bluuebunny/crossref_metadata_2025 huggingface dataset:
Country-level governance, accounting standards, and tax avoidance: a cross-country study
Authors: Zeng Tao
Published: September 2019

Purpose

The purpose of this paper is to examine the impact of country-level governance and accounting standards on corporate tax avoidance.

Design/methodology/approach

This paper is an empirical work using a sample of listed companies from 36 countries.

Findings

This paper finds that firms resident in countries with stronger country-level governance engage in less tax avoidance. Aspects of stronger country-level governance include higher government effectiveness and regulatory quality, and stronger enforcement of law and control of corruption. This paper also finds that firms adopting international accounting standards (IFRS) engage in less tax avoidance than those using local accounting standards. Further examination of the effect of interactions between country-level governance and the adoption ofIFRSon tax avoidance finds that there is a substitute relationship between country-level governance and the adoption ofIFRS.

Social implications

This study has significant implications for policy makers, corporate management and academics. It documents that when a country implements governance targeting improving government effectiveness, enhancing regulatory quality, strengthening enforcement of laws and controlling corruption, this will lead to less corporate tax avoidance. It also shows that the adoption ofIFRSwill reduce corporate tax avoidance, probably by enhancing accounting quality and disclosure, and that the adoption ofIFRSprovides a bond mechanism in reducing tax avoidance in countries with weak governance.

Originality/value

This paper is the first study to examine the impact of country-level governance on tax avoidance at the corporate level. It is also the first study to examine how country-level governance interplays withIFRSin shaping firms’ tax avoidance activities.
Country-level corporate governance and protection of minority shareholders’ rights
Authors: Agyemang Otuo Serebour , Osei-Effah Mavis , Agyei Samuel Kwaku , Gatsi John Gartchie
Published: September 2019

Purpose

This paper aims to examine how country-level corporate governance structures influence the level of protection of minority shareholders’ rights in the context of Africa.

Design/methodology/approach

Data are collected from the world competitiveness report for the period 2010-2015. To examine the validity of the study’s hypotheses empirically, the authors use ordinary least squares with correlated panel-corrected standards error (PCSE).

Findings

This paper offers additional empirical evidence on the level of protection of minority shareholders’ rights in Africa. It highlights that country-level corporate governance structures such as efficacy of corporate boards, strength of investor confidence, regulations of securities exchanges and the operation of the Big 4 accounting firms have significant positive impacts on the level of protection of minority shareholders’ rights.

Research limitations/implications

This paper fails to include all African countries because of non-availability of a report for some African countries. Thus, the findings on the level of protection of minority shareholders’ rights in a country are applicable to the countries used in this study.

Practical implications

This paper emphasizes on the relevance of country-level corporate governance structures to ensuring a reasonable level of protection of minority shareholders’ rights.

Originality/value

This paper partially fills the gap regarding the absence of an empirical cross-country study on how country-level corporate governance structures influence the level of protection of minority shareholders’ rights.
Quality and quantity of FTSE-100 segmental information reporting
Authors: Mardini Ghassan H. , Ammar Sameh
Published: September 2019

Purpose

This study aims to explore the impact of international financial reporting standard no. 8 (IFRS 8) on segmental information reporting (SIR) after the post-implementation review (PIR) issued by international accounting standards board (IASB). This impact is examined in relation to quality and quantity as SIR dimensions represent, respectively, the level of reported items and segments. As a complement to this, the chief operating decision maker (CODM) identity is considered to understand the patterns of SIR dimensions.

Design/methodology/approach

The SIR of the UK financial times stock exchange 100 (FTSE-100) listed companies over the period 2013-2016 is the research’s scope. Several criteria were developed to ensure a representative research sample. A disclosure index approach was used facilitating the use of content analysis for data collection, which pertained to the dimensions of SIR published by the FTSE-100 following IFRS 8 PIR.

Findings

The IFRS 8 PIR has had several implications shaping the growing trend that is underpinned by the SIR dimensions published by FTSE-100 companies. First, the SIR quantity dimension positively corresponds over 2013-2016, but it still does not meet IASB’s demands. This, secondly, also applies to the quality dimension of SIR to uncover inconsistency with the existing knowledge being held regarding the introduction of IFRS 8. More specifically, the response of the FTSE-100 to mandatory and voluntary items seems to be in transition of substitution. Third, CODM’s identity was an insightful dimension in rationalising the understanding through the aforementioned dimensions. It is undertaken by boards of directors or executive committees and the case of the latter is associated with more disclose in relation to the CODM’s identity.

Practical implications

These findings reveal implications to: academics undertaking further research about IFRS 8 PIR to challenge or endorse this conclusion, using similar or alternative approaches; the stakeholders’ decision-making process; and policymakers to re-think the structure of mandatory and voluntary items.

Originality/value

This paper provides empirical evidence on the quality and quantity of SIR published by FTSE-100 companies following IFRS 8 PIR.
The effects of IFRS adoption and firm size on audit fees in financial institutions in Ghana
Authors: Coffie William , Bedi Ibrahim
Published: September 2019

Purpose

This study aims to investigate the effects of international financial reporting standards (IFRS) adoption and firm size on auditors’ fees determination in the Ghanaian financial industry.

Design/methodology/approach

The authors use the annual report of 52 listed and non-listed firms spanning from 2003 to 2014. Guided by the hypotheses, the authors conditioned audit fees on IFRS adoption and firm size and execute robust fixed effects panel regression.

Findings

The results show that IFRS adoption has a positive coefficient with audit fees suggesting that the adoption of IFRS, indeed, increases the audit fees paid by banks and insurance firms, as well as the industry as a whole. The results are consistent with the idea that IFRS adoption increases auditor efforts with respect to time and complex nature of some aspect of the standards. Again, as expected, the coefficient of size is positively and significantly related to audit fees. This indicates that the size of the auditee plays a vital role in determining audit fees.

Research limitations/implications

The study is limited by industry (i.e. the financial services industry) and geography (i.e. Ghana). The authors propose further research that will widely consider other sectors and countries to improve the current scanty literature in this area. Besides, theoretically, the study is limited to the lending credibility theory and feels compelled to reiterate the importance of considering alternative theoretical perspective(s) in future research.

Practical implications

This study is significant to practitioners as it demonstrates the importance of the determinants of the auditors’ fees. It helps auditors to apply the relevant charging formula when determining audit fees, while it helps managers to improve upon the quality of reporting to control audit bill and forecasting their audit expenditure.

Originality/value

The results of the study extend the literature on the cost side of IFRS adoption by investigating the financial services industry and non-listed firms in a new context, i.e. a developing country where this research is uncharted. The existing studies based their analysis on either cross-section or pooled analysis and shorter post-adoption period (Cameran and Perotti, 2014). However, using an extended post-adoption period data, the authors base the study on analytical panel model, which directly examine the cost side of IFRS adoption with size as joint key explanatory variables with emphasis on financial institutions and external auditors.
Prospects and restraints of green roofs for high-rise buildings in Sri Lanka
Authors: Charles Subaskar , Vidyaratne Herath , Melagoda Damithri Gayashini
Published: September 2019

Purpose

Green roofs are acknowledged as a method to substitute greenery washed out by the urbanization. They provide many ecological and sustainable benefits of greenery; reduce the adverse effects of high-rise building constructions. Though this concept is more popular across many countries over the past few decades, still, implementation of this technology in Sri Lanka is new and scant. Hence, the purpose of this paper is to identify and analyze the potential of green roofs in high-rise buildings in Sri Lanka.

Design/methodology/approach

The data collection was conducted through expert interviews and questionnaire survey. Expert interviews were carried out to validate the prospects and restraints identified through literature review to the Sri Lankan context and analyzed using content analysis. Questionnaire survey identified the most significant prospects and restraints using descriptive statistics and paired sample t-test. Purposive sampling was used to select participants.

Findings

Reduction of air pollution, aesthetical appearance, thermal benefits and energy savings, reduction of an urban heat island effect, the addition of points in the green rating system are the top most significant prospects that need to be highlighted in promoting green roof systems in Sri Lankan high rises. Less space allocation on rooftops, lack of technical competence and lack of awareness and research are restraints that need most effective elimination strategies to encourage green roof systems.

Originality/value

The first identified and quantified prospects and restraints for green roof system in Sri Lankan high-rise buildings can be utilized by the government, donors, multi-lateral agencies to promote the sustainable development in Sri Lanka and this knowledge could be used in different scale awareness programs. The value of this paper is such that the paper discusses the links of green roofs with the other facets of sustainability. The new legal reforms and amendments in Sri Lanka could potentially be pending with findings of this study.
Controversies around geographical indications
Authors: Marie-Vivien Delphine , Carimentrand Aurélie , Fournier Stéphane , Cerdan Claire , Sautier Denis
Published: September 2019

Purpose

The purpose of this paper is to advance our understanding of the links between the representativeness of the local community by those drafting and elaborating the specification of the geographical indication (GI), the market access and the use of the GI.

Design/methodology/approach

The present study followed a comparative research design, building upon primary data from the field works dealing with the elaboration and development of GIs worldwide, from legislations on the protection of GIs and from secondary data, i.e. literature dealing with the elaboration of the GI specifications at case level or national/international level.

Findings

The GI is permeable to a multitude of objectives and the management of controversies represent the “price of participatory democracy”, which still needs to be under the umbrella of the justice of peace, the State authority. Representativeness does not necessarily conduct to equity and fairness. It depends on the heterogeneity of the value chain, which might lead to the dilution of the GI specificity. Mandatory membership might not be always the best option Transparency to guarantee the producer’s group works for the common good is essential.

Originality/value

The controversies in the elaboration of the GI product specification are directly induced by the controversies in the management of the GI either by the collective organisation of producers or by the public authority. Issues such as representativeness, mandatory membership, transparency and heterogeneity of the value chain are deeply analysed to understand the functioning of GI producers associations and their limits. The state intervention as justice of the peace appears necessary.
Customer involvement in product development
Authors: Melander Lisa
Published: September 2019

Purpose

Being innovative and bringing new products to the market fast is important for firms to stay competitive. Customers are important for providing input to product developments in industrial markets. The purpose of this paper is to increase understanding of how firms use Voice of the Customer (VoC) in product development and how VoC can complement other customer involvement methods.

Design/methodology/approach

The paper is based on a qualitative case study of a global leading and innovative firm, a maker of tools for the automotive industry. The study provides detailed insight into the implementation of VoC for product development.

Findings

The process of customer involvement in product development through VoC is explored. The study shows that by using the VoC method, firms can gather knowledge for input to product development projects while developing relationships with a larger number of customers. The findings point out that VoC can be modified to focus on customer needs related to product development as well as marketing efforts requiring cross-functional collaboration. The VoC method is suitable for combining with other customer involvement methods such as project involvement and pilot testing. Through VoC, firms have the chance to benchmark across industries and regions.

Research limitations/implications

The paper provides insights into the VoC process of customer involvement aimed at product development. The case study provides an illustration of how an industrial firm uses VoC in product development. The paper points out the importance of managing external (customer) involvement in product development and internal (cross-functional) collaborations.

Practical implications

A set of questions that firms can ask themselves before embarking on customer involvement has been developed. The paper shows that customers can be involved at a number of points in time, have a wide range of roles and contribute different knowledge. VoC is suitable for combining with other customer involvement methods.

Originality/value

The contribution of the paper consists of a case study illustrating how customer involvement in product development can be achieved through VoC. A number of customer involvement methods for product development are discussed for combining with VoC, showing how different methods are complementary in product development.
Distributed manufacturing
Authors: Ul Haq Ijaz , Franceschini Fiorenzo
Published: September 2019

Purpose

The purpose of this paper is to develop a preliminary conceptual scale for the measurement of distributed manufacturing (DM) capacity of manufacturing companies operating in rubber and plastic sectors.

Design/methodology/approach

A two-step research methodology is employed. In first step, the dimensions of DM and different levels of each dimension have been defined. In second step, an empirical analysis (cluster analysis) of database firms is performed by collecting the data of 38 firms operating in Italian mould manufacturing sector. Application case studies are then analyzed to show the use of the proposed DM conceptual scale.

Findings

A hyperspace, composed of five dimensions of DM, i.e. manufacturing localization; manufacturing technologies; customization and personalization; digitalization; and democratization of design, is developed and a hierarchy is defined by listing the levels of each dimension in an ascending order. Based on this hyperspace, a conceptual scale is proposed to measure the positioning of a generic company in the DM continuum.

Research limitations/implications

The empirical data are collected from Italian mould manufacturing companies operating in rubber and plastic sectors. It cannot be assumed that the industrial sectors in different parts of the world are operating under similar operational, regulatory and economic conditions. The results, therefore, might not be generalized to manufacturing companies operating in different countries (particularly developing countries) under different circumstances.

Originality/value

This is first preliminary scale of its kind to evaluate the positioning of companies with respect to their DM capacity. This scale is helpful for companies to compare their capacity with standard profiles and for decision making to convert the existing manufacturing operations into distributed operations.
Impact of board characteristics on firm dividends: evidence from India
Authors: Sanan Neeti Khetarpal
Published: September 2019

Purpose

This study examined the impact of board size, independence and gender diversity on firm dividend payout. Furthermore, it examined whether the board characteristic–dividend payout relationship was moderated by free cash flows in the firm.

Design/methodology/approach

A total of 118 Indian firms representing multiple industries were examined for a period of four financial years from 2013 to 2016. The data are in panel form given the cross-sectional and time series nature of the study. Random effects specification was used for analysis

Findings

Results of the study indicated that the proportion of independent directors and proportion of female directors on the board have a negative and significant effect on dividend payout. In addition, the results showed a negative and significant moderating role of free cash flows, which implied that the magnitude of the impact of the proportion of independent directors and the proportion of female directors on the board on dividend payout is significantly greater in firms with high free cash flows. Overall, the results suggested that firms whose board characteristics signaled strong governance paid lower dividends.

Originality/value

This study contributes to a nuanced understanding of internal governance mechanisms by presenting evidence of the substitution hypothesis from an emerging economy, one in which firms operate within a unique regulatory framework of board composition.
Efficient and stable generalized auxiliary differential equation FDTD implementation of graphene dispersion
Authors: Ramadan Omar
Published: September 2019

Purpose

The purpose of this paper is to present efficient and stable generalized auxiliary differential equation finite difference time domain (G-ADE-FDTD) implementation of graphene dispersion.

Design/methodology/approach

A generalized dispersive model is used for describing the graphene’s intraband and interband conductivities in the terahertz and infrared frequencies. In addition, the von Neumann method combined with the Routh-Hurwitz criterion are used for studying the stability of the given implementation.

Findings

The presented G-ADE-FDTD implementation allows modeling graphene’s dispersion using the minimal number of additional auxiliary variables, which will reduce both the CPU time and memory storage requirements. In addition, the stability of the implementation retains the standard non-dispersive Courant–Friedrichs–Lewy (CFL) constraint.

Practical implications

The given implementation is conveniently applicable for most commonly used dispersive models, such as Debye, Lorentz, complex-conjugate pole residue, etc.

Originality/value

The presented G-ADE-FDTD implementation not only unifies the implementation of both graphene’s intraband and interband conductivities, with the minimal computational requirements but also retains the standard non-dispersive CFL time step stability constraint.
Comparison of 8/6 radial and axial flux switched reluctance machines
Authors: Aydoun Racha , Parent Guillaume , Tounzi Mounaim , Lecointe Jean-Philippe , Komeza Krzysztof
Published: September 2019

Purpose

This paper aims to deal with a performance comparison of an 8/6 radial-flux switched reluctance machine (RFSRM) and an axial-flux switched reluctance machine (AFSRM), presenting equivalent active surfaces.

Design/methodology/approach

An axial machine was designed based on the equivalent active surfaces of a radial one. After estimating the machine inductances with a reluctance network, finite elements numerical models have been implemented for a more precise inductance determination and to estimate the electromagnetic torque for both machines. Finally, the AFSRM was thoroughly examined by analyzing the impact of some geometric parameters on its performance.

Findings

The comparison of the RFSRM and AFSRM at equivalent active surfaces showed that the obtained axial machine is more compact along with an improvement in the electromagnetic torque.

Practical implications

The equivalent AFSRM is more compact, therefore more interesting for transport and on-board applications.

Originality/value

The RFSRM and AFSRM performance comparison using the same active surfaces has not been done. Moreover, the AFSRM presented has a rare design with no rotor yoke and where the rotor teeth are encapsulated in a nonmagnetic structure, allowing a more compact design.
South African community in Auckland
Authors: Odiase Osamuede , Wilkinson Suzanne , Neef Andreas
Published: September 2019

Purpose

The purpose of this paper is to investigate the resilience of the South African community in Auckland to a potential hazard event.

Design/methodology/approach

The research collected data from both primary and secondary sources. The research used parametric and non-parametric analytical procedures for quantitative data and a general inductive approach to qualitative data analysis and a three-step coding cycle for interviews. A content analytical process of theme formation was used to analyse secondary materials. The research discussed findings in line with related studies on community resilience.

Findings

The aggregate community resilience index was above average on the scale of 1–5. The highest and lowest contributions to the resilience of the South African community came from communication and information and physical capacities of the community. Although the highest contribution came from the communication domain, there is a need to sensitise the community on the importance of real-time information for resilience. Community ability to respond as a first responder and to access diverse sources was low because of a lack of interest in disaster risk reduction activities and membership of associations. Intervention in the economic domain and affordable housing is needed to assist low-income earners in coping with a potential disaster and enhance future resilience.

Research limitations/implications

The practical resilience of the community is limited to the time of this research. The state of resilience might change in longitudinal research due to changes in resources and ecosystem. The research did not consider institutional and natural domains because its focus was to predict resilience at the individual level.

Practical implications

At-risk societies could enhance their resilience through a periodic audit into its resources, identify indicators of low resilience and carry out interventions to address potential vulnerabilities. Besides the importance of resource in resilience, the research illuminates the need to address the question of who is resilient and resources distribution in the community. The issues are imperative in community resilience as they underpinned the personal ability to preparedness, response and recover from a disaster.

Originality/value

Although the research provides insight into the resilience of the South African community, it constitutes preliminary research towards a further understanding of the resilience of the South African community in Auckland.
PPP projects: improvements in stakeholder management
Authors: Amadi Chika , Carrillo Pat , Tuuli Martin
Published: September 2019

Purpose

The implementation of public–private partnerships (PPPs), particularly in low- and middle-income countries, has been hampered by external stakeholders’ opposition leading to the failure of several projects. The purpose of this paper is to develop a framework to improve external stakeholder management in PPP projects.

Design/methodology/approach

Two case studies consisting of 23 interviews with a wide range of internal and external stakeholders were employed. This was supplemented with a focus group approach to validate the framework.

Findings

A new framework for the management of external stakeholders is developed. It encompasses new features such as the dynamic identification of stakeholders at each project phase and their corresponding interests.

Research limitations/implications

The scope is road transportation projects in Nigeria and thus the recommendations may not be globally applicable.

Practical implications

The findings can help the public sector and their agencies to manage external stakeholders and maintain successful relationships on PPP projects.

Originality/value

The paper contributes to existing knowledge in four key areas: it confirms that the skill and actions of internal stakeholders are vital to the stakeholder management process; it shows that one-off stakeholder identification proposed in literature is a flawed approach; it proposes that the identification of external stakeholders’ interests be dynamic; and it adds the perspective of low- and middle-income countries in stakeholder management in PPP projects.
Reflective approach to improve self-adaptation of Web service compositions with autonomic middleware
Authors: Cherif Sihem , Djemaa Raoudha Ben , Amous Ikram
Published: September 2019

Purpose

This paper aims to propose an approach for the self-adaptation of the Web composition called SAMIWA. The SAMIWA framework helps users during the search, invocation and composition of the appropriate Web service.

Design/methodology/approach

The authors’ approach allows expressing requirements by taking into account potential users’ context in addition to the functional one.

Findings

In this paper, the authors introduce a new context-aware approach that provides a dynamic adaptation of service compositions.

Originality/value

The author has implemented a Web application that enables selection and composition of the most appropriate composite service.
Dana Gas Sukuk default: a juristic analysis of court judgement
Authors: Busari Saheed Abdullahi , AbdulAziz Akhtarzaite , Zakariyah Luqman , Amanullah Muhammad
Published: September 2019

Purpose

This study aims to analyse the facts of the case in the judgement made by the High Court of Justice, England, UK, in the case of Dana Gas Public Joint Stock Company (PJSC) v. Dana Gas Sukuk Limited (Ltd.) and Ors.

Design/methodology/approach

This study uses descriptive and juristic analysis to explain the factual terms in the case of Dana Gas sukuk default. It also uses juristic opinions to analyse the underpinning argument in the Dana Gas court case between the decision of Sharjah Court, UAE, and the English Court, UK.

Findings

The study concluded that despite the position of Dana Gas PJSC that specific element of the muḍārabah sukuk is non-Sharī’ah-compliant, the English court decision which established the enforceability of the purchase undertaking seems to be fair based on the Islamic maxims such as “Difficult situation cannot violate the right of other” and “The conditional matters among Muslims are binding.”

Research limitations/implications

The impact of this study is that Dana Gas sukuk default has thought stakeholders of Sukuk investment lessons on the importance of documentation and consideration of tighter clauses to ensure its bindingness in the law court. Hence, this study is expected to be a contribution towards the call for standardization of the role of Sharī’ah scholars across the globe.

Originality/value

This study illustrates the fact in the case of Dana Gas sukuk default and analyses the court’s decision from a fiqh perspective.
Corporate social responsibility, firm performance and tax risk
Authors: Lin Xiaojun , Liu Ming , So Simon , Yuen Desmond
Published: September 2019

Purpose

The purpose of this study is to investigate whether corporate social responsibility (CSR) can lower tax risk. Previous studies have demonstrated a negative link between CSR and tax aggressiveness. Generally, corporations engaging in social irresponsibility tend to undertake aggressive tax planning; whereas socially responsible firms enjoy tax savings. Because several recent studies have suggested that lower tax payments do not necessarily create higher tax risk, an exploration of the relationship between CSR and tax risk was not only interesting but also important.

Design/methodology/approach

Using an ethical perspective of CSR, this paper argues that executives who are nourished by an ethical climate tend to make responsible and reliable operating decisions. Therefore, their corporations would have better control of tax administration, and the corresponding tax risk would be constrained. Such corporations would enjoy greater tax savings while keeping their tax risk at relatively low levels. However, this reasoning ignores the fact that limited economic resources would constrain a firm from practicing CSR in the form of donations. This situation would also influence its attitude toward tax strategies. Specifically, when a firm’s performance is unsatisfactory, the cultural effect of CSR may diminish or even disappear.

Findings

Firms donating additional resources to CSR activities can construct a more ethical work climate that encourages executives to control tax risk while lowering tax expenses. For firms with unsatisfactory performance, the ethical benefits of CSR could disappear, thus suggesting a relationship with firm performance. This finding contributes to the knowledge on the ethical implications of CSR and proposes that the culture argument is conditional on satisfactory firm performance.

Originality/value

This study explores the association between corporate culture (CSR) and tax risk. The empirical results help shareholders, analysts and other investors to make their business decision better because CSR or corporate culture is less likely to change suddenly or dramatically in an abbreviated time. The finding of this study shed light on the importance of corporate culture on making an investment evaluation or decision. In addition, this study extends the research on CSR by demonstrating that the effects of CSR are conditioned on firm performance. The beneficial effect of CSR on tax risk would disappear when firms have unfavorable financial performance.
Curriculum reduction, cognitive load and understanding of core principles
Authors: Miller Taryn
Published: September 2019

Purpose

The purpose of this study is to investigate whether the recent reduction in the volume and complexity of the financial accounting curriculum, which is examinable as part of the qualification process of chartered accountants in South Africa, has resulted in improvements in students’ understanding of core accounting concepts. The reasons for the curriculum reduction are to encourage life-long learning, reduce syllabus overload and focus on core principles.

Design/methodology/approach

A sample of 514 students completed an assessment designed to test core concepts. Approximately half the students had been exposed to the previous, larger and more complex curriculum; the other half had only been exposed to the reduced, simpler ‘core’ curriculum.

Findings

Although the assessment results of the two cohorts were not significantly different, the latter cohort made significantly less conceptual errors than the former cohort, even though the latter cohort was relatively novice. This finding supports the hypothesis that the reduced curriculum assists students’ understanding of core concepts. Furthermore, it aligns with Cognitive Load Theory (CLT) in that the reduction in examinable content reduces intrinsic load within cognitive load, thereby optimising student learning, as measured by assessment results and error rates.

Originality/value

The findings of this study have relevance for professional accounting bodies responsible for approving curriculum; accounting and other academics interested in the consequences of curriculum reduction on student learning and researchers applying CLT across other disciplines, specifically focussed on the relationship between intrinsic load and learning efficiency.
The innovative mechanism of government support for the investment activities of digital universities for provision of region’s investment attractiveness in the conditions of Industry 4.0
Authors: Grabar Anna A. , Koykova Tatiana L. , Prokopenko Lyudmila K. , Shchinova Raisa A.
Published: September 2019

Purpose

The purpose of this study is to substantiate the necessity and to develop the innovative mechanism of government support for the investment activities of digital universities for provision of region’s investment attractiveness in the conditions of Industry 4.0.

Design/methodology/approach

The authors use the method of regression analysis for determining the dependence of the aggregate volume of investments (internal and external), which are attracted into the regional economy, on the volume of investments into fixed capital in the sphere of education (as the indicator of investment activities in the sphere of digital education) by the example of the regions of the Volga Federal District of the Russian Federation in 2018.

Findings

It is substantiated that the modern Russian mechanism of government support for investment activities of universities (including digital), which is based on such tools as norming and standardization, tax preferences and co-financing, does not allow for full implementation of the existing potential of digital universities in increasing region’s investment attractiveness in the conditions of Industry 4.0, which reduces the investment rating and volume of attracted investment resources in the regional economy – as is shown by the example of the regions of the Volga Federal District of the Russian Federation.

Originality/value

The determined problem could be solved by the presented innovative mechanism of government support for the investment activities of digital universities for provision of region’s investment attractiveness in the conditions of Industry 4.0. It is implemented on the basis of new – for modern Russia – tools: information and consultation support for investment activities and institutional support for integrating digital universities for joint realization of the investment projects in a region. The advantage of the developed mechanism is transfer of the financial load and responsibility for the investment activities from the state to digital universities because of the creation of market stimuli for conducting these activities.
Police officers’ role orientations
Authors: Gau Jacinta M. , Paul Nicholas D.
Published: September 2019

Purpose

The purpose of this paper is to examine police officers’ attitudes toward community policing and order maintenance, as well as the facets of the work environment that impact those attitudes.

Design/methodology/approach

Survey data come from a sample of officers in a mid-sized police department. Ordinary least squares regression modeling is used to examine community-policing, order-maintenance and law-enforcement role orientations.

Findings

Officers endorse community partnerships, but are less enthusiastic about order maintenance. They also display mid-level support for traditional law enforcement. Work–environment variables have inconsistent impacts across the three role orientations.

Research limitations/implications

This was a survey of attitudes in one department. Future research should examine officers’ involvement in community-policing and order-maintenance activities and any impediments to such activities.

Practical implications

The findings have implications for police leaders seeking to implement community policing and ensure street-level officers are carrying out partnership and order-maintenance activities. In particular, top management must foster a positive work environment and personally model commitment to policing innovations.

Originality/value

This paper adds to the currently sparse body of literature on officer attitudes toward community policing and order maintenance, and incorporates traditional law-enforcement attitudes as a point of contrast. This paper advances the scholarly understanding of police officers’ role orientations.
A new approach to forecast market interest rates through the CIR model
Authors: Orlando Giuseppe , Mininni Rosa Maria , Bufalo Michele
Published: September 2019

Purpose

The purpose of this study is to suggest a new framework that we call the CIR#, which allows forecasting interest rates from observed financial market data even when rates are negative. In doing so, we have the objective is to maintain the market volatility structure as well as the analytical tractability of the original CIR model.

Design/methodology/approach

The novelty of the proposed methodology consists in using the CIR model to forecast the evolution of interest rates by an appropriate partitioning of the data sample and calibration. The latter is performed by replacing the standard Brownian motion process in the random term of the model with normally distributed standardized residuals of the “optimal” autoregressive integrated moving average (ARIMA) model.

Findings

The suggested model is quite powerful for the following reasons. First, the historical market data sample is partitioned into sub-groups to capture all the statistically significant changes of variance in the interest rates. An appropriate translation of market rates to positive values was included in the procedure to overcome the issue of negative/near-to-zero values. Second, this study has introduced a new way of calibrating the CIR model parameters to each sub-group partitioning the actual historical data. The standard Brownian motion process in the random part of the model is replaced with normally distributed standardized residuals of the “optimal” ARIMA model suitably chosen for each sub-group. As a result, exact CIR fitted values to the observed market data are calculated and the computational cost of the numerical procedure is considerably reduced. Third, this work shows that the CIR model is efficient and able to follow very closely the structure of market interest rates (especially for short maturities that, notoriously, are very difficult to handle) and to predict future interest rates better than the original CIR model. As a measure of goodness of fit, this study obtained high values of the statistics R2 and small values of the root of the mean square error for each sub-group and the entire data sample.

Research limitations/implications

A limitation is related to the specific dataset as we are examining the period around the 2008 financial crisis for about 5 years and by using monthly data. Future research will show the predictive power of the model by extending the dataset in terms of frequency and size.

Practical implications

Improved ability to model/forecast interest rates.

Originality/value

The original value consists in turning the CIR from modeling instantaneous spot rates to forecasting any rate of the yield curve.
Targeting Aid for Trade for Impactful Capacity‐Building in the Least Developed Countries
Authors: Adhikari Ratnakar
Published: September 2019

For the least developed countries (LDCs) facing supply‐side constraints, the SDGs target of doubling the share of their global exports by 2020 is a chimera. Various mechanisms have been put in place to help LDCs to enhance their trade capacity, of which WTO Aid for Trade (AfT) is a notable one. Although the Enhanced Integrated Framework (EIF) pre‐dates the AFT initiative, the EIF's focus on evidence based needs assessment, institutional and policy support and productive capacity building support have helped a number of LDCs overcome their binding constraints to trade expansion. Besides, country ownership principle, partnership approach and targeted nature of AfT support means that the chances of achieving success is much higher than other development interventions.
Trade Finance Gaps in a Heightened Regulatory Environment: The Role of Development Banks
Authors: Henderson Jennifer , Smallridge Diana
Published: September 2019

Trade is a fundamental human activity. However, the past decade has been characterised by increasing regulation and protectionism. This paper explores the role of development banks as trade finance policy tools in responding to regulation‐induced market failures. Towards this end, it discusses the impact of recent trends in banking regulation on small and medium enterprises (SMEs), financial institutions, and emerging economies.
Open Markets as a Source of Prosperity – Evidence of the Federal State of Baden‐Wuerttemberg
Authors: Hinz Stefanie
Published: September 2019

Baden‐Wuerttemberg's economy is characterized by a close combination of highly specialized R&D‐intensive industry and business related services, with the manufacturing sector generating a significantly higher share of value added than the average of the federal states (Länder). Over the long‐term trend, these structural framework conditions have generated above‐average GDP growth rates and also per capita income. Another peculiarity ist that economic output is generated relatively even within the regions of the federal state (Land). This economic model requires low transaction costs in the broadest sense to serve a large relevant market. For this reason unhindered access to international markets is a necessary prerequisite for prosperity. However, there must be a certain competitive and innovation advantage. Maintaining the competitiveness and innovation capacity of the location is a permanent task for economic policy.
Lifelong choline supplementation ameliorates Alzheimer’s disease pathology and associated cognitive deficits by attenuating microglia activation
Authors: Velazquez Ramon , Ferreira Eric , Knowles Sara , Fux Chaya , Rodin Alexis , Winslow Wendy , Oddo Salvatore
Published: September 2019

Currently, there are no effective therapies to ameliorate the pathological progression of Alzheimer's disease (AD). Evidence suggests that environmental factors may contribute to AD. Notably, dietary nutrients are suggested to play a key role in mediating mechanisms associated with brain function. Choline is a B‐like vitamin nutrient found in common foods that is important in various cell functions. It serves as a methyl donor and as a precursor for production of cell membranes. Choline is also the precursor for acetylcholine, a neurotransmitter which activates the alpha7 nicotinic acetylcholine receptor (α7nAchR), and also acts as an agonist for the Sigma‐1 R (σ1R). These receptors regulate CNS immune response, and their dysregulation contributes to AD pathogenesis. Here, we tested whether dietary choline supplementation throughout life reduces AD‐like pathology and rescues memory deficits in the APP/PS1 mouse model of AD. We exposed female APP/PS1 and NonTg mice to either a control choline (1.1 g/kg choline chloride) or a choline‐supplemented diet (5.0 g/kg choline chloride) from 2.5 to 10 months of age. Mice were tested in the Morris water maze to assess spatial memory followed by neuropathological evaluation. Lifelong choline supplementation significantly reduced amyloid‐β plaque load and improved spatial memory in APP/PS1 mice. Mechanistically, these changes were linked to a decrease of the amyloidogenic processing of APP, reductions in disease‐associated microglial activation, and a downregulation of the α7nAch and σ1 receptors. Our results demonstrate that lifelong choline supplementation produces profound benefits and suggest that simply modifying diet throughout life may reduce AD pathology.
Cannabis use in early adulthood is prospectively associated with prescriptions of antipsychotics, mood stabilizers, and antidepressants
Authors: Rognli Eline Borger , Bramness Jørgen Gustav , von Soest Tilmann
Published: September 2019

Objective

Cannabis is an acknowledged risk factor for some mental disorders, but for others the evidence is inconclusive. Prescribed medicinal drugs can be used as proxies for mental disorders. In this study, we investigate how use of cannabis is prospectively related to prescription of antipsychotics, mood stabilizers, antidepressants, and anxiolytics.

Methods

Data on cannabis exposure and relevant confounders were obtained from 2,602 individuals in the longitudinal Young in Norway Study, providing survey data from four data collection waves between 1992 and 2006. Data were coupled with information about prescriptions for psychotropic drugs from the Norwegian Prescription Database between 2007 and 2015.

Results

Past year cannabis use increased the risk of prescription of antipsychotics (OR = 5.56, 95 % CI 1.64 – 18.87), mood stabilizers (OR = 5.36, 95 % CI 1.99 – 14.44) and antidepressants (OR = 2.10, 95 % CI 1.36 – 3.25), after accounting for sociodemographic variables, conduct problems, additional drug use, mental distress, and prescriptions the year before cannabis use was measured.

Conclusions

In this study of young adults from the general population, past year cannabis use was associated with later prescriptions of antipsychotics, mood stabilizers, and antidepressants.
Opportunities and challenges in using weather radar for detecting and monitoring flying animals in the Southern Hemisphere
Authors: Rogers Rebecca M. , Buler Jeffrey J. , Wainwright Charlotte E. , Campbell Hamish A.
Published: September 2019

Operational weather surveillance radars (WSRs) are permanent radars that constantly detect precipitation at regular intervals (approx. every 4–10 min) for the purpose of weather reporting and are often part of a larger network of radars. Ecological studies using WSR to detect flying animals within the airspace have been on the rise since the early 2000s. However, the vast majority of published ecological studies (>300) have occurred in the Northern Hemisphere with only two published studies occurring in the Southern Hemisphere, both on insects. The lag in uptake of the technique in the Southern hemisphere is likely due to limited WSR coverage and the challenges of data acquisition and interpretation. However, we argue that WSRs are numerous enough in the Southern Hemisphere to offer equal opportunity to understand the movement of flying animals there. Here, we explore why that might be and present a road map so that ecological researchers in the Southern Hemisphere may take advantage of this valuable data resource.