• Title/Summary/Keyword: horizontal equity

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Gender Differences in Learning Middle School functional Mathematization (중학교 함수의 수학화 과정에서의 성차 연구)

  • Ko, Ho-Kyoung;Choi-Koh, Sang-Sook
    • The Mathematical Education
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    • v.47 no.3
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    • pp.273-290
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    • 2008
  • This article provides how to implement the use of Realistic Mathematics Education (RME) in a teaching a function at a school to improve the equity based on the gender in students' mathematization for their mathematical thinking using technology. This study was planed to get research results using the mixed methodology with qualitative and quantitative methodologies. 120 middle school students participated in the study to bring us data about their mathematical achievement. Through the data analysis used by ANCOVA for the qualitative method, the students with the experiment of the mathematization based on technology excelled the other groups of students who were not provided with technology or both of them. Through the data analysis used by the constant comparative method for the qualitative data, the technology environment had helped the female students manipulate learning trends easily, strong construction on horizontal mathematization, depending on discussion with peers, and more reflexive thinking using a calculator. This means that teachers can put careful assignment on each category of mathematization regarding the gender. The study results in a lot of resources for teachers to use into their teaching mathematics for improving students' equity in interactive technology environment.

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Renewing Tonnage Taxation of Shipping in Linkage to Greenship Certification Scheme (친환경선박 인증과 연계한 톤세제도 합리화 방안)

  • Junkeon Ahn;Jieun Lee
    • Journal of the Society of Naval Architects of Korea
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    • v.60 no.2
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    • pp.86-94
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    • 2023
  • Tonnage taxation has contributed to developing the Korean maritime industry through tax relief for shipping companies. The current tonnage taxation relies on the net tonnage as an earning-capacity indicator in a merchant ship. Although the tonnage tax accords with horizontal equity, it does not match vertical equity because of the different taxable capacities of an individual company. Nowadays, maritime transport uses a dedicated vessel, and each shipping freight embeds a different value of time. It means the tonnage taxation regime should consider the added value of each shipping freight. Meanwhile, as the environmental regulations led by the International Maritime Organization are being strengthened, the Korean merchant fleet must be eco-friendly soon after. This study explores the alternative to renewing tonnage taxation by utilizing the Greenship certification and considering the ability-to-pay principle. Because the Greenship certification scheme encourages shipping decarbonization, maritime transport by a certified ocean-going vessel comes to be treated as an activity for the green economy. Special taxation for the green economy may contribute to shipping sustainability and market competitiveness.

The determinants of Fiscal Sustainability of Welfare State (복지국가의 재정적 지속가능성 결정요인)

  • Ko, Hyejin
    • Korean Journal of Social Welfare Studies
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    • v.47 no.4
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    • pp.217-254
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    • 2016
  • The purpose of this study is comparing fiscal sustainability of 17 welfare states. Borrowed the concept of fiscal space to Ostry et al(2010) and Ghosh et al(2011), this study measures the fiscal sustainability in welfare states. Using data collected from 20 OECD countries from 1986 to 2013, this study attempts to evaluate the financial sustainability of each country. As a result, it is necessary that the appropriate level of tax burden is secured. Tax revenue is the funded basis for maintaining the welfare state, so increasing tax compliance to offset the negative impact of increasing welfare spending will promote social cohesion. In therms of tax structure, in accordance with the ability to pay principle, it is important to raise the equity between the source of taxation. Reducing the gap between labor and capital tax is required to achieve horizontal equity, It is also useful to utilize the financial base of the welfare state by broadening the tax base though a consumption tax. Improving the vertical equity can also make a positive contribution to the fiscal sustainability of the welfare state.

A Study on the Taxation Equity between Non-Residential Real Estate and Apartment Houses (비주거용 부동산과 아파트의 과세형평성에 관한 연구)

  • Im, Dong Heok;Choi, Min Seub
    • Korea Real Estate Review
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    • v.27 no.3
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    • pp.87-102
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    • 2017
  • The purpose of this study was to compare the taxation equity of non-residential collective real estate based on its standard market prices set by National Tax Service and those for taxation set by the Ministry of Government Administration and Home Affairs with that of the apartment houses in Seoul, South Korea. The study findings were as follows. First, the analysis results of the standard market price rates of non-residential collective real estate pointed to a huge gap in the assessment rate (AR) of the taxation standards among the Gu offices. Second, there was a big coefficient of dispersion (COD) in the standard market prices of non-residential collective real estate, which confirmed the presence of horizontal inequity. Finally, there was regressive vertical inequity, which leads to the undervaluation of high-value assets, in the standard market prices of non-residential collective real estate. The evaluation of the standard market prices of non-residential collective real state should thus reflect the market prices and the addition and assessment of the land and buildings to achieve taxation equity. Based on these findings, it is hoped that this study will make a significant contribution to the improvement of the official announcement system for non-residential real estate based on real transactions during the shift to such system.

Regional Resilience of Industrial Ecosystem in Financial Crisis: Comparison between Toyota-Kariya Automotive Subcontractor Cities and Hamamatsu Start-Up City

  • Fujiwara, Takao
    • Asian Journal of Innovation and Policy
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    • v.7 no.1
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    • pp.9-29
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    • 2018
  • Japan's manufacturing is mostly dependent on the automotive industry in Toyota-Kariya cities. However, the nearby city of Hamamatsu is the home of a start-up ecosystem known as Japan's Silicon Valley. How is it possible to evaluate the innovative potential of each regional industry? What kind of guidelines exist for continuing R&D investment when companies' net incomes are negative in the face of the 'Valley-of-Death' or financial crisis? Is it possible to measure the regional resilience ability in the context of the financial crisis? Entrepreneurial innovation is defined as a real-option portfolio consisting of investment decision to commercialize R&D findings. The subcontractor system implies a vertical and tight industrial group. However, a start-up ecosystem means a platform for horizontal and flexible partnership. In this research, the data include the financial indices of each of 18 public companies in both regions between FY2009 and FY2017. The objective of this paper is to clarify the call option or resilience function of equity for R&D investment in the context of the financial crisis in both regions by using Bayesian MCMC analysis.

The Impact of Mergers on the Financial Performance of Jordanian Public Shareholding Companies

  • AYOUSH, Maha;RABAYAH, Hesham;JIBREEL, Thaer
    • The Journal of Asian Finance, Economics and Business
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    • v.7 no.10
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    • pp.751-759
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    • 2020
  • This study examines the impact of mergers on the financial performance of the Jordanian public shareholding companies. The study employs data collected for a sample of 10 Jordanian non-financial public firms that were engaged in legal horizontal merger deals between 2000 and 2013. The data was collected from the published annual financial reports of the merging companies and comparative companies for three years before the merger and three years after the merger. Event study methodology was applied to examine the data. Four measures of financial performance (FP) were used, which are return on assets (ROA), return on equity (ROE), earnings per share (EPS), and net profit margin (NPM). Two methods were used in the analysis - the change model and the intercept model using financial performance raw data and industry-adjusted data. The findings in general showed no significant impact of mergers on the financial performance of merging firms using the change model. However, by using the intercept model, significant impact of mergers on the financial performance was found on the sample of the study. The significant impact was found for mergers on the raw ROE of the merging firms, and on the ROA and NPM of the industry-adjusted firms.

The Economic Effects of Tax Incentives for Housing Owners: An Overview and Policy Implications (주택소유자(住宅所有者)에 대한 조세감면(租稅減免)의 경제적(經濟的) 효과(效果) : 기존연구(旣存硏究)의 개관(槪觀) 및 정책시사점(政策示唆點))

  • Kim, Myong-sook
    • KDI Journal of Economic Policy
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    • v.12 no.2
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    • pp.135-149
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    • 1990
  • Housing owners in Korea have a variety of tax advantages such as income tax exemption for the imputed rent of owner-occupied housing, exemption from the capital gains tax and deduction of the estate tax for one-house households. These tax reliefs for housing owners not only conflict with the principle of horizontal and vertical equity, but also lead to resource misallocation by distorting the housing market, and thus bring about regressive distribution effects. Particularly in the case of Korea with its imperfect capital market, these measures exacerbate the inter-class inequality of housing ownership as well as inequalities in wealth, by causing the affluent to demand needlessly large housing, while the poor and young experience difficulties in purchasing residential properties. Therefore, the Korean tax system must be altered as follows in order to disadvantage owner-occupiers, especially those owners of luxury housing. These alterations will promote housing-ownership, tax burden equity, efficiency of resource allocation, as well as the desirable distribution of income. First, income tax deductions for the rent payments of tenants are recommended. Ideally, the way of recovering the fiscal equivalence between the owner-occupiers and tenants is to levy an income tax on the former's imputed rents, and if necessary to give them tax credits. This, however, would be very difficult from a practical viewpoint, because the general public may perceive the concept of "imputed rent" as cumbersome. Computing the imputed rent also entails administrative costs, rendering quite reasonable, the continued exemption of imputed rent from taxation with the simultaneous deduction in the income tax for tenants. This would further enhance the administrative efficiency of income tax collection by easing assessment of the landlord's income. Second, a capital gains tax should be levied on the one-house household, except with the postponement of payments in the case that the seller purchases higher priced property. Exemption of the capital gains tax for the one-house household favors those who have more expensive housing, providing an incentive to the rich to hold even larger residences, and to the constructors to build more luxurious housing to meet the demand. So it is not desirable to sustain the current one-house household exemption while merely supplementing it with fastidious measures. Rather, the rule must be abolished completely with the concurrent reform of the deduction system and lowering of the tax rate, measures which the author believes will help optimize the capital gains tax incidence. Finally, discontinuation of the housing exemption for the heir is suggested. Consequent increases in the tax burden of the middle class could be mitigated by a reduction in the rate. This applies to the following specific exemptions as well, namely, for farm lands, meadows, woods, business fields-to foster horizontal equity, while denying speculation on land that leads to a loss in allocative efficiency. Moreover, imperfections in the Korean capital market have disallowed the provision of long term credit for housing seekers. Remedying these problems is essential to the promotion of greater housing ownership by the low and middle income classes. It is also certain that a government subsidy be focused on the poorest of the poor who cannot afford even to think of owning a housing.

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Socioeconomic development, gender equity and birthrate's determinant: focused on the family axis' transformation model (사회경제적 발전, 양성평등 그리고 출산율의 결정요인 -가족 중심축의 수평화 2단계 모형을 중심으로-)

  • Lee, Je-Sang;Song, Yoo-Mee
    • Journal of the Korea Academia-Industrial cooperation Society
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    • v.17 no.11
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    • pp.256-270
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    • 2016
  • This purpose of this study is to present a new theoretical framework on birthrate recovery in advanced countries in the 21st century. As a result of socioeconomic development and individualism diffusion, the central axis of the family has transformed from the vertical axis of the father-son relation, to the horizontal axis of the husband-wife relation. This process is divided into 2 stages. In the industrialization stage, a nation or a society achieves equality of the individual in family formation, including marriage or divorce. In the post-industrialization stage, it accomplishes the couple equality in family maintenance, including child rearing and household labor. This paper grouped 33 OECD member countries as post- industrialization countries and 103 countries as industrialization countries. This study utilizes 6 variables affecting marriage and childbearing based on previous research. Research results find that during the industrialization stage, the birthrate falls as the education level of women is higher. In the post-industrialization stage, the birthrate rises as gender equality level is higher.

The Gains To Bidding Firms' Stock Returns From Merger (기업합병의 성과에 영향을 주는 요인에 대한 실증적 연구)

  • Kim, Yong-Kap
    • Management & Information Systems Review
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    • v.23
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    • pp.41-74
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    • 2007
  • In Korea, corporate merger activities were activated since 1980, and nowadays(particuarly since 1986) the changes in domestic and international economic circumstances have made corporate managers have strong interests in merger. Korea and America have different business environments and it is easily conceivable that there exists many differences in motives, methods, and effects of mergers between the two countries. According to recent studies on takeover bids in America, takeover bids have information effects, tax implications, and co-insurance effects, and the form of payment(cash versus securities), the relative size of target and bidder, the leverage effect, Tobin's q, number of bidders(single versus multiple bidder), the time period (before 1968, 1968-1980, 1981 and later), and the target firm reaction (hostile versus friendly) are important determinants of the magnitude of takeover gains and their distribution between targets and bidders at the announcement of takeover bids. This study examines the theory of takeover bids, the status quo and problems of merger in Korea, and then investigates how the announcement of merger are reflected in common stock returns of bidding firms, finally explores empirically the factors influencing abnormal returns of bidding firms' stock price. The hypotheses of this study are as follows ; Shareholders of bidding firms benefit from mergers. And common stock returns of bidding firms at the announcement of takeover bids, shows significant differences according to the condition of the ratio of target size relative to bidding firm, whether the target being a member of the conglomerate to which bidding firm belongs, whether the target being a listed company, the time period(before 1986, 1986, and later), the number of bidding firm's stock in exchange for a stock of the target, whether the merger being a horizontal and vertical merger or a conglomerate merger, and the ratios of debt to equity capital of target and bidding firm. The data analyzed in this study were drawn from public announcements of proposals to acquire a target firm by means of merger. The sample contains all bidding firms which were listed in the stock market and also engaged in successful mergers in the period 1980 through 1992 for which there are daily stock returns. A merger bid was considered successful if it resulted in a completed merger and the target firm disappeared as a separate entity. The final sample contains 113 acquiring firms. The research hypotheses examined in this study are tested by applying an event-type methodology similar to that described in Dodd and Warner. The ordinary-least-squares coefficients of the market-model regression were estimated over the period t=-135 to t=-16 relative to the date of the proposal's initial announcement, t=0. Daily abnormal common stock returns were calculated for each firm i over the interval t=-15 to t=+15. A daily average abnormal return(AR) for each day t was computed. Average cumulative abnormal returns($CART_{T_1,T_2}$) were also derived by summing the $AR_t's$ over various intervals. The expected values of $AR_t$ and $CART_{T_1,T_2}$ are zero in the absence of abnormal performance. The test statistics of $AR_t$ and $CAR_{T_1,T_2}$ are based on the average standardized abnormal return($ASAR_t$) and the average standardized cumulative abnormal return ($ASCAR_{T_1,T_2}$), respectively. Assuming that the individual abnormal returns are normal and independent across t and across securities, the statistics $Z_t$ and $Z_{T_1,T_2}$ which follow a unit-normal distribution(Dodd and Warner), are used to test the hypotheses that the average standardized abnormal returns and the average cumulative standardized abnormal returns equal zero.

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