The Impact of Credit Risk Management Indicators on Profitability Attributes: Evidence from the State-Owned Commercial Banks in Bangladesh

The focal attempt of this research is to identify the consequence of credit risk management indicators on profitableness attributes of state-owned commercial banks functioning in Bangladesh. To attain the objectives of this research study researcher has analyzed four sample banks’ audited annual reports covering the period 2012 to 2016. The study has employed the ANOVA technique, multiple regression model, and correlation matrix to reach the concluding remark as per study objectives. The findings revealed that there is significant and insignificant variation as well as relationship in the different indicators of credit risk management but there is insignificant variation in the different attributes of profitability in the midst of the sample banks within the study period. Furthermore, there is the insignificant impact of the different indicators of credit risk management namely loan and advance, classified loan, unclassified loan, leverage ratio, bad debt, default ratio, cost per loan asset, and cost to income ratio on profitability attributes such as return on assets, return on equity along with net profit percentage of the sample banks over the study period. Hence, the study has recommended that the management of the banking sector should emphasize creating a smart credit management policy as well as lending guidelines to formulate the suitable credit risk management practice to meet the demand of loans applicants properly.

Materiality of Disclosure of Non-financial Sustainability Information and Company Financial Performance: Evidence from Australian Listed Companies

The broad objective of this paper is to investigate the relationships between the disclosure of non-financial material sustainability information and the financial performance of listed Australian companies in the materials sector. Using firm-level fixed-effects analysis for all companies, the findings show a mixed relationship (no relationship or statistically significant negative relationship) between lagged aggregate non-financial material sustainability disclosure and financial performance of Australian listed companies in the materials sector. The present study contributes to the existing literature on disclosure of non-financial sustainability information by adding insights into the materiality concept of non-financial sustainability disclosure in the Australian context. The evidence from the current study is expected to provide useful information for the companies’ stakeholders in Australia who use both financial and non-financial information for formulating business and regulatory policies and for decisions regarding the persistent expansion of sustainability reporting requirements. Funding Acknowledgement: This study is funded by the “Australian Government Research Training Program (RTP) Scholarship”.

The COVID-19 Vaccine and the Future of International Laws in Business, Travel, and Trade

Since COVID-19, the world has been constantly evolving to adapt. Finding a cure quickly became the focus worldwide which altered set approaches to intellectual property rights. Additionally, creating a controversial vaccine has led to several more questions for the future. With varying vaccines and standards throughout the world, travel, business, and trade may face new challenges which change the current systems.

America’s Failing Trade War With China: A Focus on Fentanyl

As this article will explain in detail, much of the fentanyl reaching the hands of Americans comes from The People’s Republic of China (“China”). However, as seen by the rise in overdoses, most efforts to control the invasion of fentanyl have been unsuccessful. Although the federal and state governments have attempted to curtail this crisis by imposing sanctions and urging China to regulate production and shipping of the substance, fentanyl continues to flood the streets of the U.S. Moreover, the economic interdependence between the two nations complicates the matter. Because of this interdependence, the U.S. must take control of the situation. The U.S. fentanyl problem will persist if Americans are not dissuaded from using the drug. We must focus on the demand, rather than the supply. This comment focuses on the rise of opioids and synthetic pain relievers, and the variety of attempts at decreasing the number of addicts and overdoses. Initially, the comment will discuss the history of the popular drug opium, opiates, and prescription opioids, discussing state and federal attempts at curbing the crisis that the U.S. faces. It will address the rise of synthetic opioids, such as fentanyl, and how and why it was created. Section two will discuss how fentanyl and its precursors are imported into the U.S. from China. Section three will discuss U.S. federal and state attempts at legislation to control the flow of fentanyl into the U.S. Section four will address the implications, or perhaps fuel to the fire, that the influx in the supply of fentanyl from China has had on trade relations, and how the trade linkage between the two nations obfuscates the situation. The comment will conclude by hypothesizing how the U.S. and China will recalibrate their relationship and recommend that to combat the fentanyl emergency, the U.S. needs to take steps to offer Americans with drug addictions the assistance they need.

Run Gauntlets or Pay Pirates? Regulating Vessel Speeds in High-Risk Waters

Maritime commerce in world commerce. Each year, vessels carry more cargo at higher costs and faster speeds. Insurance is an integral part of shipping, as it protects cargoes and crews against the perils of the sea. This article focuses on the peril of piracy, a criminal practice that has evolved significantly throughout history. Pirates today, as pirates of the past, prey upon the unprotected. Yet, modern piracy, unlike historical piracy, is essentially non-violent. The modern pirate profits from ransom, not theft. Today, piracy is a monetary risk with compu­­­table consequences: an insurable threat. Anti-piracy methods, including insurance, impose steep costs to world trade. In the past decade, pirate activity has declined while piracy insurance has grown more expensive. This phenomenon is problematic, but an industry-wide solution is a challenging construct. To handle the costly risks of piracy is to balance the distinct and competing interests of ship-owners, insurers, operators, and governments. As this Article argues, insurance can more efficiently mitigate piracy’s puzzling risk. After discussing maritime piracy and maritime insurance, this Article outlines the legal and regulatory schema for a system to mandate the speeds of vessels that transit pirate-prone waters. The proposed regulation is mechanically sound, logistically feasible, cost-effective, and enforceable. To diminish the costly risk of piracy, this Article proposes revising a treaty to afford the International Maritime Organization (IMO) jurisdiction to regulate vessel speeds on the high seas.

When Things Go Awry: Command Responsibility, Death Marches, and Unforeseeable Circumstances

Although the events of the past year are in many ways unprecedented, they have resulted in circumstances that are common throughout history. The rise of a global pandemic has led to suffering in many forms, political powers shifting, militant coups rising, and countries facing protests as civil unrest becomes more prevalent. In these uncertain times, political leaders and the role of militaries have been even more scrutinized, revealing flaws that might have remained undetected if it was not for circumstances going awry. These current events have caused us to reflect upon incidents of the past when commanders have faced the uncertainty of how to complete their mission. History is wrought with instances in which the commander, despite having a “Plan B,” still fails to succeed in his role, thus resulting in hundreds of thousands of unnecessary lives lost. Specifically, this article focuses on three death marches—The Long Walk of the Navajo, The Bataan Death March, and Holocaust Death Marches—and the international law of command responsibility. In comparing and contrasting these three historic events through the lens of this law, we analyze the imposition of a commander’s criminal liability when unexpected events occur and he or she is called upon to make difficult decisions. In doing so, we also provide a historical backdrop of each commander’s ethical, moral, and tactical decisions, allowing us to explore what else could have been done, and who should be held liable for the actions of the commander’s soldiers. Ultimately, we call on national leaders and military commanders alike to evaluate our uncomfortable contemporary reality, look back in history, and ask themselves one question: am I truly prepared to make the right decisions when things go wrong?

Trade-restrictive Measures under the WTO Framework in the Context of the COVID-19 Pandemic: The Example of China

The COVID-19 outbreak has led to shortages of critical medical equipment and supplies, exposing significant flaws in the global supply chain. A number of countries have adopted trade-restrictive measures in response to the domestic challenges posed by COVID-19. This paper analyzes whether the trade-restrictive measures adopted by various countries in response to COVID-19 are legitimate under the current WTO framework and how to reform multilateral rules on such measures to promote global equality in accessing essential supplies and coping with the de-globalization wave. With reference to China’s practice, the paper first examines the compatibility of the trade-restrictive measures induced by COVID-19 with the WTO framework, arguing that export restrictions are likely permissible under WTO rules as long as they are non-discriminatory, temporary, and necessary to achieve a certain degree of domestic protection. However, such measures may ultimately disrupt global supply chains and cause more harm, especially to vulnerable countries. The COVID-19 crisis may even lead to a post-pandemic wave of economic de-Sinicization and de-globalization. The paper further argues that it will be contrary to the globalization trend for countries to implement a policy of supply chain localization in the post-pandemic era. The paper concludes that the best solution for minimizing the losses induced by similar crises in the future is to refer back to the WTO framework and reform the rules pertaining to trade-restrictive measures to promote equitable access to key global supplies.

America’s Failing Trade War With China: A Focus on Fentanyl

As this article will explain in detail, much of the fentanyl reaching the hands of Americans comes from The People’s Republic of China (“China”). However, as seen by the rise in overdoses, most efforts to control the invasion of fentanyl have been unsuccessful. Although the federal and state governments have attempted to curtail this crisis by imposing sanctions and urging China to regulate the production and shipping of the substance, fentanyl continues to flood the streets of the U.S. Moreover, the economic interdependence between the two nations complicates the matter. Because of this interdependence, the U.S. must take control of the situation. The U.S. fentanyl problem will persist if Americans are not dissuaded from using the drug. We must focus on the demand, rather than the supply. This comment focuses on the rise of opioids and synthetic pain relievers, and the variety of attempts at decreasing the number of addicts and overdoses. Initially, the comment will discuss the history of the popular drug opium, opiates, and prescription opioids, discussing state and federal attempts at curbing the crisis that the U.S. faces. It will address the rise of synthetic opioids, such as fentanyl, and how and why it was created. Section two will discuss how fentanyl and its precursors are imported into the U.S. from China. Section three will discuss U.S. federal and state attempts at legislation to control the flow of fentanyl into the U.S. Section four will address the implications, or perhaps fuel to the fire, that the influx in the supply of fentanyl from China has had on trade relations, and how the trade linkage between the two nations obfuscates the situation. The comment will conclude by hypothesizing how the U.S. and China will recalibrate their relationship and recommend that to combat the fentanyl emergency, the U.S. needs to take steps to offer Americans with drug addictions the assistance they need.

Tax Culture: Perspectives from an African State

Universally, Tax Culture is not a very common topic but it is critical to administrative governance and economic development. This article argues that the Tax Culture of any milieu is an assemblage of various indices and criteria. These include the history of taxation; tax laws; tax information; tax education; tax revenue mobilization; tax system transparency; tax delinquency; tax dispute resolution; and taxpayer satisfaction. The article sheds light on these instrumental wheels of the Tax Culture of Ghana by providing the research results of field surveys conducted a decade and a half ago. Though dated, any observer of the Tax Culture of Ghana, and indeed of much of Africa and the Global South, will realize that little has since changed. In some instances, the article provides more up-to-date evidence beyond the 2005 data. The article goes beyond an assessment of the Tax Culture of Ghana and articulates recommendations for improving the same. Additionally, it attempts to interconnect issues of Taxation, Good Governance, and Legal Pluralism. Although popular themes in public discourse in Africa today, these concepts are often spoken of in different thematic spheres other than taxation. The article links these themes in practical and concrete ways to taxation, cast in the light of historical institutionalism – an examination of the institutions of taxation, governance, and traditional authority as they interacted through time.

Environmental Air Quality and Health: Evidence from Trade Liberalization

This paper explores the potential externality of trade liberalization between the US and China on air pollution and infants’ health outcomes. Exploiting the differential impact of tariff reductions due to trade liberalization across industries combined with compositional variations of industry-specific employment across counties as the main source of identification strategy and using the universe of birth records in the US over the years 1990-2017 (over 97 million observations), we document substantial improvements in birth outcomes of mothers residing in counties with higher exposure to trade policy change. The exposed counties experienced sharp drops in employment specifically for manufacturing industries and revealed sharp reductions in a wide array of pollutants. A 1 percent reduction in tariff rates is associated with an 11.5 and 12.7 percentage point reduction in the likelihood of low birth weight and preterm birth, respectively.