With massive growth taking place in the real estate industry, how can China develop a free market and private ownership of land while still officially subscribing to Communist ideology? This study uses fieldwork interviews to establish how the Chinese real estate market operates in practice from both legal and business perspectives. It describes how the market functions, which laws are applicable and how they are applied, and how a nation can achieve dramatic economic growth so rapidly while its legal system is so unsettled. The book demonstrates how China is drawing on the world for ideas while retaining a domestic system that remains essentially Chinese, and how the recent revitalization of China's real estate market has confounded the predictions of many developments economists.

This edited volume presents fresh empirical research on the emerging outcomes of China's law reforms. The chapters examine China's 'going out' policy by addressing the ways in which the underpinning legal reforms enable China to pursue its core interests and broad international responsibilities as a rising power. The contributors consider China's civil and commercial law reforms against the economic backdrop of an outflow of Chinese capital into strategic assets outside her own borders. This movement of capital has become an intriguing phenomenon for both ongoing economic reform and its largely unheralded underpinning law reforms. The contributors ask probing questions about doing business with China and highlight the astonishing escalation of China's outbound foreign direct investment (OFDI). Law and Policy for China's Market Socialism includes contributions from leading China-law scholars and specialist practitioners from the People's Republic of China, Hong Kong, the United States, the United Kingdom and other countries who all extend the examination of powerful influences on China's law reforms into new areas. Given the forecast for the growth of China's domestic market, those wishing to gain a better understanding and seeking success in the world's most dynamic marketplace will benefit greatly from reading this book. This book is essential reading for anyone interested in Chinese economics and business, Chinese Law, Chinese politics and commercial law.

This research review is a unique resource for those seeking a historical overview of the development of corporate governance. The papers trace the evolution of US corporate governance from the time when the subject became prominent in the 1970s to the present day. Topics canvassed include the board of directors, executive pay, shareholder activism and the regulatory structure that shapes corporate governance in the US. The primary focus is on the governance challenges posed by the separation of ownership and control, a hallmark of larger US public companies.

The International Telecommunication Union (ITU) and the Universal Postal Union (UPU) are the two major international organisations that are involved in the regulation of international communications. The ITU deals with electronic communications including radio. The UPU deals with mail. As such, both organisations are of major importance in modern life. This volume provides an up-to-date analysis of their development from inception to the present as they have responded to technical and political change. It also makes suggestions for the future. The volume will be an invaluable resource for researchers and students, policy-makers, government officials and administrators, and legal staff in telecommunication and postal organisations.

Currently, there exists a distrust of corporate activity in the continuing aftermath of the financial crisis and with increasing recognition of the threats of climate change and global, as well as national, inequalities. Despite efforts in the arena of corporate governance to address these, we are still beset with corporate scandals and witness companies facing large fines for their environmental and cost-cutting misdemeanours. Recognising that the usual responses to dealing with these corporate problems are not effective, this book asks whether the traditional form of the joint stock corporation itself lies at the heart of these problems. What are the features of the corporate form and how does its current regulation underscore these problems? Identifying such features provides a basis for the discussion to develop towards suggesting more progressive regulatory developments around the corporate form. More fundamentally, this book investigates a diverse range of corporate governance models that are emerging as alternatives to the shareholder corporation, including employee-owned, cooperative and social enterprises. The contributors are leading scholars from various backgrounds including law, management and organisation studies, finance and accounting, as well as experienced professionals and policy makers with expertise in social and cooperative business models and the role of employees in the corporation.

An examination of the relationship between competition and the deregulation and liberalisation of the US and European air transport sectors reveals that the structure of the air transport sector has undergone a number of significant changes. A growing number of airlines are entering into horizontal and vertical cooperative arrangements and integration including franchising, codeshare agreements, alliances, 'virtual mergers' and in some cases, mergers with other airlines, groups of airlines or other complementary lines of business such as airports. This book considers the current legal issues affecting the air transport sector incorporating recent developments in the industry, including the end of certain exemptions from EU competition rules, the effect of the EU-US Open Skies Agreement, the accession of new EU Member States and the Lisbon Treaty. The book explores the differing European and US regulatory approaches to the changes in the industry and examines how airlines have remained economically efficient in what is perceived as a complex and confused regulatory environment. Competition and Regulation in the Airline Industry will be of particular interest to academics and students of competition law as well as EU law.

Recent significant developments in the European space sector have had an impact on business and the growth of national and European commercial space law. This book analyses and assesses the legal issues and key factors influencing the space sector in Europe. It is an up-to-date guide to the regulatory background of space projects and examines the typical legal problems which need to be solved by practitioners in the field. Taking into account public and commercial international law and practice, this book examines substantive issues of law specific to launchers, satellite manufacturers and space service providers with contributions from leading experts and practitioners in the field of European space law and policy.

This book draws on a wide selection of interdisciplinary literature discussing complex adaptive systems - including scholarship from economics, political science, evolutionary biology, cognitive science, and religion - to apply general complexity tenets to the institutions, conceptual framework, and theoretical justifications of the copyright system, both in the United States and internationally. The author argues that copyrighted works are the products of complex creative systems and, consequently, designers of copyright regimes for the global 'information ecosystem' should look to complexity theory for guidance. Urging legal scholars to undertake empirical studies of real-world copyright systems, Tussey reveals how the selection of workable configurations for the copyright regime is larger than that encompassed by the traditional, entirely theoretical, debate between private property rights and the commons. Finally, this unique study articulates how copyright law must tolerate certain chaotic elements that may be essential to the sustainability of complex systems.

A Basic Guide to International Business Law aims to give students an understanding as well as practical knowledge of legal problems arising in the area of international business, and to equip them with the skills needed to prevent and tackle these problems. All Chapters employ the same didactic structure. Introductory case studies, examples, annotated case law, glossaries, diagrams, summaries and exercises are all designed to familiarize students quickly with relevant aspects of international (business) law. A Basic Guide to International Business Law deals with the following topics: * Introduction to International Private Law and European Law * Legal aspects of negotiations * International contracts: matters of jurisdiction and the law applicable to these contracts * International contracts of sale * Competion law * Free movement of goods, workers, the freedom of capital and establishment and the freedom to provide services * International payments * Carriage of goods by road and sea * Incoterms * Entry modes (agents, representatives, distributors, licensing, franchising)

The control of multinational corporations is an area of law that has attracted immense attention both at national and international level. In recognition of the importance of the subject matter, the United Nations Secretary General has appointed a special representative to work in this area.

The book discusses the current trend by MNCs to self regulate by employing voluntary corporate social responsibility (CSR) strategy. Olufemi Amao argues that the CSR concept is insufficient to deal with externalities emanating from MNCs' operations, including human rights violations. Amao maintains that for CSR to be effective, the law must engage with the concept. In particular, he examines how the law can be employed to achieve this goal. While noting that the control of MNCs involves regulation at the international level, it is argued that more emphasis needs to be placed on possibilities at home, in States and host States where there are stronger bases for the control of corporations.

This book will be useful to academic scholars, students, policy makers in developing countries, UN, UN Agencies, the African Union and its agencies, the European Union and its agencies and other international policy makers.

The statutory duty of public service ombudsmen (PSO) is to investigate claims of injustice caused by maladministration in the provision of public services. This book examines the modern role of the ombudsman within the overall emerging system of administrative justice and makes recommendations as to how PSO should optimize their potential within the wider administrative justice context. Recent developments are discussed and long standing questions that have yet to be adequately resolved in the ombudsman community are re-evaluated given broader changes in the administrative justice sector. The work balances theory and empirical research conducted in a number of common law countries. Although there has been much debate within the ombudsman community in recent years aimed at developing and improving the practice of ombudsmanry, this work represents a significant advance on current academic understanding of the discipline.

The years from 2000 to 2010 were bookended by two major economic crises. The bursting of the dotcom bubble and the extended bear market of 2000 to 2002 prompted Congress to pass the Sarbanes-Oxley Act, which was directed at core aspects of corporate governance. At the end of the decade came the bursting of the housing bubble, followed by a severe credit crunch, and the worst economic downturn in decades. In response, Congress passed the Dodd-Frank Act, which changed vast swathes of financial regulation. Among these changes were a number of significant corporate governance reforms.
Corporate Governance after the Financial Crisis asks two questions about these changes. First, are they a good idea that will improve corporate governance? Second, what do they tell us about the relative merits of the federal government and the states as sources of corporate governance regulation? Traditionally, corporate law was the province of the states. Today, however, the federal government is increasingly engaged in corporate governance regulation. The changes examined in this work provide a series of case studies in which to explore the question of whether federalization will lead to better outcomes. The author analyzes these changes in the context of corporate governance, executive compensation, corporate fraud and disclosure, shareholder activism, corporate democracy, and declining US capital market competitiveness.

First published in 1991, Rethinking Labour-Management Relations explores how the contemporary system of industrial relations developed and outlines proposals for a better alternative. The book examines the positives and negatives of three systems of industrial relations: a freely operating market for labour where workers bargain individually with employers; a strike-based system of collective bargaining; and, a compulsory arbitration system. It discusses how the strike replaced individual bargaining, highlighting the deficiencies in these respective systems and presenting arbitration as the more efficient and effective way of settling disputes. In doing so, the book emphasises the role of the parties involved in finding solutions and considers how government intervention could be kept to a minimum. Exploring a wealth of literature relating to compulsory arbitration systems around the world and formulating a set of criteria for establishing the best possible form of arbitration, Rethinking Labour-Management Relations will appeal to those with an interest in the history of trade union theory, public policy, and labour law.

This book critically reviews the recurrent debate on Intellectual Property law and policy in developing countries carried out in the last decade. It identifies the still unresolved policy issues and proposes alternative approaches that resonate with the needs for transformation of the economic and social reality of developing countries. Focusing on emerging economies in Asia, the work draws the wider lessons to be learnt by researchers, policy makers, legislators and the business sector in general and concludes by putting forward proposals for reform.

This book explores the rationalities and functions of securities markets and takeover activities. Focusing on the Chinese experience of utilizing the securities market as an effective mechanism of corporate control, this volume analyses the future development of China's financial market in the era of economic globalization. Providing an overview of the historical development of the securities market and a literature review of the economic functions of stock markets, Securities Markets and Corporate Governance also examines the legal regimes governing securities markets and takeovers in some leading corporate economies including the US, Germany, Japan and the UK. This volume then focuses on the Chinese experience, proposing a model which balances internal corporate governance and external market control for China.

Since the implementation of the European Directive on Takeover Bids, a European common legal framework governs regulation of takeovers in EU Members States. The European Directive on Takeover Bids was adopted in April 2004, and implemented in the UK and in other Member States on 20th May 2006. The Directive seeks to regulate takeovers by way of protecting investors, and harmonising takeover laws in Europe. In facilitating the restructuring of companies through takeovers, the Directive aims at reinforcing the free movement of capital.

Takeovers and the European Legal Framework studies the European Community Directive on Takeover Bids, in order to provide greater understanding of both the impact and effect of the European legal framework of takeover regulation. It firstly looks at the Directive from a British perspective, focusing on the impact of the transposition of the Takeover Directive into the UK. The book examines the provisions of the City Code on Takeovers and Mergers, and discusses the takeover provisions in the Companies Act 2006 that implement the Takeover Directive in the UK, arguing that the Directive will provide a new basis for UK takeover regulation, and that the system will work well.

Jonathan Mukwiri goes on to consider the Directive in relation to the EU, arguing that despite its deficiencies, in that Member States are free to opt to restrict takeovers, the Directive provides a useful legal framework by which takeovers are regulated in different jurisdictions. Mukwiri highlights how the freedoms of the EC Treaty and EU Directives interact, and the effects of the Takeover Directive on political considerations in the law-making process in European Community. Moreover, he argues that the future of EU takeover regulation is likely to follow the lead of the UK, making this book relevant to a wide range of policy makers and academics across Europe.

The history of incorporations legislation and its administration is intimately tied to changes in social beliefs in respect to the role and purpose of the corporation. By studying the evolution of the corporate form in Britain and a number of its colonial possessions, the book illuminates debates on key concepts including the meanings of laissez faire, freedom of commerce, the notion of corporate responsibility and the role of the state in the regulation of business. In doing so, A Social History of Company Law advances our understanding of the shape, effectiveness and deficiencies of modern regulatory regimes, and will be of much interest to a wide circle of scholars.

Containing contributions by some of the best known researchers in the field, this volume considers the intersection between the Open Method of Coordination (OMC), a relatively new mode of policy-making, and gender equality, a long-standing area of EU policy. It draws on a range of disciplinary perspectives to examine the effectiveness of the OMC as a medium for the advancement of gender equality within the EU. It also considers gender in the OMC in a variety of contexts and at both a general EU and Member State level. Central to the discussion is the concept of gender mainstreaming which proposes that a gender equality perspective should be incorporated at every level and opportunity of EU policy and practice. The authors assess how successful this has been in the context of the OMC. The book provides a unique and contemporary body of work on the OMC which adds significantly to existing understandings of this form of governance and informs critical debate of EU social governance.

This book describes and assesses an emerging threat to states' territorial control and sovereignty: the hostile control of companies that carry out privatized aspects of sovereign authority. The threat arises from the massive worldwide shift of state activities to the private sector since the late 1970s in conjunction with two other modern trends - the globalization of business and the liberalization of international capital flows. The work introduces three new concepts: firstly, the rise of companies that handle privatized activities, and the associated advent of "post-government companies" that make such activities their core business. Control of them may reside with individual investors, other companies or investment funds, or it may reside with other states through state-owned enterprises or sovereign wealth funds. Secondly, "imperfect privatizations:" when a state privatizes an activity to another state's public sector. The book identifies cases where this is happening. It also elaborates on how ownership and influence of companies that perform privatized functions may not be transparent, and can pass to inherently hostile actors, including criminal or terrorist organizations. Thirdly, "belligerent companies," whose conduct is hostile to those of states where they are active. The book concludes by assessing the adequacy of existing legal and regulatory regimes and how relevant norms may evolve.

The crisis of distribution is one of the longest standing and complicated issues facing human society. Imbued with social, political, historic, and cultural elements, it varies significantly across different countries as a result of all these factors. As an emerging economy which transferred from a planned to a market economy, China has experienced large distribution gaps since it implemented the Reform and Opening-up Policy in the early 1980s, requiring stronger economic law to mitigate and regulate the crisis of distribution. The two volumes examine the crisis of distribution that China faces and proposes policy and economic law methods that can be used to overcome the distribution dilemma. The author discusses the four main concepts and focus points of the crisis of distribution - distribution itself, the crises it faces, the rule of law and development before proposing a theoretical framework of "system-distribution-development" to resolve distribution problems that China faces. The book should be of keen interest to researchers and students of law, economics, and political science.

The contributors in this volume address the fundamental relationship between the state and its citizens, and among the people themselves. Discussion centers on a recent decision by the United States Supreme Court in the case of Kelo v. City of New London. This case involved the use of eminent domain power to acquire private property for purposes of transferring it by the State to another private party that would make "better" economic use of the land. This type of state action has been identified as an "economic development taking". In the Kelo case, the Court held that the action was legal within provisions of the US Constitution but the opinion was contentious among some of the Justices and has been met with significant negative outcry from the public. The Kelo case and the public debate arising in its aftermath give cause to assess the legal landscape related to the ability of government to fairly balance the tension between private property and the public interest. The tension and the need to successfully strike a balance are not unique to any one country or any one political system. From the United States to the United Kingdom, to the People's Republic of China, property and its legal regulation are of prime importance to matters of economic development and civic institution building. The Kelo decision, therefore, explores a rich set of legal principles with broad applicability.

Lode Walgrave has made a highly significant contribution to the worldwide development of the restorative justice movement over the last two decades. This book represents the culmination of his vision for restorative justice. Coming to the subject from a juvenile justice background he initially saw restorative justice as a means of escaping the rehabilitation-punishment dilemma, and as the basis for a more constructive judicial response to youth crime that had been the case hitherto. Over time his conception of restorative justice moved in the direction of focusing on repairing harm and suffering rather than ensuring that the youthful offender met with a 'just' response, and encompassing the notion that restorative justice was not so much about a justice system promoting restoration, more a matter of doing justice through restoration. This book develops Lode Walgrave's conception of restorative justice further, incorporating a number of key elements. * a clearly outcome-based definition of restorative justice * acceptance of the need to use judicial coercion to impose sanctions as part of the reparative process * presenting restorative justice as a fully fledged alternative to the punitive apriorism * development of a more sophisticated concept of the relationship between restorative justice and the law, and acceptance of the need for legal regulation * a consideration of the expansion of a restorative justice philosophy into other areas of social life and the threats and opportunities this provides * a consideration of the implications of the expansion of restorative justice for the discipline of criminology and democracy

The spate of corporate governance scandals in the USA, Asia and Europe during the late 1990s has renewed interest in the role of corporations in society. International organizations such as the World Bank and OECD have come to recognize that corporate law plays an important role in economic development and GDP growth. In this timely and important collection, Jonathan Macey presents the key papers that have influenced the development of corporate law scholarship. The many topics covered include the foundations of the economics of corporate law, the corporation as a nexus of contracts, corporate law from a Coasean perspective, insider trading and jurisdictional competition. The articles and the editor's authoritative introduction are essential readings for those with an interest in corporate law and its economic underpinnings.

In recent decades, corporations have increasingly accepted that they have obligations to respect the socio-economic rights of individuals whose rights to livelihoods, education, food, health, housing and water are affected by the actions of corporations on a daily basis. Despite this, it is often difficult for victims to bring corporations to court for violations of their socio-economic rights. Domestic constitutional systems provide, at best, fragile and limited protections against adverse corporate activities, while international responses have been lacking in creating obligations and accountability for corporations under socio-economic rights. The urgency of bolstering corporate accountability for socio-economic rights is therefore apparent. In light of this, this book asks whether corporations are required to observe socio-economic rights and if they are accountable for any violations. In doing so, it identifies and analyzes the theoretical foundations and the existing scope of corporate accountability arising from socio-economic rights at both national and international levels. Through careful analysis, Jernej Letnar Cernic exposes the stark need for greater clarity in the obligations and accountability of corporations, advocating a normative framework for corporate accountability for socio-economic rights in national legal orders which builds on existing mechanisms.

This book analyzes in detail how and why people become involved in long-firm (planned bankruptcy) fraud, the similarities and differences between long-firm fraud and other crimes, the links between bankruptcy fraudsters and other professional and organized criminals, the techniques that fraudsters use, and the social and commercial relationships that exist within the operational world of the long-firm fraudster. Extensively researched, the study uses interviews with and documentation from businesspeople, credit controllers, lawyers, judges, police, fraud investigators as well as fraudsters themselves. It also makes use of extensive documentary material from contemporary and historical police and court records. Originally published in the 1980s, the revised edition of this seminal work provides a substantial new introduction written by the author to highlight the changing and unchanging relevance of the findings for a contemporary audience, and the ways in which fraud opportunities and the organization of frauds have modified in the intervening years.