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Journal articles on the topic 'Funds Transfer Pricing'
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1
Tumasyan, Hovik. "RAPM, funds transfer pricing and risk capital." International Journal of Services Sciences 2, no. 1 (2009): 83. http://dx.doi.org/10.1504/ijssci.2009.021963.
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Ребров, С., and S. Rebrov. "Transfer Pricing System Based on the Method of Cash Flows Redistribution." Scientific Research and Development. Economics of the Firm 8, no. 3 (October 11, 2019): 67–74. http://dx.doi.org/10.12737/article_5d7b57d7b27e93.37859360.
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The article describes the system of transfer pricing based on the method of cash flows redistribution, developed by the author. The article describes such concepts as transfer price, transfer pricing, transfer pricing system. Methodological tools of research: analysis, synthesis, system approach. The author used the method of cash flows redistribution, the description of which is given in this article. The transfer pricing system developed by the author is based on the determination of the transfer price interval on the basis of the transfer pricing methods allowed by tax law, as well as the average value of this interval. This average value can be considered as the average market price, which is determined by the specifics of transfer pricing methods. If there is a deviation from the average market price, there is a redistribution of funds between the subjects of the transaction. For the control of transfer price introduced the coefficient of cash flows redistribution. To manage the transfer pricing system, a matrix of cash flow redistribution coefficients was introduced, as well as the account "redistributed funds". The positive and negative consequences of the introduction of this system of transfer pricing are considered.
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McGowan, Carl B., David Beauregard, and Henry W. Collier. "Transfer Pricing And The Multinational Corporation." Journal of Applied Business Research (JABR) 3, no. 2 (October 31, 2011): 64. http://dx.doi.org/10.19030/jabr.v3i2.6534.
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This paper discusses the three major methods of determining the transfer price for goods traded within a multinational firm the comparable uncontrolled price method, the resale price method, and the cost plus method. In addition to tax considerations, five other factors affecting transfer pricing are discussed foreign government considerations, funds positioning effects, fluctuating foreign currency, foreign import duties, and performance evaluation. Finally, a detailed example of applying the resale price method is provided. Since this is the most difficult method to apply, this example is of particular use to small firms with limited experience in transfer pricing.
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Elliot, Viktor. "Funds Transfer Pricing in Swedish Savings Banks: An Exploratory Survey." Scandinavian Journal of Management 34, no. 3 (September 2018): 289–302. http://dx.doi.org/10.1016/j.scaman.2018.06.006.
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Lubińska, Beata. "BALANCE SHEET SHAPING THROUGH A DECISION MODEL AND FUNDS TRANSFER PRICING." Prace Naukowe Uniwersytetu Ekonomicznego we Wrocławiu, no. 482 (2017): 140–57. http://dx.doi.org/10.15611/pn.2017.482.12.
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Fiedler, Robert, Karl Brown, and James Moloney. "The dynamically projected balance sheet: implications for earnings, value and funds transfer pricing." Balance Sheet 10, no. 2 (June 2002): 17–21. http://dx.doi.org/10.1108/09657960210697643.
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Šuterová, Magdalena. "Institutional Investors in the Czech Voucher Privatisation." DANUBE 11, no. 4 (December 1, 2020): 343–54. http://dx.doi.org/10.2478/danb-2020-0020.
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Abstract Voucher privatisation that proceeded in the Czech Republic in the 1990s was a realisation of a unique experiment which resulted in the transfer of almost half of state-owned enterprises to private hands within two years. A substantial part of these private hands was represented by intermediaries – the investment privatisation funds (IPFs). Their presence in the privatisation is often criticised as the cause of the extensive tunnelling. The aim of the paper is to find out how these funds performed after the privatisation. Using the standard Capital Asset Pricing Model, with OLS parameter estimations, I conclude that the so-called tunnelling was not as extensive, and that the privatisation funds were not as harmful for the privatisation as is believed.
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Gordema, Charles. "Remedies to Illicit Financial Flows from Transfer Pricing of Services and Hosting Intellectual Property in Kenya." Strathmore Law Journal 3, no. 1 (August 1, 2017): 113–30. http://dx.doi.org/10.52907/slj.v3i1.34.
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Numerous reports in the last decade have focused on the challenges to African economies that emanate from the illicit transfers of funds and other valuable assets within some global corporations. A primary concern is the impact of these transfers on the taxable income of African subsidiaries. Two broad categories of intra-group transfers are of particular interest, partly because of the complexities they raise. One comprises transfers in payment of services exchanged among associated enterprises, while the other pertains to transfers by subsidiaries in payment of the value of intellectual assets attributed to the corporate centre of the global corporation. This article highlights the challenges raised by these transfers through case studies. It examines possible mechanisms to mitigate the challenges, drawing attention to current and impending developments. It concludes that there are good prospects for curbing illicit transfers linked to the examined types of transactions.
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Kramarova, Katarina. "Transfer Pricing and Controlled Transactions in Connection with Earnings Management and Tax Avoidance." SHS Web of Conferences 92 (2021): 02031. http://dx.doi.org/10.1051/shsconf/20219202031.
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Research background: The way of pricing intra-group transactions (controlled transactions in the terms of transfer pricing) should be in line with the arm´s length principle, whether we consider nationally or transnationally related business entities. If this is not the case, these operations are a tool for earnings management between the companies. It is known that income tax is perceived by businesses as an unproductive withdrawal of own funds without obvious consideration, and therefore managing economic transactions at the level of related-party entities in order to minimize the tax liability is obvious and even expected. Purpose of the article: The aim of the paper is to find out if controlled transactions are used in connection with earnings management and tax avoidance in the selected Slovak company using proxies, which may carry this detection capability (ratios of related party transactions, book-tax differences ratio, and discretionary accruals ratio). Methods: The analytical part of the paper follows the Slovak transfer pricing legislation in force. Following the existing research studies, we test hypothetical relationship between the indicators of earnings management, related party transactions and tax avoidance by applying correlation analysis. We worked mainly with publicly available data from financial statements and notes to financial statements. Findings & Value added: The results indicate that the company managed earnings rather downwards, since the values of discretionary accruals ratio were negative. On the other side, it was not proven that earnings management was carried out purely with the intention of minimizing tax liability.
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Edoun, Emmanuel Innocents, Alexandre Essome Dipita, and Dikgang Motsepe. "Illicit financial flows and foreign direct investment in developing countries." Risk Governance and Control: Financial Markets and Institutions 6, no. 4 (2016): 442–47. http://dx.doi.org/10.22495/rgcv6i4siart1.
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Africa is facing a number of challenges that are negatively affecting socio-economic development at all levels of governments and local governments are expected to play a leading role for Africa’s development. One of these challenges are illicit financial flows that are perceived by many as a crime against Africa’s transformation. The continent is losing billions of dollars every year because of tax evasion, corruption and inappropriate transfer pricing and maladministration. With tax being one of Africa’s main sources of revenue, current and past researches revealed that, illicit financial flows (IFFs) cripple African Governments tax base as a results of capital outflows and lack of good governance. This situation obviously is a challenge for Africa’s development as governments struggle to finance structuring projects and this in turn compels these governments to seek funds from international organisations at very high interest rates. It is also important to reveal that Foreign Direct Investment (FDI) rapidly grew after the Second World War with the intention to maximize profit on investment in less developed countries and specifically in the African continent. In competing in Africa, most multinationals main objective is to pay less tax, make extensive profits and transfer the proceeds to their country of origin. This subsequently gave rise to illicit financial flows in Africa where the continent is losing billions of dollars. Past studies equally revealed that, Africa’s revenue could increase between 55 and 65%, if appropriate mechanisms of monitoring the flows were in place. This study therefore is based on the premise that, tax evasion, illicit financial flows, corruption and abusive transfers pricing are all factors that affect Africa’s development. Using appropriate method of inquiry, this study wants to demonstrate the presence of FDI’s in Africa as a modus operandi behind tax evasion. It also using the “Appropriability Theory” to explain the rationale for FDI in Africa.
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ZHU, YUNFA, MADANMOHAN GHOSH, DEMING LUO, NICK MACALUSO, and JACOB RATTRAY. "REVENUE RECYCLING AND COST EFFECTIVE GHG ABATEMENT: AN EXPLORATORY ANALYSIS USING A GLOBAL MULTI-SECTOR MULTI-REGION CGE MODEL." Climate Change Economics 09, no. 01 (February 2018): 1840009. http://dx.doi.org/10.1142/s2010007818400092.
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Carbon pricing generates revenues which can be recycled back into the economy in different ways to help mitigate the economic cost of abatement. These include, lump-sum transfers to households; reducing existing distortionary taxes, such as income taxes on labor and capital; investment in technology funds leading to energy/emissions efficiency improvements; and/or infrastructure developments that help expedite the adoption of low or lower carbon-intensive technologies. In this paper, we undertake illustrative simulations to explore how different revenue recycling options influence the overall economic outcome in terms of broad macroeconomic indicators, such as Gross Domestic Product (GDP) or household welfare. Environment and Climate Change Canada’s (ECCC) multi-sector, multi-region Computable General Equilibrium (CGE) model (EC-MSMR) is used to simulate various revenue recycling options. These simulations are undertaken for the U.S. economy. The main findings of the paper are: (i) using carbon revenue for a general income tax reduction or investment subsidy is more advantageous than a lump-sum transfer to U.S. consumers in terms of welfare or GDP; and (ii) using carbon revenue for a sector-based subsidy such as renewable energy is more disadvantageous than a lump-sum transfer to consumers. In terms of accumulated welfare effects, our results indicate that the best carbon revenue recycling option is the investment subsidy or capital income tax reduction in the longer horizon; labor tax reductions yield the best outcome in the shorter horizons.
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Capponi, Agostino, Paul Glasserman, and Marko Weber. "Swing Pricing for Mutual Funds: Breaking the Feedback Loop Between Fire Sales and Fund Redemptions." Management Science 66, no. 8 (August 2020): 3581–602. http://dx.doi.org/10.1287/mnsc.2019.3353.
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We develop a model of the feedback between mutual fund outflows and asset illiquidity. Following a market shock, alert investors anticipate the impact on a fund’s net asset value (NAV) of other investors’ redemptions and exit first at favorable prices. This first-mover advantage may lead to fund failure through a cycle of falling prices and increasing redemptions. Our analysis shows that (i) the first-mover advantage introduces a nonlinear dependence between a market shock and the aggregate impact of redemptions on the fund’s NAV; (ii) as a consequence, there is a critical magnitude of the shock beyond which redemptions brings down the fund; (iii) properly designed swing pricing transfers liquidation costs from the fund to redeeming investors and, by removing the nonlinearity stemming from the first-mover advantage, it reduces these costs and prevents fund failure. Achieving these objectives requires a larger swing factor at larger levels of outflows. The swing factor for one fund may also depend on policies followed by other funds. This paper was accepted by David Simchi-Levi, finance.
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KOSCHUK, Tetiana. "Agreements between tax authorities and taxpayers in the context of EU law on state aid." Fìnansi Ukraïni 2021, no. 1 (March 18, 2021): 64–82. http://dx.doi.org/10.33763/finukr2021.01.064.
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This article analyses how the application of the EU legislation on state aid has impacted the development of cooperation between tax authorities and taxpayers through the various forms of agreements they enter into. These measures of tax administration may qualify as state aid to business entities only if they meet all the criteria for such aid, namely: they should offer an economic advantage to the beneficiary; they should be granted by the state or through state resources; they should be selective; they should distort competition and have an adverse impact on trade. Furthermore, there are some areas to which the general rules of state aid do not apply. The latter include, among others, the operations of agricultural industries and the actions the state is obliged to take under international treaties. The analysis of the European Commission's approaches and case law has given rise to the following conclusions: 1) the write-off, instalment and deferral arrangements for the tax debt of insolvent economic entities will qualify for state aid only if it is proven that more funds would have made it into the budget had the corresponding agreements not been in place (in particular, if the taxpayer had gone bankrupt); 2) to recognize the consequences of the violation of transfer pricing rules as state aid when entering into advance pricing agreements, it is crucial to unequivocally prove that tax legislation has been violated and prove that, in view of all other opportunities for taxation under the "standard" conditions, the company has in fact paid less taxes; 3) involvement in joint legal compliance programs will not be considered a provision of state aid if the terms of such cooperation provide only procedural benefits to the parties to the agreements, rather than entailing any reduced tax liability for a business entity.
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Ward, Dana. "The changing tax environment for the UK hedge fund sector." Journal of Investment Compliance 9, no. 1 (March 14, 2008): 24–29. http://dx.doi.org/10.1108/15285810810859289.
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PurposeThe purpose of this paper is to summarize the main conditions that a UK investment manager has to meet in order to benefit from a UK tax exemption known as the Investment Manager Exemption (IME) and comment on the key developments introduced in the revised Statement of Practice.Design/methodology/approachProvides background explaining legislation that defines the IME and its Qualifying Conditions and then goes on to explain the impact of the revised Statement of PracticeFindingsThe IME is an exemption for non‐residents trading in certain investments in the UK where that trade is carried on through an investment manager. The IME was introduced in order to promote investment activities in the UK by providing some degree of certainty on the tax treatment of UK managers who manage offshore trading funds. The original Statement of Practice 01/2001 (SP 01/01) was issued by HMRC to provide guidance on the application of the legislation and, more specifically, on how the conditions in relation to the IME are satisfied. The policy aims of the revised Statement of Practice are to improve the IME and also to meet new developments in the investment management industry, thus providing more certainty in relation to the scope and application of the rules.Practical implicationsIt is critical that processes are in place to demonstrate satisfaction of the Qualifying Conditions for the tax exemption; and in particular, contemporaneous and detailed transfer pricing documentation needs to be in place for all but the simplest of structures.Originality/valuePractical guidance from a tax partner of a leading accounting firm.
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Sahibzada, Shamim A., and Mir Annice Mahmood. "Efficiency Analysis of Projects in the Pakistan Economy." Pakistan Development Review 30, no. 4II (December 1, 1991): 983–93. http://dx.doi.org/10.30541/v30i4iipp.983-993.
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The analysis of projects can be undertaken in three stages; the ftrst stage looks at the ftnancial aspects; the second stage examines the projects from an economic aspect and the third stage appraises the project from a social perspective. For the uninitiated reader it is important to distinguish between these three types of analyses. Financial analysis is the initial stage of examining a project with respect to its viability. The analysis is undertaken from the point of view of the sponsoring agency or individual and the prices used for valuing inputs and outputs are those prevailing in the market, in other words, current prices. These prices naturally include taxes and subsidies which may and do act as a distorting feature. Also, in ftnancial analysis the objective is more or less straightforward and simple - that is maximize proftts. For a government planning offtcer or for one who is concerned with looking at the macro economy in particular, the picture that emerges is more complex. This is so because the government planning offtcer has to satisfy himself that the aims and objectives of development projects mesh in with the economic and social aspirations of the country as a whole and are not the objectives of a single particular group of persons. For this, the pricing and valuing system has to be different from the one that examines projects from a ftnancial point of view. Economic or efftciency analysis, therefore, looks at the beneftts and costs of a project from the broader viewpoint of its impact on the economy. The major differences between economic and ftnancial analysis lies in the fact that prices used to value inputs and outputs are net of taxes and subsidies; these latter reflect simply transfer payments and not real cost. Also, in an economic analysis, funds received from outside agencies are not treated as beneftts and interest and principal repayments are not treated as cost.
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Dolinskyi, A. А., A. V. Konyk, N. L. Radchenko, and V. V. Demchenko. "PROBLEMS DURING OPERATION OF HEATING SYSTEMS AND CLEANING AS A WAY OF THEIR DECISION (REVIEW)." Thermophysics and Thermal Power Engineering 41, no. 4 (December 22, 2019): 27–34. http://dx.doi.org/10.31472/ttpe.4.2019.4.
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The article deals with the problem of providing the population with thermal energy. Today, it is one of the important components of the central and local authorities. Now thermal energy and the sphere of thermal energy consumption in Ukraine are in a crisis condition (up to 80% of emergency networks). As a result, it negatively affects the level of energy and national security of the country as a whole. It is shown that among the main factors influencing the situation are unsatisfactory technical condition of thermal energy objects, imperfect system of pricing, lack of necessary investment funds for modernization to fixed assets of thermal energy and housing stock. As a result, this does not allow the implementation of modern technology in this area. Therefore, the quality of the population's supply of heat is very low. The data on statistics on excessive losses in the production and transportation of heat is given. This is explained by the fact that heat losses during transportation in centralized networks reach 45…60%, while the low level of thermal insulation increases them by another 1…20%. So the consumer receives a smaller portion of the thermal energy, and if you take into account the state of the old cast iron radiators that are triggered, then you can imagine how huge the heat loss is. In connection with this now, an important task is find ways to improve the efficiency of heat networks. The article gives a literary review of recent research and publications in which the solution to this problem was initiated. It has been established that the modernization and reconstruction of heat networks requires high financial costs, and so now the authorities are working to improve the efficiency of the old heating networks.
The article analyzes one of the approaches - this is the washing of radiators. In this direction, existing methods and approaches to the cleaning of heating systems are considered, and the most basic ones are defined, which allow to effectively carry out flushing of the system without its modernization and attracting additional capital investments. As a result of the spent statistical analysis and on the basis of the existing experimental base and cleaning plants, equipment has been created that allows the washing of closed or open heating as a whole or locally. It also effectively removes dirt from the inside walls of the system. The equipment works by means of combined pneumohydropimpuls and chemical methods, as well as the main mechanisms of cavitation. The result before the use of such equipment will increase the heat transfer coefficient of the whole system and more efficiently use the energy resource, saving at the same time funds.
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Dziwok, Ewa. "The role of a reference yield fitting technique in the fund transfer pricing mechanism." Prace Naukowe Uniwersytetu Ekonomicznego we Wrocławiu 63, no. 2 (2019): 16–24. http://dx.doi.org/10.15611/pn.2019.2.02.
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Perrotta, Alexis F. "Transit Fare Affordability: Findings From a Qualitative Study." Public Works Management & Policy 22, no. 3 (May 24, 2016): 226–52. http://dx.doi.org/10.1177/1087724x16650201.
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Low-income groups use transit in greater numbers than others. There is little scholarship, however, about how they afford the fare. Using interviews with 25 low-income residents and 15 transportation and social service professionals, this study provides a complex description of fare affordability. It finds that low-income riders are often unable to pay for trips that fulfill daily necessities and discretionary purposes. They manage to travel by evading the fare, exploiting free transfers, forgoing goods, borrowing, and using free fare cards provided by agents of the welfare state. Professionals are largely unaware of the many ways that riders regularly compensate for low funds including the large-scale interventions made by the welfare state into public transportation. Fare evasion enforcement and pricing can pose challenges to low-income riders. By incorporating knowledge on the role that welfare plays in enabling low-income ridership, policy makers can expand access to transit for low-income riders.
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Pyvovarenko, Olena. "KYIV PUBLIC VEGETARIAN CANTEENS IN THE BEGINNING OF THE 20TH CENTURY." Journal of Ukrainian History, no. 39 (2019): 23–30. http://dx.doi.org/10.17721/2522-4611.2019.3.
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For the first time the article reflects a research on the launch of public vegetarian canteens by Kyiv Vegetarian Society in the beginning of the 20th century. For now, there are no particular researches on this topic. Having used chronological, statistical, deductive and system analysis methods, we believe, that the launching of the First Vegetarian Canteen in Kyiv was proved to be inextricably linked to the foundation of Kyiv Vegetarian Society. Moreover, the fact of opening the canteen is a history of this Society. It has been discovered, that considering the inertness of the vegetarian community, this project succeeded solely due to the efforts of true enthusiasts of the vegetarian idea, M. Pudavov and his wife K. Kondrakovska. They united Kyiv supporters of the vegetarian idea into the Society and became both founders and main investors of the First Vegetarian Canteen in Kyiv, which gained an official name ‘the Canteen of Kyiv Vegetarian Society Council’. Unfortunately, their efforts weren’t evaluated properly, but even were generally subjected to contempt. M. Pudavov, who was a Head of Kyiv Vegetarian Society, was accused of the fact, that he actually established a private canteen, abusing official authority. Although, there are no doubts, that M. Pudavov acted in the interests of the Society and suggested to transfer the canteen to the Society’s property. But members of the Society expressed their interest only when the canteen became profitable. As a result of long debates, Kyiv Vegetarian Society got profitable the First Canteen for free and enjoyed benefits. The Canteen became the main funds provider. This money allowed the Society, as a collective owner, to open a chain of successful canteens. The premises of the foundation and stages of canteens’ development were traced. Thus, in two years from its opening, the First Canteen served 700 people every day. Such success prompted the Society to open the second canteen in 1911. Very soon it started to show similar to the First Canteen growth rate. In 1914 the third canteen was opened. Later on the Society opened the fourth canteen, but due to occupation of Kyiv in 1916, it had to suspend its functioning. Concerning other three canteens, they proceeded even in such harsh conditions and showed quite good results. The addresses of these canteens were discovered. Based on discovered and reflected in the article statistical data, the dynamics of visiting and profitability growth were analyzed. They didn’t slow down neither in the conditions of high competition, nor during World War I crisis. Moreover, during the War there was an increase in the attendance of public vegetarian canteens. General crisis of food supply heavily affected prices. Vegetables and greens were usually cheaper than meet products and this fact increased popularity of vegetarian places. In these canteens people could get lunch for lower price than in a traditional one. The commercial success of the Kyiv public vegetarian canteens had no analogues on the territory of the Russian Empire. It was caused by constant attention of the Society members to canteens, properly organized supply (even in conditions of war), control, good location and attractive pricing policy. There was a special Commercial Commission, which took care of all business. At the same time, famous connoisseurs of vegetarian cuisine worked on receipts and assortment. The daily maintenance of more than 1,000 people per day gives every reason to believe, that it was a large and exemplary enterprise. At the same time, popularity of vegetarian canteens during the whole assessed period can’t be equated with the proliferation of vegetarian ideas. It was primarily economic in nature, thanks to relatively low prices for vegetarian dishes that attracted poor clients, first and foremost students, who traditionally were accounted for more than 50% of visitors. At the same time the effect of popularization of vegetarianism can’t be completely rejected.
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Payne, Harold, and Janelle Manton. "Evolution of the Australian fiscal landscape and its impact on oil and gas investments in Australia." APPEA Journal 53, no. 2 (2013): 445. http://dx.doi.org/10.1071/aj12056.
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The oil and gas industry is among the most regulated and highly taxed sectors of the Australian economy. In recent times, the industry has been confronted with ongoing tax reforms that significantly impact the after-tax economics of projects. Examples include the introduction of the carbon pricing mechanism, the extension of the Petroleum Resource Rent Tax (PRRT) to the onshore oil and gas sector, the decision in the Esso case impacting on PRRT taxpayers, amendments to R&D tax incentives and modifications to the taxation system affecting mobile employees. Although the Business Tax Working Group recently did not make any recommendations to broaden the tax base to fund a reduction in the company tax rate, the desire to undertake further reforms that may impact the sector remains. The year ahead will see implementation of further transfer pricing reforms, ongoing consultation and review regarding the definition of exploration expenditure, and increasing focus on corporate international tax reform in line with global trends. Any reform has the potential to have a material impact on the capital- and exploration-intensive oil and gas industry, which also relies heavily on capital funding from multinational investors. This extended abstract analyses the recent reforms and their impact on the oil and gas sector, provides an outlook of other relevant areas of potential fiscal change, and assesses what this might mean for the Australian oil and gas industry.
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Ugochukwu Anuforo, Peter, Mohamed Ismail Mohamed, Iliyasu Shiyanbade Najeemdeen, Bello Taofik Abidemi, and Jenson Jonathan. "Determinants of Tax Haven: Overview of Past Studies." Journal of Accounting and Finance in Emerging Economies 4, no. 2 (December 31, 2018): 151–58. http://dx.doi.org/10.26710/jafee.v4i2.530.
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In recent years the issue of tax haven has been subjected under rigorous scrutiny by both the policymakers and regulatory authorities, due to the extent of the effects it has on both the developed nation (beneficial country) and particularly the developing nation which are the targeted tax haven territory. This study aimed at providing insight into the main determinants of tax haven and their effects. The method employed in this study involved reviewing prior study on tax haven. Findings suggests that the main determinants of tax haven region is not only the ones enshrined in Organization for Economic Co-operation and Development (OECD) criteria but others such governance index, institutional weakness, substantial amount of GDP from service industries etc. This study has also revealed that the conduit by which tax haven is being perpetrated is mainly via offshore financial centers (OFCs) which involve banks secrecy, transfer pricing (i.e. the devil in disguise) etc. This study recommends that stringent control measures and penalties for tax-resistant behaviors should be put in place by the international regulators like the World Bank and International Monetary Fund (IMF).
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KARTYSHEV, D. V., and O. M. KOTLUBAY. "METHODICAL FOUNDATIONS OF HARBOUR DUES CALCULATION DEVELOPMENT." Economic innovations 20, no. 3(68) (September 20, 2018): 89–95. http://dx.doi.org/10.31520/ei.2018.20.3(68).89-95.
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Topicality. Having carefully considered the Port Consumption Calculation Methodology presented for public discussion, Seaports Development Strategy Committee of Ukrainian Port Association's(“Ukrport”) notes some positive aspects related to the preparation of this important document, which is intended to streamline the pricing process in the area of charging port fees and to bring them up to necessary and sufficient level to ensure the normal operation of port facilities and navigational facilities, and, accordingly, the safety of navigation in the Ukrainian state responsibility zone. It should also be emphasized that the return to gross tonnage charging, rather than unit modulus, as is now the case, is a significant positive step and will contribute to greater acceptance and transparency of the Development Port Consumption Calculation Techniques. The same applies to the applied approach, which divides the port dues rate into two components: operating and investment. This is all the more important that the global approach, which uses most ports, considers port charges as a means of covering current costs for the maintenance of relevant facilities and facilities for which no commercial gain is foreseen. The commercial purpose of port facilities is to provide efficient and safe service at the port of vehicles and overload of goods, which is what creates the commercial benefit that is being generated by all participants in the transport process at the port. This is precisely because ships that use the port only as a harbor-warehouse are largely exempt from paying port duties in world practice. That is, the only source of formation of the investment component of port dues may be only depreciation of the relevant facilities.Aim and tasks. A critical assessment of the construction of a methodology for calculating port fees. As a rule, in the world for port facilities, a linear method is used to calculate depreciation charges, but there is also the possibility to use certain methods of accelerated depreciation, which, however, operate simultaneously with the appropriate methods of transfer of losses caused by accelerated depreciation on the former or subsequent time periods, and simply to levy from the shipowner funds for future development is economically insolvent and does not correspond to good maritime practice. Unfortunately, this circumstance, besides the berthing fee, has not been taken into account at all when developing the Port Taxation Calculation Method, which is presented on the website of the Ministry of Infrastructure for public discussion. Thus, in the second paragraph of item 1.1. Section II of the general provisions reads as follows: "The investment component of the berthing rates is charged to port operators and other business entities engaged in economic activities using berths for handling, handling and storage of goods, servicing ships, and other facilities. with these types of economic activity. "Research results. Next, it should also be noted that in the presented method: the base rate of the ship's fee includes: coverage of planned operating costs in accordance with the intended purpose of the ship's fee, planned operating and investment costs associated with the implementation of activities for the operation and development of the search and rescue system in the marine search and rescue region of Ukraine, marine research enterprises and river transport belonging to the sphere of management of the Ministry of Infrastructure of Ukraine. The base rate of the ship's fee is determined depending on the ship's specialization, taking into account the coefficients of K bulk carrier, K tanker, K container, K ro-ro, K passenger, other, reflecting the effect of the design features of the vessels on the ability to provide transportation of goods and / or passengers, while gross tonnage of these properties itself by itself already takes into account through the appropriate calculation methodology.Base rate for lighthouse - coverage of planned operating and investment costs for the provision and development of navigational and hydrographic navigation support;the base rate of the administrative fee includes: covering the costs of fulfilling Ukraine's obligations to comply with the legislation and regulations of navigation, international agreements of Ukraine with regard to navigation, the consent to be bound by the Verkhovna Rada of Ukraine, fulfillment of other tasks, in accordance with the international obligations imposed on the enterprises of the maritime industry, as well as merchant shipping, navigation on inland waterways, navigational and hydrographic provision of navigation, as well as in the field of maritime safety and river transport (except for the navigation safety of vessels of the fleet of the fishing industry);That is, the base rate of the administrative fee also includes the costs, which are already somehow foreseen in the ship and beacon fees.Conclusion. Having analyzed the rules of law, we can conclude that port dues are a fee for specific services to the shipowner who pays these fees. In the provision of these services, fixed assets and other non-current assets are very worn out, both physically and morally, in connection with which there is a need to direct port charges, first of all, this is the main source of renovation, repair, reconstruction and construction of hydro-technical constructions, dredging works to maintain the necessary depths in the water areas and approach channels of sea ports of Ukraine. In addition, the basis of the system of formation of tariffs for port dues is the cost of specific services received by shipowners. Control of the cost of these services with the help of a list of costs (covered by port fees), which are included in the cost, makes it possible to establish reasonable, competitive tariffs for port dues. At the same time, tariffs are kept at the market level, and if necessary, they may be justified (based on the analysis of cost of services) for the purpose, on the one hand, to ensure sufficient funds to cover costs included in cost, and on the other hand to ensure the attractiveness of port dues for shipowners, cargo owners in order to attract more cargo to seaports, primarily transit.
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Karpenko, M., and O. Stelma. "THE DYNAMIC MODEL OF ECONOMIC EQUILIBILITY AS A COMPONENT OF DISTANCE EDUCATION SYSTEMS." Municipal economy of cities 3, no. 156 (July 1, 2020): 88–93. http://dx.doi.org/10.33042/2522-1809-2020-3-156-88-93.
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The article describes the system model with adjustable parameters and its mathematical analysis. The model allows us to investigate the conditions of achieving economic equilibrium and to consider possible states of the system in this context. In the model, the economic system is described by the interaction of three components: the producer, the aggregate consumer, and the price regulator. The manufacturer produces two types of products (goods), and its production capacity limits their maximum output. The specific value of production volumes of each type of product is determined by the producer himself, based on current prices. Having fixed specific output volumes, the producer transfers the goods to the domestic market. The consumer, having received this supply, forms the volumes of demand from his side. In this case, the model takes into account the level of prices and preferences of the consumer. Depending on the ratio of supply and demand, products are sold in the model. Volumes of money, which were not covered by supply, are transferred and accumulated in the "unsatisfied supply" fund. Volumes of goods, which were not consumed, are accumulated in the "deferred demand" fund. According to the results, the model proposes to change the value of prices, if necessary, to introduce a coefficient of price adjustment, after which the process is repeated under new conditions. After a certain number of iterations based on the results of the model, it is possible to obtain the state of the system as well as the history of its formation. This allows us to make a conclusion about the correctness of the pricing strategy and evaluate the obtained results. The described model is implemented as a component of a distance course. The use of computer modeling tools, in combination with e-learning tools, has confirmed their high efficiency. Keywords: economic equilibrium, mathematical model, imbalance, mathematical analysis, production capabilities, utility function.
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Tumasyan, Hovik. "Revisiting Funds Transfer Pricing." SSRN Electronic Journal, 2012. http://dx.doi.org/10.2139/ssrn.2257081.
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Lindblom, Ted, and Viktor Elliot. "Funds Transfer Pricing, Liquidity Premium and Market Structure." SSRN Electronic Journal, 2017. http://dx.doi.org/10.2139/ssrn.2996419.
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Gordon, Morgan. "Measuring Performance and Profitability of a Financial Institution: The Metrics of Funds Transfer Pricing." SSRN Electronic Journal, 2015. http://dx.doi.org/10.2139/ssrn.2605529.
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Gordon, Morgan Bright. "Measuring Performance and Profitability of a Financial Institution: The Metrics of Funds Transfer Pricing." SSRN Electronic Journal, 2015. http://dx.doi.org/10.2139/ssrn.2628955.
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Dziwok, Ewa. "The role of funds transfer pricing in liquidity management process of a commercial bank / Znaczenie cen transferowych w procesie zarządzania płynnością banku komercyjnego." Prace Naukowe Uniwersytetu Ekonomicznego we Wrocławiu, no. 428 (2016). http://dx.doi.org/10.15611/pn.2016.428.04.
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"Book Reviews." Journal of Economic Literature 50, no. 4 (December 1, 2012): 1109–13. http://dx.doi.org/10.1257/jel.50.4.1106.r2.
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Goetz von Peter of Bank for International Settlements reviews, “Liquidity and Crises” by Franklin Allen, Elena Carletti, Jan Pieter Krahnen and Marcel Tyrell. The EconLit Abstract of this book begins: “Twenty-five previously published papers examine liquidity and its role in financial crises. Papers discuss preference shocks, liquidity, and central bank policy; endogenous liquidity in asset markets; financial intermediaries and markets; financial fragility, liquidity, and asset prices; interbank market integration under asymmetric information; banks as monitors of other banks-evidence from the overnight federal funds market; private and public supply of liquidity; liquidity, efficiency, and bank bailouts; financial crises, payment system problems, and discount window lending; liquidity, risk taking, and the lender of last resort; coordination failures and the lender of last resort-whether Walter Bagehot was right after all; competition among regulators and credit market integration; money in a theory of banking; liquidity and asset prices; collateral constraints in a monetary economy; inefficient credit booms; financial contagion through capital connections-a model of the origin and spread of bank panics; information contagion and bank herding; cash in-the-market pricing and optimal resolution of bank failures; credit risk transfer and contagion; estimating bilateral exposures in the German interbank market-whether there is a danger of contagion; asset market linkages in crisis periods; strategic complementarities and the twin crises; inefficient foreign borrowing-a dual- and common-agency perspective; and exchange rate volatility and the credit channel in emerging markets-a vertical perspective. Allen is Nippon Life Professor of Finance, Professor of Economics, and the codirector of the Wharton Financial Institutions Center in the Wharton School at the University of Pennsylvania. Carletti is Professor of Economics and Joint Chair of the Economics Department and the Robert Schuman Center for Advanced Studies at the European University Institute. Krahnen is Chair of Corporate Finance at Johann Wolfgang Goethe-University Frankfurt. Tyrell is Professor of Entrepreneurship and Finance at Zeppelin University. Index.”
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Dermine, Jean. "Fund Transfer Pricing for Deposits and Loans, Foundation and Advanced." SSRN Electronic Journal, 2011. http://dx.doi.org/10.2139/ssrn.1944129.
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Dermine, Jean. "Fund Transfer Pricing for Deposits and Loans, Foundation and Advanced." SSRN Electronic Journal, 2012. http://dx.doi.org/10.2139/ssrn.2069917.
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Dermine, Jean. "Fund Transfer Pricing for Bank Deposits. The Case of Products with Undefined Maturity." SSRN Electronic Journal, 2016. http://dx.doi.org/10.2139/ssrn.2722392.
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Gao, Li, Jinnan Song, Jianxiao Guo, and Jiajuan Liang. "Governance role of media coverage: from the view of accounting information value relevance and market value about share pledge firms in China." Chinese Management Studies ahead-of-print, ahead-of-print (September 5, 2021). http://dx.doi.org/10.1108/cms-07-2020-0294.
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Purpose Share pledge is a popular way to raise funds in China, but it aggravates information asymmetry. As an indispensable information intermediary in the financial market, media coverage affects asset price and pricing efficiency and impacts information asymmetry. This study aims to explore the governance role of media coverage as an information intermediary in the share pledge context in China. Design/methodology/approach Moderating effect and mediating effect analyses are the primary methods used to test the governance role of media coverage. The ordinary least squares model was used to test the relationship between share pledge and market performance and then proved the moderating effect of media coverage toward the corporate market value of pledge firms. Accounting earnings value relevance models were explored to test the path of media coverage on firm market value by mediating effect analysis. At last, subgroup tests were used to verify the heterogeneity of the moderating effect of media coverage. Findings In the context of share pledge in China, the higher the share pledge ratio, the higher is the market value of listed firms, which verifies the motivation of controlling shareholders to avoid the transfer of control right and the motivation to tunneling. Media coverage has a significant negative moderating effect on the relationship between share pledge rate and corporate value and has a significant impact on the accounting earnings value relevance of share pledge firms. From the perspective of long-term earnings, media coverage reduces the market performance of share pledge firms by reducing the value correlation of accounting earnings information. From the short-term price point of view, media coverage reduces the market performance of share pledge firms by improving the value correlation of accounting earnings information. Furthermore, media coverage has a more significant moderating effect in state-owned share pledge firms and low information transparency and low information disclosure quality firms. Research limitations/implications This paper does not distinguish the mode difference of spreading news and the impact of non-pledge media coverage. Also, this paper does not consider factors other than accounting information value relevance when exploring how media coverage affects the corporate market value. Share pledge firms should use media for publicity and play a role in media governance and should actively improve their information disclosure quality, strengthen communication with investors and reduce information asymmetry fundamentally. Practical implications This paper diversify the governance choices for share pledge firms and has important implications for firms, investors, information intermediaries and regulators. Media reports play an increasingly important role today, and any reports and predictions of major events may profoundly affect investors’ decisions. Although media reports can make up for the weakness of accounting information disclosure of equity pledge companies in some sense, it is still not a long-term strategy. Equity pledge companies should not only make use of media for publicity and play a role of media governance but also actively improve their information disclosure quality. Originality/value This paper focuses on share pledge firms to carry out in-depth research. Based on exploring the influence mechanism of share pledges, the authors find the importance of media governance. This paper expands the literature about the economic consequences of share pledges and provides empirical data for media governance of share pledge firms. This paper innovatively proves the governance role of media coverage from the view of accounting information value relevance. The main innovation point is the long and short-term perspective analysis of the influence of media coverage on the correlation of accounting earnings value. The heterogeneity effect analysis of media coverage also reflects the depth and strong practical guiding significance of this study.
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Bruno, Ellen M., and Katrina Jessoe. "Using Price Elasticities of Water Demand to Inform Policy." Annual Review of Resource Economics 13, no. 1 (June 2, 2021). http://dx.doi.org/10.1146/annurev-resource-110220-104549.
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This survey distills recent work on the price elasticity of demand for urban and agricultural water and outlines how it can inform the design of market-based approaches to manage increasingly scarce water resources. We offer a brief description of the water sector, including the primary users, main water sources, and market failures in the allocation and use of surface water and groundwater. A review of recent empirical research on the price elasticities of agricultural and urban water demand shows the progress made in our understanding of user response to prices and reveals substantial heterogeneity in the price response. We apply what we have learned about elasticities to surface water markets and price-based groundwater management. Heterogeneity in price elasticities suggests that water transfers may lead to large efficiency gains, but that their magnitude is site specific. Groundwater pricing may cost-effectively manage groundwater and fund the development of alternative water supplies, but heterogeneity in elasticity estimates highlights that the conservation and revenue generated is basin specific. Expected final online publication date for the Annual Review of Resource Economics, Volume 13 is October 2021. Please see http://www.annualreviews.org/page/journal/pubdates for revised estimates.