Suchergebnisse

Compared with the case of central bank independence, independence for financial sector supervisors remains more controversial. This paper analyzes changes in independence and accountability arrangements in a set of 32 countries that overhauled their legal and/or institutional frameworks for supervision in recent years. Despite improvements, there is strong evidence that the endorsement of independence remains half-hearted, which shows itself through either overcompensation on the accountability side, or resort to political control mechanisms. The latter could potentially undermine the agency's

The 2008 financial crisis raised puzzles important for understanding how the capital market prices common stocks and in turn, for the intersection between law and finance. During the crisis, there was a dramatic five-fold spike, across all industries, in "idio­syncratic risk"—the volatility of individual-firm share prices after adjustment for movements in the market as a whole. This phenomenon is not limited to the most recent financial crisis. This Article uses an empirical review to show that a dramatic spike in idiosyncratic risk has occurred with every major downturn from the 1920s through the recent financial crisis. It canvasses three possible explanations for this phenomenon. Thereafter, this Article explores the implications of these crisis-induced volatility spikes for certain legal issues that depend analytically on valuation methodology and hence are affected by volatility: using event studies to determine materiality and loss causation in fraud-on-the-market securities litigation, determining materiality in cases involving claims of both insider trading and misstatements or omissions in registered public offerings, and deter­mining the extent of deference given to a corporate board that rejects an acquisition offer at a premium above the pre-offer market price. This analysis shows that the conventional use of event studies during periods of economic-crisis-induced volatility spikes results in understating the number of occasions when a corporate misstatement can be shown to have had a meaningful impact on a firm's stock price. Relatedly, the analysis suggests that during crisis times, insiders have substantially more opportunities to profit from trading on the nonpublic information that they possess and issuers conducting offerings have more opportunities to sell securities at an inflated price. Analysis shows that trying to cure this problem by lowering the standard of what is considered statistically significant is as likely to be socially harmful as socially beneficial. These conclusions counsel that the best response to the reduced effectiveness of private litigation as a deterrent to securities law violations during crisis times is to provide additional resources to SEC enforcement. Lastly, with respect to Delaware courts' recognition of "substantive coercion" as a justification for target-corporation deploy­ment of takeover defenses—arguably a dubious justification in normal times—crisis-induced idiosyncratic-risk spikes provide an unusually plausible claim that target shareholders may indeed make a mistake in tendering into a hostile offer. Analysis of the timing of the spikes in recent cases, however, shows that the claim is tenuous even in these circumstances.

1: Introduction to Death, Dying and the Dead in Media and Culture -- 2: "To Show the Problem Inside and Out": Representations of Mental Illness and Suicide in Eric Steel's The Bridge -- 3: Twenty-First Century Digital Snuff: The Circulation of Images and Videos of Real Death Online -- 4: Streaming death: terrorist violence and the digital afterlife of difficult death -- 5: 'Death. Carnage. Chaos': mortality and mountaineering on-screen, and on the roof of the world -- 6: Bodies on the Battlefield: Death and Combat in Band of Brothers -- 7: Melissa Merchant and Simon Order - Representing Fatal Violence in AMC's The Walking Dead: The Role of Legitimation, Graphicness and Explicitness -- 8: Are Normative Death Narratives Celebrated, Reinforced, or Disrupted in Popular Media? A Critical Discourse Analysis of Coco and Soul -- 9: Hashtag feminism: challenging rape and femicide in South Africa -- 10: A Weaponized Landscape: Hart Island's Geography of Denial -- 11: Shakespeare: Difficult Dead Celebrity Child -- 12: There is nothing like a dead man to demand existence' (Antonin Artaud) -- 13: Difficult Deaths and Awkward Agendas: How Mainstream News Media Negotiate Coverage of Politically Dissonant Victims -- 14: Dissected, torn, and exposed: the death and remains of the Jack the Ripper victims in the Illustrated Police News -- 15: Photographing Death to Save Photojournalism Mafia Homicides in Letizia Battaglia's "Archive of Blood" -- 16: Economies of Mortalities: Ageism and Disposability During the Covid-19 Pandemic -- 17: Reflecting grief during a pandemic: online UK newspapers' reportage and researchers' experiences -- 18: Conclusion to Difficult Death, Dying and the Dead in Media and Culture. .

The article reveals the social and philosophical views of M.A. Bakunin on the genesis, essence and evolution of the state. At the same time, attention is focused on his interpretation of state power, which is a lack of justice and freedom for the people. The philosopher, in substantiating his point of view, gives a detailed analysis of the philosophical conceptual provisions on the state. M.A. Bakunin, being an anarcho-revolutionary in his philosophical views, substantiates the limited point of view on the issue of the state and its social role, the positions of the representatives of German social democracy and the views of supporters of Marxist philosophy. The article reveals the socio-philosophical positions of the Russian thinker on the issue of essential components that substantiate the need for the evolution of the state and its departure from the historical arena. At the same time, the main regulations that characterize the prospects for the development of the state and its withering away are revealed. Only a social revolution, according to M.A. Bakunin, can lead to the destruction of the state as an organ of violence, and bring the people freedom, equality and the use of social wealth. Purpose of the research: to reveal the social and philosophical positions of M.A. Bakunin on the genesis of the state, its essence and evolution. Conclusions: The state, according to the views of M.A. Bakunin, is in any form of violence against the people, and therefore it must be destroyed through a social revolution. The future structure of society, as an ideal, should be based on justice and freedom of the people, their self-organization.

As part of Canada's effort to meet its commitment to the 2015 Paris climate accord, the provinces must establish their own carbon pricing policies or the federal government will impose a policy on them. When choosing among the various policies, provincial governments should first determine how much a particular policy will negatively affect economic competitiveness in their jurisdictions. When the negative impacts are judged to be low, a carbon tax on each tonne of greenhouse gas emissions (GHG) is the preferred choice. A cap-and-trade policy allocating tradable permits under a market price, or a hybrid combination of carbon tax and cap-and-trade, is best when the negative impacts could be high. These three policies can all satisfactorily achieve emissions reductions. However, other variables must be taken into consideration, including the provision of price certainty, how strongly each policy promotes innovative research into cleaner technologies, the complexity and costs of set-up, the policy's salience, or visibility to consumers, and the amount of revenue it can raise. A carbon tax has a major advantage over cap-and-trade and a hybrid version because it allows for carbon price certainty, is less costly to administer and is a substantial source of revenue. However, a cap-and-trade policy offers its own advantages in that emissions allowances can be allocated so as to minimize the policy's negative effects on competitiveness and prevent emissions leakage. The latter is the term used when companies leave one jurisdiction to operate in another jurisdiction that has either fewer or no rules around carbon pricing. A hybrid policy, also known as output-based pricing, allows for some permits to be allocated freely based on a facility's or industrial sector's emissions and output. It also offers more carbon price certainty than a pure cap-and-trade system. Research shows that a hybrid policy almost completely reduces the impacts on competitiveness and emissions leakage. And while a carbon tax is more visible to the public, the advantages of higher visibility are debatable. Such a policy may be favourable because a lower price is required to achieve the same GHG reductions, but it might also be unfavourable because politically it is less palatable. British Columbia has a carbon tax, while Quebec uses a cap-and-trade system. Alberta has a hybrid policy that covers large industrial emitters and a carbon tax for smaller ones. Other provinces remain without a carbon pricing regime, while Ontario's newly elected Progressive Conservative government is set to dismantle the province's cap-and-trade policy. Those provinces that wait for the federal government to impose carbon pricing on them can expect to get a hybrid policy much like Alberta's. For provincial governments wishing to establish their own policies, choosing one that is the right fit involves weighing the advantages and disadvantages of each. Ultimately, a given jurisdiction should examine its own economic and emissions profile in order to make the best choice for achieving the combined goal of reducing GHGs without negatively impinging on industry's competitiveness.

The state of minorities before the Truman years -- A new man in the White House -- Tension and strife -- Where they stood -- A year of relaxation, or preparation -- OF promises made and delayed -- Vindication of a commitment -- A new day dawns? -- Deadlock in Congress -- Of patronage, housing, and law -- Integrating the military -- Equal employment opportunity -- Defeat in Congress -- A final stand -- Assessment.

From 1965, the USSR sought to take advantage of the French policy of détente launched by General de Gaulle towards the Warsaw Pact's countries to set the borders in Europe and to obtain Western acknowledgment of the Soviet control over Eastern Europe. But France was in favour of a détente which would lead to overcome bipolarity created by the Cold War ; it did want to confirm the European political and territorial status quo. From 1969, France gradually decided to use the conference project to point out its vision of Europe: the Conference on Security and Cooperation in Europe had to promote the coming together of peoples of the whole continent and to encourage each nation to speak with its own particular voice, outside military alliances.When thirty-three European countries, the United States and Canada met, from 1972 to 1975, in order to negociate the Final Act's content, the French and their European Community partners tried to make the conference a multilateral continuation of the Gaullist policy of détente.From this perspective, they first made sure that borders could be changed by peaceful means: it was crucial to reserve the German people's right to be reunified. They also acted to make the CSCE facilitate cultural cooperation and movement of persons between East and West. According to President Georges Pompidou, the main goals were to transmit the « freedom virus » to the communist countries and to drive a wedge into the bipolar system. ; A partir de 1965, l'URSS cherche à profiter de la politique de « détente, entente, coopération » lancée par le général de Gaulle auprès des pays du pacte de Varsovie pour obtenir, via une conférence sur la sécurité européenne, le gel de l'ensemble des frontières du continent et la reconnaissance de la mainmise soviétique sur l'Europe de l'Est. Sauf que la France, partisane au contraire d'une détente censée aboutir au dépassement de l'ordre bipolaire issu de la guerre froide, n'entend pas entériner le statu quo politique et territorial européen. Dès 1969, la France ...

Intro -- Endorsements -- Half Title -- Title Page -- Copyright Page -- Dedication -- Contents -- Acknowledgements -- Glossary of Terms -- List of Acronyms and Abbreviations -- 1. Introduction -- Humanitarian Protection as a Field of Study -- Theory and Definitions -- Humanitarianism and Humanitarian Protection -- From 'International Security' to 'Human Security' -- From 'Direct Violence' to 'Structural Violence' -- International Relations, Constructivism, and the Study of Norms -- From 'International Society' to 'Global Society' -- The Epistemic Community: Drawing on the Work of Policymakers and Practitioners -- The Structure of the Book -- Notes -- Part I: Origins -- 2. Human Rights and the Cold War -- The United Nations and Human Rights -- The Cold War and Principles of Neutrality, Impartiality, and Humanity -- The Cold War and the Development of Peacekeeping -- The Cold War and Humanitarian Relief -- Notes -- 3. Rethinking Protection after the Cold War -- An Agenda for Peace and the New Peacekeeping -- The United Nations and the Rwandan Genocide -- Francis Deng and 'Sovereignty as Responsibility' -- NATO's Intervention in Kosovo -- The Articulation of the 'Responsibility to Protect' -- Kofi Annan and Two Concepts of Sovereignty -- The ICISS Report: The Responsibility to Protect -- The World Summit and the Responsibility to Protect -- Ban Ki-Moon's Cyril Foster Lecture on Human Protection -- The Responsibility to Protect and the Protection of Refugees and IDPs -- The Arab Spring: Collective Responses to Libya and Syria -- Notes -- Part II: Actors -- 4. States and Regional Organisations -- Norms Advocacy and States -- Reasons for Norm Contestation by States -- Norms Advocacy and Regional Organisations -- Regional Protection Regimes and International Institutions -- Notes -- 5. The United Nations.

In his world broadcast on September 27, 1938, immediately after his conversations at Godesberg with Chancellor Hitler, Prime Minister Chamberlain pointed out that he had gained the Czech Government's consent to the Berchtesgaden proposals which "gave the substance of what Herr Hitler wanted," and that he "was taken completely by surprise" when at Godesberg he "found that he [Hitler] insisted that the territory should be handed over to him immediately, and immediately occupied by German troops without previous arrangement for safeguarding the people within the territory who were not Germans or did not want to join the German Reich." This attitude he found "unreasonable" but added that in spite of sympathy "with a small nation confronted by a big and powerful neighbor we can not in all circumstances undertake to involve the whole British Empire in war simply on her account. If we have to fight it must be on a larger issue than that. I am myself a man of peace . . . but if I were convinced that any nation had made up its mind to dominate the world by fear of its force, I should feel that it must be resisted."