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Company law harmonisation is considered to be necessary for the achievement of the European Union's (EU) aim of a single market and the free movement of goods and services throughout member states. This paper aims to contribute to understanding of both business and accounting history by considering whether UK legal history can offer any insight into the process of harmonisation. First, approaches to company law in the United Kingdom and the remainder of the EU are outlined in order to identify key differences and to explain why harmonisation is desired. Secondly, the UK position is considered and historical attempts to lessen legal differences between Scots and English mercantile laws are then examined, focusing on harmonisation attempts. Finally, by reflecting on the UK experience, implications for the EU company law harmonisation programme are drawn.

In total, 90,000 of the 1.26 million people applying for asylum in the EU in 2015 were unaccompanied children. The Dublin III Regulations provided a unique legal situation where unaccompanied young people in the Calais Jungle potentially had the right to be reunited with family in the UK. The purpose of this paper is to explore the substantial challenges presented by carrying out medico-legal assessment of this group in the Calais Jungle.

The authors consider the refugee crisis from a mental health and legal perspective. The authors provide two case examples to contextualise and describe the work. The authors draw from the observations and the literature to discuss the impact of living in the Calais Jungle on young people, the challenges the authors overcame to carry out the assessments and the needs of refugees following settling in the UK.

The authors conclude that the Calais Jungle was a toxic environment not suitable for young refugees’ continued emotional development or recovery from trauma. The current legal process to relocate a young person to the UK is time consuming and labour intensive. The authors note that these concerns are not unique to the Jungle, nor have they ended with its demolition. The difficulties young refugees face with mental illness continues following their arrival to the UK.

This was the first successful attempt since the Dublin III Regulations to seek a legal route to bring unaccompanied refugee minors from France to the UK. This paper was co-written by both the legal and mental health professionals involved in the cases providing a broad opinion across both disciplines.

This paper seeks to consider the inter‐connections between law and child development, particularly in the areas of child custody and child protection, in both the USA and the UK.

The paper is based on analysis of US and UK legal systems and child developmental research.

Although the two legal systems have much in common in their approach to safeguarding children's welfare, there are also notable differences between them in terminology and in concept. Whereas the USA places a greater emphasis on the rights, particularly autonomy rights, of both parents and children, the UK justifies its laws affecting children largely in terms of parental responsibility and child need.

The paper argues that each of these legal regimes has something to learn from the other and a reader interested in thinking about the relationship between child welfare and law will profit from considering the distinctions, as well as the commonalities, between the two regimes.

The purpose of this paper is to examine the use of financial information and valuation methods among private equity funds in Europe and India. The authors analyze differences in the choice of valuation methods and how the use of financial information differs among funds in the UK, Pan Europe and India.

A survey approach was utilized in collecting proprietary data from European and Indian private equity funds. The data were classified according to fund type, country grouping, size, risk profile, labor cost and industry structure and analyzed using MANOVA and ANOVA.

The results show that the use of valuation models is relatively homogeneous across countries and that the use of financial information appears to be driven to a large extent by fund type and fund focus. The use of audited financial statements appears to increase as firms mature. Significant differences were found in standard financial adjustments between the two fund types and between the country groupings. Results based on labor cost are weakly significant whereas industry structure does not appear to have an impact on how fund managers evaluate investments.

The results indicate that fund managers adapt their decision‐making behavior according to investment type and risk. The authors argue that understanding asymmetrical and structural issues may potentially improve investment decision‐making processes. The main conclusion for researchers is that buy‐out and venture capital funds should not be combined as one asset class. Since a survey approach was used, the study is subject to the belief that fund managers do not internalize decisions well, which could reduce the effectiveness of the research design.

There are few studies in the areas covered by this paper due to the proprietary nature of the private equity industry. The results are important because they help in understanding how fund managers use decision aids such as financial statements and valuation techniques. A better understanding of current practices will help fund managers and fund sponsors in devising improved decision aids and processes, which ultimately may lead to fewer non‐performing investments. This is especially important in private equity since investment decisions are often irreversible and binary.

The purpose of this paper is to propose meta‐synthetic ideas and knowledge asset management approaches to build a comprehensive strategic framework for Beijing City in China.

Methods include a review of relevant literature in both English and Chinese, case studies of different types of support frameworks in the UK, the USA, Singapore and Hong Kong, formulation of a meta‐synthetic support framework for Beijing City, and justification of its application to policy development by various studies. Three stages of meta‐synthetic support frameworks are proposed.

The suggested meta‐synthetic support frameworks are highly appropriate for the optimisation of, and innovation in, management and services systems of government information resources. The proposed knowledge asset management approaches offer significant practical value in improving the competence and capabilities of service‐oriented government, providing a set of solutions to identified, urgent problems, including a joint administration system for creating value, a release and distribution management system for sharing and protecting value, and a licensing and authorisation management system for adding value.

This paper focuses on the formulation of a theoretical support framework for the reuse of government information resources and the justification of its effectiveness to guide policy development at strategic level. Case studies of its application at operational level are ongoing and will be discussed in future papers.

The suggested meta‐synthetic support frameworks support the efficiency, effectiveness and economy of intelligent traffic administration, good governance of value‐added services based on government information resources, and intellectual activity around city travel and traffic. The study has wide implications for the improvement of service‐oriented government performance, public satisfaction and the image of government.

The paper presents the adaptation of meta‐synthetic ideas and knowledge asset management approaches to collaboration, optimisation, innovation and compliance management issues in the reuse of government information resources. The advantages of different types of support systems and frameworks are integrated as a coherent whole for a strategic framework of legal, regulatory and standards support to China and Beijing.

This paper aims to investigate bank earnings management using loan loss provision. The paper examines income smoothing, which is a type of earnings management. It compares the income smoothing behaviour of banks in the UK, France, South Africa and Egypt.

The study uses the panel fixed effect regression methodology to analyse bank income smoothing.

The findings show that bank income smoothing is present in the UK and Egypt and absent in France and South Africa. Banks in Egypt used LLPs to smooth income before the global financial crisis. Meanwhile, bank income smoothing is pronounced in France during and after the financial crisis but was absent in the pre-crisis period. Also, bank income smoothing is reduced in countries that (1) have strict banking supervision, (2) adopt common law particularly the United Kingdom, and by countries that adopt civil law, particularly France and Egypt. Bank earnings management is greater in countries that (3) adopt a mixed legal system, particularly South Africa, and in countries that adopt International Financial Reporting Standards accounting standards.

The implication of the findings is that country differences may affect banks' incentive to smooth income using loan loss provision.

The novelty of this paper is that it explicitly analyses specific countries that have different supervisory regimes, different structure and accounting rules.

Expert evidence is a contentious area with a number of high profile cases highlighting unreliable “scientific” expert evidence, leading to appeals and acquittals. The purpose of this paper is to argue for improvement in the assessment of expert evidence reliability to avoid such difficulties.

A review of the area focused on the history of developing legal criteria for admitting “scientific” evidence. It examined the benefits and difficulties of approaches, and proposes an amendment to criteria for increased transparency and evidenced decision making.

The review indicated a range of difficulties with “expert” evidence admissibility, including inconsistency, an over-focus on narrow elements of evidence, difficulties in interpretation, and the potential to unfairly restrict evidence. An alternative to current approaches is proposed. This takes the form of a two-stage approach to consider whether or not to admit expert evidence. It comprises a preparation and an examination stage. The former seeks to critically review the evidence and define its nature. The latter applies two sets of criteria; a Daubert application for generally accepted physical sciences, and proposes an Abridged-Daubert for novel and social/behavioural sciences. Also proposed is increased involvement by experts in critically reviewing their own evidence and in providing statements of limitations.

The paper concludes by outlining the importance of developing such an approach for the UK legal system. It focuses on the application of specific criterion which could assist both Courts and witnesses to evaluate the quality of evidence prior to submission by accounting for the nature of the opinion evidence provided.

The paper outlines a practical approach to examining evidence which has benefit to practitioners and advocates when opinion evidence is outlined.

The global financial crisis of 2007-2008 prompted a significant debate on corporate governance and shareholder empowerment. A question arises as to whether shareholders ought to be further empowered to have a greater influence over the companies’ activities. Yet, it is not self-evident that shareholder empowerment ensures better-run companies’ corporate activities. Thus, the purpose of this paper is to critically examine, identify and explain the corporate regulation forms and control collectively to evaluate the effectiveness of shareholder empowerment fully.

To do so, this paper sets out a comparative analysis approach between two jurisdictions, the UK and Delaware in the USA. The paper further addresses by undertaking three case studies; Barclays Plc which illustrated the Comply or Explain role, AVIVA (2012) that concentrated on the impact of the shareholder revolt, and the case of Hills Stores Co. v. Bozic (2000), which involved a claim brought by shareholders on the grounds of a breach of fiduciary duty.

This paper argues that the shareholder empowerment theoretically provides an effective means through which corporate activities can be regulated. However, to do this, account must be taken that a distinction should be made between long-term and short-term investors to encourage shareholder engagement by responsible long-term investors. Furthermore, the shareholders can exercise their powers effectively and influence the Board’s decision to award executive compensation.

This paper offered two distinct contributions: assessing whether in times of crisis shareholder empowerment represents a way to regulate corporate activities and by assessing the distinction between the perception of shareholder empowerment and the reality in practice.