Selected International Tax & Legal Consequences

A summary of foreign laws applicable to stock plans for 35 countries

A Qualitative inquiry into the relationship marketing practice of UK insurance brokers.

Significant changes in the UK insurance broking market in recent years have forced insurance brokers to ask: How can we retain our clients? What is the nature of our relationship with our clients? What are the key components in these relationships? How should we manage such relationships? Existing theories in the relationship marketing domain do not provide an answer to these questions. This research aims to form a framework reflecting the nature of broker-client relationship as a development process with key components influencing the quality of relationship attached to each stage of the process. Hence three research objectives are derived: 1) Form a development stage framework reflecting the nature of broker-client relationship; 2) Identify key components influencing relationship quality in each stages of the relationship; and 3) Discuss the model’s implication towards marketing practice. In this research the author takes an interpretivism-constructivist position, by bracketing the author’s value in the interview process, the interviewer (author) constructs the “reality” jointly with the interviewees (broker account executives). The qualitative approach is adopted so that the nature and meaning of broker-client relationships can be investigated in-depth. An abduction analytical approach is taken, which sits between induction and deduction, closer to an inductive perspective. The following data analysis process is then followed: organize data, immerse into data, generate categories and codes, coding data, generate themes, generate frameworks, and search for deviant cases and alternative understandings. Through the analysis of 5 in-depth qualitative interviews, the author reaches the following conclusions: A relationship typically has four stages: initiating, growing, maintaining and terminating. However, a relationship may not necessarily have all four stages, nor might it follow the same sequence. The key components affecting relationship quality in each stage of a relationship varies. In the initiating stage, the most critical components are trustworthiness, professionalism and communication. In the growing stage, they are trustworthiness, commitment, professionalism and calculative trust. In the maintaining stage, the most critical components are heuristic trust, communication, dependence, satisfaction and interaction and in the terminating stage, they are trustworthiness, professionalism and communication. The cost of maintaining a relationship increases whilst the relationship becomes closer. Customer’s expectation in a “too close” relationship can be excessively high. From the broker’s perspective, a balance must be maintained between both the total costs (the cost to the company plus social costs to the broker himself/herself) and the total benefits (benefit to the company and the broker himself/herself). The “tipping point” for the broker (the sole agent of the broker company) is the moment when such total costs overweigh total benefits. The above conclusion has three managerial implications for UK insurance brokers: 1) A relationship can be lost at any development stage of a relationship hence broker needs to be prepared to cope with such relationship. 2) Different strategy must be adopted for different stages of relationship. 3) Avoid the pitfalls of being “too close” in a relationship to keep relationship marketing efforts cost effective

Exploring Access and Equity in Malaysia’s Private Higher Education

Private higher education institutions (PrHEIs) are utilized to complement public provision due to financial constraints faced in public provision. However, increasing private provision has raised interesting questions as to who gets educated in these PrHEIs. Is increasing private supply enlarging the circle of opportunity to reach those who might otherwise have been unable to enter university or college? In other words, has the explosion in private supply translated into greater inclusion or increased exclusion? This paper explores access and equity issues in Malaysia’s private higher education system. Malaysia is an interesting case study due to the significant presence of PrHEIs in the country and their contribution toward student enrolment. The findings show that the Malaysian government has provided considerable financial support for the development of PrHEIs in the country, through the provision of incentives, subsidized loans, and scholarships. Quality assurance efforts further enhance the development of private provision, as student loans and scholarships are only provided for students on accredited programs. Therefore, PrHEIs have widened access and equity in the country with the help of government support. Despite this, Malaysia’s model of providing access and equity through private provision may be unsustainable, due to the poor repayment record of student loans and the economic need to reduce the fiscal deficit of the government.malaysia education; higher education; private higher education

The Corporate Income Tax System: Overview and Options for Reform

[Excerpt] The corporate income tax system has been a focus of many recent debates about tax reform and the economy. Many economists and policymakers argue that reform of the corporate income tax system is needed, although a variety of rationales on why and how have been offered. Some argue that a simpler system with lower tax rates is necessary to encourage domestic investment, employment, and economic growth. Others argue that reform is needed to close loopholes and restrict access to tax havens, both of which are seen by some to allow corporations to avoid taxes too easily. A number of others have advocated for corporate tax reform on the basis that the current system puts American corporations at a disadvantage when compared with foreign competitors. Many believe it is a combination of these arguments that justify reforming the corporate tax system. This report presents information and research on the corporate tax to help policymakers understand and evaluate arguments presented in the tax reform debate. Many of the topics and ideas discussed here are analyzed in greater detail in the other CRS reports and academic research referenced throughout. This report first reviews the structure of the corporate income tax. Data on which companies pay the corporate tax, corporate tax revenue, and how the U.S. system compares to the rest of the world is then presented and analyzed. Next, the economic effects of the corporate tax are reviewed—including a discussion of the purpose of the corporate tax, who bears the burden of the tax, and how to evaluate alternative corporate tax systems. The report then reviews broad reform options and concludes with a comparison of specific proposals that have been offered