The Impact of Video Gaming Terminals on Casinos and State and Local Tax Revenue

2020 ◽  
Vol 48 (5) ◽  
pp. 650-675
Author(s):  
Erin Hazel Phipps ◽  
Mark W. Nichols ◽  
Federico Guerrero
Keyword(s):  
Negative Impact ◽  
Ordinary Least Squares ◽  
Casino Gambling ◽  
Video Gaming ◽  
Tax Revenue ◽  
Causality Test ◽  
Vector Autoregressive ◽  
The Past ◽  
State And Local ◽  
The Impact

In 2012, Illinois passed legislation allowing video gaming terminals (VGTs) outside of casinos. This legislation was passed to increase tax revenues from gambling in a market that had seen decreases in revenues and admissions over the past 8 years. VGTs may substitute for casino gambling and have a negative impact on casino and tax revenue. Using ordinary least squares and vector autoregressive models, we find that casino slot revenues decrease by about 0.05 percent for each 1 percent increase in VGT revenues. Admissions decrease by about eleven people per VGT. A Granger causality test suggests causation is running from VGTs to admissions. Thus, there is substitution between VGTs and casino gambling but not so large as to reduce tax revenue. Overall tax revenue from gambling, both casino and VGT, has increased for Illinois. However, local communities where casinos are located have experienced declines in casino tax revenue that have exceeded the gains from VGT revenue.

Fiscal Deficit and Economic Growth in Bangladesh

2016 ◽  
Vol 62 (1) ◽  
pp. 31-42 ◽  
Author(s):  
Ebney Ayaj Rana ◽  
Abu N. M. Wahid
Keyword(s):  
Economic Growth ◽  
Budget Deficit ◽  
Negative Impact ◽  
Political Stability ◽  
Ordinary Least Squares ◽  
Policy Implications ◽  
Government Budget ◽  
The Government ◽  
The Impact ◽  
Government Budget Deficit

The economy of Bangladesh is currently going through a period of continuous budget deficit. The present data suggest that the government budget deficit, on average, is nearly 5% of the country’s GDP. This has been true since the early 2000s. To finance this deficit, governments have been borrowing largely from domestic and foreign sources resulting in inflationary pressure on one hand, and crowding out of private investments on the other. During the same period, although the economy has grown steadily at a rate of more than 6%, this growth is less than the potential. This article presents an econometric study of the impact of government budget deficits on the economic growth of Bangladesh. We conduct a time-series analysis using ordinary least squares estimation, vector error correction model, and granger causality test. The findings suggest that the government budget deficit has statistically significant negative impact on economic growth in Bangladesh. Policy implications of our findings include reestablishing the rule of law, political stability in the country, restructuring tax structure, closing tax loopholes, and harmonizing fiscal policy with monetary policy to attract additional domestic and foreign investment.

scholarly journals Profitability Determinants of Big European Banks

2021 ◽  
Vol 10 (2) ◽  
pp. 39-56
Author(s):  
Vesna Karadžić ◽  
Nikola Đalović
Keyword(s):  
Fixed Effects ◽  
Negative Impact ◽  
Ordinary Least Squares ◽  
Annual Data ◽  
The European Union ◽  
Macroeconomic Factors ◽  
Panel Models ◽  
Econometric Methods ◽  
Gdp Growth Rate ◽  
The Impact

Abstract The subject of research in this paper is the profitability of the biggest banks in the European financial market, some of which operate in Montenegro. The profitability of banks is influenced by a large number of factors, including internal banking and external macroeconomic factors. The aim of this paper is to use statistical and econometric methods to examine which factors and with what intensity affect the profitability of large banks in Europe. The empirical analysis used highly balanced panel models with annual data on 47 large banks from 14 European countries over the period 2013-2018. Three static panel models were estimated and evaluated (pooled ordinary least squares, model with fixed effects and model with random effects), as well as dynamic model utilizing general methods of moments. The POLS model was chosen as the best, confirming that all macroeconomic factors have a statistically significant impact on the profitability of big banks, while the impact of internal factors, which are controlled by the bank’s management, is not significant. GDP growth rate, inflation rate and market concentration have a positive effect on profitability, while the membership of the European Union has a negative impact on profit, meaning that banks with headquarters outside the EU are more profitable.

scholarly journals Tax revenue and private domestic investment

2019 ◽  
Vol 1 (2) ◽  
pp. 25-32
Author(s):  
Richard Umeokwobi ◽  
Emeka Nkoro
Keyword(s):  
Ordinary Least Squares ◽  
Tax Revenue ◽  
Domestic Investment ◽  
Secondary Sources ◽  
Used Oil ◽  
Distributed Lag ◽  
Autoregressive Distributed Lag ◽  
Oil Revenue ◽  
Long Run ◽  
The Impact

This paper investigated the impact of tax revenue on private domestic investment in Nigeria from 1980 to 2018 using the modified ordinary least squares- Autoregressive distributed lag (ARDL). The paper used oil revenue, non-oil revenue, and Corporate Income Tax (CIT) as the independent variables while Private Domestic Investment (PDI) is the dependent variable. Oil revenue and non-oil revenue were used as a proxy for oil and non-oil tax. These data were obtained from secondary sources- central Bank of Nigeria, World Bank database and Federal Inland Revenue service statistical bulletin. The result showed that a long-run relationship exists between the aforementioned variables. Also, the paper revealed that oil and non-oil do not have a significant impact on PDI but CIT has a positive and significant impact on PDI. The paper recommends that proper measures/reforms should be put in place in order to reduce the impact of tax on private domestic investment in Nigeria.

It's all in the past: how do colonial legacies between host and home countries affect the expatriate experience?

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Christopher Richardson
Keyword(s):  
Cultural Values ◽  
Negative Impact ◽  
Research Field ◽  
Content Type ◽  
Colonial Legacy ◽  
The Past ◽  
Host Country Nationals ◽  
Practical Experiences ◽  
The Individual ◽  
The Impact

PurposeWithin the expatriation subset of the wider IB literature, the focus of research has been on contemporary contextual factors. The purpose of this paper is to link the present to the past by investigating how the individual expatriate experience may be affected by a colonial legacy between host and home countries.Design/methodology/approachGiven the exploratory nature of this study, a qualitative interview-based approach eliciting thick, detailed descriptions of the practical experiences of seven Japanese expatriate managers working in Malaysia was adopted. These were supplemented by additional interviews with three host-country nationals who work alongside some of the expatriates. The data were analysed through a two-stage coding process.FindingsThe expatriate respondents were largely unanimous in their view that the colonial past between the two countries had no negative impact on their experiences in Malaysia, and the Malaysian interviewees corroborated this. On the contrary, the majority of the expatriates actually spoke positively about their experiences. This was especially true for expatriates in both the tourism and education/research field whose work was linked in some way to the period of Japanese occupation.Research limitations/implicationsThe small, single-context nature of the investigation limits generalisation. There are also many particularities in this study (the nature of Japanese-Malaysian postcolonial relations, cultural values of the Malaysians and Japanese, and so on) that are perhaps not easily relatable to other contexts. Having said this, qualitative research is not always geared towards generalisability but rather towards contextual intricacies and nuances.Originality/valueWhile most of the extant literature on expatriation has examined largely contemporary factors, this paper explores the impact of more historical events on the expatriate experience. Although such events may seem distant from an expatriate's current activities, this study suggests that in certain circumstances, they may have a lingering effect.

The Impact of Performance Management Under Environmental Turbulence

2018 ◽  
Vol 49 (4) ◽  
pp. 441-453
Author(s):  
Obed Pasha ◽  
Theodore H. Poister
Keyword(s):  
Strategic Planning ◽  
Performance Measurement ◽  
Organizational Performance ◽  
Performance Management ◽  
Negative Impact ◽  
Positive Impact ◽  
The United States ◽  
Ordinary Least Squares ◽  
Transit Agencies ◽  
The Impact

Performance management is an established concept in the public sector, with several empirical studies supporting its beneficial impact on organizational performance. Research on performance management, however, is still in initial stages and mostly examines the impact of this practice under stable environmental conditions. This study adds to the literature by analyzing the effect of this system on performance of local transit agencies in a turbulent environment characterized by the Great Recession and its aftermath. Exploratory factor analysis (EFA) on survey responses from 162 local transit agencies in the United States is used to extract the four components of performance management, namely, formal strategic planning, logical incrementalism, performance measurement, and performance information use. Ordinary least squares (OLS) regression analysis shows that an independent use of formal strategic planning and logical incrementalism has a negative impact on organizational performance under turbulence. Performance measurement and a blend of formal strategic planning and logical incrementalism, however, show a positive impact.

Mandatory CSR expenditure and stock return

2020 ◽  
Vol 28 (6) ◽  
pp. 951-975
Author(s):  
Asit Bhattacharyya ◽  
Md Lutfur Rahman
Keyword(s):  
Least Squares ◽  
Stock Returns ◽  
Least Squares Method ◽  
Negative Impact ◽  
Generalized Method Of Moments ◽  
Ordinary Least Squares ◽  
Reverse Causality ◽  
Endogeneity Bias ◽  
Content Type ◽  
The Impact

Purpose India has mandated corporate social responsibility (CSR) expenditure under Section 135 of the Indian Companies Act, 2013 – the first national jurisdiction to do so. The purpose of this paper is to examine the impact of mandated CSR expenditure on firms’ stock returns by using actual CSR spending data, whereas the previous studies mostly focus on voluntary CSR proxied by CSR scores. Design/methodology/approach The authors estimate their baseline regression by using ordinary least squares(OLS) method. Although the baseline regression involving CSR expenditure and stock returns using ordinary least squares method are estimated, endogeneity and reverse causality biases are addressed by using two-stage least squares and generalized method of moments approaches. These approaches contribute mitigating endogeneity bias and biases associated with unobserved heterogeneity and simultaneity. Findings The findings document that mandatory CSR expenditure has a negative impact on firms’ stock returns which supports the “shareholders” expense’ view. This result remain robust after controlling for endogeneity bias and the use of both standard and robust test statistics. The authors however observe that this result holds for the firms with actual CSR expenditure equal to the mandated amount but does not hold for the firms with actual CSR expenditure greater than the mandated amount. Therefore, the authors provide evidence that CSR expenditure’s impact on stock returns depends on whether firms simply comply the regulation or voluntarily chose an amount of CSR expenditure above the mandated amount. Originality/value The primary contribution is to present a valid and robust evidence of negative effect of mandated CSR spending on firms’ stock returns when the mandatory CSR spending rule is already in place. This study contributes by examining the impact of mandated CSR spending on stock during post-implementation period (2015-2017), whereas other studies by Dharampala and Khanna (2018); Kapoor and Dhamija (2017); and Mukherjee et al. (2018) mainly examined the impact of legislation on Indian CSR. The authors use mandated actual CSR expenditure, whereas previous studies mostly focus on voluntary CSR proxied by CSR scores.

The relationship between foreign aid and corruption: a case of selected Asian countries

2019 ◽  
Vol 26 (3) ◽  
pp. 692-704
Author(s):  
Muhammad Ali ◽  
Lubna Khan ◽  
Amna Sohail ◽  
Chin Hong Puah
Keyword(s):  
Least Squares ◽  
Foreign Aid ◽  
Negative Impact ◽  
Panel Cointegration ◽  
Ordinary Least Squares ◽  
Foreign Assistance ◽  
Asian Countries ◽  
Causality Test ◽  
Content Type ◽  
Long Run

Purpose The purpose of this study is to examine the effect of foreign aid (FA) on corruption in selected Asian countries (Pakistan, India, Srilanka and Bangladesh) using the panel data from 2000 to 2014. Design/methodology/approach The author used Levin-Lin-Chu and Im-Pesaran-Shin panel unit root tests to check the stationary properties of the variables. The Pedroni’s and Kao panel cointegration approach was applied to analyze the variable’s long-run relationship. The author used panel dynamic ordinary least squares (PDOLS) and fully modified ordinary least squares (FMOLS) framework to estimate the coefficients of cointegrating vectors. Additionally, the panel granger causality test was performed to check the causal relationship between the variables. Findings The results from PDOLS and FMOLS indicate that FA has a significant negative impact on the level of corruption. This infers that the foreign assistance decrease the level of corruption perception index, hence, more corruption in the country. Originality/value Overall, the study fulfills the need to understand the aid-corruption nexus, particularly in the case of the Asian region.

scholarly journals The impact of urbanization and financial development on electricity intensity in China: Evidence from panel VAR approach

2020 ◽  
Vol 194 ◽  
pp. 03010
Author(s):  
Ruijun Duan
Keyword(s):  
Financial Development ◽  
Negative Impact ◽  
Panel Var ◽  
Policy Makers ◽  
Vector Autoregressive ◽  
Development Policies ◽  
Impact Of Urbanization ◽  
Positive Shock ◽  
The Impact ◽  
Electricity Intensity

This paper aims at exploring the impact of urbanization and financial development on electricity intensity in China during the period 2004-2018. By employing a panel vector autoregressive (VAR) approach, the study finds that the electricity intensity response to one standard deviation shock on urbanization shows a negative impact, and a positive shock to financial development initially increases electricity intensity and eventually decreases electricity intensity. Our analysis is important for policy makers for improving electricity efficiency planning and sustainable economic development policies.

HOW DOES BLOCKCHAIN PARTICIPATION AFFECT THE CRYPTOCURRENCY MARKET?

2020 ◽  
pp. 1-24
Author(s):  
YI LI ◽  
WEI ZHANG ◽  
PENGFEI WANG
Keyword(s):  
Trading Volume ◽  
Positive Impact ◽  
Granger Causality Test ◽  
Realized Volatility ◽  
Var Model ◽  
Alternative Measure ◽  
Theoretical Studies ◽  
Causality Test ◽  
Vector Autoregressive ◽  
The Impact

Taking the unique advantage of the cryptocurrency market setting, this paper examines the relationships between blockchain participation and returns, trading volume and realized volatility of main cryptocurrencies (i.e., Bitcoin, Ethereum and Litecoin). Dissimilar to previous theoretical studies that model the influencing factors on participation, we employ the number of unique from addresses 1 as the proxy for cryptocurrency investors’ blockchain participation and further explore the impact of such participation. By using vector autoregressive (VAR) model, we find that the blockchain participation has a significant and positive impact on the next day’s trading volume and realized volatility for the main cryptocurrencies. Our results are robust to the Granger causality test and alternative measure for blockchain participation.

The impact of institutionalization on child development

2003 ◽  
Vol 15 (4) ◽  
pp. 853-884 ◽  
Author(s):  
KIM MACLEAN
Keyword(s):  
Child Development ◽  
Recent Literature ◽  
Negative Impact ◽  
Canadian Study ◽  
Social Emotional ◽  
Early Deprivation ◽  
Future Directions ◽  
The Past ◽  
The Impact ◽  
Conceptual Difficulties

During the past 10 years researchers studying children adopted from Romanian orphanages have had the opportunity to revisit developmental questions regarding the impact of early deprivation on child development. In the present paper the effects of deprivation are examined by reviewing both the early and more recent literature on studies of children who spent the first few years of life in institutions. Special attention is given to the Canadian study of Romanian adoptees in which the author has been involved. Findings across time and studies are consistent in showing the negative impact of institutionalization on all aspects of children's development (intellectual, physical, behavioral, and social–emotional). Results of studies show, however, that institutionalization, although a risk factor for less optimal development, does not doom a child to psychopathology. However, the impact of institutionalization is greater when coupled with risk factors in the postinstitutional environment. Methodological and conceptual difficulties in research with institutionalized samples of children are discussed and future directions for research are considered.

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