The rapid globalization of capital markets has increased attention toward examining the quality of the disclosure practices implemented by companies, as internationalization and globalization are the most important motives of the harmonization of financial statements preparation and presentation. Given the expansion of trade and the openness to foreign capital markets, investment decisions became not limited only for local users, but also international users may need to access the financial information. The issuance of International Financial Reporting Standards (IFRS) to be used throughout the world aims to improve the comparability and understandability of financial statements, and hence, to enhance investment decisions through helping investors across the borders to invest in multinational companies. Although fluid and under-developed institutional arrangements remain central features of emerging markets, ensuring effective corporate governance mechanisms would indeed support companies in complying with IFRS - the latter imposes a challenge for companies operating in emerging markets. This book evaluates the differences in the level of compliance with IFRS across the GCC states, exploring the impact of corporate governance on the level of compliance with IFRS and presenting an empirical analysis of companies across the GCC. It makes an important contribution by providing a detailed empirical analysis of the interplay between corporate governance and IFRS in emerging market setting and highlights the way for future research. It will provide international business, management, and accounting and finance students and senior practitioners with a completely new and updated guide to the work in the field of corporate governance and IFRS compliance in emerging markets.

There are few contemporary studies on the finances of unions. Indeed, little research exists on the internal operations of unions in the U.S. This book provides a comprehensive analysis of the financial resources and performance of the largest national unions. It discusses the theoretical and practical relevance of the topic, which goes directly to the formation, maintenance, and potential advancement of labor organizations. Financial capacity and performance create incentives for unions to mobilize at the grassroots level and launch major drives to improve their position in society. Understanding how unions raise and spend money provides insight as to their administrative orientation and organizational capacity. Given its topical breadth and depth, the book stands apart from the extant literature on unions in society. It is unique in the range of financial information presented, how data are analyzed, and its treatment of such important matters as compensation and benefits; operating budgets; political activism as measured by expenditures from treasury-based funds and political mechanisms funded by members through voluntary donations. The authors show not only the scope of union financial wherewithal and how it varies across labor organizations but also how such indicators compare to corporate entities who employ the rank-and-file. The book provides a wealth of information on how to analyze the finances of unions and to use this information to prepare for collective bargaining and other aspects of labor-management relations. It informs employers and other observers about how unions are able to represent members and their ability to withstand strikes.

This book investigates the relationship between company law, securities markets and securities regulation. The purpose of this investigation is to try and determine whether listed companies should be treated differently by company law from other companies. The issues here raise questions about corporate governance, the relative power of regulators and markets and the effect of market forces on regulators.

Enterprise law represents the entire range of private contracts and public regulations governing the relationship of different capital providers. Enterprise Law comparatively analyses the way these fundamental legal frameworks complement each other in the United States and Japan.In this collection of essays edited by Professor Zenichi Shishido, a wide range of leading scholars examine the firm as an incentive mechanism and show how law the whole legal system affect the incentive bargain between the firm's major players, positively with markets and social norms. They establish that enterprise law is not always effective in its attempt to affect the incentive bargain of the firm by itself, but instead works by interacting complementarily with markets and social norms. Demonstrating the dynamic relationship between parts and the whole of enterprise law, this exceptional book will be of special interest to comparative law, and law and economics scholars and students. Contributors: K.M. Ayotte, K.G. Dau-Schmidt, T. Eguchi, B.C. Ellis, D. Gamage, M.P. Gergen, G. Goto, B.E. Hermalin, Y. Higashi, A. Hoshi, H. Iida, H. Itoh, H.E. Jackson, T. Kitagawa, C.J. Milhaupt, H. Miyajima, E.R. Morrison, S. Osaki, K. Osugi, J.M. Ramseyer, S. Rana, R. Romano, K. Sekiguchi, Z. Shishido, W. Tanaka, A. Tokutsu, G. Triantis, J.H. Verkerke, T. Watanabe, N. Yanagawa

This book adopts a cross-jurisdictional perspective to consider contemporary corporate whistleblowing issues from an ethical theoretical perspective, regulatory perspective, and practical perspective. It includes in particular arguments in favour of and against the adoption of financial incentive schemes for whistleblowers, as well as the potential implications of adopting such schemes. This approach provides a valuable opportunity for comparison from a law reform perspective. The book brings together authors from various jurisdictions - Canada, Australia, and the USA - who, through their exposure to this area of law, be it as practitioners, regulators, or academics, offer valuable and interesting insights on the emerging and topical area of corporate whistleblowing generally, and whistleblowing rewards in particular. These three jurisdictions were selected on the basis of their reform-oriented stance on corporate whistleblowing and/or implementation of financial incentives for whistleblowing, creating an opportunity to assess contemporary regulatory structures and in particular how incentives measures could interact with corporate whistleblowing regulatory frameworks, and how they could contribute to improved governance. The reasons for the rejection of the notion of financial incentives in the United Kingdom are also reviewed, in order to provide a comparative overview. The book provides useful guidance for those who may be affected by the implementation of corporate whistleblowing schemes, including for reward, whether as regulators, practitioners, company directors, or whistle blowers.

Through further technological development and increased globalization, conducting busines abroad has become easier, especially for Small and Medium Enterprises (SME). However, the legal issues associated with international commerce have not lessened in complexity, including the role of non-state rules. The book provides a comprehensive analysis of non-state rules in international commercial contracts. Non-state rules have legal authority in the national and international sphere, but the key question is how this legal authority can be understood and established. To answer this question this book examines first what non-state rules are and how their legal authority can be measured, it then analyses how non-state rules are applied in different scenarios, including as the applicable law, as a source of law, or to interpret either the law or the contract. Throughout this analysis three other important questions are also answered: when can non-state rules be applied? when are they applied? and how are they applied? The book concludes with a framework and classification that leads to a deeper understanding of the legal authority of non-state rules. Providing a transnational perspective on this important topic, this book will appeal to anyone researching international commercial law. It will also be a valuable resource for arbitrators and anyone working in international commercial litigation.

What happens when a corporate subsidiary or network company is unable to pay personal injury victims in full? This book sets out to tackle the 'insolvent entity problem', especially as it arises in cases of mass wrongdoing such as those involving asbestos exposure and defective pharmaceuticals. After discussing the nature of corporate groups and networks from the perspectives of business history, organisation studies, and social theory, the book assesses a range of rules and proposed rules for extending liability for personal injuries beyond insolvent entities. New proposals are put forward for an exception to the rule of limited liability and for the development of a flexible new tort based on conspiracy that encompasses not only control-based relationships but also horizontal coordination between companies. The book concludes with a general discussion of lessons learned from debates about extended liability and provides guidelines for the development of new liability rules.

Throughout the world, the Anglo-American model of corporate governance tends to prevail - but no two countries are identical. Governance outcomes in developing and emerging economies often deviate from what theory predicts, due to a wide range of factors. Using insights from New Institutional Economics, Corporate Governance in Developing and Emerging Markets aims to explain the different issues and cultural and legal factors at play, and put forward an alternative governance framework for these economies. Structured in three parts, this text investigates different models of corporate governance; it explores the realities of corporate governance in ten nations, including the 'BRICS' (Brazil, Russia, India, China and South Africa) and 'MINT' (Mexico, Indonesia, Nigeria and Turkey) countries; and then considers corporate governance reform. This interdisciplinary text will be a valuable tool for students of corporate governance across Business, Economics and Law; and an equally useful resource for anyone working in or carrying out research in this area.

The Enlightened Shareholder Value principle and Corporate Social Responsibility are areas of increasing academic and research interest. However, discussions on the ESV principle in relation to CSR are very limited. This book provides a critical analysis of the impact of the concept of ESV, embedded in the Companies Act 2006, on CSR and explores the scope for reform. Along with analysing existing empirical research, it presents the findings of an empirical study conducted to determine whether the concept of ESV is capable of promoting or assisting CSR. The book also examines whether implementing an ESV approach has had any impact on the CSR practices of multinational corporations that originate in the UK and operate in developing nations, as in order to assess whether the ESV principle links to CSR both its domestic and international impact need to be considered. This analysis was undertaken through the lens of a case study on the ready-made garment industry in Bangladesh, with some focus on the Rana Plaza factory disaster. This study also assists in demonstrating the changes that need to be made to improve the current situation. Lastly, the book addresses the need for reform in the area and provides possible suggestions for reform. This interdisciplinary book will be of great interest to students and scholars of corporate law, corporate governance and business studies in general as well as policymakers, NGOs and government departments in many countries around the world working in the fields of CSR, sustainability and global supply chains.

This book draws together themes in business model developments in relation to decentralised business models (DBMs), sometimes referred to as the 'sharing' economy, to systematically analyse the challenges to corporate and organisational law and governance. DBMs include business networks, the global supply chain, public-private partnerships, the platform economy and blockchain-based enterprises. The law of organisational forms and governance has been slow in responding to changes, and reliance has been placed on innovations in contract law to support the business model developments. The authors argue that the law of organisations and governance can respond to changes in the phenomenon of decentralised business models driven by transformative technology and new socio-economic dynamics. They argue that principles underlying the law of organisations and governance, such as corporate governance, are crucial to constituting, facilitating and enabling reciprocality, mutuality, governance and redress in relation to these business models, the wealth-creation of which subscribes to neither a firm nor market system, is neither hierarchical nor totally decentralised, and incorporates socio-economic elements that are often enmeshed with incentives and relations. Of interest to academics, policymakers and legal practitioners, this book offers proposals for new thinking in the law of organisation and governance to advance the possibilities of a new socio-economic future.

This edited collection on international commercial and investment disputes in, and with, India examines past and present landmark legislative and regulatory reforms initiated by the Indian government, including the 2015 new Bilateral Investment Treaty (BIT) model, the 2015 amendments to the 1996 Arbitration Act and the 2013 amendments to Section 135 of the Companies Act on Corporate Social Responsibility (CSR), as well as the most recent amendments to the same. The book also includes recent developments in the dispute resolution arena, regional, and international negotiations involving India, the legal profession's response to these developments, and civil society's comments. In addition, it addresses contemporary problems of key importance and at the centre of today's discussions, from the legitimacy and relevance of Investor-State Dispute Settlement (ISDS) to the denunciation of Bilateral Investment Treaties (BITs), and the role arbitration should play in emerging economies now leaders in world trade. In creating bridges between commercial and investment arbitration, it also renews the conceptual approach to these too often artificially isolated fields of law. The volume provides an accurate and updated account of the many fascinating conceptual and practical evolutions, which already impact the world of international dispute resolution far beyond the borders of India. This unique and exhaustive study will be of great appeal to a vast range of readers from practitioners to academia.

This collection of essays provides a rich and contemporary discussion of the principle of pacta sunt servanda. This principle, which requires that valid agreements are to be honoured, is a cornerstone of contract law. Focusing on contributions from Asia, this book shows that, despite its natural and universal appeal, the pacta sunt servanda principle is neither absolute nor immutable. Exceptions to the binding force of contract must be available in limited circumstances to avoid hardship and unfairness. This book offers readers new comparative perspectives on the appropriate balance between contractual certainty and flexibility in an era of social instability. Expert authors, mostly from East and Southeast Asia, explore when their domestic legal systems allow exceptions from the binding force of contracts. Doctrines discussed include impossibility, frustration, change of circumstance, force majeure, illegality as well as rights of withdrawal. Other chapters consider the importance of the pacta principle in international law. The challenges posed by the COVID-19 pandemic feature strongly in the majority of contributions.

Providing short, clear and accessible explanations of the main areas of EU law, Understanding European Union Law is both an ideal introduction for students new to EU law and an essential addition to revision for the more accomplished. This eighth edition has been fully revised and updated with the latest legislative changes and includes an in-depth discussion of 'Brexit' and its implications for EU-UK relations. The book provides readers with a clear understanding of the structures and rationale behind EU law, explaining how and why the law has developed as it has. In addition to discussing the core areas of EU law such as its sources, the role and powers of the EU's Institutions, the enforcement of EU law and the law of the internal market, this edition also includes a new chapter on three 'non-economic' areas of EU law: fundamental human rights, equality (non-discrimination) and the environment. This student-friendly text is both broad in scope and highly accessible. It will inspire students towards further study and show that understanding EU law can be an enjoyable and rewarding experience. As well as being essential reading for Law students, Understanding European Union Law is also suitable for students on other courses where basic knowledge of EU law is required or useful, such as business studies, political science, international relations or European studies programmes.

The widespread understanding of auction structure considers auction as consisting of three contracts: contract between the seller and the auctioneer, contract between the auctioneer and the buyer and the sale contract between the seller and the buyer. The book challenges this concept, arguing that the traditional tripartite concept of auction is too narrow and does not correspond to the actual structure of auction relations. Demonstrating that an auction structure consists of a plethora of legal relationships, including noncontractual relations, this book explores the legal concept of auction sale and the structure of accompanying relations. The book provides a historical overview of auctions and different auction models. Following a brief introduction to the economic theory, auction models are examined against the following legal criteria: price formation, publicity, parties' autonomy, legal form and applied technology to find a legal concept and nature of auction. The book explores the legal position of key auction figures and auction objects to identify the categories of legal relations that appear at auction. It explores the legal nature of the main contract, as well as the relations between the consignor and the auctioneer, the auctioneer and the bidders, the bidders themselves, the consignor and the bidders. The book covers relations arising from droit de suite, financial and bidding agreements to provide a comprehensive overview of lesserknown legal relations that commonly arise in auction practice.

This book argues that the European integration process (Europeanisation) is pushing the member states and candidate countries toward a greater convergence with the EU's competition acquis. Through the transposition of the Directive 2014/104/EU, the member states have harmonised substantive and procedural rules, which is beneficial to individuals and enterprises because it provides a minimum protection across all member states. In addition, it is commonly agreed in academia that the prospect of EU membership brings positive domestic changes in the candidate countries. At the moment, Albania is waiting to open negotiations for the chapters of the EU acquis. Firstly, this book addresses the evolution of private enforcement at the European level by examining the objectives, modalities, and actors that contributed to the development of private enforcement. Secondly, it analyses the Directive 2014/104/EU and how the three selected EU member states have transposed the directive into their domestic legal system considering the discretion margin left by Article 288 TFEU and a minimum harmonisation level defined in the directive. Thirdly, it provides a historical overview of private enforcement in Albania and shows how the Albanian Competition Authority has addressed the transposition of the Directive 2014/104/EU.

The Routledge Handbook of Gender and Development provides a comprehensive statement and reference point for gender and development policy making and practice in an international and multi-disciplinary context. Specifically, it provides critical reviews and appraisals of the current state of gender and development and considers future trends. It includes theoretical and practical approaches as well as empirical studies. The international reach and scope of the Handbook and the contributors' experiences allow engagement with and reflection upon these bridging and linking themes, as well as the examining the politics and policy of how we think about and practice gender and development. Organized into eight inter-related sections, the Handbook contains over 50 contributions from leading scholars, looking at conceptual and theoretical approaches, environmental resources, poverty and families, women and health related services, migration and mobility, the effect of civil and international conflict, and international economies and development. This Handbook provides a wealth of interdisciplinary information and will appeal to students and practitioners in Geography, Development Studies, Gender Studies and related disciplines.

This book presents a comprehensive assessment of anti-cartel enforcement and investigative procedures in India. It makes a case for enhanced sanctions for cartel conduct in India. Cartels are considered the most pernicious violation of competition law, referred to as "cancer to the free market economy". While competition laws in most jurisdictions prescribe strict sanctions against cartels, Indian Competition Law provides only civil penalties, with an upper ceiling for proven cartel conduct. This volume assesses the effectiveness of anti-cartel enforcement of the Competition Commission of India (CCI). It explores investigative procedures of the CCI through multiple qualitative and quantitative indicators and the extent to which enforcement of anti-cartel laws in India has led to cartel deterrence. Further, it also examines the priorities and processes of the CCI in terms of anti-cartel enforcement, their sanctioning mechanism and their dependency of computation of penalty on varied factors. Featuring detailed case law studies and engaging data, this book will be an essential read for students and researchers of law and legal studies, competition law, corporate law, intellectual property law, and business law.

This book tracks the phenomenon of international corporate personhood (ICP) in international law and explores many legal issues raised in its wake. It sketches a theory of the ICP and encourages engagement with its amorphous legal nature through reimagination of international law beyond the State, in service to humanity. The book offers two primary contributions, one descriptive and one normative. The descriptive section of the book sketches a history of the emergence of the ICP and discusses existing analogical approaches to theorizing the corporation in international law. It then turns to an analysis of the primary judicial decisions and international legal instruments that animate internationally a concept that began in U.S. domestic law. The descriptive section concludes with a list of twenty-two judge-made and text-made rights and privileges presently available to the ICP that are not available to other international legal personalities; these are later categorized into 'active' and 'passive' rights. The normative section of the book begins the shift from what is to what ought to be by sketching a theory of the ICP that - unlike existing attempts to place the corporation in international legal theory - does not rely on analogical reasoning. Rather, it adopts the Jessupian emphasis on 'human problems' and encourages pragmatic, solution-oriented legal analysis and interpretation, especially in arbitral tribunals and international courts where legal reasoning is frequently borrowed from domestic law and international treaty regimes. It suggests that ICPs should have 'passive' or procedural rights that cater to problems that can be characterized as 'universal' but that international law should avoid universalizing 'active' or substantive rights which ICPs can shape through agency. The book concludes by identifying new trajectories in law relevant to the future and evolution of the ICP. This book will be most useful to students and practitioners of international law but provides riveting material for anyone interested in understanding the phenomenon of international corporate personhood or the international law surrounding corporations more generally.

Corporate social responsibility (CSR) is setting new missions for companies and shining a welcome light on issues such as the behaviour of board members, shared value, the well-being of stakeholders, the protection of vulnerable individuals and the roles played by public opinion and shareholders. This timely book seeks to lay the foundations for a sustainable corporate governance based on the European Commission definition of CSR as 'the responsibility of enterprises for their impacts on society'. More generally, this sustainable corporate governance responds to some of the pressing challenges of the 21st century, from sustainable finance and climate change to carbon reduction and population growth. The book offers a comprehensive theoretical and educational approach to CSR, with references to key international, European and national texts on this subject. It is written largely from a European and French perspective, but draws comparisons with the United Kingdom and United States. The close relationship between the demands of energy transition and corporate governance and the role of Social Responsibility Investment (SRI) and its relationship with CSR are covered in depth. In addition, the notion of a 'stakeholder', as well as changes in our understanding of this term and its impact on corporate governance, is explored in detail. This significant book offers a theoretical and dynamic approach to CSR, adopting a holistic vision that is both practical and forward-looking. Providing a wealth of reference material and highlighting areas for future research, it is an ideal tool for both students and academics studying CSR.

This book analyzes the specifics of corporate governance of China's State Owned Enterprises (SOEs) and their assessment under EU merger control, which is reflected in the EU Commission's screening of the notified economic concentrations. Guided by the going global policy and the Belt and Road Initiative, Chinese SOEs have expanded their global presence considerably. Driven by the need to acquire cutting edge technologies and other industrial policy considerations, Chinese SOEs have engaged in a series of corporate acquisitions in Europe. The main objective of this book is to demonstrate the conceptual and regulatory challenges of applying traditional merger assessment tools in cases involving Chinese SOEs due to the specifics in their corporate governance and the regulatory framework under which they operate in China. The book also explores the connection between the challenges experienced by the merger control regimes in the EU and the recent introduction of the EU foreign direct investment screening framework followed by a proposal concerning foreign subsidies. The book will be a useful guide for academics and researchers in the fields of law, international relations, political science, and political economy; legal practitioners dealing with cross-border mergers and acquisitions; national competition authorities and other public bodies carrying out merger control; policy makers, government officials, and diplomats in China and the EU engaged in bilateral economic relations.

Corporate Criminal Liability is on the rise worldwide: More and more legal systems now include genuinely criminal sanctioning for legal entities. The various regulatory options available to national criminal justice systems, their implications and their constitutional, economic and psychological parameters are key questions addressed in this volume. Specific emphasis is put on procedural questions relating to corporate criminal liability, on alternative sanctions such as blacklisting of corporations, on common corporate crimes and on questions of transnational criminal justice.

A merger or acquisition is one of the most significant events in the life of a firm and the consequences thereof are multi-faceted: Directors' fiduciary duties, shareholders' rights, valuation methods, structuring, and financing of the deal, to cite a few. Moreover, it requires an army of savvy professionals (accountants and investment banks, etc.) throughout the process; those understanding the technicalities of M&A guarantees and preventing costly missteps. This book explains the steps, distilling the process of both the legal and financial aspects of M&A, for both students and practitioners.

The first book to adapt business ethics theory to the practice of law to explore real-life ethical dilemmas faced by lawyers beyond legal ethics There has been a recent increase in law schools offering business ethics classes and this book is ideally suited for use in the classroom, as well as for legal practitioners Provides clear, real-life scenarios

The first book to adapt business ethics theory to the practice of law to explore real-life ethical dilemmas faced by lawyers beyond legal ethics There has been a recent increase in law schools offering business ethics classes and this book is ideally suited for use in the classroom, as well as for legal practitioners Provides clear, real-life scenarios