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Articles 1 - 30 of 35
Full-Text Articles in Law
The Effect Of A New Edited Labor Code Of The Republic Of Uzbekistan On The Development Of Entrepreneurship And Investment Activity, Sh.A. Ismoilov
The Effect Of A New Edited Labor Code Of The Republic Of Uzbekistan On The Development Of Entrepreneurship And Investment Activity, Sh.A. Ismoilov
Review of law sciences
The article discusses the need for a new edition of the Labor Code of the Republic of Uzbekistan and its impact on the development of business and investment activities in the country. Debating questions which the new edition of the Labor Code will change the current edition are analyzed. In particular, various solutions are proposed in relation to various kinds of disputable situations within employees, business representatives and the state, arising in the sphere of social and labor relations. The fact that there is no unified approach to adoption of the Labor Code in a new edition, first, it justifies …
Uganda Invest In Foreign Markets: Uganda As A Case Study, Morgan T. Lynch
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.
International Business And Investment In China, It Is Wrong To Read The Face Of The Chinese-Foreign Joint Venture Law That The Board Of Directors Is The Highest Authority, Fengping Gao
Journal of International Business and Law
Within the spectrum of international business and investment, China inbound Foreign Direct Investment hit an all-time high record 135 billion U.S. dollars in 2017. Meanwhile, a large number of international businesses, including American companies, pulled out from China and transferred their business to South Asian countries for a variety of considerations including but not limited to the cheaper labor and the lax environmental regulations, and/or to the United States in response to the recent corporate tax cut and/or other policy objectives initiated under the Trump Administration such as to bring the manufacturing jobs back to America. The departure of foreign …
Law School News: Rwu Law Student Receives Skadden Fellowship To Pursue Public-Interest Law 11/26/2018, Edward Fitzpatrick
Law School News: Rwu Law Student Receives Skadden Fellowship To Pursue Public-Interest Law 11/26/2018, Edward Fitzpatrick
Life of the Law School (1993- )
No abstract provided.
11th Marine Law Symposium: Legal Strategies For Climate Adaptation In Coastal New England 2018, Roger Williams University School Of Law
11th Marine Law Symposium: Legal Strategies For Climate Adaptation In Coastal New England 2018, Roger Williams University School Of Law
Marine Affairs Institute Conferences, Lectures, and Events
No abstract provided.
Becoming "Investor-State Mediation", Nancy A. Welsh, Andrea Kupfer Schneider
Becoming "Investor-State Mediation", Nancy A. Welsh, Andrea Kupfer Schneider
Nancy Welsh
While the current system of investment treaty arbitration has definitely improved upon the “gunboat diplomacy” used at times to address disputes between states and foreign investors, there are signs that reform is needed. Increasingly, states and investors express concerns regarding the costs associated with the arbitration process; some states are refusing to comply with arbitral awards; other states now hesitate to sign new bilateral investment treaties; and citizens have begun to engage in popular unrest at the prospect of investment treaty arbitration. As a result, both investors and states are advocating for the use of mediation to supplement investor-state arbitration. …
Tax Expenditure And The Treatment Of Tax Incentives For Investment, Agustin Redonda, Santiago Diaz De Sarralde, Mark Hallerberg, Lise Johnson, Ariel Melamud, Ricardo Rozemberg, Jakob Schwab, Christian Von Haldenwang
Tax Expenditure And The Treatment Of Tax Incentives For Investment, Agustin Redonda, Santiago Diaz De Sarralde, Mark Hallerberg, Lise Johnson, Ariel Melamud, Ricardo Rozemberg, Jakob Schwab, Christian Von Haldenwang
Columbia Center on Sustainable Investment Staff Publications
Governments use tax expenditures to boost investment, innovation and employment. However, these schemes are largely opaque, costly and often ineffective in reaching their stated goals. They also frequently trigger unwanted side effects. In order to improve the performance of these tools, the authors present three concrete policy proposals: First, governments should increase transparency on tax benefits. G20 members should take the lead on this with frequent and comprehensive tax expenditure reports. Second, G20 governments should improve the design of tax incentives with the aim of minimizing the generation of windfall profits and negative spillover effects within and across (in particular, …
Between Dialogue And Decree: International Review Of National Courts, Robert B. Ahdieh
Between Dialogue And Decree: International Review Of National Courts, Robert B. Ahdieh
Robert B. Ahdieh
Recent years have seen dramatic growth in the number of international tribunals at work across the globe, from the Appellate Body of the World Trade Organization and the International Tribunal for the Law of the Sea, to the Claims Resolution Tribunal for Dormant Claims in Switzerland and the International Criminal Court. With this development has come both increased opportunity for interaction between national and international courts and increased occasion for conflict. Such friction was evident in the recent decision in Loewen Group, Inc. v. United States, in which an arbitral panel constituted under the North American Free Trade Agreement found …
Smarter Finance For Cleaner Energy: Open Up Master Limited Partnerships (Mlps) And Real Estate Investment Trusts (Reits) To Renewable Energy Investment, Felix Mormann, Dan Reicher
Smarter Finance For Cleaner Energy: Open Up Master Limited Partnerships (Mlps) And Real Estate Investment Trusts (Reits) To Renewable Energy Investment, Felix Mormann, Dan Reicher
Felix Mormann
This policy proposal makes the case for opening Master Limited Partnerships (MLPs) and Real Estate Investment Trusts (REITs) — both well-established investment structures — to renewable energy investment. MLPs and, more recently, REITs have a proven track record for promoting oil, gas, and other traditional energy sources. When extended to renewable energy projects these tools will help promote growth, move renewables closer to subsidy independence, and vastly broaden the base of investors in America’s energy economy.
Beyond Tax Credits: Smarter Tax Policy For A Cleaner, More Democratic Energy Future, Felix Mormann
Beyond Tax Credits: Smarter Tax Policy For A Cleaner, More Democratic Energy Future, Felix Mormann
Felix Mormann
Solar, wind, and other renewable energy technologies have the potential to mitigate climate change, secure America’s energy independence, and create millions of green jobs. In the absence of a price on carbon emissions, however, these long-term benefits will not be realized without near-term policy support for renewables. This Article assesses the efficiency of federal tax incentives for renewables and proposes policy reform to more cost-effectively promote renewable energy through capital markets and crowdfunding.
Federal support for renewable energy projects today comes primarily in the form of tax incentives such as accelerated depreciation and, critically, tax credits. Empirical evidence reveals that …
Enhancing The Investor Appeal Of Renewable Energy, Felix Mormann
Enhancing The Investor Appeal Of Renewable Energy, Felix Mormann
Felix Mormann
This article introduces an investor-oriented framework for the evaluation of renewable energy policy, applies these newly developed criteria to a qualitative comparison of the primary policy instruments, and offers recommendations to enhance the investor appeal of renewable energy in the United States.
The multi-trillion dollar task of scaling renewable energy technologies to mitigate climate change, ensure energy security, and create green jobs is one of the most daunting challenges of the twenty-first century. It is, in fact, too great a challenge for either the public or private sector to shoulder alone. Rather, public policy must catalyze private investment in renewable …
Investment Spending And Gdp, Kevin Zaldivar
Investment Spending And Gdp, Kevin Zaldivar
Celebration of Learning
This study's mission is to give a modern day analysis to investment spending and to provide insight to the degree of impact certain investments have on our GDP. This should interest local,state,and federal policy makers as well as anyone who practices their civic duty.
Entire Fairness: A Call To Preserve Delaware Doctrine, Lisa Bei Li
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. …
A River Runs Through It: The Jobs Act’S Course Through Crowdfunding, Towards Stable Returns On Investment In Real Estate, Devin Finlayson
A River Runs Through It: The Jobs Act’S Course Through Crowdfunding, Towards Stable Returns On Investment In Real Estate, Devin Finlayson
Journal of the National Association of Administrative Law Judiciary
No abstract provided.
The Real Reason The Investor Class Hates Pensions, David H. Webber
The Real Reason The Investor Class Hates Pensions, David H. Webber
Shorter Faculty Works
No issue in America today better illustrates the divergent interests of working Americans and the 1 percent than pension reform. Substantial empirical evidence shows that America’s favored retirement vehicle — the 401(k), recently renounced by its own inventors — is grossly inadequate and will leave tens of millions of Americans with insufficient retirement assets. And yet states and cities are busy converting traditional pensions into these failing 401(k)s or equivalents, to the great benefit of money managers and the finance class.
Are Investor Time Horizons Shortening?, Rachelle Sampson, Yuan Shi
Are Investor Time Horizons Shortening?, Rachelle Sampson, Yuan Shi
Seattle University Law Review
The rise in quarterly capitalism in corporate America—increased pressure to meet quarterly earnings predictions and cater to shareholder preferences for short-term returns—has gained significant coverage in the business world and popular press in recent years. Increasingly, popular opinion suggests that firms bow to shareholder pressures, taking steps to smooth earnings and boost share prices in the short-term; firms do so by cutting Research and Development (R&D) investment, engaging in extensive cost-cutting, or increasing dividends and share buybacks. Recent estimates at the industry level show that investor discount rates have increased in recent years, supporting the notion that shorttermism is on …
Long-Term Executive Compensation As A Remedy For Corporate Short-Termism, Caroline Flammer
Long-Term Executive Compensation As A Remedy For Corporate Short-Termism, Caroline Flammer
Seattle University Law Review
It is often argued that corporations are too focused on the short term (i.e., they are “short-termist”). For example, during the 2016 U.S. presidential campaign, candidate Hillary Clinton urged companies to escape the tyranny of short-termism. Similarly, in the recent policy debate in the United Kingdom on the need to reform corporate governance and executive compensation, Bank of England’s Chief Economist Andy Haldane stated that “[e]xecutive pay is a matter of profound and legitimate public interest. Pay practices can encourage short-term behaviour in ways which harm both firms and the economy.” In this context, a recent article by Flammer and …
The Long And Short Of It: Are We Asking The Right Questions? Modern Portfolio Theory And Time Horizons, Jim Hawley, Jon Lukomnik
The Long And Short Of It: Are We Asking The Right Questions? Modern Portfolio Theory And Time Horizons, Jim Hawley, Jon Lukomnik
Seattle University Law Review
The heavy shadow of modern portfolio theory (MPT) has had a massive impact on everything from market structure, investment philosophy, and investor behavior, to the research that examines those disciplines. Researchers believe that they are casting light onto investment issues (including, for this purpose, specifically investor time horizons), but generalized acceptance of MPT allows it to continue to darken what should be enlightened.
Flash Traders (Milliseconds) To Indexed Institutions (Centuries): The Challenges Of An Agency Theory Approach To Governance In The Era Of Diverse Investor Time Horizons, Harold Weston, Conrad Ciccotello
Flash Traders (Milliseconds) To Indexed Institutions (Centuries): The Challenges Of An Agency Theory Approach To Governance In The Era Of Diverse Investor Time Horizons, Harold Weston, Conrad Ciccotello
Seattle University Law Review
One aspect of the problem in trying to align a corporate investment horizon (the time period for return on investment) to that of its shareholders is the enormous range of investor time horizons, which can range from milliseconds to centuries. A second aspect of the problem is whether ownership of shares equates to ownership of the corporation. A third aspect of the problem is that, despite the theories and advocacy of shareholders being owners, based on the agency model of corporate finance first developed in the 1970s, the theory is contrary to corporate law. These three aspects will be developed …
Federalism Of Personal Finance: State & Federal Retirement Plans, William A. Birdthistle
Federalism Of Personal Finance: State & Federal Retirement Plans, William A. Birdthistle
Seattle University Law Review
In this Article, I consider possible approaches that attempt to improve the plans through which millions of Americans tend to their life savings. I begin by considering the inadequacies of our current system of defined contribution accounts and then address two possible alternatives: the first being a federal account universally available to Americans based largely on the model of the Thrift Savings Plan; the second being a system of statebased retirement accounts like those that have already been developed in a handful of states. Though I conclude that a single, federal plan would be superior, either alternative approach would be …
Brain Perspectives On Investor Behavior And Decision-Making Errors, Owen D. Jones
Brain Perspectives On Investor Behavior And Decision-Making Errors, Owen D. Jones
Seattle University Law Review
I want to start off with what I consider to be the statement of the problem. As I understand it, you’re concerned that the time horizons for maximizing the value of an investment vary among individuals in surprisingly wide, imperfectly predictable, and often seemingly irrational ways. And, if I understand your target here, the idea is that a deeper understanding of the causes of this variation might aid in the planning and design of legal and corporate policies. To jump into this, I’m going to give a little bit of an introduction about behavioral biases, and something that I’ve called …
The Myth Of The Ideal Investor, Elisabeth De Fontenay
The Myth Of The Ideal Investor, Elisabeth De Fontenay
Seattle University Law Review
Critiques of specific investor behavior often assume an ideal investor against which all others should be compared. This ideal investor figures prominently in the heated debates over the impact of investor time horizons on firm value. In much of the commentary, the ideal is a longterm investor that actively monitors management, but the specifics are typically left vague. That is no coincidence. The various characteristics that we might wish for in such an investor cannot peacefully coexist in practice. If the ideal investor remains illusory, which of the real-world investor types should we champion instead? The answer, I argue, is …
Institutional Investors, Corporate Governance, And Firm Value, K.J. Martijn Cremers, Simone M. Sepe
Institutional Investors, Corporate Governance, And Firm Value, K.J. Martijn Cremers, Simone M. Sepe
Seattle University Law Review
In the corporate governance debate, the short-term versus longterm contention has grown into perhaps today’s most controversial topic. In this debate, descriptions of institutional investors tend to present a dichotomic nature. These investors are alternatively portrayed as homogenously short-termist or as consistent “forces for good,” focused on targeting underperforming companies. This Article moves beyond this dichotomy. It shows empirically that aggregate institutional investor behavior presents nuances that depend on a variety of factors, including individual firm characteristics, institutional ownership levels, and institutional propensity toward activism.
An Identity Theory Of The Short- And Long-Term Investor Debate, Claire A. Hill
An Identity Theory Of The Short- And Long-Term Investor Debate, Claire A. Hill
Seattle University Law Review
Economics famously treats market actors as homogeneous. People are homo economicus, rational self-interested maximizers of their own utility. So far, so good, notwithstanding supposed behavioral “deviations” from rationality (more on those later). That people can view their own utility very differently from one another is recognized in theory, but not so much in practice. Also not sufficiently recognized is the extent to which people’s views of their own utility reflect their theories of who they are and how the world works, and that they hold such views and theories not just atomistically, but also collectively—that is, socially.
Corporate Governance As Privately-Ordered Public Policy: A Proposal, Lynn Stout, Sergio Gramitto
Corporate Governance As Privately-Ordered Public Policy: A Proposal, Lynn Stout, Sergio Gramitto
Seattle University Law Review
In this Article, we show how our society can use corporate governance shifts to address, if not entirely resolve, a number of currently pressing social and economic problems. These problems include: rising income inequality; demographic disparities in wealth and equity ownership; increasing poverty and income insecurity; a need for greater innovation and investment in solving problems like disease and climate change; the “externalization” of many costs of corporate activity onto third parties such as customers, employees, creditors, and the broader society; the corrosive influence of corporate money in politics; and discontent and loss of trust in the capitalist system among …
Wrong-Termism, Right-Termism, And The Liability Structure Of Investor Time Horizons, Andrew Verstein
Wrong-Termism, Right-Termism, And The Liability Structure Of Investor Time Horizons, Andrew Verstein
Seattle University Law Review
Do investor time horizons lead to inefficient business conduct in the real economy? An extensive finance literature analyzes whether particular practices (e.g., high frequency trading and stock buybacks) lead firms to operate with inefficiently myopic investment horizons, and an extensive legal literature considers the appropriateness of policy interventions. This Article joins those debates by charting the space of possibilities: what might be the causes of problematic time horizons? What solutions are available? One implication of this analysis is that there may be unexplored market-based solutions located on the liability side of investors’ balance sheets. This Article also argues that we …
20/20 Vision In The Long & Short-Termism Debate, Anne Tucker
20/20 Vision In The Long & Short-Termism Debate, Anne Tucker
Seattle University Law Review
What is an optimal investment time horizon—for institutions, individual shareholders and corporations? This question can evoke emotional, ideological, and theoretical responses. The answers usually deeply entrenched debates over the fundamental roles of markets versus regulation and between the appropriate loci of corporate power: the board of directors versus the shareholders. Too long-term and it is myopia; too near-term and is it short-termism. Neither label is inconsequential, so the debates are not tepid, academic, or marginal.
Good Activist/Bad Activist: The Rise Of International Stewardship Codes, Jennifer G. Hill
Good Activist/Bad Activist: The Rise Of International Stewardship Codes, Jennifer G. Hill
Seattle University Law Review
Shareholder participation in corporate governance and investor activism are topics du jour in the United States and around the world. In the early part of the 20th century, Professors Berle and Means considered that shareholder participation was impossible in the transformed commercial world that they described in The Modern Corporation and Private Property. This was a world characterized by dispersed and vulnerable shareholders, in which owners do not manage, and managers do not own, the corporation. In such an environment, the goal of corporate law became one of protecting shareholder interests rather than providing shareholders with participation rights. The structure …
Specificity And Time Horizons, Frank Partnoy
Specificity And Time Horizons, Frank Partnoy
Seattle University Law Review
This Essay argues that the short-termism debate would benefit from greater clarity and specificity regarding time horizons. I make four points. First, optimal time horizons vary in discernible ways. Second, the potential mismatch between actual and optimal time horizons should generate a range of responses. Third, investors and managers can discern and disclose estimates of actual and optimal time horizons (e.g., using categories such as preconscious, fast conscious, slow conscious, and discounting). Fourth, market participants, policy makers, and scholars should use such estimates to be more precise about time horizons. For example, critics of hedge fund activism could recognize that …