Contributions of the Base Erosion and Profit Shifting BEPS Project on Transfer Pricing and Tax Avoidance

Globalization and digitalization lead to flaws and asymmetries in tax rules which were used by multinational companies in their own benefit. Then, to face tax avoidance and tax losses which represents 100 to 240 billion dollars per year, Organization for Economic Co-operation and Development and G-20 implement, since 2012, the Base Erosion and Profit Shifting project, base erosion and profit shifting, which is the most important international reform that tax system has known

Macroprudential policy and financial stability, role and tools

The aim of macroprudential policy is to ensure financial stability by avoiding the outbreak of banking crises, which have a dangerous effect on the economy. Is macroprudential policy effective in the face of banking crises and systemic risks? Macroprudential policy has received significant interest from policy-makers and researchers. A few developing countries were using macroprudential policy tools well before the 2008 financial crisis, but significant progress has been made thereafter in both emerging and industrialized economies to put in place specific institutional settings for macroprudential policy

The impact of stockmarket development on economic growth in Singapore. econometric study based on an autoregressive distribution lag (ARDL) model covering the period from 1990 to 2020.

The main objective of this paper is to discuss and examine the relationship between the development of stock market and economic growth and to show if the economic growth is positively influenced by stock market development in Singapore. Theoretically, some economists postulate a bidirectional relationship between financial development and economic growth, while others consider that growth drives finance, but that financial development is only a minor growth factor. We used an econometric study based on an autoregressive distribution lag (ARDL) model covering the period from 1990 to 2020 which is supported by the Asian financial crisis of 1997, obtained from various sources, in particular World Bank data and International Monetary Fund reports. Economic growth is expressed by GDP per capita, while stock market development is measured by market capitalization of domestic listed companies (% of GDP), shares traded total value (% of GDP) and stocks traded turnover ratio of domestic shares (%). The results show that the capitalization of domestic listed companies and the turnover ratio of domestic stocks have a positive and significant effect on gross domestic product per capita in the short and long run. However, shares traded total value hasa negative impact on gross domestic product per capita in short and long term. The contribution of our results suggests that stock market development promotes short and long-run growth in Singapore. Our findings can be of direct value to developed or emerging countries while they are of indirect value to less developed economies that may be committed to certain policy or regulatory decisions

Firm growth vs. external growth: a behavioral approach

A firm is a market contradiction: as a firm grows, the market shrinks. The basis of this statement are theoretical approaches, which are called theories of the company. This work is aimed at determining the boundaries of the company in a dynamic perspective with the aim of finding effective solutions to the process of its growth. The study notes that opportunism as a behavioral factor, as Williamson noted, incurs significant operating costs that encourage the firm to change its boundaries

Marketing Practices For Dairy Products From Small-Scale Farms, Case: Region Of Tiziouzou – Algeria

The objective of our work is to identify the different marketing practices and to characterize the organizational constraints that hinder the productivity and profitability of small-scale livestock farms in the mountainous region of Fréha and Sidi-Naman, located in the region of Tizi-Ouzou, Algeria. Due to its high milk production potential, the targeted region was selected as a study area. The importance of our work lies in the determination of the key factors, which prevent small-scale milk producers from carrying out their livestock activities successfully. A quantitative questionnaire survey was conducted with 30 farmers

Analiza strukturalna i termiczna wirnika samochodowego hamulca tarczowego

The main purpose of this study is to analyze the thermomechanical behavior of the dry contact between the brake disc and pads during the braking phase. The simulation strategy is based on softawe ANSYS11. The modeling of transient temperature in the disc brake is actually used to identify the factor of geometric design of the disc to install the ventilation system in vehicles. The thermal-structural analysis is then used with coupling to determine the deformation established and the Von Mises stress in the disc, the contact pressure distribution in pads. The results are satisfactory compared to those of the specialized literature.Głównym celem pracy jest analiza zjawisk termomechanicznych w obszarze suchego styku pomiędzy tarczą hamulca a klockiem ciernym występujących w fazie hamowania. Strategia symulacji jest oparta na oprogramowaniu ANSYS11. Wyniki modelowania stanów przejściowych temperatury w tarczy hamulca wykorzystano do identyfikacji geometrycznych współczynników projektowych, użytych do instalacji systemu wentylacji. Sprzężona analiza strukturalno-termiczna jest następnie użyta do wyznaczenia deformacji tarczy, naprężenia Von Misses’a, oraz rozkładu ciśnienia kontaktowego w klockach ciernych. Wyniki analizy wykazują zadowalającą zgodność z podobnymi podawanymi w literaturze

Macroprudential policy and financial stability, role and tools

The aim of macroprudential policy is to ensure financial stability by avoiding the outbreak of banking crises, which have a dangerous effect on the economy. Is macroprudential policy effective in the face of banking crises and systemic risks? Macroprudential policy has received significant interest from policy-makers and researchers. A few developing countries were using macroprudential policy tools well before the 2008 financial crisis, but significant progress has been made thereafter in both emerging and industrialized economies to put in place specific institutional settings for macroprudential policy

Characterization of various coatings in terms of friction and wear for internal combustion engine piston rings

International audienceNowadays, as the environmental regulations are becoming more pregnant, in particular the end of the use of CrVI in the manufacturing processes, a need for new materials solutions is required. The use of the electrolytic depo sition process for the growth of chromium metal coatings requires that, in short term, alternative solutions need to be found. The purpose of this work is to test several alterna tive coatings likely to replace the current chromium coat ing used on the top ring of the engine pistons. For the realisation of this work, a PLINT TE 77 tribometer specifically designed for this study of friction in lubricated mode has been used. This type of configuration is well appropriate for the simulation of a contact between piston ring and cylinder liner of an engine. Various types of coatings have been tested and some alternative solutions have been identified

Study of various type of piston ring coatings and their influence on friction and wear of the piston rings/liners couples of internal combustion engines

International audienc