Suchergebnisse

Whereas most U.S. corporations are widely held, the predominant form of ownership in East Asia is control by a family, which often supplies a top manager. These features of "crony capitalism" are actually more pronounced in Western Europe. In both regions, the salient agency problem is expropriation of outside shareholders by controlling shareholders. Dividends provide evidence on this. Group-affiliated corporations in Europe pay higher dividends than in Asia, dampening insider expropriation. Dividend rates are higher in Europe, but lower in Asia, when there are multiple large shareholders, suggesting that they dampen expropriation in Europe, but exacerbate it in Asia. (JEL G34, G35)

Expropriation is an institute of contemporary legislation whose applicability, or implementation, is discussed. Expropriation is a fundamental public interference in the property rights of other entities, but is not characterized as priority. Expropriation follows the achievement of a certain aim, otherwise it would not be possible and at the very least or rationally justifiable. It is permitted in the public interest under the rule of law, and for compensation. The public interest is an indefinite legal term that is proven in expropriation proceedings. The basic legislation is contained in Act No. 184/2006 Coll., on abolition or limitation of ownership rights related to land or buildings (hereinafter the "Expropriation Act"), as amended, but relating laws are what are key in terms of the environment. The paper discusses selected aspects of currently valid legislation on expropriation, the prepared amendment relating to recodification of private law, and attention mainly focuses on current case law (the decision of the Supreme Administrative Court of 07 April 2016, case no. 9 As 89/2015-28, dealing with the question of expanding the subject of expropriation to land that the expropriator does not need to achieve the purpose of expropriation.). This is viewed through the criterion of the expropriation purpose – environmental protection in the broadest sense. ; Expropriation is an institute of contemporary legislation whose applicability, or implementation, is discussed. Expropriation is a fundamental public interference in the property rights of other entities, but is not characterized as priority. Expropriation follows the achievement of a certain aim, otherwise it would not be possible and at the very least or rationally justifiable. It is permitted in the public interest under the rule of law, and for compensation. The public interest is an indefinite legal term that is proven in expropriation proceedings. The basic legislation is contained in Act No. 184/2006 Coll., on abolition or limitation of ownership rights related to land or buildings (hereinafter the "Expropriation Act"), as amended, but relating laws are what are key in terms of the environment. The paper discusses selected aspects of currently valid legislation on expropriation, the prepared amendment relating to recodification of private law, and attention mainly focuses on current case law (the decision of the Supreme Administrative Court of 07 April 2016, case no. 9 As 89/2015-28, dealing with the question of expanding the subject of expropriation to land that the expropriator does not need to achieve the purpose of expropriation.). This is viewed through the criterion of the expropriation purpose – environmental protection in the broadest sense.