scholarly journals Corporate legal structure and bank loan spread

2020 ◽  
Vol 64 ◽  
pp. 101656
Author(s):  
Anywhere Sikochi
2014 ◽  
Vol 20 (2) ◽  
pp. 593-638 ◽  
Author(s):  
Marlene Plumlee ◽  
Yuan Xie ◽  
Meng Yan ◽  
Jeff Jiewei Yu

2011 ◽  
Vol 86 (4) ◽  
pp. 1157-1188 ◽  
Author(s):  
Jeong-Bon Kim ◽  
Byron Y. Song ◽  
Liandong Zhang

ABSTRACT Using a sample of borrowing firms that disclosed internal control weaknesses (ICW) under Section 404 of the Sarbanes-Oxley Act, this study compares various features of loan contracts between firms with ICW and those without ICW. Our results show the following. First, the loan spread is higher for ICW firms than for non-ICW firms by about 28 basis points, after controlling for other known determinants of loan contract terms. Second, firms with more severe, company-level ICW pay significantly higher loan rates than those with less severe, account-level ICW. Third, lenders impose tighter nonprice terms on firms with ICW than on those without ICW. Fourth, fewer lenders are attracted to loan contracts involving firms with ICW. Finally, our within-firm analyses show that banks increase loan rates charged to ICW firms after their disclosure of internal control problems and that banks reduce loan rates after firms remediate previously reported ICW.


Author(s):  
Marlene A. Plumlee ◽  
Yuan Xie ◽  
Meng Yan ◽  
Jeff Jiewei Yu

2017 ◽  
pp. 83-99
Author(s):  
Elisabetta Mafrolla ◽  
Viola Nobili

This paper investigates whether and at what extent private firms reduce the quality of their accruals in order to signal a better portrait to the bank and obtain new or larger bank loans. We measure earnings discretionary accruals of a sample of Italian private firms, testing whether new and larger bank loans are associated with a higher (lower) quality of earnings in borrowers' financial reporting. We study bank loan levels and changes and how they impact discretionary accruals and found that, surprisingly, private firms' discretionary accruals are systematically positively affected by an increase in bank loans, although they are negatively affected by the credit worthiness rating assigned to the borrowers. We find that the monitoring role of the banking system with regard to the adoption of discretionary accruals is effective only when the loan is very large. This paper may have implications for policy-makers as it contributes to the understanding of the shortcomings of the banking regulatory system. This is an extremely relevant issue since the excessive amount of non-performing loans held by Italian banks recently threatened the stability of the European Banking Union as a whole.


2017 ◽  
Vol 4 (1) ◽  
pp. 41-61
Author(s):  
Pelin Sönmez ◽  
Abulfaz Süleymanov

Türkiye, Cumhuriyet tarihinin en yoğun zorunlu göç dalgasını 2011 yılından bu yana süren Suriye Savaşı ile yaşamaktadır. Suriye vatandaşlarının geçici koruma statüsü altında Türkiye toplumuna her açıdan entegrasyonları günümüzün ve geleceğin politika öncelikleri arasında düşünülmelidir. Öte yandan ülkeye kabul edilen sığınmacıların kendi kültürel kimliğini kaybetmeden içinde yaşadığı ev sahibi topluma uyumu, ortak yaşam kültürünün gelişmesi açısından önem arz etmektedir. Bu makalede, "misafir" olarak kabul edilen Suriyeli vatandaşların Türk toplumunca kabul edilmeleri ve dışlanma risklerinin azaltılmasına yönelik devlet politikaları ortaya konularak, üye ve aday ülkelere göçmenlerin dışlanmasını önlemek için Avrupa Birliği (AB) tarafından sunulan hukuki yapı ve kamu hizmeti inisiyatifleri incelenmekte, birlikte yaşam kültürü çerçevesinde Suriyeli vatandaşlara yönelik  toplumsal kabul düzeyleri ele alınmaktadır. Çalışma iki ana bölümden oluşmaktadır: göçmen ve sığınmacılara karşı toplumsal dışlanmayı engellemek için benimsenen yasa ve uygulamaların etkisi ve İstanbul-Sultanbeyli bölgesinde Suriyeli sığınmacılarla ilgili toplumsal algı çalışmasının sonuçları. Bölgede ikamet eden Suriyelilere yönelik toplumsal kabul düzeyinin yüksek olduğu görülürken, halkın Suriyelileri kendilerine  kültürel ve dini olarak yakın hissetmesi toplumsal kabul düzeyini olumlu etkilemektedir. ABSTRACT IN ENGLISHAn evaluation of the European Union and Turkish policies regarding the culture of living togetherThis article aims to determine the level of social acceptance towards Syrians within the context of cohabitation culture by evaluating EU’s legal structure and public service initiatives in order to prevent Syrian refugees from being excluded in member and candidate countries and by revealing government policies on acceptance of Syrians as “guest” by Turkish society and minimizing the exclusion risks of them. This article consists of two main parts, one of which is based on the effects of law and practices preventing refugees and asylum seekers from social exclusion, and the other is on the results of social perception on Syrians in Sultanbeyli district of Istanbul. At the end of 5-years taking in Syrian War, it is obvious that most of more than 3 million Syrian with unregistered ones in Turkey are “here to stay”. From this point of view, the primary scope of policies should be specified in order to remove side effects of refugee phenomenon seen as weighty matter by bottoming out the exclusion towards those people. To avoid possible large-scale conflicts or civil wars in the future, the struggle with exclusion phenomenon plays a crucial role regarding Turkey’s sociological situation and developing policies. In the meaning of forming a model for Turkey, a subtitle in this article is about public services for European-wide legal acquis and practices carried out since 1970s in order to prevent any exclusion from the society. On the other hand, other subtitles are about legal infrastructure and practices like Common European Asylum and Immigration Policies presented in 2005, and Law on Foreigners and International Protection introduced in 2013. In the last part of the article, the results of a field survey carried out in a district of Istanbul were used to analyze the exclusion towards refugees in Turkey. A face-to-face survey was randomly conducted with 200 settled refugees in Sultanbeyli district of Istanbul, and their perceptions towards Syrian people under temporary protection were evaluated. According to the results, the level of acceptance for Syrians living in this district seems relatively high. The fact that Turkish people living in the same district feel close to Syrian refugees culturally and religiously affect their perception in a positive way: however, it is strikingly seen and understood that local residents cop an attitude on the refugees’ becoming Turkish citizens.


2018 ◽  
Vol 1 (2) ◽  
pp. 123-138
Author(s):  
Eva Mir'atun Niswah

Intellectual Property Rights (IPR) is one of movable objects that can be represented according to waqf regulation (Undang-Undang No. 41 Tahun 2004 Tentang Wakaf). The previous regulations did not mention IPR as waqf object. IPR becomes waqf object because there is a shift of  paradigm on productive waqf. However, the waqf regulation (Undang-Undang No. 41 Tahun 2004 Tentang Wakaf) has many juridical problems. For example, there is no specific explanation about IPR waqf as well as money waqf. Besides, the IPR practice is very rare due to unclear forms of IPR waqf. Juridical problems on IPR waqf are related to legal substance, legal structure and legal culture. On legal substance, there is no clear explanation and mechanism of IPR waqf. On legal structure, there is no clear explanations about who can be the wakif or nazir on IPR waqf. On legal culture, many people are still unfamiliar with intangible waqf object (the conventional waqf object is land). Therefore, the acceptance of an intangible object such as IPR as a waqf object is very low.


2020 ◽  
Vol 19 (2) ◽  
Author(s):  
Rio Saputra ◽  
Mokhammad Najih

<p><em>Suspects have the right to obtain legal assistance, especially for suspects who are classified as economically disadvantaged in accordance with Article 56 of the Criminal Procedure Code (KUHAP). The facts show that there are many irregularities in the implementation of legal aid, therefore it is necessary to know about the implementation of free legal aid for suspects who are incapacitated at the level of investigation and the factors that become obstacles in the implementation of legal aid. This legal research is an empirical legal research and this research is descriptive in nature. The data used are primary data and secondary data. The techniques used to collect data were document study techniques and interview techniques. Inhibiting factors affecting the implementation of free legal aid for suspects who are unable at the level of investigation can be classified and differentiated into 3 factors, namely, legal substance, legal structure, and legal culture).</em></p><p><strong><em>Keywords: </em></strong><em>Legal Aid, Criminal Cases</em></p>


The author analyzes the legal status of the organizers of artistic creation, enshrined in the Russian legislation de lege lata, and develops the legal status of the organizer of scientific activities de lege ferenda. It is proposed to consider the organizer of scientific activity as only the head of the temporary scientific team, the purpose of which is to solve a specific scientific problem. A set of elements of the legal structure is formulated, which may be fixed in a normative manner in order to ensure uniformity of legal regulation of the activities of temporary research teams. The status of the organizer of scientific activity is determined on the base of his organizational efforts to guide the creative activities of the team (a distinction is made between the creative and organizational contribution of the head of the scientific team to the overall result). Various options for modeling the legal status of the organizer of scientific activities are discussed: inclusion of the organizer among the co-authors the scientific results obtained by the team; inclusion of the organizer among the co-authors in case if he / she has a creative idea (topic) of academic search; granting the organizer related intellectual rights to the entire result obtained by the team. It is presumed that the organizer of scientific activity is the author of the idea of scientific search for solving the task set for the temporary team. It is concluded that the organizer of scientific activity (the head of the temporary scientific team) must be endowed with related intellectual rights: 1) the exclusive right to use the scientific result obtained by the team as a whole, and 2) the personal non-property right to indicate his name in any use of this result. The author substantiates the content, non-turnover and special validity period of the exclusive right of the organizer of scientific activity.


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