Search results

1 – 10 of over 52000
To view the access options for this content please click here
Article
Publication date: 8 June 2015

Alexander Styhre and Rebecka Arman

Institutional theorists treat law and regulations as external factors that is part of the organization’s environment. While institutional theory has been criticized for…

Abstract

Purpose

Institutional theorists treat law and regulations as external factors that is part of the organization’s environment. While institutional theory has been criticized for its inability to recognize the role of agents and to theorize agency, the growing literature on institutional work and institutional entrepreneurship, partially informed by and co-produced with practice theory, advances a more dynamic view of processes of institutionalization. In order to cope with legal and regulatory frameworks, constituting the legal environment of the organization, there are evidence of organizational responses in the form of bargaining, political negotiations, and decoupling of organizational units and processes. The purpose of this paper is to report how legal and regulatory frameworks both shape clinical practices while at the same time they are also informed by the activities and interests of professional communities and commercial clinics.

Design/methodology/approach

This paper reports an empirical study of the Swedish-assisted conception industry and is based on a case study methodology including the use of interviews and formal documents and reports issues by governmental agencies.

Findings

The empirical material demonstrates how scientists in reproductive medicine and clinicians regard the legal and regulatory framework as what ensures and reinforces the quality of the therapies. At the same time, they actively engage to modify the legal and regulatory framework in the case when they believe it would benefit the patients. The data reported presents one successful case of how PGD/PGS can be used to develop the efficacy of the therapy, and one unsuccessful case of regulatory change in the case of patient interest groups advocating a legalization of commercial gestational surrogacy. In the former case, scientific know-how and medicinal benefits served to “push” the new clinical practice, while in the latter case, the “demand-pull” of patient interest groups fails to get recognition in regulatory and policy-making quarters.

Originality/value

The study contributes to the literature on agency in institutional theory (e.g. the emerging literature on institutional work) by emphasizing how legal and regulatory frameworks are in a constant process of being modified and negotiated in the face of novel technoscientific practices and social demands. More specifically, this process include many scientific, technological, economic, political and social relations and resources, making the legal environment of organizations what is the outcome from joint negotiations and agreements across organizational and professional boundaries.

Details

Qualitative Research in Organizations and Management: An International Journal, vol. 10 no. 2
Type: Research Article
ISSN: 1746-5648

Keywords

To view the access options for this content please click here
Article
Publication date: 12 November 2020

Zakariya Mustapha, Sherin Binti Kunhibava and Aishath Muneeza

The purpose of this paper is to review the literature on Islamic finance vis-à-vis legal and Sharīʿah non-compliance risks in its transactions and judicial dispute…

Abstract

Purpose

The purpose of this paper is to review the literature on Islamic finance vis-à-vis legal and Sharīʿah non-compliance risks in its transactions and judicial dispute resolution in Nigeria. This is with a view to putting forward direction for future studies on the duo of legal and Sharīʿah non-compliance risks and their impact in Islamic finance.

Design/methodology/approach

This review is designed as an exploratory study and qualitative methodology is used in examining relevant literature comprising of primary and secondary data while identifying legal risk and Sharīʿah non-compliance risks of Nigeria’s Islamic finance industry. Using the doctrinal approach together with content analysis, relevant Nigerian laws and judicial precedents applicable to Islamic finance practice and related publications were examined in determining the identified risks.

Findings

Undeveloped laws, the uncertainty of Sharīʿah governance and enforceability issues are identified as legal gaps for Islamic finance under the Nigerian legal system. The gaps are inimical to and undermine investor confidence in Nigeria’s Islamic finance industry. The review reveals the necessity of tailor-made Sharīʿah-based regulations in addition to corresponding governance and oversight for a legally safe and Sharīʿah-compliant Islamic finance practice. It brings to light the imperative for mitigating the legal and Sharīʿah non-compliance risks associated with Islamic finance operations as crucial for Islamic finance businesses, Islamic finance institutions and their sustainable development.

Research limitations/implications

Based on content analysis, the review is wholly doctrinal and does not involve empirical data. Legal safety and Sharīʿah compliance are not to be compromised in Islamic finance operations. The review would assist relevant regulators and investors in Islamic financial enterprises to understand and determine the impact and potential ramifications of legal safety and Sharīʿah non-compliance on Islamic Finance Institutions.

Practical implications

This study provides an insight into the dimensions and ramifications of legal and Sharīʿah non-compliance risks of Nigeria’s Islamic finance industry. This study is premised on the imperative for research studies whose outcome would inform regulations that strike a balance between establishing Islamic financial institution/business and ensuring legal certainty and Sharīʿah compliance of their operations. This study paves way for this kind of research studies.

Originality/value

The findings and discussions provide a guide for regulators and researchers on the identification and mitigation of legal and Sharīʿah non-compliance risks in Islamic finance via a literature review. This study, the first of its kind in Nigeria, advances the idea that research into legal and Sharīʿah non-compliance risks of Islamic financial entities is key to mitigating the risks and fostering the entities and their businesses.

Details

International Journal of Law and Management, vol. 63 no. 2
Type: Research Article
ISSN: 1754-243X

Keywords

Content available
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…

Downloads
3617

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. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2356-9980

Keywords

To view the access options for this content please click here
Article
Publication date: 11 September 2017

Engku Rabiah Adawiah Engku Ali and Umar A. Oseni

In propelling Malaysia to become a high value-added and high-income economy by 2020, the Central Bank of Malaysia has consistently emphasized the need for a new trajectory…

Downloads
1986

Abstract

Purpose

In propelling Malaysia to become a high value-added and high-income economy by 2020, the Central Bank of Malaysia has consistently emphasized the need for a new trajectory of transformation and growth which will leverage on a robust legal framework that for enhancing Islamic financial transactions. This paper aims to examine the latest major policy initiatives and legal reforms introduced to promote both local and cross-border transactions that seek to project Malaysia as a hub for Islamic financial transactions.

Design/methodology/approach

While adopting an analytical approach in analysing the relevant issues, the study relies on doctrinal legal method in highlighting major reforms introduced to enhance the legal and regulatory framework of Islamic finance.

Findings

The study finds that the importance of law reforms in strengthening the financial system cannot be overemphasized, particularly when it comes to the need for an end-to-end Sharīʿah compliance framework and consumer protection.

Practical implications

Other emerging jurisdictions aspiring to adopt Islamic finance products can learn from the Malaysia’s pioneering role in introducing an effective legal and regulatory framework.

Originality/value

Though there are a number of studies on Malaysia’s leading role in the law and regulation of Islamic finance, this study is one of the earliest attempts to explore the role of the Central Bank of Malaysia in enhancing the legal framework for Islamic financial transactions through the introduction of the Islamic Financial Services Act 2013 and other relevant policy regulations.

Details

International Journal of Law and Management, vol. 59 no. 5
Type: Research Article
ISSN: 1754-243X

Keywords

To view the access options for this content please click here
Article
Publication date: 1 April 2017

Marta Andrecka

Provision on framework agreements has been introduced into European Union (EU) Law in 2004. Since then framework agreements have gained popularity and importance on the…

Abstract

Provision on framework agreements has been introduced into European Union (EU) Law in 2004. Since then framework agreements have gained popularity and importance on the European Union (EU) public tender market. Nevertheless, the use of frameworks poses significant legal challenges necessitating the clarification of the governing rules and the introduction of further guidelines. Unfortunately, clarifications were not fully provided in the new Directive 2014/24/EU. This article is a study of legal loopholes and uncertainties that occur during public procurement of framework agreements as a result of current EU rules and national practices in Denmark and the United Kingdom. The article highlights the need for clarification of the existing rules and introduction of transparency to the subsequent call-off stage of framework agreements. To achieve study aims, three methods were applied: a doctrinal analysis, a small scale comparative law research and field research based on qualitative research by the means of semi-structured interviews.

Details

Journal of Public Procurement, vol. 16 no. 4
Type: Research Article
ISSN: 1535-0118

To view the access options for this content please click here
Article
Publication date: 20 July 2010

Marco Arnone and Leonardo Borlini

The purpose of this paper is to present an empirical assessment and outline issues in criminal regulation relating to international anti‐money laundering (AML) programs.

Downloads
3356

Abstract

Purpose

The purpose of this paper is to present an empirical assessment and outline issues in criminal regulation relating to international anti‐money laundering (AML) programs.

Design/methodology/approach

In the first part, this paper outlines the serious threats posed by transnational laundering operations in the context of economic globalization, and calls for highly co‐ordinated international responses to such a crime. The second part of the paper centres on elements of international criminal regulation of ML.

Findings

The focus is on the phenomenological aspect of ML and highlights that to a large extent it is an economic issue. Economic analysis calls for an accurate legal response, with typical trade‐offs: it should deter criminals from laundering by increasing the costs for such illicit operations, calling for enhanced regulatory and enforcement activities; however, stronger enforcement yields increased costs and reduces privacy. These features have lately inspired the recent paradigm shift from a rule‐based regulatory framework to a risk‐based approach which still represents an extremely delicate regulatory. Both at the international level and within the single domestic legal system, AML law is typically characterised by a multidisciplinary approach combining the repressive profile with preventive mechanisms: an empirical evaluation of the International Monetary Fund‐World Bank AML program is presented, where these two aspects are assessed. The non‐criminal measures recently implemented under the auspices of the main inter‐governmental public organisations with competence in these fields seem to be consistent with the insights of economic analysis. However, some key criminal issues need to be better addressed.

Originality/value

The paper offers insights into international AML programs, focusing on criminal regulation.

Details

Journal of Money Laundering Control, vol. 13 no. 3
Type: Research Article
ISSN: 1368-5201

Keywords

To view the access options for this content please click here
Article
Publication date: 18 October 2021

Yudho Taruno Muryanto, Dona Budi Kharisma and Anjar Sri Ciptorukmi Nugraheni

This paper aims to explore the prospects and the challenges of Islamic fintech in Indonesia. This study also proposes a comprehensive legal framework to encourage and…

Abstract

Purpose

This paper aims to explore the prospects and the challenges of Islamic fintech in Indonesia. This study also proposes a comprehensive legal framework to encourage and accelerate the growth of the Islamic economy.

Design/methodology/approach

This study is the result of legal research with a statute approach and conceptual approach. The types of data used are legal materials consisting of primary legal materials and secondary legal materials. The technique of collecting legal materials is done by using library research techniques. The legal materials were analyzed using the legal norm method.

Findings

Indonesia is a country with the largest Muslim population in the world. However, the market size of Indonesia’s Islamic fintech is still below Saudi Arabia, Iran, United Arab Emirates (UAE) and Malaysia. Saudi Arabia’s Islamic fintech is the biggest market in the world, with $17.9bn worth of transactions in 2020 while Iran is at $9.2bn, UAE $3.7bn, Malaysia $3.0bn and Indonesia $2.9bn. This condition was due to various challenges in the Islamic fintech industry in Indonesia, including inadequate regulations; complicated permit procedures; misuse of fintech for financing terrorism; rampant occurrence of illegal fintech businesses; and consumer disputes in the fintech sector. These challenges require the construction of a comprehensive legal framework through the formation of an Act on Fintech.

Research limitations/implications

The focus of this research was limited to the problems occurring in the Islamic fintech sector in Indonesia as a country with the largest Muslim population in the world.

Practical implications

The results of this research can be used as recommendations for the formulation of comprehensive policies for the growth and development of Islamic fintech.

Social implications

Islamic fintech requires a comprehensive legal framework that functions to encourage the development of the Islamic fintech industry, digital economy growth and legal mitigation of various legal risks and misuse of fintech for financial crime and financing terrorism.

Originality/value

This paper proposes an original idea of creating a legal framework in a form of the Islamic Fintech Act. The Act should cover such legal substances as follows: Islamic compliance; an integrated one-stop permit procedure; division of authority, coordination and synergy among authorities; prevention and resolution of digital financial system crisis; criminal sanctions; and consumer dispute resolution mechanisms and alternative institution for fintech consumer dispute resolution.

Details

International Journal of Law and Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1754-243X

Keywords

To view the access options for this content please click here
Article
Publication date: 13 April 2010

Weigang Li, Jixiang Chen and Dongying Wu

The purpose of this paper is to explore the role of legal institution building during the process of China's economic miracle of past three decades.

Downloads
717

Abstract

Purpose

The purpose of this paper is to explore the role of legal institution building during the process of China's economic miracle of past three decades.

Design/methodology/approach

To engage with the issue, the paper builds on historical research and comparable approaches which explore the interactions of legal institution building and economic reforms in China.

Findings

Legal institution building is not only a passive factor that can make up market failures in developing countries. Studies on China case find that legal institution building in China has often been taken as a tool to realize the ruling party's political commitment of economic development.

Research limitations/implications

The paper takes only one country – China as the case to explore the interactions of legal institution building and economic development. Owing to most China's peculiar characteristics, more cases should be studied in order to examine a much clearer result, which might shed lights on the current reforms of a lot of developing countries.

Practical implications

The argument of the paper, that legal institution building can be employed as an active tool to drive economic development if designed properly, broadens policy pools for developing countries that are in a strive to fight against poverty reduction.

Originality/value

The paper opens a new arena to re‐examine the role of legal building for economic development in developing countries. Also, it develops a unique perspective to explore the myth of China's economic miracle.

Details

International Journal of Development Issues, vol. 9 no. 1
Type: Research Article
ISSN: 1446-8956

Keywords

To view the access options for this content please click here
Article
Publication date: 31 May 2021

George E. Halkos and Stylianos N. Nomikos

This paper reviews and analyzes the corporate social responsibility (CSR) legal framework worldwide, discussing the new CSR definition which comprises legal features and…

Abstract

Purpose

This paper reviews and analyzes the corporate social responsibility (CSR) legal framework worldwide, discussing the new CSR definition which comprises legal features and debates for and against CSR validation. The work contributes in linking CSR and corporate laws by considering the legislative approaches worldwide.

Design/methodology/approach

CSR has mostly a voluntary character whilst it entails a normative condition attributable to social and market demands. A detailed examination of CSR worldwide is presented paying attention to international CSR legal framework in Europe, USA, Asia, Africa and Australia. Arguments for and against CSR legalization are studied.

Findings

The authors show that more regulations have to be launched mainly concerning the consequences of corporations' activities impacting the environment. Governments should promote CSR and relative encouragements focusing on a win-win state of affairs for companies.

Research limitations/implications

It seems that in the future, more regulations will be established particularly concerning the effect of companies' activities toward the environment. Little research has been conducted on the legal aspect of CSR; therefore, future research should focus on this, providing new insights. Analysis in sector level will be helpful and instructive.

Practical implications

Many further disputes have to be worked out to set up and support arrangements which will direct and observe conversions into sustainable, habitable and low pollution.

Originality/value

The authors examine and discuss in details CSR schemes around the world concentrating to the international CSR legal framework in Europe, the USA, Asia, Africa and Australia. At the same time, the authors study the arguments for and against CSR legalization.

Details

Management of Environmental Quality: An International Journal, vol. 32 no. 4
Type: Research Article
ISSN: 1477-7835

Keywords

To view the access options for this content please click here
Article
Publication date: 24 April 2007

Vincent Onyango and Michael Schmidt

This paper sets out to assess and analyses the key pillars of the SEA framework in Kenya, highlighting aspects that should be considered for further scrutiny and review…

Downloads
1290

Abstract

Purpose

This paper sets out to assess and analyses the key pillars of the SEA framework in Kenya, highlighting aspects that should be considered for further scrutiny and review, aiming at evolving a suitable context‐specific Kenyan SEA.

Design/methodology/approach

Content analysis of the SEA framework was done through desktop research. This was supplemented by a two‐month internship at the National Environmental Management Authority in Kenya. The key documents prescribing and describing SEA in Kenya (legal documents, guidelines) formed a basis for interpretative analysis. International literature on SEA frameworks also formed a basis for analysis.

Findings

Although the SEA framework is relatively complete, there are certain elements that are incomplete, e.g. environmental and sustainability standards have not been formally established. Some provisions are unclear or reveal internal incoherency within the framework. For example, the definitions of policies, plans, programmes and projects are not clearly differentiated for the purpose of the SEA framework. The framework is premised on “an early SEA” yet the key exercises of public participation and the triggering of the SEA exercise are both carried out late. There is need for SEA‐EIA tiering and SEA definitions and purposes to be harmonized within the various documents of the framework. Sector‐level SEA guidelines offer the most appropriate opportunity to address most of the substantive shortcomings of the framework.

Practical implications

The results provide a baseline for departure towards further scrutiny and research in order to evolve a more homegrown SEA, as opposed to merely copyng what other countries have done. The highlighted areas are expounded on, with some suggestions given; in some instances no clear remedy is immediately obvious.

Originality/value

The paper is a seminal instigator of interest into the Kenyan SEA framework, which is still very young and devoid of experience and tradition. It brings to light and questions some key issues that seem to have the potential to reduce the benefits and instrumentality of the SEA tool in meeting Kenya's interest.

Details

Management of Environmental Quality: An International Journal, vol. 18 no. 3
Type: Research Article
ISSN: 1477-7835

Keywords

1 – 10 of over 52000