As a result of policies to reduce public deficit, nonprofit organizations have been forced to turn to charitable donations in order to diversify their revenue structure and thus reduce their levels of financial distress. Public administrations have supported this process through tax mechanisms designed to provide a legal framework that will encourage private philanthropy. Our aim is to analyse the role of nonprofit tax regulations in moderating the influence of revenue diversification on insolvency risk. To this end, we drew a sample of 406 nonprofit organizations located in Aragon and Navarre, two European regions with different tax regulations, for the period 2008–2018. Our results reveal that some tax regime requirements, such as the organizational purpose, minimum initial endowment, engagement in commercial activity, and accountability and monitoring standards, have a positive impact on revenue diversification and the reduction of financial distress and vulnerability. However, we also detect differences between regions which suggest that tax harmonization for nonprofit organizations remains a challenge. 相似文献
Financial Markets and Portfolio Management - This study assesses the impact on price informativeness of the market abuse directive adopted by European economic area member-states. Price... 相似文献
We investigate the role of organisational politics (i.e., general political behaviour, going along to get ahead and pay and promotion policies) and political skill on the relationship between non-financial performance measures and job performance, relying on a sample of manufacturing firms in China. Results suggest that non-financial performance measures positively affect managers' job performance, and non-financial performance measures reduce general political behaviour and pay and promotion policies. Results further suggest that managers' political skill positively affects job performance, and political skill also moderates the relationships between (1) general political behaviour and (2) pay and promotion policies, and job performance. 相似文献
The growing political polarization and the increasing use of social media have been linked to straining social ties worldwide. The 2016 presidential elections in the United States reflected this trend with reports of fear and anxiety among voters. We examine how election results can be linked to episodes of anxiety through the use of alcohol as self-medication. We analyze a daily dataset of household purchases of alcohol in the weeks following presidential elections. We find that, within 30 days from Election Day, a 10 percentage point increase in support for the losing candidate increases alcohol expenditure by 1.1%. The effect is driven by counties with a higher share of supporters of the losing candidate and is robust to controlling more flexibly for omitted variables related to alcohol consumption. The increase in alcohol consumption is present in the 2016 elections and absent in the previous three presidential elections. 相似文献
From 2021 onwards, female entrepreneurship is expected to grow very substantially as a result of the Covid-19 pandemic. The introduction of teleworking and staggered hours in many countries at national or workplace level will make possible the conciliation between labour and family life. The purpose of this paper is to identify the most influential explanatory factors in the behaviour of female entrepreneurship in Europe so as to subsequently propose efficient economic policy measures to promote it. The distinction between opportunity and necessity female entrepreneurs have been considered since both motivation and factors are different in each case. 15 econometric models using the panel data method for a sample of 20 previously selected European countries (grouped by their GDP level) during the period 2001 to 2018 have been estimated to determine which explanatory factors affect female entrepreneurship and necessity-based female entrepreneurship. The empirical analysis used demonstrates that more women enter into entrepreneurship due to necessity rather than in pursuit of opportunity for European countries both with higher levels of GDP and for countries with lower levels of GDP. In this context, the following policy measures should be implemented to promote female entrepreneurship in Europe: the optimization of government spending (training courses and mentoring, public procurement, stronger networks, support in reconciling business and family life, etc.), the government incentives for subsidizing high interest rates to support women in accessing financing, and the improvement of entrepreneurship education to increase the confidence of women in themselves in their own entrepreneurial capabilities.
This paper studies processes of integration and segregation using a connections model in which individuals form valuable links that also entail a cost. Individuals belong to two different groups and care about whether their own group represents a sufficient fraction in their neighborhood. Concerns for representation promote the segregation of societies as even for small linking costs individuals do not link to different others because of the threat that their group becomes under-represented. For certain cost ranges, concerns for representation also determine efficient networks because forming links with members of the opposite group entails a utility loss due to under-representation. 相似文献