Law Commons^™

Is A Ban On Non-Competes Supported By Empirical Evidence?, Sarah Oh Lam, Thomas Lenard, Scott Wallsten

Fordham Journal of Corporate & Financial Law

The U.S. Federal Trade Commission (FTC) has proposed a rule to declare virtually all non-compete agreements unfair methods of competition under Section 5 of the FTC Act and therefore, illegal. However, the empirical literature on non-compete agreements cited by the FTC in its Notice for Proposed Rulemaking (“NPRM”) shows mixed results on earnings, job creation, firm formation, entrepreneurship, training, investment, and firm value. Evidence in other current studies also does not support an economy-wide ban. The FTC concludes that the proposed rule would yield net benefits even though by its own admission it lacks the information necessary to conduct a …

The Impact Of Tax Incentives On Investment In Small Enterprises In Palestine, Rahma Odeh, Mofeed Thaher, Abdulnaser Nour

AAU Journal of Business and Law مجلة جامعة العين للأعمال والقانون

The study aimed to measure the impact of tax incentives on investment in small enterprises in Palestine. The study identified the tax incentives that affect Palestinian investments which were stipulated in the Palestinian Income Tax Law number (8) of the year 2011 which was amended according to the Decree number (5) for the year (2015), as well as the Investment Promotion Law (1) for the year (1998) and its subsequent amendments, and among these incentives (tax incentives related to family exemptions, incentives related to tax brackets, incentives related to tax deductions, incentives related to expanding the tax base exemptions, incentives …

Uganda Invest In Foreign Markets: Uganda As A Case Study, Morgan T. Lynch

The Journal of Business, Entrepreneurship & the Law

No abstract provided.

The Promised Land Is On The Horizon: The Fix Crowdfunding Act Will Implement Small Changes That Could Make A Big Impact On Investors And Businesses Alike, Michaela Smith

The Journal of Business, Entrepreneurship & the Law

No abstract provided.

Entire Fairness: A Call To Preserve Delaware Doctrine, Lisa Bei Li

The Journal of Business, Entrepreneurship & the Law

Appraisal arbitrage is on the rise. Institutional investors—namely, hedge funds—buy into target companies after their merger announcements and bet on the price. By purposely taking a minority position, these funds proceed to courts to obtain what they otherwise could not in the market: a “fair value.” Where there is no allegation of wrongdoing or injury, these plaintiffs nonetheless successfully divert deal value away from business combinations. Based on a misunderstood statute, appraisal arbitrage has exploded into a multi-billion dollar industry for large fund investors. In June 2016, amid growing concerns, the Delaware General Assembly amended section 262, Delaware’s appraisal statute. …

Finding A Financial Planner, Emily G. Brown Jd

Pension Action Center Publications

This fact sheet provides information on how to find the right financial planner to help you meet your retirement planning goals. This fact sheet suggests things to consider prior to picking a financial planner and answers questions like:

• What do financial planners do?
• How do you know if you need a financial planner?
• How do you find the right financial planner?
• What type of professional title does a financial planner have?

Slides: The Colorado River: Innovation In The Face Of Scarcity, Anne J. Castle

Innovations in Managing Western Water: New Approaches for Balancing Environmental, Social and Economic Outcomes (Martz Summer Conference, June 11-12)

Presenter: Anne J. Castle, Stanford Woods Institute for the Environment

40 slides

Your Former Employer’S 401(K) Plan, Jeanne Medeiros Jd

Pension Action Center Publications

When you leave a job where you have participated in a 401(k) plan, you may have a number of different options about what to do with the money in that account. This fact sheet explains those options and offers guidance about the pros and cons of each option.

Here are some frequently asked questions answered in this face sheet:

Q. Can I leave my money in my former employer’s plan?

Q. What are my other options?

Q. If I decide to withdraw the account balance from my former employer’s plan, how do I do that, and how long should it …

Hardship Withdrawals And Loans: Some Words Of Caution, Emily G. Brown Jd, Jeanne Medeiros Jd, Ellen Bruce Jd

Pension Action Center Publications

As defined benefit pension plans become more and more rare, the responsibility of saving for retirement falls increasingly on individuals. Many studies have been published about the average or median balances in retirement savings accounts and virtually all of them have reached the same conclusion - most Americans aren’t saving enough money to last them through their retirement years.

In this fact sheet we will take a look at one of the factors that contributes to this problem, that is, the availability of loans and hardship withdrawals from 401(k) retirement accounts, which can lead to lower account balances overall. Sometimes, …

Understanding The Differences Between Defined Benefit Pension And Defined Contribution, Emily G. Brown Jd, Jeanne Medeiros Jd

Pension Action Center Publications

In recent years, more and more employers are offering employees defined contribution plans instead of defined benefit plans. Although, there has been a shift away from the defined benefit pension plan, it is important for employees to understand the difference and value of both pension plans.

Each type of pension plan has both advantages and disadvantages. What may appear as an advantage to one person might seem to be a disadvantage to another person. For example, a person who spends all or most of her career with a single employer will have very different concerns from someone who changes jobs …

Understanding The Specialized Language Of Retirement Plans, Emily G. Brown Jd, Jeanne Medeiros Jd

Pension Action Center Publications

Whether you are a participant in a defined benefit plan or a defined contribution plan, the realm of pension benefits can be tricky and confusing to navigate. Some of the terminology used might be unfamiliar to the average person. This glossary of common terms associated with retirement plans is meant to serve as a helpful resource for plan participants.

U.S. Vs. European Broadband Deployment: What Do The Data Say?, Christopher S. Yoo

All Faculty Scholarship

As the Internet becomes more important to the everyday lives of people around the world, commentators have tried to identify the best policies increasing the deployment and adoption of high-speed broadband technologies. Some claim that the European model of service-based competition, induced by telephone-style regulation, has outperformed the facilities-based competition underlying the US approach to promoting broadband deployment. The mapping studies conducted by the US and the EU for 2011 and 2012 reveal that the US led the EU in many broadband metrics.

• High-Speed Access: A far greater percentage of US households had access to Next Generation Access (NGA) …

Assessing Risk, Liability And Asset Management Investments Among U.S. And Foreign Banks: Bank Of America, Wells Fargo, And Wachovia, Valencia Tamir Johnson Dr.

Valencia T Johnson

In recent years, banks have had a positive and negative impact on assessing risk, liability and asset management from other competitors such as Bank of America, Wells Fargo and Wachovia. There have been many recent discussions about the U.S. and International banking management and investments. The Federal Reserve and the U.S. Exchange Commission are finding ways to evaluate the negative and positive behaviors exhibited by other financial institutions, which has an impact on the global economy, and in regards to financial management and investments. This article explains the important of assessing the risk and compliance management in financial banking and …

Does Financial Market Development Explain (Or At Least Predict) The Demand For Wealth Management And Private Banking Services In Developing Markets?, Bryane Michael, Christopher Hartwell, Gary Ho

Bryane Michael (bryane.michael@stcatz.ox.ac.uk)

How should wealth managers and private bankers find and serve the wealthy – particularly in developing countries? Several banks and consulting firms provide market sizing estimates for the number of high net worth and ultra-high net worth individuals. However, it is still an open question whether financial management services actually create wealth (or increase the number of wealthy persons). How can financial advisors know if, on a macro-level, their service offerings grow their collective assets under management and increase their prospect numbers? In this paper, we find evidence that advanced wealth management and private banking services might help grow a …

Chinese Casino Gambling Behaviors: Risk Taking In Casinos Vs. Abstract Investments, Bernadete Ozorio, Davis Ka-Chio Fong

UNLV Gaming Research & Review Journal

Capitalizing on the recent developments in casino gambling in Macao and the dominance of Chinese gambling at Macao casinos, the purpose of this research was to study how Chinese behaved in gambling and how these behaviors related to another risk taking activity, investment, which has been documented to be in a different risk taking domain from gambling. A survey was carried out in Macao with casino gamblers as the target respondents. In addition to socio-economic data, each respondent was asked about the extent of his gambling involvement and his responses to some standardized investment decision making situations. Bet-to-income ratio was …

Agenda: 2012 Energy Justice Conference And Technology Exposition, University Of Colorado Boulder. Center For Energy & Environmental Security, University Of Colorado Boulder. Colorado European Union Center Of Excellence, University Of Colorado Boulder. Presidents Leadership Institute

2012 Energy Justice Conference and Technology Exposition (September 17-18)

Co-sponsored with the Colorado European Union Center of Excellence and the Presidents Leadership Institute at the University of Colorado Boulder.

The ability to harness energy is fundamental to economic and social development. Worldwide, almost 3 billion people have little or no access to beneficial energy resources for cooking, heating, water sanitation, illumination, transportation, or basic mechanical needs. Energy poverty exacerbates ill health and economic hardship, and reduces educational opportunities, particularly for women and children. Specifically, access to efficient and affordable energy services is a prerequisite for achieving the Millennium Development Goal (MDG) relating to poverty eradication.

In response, the UN …

Private Equity Investment In The Brics, Andreas Woeller

Fordham Journal of Corporate & Financial Law

This Article investigates the legal and economic environment for private equity investments in Brazil, Russia, India and China (“BRIC”). In contrast with disappointing returns in the 1990s, private equity investment has soared in developing countries over the past decade. To explain what has led to the recent success of private equity in the BRICs, this Article will first give an overview of the challenges faced generally when investing in portfolio companies in developing markets and then analyze the legal and economic framework for each of the four BRICs. This Article finds that Brazil and China offer the best opportunities for …

The Middle Eastern Wealth Management Industry: Boon Or Bust?, Bryane Michael

Bryane Michael (bryane.michael@stcatz.ox.ac.uk)

The wealth management industry in the Middle East and North Africa (MENA) represents a roughly $800 billion opportunity. Yet, tapping this opportunity will require new strategies by the wirehouses looking to penetrate into this market. In this paper, we argue that Middle-Eastern policymakers and bankers will need to develop an indigenous wealth management industry which keeps the super-wealthy’s investments at home. Developing a local national wealth management industry requires letting in foreign competition, changing banking and securities laws, and growing local companies whose share are worth buying. We show why Turkey has succeeded in growing a nationally and internationally competitive …

The Unjustified Subsidy: Sovereign Wealth Funds The Foreign Sovereign Tax Exemption, Jennifer Bird-Pollan

Fordham Journal of Corporate & Financial Law

The taxation of Sovereign Wealth Funds in the United States is outmoded and due for reconsideration. Offering a tax exemption to the billion dollar investment funds owned by foreign governments is both unfair and ineffective. Founded in the principles of sovereign immunity, the foreign sovereign tax exemption, codified in I.R.C. § 892, fails to satisfy the Congressional goals that motivated its creation. This Article explains the current taxation of foreign sovereigns and, by extension, Sovereign Wealth Funds. It then illustrates that the current exemption is simultaneously too broad, providing a tax exemption for activities that are clearly nongovernmental activities, and …

Whither Turkish Capitalism?, Bryane Michael

Bryane Michael (bryane.michael@stcatz.ox.ac.uk)

Turkish families will likely cede their controlling interests in Turkey’s dominant holding companies in the upcoming decades as Wall Street clamours for a greater share of developing world profits and families enjoy the fruits of their oligopolistic labours.

Has The Time For Large Gaming Property Involved Reits Finally Arrived?: A Review Of The Potential For Reit Investment In Destination Gaming Resort Properties, Simon Johnson

UNLV Gaming Law Journal

Destination gaming resorts demand massive amounts of capital in order to fund their investment in real property, much of which comprises areas where they realize predominantly passive business, including the hotel tower. Consequently, they generate substantial income from passive business, such as fees for hotel occupancy, even as most of their income is attributable to active business, such as gaming and personal services. Because they blend separable passive and active real property, a REIT can theoretically acquire all or some of the real property, realizing income under an operator lease with a substantially unrelated gaming or hotel lessee. Alternatively, a …

Slides: Adapting To Climate Change: Lessons Learnt From The Australian Water Experience, Will Fargher

Conversation with Water Management Reps from Colorado and Australia: "Adapting to Climate Change: Lessons Learned from Australia" (February 14)

Presenter: Will Fargher, National Water Commission, Australian Government

18 slides [4 have titles only and are missing images]

Law For Foreign Business And Investment In China, Vai Lo, Xiaowen Tian

Xiaowen Tian

In trying to establish a presence in China, foreign investors have found it imperative to understand the regulatory environment of this potentially huge market. This book provides an up-to-date overview of the legal framework for doing business in China. It covers such topics as state structure; legislative amendments and enactments on direct foreign investment; the court system; the legal profession; business entities; foreign investment enterprises; contracts; intellectual property; labor and employment; consumer protection; taxation; securities; and dispute resolution.Apart from explaining legal principles, the book highlights liberalisation measures that China has undertaken to fulfil its WTO commitments; elucidates complicated legal concepts …

Foreign Under-Investment In Us Securities And The Role Of Relational Capital, Bryane Michael

Bryane Michael (bryane.michael@stcatz.ox.ac.uk)

Over 70 academic papers attempt to explain why foreigners invest in US securities. All ignore the vital role of the US broker-dealer. Macroeconomic factors like a trade balance or corporate governance may guide foreign investors toward certain markets. But US broker-dealers provide information to foreign investors and execute the actual trades. We hypothesize that particular foreign investors under-invest in US securities because of a lack of relational capital with US broker-dealers. We find that broker-dealer marketing intensity in foreign markets partly explains foreigners’ decisions to invest in US securities. We also estimate “pent-up” demand for US securities in developing countries …