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This study presents novel estimates of foreign holdings using a consolidated-by-nationality approach for a sample of 14 developed countries over multiple years. This approach provides an alternative for policymakers and researchers to analyse international exposure that complements the existing approach based on residence-based data. Two main advantages of the nationality-based approach are that it looks through corporate structures of multinational enterprises and considers local positions. The resulting novel data show that aggregate international financial integration is larger than residence-based data indicate for the sample. These data are used to analyse (i) profit-shifting activities and (ii) spillovers from United States monetary policy shocks. This study presents evidence suggesting that nationals of relatively high-tax countries may shift assets to low-tax countries in ways not fully captured in residence-based statistics. It also shows that a tightening in United States monetary policy is associated with a decline in foreign asset holdings by non-financial multinational enterprises using the consolidated-by-nationality approach. These findings underscore the relevance of using the consolidated-by-nationality approach to evaluate policy-relevant questions. Keywords : consolidated-by-nationality statistics, financial globalization, international financial integration, policy spillovers, residence-based statistics, tax differentials JEL classification codes : F21, F23, F36, F41, F42, 1. Introduction How can policymakers assess the exposure that a country's households and firms have to international risk factors? The conventional approach uses data on countries' foreign holdings. These data [...]

This study investigates the productivity gap between foreign-owned and domestic Arms in Viet Nam. Using quantile regression estimation for the period of 2011-2020, the study first examines the impact of Arms' specifics and of provincial governance quality on firms' total factor productivity at different points of the productivity distribution. The results show that labour productivity, market share and return on assets appear to significantly affect firm productivity regardless of firm groups or quantiles. To understand the productivity gap between foreign and domestic firms, the study uses the quantile decomposition approach to differentiate the factors that contribute to the gap at different quantiles. Our findings reveal that across quantiles most of the productivity gap is explained by firms' specifics, especially labour productivity. To address the productivity gap between foreign-owned and domestic firms in Viet Nam, policymakers should focus on enhancing domestic firms' access to technology, firms' experience and human capital development, as firm-specific factors appear to be major contributors to the productivity differential. In addition, improving provincial governance quality and creating an enabling environment for both foreign-owned and domestic firms can further stimulate productivity growth and foster healthy competition in the manufacturing sector. Keywords : domestic firms, foreign direct investment, quantile decomposition, total factor productivity gap, Viet Nam JEL classification codes : F63, L25, L60, O53, 1. Introduction Foreign direct investment (FDI) has played a pivotal and transformative role in shaping the economic landscape of Viet Nam throughout the past few decades. Viet Nam is known [...]

Good corporate governance practices are not universal. Unlike practices in institutional settings in developed countries, which have attracted most scholarly attention, corporate governance practices in emerging economies lean towards addressing principal-principal conflicts that stem from concentrated ownership. The study employs a difference-in-differences panel data design with matched samples of Chinese firms cross-listed in mainland China and Hong Kong (China) and of those listed only in Hong Kong (China) based on propensity score matching. It thus adopts a natural experimental setting--the promulgation of China's Revised Securities Law in March 2020 --to pinpoint whether and how legal revisions of investor protection laws can really benefit investors. The findings show that independent directors in cross-listed firms turn over significantly more than those in firms listed only in Hong Kong (China). Also, it suggests that firms mainly replace departed directors with new directors from similar demographics. Furthermore, the study observes no evidence of significant changes in board independence in the short run. The findings suggest that policymakers should mind unintended consequences beyond the intended outcomes of the legal reforms on corporate governance, particularly the potential disproportionate impacts on smaller firms. Keywords : China, corporate governance, cross-listed firms, emerging economy, independent director, legal reforms, principal-principal conflicts JEL classification codes : G34, G38, K22, K40, P26, P52, 1. Introduction One core theme of the corporate governance literature is the mechanisms that protect shareholder interests. Adopting the classic agency theory (Eisenhardt, 1989; Fama and Jensen, 1983; Jensen and [...]

Using recently published country-by-country reporting data released by the United States Internal Revenue Service, we assess United States multinationals' activity in the single market, aiming to contribute with data-based evidence to the ongoing political debate about the potential changes in the European corporate tax system. Our findings show evidence of artificial profit shifting across member States under the current method to allocate profits of multinational enterprises, with the Netherlands, Luxembourg and Ireland appearing to be the countries showing a higher degree of complicity with these activities. Such actions challenge fair international taxation in the European Union, distorting European internal competition and hampering tax revenue collection. Although it may not be (yet) the time for a worldwide unitary taxation approach, the analysis highlights the urgency for the European Union to adopt a formulary apportionment approach, overhauling a century-old set of global tax rules based on the separate entity approach. Keywords : country-by-country reporting, European Union, formulary apportionment, tax havens, United States multinationals enterprises JEL classification codes : D22, F23, F60, H25, H26, 1. Introduction This study adds to the growing research on the activity of multinational enterprises (MNEs) in the European single market (Garcia-Bernardo et al., 2021 and 2022). Starting from the [...]

In recent years, interest has been growing among policymakers in how to leverage special economic zone (SEZ) policies to support local entrepreneurship. With a few recent exceptions, the academic literature to date has been silent on the matter. This article aims to contribute to addressing this gap. First, it develops a conceptual framework linking SEZ policies and entrepreneurship development. Second, it explores the state of play of entrepreneurship promotion in SEZs in Africa using a survey of African SEZs and two case studies. We And significant appetite among African SEZs to promote local entrepreneurship; however, it is less clear how best to accomplish the task. Many of the policies, facilities and services offered are open to local entrepreneurs rather than being tailored specifically to their needs. The support required in some policy areas also seems to be more straightforward than in others. Adapting the SEZ offering to the needs of local entrepreneurs is one of the key challenges to increasing the effectiveness of the support. Keywords : special economic zones, entrepreneurship, developing countries, local economic development, knowledge spillovers, sourcing linkages JEL classification codes : L26, O31, O55, O25, R58, 1. Introduction Special economic zones (SEZs) are an ever-popular policy tool for promoting investment, generating employment and stimulating innovation. Policymakers put their hopes in them to overcome key developmental challenges [...]

March 2020 will forever be etched in our minds as the beginning of the most concerning health pandemic faced by all generations of the living population. Two-and-three quarter years on, we are starting to see signs for what the future might evolve into through structural change brought about by many events, and no more so than the burgeoning growth in working from home (WFH). WFH is no longer associated with negative stigma, and along with remote working more generally, has become recognised across most sectors of society as a way of work that has benefits for many and is to some extent here to stay. We draw on the research undertaken since March 2020 to summarise the evidence that we use to speculate on what are likely to be the big changes in the land transport sector that would not have been considered, at least to the same extent, pre-COVID-19. [ABSTRACT FROM AUTHOR]

This article examines the role of moral arguments in the delegitimation of transition policies. Previous research has highlighted attitudes and arguments that explain resistance against transition policies, including perceptions of unfairness; inefficiency and effectiveness; lack of trust; and ideology. This article provides further understanding of resistance to climate policies by zooming in on how social movements implicitly and explicitly use moral arguments to delegitimise low-carbon transition policies. Through a qualitative interview study with members of a Swedish social media movement against low-carbon transport policies, we analyse central arguments against policies; how moral considerations figure in them; and how these strengthen argumentative delegitimation practices against transition policies in the transport sector. We show how moral arguments serve to legitimise protests both by instilling an urgency in the cause and generalising the demands to delegitimise mainstream transition policies, and suggest that recognition of this may contribute to both better analysis and policies. [ABSTRACT FROM AUTHOR]

Local authorities have a strategic role in mitigating the environmental impacts of the transport sector. However, they struggle to integrate environmental issues into their decision-making processes, especially planning. In the European context of the Sustainable Urban Mobility Plan approach and Strategic Environmental Assessments (SEAs), this paper scrutinises three French localities to determine the current best practices and limitations for designing mobility plans and integrating environmental issues. Several limitations are identified: (1) limited expertise in defining and characterising actions and objectives, which complexifies plans' design, understanding, and monitoring; (2) a lack of a framework to conduct long-term quantitative environmental assessments and to use the results to influence decision effectively; and (3) monitoring processes are barely described in the documents, and the planning horizon where objectives are defined is not in sync with the indicators' mandatory evaluation period. This French case study thus reveals that European planning practices must be further analysed and improved to deal with the rising environmental concerns, e.g. through an operational framework to design mobility plans with effective integration of environmental issues. • Planning supports local authorities in moving towards a more sustainable mobility. • There is no robust approach to defining and characterising actions and objectives. • Robust long-term quantitative assessments are lacking to support planning. • Monitoring modalities are scarcely described in plans and SEAs. • Improving planning frameworks would help the integration of environmental issues. [ABSTRACT FROM AUTHOR]

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The decline of the power of organised labour, which is a central feature of neoliberalism, was compounded during the 'age of austerity'. Yet, the potentially disruptive agency of workers remains. This article presents a qualitative process-tracing exercise for over 150 prominent episodes of worker-led dissent in the period 2010–2019 in the UK, the results of which are also made available in a website accompanying the article: ' Contesting the UK's neoliberal model of capitalism: worker-led dissent (2010–2019). The article identifies seven configurations of causal conditions that proved sufficient for workers to successfully pursue their stated aims during this period. While 'standard' national disputes led by mainstream trade unions were on the whole not sufficient to achieve success during this period, nevertheless a number of alternative combinations of conditions did prove to be sufficient, especially locally-focused campaigns, those undertaken by grassroots 'indie' unions and those in the transport sector. [ABSTRACT FROM AUTHOR]

Energy and transport are the two largest contributors to carbon emissions. In recent years, the transport sector has made strides in reducing its carbon footprint by producing electric vehicles that emit zero carbon. This paper investigates the use of Fuel Cell Electric Vehicles (FCEVs) with a newly developed regenerative suspension module (RSM). The RSM uses an electromechanical mechanism to obtain regenerative electrical energy from the engine and is mounted to the passive suspension system. To determine the potential energy savings of the RSM module, a hydrogen fuel cell electric vehicle simulated under specific road geometries, speeds, and acceleration conditions. The simulation results indicate that the Regenerative Suspension Modules (RSM) mounted on each wheel of the FCEV generate 2.5 times more energy than the regenerative braking system. This result is evaluated as an increase in efficiency and range in electric vehicles. • This study aimed to investigate efficiency gains from adding an RSM to hydrogen fuel cell electric vehicles. • This is the first study in literature to integrate RSM into a Fuel Cell Electric Vehicle. • The charging efficiency of the FCEV is improved by the Regenerative Suspension Modules mounted on each wheel. • The FCEV's Regenerative Suspension Module mounted on each wheel generates 2.5 times more energy than regenerative braking. [ABSTRACT FROM AUTHOR]

This article offers insights into how leadership can be provided to advance the EU policy-making process through a case study of the policy-making for the new EU emissions trading system for buildings, road transport and additional sectors (ETS-2). Conceptually, it contributes to the literature on leadership in the EU by developing a three-part framework for observing leadership in EU policy-making, focussing on the intentions of an actor, the effects of the actions of an actor and the perceptions of other actors. The article also contributes to the literature on interactions between leaders in EU policy-making. Empirically, we provide a process tracing analysis of leadership in the policy-making process for the ETS-2. Using our framework, we examine five key leadership moments, showing how Denmark provided cognitive leadership, Germany provided exemplary and structural leadership, and the Commission and rotating Presidencies provided cognitive and entrepreneurial leadership. Our empirical analysis shows that various types of leadership were partially simultaneously and partially consecutively provided, with some leaders following up on the leadership strategies of others. We term this dynamic ‘sequential leadership’. Our finding confirms the importance of seeing leadership as a relationship, not just between leaders and followers, but also amongst leaders. [ABSTRACT FROM AUTHOR]

Hybrid electric vehicles are increasingly recognized as a promising solution for reducing carbon dioxide emissions in the transportation sector. The current study examines the nexus between innovation in hybrid electric vehicle‐related technologies and transportation sector‐based carbon dioxide emissions from 1990 to 2019 using a variety of econometric techniques such as the structural breaks unit root test, Maki cointegration test, fully modified ordinary least squares, and dynamic ordinary least squares. The results show that innovation in hybrid electric vehicle‐related technologies, renewable energy consumption, information and communication technologies, and international collaboration in technology development could help reduce transportation sector‐based carbon emissions levels. By contrast, the findings indicate that gross domestic product, trade openness, and financial development have a positive nexus with transportation sector‐based carbon emissions. Higher trade openness encourages economic expansion, and foreign trade may lead to more manufacturing, shipping, and transportation sector‐based carbon emissions. Similarly, when gross domestic product and financial development rise, the need for highly energy‐intensive items and services increases transportation sector‐based carbon emissions. To minimize Japan's transportation sector‐based carbon emissions, governments should emphasize innovation and adoption of hybrid electric vehicle‐related technologies, boost renewable energy consumption, and prohibit emissions‐intensive imports and exports. [ABSTRACT FROM AUTHOR]

Pipelines are an important transportation form in industry. However, pipeline corrosion, particularly that occurring internally, poses a significant threat to safe operations. To detect the internal corrosion of a pipeline, a method utilizing piezoelectric sensors alongside singular spectrum analysis is proposed. Two piezoelectric patches are affixed to the exterior surface of the pipeline, serving the roles of an actuator and a sensor, respectively. During the detection, the signals excited by the actuator are transmitted through the pipeline's wall and are received by PZT2 through different paths, and the corresponding piezoelectric sensor captures the signals. Then, the response signals are denoised by singular spectrum analysis, and the first several wave packets in the response signals are selected to establish a feature for pipeline corrosion detection. At last, the envelope area of the selected packets is calculated as a feature to detect corrosion. To validate the proposed method, corrosion monitoring experiments are performed. The experimental results indicate that the envelope area of the first several wave packets from the response signals, following singular spectrum analysis, can serve as a feature to assess the degree of pipeline corrosion, and the index has a monotonic relationship with the corrosion depth of the pipeline. This method provides an effective way for pipeline corrosion monitoring. [ABSTRACT FROM AUTHOR]

Rail transport has been the leading sector of the whole transport network. In order to improve the efficiency of its functioning, it is important to develop measures that may help reduce the maintenance cost. To improve the open wagon hatch door strength, it is proposed to make it with rectangular corrugations. The results of calculations show that, taking into account the proposed solution, the weight of the improved hatch door is almost 10% lower than the weight of a typical one. The strength of the hatch door under static loads was calculated. The results of calculations show that the strength of the hatch door under the diagrams considered is ensured. The study will contribute to the development of best practices for modern structures of railway vehicles and increase their cost-effective operation. [ABSTRACT FROM AUTHOR]

• Gamification is used for diverse purposes such as safety, eco-friendliness or health. • Game mechanics are various but reward points and leaderboards are the most used. • The rationale for the studies is often not supported by specific theoretical frameworks. • Empirical evidence of the effect of gamification is still lacking in the field of transport. Gamification is an emerging concept that is often used and cited for its known motivational and engagement qualities. Although gamification is studied and applied in a variety of fields, to our knowledge no overview exists in the field of transport and mobility. There is thus a need for a comprehensive understanding of the research conducted, the empirical evidence it yields and the type of research that could still be lacking. These findings could contribute to more effective and better-accepted transport interventions, whether they aim to improve safety, mobility or eco-friendliness. Our review provides an overview of the literature on gamification in relation to mobility and transport and offers suggestions for future research and interventions. A PRISMA-compliant systematic literature review was conducted on SCOPUS, Web of Science and Pubmed, resulting in 49 eligible papers. The results of the analysis of these papers indicated heterogeneity in multiple areas: objectives of the intervention (e.g., safe or eco-friendly driving), methodologies (i.e., different sample sizes, different experimental designs), types of experiments (e.g., questionnaires, simulation or fleet studies) and gamification processes (e.g., with leaderboards, rewards, narratives), but also and more importantly, in the observed empirical evidence. No consensus seems to have been reached on the effects of gamification nor on the underlying mechanisms in the field of transport. There is a lack of knowledge on the most effective ways to propose a gamified intervention in the field of mobility and transport, whether it aims to change behaviours or attitudes. Further research should rely more on specific theoretical frameworks to justify their approach and assess the effect of gamification more methodologically and empirically in order to build applicable and reliable knowledge. The acquired knowledge could increase road safety or help nudge people towards more eco-friendly modes of transport. [ABSTRACT FROM AUTHOR]

China has steadfastly pledged its dedication to accomplishing carbon peaking by 2030 and achieving carbon neutrality before 2060, a commitment widely recognized as the Dual Carbon Goal (DCG). The proposition of China's DCG presents formidable challenges for the advancement of the transport sector due to its significant contribution to carbon emissions. Consequently, new carbon abatement constraints have been enforced on carbon emissions within the Chinese transport sector. In pursuit of the carbon peaking goal, this research introduces the environmental context-dependent data envelopment analysis approach. The approach is employed to identify sustainable performance targets for the Chinese transport sector at the city level, while considering carbon abatement constraints. These sustainable performance targets not only provide insights on enhancing the environmental performance of these cities with minimum effort, but also offer a comprehensive pathway towards carbon peaking cities in the Chinese transport sector. • A pathway towards carbon peaking cities in the Chinese transport sector is examined. • An environmental context-dependent data envelopment analysis approach is proposed. • Policy implications for the Chinese transport sector are presented. [ABSTRACT FROM AUTHOR]

Every year, roughly 27% of all jobs in the truck transportation sector (NAICS 484) are reshuffled across motor carriers as existing carriers grow or shrink, new entrants begin operations, and existing firms exit. We take a first look at job gain and job loss dynamics in truck transportation, with a special emphasis on the roles of carrier age and job gain and loss dynamics in the manufacturing sector, the source for most trucking ton‐miles. In doing so, we draw on and extend theory in both supply chain management and economics. We test our predictions using archival administrative data covering 1995 through 2019 from the Census Bureau's Business Dynamics Statistics program that tracks the universe of truck transportation firms with employees. Results from fitting a series of mixed effects models provide strong evidence that job gain and job loss dynamics at trucking firms decline rapidly as carriers age. We further find these age‐related dynamics are moderated by employment dynamics in the manufacturing sector. Robustness testing shows job gains and losses dynamics in manufacturing are more predictive than the same dynamics in the distribution sector (wholesaling, retailing, and warehousing). We discuss implications of these findings for theory and practice. [ABSTRACT FROM AUTHOR]

Understanding the thermal runaway mechanism of lithium-ion batteries under low pressure and low temperature is paramount for their application and transportation in the aviation industry. This work investigated the coupling effects of ambient pressure (100 kPa, 70 kPa, 40 kPa) and ambient temperature (−15 °C, 0 °C, 25 °C) on thermal behaviors in an altitude temperature chamber. The experimental results indicate that lowering ambient pressure and temperature could attenuate the thermal runaway intensity, which is mainly attributable to the reduction in oxygen concentration and the increase in heat loss. Such a dual effect leads to the maximum temperature decreasing from 811.9 °C to 667.5 °C, and the maximum temperature rate declines up to 2.6 times. Correspondingly, the whole thermal runaway process is deferred, the total time increases from 370 s to 503 s, and the time interval, Δt, from safety venting gains by 32.3% as the ambient pressure and temperature decrease. This work delivers an in-depth understanding of the thermal characteristics under low pressure and low temperature and provides meritorious guidance for the safety of cell transportation in aviation. [ABSTRACT FROM AUTHOR]

The transportation industry (TRAI) is an important source of carbon emissions for China to achieve its peak carbon and carbon neutrality targets. This study analyzes the coupled integration of TRAI economic growth and carbon emissions in 30 Chinese provinces from 2005 to 2020 using a Tapio decoupling elasticity model and an environmental Kuznets curve (EKC) model. Then, a long-term energy alternative planning (LEAP) system model was constructed to predict and simulate the development of TRAI in China. The results of the study are as follows. (1) TRAI shows an inverted U-shaped decoupling in most provinces across the country, and most of the decoupling is usually more volatile in provinces with higher levels of economic development. In addition, COVID-19 positively contributes to the development of TRAI nationwide and in three regions. (2) The Tapio-EKC coupling curves of TRAI and eastern TRAI (ETRAI) nationwide have an inverted N-shape, and central TRAI (CTRAI) and western TRAI (WTRAI) have an inverted U-shape. Twenty-seven provinces crossed the decoupling elasticity inflection point nationwide, all provinces of ETRAI crossed the EKC inflection point, while all provinces of CTRAI and WTRAI did not cross the EKC inflection point; (3) The carbon reduction rates after scenario simulation ranged from 5.07 to 54.94%, with aircraft, ships, private vehicles, and their fuels (aviation kerosene, diesel, and gasoline) being the focus of energy saving and emission reduction. The coupled Tapio-EKC analysis model of this study is universal and can be extended to other provinces, cities, or industries. [ABSTRACT FROM AUTHOR]

The rapid increase of environmental impacts together global warming is conquered by substantial selection of electric-vehicles (EV's) over the internal-combustion engine (ICE) vehicles. The replacement of these vehicles in transportation industry has led to reducing the running cost, ecological emissions, vehicle maintenance. The EV's are operated by available battery energy and energized through utility-grid integrated EV charging stations. It is noted that, such charging stations may introduce power-quality issues, highly impacting the electric-grid due to presence of power electronic conversion devices in EV charging stations. The primary emphasis of power-quality impacts on electrical distribution grid are counteracted by employing active universal power-quality conditioner (AUPQC) device. The main role of AUPQC has been selected for mitigation of various PQ problems on both electric-grid side and charging station by using feasible control objective. In this work, a novel generalized voltagecurrent reference (GVCR) control objective has been proposed for extraction of fundamental reference voltage-current signals. The key findings are simple mathematical notations, no transformations, fast response, low dv/dt switch stress, low switching loss and maximum efficiency. The main goal is design, operation and performance of proposed GVCR controlled AUPQC device has been validated under integration of various EV chargers to electric-grid by using MATLAB/Simulink computing tool, simulation results are presented for analysis and interpretation. [ABSTRACT FROM AUTHOR]

Purpose: Companies are adopting innovative methods for responsiveness and efficiency in the public transport sector. The implementation of air-taxi services (ATS) in the transport sector is a move in this direction. Air taxis have a two-pronged advantage as they can reduce travel times by avoiding traffic congestion and have the potential to reduce carbon footprint compared to traditional modes of public transportation. Many companies worldwide are developing and testing ATS for practical applications. However, many factors may play a significant role in adopting ATS in the transport sector. This paper attempts to unearth such critical success factors (CSFs) and establish the interrelationships between these factors. Design/methodology/approach: Fifteen CSFs were identified by systematically reviewing the literature and taking experts' input. An integrated multi-criteria decision-making (MCDM) technique, Decision-Making Trial and Evaluation Laboratory-Analytic Network Process (DEMATEL-ANP [DANP]) was used to envisage the causal relationships between the identified CSF. Findings: The results reveal that Govt Regulations (GOR), Skilled Workforce (SKF) and Conductive Research Environment (CRE) are the most influential factors that impact the adoption of ATS in the transport sector. Practical implications: The research implications of these findings will help practitioners and policymakers effectively implement ATS in the public transportation sector. Originality/value: This is the first kind of study that identifies and explores the different CSFs for ATS implementation in public transportation. The CSFs are evaluated with the help of a framework built with inputs from logistics experts. The study recognizes the CSFs for ATS implementation and provides a foundation for future research and smooth adoption of ATS. [ABSTRACT FROM AUTHOR]