This book presents the development and reformation of economic law in China and explores the "three relationships" between the government and market, between reform and rule of law, and between the constitution and economic law. On this basis, it subsequently focuses on development theory, distribution theory, risk theory and crisis theory. Further, it addresses effective development, fair distribution, and prevention and resolution of related risks and crises, which are important functions of economic law. In order to achieve the above functions and objectives, the book argues, we must vigorously promote the integration of rule of law in economic law, and constantly refine the theory of economic rule of law employed in China.The book demonstrates that no matter how the "three major relationships" are adjusted or the relevant systems are reformed - i.e., regarding the implementation of the concept of coordinated development or the optimization of economic structures; the solution of distribution problems or the improvement of distribution systems; the prevention of risks or the response to crises - any such changes depend on economic rule of law. The above-mentioned theoretical discussion presents a "new horizon" of contemporary Chinese economic law theory, which will be of great value to the future development of economic law theory.

Today's international trade regime explicitly rejects cultural perceptions of what is safe to eat, overturning millennia of tradition. The World Trade Organization (WTO) Agreement on the Application of Sanitary and Phytosanitary Measures (SPS) enshrines "science" as the arbiter in resolving disputes involving this vital human need. This mandate, however, is under attack from many quarters. Critics cite environmental and ethical concerns, unpredictably changing technology, taste, food preferences, local culture, adequacy of governmental implementation of WTO standards, and the reliability of scientific opinion. A basic conflict has crystallized: food as culture versus food as commerce. The WTO/SPS approach is increasingly challenged for its balance in favour of economic considerations, and for its visible undermining of unique cultural identities. This book explores the relationship between the SPS Agreement, food traditions, science, and technology. It deliberately confronts those trade experts who refuse to allow other social sciences to influence their economics-based trade theory. The author investigates the local perception of food and food safety from the anthropological and historical points of view, the evolution of food production technologies, and the medicinal, proscriptive (taboo) and security aspects of food that continue to prevail in nearly all cultures today. She succeeds in demonstrating that, no matter how strong the faith in science and economics, it is unwise to flagrantly dismiss the deeply rooted beliefs of billions of people, a huge majority of the world's population. The beef hormones case; the remaining sovereignty related to food safety measures; the increasing significance of "appropriate levels of protection" and "the precautionary principle"; the redefinition of "food hazard" to include production processes as well as food itself; genetically modified seeds and food products; the concept of "risk" in the science-based context of the Codex Alimentarius - these are among the issues and topics covered in depth. The author concludes that, although quick "legal" resolutions of trade disputes about what people should or should not eat might provide a "win" for open trade, support for the entire structure and rationale of the WTO is undermined unless (at the least) some flexibility of interpretation is introduced into the WTO Dispute Resolution System in order to recognize the weight and validity of public opinion.

A compelling explanation of how the law shapes the distribution of wealth What is it that transforms a simple object, an idea, or a promise to pay into an asset that creates wealth? Katharina Pistor explains how, behind closed doors in the offices of private attorneys, capital is created-and why this little-known activity is one of the biggest reasons for the widening wealth gap between the holders of capital and everybody else. A powerful new way of thinking about one of the most pernicious problems of our time, The Code of Capital explores the various ways that debt, complex financial products, and other assets are selectively coded to protect and reproduce private wealth. This provocative book paints a troubling portrait of the pervasive global nature of the code, the people who shape it, and the governments that enforce it.

On 8 October 2004, the Council Regulation (EC) No. 2157/2001 on the Statute for the European Company (SE) will enter into force. In order to make the SE a functional instrument for entrepreneurs and investors, as well as to ensure the effective application of European law, it is necessary to pass national implementation measures by then. National legislators have the opportunity as well as the challenge to shape, in some respect, a national model of the SE which would be attractive for investors and would influence their decision as to where the company be located. Thus, the coming into force of the SE-Regulation will also give "the starting shot" for the competition between national legislators with regard to the law of the European Company. The aim of the present book is to provide the first indications in those national regulations specifically concerning the SE. Although no national law has so far been finally adopted, the first legislative steps have already been taken in many Member States and first drafts have been published. These drafts are presented in the book by the national experts. Moreover, the authors from Member States where no official drafts so far exist, express their personal reflections on how the specific regulations of national law would and should look. Given the fact that in October 2004, when the SE-Regulation comes into force, the European Union will be enlarged by 10 new Member States, the reports cover also some of them, i.e. Poland, Hungary and the Czech Republic.

Undertakings for the Collective Investment of Transferable Securities (UCITS) involve collective investment funds, which are authorized to market their units among countries within the European Union. The objective of the original UCITS directive was to allow for open-ended funds investing in transferable securities to be subject to the same regulation in every Member State. It was hoped that once such legislative uniformity was established throughout Europe, funds authorized in one Member State could be sold to the public in each Member State without further authorization, thereby furthering the EU's goal of a single market for financial services in Europe. Unfortunately, the reality differed somewhat from the expectation. This insightful work examines the taxation of UCITS in Austria, Germany, the Netherlands, and the United Kingdom. It analyzes the tax consequences of the cross-border trade in units of UCITS for unitholders residing in the countries examined. It also features recommendations to remove the tax advantages and disadvantages that occur in cross-border trading.

This is an extremely insightful book on an important and timely topic - how to get women on to corporate boards. I am proud to have been a part of the discussion and processes presented in this book, and I am impressed by how the editors have put together a systematic and comprehensive overview of the snowball effects of the Norwegian gender balance law. This book will definitely be influential when policy-makers and politicians in various countries are considering voluntary actions or legal regulations to empower women in corporate life.' - Kjell Magne Bondevik, Director, Oslo Centre for Peace and Human Rights and Former Prime Minister of Norway (1997-2000 and 2001-2005)'This book provides significant and important insight into the continuing challenge in getting more women on to corporate boards globally. Catalyst has always believed that competing in a global economy requires that companies leverage the talents of both men and women leaders. This book's evidence-based reflections about gender balance in the boardroom, from Norway and beyond, help further the dialogue on this important business issue.' - Ilene H. Lang, President and CEO, Catalyst This book provides unique insights into how the idea of quota laws to get women on to corporate boards gained international momentum from its origins in Norway. Invaluable insights are gained through the stories of actors involved in shaping the discourse and practice on women of boards. In exploring political contexts, the role of the advocacy movement, experiences of women directors themselves and latest research findings, the contributors provide a comprehensive overview of the rationales, processes and outcomes of formal approaches to gender diversity on boards. Drawing on insights from political, business and academic actors, the book discusses how and why the Norwegian law on gender equality on corporate boards is turning into a blueprint for action internationally. Getting Women on to Corporate Boards will prove an invaluable resource for policy-makers, principle-setters, practitioners and students interested in the international lessons from Norway, as well as for current and potential female directors. Contributors: K. Bergsto, H. Bjorkhaug, A. Bolso, M. Brogi, A.D. Buhrmann, L. Davoy, C. Finocchi Mahne, H. Foust-Cummings, K. Hansen, V. Heidenreich, E. Hurvenes, M. Huse, G. Ladegard, M. Lutken, S. Machold, D.P. Moore, I.R. Myhre, N.H. Nergaard, V. Reding, M. Schulz-Strelow, R. Sealy, C. Seierstad, S.O. Sorensen, E.G. Standal, M. Torchia, S. Vinnicombe, D. Weber-Rey, C. Wetli, T. Widvey

The non-discrimination principle enshrined in the Treaty of Rome has grown, through the case law of the European Court of Justice, into a normative core of the utmost importance for the totality of Community law. In particular, the equal treatment doctrine which developed from the application of non-discrimination in employment continues to challenge the legal structures of labour law and European social integration. This collection of essays on the current and future state of equal treatment and non-discrimination in EC law presents the proceedings of a conference held at Lund University in December 2000, sponsored by the Norma Research Programme, which studies normative patterns and their development in the legal regulation of employment, housing, family and social security from a European integration perspective. Important areas of discussion include the following, among many other topics: indirect discrimination, defining the protected group, pregnancy discrimination, positive action, flexibilization of working life, rights of contract workers, and reasonable adjustments for workers with disabilities. In an interesting outcome, the discussion reveals that an analysis in terms of discrimination adds to our understanding of law even in areas that are not generally articulated in such terms. In the wake of the European Charter of Fundamental Rights, and in the light of the distinct possibility that Europe may be moving toward a "Single Non-Discrimination/Equal Treatment Act", this is a fruitful point of view - one of many insights that should make this book a useful source of material with which practitioners, academics, and other interested professionals can further the development of the equal treatment principle in European law.

Departing from an International Relations perspective, this book inquires how industry self-regulation affects the role of international law in governing global banks. It provides case studies of the Wolfsberg Principles and the Equator Principles.

"This book offers a well-argued and insightful critical assessment of the shortcomings of international trade and competition rules in tackling interventionist State measures in the context of an economic crisis. Dawar offers an evidence-rich account of the challenges that State protectionism creates for international trade liberalisation and for the protection of competition in international markets. Her insights will be particularly interesting in the context of current events leading to another surge of State economic interventionism, both for academics and for policy-makers with an interest in international trade." Dr Albert Sanchez-Graells, University of Bristol Law School "This book bursts the bubble of the self-congratulatory attitude that existing institutions, which were set up to discipline governments from a race to the bottom on economic policy, worked well after the financial crisis. These institutions may have prevented tariff wars, a big achievement compared to the time of the Great Depression. But they went along with the subsidies and state aid that governments put in place after 2007. Such flexibility on economic policy is essential in turbulent times. But these institutions are undermined if flexibility comes with a race to the bottom that shifts money away from policies for the more marginalized sections of society. At a time when the left behinds are changing the political landscape of the world, Kamala's book debunks the myth of the success of existing institutions in containing the economic fallout of the global financial crisis. It gives a sobering warning of what might unfold when institutions deal with economic challenges by turning a blind eye to their own rules for checking unfair competition." Dr Swati Dhingra, Senior Lecturer at the Department of Economics, London School of Economomics 'An impressive contribution to our understanding of the financial crisis. Dawar's reading of bailouts and buy national through the lens of competition law and government procurement law and policy is inspirational.' Professor Mary E Footer, University of Nottingham School of Law 'The diplomatic fiction that during the crisis years regional and global trade rules ensured a level commercial playing field is skewered by Dawar's trenchant legal analysis.' Professor Simon Evenett, University of St Gallen This book examines the international regulation of crises bailouts and buy national policies. It undertakes this research with specific reference to the crisis years 2008-2012. The book includes a comparative analysis of the regulation of public procurement and subsidies aid at both multilateral and regional levels, identifying the strengths and weakness in the WTO legal framework and selected regional trade agreements (RTAs). Ultimately, the aim of this work is to provide options for improving the consistency of these laws and the regulation of these markets. This is of immediate relevance for good economic governance, as well as for managing future systemic financial crises in the interests of citizens: as tax payers and consumers.

The Yearbook of International Sports Arbitration is the first academic publication aiming to offer comprehensive coverage, on a yearly basis, of the most recent and salient developments regarding international sports arbitration, through a combination of general articles and case notes. The present volume covers decisions rendered by the Court of arbitration for Sport (CAS) and national courts in 2016. It is a must-have for sports lawyers and arbitrators, as well as researchers engaged in this field. It provides in-depth articles on burning issues raised by international sports arbitration, and independent commentaries by esteemed academics and seasoned practitioners on the most important decisions of the year by the CAS and national courts. Dr. Antoine Duval is Senior Researcher for International and European Sports Law at the T.M.C. Asser Instituut in The Hague. He holds a Ph.D. on the interaction between Lex Sportiva and EU Law from the European University Institute in Florence. Prof. Antonio Rigozzi teaches international arbitration and sports law at the University of Neuchatel, Switzerland, and is the partner in charge of the sports arbitration practice at Levy Kaufmann-Kohler, a Geneva-based law firm specializing in international arbitration.

This book addresses the legal and contractual obligations of sea carriers regarding due care for the cargo under a contract of carriage. While the general framework employed is the leading international liability regime, the Hague-Visby Rules, the discussions in each chapter also account for the possible future adoption of a new regime, the Rotterdam Rules. The subject matter concerns the standard for the duty of care for goods as codified in the Hague-Visby Rules, but the work also touches upon a wide range of related topics found both in law and in practice, providing valuable commercial, technical and historical links as well as various solutions that have been found at the national and international level to address challenges arising in this specialised area of law. The book is divided into six chapters, which gradually reveal the complexity of the topic. Chapter 1 provides a thorough introduction to the two main transport documents in use, and to the basic logic behind shipping, sea-going trade and related national and international legislation. In turn, Chapter 2 presents an overview of the relevant provisions of the Hague-Visby Rules. Chapters 3, 4 and 5 examine the problems arising out of the insertion of a FIOS(T) clause in the contract of carriage; the carriage of goods on deck; and the carriage of goods in containers, respectively. Lastly, Chapter 6 provides an overall conclusion on the legal status quo and current practice, as well as future prospects. The book was written with a number of potential readers in mind and is intended to open up the topic to a broader audience. It is suitable both for readers who wish to advance their learning (e.g. professionals, practitioners and postgraduates) and for readers with little or no prior knowledge of the topic (e.g. students and researchers).

In return for the outstanding service rendered over many years by Frans Vanistendael, forty-five of the world's notable taxation experts have prepared a festschrift in his honour. As scholar, teacher, advisor, and administrator, Professor Vanistendael (now emeritus) has played a role of great importance in the growth of our knowledge of taxation, and particularly in the development of EC taxation law. Although discussion of the vital issues clustered around European taxation predominate in these thousand pages, many of the essays deal incisively with other areas of the field where Professor Vanistendael has left his mark, such as international tax systems, VAT theory, and cross-border tax arrangements. The authors include scholars, jurists, and leading taxation officials from a number of jurisdictions and international organisations, all of whom share gladly in this incomparable publishing venture. Their offering is a true tribute. In building on the foundations laid by Professor Vanistendael's many insights, these essays manifest the breadth of his scholarship and the depth of his commitment to the advancement of his chosen field. The result is a book that not only offers a stimulating, in-depth and useful insight into the many complexities, intricacies, and critical issues of taxation in today's world, but also opens the way for further elaborations of Frans Vanistendael's signal achievements.

Estlund and Wachter have assembled a feast on the economic analysis of issues in labor and employment law for scholars and policy-makers. The volume begins with foundational discussions of the economic analysis of the individual employment relationship and collective bargaining. It then progresses to discussions of the theoretical and empirical work on a wide range of important labor and employment law topics including: union organizing and employee choice, the impact of unions on firm and economic performance, the impact of unions on the enforcement of legal rights, just cause for dismissal, covenants not to compete and employment discrimination. Anyone who wants to study what economists have to say on these topics would do well to begin with this collection.' - Kenneth G. Dau-Schmidt, Indiana University Bloomington School of Law, USThis Research Handbook assembles the original work of leading legal and economic scholars, working in a variety of traditions and methodologies, on the economic analysis of labor and employment law. In addition to surveying the current state of the art on the economics of labor markets and employment relations, the volume's 16 chapters assess aspects of traditional labor law and union organizing, the law governing the employment contract and termination of employment, employment discrimination and other employer mandates, restrictions on employee mobility, and the forum and remedies for labor and employment claims. Comprising a variety of approaches, the Research Handbook on the Economics of Labor and Employment Law will appeal to legal scholars in labor and employment law, industrial relations scholars and labor economists. Contributors: R. Arnow-Richman, S. Deakin, Z.J. Eigen, R.A. Epstein, C.L. Estlund, S. Estreicher, B.T. Hirsch, A. Hyde, S. Issacharoff, C. Jolls, B.E. Kaufman, M.M. Kleiner, B.I. Sachs, E. Scharff, S.J. Schwab, M.L. Wachter, D. Weil

For years, businesses have complained about the costs of regulatory compliance. On the other hand, society is becoming increasingly aware of the environmental, safety, health, financial, and other risks of business activity. Government oversight seems to be one of the answers to safeguard against these risks. But how can we deregulate and regulate without jeopardizing our public goals or acting as a brake on economic growth? Many instruments are available to assess the effects of laws regulating business, including the regulatory impact assessment (RIA), which contains cost/benefit analysis, cost-effectiveness analysis, risk analysis, and cost assessments. This book argues that public goals will be achieved more effectively if compliance costs of the enterprises are as low as possible. Highlighting examples from a wide spectrum of industries and countries, the authors propose a new kind of RIA, the business impact assessment (BIA), designed to improve both business and public policy decision making.

This book offers an edited volume for all readers who wish to gain an in-depth grasp of the economic analysis of recent developments in energy law and policy in Europe and the United States. In response to waning resources and heightened environmental awareness, many countries are now seeking to redefine their energy mix. Several energy sources are available: coal and oil, natural gas, and a variety of renewables. Yet which of them are capable of addressing core energy-related concerns? Reliability, security, affordability, fairness, and sustainability all have to be taken into account. Further, once a target mix has been identified, two challenges remain for legal scholars: what role does the law play in achieving a specified energy mix, and, how can the law best fulfill that role? The essential energy concerns are just as important in defining the way we shape our energy mix as they are in defining the mix itself. An example of current challenges in energy law and policy can be seen in the pursuit by the German and Swiss governments of the so-called "Energiewende" (energy transition). These policies are intended to enable the transition from a non-sustainable use of fossil and nuclear energy to a more sustainable approach based on renewable energies. On the one hand, the goal is to achieve a decarbonization of the energy economy by reducing the use of fossil energy sources such as petroleum, carbon and natural gas. On the other, and in response to the Fukushima nuclear accident, a phase out is intended to eliminate the dangers of nuclear technologies. Achieving these goals poses tremendous challenges for the two countries' energy policies - partly because the energy transition will not only affect energy production, but also energy consumption. From a Law and Economics perspective, a number of questions arise: to what extent is it justifiable to rely on markets and continued technological innovation, especially with regard to the present exploitation of scarce resources? To what extent is it necessary for states to intervene in energy markets? Regulatory instruments are available to create and maintain more sustainable societies: command and control regulations, restraints, Pigovian taxes, emission certificates, nudging policies, and more. If regulation in a certain legal field is necessary, which policies and methods will most effectively spur the sustainable consumption and production of energy in order to protect the environment while mitigating any potential negative impacts on economic development? Do neoclassical and behavioural economics provide us with a suitable framework for predicting the market's complex reactions to a changing energy policy? This book provides theoretical insights as well as empirical findings in order to answer these vital questions.

Research on executive compensation has exploded in recent years, and this volume of specially commissioned essays brings the reader up-to-date on all of the latest developments in the field. Leading corporate governance scholars from a range of countries set out their views on four main areas of executive compensation: the history and theory of executive compensation, the structure of executive pay, corporate governance and executive compensation, and international perspectives on executive pay. The authors analyze the two dominant theoretical approaches - managerial power theory and optimal contracting theory - and examine their impact on executive pay levels and the practices of concentrated and dispersed share ownership in corporations. The effectiveness of government regulation of executive pay and international executive pay practices in Australia, the US, Europe, China, India and Japan are also discussed. A timely study of a controversial topic, this Handbook will be an essential resource for students, scholars and practitioners of law, finance, business, and accounting. Contributors: C. Amatucci, R. Bender, S. Bhagat, W. Bratton, S. Chahine, R. Chakrabarti, M.J. Conyon, G. Ferrarini, M. Firth, M. Goergen, B. Haar, L. He, M.T. Henderson, J.G. Hill, K. Kubo, T.Y. Leung, G. Loutzenhiser, M. Lubrano di Scorpaniello, J.A. McCahery, N. Moloney, K.J. Murphy, L. Oxelheim, L. Renneboog, R. Romano, O.M. Rui, Z. Sautner, K. Sheehan, K. Subramanian, R.S. Thomas, S. Thompson, G. Trojanowski, H. Wells, C. Wihlborg, J. Winter, P.K. Yadav, Y. Yadav, J. Zhang

In this era of late-modern capitalism the forces of internationalization and technological innovation are transforming both global and national economies. A key feature of these transformation processes is the increasing strategic economic, political and social importance of the financial services sector to nation states and trading blocs. The increasing size and volatility of the world's financial markets underline the importance of better understanding: how financial markets work; how they should be regulated; and the significance of the problem of white collar crime in the financial services sector. This text addresses these key questions through a synthesis of legal, historical and sociological approaches in its critique of financial services regulation. This strategy integrates perspectives based in structuration theory, censure theory, modernity theory and the literature on legitimacy in its analysis of the actors, structures and processes that construct regulation and deviancy in the financial services sector. Based on a detailed analysis of regulation in the UK, the book examines the global and national forces and processes which interact to produce systems of financial services regulation. The UK regulatory system is contrasted with those of other jurisdictions, in particular the US, demonstrating the role of national and cultural factors in shaping such systems. This work should be of specific interest to financial services professionals, corporate lawyers, regulators and academics.