A Study on the Product Liability Law in an Developed countries and Risk Management of Korean Export Firms

1998 ◽  
Vol 2 (1) ◽  
pp. 169
Author(s):  
Jae-Bong Kim
Keyword(s):  
Risk Management ◽  
Product Liability ◽  
Developed Countries ◽  
Liability Law

Product Liability

2020 ◽  
Author(s):  
Fairgrieve Duncan ◽  
Richard Goldberg
Keyword(s):  
Strict Liability ◽  
Product Liability ◽  
Case Law ◽  
The European Union ◽  
Financial Loss ◽  
Liability Law ◽  
The Usa ◽  
The Law ◽  
The Uk ◽  
The Impact

Product Liability is a recognised authority in the field and covers the product liability laws through which manufacturers, retailers, and others may be held liable to compensate persons who are injured, or who incur financial loss, when the products which they manufacture or sell are defective or not fit for their purpose. Product defects may originate in the production process, be one of design, or be grounded in a failure to issue an adequate warning or directions for safe use and practitioners advising business clients or claimants will find this book provides all the necessary information for practitioners to manage a product liability claim. This new edition has been fully updated to take account of 10 years of development in case law and regulation, and the increasing impact of cross-border and transnational sale of goods. The Court of Justice of the European Union handed down major rulings concerning the Product Liability Directive which affect the application of the Directive and national arrangements and Fairgrieve and Goldberg examines this in detail. For any legal practitioner operating in areas which require knowledge of European product liability law, an understanding of the impact of recent developments is essential and this work is an essential resource for practitioners working on product liability, sale of goods, personal injury and negligence. The work provides comprehensive coverage of the law of negligence as it applies to product liability, of the strict liability provisions of the Consumer Protection Act 1987, and of the EU's Product Liability Directive on which the Act is based. Although the majority of cases involve pharmaceuticals and medical devices, in recent English cases the allegedly defective products have been as diverse as a child's buggy, an All Terrain Vehicle, and even a coffee cup. Many cases are brought as group actions, and the book examines the rights of those who are injured by defective products. As well as considering the perspective of the law as it has developed in the UK, this edition contains detailed discussion of case law from other jurisdictions including the USA, Australia, New Zealand, Canada, France and Germany. The coverage in the work is complemented by a full analysis of issues which arise in transnational litigation involving problems of jurisdiction and the choice of laws.

scholarly journals Proactive supply chain risk management approach: The case of Serbia

2017 ◽  
Vol 62 (214) ◽  
pp. 121-137
Author(s):  
Aleksandra Andjelkovic
Keyword(s):  
Risk Management ◽  
Supply Chain ◽  
Developed Countries ◽  
Management Approach ◽  
Supply Chain Risk Management ◽  
Supply Chain Risk ◽  
Underdeveloped Countries ◽  
Management Concept ◽  
The Republic ◽  
The Eu

Supply chain risk management has become imperative. Therefore, needs for proactive supply chain risk management continuously is growing. Proactive supply chain risk management is not a great problem in developed countries. The problem is present in transition countries and underdeveloped countries. In those countries has not been built awareness about the importance of networking through supply chains and risk management within the supply chain. One of them is Republic of Serbia. Outside the door of the EU, the Republic of Serbia still retains the characteristics of the old system, and that is the great limitation for implementation of proactive supply chain risk management concept. Basic aim of paper is to research the level of proactive supply chain risk management. By using an adequate statistical methods, in paper will be analysed group of large enterprises from the Republic of Serbia. Besides that, author of paper suggesting the reasons and consequences of lack of proactive supply chain risk management.

THE RESPONSIBILITY FOR RISK MANAGEMENT IN THE SLOVAK SMEs FROM THE POINT OF VIEW OF THE HUMAN RESOURCES IN THE PERIOD OF QUALITATIVE ECONOMIC CHANGES

2020 ◽  
Vol Vol. 36 (No. 2) ◽  
pp. 71-77
Author(s):  
Katarina Haviernikova ◽  
Janka Betakova
Keyword(s):  
Risk Management ◽  
Negative Impact ◽  
Fundamental Problem ◽  
Developed Countries ◽  
Point Of View ◽  
Economic Environment ◽  
Negative Effects ◽  
Chi Square ◽  
Size Category ◽  
Wide Range

Small and medium-sized enterprises (SMEs) in developed countries represent an important part of their economic environment. They belong to accelerators of economic development in regions and countries. One of the specifications of SMEs is that they allow people to learn to use their own entrepreneurial skills. Thus, the success of SMEs depends on the skills of the person who is responsible for business management in the enterprise. Without skilled and competent managers no activity will be performed effectively. The development and changes in the economic environment, in which SMEs operate, cause the various reversals connected with uncertainty and the resulting risks. A competent person (owner/manager) in SME will need to anticipate these risks and develop appropriate mitigation and strategies for them. The owner/manager of SME should consider the fact, that there could be deviations in the realization process against the planned goal. This deviation presents the risk and the representative of SME should know, how it is possible to manage this risk. It means to reduce its negative impact. The lack of knowledge is a fundamental problem in the failure of most initiatives in the SMEs and the lack of experience can become a major risk to business survival. The goal of owners/managers in SMEs should be to reduce the possible errors and risks in that way that the SME gets into a situation in which it can anticipate changes, and it is able to respond to them and exploit them to their advantage. Each SME is unique and the risk may occur differently in comparison with other SMEs. Risk management and mitigation of risk are important to ensure the security of the company and its continuous development. The risk management in SMEs is perceived as a means of the improvement of SMEs’ success in their activities, due to the fact, that in most cases the unpredictable situations represent a serious loss-making exposure for the SMEs business sector which leads to the loss. For those SMEs whose capital base is insufficient, they can have catastrophic consequences in the case of realized activities, and they can lead to financial losses and subsequently to possible bankruptcy. For this reason, risk management is a prerequisite for minimization of the negative effects of unexpected situations. Still, a lot of SMEs rarely carry out process-related activities risk management. It is affected by limited resources (financial, human), which SMEs have, and which process risk management. There is a wide range of studies focused on risk management in SMEs, but only several of them are focused currently on the responsibility for risk management. This paper contributes to the dissemination of knowledge about the responsibility for risk management in SMEs and provides wider analysis in ways of responsibility for it. To reach the main of the paper, questionnaire surveys among 1018 Slovak SMEs were conducted. We compared the responsibility for risk management in SMEs between two groups of SMEs – technological and tourism from the point of view of sized category, and regional of SMEs. For the evaluation of differences and dependencies among three groups of respondents’ answers, according to their size category, economic branch in which they operate, and regional location, the Chi-square test was used. The associations among respondents’ answers were evaluated through Cramer’s V. The results showed the differences in responsibility for risk management among Slovak SMEs. The results of this study may provide implications for subsequent research focused on responsibility for risk management in the wider context.

On Behavioural Asymmetry in Product Liability Law

2021 ◽  
Vol 12 (1) ◽  
pp. 40-64
Author(s):  
Thomas Verheyen
Keyword(s):  
Cognitive Biases ◽  
Product Liability ◽  
Point Of View ◽  
Evidence Based ◽  
European Law ◽  
Consumer Expectations ◽  
Liability Law ◽  
The Asymmetry ◽  
New Criterion

Abstract This theoretical article identifies the asymmetry between the producer and the consumer as the key to understanding product liability law. In an attempt to resolve the endless scholarly and jurisprudential debates on the proper criterion for defectiveness in European law, it first tracks the ways in which the commonly opposed consumer expectations and risk-utility test each fail to address the typical asymmetries between producers and consumers in a satisfying manner. Building upon the concept of ‘behavioural asymmetry’, it then develops a new criterion for defectiveness under European law: the behavioural risk-utility test. Under a behavioural risk-utility test, the producer is liable if the product is not reasonably safe for average users suffering from cognitive biases and other behavioural shortcomings. This test aptly combines the systemic point of view of risk-utility balancing with an evidence-based conception of asymmetry, and therefore provides a meaningful criterion for adjudicating product liability disputes.

20. Product Liability

2019 ◽  
pp. 579-620
Author(s):  
Simon Deakin ◽  
Zoe Adams
Keyword(s):  
Consumer Protection ◽  
Product Liability ◽  
Initial Position ◽  
Minor Role ◽  
Physical Injury ◽  
Liability Law ◽  
Consumer Protection Act ◽  
American Model ◽  
A Minor ◽  
Privity Of Contract

This chapter begins by tracing the evolution of product liability law in England and America. It then discusses the causes of action and components of liability. Liability evolved from an initial position in which the law of negligence played a minor role in compensating victims of dangerously defective products, thanks largely to the ‘privity of contract fallacy’. Donoghue v. Stevenson put an end to this and ushered in the modern, all-embracing duty of care as far as physical injury and property damage are concerned. With the adoption of Directive 85/374/EEC and its subsequent implementation in the form of the Consumer Protection Act 1987, a form of strict or ‘stricter’ liability based on the American model was incorporated into English law.

Risk disclosure and risk governance characteristics: evidence from a developing economy

2020 ◽  
Vol 28 (4) ◽  
pp. 577-605 ◽  
Author(s):  
Shamsun Nahar ◽  
Mohammad Istiaq Azim ◽  
Md Moazzem Hossain
Keyword(s):  
Risk Management ◽  
Developed Countries ◽  
Business Environment ◽  
International Standards ◽  
Risk Governance ◽  
Developing Economy ◽  
Risk Disclosure ◽  
Content Type ◽  
Governance Practices ◽  
The Impact

Purpose The purpose of this paper is to explore to what extent risk disclosure is associated with banks’ governance characteristics. The research also focuses on how the business environment and culture may create a bank’s awareness of risk management and its disclosure. This study is conducted in a setting where banks are not mandated to follow international standards for their risk disclosures. Design/methodology/approach Using 300 bank-year observations comprising hand-collected private commercial bank data, the study uses regression analysis to investigate the influence of risk governance characteristics on risk disclosure. Findings This paper reports a positive relationship between risk disclosure and banks’ governance characteristics, such as the presence of various risk committees and a risk management unit. Practical implications Because studies are lacking on risk disclosure and risk governance conducted in developing countries, it is expected that this research will make a significant contribution to the literature and provide a foundation for further research in this field. Social implications This study complements the corporate governance literature, more specifically the risk governance literature, by incorporating agency theory, institutional theory and proprietary cost theory to provide robust evidence of the impact of risk governance practices in the context of a developing economy. Originality/value Previous studies on risk disclosure and governance determinants primarily involve developed countries. This paper’s contribution is to examine risk disclosure and risk governance characteristics in a developing country in which reporting according to international standards is effectively voluntary.

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