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Copyright of Accounting & Finance / Oblìk ì Fìnansi is the property of Institute of Accounting & Finance and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

climate litigation rulings are widely viewed as the ultimate tool to enforce climate compliance. The objective of this paper is to evaluate whether a ruling on climate litigation has an impact on corporate share price and the direction of the effect. Prior work inclination is on the concept of climate law entropy and the recent case ruling on Lufthansa's climate litigation. The methodology is mixed with a review of relevant literature and mini-quantification of value difference using a t-test to analyse difference in mean share price before and after climate litigation ruling on Lufthansa, and finally a formulation of framework. Findings show that unlike previous ubiquitous literature findings, the share price of Lufthansa experienced a significant increase in value after the climate litigation ruling with a significant p-value of less than 0.01 (which indicates high significance level of difference in share price). The paper has practical and theoretical implications, for business law academics and for practitioners. Climate litigation may serve a dual role of enforcing climate law compliance and instilling corporate legitimacy. The paper contributes original value to corporate climate litigation literature by proposing a novel conceptual framework for understanding the diverse differential impact of climate litigation on corporate share price. [ABSTRACT FROM AUTHOR]

In the context of the national strategy of the construction of the Guangdong‐Hong Kong‐Macao Greater Bay Area, the first institutional breakthrough in cross‐border insolvency cooperation between the Chinese Mainland and Hong Kong was achieved on 14 May 2021, and the first case of recognition and assistance in insolvency proceedings in Hong Kong, Re Samson Paper Co Ltd., emerged in judicial practice in December 2021. The judicial practice of Samson not only successfully verifies the great significance of the Record of Meeting and the Opinion for institutional ice‐breaking of cross‐border insolvency cooperation in the Chinese Mainland, but also reflects the practical effects and legislative issues of the above documents on the mechanism of insolvency cooperation between two areas. In view of the problems reflected by the practice of Re Samson Paper Co Ltd. and existing in the legislation, this paper puts forward specific proposals for the cross‐border insolvency cooperation between the Chinese Mainland and Hong Kong, including abolishing the precondition of reciprocity, strengthening exchanges, and cooperation between the two areas on parallel bankruptcy issues, and supplementing the coordination of parallel bankruptcy procedures for cross‐border insolvency. It also proposes domestic legislation on cross‐border insolvency recognition and assistance in China in a point‐by‐point manner, so as to achieve the establishment of a sound cross‐border insolvency cooperation mechanism in line with the international community. [ABSTRACT FROM AUTHOR]

The Kuwaiti policymaker has never overlooked the protection of market competition. Anticompetitive practices have always been a concern in Kuwait; from the Kuwaiti Constitution 1962, which allows a legal monopoly for a certain time, and the Commercial Law Act 68/1980, to the Competition Protection Acts (CPA) of 2007 and 2020. However, the legislative responses to anticompetitive behaviours in Kuwait have varied, with criminal prohibition being historically dominant. Recently, with the introduction of the CPA 2020, Kuwait has decriminalized cartel activity. Although it may have been expected that the criminal nature of cartel activity should have been maintained, the major shift in Kuwait was contrary to the global trend towards criminalization. Cartel activity is now being dealt with within a regulatory framework, with only administrative sanctions. This paper suggests that the decriminalization in Kuwait weakens the argument that the global trend towards criminalizing cartel activity has always been driven by a top-down process. This paper has three aims: the first is to explore this inadvertently 'neglected' research area in Kuwait; the second is to discuss why cartel activity has been decriminalized, with a focus on the problem of 'moral ambiguity' as an explanation; and the third is to argue for the re-criminalization of cartel activity. [ABSTRACT FROM AUTHOR]

Copyright of Contemporary Accounting Research is the property of Canadian Academic Accounting Association and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Artificial intelligence (AI) is the simulation of human intelligence processes by machines, especially computer systems. As with other elements of society, the modern economy has become more reliant on AI, indicating the potentially great influence it has on innovation. Many previous studies on the status of AI-generated work have focused on its connection to intellectual property (IP) law, mainly under copyright and regulations, and whether this type of work could be protected within the legal framework of copyright. Therefore, an all-inclusive assessment of the fitness of the existing copyright law framework is necessary. While recent discussions have mostly considered AIgenerated works. In this paper, we examine AI within the context of the international legal framework of IP rights, the Agreement on Trade- Related Aspects of Intellectual Property Rights (TRIPS Agreement), and national legislation. We conclude that current copyright law is unsuitable for the protection of AI-generated works and that sui generis is a better option. However, the future legislative path should be specialized legislation addressing not only AI-generated works but also the prohibited acts that might create certain risks for industries. The research adopted a comparative analytical in-depth examination of the international legal framework of intellectual property law. [ABSTRACT FROM AUTHOR]

Copyright of Environmental & Social Management Journal / Revista de Gestão Social e Ambiental is the property of Environmental & Social Management Journal and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

As digital trade continues to reshape the global economic landscape, the key objective of this study is to bridge a significant Legal-Technical gap characterised by the discord between rapid technological advancements and slower-evolving legal frameworks. This paper delves into the complexities of this gap and emphasises the need for a holistic approach to understand and address the multifaceted challenges it presents to businesses, policymakers, and the broader international trading system. This research offers a novel theoretical foundation for exploring and bridging the Legal-Technical gap in digital trade. Initially, it discusses the integration of legal and technical knowledge systems, which leads to the emergence of specific transdisciplinary knowledge as described by Andrew Sage's Theory of Systems. Subsequently, it explores the acquisition of universal knowledge about these systems through Herman Dooyeweerd's multi-aspectual philosophy. Furthermore, it proposes the development of a transdisciplinary knowledge representation using Fritz Zwicky's Morphological Method. Our analysis reveals that focusing on lingual, social, economic, and aesthetic aspects enables the prioritisation of critical factors essential for enhancing legal-technical functionality. [ABSTRACT FROM AUTHOR]

Australia has a long history of privately owned utility price regulation, one that is little known. This price control was designed to restrain the market power of several utilities (gas, rail, tramways, electricity, and water). The purpose of this paper, therefore, is to establish what types of price control that were used in Australia in the utilities sector before the First World War and to determine the degree to which this price control influenced efficiency. As price levels in this era were set in legislation, the lack of flexibility led to less-than-optimal outcomes, and eventually and led to new approaches were developed after 1912 to the utilities that remained in private ownership, and in some cases influenced the movement in Australia towards government control. [ABSTRACT FROM AUTHOR]

In order to explore the connotation and construction path of the principle of good faith from the perspective of civil and commercial law, this paper combines intelligent algorithms to analyze the connotation and construction path of the principle of good faith from the perspective of civil and commercial law. Moreover, this paper presents a topology network specially used to improve the energy absorption efficiency of the isolation resistor used in the power divider and theoretically analyzes the effectiveness of the isolation topology. In addition, this paper further optimizes the topology of the two-way broadband filter power divider and builds a simulation model based on the basic content of the principle of good faith. From the research results, the simulation model proposed in this paper can play a certain role in the connotation and construction path of the principle of good faith from the perspective of civil and commercial law. On this basis, some suggestions on the connotation and construction path of the principle of good faith are put forward. [ABSTRACT FROM AUTHOR]

Purpose The paper aims to examine the circumstances in which directors who fail to perform their duties and responsibilities with due diligence can be sanctioned and to evaluate whether the recent changes for reform both in the UK and European Union (EU) are adequate to deter directors from misfeasance or to cure defects in the law. The purpose of this paper is to articulate regulatory regimes for disqualification of corporate directors and the proposed changes to tighten loose ends in this area of commercial law. This paper articulates the duties and responsibilities of Corporate Officer and the varied context in which they are manifested in the UK. Owing to the onerous nature of corporate directorship, directors cannot passively sit in boardrooms or on their committees, but they need to demonstrate that they are hands on to get things done as expected. The first part of the paper articulates the current regimes on director’s disqualification so that it is used as a basis to examine the efficacy of the proposed changes for reform both on this area in the UK and Europe. The second part of the paper examines the proposed reform for change both in UK and in Europe and their efficacy to plug in law and practice. This area of corporate law is increasingly regulated by a number of agencies to ensure that directors perform their duties and responsibilities with due diligence.Design/methodology/approach The paper is structured in two parts whereby the first part examines the framework for disqualification of corporate directors and related issues in the UK. The second part articulates recent changes in the law on director’s disqualification with a view to evaluate whether these changes are robust enough to enhance the position of shareholders to ensure the company is well-managed for their interests or whether overregulation is inimical to the company by hindering directors from executing their corporate responsibilities with a measure of discretion.Findings The findings reflect that regulatory reforms should be evolved and implemented to strike a balance in ensuring that regulatory regimes are implemented not to penalise corporate directors unnecessarily but also to ensure that rules are respected. The paper urges caution because overregulation can inhibit corporate director from taking necessary risks (to be more guarded) to secure their positions.Research limitations/implications The paper was written on the basis of secondary and primary data sources often also alluding to empirical cases studies. It would have been better to carry out structured interviews to corroborate some of the findings of the paper.Practical implications Corporate governance is an onerous task, and thus, it requires corporate officers to exercise due diligence in execution of their duties and responsibilities. Getting the issue of corporate governance wrong often has ramifications for the company and respective corporate officers. These ramifications include not least penalising individual directors by disqualification from holding corporate directorship or the company being wound up altogether.Social implications Corporation plays an important role in the society such as creating employment opportunities, markets for goods and services, generating revenues to governments and the list goes on. Therefore, the way they are managed has important implications for societies and governments.Originality/value Even though the paper was written on the basis of primary and secondary data sources, it was done in a distinctive manner to foster the objective for writing it. [ABSTRACT FROM AUTHOR]

Erie Railroad v. Tompkins is a cornerstone of modern American law. Erie overturned Swift v. Tyson, a case that had stood for nearly a century with minimal objection. Swift involved the negotiability of commercial paper and the case held that in disputes heard in federal courts under diversity jurisdiction the court should use traditional common law methods to resolve the case rather than feeling bound by the state court decisions. Correspondence between Harvard Law School's Lon Fuller and Yale's Arthur Corbin--arguably the two greatest Contracts Law professors of the mid-Twentieth Century--reveals widespread ridicule and dismay among commercial lawyers and scholars following Erie. In a letter to Corbin, Fuller quote the great Harvard Constitutional Law scholar Reed Powell as saying the Supreme Court "pulled a brodie" in Erie. This article reviews Erie from the perspective of commercial law, rather than the public law commentary that has dominated discussion of the Erie doctrine since its birth, seeking to understand the depth of contempt for Erie among commercial lawyers in terms of its consequences, reasoning, and jurisprudential approach. [ABSTRACT FROM AUTHOR]

Copyright of Revista Jurídica Portucalense is the property of Revista Juridica Portucalense and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The article reports on the working of the German Hydrogen and Fuel Cell Association (DWV) regarding equal treatment of renewable electricity-based fuel sources and biofuels under the law. It mentions that according to Werner Diwald, chairperson of DWV, current legislative framework at European Union for business. It also presents the views of Oliver Weinmann, DWV's board members and manager at Vattenfall Europe, regarding the same.

This paper comprehensively explores autonomous vessels, employing a methodology grounded in legal analysis to achieve its research objectives. The primary purpose of this research is to enhance the understanding of the legal framework governing autonomous vessels, specifically within the context of UAE Maritime Commercial Law No. (26) [1981]. The study places specific emphasis on international conventions, with notable attention given to the Convention for the Unification of Certain Rules of Law with respect to Collisions between Vessels [1910]. In addition to elucidating the legal status, the research delves into the provisions of marine collisions, providing clear definitions and outlining relevant conditions. The exploration extends to various categories of marine collisions, encompassing those attributed to the fault of a single vessel, shared faults, collisions caused by force majeure, and uncertainties arising from doubt or unknown causes. The significance of this research lies in identifying gaps and challenges within the current legal framework and shedding light on potential areas of improvement. The findings underscore a compelling need for legislative adjustments within the existing UAE Maritime Commercial Law No. (26) of 1981. Alternatively, the enactment of a new law, similar to Law No. (9) [2023], is proposed to govern the operation of autonomous vessels in the Emirate of Dubai. [ABSTRACT FROM AUTHOR]

As Chinese practitioners and scholars ponder the scope of fiduciary obligations under the country's company law, this paper offers a comparative perspective from German law. Although German corporate law has not rejected legal transplants, the common law trust has never been accepted as an organizational device for administering third-party funds or doing business. Nonetheless, the German judiciary has developed a sophisticated concept of fiduciary obligations where the statutes remain silent. This paper explores the application of fiduciary obligations to limited partnerships, limited liability companies, and stock corporations. It takes a membership perspective to ascertain the legal relationships between a corporation and its shareholder-members and among fellow-shareholders, as business entities evolve from personalistic to capitalistic settings. Fiduciary obligations also inform the relationship between the corporation and its directors and corporate officers. Although German law does not classify directors and corporate officers as the shareholders' direct trustees, shareholders stand nonetheless to benefit from the way directors and corporate offices discharge their duties towards the respective corporate entities. Moreover, criminal law rules on embezzlement operate to protect the corporation and the monies it administers from overly risky business projects. [ABSTRACT FROM AUTHOR]

China's manufacturing industry has set off a wave of digital transformation innovation, and the commercial law information management system, as one of the important tools to enhance the intelligent management ability of enterprises, will also face a new round of reform and upgrade. Building an "intelligent commercial law information management system platform" is the primary transformation path for traditional manufacturing enterprises to realize intelligent upgrading of commercial law information management system. The "intelligent commercial law information management system platform" is a management information sharing service platform that enables enterprises to achieve the goal of collaborative management by integrating their own business models and product technology needs with the help of emerging digital technologies, which can help enterprises realize the organic integration of business processes, risk management, value creation, and other management needs and change the original. The platform can help enterprises realize the organic integration of business processes, risk management, value creation, and other management needs and change the focus of the traditional financial shared service center, so that the enterprise business law information management system can be shifted to the enterprise strategy-oriented, focusing on risk control, decision support, and other high-level management. Therefore, it is particularly important to evaluate and optimize the "intelligent business law information management system platform" of manufacturing enterprises in the process of digital transformation. In this context, this paper conducts research and application of commercial law information management system based on big data, conducts an in-depth study on the current status of commercial law information management system in China, and provides an outlook on commercial law information management in China by establishing a relevant model system. [ABSTRACT FROM AUTHOR]

This research aims to analyze the extent and the ways in which Romanian public administration institutions are currently using social media, involving citizens in active collaboration within society. It also explores the main issues that need to be considered when implementing an e-Government strategy. Our paper aims to shed a light not only on the scarce literature on the field, but also the particularities of this research provides empirical references, analyzes opportunities and challenges for more effective e Government processes and to provide better public services. In the same time, there are highlighted the main issues that local public institutions need to take into account when managing the transition to operations in a social media environment. In doing so, we explore how experts and public servants in Romania acknowledge the importance of social media and new tendencies, how they refer to the tools they use and the way they approach stakeholders and citizens. With the help of semi-structured interviews with practitioners in Romania, we aim to structure a frame of looking at the new tendencies in Public Administration Development, with a particular focus on new technology and social media in e-Government. [ABSTRACT FROM AUTHOR]

In March 2012, the Australian Commonwealth Attorney-General's Department published a Discussion Paper which explored the prospect of codifying or otherwise reforming the Australian law of contract. There is little reason to think that the codification of the Australian law of contract is likely to be embarked upon in the foreseeable future. At the same time, recent years have seen a resurgence of interest in codification in Britain. This paper examines the experience of contract codification efforts in Australia with a view to identifying a number of cautionary lessons. It focuses on two challenges inherent in contract codification which have been given too little attention by the proponents of reform in Australia. [ABSTRACT FROM AUTHOR]

This paper is focused on the financial situation of enterprises introducing safeguard procedure (in other words moratorium) in the Czech Republic. The paper's aim is to show if the enterprises asking for the safeguard procedure do have financial conditions for recovering and maintaining the going concern principle. The safeguard procedure should help the enterprise to solve their problematic situation because it protects them against creditors for the court approved time period. The safeguard procedure cannot be successful when the financial situation is extremely poor and therefore this paper analyses the enterprises' financial situation upon applying for safeguard. The situation is evaluated using bankruptcy models, such as Altman Z-Score, Kralicek Quick Test, IN 99 and IN05. The evaluation is conducted in different time moments, specifically one year, two years and three years before implementing the safeguard procedure. Results for the individual enterprises are summed up by basic descriptive statistics as mean, median, low and upper quartiles. The results show that the financial situation of most enterprises was very poor before introducing the safeguard procedure and it had deteriorated during the years before. [ABSTRACT FROM AUTHOR]

Arbitration offers a unique and practical tool for solving private disputes between commercial parties. International commercial arbitration has traditionally been considered a creature of consent. Generally, arbitration is only able to compel willing parties, or those privy to the contract, to arbitrate. Therefore, arbitral tribunals have been unwilling to entertain claims by a non-signatory to arbitrate which leads some critics to consider the lack of extension to third parties a major short-coming of arbitration in the modern world. This paper concludes that the general consensus has become increasingly more willing to extend the arbitration agreement to third parties who were not signatories of the main contract. This conclusion is drawn from recent case law and amendments to the UNCITRAL Model Law on International Commercial Arbitration. The paper also highlights the utilisation of common law principles derived from agency and contract law as a means of facilitating a more inclusive approach from arbitral tribunals, with heavy focus on the five common theories first identified in the Thomson case and their further development in later cases. [ABSTRACT FROM AUTHOR]

This paper demonstrates how the contract theory framework can and should complement standard financial mathematics for analysing Islamic financial securities (IFSs). It is motivated by the perception that most valuations of IFSs are rather simplistic and are as simple as risk and reward, leading to very simplistic investment strategies, especially by buyers. In fact, there are more dimensions to IFSs and IF in general which can only be properly analysed with more advanced approaches, such as contractual issues which are well-recognised and discussed in the fields of Islamic commercial law and contract theory but not always considered in valuation models. Contract theory can bring together financial mathematics and contractual issues, providing a more sophisticated framework for analysing IFSs. This paper aims to demonstrate this by providing a brief outline of the contract theory approach, followed by a simple demonstration of its use in the analysis of diminishing mush¯arakah (DM) contracts. The resulting model led to three main conclusions regarding DM contracts: That (i) finance seekers have no ready incentive to spend on asset maintenance, (ii) finance seekers will only spend on asset maintenance if their marginal benefit from the asset's appreciation is greater than the financier's share of the asset, and (iii) if the magnitude of asset appreciation and depreciation is equal, an increase in either will also increase the optimal level of spending on asset maintenance. [ABSTRACT FROM AUTHOR]

Securitisation is an asset management method aimed at issuing securities based on a separate set of claims. With this method, private entities and public entities delivering public tasks can have access to investment financing or operational financial through the capital market, bypassing a credit risk. It is achieved by bringing to a swap of a package of claims due to the entity with cash raised through issuing securities (e.g., bonds) backed by the debt obligations (claims). The paper presents legal and economic rules for organising the debt securitisation process involving a special purpose commercial law company set up to issue securities, which, next to securitisation through a securitisation fund, is one of the two types of securitisation of claims governed by Polish law. This paper was written within the research project financed by the National Science Centre No. DEC-2013/08/A/HS5/00642. [ABSTRACT FROM AUTHOR]

This paper analyzes the history of the Alberta Orderly Payment of DebtsAct and the constitutional controversy that followed. The legislation sought to protect debtors by imposing restrictions on creditors. In 1960, the Supreme Court of Canada in Reference re Validity of Orderly Payment of Debts Act, 1959 (Alberta) ruled that the legislation was ultra vires on the basis that it interfered with the federal bankruptcy and insolvency power. The Orderly Payment of Debts Act reference is the capstone in a trilogy of cases in which provincial legislation was invalidated for encroaching upon the federal bankruptcy and insolvency power. The reference case represents a high-water mark for the expansion of the federal bankruptcy power and a curtailment of provincial authority to assist insolvent debtors. The paper argues that the OPDA reference is a landmark case in that it continued a trend of limiting provincial efforts to assist insolvent debtors by giving a broad reading of the federal bankruptcy and insolvency power. [ABSTRACT FROM AUTHOR]