Suchergebnisse

Testamentary succession rules in the Russian Federation have been developing intensively since the collapse of the Soviet Union. The article analyzes specific aspects of the closed will in Russian civil law. It discusses advantages and drawbacks of the closed will. In addition to that, the paper focuses on the will drafting and attestation procedures. The research provides ways to improve and enhance Russian legislation governing the closed will.

Testamentary succession rules in the Russian Federation have been developing intensively since the collapse of the Soviet Union. The article analyzes specific aspects of the closed will in Russian civil law. It discusses advantages and drawbacks of the closed will. In addition to that, the paper focuses on the will drafting and attestation procedures. The research provides ways to improve and enhance Russian legislation governing the closed will.

Apart from an extensive survey of the literature on the economics of corporate bankruptcy law, this thesis contains three own contributions: First, a model is presented where a firm's manager acquires some private information about whether a firm should be liquidated or stay in business. Providing the manager with suitable incentives to act in the investors' interest may be socially efficient, but not individually rational for the investors themselves. A second-best arrangement will be specified, and it will be shown how investors can be induced to implement it by means of an optimal bankruptcy code in the case where only standard financial contracts are available. The theory explains why bankruptcy law should, in some states of nature, let shareholders and senior creditors decide jointly, and provides a rationale for the existence of junior debt, which never enjoys any power of decision. Secondly, the topic of private debt workouts is taken up. It has often been argued that the coercive character of bond exchange offers leads to an inefficient liquidation policy, and that legal regulations are called for. In contrast to this claim, it will be argued here that such bondholder coercion will be anticipated when contracts are written out, so that the second-best arrangement will be obtained under any of the legal settings considered in the literature. Finally, there is a theoretical analysis and an empirical study of the incentives associated with Indian bankruptcy law, the key feature of which is that poorly performing firms are declared 'sick' and thereafter are run under governmental control. It is argued that governors have strong incentives to induce firms to choose a higher leverage by providing subsidized loans, because higher leverage increases the probability of financial distress, in which case the governor can implement his own conceptions of running the firm more easily. The model is applied to a data-set of some 2500 Indian manufacturing firms, and the basic model implications are confirmed.

Apart from an extensive survey of the literature on the economics of corporate bankruptcy law, this thesis contains three own contributions: First, a model is presented where a firm's manager acquires some private information about whether a firm should be liquidated or stay in business. Providing the manager with suitable incentives to act in the investors' interest may be socially efficient, but not individually rational for the investors themselves. A second-best arrangement will be specified, and it will be shown how investors can be induced to implement it by means of an optimal bankruptcy code in the case where only standard financial contracts are available. The theory explains why bankruptcy law should, in some states of nature, let shareholders and senior creditors decide jointly, and provides a rationale for the existence of junior debt, which never enjoys any power of decision. Secondly, the topic of private debt workouts is taken up. It has often been argued that the coercive character of bond exchange offers leads to an inefficient liquidation policy, and that legal regulations are called for. In contrast to this claim, it will be argued here that such bondholder coercion will be anticipated when contracts are written out, so that the second-best arrangement will be obtained under any of the legal settings considered in the literature. Finally, there is a theoretical analysis and an empirical study of the incentives associated with Indian bankruptcy law, the key feature of which is that poorly performing firms are declared 'sick' and thereafter are run under governmental control. It is argued that governors have strong incentives to induce firms to choose a higher leverage by providing subsidized loans, because higher leverage increases the probability of financial distress, in which case the governor can implement his own conceptions of running the firm more easily. The model is applied to a data-set of some 2500 Indian manufacturing firms, and the basic model implications are confirmed.

'Entrepreneurship provides a deep insight into the complex world of international new ventures in different cultural and institutional settings. Having conducted most of my research and teaching in this field, I am impressed by the quality and depth of this book. It is not only interesting from an academic perspective but also from a practitioner perspective as well. This book explains and synthesizes the most relevant topics that every person involved in international business and entrepreneurship should take into consideration.' - Christian Keen, VP Global Commerce Strategy, Stratekey Canal. 'This book is an important addition to the literature on International Entrepreneurship (IE). Edited by the founder of the McGill Conference series on IE and the hosts of the 14th annual conference, this collection challenges readers to push the boundaries of this emerging field and explore the implications of leadership, emerging economies, gender and family ownership for the internationalization of new ventures.' - Rod B. McNaughton, University of Auckland, New Zealand. The young field of international entrepreneurship is rapidly expanding in scope and complexity, as increasingly more companies across the world compete to gain a larger global market share and attract consumers both at home and abroad. This book, the fifth volume in the McGill International Entrepreneurship series, brings together 29 scholars and practitioners to explore the contemporary issues, evolving relations and dynamic forces that are shaping the new emerging entrepreneurial system in international markets. It examines entrepreneurial efforts and relations in many firms embedded in and constrained by different national and corporate cultures of their own and offers expert recommendations for further research, better managerial practice and more effective public policy approaches. The editors and contributors to this volume show how conventional theories of entrepreneurship and business do not fully address the challenges inherent in achieving and sustaining global competitiveness. Over the course of 11 research-based chapters, they detail rich frameworks and fresh solutions for navigating the complex and quickly evolving global business environment, providing insight into a number of current international entrepreneurship issues. These include high-growth and rapid internationalization, managerial leadership, born globals, the impact of networks, inter-organizational ties and knowledge intens ...

In article 1991 of French civil law, the laws such as contract and other sources of commitment are one of the commitment sources. Some of the French lawyers consider law as the source of all commitments and believe that: other sources get their credit from law, but the law is committed to two types of sources: direct and indirect and also legal commitment is in two cases: negative commitments and positive commitments. The legislator in negative commitment tries more, due to being comfortable and less annoying. In this article observing the law source, the examples and the effects in Iran law are focused

(Re)constructing the Self in Women's Autofiction: The Case of Sașa Zare's Dezrădăcinare. This paper aims to examine the (re)construction of the female subject in contemporary autobiographical fiction by looking into Sașa Zare's debut novel, Dezrădăcinare.

Ein wachsendes soziologisches Interesse richtet sich auf die Risikowahrnehmung im Lebensalltag. Der vorliegende Beitrag befasst sich mit den methodologischen Herausforderungen solcher Forschung. In einer Studie wurde mit Hilfe von erzählend-biographischen Methoden die individuelle Entscheidungsfindung in Erwerbsverläufen erfragt. Um die Antworten bezüglich der Weltsichten und Risikokonzepte der Interviewten nicht systematisch zu verzerren, wurden Risiken nicht explizit angesprochen. Die erzählten Geschichten können dementsprechend als Beispiele für alltägliche Entscheidungsfindung und Risikowahrnehmung verstanden werden. Es zeigte sich, dass die Interviewten ihre Berufsverläufe nicht in Risikobegriffen darstellten, sondern sich von ihrer Rolle als Handelnde zu distanzieren suchten. Daraus ergibt sich als neue Herausforderung für die empirische Erforschung alltäglicher Risiken zu entwirren, wie sich Individuen als Handelnde in der Risikogesellschaft identifizieren, darstellen und wahrnehmen.