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Article
Publication date: 1 March 2002

Cynthia Sneed

This study investigates the relationship between different levels of state balanced budget laws and state borrowing costs. Using federal guidelines for state balanced budget law…

Abstract

This study investigates the relationship between different levels of state balanced budget laws and state borrowing costs. Using federal guidelines for state balanced budget law classifications, this author inserted dichotomous variables in an empirical model of state borrowing costs. Ordinary Least Squares Regression is utilized to determine which balanced budget laws are recognized in state interest costs. The results indicate a significant relationship between the most restrictive levels of balanced budget laws and state borrowing costs. The strongest balanced budget laws are associated with lower interest costs while the weakest budget laws are associated with higher costs. It appears that taxpayers in states with weaker balanced budget amendments may not be as protected against excessive government growth as those in states with the most stringent balancing requirements.

Details

Journal of Public Budgeting, Accounting & Financial Management, vol. 14 no. 2
Type: Research Article
ISSN: 1096-3367

Article
Publication date: 1 April 2004

Georgios I. Zekos

Investigates the differences in protocols between arbitral tribunals and courts, with particular emphasis on US, Greek and English law. Gives examples of each country and its way…

9284

Abstract

Investigates the differences in protocols between arbitral tribunals and courts, with particular emphasis on US, Greek and English law. Gives examples of each country and its way of using the law in specific circumstances, and shows the variations therein. Sums up that arbitration is much the better way to gok as it avoids delays and expenses, plus the vexation/frustration of normal litigation. Concludes that the US and Greek constitutions and common law tradition in England appear to allow involved parties to choose their own judge, who can thus be an arbitrator. Discusses e‐commerce and speculates on this for the future.

Details

Managerial Law, vol. 46 no. 2/3
Type: Research Article
ISSN: 0309-0558

Keywords

Article
Publication date: 1 February 1998

Philip Summe and Kimberly A. McCoy

Throughout the history of commerce, individuals have searched for informational advantages that will lead to their enrichment. In a time of global capital markets, 24 hours a day…

Abstract

Throughout the history of commerce, individuals have searched for informational advantages that will lead to their enrichment. In a time of global capital markets, 24 hours a day trading opportunities, and a professional services corps of market experts, informational advantages are pursued by virtually every market participant. This paper examines one of the most vilified informational advantages in modern capital markets: insider trading. In the USA during the 1980s, insider trading scandals occupied the front pages of not only the trade papers, but also quotidian tabloids. Assailed for its unfairness and characterised by some as thievery, insider trading incidents increased calls for stricter regulation of the marketplace and its participants. In the aftermath of the spectacular insider trading litigation in the USA in the late 1980s, many foreign states began to re‐evaluate the effectiveness of their own regulatory structures. In large part, this reassessment was not the produce of domestic demand, but constituted a response to American agitation for increased regulation of insider trading.

Details

Journal of Financial Crime, vol. 5 no. 4
Type: Research Article
ISSN: 1359-0790

Article
Publication date: 13 November 2017

Zeina Ahmad and Bashar H. Malkawi

The World Trade Organization (WTO) is one of the best dispute settlement mechanisms in the world. Under WTO rules, aggrieved parties must establish a “prima facie” case before the…

Abstract

Purpose

The World Trade Organization (WTO) is one of the best dispute settlement mechanisms in the world. Under WTO rules, aggrieved parties must establish a “prima facie” case before the panel can call on the offending party to respond to the claims. The objective of the present study is to critically evaluate the application of the concept of burden of proof under WTO dispute settlement mechanism.

Design/methodology/approach

The paper examines the rule of “prima facie” in WTO jurisprudence. To do so, the first part will focus on the development of dispute settlement within WTO. The second part is divided into several subsections that will focus on the burden of proof concept, burden of proof in common law, burden of proof in civil law and the prima facie standard.

Findings

The DSU does not explicitly regulate how to allocate the burden of proof, but panels and the AB needed to address that issue early in their history. Despite this, all aggrieved parties to establish a prima facie case before the case can become the subject of a panel hearing. There is a need to adopt a burden of proof standard that assesses evidence on the basis of preponderance of the available evidence rather than on the basis of a party’s failure to adduce evidence to back up or dispute a claim.

Originality/value

The paper is an attempt to address an important issue on the presentation of evidence and proof in international litigation, i.e. WTO.

Details

International Journal of Law and Management, vol. 59 no. 6
Type: Research Article
ISSN: 1754-243X

Keywords

Article
Publication date: 31 May 2013

Liz Thach, Steve Cuellar, Janeen Olsen and Tom Atkin

The purpose of this paper is to compare and contrast wine sales in neighboring franchise law and non‐franchise law states in order to determine impact on wine price, consumer…

Abstract

Purpose

The purpose of this paper is to compare and contrast wine sales in neighboring franchise law and non‐franchise law states in order to determine impact on wine price, consumer choice, consumer satisfaction, and stakeholder perception.

Design/methodology/approach

The study used qualitative interviews with 14 wineries, distributors, and retailers, statistical analysis of Nielsen Scantrack data, and an online survey of 401 wine consumers in Georgia and Florida, USA.

Findings

Results show statistical proof that Florida offers more wine selection and lower wine prices on matching brands than Georgia. Qualitative interviews indicate wineries, distributors, and retailers perceive differences in wine choice, price, and overall operating costs in these two states. However, there was no statistical difference between a sample of 401 consumers from Georgia and Florida when asked about their satisfaction level with wine choice and pricing within their state.

Research limitations/implications

For practical purposes, the research was limited to only two US states. It would be useful to duplicate this study in other states.

Practical implications

Practical implications include the need for new wineries desiring to enter franchise law states to carefully research regulations and distributors before making a commitment, as well as the social issue of less wine choice and higher prices for consumers in Georgia versus Florida.

Originality/value

This is the first empirical study in the USA to focus on the impact of wine franchise laws on consumer choice and wine price. It yields useful information that contributes to the body of knowledge for wine and policy research.

Details

International Journal of Wine Business Research, vol. 25 no. 2
Type: Research Article
ISSN: 1751-1062

Keywords

Article
Publication date: 1 October 2002

Georgios I. Zekos

Presents an updated version of a paper given by the author at an international conference in Athens 2000. Briefly outlines the development of the internet and e‐commerce and the…

2018

Abstract

Presents an updated version of a paper given by the author at an international conference in Athens 2000. Briefly outlines the development of the internet and e‐commerce and the effect of globalization. Considers the potential for the EU to standardize rules and advance its economic integration agenda. Looks at present EU laws in this area. Covers the unicitral model law on electronic commerce, its merits and its problems. Discusses personal jurisdiction under traditional rules and cyberspace transactions. Concludes that existing legislation must be re‐evaluated in the light of technological advances, the need for a more mobile kind of legal person and the worldwide nature of transactions across territorial boundaries, paperless contracts and digital signatures and the use of self‐regulation are also covered.

Details

Managerial Law, vol. 44 no. 5
Type: Research Article
ISSN: 0309-0558

Keywords

Article
Publication date: 14 August 2023

Rio Erismen Armen, Engku Rabiah Adawiah Engku Ali and Gemala Dewi

This study aims to investigate beneficial right as a new legal concept and term accepted by the Indonesian legal system. The new concept was ratified to endorse government…

Abstract

Purpose

This study aims to investigate beneficial right as a new legal concept and term accepted by the Indonesian legal system. The new concept was ratified to endorse government decision to use ṣukūk (as an Islamic financial instrument) in the financing of state budget deficit. Some legal issues emerged after the ratification such as the necessity to synchronize the beneficial right with other property rights in Indonesia and the disharmony between laws related to sovereign ṣukūk issuance.

Design/methodology/approach

The study uses a qualitative method with library study and interviews with relevant legal experts in Indonesia as the data collection techniques.

Findings

The findings show that the passage of Sovereign Ṣukūk Law 2008 that ratified beneficial right deemed as a concession point by the government to solve conflicts between legal restriction and employment of state-owned assets as the underlying asset of sovereign ṣukūk. The study deemed the necessity to improve the use of beneficial right in the Indonesian legal system which by the concept is not exercised for the issuance of sovereign ṣukūk only. There is the need to harmonize the administration of this right with other property rights in Indonesia.

Research limitations/implications

The scope of study will be limited to the Indonesian regulation related to the use of beneficial right concept in the issuance of sovereign ṣukūk in Indonesia. The regulation as mentioned will be in the form of statutes, presidential or ministerial regulations, and also opinions of Indonesian legal and sharīʿah scholars regarding the matter.

Originality/value

This study may explore significantly the use of beneficial right for the issuance of sovereign ṣukūk by the Government of Indonesia. Specifically, the study reveals and addresses the issues that are following the ratification of beneficial rights originated from the common law system into the Indonesian civil law system.

Details

International Journal of Law and Management, vol. 65 no. 6
Type: Research Article
ISSN: 1754-243X

Keywords

Article
Publication date: 9 November 2012

Alexander J. Bělohlávek and Filip Černý

This article aims to deal with international investment disputes, with a focus on the nature of the law applicable to the merits of such disputes.

1619

Abstract

Purpose

This article aims to deal with international investment disputes, with a focus on the nature of the law applicable to the merits of such disputes.

Design/methodology/approach

The procedure for determining the law applicable in investment disputes, the phases of determination and the impact thereof on the applicable law were analyzed. The diagonality of the disputes and its impact on the law applicable to the merits from the perspective of the interaction between national and international law were also analyzed. Further, the authors focused on the nature of the host state's breach of obligations towards the investor anchored in the investment treaty, and the effect thereof on the law applicable to the merits. In this respect, the notion of the investment itself was analyzed according to the relevant BITs and MITs. Finally, the authors analyzed the applicability of the Ordre Public concept to investment disputes.

Findings

The study provided practical demonstrations and examples of choice of law and application issues as resolved by the tribunals established under the ICSID.

Research limitations/implications

The article deals mainly with the ICSID proceedings. Another should be also analyzed.

Originality/value

The paper provides a new insight into issues of the law applicable to investment disputes by analyzing this problematic in relation to all stages of investment arbitration proceedings. Particularly it took an innovative approach in shedding light on and analyzing the applicability of the Ordre Public concept in relation to investment protection, especially in relation to Article 52 of the ICSID Convention, and the recognition and enforcement proceedings of arbitral awards issued in the course of investment arbitration.

Details

International Journal of Law and Management, vol. 54 no. 6
Type: Research Article
ISSN: 1754-243X

Keywords

Article
Publication date: 1 June 2006

Ellen Eardley and Jessica Manvell

The purpose of this article is to document the extent of girls' under‐representation in nontraditional high school career and technical education courses, examine the role of sex…

1131

Abstract

Purpose

The purpose of this article is to document the extent of girls' under‐representation in nontraditional high school career and technical education courses, examine the role of sex discrimination in these disparities, and identify legal remedies for addressing the problem.

Design/methodology/approach

This article uses high school CTE enrollment data from 12 states to document female students' under‐representation in nontraditional courses and uses wage data to show the negative implications for girls' future earnings. Drawing on the experiences of female students, this study explains how sex discrimination contributes to their low rates of participation in nontraditional training. The study then discusses how laws and regulations at the federal and state levels may provide means to address such discrimination.

Findings

Finds high levels of sex segregation in CTE course enrollment, with female students making up on average 15 percent of students in nontraditional courses and 87 percent in traditionally female fields. Substantial evidence of sex discrimination in CTE makes a strong case for its role in contributing to girls' low enrollment in nontraditional courses. Varied state laws can be utilized to address this underlying cause.

Originality/value

While much research has looked at girls in math and science, less attention has been paid to their participation in nontraditional CTE. This paper offers quantitative evidence of girls' under‐representation in such courses and qualitative evidence of the role sex discrimination plays. Offers a unique solution by showing how state laws can be used to address such discrimination and increase girls' participation in nontraditional training.

Details

International Journal of Manpower, vol. 27 no. 4
Type: Research Article
ISSN: 0143-7720

Keywords

Article
Publication date: 10 May 2011

Ardeshir Atai

The purpose of this paper is to examine the remedies available under Iranian investment treaties for settlement of investment disputes. This includes the obligation of the Iranian…

Abstract

Purpose

The purpose of this paper is to examine the remedies available under Iranian investment treaties for settlement of investment disputes. This includes the obligation of the Iranian Government to provide foreign investors access to international arbitration. The sensitivity of the controversial Iranian nuclear program and the imposition of economic and financial sanctions on Iran will lead to the termination of many contracts between companies from Europe and the West and Iran, therefore, a viable solution must exist to address the rights and remedies of foreign investors. This article aims to provide an insight into Iranian treaties.

Design/methodology/approach

The main method was a survey of different treaties signed by Iran.

Findings

The discussion revealed that there are currently more than 50 treaties signed and ratified by Iran which provide arbitration as a dispute resolution forum. There are many treaties between the member countries of the European Union which make it important for the research. Iranian treaties guarantee international law remedies to foreign companies with investment in Iran by allowing them to seek redress in an international forum.

Practical implications

Iran has not signed the ICS1D Convention, meaning that the arbitration proceedings will be subject to ad hoc arbitration rules of UNCITRAL. Furthermore, ICSID rules on enforcement of the award do not apply. Therefore, the winning party must go through the Iranian courts to enforce its awards.

Originality/value

The value of the paper is to government organization, international institutions and multinational companies with substantial economic interest in Iranian energy and natural resources. For the first time, the topic has been covered in a research paper. There are no articles in Iranian bilateral investment treaties (BITs) addressing dispute resolution through arbitration. This is the first piece of work that actually conducted a thorough analysis of Iranian BITs.

Details

Journal of Money Laundering Control, vol. 14 no. 2
Type: Research Article
ISSN: 1368-5201

Keywords

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