A panel data analysis of nonlinear government expenditure and income inequality dynamics in a macroprudential policy regime was conducted on a panel of 15 emerging countries from 1985–2019, where there had been a non-prudential regime from 1985–1999 and a prudential regime from 2000–2019. The paper explored the validity of the nonlinearity between government expenditure and income inequality in the macroprudential policy regime as well as the threshold level at which excessive spending reduces income inequality using the Bayesian spatial lag panel smooth transition regression (BSPSTR) and fix effect models. The BSPSTR model was adopted due to its ability to address the problems of heterogeneity, endogeneity, and cross-section correlation in a nonlinear framework. Moreover, as the transition variable often varies across time and space, the effect of the independent variables can also be time- and space-varying. The results reveal evidence of a nonlinear effect between government spending and income inequality, where the minimum level of government spending is found to be 29.89 percent of GDP, above which expenditure reduces inequality in emerging countries. The findings confirmed an inverted U-shaped relationship. The focal policy recommendation is that fiscal policy decisions that will reinforce the need for more emphasis on education and public expenditure on education and health, as important tools for improving income inequality, are crucial for these economies. Caution is needed when introducing macroprudential policies, especially at a low level of government expenditure.
This paper employs a sample of Chinese A-share listed companies spanning from 2011 to 2022 to empirically investigate the influence of climate policy uncertainty on the corporate cost of debt, based on the theory of financial friction. We find that climate policy uncertainty significantly increases the corporate cost of debt, and the result is supported by robustness tests. To avoid biases arisen from endogeneity, this paper introduces an instrumental variable approach and propensity score matching method for verification. The endogeneity test results support the baseline regression results as well. Finally, this paper also discovers that financing constraints are the potential mechanism behind the impact of climate policy uncertainty on the corporate cost of debt.
In Indonesia tax reform has undergone multiple revisions in recent years, all within a brief timeframe. Digital tax reform in Indonesia began with significant milestones in recent years to adapt to the digital economy’s challenges. The specific start date for digital tax reform in Indonesia can be traced back to the passing of the Tax Regulations Harmonization Law on 7th October 2021, which officially became Law No 7/2021 on 29th October 2021. This law marked a crucial step in Indonesia’s journey towards modernizing its tax system to address the implications of the digital economy. The provisions of this law have varying effective dates, such as for income tax purposes from the 2022 fiscal year and for VAT purposes from 1st April 2022. These changes under the Tax Regulations Harmonization Law are extensive and wide-reaching, signifying a pivotal moment in Indonesia’s digital tax reform efforts. This shows that the Indonesian government intends to radically overhaul the tax system, yet there are inconsistent approaches to deciding on the long-term course of tax policy. It is critical to investigate the concept of tax legislation in Indonesia in order to provide legal clarity on digital tax reform. Normative juridical research methodology is employed, together with a qualitative research strategy and descriptive-analytical research specifications. The findings suggest that the Indonesian government’s efforts to establish strict policies governing taxes on digital activity are inadequate and uneven. In order to apply to digital platform enterprises, the definition of permanent establishment as outlined in a number of national regulations must incorporate a substantial economic presence criterion. Legislative progress toward the establishment of a framework for digital tax collection is necessary to mitigate the possible income loss of states in this area, which could result from the rapid advancement of information technology. The OECD consensus is still in the process of drafting an international tax reform that will require adjustments from national tax reform. Therefore, it is imperative that the Indonesian government establish a thorough framework for tax regulation that can ensure robustness, economic efficiency, fairness, against motivation compatibility, administrative ease, and avoidance.
This paper explores how Saudi managers perceive the role of corporate heritage in achieving the employment goals of heritage organizations operating in Saudi and, in turn, Saudi Arabia’s Vision 2030 in relation to the Nitaqat program. Using an exploratory qualitative method, the study involved fifteen in-depth semi-structured interviews with HR managers from ten heritage-rich organizations. The analysis identified five key organizational identity traits with heritage—proficient, shelter, responsive, advancing, and centrality—that can be leveraged in employer branding to attract potential employees and enhance the employer brand of organizations operating in the Saudi market. This study is significant as it is the first to investigate corporate heritage from an employer branding perspective and in relation to national employment goals in emerging markets.
This research investigates the impact of digital academic supervision (DAS) on teacher professionalism (TP), with a focus on the mediating role of personal learning networks (PLNs) and their implication for educational policy. Using Partial Least Squares Structural Equation Modeling (PLS-SEM), data were collected from 276 teachers in prestigious secondary schools in East Java, Indonesia. The study uses a regression model design to explore direct and mediated effects between DAS, PLNs, and TP. Findings demonstrate that DAS directly impacts both PLNs (0.638) and TP (0.550), while PLNs also directly influence TP (0.293). Mediated analysis indicates that DAS enhances TP through PLNs (0.187). These results underscore the importance of digital tools in academic supervision, fostering collaboration, and promoting teacher professional development. The empirical evidence supports the effectiveness of DAS in enhancing teacher professionalism, suggesting significant implications for educational policy and practice in Indonesia in terms of regulatory framework, such as data privacy and security, standardization, training programs, and certification and accreditation.
Copyright © by EnPress Publisher. All rights reserved.
