...political reforms in India have reshaped property markets and the politics of land development. Among the newly empowered actors, local criminal syndicates, often with global connections, have seized political opportunities created by these shifts to gain influence over land development. The rise of Mumbai's organized criminal activity in the 1950s was closely linked to India's macroeconomic policies, with strict regulation of imports fuelling the growth of black market smuggling. Liberalization and deregulation since the early 1990s have diminished demand for smuggled consumer goods and criminal syndicates have since diversified their operations. With skyrocketing real estate prices in the 1990s, bolstered by global land speculation, the mafia began investing in property development. Supported by an illicit nexus of politicians, bureaucrats and the police, the mafia has emerged as a central figure in Mumbai's land development politics. The article examines the structural shifts that facilitated the criminalization of land development and the implications of mafia involvement in local politics. The efforts of this article were to examine informal governance structures in conjunction with criminal activity on...
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...Price: Affected by Economic Fundamentals or Real Estate Policy? © Higher Education Press and Springer-Verlag 2010 Abstract Many theory and empirical literature conclude that house price can reflect economic fundamentals in the long-term. However, by using China’s panel data of 35 main cities stretching from 1998 to 2007, we find that there is no stable relationship between house price and economic fundamentals. House price has deviated upward from the economic fundamentals since government started macro-control of the real estate market. We consider that the mechanism between the house price and economic fundamentals is distorted by China’s real estate policy, especially its land policy. Meanwhile the policy itself is an important factor in explaining the changes of China’s house price. Then we estimate the dynamic panel data model on house price and the variables which are controlled by real estate policy. The result shows: land supply has negative effects on house price; financial mortgages for real estate have positive effects on house price; and the area of housing sold and the area of vacant housing, which reflects the supply and demand of the housing market, has negative effects on house price. We also find some differences in house price influence factor between eastern and mid-western cities. Finally, we propose policy suggestions according to the empirical results. Keywords house price, economic fundamental, real estate policy, dynamic panel data model JEL Classification...
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...Leadership Course Number (ORG300) – Applying Leadership Principles Colorado State University – Global Campus February 28, 2014 Learning from Poor Leadership There are many organizations and companies throughout the world that are controlled by bad or incompetent leaders. Some reasons for bad leadership are inadequate hiring practices such as hiring relatives, lack of knowledge around leadership skills, or inherit flaws of the leaders such as power trips or egotism. Whatever the reasons for the bad leadership, the results are demoralized teams and unproductive organizations (Richardson, 1994). Some of these effects are not understood until long after the damage is done or until after the leader has left the organization. In this paper I will discuss my experience with poor leadership and offer how this experience has made me a more effective leader. Joe, the Autocrat with Charisma Fifteen years ago, fresh out of the military, I started my civilian career as a technical specialist providing supervisory and maintenance services for data centers providers. Customers such as AOL, Verizon, and Sprint had a high availability requirement for their mechanical and electrical equipment and ex-military personnel were ideal for these services. The position was fast paced, required around the clock commitment, and extremely stressful. Seconds of downtime for these data centers meant millions of dollars in lost revenue for our customers. My bad leader was Joe, Vice President...
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...EXMBA 2012-14 Sem-2 Economic Environment of Business Faculty : Ms Simirit Kaur Project Report on Major obstacles to India s growth Submitted By: Harish Kumar (S-25) Manoj Paweria (S-36) Kumar Sikander (S-76) ACKNOWLEDGEMENT We owe a great many thanks to a great many people who helped and supported me during assignment . Our deepest thanks to professor, Ms. Simrit Kaur for assisting us at every stage of this project from the objectives, techniques and analysis to fine-tuning our entire findings. We owe a great many thanks to a great many people who helped and supported us during field assignment . We also extend our heartfelt thanks to our family and well wishers. 2 CONTENTS ~Acknowledgements~ _________________________________ 2 ~Objectives of this project~ ____________________________ 4 ~ Brief detail about factor effecting India s growth ~ ________ 5 ~ Q1 - Infrastructure Shortages effects ~ __________________ 6 ~ Key Initiatives / Information ~ _________________________ 6 ~ Q-2 - Large Fiscal Deficit ~ ___________________________ 10 ~ The Indian scenario ~ _______________________________ 12 ~ Bibliography ~ _____________________________________ 16 3 ~Objectives of this project~ India s economy has grown very rapidly in recent years. Since 1991 it has been among the top 10% of the world s countries in terms of economic growth. The primary challenge for India is to sustain this growth while spreading its benefits more widely. This requires continuous effort as international...
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...CLASS 1.1 Important concepts Entities – tax versus legal • Tax entities o People, partnerships, joint venture, companies … are considered to be entities for the purposes of calculating income tax. • Legal entities o Companies, which have separate legal personalities, are legal entities. Income flows • Income should be considered as a cash flow stream, where timing is important. • The question is, when the income recognised as earned or deducted (because tax delayed is tax denied)? CLASS 1.2 Patterns of taxation Income tax • Income tax is a progressive system. • Income tax is mainly a rich person’s tax once franking credits are taken into account to produce an “effective tax rate”. • Wealthy people pay less tax overall by reducing their tax burden through using the lower rate paid on capital gains and other tax minimisation schemes. • Total tax as a percentage of GDP is lower in Australia compared to many other countries across the world. However, these results must be considered in light of the high level of income (where it may not be as much of a burden to pay high taxes where there is high income) and quality of public goods provided in counties such as Sweden (which has the highest total tax rate as a percentage of GDP). Justifications for taxation Why do we need taxes? • Public goods argument: the government can provide some benefits to society better than anyone else. Examples include defence, and law and order. • Market failure...
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...The study of unaccounted income thereafter was entrusted to the National Institute Of Public Finance And Policy in July 1982 to: identify sectors generating black money, causes of such, studying the methods employed to generate black money and channels through which concealed income is invested and spent in other ways, methods employed to convert black money into white, broad estimate of money generated and to take regional or sectoral surveys required in connection with the above. The Institute submitted its report in March 1985. The focus of the paper is on methods and measurements of estimating black economy and therefore, other aspects of the report like distinguishing between black income and black wealth, giving an explanation for the causes of black economy and remedial measures etc. are not explicitly dealt with, yet these issues are kept in mind and the methods and measurements are discussed at the level best. This paper has tried to do some justification to the NIPFP REPORT (1985) and the comments by various known scholars. METHODS FOR ESTIMATING BLACK INCOME The first approach is the fiscal approach: Variants of this approach attempt to arrive at independent estimates of incomes subject to tax and compare these with the income actually assessed for taxation and call the difference between the two- a measure of tax evaded income. N.Kaldor first used this method in 1956. This method was also used by Wanchoo Committee report and also used by Chopra (1982) to estimate...
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...practice. It is widely used for training and underpins the development of competency standards. Because of its fundamental importance, the PMBOK should be critically reviewed. This paper agues for an expansion of the PMBOK Guide's risk management knowledge area to include a wider perspective of incomplete knowledge. The PMBOK Guide deals with uncertainty through the traditional use of probability theory, however the underpinning assumptions of probability theory do not always apply in practice. Furthermore, probability-based risk management theory does not explain important aspects of observed project management practice. This paper discusses an expanded framework of incomplete knowledge, including: an expanded concept of uncertainty that acknowledges ignorance or surprise, where there is no prior knowledge of future states; imprecision arising from ambiguity (fuzziness) in project parameters and future states; and, human limitations in information processing. The paper shows the expanded framework explains observed project-management practice more thoroughly than the probability-based framework. The conclusion reached is that ``management of incomplete knowledge'' provides a better theoretical foundation for improving project management practice. To substantiate this, a promising new approach based on ``real options'' is also discussed. # 2001 Elsevier Science Ltd and IPMA. All...
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...A Study on Leverage and Firm Investment: Chinese Evidence Master of Science Thesis Huijie Bao Program Economics of Innovation and Growth Royal Institute of Technology (KTH) June 2010 Supervisor: Börje Johansson ABSTRACT This thesis focuses on the relationship between financial leverage and investment in Chinese listed firms. There are two novel aspects embraced here. One is choosing a marginal version of Tobin’s q instead of average q with Chinese data. Another one is taking the financial sector in to consideration. The research covers all sectors in the Chinese stock market. Main outcomes are listed below. Leverage imposes negative effects on investment, especially on non-state owned firms. Like Financials, Manufacturing and other highly regulated sectors, the inverse impacts of debt are week as well. However, marginal q fails in proof under the specific environment of the Chinese capital market which is still immature. High-leveraged firms experienced reverse influences of marginal q on investment. To sum up, over-debt financing indeed blocks the sustained investment. Relatively speaking, state owned firms in China suffer less since they are supported by the government and have fewer restrictions. Key words: financial leverage, marginal q, gross investment and state owned firms 2 ACKNOWLEDGMENTS Firstly, I would like to express my strong gratitude to my supervisor, Prof. Börje Johansson, whose profound knowledge, guidance and patience, greatly enhanced...
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...Debate over the transfer and adaption of industrial models prompted by the globalization of Japanese manufacturers continues to draw attention. Most discussion has concerned issues of work and employment relations, where the new multinationals have interacted most directly with host societies. Two polar views have framed the debate. On the one hand, it has been argued that Japanese management systems cannot function effectively in the West ‐ or that if they can, the workforce suffers ‐ because they are culture‐bound, exploitative, and would be resisted by trades unions. Japanese practice has been interpreted as classic “Theory X” management. On the other hand, Japanese management systems are said to offer Western production workers new opportunities for teamwork, self‐expression and workplace democracy which should be grasped eagerly ‐ here Japan is interpreted as classic “Theory Y” management. The characteristic Western “either/or” analytical approach may have set up a false dichotomy. Adler’s (1993) study of the Toyota/GM joint venture NUMMI, in California, revealed that rigid management structures were combined with opportunities for worker participation in the “learning bureaucracy”. Mair’s (1994a) study of Honda in Ohio showed how workers participated but in a way that was strictly channelled, and that the “single status” system both provided a degree of democracy and equality and permitted authority systems to function more effectively. Innovative management appeared...
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...MULTISTATE CORPORATE TAX COURSE John C. Healy | Michael S. Schadewald 2014 EDITION CPE CoursE! BONUS Earn CPE Credit and stay on top of key Multistate Corporate Tax issues. Go to CCHGroup.com/PrintCPE 2014 EDITION MULTISTATE CORPORATE TAX COURSE John C. Healy | Michael S. Schadewald ii Contributors Authors ........................................................... John C. Healy, MST, CPA Michael S. Schadewald, PhD, CPA Technical Review ....................................................... Sharon Brooks, CPA Production Coordinator ................................................... Gabriel Santana Production ......................................................................... Lynn J. Brown Layout & Design..................................................................Laila Gaidulis This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is sold with the understanding that the publisher is not engaged in rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent professional person should be sought. © 2013 CCH Incorporated. All Rights Reserved. 4025 W. Peterson Ave. Chicago, IL 60646-6085 800 344 3734 CCHGroup.com No claim is made to original government works; however, within this Product or Publication, the following are subject to CCH’s copyright: (1) the gathering, compilation...
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...Managerial Decision Making Research and Analysis Teresa Grass BUS640: Managerial Economics Instructor: John Sellers August 11, 2014 During the process of this paper there will a discussion on the history of Apple mistakes in its choices to over time, risk or indecision in its operations along with financial reports to show uncertain activities and risky, their non-price competitive strategies, regulations of the government that affect Apple’s operations, the increase including the decrease of its product cost over period of time including why they varies, the inputs utilized by the company’s challenges and production function to safeguard these inputs, analysis that Apple is one of those companies that you enjoy their products or you them, and the new products that Apple has presented into the markets. Many of this occurs because of their leadership along with attitude of the business in the past. At the current time Apple is quite successful they are on the top of their market, it’s very important for Apple remain to make great choices. Steve Jobs death along with having new senior managers currently making choices for the company means they are being looked at very closely this will create great rise and fall in the company. This company began in 1976, and then they unified as Apple Computer, Inc. in 1977. In January 2007 the expression “Computer” was disconnected from its original name, after opening of the IPhone it showed its move towards consumer electronics...
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...FOREIGN DIRECT INVESTMENT AND GROWTH IN CYPRUS: A CAUSAL RELATIONSHIP N0373193 This research project is submitted in part-fulfilment of the degree of Bachelor of Arts (Honours) Economics, Finance and Banking Nottingham Business School Nottingham Trent University Summer 2014 Chosen Target Peer-Refereed Academic Journal: Journal of Internet Banking and Commerce, December 2011, vol. 16, no. 3 (http://www.arraydev.com/commerce/jibc/) Declaration: I declare that I have personally prepared this article and that it has not, in whole or in part, been submitted as an assessment for any other module, degree or qualification. The work described here is my own, carried out personally unless otherwise stated. All sources of information, including quotations, are acknowledged by means of appropriate referencing. I declare that this project has been conducted in accordance with Nottingham Trent University’s Regulations on Academic Irregularities, including those pertaining to research ethics and Data Protection legislation. Contents: PAGE Abstract 3 Abbreviations 4 List of Tables 5 List of Figures 5 1. Introduction ...
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...Corruption is efforts to secure wealth or power through illegal means for private gain at public expense; or a misuse of public power for privat e benefit. Corruption like cockroaches has co- existed with human society for a long time and remains as one of the problems in many of the world’s developing economies with devastating consequences. Corruption as a phenomenon, is a global problem, and exists in varying degrees in different countries (Agbu, 2001). Corruption is not only found in democratic and dictatorial politic s, but also in feudal, capitalist and socialist economies. Christian, Muslim, Hindu, and Buddhist cultures are equally be deviled by corruption Corruption in India From Wikipedia, the free encyclopedia Political corruption | Concepts | * Bribery * Cronyism * Kleptocracy * Economics of corruption * Electoral fraud * Nepotism * Slush fund * Plutocracy * Political scandal | Corruption by country | | Europe | * Albania * Armenia * Belgium * Bosnia * Denmark * Finland * France * Germany * Croatia * Cyprus * Czech Republic * Georgia * Greece * Iceland * Ireland * Italy * Kosovo * Latvia * Lithuania * Luxembourg * Macedonia * Moldova * Montenegro * Netherlands * Poland * Portugal * Romania * Serbia * Slovakia * Slovenia * Spain * Sweden * Switzerland * Ukraine | Asia | * Afghanistan * Bahrain * Bangladesh * Cambodia * China...
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...BEYOND MAPPING – UNDERSTANDING CREATIVE INDUSTRIES. The case of UK Author: Vusal Baghirov E-mail: vusal_baghirov@yahoo.com Mobile: +37060491037 Supervisor: Jekaterina Kartasova Mykolas Romeris University Faculty: Social Technologies Table of contents I. Introduction 1.1. Introduction to research problem. 1.2. Research question. 1.3. Relevance of study. 1.4. Structure of the research work. II. The economy. The creative sector and its spatiality: the case of UK 2.1. Defining Creative Industries 2.2. Characteristics of Creative Industries 2.3. Nature of Production and Provision of Goods and Services 2.4. Creative Industries Employment 2.5. Urban Environments and Creative Industries 2.6. The culture-economy nexus 2.7. The creative sector as a production system 2.8.1. Local production clusters for global distribution networks 2.8.2. High rate of new business creation 2.9. The spatial dimension of the cultural production 2.10.1. The concept of cluster 2.10.2. Types of cluster 2.11. The creative economy as part of the knowledge economy Conclusion Reference list Introduction Creative industries are now more and more promoted as an important component of the “new economies”, which will drive the future economic growth. The economic development debates have now shifted from discussing countries to most often seeing urban areas as the drivers of countries economies and a blooming creative economy is frequently named among necessities ...
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...University of Georgia, Athens, GA, USA, RWatson@terry.uga.edu Chen, Adela J. W., University of Georgia, Athens, GA, USA, chenjw@uga.edu Greiner, Martina, University of Georgia, Athens, GA, USA, mgreiner@uga.edu Sclavos, Peter, University of Georgia, Athens, GA, USA, psclavos@uga.edu Abstract In this conceptual paper, we argue that the organizational focus on transaction costs needs to be balanced by an attention to transaction benefits, both at the individual and organizational levels. To the transaction characteristics suggested by transaction costs economics, we add four additional ones likely to foster transaction benefits: intensity of knowledge, segmentation of knowledge, dispersion of knowledge, and scarcity of knowledge. The need to maximize transaction benefits while minimizing transaction costs results in the mixing of governance structures, where two (or more) “pure” governance structures are combined. We create a model of the relationships between transaction characteristics, mix of governance structures, transaction costs and benefits, and information systems; from an instantiated version of this general model, we elaborate four propositions. Moreover, with two “real world” examples (Google and JBoss), we illustrate the existence of the proposed transaction characteristics and mixed governance structures. We conclude by discussing how information systems generate opportunities for creating transaction benefits. Keywords: Transaction Cost Economics, Benefits, Governance...
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