From theory alone the result is ambiguous as the decision is not solely made on the financial considerations and may include personal matters. The classic view has been that taxation lowers risk taking behaviour through its lowering of expected return rates. (Domar & Musgrave 1944) were the forerunners in the work on the effect of taxation on risk taking. Their view was that investors shared some of the risk with government which in some cases resulted in an increase in the holding of the risky assets. (Cullen & Gordon 2007) have similar results findings concluding that there is a positive relationship between income tax rates and risk taking.
It is an attempt for government to institutionalize analysis into the public budgeting process. However, it is not equal to a formal analysis. (p.95). “PPB does encourage the application of marginal utility analysis, cost-benefit studies, cost-effectiveness analysis, sensitivity analysis, pay-off matrix, present values, and other techniques in
Local government have different role with federal government. Federal government responsible to govern the country and making policy while local government is more into implement the policies and provide the services to the society. As an organization that provides the services to customers, the quality of service is really important in order to meet the customer’s expectation. Quality is defined as a dynamic state associated with products, services, people, processes, and environments that meets or exceeds expectations and helps produce superior value (Davis & Goetsch, 2010, p. 5). However, many of the local government functions are being performed by the third party.
It incorporates public sectors standardized strategies and initiatives to achieve its efficiency. It’s a mechanism that reorganizes public sector entities so as to bring accounting management and reporting closer to business techniques ((Dunleavy et al, 2005; Hood, 1995). Its main principles are decentralization, efficiency, accountability and transparency. Also, there are varied mechanisms adopted and implemented through these reforms by various nations. The emphasis is on strategies and accounting information.
As we know, the transparency is supposed to create the accountability. The increase in demand for a transparency and greater accountability in the use of public funds in Malaysia make the governments respond the demand by questioning on how the performance and the outcome be measured? Outcome means the result or output that the government should be achived by planning certain strategy of ongoing process and improving the performance. For example, the government manage a nurmber of reforms such as budgeting system reforms from Modified Budgeting System (MBS) to Outcome Based Budgeting (OBB) and increase productivity and efficiency in governmental operations. These reforms are used to transform public budgeting systems to focusing more on outputs
And I wonder how are other countries in Asia getting democratizing step by step. It will be more helpful to focus on the Asian country rather than Western country in this aspect, since Asian countries share some common cultures and suffer colonization or semi-colonization at some levels. Democratization in Myanmar Myanmar has been controlled under the military government since 1988. And in fact, the so-called Myanmar Socialism Regime which is from 1962 to 1988 is supported by the military force, so Myanmar can also be seemed as under one-party dictatorship during this period. In this sense, Myanmar is under a very special environment both in politic and economic aspect.
(Steers, et al., 2013). Other than western country who emphasize the truth and creative, Singapore Company is more emphasizing on virtue, hardworking and long term benefit. They always keep their options open and looking for a way which can better solve the problem. For example, company has goal to improve customer satisfaction. Instead of only concentrating on employee skill, company will also create better system as supporting.
ASEAN members have subsequently claimed that its founders had actually envisaged a regional grouping of ten countries ( Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam). ASEAN's founding statement, the Bangkok Declaration of 1967, left membership in the organization open to "all States in the South-East Asian region subscribing to the aims, principles, and purposes of ASEAN". But it did not provide a definite sense of where to draw boundaries of the region
As such, it is important that investors knows about the status of the country in order to contemplate and decide if they can lend money to it. A lot of credit rating agencies out there with same purpose and objective that is to determine the creditworthiness of a country. However, government makes it sure that transparency must be exposed to everyone as well as the results of credit ratings regarding the situation of the country. According to Singh and Mathur (n.d.) emphasized that nation's sovereign credit rating was a key indicator of its fiscal framework improvement, ability and capacity to reimburse its sovereign obligations. The most
Introduction Tax collection has been one of the primary instruments of the state in raising tax revenues needed to finance its spending; in carrying out its plans and objectives for economic growth and development, among other things. Revenues collected in taxes can be generated nationally or locally; with the implementation of the Local Government Code of 1991, the local fiscal administration has been able to exercise its power in creating measures for an effective income generation. The main challenge on the state and the government is how it will make the citizen follow its legitimate authority and make the people more involved in these activities. The use of promotion and encouragement rather than exercising the established penalties