scholarly journals PAKISTAN'S NATIONAL AVIATION POLICY (2015) FLIGHT PATH, CROSS WINDS & OFF-COURSE

2017 ◽  
Vol 8 (1) ◽  
pp. 92-107
Author(s):  
Wali Mughni
Keyword(s):  
Market Access ◽  
Emerging Economy ◽  
Flight Path ◽  
International Standards ◽  
Remedial Measures ◽  
Security Assurance ◽  
Aviation Policy ◽  
External Stakeholder ◽  
Strategic Direction ◽  
Forward Looking

Pakistan is an emerging economy where the aviation policy, promulgated in April 2015, was designed to dramatically boost aviation activities, which in turn was expected to enhance the country’s economy. Ownership and market access liberalization, stringent adherence to international standards, subsidies, taxes and duty exemptions/reduction, emphasis on education, investor friendly environment, greater safety and security assurance, and above all, travel and business friendly culture was the strategic direction that Pakistan’s forward looking National Aviation Policy anticipated to achieve. Well after a year of promulgation, poor internal and external stakeholder buy-in of the policy continues to mar expectations of the industry’s stability, growth and prosperity. This paper critically looks at stakeholder apprehensions and suggests possible remedial measures that may be adopted for a course correction.

Investor protection: effects of takeover convergence

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Jyoti Dixit ◽  
Poonam Singh ◽  
Arunima Haldar
Keyword(s):  
Corporate Governance ◽  
Common Law ◽  
Investor Protection ◽  
Critical Role ◽  
Emerging Economy ◽  
International Standards ◽  
Governance Mechanism ◽  
Content Type ◽  
Global Standards ◽  
Corporate Governance Mechanism

Purpose Takeovers play a critical role as an external corporate governance mechanism to ensure investor protection. There is a long-standing debate on whether the convergence of corporate governance to global standards can enable emerging economies to ensure investor protection. This paper aims to analyse the evolution of the takeover code, namely, Securities Exchange Board of India’s Substantial Acquisition of Shares and Takeovers (2011) in India from the lens of investor protection. It then compares the takeover provisions in India, the USA, the UK, Singapore and Australia to examine the extent of convergence and its implications for investor protection. Design/methodology/approach Using a cross-national comparative analysis of takeover mechanisms in common law countries, the study analyses the extent and relevance of convergence in form. The focus of the comparison is on regulations governing offer size, offer price, creeping acquisition and initial trigger limit for the mandatory open offer. Findings The findings suggest that certain provisions such as the initial trigger threshold for the mandatory offer and the offer prices of the Indian takeover code are converging with the standards in common law countries. However, the offer price determination based on market prices may not reflect true market value in an inefficient market like India. Other provisions such as creeping acquisition and offer size are not only diverging from the international standards but are also inconsistent with the key objective of investor protections of the Indian regulator. Research limitations/implications Indian takeover regulation needs to converge to higher global standards to ensure adherence to improved investor protection. This needs to be done for the initial trigger limit for mandatory bid and offer prices, after accounting for the differences in institutional structure. The Indian regulators need to revisit provisions on the initial trigger, creeping acquisition to converge to the broader principle of investor protection. Originality/value This technical paper provides a comprehensive depiction of takeover mechanisms in an emerging economy context as a means of investor protection. Further using a comparative lens, it analyses the relevance of convergence of takeover laws. Thus, advances the theoretical knowledge of limited extant work on external corporate governance mechanism in an emerging economy context.

scholarly journals A review of methods for assessing and managing market access and biosecurity risks using systems approaches

2013 ◽  
Vol 66 ◽  
pp. 1-9 ◽  
Author(s):  
L.E. Jamieson ◽  
H.N. DeSilva ◽  
S.P. Worner ◽  
D.J. Rogers ◽  
M.G. Hill ◽  
...  
Keyword(s):  
Risk Management ◽  
Systems Approach ◽  
Market Access ◽  
Plant Protection ◽  
World Trade Organisation ◽  
International Standards ◽  
Management Effectiveness ◽  
Systems Approaches ◽  
Complex Processes ◽  
Phytosanitary Measures

Systems approaches to managing risks on a pathway are increasingly seen as alternatives to singlepoint risk management treatments applied at the border One key challenge of systems approaches is the difficulty in measuring risk management effectiveness across an entire pathway comprising many complex processes The World Trade Organisation (WTO) agreement on the application of Sanitary and Phytosanitary measures (SPS) states that measures must be applied only to the extent required to achieve an appropriate degree of sanitary/phytosanitary protection (not unnecessarily traderestrictive) and must use sciencebased risk assessment The framework for import risk analysis within the scope of the International Plant Protection Convention (IPPC) is outlined in the International Standards for Phytosanitary Measures (ISPMs) Although a systems approach and independent risk reduction system processes are described in various ISPMs the methodology for determining risk across an entire pathway with complex processes is not This contribution reviews methodologies with potential for such use

scholarly journals International Food Standards and WTO Law

2014 ◽  
Vol 19 (2) ◽  
pp. 217
Author(s):  
Mariela Maidana-Eletti
Keyword(s):  
Market Access ◽  
Case Law ◽  
International Standards ◽  
Information Costs ◽  
Food Governance ◽  
Legal Implications ◽  
Food Standards ◽  
Range Of Functions ◽  
Domestic Products ◽  
Shed Light

Standards are used in all realms of human activity in order to specify the characteristics of a product, or its manufacture. In the process, they fulfil a range of functions, such as lowering risks, increasing trust and facilitating predictability in a given market. Standards reduce information costs for market players, which in turn allows for a more efficient functioning of the market. For international trade in foodstuffs, harmonisation of the wide variety of food standards is essential in order to facilitate the global food-sourcing trend. As traditional market access barriers are dismantled, non-tariff measures offer a tool for the potential protection of domestic products, thus calling for effective forms of food governance. This article explores the legal implications of international standards under the TBT Agreement in the light of the WTO Appellate Body’s case law. It further analyses the role played by international standard-setting organisations, such as the CAC and the ISO, in predicting the outcome of pending WTO disputes. Against this backdrop, this article also attempts to shed light on the current legal debate surrounding the use of private food standards within the SPS Committee.

Cognitive Factors Mediate the Relation Between Age and Flight Path Maintenance in General Aviation

2016 ◽  
Vol 6 (2) ◽  
pp. 81-90 ◽  
Author(s):  
Kathleen Van Benthem ◽  
Chris M. Herdman
Keyword(s):  
Cognitive Functioning ◽  
Flight Path ◽  
General Aviation ◽  
Cognitive Factors ◽  
Pilot Performance ◽  
Pilot Error ◽  
Age Related ◽  
And Performance ◽  
Relationship Of ◽  
The Relationship

Abstract. Identifying pilot attributes associated with risk is important, especially in general aviation where pilot error is implicated in most accidents. This research examined the relationship of pilot age, expertise, and cognitive functioning to deviations from an ideal circuit trajectory. In all, 54 pilots, of varying age, flew a Cessna 172 simulator. Cognitive measures were obtained using the CogScreen-AE ( Kay, 1995 ). Older age and lower levels of expertise and cognitive functioning were associated with significantly greater flight path deviations. The relationship between age and performance was fully mediated by a cluster of cognitive factors: speed and working memory, visual attention, and cognitive flexibility. These findings add to the literature showing that age-related changes in cognition may impact pilot performance.

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