Director financial liability standards: Opportunism and deterrence

2018 ◽  
pp. 235-252
Author(s):  
Richard Williams
Keyword(s):  
Liability Standards ◽  
Financial Liability

scholarly journals THE STATUS OF EMPLOYED OF AN OFFENDER – CONDITION TO ATTRACT PATRIMONIAL LIABILITY

2015 ◽  
Vol 9 (1) ◽  
pp. 31-35
Author(s):  
Radu-Gheorghe Florian
Keyword(s):  
The Status ◽  
Financial Liability

Financial liability of the employee is a variety of contractual liability arising from specific features of legal work. This study aims to analyze the concrete situations in which the patrimony can be held liable to the employee, given the diversity of employment situations in which an employee may be engaged.

La responsabilidad patrimonial del legislador derivada de las prohibiciones de explotaciones extractivas en espacios naturales protegidos. A propósito de la sentencia del Tribunal Superior de Justicia del País Vasco de 4 de marzo de 2015 (Rec. N.º 455/2012)

2015 ◽  
pp. 257-309
Author(s):  
Javier MORENO GARCÍA
Keyword(s):  
Basque Country ◽  
Case Law ◽  
Mining Activities ◽  
Natural Areas ◽  
Mining Operations ◽  
High Court ◽  
Protected Natural Areas ◽  
A Company ◽  
Pais Vasco ◽  
Financial Liability

LABURPENA: Euskal Autonomia Erkidegoko Justizia Auzitegi Nagusiaren 2015eko martxoaren 4ko epaiaren ingurukoa da azterlan hau. Bertan aztertzen da estatu legegilearen ondare-erantzukizunari buruzko erreklamazio bat, meatzaritzan aritzen den enpresa batek aurkeztutakoa, EAEko Natura Kontserbatzeko Legeak jasotzen duen erabateko debeku batetik eratortzen diren ondare-kalteak direla-eta. Arlo horretan jurisprudentziaren doktrina berrikusten da eta, gainera, ingurumena babesteko erauzketa-jardueren inguruko debeku orokorren konstituzionaltasunaz ere zenbait ohar egiten dira. RESUMEN: Este trabajo comenta la Sentencia del Tribunal Superior de Justicia del País Vasco de 4 de marzo de 2015 (Rec. N.º 455/2012), en la que se analiza una reclamación de responsabilidad patrimonial del Estado legislador formulada por una empresa dedicada a las actividades mineras ante perjuicios patrimoniales derivados de una prohibición absoluta incorporada a la Ley vasca de conservación de los Espacios Naturales Protegidos. Se lleva a cabo una revisión de la doctrina jurisprudencial en esta cuestión y se repara en la constitucionalidad de las prohibiciones generales de actividades extractivas para la protección del medio ambiente. ABSTRACT: This work comments on the judgment by the High Court of the Basque Country of March 3rd of 2015 (Rec. Num. 455/2012) where it is analyzed a complaint for financial liability against the legislative State by a company dedicated to mining operations because of the patrimonial damages derived of the total ban incorporated by the Basque Act of Preservation of Protected Natural Areas. An analysis of the case law doctrine on this issue is carried out and it is noted the constitutionality of the general prohibitions regarding mining activities for the protection of environment.

LEGAL IMPLICATION OF THE AUDIT BOARD OF INDONESIA ON MANAGEMENT AUDIT AND FINANCIAL LIABILITY OF THE STATE AGAINST STATE-OWNED ENTERPRISES

2018 ◽  
Vol 3 (1) ◽  
pp. 75
Author(s):  
Henny Juliani
Keyword(s):  
The State ◽  
Private Finance ◽  
Management Board ◽  
State Finance ◽  
Descriptive Approach ◽  
External Auditor ◽  
Management Audit ◽  
And Control ◽  
Legal Implication ◽  
Financial Liability

The objectives of tis research is to find out implication of BPK (Auditor Board of Republic of Indonesia) in the implementation of auditing and responsibility of state finance which is manage by state own company as regulated by national regulations. This study used normative juridical and analytic descriptive approach. The study indicated that BPK has authorities to conduct finance  audit and control and ask responsibility to BUMN management board because assets of BUMN is belonged to state assest although the assests is separated, it cannot be converted to be BUMN assest. Its juridical implication, there is not transformation from state finance to private finance in managing separated state assests, consequently BPK as independent external auditor has authority  to audit professionally.

Do Coupon Expiration Dates Affect Consumer Behavior?

1994 ◽  
Vol 31 (3) ◽  
pp. 423-428 ◽  
Author(s):  
J. Jeffrey Inman ◽  
Leigh McAlister
Keyword(s):  
Consumer Behavior ◽  
Regret Theory ◽  
Expiration Date ◽  
Coupon Redemption ◽  
Second Mode ◽  
Two Cities ◽  
Financial Liability

Expiration dates are used by couponers to limit their financial liability temporally. Traditional wisdom assumes that coupon redemptions are greatest in the period immediately following the coupon drop and decline monotonically. Using regret theory, the authors predict that expiration dates induce a second mode in the redemption pattern just prior to the expiration date. They test this prediction by extending an existing coupon redemption model to incorporate an expiration effect and then estimating both the existing and the expiration models using weekly coupon redemption data for spaghetti sauce from A.C. Nielsen panels in two cities. Results are consistent with their prediction. Implications for practitioners and researchers are discussed.

Die Pflichten des Personenbeförderers

2019 ◽  
Author(s):  
Marie-Lena Schmidt-Fromme
Keyword(s):  
Detailed Analysis ◽  
Meteorological Conditions ◽  
Passenger Transport ◽  
Comprehensive Overview ◽  
Methodological Basis ◽  
Legal Remedies ◽  
Uniform Law ◽  
Liability Standards ◽  
Detailed Presentation

The comparative work gives a comprehensive overview of the obligations of the passenger carrier in the context of delays, denied boarding and overbooking for carriage by air, rail, ship, bus and coach. It contains a detailed analysis and comparison of French, German, European and international uniform law. After a detailed presentation of the legal sources and principles of the passenger transport contract, the liability standards and legal remedies for typical transport disruptions in form of delay, denied boarding and over-booking are examined. The differences and similarities are compared comprehensively. In particular, the typical causes of disturbances in form of strikes, meteorological conditions and technical defects are examined. The methodological basis is Watson‘s model of legal transplants.

The Legal Construction of Financial Liabilities: Conceptual Bases of Formation

2016 ◽  
Vol 4 (10) ◽  
pp. 0-0
Author(s):  
Наталья Омелёхина ◽  
Natalya Omelekhina
Keyword(s):  
Complex Structure ◽  
Public Law ◽  
Private Law ◽  
Structural Elements ◽  
Target Orientation ◽  
Target Characteristic ◽  
Direct Target ◽  
Legal Construction ◽  
The Right ◽  
Financial Liability

In this article the legal construction is considered as a method of cognition, interpretation of law and as means of law-making technique at the same time. The author outlines the legal construction of the financial liability and provides with its structural and substantive description. The author offers to consider the legal construction of the financial liability as an inter-branch construction that combines private law constructions and public law constructions of monetary obligations. The majority of these constructions have a complex structure, where each party has the right to claim the completion of obligations and duty to complete these obligations at the same time. In this case, the majority of studied constructions of civil obligations are characterized by counter retribution while public law constructions by counter gratuitousness. The structural elements of this inter-branch construction are subjects, object and conditions of the obligation. The paper analyzes maintenance of selected structural elements. Using the method of scientific abstraction it is proposed to allocate General and Special conditions of financial liabilities. Special conditions of financial liabilities depend on the peculiarities of private law and public law regulations and on target orientation of liabilities (on the formation or on the expenditure of public funds). The author focuses on the target characteristic of structural elements of financial liabilities legal constructions. It is proposed to allocate the total and the direct target orientation of the financial liability.

The Influence of Auditor State-Level Legal Liability on Conservative Financial Reporting in the Property-Casualty Insurance Industry

2012 ◽  
Vol 31 (3) ◽  
pp. 95-124 ◽  
Author(s):  
Jennifer J. Gaver ◽  
Jeffrey S. Paterson ◽  
Carl J. Pacini
Keyword(s):  
Financial Reporting ◽  
Insurance Industry ◽  
State Level ◽  
Third Party ◽  
Forum Shopping ◽  
Legal Concept ◽  
Auditor Liability ◽  
Loss Reserve ◽  
Legal Costs ◽  
Liability Standards

SUMMARY This paper provides the first evidence that state-level liability standards affect auditor behavior. We hypothesize that auditors demand more conservative reporting when their insurance clients are domiciled in states with more stringent standards for third-party claims against the auditor for negligence. To test this hypothesis, we analyze a sample of 3,107 loss reserve observations from 1993 through 2004. Our sample is restricted to private insurers that operate in a single state to control for auditor liability under statutory law and to reduce the possibility of forum shopping by plaintiffs. Consistent with Petroni (1992), we find that financially struggling insurers tend to under-reserve. This behavior is attenuated when the insurer is domiciled in a state that uses either the Restatement of Torts or the reasonable foreseeability standard to determine the auditor's liability to third parties. Compared to the case where the auditor's liability is defined by the legal concept of privity, these standards impose greater legal costs on auditors for ordinary negligence. JEL Classifications: M41; M42; G22; K13.

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