The Impact of Legislative Changes and Regulatory Guidance on Proactive Dissemination of Healthcare Economic Information: Payers’ Experiences Pre and Post Product Approval

The Basel III Leverage Ratio, as originally agreed upon in December 2010, has recently undergone revisions and updates – both in relation to those proposed by the Basel Committee on Banking Supervision – as well as proposals introduced in the United States. Whilst recent proposals have been introduced by the Basel Committee to improve, particularly, the denominator component of the Leverage Ratio, new requirements have been introduced in the U.S to upgrade and increase these ratios, and it is those updates which relate to the Basel III Supplementary Leverage Ratio that have primarily generated a lot of interests. This is attributed not only to concerns that many subsidiaries of US Bank Holding Companies (BHCs) will find it cumbersome to meet such requirements, but also to potential or possible increases in regulatory capital arbitrage: a phenomenon which plagued the era of the original 1988 Basel Capital Accord and which also partially provided impetus for the introduction of Basel II. This paper is aimed at providing an analysis of the recent updates which have taken place in respect of the Basel III Leverage Ratio and the Basel III Supplementary Leverage Ratio – both in respect of recent amendments introduced by the Basel Committee and proposals introduced in the United States. As well as highlighting and addressing gaps which exist in the literature relating to liquidity risks, corporate governance and information asymmetries, by way of reference to pre-dominant based dispersed ownership systems and structures, as well as concentrated ownership systems and structures, this paper will also consider the consequences – as well as the impact - which the U.S Leverage ratios could have on Basel III. There are ongoing debates in relation to revision by the Basel Committee, as well as the most recent U.S proposals to update Basel III Leverage ratios and whilst these revisions have been welcomed to a large extent, in view of the need to address Tier One capital requirements and exposure criteria, there is every likelihood, indication, as well as tendency that many global systemically important banks (GSIBS), and particularly their subsidiaries, will resort to capital arbitrage. What is likely to be the impact of the recent proposals in the U.S.? The recent U.S proposals are certainly very encouraging and should also serve as impetus for other jurisdictions to adopt a pro-active approach – particularly where existing ratios or standards appear to be inadequate. This paper also adopts the approach of evaluating the causes and consequences of the most recent updates by the Basel Committee, as well as those revisions which have taken place in the U.S, by attempting to balance the merits of the respective legislative updates and proposals. The value of adopting leverage ratios as a supplementary regulatory tool will also be illustrated by way of reference to the impact of the recent legislative changes on risk taking activities, as well as the need to also supplement capital adequacy requirements with the Basel Leverage ratios and the Basel liquidity standards.

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OHS Disclosures Within Non-Financial Reports: The Romanian Case

Sustainability ◽

10.3390/su12051963 ◽

2020 ◽

Vol 12 (5) ◽

pp. 1963

Author(s):

Ana Petrina Păun ◽

Codruța Cornelia Dura ◽

Sorin Mihăilescu ◽

Roland Iosif Moraru ◽

Claudia Adriana Isac

Keyword(s):

Financial Reporting ◽

Descriptive Analysis ◽

Health And Safety ◽

Financial Reports ◽

Regional Context ◽

Eu Directive ◽

Sustainability Reports ◽

Legislative Changes ◽

Local Companies ◽

The Impact

The article addresses the issue of disclosing Occupational Health and Safety (OHS) issues by corporations in Romania, under the influence of recent changes in the legislative framework imposed by the adoption of the EU Directive 2014/95/EU on non-financial reporting by large corporations exceeding 500 employees. The goal of our study consist in determining the relevant factors that influence the level of the Romanian companies’ OHS disclosure. To this end, we have compiled a sample of 35 organizations that have elaborated and published non-financial reports during 2016–2017 and we have analysed the impact of some relevant determinants upon the reporting phenomenon. With the aim of providing a clear picture of the regional context of our study, we put together many pieces of information regarding the corporations that played the trend-setters role in Romania, by disclosing corporate social responsibility (CSR)/sustainability reports between 2003 and 2017, although this practice has been characterized by a voluntary and unsteady approach in many cases. The importance of outlining the regional context of the Romanian reporting companies is given by the urge to raise the local managers’ level of awareness towards sustainability issues and to use the recent legislative changes as opportunities to catch up with more advanced EU countries. The research methods used in order to identify the interdependencies established between the key factors involved in the disclosure practices included a mixed quantitative-qualitative approach, and referred to: content analysis of sustainability reports; descriptive analysis of the statistical variables which were taken into consideration; correlation analysis of numerical variables; and the ANOVA method for investigating the interdependencies between the categorical and numerical variables. Among the influencing factors that impact with a greater or lesser intensity the quality of OHS reporting performed by the local companies, the following were highlighted: the corporations’ market share, their field of activity, and the ownership structure.

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RELATIONS BETWEEN HUMAN RIGHTS AND PUBLIC POLICY: A MULTI-CASE STUDY OF THE IMPACT OF THE RECOMMENDATIONS OF THE INTER-AMERICAN COMMISSION ON HUMAN RIGHTS

Revista Direito em Debate ◽

10.21527/2176-6622.2020.54.205-221 ◽

2020 ◽

Vol 29 (54) ◽

pp. 205-221

Author(s):

Sidney Cesar Silva Guerra ◽

Fernanda Tonetto

Keyword(s):

Human Rights ◽

Public Policies ◽

Time Frame ◽

Brazilian State ◽

Legal Nature ◽

Deductive Method ◽

Protection Of Human Rights ◽

Legislative Changes ◽

The Impact

The Inter-American Commission on Human Rights, which appears as one of the OAS organs for the promotion and protection of human rights, with its firm action ends up having significant effects on normative production and the development of public policies in favor of human rights of the Brazilian state. Such action derives from the attributions conferred upon them, in particular those related to the preparation of studies, reports and the proposition of recommendations to the States, as well as the adoption of measures that favor the system of protection of human rights at the domestic level and also as regards to the knowledge of individual petitions and interstate communications that contain denunciations of rights that have been debased. Although the reports issued by the Commission are not binding as they don’t have the legal nature of a decision, it is often noted that when a report is issued against a particular state that there has been a violation of human rights, it ends up employing efforts to change the situation in the country through legislative changes and public policies. The present study intends to analyze some consequences of the reports issued by the Inter-American Commission in face of the Brazilian State whose contrary manifestations count twenty incidences. However, for the purpose of this analysis, which will use the hypothetical-deductive method, where the impact of the recommendations on the internal legal order will be demonstrated, only three cases will be dealt with, since a time frame of the last ten years has been adopted.

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Legal Compliance Systems – a Necessary Mechanism in Organizational Risk Management

Journal of Intercultural Management ◽

10.2478/joim-2019-0024 ◽

2019 ◽

Vol 11 (4) ◽

pp. 81-99

Author(s):

Gabriela Stradomska ◽

Alicja Tołwińska ◽

Walter Kegö

Keyword(s):

Risk Management ◽

Value Added ◽

Management Systems ◽

Legal Compliance ◽

Compliance Management ◽

Legal Norms ◽

Organizational Risk ◽

Legislative Changes ◽

And Function ◽

The Impact

Abstract Objective: Compliance is currently seen as an integral structure of managing financial organizations and it is widely gaining popularity in other types of companies. However, despite model solutions being widespread across the world, there are still many problems due to the lack of effective business compliance management systems meeting the expectations of managers or executives. This is caused by not only incessant legislative changes, but also the multilateral character and function of compliance norms in legal practice and theory. The research purpose of this theoretical dissertation is to demonstrate that legal compliance management systems are a necessary tool for organizational risk management, both formally and practically. Methodology: This research intends to study the impact of compliance on effectiveness of administrative bodies and private sector participants as part of the methodology in the form of a theoretical article Findings: The initial hypothesis states that normative compliance first introduced in financial institutions is becoming an organizational standard in risk management, directly affecting the quality and systemic management processes. Value Added: This article discusses the theoretical meaning and functions of compliance, in terms of both EU law and one of its member states, namely Poland. The choice of Poland as the subject of the study in comparison with the EU is motivated by the fact that this year Poland enforced a rather strict system of legal norms, comprising a broad code of compliance as part of the draft act on the responsibility of collective entities. Recommendations: The system of legal compliance is a necessary mechanism of risk management in organizations, in both formal and practical sense, immediately strengthening the very traditional functions of management.

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Development of the Near Vision Presbyopia Task-based Questionnaire for use in evaluating the impact of presbyopia

Journal of Patient-Reported Outcomes ◽

10.1186/s41687-021-00378-y ◽

2021 ◽

Vol 5 (1) ◽

Author(s):

Elaheh Shirneshan ◽

Cheryl D. Coon ◽

Nathan Johnson ◽

Jonathan Stokes ◽

Ted Wells ◽

...

Keyword(s):

Reading Ability ◽

Alternative Assessment ◽

Patient Reported Outcome ◽

Good Test ◽

Specific Patient ◽

Near Vision ◽

Regulatory Guidance ◽

Patient Reported ◽

The Impact ◽

Domain Scores

Abstract Background Presbyopia is a progressive condition that reduces the eye’s ability to focus on near objects with increasing age. After a systematic literature review identified no existing presbyopia-specific patient-reported outcome (PRO) instruments meeting regulatory guidance, a new PRO instrument, the Near Vision Presbyopia Task-based Questionnaire (NVPTQ), was developed. Results To explore the patient experience with presbyopia, concept elicitation interviews were conducted with 20 presbyopic participants. The most frequently reported impacts were difficulty with reading menus/books/newspapers/magazines, reading on a cell phone/caller ID, and reading small print. Based on these results, a task-based PRO instrument (the NVPTQ) was developed instructing participants to complete four near-vision, paper-based reading tasks (book, newspaper, nutrition label, menu) under standardized settings, and subsequently assess their vision-related reading ability and associated satisfaction. The draft NVPTQ was cognitively debriefed with a sample of 20 presbyopes, which demonstrated that most participants interpreted the items as intended and endorsed the relevance of the concepts being assessed. After the qualitative research, the draft instrument was psychometrically tested using data from a Phase 2 study. Based on item-level analyses, all items in the NVPTQ demonstrated expected response option patterns and lacked substantial floor or ceiling effects. The reliability, validity, and responsiveness of the NVPTQ Performance and Satisfaction domain scores were assessed. All domains scores had large Cronbach’s coefficient α values and good test–retest statistics, indicating that the scores are internally consistent and produce stable values over time. The pattern of correlations with a concurrent measure of visual functioning (National Eye Institute Visual Function Questionnaire 25) demonstrated that the NVPTQ domain scores were related to an alternative assessment of near-vision activities. The NVPTQ domain scores were able to distinguish between groups that were known to differ on the clinical outcome of uncorrected near visual acuity, supporting the construct validity of these scores. The NVPTQ domain scores showed evidence of responsiveness to change by being able to distinguish between groups defined as improved and not improved based on patient-reported and clinical outcomes. Conclusions This research has resulted in a content-valid and psychometrically sound instrument designed to evaluate vision-related reading ability and satisfaction with vision-related reading ability. Trial registration: ClinicalTrials.gov NCT02780115. Registered 23 May 2016, https://www.clinicaltrials.gov/ct2/show/NCT02780115?term=NCT02780115&draw=2&rank=1.

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OPPORTUNITIES AND PROSPECTS OF INSURANCE COMPANIES DEVELOPMENT IN UKRAINE UNDER THE COVID-19 PANDEMIC

State and regions. Series: Economics and Business ◽

10.32840/1814-1161/2021-3-17 ◽

2021 ◽

Author(s):

Iryna Honcharenko ◽

Nataliia Dudchenko

Keyword(s):

World Economy ◽

Insurance Market ◽

Free Movement ◽

Insurance Companies ◽

Current Crisis ◽

Internal Factors ◽

Current State ◽

The Government ◽

Legislative Changes ◽

The Impact

The current state, opportunities and prospects of development of the insurance services market in Ukraine are reviewed in the article. Various factors and objective circumstances influence on the development of the world and national insurance services markets. The priority feature of the national and world economy development during recent years is the globalization of financial institutions. The capitals’ movement is the substantial basis of integration and globalization processes. The insurance market is an integral part of the national financial market, so it primarily affected by globalization. This market reacts almost instantly to dynamic processes in the global economic environment and reflects the main trends that determine the formation of modern insurance space. Current crisis differs from the previous one by the significant restrictions for free movement due to the pandemic. The aim of the study is to estimate the most necessary adaptive and transformational changes for insurance companies to ensure their functioning in Ukraine taking in account factors caused by the pandemic. The domestic insurance market has many negative challenges. The issue of quarantine imminent consequences and it affection on the participants of the insurance market is equally important. The limitations and restrictions for the free movement is the main feature of crisis under the pandemic. The impact of external and internal factors on insurance market activity in Ukraine analyzed. The decreasing of the number of insurance companies through objectively-direct consequences of pandemic determined. The set of the medical insurance programs aimed at the case of COVID -19 that offered by Ukrainian insurance companies reviewed. Results of the operating insurance programs estimated. The legislative changes in the insurance sphere caused by a pandemic analyzed. All necessary measures for defense and support people in pandemic implemented by the government. The current and potential threats & possibilities that allow to save and fix insurance companies positions at the insurance services market grounded.

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The Impact of Legislative Changes on the Number of Calls to the Romanian Covid 19 Telverde Helpline

Acta Medica Transilvanica ◽

10.2478/amtsb-2021-0002 ◽

2021 ◽

Vol 26 (1) ◽

pp. 6-8

Author(s):

Mihai Buzatu ◽

Georgeta Dinculescu ◽

Florentina Ligia Furtunescu ◽

Dana Galieta Mincă

Keyword(s):

Public Health ◽

The State ◽

Green Line ◽

Ministry Of Health ◽

State Of Emergency ◽

Telephone Calls ◽

Legislative Changes ◽

The Impact

Abstract On 24th of February 2020, the Ministry of Health in Romania announced the operationalization of the Green Line, known as Telverde, within the National Institute of Public Health, in order to provide citizens with information related to the prevention of Sars-Cov-2 infection. The number of registered calls increased considerably at the time of the declaration of the pandemic, the beginning and the cessation of the state of emergency and during the issuance of military ordinances. Different key periods were studied and compared so that we could determine if the major administrative and legislative events have influenced the number of registered calls. Our findings sustained the supposition that the major events that took place during this period have indeed influenced the number of telephone calls made to TelVerde helpline.

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Managing quality of cost information in clinical costing: evidence across seven countries

Journal of Public Budgeting Accounting & Financial Management ◽

10.1108/jpbafm-09-2020-0155 ◽

2021 ◽

Vol ahead-of-print (ahead-of-print) ◽

Author(s):

Christopher S. Chapman ◽

Anja Kern ◽

Aziza Laguecir ◽

Gerardine Doyle ◽

Nathalie Angelé-Halgand ◽

...

Keyword(s):

Design Methodology ◽

Cost Information ◽

Content Type ◽

Regulatory Guidance ◽

Trade Offs ◽

Similar Range ◽

Different Dimensions ◽

The Cost ◽

The Impact

PurposeThe purpose is to assess the impact of clinical costing approaches on the quality of cost information in seven countries (Denmark, England, France, Germany, Ireland, the Netherlands and Portugal).Design/methodology/approachCosting practices in seven countries were analysed via questionnaires, interviews and relevant published material.FindingsAlthough clinical costing is intended to support a similar range of purposes, countries display considerable diversity in their approaches to costing in terms of the level of detail contained in regulatory guidance and the percentage of providers subject to such guidance for tariff setting. Guidance in all countries involves a mix of costing methods.Research limitations/implicationsThe authors propose a two-dimensional Materiality and Quality Score (2D MAQS) of costing systems that can support the complex trade-offs in managing the quality of cost information at both policy and provider level, and between financial and clinical concerns.Originality/valueThe authors explore the trade-offs between different dimensions of the quality (accuracy, decision relevance and standardization) and the cost of collecting and analysing cost information for disparate purposes.

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Valued Added Tax (VAT) Impact on Economic and Societal Well-Beings (Pre-and Post COVID19): A Perception Study From Saudi Arabia

International Journal of Financial Research ◽

10.5430/ijfr.v12n1p92 ◽

2020 ◽

Vol 12 (1) ◽

pp. 92

Author(s):

Siti Norwahida Shukeri ◽

Faisal D Alfordy

Keyword(s):

Saudi Arabia ◽

Income Inequality ◽

Value Added ◽

Tax System ◽

Income Source ◽

Oil Reserves ◽

Consumption Behaviour ◽

Younger Generation ◽

Legislative Changes ◽

The Impact

The Kingdom of Saudi Arabia (KSA) has realized that merely relying on oil reserves, as the main income source will stop the country from achieving sustainable economic growth due to the instability of world oil market prices and its uncertainties. Hence, the first Value Added Tax (VAT) has been introduced in KSA in 2018 following to the urge by International Monetary Fund (IMF). However, VAT implementation in the Kingdom is not free from criticisms since its citizens, particularly younger generation, have been used to tax-free livings. In addition, the global health pandemic of COVID19 has hit major economies worldwide. In correspondence, KSA has decided to increase its VAT rate to 15% from 5% by the 1st of July 2020, which may suggest a different pattern of consumption behaviour since the rate has been drastically increased. Therefore, this study aims to examine the perception of Saudi younger generation on the acceptance of VAT based on five categorical factors underlying Saudi younger generation’s level of acceptance or rejection of VAT, namely; tax system effectiveness (TSE), income generation sources (IGS), income inequality (II), system knowledge (SK) and global practice (GP). The study also is set to examine the impact of VAT on Saudi younger generation’s consumption behaviour. Using a sample of 460 respondents, the findings reveal that most of the respondents (89.6%) are aware of VAT implementation. However, the negative perceptions found from the analysis shows that VAT is not an efficient tax system to be implemented (average TSE = 45.6% less favourable) as the VAT system does not provide income inequality among citizens (average II= 45.3 percent less favourable). Moreover, the results also show that VAT implementation does not affect the consumption behaviour, suggesting that Saudi younger generation still spends regardless of VAT. Limited studies among the GCC academics on VAT has motivated this research to be among the first attempt to document such impact and to consider it in lights of new legislative changes due to COVID-19. Hence, this study is both timely and relevant to provide new understandings to responsible authorities regarding its VAT system, its acceptance and impacts on consumption behaviour in lights of COVID-19.

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