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Regulating Capitalism?: The Evolution of Transnational Accounting Governance
by Jochen Zimmermann Jörg R. WernerThis book charts the regulatory changes at the heart of capitalist economies; the financial reporting on financial markets. It is a unique contribution interconnecting issues both of contemporary political science and accounting research. The book contains in-depth descriptions of regulatory settings (and changes) in six countries: Canada, France, Germany, Japan, the United Kingdom and the United States and aims to takes a close look at drivers of change such as crises and globalization. The book also links these drivers of change with moderating institutional structures such as the legal and financial systems, but also the welfare states in place. Taken together, it shows how a trend to more transnationalization in accounting emerges but also its likely limits.
Regulating Cartels in India: Effectiveness of Competition Law
by Sudhanshu KumarThis book presents a comprehensive assessment of anti-cartel enforcement and investigative procedures in India. It makes a case for enhanced sanctions for cartel conduct in India. Cartels are considered the most pernicious violation of competition law, referred to as "cancer to the free market economy". While competition laws in most jurisdictions prescribe strict sanctions against cartels, Indian Competition Law provides only civil penalties, with an upper ceiling for proven cartel conduct. This volume assesses the effectiveness of anti-cartel enforcement of the Competition Commission of India (CCI). It explores investigative procedures of the CCI through multiple qualitative and quantitative indicators and the extent to which enforcement of anti-cartel laws in India has led to cartel deterrence. Further, it also examines the priorities and processes of the CCI in terms of anti-cartel enforcement, their sanctioning mechanism and their dependency of computation of penalty on varied factors. Featuring detailed case law studies and engaging data, this book will be an essential read for students and researchers of law and legal studies, competition law, corporate law, intellectual property law, and business law.
Regulating Charities: The Inside Story (Routledge Studies in the Management of Voluntary and Non-Profit Organizations)
by Myles McGregor-Lowndes Bob WyattIn this volume charity commissioners and leading charity policy reformers from across the world reflect on the aims and objectives of charity regulation and what it has achieved. Regulating Charities represents an insider’s review of the last quarter century of charity law policy and an insight for its future development. Charity Commissioners and nonprofit regulatory agency heads chart the nature of charity law reforms that they have implemented, with a ‘warts and all’ analysis. They are joined by influential sector reformers who assess the outcomes of their policy agitation. All reflect on the current state of charities in a fiscally restrained environment, often with conservative governments, and offer their views on productive regulatory paths available for the future. This topical collection brings together major charity regulation actors, and will be of great interest to anyone concerned with contemporary third sector policy-making, public administration and civil society.
Regulating China's Shadow Banks (China Perspectives)
by Qingmin Yan Jianhua LiChina’s shadow banking has been a top issue in the past few years. Scholars, policymakers, and professionals around the world are seeking deeper insight into the subject, and the authors had unique insight into the sector through their positions high up in the regulatory apparatus. "Regulating China’s Shadow Banks" focuses on the regulation of shadow banks in China and provides crucial information to demystify China’s shadow banking and associated regulatory challenges. This book defines "shadow banking" in the Chinese context, analyzes the impact of shadow banking on the Chinese economy, includes a full-scale analysis on the current status of Chinese financial regulation, and provides valuable advice on the regulation of China’s shadow banks.
Regulating Competition in Stock Markets
by Lawrence Klein Michael Wang Viktoria DalkoA guide to curbing monopoly power in stock marketsEngaging and informative, Regulating Competition in Stock Markets skillfully analyzes the impact of the recent global financial crisis on health and happiness, and uses this opportunity to put regulatory systems in perspective. Happiness is lost because of emotional and physical health deterioration resulting from the crisis. Therefore, the authors conclude that financial crisis prevention should be the focus of public policy.This book is the most comprehensive study so far on potential risks to the stock market, especially various forms of market manipulation that lead to mania and eventual crisis. Based on litigation cases from international stock markets, and borrowing multidisciplinary findings in the fields of finance, economics, accounting, media studies, criminology, legal studies, psychology, and medicine, this book is the first to provide thorough micro-level regulatory proposals rooted in financial reality. By focusing on securities trading, they apply antitrust measures to limiting monopolistic power that is used for the manipulation of investors' perception and monopolistic profit. These proposals are quantifiable, adjustable, inexpensive, and can be easily implemented by any securities regulating agency for real-time oversight and daily operations.The recommendations found here are intended to improve the fairness and transparency of the financial markets, thereby perfecting the market competition, protecting investors, stabilizing the market, and preventing crisesExplores how avoiding crises can to contribute to a more scientific, health aware, and civilized economic and social developmentWritten by a team of authors who have extensive experience in this dynamic field, including Nobel Laureate Lawrence R. KleinSince the founding of the first, organized stock exchange in Amsterdam 400 years ago, no systematic economic research results on stock markets have been implemented in stock market regulation around the world. Regulating Competition in Stock Markets aims to fill this void.
Regulating Competition: Cartel registers in the twentieth-century world (Routledge Explorations in Economic History)
by Susanna Fellman; Martin ShanahanCartels, trusts and agreements to reduce competition between firms have existed for centuries, but became particularly prevalent toward the end of the 19th century. In the mid-20th century governments began to use so called ‘cartel registers’ to monitor and regulate their behaviour. This book provides cases studies from more than a dozen countries to examine the emergence, application and eventual decline of this form of regulation. Beginning with a comparison of the attitudes to regulation that led to monitoring, rather than prohibiting cartels, this book examines the international studies on cartels undertaken by the League of Nations before World War II. This is followed by a series of studies on the context of the registers, including the international context of the European Union, and the importance of lobby groups in shaping regulatory outcomes, using Finland as an example. Section two provides a broad international comparison of several countries’ registers, with individual studies on Norway, Australia, Japan, Germany, Sweden and the Netherlands. After examining the impact of registration on business behaviour in the insurance industry, this book concludes with an overview of the lessons to be learnt from 20th century efforts to regulate competition. With a foreword by Harm Schroter, this book outlines the rise and fall of a system that allowed nations to tailor their approach to regulating competition to their individual circumstances whilst also responding to the pressures of globalisation that emerged after the Second World War. This book is suitable for those who are interested in and study economic history, international economics and business history. Chapter 10 of this book is freely available as a downloadable Open Access PDF at http://www.taylorfrancis.com under a Creative Commons Attribution-Non Commercial-No Derivatives (CC-BY-NC-ND) 4.0 license.
Regulating Corporate Human Rights Violations: Humanizing Business (Routledge Research in Human Rights Law)
by Surya DevaDespite the continuous addition of regulatory initiatives concerning corporate human rights responsibilities, what we witness more often than not is a situation of corporate impunity for human rights abuses. The Bhopal gas leak – examined as a site of human rights violations rather than as a mass tort or an environmental tragedy – illustrates that the regulatory challenges that the victims experienced in 1984 have not yet been overcome. This book grapples with and offers solutions to three major regulatory challenges to obligating companies to comply with human rights norms whilst doing business, and asks; why companies should adhere to human rights, what these responsibilities are, and how to ensure that companies comply with their responsibilities. Building on literature in the fields of law, human rights, business ethics, management, regulation and philosophy, this book proposes a new ‘integrated theory of regulation’ to overcome inadequacies of the existing regulatory framework in order to humanize business. This book will be of interest to scholars, students, researchers, policy makers and human rights activists working in the fields of Law, Business and Human Rights.
Regulating Data Monopolies: A Law and Economics Perspective
by Jingyuan MaThis book analyzes the business model of enterprises in the digital economy by taking an economic and comparative perspective. The aim of this book is to conduct an in-depth analysis of the anti-competitive behavior of companies who monopolize data, and put forward the necessity of regulating data monopoly by exploring the causes and characteristics of their anti-competitive behavior. It studies four aspects of the differences between data monopoly and traditional monopolistic behavior, namely defining the relevant market for data monopolies, the entry barrier, the problem of determining the dominant position of data monopoly, and the influence on consumer welfare. It points out the limitations of traditional regulatory tools and discusses how new regulatory methods could be developed within the competition legal framework to restrict data monopolies. It proposes how economic analytical tools used in traditional anti-monopoly law are facing challenges and how competition enforcement agencies could adjust regulatory methods to deal with new anti-competitive behavior by data monopolies.
Regulating Digital Markets: The European Approach (Palgrave Studies in Institutions, Economics and Law)
by Antonio Nicita Antonio ManganelliThis book illustrates the challenges that regulators and policy makers have faced in the transition from the ‘old’ network industries to the new digital ecosystem. It succinctly describes the evolution of digital economy, its main actors, notably global digital platforms, as well as its interactions, interdependences, and trade-offs. Eventually, it proposes insights about why public rules are needed, what kind of rules could be more effective, fair, and efficient, and who should pose and enforce them. The book is opened by an introduction, dealing with Digital Transformation, Big Techs, and Public Policies, which provides a general conceptual and thematic framework to the following analysis but could be also read as a stand-alone paper. The following chapters are grouped in two parts: I. The Evolution of Digital Markets and Digital Rights, and II. Regulating Big Tech’s Impact on Market and Society. The secondary title - the European approach – has a twofold meaning. It highlights the fact that this work has a clear focus on EU law and policy - although the economic and institutional issues addressed are global phenomena, common to all world’s economies. In addition, it also underlines that European digital policy is not yet complete and effective. This book intends to provide a small contribution to the ongoing policy making process, as well as to the wider academic and policy debate.
Regulating Early Years Service
by Peter BaldockThis work is designed for those needing to understand and comply with regulations for childhood education and care. The author relates his text to the new framework resulting from the Government's developing National Child Care Strategy. Specifically, it reflects the transfer of responsibility from social to educational services and the establishment of a new regulatory body, The Early Years Directorate, a new arm of OFSTED. Major controversial issues are elucidated and different standpoints are explained, but the book's main focus is on the need to establish a sound working relationship between the new regulatory regime, on the one hand, and proprietors, managers, practitioners and advisors on the other.
Regulating Effect of Tax on Chinese National Income Distribution (China Perspectives)
by Guo Qingwang Lv Bingyang Yue XimingThis book measures in details the department income distribution pattern among the governments, enterprises, and families in China during the years of 1978–2008; it measures and analyzes the distribution of Chinese factor income and residents’ income. In combination with Chinese taxation system and policy, it makes a deep research on the effect of factor income distribution on residents’ income distribution, the effect of taxation on factor income distribution, and the effect of taxation on residents’ income distribution. This book is favorable for answering why taxation’s regulation effect on income distribution in China is low, and why taxation reform is necessary.
Regulating FinTech in Asia: Global Context, Local Perspectives (Perspectives in Law, Business and Innovation)
by Steven Van Uytsel Mark Fenwick Bi YingThis book focuses on Fintech regulation in Asian, situating local developments in broader economic, regulatory and technological contexts. Over the last decade, Fintech – broadly defined as the use of new information technologies to help financial institutions and intermediaries compete in the marketplace – has disrupted the financial services sector. Like other 21st century technological developments, Fintech is a global phenomenon that plays out in local economic, political and regulatory contexts, and this dynamic interplay between global trends and local circumstances has created a complex and fast-changing landscape. Diverse stakeholders (most obviously incumbent financial service providers, tech start-ups and regulators) all pursue a competitive edge against a background of profound uncertainty about the future direction and possible effects of multiple emerging technologies. Compounding these difficulties are uncertainties surrounding regulatory responses. Policymakers often struggle to identify appropriate regulatory responses and increasingly turn to policy experimentation. Such issues add to the challenges for the various actors operating in the Fintech space. This situation is particularly fluid in Asia, since many jurisdictions are seeking to establish themselves as a regional hub for new financial services.
Regulating Financial Innovation: Fintech and the Information Deficit (EBI Studies in Banking and Capital Markets Law)
by Christopher RuofThis book explores the impact of 'Fintech' on the information asymmetry between the financial regulator and the markets. It details the growing regulatory mismatch and how Fintech exacerbates the “pacing problem”, where the regulator struggles to keep up with innovation. With information as a point of reference, the book adds a new perspective on the latest phenomenon in financial innovation and presents a novel framework for navigating structural changes in the financial sector. Based on this analysis, a number of proposals to reduce the information gap and avoid regulatory mismatch are discussed. Thereby, new and promising regulatory concepts, such as regulatory sandboxes and SupTech applications are also covered. This book provides a practical framework for regulatory responses to financial innovation. It will be relevant to researchers and practitioners interested in financial technology and regulation.
Regulating Foreign Direct Investment for Development: Perspectives from Bangladesh (Routledge Focus on Environment and Sustainability)
by Mia Mahmudur Rahim Nakib Mohammad NasrullahThis book offers a comprehensive overview of the relationship between Foreign Direct Investment (FDI) regulation and sustainable development in Bangladesh.It is widely accepted that FDI-induced development is essential for the growth of undeveloped economies, but it can create a conflict between the investors' goal of profit maximisation and the host state's pursuit of economic gains. FDI-induced development is especially important for the economy of Bangladesh, the focus of this book, which argues that a balanced regulatory approach is necessary to ensure that FDI benefits all stakeholders. In examining Bangladesh's FDI regulatory regime, the authors reveal that it is investor-centric and lacks a development-oriented approach. They discuss the relevant laws, practices, mechanisms, and institutions that govern the entrance regulations and incentives for foreign investment, as well as the protection of the environment and human rights, with special attention to labour rights, involuntary displacement, and the protection of both the investors and the state in which they invest. From this analysis, the book recommends reforms to introduce development as a primary goal while maintaining Bangladesh's appeal as an FDI destination.The book will be of interest to researchers, students, and academics in the fields of economics, politics, sustainable development, and economic growth. It will also be of great interest to FDI strategists, policymakers, negotiators, administrators, and legislators in creating a balanced regulatory regime to attract FDIs for development.
Regulating Gig Work: Decent Labour Standards in a World of On-demand Work (Law and Change)
by Joellen Riley Munton Michael RawlingDigital revolution demands new approaches to regulating work. The “Uberisation of work” is not in reality a new phenomenon. It reintroduces the practices of ‘on demand’ engagement of labour common prior to the development of continuing employment. What is new, however, is the capacity of digital technology to engage labour in ways that avoid characterization as employment according to the legal tests developed in the 20th Century. This book tackles the challenge of ensuring that the emerging tribes of ‘gig’ workers in labour markets across the globe are afforded decent standards of work. This book discusses how to provide decent conditions and safe working standards for on demand workers engaged through digital platforms. It interrogates the rise of gig work, and the legal strategies that might be engaged to deal with the risk that on demand work will fall and remain outside of employment protections. It draws on observations of practices across the globe, but focuses particularly on regulatory solutions developed in Australia. The book will be a useful reference to policy making and legal reforms to address vulnerabilities of gig workers.
Regulating Global Corporate Capitalism
by Sol PicciottoThis analysis of how multi-level networked governance has superseded the liberal system of interdependent states focuses on the role of law in mediating power and shows how lawyers have shaped the main features of capitalism, especially the transnational corporation. It covers the main institutions regulating the world economy, including the World Bank, the IMF, the WTO and a myriad of other bodies, and introduces the reader to key regulatory arenas: corporate governance, competition policy, investment protection, anti-corruption rules, corporate codes and corporate liability, international taxation, avoidance and evasion and the campaign to combat them, the offshore finance system, international financial regulation and its contribution to the financial crisis, trade rules and their interaction with standards especially for food safety and environmental protection, the regulation of key services (telecommunications and finance), intellectual property and the tensions between exclusive private rights and emergent forms of common and collective property in knowledge.
Regulating Human Research: IRBs from Peer Review to Compliance Bureaucracy
by Sarah BabbInstitutional review boards (IRBs) are panels charged with protecting the rights of humans who participate in research studies ranging from biomedicine to social science. Regulating Human Research provides a fresh look at these influential and sometimes controversial boards, tracing their historic transformation from academic committees to compliance bureaucracies: non-governmental offices where specialized staff define and apply federal regulations. In opening the black box of contemporary IRB decision-making, author Sarah Babb argues that compliance bureaucracy is an adaptive response to the dynamics and dysfunctions of American governance. Yet this solution has had unforeseen consequences, including the rise of a profitable ethics review industry.
Regulating Information Asymmetry in the Residential Real Estate Market: The Hong Kong Experience (Routledge Studies in International Real Estate)
by Devin LinThis book conducts a detailed examination of the current form of the Hong Kong residential property regulatory system: the 2013 Residential Properties (Firsthand Sales) Ordinance (Cap 621). The author sheds light on how the new legislation promotes a number of values including information symmetry, consumer protection, the free market and business efficacy. It provides a detailed account of how the regulatory mechanism has evolved over the past three decades to catch unconsscionable sales tactics (such as selective information and/or misrepresentation of location, size, completion date and past transactions) and monitor sales practices in order to protect the interests of stakeholders in this ever-changing first-hand residential property market. This book breaks down this complicated subject matter by focusing a number of chapters each on a specific attribute of the residential property on sale. It then examines the various channels through which the information is communicated to the prospective buyer and discusses misrepresentation of the key information in sales of residential properties as criminal liability.The tension between consumer’s rights on one hand and the pursuit of free market principles on the other is but one example of the conflicting values thoroughly discussed in the book, others include superstition vs. modernization and clarity vs. flexibility. Aimed at those with an interest in consumer protection and transparency-orientated legislation in commercialized real estate transactions, this book seeks to provide an in-depth discussion of the latest trends and directions of travel.
Regulating Infrastructure: Monopoly, Contracts, and Discretion
by José A. Gómez-IbáñezThis wide-ranging study of urban infrastructure &“offers a series of fascinating arguments&” in favor of market-oriented approaches to regulation (Times Higher Education Supplement). In the 1980s and &‘90s, many countries turned to the private sector to provide infrastructure and utilities—such as gas, telephones, and highways—with the idea that market-based incentives would control costs and improve the quality of essential services. But high-profile failures have since raised troubling questions about privatization. This book addresses one of the most vexing of these: how can government fairly and effectively regulate &“natural monopolies&”—those infrastructure and utility services whose technologies make competition impractical? Mapping out various approaches to regulation, José Gómez-Ibáñez draws on a wealth of case studies, as well as history, politics, and economics. He makes a strong case for favoring market-oriented and contractual approaches over those that grant more discretion to government regulators. He shows how contracts can provide stronger protection for infrastructure customers and suppliers—and greater opportunities to tailor services to their mutual advantage. At the same time, he highlights scenarios where alternative schemes may be needed.
Regulating Investor Protection under EU Law: The Unbridgeable Gaps with the U.S. and the Way Forward
by Antonio MarcacciThis book analyzes the legal system for the protection of retail investors under the European Union law of investment services. It identifies the regulatory leitmotiv driving the EU lawmaker and ascertains whether and to what extent such a system is self-sufficient, using a set of EU-made and EU-enforced rules that is essentially different and autonomous from the domestic legal orders. In this regard, the book takes a double perspective: comparative and intra-firm. Given the federal dimension of the US legal system and, thus, the “role-model” it plays vis-à-vis the EU, the book compares the two systems. To fully highlight the existing gaps and measure how self-sufficient the EU system is against its American counterpart, the Union/Federal level as such is analyzed – i.e., detached from the national (in EU terms) and State (in US terms) level. Regulating Investor Protection under EU Law also showcases the unique intra-firm perspective from a European investment firm and analyzes how EU-produced public-law rules become a set of compliance requirements for investment services providers. This “within-the-firm” angle gauges the self-sufficiency of the EU system of retail investor protection from the standpoint of an EU-regulated entity. The book is intended for both compliance professionals and academic scholars interested in this topic while also including illustrative sections intended to provide a broader regulatory view for less-experienced readers.
Regulating Long-Term Care Quality
by Anna Maresso Vincent Mor Tiziana LeoneThe number of elderly people relying on formal long-term care services is dramatically increasing year after year, and the challenge of ensuring the quality and financial stability of care provision is one faced by governments in both the developed and developing world. This edited book is the first to provide a comprehensive international survey of long-term care provision and regulation, built around a series of case studies from Europe, North America and Asia. The analytical framework allows the different approaches that countries have adopted to be compared side by side and readers are encouraged to consider which quality assurance approaches might best meet their own country's needs. Wider issues underpinning the need to regulate the quality of long-term care are also discussed. This timely book is a valuable resource for policymakers working in the health care sector, researchers and students taking graduate courses on health policy and management.
Regulating Multinationals in Developing Countries: A Conceptual and Legal Framework for Corporate Social Responsibility (Corporate Social Responsibility)
by Edwin MujihEdwin Mujih explores the difficulties associated with regulating multinational companies operating in developing countries, with a particular focus on extractive industries. The author highlights the need to establish an international legally binding framework to ensure that multinationals operate in a socially responsible manner to protect local communities and the environment. Edwin Mujih’s analysis reveals that the existing mechanisms for controlling the behaviour of huge multinational entities are of normative force only, that these are particularly inadequate, and that the notion of corporate social responsibility is only meaningful where behaviour can be legally regulated. Regulating Multinationals in Developing Countries features a study of the Chad and Cameroon Oil and pipeline project, which highlights the problems arising in countries that have neither the capacity nor the will to effectively regulate those operating within their borders. The author has evaluated compliance by the parties with their social and environmental obligations. He has found that, despite controversy surrounding inadequate regulation of this project in its incipient stages, the system that was put in place following huge opposition from the affected communities and from NGOs is worthy of attention and could stand as a model for similar projects elsewhere. This first title in Gower's Corporate Social Responsibility Series to approach CSR from a legal perspective provides insight not just into the complexity surrounding efforts to regulate multinationals operating in countries with weak regulatory regimes, but also into the fundamental nature of multinational corporations and the debate about different notions of CSR itself.
Regulating New Forms of Employment: Local Experiments and Social Innovation in Europe (Routledge Studies in the Political Economy of the Welfare State)
by Ida RegaliaUsing a comparative framework, this new volume focuses on how non-standard employment can be regulated in very different social, political and institutional settings. After surveying these new forms of work and the new demands for labour-market regulation, the authors identify possible solutions among local-level actors and provide a detailed analysis of how firms assess the advantages and disadvantages of flexible forms of employment. The authors provide six detailed case studies to examine the successes and failures of experimental approaches and social innovation in various regions in the UK, France, Germany, Italy and Spain.
Regulating Open Banking: Comparative Analysis of the EU, the UK and Taiwan (Routledge Research in Finance and Banking Law)
by Chang-Hsien Tsai Kuan-Jung PengFinTech transformations have brought changes to the global financial markets and merit the attention of financial regulators across jurisdictions. This book is one of the first ones of its kind to look at open banking (OB). It examines regulatory approaches to OB by taking a broad view of comparative legal systems and through perspectives of transaction costs, public choice, and institutional design. The book looks at the legal implications by engaging in a two-tiered comparative analysis: comparing between compulsory and voluntary approaches to OB policies and comparing the legal systems between the West (i.e., the EU and the UK) and an Asian economy (i.e., Taiwan).
Regulating Pharmaceutical Prices in India: Policy Design, Implementation And Compliance (India Studies in Business and Economics)
by Ajay BhaskarabhatlaThis book presents an extensive study on the effectiveness of recent regulations on pharmaceutical prices in India, exploring the weaknesses in the design and implementation of pharmaceutical price controls and investigating what can be done to fix the broken system.In addition, it examines the extent to which essential medicines are actually made affordable by price controls. The book argues that companies make the pharmaceutical price control regime largely ineffective by coordinating to increase pre-regulation prices; by diversifying horizontally away from the regulated markets and increasing prices in the unregulated markets; by manipulating trade margins; and by refusing to comply with the regulation because the penalties remains negligible.The book draws on extensive empirical research involving India’s 2013 Drug Price Control Order and widely-used medicines such as paracetamol and metformin to illustrate how firms have weakened regulation. It argues that the regulatory regime can be strengthened by using systematic analysis of product- and region-level data in the Indian pharmaceutical industry, and by screening for the strategies that firms currently employ to circumvent regulation. In closing, it discusses recent efforts to strengthen the implementation of price controls in India and expanding the scope of price controls to medical devices.