Law Commons^™

Esg, Sustainability Disclosure, And Institutional Investor Stewardship, Giovanni Strampelli

Washington and Lee Law Review Online

This Article sheds new light on the link between sustainability disclosure and institutional investors’ stewardship activities aimed at promoting improvements in the ESG performance of investee companies. On the one hand, sustainability disclosure is one of the information elements that may be relevant to institutional investors’ stewardship activities. On the other hand, improving the quality of sustainability reports provided by investee companies is often the ultimate goal of investor engagement initiatives. The role of climate and social disclosure is problematic from both perspectives. First, institutional investors, especially those with broadly diversified portfolios, are unable to use sustainability information directly and …

We(Ed) Hold These Truths To Be Self Evident: All Things Cannabis Are Inequitable, Garrett I. Halydier

University of Massachusetts Law Review

Current approaches to social equity in the cannabis industry continue to fail to promote racial equity while simultaneously exacerbating gender, environmental, and other inequities. To better understand the structural dynamics underlying this phenomenon, I first present a multi-disciplinary recounting of not only the racial inequities, but also the stigma, business, research, energy, sex and gender, hemp, and international inequities of the War on Drugs. This serves as the foundation for a compilation of the structural and theoretical reasons for how current social equity policies, whether targeting the cannabis industry, community reinvestment, social justice, or access equity, will only continue to …

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 …

A Canadian Perspective On Fifty Years Of International Economic Law, J. Anthony Van Duzer

Dalhousie Law Journal

In 1970, “international economic law” (IEL) was not a distinct academic subject. Fifty years later, IEL has become an important and well-recognized field of legal enquiry, though its boundaries remain unclear. Globalization of trade and investment activity and the concomitant proliferation of trade and investment treaties over the last 50 years have been key drivers of academic interest in IEL and its transformation. The impacts of trade and investment on the protection of the environment and health, Indigenous, labour, and human rights, development, and other policy priorities have become significant subjects of academic discourse and are increasingly addressed in trade …

The Power Of The Purse: Instigating Social Change Through Strategic Municipal Bond Investments, Jenna Reifler

University of Miami Business Law Review

Municipal bonds are generally understood as mutually beneficial for both issuer and holder—they allow cities to secure capital for local improvements and investors to earn reliable and tax-exempt profits. It turns out, however, that the lack of disclosure for issuing general obligation bonds presents the perfect camouflage for cities to secure funding despite their local social responsibility inadequacies.

Cities quietly shell out millions of dollars in settlements to the victims of police-misconduct. Largely unreported and untracked, many municipalities fund such settlements through general obligation bonds, which are colloquially termed police brutality bonds. As a result, and often unbeknownst to the …

Neither A Borrower Nor A Lender Be: Analyzing The Sec’S Reaction To Crypto Lending, Carol R. Goforth

University of Massachusetts Law Review

In June 2021, the largest U.S.-based crypto exchange, Coinbase, announced plans to allow its customers to earn 4% interest on deposits of certain cryptoassets through a new “Coinbase Lend” program. Despite a positive reaction from its customers, on September 7, 2021, Coinbase announced it had received a notice from the Securities and Exchange Commission (SEC) to the effect that the Commission had preliminarily concluded that the proposed Lend program was a security and that Coinbase would be in violation of the federal securities laws if it proceeded. The threat of enforcement caused Coinbase to terminate the program. Shortly thereafter, in …

Percepatan Pelayanan Perizinan Berusaha Dalam Rangka Potensi Peningkatan Investasi Sektor Sumber Daya Alam: Pertanian, Farid Anfasa

"Dharmasisya” Jurnal Program Magister Hukum FHUI

This research discusses about licensing is a policy instrument of the government to control negative externalities that may be caused by social or economic activities. License is also an instrument for legal protection for the ownership or operation of activities. The Acceleration of Business Licensing Services in Indonesia is still far from ideal as expected by business people. Seeing this fact, there is a need to change the service paradigm, especially investment licensing services, so that investment licensing procedures can be created that can be categorized as cheap, fast and clear in accordance with predetermined public service standards. Therefore the …

Mengkaji Kepastian Hukum Dan Perlindungan Hukum Terhadap Investasi Di Indonesia Melalui Lembaga Perizinan Online Single Submission (Oss), Eldbert Christanto Anaya Marbun

"Dharmasisya” Jurnal Program Magister Hukum FHUI

To drive the national economy, investment is one of the main driving factors that the Government of Indonesia continues to maintain and grow. Various efforts have been made by the Government so that investment can flow rapidly into Indonesia, both PMA and PMDN. One of these efforts is to build a new electronic-based licensing system. Based on Government Regulation Number 24 of 2018 concerning Electronically Integrated Business Licensing Services or often referred to as OSS, licensing services are made easier. Through the OSS system, licensing for undertaking and investing is simplified. The bureaucracy and lengthy licensing requirements that have been …

Studi Kasus Tindak Pidana Pasar Modal Pada Pt Reliance Securities, Tbk Dan Pt Magnus Capital, Vicky Prayitno

"Dharmasisya” Jurnal Program Magister Hukum FHUI

Capital market is one of the national development tools that nowdays has growed rapidly and its existence has become one of the financing alternatives in national development. The runs of the capital market can not be seperated from its possiblities of criminal act that harm the investor and society. Capital market crime’s character is well-organised and involving certain parties like other white collar crimes, therefore the resolution and responsibility is also terribly complex since the case involves those related parties in that crime. One of the enticing violations in the capital market was a fraud case committed by Larasati (one …

Implication Of Regional Tax Regulation For The Investment Climate And Its Relation With Omnibus Bill On Taxation, Debora Kristina Doloksaribu

"Dharmasisya” Jurnal Program Magister Hukum FHUI

The granting of autonomy to the regions is intended to provide democratic space and public participation. Legal certainty in the administration of regional government specifically related to taxes is very crucial, specifically for economic development, as it affects the investment climate. Any discrepancy between regional and central policies is seen as an obstacle in optimizing investment performance in the regions. The Government has proposed a Bill on General Provisions and Tax Facilities for Strengthening the Economy or also known as the Omnibus Bill on Taxation which regulates, among other things, regional tax and regional levy. One of principal arrangements in …

Pemanfaatan Dan Perlindungan Hukum Terhadap Sumber Daya Air Dalam Perspektif Investasi Dan Kesejahteraan, Arindita Pratiwi

"Dharmasisya” Jurnal Program Magister Hukum FHUI

As a natural resource that can be renewed and is an unlimited energy, water has an important role in meeting the daily needs of humans and other living things, without water there would be no life. The presence of the state in managing water resources for the greatest welfare of the people is a manifestation of the state's control over water resources as mandated by Article 33 paragraph (3) of the 1945 Constitution of the Republic of Indonesia and is the state's obligation to fulfill the people's rights to water. In fulfilling the need for clean water for all its …

Attack On The Spac: The Push To Regulate Special Purpose Acquisition Companies As Investment Companies Under The Investment Company Act, Sean Meyer

University of Cincinnati Law Review

No abstract provided.

The Dispute Settlement System Of Investment In The Asean Comprehensive Investment Agreement (Acia) Framework And The Implications For Indonesia, Delfiyanti Delfiyanti

Indonesian Journal of International Law

In order to implement the ASEAN single market on free flow of investment in the region, the delegations of ASEAN member states signed the ASEAN Comprehensive Investment Agreement (ACIA) on February 26th, 2009 in Cha-am, Thailand. Based on Article 1 (a) and Article 2 of the ACIA Agreement on the objectives of ACIA formation; the legal arrangements for foreign direct investment in this Agreement adhere to an investment regime—“a Free and Open Investment Regime” to achieve the ultimate purpose of economic integration in the ASEAN Economic Community. By implication of the Agreement, Indonesia should attempt to complement the investment legal …

Here To Stay: Wrestling With The Future Of The Quickly Maturing Spac Market, Matthew Diller, Rick Fleming, Stephen Fraidin, Aj Harris, Gregory F. Laufer, Mark Lebovitch, Gregg A. Noel, Hester M. Peirce, Usha R. Rodrigues, Mike Stegemoller, Verity Winship, Douglas Ellenoff

Fordham Journal of Corporate & Financial Law

No abstract provided.

Private Equity And Venture Capital In Germany: How Europe’S Heartland Is Poised To Become The Next Bay Area, Jake Besanceney

Northwestern Journal of International Law & Business

Abstract

This note examines the current state of private equity and venture capital activity and investment in Germany, and specifically in Berlin, in relation to the state of such activity and investment that existed in the San Francisco Bay Area prior to and following its tech explosion in the late twentieth century. Numerous factors such as political and ethnic diversity, a comparatively lower cost of living, and proximity to higher education institutes are propelling Berlin’s startup and tech scenes, and are eerily reminiscent of similar factors that fueled the Bay Area’s growth and attracted private equity and venture capital activity …

Implikasi Mengenai Pencabutan Peraturan Menteri Dalam Negeri Nomor 27 Tahun 2009 Tentang Pedoman Penetapan Izin Gangguan Di Daerah Sebagaimana Telah Diubah Dengan Peraturan Menteri Dalam Negeri Nomor 22 Tahun 2016 Terhadap Peraturan Daerah Provinsi Dki Jakarta Nomor 15 Tahun 2011 Tentang Perizinan Tempat Usaha Berdasarkan Undang-Undang Gangguan

"Dharmasisya” Jurnal Program Magister Hukum FHUI

On March 29 2017, the Government issued a regulation of the Minister of Home Affairs of Republic of Indonesia Number 19 of 2017 concerning the revocation of regulation of the Minister of Home Affairs Number 27 of 2009 about the Guidelines for Determination of Disturbance Permit in Regions that were approved as amended by Minister of Home Affairs Regulation Number 27 of 2009 about Guidelines Establishment of Disturbance Permit in the Regions. The Government assesses that regulation of the Minister of Home Affairs Number 27 of 2009 on the guidelines for the Establishment of Disturbance Permit in the Region is …

Capitalization Of The Global Green Economy: An Analysis Of South Carolina's Current Foreign Direct Investment Efforts And Suggestions For Continued Sustainability, William E. Hilger

South Carolina Law Review

No abstract provided.

منظومة النقل الجماعي بأكادير الكبير بين الوضعية القانونية -التنظيمية وواقع الممارسة: نحو استشراف مخطط جديد للنقل نموذج سيارات الأجرة الكبيرة والتدبير المفوض, Mohamed Ben Attou

Dirassat

The belief in the importance of the mass transport system within Agadir is one of the most important things that we should be concerned with and be keen on. If we can look into making this environment, whether in the medium or long term, with the help of a number of investments that move its administrative and industrial tributaries, then we are at the core of development that attain the conditions of stability. The articlesought to acquaint the reader with a set of vivid documented information, including the development of licenses granted to taxis which were supposed to have a …

Suspicions Of Those Who Permit The Issue Of Investment Certificates An Exposition And Discussionشبه المبيحين لشهادات الاستثمار, Professor Mahamod Ahmed Abu Leil

UAEU Law Journal

The study deals with the suspicion s relied upon by those who admit the issue of investment certificates. The suspicions are: I - Plea of interest: an argument which cannot be accepted because the interest is considered to be a plea only if we are short of a text, while usury is prohibited by conclusive texts. 2 - Plea of prevailing custom: a weak argument too because a reck­oned custom is that which has been prevailing at the time of the descent of The Qur'an . A contingent custom at variance with a le­gal text cannot be relied upon. 3 …

Crisis, Continuity, And Change In International Investment Law And Arbitration, Valentina Vadi

Michigan Journal of International Law

The dialectic between continuity and change lies at the heart of international law, which seeks to foster peaceful, just, and prosperous relations among nations. International law endeavors to govern the future by applying, in the present, norms that are inherited from the past. Nonetheless, everything flows and in an ever-changing world, some change is needed within the international legal system to ensure its stability especially in time of crisis. Not only can crises constitute means for the development of international law, but they can test, undermine or ultimately buttress the structure of international law. This article explores the connection between …

Against Balancing: Revisiting The Use/Regulation Distinction To Reform Liability And Compensation Under Investment Treaties, Jonathan Bonnitcha, Emma Aisbett

Michigan Journal of International Law

Investment treaties generate mutual benefits for host states and foreign investors to the extent that they discipline opportunistic conduct by host states. Investment treaties do not necessarily generate mutual benefits insofar as they constrain states’ ability to respond to new information or to change their policy priorities. In a companion paper, we use the tools of law and economics to formalize and clarify the relationship between problems of opportunism on the one hand, and new information and shifts in policy priorities on the other. On this basis, we develop a proposal to reform the legal principles that govern liability and …

Kepastian Hukum Pengelolaan Sektor Hulu Migas Dengan Kontrak Bagi Hasil Split Yang Bersifat Lintas Sektor Dan Implementasinya Terhadap Pertumbuhan Investasi Disektor Hulu Migas, Bunga Nostalgi

"Dharmasisya” Jurnal Program Magister Hukum FHUI

In early 2017, Indonesia establish anew form of Production Sharing Contract (PSC). fromPSC cost recovery to PSC gros split. PSC gross split is expected to be a solution to thedecline upstream oil and gas investment level, and to increase state revenues. ThroughESDM Regulation No. 8/2017 PSC gross split was applied. The basic term by PSC grosssplit are there’s no cost recovery, base split, component variable and component progresifas a compliance of profit sharing adjustments, self procurement by the contractor withoutSKK Migas approval, and Plan Of Development (POD) approval less than one month.This study aims to determine the legal certainty in …

Contracting With Self Under The Agency's Investment Product: A Comparative And Applied Study Based On The Kuwaiti Law, Ali Ibrahim Al-Rashed

UAEU Law Journal

The investment product, with the right to contract with one’s self, is considered one of many products that spread amongst the Islamic financial institutions. In the past, this subject was a matter of controversy between scholars. Nevertheless contemporary jurists do not contest the legality of the product. The study addresses this issue with in-depth research and details in terms of legitimacy and with what was observed by the Kuwaiti Law. The study consists of the following sections:

Section I: the rule of contracting with self from the sharia perspective.

Section II: the rule of contracting with self from the legal …

The Means Of Settling Disputes In The Securities Market: A Comparative Study, Dr. Yasser Bassem Al-Sabawi

UAEU Law Journal

time being, one of the most important types of investments and the most important funding source for States. For the purpose of protecting investment and investors at the same time from the damage that may have been occurred as a result of speculation unlawful acts committed by speculators in the money market, the legislator has prohibited in most of the countries that organize this investment dealing with stock markets, only through the intermediary companies and they are joint stock companies called listed securities. The perception is that disputes may rise between the client and this type of companies, so it …

How To Sue An Asue? Closing The Racial Wealth Gap Through The Transplantation Of A Cultural Institution, Cyril A.L. Heron

Michigan Journal of Race and Law

Asues, academically known as Rotating Savings and Credit Associations (or ROSCAs for short), are informal cultural institutions that are prominent in developing countries across the globe. Their utilization in those countries provide rural and ostracized communities with a means to save money and invest in the community simultaneously. Adoption of the asue into the United States could serve as the foundation by which to close the racial wealth gap. Notwithstanding the benefits, wholesale adoption of any asue model runs the risk of cultural rejection because the institution is foreign to the African American community.

Drawing upon principles of cultural and …

Mining In Guatemala: Human Rights And Investment Treaty Arbitration, Valentina Capotosto

Human Rights Brief

No abstract provided.

Chinese Resource-For-Infrastructure (Rfi) Investments In Sub-Saharan Africa And The Future Of The "Rules-Based" Framework For Sovereign Finance: The Sicomines Case Study, Jingwei Xu

Michigan Journal of International Law

China has emerged as sub-Saharan Africa’s largest development financier over the past two decades. While commentators have observed novel, sui generis transactional structures in China’s financing arrangements, legal analysis of those contractual forms and their relationships to incumbent international economic governance regimes remains scant. This note addresses those scholarly lacunae, taking as its case study the 2008 Sicomines Agreement—a multi-billion USD investment financing agreement between the Democratic Republic of the Congo and various Chinese corporate entities that merges infrastructure investment with a mineral extraction joint-venture project. It demonstrates that the Sicomines Agreement selectively draws on and integrates pre-existing modes of …

The Siren Song Of Litigation Funding, J.B. Heaton

Michigan Business & Entrepreneurial Law Review

For an investor, litigation funding is too tempting to resist. Litigation funding promises that most elusive of investment returns: those uncorrelated with an investor’s other investment returns. Litigation funding also invests in a world that seems fraught with possible pricing inefficiencies. It seems plausible—even likely—that a team of smart lawyer-underwriters can identify high-value litigation investments to generate superior returns for litigation funding investors. But more than a decade of experience suggests the promise of litigation funding is a siren song. The promise draws investors into the water, but the payoffs may be meager and rare. While litigation funding has always …

Drawing The Line: Can Lawyers Invest In Their Client's Business Without Crossing An Ethical Line?, Ali Ghassemi

The Journal of Business, Entrepreneurship & the Law

I will begin with a look inside the history of entrepreneurship and its rise and decline throughout various times in our country’s history. I will then shift the focus towards the history of startup companies and what the modern trend is today in startups. After laying the foundation for startups, I will look into the complexities of creating a startup company and looking at the role that attorneys play in the lifetime of startups. From there, I will dive into the history and trend of lawyers who have invested in their client’s companies - through direct investment or bartering by …