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on Law and Economics |
| By: | Chris Sanchirico (University of Pennsylvania) |
| Abstract: | The ownership nationality of large US multinational companies plays an implicit but important role in the current debate over how such companies should be taxed. This paper identifies that role and investigates what is actually known about where these companies’ shareholders reside. |
| Keywords: | Ownership nationality, home country bias, home equity bias, home bias, TIC system, CPIS, institutional investment managers, Section 13(f), Investment Company Act, Investment Advisers Act, Forms 13F, N-CSR, N-Q, ADV, PF, 1042-S |
| JEL: | K34 K22 K33 H24 H22 H25 H87 E62 F2 F3 F36 F4 F42 G23 G24 G28 G38 |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:btx:wpaper:1422&r=law |
| By: | Juan F. Jimeno (Banco de España); Marta Martínez-Matute (Banco de España); Juan S. Mora-Sanguinetti (Banco de España) |
| Abstract: | Labor courts may introduce a significant wedge between “legal” firing costs and “effective” (post-trial) firing costs. Apart from procedural costs, there is uncertainty over judges’ rulings, in particular over the likelihood of a “fair” dismissal ultimately being ruled as “unfair”, which may increase firing costs significantly. In 2010 and 2012, reforms of Employment Protection Legislation widened the definition of fair economic dismissals in Spain. In this paper we look at Labor Court rulings on dismissals across Spanish provinces before and after the EPL reforms (2004-2014). We make this comparison taking into account a set of co-variates (local labor market conditions, characteristics of the Labor Courts, pre-trial conciliations, congestion of Labor Courts) which may determine the selection of dismissal cases ruled by Labor Courts. Our results suggest that, despite the 2010 and 2012 EPL reforms, the proportion of economic redundancies being ruled as fair by Labor Courts has not substantially increased, although it is now less negatively associated with the local unemployment rate than in the pre-reform period. |
| Keywords: | employment protection legislation, firing costs, unemployment. |
| JEL: | J52 J53 K31 K41 |
| Date: | 2015–03 |
| URL: | http://d.repec.org/n?u=RePEc:bde:wpaper:1507&r=law |
| By: | Mohamed Abdelnaby Elsayed Ghanem (Faculty of Law, Tanta University, Egypt) |
| Abstract: | Law and economy are firmly connected. Adding to that the economic life has an effect on the judicial thinking. So, rules of law should characterized the care of existed economic attitude in the state in a way that law seems to be a mirror in which the existed economic attitudes in most branches of law are reflected even if they are not of direct shape. judiciary may be an attracting factor for investment through understanding and the speed of settling the disputes achieving quick justice. On the other hand, it may be a factor of dispelling of investment and development via prolonging the period of litigation and being not aware of the nature of such disputes.So, Egyptian legislator created special Economic Courts to deal with economic disputes, and to avoid its negative effects, by Law No. 120 of 2008. Which decide that this kind of litigation can be solved by judges specialized in this kind of litigation, to encourage investment, and to provide maximum protection for economic activity and help develop the plans and ensure justice. But, There are some Criticism Directed to the Case Preparation Panel in Economic Courts in Egypt. So, I will discuss it in my paper. |
| Keywords: | Law, Economy, Economic Courts, Egypt, Slow Pace of Litigation, Crisis of Justice, Law No. 120 of 2008 |
| JEL: | K00 K40 K41 |
| Date: | 2014–12 |
| URL: | http://d.repec.org/n?u=RePEc:sek:iacpro:0902780&r=law |
| By: | Cooke, Alex |
| Abstract: | This paper argues that legally speaking, Turkish service recipients must be granted visa-free access to the EU. The freedom to provide services is covered by Article 41(1) Additional Protocol, and rights in this field should be extended as far as possible to Turkish nationals, as outlined in Abatay and others. Article 41(1) AP’s aim is to ensure no new visa restrictions can be placed on Turkish nationals. Given that the freedom to receive services is, as stated in Luisi and Carbone, a necessary corollary of the freedom to provide services, it is logical that this must be extended to service recipients. Furthermore, this paper argues that the extensive body of case law and Treaty law between the EU and Turkey demonstrate a relationship that is far greater than a simply economic one, as suggested by the CJEU in Ziebell, conferring greater rights on Turkish nationals. The CJEU, as outlined in Article 19(3) of the TEU, has a purely legal role within the EU legal order. It should only rule according to the letter of the law, as opposed to bringing invalid considerations into the judgment. In this regard, the Court must rule that Turkish service recipients are entitled to visa free travel. The CJEU has, however, borne political reasoning in mind in the past, especially with regard to association agreements. Demirkan potentially has huge ramifications, with the ‘erosion of sovereignty’ that comes with opening of borders to third countries. This would open the door to 75 million Turkish nationals to move freely in the EU, and given the recent violent protests in Turkey and the strength of anti-Turkish sentiments in the press. This whole issue highlights how the CJEU is often thrust into inherently political matters when its sole mandate is to rule on the law of the European Union. |
| Keywords: | european union, free movement, turkish nationals, european court of justice |
| JEL: | K0 K00 K2 K20 K3 K30 K33 K4 |
| Date: | 2013–06–20 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:63193&r=law |
| By: | Murat Aksan (Selçuk University) |
| Abstract: | Rules of law have been the most important element to establish the social order from past to present. The rules of law in conjunction with the society's values are affected by some components like traditions, religion, moral values with no doubt. In today's world, in which ancient borders almost disappear and globalization started to form in many ways although universal rules of law are attempts to be reached as an ideal principle in the specific examples, cultural variables are possible to be seen. One of the best example for this situation is the problems in criminal law applications. In this context, Turkey's view in the value structure-specific problems such as tradition, honor, blood herding as the causes of crime may be encountered and these are related to the legitimacy differentiation or a religious practice circumcision which the body immunity violation of terms could be evaluated as a number of cultural differences. This study aims to analyse different elements live together in contemporary societies, like more national values shaped by the punishment system and inhabited by the dead and the applications from Turkey with maximum out-migration in the context of Germany. |
| Keywords: | Rules of law, cultural variables, Turkish and German criminal laws |
| JEL: | K30 |
| Date: | 2014–10 |
| URL: | http://d.repec.org/n?u=RePEc:sek:iacpro:0802022&r=law |
| By: | Christoforos Ioannidis (KING'S COLLEGE LONDON) |
| Abstract: | The Montevideo Convention of the Rights and Duties of States (1933) codified the declarative theory of statehood as accepted as part of customary international law and laid down the five requirements for statehood which are often summarized as 'the principle of effectivity': (a) permanent population, (b) defined territory, (c) organised power (government) and (d) ability to enter into relations with other states. The aim of this article is to discuss the possibility of an additional requirement: popular sovereignty in a specific historic sense. I will also discuss whether this requirement should be regarded as a necessary and/or sufficient condition for statehood. The importance of this additional condition will be explained in the light of the legitimacy of exercise of power. Furthermore, it will be argued that this additional requirement may help promote the suggested primary goal of international law, that being justice (instead of peace as easily inferred by the UN Charter) in the specific sense of the protection of basic human rights, as suggested by Buchanan in Justice, Legitimacy and Self-Determination. It has to be noted that both main points, namely Buchanan’s suggested notion of justice as the primary goal of international law and my main argument of popular sovereignty in a specific historical sense as a requirement of statehood are not to be regarded as relating to any form of Natural law Theory. It is not the case that I maintain that any international norm which violates justice as ethical foundation of international law is, because of that reason, legally invalid. Although the Legal Positivism vs Natural Law Theory is certainly not the focus of this paper, if one wishes to regard Legal Positivism and Natural Law Theory as mutually exclusive, my suggestion falls entirely under the umbrella of Legal Positivism for reasons that will be explained. |
| Keywords: | Philosophy of international law, public international law, legitimacy, conditions of statehood, sovereignty |
| JEL: | K33 K49 |
| Date: | 2014–07 |
| URL: | http://d.repec.org/n?u=RePEc:sek:iacpro:0300341&r=law |
| By: | Brunela Kullolli (Aleksander Moisiu†University of Durres); Madrid Kullolli (General Prosecution Office of Albania) |
| Abstract: | My contribution to the present conference, shall address in this topic : "The scope of administrative jurisdiction of the courts in France and its differences compared to Albania".The article discusses the history, characteristics and scope of the jurisdiction of the administrative court in France, in comparison with the system of justice administration in Albania.-The first part of the report gives a concise picture of the historical evolution administrative justice in France.-The second part focuses on the main aspects of the structure and organization of administrative justice in France, with particular reference to the evolution of role of the Conseil d'État, provide consulting and administrative law. -The third part addresses the issue concerning the criteria for the allocation among jurisdictions civil and administrative in doing this, it explores the complex itinerary is followed by the Court of conflicts, magisterial organ in charge of France to the questions relating to jurisdiction .-The fourth part involves the central object of the intervention: the scope of the jurisdiction of administrative courts in France, that the areas in which the administrative judge and the country has jurisdiction. The analysis will make a comparison with the Albanian system.Vision historical, social, political and constitutional development of the realities of the countries taken into account from the comparative study. CONCLUSIONS-With regard to the system of law and administrative process, France stands Albania is not in the conclusions in the premises. Both states are "on the administrative arrangements" in which there is a large body of rules of public law distinct from the common law. It is no coincidence, because in both national realities, the rule tends to be present and involved in many areas of social, welfare and economic conditions; which explains the existence of a special law for public administrations. In both countries, the role of the administrative judge is therefore evolving and increasingly requiring the ability to handle the difficult dialectic between authority and freedom. |
| Keywords: | administrative jurisdiction, court of conflicts , administrative judge, role of the Conseil d'État, allocation of jurisdiction, public administrations |
| JEL: | K23 |
| Date: | 2014–10 |
| URL: | http://d.repec.org/n?u=RePEc:sek:iacpro:0802632&r=law |
| By: | Kai Gehring (University of Heidelberg); T. Florian Kauffeldt (University of Heidelberg); Krishna Chaitanya Vadlamannati (Norwegian University of Science and Technology) |
| Abstract: | The large share of politicians facing criminal accusations in India has sparked a public debate and an emerging literature that assesses its causes and effects. We develop a model of the incentives faced by members of parliament when deciding whether to engage in effort for their constituency to assess the effect of their having a criminal background on their decision. We use direct and clearly identifiable measures of effort in the 14 Lok Sabha over the 2004-2009 legislative period: attendance rates, parliamentary activity, and utilization rates of a local area development scheme. The findings suggest that criminal MPs exhibit on average about 5% lower attendance rates and lower utilization rates, but no difference in parliamentary activity. The results depend on the development level of the constituency, a proxy for rent-seeking possibilities and monitoring intensity, as well as on the measurement of criminal background. We use selection on observables, matching techniques, and treatment effect regressions to demonstrate why these negative relations should constitute an upper bound estimate for the causal effect of criminality and to show they are unlikely to be driven by selection on unobservabels. |
| Keywords: | India; Elections; Crime; Good and bad politicians; Development; Attendance and activity in parliament; Political economy |
| JEL: | D72 H11 I38 |
| Date: | 2015–03–24 |
| URL: | http://d.repec.org/n?u=RePEc:got:gotcrc:170&r=law |
| By: | Ginés Hernández-Cánovas (Universidad Politécnica de Cartagena); Ana Mol-Gómez-Váquez (Universidad Politécnica de Cartagena); Johanna Koëter-Kant (Vrije Universiteit Amsterdam) |
| Abstract: | We use a survey data set of 4348 SMEs from 25 European countries to analyze the association between the use of factoring as a form of SME financing and the legal environment of the country where in which they operate. Our findings indicate that firms operating in countries with legal environments that weakly protect the rights of creditors, such as those under French-civil-law, with political instability or high enforcement costs, are more likely to use factoring. We hypothesize that in such environments bank financing could be more restricted and factoring might be an alternative source to alleviate SMEs financing constraints. In line with this argument, we find that firms experiencing some financing difficulties are more likely to use factoring. We also show that the likelihood of using factoring increases for firms located in growing economies. Factoring might be a means for these firms to finance the enlargement of their business activity. (Ginés Hernández-Cánovas acknowledges financial support by Fundación Séneca (Project 15403/PHCS/10), and by Ministerio de Ciencia e Innovación (Project ECO2011-29080) |
| Keywords: | Factoring, SMEs financing, financial constraints, legal system. |
| JEL: | G00 G30 G32 |
| Date: | 2014–07 |
| URL: | http://d.repec.org/n?u=RePEc:sek:iefpro:0401481&r=law |