TAXATION OF FINANCIAL CAPITAL IN A GLOBALIZED ENVIRONMENT: THE ROLE OF WITHHOLDING TAXES

1998 ◽  
Vol 51 (3) ◽  
pp. 587-599
Author(s):  
HOWELL H. ZEE
Keyword(s):  
Financial Capital ◽  
Withholding Taxes

Reshaping the Economic Structure in Argentina: The Role of External Debt during the Macri Administration (2015–2019)

2021 ◽  
pp. 048661342097642
Author(s):  
Juan E. Santarcángelo ◽  
Juan Manuel Padín
Keyword(s):  
External Debt ◽  
Economic Structure ◽  
The United States ◽  
Jel Classification ◽  
Financial Capital ◽  
Economic Policies ◽  
Right Wing ◽  
Long Term Effects

Argentina’s right-wing shift in the 2015 presidential election concluded twelve years of center-left rule. The elected president, Mauricio Macri, claimed that the economy would experience normalization of existing imbalances and recover its strength in a “new political era.” However, the new administration quickly restored the dominance of neoliberal economic policies through a comprehensive set of initiatives, which centrally included the return to international financial debt and equity markets and submission to the International Monetary Fund’s (IMF) rules. This article analyzes Argentina’s external-debt-growth process and discusses its objectives and long-term effects. This paper posits that the indebtedness process carried out by the Macri administration—and its modality—not only increased the relevance of financial capital in the Argentine economy but also structurally conditioned any future nonorthodox alternative path of development. This outcome cannot be understood without taking into account the deliberate role of the United States, the IMF, and the top companies that operate in Argentina, as well as the complicity of many political sectors. JEL Classification: H63, F34, F63

scholarly journals Financial capital, constraints, partners, and performance: An empirical analysis of Indonesia SMEs

2021 ◽  
Vol 18 (2) ◽  
pp. 210
Author(s):  
I Wayan Widnyana ◽  
I Made Dauh Wijana ◽  
Almuntasir Almuntasir
Keyword(s):  
Financial Performance ◽  
Financial Constraints ◽  
Small And Medium Enterprises ◽  
Value Added ◽  
Financial Capital ◽  
Moderation Effect ◽  
And Performance ◽  
Medium Enterprises ◽  
The Relationship

Indonesia's small and medium enterprises (SMEs) are considered the backbone of the national economy. However, the fact that SMEs still contribute less to the national gross domestic product (GDP) in terms of value-added, need to be addressed. While previous studies mainly focused on financial (access) constraints as one of the major constraints faced by small enterprises which affect their growth and performances, this study aims to extend the relationship between capital and financial performance of Indonesia SMEs with the moderating effect of financial constraints and partners. This study is different from others as it uses a bigger panel dataset which is about 4.36 million SMEs in Indonesia and is the first to explore the role of financial partners comprehensively. Moreover, the panel regression model with geographic analysis unit uses as a data analysis method. The results of the study show that financial capital has a positive and significant effect on the financial performance of SMEs. Furthermore, while the moderation role of financial partners on the relationship between financial capital and financial performance of Indonesia SMEs was failed to prove, the negative moderation effect of financial constraints was able to prove in this study.

What motivates entrepreneurial entry under economic inequality? The role of human and financial capital

2015 ◽  
Vol 68 (7) ◽  
pp. 1183-1207 ◽  
Author(s):  
Emanuel Xavier-Oliveira ◽  
André O Laplume ◽  
Saurav Pathak
Keyword(s):  
Economic Inequality ◽  
Financial Capital ◽  
Entrepreneurial Entry

Overview of the Issue

2005 ◽  
Vol 4 (1) ◽  
pp. 5-6
Author(s):  
JEFFREY BROWN ◽  
STEVEN HABERMAN ◽  
MOSHE MILEVSKY ◽  
MIKE ORSZAG
Keyword(s):  
Social Security ◽  
Financial Capital ◽  
Research Articles ◽  
Imperfect Markets ◽  
Essential Difference ◽  
Capital Goods ◽  
Review Section ◽  
The Us

This issue features two research articles, three issues & policy articles and a book review section. The first article in the issue is by Berthold Wigger (University of Erlangen-Nuremberg). Wigger's article, “Public Pensions and the Role of Real versus Financial Capital”, revisits the Diamond (1965) model in light of the imperfect markets framework of Magill and Quinzii (2003). Whereas in Diamond (1965), the introduction of a social security system can make a transition generation better off, Wigger derives an equilibrium in imperfect markets in which the outcome is different. The essential difference is that in Diamond's model capital can be changed into consumption goods whereas in the Magill and Quinzii (2003) framework the investment in capital goods such as their housing is irreversible. Though the old benefit from the introduction of social security, the value of their capital goods declines. Hence, the abnormal gains observed by transition generations in social security may be offset elsewhere. This is a potentially relevant result for the US social security debate in which a key focus is how to allocate the legacy burden of social security.

scholarly journals Determinants of Micro-Enterprise Success through Microfinance Institutions: A Capital Mix and Previous Work Experience

2020 ◽  
Vol 21 (2) ◽  
pp. 803-823
Author(s):  
Waseem Ul Hameed ◽  
Hisham Bin Mohammad ◽  
Hanita Binti Kadir Shahar
Keyword(s):  
Social Capital ◽  
Human Capital ◽  
Work Experience ◽  
Financial Capital ◽  
Primary Data ◽  
Research Approach ◽  
Capital Social ◽  
Microfinance Institutions ◽  
Enterprise Success

The prime objective of the study is to highlight the role of the capital mix (financial capital, social capital, human capital) on women micro-enterprise success with moderating role of previous work experience. Women owned micro-enterprise success is less as compared to the male owned micro-enterprsie, particularly in Pakistan. Rate of faliure in women micro-enterpeise is more, that is the reason women community is one of the most vulnerable group worldwide. It is evident from literature that less attention has been paid to highlight the importance of three types of capital for women micro-enterprise. To adress this issue, the current study adopted quantitative research approach and based on cross-sectional research design. Primary data was collected by using 5-point Likert scale. Questionnaires were distributed among the owners of women micro-enterprise in Pakistan by using area cluster sampling. SmartPLS 3 was used to analyze the data. It is found that financial capital, social capital and human capital has significant positive relationship with women micro-enterprise success and previous work experience moderates the relationship. Hence, this study contributed by developing a unique framework for women micro-enterprise success. It will be beneficial for practitioners to enhance women micro-enterprise success rate.

Connecting the Disconnected: The Role of ICT in Women’s Livelihood Restoration in the Resettlement Site Kannagi Nagar in Chennai, India

2021 ◽  
pp. 097542532110402
Author(s):  
Atika Almira ◽  
Maartje van Eerd
Keyword(s):  
Urban Poor ◽  
Financial Capital ◽  
City Centre ◽  
Full Potential ◽  
Ict Use ◽  
The Social ◽  
Information And Communication ◽  
The City

In Chennai, Development-Induced Displacement and Resettlement (DIDR) pushes the urban poor to resettlement sites in the outskirts of the city. One of those sites is Kannagi Nagar, located 15 km from the city centre, in which women suffer from more significant livelihood deprivation. As there is evidence of Information and Communication Technology (ICT) being useful in development, this study aims to explain the role of ICT in the livelihood restoration and enhancement of the social and financial capital for women in Kannagi Nagar. Through a case study with a blend of quantitative and qualitative techniques, the research incorporated a closed-ended questionnaire survey and interviews. Among the women, ICT use is prevalent, however, they have not fully optimized the potentials of ICT for livelihood restoration. The use is still limited to the purpose of maintaining the contacts they already have. However, some women have been able to use ICT, especially through their phones, for the restoration and enhancement of their social and financial capital. Nonetheless, to harness the full potential of ICT and strengthen women’s agency, access to ICT should be improved.

Does Crowdfunding (Creatively) Disturb the Conventional (Banking) Alliances with Support Networks for Financing (Micro-)Entrepreneurs?

2016 ◽  
pp. 228-249 ◽  
Author(s):  
Nathalie Mercier ◽  
Hayyan Alia ◽  
Arvind Ashta ◽  
Maaouia Ben Nasr ◽  
Mihaela Bonescu ◽  
...  
Keyword(s):  
Research Question ◽  
Major Change ◽  
Support Networks ◽  
Financial Capital ◽  
Microfinance Institutions ◽  
Structured Interviews ◽  
Image Building ◽  
Human And Social Capital ◽  
Analysis Point

Microentrepreneurs need financial capital as well as human and social capital. Banks prefer refinancing microfinance institutions and capacity building organizations rather than dealing with microentrepreneurs directly. In this chapter, we examine if the advent of crowdfunding could disturb such relations. Our research question is “what is the perception of people working in support networks on the changing of the relations between banks, support networks and crowdfunding platforms?” In this chapter, we first provide a background on entrepreneurship and coaching in France, emphasizing the role of the entrepreneurial support networks. Thereafter, we present our research methodology based on semi-structured interviews with managers in these support networks. The findings from these interviews are presented in the third section. We find that while the support networks are aware of crowdfunding initiatives, they do not think it will make a major change to the existing relations. This finding is original because most other research seems flabbergasted by the dramatic speed of development of crowdfunding sites. In the fourth section, we analyze the discourse using Nvivo software. The recommendations that emerge from this analysis point to using crowdfunding more as a tool of image building and communication.

Measuring Inter-Organizational Knowledge Flows

2014 ◽  
pp. 129-143 ◽  
Author(s):  
Marco Giuliani
Keyword(s):  
Development Process ◽  
Organizational Context ◽  
Joint Venture ◽  
Organizational Knowledge ◽  
Knowledge Flows ◽  
Financial Capital ◽  
Process Knowledge ◽  
A Value

This chapter develops the discussions about knowledge measurements in an inter-organizational context. More in depths, the role of knowledge measurements is investigated not regarding a single organization but within a Joint Venture (JV) development process. The main findings of this study are the following. First, it emerges that a JV can be a value-conversion device, i.e. a way of transforming knowledge into financial capital in a visible way. Second, within a JV development process, knowledge measurements assume different purposes and arise different accounting challenges in dependence of the phase in which the JV is (find, design or manage). Moreover, it emerges that the implementation of specific indicators allows better controlling of the knowledge inflows and outflows.

scholarly journals On the Edge in Rural Canada: The Changing Capacity and Role of the Voluntary Sector

2014 ◽  
Vol 5 (1) ◽  
Author(s):  
Laura Ryser ◽  
Greg Halseth
Keyword(s):  
Financial Capital ◽  
Management Systems ◽  
Voluntary Organizations ◽  
Institutional Barriers ◽  
Capital Humain ◽  
Information Management Systems ◽  
Policies And Programs ◽  
Changing Role ◽  
Smart Infrastructure

ABSTRACT Since the 1980s, neoliberal policies have downsized or closed rural and small-town services. In response, voluntary groups have played an increasing role to retain basic supports. How voluntary groups are impacted, and how they react, will affect community development. Drawing upon our research across northern BC and Canada, this article explores the changing role of voluntary groups, with a focus on the structural and institutional barriers impeding their renewal. Our research suggests that voluntary organizations have been diversifying their human and financial capital, expanding partnerships, and developing smart infrastructure to enhance their capacity. More place-based policies and programs are needed to: renew relationships; create synergies; stabilize operations; renew mandates and procedures; develop training supports; enhance development expertise; build diversity, capacity, and support for volunteers; and develop information management systems.   Résumé Depuis les années 80, des politiques néolibérales ont entraîné la diminution ou l’élimination de divers services dans les communautés rurales. En conséquence, les groupes bénévoles ont joué un rôle grandissant dans la préservation de services de base. Le traitement des bénévoles et leurs réactions face à ce traitement ont ainsi un impact sur le développement communautaire. Cet article a recours à notre recherche dans le nord de la Colombie-Britannique et ailleurs au Canada pour explorer le rôle changeant des groupes bénévoles dans un contexte où des défis structurels et institutionnels peuvent nuire à leur renouveau. Notre recherche laisse entendre que, pour accroître leurs capacités, les organisations bénévoles sont en train de diversifier leur capital humain et financier, augmenter le nombre de leurs partenariats et développer une infrastructure intelligente. Il faut davantage de politiques et programmes qui tiennent compte du milieu afin de : renouveler les relations; créer des synergies; stabiliser les opérations; reformuler les mandats et procédures; appuyer les activités de formation; accroître l’expertise en développement; augmenter l’aide aux bénévoles ainsi que leur diversité et leurs capacités; et développer de meilleurs systèmes de gestion de l’information.

scholarly journals Asset or Liability? The Role of the Financial System in the Political Economy of China's Rebalancing

2013 ◽  
Vol 42 (4) ◽  
pp. 73-104 ◽  
Author(s):  
Julian Gruin
Keyword(s):  
Banking Sector ◽  
Qualitative Interviews ◽  
Financial System ◽  
Growth Strategy ◽  
Financial Capital ◽  
The Political ◽  
Real Economy ◽  
State Institutions ◽  
Economic Development And Growth

China's financial system, dominated by the banking sector, has played a central role in the development of an imbalanced trajectory of economic development and growth. As one of the primary mechanisms for implementing decisive macro-economic policy, the banking sector has hitherto served the Chinese growth strategy well in actively allocating capital towards the investment and export sectors, whilst proving capable of managing the macro-economic ramifications of this highly interventionist strategy. However, the role of the financial system in this growth strategy is also rooted in the requirement that authority over financial capital remains closely tied to state institutions and policies, due to elite concern over politico-economic instability. Based on policy analysis and qualitative interviews conducted in mid-2012, the article suggests that whilst the structure of the financial system was conducive to fostering the growth of the real economy, it will hold back not the need for rebalancing, but rather the process of rebalancing itself.

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