scholarly journals The bankruptcy law of Saudi Arabia: policy, operation and comparison

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Fahad Alarifi
Keyword(s):  
Saudi Arabia ◽  
Design Methodology ◽  
Comprehensive Assessment ◽  
Bankruptcy Law ◽  
Content Type ◽  
Policy Goals ◽  
Alternative Approach ◽  
The Us ◽  
The Law ◽  
Bankruptcy Code

Purpose The purpose of the paper is to analyze the new Bankruptcy Law in Saudi Arabia (KSA Bankruptcy Law) under both a comparative lens and a policy-oriented one, while highlighting some of the most essential operational steps and procedures in a bankruptcy proceeding under the law. Design/methodology/approach The approach adopted analyzes the specific mechanics and procedures of a bankruptcy law under the general policies and goals of bankruptcy. Additionally, where appropriate, a brief comparison to the US Bankruptcy code and its provisions is presented to provide an alternative approach on how similar issues are handled under a reputable and proven bankruptcy system. Findings Overall, the KSA Bankruptcy Law is a major accomplishment and advancement to the Kingdom’s insolvency regime. The law consolidated and codified the laws governing bankruptcy under the Kingdom’s prior regime, and followed the structure of a modern bankruptcy regime. In doing so, several of the law’s policies and objectives have been fulfilled by providing an effective, predictable and reliable bankruptcy system. Originality/value Given the relatively recent adoption of the KSA Bankruptcy Law, the paper provides a comprehensive assessment of the law’s operation and its effectiveness in achieving its policy goals as a modern bankruptcy law.

Exploring the conceptualisation of Intangibles in law and accounting in the USA

2016 ◽  
Vol 17 (1) ◽  
pp. 11-26 ◽  
Author(s):  
Laura Girella ◽  
Carlo Bagnoli ◽  
Stefano Zambon
Keyword(s):  
Current Literature ◽  
Design Methodology ◽  
International Level ◽  
Content Type ◽  
Research And Practice ◽  
Depth Analysis ◽  
The Us ◽  
The Usa ◽  
The Law

Purpose – Over the last decades concepts and practices related to intangibles gained momentum at international level especially within the economic, accounting and management arenas. However, dating back to the beginning of the 1900s, intangibles was a topic that in the USA dominated the law and taxation fields. Indeed, at that time few papers were published in accounting journals and reviews, whereas the majority populated law and taxation publications. The paper aims to discuss this issue. Design/methodology/approach – Drawing upon the sociology of the profession, the ways through which lawyers and accountants constructed a “professional competition and power” (Dezalay and Sugarman, 2005) upon this arena are here explored. In particular, an in-depth analysis of the papers published on this field from the beginning of the 1900s until the 1970s in the USA is carried out. Findings – Notwithstanding the current conceptualisation of intangibles as a field of research and practice at the margins (Miller, 1998) of accounting, the results achieved in the present research suggest that, at least historically, the topic of intangibles was highly intertwined not only within the different streams of accounting studies and practice, but also with the developments in legal and taxation fields that were surrounding the US economic, social and political institutional scenario. Originality/value – The work intends to contribute to the current literature providing insights into the “genealogy” (Foucault, 1977) of the intangibles territory and the “turf battles” (Dezalay, 1995) it went through in order to become what has been defined as “a field upon which questions of disciplinary legitimacy have been raised” (Zambon, 2006) and, consequently, as characterized by “an intrusion of ‘external’ specialists into the accounting domain” (Power, 2001).

Insolvency and Bankruptcy Code 2016: revisiting with market reality

2020 ◽  
Vol 63 (1) ◽  
pp. 125-146
Author(s):  
Shakti Deb ◽  
Indrajit Dube
Keyword(s):  
Design Methodology ◽  
Bankruptcy Law ◽  
Corporate Ownership ◽  
Insolvency Law ◽  
Content Type ◽  
Indian Experience ◽  
Theoretical Wisdom ◽  
Corporate Insolvency ◽  
Bankruptcy Code ◽  
Ownership Composition

Purpose This paper aims to revisit the Indian experience on corporate bankruptcy law to answer “why Indian corporate insolvency law structured differently from a manager-driven (pre-Insolvency Code) to manager-displacing model (post-Insolvency Code)?” Design/methodology/approach This paper is qualitative in nature. The paper analyses the prevailing theoretical wisdom in corporate insolvency law in India and examines the practices of Indian bankruptcy regime. Findings The authors argued, considering the corporate ownership composition, the Insolvency and Bankruptcy Code 2016 will not accomplish the intended objective (i.e. the “creditor primacy”). The findings refute with the evolutionary theory, i.e. debt and equity both will tend towards dispersion in outsider system of governance. Originality/value This paper put forward the imprint that Indian corporate insolvency regime is manager-displacing under Law on Books and manager-driven under Law on Practice.

Measuring abnormal pricing – an alternative approach

2014 ◽  
Vol 17 (2) ◽  
pp. 203-218 ◽  
Author(s):  
Keejae Hong ◽  
Cabrini H. Pak ◽  
Simon J. Pak
Keyword(s):  
Latin American ◽  
Design Methodology ◽  
Free Market ◽  
Market Price ◽  
Alternative Measure ◽  
Content Type ◽  
Alternative Approach ◽  
The Us ◽  
Free Market Price ◽  
Latin American And Caribbean

Purpose – The purpose of this study is to examine the degree of trade mispricing in the US fresh banana trade with Latin American and Caribbean countries using a new alternative measure in estimating arm’s length price. Design/methodology/approach – A key feature of the research design is that we use the actual free market price of commodity (e.g. fresh banana price) as a benchmark for arm’s length price rather than relying on interquartile range, which is known to be problematic. Findings – The paper finds that when the degree of mispricing is measured by two widely used methods, interquartile price filter and partner-country methods, we find little evidence of undervaluation or overvaluation of US banana import. However, when we use the free-market price of fresh banana as a benchmark for arm’s length price, first adopted in this study, the average undervalued amount of trade compared to the total banana import declared value by the US importers is on average 54 per cent during the period between 2000 and 2009. Originality/value – This study suggests a new simple measure in estimating arm’s length traction price in studying trade mispricing.

OCIE issues risk alert on the most frequently identified advisory fee and expense compliance issues

2018 ◽  
Vol 19 (4) ◽  
pp. 1-3
Author(s):  
Robert Van Grover
Keyword(s):  
Design Methodology ◽  
Best Practice ◽  
Investment Management ◽  
Content Type ◽  
Informed Decisions ◽  
Policies And Procedures ◽  
The Us ◽  
Investment Advisers ◽  
Practical Implications

Purpose To summarize and interpret a Risk Alert issued on April 12, 2018 by the US SEC’s Office of Compliance Inspections and Examinations (OCIE) on the most frequent advisory fee and expense compliance issues identified in recent examinations of investment advisers. Design/methodology/approach Summarizes deficiencies identified by the OCIE staff pertaining to advisory fees and expenses in the following categories: fee billing based on incorrect account valuations, billing fees in advance or with improper frequency, applying incorrect fee rates, omitting rebates and applying discounts incorrectly, disclosure issues involving advisory fees, and adviser expense misallocations. Findings In the Risk Alert, OCIE staff emphasized the importance of disclosures regarding advisory fees and expenses to the ability of clients to make informed decisions, including whether or not to engage or retain an adviser. Practical implications In light of the issues identified in the Risk Alert, advisers should assess the accuracy of disclosures and adequacy of policies and procedures regarding advisory fee billing and expenses. As a matter of best practice, advisers should implement periodic forensic reviews of billing practices to identify and correct issues relating to fee billing and expenses. Originality/value Expert guidance from experienced investment management lawyer.

Employing needs-based funding formulae – some unavoidable tradeoffs

2017 ◽  
Vol 31 (7) ◽  
pp. 1092-1102
Author(s):  
Tal Gilead ◽  
Iris BenDavid-Hadar
Keyword(s):  
Decision Making ◽  
Resource Allocation ◽  
Design Methodology ◽  
Social Equity ◽  
School Resources ◽  
Content Type ◽  
Funding Formula ◽  
Policy Goals ◽  
Theoretical Investigations ◽  
Schooling System

Purpose The method by which the state allocates resources to its schooling system can serve as an important instrument for achieving desired improvements in levels of educational attainment, social equity and other social policy goals. In many school systems, the allocation of school resources is done according to a needs-based funding formula. The purpose of this paper is to provide a deeper understanding of some significant tradeoffs involved in employing needs-based funding formulae. Design/methodology/approach The paper is based on theoretical investigations of normative aspects involved in using needs-based funding formulae. Findings There are a number of underexplored complications and difficulties that arise from the use of needs-based funding formulae. Dealing with these involves significant tradeoffs that require taking normative decisions. Understanding these tradeoffs is important for improving the use of needs-based funding formulae. Originality/value The paper highlights three under-examined issues that emerge from the current use of needs-based funding formulae. These issues are: to what extent funding formulae should be responsive to social and economic needs? To what extent should funding formulae allow for the use of discretion in resource allocation? To what degree needs-based formulae funding should be linked to outcomes? By discussing these issues and the tradeoffs involved in them, the paper provides a deeper understanding of significant aspects stemming from the use of needs-based funding formulae. This, in turn, can serve as a basis for an improved and better informed process for decision making regarding the use of funding formulae.

Lenovo’s successful acquisition of the IBM PC Division

2016 ◽  
Vol 32 (9) ◽  
pp. 32-35
Author(s):  
Mark Thomas
Keyword(s):  
Design Methodology ◽  
Chinese Economy ◽  
High Tech ◽  
Tablet Computers ◽  
Content Type ◽  
Us Economy ◽  
The Us ◽  
Pertinent Information ◽  
Traditional Manufacturing

Purpose The purpose of this paper is to analyze Lenovo’s successful acquisition of IBM’s PC division using Ghemawat’s (2001) CAGE framework. It was an acquisition that was so full of symbols that it is difficult to know where to begin. Lenovo’s purchase of IBM in 2005 was first seen as a sign of the rapid growth and expansion of the Chinese economy and its transformation away from the traditional manufacturing base to more high-tech areas. For doomsday merchants in the land of Uncle Sam, it foretold the end of the world domination of the US economy. Despite a considerable number of skeptics at the time, Lenovo was clearly up to the task. Such was the success of the acquisition that by 2015, Lenovo could claim to have grown into the world’s number 1 PC maker, number 3 smartphone manufacturer and number 3 in the production of tablet computers. Design/methodology/approach This paper is a case study. Findings Despite a considerable number of skeptics at the time, Lenovo was clearly up to the task. Such was the success of the acquisition that by 2015, Lenovo could claim to have grown into the world’s number 1 PC maker, number 3 smartphone manufacturer and number 3 in the production of tablet computers. Indeed, by 2014, the firm had enough confidence to add the IBM server business to its portfolio. Originality/value The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

Measuring tourism success: alternative considerations

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Richard Butler
Keyword(s):  
Design Methodology ◽  
National Level ◽  
Major Change ◽  
Well Being ◽  
Economic Factors ◽  
Content Type ◽  
Alternative Approach ◽  
Indicators Of Success ◽  
Local Levels ◽  
Economic Criteria

PurposeThe study aims to explore the possibility of redefining success in tourism and measuring such a phenomenon by considering alternatives to economic factors, and to identify the ways such measurement could be implemented.Design/methodology/approachThe study reviews and explains current approaches to defining and measuring success in tourism in the literature, followed by identification of alternative factors which could be measured and the implications of such a change in approach.FindingsThere has been a long-standing emphasis and priority placed on measuring tourism at the national level with a focus on economic criteria, and this has been followed at regional and local levels. The result has been that success has become equated with volume, supporting the aim of continued growth in tourism. Such an approach and attitude mitigate against achieving or moving towards sustainability, and other measures are needed to avoid problems such as overtourism.Originality/valueThere has been little discussion of moving to a wider range of indicators of success in tourism, and the previous focus has been on economic criteria and competitiveness as shown by tourist numbers. This paper presents a discussion of an alternative approach, showing that tourism stakeholders from national to local levels need to redefine success as including factors such as community and environmental well-being and focus on a wider concept of success. Using existing data and organisations would enable measuring such concepts to be done without major change or greatly increased costs to agencies.

SEC permits all issuers to submit confidential draft registration statements

2017 ◽  
Vol 18 (4) ◽  
pp. 16-21
Author(s):  
Andrew Brady ◽  
Brian Breheny ◽  
Michelle Gasaway ◽  
Stacy Kanter ◽  
Michael Zeidel ◽  
...  
Keyword(s):  
Corporate Finance ◽  
Design Methodology ◽  
Review Process ◽  
Going Public ◽  
Content Type ◽  
Submission Process ◽  
The Us ◽  
Practical Guidance ◽  
Jobs Act ◽  
A Company

Purpose To explain the US Securities and Exchange Commission’s (SEC’s) June 29, 2017 announcement (as updated August 17, 2017) that the staff of its Division of Corporation Finance will accept draft registration statement submissions from all companies for nonpublic review, thereby expanding a popular benefit previously available only to emerging growth companies (ECGs) under the JOBS Act and, in limited circumstances, to certain foreign private issuers under historical Staff practices. Design/methodology/approach Explains the rationale and limitations of the new policy, the existing confidential submission process, the expanded class of issuers and transactions that now qualifies for the nonpublic review process, and content and staff processing details. Findings Recognizing that the confidential submission process for EGCs proved highly popular and quickly became standard practice for eligible companies seeking to conduct an IPO, the SEC has made the nonpublic review process available to an expanded class of issuers and transactions. The expanded confidential submission process for IPOs addresses some of the typical concerns associated with engaging in the IPO process by giving a company more time and flexibility to determine whether it actually will be able to achieve the benefits of going public before it incurs the burdens and expenses of doing so. Originality/value Practical guidance from experienced securities and corporate finance lawyers.

Unfair dismissal in the Mauritius context: a comparative study

2018 ◽  
Vol 60 (6) ◽  
pp. 1299-1312
Author(s):  
Ambareen Beebeejaun
Keyword(s):  
Design Methodology ◽  
Research Work ◽  
Procedural Fairness ◽  
Content Type ◽  
Monetary Compensation ◽  
Unfair Dismissal ◽  
The Subject ◽  
The Law ◽  
Employment Rights ◽  
Practical Recommendations

Purpose The purpose of this study is to critically analyse the concept of unfair dismissal and to assess the extent to which the Employment Rights Act 2008 is affording protection to employees in Mauritius. The purpose of this study is to also demonstrate that as employees form an integral part of their workplace, their employment cannot be terminated without substantive and procedural fairness. The paper will provide some recommendations to cater for loopholes in existing Mauritius employment legislations. Design/Methodology/Approach To critically examine the topic, the black letter approach is adopted to detail legislations and judgments of courts on the subject matter. A comparative analysis with some other jurisdictions’ employment legislations is also carried out to define, explain and examine the concepts of dismissal, substantive causes such as misconduct and procedural fairness. Findings From the methodologies used, it is found that a substantial reason is not sufficient to conclude whether a dismissal is fair. The law of unfair dismissal has introduced some procedural safeguards to protect the employee from being unfairly and unjustifiably dismissed. The procedural requirements act as guidelines to employers and if they are not followed properly, the dismissal will be unfair. Unfair dismissal needs to be accompanied by remedies from employers, and monetary compensation has been found to be the most appropriate remedy. Originality/Value This paper is amongst the first research work conducted in Mauritius that compares the law of unfair dismissal and its implications with the laws of England and South Africa. The study is carried out with a view to provide practical recommendations in this area of employment law to the relevant stakeholders concerned.

scholarly journals Sports bra use, preferences and fit issues among exercising females in the US, the UK and China

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Nicola Brown ◽  
Jenny Burbage ◽  
Joanna Wakefield-Scurr
Keyword(s):  
Design Methodology ◽  
Health Benefits ◽  
Global Markets ◽  
Activity Levels ◽  
Positive Health ◽  
Physically Active ◽  
Content Type ◽  
The Us ◽  
The Uk ◽  
The Right

PurposePrevious research suggests that many active females are not engaging in sports bra use, despite the positive health benefits. The aim of this study was to establish and compare sports bra use, preferences and bra fit issues for exercising females in some of the largest and most diverse global underwear markets (the US, the UK and China).Design/methodology/approachA survey covering activity levels, sports bra use and preferences, bra issues and demographics was administered via Qualtrics and completed by 3,147 physically active females (aged ≥ 18 years) from the US (n = 1,060), UK (n = 1,050) and China (n = 1,037).FindingsIn general, participants were 25–29 years, 121 to 140 pounds, 34B bra size and pre-menopausal. “I cannot find the right sports bra” was the most frequent breast barrier to exercise (25.4%). Three-quarters of women wore a sports bra during exercise, with significantly higher use in China (83.9%), compared to the UK (67.2%). A third of all participants reported sports bra shoulder straps “digging into the skin”. Sports bra preferences were: compression sports bras with a racer back, wide straps and thick straps in the US and the UK; thin straps in China and adjustable straps and underband, no wire and maximum breast coverage in the US and the UK, including nipple concealment and with padded/moulded cups.Originality/valueInformation provided on differences in sports bra use, preferences and bra issues across three major global markets could be utilised by brands and manufacturers to optimise bra marketing and fit education initiatives and inform future sports bra design and distribution strategies.

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