Belarus-Russia unification too complex for swift deal

2021 ◽  
Keyword(s):  
Content Type ◽  
The Road ◽  
Significant Step ◽  
Road Maps ◽  
The Eu

Significance The summit appeared to mark a significant step forward: as at previous meetings, the two leaders said the 'road maps' to integration were more or less complete, even though they signed no agreements. Although military union is not on the current agenda, joint defence arrangements are emerging incrementally. Impacts Opposition leader Svyatlana Tsikhanouskaya will continue drawing Western attention to Belarus. The deliberate funneling of migrants to Poland and Lithuania creates a new area for tension with the EU. Russia wants Lukashenka to recognise its annexation of Crimea, but he will withhold this as leverage.

Risks of armed conflict are mounting in Venezuela

2019 ◽  
Keyword(s):  
Security Council ◽  
Armed Forces ◽  
The United States ◽  
Political Conflict ◽  
Content Type ◽  
The Road ◽  
Rapid Decomposition ◽  
Ongoing Support ◽  
Official Recognition ◽  
The Eu

Significance The political conflict in Venezuela appears to be moving decisively in favour of the opposition, with vocal, official recognition from the United States, Canada, Brazil, the EU and the Organization of American States (OAS) for ‘interim president’ Juan Guaido. However, expectations of rapid decomposition of the Maduro government have proved optimistic, most particularly given the ongoing support for Maduro from the Venezuelan armed forces. Even if the situation unravels quickly and Maduro takes flight, the road ahead remains perilous. Impacts The Venezuelan military is the critical actor; an institutional declaration for Guaido would render Maduro’s position untenable. Amid intense speculation of a US-backed military intervention, Washington has called for a weekend meeting of the UN Security Council. Russia and China have issued statements supportive of Maduro and are expected to block US efforts to convene the Security Council.

scholarly journals Overcoming the capital investment hurdle in worker-controlled firms

2019 ◽  
Vol 2 (2) ◽  
pp. 133-150
Author(s):  
Guy Major ◽  
Jonathan Preminger
Keyword(s):  
Capital Investment ◽  
Value Added ◽  
Employee Ownership ◽  
Workplace Democracy ◽  
Equity Investment ◽  
Content Type ◽  
Academic Literature ◽  
Worker Ownership ◽  
Significant Step ◽  
Average Worker

Purpose Both the academic literature and practitioners have long noted the need for an equity investment mechanism for worker-controlled firms that alleviates investor anxieties without undermining internal workplace democracy. The purpose of this paper is to outline one such possible mechanism. Design/methodology/approach The proposal locks together the interests of workers and external investors, via non-voting shares with dividends set by a pre-agreed value-added sharing formula. Each worker is paid a base wage, with the average across the firm being a pre-defined multiple of the national minimum wage. Any additional surplus is split into a number of equal “slices”, with each share receiving one slice as its dividend, and the average worker receiving a pre-agreed number of slices as a bonus. Findings Workers have an incentive to maximise their own incomes, and in so doing, will also automatically maximise the dividends received by investors, obviating the need for the shares to have normal voting rights. Working on this principle of aligned interests, the authors also discuss reinvestment, worker ownership of non-voting shares and possibilities for a secondary share market. The authors show how this proposal will be a significant step in aligning the interests of investors with owner-workers in a democratic, negotiated way that shares both risk and returns, thus making worker-controlled firms more attractive to equity investment. Originality/value In light of the recognised problem of underinvestment in worker-controlled firms and the risk of their degeneration, this paper will interest both academics and practitioners in employee ownership, co-operatives and various forms of workplace democracy.

Corporate social responsibility and earnings management in the EU: a panel data analysis approach

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Panagiotis E. Dimitropoulos
Keyword(s):  
Corporate Social Responsibility ◽  
Panel Data ◽  
Social Responsibility ◽  
Earnings Management ◽  
Financial Reporting ◽  
Negative Association ◽  
Content Type ◽  
Corporate Social ◽  
The Eu

Purpose Over the past decades, corporate social responsibility (CSR) has been considered as a significant corporate strategy and also has been documented as a main information dissemination mechanism of corporations to shareholders, creditors and other external stakeholders. This fact makes the CSR activities and CSR performance interconnected with the quality of firms’ financial reporting. The purpose of this paper is to study the impact of CSR performance on the earnings management (EM) behaviour using a sample from 24 European Union (EU) countries summing up to 121,154 firm-year observations over the period 2003–2018. Design/methodology/approach The study uses a multi-country data set with various dimensions of CSR performance including indexes regarding workforce, community relations, product responsibility and human rights protection. The empirical analysis is conducted with panel data regressions. Findings Evidence supports the negative association between CSR and EM indicating that high CSR performing firms are associated with less income smoothing and discretionary accruals, thus with higher financial reporting quality. Practical implications Regulatory agencies in the EU could use the findings of the study for the improvement of the accounting framework via enhancing the use and publications of social and environmental responsibility information and reports. Social implications Also, the current paper could be of interest not only to academic researchers but also to potential and existing investors in European corporations. The negative association between CSR performance and EM could be used by investors in assessing the risk of firms and the quality and reliability of their financial information. Originality/value This is the first study within the EU, which considers the multi-facet characteristics of CSR on the quality of accounting earnings and offers useful policy implications for regulators and investors.

Mitigation of road traffic crash hazard in Pakistan

2014 ◽  
Vol 23 (5) ◽  
pp. 567-585
Author(s):  
Muhammad Masood Rafi ◽  
Ashar Hashmat Lodi ◽  
Muhammad Arsalan Effendi
Keyword(s):  
Road Traffic ◽  
Evaluation Model ◽  
Road Traffic Crash ◽  
Potential Hazard ◽  
Suggested Model ◽  
Male Population ◽  
Content Type ◽  
The Road ◽  
On The Road ◽  
The City

Purpose – Road traffic crashes (RTCs) result in creating significant social and economic hazard for affectees, their families and society. The purpose of this paper is to present studies which were conducted to study the patterns of RTCs in Karachi which is a metropolitan city of Pakistan. The studies were conducted on one of the busiest roads in the city named as Shara-e-Faisal. The influence and contribution of different factors in RTCs has been studied and hazardous road sections of Shara-e-Faisal have been identified. Based on the data analysis, an evaluation model has been suggested to reduce the hazard of RTCs on Shara-e-Faisal. The objective of the presented studies is to increase the present level of safety of road travel by reducing crashes on Shara-e-Faisal. Design/methodology/approach – Existing data of RTCs in Karachi have been analysed for the presented studies. For this purpose, Shara-e-Faisal was divided in sections of 1 km length to study the vehicle crash pattern. Location surveys were conducted to record physical conditions of this road. A cluster analysis was carried out to identify hazardous sections of the road. An evaluation model has been suggested in the end to reduce the hazard of RTCs by identifying hazardous road sections of Shara-e-Faisal. Findings – The analysis of the data revealed that the crashes were higher over weekend and on Monday. Male population, particularly young people, and motorcycle riders were the largest affectees of RTCs. In general, more daytime crashes were recorded as compared to nighttime crashes. The crashes in the mid block of the road and those involving rear-end collisions were higher. The hazardous road locations were related to poor road conditions. Statistical analysis indicated that alternate routes were required to reduce the RTC hazard on Shara-e-Faisal. Research limitations/implications – The paper is a small, but an original, contribution to identify a potential hazard which is faced by the community in the city. This is the first attempt (to the best of authors’ knowledge) to address the issue of RTCs in Karachi from an engineering view point. Practical implications – The suggested model can be employed by the authorities as a guideline to mitigate the hazard of road crashes in the country. Originality/value – The paper provides valuable information on the road traffic incidents, their pattern and contributing factors in one of the largest metropolis of Pakistan. The suggested model can become helpful in reducing RTCs in Pakistan.

scholarly journals Unemployment and spell duration during the Great Recession in the EU

2015 ◽  
Vol 36 (2) ◽  
pp. 216-235 ◽  
Author(s):  
Carlos Gradín ◽  
Olga Cantó ◽  
Coral del Río
Keyword(s):  
Great Recession ◽  
Negative Impact ◽  
Labour Force ◽  
Future Research ◽  
Cross Sectional ◽  
Content Type ◽  
The Great Recession ◽  
Unemployment Spells ◽  
Practical Implications ◽  
The Eu

Purpose – The purpose of this paper is to analyze the different dynamic characteristics of unemployment in a selected group of European Union countries during the current Great Recession, which had unequal consequences on employment depending on the country considered. Design/methodology/approach – The paper follows Shorrocks’s proposal of a duration-sensitive measure of unemployment, and uses cross-sectional data reported by Eurostat coming from European Labour Force Surveys. Findings – The results add some evidence on the relevance of incorporating spells’ duration in measuring unemployment, finding remarkable differences in unemployment patterns in time among European countries. Research limitations/implications – In this paper unemployment is analyzed for all the labor force. Future research should investigate patterns across specific groups such as young people, women, immigrants or the low skilled. Practical implications – It is generally accepted that the negative impact of unemployment on individual welfare can be very different depending on its duration. However, conventional statistics on unemployment do not adequately capture to what extent the recession is not only increasing the incidence of unemployment but also its severity in terms of duration in time of ongoing unemployment spells. The paper shows an easy and practical way to do it in order to improve the understanding of the unemployment phenomenon, using information usually reported by statistical offices. Originality/value – First, the paper provides a tool for dynamic analysis of unemployment based on reported cross-sectional data. Second, the paper demonstrates the empirical relevance of considering spells’ duration when assessing differences in unemployment across countries or in unemployment trends. This is usually neglected or only partially addressed by most conventional measures of unemployment.

The international strength of the euro will grow

2021 ◽  
Keyword(s):  
Euro Area ◽  
Financial Services ◽  
Raw Materials ◽  
Domestic Demand ◽  
Content Type ◽  
The Us ◽  
Us Dollar ◽  
Strategic Autonomy ◽  
Geopolitical Risks ◽  
The Eu

Significance The proposals identified areas where the euro could potentially become more dominant, such as the issuance of green bonds, digital currencies, and international trade in raw materials and energy. Ambitions to enhance the international leverage of the euro are being driven by the aim to strengthen EU strategic autonomy amid rising geopolitical risks. Impacts Developing its digital finance sector would be an opportunity for the EU to enhance its strategic autonomy in financial services. Challenging the US dollar would require the euro-area to rebalance its economy away from foreign to domestic demand. Member state division will prevent the economic reconfiguration the euro-area needed to make the euro a truly global currency.

Germany’s coalition faces division on several fronts

2021 ◽  
Keyword(s):  
Decision Making ◽  
Foreign Policy ◽  
Policy Decision ◽  
Public Image ◽  
Economic Recovery ◽  
Content Type ◽  
Strong Emphasis ◽  
Investment Agreement ◽  
Policy Decision Making ◽  
The Eu

Significance The three parties successfully negotiated a coalition agreement with a strong emphasis on modernising Germany’s economy. Throughout the negotiations, the parties presented a public image of stability and harmony, yet several divisive issues will test the new government's stability and effectiveness. Impacts The composition of the new government will make it harder for Berlin to win approval for the EU-China Comprehensive Investment Agreement. Chancellor Olaf Scholz will seek to prioritise more unity at the EU level when it comes to foreign policy decision-making. The spread of the Omicron variant will slow economic recovery and potentially delay the transition to a greener economy.

Gap between France’s Macron and Le Pen is narrowing

2021 ◽  
Keyword(s):  
Public Support ◽  
Fiscal Rules ◽  
Terrorist Attacks ◽  
Law And Order ◽  
Content Type ◽  
Investment Agreement ◽  
State Investment ◽  
The Eu

Significance Nevertheless, Le Pen remains the most serious threat to President Emmanuel Macron's hopes for re-election in 2022. She stands above him in some national polls, reflecting her success in broadening RN’s appeal, widespread anti-establishment sentiment and Macron’s unpopularity and mixed record on COVID-19. Impacts To revive the economy, Macron will likely campaign for reform of EU fiscal rules to enable greater levels of state investment. Further terrorist attacks or assaults on police would increase the salience of immigration and law and order ahead of the 2022 election. Ahead of the election, Macron will be reluctant to show public support for the EU-China investment agreement.

Analysis of the implementation of the first stage of the national technology initiative based on the results of the examination of projects of its «Road maps»

2021 ◽  
pp. 121-133
Author(s):  
O.V. Vikulov ◽  
Yu.L. Rybakov
Keyword(s):  
Technology Initiative ◽  
The Road ◽  
Road Maps ◽  
National Technology

The article examines the results of the first stage of the implementation of the projects of the «road maps» of the National Technology Initiative, summarizes the results and identifies the prospects for their commercialization and scaling.

EU bonds will rival German Bunds as a safe asset

2021 ◽  
Keyword(s):  
Euro Area ◽  
Safe Haven ◽  
Content Type ◽  
The World ◽  
The Creation ◽  
Over Time ◽  
The Eu

Significance This could create an alternative benchmark safe-haven asset to rival German Bunds within the region. As part of its issuance plans, the EU intends to issue at least EUR50bn in green bonds annually, which is likely to make it the world’s largest issuer of these bonds. Impacts The increased importance of EU bonds over time will help to support the euro's value and could eventually put pressure on the dollar. The EU is leading the world in green bond issuance, but the risk of spurious environmental claims (‘greenwashing’) must be managed. The creation of new EU bonds will help reduce the funding costs of riskier euro-area members such as Italy.

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