scholarly journals Rent-To-Own Agreements: Purchases Or Rentals?

2011 ◽  
Vol 20 (1) ◽  
Author(s):  
Michael H. Anderson ◽  
Raymond Jackson
Keyword(s):  
Low Income ◽  
Font Size ◽  
Short Term ◽  
Data Set ◽  
Unique Data ◽  
High Interest ◽  
Financially Distressed ◽  
Credit Check ◽  
Small Periodic ◽  
Common Perception

<p class="MsoNormal" style="text-align: justify; margin: 0in 0.5in 0pt;"><span style="font-size: 10pt;"><span style="font-family: Times New Roman;">The rent-to-own (RTO) business has emerged as an important component of the retailing sector. By offering immediate access to household goods for a small periodic fee without a credit check or down payment, RTO has strong appeal to low income and financially distressed consumers.<span style="mso-spacerun: yes;">&nbsp; </span>A common perception of RTO is that they are disguised, high-interest installment agreements as most consumers eventually acquire the contracted merchandise by making all scheduled payments. We examine the nature of these agreements by using a unique data set of more than 350 thousand transactions drawn from 100 RTO stores in 46 states. Our main result, derived from an analysis of disposition and duration, is that RTO agreements are more frequently used for short-term needs rather than as a method of acquisition.<span style="mso-spacerun: yes;">&nbsp; </span>Legislative and legal efforts to classify RTO agreements as primarily installment contracts cannot be justified by their pattern of use in the marketplace.<span style="mso-spacerun: yes;">&nbsp; </span></span></span></p>

scholarly journals Incentives – Effectiveness and efficiency

2014 ◽  
Vol 3 (1) ◽  
pp. 7-27 ◽  
Author(s):  
Björn Hinderlich
Keyword(s):  
Company Performance ◽  
Executive Directors ◽  
Short Term ◽  
Data Set ◽  
Target Setting ◽  
Market Capitalization ◽  
Share Ownership ◽  
Unique Data ◽  
Effectiveness And Efficiency

This paper covers the question if and how incentive schemes work evaluated by their impact on company performance (market capitalization and profit before tax). Based on a unique data set for German executive directors of DAX companies it can be proved that neither short (STI) nor long term incentives (LTI) plans necessarily support the company success. It rather depends on the efficiency of each plan, i. e. on its design. Special attention has to be paid on target setting. Short term focused objectives often miss their targets, whereas long term oriented objectives significantly support the company success. To solve the prisoner’s dilemma between employers and employees by a quasi-endless game, additional measures may be helpful, such as share ownership guidelines.

Short-Term Accruals and the Pricing and Production of Audit Services

2010 ◽  
Vol 29 (1) ◽  
pp. 221-250 ◽  
Author(s):  
Caren Schelleman ◽  
W. Robert Knechel
Keyword(s):  
Earnings Management ◽  
Financial Statements ◽  
Audit Fees ◽  
Profit Margin ◽  
Work Effort ◽  
Short Term ◽  
Audit Pricing ◽  
Data Set ◽  
Audit Firm ◽  
Unique Data

SUMMARY: This study investigates how risk associated with increased levels of accruals that might be indicative of earnings management affects the pricing and production of audit services. Francis and Krishnan (1999) suggest that auditors can deal with the risk of earnings management in five ways: (1) screen out high-risk clients; (2) charge a premium to riskier clients; (3) increase audit effort; (4) negotiate adjustments to the financial statements; and/or (5) report more conservatively (e.g., by issuing a modified report). Using a unique data set, the current study investigates two of these options: charging a fee premium and increasing audit effort. Based on previous research on audit pricing and production, we construct models for audit fees, total audit effort, labor mix (extent of experienced auditor effort), and engagement profit margin including an accruals measure that could indicate earnings management. We test these models on a sample of 119 audit engagements from one Big 6 audit firm in The Netherlands. We find that signed short-term accruals are associated with a significant increase in audit fees as well as total effort, but not with experience mix or profit margin. However, we find secondary evidence that auditors utilize more supervisors, assistants and support personnel and earn smaller profits (returns) when a client has higher levels of short-term accruals. Taken together, these results suggest that auditors are responsive to high levels of short-term accruals that may be indicative of earnings management, and will increase their work effort even if they are unable to recoup all of the related costs.

Sophistication, Sentiment, and Misreaction

2015 ◽  
Vol 50 (4) ◽  
pp. 903-928 ◽  
Author(s):  
Chuang-Chang Chang ◽  
Pei-Fang Hsieh ◽  
Yaw-Huei Wang
Keyword(s):  
Investor Sentiment ◽  
Individual Investors ◽  
Options Market ◽  
Short Term ◽  
Data Set ◽  
Unique Data ◽  
Investor Sophistication ◽  
Alternative Measures ◽  
History Of ◽  
Complete History

AbstractThis study investigates whether the existence or strength of any misreaction in the options market is affected by investor sophistication and investor sentiment. Based on a unique data set of the complete history of all transactions in the Taiwan options market, we find that individual investors exhibit significant misreaction to information and that this misreaction becomes stronger during periods of high investor sentiment. In addition, more active or aggressive individual investors always exhibit misreaction and do not learn from their past mistakes. Our empirical results are robust to alternative measures of investor sentiment and definitions of long- and short-term horizons.

Understanding the role of life events on residential mobility for low-income, subsidised households

Urban Studies ◽  
2018 ◽  
Vol 56 (8) ◽  
pp. 1628-1646 ◽  
Author(s):  
Ruoniu Wang ◽  
Rebecca Walter ◽  
Abdulnaser Arafat ◽  
Jie Song
Keyword(s):  
Life Events ◽  
Residential Mobility ◽  
Low Income ◽  
Housing Assistance ◽  
Housing Policies ◽  
Data Set ◽  
Equal Distribution ◽  
Unique Data ◽  
The Relationship

While the role of life events on residential mobility for the general population is well documented, little is known for low-income, subsidised households. Insights into this line of inquiry are instrumental for improving housing policies and programmes that aim for a more equal distribution of residents across the economic spectrum. The present study draws on a unique data set that covers the entire low-income population participating in the Housing Choice Voucher (HCV) programme from 2007 to 2013 in the state of Florida, USA. Results show that life events are strongly and significantly related to mobility decisions, while the relationship between life events and changes in neighbourhood poverty is less prominent. In light of this, a full understanding of residential mobility requires the consideration of life events by accounting for housing assistance, given its compounding effect on the mobility process and outcomes for low-income households.

EITC Use in Shared Placement Cases

2016 ◽  
Vol 46 (3) ◽  
pp. 327-358
Author(s):  
Hsueh-Hsiang Li ◽  
John Karl Scholz ◽  
Patricia R. Brown
Keyword(s):  
Unemployment Insurance ◽  
Low Income ◽  
Income Tax ◽  
Cost Effective ◽  
Court Order ◽  
Data Set ◽  
Earned Income ◽  
Unique Data ◽  
Working Families ◽  
Tax Returns

We use a unique data set containing information from state individual income tax returns, Wisconsin unemployment insurance wage data, and data collected by hand from Wisconsin courthouses to examine the earned income tax credit (EITC) usage by divorced men and women with children. We show that a large percentage of divorced adults with children file tax returns. Moreover, many receive the EITC benefit through the tax system, which results in substantial additional resources for the household. We find little evidence of divorced parents engaging in strategic allocations of their children to maximize EITC claims. We also find that many EITC-eligible low-income parents fail to claim it. A potentially cost-effective way to increase the resources available to low-income working families is to provide easy-to-understand information on child-related provisions in the tax code at the time the court order is established.

Short-Term Flood Prediction System

2014 ◽  
Vol 13 (1) ◽  
Author(s):  
Konrad Nering
Keyword(s):  
Flash Floods ◽  
Prediction System ◽  
Short Term ◽  
Data Set ◽  
Flood Prediction ◽  
Full Operation

AbstractThis paper describes a fully functional short-term flood prediction system. Its effect has been tested on watershed of Lubieńka river in Małopolska. To use this system it must have a data set also described in this paper. A modification of the system to adopt for predicting flash floods was described. Full operation of the system is shown on example of real flood on Lubieńka river in June 2011.

Dampak Insentif Pajak Perumahan Terhadap Potensi Penerimaan Pajak Negara Dan Peningkatan Pendapatan Masyarakat : Kasus Provinsi Papua

2016 ◽  
Vol 1 (1) ◽  
pp. 13-22
Author(s):  
Towaf Totok Irawan
Keyword(s):  
Low Income ◽  
House Prices ◽  
Tax Incentives ◽  
High Price ◽  
Short Term ◽  
Primary Input ◽  
State Revenue ◽  
Long Run ◽  
The Government ◽  
The Impact

Until now the government and private sector have not been able to address the backlog of 13.5 million housing units for ownership status and 7.6 million units for residential status. The high price of land has led to the high price of the house so that low-income communities (MBR) is not able to reach out to make a home purchase. In addition to the high price of land, tax factors also contribute to the high price of the house. The government plans to issue a policy for the provision of tax incentives, ie abolish VAT on home-forming material transaction. This policy is expected to house prices become cheaper, so the demand for housing increases, and encourage the relevant sectors to intensify its role in the construction of houses. It is expected to replace the lost tax potential and increase incomes. Analysis of the impact of tax incentives housing to potential state revenue and an increase in people's income, especially in Papua province is using the table IO because in addition to looking at the role each sector can also see the impact on taxes (income tax 21 Pph 25 Pph, VAT), and incomes (wage). Although in the short-term impact is still small, but very rewarding in the long run. Keywords: Backlog, Gross Input, Primary Input, Intermediate Input

Light touch, heavy hand: principals and data-use PLCs

2017 ◽  
Vol 55 (4) ◽  
pp. 376-389 ◽  
Author(s):  
Alice Huguet ◽  
Caitlin C. Farrell ◽  
Julie A. Marsh
Keyword(s):  
Professional Learning ◽  
Low Income ◽  
Equal Opportunity ◽  
Data Use ◽  
Opportunity To Learn ◽  
School Level ◽  
Comparative Case Study ◽  
Data Set ◽  
Content Type ◽  
Principal's Role

Purpose The use of data for instructional improvement is prevalent in today’s educational landscape, yet policies calling for data use may result in significant variation at the school level. The purpose of this paper is to focus on tools and routines as mechanisms of principal influence on data-use professional learning communities (PLCs). Design/methodology/approach Data were collected through a comparative case study of two low-income, low-performing schools in one district. The data set included interview and focus group transcripts, observation field notes and documents, and was iteratively coded. Findings The two principals in the study employed tools and routines differently to influence ways that teachers interacted with data in their PLCs. Teachers who were given leeway to co-construct data-use tools found them to be more beneficial to their work. Findings also suggest that teachers’ data use may benefit from more flexibility in their day-to-day PLC routines. Research limitations/implications Closer examination of how tools are designed and time is spent in data-use PLCs may help the authors further understand the influence of the principal’s role. Originality/value Previous research has demonstrated that data use can improve teacher instruction, yet the varied implementation of data-use PLCs in this district illustrates that not all students have an equal opportunity to learn from teachers who meaningfully engage with data.

scholarly journals Microfinance and Vulnerability to Seasonal Famine in a Rural Economy: Evidence from Monga in Bangladesh

2020 ◽  
Vol 0 (0) ◽  
Author(s):  
Claudia Berg ◽  
M. Shahe Emran
Keyword(s):  
Food Security ◽  
Rural Economy ◽  
Screening Process ◽  
Data Set ◽  
Estimation Strategy ◽  
Positive Effects ◽  
Unique Data ◽  
Primary Mechanism ◽  
Poor Households ◽  
Microfinance Institution

AbstractThis paper uses a unique data set on 143,000 poor households from Northern Bangladesh to analyze the effects of microfinance membership on a household’s ability to cope with seasonal famine known as Monga. We develop an identification and estimation strategy that exploits a jump and a kink at the 10-decimal land ownership-threshold driven by the Microfinance Institution screening process to ensure repayment by excluding the ultra-poor. Evidence shows that microfinance membership improves food security during Monga, especially for the poorest households who survive at the margin of one and two meals a day. The positive effects on food security are, however, not driven by higher income, as microcredit does not improve the ability to migrate for work, nor does it reduce dependence on distress sale of labor. The evidence is consistent with consumption smoothing being the primary mechanism behind the gains in food security of MFI households during the season of starvation.

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