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Journal articles on the topic 'Investor protection system'
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1
Kozłowski, Tomasz. "INVESTOR PROTECTION AND FINANCIAL SYSTEM STRUCTURE." Ekonomia i Prawo 2, no. 1 (December 31, 2006): 49. http://dx.doi.org/10.12775/eip.2006.002.
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Zhang, Lin. "Undue Interference of Governments and the Dysfunctional Legal Regime for Safeguarding Investors in China." Business Law Review 41, Issue 3 (May 1, 2020): 89–96. http://dx.doi.org/10.54648/bula2020101.
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The Chinese authorities always purport that they aim to purify the Chinese securities market and enhance the legal protection for investors, but the reality is bleak and disappointing. Confronted with the torrent of corporate scandals, legal scholars have already contributed abundant intellectual products on improving the investors’ protection in Chinese state-controlled listed companies. However, the majority of these contributions focus on the refinement of relevant legal institutions on safeguarding investors in Chinese law, or the transplantation of new ones from major commercial jurisdictions. Few of them pay attention to the link between undue government interference and the malfunction of existing investor-oriented mechanisms of the Chinese legal system. This article demonstrates that apart from legal defects, undue governmental interference which disrupts the functioning of investor-friendly legal institutions in place is another non-negligible factor, or even the most fundamental one in the context of China, to explain the porous investor protection in Chinese state-controlled listed companies. Therefore, in order to improve investor protection in Chinese statecontrolled listed companies, the political reform on the establishment of a public servant government, which has been underway in China must be continued. Chinese securities market, legal protection for investors, state-owned enterprises (SOEs), corporate governance framework; China, Government, Interference, Law, Investors.
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de Swart, Fai. "The Use of Mailbox Companies in International Investment Protection." European Company Law 12, Issue 1 (February 1, 2015): 19–25. http://dx.doi.org/10.54648/eucl2015004.
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To obtain a favourable protection for their investments, investors have resorted to treaty shopping in which an investor locates a newly set up legal entity (usually a mailbox company) in another jurisdiction. First, an overview is provided of the system of international investment protection, mainly elaborating on the definitions and criteria as for instance, the investment and investor definition. Then, on the use of mailbox companies in international investment protection is discussed.
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Geller, Gabriel, and Maria João Guedes. "Political institutions and investor protection." Corporate Ownership and Control 17, no. 4, Special Issue (2020): 339–52. http://dx.doi.org/10.22495/cocv17i4siart11.
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This study examines how political institutions are associated with investor protection. Our results show that consensual political institutions have higher creditor protection but lower minority shareholder protection. Further, the system of government (parliamentary vs. presidential) and the level of democracy are the two dimensions of political institutions that best explain investor protection. The study presents some recommendations that add to the debate that shows that there is no single political theory or set of factors that fully explain the range of outcomes across OECD countries, and that looking to other dimensions of political institutions are useful to explain investor protection.
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Sulistyani, Ratu Vidi, Anis Mashdurohatun, and Lathifah Hanim. "The Protection of Investor Rights in Margin Transactions By Securities Companies when Force Selling is Performed." Law Development Journal 3, no. 4 (December 31, 2021): 774. http://dx.doi.org/10.30659/ldj.3.4.774-789.
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The purpose of this study is to analyze investor rights protection arrangements in the analysis of margin transaction financing and the implementation of investor rights protection arrangements in the analysis of margin transaction financing by Stock Exchange Companies when a share sale is forced. The research method applied is sociological juridical.The results of this study show The regulation on the protection of investor rights in the analysis of margin transaction financing by a Stock Exchange Company when a share sale is made by force has actually been regulated in a letter of agreement, which is stated in Bapepam-LK Rule Number VD6. The existence of these regulations has fulfilled the legal protection aspects for investors as regulated in the Civil Code, but has not fulfilled the investor legal protection aspects as regulated in the Capital Market Law and the Consumer Protection Law. The implementation of the protection of investors' rights in the analysis of margin transaction financing by the Stock Exchange Company when a forced sale of shares is carried out has been carried out through a contract accompanied by the implementation of an internal control system and the implementation of haircuts by the IDX.Keywords: protection, margin transactions, forced sell.
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Lepore, Luigi, Francesco Paolone, Sabrina Pisano, and Federico Alvino. "A cross-country comparison of the relationship between ownership concentration and firm performance: does judicial system efficiency matter?" Corporate Governance: The International Journal of Business in Society 17, no. 2 (April 3, 2017): 321–40. http://dx.doi.org/10.1108/cg-03-2016-0049.
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Purpose The purpose of this paper is to analyze the relationship between ownership structure and firm performance, including judicial system efficiency as a moderator to investigate the joint effects of both explanatory variables. Although prior studies have considered judicial system efficiency by examining de jure investor protection, this study identifies another useful proxy and explores de facto legal protection. Design/methodology/approach Ordinary least square multiple regression models were used to examine the influence of judicial efficiency, which was measured using the disposition time (DT) and legal origin, as a moderator of the relationship between ownership concentration and firm performance for a sample of 565 non-financial companies listed in Italy, France, Germany and Spain in 2013. Findings This paper shows that de facto investor protection ensured by an efficient judicial system is relevant to the relationship between firm performance and ownership structure. As a moderator variable, DT strengthens the intensity of this relationship in countries with low judicial efficiency, showing that ownership concentration leads to a better enhancement of firm performance and is, therefore, a more efficient governance mechanism in countries in which investor protection is weak. Originality/value The evidence presented expands the understanding of the link between firm performance and ownership structure. The institutional deficiencies suggest that internal governance mechanisms may substitute for external mechanisms in facilitating efficient governance. This study corroborates policymakers’ concerns regarding the efficiency of judicial systems and their role in protecting the rights of minority shareholders. The results suggest a need for more efficient external mechanisms of investor protection to facilitate investment in equity capital. Moreover, this study shows that DT is a more accurate measure of investor protection than the traditional measure of de jure legal protection.
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Pagano, Marco, and Paolo F. Volpin. "The Political Economy of Corporate Governance." American Economic Review 95, no. 4 (August 1, 2005): 1005–30. http://dx.doi.org/10.1257/0002828054825646.
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We analyze the political determinants of investor and employment protection. Our model predicts that proportional electoral systems are conducive to weaker investor protection and stronger employment protection than majoritarian systems. This prediction is consistent with international panel data evidence. The proportionality of the voting system is significantly and negatively correlated with shareholder protection in a panel of 45 countries, and positively correlated with employment protection in a panel of 21 OECD countries. Other political variables also affect regulatory outcomes, especially for the labor market. The origin of the legal system has some additional explanatory power only for employment protection.
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Anderson, Anne, Parveen P. Gupta, and Andrey Zagorchev. "Does a country’s financial and legal systems contemporaneously impact the governance and performance relationship: Further evidence?" Corporate Ownership and Control 9, no. 4-3 (2012): 279–308. http://dx.doi.org/10.22495/cocv9i4c3art2.
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We investigate the impact of continuous measures of the financial system and investor protection on the corporate governance-performance relationship. We find that shareholder suits rights/stock market capitalization (disclosure rights/stock market capitalization) has monotonic (non-monotonic) relation with firm performance and that high-levels of stock market capitalization and investor protection generate valuation synergies. Besides interactions of financial and legal systems with corporate governance, market- (bank-) orientation and development and stronger (weaker) investor protection along with better (worse) corporate governance are associated with higher (lower) valuations. A country’s migration to a developed stock market with enhanced investor protection is related to better corporate governance and firm performance.
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Tan, Wenhao, Yun Sun, Jianfeng Zhao, and Dian Sun. "Accounting firms transformation and investor protection." ITM Web of Conferences 45 (2022): 01075. http://dx.doi.org/10.1051/itmconf/20224501075.
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The outburst of financial crisis gives a big hit to the global capital market, and makes the investors had a new cognition about the CPA (Certified Public Accountants). The capital market cannot develop healthily without the certified public accountants. The article aims to explain the legal responsibility of special general partnership, to expound the operation mechanism and responsibility formation mechanism of general partnership. It also aims to make a further analysis on problems of legal responsibility in special general partnership, in order to put forward how to define error or fraud, to set up the responsibility evaluation standard and restriction mechanism. The final purpose is to create a good guarantee system for the investors and promote the healthy development of capital market.
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Wardhani, Ratna. "The role of investor protection in corporate governance and accounting harmonization: Cross-country analysis in Asia." Journal of Economics, Business & Accountancy Ventura 18, no. 2 (August 28, 2015): 267. http://dx.doi.org/10.14414/jebav.v18i2.453.
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The purpose of this research is to analyze the effect of law system for investor protection on implementation of corporate governance at company level and degree of convergence of local accounting standards to IFRS (International Financial Reporting Standards). The result shows that investor protection has positive effect on implementation of corporate governance and degree of convergence of local standard to IFRS. The evidence is consistent with the argument that firm can establish law environment well for their own, but the quality of corporate investor protection via implementation of corporate governance mechanisms will depend on efficiency of judicial system of the country where the firm operates; and the quality of accounting standard in one country is a signal of country’s commitment to investor protection in order to provide good protection for its investor; a country will tend to adopt higher quality of accounting standard to ensure financial reporting transparency. This indicates that investor protection can be the key to the quality of other governance mechanisms, both at institutional level such as accounting standards, and also at firm level such as corporate governance implementation.
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Titi, Catharine. "Are Investment Tribunals Adjudicating Political Disputes?" Journal of International Arbitration 32, Issue 3 (May 1, 2015): 261–88. http://dx.doi.org/10.54648/joia2015011.
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Conceived from its inception as a tool for the depoliticization of disputes involving a foreign investor and a sovereign state, Investor-State Dispute Settlement (ISDS) has emerged as a popular alternative to state justice and diplomatic protection and it has evolved into the centrepiece and guarantor of the international system of investment protections. And yet, despite the common perception of its neutrality as a forum for the non-political resolution of disputes, the scope of subject matters that fall within the purview of arbitral control and the utilization of political means by states and investors alike in order to interfere with or influence the arbitral process shed light on some unusual aspects of investment arbitration and reveal that ISDS has been heading down a trajectory of repoliticization.
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Azimova, Hulkar. "THE IMPORTANCE OF LEGAL AND INSTITUTIONAL FUNDAMENTALS IN ATTRACTING FOREIGN INVESTMENT." INNOVATIONS IN ECONOMY 4, no. 5 (May 30, 2021): 32–37. http://dx.doi.org/10.26739/2181-9491-2021-5-5.
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This article describes the essence of foreign investment, the introduction of a comprehensive system of legal guarantees and benefits for foreign investors. The issues of strengthening the protection of the legitimate interests of investors in attracting foreign investment are also discussed.Keywords:investment project, investment commitment, investment policy, foreign direct investment, foreign investor rights, investment agreement, legal regime, investment visa
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Effendi, Arif. "PERLINDUNGAN HUKUM TERHADAP INVESTOR DALAM INVESTASI MELALUI REKSADANA SYARIAH DI IDONESIA." Mamba'ul 'Ulum 16, no. 2 (October 26, 2020): 37–49. http://dx.doi.org/10.54090/mu.16.
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Arif Effendi, Legal Protection to Investors in Investment trough Sharia Reksadana (mutual funds) in Indonesia. This paper talk about legal protection to investors in Sharia Reksadana under sharia principles or Islamic law and Positive law in Indonesia. Reksadana is an instrument used to raise funds from the investor community to be reinvested in securities portfolio by the Investment Manager. Sharia Reksadana is a mutual fund that operates under the terms and principles of Islamic Sharia, either in the form of a contract between the owner of the property (sahib al-mal) and the Investment Manager as the representative of shahib al-mal, or between the Investment Manager as a representative of shahib al-mal with investment users. The operational mechanism in Sharia Reksadana between Investor and Investment Manager is done by wakala system. Meanwhile the operational mechanism between Investment Manager and Investment user (mudharib) is done by mudaraba system. Non-bank financial institutions such as Sharia Reksadana based on their operations using sharia principles. In that principle, prohibited all elements that are not in accordance with sharia. That are Riba (usury), Gharar (uncertainty), Maysir (gambling/speculation), etc. Wakala system, mudaraba system, and positive law agreement are needed to protect the investors. Profit sharing is the most appropriate system as a substitute for interest, to avoid riba (usuary). Sharia Reksadana is one of financial institutions that implements a system of profit sharing in the agreement in what we call mudaraba system. By implementing profit sharing sistem it is hoped to be free from riba (usury).
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Kopti, Ala’a. "Investor-state Dispute under International Investment Law." International Journal of Economics, Business and Management Research 06, no. 04 (2022): 95–106. http://dx.doi.org/10.51505/ijebmr.2022.6408.
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Since the last century international investment law has been developing along with the increasing number of international investment agreements such as bilateral investment treaties aiming at efficient protection for foreign direct investment. The idea to introduce comprehensive protection for foreign direct investment appeared with the States started to perceive that foreign direct investment is a must for the prosperity of economic development of the countries. Since the international investment regime has emerged it started to become universal and uniform in the international economy. The establishment of the International Centre for Settlement of Investment Disputes was a crucial step for the protection of foreign direct investment in the international investment regime. The investor-state dispute settlement system has been developing through innovations introduced by parties of the international investment regime. However, Investor-State arbitration has remained as one of the most efficient mechanisms in the investor-state dispute settlement system throughout the years.
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Helalat, Mohamad Ali. "The legal guarantees to protect foreign investment in Jordan." Journal of International Trade Law and Policy 21, no. 1 (October 11, 2021): 1–15. http://dx.doi.org/10.1108/jitlp-01-2021-0003.
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Purpose This paper aims to indicate that the foreign investment system in Jordan includes many provisions that create an appropriate environment for encouraging foreign investments and grant a distinctive treatment for the foreign investor that allows them the status equal to the national investor. Design/methodology/approach This study deals with the protection provided by the Jordan Government for foreign investments to attract foreign investment by studying the guarantees given by Jordan including many legal principles that encourage investment. The legal guarantees for the foreign investor enhance the confidence of the foreign investor in the host country. Findings The system provides a lot of guarantees with respect to non-commercial risks to which the foreign investor may be exposed. Originality/value The paper also clarifies that the role played by bilateral agreements in the field of investments, as these agreements give foreign investments a measure of protection through the guarantees and they are considered as incentives for the investor.
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Tampi, Mariske Myeke. "LEGAL PROTECTION FOR BITCOIN INVESTORS IN INDONESIA: TO MOVE BEYOND THE CURRENT EXCHANGE SYSTEM." Jurnal Hukum & Pembangunan 47, no. 1 (March 31, 2017): 83. http://dx.doi.org/10.21143/jhp.vol47.no1.136.
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Bitcoin telah menarik investor di seluruh dunia karena menyajikan pilihan yang menarik untuk sistem moneter saat ini. Ini adalah mata uang virtual yang dapat berpotensi menggantikan mata uang moneter yang ada karena menawarkan konsep baru pembayaran dikenal sebagai reksa persetujuan tanpa bergantung pada kepercayaan untuk setiap bank atau desentralisasi. Bitcoin sebagai mata uang telah diberlakukan di beberapa negara, meskipun tanggapan telah kecurigaan dan memperingatkan.Makalah ini akan memeriksa bitcoin isu-isu terkait menggunakan pendekatan normatif-yuridis dan kritis dalam konteks hukum yang berlaku di Indonesia, Undang-Undang Nomor 11 Tahun 2008 tentang Informasi dan Transaksi Elektronik. Sejauh ini, undang-undang serupa telah diberlakukan oleh California, Uni Eropa dan Singapura untuk menangani masalah-masalah mata uang virtual. Tujuan dari makalah ini adalah untuk menggambarkan bitcoin, mengapa mata uang dan bagaimana kerangka perlindungan hukum untuk Bitcoin investor di Indonesia.Berdasarkan luas-tersebar adopsi bitcoin dan sisi gelap dari kasus bitcoin membentuk sikap pemerintah tentang bitcoin di Amerika Serikat, makalah ini mengeksplorasi bagaimana memberikan peraturan yang tepat untuk melindungi bitcoin investor di Indonesia.
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Dickson, Moses Oruaze. "Rebalancing international investment agreements in favour of host states." International Journal of Law and Management 60, no. 2 (March 12, 2018): 452–69. http://dx.doi.org/10.1108/ijlma-01-2017-0007.
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Purpose The purpose of this study is to examine the nature of the protection afforded to foreign investors and whether this protection has been exercised to the detriment of host states. In other words, is the regulatory authority of host states being compromised by the content of the investment agreements entered into? If so, is there scope for reform? The need to reform investor-state arbitration was recently pushed forward by the European Union Commission in the Transatlantic Trade and Investment Partnership. Design/methodology/approach It is conceptual. Findings It proposed an investment court system as a replacement for investor-state arbitration. However, there is great ambivalence on whether these reforms would result in a rebalance of investment agreements in favour of host states. Thus, this paper provides a range of solutions to the challenges posed by investor-state arbitration through proposals for a regional and world investment court. Research limitations/implications The findings made in this research will inform both academics and practitioners in the field of international law on whether the investment court proposal will bring about the desired changes. Originality/value Secondary sources
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de Germiny, Lorraine, Nhu-Hoang Tran Thang, and Duong Ba Trinh. "The EU-Vietnam Investment Protection Agreement Investor-State Dispute Settlement Mechanism in Perspective." European Investment Law and Arbitration Review Online 4, no. 1 (December 16, 2019): 124–46. http://dx.doi.org/10.1163/24689017_00401006.
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The EU-Vietnam Investment Protection Agreement (EVIPA) represented the culmination of three years of negotiations between the EU and Vietnam. Although it remainsto be ratified, it promises to have an impact on the international investment treaty landscape. The treaty contains innovations ranging from its definition of the substantive protections afforded to foreign investors to its definition of ‘investments’ and ‘investors’ that may qualify for those protections, as well as the procedural modalities for the treatment of possible disputes. Its most distinctive trait, however, is its establishment of a semi-permanent adjudicatory body akin to an investment court in replacement of the arbitration model envisaged by the vast majority of investment treaties over the past several decades. Rather than attempt to reform, the evipa drafters have done tabula rasa and opted for revolution instead. The EVIPA’S envisaged method to select, appoint, and remunerate the members of that body – both at the first instance level and at the appellate level – represents an abrupt and profound abandonment of the traditional arbitration model so frequently and presently used in international disputes around the world. The evipa may thus present an opportunity to test an alternative dispute resolution system and thus to aid in determining the most effective and appropriate method to resolve the international investor-State disputes of the future.
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Saad, Ahmed, and Mahmoud Elsayed. "Determinants of capital adequacy at the Egyptian investors compensation fund." Corporate Ownership and Control 13, no. 2 (2016): 31–38. http://dx.doi.org/10.22495/cocv13i2p3.
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The purpose of this study is to investigate the protection system of investors in the Egyptian stock markets, using a number of econometric techniques and hand-collected data of Egyptian Investor Protection Fund over the period from 2006 to 2014. We measure the capital adequacy through two variables, which may be a benchmark in it selves or can be compared to similar regimes at developed stock markets, these variables are: the fund reserves as a percentage of market capitalisations and fund reserves available to compensate owners of the market capitalisations, which in turn depend upon the number of customers accounts subject to compensations, number of the market portfolio owners, the value of the investor securities account at every compensation fund member, number of stock traders, number of listed shares and number of transactions. Overall, there is significant positive coefficient/relationship between market capitalisation, retained earnings and reserve. However, there is significant negative coefficient/relationship between Number of listed companies and fund reserves capital.
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Lee, Han Sol, Sangho Ahn, and Juyoung Kang. "A Study on the Quantitative Evaluation of Initial Coin Offering (ICO) Using Unstructured Data." Korean Institute of Smart Media 11, no. 5 (June 30, 2022): 63–74. http://dx.doi.org/10.30693/smj.2022.11.5.63.
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Initial public offering (IPO) has a legal framework for investor protection, and because there are various quantitative evaluation factors, objective analysis is possible, and various studies have been conducted. In addition, crowdfunding also has several devices to prevent indiscriminate funding as the legal system for investor protection. On the other hand, the blockchain-based cryptocurrency white paper (ICO), which has recently been in the spotlight, has ambiguous legal means and standards to protect investors and lacks quantitative evaluation methods to evaluate ICOs objectively. Therefore, this study collects online-published ICO white papers to detect fraud in ICOs, performs ICO fraud predictions based on BERT, a text embedding technique, and compares them with existing Random Forest machine learning techniques, and shows the possibility on fraud detection. Finally, this study is expected to contribute to the study of ICO fraud detection based on quantitative methods by presenting the possibility of using a quantitative approach using unstructured data to identify frauds in ICOs.
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Hoffmann, Bernd, and Karsten Paetzmann. "Investor protection, valuation methods and the German alternative funds industry." Journal of Risk Finance 19, no. 2 (March 19, 2018): 174–89. http://dx.doi.org/10.1108/jrf-06-2017-0101.
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Purpose This paper aims to present the rules for determining the net asset value according to the AIFM Directive which have fundamentally changed regulation of the European alternative funds industry. The paper discusses how these rules must be applied to ensure a reliable and objective valuation and to protect the interests of investors. Design/methodology/approach The paper draws upon experience gained in the market following the implementation of rules on fund valuation in the European Union in 2011 and further in Germany in 2013. The valuation rules for relevant asset classes are presented and discussed in the light of the overarching goal of investor protection. Findings The paper’s findings show that the market participants saw the increased requirements as an opportunity and that they have adapted to the new system. This also applies to fund valuation, even though some people criticise terminology, lack of clarity and the complexity of the new valuation scheme from a practical perspective. Also, due to the increased valuation requirements, a consolidation among market participants can be expected. Originality/value The issues addressed in the paper are currently the subject of debate by regulators and market participants. There are direct implications for future prudential regulation in the asset management industry.
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Harten, Gus Van. "Private authority and transnational governance: the contours of the international system of investor protection." Review of International Political Economy 12, no. 4 (October 2005): 600–623. http://dx.doi.org/10.1080/09692290500240305.
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Arafa, Ahmed, and Dexiang Guo. "Evaluating an International Investment Court for International Investment Disputes Under European Union’s Proposal." Journal of Politics and Law 14, no. 2 (December 29, 2020): 74. http://dx.doi.org/10.5539/jpl.v14n2p74.
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Berserk resentment of the existing framework regulating the international investment protection system and the operating of investment tribunals have direct to a prevalent perception that there is an immediate need for reform. This is especially pronounced having to do with Investor-State dispute settlement (ISDS), where there is an overall perception that it is not anything but an unfair and unbiased arbitration system available to decide disputes between states and foreign investors. Therefore, ISDS has been obtained a reputation for being non-transparent, one-sided, and contradictory in all decisions made by ISDS tribunals. The European Union (EU) has responded to this need, by proposing an international investment court; in this research, an attempt is making to look at this court, according to the European Union’s proposal. Moreover, the research explores the potential in creating this international investment court since a system can be drastically altered. However, some criticism can be addressed by international investment courts. However, specific steps can be taken to improve the international community’s investor-state dispute settlement system by re-valuating all the objectives and goals to solve international investment disputes.
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Ghabri, Yosra. "Legal protection systems, corporate governance and firm performance: a cross-country comparison." Studies in Economics and Finance 39, no. 2 (January 11, 2022): 256–78. http://dx.doi.org/10.1108/sef-09-2021-0404.
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Purpose This paper builds on the “Law and Finance” theory and aims to examine the effect of the legal and institutional environment on the governance–performance relationship in the context of non-US firms. More precisely, it examines whether and how the country’s legal system and the level of investor protection interact with the firm-level corporate governance and affect firm performance. Design/methodology/approach The authors used the “G-Index” governance score developed by the Governance Metrics International rating for a sample of 12,728 firm-year observations from 23 countries over the 2009–2016 period. Findings The results show that the interaction between the country-level institutions and corporate governance system significantly affect the firm performance. In particular, the findings indicate that firms operating in common law countries tend to exhibit a positive valuation effect and higher performance than firms with a comparable corporate governance level operating in civil law countries. More precisely, the authors find that in common law countries, higher investor protection with enhanced corporate governance is associated with better firm performance. However, firms operating in civil law countries with weaker investor protection and a comparable corporate governance level tend to experience a negative valuation effect. Originality/value The findings suggest that the institutional and legal environment is crucial and important in determining the value-maximizing level of good governance practices. Managers and regulators should carefully analyze the cost of these initiatives and should coordinate it with the needs of the country’s legal system. The challenge for the company will be how to adjust its corporate governance strategy according to the needs and demands of the country’s legal system in which the company operates to improve its performance. The regulators should ensure a fit between the specifics of the national legal and institutional environment and corporate governance standards and practices.
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Romero, Eduardo Silva, and Ana Carolina Simões E. Silva. "The Declaration of the 1st Ministerial Meeting of the Latin American States Affected by transnational interests." International Legal Materials 52, no. 6 (December 2013): 1321–26. http://dx.doi.org/10.5305/intelegamate.52.6.1321.
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In the past decade, Latin American States have begun to voice strong criticisms of the existing system for the settlement of disputes between foreign private investors and States through international arbitration based on investment treaties. Since the end of the nineties, said system has undergone an extraordinary development due to the direct right of action granted to foreign investors by investment treaties. Indeed, the great majority of the thousands of investment treaties existing today not only grant substantive protection to investments made by investors of one State party in the territory of the other State party to the treaty, but also contain investor-State dispute settlement provisions allowing investors to initiate arbitration proceedings against host States for an alleged breach of the treaty by the State. The practice of arbitration based on investment treaties has, however, generated many difficulties with respect to both the arbitral tribunals’ application of the substantive protections provided for in the treaties and to the functioning of the arbitration proceedings. In response to those difficulties, Latin American States are seeking to set up regional legal and political cooperation initiatives to create alternatives to the existing system. The Declaration of the 1st Ministerial Meeting of the Latin American States Affected by Transnational Interests (Declaration) adopted in Guayaquil, Ecuador on April 22, 2013 is one recent example of such initiatives.
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Baltag, Crina, and Ylli Dautaj. "Investors, States, and Arbitrators in the Crosshairs of International Investment Law and Environmental Protection." Brill Research Perspectives in International Investment Law and Arbitration 3, no. 1 (June 25, 2020): 1–77. http://dx.doi.org/10.1163/24055778-12340008.
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Abstract The global environmental disruption caused by human activity is firmly entrenched as a scientific fact. The present paper looks at the Investor-State Dispute Settlement (ISDS) system and inquires whether this is the most suitable transnational venue for resolving investment disputes that have an environmental component. This culminates essentially in whether arbitration is a legitimate forum and whether privately appointed arbitrators appropriately can resolve environmental-related disputes. These disputes are bound to increase in frequency because host-States are also partaking in global efforts to respond to environmental challenges. This paper makes several points. First, ISDS is the best equipped venue for addressing investment disputes that have an environmental or natural resources component. Second, the “regulatory chill” and the alleged “investor bias” arguments are unsubstantiated whereas, a balance must be struck between backlash, legitimacy, and workability. Third, ISDS will eventually and inevitably facilitate green-investors, while holding States accountable for green-undertakings, and therefore continue to effectively enforce the rule of law globally. Fourth, arbitrators must adapt to their role of handling disputes at the intersection of international investment law and environmental law; this means that a thorough thick rule of law must effectively be implemented. Fifth, International Investment Agreements (IIA s) should be reconsidered or interpreted in order to accommodate for investors’ obligations, as well as widening the scope of States’ regulatory powers. Finally, ISDS will only remain the best alternative if it sticks to its fundamental elements, in particular by utilizing the regime’s flexibility to allow counterclaims from host States. Only such reform-proposals that preserve and enhance the fundamental elements of international arbitration should be seriously considered.
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Rahmawat, Ema. "IMPLEMENTASI GUGATAN SEDERHANA DALAM LITIGASI DI PASAR MODAL SEBAGAI UPAYA PERLINDUNGAN KONSUMEN (INVESTOR) PASAR MODAL INDONESIA." ADHAPER: Jurnal Hukum Acara Perdata 4, no. 1 (October 10, 2018): 123. http://dx.doi.org/10.36913/jhaper.v4i1.68.
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Capital market sector is one of the financial services which quite dynamic in progress. Capital market transactions have varied characteristics and complexity. In its practices, many factors may motivate legal dispute in capital market in which mostly not settled in litigation way. The investors avoid settle their dispute through litigation mostly because of its formalistic procedure, time consume, and uncertainty of the result because of distrust against court system. The Indonesian Supreme Court has enacted Supreme Court Regulation No. 5 of 2015 concerning Small Claims Procedure as an effort to reform civil justice system which is simplify and expedite. The small claim procedure may offer dispute settlement which simple and quick, however it is limited with the claim value up to Rp200 millions, while mostly capital market transaction has greater value than Rp200 millions. This article will discuss the implementation of the small claims procedure in investor dispute settlement in the capital market. Moreover, this article also elaborates the advantages and disadvantages of small claims procedure in settling investor dispute as a protection to the consumer in capital market.
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Rejas-Muslera, Ricardo, Elena Davara, Alain Abran, and Luigi Buglione. "Intellectual Property Systems in Software." International Journal of Cyber Warfare and Terrorism 3, no. 1 (January 2013): 1–14. http://dx.doi.org/10.4018/ijcwt.2013010101.
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Support for research and development in information technology is considered today as critical by most governments in the industrially advanced countries. Traditionally the way of stimulating research has been to ensure to the investor the appropriability of the returns generated. Such appropriability is typically implemented by means of the Intellectual Property Rigths. Nevertheless the protection of such rights is heterogeneous worldwide. Today two different legal systems for the protection of software coexist: the system of patents and the system of author's copyrights. This paper explains these two main systems of ‘intellectual property’ to provide legal protection to a software, including the licenses to transfer rights on software. The end of the paper presents the most recent trends of the EU government to replace the current European software protection system, including a discussion onf the software patents and the legal initiatives on the subject. In addition, legal issues linked with new ways in software comercialization are presented.
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Liu, Mengkai, and Shujie Zhang. "Research on Environmental Protection Strategy of Urban Construction Subject Based on Evolutionary Game." Sustainability 14, no. 2 (January 17, 2022): 1034. http://dx.doi.org/10.3390/su14021034.
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With the urban renewal and development, the impact of urban construction projects such as old city reconstruction on the surrounding environment has always attracted social attention in the construction process. The strategies of the participants in the project construction in the process of environmental protection need to be further clarified. Taking the government investor and contractor as the construction subject, combined with questionnaire survey and evolutionary game, determines the three-party evolutionary stable game strategy and clarifies the internal mechanism of the evolution trend of the construction subject through simulation. The results show that the investor and contractor have a certain awareness of environmental protection, but they have limited understanding of the relevant policies and regulations issued by the government and believe that the government has little supervision and governance. The optimal evolutionary stability strategy adopted by the construction subject in promoting environmental protection is {Incentive, Effective supervision, Proper protection}, in which the stability conditions are J1 > M1 and T1 > N1. Reducing G1, A, M1, N1 and T1 or increasing J1 and the construction subject’s willingness to take measures can promote the model to stabilize and evolve. The government should establish and improve the incentive system, improve the environmental protection awareness of the construction subject, urge the investor and the contractor to take effective measures to achieve the long-term stability goal of the tripartite subject strategy, and minimize the impact on environmental protection.
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Abdukadyrova, G. T., and B. Bakas Uulu. "ANALYSIS OF THE LEGISLATION OF THE KYRGYZ REPUBLIC REGULATING BANKING ACTIVITIES." Scientific Review Theory and Practice 11, no. 6 (2021): 1612–23. http://dx.doi.org/10.35679/2226-0226-2021-11-6-1612-1623.
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Risk management is high on the agendas of practitioners, academics and the business community and is on the rise as it improves organizational performance and creates value for shareholders. Right risk plays an essential role in risk management in the banking system. First, a higher degree of legal protection for both lenders and borrowers has a positive effect on efficiency in the banking sector. Second, there is a positive relationship between compliance with laws and the performance of financial institutions. Third, better regulation has a positive effect on the commercial banks themselves. The distinction between the legal protections offered to investors and len- ders is important in understanding why companies’ financing structures differ from country to country. The legal and financial literature demonstrates the importance of the link between the legal system, investor protection and capital market development. Currently, the banking system of the Kyrgyz Republic (KR) is one of the main successfully developing sectors of the economy. At the same time, the legal basis of banking is the most volatile and flexible area of the legal system, since it comes from various sources - mainly from the regulatory legal acts of the National Bank of the Kyrgyz Republic, which in turn are based on international banking standards. The introduction of new banking pro- ducts is associated with the adoption of new standards and changes in existing regulatory legal acts. In this regard, the article analyzes the legal framework governing the activities of commercial banks in the republic.
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Glazunova, I. V., and К. I. Chernikova. "Accredited investor: legal status and problems of taxation." Law Enforcement Review 5, no. 3 (October 2, 2021): 167–77. http://dx.doi.org/10.52468/2542-1514.2021.5(3).167-177.
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The subject of the research is the legal norms contained in legislation and other legal acts that regulate the grounds for the emergence and the mechanism for implementing the status of an accredited investor, requirements for individuals, as well as certain aspects of taxation of accredited investors. The experience of legal regulation of income from investment activities, used in foreign legislation, is also analyzed in the context of the topic.The purpose of the article is to confirm the need to revise the requirements for accredited investors, to clarify the legislative provisions of the personal income tax. The reason for this study was legislative changes that caused an ambiguous reaction among the entire legal community in Russia.The methodology. General scientific methods were applied in the framework of a comparative, logical and statistical study and analysis of law enforcement and judicial practice in the field of taxation of an accredited investors.The main results. The following issues were investigated. What was the reason for the introduction of the status of an accredited investor in Russian legislation? It was the need firstly to protect the rights of investors, and secondly to regulate and protect the stock market from unconsciously high-risk transactions. What requirements are specified in the law for obtaining this status, what requirements exist in foreign legislation and why does domestic legislation need to be revised? We can divide the requirements for obtaining the status into three general groups: experience, knowledge and risk. Investor is obliged to meet two criteria by European legislation, when only one criterion by Russian legislation. The problem of taxation of qualified investors was raised in the context of the progressive income tax rate. Taxation of qualified investors needs a thorough legislative review in terms of tax deductions.Conclusions. The ideas for the introduction of the status of an accredited investor, of a progressive personal income tax rate were implemented in Russian legislation from the legislation of foreign countries. Such Russian legal rules needs significant revision. The legislative term "accredited investor" should be introduced in legislation system. It is necessary to clarify the criteria for obtaining a status, as well as to consolidate the necessity for accredited investors to comply with two conditions instead of one. Such an initiative would allow investors themselves to approach investing more consciously and would remove risks from brokers. Tax legislation should be amended in part of tax deductions for persons whose main activity is investment, since the current state of affairs discriminates them against individuals in their rights. The revision of the fixed requirements as well as the clarification of the tax legislation will attract investors (both Russian and foreign) to the Russian stock market, while the economy will receive positive growth, intermediaries-brokers and issuing firms will be provided with protection from unconscious risks.
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Ahmad, Ferhana, Fazal Jawad Seyyed, and Hafsa Ashfaq. "Managing a Shariah-Compliant Capital Protected Fund through Turbulent Times." Asian Journal of Management Cases 17, no. 1_suppl (December 19, 2019): S32—S41. http://dx.doi.org/10.1177/0972820119884397.
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The case examines the performance and challenges faced by the Meezan Capital Protected Fund (MCPF) ensuing from the global financial crisis of 2008. The MCPF launched in May 2008 was the first-ever Shariah-compliant capital protected fund (CPF) offered in Pakistan targeted at conservative investors seeking principal protection along with upside exposure to equities through Shariah-compliant products and securities. The case is based on the scenario, the fund manager, Farhan Lakhani, is facing in early July 2009 following the colossal decline in stock markets crushing investor confidence in the financial system. Unlike equity funds, which had experienced an unprecedented drop in value during this period, MCPF had not only preserved its capital but also managed to generate a small positive return of over 1 per cent in terms of net asset value. Farhan sets out to capitalize on the extraordinary opportunity created by the financial crisis for CPFs to carve out a permanent space among an assortment of funds to mitigate risk for investors with low-risk appetite. He has to carefully review and analyse some of the key strategic choices to enhance the fund’s returns to meet investor expectations as equity markets recover from their historic lows; share his recommendation with the investment committee in two days.
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Gonçalves, Carlos Alberto, Daniel Jardim Pardini, and Anthero de Moraes Meirelles. "Concentration of ownership and control as a governance mechanism in the Brazilian financial system." Corporate Ownership and Control 3, no. 1 (2005): 135–43. http://dx.doi.org/10.22495/cocv3i1c1p2.
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In this paper we analyse how ownership and control work in the main banks operating in Brazil. Our purpose is to identify the mechanisms through which investors try to secure the control of the corporations and the return of the capital invested. Unlike the Anglo-Saxon governance model, where the usual practice is to distribute the share capital among a large number of shareholders, or still, the Japanese or German models, with a massive participation of the banks in the control of the companies, recent research in the Brazilian companies listed in the stock exchange indicate a great volume of voting shares in the hands of a few shareholders. In the present study we seek to reveal whether this corporate governance mechanism also prevails in the Brazilian banking sector. The analysis comprised fifty of the biggest banks operating in Brazil, accounting for over 90% of the total assets of the Brazilian financial system. This study, besides revealing the levels of concentration of control and ownership of the leading Brazilian financial institutions, elucidates the corporate governance models featuring in the literature. It also explains how, in the management of the financial organizations, the investor, when making use of the mechanisms that secure their rights to ownership, guarantees the control and legal protection of his/her investment. The results of the research point to high levels of ownership concentration in the financial institutions in Brazil
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Vecellio Segate, Riccardo. "The Unified Patent Court and the frustrated promise of IP protection: Investors’ claims in (post-)Brexit Britain." Maastricht Journal of European and Comparative Law 27, no. 1 (February 2020): 75–104. http://dx.doi.org/10.1177/1023263x19896917.
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Tensions between the EU’s legal order and the international investment law regime are not exclusive to the Brexit era, but they certainly gained momentum in the aftermath of this referendum. By incautiously declaring that the UK will remain a party to the Unified Patent System regardless of Brexit, the British government arguably shaped (il)legitimate expectations on the part of investors who aimed at exploiting their intellectual property rights in the UK while benefitting from the judicial protection of the forthcoming Unified Patent Court as much as of the European institutions (and market) as a whole. Indeed, not only the System itself will undergo a process of major rebalancing after London’s departure from the EU, but more importantly, the UK will most probably be unable to retain its membership in the System after the actual delivery of Brexit. These complications trigger a wide spectrum of fundamental dilemmas investing the definition and scope of concepts such as unilateral declaration, indirect expropriation, reasonable expectation, estoppel, and public policy exception, under both EU law and international investment law. It is therefore essential to explore these intersections as to anticipate possible scenarios in the event of both domestic court and international arbitral claims lodged by patent investors pre- and post-Brexit, having due regard for competition concerns on the side of the EU, yet referring to recent Canadian case law which opened the gate to investor-State claims in the field of intellectual property.
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Qumba, Mmiselo Freedom. "ASSESSING AFRICAN REGIONAL INVESTMENT INSTRUMENTS AND INVESTOR–STATE DISPUTE SETTLEMENT." International and Comparative Law Quarterly 70, no. 1 (December 11, 2020): 197–232. http://dx.doi.org/10.1017/s0020589320000457.
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AbstractThis article examines the rejection of the International Investor–State dispute (ISDS) system across the African continent and its replacement with a range of domestic and regional alternatives. It assesses the advantages of the two principal options for African countries: retaining the current ISDS system, or using local courts and regional tribunals. To this end, the dispute resolution mechanisms proposed in the Pan-African Investment Code, the 2016 Southern African Development Community Finance and Investment Protocol, the SADC model BIT, the Common Market for Eastern and Southern Africa, Economic Community of West African States and East African Community investment agreements and domestic approaches are critically examined. The argument is then advanced that African countries should not abandon ISDS because replacing it with isolated domestic or regional mechanisms does not reduce any of the risks. In particular, for foreign investors, the risk associated with the adjudication of investment disputes in potentially biased, politically influenced domestic courts may prove too high. African host nations, in turn, risk sending out the wrong message concerning their commitment to the protection of foreign investments. Instead of veering off course, perhaps the time has come for African States to display the political will to remain within the ISDS system and contribute to its reform from within.
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Harryandi, Alexander, Fira Natasha, and Muhammad Akbar. "REGULATING INITIAL COIN OFFERING AMIDST THE DEVELOPMENT OF CRYPTO ASSETS IN INDONESIA." Journal of Central Banking Law and Institutions 1, no. 3 (September 30, 2022): 537–70. http://dx.doi.org/10.21098/jcli.v1i3.41.
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In the era of digital economic development, blockchain and crypto asset innovations have gained wide acceptance and skyrocketing worldwide demand. Behind the emergence of popular crypto assets, the mechanism of an Initial Coin Offering (ICO) is used to issue this new form of currency. An ICO is highly favoured because of its efficiency, minimum underwriting requirements, high profits, and liquidity. Without exception, the hype accompanying ICOs has also influenced the Indonesian public. There remains, however, very minimal protection for investors who participate in ICOs that are being held in Indonesia. There are many disadvantages to an ICO, including high risks for investors, its vulnerability to fraud or crime, and the lack of regulation regarding the mechanism of ICOs. Furthermore, ICOs are very much intertwined with the development of decentralised finance (DeFi), one of the latest crypto-related financial innovations. DeFi likewise poses various risks and threats to the traditional financial system that needs to be monitored from the beginning of the ICO process. Therefore, by using normative research methods based on literature studies, this study aims to comprehensively explain the problems of ICO investor protection in Indonesia and the solutions for overcoming these problems.
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Hippolyte, Antonius R. "icsid’s Neoliberal Approach to Environmental Regulation in Developing Countries." International Community Law Review 19, no. 4-5 (September 26, 2017): 401–42. http://dx.doi.org/10.1163/18719732-12340018.
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Abstract With the intensification of their participation in the foreign investment regime, Latin American States are finding it difficult to implement measures beneficial to protecting their environments due to their obligations to third States. This governance deficit is further compounded by the regime’s neoliberal predisposition in favour of property protection, which has penetrated the system and implicated the system of investment treaty arbitration, the regime’s primary dispute settlement mechanism. The International Centre for Settlement of Investment Disputes (icsid) has also been implicated. This is seen in the momentous diversity in investor-State disputes resolved by various icsid tribunals, which concern attempts by Latin American States to protect their physical environments such as the protection of wildlife or other matters such as the regulation of hazardous waste landfills and ensuring that citizens have access to clean water. Tribunals have approached such disputes primarily from a commercial standpoint, ignoring non-market alternatives such as environmental considerations.
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Erdeljan, Dragana, and Miodrag Grujić. "Application of SELBESTTRA Software for Choosing a Transportation System for Mineral Raw Materials through Special Protection Areas." Applied Mechanics and Materials 683 (October 2014): 92–96. http://dx.doi.org/10.4028/www.scientific.net/amm.683.92.
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The software package SELBESTTRA offers a choice of the best transportation systems of mineral resources with technical, economic and ecological point of view. By entering of parameters of production and the parameters of the proposed transportation route, the software gives us the best solution regarding the protection of environment through which transport is carried out and that for the best variant from techno - economic standpoint. By Changing of input parameters, we can control output data in order to obtain the best solutions in terms of requirements of investor.
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Shkolnyk, Inna, Eugenia Bondarenko, and Myroslav Ostapenko. "Investor compensation fund: an optimal size for countries with developed stock markets and Ukraine." Investment Management and Financial Innovations 14, no. 3 (December 4, 2017): 404–25. http://dx.doi.org/10.21511/imfi.14(3-2).2017.10.
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A compensation fund is an effective mechanism for ensuring the protection of individual investors’ investments on the stock market, which confirms the experience of different countries both with the developed stock market and with the emerging markets (USA, UK, France, Czech Republic, Bulgaria, Ireland, Malta).The formation of a steady interest of individual investors in stock market instruments is stimulated by the implementation of a mechanism for guaranteeing such investments. The stock market of Ukraine faces the problem of attracting additional financing, while individual investors have fairly large amounts of monetary resources that are not involved in the transactions with financial instruments due to the high level of distrust caused by the crisis phenomena on both the global and the national financial markets. The creation of the Ukrainian compensation fund for investment protection involves the development and implementation of a nationwide system for protecting the property interests of investors on the stock market, which requires compensatory payments to the clients of all professional market participants as a result of certain risks.The main condition for effective functioning of the compensation fund of the stock market is determined by its size, which must meet the following conditions of optimality: to ensure the minimum level of the fund’s risks, to take into account the amounts of contributions for the current period, the amount of maintenance costs and to fulfil the requirements for the financial stability of the fund. A modified Markowitz portfolio model was used to build the model.The building of the target function and constraints was carried out by using the Statistica software toolkit. The target function and constraints were presented as polynomials of the third degree and calculated with the help of the multiple nonlinear regression. As a result of calculations, an optimization model was developed for determining the size of the compensation fund taking into account these conditions.The model’s testing was carried out by using the examples of the Deposit Guarantee Fund (DGF) and compensation funds of the United States, Great Britain, France, Czech Republic, Bulgaria, Ireland and Malta. As a result of calculations we determined the size of the compensation fund, which guarantees a minimum level of the fund’s risk taking into account the amount of contributions for the current period, the amount of maintenance costs and requirements to the financial stability of the fund.
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Alenezi, Atif M. "Preventing the Regulatory Chill of International Investment Law and Arbitration." International Law Research 9, no. 1 (October 15, 2020): 85. http://dx.doi.org/10.5539/ilr.v9n1p85.
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International investment law has increasingly come under attack because it does not put host states on par with foreign investors. Foreign investors can evoke broad investment rights and pursue investment arbitration. The threat of substantial arbitral awards can result in host states not enacting policies, regulations, laws or reaching decisions, despite them being needed in order to protect a variety of important public interests. The concern is, therefore, that international investment law, including the investor-state dispute resolution system, causes a regulatory chill. The paper examines how the asymmetric relationship between foreign investors and host states can be remedied, so that trust in international investment law is strengthened and its legitimacy crisis is overcome. One core issue with international investment law is that the customary international minimum standard and its therein subsumed full protection and security, and fair and equitable treatment and compensation principles are inherently vague, thereby contributing to the overprotection of foreign investors. Arbitral cases further highlight how regulatory changes can result in host states incurring liability and thus enable foreign corporations to shift potential costs and risks. International, and national solutions to prevent the regulatory chill of international investment agreements are spelled out.
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Polonskaya, Ksenia. "Metanarratives as a Trap: Critique of Investor–State Arbitration Reform." Journal of International Economic Law 23, no. 4 (December 1, 2020): 949–71. http://dx.doi.org/10.1093/jiel/jgaa038.
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ABSTRACT The ongoing reform of investment arbitration at the United Nations Commission on International Trade Law can have a lasting impact on international investment protection for the decades ahead. This paper examines the current discussions at the United Nations Commission on International Trade Law to explain why the current focus on reforming the procedural aspects of the system is too narrow. As a result of such a narrow approach, the reform risks to miss an opportunity to address the global challenges, e.g. climate change. In advancing its critique of the ongoing reform, the paper adopts the lens of metanarrative by Jean-François Lyotard. By relying on Lyotard, this paper cautions that such values as feasibility and efficiency in conducting the reform should not obscure the need for a critical conversation on the purpose of the reform, which is to ensure the legitimacy of investment arbitration in the future. As this paper argues, a current procedural approach to the reform cannot meaningfully contribute to this objective.
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Wardhani, Ratna, Sidharta Utama, and Hilda Rossieta. "The effect of governance system and degree of convergence to IFRs on the quality of financial reporting: Evidence from Asia." Corporate Ownership and Control 12, no. 4 (2015): 409–23. http://dx.doi.org/10.22495/cocv12i4c3p8.
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This research investigates the effect of governance system and degree of convergence to IFRS on financial reporting quality. With sample of Asian countries, this study concludes that country level and firm level governance systems, both at, and the degree of convergence have positive influence on financial reporting quality.The effect of degree of convergence of local GAAP to IFRS and corporate governance practice to financial reporting quality will be stronger for companies in countries with weak investor protection. Also, we find that in company with weak corporate governance practice, the adoption of international standards will increase the quality of financial reporting.The results indicate that the adoption of international accounting standard become more important in the countries and companies with weak governance system.
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Kim, Jin Woo, and Lucy M. Winnington-Ingram. "Investment Court System Under EU Trade and Investment Agreements: Addressing Criticisms of ISDS and Creating New Challenges." Global Trade and Customs Journal 16, Issue 5 (May 1, 2021): 181–92. http://dx.doi.org/10.54648/gtcj2021020.
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The Investment Court System (‘ICS’) included in the European Union (‘EU’)’s recent investment and trade agreements provides for the creation of a permanent first instance tribunal (‘First Instance Tribunal’) and an appellate tribunal (‘Appeal Tribunal’) drawn from a pre-selected roster of tribunal members. The ICS imposes mandatory transparency of proceedings, as well as a strict code of conduct applicable to all tribunal members. The ICS is expected to address several long-standing criticisms levied against investor-State dispute settlement (‘ISDS’). At the same time, the ICS raises new challenges that must be resolved for its effective operation. These must be addressed first and foremost by the EU and those pioneering trading partners who have so far committed to the ICS; only once resolved will the ICS gain traction with ISDS stakeholders. EU Investment Court System, CETA, EU–Singapore Investment Protection Agreement, EU–Vietnam Investment Protection Agreement, EU–Mexico Global Agreement, enforcement of ICS awards, ICSID Convention, New York Convention, ISDS
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Pusvita, Djulya Eka. "Perlindungan Hukum Perjanjian Kerjasama Antara Investor Dan Perusahaan Bursa Berjangka Komoditi Kelapa Sawit." Indonesian Journal of Criminal Law 2, no. 1 (February 2, 2020): 15–29. http://dx.doi.org/10.31960/ijocl.v2i1.382.
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Penelitian ini bertujuan untuk mengetahui tentang Pelaksanaan Perjanjian Kerjasama Investasi Antara Investor Dengan Perusahaan Bursa Berjangka Komoditi Kelapa sawit. Penelitian ini bersifat deskriptif analitis dengan pendekatan yuridis empiris, Hasil penelitian bahwa pelaksanaan investasi di bursa berjangka atau perusahaan berjangka biasanya dilakukan dalam beberapa tahap yaitu Tahap Pengenalan Perusahaan Berjangka, Tahap Perjanjian Kerjasama Investasi yang terdiri dari masa pemberitahuan tentang perdagangan berjangka oleh pedagang atau wakil perusahaan, masa pemrosesan data nasabah serta terakhir pembuatan kesepakatan tentang investasi dan penandatanganan perjanjian kerjasama investasi dan terkahir adalah pelaksanaan investasi itu sendiri, dimana pengawasan diri nasabah sangat diperlukan agar apa yang diinvestasikan berjalan sesuai dengan yang dinginkan. Dimana dalam peraturan perundang-undangan tentang bursa berjangka menurut analisa penulis, secara umum telah diatur dengan baik tentang perlindungan terhadap nasabah atau investor. Sistem penyelesaian sengketa terhadap nasabah yang mempunyai permasalahan yang berkaitan dengan pelaksanaan investasinya di Perusahaan Berjangka dapat dilakukan melalui, penyelesaian secara Perdata yang mencakup penyelesaian di internal perusahaan pialang berjangka atau penyelesaian melalui lembaga bursa berjangka dengan pemanfaatan dana kompensasi dan yang terakhir penyelesaian di Badan.
This study aims to find out about the Implementation of Investment Cooperation Agreement between Investors and Palm Oil Commodity Futures Exchange Companies. This research is analytical descriptive with an empirical juridical approach. The results of the research show that investment in futures exchanges or futures companies is usually carried out in several stages, namely the Introduction to Futures Companies, Investment Cooperation Agreement Stage, which consists of the period of notification of futures trading by traders or company representatives, the period of processing customer data and finally making an agreement on investment and the signing of the investment cooperation agreement and the last is the implementation of the investment itself, where the customer's self-supervision is very necessary so that what is invested runs in accordance with what is desired. Where in the legislation regarding the futures market according to the author's analysis, in general has been well regulated about the protection of customers or investors. The dispute settlement system for customers who have problems relating to the implementation of their investments in the Futures Company can be done through, a Civil settlement which includes internal settlement in the futures brokerage company or settlement through a futures exchange institution with the use of compensation funds and the last settlement in the Agency.
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Mahadewa, Agung, Made Gitra Aryawan, and Pradita Eko Prasetyo Utomo. "Peramalan Indeks Harga Prulink Rupiah Equity Fund Dengan Metode Exponential Moving Average." Jurnal Sistem Informasi dan Komputer Terapan Indonesia (JSIKTI) 1, no. 2 (December 31, 2018): 87–96. http://dx.doi.org/10.33173/jsikti.18.
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Company that has the added investment products with protection products, from a variety of investment products offered, product PRUlink Rupiah Equity Fund is the most desirable, the product has a high volatility compared to other products. Because it is a customer who is also an investor in this case, often feel disadvantaged by the insurer at the time of withdrawal own funds, it is caused by a lack of knowledge to know the price index next period
Alleged right is the main information needed by investors to determine the next strategy in investing, One is the method of Exponential Moving Average. This method is a method of time series are used to predict the future by using historical data. Assigning weights to involve periods, so the longer the period that we use, the smaller the final value weighting we use
With the abundance of available data, the construction of a system that utilizes past data, in other words, try using a time series model time series of the past to predict, the system will be useful to assist investors in predicting the allegations of the value of equity funds in the future so as to determine the appropriate strategy for investment.
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Lee, Joseph, and Florian L’heureux. "A Regulatory Framework for Cryptocurrency." European Business Law Review 31, Issue 3 (May 1, 2020): 423–46. http://dx.doi.org/10.54648/eulr2020018.
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The paper examines cryptocurrency in the crypto-finance ecosystem and identifies areas in which regulatory intervention is required. Part I focuses on the system and processes of cryptocurrency and identifies the features of this ‘decentralised’ system and the legal and regulatory implications. Part II discusses the perceived benefits and the rise of cryptocurrency to determine whether those benefits fit with regulatory objectives and contribute to the rise of cryptocurrency. Part III discusses the fall of cryptocurrency and some associated factors, particularly a lack of governance. Part IV discusses the need for regulation and governance. Cryptocurrency, blockchain, DLT, tokenization, cryptoasset, exchanges, investor protection
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Kochowska, Ewelina. "Podmiotowość prawnomiędzynarodowa korporacji międzynarodowych wyzwaniem dla systemu ochrony inwestycji zagranicznych." Studia Prawa Publicznego, no. 3(15) (December 4, 2019): 99–129. http://dx.doi.org/10.14746/spp.2016.3.15.4.
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This paper analyzes two issues: the current state of international investment law as to the question of the subjectivity of transnational corporations and whether this question contributes to changes in the system of protection of foreign investments. Transnational corporations have already some relevant attributes of the subjects of international law, although all we can say is that their international legal personality is incomplete, functional, relative and not independent. International legal personality of transnational corporations cannot be presumed and if it is for the purpose of assigning liability for infringements of the rules of jus cogens, this will not prejudge the subjectivity in the fi eld of the use of international investment law. If international legal subjectivity of a transnational corporation has been decided upon, the future of the already existing norms of international law regarding the protection of investments (including diplomatic protection, BIT provisions and multilateral international agreements) is not clear. In this system, the rights and obligations of states and transnational corporations are not balanced as this area of international law favours investors (and thus also transnational corporations). States and local communities are neither entitled to claim damages from the investor when such damages are caused by an investment or if they arise from violations of the vital interests of the local community, nor may they bring counterclaims against the complaint to arbitration tribunals. Common goals for the whole international community, for which the concept of international legal personality of transnational corporations could be developed, have not as yet been precisely articulated. Unlike it is the case of liability for the international law of jus cogens, there are no strong axiological reasons to develop this concept in international investment law.
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Marian, Constantin Viorel, and Mihaela Iacob. "The ArchTerr Project—A GIS-Based Integrated System for Cultural and Archaeological Heritage Protection (Pilot Phase Tested in Romania)." Applied Sciences 12, no. 16 (August 13, 2022): 8123. http://dx.doi.org/10.3390/app12168123.
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This paper presents the results of an experimental-demonstrative research project summarizing three integrated products: an interactive digital map; a reference and record keeping database system; and a set of procedures to enforce the unified application of archaeological heritage protection legislation in Romania. The web-based application constitutes a permanent working tool available to the Romanian Ministry of Culture territorial branch offices, and is freely accessible to specialists and other entities involved in the protection of archaeological heritage, and even to private investors interested in development on land areas having archaeological heritage. The application brings together the organization, systematization, and digitization of all available information about archaeological sites at the national level. This information is otherwise difficult to access because it is structured differently in terms of quantity and quality of data, and stored using different media and formats in several types of non-interconnected institutions. The ArchTerr application significantly reduces the time required to inform, verify, and communicate a decision regarding the presence or absence of archaeological heritage on a particular site. The application ensures the dynamic and automatic real-time bidirectional conversion of geospatial information (Stereo70 and WGS84), and access to unitary and level-structured information, and provides interoperability with other information systems. High-resolution maps allow the non-professional user/investor to access detailed geospatial information about a delimited area, in a timely manner and without the need for field travel, which is a unique feature not found in other European record systems concerning archeological sites. The functionalities of the application developed within the research project, the technical decisions taken, and their implementation method are generally valid. They can be applied in any geographical region because the open source maps used by the technical team cover the world map and the coordinate system used for representation is international. The testing and validation of these functionalities were undertaken using real archaeological data from Romania (data already included in the national heritage representing archaeological sites).
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Wijaya, Rusmin, and Achmad Jaka Santos Adiwijaya. "OPTIMALISASI ASAS KEMANFAATAN HASIL LELANG EKSEKUSI DALAM PERSPEKTIF HUKUM INVESTASI." JURNAL ILMIAH LIVING LAW 13, no. 1 (April 23, 2021): 46. http://dx.doi.org/10.30997/jill.v13i1.4203.
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The auction activity is the sale of goods open to the public with a written and / or verbal price quote that is increasing or decreasing to reach the highest price, which is preceded by an auction announcement. Auction activities can grow the country's economy, this activity can be optimized through investment. The research method used in this research is normative juridical, and the data are analyzed qualitatively using SWOT analysis. The results of this research there are opportunities and challenges where the Mortgage Certificate has an executorial power, the Regulation supports Investors / Buyers to Invest by buying auction assets, the online auction system aims to enable KPKNL to respond quickly, cheaply, efficiently every request of potential buyers / Investors without have to go through a long bureaucracy, buyers in good faith get legal protection. As for obstacles or challenges in optimizing auction results through investment, namely the presence of auction blockage before the auction, interference or intervention from third parties, and the existence of legal remedies in the form of lawsuits, resistance, rebuttal submitted by the Respondent / debtor at the Court for reasons that are too low or Police Report. With regard to investor legal certainty, namely obtaining legal certainty and legal protection for the purchase of auction assets at the KPKNL in accordance with the provisions stipulated in article 14 of Law Number 25 of 2007 concerning Investment.Keywords : Utility Principle; Auction; Invesment Law.
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Fontoura Costa, José Augusto, and Daniel Tavela Luís. "Repúblicas bolivarianas e o ICSID: será que o inimigo não é outro?" Anuario Mexicano de Derecho Internacional 1, no. 16 (January 1, 2016): 189. http://dx.doi.org/10.22201/iij.24487872e.2016.16.525.
Full textAbstract:
Latin American countries, mainly the so called Bolivarian Republics, lead a reaction against the international system of promotion and protection of foreign investments. Their reaction’s focus is the ICSID, which is regarded as a non-democratic and pro-investor institution that issues awards against developing and peripheral states. This article puts that political perception in perspective through the analisys of the lagal structure of the international tandem between ICSID and investment treaties, and the effective arbitration cases against Bolivia, Ecuador and Venezuela, as well as a brief study on regional alternatives and constitutional constraints.