ABSTRACT
Many countries have been striving to equalize the balance between the central government and sub-government financial disparities without considering political interference. This paper aims to summarize the theory of local financial federalism and propose an unprecedented model for identifying the factors that affect local financial dependence. The proposed model is based on a theoretical framework incorporating five assumptions and is applied through panel regression analysis. Utilizing panel data from 2013 to 2022 in 21 provinces of Mongolia, a total of nine variables have been identified and econometrically tested within the proposed model. The findings from the panel regression analysis reveal that local budget investment, local personal income tax, local property tax, and other local taxes positively impact the reduction of local financial dependence. However, it is observed that an increase in local budget expenditures and GDP leads to an escalation in local financial dependence.
ABSTRACT
Background: Although socioeconomic support is recommended for frailty management, its association with the prognosis of frailty is unclear. Methods: Using data from participants aged ≥65 years in the Chinese Longitudinal Healthy Longevity Survey (2008-2018), the associations between socioeconomic support (source of income, medical insurance, community support, living status), onset of prefrailty/frailty, and worsening of prefrailty, were analyzed using multinominal logistic regression models. The associations between self-reported low quality of life (QoL) and reversion of prefrailty/frailty were analyzed using multivariate logistic regression models. Associations with mortality risk were analyzed using Cox proportional hazard regression models. Results: A total of 13,859 participants (mean age: 85.8 ± 11.1 years) containing 2056 centenarians were included. Financial dependence was a risk factor for low QoL among prefrail/frail individuals, but not among robust individuals. Having commercial or other insurance, and receiving social support from the community were protective factors for low QoL among prefrail/frail individuals and for the worsening of prefrailty. Continuing to work was a risk factor for low QoL, but a protective factor for worsening of prefrailty. A negative association between continuing to work and mortality existed in prefrail individuals aged <85 years and ≥85 years. Living alone was a risk factor for low QoL, but was not significantly associated with frailty prognosis. Conclusions: Prefrail and frail individuals were vulnerable to changes in socioeconomic support and more sensitive to it compared with robust individuals. Preferential policies regarding financial support, social support, and medical insurance should be developed for individuals with frailty.
ABSTRACT
(1) Background: The hospitality industry is known for exposing employees to work stress, which can lead to work-related burnout and high turnover rates. This study aims to examine the relationships between work stress, work-related burnout, and turnover intention. It also explores the mediating role of work-related burnout and the moderating role of job security and financial dependence. (2) Methods: A cross-sectional survey was conducted among 494 hotel employees working in five-star hotels in Belek and Manavgat, Türkiye, using a moderated mediation research model. The study found that work stress increases work-related burnout, which in turn increases turnover intention. Additionally, work-related burnout was found to mediate the relationship between work stress and turnover intention. Furthermore, it was found that perceived job security moderates the relationship between work stress levels and work-related burnout. Additionally, the variable of financial dependence was found to moderate the relationship between employees' levels of work-related burnout and their turnover intentions. Similarly, the study found that the financial dependence variable moderates the effect of work-related burnout on employees' turnover intention. Additionally, the study found that employees' perception of job security moderates the impact of work stress on work-related burnout. In conclusion, the study suggests that positive perceptions of job security can mitigate the impact of work stress on work-related burnout. Similarly, the impact of work-related burnout on turnover intention diminishes as the degree of financial dependence rises.
ABSTRACT
Using 3-digit industry data at the state-level during 2009-2018, the paper assesses the impact of the Insolvency and Bankruptcy Code (IBC) on growth across industries with varying degrees of financial dependence. The findings show that IBC positively impacted industry growth, although this occurred by altering the capital-labour mix in favour of the latter. Robustness tests across industry type and state labour regimes support these findings.
ABSTRACT
How do financial market conditions affect real economic performance? Empirical investigations of this question have often relied on measures of external financial dependence (EFD) that are constructed using US data and applied to other countries under the assumption of a stable industry ranking across countries. This paper exploits unique, comparable survey data from seven European countries to show that correlations of EFD across countries are weak, casting some doubt on this assumption. We then use the novel survey-based EFD index to show that the global financial crisis had a disproportionately negative impact on the real performance of financially dependent firms. Further investigations highlight the importance of supply chains in propagating the credit shock.
ABSTRACT
This study examines the frequency, nature, and effects of coerced debt, defined as non-consensual, credit-related transactions that occur in intimate relationships where one partner uses coercive control to dominate the other. The sample includes 1,823 women who called the National Domestic Violence Hotline. Results suggest that coerced debt, from both coercive and fraudulent transactions, is a common problem and is significantly related to control over financial information, credit damage, and financial dependence on the abuser. This study supports the need for policy reform and victim services aimed at addressing coerced debt, thereby mitigating a potentially significant economic barrier to safety.