Search Results (166)

This study examines the effects of the International Maritime Organization’s (IMO) market-based measures, with a particular focus on the greenhouse gas (GHG) levy and on the financial and operational performance of Korean shipping companies. The analysis estimates that these companies, which play a vital role in global trade, consume approximately 9211 kilotons of fuel annually and emit 28.5 million tons of carbon dioxide. Under the lowest proposed carbon tax scenario, the financial burden on these companies is estimated at approximately KRW 1.07 trillion, resulting in an 8.8% reduction in net profit, a 2.4% decrease in return on equity (ROE), and a 1.1% decline in return on assets (ROA). Conversely, under the highest carbon tax scenario, costs rise to KRW 4.89 trillion, leading to a significant 40.2% decrease in net profit, thereby posing a serious threat to the financial stability and competitiveness of these firms. These findings underscore the urgent need for strategic policy interventions to mitigate the financial impact of carbon taxation while promoting both environmental sustainability and economic resilience in the maritime sector. Full article

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 N^ε-(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

Green development stands as an imperative pathway for China’s growth model. Enhancing green economic efficiency is crucial to maintaining sustainable development in the Yellow River Basin. The hierarchical governance structure of China’s economic development system inherently links competition among governments to potential impacts on the basin’s green economic efficiency, yet research in this area remains scarce. This study utilizes a panel data structured dataset containing both temporal and cross-sectional dimensions from nine provinces in the Yellow River Basin to investigate how tax competition among local governments affects green economic efficiency. The empirical results demonstrate that tax competition hinders green economic efficiency in the Yellow River Basin, exhibiting spatial heterogeneity in its inhibitory effect. Specifically, the inhibitory effect on the middle reaches is approximately twice as significant as that observed on the upper reaches, while the inhibitory effect on the lower reaches is found to be facilitative. In addition, the upgrading of industrial structure and industrial agglomeration triggered by tax competition partially alleviate the inhibitory effect on green economic efficiency. Therefore, policymakers can promote the sustainable development of the Yellow River Basin by optimizing the tax system, implementing regional differentiation strategies, optimizing industrial layout, and promoting the development of green clusters. Full article

This study evaluates the profitability and competitiveness of wheat and sunflower, strategic crops vital for food security, in Tekirdağ, Türkiye. Utilizing the Policy Analysis Matrix (PAM) and Stochastic Frontier Analysis (SFA), we analyze their profitability, competitiveness, and production efficiency under current agricultural policies. The findings reveal positive private profitability for wheat (354.86 USD/ha) and sunflower (240.82 USD/ha), with higher social profitability (431.78 USD/ha for wheat, 641.39 USD/ha for sunflower) indicating inherent efficiency. Policy analysis shows wheat benefits from a 7% price protection (NPCO 1.07), while sunflower is implicit taxed at 20% (NPCO 0.80). The SFA results indicate average technical efficiencies of 79.9% for wheat and 88.9% for sunflower, highlighting the potential for cost reduction through improved input use. In this study, the profitability rate at private prices was about 16% for both crops, while sunflower had a 35% rate at social prices. These findings highlight the need for holistic agricultural policies, including climate adaptation, efficient input use, and market competitiveness measures, to ensure the long-term sustainability of wheat and sunflower production in Tekirdağ and similar regions. Full article

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

The Hainan gibbon (Nomascus hainanus) is one of the most endangered primates globally, threatened by habitat destruction, genetic diversity loss, and ecological competition. In this study, given the critical role of the gut microbiota in host immune regulation and nutrient metabolism, we investigated the composition of and age-related variations in the gut microbiota in Hainan gibbons. Using 16S rRNA sequencing, we systematically investigated the gut microbial diversity of Hainan gibbons. We collected 41 fecal samples from Hainan Tropical Rainforest National Park, covering three age groups: juveniles (4–6 years), subadults (7–10 years), and elderly animals (≥13 years). This study found that microbiota composition changed significantly with age. Juveniles had higher microbial diversity and complexity, while subadults showed an increased abundance of Fibrobacter and Prevotella in their microbial communities, along with a Tax4Fun-predicted enrichment of functional genes related to energy metabolism, cell motility, and nervous system functions. LEfSe analysis identified statistically significant microbial taxa among different age groups, with Bacteroidota and Firmicutes being the dominant phyla across all groups with varying proportions. These results highlight the critical role of the gut microbiota in the health and adaptability of Hainan gibbons, offering insights for conservation strategies. The findings of this study are significant for understanding the changes in gut microbiota and their ecological functions across different life stages of endangered primates. Full article

The carbon tax is a crucial economic instrument for China; it aims to encourage the reduction of carbon emissions and provide additional revenue for the government in order to promote the transformation of society towards low-carbon and sustainable development. The suboptimal carbon tax refers to the carbon tax rate that achieves the best balance between emission reduction targets and economic benefits. Using China’s 2020 Non-competitive Input–Output Table, which encompasses 42 sectors, alongside carbon emission data sourced from the China Carbon Emission Accounts and Datasets (CEADs) covering 47 sectors, this study established a Carbon Tax-adjusted Input–Output Table of China’s Non-competitive Carbon Emissions 2020 (26 sectors) and constructed a multi-objective suboptimal carbon tax model based on an input–output price change model. Based on these, the suboptimal carbon tax rates under four different sets of constraints were simulated, including 49.2 CNY/ton (low inflation), 98.3 CNY/ton (low-to-medium inflation), 147.1 CNY/ton (medium-to-high inflation), and 195.5 CNY/ton (high inflation). We found that the suboptimal carbon tax should take into account its impact on prices, carbon reduction, and GDP, and higher carbon tax rates lead to more significant macroeconomic impacts and increased efforts in reducing emissions. Policy recommendations have also been put forward, such as launching a comprehensive research framework, establishing a synergistic and complementary mechanism between carbon taxation and carbon trading, designing a dynamic carbon tax, etc. Full article

Basic public service (BPS) serves as a crucial connection between governments and citizens, impacting the standard of living and well-being of the populace. Can High-Speed Rail (HSR) service incentivize local governments to improve the fiscal competition model of prioritizing production over public service to expand the supply of public services? This study empirically examines the impact of HSR service on the provision of BPS based on panel data from 282 cities in China during the period from 2008 to 2020. The findings indicate that improvements in HSR service significantly stimulate the provision of BPS, a result that withstands various robustness tests. An analysis of mechanisms reveals that HSR service enhances the provision of BPS by mitigating tax competition and fostering fiscal expenditure competition among local governments. Furthermore, this study demonstrates that the positive impact of HSR is more pronounced in cities characterized by high levels of fiscal decentralization and financial autonomy. In western regions and peripheral cities, HSR service has a more pronounced effect on BPS provision. Ultimately, this study offers valuable policy insights for governments to optimize fiscal expenditure structures and bolster social governance capabilities. Full article

This paper aims to test the hypothesis of the existence of significant tax competition between communes, which mainly concerns the share of value-added tax (VAT) proceeds, by exploring the system for allocating intergovernmental transfers in Morocco and analyzing the determinants of VAT transfers to local authorities. It contributes to fiscal federalism by assessing the design of the decentralized system and intergovernmental transfers. It aims to explore and understand the variables determining decentralization in Moroccan Municipalities over the period 2014–2018, based on institutional, budgetary, and political justifications, as well as their influence on local tax efficiency, highlighting the importance of intergovernmental transfers and their impacts on local government autonomy. We find that VAT revenue transfer antecedents include factors such as public expenditure, fiscal potential, tax effort, and political alignment. The results of this study can help better understand the relationship between VAT and economic variables and guide government tax policies in an emerging economy. This paper offers original perspectives on the importance of an informed vision for government decision-makers to develop effective tax policies considering stringent local budget constraints, the need for VAT revenue autonomy across levels of government, and the need for meeting the redistributive goals of the current VAT system. Full article

As the world accelerates efforts to combat climate change and transition toward a green, low-carbon economy, the new energy vehicle (NEV) industry has become a key driver of carbon reduction. Its ability to innovate efficiently is critical to long-term sustainable development. This study builds on the innovation value chain theory and introduces an evaluation framework that accounts for undesirable outputs such as energy consumption and pollutant emissions. Using a super-efficiency network SBM–Malmquist model and Tobit regression, we analyze the technological innovation efficiency of 272 A-share listed NEV enterprises in China from 2016 to 2023. Expanding beyond traditional overall assessments, we examine efficiency at different stages of the industry chain and find that: (a) overall technological innovation efficiency has declined, mainly due to weak pure technical efficiency, underscoring the need for better R&D management and resource allocation; (b) efficiency varies across the industry chain, with midstream firms performing better than those upstream and downstream, reflecting differences in technological accumulation and market conditions; (c) R&D tax deductions and market competition significantly boost innovation efficiency by creating pressure-driven incentives, while mismatched labor skills, the “welfare dependence” effect of tax incentives and financing constraints hinder progress. By introducing a two-stage innovation efficiency evaluation framework, this study not only pinpoints where efficiency losses occur along the industry chain but also provides empirical insights to guide targeted policy decisions, offering valuable implications for the sustainable growth of the global NEV industry. Full article

In 2021, the global electricity and heat sector recorded the highest increase in carbon dioxide (CO₂) emissions in comparison with the previous year, highlighting the ongoing challenges in reducing emissions within the sector. Therefore, combined heat and power (CHP) plants running on renewable fuels can play an important role in the energy transition by decarbonising a process, increasing the efficiency and capacity factor. Since 2003, Luxembourgish CHP plants have been transitioning from natural gas to biomass, mainly wood pellets. However, even though wood pellets are a renewable alternative, the market volatility in 2022 highlighted the vulnerability of a system reliant solely on one type of fuel. This study assesses the feasibility of using hydrogen to decarbonise a cogeneration plant powered by a natural gas-fuelled internal combustion engine. Although the technology to use hydrogen as a fuel for such systems already exists, a technical and economic analysis of implementing a hydrogen-ready plant is still lacking. Our results show that, from a technical perspective, retrofitting an existing power plant to operate with hydrogen is feasible, either by adapting or replacing the engine to accommodate hydrogen blends from 0 up to 100%. The costs of making the CHP plant hydrogen-ready vary depending on the scenario, ranging from a 20% increase for retrofitting to a 60% increase for engine replacement in the best-case scenarios. However, these values remain highly variable due to uncertainties associated with the ongoing technology development. From an economic standpoint, as of 2024, running the plant on hydrogen remains more expensive due to significant initial investments and higher fuel costs. Nevertheless, projections indicate that rising climate concerns, CO₂ taxes, geopolitical factors, and the development of the hydrogen framework in the region—through projects such as MosaHYc and HY4Link—could accelerate the competitiveness of hydrogen, making it a more viable alternative to fossil-based solutions in the near future. Full article

The optimization of taxation and profit maximization constitute two fundamental and interconnected problems, inherently entwined as firms navigate within a given tax framework. Nonetheless, existing literature commonly treats these problems separately, focusing either on optimal taxation or on profit maximization independently. This paper endeavors to unify these problems by formulating a bilevel model wherein the government assumes the role of a leader, and the profit-maximizing monopolist acts as a follower. The model assumes technology given by a constant elasticity of substitution (CES) production function, with market prices following a linear demand curve. Since the solution for a general case with an arbitrary degree of homogeneity cannot be determined explicitly, analytical expressions for the tax revenue function, profit function, optimal tax rates, and optimal input levels are derived for scenarios with degrees of homogeneity set to values 0.5 for decreasing and 1 for constant returns to scale. Several illustrative numerical examples are presented alongside corresponding graphical representations. The last example, with a degree of homogeneity set to value 2, shows that the optimal solution is achievable under monopolist assumption even with increasing returns to scale, a scenario impossible under perfect competition. The paper ends with discussions on sensitivity analysis of the change in the optimal solution with regard to the change in the producer’s price. Full article

Against the backdrop of global challenges to food security and China’s push to modernize its agriculture, it is critical to understand how government strategies affect innovation efficiency. This study examines how three modes of intergovernmental competition—fiscal spending competition (strategically increasing public spending to attract resources), tax competition (providing incentives to promote investment), and promotion competition (officials prioritizing short-term projects for promotion)—affect the efficiency of agricultural science and technology innovations across China’s provinces. Utilizing panel data (2000–2021) and a Slack-Based Measure Data Envelopment Analysis (DEA-SBM) model, we find that fiscal spending competition suppresses efficiency, particularly in western regions where infrastructure investments crowd out R&D. Tax competition enhances efficiency, yet its impact is attenuated in central China due to low industrial upgrading. Promotion competition impedes long-term innovation, as frequent official turnover prioritizes short-term projects. Regional heterogeneity highlights eastern China’s market-driven advantages versus central/western regions’ structural constraints. Policy implications advocate for spatially differentiated governance, including R&D tax rebates in the east and cross-regional innovation alliances. This study contributes to fiscal decentralization theory by revealing the nonlinear effects of competition modes on agricultural innovation. Full article

This paper reviews the existing studies employing total cost of ownership (TCO) analysis to evaluate the comparative economic viability of battery electric trucks (BETs) and diesel trucks (DTs). A key finding is that until recent years, BETs have not been cost-competitive with DTs. Light-duty trucks and medium-duty trucks started to become competitive in 2021 (1) according to some estimates, whereas heavy-duty trucks might remain to be not competitive even in future decades. However, (2) TCO estimates differ across continents. (3) The combing effect of fuel prices and taxes is most likely responsible for the fact that BETs enjoy a stronger competitive position relative to DTs in Europe, Asia, and Oceania, whereas, in North America, most estimates assign them poor competitiveness, both presently and in the coming years. (4) Most studies underline that significant cost disproportions persist in the heavy-duty truck segment due to its demanding operational requirements and a lack of robust high-powered charging infrastructure. Consequently, substantial financial incentives and subsidies will be required for heavy-duty trucks to enhance their economic viability, potentially accelerating cost parity from post-2035 to the near future. This paper identifies several constraints in its TCO analysis, including limited data on residual values, variability in discount rates, depreciation costs, and a lack of longitudinal and market data for BETs. Full article

The aim of this study was to analyze the strategic choices and profit variations of a monopolistic automobile manufacturer capable of producing both traditional fuel vehicles and new energy vehicles, with a particular focus on government interventions. Using a theoretical model, the research examined firm-level production decisions by incorporating consumer preferences and market competition under three policy scenarios: no government intervention, government subsidies, and tax policies. The key findings are as follows: (1) In the absence of government intervention, the firm’s production strategy is influenced by consumer preferences for new energy vehicles. Specifically, the firm prioritizes the production of new energy vehicles when consumer preference is high, fuel vehicles when preference is low, and both types when preference is moderate. (2) Government subsidies substantially reduce the production of fuel vehicles while promoting the production of new energy vehicles. However, excessively high subsidies may lead the firm to revert to fuel vehicle production. (3) Tax policies influence production strategies in a manner similar to subsidy policies. (4) When government intervention is weak and competition between fuel vehicles and new energy vehicles is intense, subsidy policies are more effective; however, when competition is less intense, tax policies may be more beneficial. Under strong government intervention, subsidy policies are found to be more effective. This research contributes to the literature by providing a theoretical foundation for government policymaking in the new energy vehicle sector, offering insights into firm-level production decisions under various policy environments. The originality of this study lies in its comparison of the effectiveness of subsidy and tax policies in promoting new energy vehicle production, which helps guide policymakers in designing optimal policy interventions. Full article