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The Supreme Court’s decision in Federal Trade Commission v. Actavis, Inc. is a challenge to conventional antitrust analysis. Conventional civil antitrust cases are decided by a preponderance of the evidence. This means that conduct challenged under the rule of reason is only condemned if the conduct resulted in more competitive harm in the actual world than a world without the alleged violation. Under conventional analysis, the intent of the parties also plays only a supporting role in determining whether the conduct was anticompetitive. A holder of a valid patent has a right to exclude others practicing the patented technology. And, the patent holder is not assumed to have market power because it expended resources in maintaining exclusionary rights. Actavis creates doubts about these propositions in circumstances beyond the “reverse” payment settlement of a patent suit that may have delayed an alleged infringer market entry. This chapter explores whether applying Actavis logic to antitrust litigation can result in condemnation of practices where there is little chance of an anticompetitive effect, where the patent holder likely has a valid and infringed patent, where there is little reason to believe that the patent holder has market power, and where only one party, or no parties, to an agreement have an anticompetitive intent. This chapter also investigates whether Actavis creates new problems with standing analysis, damages calculations, and the balancing of efficiencies against anticompetitive effects. Nevertheless, the lower courts have begun to extend the logic of Actavis. This is apparent in the condemnation of no-Authorized-generic settlements.

The purpose of this paper is to calculate the net gains or losses for the ASEAN Members 1998‐2007 in the East Asian market.

This paper provides a new extension to the shift‐share analysis to attribute the net shift to competing economies with a dynamic approach. This new extension is applied to analyze the competition among the ASEAN members in the East Asian market for the year from 1998‐2007.

Although in terms of market share, Indonesia and Malaysia take the lead in East Asia, the dynamic shift‐share analysis suggests that the Philippines, Thailand and Malaysia are gainers during 1998‐2007, with positive net shifts and positive competitiveness effects.

There are two main contributions of this paper: one is to dynamically estimate the net shifts of the economies as compared to the traditional comparative static approach; the other is to extend the shift‐share analysis to attribute the net gains or losses to competing exporters.

This paper therefore aims at systematically estimating the agricultural trade induced farm employment effects in China.

Using detailed agricultural trade and production data during 1994‐2009, the authors estimate the “labor contents” of agricultural trade flows and use these estimates to compute the farm employment effects.

The authors find that China's agricultural trade has indeed generally developed along its widely believed comparative advantages and disadvantages; however, the farm employment “creation” effect due to labor‐intensive exports has actually been dominated by the employment “substitution” effect due to increased land‐intensive imports, thereby mostly resulting in negative net farm employment in the post‐WTO accession era.

Findings from this first systematic attempt to estimate the trade‐induced farm employment effects do not lend support to the popular notion that increased agricultural trade would help increase farm employment and have important implications for evaluating current and future trade policy in China and elsewhere.

We analyze reactions to the U.S. government-led repression of WikiLeaks in late 2010 by actors such as Anonymous and the Pirate Parties to argue that the potential for backlash, which has been so prominent offline, is also a potential repercussion of repression online. In doing so, we use existing research to identify different ways in which bystanders might be pulled into conflicts, and examine our case for evidence of any of these forms of backlash. We also hypothesize that the net observed effect of repression is really the result of competing and/or amplifying backlash and deterrence effects; when this net effect is in favor of backlash, we call it a “net backlash effect” to indicate that there was more backlash than deterrence. We argue that net backlash occurs when repression recruits more bystanders into a conflict than it is able to deter in terms of already active participants. We also argue that backlash is a very likely outcome when Internet activism is repressed.

This study aims to identify which elements of the vending marketing mix are the main sources of competitive advantage for the industry, how they impact vending profitability, and what are their related synergistic effects.

A full factorial experiment was developed to determine the effect of eight marketing mix scenarios on the profitability of a new vending channel in a French university library and assess the synergistic effects among three elements of a marketing mix (i.e. product quality, payment system, internal location) identified in a focus group as new sources of industry competitive advantage.

Although the main effects of product quality and payment system were weak-to-modest and insignificant, their interaction effect significantly impacted the daily net profit of the vending channel and generated the highest net synergy. The results partially challenge the marketing synergy axiom as internal location separately had a stronger impact on profitability than product quality and higher-order interaction effects do not necessarily translate into higher synergistic effects.

This research was conducted in a real-life setting and has its limitations, which future researchers can overcome by extending the temporal, geographic and product scope of the study.

The distinction that we introduced between gross and net synergy allowed us to partially challenge the prevailing marketing mix assumption that synergy is always positive (i.e. that a vending retailer can achieve synergy by selecting a combination of marketing mix elements instead of relying on them separately). Moreover, by demonstrating that marketing synergy is not a uni- but a bi-dimensional concept, we provide vending retailers with a better methodological understanding of why they may have already fallen into the synergy trap and how to avoid it in the future.

The purpose of this paper is to focus on alternative accounting treatments over time to assess their impact on the level of conservatism in a comparison between Italian local accounting standards and USA generally accepted accounting principles.

A case study approach is adopted to investigate the accounting adjustments applied to net income and shareholders’ equity as included in the Form 20-F reconciliations reported by all Italian firms that were listed on a US market over the period 1999-2008. The methodology first introduced by Gray (1980) and frequently applied over 30 years to several international accounting comparisons is adapted to recognise a multi-period dimension of the accounting choice. In particular, the paper focuses on the temporal dimension of such adjustments in order to capture their attitude to reverse or become permanent over time.

The results show that the level of conservatism is visible in the measurement of net assets and is shaped by the prevailing directional effect of accounting adjustments that become permanent as their cumulative reversal is persistently delayed. Such a phenomenon arises and intensifies when the accounting differences relate to recurring operations and/or to long-term assets and liabilities. Amongst them those violating the clean surplus relation are the most controversial as they not only generate a permanent effect in the measurement of net assets, but also an opposite permanent effect in the measurement of earnings.

Future empirical research confirming the finding in different contexts might overcome the limitations of a relatively poor number of observations in the case study.

Identifying the duration of alternative accounting treatments is relevant to assess their potential influence on stakeholders decision-making process as this may steadily influence the future of a firm.

The propositions express a sequence of the timing effects of alternative accounting treatments that highlight the primary role of permanent differences in persistently shaping the value of net assets and help to provide a less erratic interpretation of the level of conservatism.

This paper suggests that private investment expenditure is determined by the changes in domestic credit and net capital inflow to the private sector. Any increase in government investment increases private investment through the increase in the changes in private output (contributory effect) and decreases private investment through the decrease in the availability of the banking system's domestic credit and net inflow of capital to the private sector.

Nobody disputes the risk‐reducing effect of netting agreements in over‐the‐counter (OTC) derivative contracts. There is an evident interest for banking supervisors to promote such agreements, in order to improve the soundness of banks. The European Union (EU) has started to recognise this in its Solvency Ratio Directive of December 1989, limiting it to certain contracts of netting by novation. But, the Basle Committee consider that all netting agreements by novation and close out netting should be recognised as risk reducing. The European Commission has followed this advice and proposed two directives, one of which was adopted in March 1996, in order to align European regulation with the Basle guidelines. However, the European Commission has gone still further and, in May 1996, proposed a directive which will also make most of the netting agreements enforceable in the case of failure of one of the parties. As the above texts address mostly bilateral netting, with the emergence of multilateral netting, both the European Commission and the Basle supervisors have decided to try to apply to such agreements the rules on bilateral netting with some adaptations, through interpretation notes. Only the experience of the coming years will show if legislation is needed for the prudential recognition of multilateral netting.

The purpose of this paper, on Portugal, is to determine the economic effects of public and private capital spending on health.

The authors use a vector autoregressive model to estimate the elasticities and marginal products of health care investments in Portugal on investment, employment and output.

Every €1m invested in health care yields significant positive spillover effects, boosting investment and GDP by €24.74 and €20.45m, respectively, creating 188 net jobs. Adversely, net exports deteriorate, as new capital goods are imported. While only 28.2 percent of the total accumulated increase in GDP occurs within a year, investment is front loaded with a corresponding 73.8 percent. Over this period, 68 workers are displaced for every €1m invested. At a disaggregated level, real estate, construction, and transportation and storage are industries where output shares increase the most. Employment shares increase the most in professional services, construction and basic metals.

This paper adds to the empirical literature, corroborating, for example, Rivera and Currais (1999a) and McDonald and Roberts (2002) in that health care spending can have a very significant effect on macroeconomic aggregates. In addition to the analysis of the tradable/non-tradable divide, it adds two further novelties by discussing industry-specific effects on economic performance and the distinction between effects on impact and those over the longer term.

As policy implications, health investments have very significant long-term economic performance effects, but are unhelpful counter cyclically. Also, they will change the industry mix: construction and professional services are the non-traded industries that will benefit the most, while the traded industries of non-metallic minerals, basic metals, and machinery and equipment benefit much less.

Given that capital spending on health boosts economic performance, especially in the long run, it ought to be a part of Portugal’s medium-to-long-term growth strategy. Also, if these projects depress economic activity in the short run, and are thus unhelpful counter cyclically, the timing of when they are launched matters. Furthermore, following a health investment, policies that boost net exports will be required to ensure trade balance.

The originality of this paper is to estimate, in a dynamic framework, the aggregate and industry-specific elasticities and marginal products on investment, employment and output, allowing the identification of effects both on impact and over the long term. Although health care investments are expected to have important macroeconomic effects, they need not be evenly distributed across industries.

Scholarship on the effects of various kinds of state repression (e.g., counterterrorism, counterinsurgency, protest policing) on subsequent dissent has produced a body of contradictory findings. In an attempt to better understand the effects of one form of state repression – protest policing – on one form of dissent – public protest – this paper examines the effects of various policing strategies used at protest events on subsequent protest levels in the United States between 1960 and 1990. Theoretically, we argue the effects of repression cannot be broadly theorized but instead need to be hypothesized at the level of particular police strategies and actions. We theorize and empirically examine the impacts of five police strategies, while also improving on prior analyses by producing a comprehensive model that examines lagged and nonlinear effects and examines the effects across the entire social movement sector, as well as across two specific movement industries. Results (1) confirm that not all police strategies have the same effects; (2) show that policing strategies tend to have predominately linear effects; (3) show that police actions have their strongest effects in the very short term, with few effects detectable after a few weeks; and (4) point to interesting differences in the effects of policing strategies on subsequent protest across different social movements.