LSN: Law & Economics: Public Law (Topic)最新文献

{"title":"5G and Net Neutrality","authors":"C. S. Yoo, Jesse Lambert","doi":"10.2139/SSRN.3429948","DOIUrl":"https://doi.org/10.2139/SSRN.3429948","url":null,"abstract":"Industry observers have raised the possibility that European network neutrality regulations may obstruct the deployment of 5G. To assess those claims, this Chapter describes the key technologies likely to be incorporated into 5G, including millimeter wave band radios, massive multiple input/multiple output (MIMO), ultra-densification, multiple radio access technologies (multi-RAT), and support for device-to-device (D2D) and machine-to-machine (M2M) connectivity. It then reviews the business models likely to be associated with 5G, including network management through biasing and blanking, an emphasis on business-to-business (B2B) communications, and network function virtualization/network slicing. It then lays out the network neutrality regulations created by the EU in 2015 as well as the nonbinding interpretive guidelines issued by the Body of Body of European Regulators for Electronic Communication (BEREC) in 2016 and assesses how they will be applied to 5G. Network neutrality’s impact on 5G will likely to be determined by the way that the exceptions for reasonable traffic management and specialised services are interpreted. A broad interpretation should accommodate network slicing and other new business models needed to support the deployment of 5G, while a narrow interpretation could restrict innovation and investment.","PeriodicalId":231496,"journal":{"name":"LSN: Law & Economics: Public Law (Topic)","volume":"38 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-11-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130608596","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Whose Earnings and Profits? What Dividend? A Discussion Based on the Dr. Pepper - Keurig Transaction","authors":"J. Sheffield","doi":"10.2139/ssrn.3438049","DOIUrl":"https://doi.org/10.2139/ssrn.3438049","url":null,"abstract":"In July 2018 Dr. Pepper Snapple Group, Inc. (“Dr. Pepper”) acquired all the stock of the Maple Parent Holdings Corp. (better known as “Keurig”) in exchange for Dr. Pepper common stock. The acquisition was unusual in two respects: Dr. Pepper paid its shareholders a pre-merger “special dividend” equal to approximately 87% of the stock’s value; and Dr. Pepper then issued to Keurig’s shareholders Dr. Pepper stock equal to approximately 87% of the combined companies’ stock. It is this combination of events that gives rise to the issues discussed in this article. \u0000 \u0000The first part of the article discusses the interplay of the subchapter C rules regarding earnings and profits (“E&P”), and the timing of dividend payments, with the consolidated return regulations' rules governing tax year ends, reverse acquisitions and the replication of E&P mandated by the regulations' group structure change rules. It argues that (i) the payment date for measuring the E&P of the special dividend should be the date of the merger (rather than the actual date of payment), and (ii) contrary to the existing group structure change rules, the relevant E&P should not include any of Keurig’s E&P. \u0000 \u0000The second part of the article asks whether the special dividend should have been characterized as a dividend in the first place. Because Keurig was the source of the funds for the special dividend, the article argues that the holdings in Waterman Steamship and its progeny could be expanded to recharacterize purported dividends as sales proceeds where the funds for the dividends were contributed by outsiders. It goes on to suggest that a better approach would be to subject dividends, when coupled with a dilutive stock issuance, to the same type of dividend-equivalence tests developed for determining whether a redemption, or more specifically boot in a reorganization, should be treated as a dividend or sales proceeds for tax purposes. This latter approach would avoid many of the factual issues surrounding application of Waterman Steamship’s source-of-funds approach under current law.","PeriodicalId":231496,"journal":{"name":"LSN: Law & Economics: Public Law (Topic)","volume":"58 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-08-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131533299","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Information Technology on the Beat: The Impacts of Body-Worn Camera and Facial Recognition Technology on Public Safety","authors":"Jiyong Park, Min-Seok Pang","doi":"10.2139/ssrn.3426427","DOIUrl":"https://doi.org/10.2139/ssrn.3426427","url":null,"abstract":"Body-worn cameras (BWCs) have transformed the criminal justice system by facilitating information gathering and thereby enhancing public safety. Despite the promise of this technology, there is also much skepticism about its efficacy. This study examines the effect of BWC implementation on the likelihood of a suspect being arrested and on the overall crime rate. In addition, we delve into whether and how the BWC, an information gathering tool, interacts with facial recognition technology, a data analysis tool. To identify the impacts of BWC implementation, we exploit a quasi-experimental setting, in combination with a matching technique, by using a federal grant program for BWC implementation as a natural shock. Using granular crime incident–level data during the period 2010–2016, we find that the adoption of BWCs is positively associated with the probability of apprehension under its jurisdiction, especially on-view (warrantless) arrests based on a probable cause. Furthermore, machine learning–powered facial recognition technology appears to augment the effectiveness of BWC in apprehension. Using police agency–level data, the implementation of BWCs is found to be negatively associated with overall crime rates. This study sheds new light on the societal value of IT and machine learning in the public sector, beyond its business value, providing meaningful implications for policymakers and researchers.","PeriodicalId":231496,"journal":{"name":"LSN: Law & Economics: Public Law (Topic)","volume":"48 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-07-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127287339","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Dutch R&D Incentives: A Triumph for Innovation or a Lobby Success?","authors":"Sigrid Hemels","doi":"10.2139/ssrn.3417232","DOIUrl":"https://doi.org/10.2139/ssrn.3417232","url":null,"abstract":"One of the strategic goals defined in Lisbon in 2000 was to enhance innovation in the EU. The economic rationale for this government interference is a perceived market failure in the market for R&D activities. The idea is that without government interference the amount of R&D activities will be too low because positive spill over effects (externalities) are not included in the market price. Usually, a distinction is made between input tax incentives that reduce costs of R&D on the one hand and output tax incentives that reduce taxable R&D profits. The Netherlands applies an input tax incentive, a Research and Development (R&D) tax credit and an output tax incentive, the innovation box. The aim of these incentives is to make the Netherlands attractive for innovative companies, to attract and keep high quality employment and to promote R&D activities in the Netherlands. The underlying objective is to increase economic growth. Given the rather large impact these tax incentives have on the Dutch budget, the question arises whether these R&D incentives have been effective. That is the topic of this paper. Before going into this analysis, first a short description of the features of both tax incentives are given. Then the findings of evaluations regarding these incentives and the costs of both incentives for the government are discussed. The author also addresses critique on these incentives.","PeriodicalId":231496,"journal":{"name":"LSN: Law & Economics: Public Law (Topic)","volume":"14 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-07-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123802841","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Earnings Stripping under the BEAT","authors":"C. Sanchirico","doi":"10.2139/ssrn.3395416","DOIUrl":"https://doi.org/10.2139/ssrn.3395416","url":null,"abstract":"The Base Erosion and Anti-Abuse Tax is generally regarded as among the most important changes wrought by the Tax Cuts and Jobs Act of 2017, which is itself regarded as among the most important pieces of tax legislation in the last several decades. This paper evaluates the new BEAT provision along with recently proposed regulations. The analysis makes several points about the nature of earnings stripping, the interaction of the BEAT with the new limitation on deducting business interest, the treatment of costs of goods sold under the BEAT, and the BEAT’s approach to depreciable and amortizable property whether purchased, leased or licensed.","PeriodicalId":231496,"journal":{"name":"LSN: Law & Economics: Public Law (Topic)","volume":"36 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-05-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129155702","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Cross-Border Cooperation Between Securities Regulators","authors":"R. Silvers","doi":"10.2139/ssrn.3381887","DOIUrl":"https://doi.org/10.2139/ssrn.3381887","url":null,"abstract":"The events of September 11, 2001, prompted sweeping cross-border coordination efforts for securities regulators around the globe. After 9/11, the International Organization of Securities Commissions (IOSCO) forged a nonbinding arrangement—the Multilateral Memorandum of Understanding Concerning Consultation and Cooperation and the Exchange of Information (MMoU)—that standardized the protocol for information sharing among participating securities regulators. Because regulators from different countries entered the MMoU at different times, their enlistments created a set of staggered shocks. I use these shocks to show that the resulting cross-border cooperation (a) increases cross-border enforcement and (b) reduces the cost of liquidity provision in the capital markets of participating countries. These results support the conclusion that the MMoU helps fill gaps in cross-border regulation that historically exposed investors to information asymmetry, agency costs, and expropriation risks.","PeriodicalId":231496,"journal":{"name":"LSN: Law & Economics: Public Law (Topic)","volume":"45 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-05-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123342874","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The New Frontier for Labor in Trade Agreements","authors":"Á. Santos","doi":"10.2307/j.ctvk8w1rz.25","DOIUrl":"https://doi.org/10.2307/j.ctvk8w1rz.25","url":null,"abstract":"In the spring of 2015, I took my students of international trade law to visit the World Trade Organization (WTO) in Geneva. It was a two-day trip, organized around lectures and discussions with staff from different divisions of the organization, the Advisory Centre of WTO Law and the permanent missions of two countries. None of my students had been there before, and even though I had taught international trade law for several years, it was also my first time visiting the headquarters of the organization. We were excited and curious. The building looked big and majestic. The back side opened to a spacious park overlooking Lake Geneva. It made for a pleasant tour on a cool, sunny morning. The WTO was celebrating its 20th anniversary, and there were banners hanging from the walls in the internal atrium marking the occasion, as well as announcements of events to come.<br><br>In our second session, we were led to a room with wooden panels and a colorful mural that spanned the four walls. It depicted industrial workers — strong men making a car, miners, shipbuilders, men using heavy equipment, but also women, seamstresses, teachers and a few children. In the center a bare-chested man between two goddess-like women was holding a torch. The mural struck me as an ode to work, to achievement and to emancipation. A tale of the human race transforming the world through physical and intellectual labor. The painting, by Dean Cornwell, reminded me of the frescos of Mexican artist Diego Rivera in its depiction of industrial workers, although this one had no reference to exploitation or the confrontation between capital and labor. It was an incredibly optimistic image of work and human progress.<br><br>I was surprised to see a mural of workers in the WTO. The painting seemed not only vintage but also out of place. What was it doing here?","PeriodicalId":231496,"journal":{"name":"LSN: Law & Economics: Public Law (Topic)","volume":"208 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-02-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115903990","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Back to School: What the Chicago School and New Brandeis School Get Right","authors":"G. Werden","doi":"10.2139/SSRN.3247116","DOIUrl":"https://doi.org/10.2139/SSRN.3247116","url":null,"abstract":"The New Brandeis School renews debate on two fundamental antitrust policy questions: 1) what source of wisdom or set of values should inform antitrust rules; and 2) what criterion should govern antitrust case adjudication. In our view, the Chicago School’s answer to the first question was right; economics, rather than populist politics, should guide the formulation of antitrust rules. On the second question, we agree with the New Brandeis School that US antitrust is too focused on bottom-line indicators of market performance; the result has been to make antitrust both more complex and less effective in protecting competition.","PeriodicalId":231496,"journal":{"name":"LSN: Law & Economics: Public Law (Topic)","volume":"112 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-09-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116074612","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Congestion and Delay in the Final Court of Justice – An Economic Interpretation","authors":"S. Kar, Indrajit Mallick","doi":"10.2139/ssrn.3579007","DOIUrl":"https://doi.org/10.2139/ssrn.3579007","url":null,"abstract":"A common feature in different courts of appeal, including the Supreme Courts of different countries is inordinate delay in administration of justice. Increasing caseload per judge is often treated as the culprit and hiring more judges is a popular corrective device. Particularly, for the Supreme Court there exists an ingrained conflict regarding the time and quality-efficient administration of justice, as the judges themselves are responsible for reviewing and selecting cases for further appeal. Given this choice, the trade off between number of cases filed and quality of judgment, with constrained optimization by potential litigants and social planner has not been explored so far. We argue that contrary to popular expectations, an increase in the number of judges may raise caseload per judge. Similarly, a social planner‟s decision to deepen the reach of justice may inspire more litigation from the subjects and therefore is self-defeating in practice.","PeriodicalId":231496,"journal":{"name":"LSN: Law & Economics: Public Law (Topic)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122665166","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Consumer Responses to Corporate Tax Planning","authors":"H. S. Asay, Jeffrey L. Hoopes, Jacob R. Thornock, Jaron H. Wilde","doi":"10.2139/ssrn.3224670","DOIUrl":"https://doi.org/10.2139/ssrn.3224670","url":null,"abstract":"Prior research examines practitioner, investor, and executive perceptions of corporate tax planning. However, little is known about how the typical U.S. consumer views corporate tax planning. We examine consumers’ perceptions of corporate tax planning using both survey and experimental methods. First, we survey U.S. consumers and find that while most express negative preferences for tax planning, they rank it at the bottom of purchase decision factors. Few consumers recall ever seeing a negative media article about taxes. Thus, while consumers state a preference against corporate tax planning, that preference is not particularly strong. However, for the minority of consumers who have read negative articles about a firm’s tax planning, a significant portion claim to have changed their purchasing behavior accordingly. Second, we use an experiment to investigate the consumer effects of tax planning, randomly treating consumers with exposure to news about tax planning and imposing real economic consequences on the participants. We find that consumers exposed to negative tax information about a firm are significantly less likely to prefer receiving a gift card from that firm, suggesting that there is an effect of tax planning on consumer preferences even in the presence of a real economic consequence.","PeriodicalId":231496,"journal":{"name":"LSN: Law & Economics: Public Law (Topic)","volume":"75 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-07-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116415923","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}