Emerging Markets Economics: Firm Behavior & Microeconomic Issues eJournal最新文献

{"title":"Taxation in the Cyber Age: The Future of Wayfair","authors":"Hasmik Hmayakyan","doi":"10.2139/ssrn.3456306","DOIUrl":"https://doi.org/10.2139/ssrn.3456306","url":null,"abstract":"This Comment aims to act as a guiding source for potential issues that will arise from South Dakota v. Wayfair, which was decided in June 2018. The Wayfair decision changed the long-held requirement that states can only collect sales taxes from sellers that have a physical presence within the state. \u0000 \u0000Under Complete Auto Transit, Inc. v. Brady, the Supreme Court put forth a test that states must meet if they wish to collect a sales tax from sellers. One of the prongs of this test allows a state to collect a sales tax from a seller if the seller has created a substantial nexus within the state. Under Quill Corp. v. North Dakota, a substantial nexus was defined as a physical presence. This physical presence requirement meant out-of-state sellers, such as online retailers, were not required to pay a sales tax to states where they sold their products, since these sellers did not have a physical presence within the state. \u0000 \u0000For years, states attempted to circumvent the physical presence requirement under Quill but were unable to do so successfully. In June 2018, the Supreme Court in South Dakota v. Wayfair held that a seller does not need a physical presence within a state in order for a state to require the seller to pay a sales tax. The Court considered three factors: South Dakota's substantial nexus requirement, which stated an out-of-state seller creates a nexus with South Dakota if they have made at least $100,000 in sales or 200 transactions with consumers in South Dakota; South Dakota is part of the Streamlined Sales and Use Tax Agreement (SSUTA), which streamlines the process of sales tax collection; and the Court's decision would not apply retroactively to past transactions. \u0000 \u0000The Court's opinion applied specifically to the laws in place in South Dakota. Since the opinion in Wayfair was specific to South Dakota, states started enacting their own legislation similar to South Dakota's so that they can start charging a sales tax on out-of-state sellers as well. \u0000 \u0000Congress can remain silent on the issue in order to allow the states to continue to act as they deem fit. Alternatively, since each state has set its own requirements, Congress can step in and set a uniform system of requirements for states to meet in order to collect sales taxes. Congress has the constitutional authority to act under the Commerce Clause to create a uniform system of taxation. A uniform system will provide states and sellers with guidance on how to proceed in light of the Wayfair decision. \u0000 \u0000This Comment argues that Congress should enact a statute to create a uniform system of taxation. The uniform system will include a definition of what constitutes a good (products purchased from online retailers) and what constitutes a service (online streaming services). Additionally, the uniform system will create a minimum substantial nexus requirement, preferably by adopting the requirement that South Dakota has in place. The uniform system will also require states who wish ","PeriodicalId":236490,"journal":{"name":"Emerging Markets Economics: Firm Behavior & Microeconomic Issues eJournal","volume":"37 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-05-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123732049","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Future of Gaming and Sport: The Rise of the E-sports Industry in China","authors":"Ashley Otu","doi":"10.2139/ssrn.3623528","DOIUrl":"https://doi.org/10.2139/ssrn.3623528","url":null,"abstract":"This paper examines the recent trend in relation to the rise of e-sports in China. Firstly, the rise of the industry from past to present is explored, assessing how factors such as certain government policies and technology greatly shaped the industry. A Macro-micro approach underpins the main theoretical framework of this paper. Secondly, the paper, includes primary research through an online survey featuring 10 questions with a target sample of 50 random people. This is done in combination with data and statistics from secondary research to compare and contrast and to identify similar patterns of Chinese e-sports fans (micro-analysis). <br><br>Having explored the history of the rise of e-sports in China, this research highlights how on the macro level (political economy) – government policies, social, cultural and economic factors greatly contributed to the establishment of the e-sport industry in China. In addition, on the micro level, the results from 75 respondents of the online survey, combined with secondary data and statistics, reveal eight similar patterns amongst Chinese esports fans. These include their behaviour, experiences and their engagement in e-sports activity. They are evidence of general aspects about how and why the e-sports industry is currently thriving in China both locally and nationally. <br>","PeriodicalId":236490,"journal":{"name":"Emerging Markets Economics: Firm Behavior & Microeconomic Issues eJournal","volume":"127 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-05-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"117196046","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Do China's People Favour Redistribution? Evidence from an Incentivized Experiment","authors":"Tai-Sen He, L. Putterman, Liangjun Wang","doi":"10.1111/1468-0106.12289","DOIUrl":"https://doi.org/10.1111/1468-0106.12289","url":null,"abstract":"From 1949, China's leaders brought their country through three decades of income and wealth compression, which was followed by more than three decades of sharply rising inequality. What preferences do China's people hold regarding what price (if any) is worth paying for greater equality? We conduct a laboratory decision‐making experiment mimicking aspects of a macro‐political–economic environment, using Chinese undergraduate student subjects. We find that our subjects have qualitatively similar tastes for equality as their counterparts in parallel US and European experiments; for example, most are willing to sacrifice some payment for more equality of earnings among other participants, and their willingness to do this is stronger when inequalities originate randomly versus based on performance. Considering the cases permitting direct comparison between Chinese and US subjects’ choices, redistributive choices tend to be a bit higher in China if the participant pays no direct cost and a bit lower if he or she pays such a cost, but the two distributions of decisions differ significantly in under 14% of conditions. Survey data too suggests preferences for a more equal income distribution in China than in other East Asian countries, suggesting a possible impact of the Chinese Communist Party dominance in education and media.","PeriodicalId":236490,"journal":{"name":"Emerging Markets Economics: Firm Behavior & Microeconomic Issues eJournal","volume":"50 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134282764","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"How Fast Can China Grow? The Middle Kingdom's Prospects to 2030","authors":"Jeannine N. Bailliu, Mark H. Kruger, Argyn Toktamyssov, Wheaton Welbourn","doi":"10.1111/1468-0106.12240","DOIUrl":"https://doi.org/10.1111/1468-0106.12240","url":null,"abstract":"Given its size and importance for global commodity markets, the question of how fast the Chinese economy can grow over the medium term is an important one. This paper addresses this question by examining the evolution of the supply side of the Chinese economy over history and projecting how it will evolve over the next 15 years. Using a Cobb-Douglas production function, we decompose the growth of trend GDP into those of the capital stock, labour, human capital and total factor productivity (TFP) and then forecast trend output growth out to 2030 using a bottom-up approach based on forecasts that we build for each one of these factors. Our paper distinguishes itself from existing work in that we construct a forecast of Chinese TFP growth based on the aggregation of forecasts of its key determinants. Moreover, our analysis is based on a carefully constructed estimate of the Chinese productive capital stock and a measure of human capital – based on Chinese wage survey data – that better reflects the returns to education in China. Our results suggest that Chinese trend output growth will decelerate from around 7% currently to about 5% by 2030, and are consistent with a gradual rebalancing of the Chinese economy characterized by a decline in the investment rate.","PeriodicalId":236490,"journal":{"name":"Emerging Markets Economics: Firm Behavior & Microeconomic Issues eJournal","volume":"22 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128338088","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Carbon Emissions, Firm Size, and Corporate Governance Structure: Evidence from the Mining and Agricultural Industries in Indonesia","authors":"M. Nasih, I. Harymawan, Y. I. Paramitasari, Azizah Handayani","doi":"10.3390/SU11092483","DOIUrl":"https://doi.org/10.3390/SU11092483","url":null,"abstract":"The purpose of this research was to examine the relationship between firm size, corporate governance, and carbon emission disclosure (CED) in Indonesia, a country with rich natural resources. This study focused on the mining and agricultural industries to better capture the disclosure behavior of companies directly engaged in natural resources. Using a sample of 305 firm-year observations of listed firms in Indonesia spanning from 2011 to 2016, the results show that larger firms and firms with larger board sizes are more likely to have higher disclosure on CED. We also showed that firms with a higher percentage of independent commissioners and directors are less likely to disclose information related to carbon emissions. These findings indicate that a greater number of commissioners and directors sitting on the board will stimulate a firm’s decision to make a higher number of disclosures related to carbon emissions. However, the increased percentage of independent commissioners and directors will cause more conservative disclosure outcomes to the firms. In addition, firms in the mining industry are more likely to have a higher level of CED relative to firms in the agricultural industry. These findings remained robust even after we corrected the standard errors.","PeriodicalId":236490,"journal":{"name":"Emerging Markets Economics: Firm Behavior & Microeconomic Issues eJournal","volume":"67 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-04-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134640385","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Small Business Sector in Urban America: Growth and Vitality in 25 Cities","authors":"Diana Farrell, Chris Wheat","doi":"10.2139/ssrn.3431222","DOIUrl":"https://doi.org/10.2139/ssrn.3431222","url":null,"abstract":"Small businesses are one of the pillars of urban economies, making substantial contributions to economic growth and dynamism. However, the fragility of the small business sector is an ongoing challenge that limits how much it contributes to economic growth in cities. Understanding the drivers of growth and failure in the small business sector — and the variation of these drivers across cities — is critical to the development of policies that promote small business survival and growth. The JPMorgan Chase Institute leveraged high-frequency, de-identified financial data from a sample of 290,000 small operating businesses to identify differences and similarities in small business financial outcomes across 25 US cities. This report provides a lens into the composition and contributions of different types of firms to aggregate revenue growth and exit rates of the small business sector. Our findings are fourfold. First, new firms account for most of the revenue growth in the small business sector, but their contributions to growth vary widely by city. Among new small businesses, five percent of firms account for nearly all aggregate revenue growth across cities, and these usually grow organically. Additionally, while revenue growth rates vary substantially by industry across cities, small firms in construction, other professional services, health care services and high-tech services drive aggregate growth in most cities. Across cities, retail and other professional services drive small business exits. These findings suggest that both local and national policymakers interested in the financial health of the small business sector might benefit from paying closer attention to themes that are similar across cities, and important differences between cities.","PeriodicalId":236490,"journal":{"name":"Emerging Markets Economics: Firm Behavior & Microeconomic Issues eJournal","volume":"99 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-04-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122039059","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Board Attributes and Corporate Performance: Evidence from Nonfinancial Firms in Nigeria","authors":"N. Emeka-Nwokeji","doi":"10.31014/AIOR.1992.02.02.80","DOIUrl":"https://doi.org/10.31014/AIOR.1992.02.02.80","url":null,"abstract":"Corporate board is pressured from all stakeholders for better reporting on corporate health. Meanwhile, effective discharge of the responsibilities of a corporate board is assured by an appropriate balance of skills and diversity without compromising competence, independence, and integrity. This study examines the extent to which corporate board attributes drive the performance of non-financial firms in Nigeria. The study adopted ex post facto research design. Data were extracted through content analysis from the annual report of 93 out of 122 non-financial firms listed on the Nigerian Stock Exchange from 2006 to 2015. Collected data were analysed with pooled ordinary least square regression conducting diagnostic tests to confirm the assumptions of the regression. Analysis revealed that: Board size and board gender diversity have a positive and significant effect on corporate performance. While board independence and board remuneration have a negative and significant effect on corporate performance. Also, directors' shareholding has a negative but insignificant effect on corporate performance. Based on the findings, the study among other things recommends that companies in Nigeria should promote diversity in its membership across a variety of attributes particularly gender diversity considering that it is relevant for enhancing firm performance. Also, Company should remunerate fairly, responsibly and transparently so as to reduce the decreasing effect of board remuneration and promote positive outcomes in the short, medium and long term.","PeriodicalId":236490,"journal":{"name":"Emerging Markets Economics: Firm Behavior & Microeconomic Issues eJournal","volume":"14 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-04-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128522898","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Effects of the Appointment of Independent Directors Professionally Affiliated with Their Predecessors: Evidence from China","authors":"Yanlin Li, G. Tian, Xin Wang","doi":"10.2139/ssrn.3363352","DOIUrl":"https://doi.org/10.2139/ssrn.3363352","url":null,"abstract":"The function of independent directors has been extensively documented, but the general question of how they are appointed remains insufficiently explored. We find that the likelihood of the appointment of candidates is higher when those candidates are professionally affiliated with departing independent directors, and this is more pronounced when there are personal ties between predecessors and insiders, an entirely compliant record of voting on the part of candidates or predecessors, and particularly in firms with higher-concentrated ownership and that are located in areas with a weak market environment. Moreover, the appointment of independent directors affiliated with their predecessors results in fewer dissenting votes, more related-party transactions, and a higher incidence and greater severity of violations. Our research shows that predecessor–candidate affiliation helps construct a reciprocity norm between successors and insiders, leading to weak board independence.","PeriodicalId":236490,"journal":{"name":"Emerging Markets Economics: Firm Behavior & Microeconomic Issues eJournal","volume":"2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-03-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114557187","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Relationship Between Managerial Ownership and Earnings Management - Evidence from Mongolian Listed Firms","authors":"Narantsetseg Amarsanaa","doi":"10.2139/ssrn.3360342","DOIUrl":"https://doi.org/10.2139/ssrn.3360342","url":null,"abstract":"The purpose of this study is to examine the relationship between managerial ownership and earnings management of listed Mongolian firms in 2009-2015. Most of the Mongolian enterprises were state-owned and state-controlled until the transition to free market economy. The stock exchange was established by privatizing those state-owned companies and was created managerial owners. Proxy of earnings management is defined by discretionary accruals. The managerial ownership is measured as the percentage of shareholder's shares directly or indirectly held by manager. A total of 122 Mongolian listed firms are chosen as a study sample and found that managerial ownership is negatively and significantly related to earnings management. This result is almost similar with previous literatures.","PeriodicalId":236490,"journal":{"name":"Emerging Markets Economics: Firm Behavior & Microeconomic Issues eJournal","volume":"96 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-03-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130489843","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Comparative Analysis of Intellectual Capital (IC) Disclosure: An Institutional Logics Perspective","authors":"Dewan Azmal Hossain","doi":"10.2139/ssrn.3714431","DOIUrl":"https://doi.org/10.2139/ssrn.3714431","url":null,"abstract":"Purpose – This study intends to do a comparative analysis of intellectual capital disclosure among all the listed traditional conventional banks, conventional banks with Islamic windows, and sharia-based Islamic banks of Bangladesh. This study explains how various internal factors, external factors, and institutional logics lead to the differences in intellectual capital disclosure among these three streams of banks currently existing in Bangladesh.<br><br>Design/methodology/approach – Content analysis is carried out for the period of 2014-2018. The annual reports of 30 listed banks of the Dhaka Stock Exchange (DSE) are analyzed. The research framework includes 28 variables. Both the proportionate frequency and sentences are counted to understand the depth, nature, and volume of the disclosure.<br><br>Findings –It is found that conventional banks disclosed more intellectual capital information in the annual reports compared to the other two streams of banks for the last five years. Based on the category-wise comparison, it is found that Islamic banks and conventional banks with Islamic windows disclosed more information on internal capital, and conventional banks disclosed more information on external and human capital. It is also found that among all the conventional banks, a third-generation bank disclosed more intellectual capital information while among all the Islamic banks and conventional banks with Islamic windows the first-generation banks disclosed more intellectual capital information.<br><br>Originality/value – In the context of the banking sector of Bangladesh, a comparative analysis of intellectual capital disclosure has not been undertaken before. This study adds value to the existing IC literature by doing a rigorous comparative analysis and providing reasons from the institutional logics perspective.","PeriodicalId":236490,"journal":{"name":"Emerging Markets Economics: Firm Behavior & Microeconomic Issues eJournal","volume":"22 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-03-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130926883","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}