The State Expropriation Risk and the Pricing of Foreign Earnings

2021 ◽  
Author(s):  
Iftekhar Hasan ◽  
Ibrahim Siraj ◽  
Amine Tarazi ◽  
Qiang Wu
Keyword(s):  
Multinational Firms ◽  
Value Relevance ◽  
Management Practice ◽  
Host Countries ◽  
Foreign Earnings ◽  
The Us ◽  
Country Factors ◽  
Expropriation Risk ◽  
Trade Relationship ◽  
Relationship Of

We examine the pricing of U.S. multinational firms’ foreign earnings in regard to their risk of expropriation and unfair treatment by the governments of the countries in which their international subsidiaries are located. Using 8,891 firm-years observations during the 2001-2013 period, we find that the value relevance of foreign earnings increases with the improvement of the protection from state expropriation risk in the subsidiary host-countries. Our results are not driven by the earnings management practice, investor distraction, country informativeness, and political and trade relationship of a foreign country with the US. Furthermore, our results are robust to the confounding effects of country factors, measurement error in the variable of the risk of expropriation, influence of private contracting institutions, and endogeneity in the decision of location of subsidiaries.

From Competition to Cooperation: A History of Canada–US National Park Relations

2019 ◽  
Author(s):  
Terence Young ◽  
Alan MacEachern ◽  
Lary Dilsaver
Keyword(s):  
National Parks ◽  
National Park ◽  
The United States ◽  
The Us ◽  
Park Service ◽  
Settler Societies ◽  
History Of ◽  
Relationship Of ◽  
Flow Of Information ◽  
The Relationship

This essay explores the evolving international relationship of the two national park agencies that in 1968 began to offer joint training classes for protected-area managers from around the world. Within the British settler societies that dominated nineteenth century park-making, the United States’ National Park Service (NPS) and Canada’s National Parks Branch were the most closely linked and most frequently cooperative. Contrary to campfire myths and nationalist narratives, however, the relationship was not a one-way flow of information and motivation from the US to Canada. Indeed, the latter boasted a park bureaucracy before the NPS was established. The relationship of the two nations’ park leaders in the half century leading up to 1968 demonstrates the complexity of defining the influences on park management and its diffusion from one country to another.

Performance of prohexadione-calcium on shoot growth and fruit quality of apple — Effect of spray surfactants

2008 ◽  
Vol 88 (1) ◽  
pp. 165-174 ◽  
Author(s):  
J. A. Cline ◽  
C. G. Embree ◽  
J. Hebb ◽  
D. S. Nichols
Keyword(s):  
Vegetative Growth ◽  
Shoot Growth ◽  
Management Practice ◽  
Fruit Size ◽  
Growth Control ◽  
Growth And Yield ◽  
Control Treatment ◽  
Royal Court ◽  
The Us ◽  
Prohexadione Calcium

Vegetative growth control of apples (Malus × domestica Borkh.) is necessary to maintain a balance between growth and cropping. Pruning is a labour-intensive management practice to achieve this and intrinsically stimulates new growth. Prohexadione-calcium (PC) is a plant bio-regulator that effectively regulat es the shoot extension growth of apples and other tree fruits. Previous research has demonstrated that its efficacy can vary based on the use of spray surfactants and adjuvants. This study investigated the efficacy of two rates of Apogee™, the commercial form of PC, used in combination with the spray surfactants Sylgard 309 and LI 700, on extension shoot growth and yield parameters. Experiments were conducted in Ontario on Empire and Nova Scotia on Royal Court™ Cortland apples. Treatments of 0, 75 or 125 mg L-1 PC, with and without either 0.5% (vol/vol.) LI 700 surfactant or 0.05% (vol/vol) Sylgard 309 surfactant were applied to Empire trees, and 75 or 125 mg L-1 PC, with or without 0.5% (vol/vol) LI 700, were applied to Royal Court™ trees. An untreated control treatment was also included for comparison purposes. A total of two sprays were applied to the Empire trees and a total of three sprays were applied to the Royal Court™ trees. PC significantly decreased the vegetative growth of Empire and Royal Court™ trees by approximately 18 to 44%, respectively, and the efficacy of PC was enhanced when combined with either Sylgard 309 or LI 700 surfactant. No additional benefit in vegetative growth control was gained when using Apogee™ at rates of 125 mg L-1 PC, relative to 75 mg L-1 PC. The rate of Apogee™ did not influence the number of fruit or yield per tree or mean fruit size of either cultivar. For Empire, LI 700 and Sylgard 309 significantly reduced the number of fruit per tree, resulting in lower yields and crop densities. In addition, higher mean fruit weights, and a greater distribution of fruit in the larger size categories were observed for LI 700. Fruit from Royal Court trees treated with the highest rate of Apogee™ had higher crop densities, poorer coloured fruit, and a higher percentage of fruit less than 60 mm in diameter. These data provide support for the use of alternative surfactants with Apogee™ other than those listed on the US and Canadian product labels. Key words: Apogee™, Empire, Cortland, Regalis, calcium 3-oxido-5-oxo-4-propionylcyclohex-3-enecarboxylate, surfactant

scholarly journals The Influence of the Quality of an Audit to Relationship Other Comprehensive Income (OCI) And Relevance of Value Accounting Information, And Asymmetry of Information (Study on Companies in Indonesia)

2017 ◽  
Vol 5 (1) ◽  
pp. 46-52
Author(s):  
Yurniwati Yurniwati ◽  
Amsal Djunid ◽  
Nini Sumarni ◽  
Ike Pranita
Keyword(s):  
Information Asymmetry ◽  
Value Relevance ◽  
Linear Regression Analysis ◽  
Accounting Information ◽  
Asymmetry Of Information ◽  
Comprehensive Income ◽  
Other Comprehensive Income ◽  
Relationship Of ◽  
The Relationship

Objective - This study examines the influence of the quality of an audit to the relationship of Other Comprehensive Income (OCI) and Relevanceof Value Accounting Information, and Asymmetry of Information in Indonesia's companies. Methodology/Technique - This research uses secondary data obtained from the company's annual report in 2012 - 2014. A purposive sampling method is used to collect data and the analysis of the hypothesis was conducted usingmultiple linear regression analysis. Findings - The research has shown that Quality of Audit has a significant influence to the relationship of the OCI disclosure and Relevance of Value Accounting Information has a value of sig. 0.000, F calculate is 26.816 larger than F table 2.396 and adjusted R square 0.241. Novelty - The study looks at the disclosures of OCI component's role in the investors decision making and it increases value relevance of accounting information and reducing information asymmetry. Type of Paper - Empirical Keywords: Other Comprehensive Income (OCI); Relevance of Value Accounting Information; Information Asymmetry; Quality of Audit. JEL Classification: D82, M41, M42.

scholarly journals SCALIA, HAMDAN AND THE PRINCIPLES OF SUBJECT MATTER RECUSAL

2012 ◽  
Vol 19 (1) ◽  
pp. 149-170
Author(s):  
Brian Flanagan
Keyword(s):  
Subject Matter ◽  
Natural Justice ◽  
Open Mind ◽  
The Us ◽  
Normative Basis ◽  
The Subject ◽  
Relationship Of ◽  
Constitutional Adjudication ◽  
The Relationship ◽  
Practical Level

The point of judicial recusal is at once obvious and elusive.  The idea of a partial judge immediately grates on our sense of fairness.  Almost invariably, the normative basis of judicial impartiality is traced to what is described as ‘natural justice’;1 specifically the celebrated maxims of nemo iudex in causa sua2 and audi alteram partem.3  But the relationship of this moral bedrock to the exigencies and settled practices of constitutional adjudication is far from straightforward.  This article will focus on the implications of the latter principle – perhaps best translated as a standard of judicial open-mindedness regarding the subject matter of a dispute.  Despite its moral immediacy, there are serious theoretical objections, best described as ‘realist,’ to an expansive conception of judicial open-mindedness.  Likewise, at a practical level, the institution of the dissenting opinion can be seen as diluting the duty to keep an open mind, at least in jurisdictions such as the US where judges are expected to exhibit relatively little deference towards previous decisions in which they were outvoted.

Relationship of Area-Level Socioeconomic Status Indicators and Nutritional Anemias: Analysis of Folate, Vitamin B12, and Iron Deficiencies

Blood ◽  
2020 ◽  
Vol 136 (Supplement 1) ◽  
pp. 16-17
Author(s):  
Miguel Gonzalez Velez ◽  
Carolyn Mead-Harvey ◽  
Heidi E. Kosiorek ◽  
Yael Kusne ◽  
Leyla Bojanini ◽  
...  
Keyword(s):  
Socioeconomic Status ◽  
Vitamin B12 ◽  
Conflicts Of Interest ◽  
Population Level ◽  
Serum Folate ◽  
Continuous Variables ◽  
Cross Sectional ◽  
The Us ◽  
Relationship Of ◽  
The Relationship

Introduction: Serum folate (SF), vitamin B12 (B12), and iron deficiency (def) are common causes of nutritional anemias (NA). These deficiencies are usually multifactorial, with nutritional and non-nutritional causes playing a role. SF, B12, and iron levels are usually ordered in the setting of anemia, and malnutrition with or without neurologic symptoms. Clinical evidence suggests that these def have a strong dietary component and socioeconomic status (SES). The relationship of NA and area-based SES in the US has not been studied. We aimed to determine the relationship of SES with the prevalence of NA. Methods: We performed a cross-sectional analysis of adult patients with SF, B12 and iron levels at Mayo Clinic Arizona and Florida between 2010 and 2018. Race was classified using the NIH criteria. Normal laboratory values were determined according to our lab reference and the US NHANES III. SF levels (mcg/Lt) were defined as deficient <4, normal ≥4.0, and excess ≥20. B12 levels (ng/L) as deficient <150, borderline 150-400, normal >400-900, and excess ≥900. Iron def was determined by ferritin levels (mcg/L) as low <24, normal 24-336, elevated >336 for men, low <11, normal 11-307, elevated >307 for women. Area-Level SES indicators: Median Household income (MHI), unemployment rate (UR), median gross rent month (MGRM), % uninsured, median house value (MHV), % high school; were geocoded by zip code using the 2014 American Community Survey. Demographics and clinical variables were compared between groups by chi-square test for frequency data or Kruskal Wallis rank-sum test for continuous variables. Results: 202,046 samples from 128,084 patients were analyzed. In the sample-level analysis, there were statistically significant associations between SES and SF def; all SES indicators except UR for B12 def; and no differences for iron def, except % uninsured (Table 1). There was no statistically significant interaction between race and SES for SF def and iron def. Race was a statistically significant modifier between B12 def and MHI (p<0.001), % uninsured (p=0.002), and MHV (p=0.007). Asian and Other race had an increase in odds of B12 def with increasing MHI (Asian OR=1.11 , Other OR=1.18); white race had a decrease in odds of B12 def with increasing MHI (OR=0.95 for a $10,000 increase in MHI). Conclusions: We show significant relationships between SES and NA in the US. Differences were observed between SF def and all the SES indicators without race interactions. There were significant interactions between B12 def, race and SES for pts of White, Asian and Other race. There were no differences between SES and race for iron def. These relationships confirm that NA are related to area-level SES and other social determinants of health. Research regarding the causes of these disparities on a population level are needed. Disclosures No relevant conflicts of interest to declare.

Clustering of host countries to facilitate learning between similar international construction markets

2019 ◽  
Vol 27 (1) ◽  
pp. 66-82
Author(s):  
Beste Ozyurt ◽  
Irem Dikmen ◽  
M. Talat Birgonul
Keyword(s):  
Cluster Analysis ◽  
Construction Projects ◽  
Lessons Learned ◽  
Extensive Literature ◽  
Host Countries ◽  
Related Factors ◽  
Content Type ◽  
International Construction ◽  
Country Factors ◽  
Country Clusters

Purpose In the global construction industry, experience gained in various countries is a major source of competitive advantage. By transferring the knowledge gained in previous projects using an effective knowledge management strategy, they can increase their competitiveness by adopting best practices and by not repeating the same mistakes under similar conditions. The purpose of this paper is to demonstrate how similar countries can be clustered to facilitate learning in global markets. Design/methodology/approach Initially, country factors that can affect success in international projects and can be used to assess the similarity of markets were identified by an extensive literature review and prioritised by a web-based questionnaire. A country evaluation form was prepared to collect country-specific data to be used in the cluster analysis of 39 countries where the Turkish contractors have been frequently working since the last 45 years. Cluster analysis was performed with SPSS 23.0. Findings Three country clusters were obtained and validated. Ultimately, how obtained country clusters may be used to facilitate learning from international construction projects was demonstrated by using an illustrative example. Research limitations/implications The findings depend on the experience and perspective of Turkish contractors doing business abroad. Thus, the identified clusters are not generic. Moreover, country clusters were not identified considering only the country factors such as economy, culture, politics, etc.; thus, countries in the same cluster do not necessarily represent “similar” countries in terms of macro-factors. Clusters were identified so that the lessons learned can be effectively transferred within the same cluster considering construction and project-related factors as well as country-related factors. Although the findings cannot be generalised and clusters are not static, it is believed that the methodology used in this research is repeatable for different countries considering different timeframes. Originality/value Theoretical contributions include the identification of factors that can be used for similarity assessment of countries for transferring lessons learned as well as a methodology for clustering. Findings may also have a practical value for the Turkish contractors.

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