Mei Kuin Lai, Stuart McNaughton, Rebecca Jesson and Aaron Wilson
Henry Huang, Li Sun and Joseph Zhang
This paper examines the relationship between environmental uncertainty and tax avoidance at the firm level. We posit that managers faced with more uncertain environments are…
Abstract
This paper examines the relationship between environmental uncertainty and tax avoidance at the firm level. We posit that managers faced with more uncertain environments are likely to engage in more tax avoidance activities. We find a significant and negative relationship between environmental uncertainty and effective tax rates, and our results persist through a battery of robust checks. We further find that managerial ability mitigates the above relationship. Moreover, we find that small, highly leveraged, and innovative firms operating in uncertain environments engage in more tax avoidance.
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Beth G. Clarkson, Daniel Plumley, Christina Philippou, Rob Wilson and Tom Webb
Despite multiple structural changes since its 2011 inception, many English Women's Super League (WSL) clubs have recorded losses and carried debt, leading to concerns about the…
Abstract
Purpose
Despite multiple structural changes since its 2011 inception, many English Women's Super League (WSL) clubs have recorded losses and carried debt, leading to concerns about the financial health of the league. This study is the first to analyse the financial health of any professional women's sports league in the world. The authors examine WSL club finances between 2011 and 2019, theoretically situate the findings within joint production, and make policy recommendations.
Design/methodology/approach
In total, 73 annual accounts of 14 WSL clubs between 2011 and 2019 were scrutinised.
Findings
Since 2011, club revenue has increased 590% but is outstripped by club debt increase (1,351%). The authors find poor financial health throughout the league, which may damage both its and the clubs' future growth. Findings also indicate an emergent group of dominant clubs on and off the pitch, which may threaten long-term sporting integrity and disrupt the joint production of the WSL product.
Practical implications
Women's football exists at an important crossroad, and its next moves need careful consideration in relation to its governance structures and league design.
Originality/value
The authors provide a road map for necessary action (e.g. revenue distribution, licensing criteria, rewards) to protect the financial health of the WSL's clubs and promote sporting competition to assist the sport to capitalise further on positive gains in recent years.
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This chapter examines the impact of banking competition, bank regulation, and the global financial crisis (GFC) of 2008–2009 on banks’ productivity changes. For the empirical…
Abstract
This chapter examines the impact of banking competition, bank regulation, and the global financial crisis (GFC) of 2008–2009 on banks’ productivity changes. For the empirical analysis, I apply a semi-parametric two-step approach of Malmquist index estimates and bootstrap regression to a cross-country panel data of 8,451 commercial banks from 82 countries over the period 2004–2012. Empirical results show that (1) banking competition and capital regulation significantly enhance bank productivity, (2) a tighter bank supervision have a positive impact on bank productivity, and (3) bank productivity decreases during the GFC, but starts to increase as the GFC recovers. I also present consistent evidence that commercial banks in countries with better national governance have higher productivity growth before, during and after the GFC.
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Giampaolo Montaletti, Mike Martin, Rob Wilson and David Jamieson
Policy entrepreneurs often experience thorny dilemmas, finding themselves between the “rock and a hard place” or, as the Italian equivalent idiom would have it, between the…
Abstract
Policy entrepreneurs often experience thorny dilemmas, finding themselves between the “rock and a hard place” or, as the Italian equivalent idiom would have it, between the “hammer and the anvil.” Crisis and the associated problems that arise often bring changes in politics and policy in its wake, and this begs the question of what are the resources and assets required to operate successfully as a place-based public policy entrepreneur. The role of policy entrepreneurs has been studied over many years with one of the most influential theories being the multiple streams approach (MSA) originally devised in the 1980s which sought to counter perceptions of the random or “garbage can” nature of policymaking and implementation. MSA describes a more rational process where policy entrepreneurs shape “windows” of opportunity where streams of problem, policy, and politics are brought together to create innovative responses to situations in society. The authors explore these ideas through the lens of a longitudinal case study of Labor Market policy interventions (including the role of a personal budget system for education and training called “Dote”) in the Lombardy Region, Italy, using MSA as an analytical framework. This case suggests that the pressing need to move away from short-term structural responses to complex social issues is potentially addressed by an emerging approach for the parallel deployment of sociotechnical platform infrastructure resources and superstructure. Adoption of the approaches outlined here afford streaming opportunities on which policy entrepreneurs can dynamically bring the multiple streams of problem–policy–politics together across political cycles in a more persistent and sustainable way.