Value Creation and Income Taxation: A Coherent Framework for Reform?

in Haslehner, Werner; Lamensch, Marie (Eds.) Taxation and Value Creation (2021)

Digitalization of the global economy has forced a rethink of the allocation of taxing rights along the lines of “value creation”. The current international tax system relies on a vast network of double ... [more ▼]

Digitalization of the global economy has forced a rethink of the allocation of taxing rights along the lines of “value creation”. The current international tax system relies on a vast network of double taxation conventions (DTCs) intended to allocate taxing rights between states and avoid double taxation. However, the system’s logic is rooted in the early 20th century and not fit- ting the modern global economy – particularly in so far as it presupposes a threshold physical presence in form of a “permanent establishment” (PE) to permit taxation in the state of source. Today, the traditional thresholds for giving taxing rights to “states of source” hardly reflect the reality of business activity that strongly relies on intangible assets and the provision of remote services, which are not easy to pin down at any particular place. Calls for fundamental changes crystalized in the OECD and G20 initiated BEPS Project launched in 2013 to reform the international tax system with one overall objective: To “ensure that profits are taxed where economic activities take place and value is created.” Yet despite virtual unanimity on that objective, and great number of measures already taken purportedly contributing to it, there is no clarity on its actual meaning. This contribution seeks to shed light on a potential meaning of "value creation" as it relates to (international) income taxation, employing a cross-disciplinary perspective. [less ▲]

The Value of Coordination in Multimarket Bidding of Grid Energy Storage

in Operations Research (2021)

The value of education among immigrants and non-immigrants and how this translates into educational aspirations: a comparison of four European countries

in Journal of Ethnic and Migration Studies (2019), 45(5), 711-734

Starting out from the frequent empirical finding that immigrants exhibit higher educational aspirations than non-immigrants, we analyse the role of immigrants’ value of education, i.e. the subjective ... [more ▼]

Starting out from the frequent empirical finding that immigrants exhibit higher educational aspirations than non-immigrants, we analyse the role of immigrants’ value of education, i.e. the subjective belief that education is beneficial for one’s life, in idealistic and realistic educational aspirations in four distinct institutional settings, comparing Sweden, Germany, the Netherlands and England. While the first part of the analyses relates to how immigrants differ from non-immigrants in the value they assign to education, the second part centres on country differences considering immigrant integration policies and education systems as crucial factors. A third part relates to the links between the value of education and educational aspirations to gain some insight into how the value of education may contribute to educational decisions. Analyses are based on longitudinal data of the Children of Immigrants Longitudinal Survey in Four European Countries (CILS4EU). While results show that immigrants assign a higher value to education, the value of education does play a minor role in idealistic and realistic educational aspirations. The results of the country comparison are rather ambivalent, including very weak support for the argument that immigrants strive for education to a higher extent in countries with less favourable conditions. [less ▲]

The value of installed base information for spare part inventory control

in International Journal of Production Economics (2021)

This paper analyzes the value of different sources of installed base information for spare part demand forecasting and inventory control. The installed base is defined as the set of products (or machines ... [more ▼]

This paper analyzes the value of different sources of installed base information for spare part demand forecasting and inventory control. The installed base is defined as the set of products (or machines) in use where the part is installed. Information on the number of products still in use, the age of the products, the age of their parts, as well as the part reliability may indicate when a part will fail and trigger a demand for a new spare part. The current literature is unclear which of this installed base information adds most value – and should thus be collected – for inventory control purposes. For this reason, we evaluate the inventory performance of eight methods that include different sets of installed base information in their demand forecasts. Using a comparative simulation study we identify that knowing the size of the active installed base is most valuable, especially when the installed base changes over time. We also find that when a failure-based prediction model is used, it is important to work with the part age itself, rather than the machine age. When one is not able to collect information on the part age, a logistic regression on the machine age might be a valuable alternative to a failure-based prediction model. Our findings may support the prioritization of data collection for spare part demand forecasting and inventory control. [less ▲]

The value of librarians for clinical and health governance (a view from Europe)

in International Journal of Health Governance (2019), 24(1), 66--88

Purpose Governance of healthcare organisations and health systems requires many different competencies, with a great emphasis on evidence and information governance, which are traditional fields of...

The value of the liminal position

in Dost-Gözkan, Ayfer; Sonmez Keith, Doga (Eds.) Norms, groups, conflict and social change: Rediscovering Muzafer Sherif’s psychology (2015)

The value relevance of SAM’s corporate sustainability ranking and GRI sustainability reportingin the European stock markets

in Business Ethics : A European Review (2016), 25(1), 1-24

This paper investigates whether relative corporate sustainability as measured by the SAM sustainability ranking and sustainability reporting in terms of Global Reporting Initiative (GRI) application ... [more ▼]

This paper investigates whether relative corporate sustainability as measured by the SAM sustainability ranking and sustainability reporting in terms of Global Reporting Initiative (GRI) application levels are associated with a higher market valuation. We conduct a value relevance study for the 600 largest European companies with the Feltham and Ohlson valuation model as a reference point. Our results indicate that for the observation period 2001 to 2011, the association between corporate sustainability and market value is positive. The empirical evidence of a positive relationship between GRI reporting and market value is statistically significant in some but not all of the model specifications. We find no evidence of interaction between the value relevance of corporate sustainability and sustainability reporting, nor do we find any positive effect of external assurance on the capital market perception of GRI application levels. Our results support the notion that conducting business in accordance with ethical norms is also a shareholder valueincreasing business strategy. However, it is not possible to verify the information given in sustainability reports through external assurance. [less ▲]

Value Stream Management in the "Lean Manufacturing Laboratory"

in Procedia CIRP (2015, July), 32

The University of Luxembourg has recently launched its learning factory, the “Lean Manufacturing Laboratory”. With the help of this manual assembly line, students gain valuable insights in the operation ... [more ▼]

The University of Luxembourg has recently launched its learning factory, the “Lean Manufacturing Laboratory”. With the help of this manual assembly line, students gain valuable insights in the operation of a manufacturing line as well as in buffer, waste and congestion management. Currently, one of the main research topics at the University of Luxembourg in the field of Lean Management is the further development of the method Value Stream Management (VSM). The application of VSM in the “Lean Manufacturing Laboratory” with a projected focus on industry and service sectors reveals the need for a standardized VSM approach. Thus, one of the research objectives is the development of a common VSM method accompanied by standardized software and process interfaces to ensure robust product and information flows within a company and also throughout supply chains. On the way towards a VSM method as standard, existing VSM approaches have to be investigated and validated. By a detailed comparison of existing VSM approaches, all necessary fields of action for the development of a standardized Value Stream Management approach are shown. [less ▲]

Value Stream Management Training

Learning material (2016)

The VSM workshop deals with concepts in the area of Value Stream Management, comprising the analysis, design and optimization of internal material and information flows. The VSM workshop was held by Prof ... [more ▼]

The VSM workshop deals with concepts in the area of Value Stream Management, comprising the analysis, design and optimization of internal material and information flows. The VSM workshop was held by Prof. Dr.-Ing. Peter Plapper and M.Sc. Christof Oberhausen, who contribute a profound knowledge in Value Stream Management based on their ongoing research in this field. The one-day VSM workshop is targeted at an audience of 8-12 participants with a background in Lean Engineering or Operational Excellence. [less ▲]

Value Stream Mapping (VSM) to Evaluate and Visualize Interrelated Process-Chains Regarding Circular Economy

in Advances in Production Management Systems. Artificial Intelligence for Sustainable and Resilient Production Systems (2021, August 31), 633

The concept of circular economy (CE) aims to close and slow resource loops without neglecting the goals of sustainable development. Recently, the concept received encouraging attention among researchers ... [more ▼]

The concept of circular economy (CE) aims to close and slow resource loops without neglecting the goals of sustainable development. Recently, the concept received encouraging attention among researchers and business experts to be a convenient solution to move away from the finite linear economy concept to a more sustainable solution. However, this change of paradigm is only possible if we consider systems in a holistic manner and can localize the preventing hurdles. Value stream mapping (VSM) is a commonly known lean method, used to develop current state visualization of product and information flows within organization, helping to seek weaknesses and improve process flows. The motivation of this paper is a new C-VSM model, which enables its users to evaluate and visualize connected process-chains regarding CE on different levels in a holistic manner. For this purpose, the traditional VSM model was adapted towards the needs and requirements of CE through the application of a new representation method, additional indicators, and an appropriated evaluation system. C-VSM is in line with the current political and industrial objectives to apply CE principles by enabling a holistic reflection and consideration of supply-chains (SCs) on different levels. The model itself is validated through an extensive cross-company case study. [less ▲]