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Recent literature on firm-level heterogeneity and trade has emphasized a self-selection mechanism: only the most productive firms can recover the transaction (sunk) costs for serving foreign markets and become exporters. The role of trade integration is that a productivity gap between exporters and nonexporters becomes lower when the market becomes more integrated due to a fall in trade costs. The focus of this chapter is the role of EU harmonization of food regulations in explaining the intra-EU export-productivity premium. The food industry is an interesting case to examine because many directives and regulations of the Single Market Program concern this important economic sector and have the potential to affect trade and productivity. We use data on Dutch food processing firms for the 1979–2005 period, which we link with a dataset that codes food products subject to EU harmonization. The chapter confirms that more productive firms are more likely to enter the EU export market. The result of EU harmonization is that this probability increases. Second, we find a positive and significant export-productivity premium: that is, firms that export to other EU markets are more productive than nonexporting firms. This finding is robust to the estimation technique and the way we measured TFP growth. Third, when we test whether the export-productivity premium is affected by EU harmonization, we find weak evidence that is the case for Dutch food processing firms: much depends on the estimation method, the way we measure TFP growth, and the population of exporting firms.

The purpose of this paper is to approach, both theoretically and empirically, public sector reporting at European Union (EU) level. It contributes to the accounting harmonisation literature by revealing the actual status of governmental reporting at the national level.

The paper carried out an exploratory data analysis of the harmonisation of statistical, budgetary and financial reporting at the EU level. A mapping visualisation offers a comprehensive overview of the current state of connections between these reporting systems.

The results reveal the complexity of governments’ reporting systems homogeneity, although all stakeholders recognise the struggle for the principles of performance and transparency in the public sector. Thus, these are following the EU Commission’s study, which concludes that there is significant heterogeneity in the accounting and reporting practices applied transversely throughout all Member States.

The relevance of the study is comprehensive, from the economic environment to the practitioners, from the international regulatory bodies to the national ones, all can assess and quantify the significance of the past, present and future changes, considering their needs. The limitations of the research regard the documentation background because uniformly accessing some information presented by the EU Member States is relatively tricky. Future research might focus on the effects of these changes as they occur.

The study contributes to the scientific literature in the public sector through a comprehensive, well-supported and statistically grounded analysis performed at EU level, able to provide reliable results and to support valuable future recommendations towards harmonised reporting. Moreover, it supports and encourages all national and international efforts for improving the comparability of financial, budgetary and aggregated statistical reports.

The correct functioning of the European Union Single Market requires the elimination of discriminatory or protective internal taxation of goods. This paper aims to provide an overview of developments in indirect tax harmonization within the European Union (EU).

The approach is to provide a history of tax harmonization and a description of the present functioning of the system within the EU.

The paper illustrates that through partial harmonization of indirect taxes (value‐added tax and excise duties) the EU has reached a considerable degree of fiscal neutrality. The attitudes of Member States suggest that closer harmonization (or even unification) of tax rates may not be considered.

The paper provides a summary of the progress of tax harmonization in the EU.

Insurance in Malta has been very largely influenced by English practice and law. The influence of the English market insurance practice and law not only shaped the Maltese market but practically that of all common law jurisdictions in former members of the British empire. Since the London insurance market continues to be a very dominant force globally until today, the connection has undoubtedly served Malta well.

The origins of UK insurance principles of utmost good faith and insurable interest under contract law, date back to times which were very different from today and the need to revise the laws has now been felt in the UK as well as in other jurisdictions which were influenced by its law and practice. In Malta, minimal legislative intervention and the Maltese courts were and continue to be mostly guided by English case law, some of which has now been superseded by the updated statute law which was recently introduced in the UK by virtue of the Consumer Insurance (Disclosure and Representations) Act (2012) and Insurance Act (2015).

We herein lay out a case study of the development of utmost good faith and insurable interest in insurance contracts within the Maltese legal context, based on empirical literature findings and semi-structured interviews together with several legal experts who are specialized in the field and experienced insurance professionals.

To provide an evaluation of an EU spectrum policy proposal aimed at furthering the goals of the i2010 Information Society initiative.

This paper revisits the methodology premised on neoclassical principles devised by Ronald Coase. An evaluation of EU spectrum reform based on the work of J.R. Commons is proposed.

The approach by Coase fails to take into account the need for institutional reform of the spectrum management process. The approach of J.R. Commons identifies areas that will have to be addressed if the proposals for EU spectrum reform are to be met.

The methodology advanced by J.R. Commons provides a more complete account of interdependent variables associated with spectrum management and is likely to lead to workable solutions to this complex policy problem. However, it is less theoretically coherent than Coase's model.

Recommendations for reform and problem areas are suggested that consider both market and extra‐market valuation of the spectrum resource.

This paper addresses this issue and provides an alternative model based on institutional economic analysis using the methodology given by J.R. Commons.

The purpose of this paper is, first, to discuss if the Portuguese corporate tax reform, implemented in 2014, moved the system towards international trends. Second is to analyse in what areas the similarities and disparities are more pronounced when assessing the Portuguese reform against the Common Consolidated Corporate Tax Base, the Mirrlees Review or other relevant international guidelines. Finally, it assesses how a European country under a bailout could significantly reform the corporate tax.

The methodology employed is based on a mix of the legal research method and case study analysis. The legal method will be applied under comparative income taxation, and the case study will draw on the Portuguese reform to broaden the discussion about critical issues like the participation exemption regime and its place in the taxation of international income flows. The paper will analyse core issues in international income taxation, the present state of corporate tax harmonization in the European Union, discuss the main issues that were dealt by the Portuguese tax reform and offer a critical assessment of tax policy choices that underpinned the reform.

During the past decades, Portugal was increasingly out of line with international trends in corporate taxation. The bailout asked for the Portuguese Government in 2011 placed a heavy burden in public finances, with an apparent lack of room to follow international trends of corporate tax reform. However, it can be concluded that, after convincing the troika that investment and growth were paramount to overcome the severe economic and social crisis that fell upon the country, the corporate tax was seen as an important policy tool to promote these goals. The reform was thus possible even in the context of a restrictive public finance situation, and followed most guidelines put forward in highly regarded international reports.

A broad corporate tax reform, including rate reduction, a participation exemption regime, a more flexible rule on cost acceptance, an extension of loss carry over period, to name a few, was possible in a very constrained public finance situation. By placing the emphasis on moving the system towards international trends and promoting measures to enhance investment and growth, international creditors could accept such a reform. Also, a consensus with the main opposition party was a very important factor in securing much needed political support.

The findings from what can be considered as an experiment in corporate tax reform in tough economic and social times can be useful to policymakers, tax authorities and international bodies dealing with tax reform processes. The impact on managerial decisions such as investment and financing is also relevant.

This paper aims to analyse the legal framework of reincorporations and subsequent change of applicable law in Greece and Cyprus. A comparison between Greek Law and Cyprus Law is drawn. This paper highlights possible required reforms. Cyprus has a quite detailed legal framework of voluntary inbound and outbound reincorporations. While Greece has certain provisions on outbound reincorporations, it does not have any provisions on inbound reincorporations. The compatibility of these national provisions with internal market rules, as interpreted by the case law of the Court of Justice of the EU (CJEU), is discussed.

This paper follows a comparative approach. After a careful analysis of each national legal framework, a comparison between Greek law and Cyprus law follows. This paper also follows an EU law approach.

These two jurisdictions present some differences. Cyprus adopting the incorporation theory has a detailed, sophisticated and flexible legal framework of reincorporations. Although Greece adopting the real seat theory has some special provisions for outbound reincorporations, there are no specific provisions for inbound reincorporations. Inbound reincorporations are possible under Greek law, but the absence of detailed provisions is against legal certainty. Cyprus law on reincorporations could be used as an example for Greek legislature. However, possible EU harmonisation of seat transfers is expected to have an immense impact on national provisions for reincorporations.

Reincorporations constitute a significant corporate restructuring technique with important practical implications on the economy. Apart from academics, this paper attracts the interest of lawyers, managers, accountants, officers of supervisory and regulatory bodies and policymakers engaged with reincorporations.

This is one of the few academic papers comparing Greek and Cyprus company law and private international law. It is the first paper that compares the Greek and Cyprus legal framework of reincorporations.

Although it is possible to achieve a balanced diet by eating a variety of foods, it is clear that there is a gap between the ideal and the reality of what people actually eat. For individuals at all stages of life and with changing lifestyles where food selections may compromise optimal nutrition, nutrient‐dense foods including fortified foods and food supplements can serve as an effective means of ensuring that micronutrient needs are fulfilled. Populations at risk include the elderly, women at various life stages, children and adolescents, and people trying to lose weight. Efficacy and safety are key health issues: efficacy refers to the ability of vitamins and minerals either to prevent a deficiency, to enhance a physiological effect or to reduce the risk of disease; safety refers to the safe intake of a micronutrient to avoid adverse effects. Safety is the fundamental tenet of the scientific risk assessments and the cornerstone of food safety policy and legislation. Harmonisation of laws on food fortification and food supplements at EU level will help to ensure a high level of public health and consumer protection and facilitate the free circulation of food products within the community.

This chapter focuses on meanings of decentralization in the context of post-socialist reforms in Romania. The main purpose is to examine the circulation of decentralization reform in what is generally considered to be a highly centralized country. Drawing on policy analysis and in-depth interviews and focus groups with teachers and school administrators, the findings reveal contrasting perspectives and hybridized ideas about the meanings of decentralization reforms in Romania. These reforms should be seen in the context of larger trends toward marketization (McGinn & Welsh, 1999). With the emergence of discourses on modernization and a “return to Europe,” Romanian political culture has offered a complementary, legitimizing base to the decentralizing reform of administration and education. In line with the recent history of these reforms, most interview participants view 1998 as the peak of real “institutional autonomy,” followed by a decline or even a slow recentralization in subsequent years. They also refer to “self-assigned” or “reclaimed” autonomy, which every teacher can adopt “in their own class, once the doors are closed.” Significantly, most agree that the latter type is essentially the same as in the communist period, prior to the 1989 political changes. We will thus investigate the contrasting perspectives expressed by scholars, teachers, and in policy documents, as well as the hybridized ideas which together result in various visions of reform. The analysis of post-socialist changes, both as real and imagined processes, leads us to conclude that the Romanian education transition should be seen as a complex process which has followed unanticipated trajectories and has led to multiple destinations (Silova, 2009).