Law Commons^™

Venture Capital In China And India: Does Business Form Matter?, Lin Lin, Umakanth Varottil

Vanderbilt Journal of Transnational Law

This Article reevaluates the importance of business organizational forms with regard to venture capital funds by exploring two major Asian markets, China and India. Evidence suggests that the limited partnership is the leading business form among Chinese venture capital funds. On the other hand, Indian venture capital funds are predominantly organized as private noncharitable trusts. These findings challenge the orthodox view that the limited partnership is the preferred business form for venture capital funds. Instead, Indian venture capital funds have used the trust vehicle effectively and regard it as a functional equivalent to limited partnerships. This Article argues that the …

Business, Human Rights, And The Promise Of Polycentricity, Jamie D. Prenkert, Scott J. Shackelford

Vanderbilt Journal of Transnational Law

Special Representative of the Secretary-General on the Issue of Human Rights and Transnational Corporations and Other Business Enterprises (SRSG) John Ruggie referred to the "Protect, Respect, and Remedy" Framework (PRR Framework) and the UN Guiding Principles on Business and Human Rights (Guiding Principles) as a polycentric governance system. However, the exact meaning of this phrase has not been very carefully elucidated. This Article analyzes that description in the context of the deep and varied body of literature on polycentric governance and evaluates the PRR Framework in that light. In particular, this Article uses a case-study approach, analyzing the emerging polycentric …

Hedge Fund Regulation Via Basel Iii, Wulf A. Kaal

Vanderbilt Journal of Transnational Law

This Article is a rejoinder to a recent comment by Professor Romano on an earlier paper I coauthored with Christian Kirchner. Professor Romano suggests regulatory arbitrage, rather than the targeted regulation of bank lending to hedge funds under Basel II, as a hedge against systemic failure. I contend that it was not harmonization through Basel II but rather the profitability of certain assets and business strategies that caused banks to hold similar assets and engage in similar strategies. In particular, I find that the increasing role of hedge funds in the credit derivatives market, in combination with the market's recent …

On Virtue And Peace: Creating A Workplace Where People Can Flourish, Caryn L. Beck-Dudley, Steven H. Hanks

Vanderbilt Journal of Transnational Law

In this Article, Professors Beck-Dudley and Hanks explore the virtues necessary for individuals to flourish within a business organization. Through this exploration, they conclude that modern discussions of business ethics fail to account for the value and virtue of peaceableness. Then, focusing on the freedom from conflict aspect of peaceableness, they use Champion Paper Products, Sartell Minnesota Paper Mill, as a case study in the significant improvements in human flourishing and organizational performance that can occur when management and labor choose peaceable solutions to labor conflicts.

Healthy Organizations And The Link To Peaceful Societies: Strategies For Implementing Organizational Change, Jeannette Jackson, Maria Coolican

Vanderbilt Journal of Transnational Law

This Article focuses on the impact that the organizational structure of a corporation can have on fostering a peaceful outside world. In this Article, the Authors argue that if an organization is structured to meet the needs of its employees and also cares about its employees and their needs, then the employees will behave civilly and respectfully. Furthermore, the Authors argue that the organization structured in such fashion will then be conducive for healthy organizational growth and positive conflict resolution. The Article posits that families, schools, religious organizations, social groups, and business organizations all have the potential of contributing to …

On The Threshold Of The Adoption Of Global Antibribery Legislation, Barbara C. George, Kathleen A. Lacey, Jutta Birmele

Vanderbilt Journal of Transnational Law

This Article will (1) briefly discuss domestic U.S. anti-corruption efforts through a review of the substantive content of the 1977 FCPA and its 1988 amendments; (2) evaluate indicators of changes in domestic attitudes and policies toward business corruption as evidenced by the breadth and scope of recent increased enforcement activities of DOJ and the SEC; (3) analyze the factors causing recent changes in international attitudes and policies toward business corruption; and (4) examine the resulting international efforts to combat business corruption by governmental and non-governmental organizations, financial standard setting organizations, and financial institutions.

Trade And Business Opportunities In Poland, Marek Kulczycki

Vanderbilt Journal of Transnational Law

Economic policies of the Polish Government are aimed at achieving two fundamental objectives. In the short run, the objective is rapid deceleration of high inflation and general stabilization of the Polish economy. In the long run, the objective is an irreversible transformation of the Polish economic system into a free market economy. Implementation of both policy objectives has been taking place simultaneously since January 1, 1990.

In the short term, the most important problem for us is the stabilization of the economy. Fighting inflation is perhaps the most urgent problem for us. If we cannot manage with this, it will …

Book Review, Richard Gruner

Vanderbilt Journal of Transnational Law

Large corporations are important, yet enigmatic, participants in world commerce. International corporate behavior is morally and legally significant because of its immense scope and societal impact. That behavior, however, is often so complex as to defy characterization under the simple moral or legal standards applicable to individuals. Furthermore, the ability of traditional moral or legal systems to shape multinational corporate conduct is also unclear given that large corporate bureaucracies lack the motivations and fears normally used to enforce moral or legal accountability. As one frustrated court noted, the problem is that corporations have "no soul to damn, and no body …

The European Economic Interest Group (Eeig): A New European Business Entity, Daniel T. Murphy

Vanderbilt Journal of Transnational Law

This Article analyzes the European Communities Regulation establishing the European Economic Interest Group (EEIG), a commercial entity whose purpose is to facilitate the economic interests of its members. Dean Murphy emphasizes that the Regulation establishes the EEIG as a Community-wide legal entity but leaves regulation of many aspects of the EEIG's status and operation to the laws of the Member States. The Regulation institutionalizes and encourages cross-border business cooperation while allowing flexibility. Dean Murphy analyzes the Regulation's provisions for formation, operation, and termination of the EEIG. He concludes that the EEIG will likely prove to be a convenient and popular …

Books Received, Law Review Staff

Vanderbilt Journal of Transnational Law

Quaderni Di Scienze Criminali: The Penal Protection of Works of Art. Edited by the International Institute of Higher Studies in Criminal Sciences. Siracusa, Italy: The International Institute of Higher Studies in Criminal Sciences, 1983. Pp. 447.

Japanese Business Law and the Legal System. By Elliott J. Hahn. Westport, Connecticut and London, England: Quorum Books, 1984. Pp. vii, 168. $35.00.

The Exchange Rate System: Lessons of the Past and Options for the Future. Edited by Ellas H. Wright. Washington, D.C.: International Monetary Fund, 1984. Pp. vii, 55. $7.50.

The International Maritime Organization. Edited by Samie Mandrabody. London: Croom Helm Ltd., 1984. …

Department Of Justice Opinion Letter, Patricia M. Wald

Vanderbilt Journal of Transnational Law

The Department of Justice supports the main purpose of these bills, that is, expeditious exposure of, and effective opposition to, secret cartel arrangements supported by foreign governments that cause direct injury in U. S. commerce. The Department of Justice also welcomes support for accelerated efforts toward international resolution of restrictive anticompetitive business practices. However, the Department, for the reasons stated above, recommends against enactment of H.R. 13921 and H.R. 13922 in their present forms.

We do believe the continued exploration and discussion of the need for enactment of a reporting requirement for foreign, governmentally-involved, cartels would be worthwhile. We have …

Books Received, Journal Staff

Vanderbilt Journal of Transnational Law

The Gamesman

By Michael Maccoby

New York: Bantam Books,1978. Pp. 302. $2.75.

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1976 Digest of United States Practice in International Law

Edited by Eleanor C. McDowell

Dep't of State Publication, 1977.Pp. 850.