Rent Extraction by Super-Priority Lenders

2019 ◽  
Author(s):  
B. Espen Eckbo ◽  
Kai Li ◽  
Wei Wang
Keyword(s):  
Rent Extraction

Multi-component complex ores: Special aspects of using ad valorem and specific mineral extraction tax rates

2020 ◽  
Vol 26 (6) ◽  
pp. 1297-1314
Author(s):  
T.A. Loginova
Keyword(s):  
Krasnoyarsk Krai ◽  
Tax Rates ◽  
Russian Regions ◽  
Rent Extraction ◽  
Effective Tax Rate ◽  
Mineral Extraction ◽  
Tax Rate ◽  
Significant Differentiation ◽  
The Russian Federation ◽  
Ad Valorem

Subject. This article discusses the issues related to the taxation for multi-component complex ores and commercial components using ad valorem and specific mineral extraction tax (MET) rates. Objectives. The article aims to assess some results of the application of specific MET rates in the Krasnoyarsk Krai and ad valorem rates in other subjects of the Russian Federation, taking into account the specifics of the current taxation procedure for multi-component complex ores and their commercial components. Methods. For the study, I used a comparative analysis, synthesis, and the method of extrapolation. Results. The article shows that the change in the type of MET rate for multi-component complex ores and commercial components has led to a significant increase in the effective tax rate. This led to an increase in the corresponding MET revenues in the Krasnoyarsk Krai. The article also substantiates that the introduction of specific rates in other Russian regions requires a significant differentiation of specific MET rates. However, this is risk-bearing concerning unfair distribution of the tax burden and the complexity of tax administration. Conclusions. The issue of identifying multi-component complex ores and their commercial components is controversial. Extending specific MET rates to other regions may complicate the mechanism of rent extraction.

Capital Switching and the Role of Ground Rent: 1 Theoretical Problems

1989 ◽  
Vol 21 (4) ◽  
pp. 445-462 ◽  
Author(s):  
R J King
Keyword(s):  
Social Change ◽  
Housing Market ◽  
Capital Accumulation ◽  
The State ◽  
Social Conditions ◽  
Rent Extraction ◽  
Economic Sectors ◽  
Speculative Investment ◽  
Capital Switching

The flow of both productive and speculative investment into housing relates to the state of capital accumulation in other economic sectors, as hypothesised in the ‘circuits of capital’ argument, but it also relates to the incentive to ‘switch’ investment into and out of housing, and therefore to expectations of ground rent and the (changing) social conditions that enable ground rent extraction. This is the first of three papers in which the relationships involved in these processes are explored. A series of theoretical problems arising from the argument are dealt with, principally relating to its seeming economic determinism and to an inappropriately narrow treatment of crisis and social change. In the subsequent papers, in this journal, these various ideas will be used to reflect on housing market and related social change in Melbourne from the 1930s to the 1980s.

scholarly journals Extract Or Not Extract? The Effect of Familism on Stock Option Plans

2016 ◽  
Vol 11 (5) ◽  
pp. 82 ◽  
Author(s):  
Claudia Arena ◽  
Simona Catuogno ◽  
Alessandro Cirillo ◽  
Luca Pennacchio
Keyword(s):  
Family Involvement ◽  
Family Firms ◽  
Stock Option ◽  
Policy Implications ◽  
Minority Shareholders ◽  
Rent Extraction ◽  
Strike Price ◽  
Listed Firms ◽  
Market Index ◽  
Managerial Positions

<p>There is an ongoing debate in managerial literature regarding the aim of stock option plans (SOPs). In this paper we analyse whether and to what extent the family involvement in ownership and managerial positions affects the use of SOPs as tools to extract rents. By examining a sample of plans issued by Italian listed firms, we classify the SOPs according to their characteristics (i.e. vesting period, lock-up, strike price, market index) and identify three different clusters namely Rent SOPs, Non-Rent SOPs, Hybrid. After controlling for CEO family, board size, equity owned by minority shareholders, and other firm-specific characteristics, we find that family firms are less likely to adopt SOPs for rent extraction purpose. We also find that SOPs specifically granted to family members are less likely to pursue rent extraction goals. Our findings are robust against different specifications of family firms. This paper offers important theoretical contributions to management research and insightful policy implications for all family owned listed firms.</p>

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