How does globalization affect the tax burden on labour income, capital income and consumption in different welfare regimes? The case of Western and Eastern EU Member States

This article analyzes the effects of globalization on implicit tax rates (ITRs) on labor income, capital income, and consumption in the EU15 and Central and Eastern European New Member States (CEE NMS). We find supportive evidence for an increase in the ITR on labor income in the EU15, but no effect on the ITR on capital income. There is evidence of convergence in terms of the ITR on consumption, as countries with higher than average ITR on consumption respond to globalization by decreasing their tax rates. There are important differences among the welfare regimes within the EU15. Social-democratic countries have decreased the tax burden on capital, but increased that on labor due to globalization. Globalization exerts a pressure to increase taxes on labor income in the conservative and liberal regimes as well. Taxes on consumption decrease in response to globalization in the conservative and social-democratic regimes. In the CEE NMS, there is no effect of globalization on the ITR on labor and capital income, but we find a negative impact on the ITR on consumption in the CEE NMS with higher than average ITR on consumption. (JEL H23, H24, H25, F19, F21)

Do financial distress and liquidity crises affect value and size premiums?

This study investigates the impact of liquidity crises on the relationship between stock (value and size) premiums and default risk in the US market. It first examines whether financial distress can explain value and size premiums, and then, subsequently, aims to determine whether liquidity crises increase the risk of value and size premium investment strategies. The study employs a time-varying approach and a sample of US stock returns for the period between January 1982 and March 2011, a period which includes the current liquidity crisis, so as to examine the relationship between default risk, liquidity crises and value and size premiums. The findings indicate that the default premium has explanatory power for value and size and premiums, which affect firms with different characteristics. We also find that liquidity crises may actually increase the risks related to size and value premium strategies.

A randomized trial to assess the potential of different beverages to affect hydration status: development of a beverage hydration index

Background: The identification of beverages that promote longer- term fluid retention and maintenance of fluid balance is of real clinical and practical benefit in situations in which free access to fluids is limited or when frequent breaks for urination are not desirable. The postingestion diuretic response is likely to be influenced by several beverage characteristics, including the volume ingested, energy den- sity, electrolyte content, and the presence of diuretic agents. Objective: This study investigated the effects of 13 different com- monly consumed drinks on urine output and fluid balance when ingested in a euhydrated state, with a view to establishing a beverage hydration index (BHI), i.e., the volume of urine produced after drinking expressed relative to a standard treatment (still water) for each beverage. Design: Each subject (n = 72, euhydrated and fasted male subjects) ingested 1 L still water or 1 of 3 other commercially available beverages over a period of 30 min. Urine output was then collected for the subsequent 4 h. The BHI was corrected for the water content of drinks and was calculated as the amount of water retained at 2 h after ingestion relative to that observed after the ingestion of still water. Results: Total urine masses (mean 6 SD) over 4 h were smaller than the still-water control (1337 6 330 g) after an oral rehydration solution (ORS) (1038 6 333 g, P , 0.001), full-fat milk (1052 6 267 g, P , 0.001), and skimmed milk (1049 6 334 g, P , 0.001). Cumulative urine output at 4 h after ingestion of cola, diet cola, hot tea, iced tea, coffee, lager, orange juice, sparkling water, and a sports drink were not different from the response to water ingestion. The mean BHI at 2 h was 1.54 6 0.74 for the ORS, 1.50 6 0.58 for full- fat milk, and 1.58 6 0.60 for skimmed milk. Conclusions: BHI may be a useful measure to identify the short- term hydration potential of different beverages when ingested in a euhydrated state.

Not Belonging to one’s Self: Affect on Facebook’s Site Governance page

This article makes a contribution to a growing number of works that discuss affect and social media. I use Freudian affect theory to analyse user posts on the public Site Governance Facebook page. Freud’s work may help us to explore the affectivity within the user narratives and I suggest that they are expressions of alienation, dispossession and powerlessness that relate to the users’ relations with Facebook as well as to their internal and wider social relations. The article thus introduces a new angle on studies of negative user experiences that draws on psychoanalysis and critical theory.

Feeling the commute: Affect, affordance and communities in motion

This chapter draws upon research conducted in 2012-2013 in the English town of Glossop, Derbyshire, UK, exploring notions of affect, affordance and interconnections as part of a project within the UK’s Arts and Humanities Research Council’s (AHRC) Connected Communities programme: Revisiting the mid-point of British Communities: a study of affect, affordance and connectivity in Glossop. The project aimed to explore how an affectual analysis of place, space and mobility reveal a deeper understanding of how non-familial residents of Glossop connect/ disconnect with each other. This chapter will specifically focus on experiences of Glossop train station, illustrating research data gathered during the train commute from Glossop to Manchester, as well as the affordances of the train station itself. Highlighting contemporary residential migration patterns, practices of commuting and everyday mobilities, this focus asks how people’s senses and feelings of community are constituted in relation to these mobilities and the affordances of particular spaces. The findings of this chapter further reveal that amalgamating a study of affect and atmospheres within social and cultural contexts can impact on the design of mobility, transport and spaces which are designed to facilitate community (dis)connection.

Media amplification of brand crisis and its affect on brand trust

This paper explores the ways in which consumers’ brand trust during a brand crisis is affected through direct experience versus when it is amplified through mass media. By using case-study methodology, our findings reveal that generalised public images of a product crisis initiate a public perception of risk, which provides more negative effects on brand trust than the actual consumers’ experience does. We introduce the media as a third partner influencing the trust relationship between consumers and brands, and offer suggestions for restoring and preserving customers’ brand trust.