Effects of fiscal policy in the Northern and Southern regions of Italy

This paper contributes to a growing body of work within ‘fiscal policy studies,’ investigating the recent role of fiscal policy on the Italian economy. Using annual data collected on a regional basis, this study estimates and compares the (impact and cumulative) fiscal multipliers across the North and the South—the less developed area—of Italy. With recourse to a simultaneous equation model for the two macro-areas of Italy, it estimates the overall impact of the measures of budget consolidation policies during the period 2011–2013. Our analysis reveals that tax increases and, with a greater impact, spending cuts, hit the South harder compared to the North.     

Risky business: Taking a stand on social issues

When company executives take a stand on social issues, the repercussions can be significant. Not only does the company run the risk of alienating employees, but taking a stand on a controversial issue can impact the company's image and ultimately consumer purchasing behaviors. However, research on corporate social responsibility generally supports the notion that when companies get involved in societal issues, it can positively influence bottom-line financial performance. This article evaluates the advantages and disadvantages of taking a corporate stand on sensitive social issues and suggests guidelines that leaders should consider to increase the probability of success. Specifically, we found that oftentimes it is not the stand a leader takes but rather how that leader takes that stand. Moreover, we encourage business leaders to consider the delicate balance between fiduciary responsibility and social activism, to use a strategic approach, and to understand the legal repercussions before taking a stand on a social issue.     

业务招待费涉税问题浅析

业务招待费是企业进行正常生产经营活动所必需的一项成本费用。从会议费与业务招待费混淆，差旅费与业务招待费混淆，考察费与业务招待费混淆，工资薪金与业务招待费混淆，以及业务宣传费与业务招待费混淆这五个方面分析业务招待费税务处理中常见的问题，提出完善企业业务招待费税务管理的建议：建立企业业务招待费的控制制度；提升员工素质；建立监督机制；合理规范账务处理；把握好业务招待费列支的真实性和合理性。     

中、日房地产税制比较分析及启示

近年来,我国房地产市场发展较为迅速,房价持续高涨,房地产税制也存在一些弊端。房地产问题是关系到国计民生的问题。本文对现行日本成熟的房地产税制从税种、纳税义务人、计税依据、税率设计、税收体制五个方面进行比较分析,为完善我国房地产税制提出一些建议和参考。     

Determinants of Sales Destinations of U.S. Multinational Firms' Affiliates in Developing Countries

This study examines the determinants of the sales of .U.S. multinational firms' affiliates to alternative destinations, including sales to other affiliate firms in a host country and a source country markets as well as sales to other non-affiliate persons in each market. Sample host countries are drawn from developing economies where U.S. multinational firms had affiliate firms during the period 1983–1998. The results of the study reveal that affiliates of multinational firms manipulate sales to minimize international taxation. This is supported by the finding that foreign corporate income taxes: affect sales between affiliate firms favorably, unlike its impacts on sales of affiliates to non-affiliate persons in both a host country and source country markets. Considering all markets together, economic volatility and political instability have minimal impacts on sales of affiliates to other affiliate firms compared to their impacts on sales to non-affiliate persons. The results also confirm that host countries' economic policy reforms and membership in multinational investment guarantee agencies facilitate sales of affiliates to other affiliate firms.     

基于公司治理视角的媒体监督机制研究

基于公司治理视角对媒体监督机制的研究,不仅有助于扩展法律外制度在公司治理中的应用,而且为管理学、传播学与行为心理学的相互作用研究建立了桥梁。本文先回顾了媒体监督机制的治理效用的相关经验研究,进而通过分析媒体监督的内在作用机理,指出信息挖掘能力、媒体偏度、路径有效性、高管私利与风险偏好这＂五因素＂共同决定了媒体监督治理功能的发挥。     

物价上涨对我国税收收入的影响——由本轮物价上涨来看

从2010年开始，我国进入一个新的经济发展阶段，表现为出口导向减弱，扩大内需程度增加，城市化速度加快，消费需求增多。与此同时，物价水平也进入了新一轮上涨通道，通胀预期持续增强。尽管物价上涨给居民生活带来诸多不便，但却成为税收增加的主要原因之一。本文从这一轮物价上涨及税收增长的现实入手，阐述物价推高税收增长带来的不利影响及应对措施。     

Corporate tax payments under formulary apportionment: Evidence from the financial reports of 50 major U.S. multinational firms

Under a formulary apportionment system of taxing multinational corporate income, U.S. tax liabilities would be based on the product of a multinational firm's worldwide income and the fraction of their real activities that occur in the United States – typically, an average of asset, payroll, and sales shares. This analysis utilizes financial reporting data for 50 large U.S. multinational firms to analyze how tax payments would change under a possible formulary system, updating Shackelford and Slemrod (1998). Our time period is 2005–2007 instead of 1989–1993. We find that tax payments under formulary apportionment would increase modestly overall but by a lower magnitude than found by Shackelford and Slemrod. Given the changes in the international tax environment since the earlier time period, this is a puzzling finding; we speculate regarding possible explanations.