Dead End for Stabilization Clauses? The Effects of the Concessions Directive on Investor Protection Mechanisms

2018 ◽  
Author(s):  
Catalin Gabriel Stanescu
Keyword(s):  
Investor Protection ◽  
Dead End ◽  
Protection Mechanisms

scholarly journals Minority investor protection mechanisms and agency costs: An empirical study using a World Bank–developed approach

Accounting ◽  
2022 ◽  
Vol 8 (2) ◽  
pp. 235-248 ◽  
Author(s):  
Hoang N. Pham ◽  
Minh C. Nguyen
Keyword(s):  
World Bank ◽  
Agency Costs ◽  
Investor Protection ◽  
Agency Problems ◽  
Minority Shareholders ◽  
Firm Level ◽  
The World Bank ◽  
The World ◽  
Protection Mechanisms ◽  
The Impact

This study aims to examine the impact of minority investor protection mechanisms on agency costs. All relevant indicators of minority investor protection adapted from the World Bank’s annual ‘Doing Business’ reports, along with concentrated government ownership, are employed with a panel data sample of 135 Vietnamese listed firms during the period 2014–2018. It is found that the following mechanisms are effective in mitigating agency costs and hence agency problems at the firm level: 1) review and approval requirements for related-party transactions; 2) minority shareholders’ ability to sue and hold directors liable for their duties; 3) minority shareholders’ access to internal corporate documents; 4) investors’ rights to approve major corporate investment and sale of asset decisions; and 5) disclosure in annual reports of salaries, bonuses and other forms of remuneration to directors and management. Interestingly, board independence and controlling government shareholders are not confirmed to play significant roles in addressing agency problems. To the best of the authors’ knowledge, this is the first attempt at testing for the impact of minority investor protection mechanisms developed by the World Bank on agency costs at the firm level, hence providing empirical evidence for the adoption of the minority investor protection mechanisms promoted by the World Bank. This study also provides policy implications for selecting effective mechanisms to mitigate agency conflicts between controlling shareholders and minority investors in order to enhance the financial performance of firms in an Asian emerging market.

scholarly journals Ieguldītāju aizsardzības mehānisma attīstības tendences: normatīvo aktu grozījumi 2017. un 2018. gadā

2019 ◽  
Vol 2 (14) ◽  
pp. 9-22
Author(s):  
Tatjana Jukna
Keyword(s):  
Investor Protection ◽  
State Level ◽  
The State ◽  
Financial Instruments ◽  
Protection Mechanism ◽  
Technical Developments ◽  
Protection Mechanisms ◽  
The Republic ◽  
The Eu

Ieguldītāju aizsardzības mehānisms ir diezgan jauns tiesību institūts,  kura elementi ietverti vairākos Latvijas Republikas un Eiropas Savienības normatīvajos aktos. Ieguldītāju aizsardzības problemātikas aktualitāti veicina gan globalizācija, gan tehnoloģiju attīstība, kā arī jaunu finanšu instrumentu veidu rašanās.
Ieguldītāju aizsardzības pasākumu attīstību Latvijas tiesiskajā regulējumā būtiski ietekmē Eiropas Savienības normatīvā regulējuma pārņemšana nacionālajā tiesī­bu sistēmā. 
Šajā rakstā skartas personu kā ieguldītāju tiesības, kas cieši saistītas ar vērts­papīru kā patstāvīgu privāttiesiskas apgrozības priekšmetu, t. i., ieguldītāju aizsardzības pamatelementi aplūkoti ieguldījumu pakalpojumu kontekstā. Taču šeit netiek aplūkotas akcionāru, obligacionāru, ieguldījumu apliecību īpašnieku tiesības, kas izveidojas no īpašumtiesībām uz vērtspapīriem ar tieši vērtspapīrā nostiprinātajām tiesībām (piemēram, ar izpirkuma tiesībām, balsstiesībām, tiesībām uz informāciju u. c.). Mechanism of the investor protection is a quite new law institute. The elements of the investor protection mechanism could be found in various legal acts both at the state level of the Republic of Latvia and at the level of the EU. Globalisation, technical developments and arising of new types of financial instruments encourage actualisation of investor protection problematics. 
The development of the measures related to the investor protection are influenced by the transportation of the EU legal acts into national law systems. The article is devoted to the rights of investors as elements of investor protection mechanisms in the aspect of providing of investment services to the investors.

The Garden as Unfinished Narrative of the Good in C.S. Lewis’ Perelandra

2012 ◽  
Vol 2 (1) ◽  
pp. 49-80
Author(s):  
Evrea Ness-Bergstein
Keyword(s):  
The Novel ◽  
Garden Of Eden ◽  
Adam And Eve ◽  
Dead End ◽  
Growth And Change ◽  
Literary Devices ◽  
Hortus Conclusus

In Lewis’ transposition of Milton’s Paradise to a distant world where Adam and Eve do not succumb to Satan, the structure of Eden is radically different from the enclosed garden familiar to most readers. In the novel Perelandra (1944), C.S. Lewis represents the Garden of Eden as an open and ‘shifting’ place. The new Garden of Eden, with Adam and Eve unfallen, is a place of indeterminate future, excitement, growth, and change, very unlike the static, safe, enclosed Garden—the hortus conclusus of traditional iconography—from which humanity is not just expelled but also, in some sense, escapes. The innovation is not in the theological underpinnings that Lewis claims to share with Milton but in the literary devices that make evil in Perelandra seem boring, dead-end, and repetitive, while goodness is the clear source of change and excitement.

Derwent Moultrie Coleridge's Australian Exile

Romanticism ◽  
2018 ◽  
Vol 24 (1) ◽  
pp. 22-35
Author(s):  
Nicola Healey
Keyword(s):  
Nineteenth Century ◽  
Cambridge University ◽  
Dead End ◽  
Family Home

The literary career and troubled life of Derwent Moultrie Coleridge (1828–80), Derwent Coleridge's eldest son (S. T. Coleridge's first grandson) has been critically overlooked. After a period of alcohol-related, reckless behaviour at Cambridge University, he was exiled to Australia in November 1850, lest he continue to dishonour his father and the Coleridge name. Despite struggling considerably, he quickly became part of an Australian literary circle and he often contributed poems to Sydney newspapers. This essay analyses the most biographical of his poems that was published in the Australian press, ‘The Loafer's Christmas’ (1871) – a hitherto unknown poem – looking, in particular, at the dialogues in which the poem engages with his family, especially S. T. Coleridge's ‘The Rime of the Ancient Mariner’. I also contextualise ‘The Loafer's Christmas’ within nineteenth-century Australian culture. Looking at issues of exile, idleness, addiction, family, home(lessness), and religious redemption, this essay explores the ways in which Derwent Moultrie's exile proved to be both a literary liberation and a dead end, trapping him between times and spaces, real and imaginary. In so doing, I show how the lost life and writings of Derwent Moultrie Coleridge can offer us new perspectives on the Coleridge legacy.

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