diverse M&A dataset, unique social media and internet data, and cross-country approach to social media’s influence on financial markets.

Cash-Management in Times of COVID-19

The incidence of COVID-19 has systematically decreased households’ use of cash as means of payment as well as the average size and frequency of cash withdrawals. We argue that the structure of Baumol-Tobin type inventory theoretical models and their extensions can be used to separate the confounding factors, such as the desired level of consumption and the choice of the fraction of consumption paid in cash, from the cash management behavior, i.e the size and frequency of cash withdrawals. Using this insight we argue that the observed cash management is consistent with COVID-19 increasing the fixed cost of withdrawing cash. We use detailed data on ATM cash disbursements in Argentina, Chile, and the US to estimate how much the pandemic has changed the transaction cost of using cash. This estimation shows that if the intensity of the virus doubles in a county, cash transaction cost increases by approximately 2%. The results from Argentina, Chile, and the US are remarkably similar and robust to several forms of measurement error and endogeneity.

Good for career-bad for science: Advice, how to optimize your career.

The number of scientists and correspondingly the flood of publications explode. “Between 2008 and 2014, the number of scientific articles catalogued in the Science Citation Index of Thomson Reuters’ Web of Science grew by 23%, from 1.029,471 to 1.270,425. There were 7.8 million full-time equivalent researchers in 2013, representing growth of 21% since 2007” (UNESCO science report: towards2030,2015,http://uis.unesco.org/sites/default/ files/documents/unesco-science-report-towards- 2030-ex-sum-en.pdf). This has consequences to the rules of science production in the science factories. Publications are products that need marketing and the cash paid is a long list of publications and citations in journals of high impact factors that foster the career of authors. I have observed this during the last ten years and found that the following rules should be observed to support a successful career. All of the rules that I give below rest on true examples. The reader may judge whether these rules support the quality of science. My personal opinion is, they do not. Discussion in the community is urgently needed, but it will need a display of courage.

Stock Market Reactions to Financing and Payment Decisions for European Mergers and Acquisitions

Aim: We analyze stock market reactions to merger and acquisition announcements for firms in Europe and contribute to the literature by providing empirical evidence how the decisions with respect to alternative financing sources (equity or debt) and the methods of payment (cash or stock) affect the magnitude of the valuation effects.
 
 Research design: An event study methodology is applied to 717 M&A transactions. We analyze the size of the cumulative abnormal returns using the financing sources and payment methods and other variables as the relevant determinants.
 
 Findings: The cumulative abnormal results suggest that target shareholders and bidder shareholders in private deals benefit from mergers and acquisitions. The effect found is centered around the announcement date, making our findings consistent with market efficiency. Debt financed deals outperform equity financed deals and cash paid M&A outperform stock paid M&As, due to information asymmetry, signaling and agency effects.
 
 Originality: This study adds to our understanding of the relevance of the financing sources and the payment methods for mergers and acquisitions in Europe.
 
 Implications: This study may help practitioners to better assess the valuation effects of alternative financing sources and payment methods when acquiring other firms.
 
 
 JEL: G32, G34

Modern Us Workers’ Compensation and Work-Related Injury: No Evidence of Moral Hazard

We exploit recent decades of US state-level reforms to the generosity of workers’ compensation programs to estimate the associated moral hazard, utilizing an event- study design and analyzing 9 separate reform categories. The reforms vary - some affecting benefit size, some the probability of receiving benefits; some paid in cash, some in-kind; some constituting increases, some decreases, in generosity. Across the board, we find no evidence of resulting changes in workplace injuries, and, generally, can rule out even moderate moral hazard responses for severe and less severe injuries, suggesting a key moral hazard cost of workers’ compensation benefits is negligible.

The "Sucker List" and the Evolution of American Business Fraud

The "Sucker List" and the Evolution of American Business Fraud Edward J. Balleisen (bio) in the early 1950S, mickey mantle burst onto the american sporting scene as a power-hitting outfielder for the New York Yankees. After a bumpy first year in the majors in 1951, this young man from rural Oklahoma soon became a star, attracting close attention from fans, the press, and promoters of all kinds. As a 1957 article in the Saturday Evening Post recounted, Mantle proved especially willing to listen to the pitchmen who promised to multiply his new sources of income. Within a mere week of arriving in New York City, he had signed a contract with a predatory agent who generously promised to secure all manner of endorsement and business deals, modestly reserving a full 50 percent of Mantle's earnings. Over the next few years, the Yankee phenom periodically took flyers on a series of ill-advised investments, including $3500 ($1000 paid in cash, the rest through a promissory note) for shares in a fake Oklahoma insurance company, hawked by a notorious sharper "who had served three prison terms and had an 'FBI file an inch thick.'" Mantle's remarkable lack of financial acumen meant that he "led the sucker list." And yet, the Saturday Evening Post profile also noted that Mantle learned from his mistakes rather quickly. By 1957, he had employed a reputable agent who identified excellent endorsement opportunities, which dramatically increased his income (Povich 1957, 19–20). This vignette incorporates several key features of the broader history of deception and misrepresentation in American marketplaces. [End Page 699] In the young Mantle, one can see several stock figures: the country bumpkin, the callow youth, and the credulous celebrity, but also the savvy pupil who became "more wise" through instruction in the school of wily charades. In the brief depiction of those who eagerly sized up Mantle and took advantage of him, one gets a sense of the omnipresent American snake-oil salesmen who have found fertile ground in a society that has often celebrated entrepreneurial innovation and aggressive marketing. That same discussion hints at the steady growth of antifraud institutions that took aim at duplicitous economic actors, shared intelligence about them across government agencies and jurisdictions, and at least sometimes curtailed their capacity to operate. Taken as a whole, the Saturday Evening Post article contributed to a longstanding public discourse about all the lies lurking throughout American commerce, a dialogue that sought to caution consumers and investors but simultaneously offered pointers to those who would deceive. A SONG OF SAFETY My morning mail is a penance to me. Long, fat envelopes meet my eyes, Filled with advice that is proffered free, Telling of many a wondrous prize. Old hooks baited with new disguise, Bundles of bunkum, a daily grist, New revamping of same old lies—PLEASE take my name off the Sucker List! Hawkers from Maine to the western sea, Selling unsalable merchandise. Proffer me many a golden key—Me, who've been bitten in too many buys. Towers with no roof but the bright blue skies, You and my earnings good-by I've kissed! I have sought plums in poor fruitless pies—Please take MY name off the Sucker List! Booms in oil? (bring my snickersnee!) Rising industrials? Let 'em rise! All my visions of Araby Are gone where the last year's bird's nest lies. I'm a year older—I hope more wise! Dreams of Golconda? I can resist. Buy for a fall? Then watch things rise! Please take my name OFF the sucker list! ENVOI Prints and pamphlets, circulars free, That paper the nation so lavishly. Let me alone. You'll never be missed! PLEASE TAKE MY NAME OFF THE SUCKER LIST! —Anonymous, Logansport Pharos-Tribune, Jan. 13,1926 The Mantle profile also referenced, without comment, a specific tool of duplicitous marketing: the "sucker list." Rosters of easy marks, compiled by and circulated among the purveyors of consumer fraud and [End Page 700] get-rich-quick schemes, have been around for at least a century and a half, and have become a mainstay of commercial duplicity in the United States. The emergence and evolution of...

The Calculation of the Remaining Results of Operations of Statements Financial and Cooperative Performance on KSP Usaha Jakarta Branch Office

KSP Usaha Mandiri is a cooperative engaged in lending service. The purpose of this research is to know the results of the remaining results in the division of and the performance of KSP Usaha Mandiri, Jakarta Branch Office. Of the remaining result is an income earned on cooperative. The results are derived based on revenue total minus costs total and liabilities within one year of the book concerned. Data collection methods in the preparation of the final project is a method of observation, interviews, and methods library study where the method of discussion used is qualitative descriptive, the method of data without using statistical method. In the division of the remaining results there are principles of division of the remaining results of sourced from members, the remaining results are services from capital and transactions own members, the division of the remaining results operations carried out transparently, the remaining results of the proceeds paid in cash. The role of the remaining results in the statements financial is very important to know the calculation in the division of the remaining results to members. In the period 2014-2016 there has been an increase of the remaining results obtained by KSP Usaha Mandiri. There are several factors that can influence the increase of the remaining results in the cooperative in the capital which consist of principal savings and mandatory savings and participation of members.

Mergers and acquisitions valuation: the choice of cash as payment method

This paper studies the relevance of the acquiring ownership structure and its legal and institutional environment on the decision to pay for a merger and acquisition (M&A) with cash and how this decision influences the acquiring shareholders’ M&A valuation. At the same time, we deal with the potential endogeneity problem. The results show that the acquiring ownership structure and the legal and institutional environment influence both the choice of cash as the payment method and the acquiring shareholders’ valuation, being the payment method an endogenous decision. High levels of ownership concentration in the acquiring firm or in countries with strong legal and institutional environments reduce the probability of cash paid M&As and provoke higher acquiring shareholders valuation around the announcement of an M&A paid in cash.

Eighty Percent of All Shrunken Heads are Fakes

Shrunken heads, I hate you. Traders who traffic in heads, I hate you. Ditto museums and private collections, ditto Meg Simpkins who wrote the article, ditto my greedy eyes devouring the page. For drama I flash five fingers five times—universal hand talk for twenty-five dollars, the going price in 1930. Back then you paid in cash or traded a gun. On page three, I learn that even shrunken heads have an order. One, remove skull and jaw aspect. Two, boil skin in tannic acid aspect. Three, re-shape over a steel ball, smudge with ashes for color, and place a seed under each eye. This is a combined aspect. There are other aspects, like sew the eyes shut, then the mouth, so that you can be 79% safe from unleashed spirits of the dead.

Using propensity score matching to estimate an "unbiased effect-size" between women's employment and partner violence in Tanzania.

Estimates of the effect of employment on women's risk of partner violence in cross-sectional studies are subject to potential "self-selection bias." Women's personal choice of whether to pursue employment or not may create fundamental differences between the group of women who are employed and those who are not employed that standard regression methods cannot account for even after adjusting for confounding. The aim of this study is to demonstrate the utility of propensity score matching (PSM), a technique used widely in econometrics, to address this bias in cross-sectional studies. We use PSM to estimate an unbiased effect-size of women's employment on their risk of experiencing partner violence in urban and rural Tanzania using data from the 2010 Tanzania Demographic and Health Survey (DHS). Three different measures of women's employment were analyzed: whether they had engaged in any productive work outside of the home in the past year, whether they received payment in cash for this productive work, and whether their employment was stable. Women who worked outside of the home were significantly different from those who did not. In both urban and rural Tanzania, women's risk of violence appears higher among women who worked in the past year than among those who did not, even after using PSM to account for underlying differences in these two groups of women. Being paid in cash reversed this effect in rural areas whereas stability of employment reduced this risk in urban centers. The estimated size of effect varied by type of matching estimator, but the direction of the association remained largely consistent. This study's findings suggest substantial self-selection into employment. PSM methods, by compensating for this bias, appear to be a useful tool for estimating the relationship between women's employment and partner violence in cross-sectional studies.

A General Model for Cost Estimation in an Exchange

Current Generally Accepted Accounting Principles (GAAP) state that the cost of an asset acquired for cash is the fair value (FV) of the amount surrendered, and that of an asset acquired in a non-monetary exchange is the FV of the asset surrendered or, if it is more “clearly evident,” the FV of the acquired asset. The measurement method prescribed for a non-monetary exchange ignores valuable information about the “less clearly evident” asset. Thus, we suggest that the FV in any exchange be measured by the weighted average of the exchanged assets’ FV estimations, where the weights are the inverse of the variances’ estimations. This alternative valuation process accounts for the uncertainty involved in estimating the FV of each of the asset in the exchange. The proposed method suits all types of exchanges: monetary and non-monetary. In a monetary transaction, the weighted average equals the cash paid because the variance of its FV is nil.

Mergers and Acquisitions Valuation: Cash vs Stock Payment

The aim of this paper is to study the influence of the Merger and Acquisition (M&A) payment method decision on the acquiring shareholders’ M&A valuation, considering the relevance of the acquiring ownership structure and the legal and institutional environment, and the possibility that the payment method decision may be endogenous. The results show that the ownership structure and the legal and institutional environment influence both the choice of payment method and the acquiring shareholders’ valuation. High levels of ownership concentration in the acquiring firm or in countries with strong legal and institutional environments reduce the probability of cash paid M&As. Acquiring shareholders value cash paid M&As more in firms with high levels of ownership concentration because of higher managerial control. Also, it is higher in countries with a strong legal and institutional environment, where lower agency costs are expected, and cash payment is not associated with avoiding ownership dilution.

Comparative Prediction Relative to Reporting of Operating Cash Flows for Tehran Stock Exchange- Listed Companies

This study examines the information content of alternative approaches to presenting cash flow from operations (CFO) data. The predictive ability of derived historical data reflecting the direct method compared with archived indirect method-based data, and, cash receipts and payments data in comparison with net amounts are evaluated with respect to future cash flows. In order to test the research questions, multivariate regression analyses are used, focusing on a sample of 65 firms listed on the Tehran Stock Exchange (TSE) between 2001 and 2007. For the purpose of comparing the predictive ability of presented data, modified R2 and Mean Absolute Percentage Error (MAPE) are utilized. The results fail to reveal any advantage for direct versus indirect-method data. This may be due to problem of articulation of the balance sheet and income statement producing nontrivial errors in the estimation of direct method-cash flows, i.e. cash received from customers, and cash paid to employees and suppliers. However, the findings do suggest the superiority of disaggregated over net cash flows in predicting CFO. The results imply that in developed or developing countries where cash flow data are reported under the indirect method, by expressing a strong preference for direct, disaggregated CFO reporting, coupled with appropriate incentives, regulators could increase the quality of financial reporting.

(The Executive Compensation System in Financial Corporations)

Korean Abstract: 본 연구의 목적은 금융기업 경영진의 보수체계의 현실과 문제점을 살펴보고 그에 대한 원인분석과 효과적인 해결책 제시에 있다. 글로벌 금융위기가 장기화되고 있는 오늘날의 상황에서, 사실상 사명감과 책임의식을 가지고 위기극복에 앞장서야 할 국내외의 금융기업 경영자들은 여전히 단기성과 위주의 보너스 및 성과급을 과다 지급하는 등 비도덕적 관행을 고수하고 있다. 본 연구에서는 이러한 금융기관의 경영부실화 사태 및 경영자들의 도덕적 해이의 업무행태의 원인에 대하여 크게 네 가지 사항을 제시하고, 현재의 미흡하고 불완전한 현재의 보상체계를 보완할 수 있는 효과적인 해결책을 제시하기 위해 삼성카드의 사례를 분석하였다. 그러나 본 연구에서는 2008년의 국내 금융기업 10곳의 경영진의 보수를 조사한 결과 비금융기업들에 비해 금융기업이 비교적 낮은 수준의 경영진 보수를 지급한 것으로 밝혀져, 금융기업의 고임금 문제현황을 다루고 있는 기존의 국외연구와는 사뭇 다른 결과를 나타냈다. 이는 본 연구에서 스톡옵션 지급액은 고려하지 않고 현금지급액만을 기준으로 경영진 보수를 산정했기 때문으로 보이며, 앞으로의 연구에서는 스톡옵션에 대한 연구가 추가적으로 진행되어야 할 것으로 보인다. English Abstract: The purpose of this study is to examine the current problematic executive compensation system in financial corporations, to analyze the causes of the situation, and to propose some effective solutions. Even though the managers of financial corporations are often expected to take the initiative to take a lead in overcoming the current global financial crisis, they are still sticking to excessive and short-term performance based incentives by shirking their sense of mission and responsibility. In this study, we suggest four major factors of the rampant malpractice of financial corporations, and perform a case analysis of Sam Sung Card to propose a key solution to make up for the weak points of the current incomplete compensation system. Unfortunately, we were however unable to observe the high executive compensation level as suggested by previous studies. The compensation level of ten Korean financial corporations for the year 2008 is similar or lower than those of non-financial corporations. It is likely that the result might have been under-calculated by only focusing on compensation paid in cash and not considering the amount of stock options. Thus, stock options paid to the managers of financial corporations should be included in any further research.

On rational exuberance

In his seminal contribution, Tirole (1985) shows that an overlapping generations economy may monotonically converge to a steady state with a positive rational bubble, characterized by the dynamically efficient golden rule. The issue we address is whether this monotonic convergence to an efficient long run equilibrium may fail, while the economy experiences persistent endogenous fluctuations around the golden rule. Our explanation leads on the features of the credit market. We consider a simple overlapping generations model with three assets: money, capital and an asset paper, which behaves as a bubble. Collaterals matter because increasing the amount of capital and asset paper in the portfolio, the household reduces the share of consumption paid in cash. From a positive point of view, we show that the bubbly steady state can be locally indeterminate under arbitrarily small credit market imperfections and, thereby, persistent expectation-driven fluctuations of equilibria with (rational) bubbles can arise. From a normative point of view, monetary policies that are not too expansive are recommended in order to rule out the occurrence of sunspot fluctuations and enhance the welfare evaluated at the steady state.