Corporate Strategy Formulation and Taxation: Evidence from UK Firms*

This paper considers the relationship between corporate strategy formulation and taxation. Drawing on prior literature we briefly review the important influence that international taxation has on an array of corporate strategy decisions. We then consider issues in strategy formulation and taxation planning in order to develop an understanding of when and how taxation factors impinge on strategic decision‐making. We draw out the apparent paradox between the nature of strategic decision‐making and financial decision‐making and look for areas of reconciliation. In order to shed light on some of these issues we present findings from the qualitative analysis of a set of personal interviews undertaken with senior tax practitioners in seven UK‐based multinational enterprises and then consider quantitative responses from the tax practitioners working in 145 UK firms.     

A Response to Farrell

This article responds directly to an article published in this journal in February 2010 by Graham Farrell entitled ‘Situational crime prevention and its discontents: rational choice and harm reduction versus “cultural criminology” ’. (Farrell's article, in turn, was a rejoinder to my original 2007 article ‘Situational crime prevention and its discontents: rational choice theory versus the “culture of now” ’). In his article, Farrell sets out a case for the role of ‘harm reduction’ and rational choice theory as tools to reduce the contemporary crime problem, concluding that ‘Cultural criminology seems to offer little, if anything, useful to inform crime reduction efforts’. This article rejects this statement and offers a counter critique of the instrumental approach promoted by Farrell. Importantly, this response article is not intended as an outright critique of situational crime prevention per se, rather it is an assessment of Farrell's specific critical logic and the various shortcomings associated with his argument.     

At the nexus of risk and time preferences: An experimental investigation

Although many economic decisions involve choices between uncertain outcomes occurring at different times, most theoretical and empirical work restricts attention to one dimension or another. In this paper, we investigate whether both risk and time preferences can be represented by a single parameter. We collect experimental data to estimate models which allows for a disentanglement of risk and time preferences. Results reveal that the discounted expected utility model assumption, that risk and time preferences can be explained by a single parameter, is not supported by the data. The model estimates imply people prefer to delay the resolution of risky outcomes.     

True integer value time series

We construct an integer-valued stationary symmetric AR(1) process which can have either a positive or a negative lag-one autocorrelation. Nearly all integer-valued time series models are designed for observations which are non-negative integers or counts. They have innovations which are distributed on the non-negative integers and therefore obviously non-symmetric. We build our model using innovations that come from the difference of two independent identically distributed Poisson random variables. These innovations have a symmetric distribution, which has many advantages; in particular, they will allow us to model negative correlations. For our AR(1) process, we examine its basic properties and consider estimation via conditional least squares.     

Factors That Influence Willingness to Help the Homeless

Homelessness is an ongoing challenge for many families and individuals. Many struggle to meet their basic needs for food, clothing and shelter. Unfortunately, we know very little about the people who directly help homeless people meet these needs. The present study examines the relationships between empathy, religion, household income, political orientation, gender, race, and people's expressed willingness to assist the homeless. Results demonstrate a strong and consistent link between empathy and willingness to help. Moderately consistent associations are found for religion and race. Limitations, suggestions for further research, and for practical application are discussed.     

Who Cares Wins? Women,Caring and Disability

This article is an attempt to open up some of the unexplored issues in the 'carer's debate'. The interest in carers started receiving Government funding in the early 1970s as a response to community care policies. It also received interest from carers themselves and from feminist researchers concerned with the position of women in the family and the labour market. However, in wanting to show the difficult and often unrecognised work of the carer, the debate, in both academic and popular presentation, has often emphasised the public's perception of disabled people as passive, helpless and demanding. Feminist research on carers, it is argued, has ignored women who may need care and the principle of the 'personal is political' has failed to identify with the lives of disabled people. It is both unhelpful and unproductive to polarise the needs of disabled people and their carers and treat them as if they are mutually exclusive. We need research which does not alienate disabled people by defining concepts like rights, independence and power in ways which exclude, making disabled people the problem rather than the focus of the research. We need to move forward in the debate, making sure that we give a voice to all those involved in the giving and receiving of personal care. The concept of citizenship with its association with universal human rights may be a way to look concurrently at these needs.     

Nuclear hormone receptors, metabolism, and aging: what goes around comes around. Transcription factors link lipid metabolism and aging-related processes

Previous studies have linked the mysterious and inevitable process of aging to essential processes such as metabolism, maturation, and fecundity. Each of these processes is controlled to a large extent by nuclear hormone receptors (NHRs). NHRs also play important roles in the control of periodical processes, the most recently implicated being circadian rhythm. This Review stresses the mounting evidence for tight relationships between each of these NHR-regulated processes and the processes of aging.     

Relationship between balance and gait stability in healthy older adults

Age-related adaptations during walking create a more stable walking pattern, which is less effective for forward progression and might be related to balance deficiencies. This study determined the relationship between walking stability and measures of balance in older adults. Seventeen older and 20 young adults performed the Berg Balance Test (BBT) and walked 10 m. Walking velocity (WV) and cadence were measured, and a gait-stability ratio (GSR) was calculated. Higher GSR indicated that a greater portion of the gait cycle was spent in double-limb support. Age-group comparisons established declines in BBT scores and WV and increases in GSR with age. Significant relationships were identified for BBT Item 12 (alternate stepping on a stool) with WV (r =.58, r(2) =.34) and GSR (r = -.74, r(2) =.54). The correlation of BBT Item 12 with GSR was stronger than with WV (p <.05). Results indicated a strong relationship between increased gait stability and decreased balance for a dynamic weight-shifting task. Therefore, GSR is a better indicator of balance deficits during walking than is WV alone.