Sign in to use this feature.

Years

Between: -

Subjects

remove_circle_outline
remove_circle_outline
remove_circle_outline
remove_circle_outline
remove_circle_outline
remove_circle_outline
remove_circle_outline
remove_circle_outline
remove_circle_outline

Journals

Article Types

Countries / Regions

remove_circle_outline
remove_circle_outline
remove_circle_outline

Search Results (260)

Search Parameters:
Keywords = effective tax rate

Order results
Result details
Results per page
Select all
Export citation of selected articles as:
22 pages, 986 KiB  
Article
Promoting Freight Modal Shift to High-Speed Rail for CO2 Emission Reduction: A Bi-Level Multi-Objective Optimization Approach
by Lin Li
Sustainability 2025, 17(14), 6310; https://doi.org/10.3390/su17146310 - 9 Jul 2025
Viewed by 330
Abstract
This paper investigates the optimal planning of high-speed rail (HSR) freight operations, pricing strategies, and government carbon tax policies. The primary objective is to enhance the market share of HSR freight, thereby reducing carbon dioxide (CO2) emissions associated with freight activities. [...] Read more.
This paper investigates the optimal planning of high-speed rail (HSR) freight operations, pricing strategies, and government carbon tax policies. The primary objective is to enhance the market share of HSR freight, thereby reducing carbon dioxide (CO2) emissions associated with freight activities. The modal shift problem is formulated as a bi-level multi-objective model and solved using a specifically designed hybrid algorithm. The upper-level model integrates multiple objectives of the government (minimizing tax while maximizing the emission reduction rate) and HSR operators (maximizing profits). The lower-level model represents shippers’ transportation mode choices through network equilibrium modeling, aiming to minimize their costs. Numerical analysis is conducted using a transportation network that includes seven major central cities in China. The results indicate that optimizing HSR freight services with carbon tax policies can achieve a 56.97% reduction in CO2 emissions compared to air freight only. The effectiveness of the government’s carbon tax policy in reducing CO2 emissions depends on shippers’ emphasis on carbon reduction and the intensity of the carbon tax. Full article
Show Figures

Figure 1

30 pages, 364 KiB  
Article
Optimizing Tax Compliance: Understanding the Link Between Company Tax Administration and Tax Avoidance (A Survey of Public Companies in Indonesia, Malaysia, Singapore, and Thailand for the 2022–2023 Period)
by Arie Pratama and Kamaruzzaman Muhammad
Economies 2025, 13(7), 194; https://doi.org/10.3390/economies13070194 - 6 Jul 2025
Viewed by 777
Abstract
Tax compliance remains a critical issue in corporate taxation research, particularly in understanding the causal link between the administration of corporate tax and tax avoidance. This study investigates the potential simultaneous relationship between the two by analyzing 277 listed firms across four Southeast [...] Read more.
Tax compliance remains a critical issue in corporate taxation research, particularly in understanding the causal link between the administration of corporate tax and tax avoidance. This study investigates the potential simultaneous relationship between the two by analyzing 277 listed firms across four Southeast Asian countries using two-year average data (2022–2023). The administration of corporate tax is measured using eight disclosure-based indicators from the Refinitiv Eikon database, while tax avoidance is proxied by the effective tax rate (ETR). The primary analysis applies multiple regression to assess the effect of tax administration on tax avoidance and logistic regression to evaluate the reverse relationship. To address endogeneity and test for simultaneity, robustness checks using two-stage least squares (2SLS) and instrumental variable techniques are employed. The results confirm a bidirectional relationship: a stronger administration of corporate tax is associated with lower tax avoidance, while tax avoidance behavior also shapes tax administration practices. These findings underscore the importance of strengthening internal tax governance as a foundation for compliance. Given varying levels of tax administration across countries, this study calls for greater international coordination to standardize corporate tax governance practices and reduce avoidance incentives. Full article
29 pages, 1010 KiB  
Article
Dissecting the Economics of Tourism and Its Influencing Variables—Facts on the National Capital City (IKN)
by Iis Surgawati, Surya Darma, Agus Muriawan Putra, Sarifudin Sarifudin, Misna Ariani, Ihsan Ashari and Dio Caisar Darma
Tour. Hosp. 2025, 6(3), 125; https://doi.org/10.3390/tourhosp6030125 - 1 Jul 2025
Viewed by 588
Abstract
The field of tourism economics has consistently attracted big attention from scholars across various countries. Tourism is inherently linked to economic aspects. Concurrently, Indonesia has relocated its Ibu Kota Negara/National Capital City, now named “IKN”, from Jakarta to East Kalimantan. In addition to [...] Read more.
The field of tourism economics has consistently attracted big attention from scholars across various countries. Tourism is inherently linked to economic aspects. Concurrently, Indonesia has relocated its Ibu Kota Negara/National Capital City, now named “IKN”, from Jakarta to East Kalimantan. In addition to extensive public infrastructure development, the Indonesian government is also working to revitalize the tourism sector in IKN. To assess the economic feasibility of this sector, an in-depth study is necessary. This research aims to examine labor absorption, tourist visits, and economic growth as indicators of successful tourism economic performance. It also analyzes the variables that influence these indicators, including (1) wages, (2) occupancy rates, (3) room rates, (4) food and beverage facilities, (5) inflation, (6) hotel and lodging taxes, (7) restaurant and eating-house taxes, and (8) investment. The regression testing method employs Ordinary Least Squares (OLS). According to the data analyzed from 2013 to 2024, the authors identified three main points: First, tourist visits and inflation have positive and significant impacts on labor absorption. Second, labor absorption, wages, occupancy rates, economic growth, and investment positively and significantly influence tourist visits. Third, tourist visits, room rates, food and beverage facilities, and inflation have positive and significant effects on economic growth. The implications of this research can be enlightening for regulators and future initiatives. This is particularly important for guiding further empirical investigations and policy planning aimed at accelerating economic development in the tourism sector. Full article
Show Figures

Figure 1

24 pages, 3754 KiB  
Article
Route Optimization of Multimodal Transport Considering Regional Differences under Carbon Tax Policy
by Liqing Gao and Miaomiao Zhan
Sustainability 2025, 17(13), 5743; https://doi.org/10.3390/su17135743 - 22 Jun 2025
Viewed by 500
Abstract
Environmental sustainability is receiving growing global attention, making the development of low-carbon and green transportation increasingly important. Low-carbon policies offer significant advantages in incentivizing energy conservation and reducing emissions in the transportation sector; however, it is vital to consider the impacts of regional [...] Read more.
Environmental sustainability is receiving growing global attention, making the development of low-carbon and green transportation increasingly important. Low-carbon policies offer significant advantages in incentivizing energy conservation and reducing emissions in the transportation sector; however, it is vital to consider the impacts of regional differences on the implementation effect of low-carbon policies. This paper explores multimodal transportation route optimization under a carbon tax policy. First, a bi-objective route optimization model is constructed, with the goal of minimizing total transportation cost and time, while accounting for uncertain demand, fixed departure schedules, and regional differences. Trapezoidal fuzzy numbers are used to represent uncertain demand, and a fuzzy adaptive non-dominated sorting genetic algorithm is designed to solve the bi-objective optimization model. The algorithm is then tested on differently sized networks and on real-world transportation networks in eastern and western China to validate its effectiveness and to assess the impacts of regional differences. The experimental results show the following. (1) When considering transportation tasks at different network scales, the proposed fuzzy adaptive non-dominated sorting genetic algorithm outperforms the NSGA-II algorithm, achieving minimum differences in percentages of cost and time of 9.25% and 7.72%, respectively. (2) For transportation tasks assessed using real-world networks in eastern and western China, an increase in the carbon tax rate significantly affects carbon emissions, costs, and time. The degree of carbon emission reduction varies depending on the development of the regional transportation network. In the more developed eastern region, carbon emissions are reduced by up to 44.17% as the carbon tax rate increases. In the less developed western region, the maximum reduction in carbon emissions is 14.37%. The carbon tax policy has a more limited impact in the western region compared to the eastern one. Therefore, formulating differentiated carbon tax policies based on local conditions is an effective way to maximize the economic and environmental benefits of multimodal transportation. Full article
Show Figures

Figure 1

16 pages, 3385 KiB  
Article
Effects of C-Ring Structural Differences on the Inhibition of Nε-(Carboxyethyl)lysine in the Methylglyoxal-Lysine System by Flavonoids
by Yating Ling, Linlin Zhang, Bangzhu Peng and Zhuo Zhang
Int. J. Mol. Sci. 2025, 26(12), 5914; https://doi.org/10.3390/ijms26125914 - 19 Jun 2025
Viewed by 439
Abstract
This study investigated the effects of taxifolin (Tax), quercetin (Que), (+)-catechin (Cat) and luteolin (Lute) on the advanced Maillard reaction stage in the methylglyoxal-lysine (MGO-Lys) system. Since the four flavonoids share identical A- and B-ring structures, the inhibitory effects and molecular [...] Read more.
This study investigated the effects of taxifolin (Tax), quercetin (Que), (+)-catechin (Cat) and luteolin (Lute) on the advanced Maillard reaction stage in the methylglyoxal-lysine (MGO-Lys) system. Since the four flavonoids share identical A- and B-ring structures, the inhibitory effects and molecular mechanisms of flavonoids with different C-ring structures on Nε-(carboxyethyl)lysine (CEL) formation were revealed. The results demonstrated that Cat exhibited the best inhibitory effect on CEL with an inhibition rate of 53.78%, while Lute showed the lowest inhibition rate of 3.97%. The flavonoids (i.e., Tax, Que, Cat and Lute) inhibited the formation of non-fluorescent CEL, where hydroxylation at C3 on the C-ring favored the enhancement of the inhibitory effect of the flavonoids on CEL, while the C2-C3 double bond and the carbonyl group at the C4 position reduced their inhibitory ability. The alkaline environment favored the enhancement of the inhibition of CEL by Tax, Que, Cat and Lute. Notably, Tax, Que, Cat and Lute can inhibit CEL formation by competitively capturing MGO to form mono- or di-adducts and reducing lysine consumption. This study provides innovative strategies and a theoretical foundation for developing effective CEL inhibitors in food thermal processing. Full article
(This article belongs to the Section Physical Chemistry and Chemical Physics)
Show Figures

Figure 1

17 pages, 446 KiB  
Article
Identifying Base Erosion Through the Expenses Localness Indicators Model: A Methodology for Supporting Social Investment
by Georgia Parastatidou and Vassilios Chatzis
J. Risk Financial Manag. 2025, 18(6), 326; https://doi.org/10.3390/jrfm18060326 - 15 Jun 2025
Viewed by 422
Abstract
A company’s base, or physical location, is often a criterion or condition for inclusion in regional development programmes that offer investment incentives such as reduced taxes, subsidised loan rates, or funding for research and development projects. However, these programmes, aimed at strengthening communities [...] Read more.
A company’s base, or physical location, is often a criterion or condition for inclusion in regional development programmes that offer investment incentives such as reduced taxes, subsidised loan rates, or funding for research and development projects. However, these programmes, aimed at strengthening communities lagging behind in economic development, are often the target of malicious exploitation by companies that have a virtual headquarters in the region without actually contributing to local economies. This study proposes the use of the Expenses Localness Indicators (ELI) model as a reliable indicator of a company’s real contribution to a local economy. The ELI model can measure and highlight attempts to erode a company’s headquarters, and also assess a company’s integration into the local economy. By simulating a virtual economic environment and generating synthetic transaction data, the effectiveness of the ELI model in detecting false location claims and quantifying regional participation is evaluated. The results show that companies that prioritise local partnerships maintain higher locality scores, while those that partner with low locality entities weaken their local economic footprint, regardless of physical location. The ELI model provides a transparent and reliable tool that can be used both to grant regional incentives and to monitor their performance. Its integration into policy design can support more equitable, evidence-based approaches to regional economic development and social investment. Full article
(This article belongs to the Section Financial Markets)
Show Figures

Figure 1

19 pages, 960 KiB  
Article
The Effect of Attentional Manipulation on Cough Reflex Sensitivity in Individuals with Refractory Chronic Cough and Healthy Controls
by Jane R. Salois, Laurie J. Slovarp, Isabel Spinti, Jon Graham, Jethro Thorne, Amy Glaspey, Catherine Off and Marie Jetté
J. Clin. Med. 2025, 14(12), 4199; https://doi.org/10.3390/jcm14124199 - 12 Jun 2025
Viewed by 1060
Abstract
Background: Cough reflex sensitivity during cough challenge testing has been found to be modifiable with distraction in groups of healthy individuals. The purpose of this study was to examine this phenomenon in healthy controls and patients with refractory chronic cough (RCC) to advance [...] Read more.
Background: Cough reflex sensitivity during cough challenge testing has been found to be modifiable with distraction in groups of healthy individuals. The purpose of this study was to examine this phenomenon in healthy controls and patients with refractory chronic cough (RCC) to advance our understanding of the role attention plays in cough modulation and shed light on avenues for therapeutic advances for RCC. Methods: Thirteen adults with RCC (mean age = 60, 12 women) and twelve healthy controls (mean age = 60, 11 women) participated in this study. The participants completed cough challenge testing with nebulized capsaicin doses tailored to their individual cough reflex sensitivity under distraction and no-distraction conditions. The distraction condition consisted of cough challenge testing while completing a cognitive (visual memory) task on a tablet. Capsaicin doses included the dose that elicited two coughs (C2), and up to three doubling doses above C2. Capsaicin doses were administered in serial order with a placebo dose randomized into the order to control for an anticipation effect during each condition. For each dose administered, the participants were instructed to cough if they needed to. Cough frequency within 15 s and maximal urge-to-cough with each dose were recorded. The order of conditions (distraction or no distraction) was alternated, and all testing was completed within one session. Results: There were no meaningful differences in the dose–response rate parameters for cough frequency or urge-to-cough, respectively, when comparing the results from the RCC group in the condition without distraction to the condition with distraction (p = 0.647, 95% CI = −2.25, 1.15; p = 0.783, 95% CI = −1.94, 0.84), and to the healthy control group without distraction (p = 0.921, 95% CI = −2.11, 2.73, p = 0.887, 95% CI = −1.40, 0.80), and with distraction (p = 0.970, 95% CI = −2.16, 3.36), p = 0.808, 95% CI = −1.49, 0.89). Conclusions: Distraction with the cognitive task chosen in this study did not influence cough reflex sensitivity in either group, which is contrary to studies on healthy volunteers and anecdotal evidence reported by RCC patients. Attentional resources may not have been sufficiently taxed, or too few capsaicin doses were administered to capture an effect as there was high individual variability in cough frequency and urge-to-cough. Additional research is needed to tailor the difficulty of the cognitive task to each participant and incorporate a real-world distraction scenario that may better reveal how attentional manipulation could be harnessed to optimize the effectiveness of behavioral cough suppression therapy for patients with refractory chronic cough. Full article
(This article belongs to the Section Respiratory Medicine)
Show Figures

Figure 1

17 pages, 868 KiB  
Article
The Impact of Policy Incentives on the Purchase of Electric Vehicles by Consumers in China’s First-Tier Cities: Moderate-Mediate Analysis
by Pei Chen, Mohamad Hisyam Selamat and See-Nie Lee
Sustainability 2025, 17(12), 5319; https://doi.org/10.3390/su17125319 - 9 Jun 2025
Viewed by 988
Abstract
With the rapid development of China’s electric vehicle industry, the influence mechanism of government policies on consumers’ purchase intentions has become a research focus. This study integrates the technology acceptance model (TAM) and SOR theory to propose four key driving factors: policy incentive, [...] Read more.
With the rapid development of China’s electric vehicle industry, the influence mechanism of government policies on consumers’ purchase intentions has become a research focus. This study integrates the technology acceptance model (TAM) and SOR theory to propose four key driving factors: policy incentive, perceived usefulness, perceived ease of use, and test drive experience. Through stratified random sampling of 400 valid questionnaires in Shanghai, Beijing, Shenzhen, and Guangzhou, four cities with a high penetration rate of electric vehicles, the structural equation model (SEM) was used for empirical analysis. The results show that policy incentives have a significant impact on purchase intentions and play a mediating role through perceived usefulness and perceived ease of use; driving experience moderates the effects of perceived usefulness and perceived ease of use on purchase intentions. Based on the research results, this paper proposes a three-stage policy optimization path: strengthening the accuracy of fiscal and tax incentives in the short term, improving the visual construction of the charging network in the medium term, and establishing a network of test drive experience centers in the long term. The research conclusions provide a theoretical basis for the government to formulate differentiated electric vehicle promotion strategies and propose a “policy-technology-service” three-dimensional implementation plan for enterprises to optimize product design and improve user experience, so as to help the sustainable development of China’s electric vehicle market. Full article
Show Figures

Figure 1

23 pages, 1638 KiB  
Article
A Multi-Objective Optimization Approach for Generating Energy from Palm Oil Wastes
by Hendri Cahya Aprilianto and Hsin Rau
Energies 2025, 18(11), 2947; https://doi.org/10.3390/en18112947 - 3 Jun 2025
Viewed by 454
Abstract
Palm oil production generates substantial underutilized biomass wastes, including empty fruit bunches, fiber, palm kernel shells, and palm oil mill effluent (POME). Waste-to-energy systems offer a viable pathway to convert these residues into electricity and fertilizer, supporting circular economy goals and sustainability targets. [...] Read more.
Palm oil production generates substantial underutilized biomass wastes, including empty fruit bunches, fiber, palm kernel shells, and palm oil mill effluent (POME). Waste-to-energy systems offer a viable pathway to convert these residues into electricity and fertilizer, supporting circular economy goals and sustainability targets. This study takes an example of palm oil waste from the Indragiri Hulu region in Riau Province in Indonesia. It develops a multi-objective optimization framework to evaluate palm oil mill WtE systems from economic, environmental, and energy output. Three scenarios are analyzed: maximal profit (MP), maximal profit with carbon tax (MPCT), and all waste processing (AWP). The MP scenario favors high-return technologies such as gasification and incineration, leading to significant greenhouse gas emissions. The MPCT scenario favors lower-emission technologies like composting and excludes high-emission, low-profit options such as POME digestion. In contrast, the AWP scenario mandates the processing of all wastes, leading to the lowest profits and the highest emissions among all scenarios. The sensitivity analysis reveals that POME processing is not feasible when electricity prices are below the government-set rate, but becomes viable once prices exceed this threshold. These findings offer valuable insights for companies and policymakers seeking to develop and implement effective strategies for optimal waste utilization. Full article
(This article belongs to the Section A4: Bio-Energy)
Show Figures

Figure 1

12 pages, 645 KiB  
Article
Toward Sustainability: The Role of Tax Policies in Enhancing the Cost-Competitiveness of Electric Vehicles in Jordan
by Reema Al-Dalain, Otabeh Al-Oran, Jamil Hamadneh, Nabil Beithou and Mohammad Bani-Khalid
World Electr. Veh. J. 2025, 16(6), 301; https://doi.org/10.3390/wevj16060301 - 29 May 2025
Cited by 1 | Viewed by 931
Abstract
The total cost of ownership (TCO) of electric vehicles (EVs) is significantly influenced by several economic factors which play a critical role in shaping their cost competitiveness, including tax policies. The primary objective of this analysis is to evaluate whether (EVs) can be [...] Read more.
The total cost of ownership (TCO) of electric vehicles (EVs) is significantly influenced by several economic factors which play a critical role in shaping their cost competitiveness, including tax policies. The primary objective of this analysis is to evaluate whether (EVs) can be competitive with internal combustion engine vehicles (ICEVs) for everyday use over a multi-year period. Therefore, the TCO of passenger EVs was compared with that of ICEVs across three categories: affordable, mid-range, and luxury. This allowed us to show how tax laws affect EVs’ TCO and adoption rates. The analysis of the Jordanian regulatory structure showed that specific incentives, like lower sale taxes and customs duty applicable to EVs, successfully offset the higher initial costs of EVs, making them cost-competitive, especially in the affordable and mid-range categories. These results not only demonstrate the effectiveness of such policies in Jordan but also support national sustainability objectives by encouraging eco-friendly modes of transportation. The results provide a valuable framework for other developing countries, particularly in the Middle East, to accelerate EV adoption and transition toward cleaner mobility solutions. Full article
Show Figures

Figure 1

22 pages, 375 KiB  
Article
The Impact of Board Characteristics on Tax Avoidance: Do Industry Regulations Matter?
by Christos Pavlou, Antonios Persakis and George Kolias
J. Risk Financial Manag. 2025, 18(6), 287; https://doi.org/10.3390/jrfm18060287 - 22 May 2025
Viewed by 947
Abstract
This paper examines the effect of board characteristics on tax avoidance and the moderating role of industry regulation on this effect. Using a comprehensive panel of 84,153 firm-year observations from 39 countries during the period of 2000–2023, we illustrate that larger boards, higher [...] Read more.
This paper examines the effect of board characteristics on tax avoidance and the moderating role of industry regulation on this effect. Using a comprehensive panel of 84,153 firm-year observations from 39 countries during the period of 2000–2023, we illustrate that larger boards, higher female representation, significant foreign ownership, and the presence of independent directors are generally associated with higher effective tax rates, suggesting lower levels of tax avoidance. This study further demonstrates that the effects of board gender diversity and board independence are more pronounced in regulated industries, where stringent governance and ethical standards prevail, emphasizing the importance of regulatory oversight in mitigating aggressive tax planning. These findings are crucial for policymakers, regulators, and corporate governance practitioners aiming to align corporate practices with ethical standards and reduce the risks associated with tax avoidance. Full article
(This article belongs to the Special Issue Tax Avoidance and Earnings Management)
19 pages, 2703 KiB  
Article
An Interval Fuzzy Linear Optimization Approach to Address a Green Intermodal Routing Problem with Mixed Time Window Under Capacity and Carbon Tax Rate Uncertainty
by Yanli Guo, Yan Sun and Chen Zhang
Appl. Syst. Innov. 2025, 8(3), 68; https://doi.org/10.3390/asi8030068 - 19 May 2025
Viewed by 1084
Abstract
This study investigates a green intermodal routing problem considering carbon tax regulation and a mixed (combined soft and hard) time window to improve cost- and time-effectiveness and promote carbon emission reduction in intermodal transportation. To enhance the feasibility of problem optimization, we model [...] Read more.
This study investigates a green intermodal routing problem considering carbon tax regulation and a mixed (combined soft and hard) time window to improve cost- and time-effectiveness and promote carbon emission reduction in intermodal transportation. To enhance the feasibility of problem optimization, we model the uncertainty of both the carbon tax rate and the intermodal network capacity in the routing problem. By using interval fuzzy numbers to formulate the twofold uncertainty, an interval fuzzy linear optimization model is established to address the problem optimization, in which the optimization objective of the model is to minimize the total costs (consisting of transportation, time, and carbon emission costs). Furthermore, we conduct crisp processing of the proposed model to make the problem solvable, in which the optimization level, a parameter whose value is determined by the receiver before solving the problem, is introduced to represent the receiver’s attitude towards the reliability of transportation. We present a numerical experiment to verify the feasibility of the optimization model. The sensitivity analysis shows that the economics and environmental sustainability of the intermodal routing optimization conflict with its reliability. Improving the reliability of transportation increases both the total costs and the carbon emissions of the intermodal route. Furthermore, through comparison with deterministic modeling, the numerical experiment shows that modeling the twofold uncertainty can cover the different decision-making attitudes of the receiver, provide intermodal routes that are sensitive to the optimization level, enable flexible route decision-making, and avoid unreliable transportation. Through comparison with hard and soft time windows, the numerical experiment proves that the mixed time window is more applicable for problem optimization, since it can obtain the intermodal route that yields improved economics and environmental sustainability and simultaneously satisfies the receiver’s requirement for timeliness. Through comparison with the green intermodal route aiming at minimum carbon emissions, the numerical experiment indicates that carbon tax regulation under an interval fuzzy carbon tax rate is not feasible in all decision-making scenarios where the receivers have different attitudes regarding the reliability of transportation. When carbon tax regulation is infeasible, bi-objective optimization can provide Pareto solutions to balance the objectives of reduced costs and lowered carbon emissions. Finally, the numerical experiment reveals the influence of the release time of the transportation order at the origin and the stability of the interval fuzzy capacity on the routing optimization in the scenario in which the receiver prefers highly reliable transportation. Full article
Show Figures

Figure 1

23 pages, 1387 KiB  
Article
A Metaheuristic Framework for Cost-Effective Renewable Energy Planning: Integrating Green Bonds and Fiscal Incentives
by Juan D. Saldarriaga-Loaiza, Johnatan M. Rodríguez-Serna, Jesús M. López-Lezama, Nicolás Muñoz-Galeano and Sergio D. Saldarriaga-Zuluaga
Energies 2025, 18(10), 2483; https://doi.org/10.3390/en18102483 - 12 May 2025
Viewed by 433
Abstract
The integration of non-conventional renewable energy sources (NCRES) plays a critical role in achieving sustainable and decentralized power systems. However, accurately assessing the economic feasibility of NCRES projects requires methodologies that account for policy-driven incentives and financing mechanisms. To support the shift towards [...] Read more.
The integration of non-conventional renewable energy sources (NCRES) plays a critical role in achieving sustainable and decentralized power systems. However, accurately assessing the economic feasibility of NCRES projects requires methodologies that account for policy-driven incentives and financing mechanisms. To support the shift towards NCRES, evaluating their financial viability while considering public policies and funding options is important. This study presents an improved version of the Levelized Cost of Electricity (LCOE) that includes government incentives such as tax credits, accelerated depreciation, and green bonds. We apply a flexible investment model that helps to find the most cost-effective financing strategies for different renewable technologies. To do this, we use three optimization techniques to identify solutions that lower electricity generation costs: Teaching Learning, Harmony Search, and the Shuffled Frog Leaping Algorithm. The model is tested in a case study in Colombia covering battery storage, large- and small-scale solar power, and wind energy. Results show that combining smart financing with policy support can significantly lower electricity costs, especially for technologies with high upfront investments. We also explore how changes in interest rates affect the results. This framework can help policymakers and investors design more affordable and financially sound renewable energy projects. Full article
Show Figures

Figure 1

30 pages, 635 KiB  
Article
Tax Compliance Determinants in a Challenging Fiscal Environment: Evidence from a Greek Experiment
by Skoura V. Angeliki and Dasaklis K. Thomas
Int. J. Financial Stud. 2025, 13(2), 83; https://doi.org/10.3390/ijfs13020083 - 10 May 2025
Viewed by 892
Abstract
This study investigates the factors influencing tax compliance among Greek entrepreneurs functioning within a difficult fiscal landscape. Through a randomized field experiment, we analyze the effects of differing tax rates, audit likelihoods, and legal frameworks on compliance behavior. Utilizing regression analysis alongside robustness [...] Read more.
This study investigates the factors influencing tax compliance among Greek entrepreneurs functioning within a difficult fiscal landscape. Through a randomized field experiment, we analyze the effects of differing tax rates, audit likelihoods, and legal frameworks on compliance behavior. Utilizing regression analysis alongside robustness checks, our results indicate that greater transparency in audits and customized penalty systems markedly improve compliance rates. These findings highlight the critical role of cultural and regulatory elements in determining taxpayer conduct and provide valuable insights for policymakers in both national and international tax systems. This study contributes to the ongoing discourse surrounding tax evasion and compliance, positioning Greece as a potential reference point for comparable economies in the European Union. Full article
Show Figures

Figure 1

29 pages, 372 KiB  
Article
The Role of Tax Planning Incentives in the Use of Earnouts in Taxable Acquisitions
by Dennis Ahn and Terry Shevlin
J. Risk Financial Manag. 2025, 18(5), 253; https://doi.org/10.3390/jrfm18050253 - 7 May 2025
Viewed by 636
Abstract
In an acquisition, an earnout is a component of transaction price that is contingent upon future events. Despite its usefulness to acquirers in mitigating valuation risk, using an earnout also has a potentially undesirable tax consequence for the acquirer because there is no [...] Read more.
In an acquisition, an earnout is a component of transaction price that is contingent upon future events. Despite its usefulness to acquirers in mitigating valuation risk, using an earnout also has a potentially undesirable tax consequence for the acquirer because there is no immediate step-up in tax basis for the earnout portion of deal consideration until the resolution of associated contingencies. We thus hypothesize that acquiring firms with high marginal tax rates (MTRs) are less likely to use earnouts. We analyze a sample of taxable acquisitions by U.S. public companies, holding constant other non-tax determinants of earnout use from prior research, and we find results consistent with our prediction. We also find some evidence that strong tax incentives can offset the effect of target valuation uncertainty, suggesting that acquiring firms facing sufficiently high MTRs are willing to trade off mitigating valuation risk for a full, immediate step-up in tax basis. We contribute to the prior literature on determinants of earnout use as well as the role of tax planning incentives in firm choices within mergers and acquisitions. Full article
(This article belongs to the Special Issue Tax Avoidance and Earnings Management)
Back to TopTop