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1 – 10 of over 8000Benny Hutahayan, Mohamad Fadli, Satria Amiputra Amimakmur and Reka Dewantara
This study aims to analyze the causes and implications of legal uncertainty in the issuance of conventional municipal bonds in Indonesia and to draw lessons from Vietnam’s…
Abstract
Purpose
This study aims to analyze the causes and implications of legal uncertainty in the issuance of conventional municipal bonds in Indonesia and to draw lessons from Vietnam’s approach in providing better legal certainty.
Design/methodology/approach
This study adopts a normative legal method with a legislative approach and applies a comparative approach. Data sources involve primary and secondary legal materials from both Indonesia and Vietnam.
Findings
The legal uncertainty is caused by a lack of coherence and consistency in legislation. Based on Vietnam’s experience, Indonesia can gain valuable insights related to providing strong legal certainty for parties involved in issuing or investing through conventional municipal bonds.
Research limitations/implications
This study focuses on the comparative legal analysis of conventional municipal bonds in Indonesia with Vietnam.
Practical implications
This research provides recommendations for the refinement of legislation regarding conventional municipal bonds to the government.
Social implications
This study is related to legal certainty as a strategy to attract investment through municipal bonds and to ensure the municipal bond issuance process is transparent and efficient.
Originality/value
This study provides a comparative perspective on the issuance of municipal bonds in Indonesia, with a special focus on Vietnam, emphasizing the urgency of harmonization in legal regulation and the sustainability of legal certainty.
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Dick Carpenter, Kyle Sweetland, Emily Vargo and Ethan Bayne
The purpose of this paper is to discuss new findings on municipal-level occupational licensing and other forms of regulation and introduce a new data set available for researchers…
Abstract
Purpose
The purpose of this paper is to discuss new findings on municipal-level occupational licensing and other forms of regulation and introduce a new data set available for researchers to study this largely unexplored area.
Design/methodology/approach
Municipal occupational regulatory data were gathered in 2017 and 2018 from the 50 largest cities in the USA. Data available in the data set include city and state IDs, occupational IDs, requirements associated with the regulations (e.g. education, experience and fees), penalties for practicing without meeting the requirements, regulatory type and NAICS category. Descriptive statistics are used to present information about the number and types of occupations regulated and the number and types of regulations present in the cities.
Findings
The median number of occupations regulated by a city is 24.5, but the numbers per city vary substantially. The 1,832 occupations in the data set are distributed across every NAICS category. The most prevalent form of regulation is registration; certification is least used. Cities are quite diverse in the types of regulations applied to occupations, and the type of regulation varies substantially by industry type.
Originality/value
Research on licensing is dominated by state-level analyses. Largely absent are systematic analyses of licensing and other regulation at the municipal level, likely due to a lack of data. This means the current licensing literature underestimates – perhaps severely so – the prevalence, burdens and effects of licensing. The data introduced and discussed in this paper can help remedy this dearth of municipal licensing analyses.
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This paper aims to measure the trade price impact of a recent regulatory disclosure intervention in municipal securities secondary markets, which required broker-dealers to…
Abstract
Purpose
This paper aims to measure the trade price impact of a recent regulatory disclosure intervention in municipal securities secondary markets, which required broker-dealers to disclose securities trading information on a near-real-time and continuing basis.
Design/methodology/approach
The author analyzes trade price outcomes in the preintervention and postintervention regimes using a suite of time series estimations that give heteroskedasticity-robust standard errors (Prais–Winsten and Cochrain–Orcutt), accommodate higher-order lag structure in the error term (autoregressive integrated moving average) and account for volatility clustering in the time series (generalized autoregressive conditional heteroskedasticity).
Findings
Results show that regulatory disclosure intervention significantly improved trade price efficiency in municipal securities secondary markets as daily trade price differential and volatility both declined market-wide after the disclosure intervention.
Research limitations/implications
The sample consists of trades in State of California general obligation bonds; therefore, empirical findings may not be generalizable to other states, local governments and different types of bonds.
Practical implications
The findings highlight voluntary information disclosure as a practical and effective mechanism in disclosure regulation of municipal securities secondary markets.
Originality/value
Only a small body of work exists that examines information disclosure regulation in municipal securities secondary markets; therefore, this paper expands knowledge on the topic and should provide renewed impetus for regulatory efforts aimed at improving the efficiency of municipal capital markets.
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Kate Parizeau and Josh Lepawsky
– This paper aims to investigate by what means and to what ends waste, its materiality and its symbolic meanings are legally regulated in built environments.
Abstract
Purpose
This paper aims to investigate by what means and to what ends waste, its materiality and its symbolic meanings are legally regulated in built environments.
Design/methodology/approach
The authors investigate the entanglement of law and the built environment through an analysis of waste-related legal case studies in the Canadian context. They investigate a notable Supreme Court case and three examples of Canadian cities’ by-laws and municipal regulations (particularly regarding informal recycling practices). They mobilize what Valverde calls the work of jurisdiction in their analysis.
Findings
The authors argue that the regulation of waste and wasting behaviours is meant to discipline relationships between citizens and governments in the built environment (e.g. mitigating nuisance, facilitating service provision and public health, making individuals more visible and legible in the eyes of the law and controlling and capturing material flows). They find that jurisdiction is used as a flexible and malleable legal medium in the interactions between law and the built environment. Thus, the material treatment of waste may invoke notions of constraint, freedom, citizenship, governance and cognate concepts and practices as they are performed in and through built environments. Waste storage containers appear to operate as black holes in that they evacuate property rights from the spaces that waste regularly occupies.
Originality/value
There is scant scholarly attention paid to legal orderings of waste in built environments. This analysis reveals the particular ways that legal interventions serve to construct notions of the public good and the public sphere through orderings of waste (an inherently indeterminate object).
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Anisa Nurul Kartikasari and Bambang Hari Wibisono
Urban conservation is an integral part of urban development planning and it is incorporated into land use rules and plans. In order to achieve the goals of an ideal heritage…
Abstract
Purpose
Urban conservation is an integral part of urban development planning and it is incorporated into land use rules and plans. In order to achieve the goals of an ideal heritage conservation policy, there are spatial plans, building codes and relevant regulations that should be well prepared as reference for development projects. Kota Lama Semarang (Old City of Semarang) area has been recognized as part of the origin of the development of Semarang City, the capital city of Central Java. This area has been designated as a cultural heritage area both at the city and national level since 2020. The Heritage City Conservation Program (P3KP) encourages Kota Lama Semarang Area to experience fairly massive development since 2013. On one hand, to control and manage the area, the Semarang City Government issued several official planning documents, i.e. (a) Kota Lama Semarang Area RTBL documents (2003); (b) Kota Lama Semarang Grand Design (2011); and (c) Kota Lama Semarang Site RTBL (2020), which consecutively were used as references of development projects. On the other hand, the results of development projects indicated that there are no coherent physical improvements in the area. The study was conducted to show whether there are consistencies or mismatches between the three planning documents.
Design/methodology/approach
This study used a qualitative deductive method with content analysis technique to compare three planning documents, using the predetermined variables.
Findings
The results showed that the consistency between the three planning documents was not fully demonstrated, but they are mutually interconnected.
Research limitations/implications
The research focused only on three formal planning documents, for which comparative analysis was undertaken using content analysis to identify consistencies and inconsistencies based on determined 9 variables.
Practical implications
Good planning documents should be consistent, since they are used as development references. Inconsistencies among planning documents produced segmented urban environments in Kota Lama Semarang Area/Site, which are mostly due to the different institutions preparing the documents.
Social implications
The segmented urban development in the area has reduced the historical and cultural values of the area. Revitalization program that was undertaken has some implication to the sustainability of the local economy.
Originality/value
The paper explores both the consistencies and mismatches among the three planning documents, which have been used as references in implementing development projects in Kota Lama Semarang Area. Failures in maintaining consistencies among documents are supposed to produce inconsistent physical development in the area, unless adjustment to current development has to be made.
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João Branco Pedro, Frits Meijer and Henk Visscher
The purpose of this paper is to provide a critical review of the building regulations and the building control system in Portugal. The organisation, content, and authorities…
Abstract
Purpose
The purpose of this paper is to provide a critical review of the building regulations and the building control system in Portugal. The organisation, content, and authorities responsible for building regulations are described and an overview is provided of the main stages of the building permit procedure.
Design/methodology/approach
The paper reviews the relevant legal and regulatory provisions and discusses these in the context of commentary published by the various professional associations.
Findings
The Portuguese building regulation system has undergone significant changes in the last 20 years. Almost all building regulations currently in force are approved during that period. Some of these are resulted from the implementation of European Directives. Others are changed due to advances in scientific knowledge. Changes in the building control system have mainly been driven by the changing demands of present‐day practice, in particular, the absence of sufficient municipal technicians, and the need to expedite building control procedures. The solution has been to move away from public building control and to make private parties responsible for compliance with building regulations. The paper concludes that, although there have been significant improvements in the building regulation system over recent years, two structural problems nevertheless persist. First, building regulations continue to be complex and fragmented, and second the qualifications of technicians are still not adequately defined.
Originality/value
A structured overview of the system is provided and the main weaknesses are identified. The proposals for change are suggested by professional associations are summarised, and possible improvements are suggested.
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Rosamaria Olivadese, Hilde Remøy, Carlo Berizzi and Fred Hobma
The need to speed up and simplify the practice of transformation and the topic of reuse is crucial in Italy. The purpose of this paper is to compare successful cases of reuse into…
Abstract
Purpose
The need to speed up and simplify the practice of transformation and the topic of reuse is crucial in Italy. The purpose of this paper is to compare successful cases of reuse into housing in Italy and the Netherlands, in order to suggest improvements to the Italian situation.
Design/methodology/approach
Previous research at the University of Pavia showed the need to change living standards for new residential buildings. This research focusses on existing buildings and gives a comparative analysis of the Italian and Dutch legislation for residential buildings. Interviews with professionals have been conducted in Italy and the Netherlands to better understand the differences and problems related to housing regulations. Good examples of reuse into housing have been studied to define common guidelines for intervention.
Findings
The findings describe the building regulations in Italy and the Netherlands concerning adaptive reuse, and reveals differences between the two countries. Furthermore, the possibilities and barriers for the reuse of existing buildings are highlighted.
Practical implications
Lessons are drawn from both contexts, and finally suggestions for improvement of the regulatory system are made for Italy and the Netherlands.
Originality/value
This paper aims at revealing the opportunities and barriers of reuse in Italy and the Netherlands. So far, studies were performed to reveal the feasibility of adaptive reuse, though none of these focussed specifically on legal issues. No sufficient studies are performed so far on reuse into housing in Italy, and the comparison of the regulatory systems of the two countries is novel.
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This chapter examines the history and evolution of land use regulation in the United States. The economic effect and influence on neighborhood composition is considered. The work…
Abstract
This chapter examines the history and evolution of land use regulation in the United States. The economic effect and influence on neighborhood composition is considered. The work of political theorists Antonio Gramsci and Michel Foucault is utilized to analyze the practice of zoning in the United States. An overview of the Standard Zoning Enabling Act, which sets the foundation for zoning within the United States, is presented. Michel Foucault’s notion of “disciplinary power” and Gramsci’s theory of “environmental hegemony” are highlighted to elucidate how land use regulations have operated to enhance the social and economic status of some populations, while limiting the opportunities of others. The potential for changing land use polices is also discussed.
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Emmanuel Innocents Edoun and Genevieve Fotso Bakam
As South Africa (SA) increasingly becomes overwhelmed by natural disasters, understanding disaster risk reduction (DRR) policies, institutions, processes and practices and their…
Abstract
As South Africa (SA) increasingly becomes overwhelmed by natural disasters, understanding disaster risk reduction (DRR) policies, institutions, processes and practices and their effects on disaster risk management (DRM) are incumbent The study reviews and empirically analyses policies, institutional frameworks and processes for disaster management in SA. Content analysis is applied to review topical secondary data, while a structured questionnaire informed by the Sendai Framework for Disaster Risk Reduction is used to collect quantitative data from a random sample of 228 disaster policy actors from five disaster-stricken metropolitan cities in five provinces in SA, namely North-West, Free State, KwaZulu-Natal, Limpopo and Mpumalanga. Empirical data were analysed using the Statistical Package for the Social Sciences (SPSS) software. Research findings reveal that SA is endowed with rich institutional policy and legal frameworks for DRM, based on the concepts of decentralisation and stakeholder participation. A positive and strong correlation between institutional framework, disaster risk identification and prioritisation, knowledge creation and management (KCM) as well as the disaster governance and DRM in SA (p = 0.000). Although the coefficient of KCM is not statistically significant, DRM behaviour was influenced at 87.2% by all four variables. Based on the recent disaster experiences and the above results, we advocate for DRR to be continuously prioritised at national and decentralised levels, to enhance effective preparedness, mitigation, disaster response and resilience building practices in SA.
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