In Imposing Standards, Martin Hearson shifts the focus of political rhetoric regarding international tax rules from tax havens and the Global North to the damaging impact of this regime on the Global ...South. Even when not exploited by tax dodgers, international tax standards place severe limits on the ability of developing countries to tax businesses, denying the Global South access to much-needed revenue. The international rules that allow tax avoidance by multinational corporations have dominated political debate about international tax in the United States and Europe, especially since the global financial crisis of 2007–2008.Hearson asks how developing countries willingly gave up their right to tax foreign companies, charting their assimilation into an OECD-led regime from the days of early independence to the present day. Based on interviews with treaty negotiators, policymakers and lobbyists, as well as observation at intergovernmental meetings, archival research, and fieldwork in Africa and Asia, Imposing Standards shows that capacity constraints and imperfect negotiation strategies in developing countries were exploited by capital-exporting states, shielding multinationals from taxation and depriving nations in the Global South of revenue they both need and deserve.Thanks to generous funding from the Gates Foundation, the ebook editions of this book are available as Open Access volumes from Cornell Open (cornellopen.org) and other repositories.
Start-Up Marketing Strategies in Indiais a comprehensive book of cases based on real-life marketing challenges faced by Indian start-ups across a wide range of industries.
How does the COVID-19 affect SMEs’ financing in emerging markets? In this paper, we investigate the impact of the COVID-induced shock on Chinese SMEs’ line of credit (LOC) using deal-level data. As ...Hubei province was mostly affected, we employ a difference-in-differences approach with the propensity score matching (PSM-DID) and compare Hubei SMEs’ credit responses before and after the outbreak relative to those of non-Hubei SMEs. Our results suggest that Hubei SMEs’ credit demand reduced significantly compared to that of non-Hubei SMEs, and the adverse effects were more pronounced for the non-state-owned enterprises (non-SOEs) and the SMEs without prior bank relationships. Moreover, we show a negative impact on non-Hubei SMEs having supply chain relationships with Hubei province. Such effects rippled through the supply chain and exerted an intensified strike on the SMEs with Hubei customers. Finally, we find the state-owned banks eased the LOC to Hubei SMEs during the pandemic outbreak.
Plain English Summary
Chinese SMEs’ credit demand deteriorated after the COVID-19 outbreak, though supported by the state-owned banks. How does the COVID-19 affect SMEs’ financing in emerging markets? In this paper, we investigate the impact of the COVID-induced shock on Chinese SMEs’ line of credit (LOC) using deal-level data. As Hubei province was mostly affected, our results suggest that Hubei SMEs’ credit demand reduced significantly compared to that of non-Hubei SMEs, and the adverse effects were more pronounced for the non-state-owned enterprises (non-SOEs) and the SMEs without prior bank relationships. Moreover, we show a negative impact on non-Hubei SMEs having supply chain relationships with Hubei province. Such effects rippled through the supply chain and exerted an intensified strike on the SMEs with Hubei customers. Finally, we find the state-owned banks eased the LOC to Hubei SMEs during the pandemic outbreak. According to our study, government COVID-supportive policies should target the SME subgroups such as non-SOEs, firms that heavily rely on supply chain, and those without stable bank relationships.
This book is perfect for anyone looking at business and entrepreneurship. It is ideal for anyone with an interest in business and anyone who has aspirations to start their own business–outlining key ...principles of the entrepreneurial adventure and the business world, bringing it to life using case studies. Within this text you will find useful and practical information about business and entrepreneurship. The author provides a robust understanding of the theory and real-world implications of running a successful business. James also describes and explains the whole process from understanding the implications and risks, the start-up stage through to future expansion. He clearly demonstrates that if you consistently follow the good business habits and practices that are described in this book, you really can achieve entrepreneurial success and the opportunities that come with it.
•State-owned enterprises can function as an instrument to enforce government policy.•The one child policy reduced people’s fertility for those working in state-owned than in non-state-owned ...enterprises.•There is no significant difference in fertility desire between people working in state-owned and non-state-owned enterprises.•The findings are not due to other confounding events such as the opening-up policy.
State-owned enterprises can function as an instrument to enforce government policies. Using data from the China General Social Survey, we evaluate the role and effectiveness of state-owned enterprises in enforcing the one child policy and affecting people’s fertility decisions. The estimates show that the one child policy in China significantly reduced people’s fertility for those working in state-owned enterprises than in non-state-owned firms. The findings are not driven by different fertility desires or other confounding events such as the opening-up policy. Such insights have valuable implications for the enforcement of population policies around the globe.
The “conventional wisdom” in academic and policy circles argues that, while large and foreign banks are generally not interested in serving SMEs, small and niche banks have an advantage because they ...can overcome SME opaqueness through relationship lending. This paper shows that there is a gap between this view and what banks actually do. Banks perceive SMEs as a core and strategic business and seem well-positioned to expand their links with SMEs. The intensification of bank involvement with SMEs in various emerging markets is neither led by small or niche banks nor highly dependent on relationship lending. Moreover, it has not been derailed by the 2007–2009 crisis. Rather, all types of banks are catering to SMEs and large, multiple-service banks have a comparative advantage in offering a wide range of products and services on a large scale, through the use of new technologies, business models, and risk management systems.
Using transaction-level data on enterprise asset-backed securities (ABS), we investigate the relationship between ABS issuance, interest savings, and firm characteristics in China. About half of the ...ABS deals were issued by small and medium-sized enterprises (SMEs), and around 70% of the issues carry a coupon rate lower than the average interest rate on bank loans. Firms issue more ABS when the interest savings are high, or when they face more restricted access to credit. Private firms are most responsive to the benefits provided by the enterprise ABS market compared to state-owned enterprises and foreign companies.
This research theoretically analysed how corporate value is enhanced when Chinese state-owned enterprises (SOEs) shift their focus. In our analysis of Chinese SOEs listed in A-shares from 2013 to ...2019, we describe their process of returning to their primary business using the 'three supply and one industry' (3S1I) handover policy. We conducted a quasi-natural experiment to study whether refocusing on SOEs can improve their value. The research shows that the policy enhances the efficiency of SOEs, thus increasing their value. These results were particularly evident among local SOEs. Moreover, SOE employees' social responsibility performance may have a negative moderating effect on efficiency, indicating that excessive social responsibility can lead to a loss in efficiency and a reduction in SOE value. We conclude by discussing why SOEs should prioritize improving economic value and then fulfil social responsibilities to enhance social value through social purchasing and other ways. This study contributes to the literature by providing recommendations on improving the value of SOE from the perspective of 'transferring 3S1I' and refocusing.
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