10 resultados para mesne profits
em Corvinus Research Archive - The institutional repository for the Corvinus University of Budapest
Resumo:
Grandfathering is currently the main principle for the initial allocation of tradable CO2 emission rights under the European cap-and-trade scheme. Furthermore, political feasibility often requires non-restrictive emission caps. Grandfathering under lax cap is unjust, biased and brings polluters unintended windfall profits. Still, in any post-Kyoto international CO2 regime, lax caps may be critical in coaxing binding emission targets out of more countries, especially those in the less-developed world. This paper argues that there is a certain quantity of emission rights between the initial and the optimal emissions, the grandfathering of which brings polluters zero windfall profits or zero windfall losses. Our theoretical concept of zero-windfall grandfathering can be used to demonstrate the windfall profits that have emerged at company level during the first EU trading period. It might thus encourage governments to embrace auctioning, and to combine it with grandfathering as a legitimate tool in the initial allocation of emission rights in later trading regimes.
Buyback and return policies for a book publishing firm = Egy knyvkiad vllalat visszavsrlsi stratgija
Resumo:
A dolgozat clja egy vllalati gyakorlatbl szrmaz eset elemzse. Egy knyvkiadt tekintnk. A kiad kapcsolatban van kis- s nagykereskedkkel, valamint a fogyasztk egy csoportjval is vannak kapcsolatai. A knyvkiadk projekt rendszerben mkdnek. A kiad azzal a problmval szembesl, hogy hogyan ossza el egy frissen kiadott s nyomtatott knyv pldnyszmait a kis- s nagykereskedk kztt, valamint mekkora pldnyszmot troljon maga a fogyasztk kzvetlen kielgtsre. A kiadrl felttelezzk, hogy visszavsrlsi szerzdse van a kereskedkkel. A knyv irnti kereslet nem ismert, de becslhet. A kis- s nagykereskedk maximalizljk a nyeresgket. = The aim of the paper is to analyze a practical real world problem. A publishing house is given. The publishing firm has contacts to a number of wholesaler / retailer enterprises and direct contact to customers to satisfy the market demand. The book publishers work in a project industry. The publisher faces with the problem how to allocate the stocks of a given, newly published book to the wholesaler and retailer, and to hold some copies to satisfy the customers direct from the publisher. The publisher has a buyback option. The distribution of the demand is unknown, but it can be estimated. The wholesaler / retailer maximize the profits. The problem can be modeled as a one-warehouse and N-retailer supply chain with not identical demand distribution. The model can be transformed in a game theory problem. It is assumed that the demand distribution follows a Poisson distribution.
Resumo:
The purpose of this article is to analyze the incentives of manufacturers to deal exclusively with retailers in bilaterally duopolistic industries with brand differentiation by manufacturers. With highly differentiated products exclusive contracts are shown to generate higher profits for manufacturers and retailers, who thus have an incentive to insist on exclusive contracting. However, if the products are close substitutes no exclusivity will emerge in equilibrium.
Resumo:
A kiskereskedelmi rrgzts vtizedek ta vitatott krds a kzgazdasgi elmletben. Az Egyeslt llamok legfelsbb brsgnak kzelmltbeli dntse - megszntetve az ilyen tpus rkorltozsok nmagban trvnytelennek tlst - ismtelten felhvta a figyelmet az adott problmakrre. Cikknkben az rrgzts eddig mellztt versenyfokoz hatsval foglalkozunk. A megszokott statikus modellek helyett dinamikus krnyezetet felttelezve, arra a kvetkeztetsre jutunk, hogy egy profitmaximalizl termelnek szmos esetben clszer kiskereskedelmi rrgztst alkalmazni egy esetlegesen kialakul forgalmazi kartell megelzsre, amelynek egyrtelmen pozitv hatsa van nemcsak a termel profitjra, hanem a kialakul fogyaszti tbbletre nzve is. Amellett rvelnk, hogy indokolatlan a mg mindig uralkod, a legtbb orszg versenyszablyozsban tetten rhet, nmagban trvnytelennek minstett megtls a vertiklis rkorltozsokkal kapcsolatban. / === / Retail price fixing has been a disputed issue in theoretical economics for decades, to which attention was drawn again by a recent decision by the US Supreme Court ending the illegality of such price restrictions as such. Assuming a dynamic environment instead of the customary static model leads to the conclusion that it is frequently advantageous to a profit-maximizing producer to use retail price maintenance to avert the possible appearance of a reseller cartel. This will have a clearly positive effect on producer profits, and also in terms of increasing consumption. It is also argued in the study that it is unjustified to qualify such vertical pricing restrictions as essentially illegal, after the manner of the competition rules in most countries.
Resumo:
The paper examines the role of EU cohesion policy in the field of human resources development and improving conditions for employment. The main objective of the analysis is to present a comprehensive picture about funding opportunities in connection with financing the activities of organisations of the social economy. As a background, the study stresses that the success of the European integration process depends to a great extent on the strength of economic and social cohesion between EU member states and regions. In order to create conditions for sustainable and balanced growth with social inclusion, there is a need to enhance the competitiveness of less developed regions combating the difficulties of structural change, and to improve their development prospects. To achieve this aim, one of the most important fields is to improve human resources. The paper points out, that EU cohesion policy has a crucial role in reducing disparities. After a general introduction to the EU level regional policy funding, the study focuses on the activities supported by the European Social Fund (ESF). The next part of the study deals with the possible types of the social economy projects and problems of self-financing. The author emphasises that social innovation emerges where State and markets fail to deliver for society (theory of non-profit/third sector) but not just to fix or replace them. The author concludes that these projects require state subsidies (official grants) at the beginning, but at the same time they can generate income. In this respect they follow same economic goals as other market actors, however, the crucial difference is that their main goal is not to make high profits for the owners. In the last part, as a concrete case study, the paper concentrates on the priorities of the Hungarian development plan in relation to social renewal. The author explains the priorities and fields of interventions of the social renewal programme. Finally, the chapter deals with the recent changes in the Hungarian employment policy and related measures supported by the European Social Fund. The chapter concludes that several employment programmes, projects for the development of social economy and programmes assisting the spreading of voluntariness and the training of volunteers have been launched with the co-financing of ESF.
Resumo:
A szerzk kzgazdasgi modellek ttekintse segtsgvel elemzik a rejtett gazdasgban val rszvtel tnyezit. Bemutatjk, hogy a haszonmaximl cselekvk a rejtett gazdasg egyes megjelensi formival kapcsolatos dntsk meghozatala sorn (pldul adcsals esetben) szmot vetnek a rejtett gazdasgban val rszvtel, illetve az attl val tartzkods kltsgeivel s hasznaival. A tanulmny az adcsals trsadalmilag optimlis szintjnek meghatrozsval foglalkozik a rejtett gazdasggal szembeni kormnyzati lpsek egyes tpusaival, ezek hatsaival s a rejtett gazdasggal szembeni optimlis kormnyzati politika lehetsgeivel. _______ The authors analyse the factors behind participation in the hidden economy, through a review of the models of economic theory. They show that those seeking to maximize profits weigh various forms of the hidden economy (tax evasion, for instance), in the search for the optimum solution, calculate the costs and benefits of participating in the hidden economy or refraining from doing so. Taking the socially optimum level of tax evasion, the study covers the various types of government measures that can be taken against the hidden economy, the effects of them, and the scope for an optimum government policy to combat the hidden economy.
Resumo:
The relationship of managerial bonuses and profit maximization is interesting both from an economic and a managerial viewpoint. Our contribution to this literature is showing that progressive managerial bonuses can increase profits in a spatial Bertrand competition, and furthermore they can help collusion.
Resumo:
A minimlbr-emels a munkapiacon kzvetlenl hat a keresletre s a knlatra. Kzvetett hatsai azonban tlmutatnak a munkapiacon, ezrt azokat egy makromodell keretei kztt elemezzk. A makromodellben hromfle munkafajta s tz gazat van; az egyes gazatok az rkpzskben s az ad- s jrulkelkerlsk szerkezetben klnbznek. A minimlbr-emels munkapiaci feszltsget generl: cskkenti a foglalkoztatst a szakkpzetlenek krben. Mivel az rszint az tlagbrnl gyorsabban n, s az aggreglt foglalkoztats is cskken, gy cskken a relfogyaszts. A vllalatok profitja s beruhzsa cskken, ugyanakkor a vllalati profit cskkense mr csekly mrtk adelkerls-nvelssel is kiegyenslyozhat. A minimlbr-emels hatsra nnek ugyan az adbevtelek, viszont a kiadsok nagyobb mrtkben nnek, gy ltalban romlik az egyenleg. Aki teht a minimlbr emelst kveteli, annak a felels dnts sorn szmolnia kell ezekkel a kvetkezmnyekkel. _____ Raising the minimum wage on the labour market has direct effects on supply and demand. But its indirect effects extend beyond the labour market. They are analysed here with a macro model that distinguishes three types of work and ten industries, whose firms differ in their price structures and the degrees to which tax and social-insurance payments are avoided. Raising the minimum wage generates tension on the labour market and reduces employment of the unskilled. Since the price level rises faster than average pay and aggregate employment falls, so does real consumption. The firms profits and investment decline, but the former can be offset even by a small increase in tax avoidance. Although the rise in the minimum wage boosts tax revenues, budgetary expenditures rise more and the balance deteriorates. Advocates of a higher minimum wage need to consider these consequences if they are to reach a responsible decision.
Resumo:
The purpose of this article is to analyze the incentives of manufacturers to deal exclusively with retailers in bilaterally duopolistic industries with brand differentiation by manufacturers. In contrast with the previous literature, exclusive contracts are shown to generate higher profits for manufacturers and retailers selling highly differentiated products, who thus have an incentive to insist on exclusive contracting. However, if the products are close substitutes no exclusivity will emerge in equilibrium. Furthermore, we show that exclusive contracts decrease both consumer and social welfare.
Resumo:
In the successful strategic management of the modern companies each function plays their specific role. While todays businesses in many ways are different from their ancestors, the key fundamentals are derived from the same roots. Their main purpose of existence is to serve the needs of their shareholders and stakeholders by creating value (Pike et al., 1993). To achieve this effectively and efficiently the various functions need to work in close cooperation with each other. The global crisis, starting in 2008, proved that volatility is higher for the financial markets and the ordinary businesses that have been anticipated before. As the recession started as a financial crisis many people started to blame amongst others banks and financial institutions for excessive risk taking and taking short profits ahead of long term sustainable growth. Accordingly the lost confidence in the financial institutions has taken a toll on the reputation of other Finance professionals such as accountants, book keepers, treasury, tax people and others. The finance functions strategic importance is linked to its ability to help interpreting the business performance and provide transparency. In order to restore the trust the finance profession is now facing one of the biggest challenges of its history, the need to reinvent itself. This paper presents the findings of a recent international research conducted in the United Kingdom, France, Hungary and Poland interviewing 169 executives of the business sector plus the review of 237 job descriptions of finance professionals in order to understand the challenges of the modern finance function. The findings of the study could provide relevant answers and help to overcome a very current problem that Finance is facing today, how to rebuild reputation and to stay a trusted partner and enabler for long term business strategy.
