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Open Access
Article
Publication date: 12 February 2020

Sabah Ahmd Farag

This theme will be addressed through main points: Special Nature of Investment Disputes and its methods of peaceful settlement. International legal framework governing Arbitration…

6719

Abstract

Purpose

This theme will be addressed through main points: Special Nature of Investment Disputes and its methods of peaceful settlement. International legal framework governing Arbitration in investment disputes: A. Multilateral legal framework. B. Bilateral legal framework/Investment promotion and protection agreementsTypes of arbitration in investment disputes. The Egyptian experience in investment disputes arbitration. The National legal framework. Egypt on the map of investment disputes in the world. A case study. Conclusion: Results related to the legal framework regulating investment disputes in Egypt. Results related to The arbitration cases against Egypt.

Design/methodology/approach

The researcher investigates the subject of international arbitration in investment disputes in the framework of voluntary theory, which is based on the premise that the satisfaction of people who are addressing the international legal norm is the basis of the same rule. In other words, the basis of international law is based on the satisfaction of the State and other international legal persons Both, and then express or implied consent.

Findings

Despite the availability of domestic and regional arbitration mechanisms in Egypt represented by a large number of cases.

Research limitations/implications

The theme for the study primarily on Egypt and the international arbitration of investment disputes, through theoretical and practical study of disputes arbitration which Egypt is a party defendant in which to focus on what was issued in which the provisions of the International Center for Settlement of Investment Disputes, in an attempt to find out the reasons for the verdicts image released it, where it came mostly against Egypt, and whether these judgments against them in investment disputes due to reasons related to the legal framework of the arbitration process, or for reasons of bodies of arbitration issued by those provisions, or to the defense, which represents the Egyptian party, or to the circumstances Economic and political (which represents the investment climate).

Originality/value

The proposed solutions to improve the conditions and factors surrounding the arbitration disputes that Egypt is waging against foreign investors, whether they are initially alleged or accused of drafting agreements and contracts, through amending the relevant legislation and laws, selecting arbitration bodies and defense bodies.

Details

Review of Economics and Political Science, vol. 8 no. 6
Type: Research Article
ISSN: 2356-9980

Keywords

Open Access
Article
Publication date: 17 July 2019

Zakariya Mustapha, Sherin Kunhibava and Aishath Muneeza

This paper aims to highlight resolution of Islamic finance dispute by common law-oriented courts in Nigeria with respect to Sharīʿah non-compliance and legal risks thereof, as…

2436

Abstract

Purpose

This paper aims to highlight resolution of Islamic finance dispute by common law-oriented courts in Nigeria with respect to Sharīʿah non-compliance and legal risks thereof, as well as the lesson to learn from Malaysia in that regard. This is with view to ensuring Sharīʿah compliance and legal safety of Islamic finance practice as prerequisites for sustainability of the Nigerian Islamic finance industry.

Design/methodology/approach

A qualitative method was used; interviews were conducted with different categories of experts and primary data collected in relation to Sharīʿah non-compliance and legal risks in adjudicating Islamic finance dispute by civil courts and the role of expert advice as basis for court referral to Financial Regulation Advisory Council of Experts. A doctrinal approach was adopted to analyse relevant legislative provisions and content analysis of secondary data relevant to applicable provisions in matters of finance before civil courts.

Findings

The paper discovers an indispensable role of conventional financial regulations in sustaining Islamic finance industry. Appropriate laws for Islamic finance under the conventional framework foster legal safety and Sharīʿah compliance of Islamic finance activities in related cases handled by courts. Nigeria civil courts can aid sustainability of Islamic finance when so equipped and enabled by laws that address apparent Sharīʿah non-compliance and legal risks in judicial dispute resolution. Inadequate legal provisions for dispute resolution breeds Sharīʿah non-compliance and legal risks in Islamic finance, undermine its prospects and stand inimical to its sustainability.

Research limitations/implications

This research is limited by its focus on Sharīʿah non-compliance and legal risks alone, which emanate mainly from judicial resolution of Islamic finance dispute by Nigerian civil courts.

Practical implications

This research seeks to motivate a determined and deliberate regulatory action and change in approach towards addressing apparent risks associated with Islamic finance while resolving disputes therein by civil courts. It has implications on common law jurisdictions generally that adopt similar approach as Nigeria's while introducing Islamic finance into their conventional finance framework.

Originality/value

Dispute resolution and other regulatory functions of civil courts are important to Islamic finance though apparently overlooked while introducing Islamic finance in Nigeria as in other emerging jurisdictions. This research ascertains the role of the civil courts as indispensable for Islamic Financial Institution (IFIs) operations and demonstrates that such courts are needed for the development and sustainability of Islamic finance industry. The research demonstrates the end-to-end requirement of Sharīʿah compliance of Islamic financial transactions as absolute and needs be ensured and guarded at dispute resolution level by properly equipped courts.

Details

ISRA International Journal of Islamic Finance, vol. 11 no. 2
Type: Research Article
ISSN: 0128-1976

Keywords

Open Access
Article
Publication date: 14 October 2022

Aaron C.K. Lau

This paper aims to provide insight into mediation as an Alternative Dispute Resolution (ADR) to resolve interpersonal conflicts for undergraduate students in Hong Kong.

1884

Abstract

Purpose

This paper aims to provide insight into mediation as an Alternative Dispute Resolution (ADR) to resolve interpersonal conflicts for undergraduate students in Hong Kong.

Design/methodology/approach

Mixed methods research approach was utilised to examine university students' understanding of dispute resolution at their respective universities in Hong Kong, and factors that may influence their decision to utilize ADR on campus.

Findings

The tendency for university students in Hong Kong to voice criticisms was low due to: (1) unawareness of proper grievance channels; and (2) fear of potential academic retribution from the institution. This may be the result of inadequate promotion and transparency in the existing higher education dispute resolution framework. Academic staff acknowledged the limitation of the existing closed-door dispute resolution system and the need for an alternative conflict management system which emphasises on restoration of harmony in the university community.

Originality/value

As there is a lack of study focusing on ADR practices in Hong Kong universities, this paper provides insight into the feasibility of integrating ADR into the existing dispute resolution processes in resolving interpersonal conflicts at universities in Hong Kong.

Details

Public Administration and Policy, vol. 25 no. 3
Type: Research Article
ISSN: 1727-2645

Keywords

Content available
Book part
Publication date: 20 April 2017

Stephen B. Goldberg, Jeanne M. Brett and Beatrice Blohorn-Brenneur

Abstract

Details

How Mediation Works
Type: Book
ISBN: 978-1-78714-223-7

Open Access
Article
Publication date: 18 June 2021

Mejda Bahlous-Boldi

This paper aims to investigate the link between agency costs mitigation via three levels of rights protection (minority rights protection, enforcing contracts, resolving…

1454

Abstract

Purpose

This paper aims to investigate the link between agency costs mitigation via three levels of rights protection (minority rights protection, enforcing contracts, resolving insolvency issues) provides the propitious climate for financing investment opportunities around the world.

Design/methodology/approach

We use Bartlett’s three-group method to stratify countries based on how well they protect investors as measured by the scores provided in the Doing Business dataset developed by the world bank for 189 countries. We then test a variety of independent hypotheses that the alleviation of agency costs via three levels of protection (minority investors’ rights, contract enforcement, resolving insolvency issues) is associated with better access to credit via the banking system, better valuation of listed firms via the stock market and higher investment and growth.

Findings

Our findings support Agency Theory which explains why the absence of legal protection of external investors leads to stock markets and financial institutions failing to fulfill their role of financing the economy.

Practical implications

The policy implication from this study indicates that countries ought to (1) develop legislation that protects investors’ rights, (2) improve the quality of their judicial system in terms of enforcing the legislation and (3) build the framework for resolving disputes during insolvency as these are important ingredients for a developed financial system.

Originality/value

We use the World bank dataset and a new methodology to quantify the significance of the relationship between minority rights protection, ineffective enforcement, lack of bankruptcy laws and access to firm financing via the banking sector and the stock market. It provides new evidence that the quality of the judicial system in a country matter for firms’ ability to raise financing and enhance value creation.

研究目的

本文旨在探討一個假設,該假設為透過三級別權利保障(保障少數群體的權利、執行合同、解決破產問題)的代理成本緩減會為世界各地的金融性投資機會提供良好的氣侯。

研究設計/方法/理念

我們以巴特利特(Bartlett)的三組法把國家分組,分組方法是基於該國家保障投資者的程度,而保障程度是以世界銀行為189個國家而制定的營商資料集內提供的評分來衡量的。我們把國家分組後,便就各樣的獨立假設進行測試。這些假設是:透過三級別保障(保障少數股權投資者的權利、合同的執行、解決破產問題)的代理成本緩減是連繫於透過銀行系統而產生的更佳信貸途徑,透過股市的更佳上市公司估值及更高的投資和增長。

研究結果

研究結果証實了代理理論,該理論說明為何當外來投資者沒有得到法律保障時,結果會導致股票市場和金融機構不能履行其為經濟提供資金的角色。

實際的意義

本研究具有政策方面的意義,因研究顯示了國家應該:(1)設立保障投資者權利的法律;(2)在執行法律方面,改善其司法系統的素質;(3)建立解決破產時爭議的體系。這些是應該做的,因它們是一個已發展的金融體制的重要元素。

研究的原創性/價值

本文強調了一個保障投資者權利的法律環境所需的三個特定要素:對少數股權投資者權利的保障、有效的執行、有效的破產法律及透過銀行部門和股票市場而取得公司融資。這提供新的證據, 證實這三級別權利保障對公司籌集資金及提高價值創造的能力而言至為重要。

Details

European Journal of Management and Business Economics, vol. 31 no. 3
Type: Research Article
ISSN: 2444-8451

Keywords

Open Access
Article
Publication date: 14 August 2018

Keith W. Hipel, Liping Fang and Yi Xiao

A flexible decision technology called the Graph Model for Conflict Resolution (GMCR) is applied to a generic aquaculture conflict to illustrate how GMCR can be used to…

2624

Abstract

Purpose

A flexible decision technology called the Graph Model for Conflict Resolution (GMCR) is applied to a generic aquaculture conflict to illustrate how GMCR can be used to systematically investigate a wide range of conflicts arising in aquaculture in order to obtain meaningful strategic insights and thereby assist in making informed decisions in aquaculture development. To emphasize the importance of being able to resolve aquaculture controversies, a review of the global economic impacts of the aquaculture industry is provided and the key stakeholders who may be involved in aquaculture disputes along with their legitimate interests are identified. The paper aims to discuss these issues.

Design/methodology/approach

The GMCR methodology comprises two main stages: modeling and analysis. During the modeling stage, key decision makers (DMs), the options under each DM’s control and each DM’s relative preferences over feasible states are identified based on a thorough background investigation to a given dispute. Within the analysis stage, solution concepts that describe key characteristics of human behavior under conflict are utilized to determine resolutions that could occur when DMs interact under pure competition and cooperatively. Interpretation of the equilibrium results provides meaningful strategic insights for better understanding which strategies a given DM could select as the conflict evolves over time.

Findings

The results demonstrate how difficult it can be to balance the interests of different key stakeholders in aquaculture development. In all possible resolutions identified in the generic aquaculture conflict, at least two DMs among First Nations, environmental group and residents (Res) would object to the expansion of aquaculture activities due to the assumption that the government would choose to appease one stakeholder at a time. They also reflect the need for a useful tool box of decision technologies for addressing the vast range of challenges that could arise in the important area of marine economics and management.

Originality/value

The GMCR methodology possesses several unique and key original capabilities in comparison to other conflict analysis models. First, it only requires limited information to calibrate a conflict model. Second, it contains a number of solution concepts that describe how a DM could think and behave under conflict. Third, it furnishes a range of informative output, follow-up analyses and advice for use in real-life decision support. Finally, all of the foregoing advantages of GMCR can be contained within decision support systems that permit practitioners and researchers to readily apply the GMCR methodology to real-life conflicts.

Details

Marine Economics and Management, vol. 1 no. 1
Type: Research Article
ISSN: 2516-158X

Keywords

Open Access
Article
Publication date: 13 April 2017

Jean J. Boddewyn

This paper aims to determine the essential “collective goods” which a foreign multinational enterprise (MNE) must have before production can start in a remote area of an emerging…

1398

Abstract

Purpose

This paper aims to determine the essential “collective goods” which a foreign multinational enterprise (MNE) must have before production can start in a remote area of an emerging economy, and to consider the alternative governance modes available to procure or create these goods.

Design/methodology/approach

This purpose is examined conceptually and theoretically. First, the concept of “collective goods” is presented, followed by a consideration of the traditional “buy, ally or make” contractual approaches available to obtain goods and services. These approaches are repositioned in the context of an “emerging economy” so that alternative “ordering systems” as well as “non-contractual” means of obtaining things have to be considered in the context of internalization and reciprocity theories.

Findings

It is difficult to obtain collective goods in remote areas of emerging economies where private ordering prevails and even succeeds but at high transaction costs and with substantial government intervention. However, the use of non-contractual modes of exchange such as reciprocity is available to facilitate exchanges between market MNEs and nonmarket state offices and civil-society associations such as non-governmental organizations with which collaboration is necessary but which cannot be acquired or controlled by MNEs. However, market firms can use philanthropy and lobbying to obtain the help of these nonmarket actors who know how to operate under private and state-ordering systems.

Research limitations/implications

Theoretical implications: Internalization theory explains why MNEs are able to obtain collective goods by providing them “in-house”, while reciprocity theory exemplifies how non-contractual modes of exchange can substitute for the traditional but contractual “buy, ally and/or make”.

Practical implications

Managerial implications: In terms of the organizational structure of the subsidiary of an MNE operating in an emerging economy, it appears that the line functions of procurement, engineering and production may rely more on contractual exchanges with foreign suppliers, while the staff functions of public affairs, government relations and human resources may be more adept at using reciprocal exchange with local suppliers.

Originality/value

The provisioning of the collective goods when a firm builds its facilities in a remote and underdeveloped part of an emerging economy has hardly received any research attention nor have the non-contractual ways – such as reciprocity – available in the context of private ordering to obtain these goods.

Details

PSU Research Review, vol. 1 no. 1
Type: Research Article
ISSN: 2399-1747

Keywords

Content available

Abstract

Details

Library Hi Tech News, vol. 18 no. 6
Type: Research Article
ISSN: 0741-9058

Open Access
Article
Publication date: 10 May 2021

Olusola Joshua Olujobi

This study aims to investigate why anti-corruption statutes are not efficient in Nigeria’s upstream petroleum industry.

6101

Abstract

Purpose

This study aims to investigate why anti-corruption statutes are not efficient in Nigeria’s upstream petroleum industry.

Design/methodology/approach

This study is a doctrinal legal research that embraces a point-by-point comparative methodology with a library research technique.

Findings

This study reveals that corruption strives on feeble implementation of anti-corruption legal regime and the absence of political will in offering efficient regulatory intervention. Finally, this study finds that anti-corruption organisations in Nigeria are not efficient due to non-existence of the Federal Government’s political will to fight corruption, insufficient funds and absence of stringent implementation of the anti-corruption legal regime in the country.

Research limitations/implications

Investigations reveal during this study that Nigerian National Petroleum Corporation (NNPC) operations are characterised with poor record-keeping, lack of accountability as well as secrecy in the award of oil contracts, oil licence, leases and other financial transactions due to non-disclosure or confidentiality clauses contained in most of these contracts. Also, an arbitration proceeding limit access to their records and some of these agreements under contentions. This has also limited the success of this research work and generalising its findings.

Practical implications

This study recommends, among other reforms, soft law technique and stringent execution of anti-corruption statutes. This study also recommends increment in financial appropriation to Nigeria’s anti-corruption institutions, taking into consideration the finding that a meagre budget is a drawback.

Social implications

This study reveals that corruption strives on feeble implementation of anti-corruption legal regime and the absence of political will in offering efficient regulatory intervention. Corruption flourishes due to poor enforcement of anti-corruption laws and the absence of political will in offering efficient regulatory intervention by the government.

Originality/value

The study advocates the need for enhancement of anti-corruption agencies' budgets taking into consideration the finding that meagres budgets are challenge of the agencies.

Details

Journal of Money Laundering Control, vol. 26 no. 7
Type: Research Article
ISSN: 1368-5201

Keywords

Content available
Article
Publication date: 1 February 2005

Stephen Todd

78

Abstract

Details

Structural Survey, vol. 23 no. 1
Type: Research Article
ISSN: 0263-080X

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