Business Commons^™

Abandoning Copyright, David Fagundes, Aaron Perzanowski

Faculty Articles

For nearly two hundred years, U.S. copyright law has assumed that owners may voluntarily abandon their rights in a work. But scholars have largely ignored copyright abandonment, and case law on the subject is fragmented and inconsistent. As a result, abandonment remains poorly theorized, owners can avail themselves of no reliable mechanism to abandon their works, and the practice remains rare. This Article seeks to bring copyright abandonment out of the shadows, showing that it is a doctrine rich in conceptual, normative, and practical significance. Unlike abandonment of real and chattel property, which imposes significant public costs in exchange for …

Notice Risk And Registered Agency, Andrew K. Jennings

Faculty Articles

To sue a firm is to sue an artificial person, making the most reliable service method—physically handing papers to the defendant—unusable. This problem illustrates notice risk: if a plaintiff’s service obligations are loose, it is advantaged (because the defendant may never receive notice), whereas if they are strict, the defendant is advantaged (because the plaintiff may struggle to effect service). For litigation involving corporate defendants, civil procedure and corporate law mitigate this problem through a technology for managing notice risk: registered agency. A firm using this technology, because it cannot be served directly, appoints an agent who will accept papers …

Newman/Martoma: The Insider Trading Law's Impasse And The Promise Of Congressional Action, Tai H. Park

Fordham Journal of Corporate & Financial Law

The prohibition against insider trading is a judge-made law that has evolved for over fifty years, and has reached a critical impasse in two recent decisions in the Second Circuit Court of Appeals: United States v. Newman and United States v. Martoma. Judges of the Second Circuit are sharply divided over what conduct constitutes improper trading on material nonpublic information (“MNPI”), leaving the law in profound disarray. At bottom, the disagreement stems from a decades-old split within the judiciary about how to (1) ensure a fair securities marketplace, while (2) enabling institutional analysts to probe for corporate information in furtherance …

Multilateral Transparency For Security Markets Through Dlt, David C. Donald, Mahdi H. Miraz

Fordham Journal of Corporate & Financial Law

For decades, changing technology and policy choices have worked to fragment securities markets, rendering them so dark that neither ownership nor real-time price of securities are generally visible to all parties multilaterally. The policies in the U.S. National Market System and the EU Market in Financial Instruments Directive— together with universal adoption of the indirect holding system— have pushed Western securities markets into a corner from which escape to full transparency has seemed either impossible or prohibitively expensive. Although the reader has a right to skepticism given the exaggerated promises surrounding blockchain in recent years, we demonstrate in this paper …

The Layers Of Digital Financial Innovation: Charting A Regulatory Response, Teresa Rodriguez De Las Heras Ballell

Fordham Journal of Corporate & Financial Law

The increasing penetration of digital technologies in financial markets is evidenced by promising adoption rates among users, expanding presence of fintech firms and bigtech providing techfin services, and the growing use of fintech solutions by incumbents. The increasingly popular term "fintech" captures the accelerated transformation of contemporary financial markets driven and enabled by technology, and encapsulates its multifarious potential impact on services, market structures, and business models. This Article first aims to devise and propose an analytical framework to understand the digital challenges to financial regulation based on the "layers of digital financial innovation" theory. Accordingly, digital innovation (fintech) is …

Three Essays On Entry Barriers And Incentives In Labor Markets, Samuel Ingram

Theses and Dissertations--Economics

Occupational choice at the margin depends on both the incentives for entry and barriers to entry. The primary entry barrier determined by regulation is an occupational license. These are government laws determining the minimum qualifications to enter an occupation including education, testing, fees, and background checks. These regulations are currently enforced on 25% of the US labor market. The laws are crafted to protect consumers from unsafe goods and services but also have important consequences in labor market outcomes. The consequences may include fewer workers entering the profession, changes to which workers enter the profession, and altering competition, all of …

Superseding Money Judgments In Texas: Four Proposed Reforms To Help The Business Litigant And To Further Improve The Texas Civil Justice System, James Holmes

St. Mary's Law Journal

Abstract forthcoming.

Disruptive Innovation Within The Legal Services Ecosystem, Donald G. Billings, Douglas G. Campbell

International Journal of Applied Management and Technology

Many law firms have done little to address the opportunities and threats presented by potentially disruptive technology (DT), such as artificial intelligence (AI) and machine learning (ML). The purpose of this multiple case study was to explore strategies that some law firm leaders use to address the potentially detrimental influences of DT on their organizations. The systems approach to management was employed as the conceptual framework. Data were collected from 6 participants at 2 international law firms with offices in California, using semi-structured interviews and organizational artifacts. Data were analyzed using inductive and deductive coding and thematic analysis, resulting in …

The Macroeconomic Factors Affecting Government Bond Yield In Indonesia, Malaysia, Thailand, And The Philippines, Benny Budiawan Tjandrasa, Hotlan Siagian, Ferry Jie

Research outputs 2014 to 2021

© The author(s) 2020. This publication is an open access article. © Benny Budiawan Tjandrasa, Hotlan Siagian, Ferry Jie, 2020 The government bond (GB) has become the most attractive investment portfolio option, even though many macroeconomic factors affect the bond yield. This paper aims to investigate the determining factor of local currency government bond yield by considering the inflation rate, credit default swap, stock market index, exchange rate, and volatility index. This study used 240 data panel from the Bloomberg stock market in the form of data panel covering Southeast developing countries, namely Indonesia, Thailand, Malaysia, and the Philippines, for …

The Influence Of The Chinese Government's Political Ideology In The Field Of Corporate Environmental Reporting, Hui Situ, Carol Tilt, Pi-Shen Seet

Research outputs 2014 to 2021

© 2020, Hui Situ, Carol Tilt, Pi-Shen Seet. Purpose: In a state capitalist country such as China, an important influence on company reporting is the government, which can influence company decision-making. The nature and impact of how the Chinese government uses its symbolic power to promote corporate environmental reporting (CER) have been under-studied, and therefore, this paper aims to address this gap in the literature by investigating the various strategies the Chinese government uses to influence CER and how political ideology plays a key role. Design/methodology/approach: This study uses discourse analysis to examine the annual reports and corporate social responsibility …

Weight Stigma In Different Aspects Of Life, Emanuel Noyola

Capstone Showcase

Weight stigma is discrimination or bias against any individual who is perceived to be overweight or obese. It has recently been recorded that the effects of weight discrimination have an influence on three major areas of life which include schools, the workplace, and personal relationships. This is important as weight discrimination was found to mostly have negative effects in all these areas but was also found to be sometimes beneficial in others, such as retail. Past research has also shown that the effects of weight discrimination are 37 times worse among obese females compared to obese males. One alarming setting …

How Access To Finances Affects Gender Inequality Across Cultures, Allison Muntin

Williams Honors College, Honors Research Projects

While many studies of financial inclusion have been undertaken, very few discuss the inclusion of women. Financial inclusion plays a large role in unlocking resources for the disadvantaged, resulting in higher economic growth and development. The economic opportunity allows individuals and businesses to have a greater contribution to society as a whole, enhancing all aspects of the economy. This paper furthers the conversation of women’s access to financial institution accounts across cultures and what underlying factors play a key role. The results indicate that the female demographic has fewer financial institution accounts in comparison to men when: (i) a country’s …

A Brand New Narrative: Social Attitudes Toward Conflict Resolution And Inefficiency In Marketing And Branding, Emily Skinner

Department of Conflict Resolution Studies Theses and Dissertations

This study aimed to bring to light infield internal assumptions, expectations, and knowledge that may influence limitations on fostering an environment that can increase a social demand for conflict resolution services, knowledge, and practices. The research explored if the field’s marketing is influenced by the macro social norms, assumptions, and expectations of conflict and if they influence how the field communicates with its market. The study’s goal was to investigate if the marketing and the branding of conflict resolution are influenced by the social fact of conflict as negative. This study explored conscious and unconscious broad patterns of common-sense knowledge, …

Canada Opens Its Courts To Overseas Human Rights Abuses, Peter Bowal, Thomas D. Brierton

Eberhardt School of Business Faculty Articles

On February 28, 2020, the Supreme Court of Canada by a five-to-four majority in its Nevsun Resources Ltd v Araya decision, refused to strike damages claims for international human rights abuses and Canadian torts by three former workers at a Canadian majority-owned mining company in Eritrea. Canadian courts are open to hear claims under Canadian law for wrongs committed outside Canada.

New Technologies And The Evolution Of Tax Compliance, James Alm, Joyce Beebe, Michael S. Kirsch, Omri Marian, Jay A. Soled

Journal Articles

Improving tax compliance is a common goal of governments worldwide. The United States is no exception. The size of the nation's "tax gap" - or the difference between what taxpayers pay in taxes in a timely manner and what they should pay if they fully complied with the tax laws - is hundreds of billions of dollars annually, significantly depriving the nation of much-needed revenue.

This paper explores the mixed effects of technological advancements on tax compliance - and, thus, its counterpart, tax noncompliance. On the one hand, technological advances have largely eradicated many of the commonplace tax-noncompliance techniques that …

J Mich Dent Assoc January 2020

The Journal of the Michigan Dental Association

Every month, The Journal of the Michigan Dental Association brings news, information, and features about Michigan dentistry to our state's oral health community and the MDA's 6,200+ members. No publication reaches more Michigan dentists!

In this issue, the reader will find the following original content:

• A cover story on "Preventing Pediatric Obesity: How the Dental Team Can Help”.
• “We Can Make a Difference in a Child’s Life”, a feature with a special message to MDA members from Suzanne Port, DDS, MS, president of the Michigan Academy of Pediatric Dentistry.
• A feature on “The Age-1 Visit: Time to Welcome Children into …

Regulated Sports Betting: A Nevada Perspective, Becky Harris

International Gaming Institute Faculty Research

This article discusses the impact Nevada has had on legal regulated sports betting for the past seventy years. First, an overview and history of Nevada's sport betting regulatory framework will be presented; and, second, lessons learned and issues to consider for states wishing to embark on legalized regulated sports betting such as, integrity, why states and not the federal government should regulate sports betting, how tax rates and fees impact the legal and illegal markets, why technology is critical component of legal sports wagering, why multiple avenues for consumer protection are essential, and finally how cooperation among all stakeholders is …

A Looming Pilot Shortage: It Is Time To Revisit Regulations, Christopher L. Caraway

International Journal of Aviation, Aeronautics, and Aerospace

Forecasts predict we will need 790,000 pilots by 2037. This prediction means airlines will need to increase pilot levels by 267%. Finding a solution to this pilot shortage requires the aviation community to address limiting regulatory and other core factors. Many have claimed that 1,500-hour rule and mandatory retirements are critical issues contributing to the pilot shortage. However, the data does not support these claims. Instead, trends in pilot population levels and safety records indicate these regulations are only effecting the demographics of the current pilot population. The shift in the pilot population will harm future airline operations if the …

More Meaningful Ethics, Veronica Root Martinez

Faculty Scholarship

Firms have exponentially increased their investment in the creation and implementation of ethics and compliance programs over the past fifteen years. The convergence of more robust corporate enforcement actions and more sophisticated industry standards and practices surrounding compliance efforts has created a booming compliance industry with commonly accepted standards and responsibilities. Within these efforts is a formal acknowledgment by the government, industry leaders, and academics that ethics has a role to play in helping to prevent misconduct within firms and that compliance without concern for ethics is insufficient. The reality, however, is that within firms’ efforts to implement effective ethics …

Rethinking The Regulatory Sandbox For Financial Innovation: An Assessment Of The Uk And Singapore, Christopher Chen

Research Collection Yong Pung How School Of Law

After the UK launched the first regulatory sandbox regime in 2016, the approach was quickly transplanted to numerous other countries as a means of promoting innovation, improving competition and enhancing financial inclusion. However, it remains unclear whether the approach can effectively achieve the relevant policy goals and thus justify the differential regulatory treatment. This chapter provides a broad overview of the regulatory sandbox regime and examines its potential benefits and problems. The chapter then provides some empirical evidence by analyzing the sandboxes awarded in the UK and Singapore between 2016 and 2018 with the aim of identifying what the businesses …

Designing Business Forms To Pursue Social Goals, Ofer Eldar

Faculty Scholarship

The long-standing debate about the purpose and role of business firms has recently regained momentum. Business firms face growing pressure to pursue social goals and benefit corporation statutes proliferate across many U.S. states. This trend is largely based on the idea that firms increase long-term shareholder value when they contribute (or appear to contribute) to society. Contrary to this trend, this Article argues that the pressing issue is whether policies to create social impact actually generate value for third-party beneficiaries—rather than for shareholders. Because it is difficult to measure social impact with precision, the design of legal forms for firms …

Complex Compliance Investigations, Veronica Root Martinez

Faculty Scholarship

Whether it is a financial institution like Wells Fargo, an automotive company like General Motors, a transportation company like Uber, or a religious organization like the Catholic Church, failing to properly prevent, detect, investigate, and remediate misconduct within an organization’s ranks can have devastating results. The importance of the compliance function is accepted within corporations, but the reality is that all types of organizations—private or public—must ensure their members com­ply with legal and regulatory mandates, industry standards, and internal norms and expectations. They must police thousands of members’ compli­ance with hundreds of laws. And when compliance failures occur at these …

What Explains Taxation By Resource-Rich Rebels? Evidence From The Islamic State In Syria, Mara R. Revkin

Faculty Scholarship

Greed-based theories of civil war predict that rebel groups will only engage in taxation and other state-building activities in areas where they lack exploitable resources. However, this prediction is contradicted by the Islamic State’s pattern of taxation across time and space. A new data set mapping seven types of revenue-extracting policies imposed by the Islamic State, a jihadist rebel group, in the 19 Syrian districts that it governed between 2013 and 2017 indicates that these policies were just as prevalent in resource-rich as in resource-poor districts. I propose a new theory that better explains this pattern—a rebel group’s pattern of …

Indenture Trustee Duties: The Pre-Default Puzzle, Steven L. Schwarcz

Faculty Scholarship

This Article addresses a topic at the intersection of finance, agency, contract, and trust law: the pre-default duties of an indenture trustee for bondholders. The existing scholarship on indenture trustee duties focuses on the post-default scenario, when the indenture trustee is required to act as a prudent person in like circumstances on behalf of the bondholders. No prior scholarship addresses an indenture trustee’s predefault duties. It is critical to try to define those duties because activist investors in the $42-trillion-plus bond market increasingly are making pre-default demands on indenture trustees, requiring them to know how to respond.

The Importance Of Qualitative Research Approaches To Gig Economy Taxation, Shu-Yi Oei, Diane M. Ring

Faculty Scholarship

As the United States tax system continues to grapple with how to tax workers in the gig economy, it confronts a number of questions about the nature and composition of the sector as well as the tax issues confronted by its participants. Many of these questions have proven difficult to answer due to a lack of adequate information. But the answers are important and will shape how tax and other areas of law (such as employment law, labor law, and antitrust) respond to the gig economy. Thus, the question of how to obtain the data and information necessary to formulate …

Tepoel Lecture: Bond Trustees And The Rising Challenge Of Activist Investors, Steven L. Schwarcz

Faculty Scholarship

No abstract provided.

The Shifting Scheme Of Athletic Fundraising: Investigating Private Giving Under The Tax Cuts And Jobs Act, Kirsten Nicole Brown

Graduate Theses, Dissertations, and Problem Reports (ETD)

With a consistent decline in state funding to public higher education, institutions have become more reliant on private funding to institutional support. The shift in government policy through the introduction of the Tax Cuts and Jobs Act (TCJA) (2017) created financial uncertainty within athletic departments and university foundations. The TCJA eliminated the 80 percent tax deduction on season ticket donations and increased the standard deduction. With these policy changes, athletic development officers speculated a decline in donations in 2018 and beyond. Using quantitative methodology and a longitudinal approach, this study examined athletic donations from January 1, 2013 to July 31, …

Debt In Just Societies: A General Framework For Regulating Credit, John Linarelli

Scholarly Works

Debt presents a dilemma to societies: successful societies benefit from a substantial infrastructure of consumer, commercial, corporate, and sovereign debt but debt can cause substantial private and social harm. Pre- and post-crisis solutions have seesawed between subsidizing and restricting debt, between leveraging and deleveraging. A consensus exists among governments and international financial institutions that financial stability is the fundamental normative principle underlying financial regulation. Financial stability, however, is insensitive to equality concerns and can produce morally impermissible aggregations in which the least advantaged in a society are made worse off. Solutions based only on financial stability can restrict debt without …

Smart Factories, Dumb Policy? Managing Cybersecurity And Data Privacy Risks In The Industrial Internet Of Things, Scott J. Shackelford

Minnesota Journal of Law, Science & Technology

No abstract provided.

Implementing Ethics Into Artificial Intelligence: A Contribution, From A Legal Perspective, To The Development Of An Ai Governance Regime, Axel Walz, Kay Firth-Butterfield

Duke Law & Technology Review

The increasing use of AI and autonomous systems will have revolutionary impacts on society. Despite many benefits, AI and autonomous systems involve considerable risks that need to be managed. Minimizing these risks will emphasize the respective benefits while at the same time protecting the ethical values defined by fundamental rights and basic constitutional principles, thereby preserving a human centric society. This Article advocates for the need to conduct in-depth risk-benefit-assessments with regard to the use of AI and autonomous systems. This Article points out major concerns in relation to AI and autonomous systems such as likely job losses, causation of …