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Article
Publication date: 11 July 2023

Ca Nguyen, Alejandro Pacheco and Randall Stone

This paper investigates the significant increase in S corporation banks converting to C corporations following the 2017 Tax Cuts and Jobs Act (TCJA) and the shift in motivations…

119

Abstract

Purpose

This paper investigates the significant increase in S corporation banks converting to C corporations following the 2017 Tax Cuts and Jobs Act (TCJA) and the shift in motivations behind these conversions.

Design/methodology/approach

The paper uses bank-level panel data from Federal Deposit Insurance Corporation (FDIC) Call Reports to analyze the determinants of S bank conversions after the TCJA, comparing post-TCJA conversion trends with pre-TCJA trends utilizing an ordinary least squares (OLS) and logistics model.

Findings

The study finds that post-TCJA conversions are primarily driven by financially stable banks seeking improved tax conditions and relaxed shareholder restrictions as C corporations. This contrasts with pre-TCJA conversions, which were predominantly driven by financially distressed S corporation banks seeking new equity capital to maintain solvency.

Research limitations/implications

The findings necessitate a comprehensive reconsideration of the Subchapter S status' sustained relevance for smaller institutions, especially in light of the comparative benefits now offered by the C corporation status post-TCJA. The results underscore the importance of ongoing academic investigation to deepen the understanding of the evolving fiscal landscape's effects on community banks, thereby contributing to the knowledge of the resilience and health of the US economy.

Practical implications

This research nudges policymakers and regulators to contemplate the ongoing relevance and advantages of the S corporation status. Given the substantial benefits conferred by the C corporation status in the post-TCJA environment, this study suggests that retaining the S corporation status may not offer the same appeal for smaller community banks as it once did.

Originality/value

This paper contributes to the broader understanding of the impact of tax policy on businesses' organizational choices, particularly in the banking industry and emphasizes the need for a comprehensive review of the S corporation status to assess its ongoing applicability in fostering small and community-focused financial institutions in light of the evolved corporate tax landscape.

Details

Managerial Finance, vol. 49 no. 12
Type: Research Article
ISSN: 0307-4358

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Article
Publication date: 5 August 2024

Zuhairan Yunmi Yunan and W. Alejandro Pacheco-Jaramillo

This paper aims to examine various indicators related to corruption and determine their impact on financial globalization in emerging countries. It will consider other factors…

102

Abstract

Purpose

This paper aims to examine various indicators related to corruption and determine their impact on financial globalization in emerging countries. It will consider other factors that may impact financial globalization and focus on how corruption within political, executive and public sector institutions can affect this process.

Design/methodology/approach

This paper uses a generalized method of moments (GMM) for a data sample of emerging countries covering 2000–2020. Corruption measurements are derived from the varieties of democracy data sets and Transparency International. It also includes data on foreign direct investment, portfolio flows, foreign exchange and international debt as separate indicators of financial globalization. These measures provide more detailed information on the types of financial transactions occurring across countries.

Findings

The results reveal that foreign investors may be less likely to enter certain sectors of the economy due to concerns about unethical practices and difficulties navigating the regulatory landscape in countries with high levels of corruption. This can lead to underdevelopment in sectors that are attractive to foreign investment and a reliance on a narrow range of sectors.

Originality/value

This paper offers valuable insights by integrating corruption and financial globalization indicators, using the GMM for robust analysis. It highlights how corruption influences foreign investment decisions, potentially leading to sectoral underdevelopment and overreliance in emerging countries.

Details

Journal of Financial Crime, vol. 32 no. 2
Type: Research Article
ISSN: 1359-0790

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Article
Publication date: 18 June 2021

Ca Nguyen and Alejandro Pacheco

This study has two primary objectives. First, it analyzes the information content of confidentiality strictness in corporate loan credit agreements. Second, it examines how…

213

Abstract

Purpose

This study has two primary objectives. First, it analyzes the information content of confidentiality strictness in corporate loan credit agreements. Second, it examines how confidentiality strictness impacts covenant design, lending syndicate structure and loan pricing.

Design/methodology/approach

Using a sample of 6,327 loan credit agreements originated by US public firms in the period of 1996–2017, this study measures the confidentiality strictness in loan contracts using textual analyses that capture the appearance of confidentiality-related words and the length of confidentiality provision. All regressions include relevant loan characteristics, firm-specific accounting variables, industry and year fixed effects. To address the endogeneity concern, the paper uses borrowing firms' rival cash holdings and R&D expenditures to instrument for confidentiality strictness in two-staged least square regressions.

Findings

Borrowers which have higher R&D and operate in more competitive product markets have tighter confidentiality policies. Furthermore, this study reveals that confidentiality strictness is negatively associated with the imposition of financial covenants, especially performance covenants. Loan contracts for borrowers with stricter confidentiality on average have more relaxed covenant intensity, measured by the number of covenants. The study also shows that stricter confidentiality attracts finance companies, which have strong expertise in product markets of their parent firms, into the lending syndicate. However, confidentiality-conscious borrowers with higher degree of information asymmetry are subject to higher loan spreads.

Originality/value

This study provides the first examination of confidentiality policies in loan contracts and supports the idea that loan provisions are not simply made of “boilerplate” language. The results suggest that, for confidentiality-sensitive borrowers, the greater exposure to product market competition helps control managerial slack and substitute monitoring from financial markets.

Details

International Journal of Managerial Finance, vol. 18 no. 2
Type: Research Article
ISSN: 1743-9132

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Article
Publication date: 18 July 2024

Ndaru Nuridho Alfian, Rashid Kanu and Mohammed Alhaji Mohammed

Mosques are built with dome-shaped ceilings for communal worship with common architectural styles worldwide for prayer. Since the acoustics of worship buildings are just as…

36

Abstract

Purpose

Mosques are built with dome-shaped ceilings for communal worship with common architectural styles worldwide for prayer. Since the acoustics of worship buildings are just as significant as their aesthetics, they should enhance people’s sense of hearing. This study evaluates the speech intelligibility of a small mosque with multiple domes to determine the space acoustic conditions.

Design/methodology/approach

The investigation involved extensive literature reviews to collect relevant data to model the case study. The Enhanced Acoustics Simulator for Engineers (EASE) software program was used to integrate critical parameters such as the absorption coefficient of materials, dome shapes and the number of domes in the simulation. The study employed speech intelligibility parameters such as C50, S.T.I. and %ALcons to assess the acoustic conditions. The assessment model was validated through statistical analysis and a paired t-test.

Findings

The study discovered that varying shapes of the multiple domes showed no significant impact on speech intelligibility. However, different multiple domes materials resulted in significant disparities in speech intelligibility. Applying high-absorption materials in multiple dome designs achieved the most effective acoustic performance. Except for C50 in some circumstances and receiver positions, all other alternatives met the optimal value for overall speech intelligibility because the sound was not sufficiently diffused early on, suggesting that the early reflection sounds were either weak or insufficient.

Originality/value

This study not only helps to determine the multiple-dome effect on mosque acoustics but also empowers archaeoacoustics and historic conservation by documenting these significant places of worship. The findings advocate using high-absorption materials in multiple dome designs and offer practical insight into mosque design material selection. By enhancing the understanding of the acoustic conditions in small-scale mosques, this study equips architects, engineers and builders with the knowledge to create spaces prioritizing speech clarity and intelligibility.

Details

International Journal of Building Pathology and Adaptation, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2398-4708

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Book part
Publication date: 3 April 2018

Silviya Svejenova and Lærke H⊘jgaard Christiansen

This study explores how creative leadership unfolds in the pursuit of social purpose. Drawing on the case of an architectural firm’s development of novel social housing model, we…

Abstract

This study explores how creative leadership unfolds in the pursuit of social purpose. Drawing on the case of an architectural firm’s development of novel social housing model, we identify claims of three creative leadership processes and of scaling up for social impact. The study expands the conceptualization of creative leadership to the context of social change. It also adds to the understanding of creative industries by suggesting social purpose as a distinctive, yet underexplored driver of innovation and a source of different balancing act, as well as an important frontier for research on and practice in the creative industries.

Details

Frontiers of Creative Industries: Exploring Structural and Categorical Dynamics
Type: Book
ISBN: 978-1-78743-773-9

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Article
Publication date: 30 August 2022

Jorge Alejandro Silva, Dulce María Monroy Becerril and Esteban Martínez Díaz

This systematic review of literature purposes to explore the impact of climate change on Mexico's water resources, exploring the impacts and efforts to address the problem as well…

447

Abstract

Purpose

This systematic review of literature purposes to explore the impact of climate change on Mexico's water resources, exploring the impacts and efforts to address the problem as well as their effectiveness.

Design/methodology/approach

The researcher relied on several tools to obtain scholarly articles. The primary approach was using preferred reporting items for systematic reviews and meta-analyses. The Journal Impact Factor was an important consideration for the inclusion and exclusion criteria. The work also excluded all journals predating 2009. The work emphasized using journal articles. However, it consulted textbooks and documents from the government and water conservation sources. Contextually the sources with the highest Journal Impact Factor index were selected, paying heed to their relevance to the topic under investigation. Fifty sources out of seventy were included in the systematic review.

Findings

Mexico's already strained water resources have been negatively impacted by climate change, behooving the Mexican government to implement various mitigative strategies. However, scholars reported mixed results on the effectiveness of the various policies and programs implemented by the Mexican government. Key impediments to sustainable implementations entailed the political and social contexts surrounding the conservation policies in Mexico.

Originality/value

Numerous articles have explored the impact of climate change on Mexico's water resources, but many focus on a specific aspect. This work took a holistic approach, synthesizing multiple impacts and providing a sociological perspective on the effects, mitigation efforts, and implementation challenges.

Details

Management of Environmental Quality: An International Journal, vol. 34 no. 2
Type: Research Article
ISSN: 1477-7835

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Book part
Publication date: 12 January 2021

José-Luis Méndez

Departing from a so-called “modern civil service” as an ideal type, this chapter evaluates the status of public personnel management in Latin America. Such an ideal model is…

Abstract

Departing from a so-called “modern civil service” as an ideal type, this chapter evaluates the status of public personnel management in Latin America. Such an ideal model is considered a mix between the organizational principles of the traditional civil service and those of the new public management perspective. First, the chapter presents the different phases that public management practices have undergone in some developed countries. Secondly, following several studies and data provided by the IADB, the level of development of several civil service systems in Latin America is analyzed and several of their construction–destruction–reconstruction patterns are presented. Lastly, the cases that most approach a modern civil service are discussed and some recommendations offered to reformers in this region.

Details

The Emerald Handbook of Public Administration in Latin America
Type: Book
ISBN: 978-1-83982-677-1

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Article
Publication date: 2 February 2015

Mariana Vieira dos Santos Kraemer, Priscila Pereira Machado, Nathalie Kliemann, David Alejandro González Chica and Rossana Pacheco da Costa Proença

The purpose of this paper is to relate average serving size intake by the Brazilian population and declared serving size, the presence of trans fat and household measure…

409

Abstract

Purpose

The purpose of this paper is to relate average serving size intake by the Brazilian population and declared serving size, the presence of trans fat and household measure fractioning declared on labels of processed, and ultra-processed food products.

Design/methodology/approach

Cross-sectional study that analyzed the food labelling of all processed and ultra-processed food products sold in a supermarket in southern Brazil.

Findings

A total of 1,071 processed and ultra-processed food products were analyzed. In 88 per cent of food groups, the average serving size consumed was larger than what was declared on labels. Consumed serving size was up to 9.2 times larger than the declared ones in food products with trans fat among their ingredients list and in false negatives and up to 9.9 times larger in foods with fractioned household measure (p<0.001). The Brazilian population consumes, on average, larger serving sizes than those declared on labels, which may represent a significant intake of trans fats without the consumers’ noticing.

Originality/value

This study has been performed with the use of a national database on food consumption, as well as the information from a large number of processed and ultra-processed food labels marketed in Brazil. This study is also proven to be important and novel, contributing with information as to the manner in which nutrition labelling has been presented to Brazilian consumers, discussing its possible consequences for food choices, intake, and the guarantee of consumer rights.

Details

British Food Journal, vol. 117 no. 2
Type: Research Article
ISSN: 0007-070X

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Article
Publication date: 4 July 2016

Waleska Nishida, Ana Carolina Fernandes, Marcela Boro Veiros, David Alejandro González Chica and Rossana Pacheco da Costa Proença

The purpose of this paper is to compare the sodium content displayed on the labels of conventional processed food products (C) and of those with nutrition claims suggesting the…

316

Abstract

Purpose

The purpose of this paper is to compare the sodium content displayed on the labels of conventional processed food products (C) and of those with nutrition claims suggesting the absence or reduced levels of nutrients (AR).

Design/methodology/approach

Cross-sectional study analyzing the ingredients list, nutrition facts and nutrition claims on food labels. Subjects: all processed food products with added salt or additives containing sodium that were for sale in a large supermarket in Brazil from October to December 2011.

Findings

All 3,449 products were analyzed and categorized into 66 groups according to Brazilian legislation. The median of sodium content in the AR was 42.7 percent higher than in the C (p=0.007). In 33.3 percent of the groups there was difference in sodium content between AR and C (p < 0.05) and in 68.2 percent of these the sodium content was higher in AR. The variation range of sodium in products from the same group reached 2,905.0 mg in C and 1,712.0 mg in AR. Even when the median of sodium was lower in the AR, the minimum sodium values were lower in the C.

Originality/value

Comparisons of sodium content of conventional and AR processed food are scarce in the literature, especially covering all food for sale in a large supermarket. To the best of the knowledge, this is the first census making this comparisons in Latin America.

Details

British Food Journal, vol. 118 no. 7
Type: Research Article
ISSN: 0007-070X

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Article
Publication date: 12 March 2018

Jorge Alejandro Silva-Rodríguez de San Miguel

The purpose of this paper is to explore water management practices in four criteria – access to potable water; despoilment or pollution levels; grade of sanitation architecture;…

735

Abstract

Purpose

The purpose of this paper is to explore water management practices in four criteria – access to potable water; despoilment or pollution levels; grade of sanitation architecture; and grade of delivery architecture – in a variety of different Latin American and European nations to establish techniques that are currently been utilised in Europe that could improve water management in Latin America.

Design/methodology/approach

A systematic review of the available literature on water management in Europe and Latin America is performed to uncover differences and similarities in Latin American and European nations. The documents find are mostly recent, ranging from the last five years (2012-2016).

Findings

Some best practices from Europe cannot be applied in Latin America due to lack of funding. Fortunately, this is likely to change, as many Latin American nations’ economies are rapidly improving. Tentative recommendations include installing a system of pipeline that passes through all rural areas, and governments partnering with local businesses to provide sanitation, and regular sanitation and environmental inspections to minimise water pollution. It is also advisable for serious consideration to be given to achieving a measure of universality vis-à-vis water management standards across Latin America.

Originality/value

There is limited information in literature on the analysis of water management in Europe and Latin America, so this paper serves as a reference to fill the gaps, mainly in Latin America because that region is in development compared to European countries with advanced water systems.

Details

Management of Environmental Quality: An International Journal, vol. 29 no. 2
Type: Research Article
ISSN: 1477-7835

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