Capital Share Research Articles

Impactos da COVID-19 na saúde mental da população chinesa no iní­cio da epidemia: Revisão Integrativa

Objetivo: revisar as publicações cientí­ficas atuais sobre os impactos da COVID-19 na saúde mental da população chinesa no iní­cio da epidemia. Método: Trata-se de uma revisão integrativa com levantamento de estudos em bases de dados online: PubMed, SciELO e LILACS. Os descritores utilizados na busca foram: "COVID 19 AND social isolation" "COVID 19 AND mental health" "COVID 19 AND psychological stress" "COVID 19 AND panic" "COVID 19 AND anxiety" "COVID 19 AND emotions". A busca compreendeu o perí­odo de 01 de abril de 2020 a 14 de abril de 2020. Foram selecionados estudos nos idiomas português, inglês e espanhol. Resultados: Quatro atenderam aos critérios de elegibilidade e compuseram a leitura e sí­ntese da presente revisão. Conclusão: Evidenciou-se a presença de indicadores emocionais negativos, como: a ansiedade, depressão, estresse, indignação, diminuição da felicidade, aumento da sensação de risco social e diminuição na satisfação com a vida, redução da qualidade do sono e ní­veis baixos de capital social. Apesar dos atuais estudos serem realizados apenas em um paí­s, a China, os resultados podem auxiliar no entendimento das condições da saúde mental daquela população e servir de exemplo para a realização de pesquisas em outros paí­ses, que devem avaliar a saúde mental da sua própria população com o intuito de direcionar iniciativas de saúde pública. 

Genetic distance, economic growth and top income shares: Evidence from OECD countries

The relationship between economic growth and income inequality remains a puzzle in the literature. The main problem has been finding a way to account for the endogeneity of growth. Using century-long data of 14 OECD countries, this study disentangles the growth–inequality relationship. In doing so, our main contribution is employing genetic and geographical distances as instruments for economic growth. The instruments are constructed on the premise that the growth of one country spills over to the others if they are connected through trade and other forms of exchange; however, the genetic and geographical distances between countries represent barriers to such spillovers. Using alternative specifications and measures, we find that growth reduces the inequality measured by top income shares. As capital share increases in the growth process and capital substitutes labour, inequality-reducing strength of growth declines. Another important finding is that the effect of growth on top income shares is more significant among the highest income groups.

International factor mobility and environment in a dual agricultural economy

The purpose of this study is to investigate the influences that international factor movements have on the environment in developing country under agricultural dualism. By using a general equilibrium model that incorporates a modern agricultural sector in different stages, we analyse the effects of international factor movements on the environment. At the beginning of the modern agricultural sector, international labour movement has no influence on the environment; if the modern agricultural capital share in the economy increases to a certain level, international capital inflow improves the environment in the developing countries whereas international capital outflow harms the environment, otherwise, international capital inflow harms the environment whereas international capital outflow improves the environment. However, after the popularization of modern agriculture, international labour movement and international capital movement affect the environment in the same direction: factor inflow harms the environment, whereas outflow improves the environment. Thus, it is possible for the international factor movement be compatible with the environmental protection in a developing country.

Macroeconomic Growth in Vietnam Transitioned to Market: An Unrestricted VES Framework

The Vietnamese economy has increased at high speed over the transformation decades; however, most recent studies on the economic growth of this country used the Cobb-Douglas or CES (Constant Elasticity of Substitution) production functions, which are unable to explore the relationship between the elasticity of capital-labour substitution and development process, and hence, are not relevant to accessing a dynamic economic system. For that reason, this study is conducted to specify an unrestricted VES (Variable Elasticity of Substitution) production function in a one-sector growth model of Vietnam, highlighted by two characteristics: successful transition from plan to market and rapid progress. The VES is given preference over the CES and the Cobb-Douglas having the elasticity of substitution between capital and labour varying with economic development. By employing a Bayesian nonlinear regression through MCMC methods, the study reported the following findings: (1) the above-unity variable elasticity of capital-labour substitution in an aggregate unrestricted VES function specified for Vietnam shows that the model generates the possibility of endogenous economic growth; (2) the capital share tends to increase, while the labour share faces a downward trend along with the development of Vietnam; (3) the VES is empirically proven through a Bayes factor test to be superior to the CES and Cobb-Douglas for analysis of the growth process of Vietnam, an emerging transition economy.

Simple Joint-Stock Company – A New Type of Polish Commercial Company Dedicated (Mostly) to New-Technology Entities

This article presents a new Polish regulation concerning the simple joint-stock company (Polish: prosta spółka akcyjna; SJSC). It is a legal form of commercial company, dedicated mostly (but not exclusively) to new-technology entities. Its main advantage is the possibility to subscribe shares in exchange for a contribution in the form of work or services provided to the company. This will make it possible for SJSC promoters to attract investors in order to run the enterprise, while maintaining control over the company and excluding personal liability for its obligations. Another characteristic is that the SJSC has no share capital. Even so, the degree of actual protection of company's creditors does not seem lower than that provided by companies supplied with a share capital. This is because the creditors’ interests are secured not only by the obligation to conduct the solvency test before paying out funds to a shareholder, but also by restrictive rules of responsibility of management board members for company's liabilities if the enforcement carried out against the company proves ineffective.

Status wspólnika spółki handlowej jako tytuł ubezpieczenia społecznego

Opracowanie podejmuje zagadnienie statusu wspólników spółek handlowych w aspekcie obowiązku ubezpieczenia społecznego. Analiza ta wykazuje brak spójnej koncepcji ustawodaw-czej. Skorygowania wymaga podmiotowy zasięg obowiązku ubezpieczenia wspólników niektó-rych spółek osobowych — spółki komandytowej i spółki komandytowo-akcyjnej. Ponadto status wspólnika jako tytuł ubezpieczenia społecznego nie jest powiązany z prowadzeniem przez spółkę działalności gospodarczej. W przypadku wspólników spółek kapitałowych ubezpieczenie społecz-ne powinno być natomiast wyjątkiem od reguły nieubezpieczenia. Ubezpieczeniu społecznemu nie powinien podlegać kapitał, lecz praca lub działalność zarobkowa.

Limited Liability Companies in Croatia

This article aims to provide an overview of the main features of the limited liability company (hereinafter: LLC) in Croatia. LLCs are the most common company type in Croatian business practices. This is because of low amounts of minimum share capital, limited liability of shareholders, freedom of shareholders to regulate own internal relations and the LLC’s internal organization, which is regulated by the articles of association and holds fewer formalities to function. Interestingly, most LLCs are established as a single shareholder LLC, followed by two and three shareholders LLCs. This supports the finding that Croatian LLCs are often closely held companies, whose founders also act as directors and employees of the company. Since 2012, it is possible to form a simple LLC for a minimum share capital of 10 KN (cca. 1.32 EUR), and as of 2020, LLCs can even be established online. Thus, the simplicity and cost effectiveness to establish an LLC remain its primary advantage. Mandatory provisions that shareholders must respect are inter alia capital requirements and capital maintenance, formation, and competencies of the management board and shareholders’ meeting. The shareholders’ meeting is superordinate to other LLC bodies, allowing directors to be appointed and dismissed at any time. Shares are alienable and inheritable, but their transfer may be limited by the LLC’s articles of association. In certain cases, shareholders can be held personally liable for the LLC’s obligations (e.g., in the event of abuse of limited liability, partial payment of capital contributions, and the LLC’s dissolution without liquidation). Further specifics and current challenges of LLCs in Croatia will be analysed in detail.

Declining Labor and Capital Shares

ABSTRACTThis paper presents direct measures of capital costs, equal to the product of the required rate of return on capital and the value of the capital stock. The capital share, equal to the ratio of capital costs and gross value added, does not offset the decline in the labor share. Instead, a large increase in the share of pure profits offsets declines in the shares of both labor and capital. Industry data show that increases in concentration are associated with declines in the labor share.

ПРОБЛЕМЫ НАСЛЕДОВАНИЯ ДОЛИ В УСТАВНОМ КАПИТАЛЕ ОБЩЕСТВА С ОГРАНИЧЕННОЙ ОТВЕТСТВЕННОСТЬЮ

In this paper, we present the results of a study of the most actual problems in civil law related to the inheritance of corporate rights. It seems possible, based on the analysis of forensic-arbitration practice, to receive answers to some of the most pressing problems in the pursuit of the share of the charter capital of a limited liability company

On the Effects of Taxation on Growth: An Empirical Assessment

Growth models predict that taxation may have permanent effects on per capita real GDP growth. We look at, and test this prediction for 21 OECD countries, over the period 1965-2010. We employ a semi-parametric technique - namely, a Finite Mixture model - to estimate an augmented version of the Barro (1990) model, in order to consider both direct and indirect effects of taxation on capital share parameters. The estimation technique allows to deal with unobserved heterogeneity and to perform a cluster analysis. Our results support the idea that taxes are generally harmful for growth. The coefficient estimates indicate that a cut in the corporate income tax rate by 10 % raises the GDP growth rate by 0.9% while a cut in the personal income tax rate by 10% raises the GDP growth rate by 1%.

Foreign Direct Investment in Volgograd Region: Distribution and Role in the Economy

Foreign direct investment (FDI) has played a key role in the efforts to achieve a sustainable economic growth and high social and economic indicators in many countries and regions of the world. The paper focuses on the analysis of the role of foreign direct investment in the economy of Volgograd region. The author uses the comparative analysis, historical and statistical methods, and correlation analysis. The analysis of the indicators of 2011–2019 shows a small share of foreign direct investment in the gross regional product in Volgograd region in comparison with the Russian Federation, and insufficient provision of regional economy with labour resources. The comparison shows a discrepancy between the real needs and sectoral distribution of foreign direct investment in the regional economy. The research on the country and type composition of FDI in Volgograd region reveals some positive trends. The share of investments in the form of capital in comparison with the share of debt capital has increased; the share of off-shore foreign direct investment has decreased. The correlation analysis reveals a moderate or weak relationship between foreign direct investment and key economic indicators of Volgograd region, i.e. gross regional product, employment rate, average monthly income of the population, depreciation of fixed assets and labour productivity. The results show the need to develop special measures to maximize benefits from the cooperation of regional businesses and foreign investors in Volgograd region.

What Is Driving Paradigm Shifts in Plastic Surgery and Is Cosmetic Surgery Keeping Up?

Cosmetic surgery represents 20 to 30 percent of total plastic surgical volume. The authors hypothesize that with current capitalization and market share, cosmetic surgery should be proportionally represented in scientific innovation. All journals that may contain articles relevant to plastic surgery were selected from the 2016 edition of Journal Citation Reports. The authors identified, reviewed, and analyzed the 100 top-cited plastic surgery clinical articles using the Science Citation Index Expanded (1900 to 2017) as a proxy for innovation. The top-100 articles were cited a median of 329.5 times (range, 240 to 1709 times). Sixteen journals were represented, led by Plastic and Reconstructive Surgery (45 percent) and Annals of Surgery (15 percent). Fifty-six percent were reconstructive, 13 percent were breast, 11 percent were pediatric/craniofacial, 11 percent were cosmetic, and 9 percent were hand/peripheral nerve articles. Only 11 percent of articles represented level of evidence I or II, with the majority (79 percent) of articles being level IV. Sixty-seven percent of publications originated from United States. The 11 cosmetic articles originated from different subspecialties: injectables, fillers, and fat grafting (n = 7); contouring (n = 2); facial cosmetic (n = 1); and general cosmetic (n = 1). Cosmetic innovation is not keeping up with reconstructive innovation; it is unknown why cosmetic surgery is lacking. The authors offer several speculations as to why there is a gap in cosmetic surgical research and, by proxy, innovation.

Performance of Equipment Productivity for Highway Projects - A Review

The largest share of investment capital in all developing countries finds its way in to construction. In our India construction industry are growing rapidly. The development of construction industry is the bare for all industrial activities in any developing country, since the economic progress depends on the investment of the capital for future production; the rate of construction activity has a significant effect upon the economic health of the nation and its future growth. Construction equipment plays a significant role in the execution of modern high-cost time-bound construction projects. Equipment is an economic investment and the contractors must apply time value analytical formula to the process of machine utilization. The most important aspect of estimating and building a construction project is determining production and cost and controlling both during the progress of work. The planning & selection of equipment is depends upon construction structure, location, and various construction methods. Also that depends on various construction operations. This study emphasizes the vital role of construction equipment in construction industries to optimize the profit by reducing the labour hours and also aimed to identifying the best practices of improving the productivity of construction for the Indian scenario. With this aid planning would be more systematic, logical and efficient as resource allocators and managers would be aware of output for particular equipment.

Positive feedback in skill aggregation across Chinese cities

ABSTRACT This paper examines whether human capital levels diverged across Chinese cities between 1990 and 2010. By employing a series of instruments for the initial human capital share, consistent positive feedback between current human capital levels on the subsequent growth of human capital in the 2000s is found. The findings are also robust to alternative instrumental variables. Further evidence suggests that a city's industry structure does not explain the positive feedbacks, but rather urban amenities appear to be the primary causal factor. To mitigate large provincial inequality in development, China should mitigate growing differentials in human capital by improving local urban amenities.

Composition of public expenditure and growth of per capita income in Indian states: a political perspective

This paper has analysed the composition of public expenditure and its impact on per capita income in major states of India. The study finds that the share of revenue expenditure in total spending of the government has increased in all the states although its effect on growth is negative. The share of capital expenditure, government spending on infrastructure, agricultural productivity, gross capital formation and share of service sector in net state domestic product have significant positive impact on per capita income. The paper has explained the political economy of public expenditure and contributed to the literature by using theoretical framework in growth process and incorporating other factors as control variables in panel regression. It has tried to explain why the government spends more on the unproductive or less productive heads in the revenue account at the cost of long-run growth. This paper argues that the government in a democratic set-up allocates a greater share of funds to distributive purposes to strengthen its support base. The results of panel regression show that if the government remains in power for a long period, the share of revenue expenditure will be higher in total spending. The effect of coalition government is, however, uncertain.

THE EFFECT OF WORKING CAPITAL TURNOVER ON PROFITABILITY (EMPIRICAL STUDY OF TEXTILE AND GARMENT COMPANIES LISTED ON THE INDONESIA STOCK EXCHANGE FOR THE 2014-2018 PERIOD)

Cash flow from operating activities is the amount of cash flow originating from working capital is the right or part owned by the owner of the company indicated in the postal capital (share capital), surplus and retained earnings (S. Munawir, 2010: 19). Profitability is a ratio to assess a company's ability to find profits or profits in a certain period. This ratio can also provide a measure of the level of effectiveness of company management which can be shown from the profits obtained from sales or from investment income (Kasmir, 2015: 22). In this study the authors use quantitative methods, with descriptive research approaches and verification analysis. by using the research method will be known a significant effect between the variables studied so that conclusions that will clarify the picture of the object under study, the sample in this study were 14 companies The analytical tool used in this study uses simple linear regression. Based on the research results, the profitability represented by ROA is influenced by the working capital turnover. Working Capital Turnover does not have a significant effect on Return of Assets.
 Keywords: working rounds of working and return of asset.

Initiation of a Criminal Case Suggesting Possible Stealing Through Foul Means of the Funds Allocated for Implementation of Investment Projects at Enterprises with Government Capital Sharing

Such stage of investigation as verifying a report of a crime or initiation of criminal proceedings has always been a key period in which the basis of the forthcoming investigation and the conditions for its effectiveness are laid. This thesis fully refers to the investigators activity in enquiring fraudulent acts committed against the funds allocated for implementing investment projects, which makes this problem even more relevant in current terms. The article examines the problems faced by law enforcement agencies in checking a report of fraud with regard to the funds allocated for implementing investment projects at enterprises with government capital sharing. On the basis of studying the practical materials, the article makes scientific conclusions and gives recommendations in the field of enquiry methodology for the category of crimes under consideration, which may be useful for persons involved in solution and investigation of such crimes.

Main approaches to estimating the cost of shareholder equity of oil and gas producers

Subject. The study analyzes generally accepted approaches to assessing the value of companies on the basis of financial statement data of ExxonMobil, Chevron, ConocoPhillips, Occidental Petroleum, Devon Energy, Anadarko Petroleum, EOG Resources, Apache, Marathon Oil, Imperial Oil, Suncor Energy, Husky Energy, Canadian Natural Resources, Royal Dutch Shell, Gazprom, Rosneft, LUKOIL, and others, for 1999—2018. Objectives. The aim is to determine the specifics of using the methods of cost, DFC, and comparative approaches to assessing the value of share capital of oil and gas companies. Methods. The study employs methods of statistical analysis and generalization of materials of scientific articles and official annual reports on the results of financial and economic activities of the largest public oil and gas corporations. Results. Based on the results of a comprehensive analysis, I identified advantages and disadvantages of standard approaches to assessing the value of oil and gas producers. Conclusions. The paper describes pros and cons of the said approaches. For instance, the cost approach is acceptable for assessing the minimum cost of small companies in the industry. The DFC-based approach complicates the reliability of medium-term forecasts for oil prices due to fluctuations in oil prices inherent in the industry, on which the net profit and free cash flow of companies depend to a large extent. The comparative approach enables to quickly determine the range of possible value of the corporation based on transactions data and current market situation.

The Influence of the Political Elite on the Formation of Human Capital in Russia

Strategic objectives, prospects and realities of development in modern Russia, outlined in the may Decree of the President of the Russian Federation (2018), determine the special role of human capital as a factor of economic growth and a huge resource of socio-economic development of the country as a whole. The state policy in the sphere of human capital, as an important part of the economic strategy and social policy, should be formed taking into account new challenges and contribute to the achievement of national goals and implementation of strategic objectives of the Russian Federation. Human capital is currently shaping the economies of developed countries to the greatest extent. This is demonstrated by such States as Germany, Japan, South Korea, Singapore, etc. in the structure of national economies, the share of human capital reaches 80%. The formation history of the strongest economies in the world shows a direct dependence on the quality of human capital and the activities of the political elite, the leadership ambitions of political leaders, from intelligence, education, motivation, political will which is crucial to socio-economic development and prosperity of many developed countries. In turn, the Russian elite itself demonstrates the special characteristics of its own human capital as the main productive and social factor in the development of the modern economy, society and statehood. In this article, the authors consider the role of the political elite in the formation of human capital in the context of social policy in modern Russia.

Inequality over the Business Cycle – The Role of Distributive Shocks

This paper examines the dynamics of wealth and income inequality along the business cycle and assesses how they are related to fluctuations in the functional income distribution. In a panel estimation for OECD countries between 1970 and 2016 we find that on average income inequality - measured by the Gini coefficient - is countercyclical and also shows a significant association with the capital share. Up on a closer look, we find that a remarkable share of one third of all countries display a rather pro- or acyclical relationship. In order to understand the underlying cyclical dynamics of inequality we incorporate distributive shocks, modeled as exogenous changes in the capital share, into a real business cycle model, where agents are ex-ante heterogeneous with respect to wealth and ability. We show how to derive standard inequality measures within this framework, which allow us to analyze how productivity and distributive shocks affect both, the macroeconomic variables and the personal income and wealth distribution over the business cycle. We find that whether wealth and income inequality in the model behaves countercyclical or not depends on two aspects. The intertemporal elasticity of substitution and the persistence of the shocks. We use Bayesian techniques in order to match GDP, capital share and consumption to quarterly U.S. data. The resulting parameter estimates point towards a non-monotonic relationship between productivity fluctuations and inequality. On impact, inequality increases in response to TFP shocks but declines in later periods. This pattern is consistent with the empirically observed relationship in the USA. Furthermore, we find that TFP shocks explain about 17 percent of the cyclical fluctuations in inequality in the USA.