Specific Incentives Research Articles

To Study the Impact of the Establishment of a Forensic Skills Lab to Enhance Medico-legal Skills among Students of MBBS Phase 3

ABSTRACT Background: : Concerning the link of training via clinical skills practice and skills labs, based on focus, examination shows specific learning incentives to attain practical and theoretical knowledge or manual skills practice. Aim: To assess the impact of establishment of forensic skills labs to enhance medicolegal skills among students of MBBS phase 3. Methods: The present study assessed 120 MBBS students. DOPS teaching method was used along with medicolegal practical skills via FMSL in MMBS phase 3 after a pretest with subjects divided into two groups that were compared, where Group 1 imparted skills and the other group served as control. Students were assessed with OSPE based on skills. The control group was taught via a skills lab, and feedback was taken via questionnaire validation from expert reviewers. Results: Concerning statistical significance in practical test scores, court procedure, MMLC, and VISARA were significantly higher in the FMSL method compared to the traditional method with P = 0.0002, 0.001, and 0.001, respectively. Conclusions: The present study concludes that the Forensic Medicine Skills lab has given the outcome expected to impart skills to Indian medical graduates and can be recommended to implement in medical education in Indian legal settings.

Impact of Training and Career Development on Organizational Performance of Insurance Companies in Nepal

This study aims to examine the performance of best and non-best practicing in insurance companies in Nepal. To measure the impact of specific training, career development, incentives and job security on organizational performance of insurance companies in Nepal.

The impact of sustainable development on the relevance of accounting information and financial activities: Evidence from Thailand.

This study investigates the impact of sustainable development on the relevance of accounting information and financial activities of companies listed on the Stock Exchange of Thailand (SET). The results reveal that earnings per share and book value per share have a positive effect on market value, implying that higher earnings signal strong financial performance, thereby attracting more investor interest. Short-term and long-term debt financing have a negative effect on market value, suggesting that debt financing leads to increased financial risk. Current asset and fixed asset investments have a positive effect on market value by signaling confidence in operational performance. Dividend payouts have a positive effect on market value, demonstrating a commitment to returning value to investors, resulting in a stronger firm reputation and investor perception. However, firms that adhere to sustainable development guidelines face more complex dynamics. The results show that both earnings per share and book value per share have a negative effect on market value, suggesting that while they report high earnings per share and book value per share, these financial metrics cannot alleviate investor skepticism regarding sustainability as a cost of the firm. Short-term debt financing has a positive effect on market value because it provides a flexible and efficient way to fund sustainable investments without diluting equity or incurring long-term debt obligations, while the implications of long-term debt financing and current asset investments are insignificant. Furthermore, the significant positive effect of fixed asset investment underscores the potential long-term benefits of sustainability, despite high initial costs. Lastly, the non-significant negative impact of dividend payouts on market value suggests that the overall effect may also depend on various factors. These results support the idea of efficient market theory, which posits that investors may have negative reactions to what they perceive as financial burdens, diminishing the importance of positive financial metrics and altering market value. This study recommends that policymakers should carefully design regulations and incentives to support sustainable investments. Such approaches may include establishing specific funds, tax incentives, subsidies, and soft loans. Additionally, policymakers need to promote transparency and consistent reporting on the long-term financial benefits of sustainability, which can help reduce investor skepticism and foster a more positive market response. Finally, firms should clearly communicate their long-term sustainability efforts and benefits to investors and various stakeholders, leading to a positive interpretation of the firm's commitment to sustainable development.

THE LEGAL MECHANISMS FOR ENCOURAGING INVESTMENT IN ALGERIA UNDER LAW NO. 22-18

Objectives: The primary objective of the Algerian legislator is to create a structured and regulated environment for investments that fosters a positive climate. The focus is on establishing legal frameworks that enhance transparency and ensure equal treatment for both local and foreign investors. This approach is intended to drive growth in the investment sector and to provide a sense of security and stability for investors. Methods: To achieve these goals, the legislator has emphasized the importance of legal and judicial safeguards, grounded in clear and objective principles. These principles are intended to secure the rights of investors while encouraging a fair and consistent regulatory environment. In addition to general legal protections, the framework includes specific fiscal incentives designed to attract investors. Results: One of the significant developments in this area is the amendment of the Investment Promotion Law No. 22-18, which introduced various legislative measures to support investment. These changes encompass a range of guarantees for investors, alongside tax breaks and financial incentives, which collectively create a more appealing investment landscape. Conclusion: The revised legal framework represents a proactive step by the Algerian government to enhance the investment sector. By ensuring legal protections, promoting fiscal benefits, and fostering an equitable environment for all investors, the new law aims to strengthen Algeria’s position as an attractive destination for investment, thereby contributing to economic growth and development.

Effect of Economic Policies on Business Travel in Brazil

Purpose: The aim of the study was to analyze the effect of economic policies on business travel in Brazil. Methodology: This study adopted a desk methodology. A desk study research design is commonly known as secondary data collection. This is basically collecting data from existing resources preferably because of its low cost advantage as compared to a field research. Our current study looked into already published studies and reports as the data was easily accessed through online journals and libraries. Findings: Economic policies in Brazil have significantly impacted business travel, particularly through changes in taxation, currency fluctuations, and infrastructure investment. The government's fiscal policies, such as tax reforms and high import tariffs, have increased the cost of doing business, leading to a reduction in both domestic and international business travel. Currency volatility, especially the depreciation of the Brazilian real, has made international travel more expensive for businesses, further dampening demand. Additionally, insufficient investment in transportation infrastructure, such as airports and roads, has contributed to inefficiencies, reducing the attractiveness of Brazil as a business travel destination. Unique Contribution to Theory, Practice and Policy: Theory of planned behavior (TPB), institutional theory & economic theory of travel demand may be used to anchor future studies on the effect of economic policies on business travel in Brazil. Businesses would benefit from clearer guidelines on tax incentives related to travel, enabling them to plan and budget more effectively. The Brazilian government should consider revising tax policies to include specific incentives for business travel.

Exploring motivational patterns in high-performing pianists: evidence from Cliburn competitors' biographies.

This research examines the motivational patterns of high-performing classical pianists, characterized by a combination of implicit motives (i.e., non-conscious preferences for specific incentives). Utilizing the Linguistic Inquiry and Word Count (LIWC) software, I analyzed textual data from biographies of 107 pianists (i.e., Juniors aged 13-17: n = 38; Professionals aged 18-30: n = 30; Amateurs aged 35 and older: n = 39) participating in the prestigious 2022-2023 Van Cliburn Competitions. My results showed distinct profiles of implicit motives among pianists compared to non-pianists, with significantly higher need for achievement and need for power. While professional pianists exhibited the lowest level of need for power, junior pianists demonstrated the highest level of need for affiliation. Gender and age predicted part of pianists' implicit motives. Male pianists demonstrated higher need for achievement than females. Finally, age negatively predicted need for affiliation. These findings highlight the motivational patterns within the classical piano community, offering theoretical implications for understanding implicit motives and practical applications for pianist education. Study limitations and future research directions are discussed.

Sustainable Collaboration and Incentive Policies for the Integration of Professional Education and Innovation and Entrepreneurship Education (IPEIEE)

The Integration of Professional Education and Innovation and Entrepreneurship Education (IPEIEE) has been recognized as an important direction for the development of higher education in enhancing the innovation and entrepreneurship awareness and ability of college students. However, universities and teachers are facing challenges while promoting IPEIEE, namely, various stakeholders, the unreasonable design of the curriculum system, and the lack of relevant incentive policies. In addition, IPEIEE in many universities has been placed on hold. Few studies have examined the innovation regime in IPEIEE, despite it being a dilemma that the field confronts. Thus, taking into account the roles of universities, teachers, and students in the evolutionary game model, this paper firstly constructs an evolutionary game model for teachers and students, in which the costs and parameters affecting the benefit matrix, as well as the stability strategy, are refined. Secondly, the behavior of universities is introduced to examine the effects of universities on strategic choices of teachers and students. Finally, a mechanism analysis is conducted in combination with the principal–agent model to gain a deeper understanding of the evolutionary stability of stakeholder strategies in the IPEIEE. The findings emphasize potential Evolutionary Stable Strategies (ESS) that universities, as promoters and guides, should take as measures concerning both economic encouragement and management encouragement to promote IPEIEE, so as that the ‘ideal state’ can be achieved. Furthermore, if specific incentives for different stakeholders are proposed and set at an appropriate intensity, this will encourage active cooperation among these stakeholders. This paper explores the evolution mechanism of innovation strategies in IPEIEE from the perspective of stakeholders, offering a better comprehension of the dynamic evolution of these strategies. The key findings also offer support for policymakers to promote the mutual development of agents in the IPEIEE, thus enhancing the overall sustainable collaborative capability of the IPEIEE.

Research on the Impact of Tax Burden on Entrepreneurial Household Consumption

This study delves into the impact of tax burden on the consumption behavior of entrepreneurial households, revealing that as the tax burden increases, the disposable income of these households decreases, leading to more cautious consumption behaviors. These households tend to prefer saving over spending, which impacts their quality of life and consumption structure. The study indicates that household consumption patterns vary significantly at different levels of tax burden. High-tax households are more likely to cut non-essential spending, whereas low-tax households maintain higher consumption vitality. Additionally, the uncertainty of tax policies and regional differences influence the consumption decisions of entrepreneurial households. The article suggests measures such as implementing tax reductions, offering specific tax incentives for entrepreneurial households, and improving the transparency and stability of tax policies to alleviate the economic pressures on these households, enhance consumer confidence, and promote healthy economic development.

ANALISIS DANA TRANSFER PEMERINTAH PUSAT DALAM MEMENGARUHI INDEKS PEMBANGUNAN MANUSIA DI DAERAH OTONOMI KHUSUS

This study aims to assess how the allocation of transfer funds from the Central Government to Local Government impacts the Human Development Index (HDI) across Indonesia's autonomous regions. The funds analyzed include the Revenue Sharing Fund (DBH), General Allocation Fund (DAU), Special Allocation Fund (DTK), Specific Purpose Grants (DAK), Local Incentive Fund (DID), and Village Fund. The study spans from 2017 to 2022, covering six years following a change in budget classification for the Transfer to Local Government fund. Data was primarily sourced from the Directorate General of Fiscal Balance (DJPK) at the Ministry of Finance and the Central Bureau of Statistics (BPS). The analysis employs panel data using the Fixed Effect Model (FEM) to handle cross-sectional and time-series data. Results indicate a significant positive effect of the Special Allocation Fund (DTK), comprising Specific Purpose Grants (DAK) and Local Incentive Fund (DID), on the Human Development Index (HDI) in Indonesia's autonomous regions, with a p-value below the significance level of 0.05. However, the General Allocation Fund (DAU) shows no significant effect, with a p-value exceeding 0.05. Additionally, the Revenue Sharing Fund (DBH) and Village Fund partially affect the Human Development Index (HDI).

Emergent task allocation and incentives: an agent-based model

In recent times, organizations have increasingly adopted structures in which decision making is distributed rather than centralized. This approach often leads to task allocation emerging from the bottom up, moving away from strict top-down control. This shift raises a key question: How can we guide this emergent task allocation to form an effective organizational structure? To address this question, this paper introduces a model of an organization where task assignment is influenced by agents acting based on either long-term or short-term motivations, facilitating a bottom-up approach. The model incorporates an incentive mechanism designed to steer the emergent task allocation process, offering rewards that range from group-based to individual-focused. The analysis reveals that when task allocation is driven by short-term objectives and aligned with specific incentive systems, it leads to improved organizational performance compared to traditional, top-down organizational designs. Furthermore, the findings suggest that the presence of group-based rewards reduces the necessity of mirroring, i.e., for a precise matching of the organizational structure to task characteristics.

Trust me if you can: Practical challenges affecting the integration of carpooling in Mobility-as-a-Service platforms

App-based Mobility-as-a-Service (MaaS) platforms combining public transport, car- and micro-mobility-shared services with real-time dynamic carpooling are emerging as viable alternatives to solo car use for sub-urban contexts. Insights from real-life implementation are however still limited. Which practical conditions may hinder the effectiveness of MaaS platforms leveraging carpooling? We tackle this question from the perspective of potential users of MixMyRide, a Swiss-based MaaS platform, based on co-design workshop sessions performed in Summer-Autumn 2022. We find four elements of practical interest, resonating with limitations already identified for carpooling. First, integrating carpooling in inter-modal trips increases the number of inter-changes potentially affected by delays. This requires real-time traffic information data, re-scheduling tools, and features for quick interaction between platform users. Second, features to create trust between strangers are needed, which require trade-offs between strict identity check and quick registration. Third, carpooling pick-up/drop-off may either endanger safety (if bus stops are used) or require inconvenient prior agreements, negatively affecting the MaaS platform’s dynamism. Fourth, carpooling offer is not granted. To accept possible discomfort in sharing personal space with strangers and time-effort to enter trip offers, drivers need specific incentives, such as sharing of travel expenses, reward vouchers by public institutions, or virtual gamification and feedback on saved emissions.

Harmonizing Biomass Co-Firing with the Green Economy Paradigm: A Sustainable Approach for Indonesia's Energy Landscape

Objective. To explore the implementation of Biomass Co-Firing in Indonesia, the objective encompasses an analysis of how policies, practices, and investments in Biomass Co-Firing can support desired sustainable development goals. Design/Methodology/Approach. This research utilizes the Library Research methodology, which examines literature, legal documents, and other textual sources to investigate the integration of Biomass Co-Firing into the Indonesian Green Economy. Results/Discussion. The development of renewable energy using biomass and co-firing in power plants offers significant potential for reducing carbon emissions and addressing challenges in clean energy development in Indonesia. With a strong legal foundation as outlined in Article 2 of Law No. 30 of 2007 concerning Energy, the government has provided a solid basis for renewable energy development. However, implementation still faces challenges in permitting regulations and cross-sector coordination. A significant drawback is the lack of specific incentives from the government for biomass co-firing projects, along with uncertainties regarding biomass certification and standardization. To overcome these challenges, concrete steps are needed, such as providing fiscal and financial incentives for industry players and enhancing coordination among the government, private sector, and other stakeholders. Conclusions. The development of renewable energy with biomass and co-firing in power plants promises a reduction in carbon emissions and supports clean energy development in Indonesia, despite facing challenges in permitting and cross-sector coordination. Originality/Value. The harmonization of Biomass Co-Firing projects with the Green Economy paradigm in Indonesia emphasizes resource efficiency, environmental impact reduction, and sustainable economic growth.

Does tax avoidance affect productivity in SMEs?

PurposeThe present paper examines whether tax avoidance practices affect productivity in small and medium-sized enterprises (SMEs). This study also analyses whether this association is moderated by firm size, firm financial constraints, management control of cash flows, or information risk.Design/methodology/approachThis study used a sample of Spanish SMEs for the period 2006–2020. Tax avoidance was measured as the difference between the statutory tax rate and the effective tax rate, and three proxies for productivity were used: overall productivity, capital productivity and labour productivity. Firm fixed effects regressions, propensity score matching and change regressions were used to address the potential sample selection bias and endogeneity between tax avoidance and productivity.FindingsThe results of the empirical analysis suggest that tax avoidance increases productivity in SMEs. This beneficial effect of tax avoidance was found to be higher in small firms than in medium-sized firms, but smaller in firms that faced financial constraints. Furthermore, the findings showed that the tax avoidance effect on productivity was stronger in firms where managers had less control over the cash flow –i.e. dividend-paying firms–, and weaker in firms with lower quality of financial information – i.e. firms with qualified audit reports.Research limitations/implicationsThis study contributes to the research on the economic consequences of tax avoidance by examining its impact on firm-level productivity in SMEs. From additional analyses, the findings of the study suggest that the positive effect of tax avoidance on firm productivity depends on firm size, the financial slack of the firm, and the costs of agency conflicts and information problems associated with tax avoidance.Practical implicationsThe results of this study have implications for SMEs, suggesting that cash flows obtained through tax avoidance, if properly used, may increase firm productivity. In planning their tax avoidance practices, SME managers could take advantage of specific tax incentives designed for SMEs, which is particularly relevant given the low-productivity levels of these firms. The findings also highlight the importance of maintaining high-quality information and implementing mechanisms to mitigate the agency risks associated with tax avoidance to enhance the productivity of SMEs.Social implicationsThis study provides important insights to policymakers on SME tax policy, supporting the special tax rules for SMEs – in force in many OECD and EU countries – which aim to create an environment conducive to SME growth. The findings of the study also have macroeconomic implications, given the importance of firm productivity as a determinant of economic growth and the relevance of SMEs in most national economies.Originality/valueThis study provides novel empirical evidence on the effects of tax avoidance on firm-level productivity in SMEs. Despite the prevalence of SMEs as the predominant type of organization in most countries, no prior research has comprehensively examined this issue for this type of firm. This research question was addressed by considering proxies for overall, capital, and labour productivity and by examining how SME characteristics affect this relationship.

Digital transformation, incentives, and pro-environmental behaviour: Assessing the uptake of sustainability in companies' transition towards circular economy

In an era marked by technological progress and escalating environmental concerns, businesses must swiftly reconcile sustainability with digital innovation and evolving consumer expectations. This study takes a distinct consumer-oriented approach to assess the adoption of a circular economy across businesses. It specifically explores the integration of pro-environmental behaviour, digital transformation, and incentives as pivotal dimensions in enhancing corporate circularity.Employing a mixed-method approach, this research introduces a novel circularity readiness index specifically developed to quantitatively assess the integration of circular economy principles across the corporate landscape in Norway. Analysing 12 companies within the energy, transportation, fashion, food, and retail sectors, the methodology evaluates companies based on their environmental initiatives, the extent of digital technology integration, and the effectiveness of their incentive mechanisms that promote sustainable practices among their customers. This methodology reveals sector-specific insights regarding circular economy practices, with the energy sector demonstrating notable advancements due to the thorough integration of pro-environmental behaviour, digital transformation, and incentives. On the other hand, the food industry encounters challenges when implementing circular economy practices, highlighting the necessity of targeted initiatives.This study emphasizes the relevance of strategic integration of pro-environmental behaviour, digital transformation, and incentives for progressing towards a circular economy. Businesses should leverage the circularity readiness index to benchmark their sustainability efforts and pinpoint areas for enhancement. Policymakers should establish favourable circumstances by implementing specific policies and incentives, thereby enhancing the engagement of both companies and consumers in circular economy practices. This research contributes to the academic discourse on circular economy and offers practical guidelines for stakeholders aiming to foster sustainable development.

Motivation of labor in the Siberian industry during the industrialization period of the late 1920s - 1930s: results and prospects of historical research

During the industrialization period of the late 1920s – 1930s, a new system of motivation for industrial workers and employees was formed in the USSR, which determined the directions and results of Soviet labor policy for a long time. The effectiveness of the application of specific incentives was influenced by factors related to the peculiarities of the development of individual regions and industries. Local research, therefore, is able to expand and deepen our understanding of how labor stimulation was carried out in the Soviet economy. The subject of this study is the historiography of the problem of labor motivation in the Siberian industry in the late 1920s – 1930s. The purpose is to characterize the results of studying this problem and identify promising areas for scientific research. In modern historiography, a theoretical approach has developed to study the problem of motivation of industrial labor in various periods of the USSR's existence. Its basis is the division of incentives into material, compulsory and moral, as well as the idea that labor stimulation solves the tasks of attracting workers to production and encouraging them to improve work results. Historians use local and microhistoric approaches to take into account the impact of various factors on the implementation and effectiveness of labor incentives. The study showed that the motivation of labor in the Siberian industry in the late 1920s – 1930s did not act as a subject of special and comprehensive historical research. Soviet and post-Soviet historiography has accumulated a wealth of factual material related to solving the first of these tasks of labor motivation in the Siberian industry. The solution of the second problem has not yet been studied based on the application of modern theoretical approaches and techniques. The following are promising for study: differentiation of wages for industrial workers and employees, the use of various wage systems at enterprises (piecework, piecework-progressive, etc.), the impact on the consciousness of workers through the materials of the periodical press, the organization of various forms of socialist competition.

R&D Tax Incentive Implementation Rate: A Novel Approach to Analysing Attractiveness of Tax Incentives

The article discusses the current methodology used to evaluate relative attractiveness of R&D tax incentives, namely the B-index. It describes the evolution of the methodology, as well as its main limitations and drawbacks. It further suggests a novel complementary approach to analysing the attractiveness of tax incentives taking into consideration the practical implementation of tax incentives. The developed indicator – the tax incentive implementation (utilisation) rate – accounts for countries’ national features of tax incentive systems and reporting on R&D tax expenditures, and allows the generosity of tax incentives to be linked with the actual amount of tax support received by firms. The specific tax incentive implementation rates were computed for 20 European countries, and compared to draw conclusions about the relative efficacy of policy implementation.

CORPORATE TAXATION THROUGH THE INDIAN PRISM: CONSEQUENCES OF GST AND DTC

The Indian taxation landscape has witnessed significant reforms in recent years, with the introduction of the Goods and Services Tax (GST) and proposed changes in the form of the Direct Tax Code (DTC). This comprehensive analysis explores the dual facets of these reforms and their consequential impact on corporate taxation in India. The study encompasses a detailed examination of the implications of GST implementation and the potential effects of the impending Direct Tax Code on corporate entities. The Goods and Services Tax (GST) was introduced in India in July 2017, heralding a paradigm shift in the taxation system by replacing multiple indirect taxes. Simultaneously, the Direct Tax Code (DTC) has been proposed as a comprehensive reform of direct taxes, aiming to simplify and rationalize the existing tax structure. This analysis delves into the impact of these reforms on corporate taxation, considering the intricate interplay between indirect and direct taxes. The implementation of GST streamlined the indirect tax system, reducing cascading effects and enhancing overall tax efficiency. This, in turn, has had a direct impact on corporate taxation by simplifying compliance procedures and reducing the burden of multiple taxes on businesses. The analysis explores how these changes have contributed to increased tax compliance among corporate entities. GST introduced the concept of Input Tax Credit (ITC), allowing businesses to offset taxes paid on inputs against their final tax liability. This section assesses how the availability of ITC has influenced cost management for corporations, promoting a more transparent and efficient taxation system. The GST regime prompted corporations to reevaluate their supply chain structures to optimize taximplications. The analysis investigates how companies have adjusted their operations to align with the GST framework, leading to improved logistics, reduced lead times, and cost savings. The proposed Direct Tax Code envisions revisiting tax slabs and rates, potentially altering the corporate tax landscape. This section examines the anticipated impact of changes in tax rates on corporate entities, exploring the implications for businesses of varying sizes and sectors. The DTC proposes a reevaluation of existing tax incentives and deductions. The study analyzes the potential impact on corporate decision-making, investment patterns, and overall economic growth. It delves into the implications for sectors currently benefiting from specific incentives. The DTC aims to align international taxation principles with global standards, impacting the taxation of multinational corporations operating in India. The analysis assesses the potential challenges and opportunities for such entities, considering the implications for transfer pricing and cross-border transactions.

TAX INCENTIVE SCHEMES AND BALANCED REGIONAL ECONOMIC GROWTH IN TURKEY

This study delves into the impact of investment incentives on regional development and economic growth in Turkey. It provides a comprehensive overview of the investment incentive system introduced in 2012, categorizing regions based on development levels and offering various incentives such as tax exemptions, reductions, and social security support. The research investigates the relationship between investment incentives, public expenditures, regional differences, and economic growth. Through a thorough examination, the study aims to understand how the current incentive system addresses regional disparities and promotes balanced economic growth. The literature review explores international perspectives, including China and Italy, providing insights into the effectiveness of tax incentives on R&D investment and macroeconomic performance. The study also analyzes the European Commission's report on tax incentives for venture capital and business angels. The results and discussion section outlines the investment incentive framework in Turkey, emphasizing regional, priority, large-scale, and strategic schemes. The research considers twelve investment categories, each supported by specific incentive measures. The conclusion emphasizes the importance of aligning incentives with regional needs, fostering equitable development, and promoting strategic sectors. It highlights the significance of quasi-tax supports, VAT exemptions, and interest subsidies in encouraging investments. The employment and income tax withholding supports, especially in the 6th region, are recognized for their contribution to reducing unemployment. The study concludes by underscoring the need for continuous evaluation and adaptation of incentive schemes to address evolving economic challenges.

How stakeholders influence MaaS implementation? An analysis based on evolutionary game theory

Mobility as a service (MaaS) is an emerging mobility service that has received high expectations from the transportation sector in recent years. MaaS integrates multiple transportation services into a single platform, enhancing the accessibility of various transportation resources. However, the complex integration involved in MaaS leads to uncertainty in stakeholder interaction and system implementation. For the successful deployment and development of MaaS, this study aims to identify stakeholder enablers and barriers as well as to solve the uncertainty in MaaS implementation. We construct a tripartite evolutionary game model among government, transportation service providers (TSPs) and travelers. By synthesizing the evolutionary stability of each participant through simulation, we explored the impact of factors on stakeholder strategy choices and further analyzed the stability of equilibrium points in the system. The results show that: 1) Government subsidies and penalties, TSPs' costs and revenues, travelers' utility and expenses all impact the strategy choices of stakeholders. 2) The costs of government policy-making and TSPs will influence the evolution of MaaS system into two different development modes: free-market model and policy-supported model. 3) Travelers’ utilities play a crucial role in promoting the stability of travelers' adoption of MaaS. This study provides new insights into identifying stakeholder demands. The findings contribute to formulating specific policy recommendations and incentive measurements to help in the strengthen and forward movement of MaaS development in the future.

The New Normalcy and the Pandemic Threat: A Real Option Approach

This paper delves into the evolving post-pandemic business arena, focusing on how liability options and social norms are reshaping industry structures. We anticipate lasting transformations due to the emergence of new safety standards that bridge the gap between corporate interests and societal welfare. To foster these changes, effective post-lockdown economic policies could encompass not only rigorous social standards but also specific financial incentives. Examples of such incentives include tax relief for businesses implementing comprehensive health protocols and subsidies for those transitioning to remote work or modifying production layouts to minimize infection risks. Our analysis delineates two predominant operational frameworks for firms in this new environment: the liability and property regimes. These are determined by each firm’s financial outcomes and the extent of damages incurred, all measured against societal expectations. Firms within the liability regime may exhibit only partial compliance, often attributed to ambiguous standards and prevailing uncertainties, potentially leading to a dip in profits. In contrast, entities operating under the property regime are likely to engage in more extensive organizational restructuring. A key insight from our study is the paradigm shift in investment behavior, increasingly influenced by risk management, particularly in the strategic choice between liability and property rules. This shift is evident in how firms now prioritize managing potential external liabilities, such as environmental hazards or evolving regulatory landscapes, in their investment decisions. Consequently, the traditional growth-centric investment paradigm is being supplemented by strategies that emphasize safeguarding against various external risks, marking a significant realignment in corporate investment philosophies post-pandemic. This transition underscores the intricate interplay between economic policies, corporate strategies, and societal dynamics in the contemporary business milieu.