Guiding by the view of science-based development, the ecological tax system which also possesses the benefits of encouragement and financing capital should be gradually established, so the material benefits can stimulate and drive that the social pollution costs are translated into production costs and market price, and the policy and law objectives to control ecological pollution and improve e...

We show empirically a series of sharp patterns in stock market fluctuations, trading activity and their contemporaneous relationships. We link together and explain the following facts: (i) the cubic law of returns: returns follow a power law distribution with exponent 3. This “cubic” law seems to hold both across time and internationally. Stock market “crashes” (e.g. the 1929 and 1987 crashes) ...

While the purpose of financial accounting is the provision of useful information to those external, related groups who make decisions about a firm, the number of profits calculated in financial accounting is also utilized as the basis for the assessment of taxable income. In Japan, the accounting system under the Commercial Law (ASCL) is a typical financial accounting system. ASCL is closely co...

In this article, I argue that tax and transfer policies are more efficient than immigration restrictions as instruments for raising the after-tax incomes of the least skilled native workers. Policies to protect these native workers from immigrant competition in the labor market are no better at promoting distributive justice and are likely to impose a greater economic burden on natives in the c...

Expert systems research recently has focused on the importance of theory-based "first principles." The term first principles refers to un­ derstanding the structure and function of problem solving. To date, research in tax-based expert systems has focused on developing pro­ totypes of observed empirical relationships or models of the tax law. This paper focuses on applying first principles to e...

We use a change in Canadian tax law to examine how small private firms respond to the R&D tax credit. Our estimates imply an R&D user-cost elasticity above unity. Contract R&D expenditures are more elastic than the R&D wage bill. Firms that perform contract research or recently invested in R&D capital are more responsive to a change in the after-tax cost of R&D. We interpret the latter findings...