In a new study, Jim Albertus at Carnegie Mellon University evaluated the impact of tax incentives on foreign-owned U.S. businesses’ income shifting, employment, and investment decisions. He found that foreign multinational firms engage in a modest degree of tax-motivated income shifting out of the United States. The results inform the potential effects of the “Revenge Tax” provisions of the June 2025 tax bill under consideration in the U.S. Congress.

Machiavellianism is associated with higher total pay and severance pay and higher pay for top managers. 

Abstract

Purpose – This study examines the convergence of energy diversification, financial development and per-capita income in OECD countries.

Design/methodology/approach – The research employs the club convergence test to assess convergence among OECD countries and uses Granger causality tests and panel regressions to identify the determinants of convergence, using data from 1997 to 2021.

Findings – The convergence tests showed no overall convergence but revealed convergence clubs for each factor. Granger causality tests indicated short-run bi-directional relationships between the variables. Long-run panel regression analysis confirmed that technological progress significantly improves per capita income and energy diversification. Additionally, it revealed bi-directional relationships between energy diversification and financial development, a uni-directional relationship from financial development to per capita income and a U-shaped effect of per capita income on energy diversification, with a turning point at $67,112.8 per year.

Practical implications – The findings suggest that within each convergence club, implementing microeconomic incentives for technology development and diffusion in energy, production, and financial services could help lagging countries catch up.

Originality/value – This study pioneers the testing of convergence in energy diversification, financial development and per capita income in OECD countries and identifies the determinants of this convergence.

The personal credit scores of top-level corporate executives can help explain their decision making in the corporate environment, at least when it involves evaluating risk, a new study suggests. Researchers conducted an experiment with a national sample of high-level executives and found that those with subprime credit scores tended to be “yes persons” – even when it was counterproductive.

The American Society for Radiation Oncology (ASTRO), the leading organization for physicians who treat patients using radiation therapy, recently welcomed Karen Davis as its first Vice President of Business Development and Marketing. “Karen’s proven record of building high-impact partnerships and mobilizing resources for mission-driven organizations will help ASTRO accelerate initiatives that improve care for patients with cancer worldwide,” said ASTRO CEO Vivek S. Kavadi, MD, MBA, FASTRO.