nep-acc New Economics Papers
on Accounting and Auditing
Issue of 2017‒07‒16
five papers chosen by

  1. Economic importance of the Belgian ports: Flemish maritime ports, Liège port complex and the port of Brussels - Report 2015 By Claude Mathys
  2. MPC Heterogeneity and Household Balance Sheets By Martin Holm; Gisle Natvik; Andreas Fagereng
  3. Balance del Banco Central de Chile, 1926 a 2015 By Pablo Filippi,; José Román; José Miguel Villena
  4. How do entrepreneurial portfolios respond to income taxation? By Fossen, Frank M.; Rees, Ray; Rostam-Afschar, Davud; Steiner, Viktor
  5. Емпиричен анализ на стиловете на учене на студенти от счетоводните специалности в Международно висше бизнес училище By Georgieva, Daniela

  1. By: Claude Mathys (NBB, Microeconomic Information department)
    Abstract: This paper is an annual publication issued by the Microeconomic Analysis service of the National Bank of Belgium. The Flemish maritime ports (Antwerp, Ghent, Ostend, Zeebrugge), the Autonomous Port of Liège and the port of Brussels play a major role in their respective regional economies and in the Belgian economy, not only in terms of industrial activity but also as intermodal centers facilitating the commodity flow. This update paper1 provides an extensive overview of the economic importance and development of the Flemish maritime ports, the Liège port complex and the port of Brussels for the period 2010 - 2015, with an emphasis on 2015. Focusing on the three major variables of value added, employment and investment, the report also provides some information based on the social balance sheet and an overview of the financial situation in these ports as a whole. These observations are linked to a more general context, along with a few cargo statistics. Annual accounts data from the Central Balance Sheet Office were used for the calculation of direct effects, the study of financial ratios and the analysis of the social balance sheet. The indirect effects of the activities concerned were estimated in terms of value added and employment, on the basis of data from the National Accounts Institute. As a result of the underlying calculation method the changes of indirect employment and indirect value added can differ from one another. The developments concerning economic activity in the six ports in 2014 - 2015 are summarized in the table on the next page. In 2015 the growth of maritime traffic in the Flemish maritime ports was due to developments in the port of Antwerp and the port of Ghent. Direct value added increased in all Flemish maritime ports in 2015. However, direct employment is continuing to decline. Investment was down everywhere except in the port of Zeebrugge. Cargo traffic in the Liège port complex declined in 2015, whereas it slightly slowed down in the port of Brussels. At the same time, direct value added in Liège shrank while it rose sharply in the port of Brussels. By contrast, direct employment was down in both ports. This report provides a comprehensive account of these issues, giving details for each economic sector, although the comments are confined to the main changes that occurred in 2015.
    Keywords: Flemish maritime ports, Liège port complex and the port of Brussels – Report 2015
    JEL: C67 H57 J21 L22 L91 L92 R15 R34 R41
    Date: 2017–06
  2. By: Martin Holm (BI Norwegian Business School); Gisle Natvik (BI Norwegian Business School); Andreas Fagereng (Statistics Norway)
    Abstract: Using Norwegian administrative data, we study how sizable lottery prizes affect household expenditure and savings. Expenditure responses (MPCs) spike in the year of winning, with a mean estimate of 0.35, and thereafter fall markedly. Controlling for all items on the household balance sheet and characteristics such as education and age, MPCs vary with the amount won and liquid assets only. Shock size matters: The MPC among the 25 percent winning least is twice as high as among the 25 percent winning most. Many households are wealthy, illiquid and have high MPCs, consistent with 2-asset models of consumer choice.
    Date: 2017
  3. By: Pablo Filippi,; José Román; José Miguel Villena
    Abstract: The Central Bank balance sheet, its framework and evolution through time, shows the implementation of monetary and exchange rate policies and its relationship with the fiscal policy, so the publication of its main accounting items is a contribution to the analysis of the economic history of a country. This paper presents the historical series of the main accounting items of Banco Central de Chile from its foundation and it also describes the methodology used. The goal of the publication of these series is to promote future research that permits deep analyses, the acquisition of knowledge and understanding of the evolution of the Chilean economy. Furthermore, a brief description of the most important stylized facts of monetary and exchange rate policies, which occurred during the history of the Bank, are made considering previous studies. The series are annual and correspond to Total assets, Total Liabilities and Equity of Banco Central de Chile and its main components. The assets are broken down in Net International Reserves and Loans to the Public Sector. The main Liabilities that are presented are Monetary Base and Bonds and Promissory Notes issued by the central bank. Additionally, annual series from the first Memoria of 1926 are made available in digital format.
    Date: 2017–06
  4. By: Fossen, Frank M.; Rees, Ray; Rostam-Afschar, Davud; Steiner, Viktor
    Abstract: We investigate how personal income taxes affect the portfolio share of personal wealth that entrepreneurs invest in their own business. In a reformulation of the standard portfolio choice model that allows for underreporting of private business income to tax authorities, we show that a fall in the tax rate may increase investment in risky entrepreneurial business equity at the intensive margin, but decrease entrepreneurial investment at the extensive margin. To test these hypotheses, we use household survey panel data for Germany eliciting the personal wealth composition in detail in 2002, 2007, and 2012. We analyze the effects of personal income taxes on the portfolio shares of six asset classes of private households, including private business equity. In a system of simultaneous demand equations in first differences, we identify the tax effects by an instrumental variables approach exploiting tax reforms during our observation period. To account for selection into entrepreneurship, we use changes in entry regulation into skilled trades. Estimation results are consistent with the predictions of our theoretical model. An important policy insight is that lower taxes drive out businesses that are viable only due to tax avoidance or evasion, but increase investment in private businesses that are also worthwhile in the absence of taxes.
    Keywords: taxation,entrepreneurship,portfolio choice,investment
    JEL: H24 H25 H26 L26 G11
    Date: 2017
  5. By: Georgieva, Daniela
    Abstract: The report presents data from a survey among students from undergraduate and graduate accounting majors in International business school. The aim of the study is to approbate David Kolb’s learning style inventory by the use of a questionnaire based survey. For the analyses of the data SPSS, ver. 16.0/2007 and Microsoft Office Excel 2013 are used. As a result from the study a conclusion about the predominant learning style among the target group is made.
    Keywords: learning style, accounting majors, David Kolb, learning efforts
    JEL: I20 I21 I23
    Date: 2017

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