ERN: Rules of the Game (Topic)最新文献

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When Titles Transfer in a Present Sale of Future Rights to Payment – From Perspective of New York law 当所有权在当前出售的未来付款权中转移时——从纽约法的视角
ERN: Rules of the Game (Topic) Pub Date : 2020-04-05 DOI: 10.2139/ssrn.3657436
Yudong Yu
{"title":"When Titles Transfer in a Present Sale of Future Rights to Payment – From Perspective of New York law","authors":"Yudong Yu","doi":"10.2139/ssrn.3657436","DOIUrl":"https://doi.org/10.2139/ssrn.3657436","url":null,"abstract":"This paper explores when titles to the rights to payment transfer from a seller to a buyer in a true sale of future incomes. The paper finds that under New York Law, rights do not transfer from the seller to the buyer at the formation of the sale contract; nor do rights skip seller and jump to the buyer when those rights are created. The finding implies that A present sale of future incomes may not be an effective means to create a bankruptcy remoteness effect.","PeriodicalId":314810,"journal":{"name":"ERN: Rules of the Game (Topic)","volume":"166 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-04-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124642949","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}
引用次数: 0
Love Conditionally: The Ownership Structure and Bribery Behavior of Chinese Firms 有条件的爱:股权结构与中国企业贿赂行为
ERN: Rules of the Game (Topic) Pub Date : 2019-05-01 DOI: 10.1111/rode.12584
Ruohan Wu, Zhengyang Jiang, Huimin Shi
{"title":"Love Conditionally: The Ownership Structure and Bribery Behavior of Chinese Firms","authors":"Ruohan Wu, Zhengyang Jiang, Huimin Shi","doi":"10.1111/rode.12584","DOIUrl":"https://doi.org/10.1111/rode.12584","url":null,"abstract":"This paper studies empirically the determinants of firm bribery activities from the perspective of ownership structure. Using data on Chinese firms obtained from the Enterprise Surveys conducted by the World Bank, we compare the bribery activities of firms with various forms of ownership. We find that compared with private and foreign firms, state‐owned firms in China are not only more likely to receive bribe requests from government officials, but are also more likely to pay bribes. Meanwhile, firms are more likely to bribe if they are extorted, or if they expect to reduce infrastructural obstacles to their business operations. Other factors such as manager experience and external audits also exhibit significant influence upon firms’ bribery decisions.","PeriodicalId":314810,"journal":{"name":"ERN: Rules of the Game (Topic)","volume":"96 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132489521","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}
引用次数: 2
What’s Wrong with Chapter 11? 第11章有什么问题?
ERN: Rules of the Game (Topic) Pub Date : 2019-03-13 DOI: 10.2139/SSRN.3352137
C. J. Tabb
{"title":"What’s Wrong with Chapter 11?","authors":"C. J. Tabb","doi":"10.2139/SSRN.3352137","DOIUrl":"https://doi.org/10.2139/SSRN.3352137","url":null,"abstract":"The time has come to cast a discerning eye at chapter 11 and examine how it is currently broken and what fixes can be made to improve it. This Article first explains what the congressional reformers of the 1970s dreamed that chapter 11 could and should be, and identifies five core normative goals that chapter 11 should promote. I then examine how chapter 11 has failed, and has become a nightmare rather than a dream, and discuss five critical ways in which chapter 11 in practice fails to achieve the normative ideals previously identified. I conclude by identifying and explaining seven possible reforms that, if implemented, could help transform chapter 11 from the current nightmare to the normative ideal dream: (1) making sales once against just sales again; (2) resurrecting the “perishability” or “emergency” test for sales; (3) limiting secured creditors to foreclosure value; (4) opening up DIP financing terms and eliminating draconian terms; (5) eliminating all preferential priority-altering payments; (6) curtailing venue choice and forum shopping; and (7) eradicating judicial legislation.","PeriodicalId":314810,"journal":{"name":"ERN: Rules of the Game (Topic)","volume":"4 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-03-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123999356","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}
引用次数: 0
Lessons from the Past: The Venetian Republic’s Tailoring of Patent Protection to the Characteristics of the Invention 过去的教训:威尼斯共和国根据发明的特点调整专利保护
ERN: Rules of the Game (Topic) Pub Date : 2019-02-09 DOI: 10.2139/ssrn.3331687
S. Fusco
{"title":"Lessons from the Past: The Venetian Republic’s Tailoring of Patent Protection to the Characteristics of the Invention","authors":"S. Fusco","doi":"10.2139/ssrn.3331687","DOIUrl":"https://doi.org/10.2139/ssrn.3331687","url":null,"abstract":"In recent years, much discussion in patent law has revolved around granting tailored protection to provide better incentives to inventors in different industries and to increase patent quality. For example, the deliberations that led to the enactment of the Leahy-Smith America Invents Act (AIA) focused specifically on the role of the patent system in different industries as well as on modifying remedies and patent terms to reflect the needs of distinct technology sectors. Whereas in the literature there seems to be substantial agreement on the fact that tailored protection would be beneficial for the effectiveness of the patent system, there is no consensus with respect to which entity should be vested with the authority to produce tailored patent policies, standards and rules based on the needs of the various industries. Currently, the United States Court of Appeals for the Federal Circuit and the United States Patent and Trademark Office (USPTO) are the two principal candidates for this role. Some of this debate is connected to the broader issue in legal academia of granting general regulatory authority to administrative agencies with highly specialized knowledge. Contrary to other administrative agencies, such as the United States Environmental Protection Agency (EPA), the Securities and Exchange Commission (SEC) or the Occupational Safety and Health Administration (OSHA), Congress has never granted such authority to the USPTO; scholars have criticized this inconsistency. The strongest argument they have used to question the current status of the USPTO refers to the fact that much could be gained from the information that this agency has accumulated through years of experience working with inventors in different industries, particularly with respect to tailoring patent protection. Historically, the Venetian Republic provided tailored patent protection based on the characteristics of the invention. In that context, the entity entrusted with the power to tailor the protection granted in each case was the Senate, the issuing authority. Moreover, although the Venetian Republic enacted what is widely recognized as the first Patent Act in the world in 1474, the Venetian Senate continued its practice of granting tailored patents until the end of the Republic in 1797. In fact, as explained by Luigi Sordelli in 1974, following the enactment of the 1474 Act, inventors could obtain protection in Venice in two ways: through the newly created statutory system or through the much older customary system of senatorial grants. Conclusive evidence that Sordelli’s view was correct is provided in a separate paper that I co-authored with Ted Sichelman and Toni Veneri, in which we shed important new light on the true origin of patent law. In this article, I focus instead on tailoring patent protection. Specifically, I use original documents from the Venetian State Archives to present a detailed account of how the Venetian Republic used its customary patent system t","PeriodicalId":314810,"journal":{"name":"ERN: Rules of the Game (Topic)","volume":"142 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-02-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133436090","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}
引用次数: 0
Continuity Planning for Family-Owned Businesses 家族企业的连续性规划
ERN: Rules of the Game (Topic) Pub Date : 2019-01-29 DOI: 10.2139/ssrn.3322886
Nicole Garton
{"title":"Continuity Planning for Family-Owned Businesses","authors":"Nicole Garton","doi":"10.2139/ssrn.3322886","DOIUrl":"https://doi.org/10.2139/ssrn.3322886","url":null,"abstract":"The overriding objective of any business family when undertaking succession planning is to ensure the smooth transition of wealth from one generation to the next, while maintaining family harmony and ensuring that the business survives the transition unscathed. The traditional approach of business succession and wealth transition planning, which focusses on a one time transactional process of transferring financial assets from one generation to the next in a tax efficient manner, often gets the timing and order of work wrong. Continuity planning is a long term, multidisciplinary process which starts with the human elements of the family. \u0000 \u0000Researchers have identified the following four main causes of wealth transfer failures: 1. Lack of family mission and vision: 10%; 2. Breakdown of trust and communication within the family: 60%; 3. Failure to prepare heirs for roles and responsibilities: 25%; and 4. Professional errors in accounting, legal or financial advisory planning: less than 5%. \u0000 \u0000Of note, less than 5% of succession plans that failed, failed due to professional negligence. Commonly implemented succession and wealth transition structures, which are primarily put in place to minimize or defer taxes and manage risk, result in a failed succession plan, not because of the structures themselves, but in spite of them. The technical skills of wealth transfer are certainly important and should in no way be diminished. That said, proficient legal and tax planning does not ensure a successful transition of wealth. Traditional succession planning only prepares the assets for the family. Continuity planning prepares the family for the assets. \u0000 \u0000What follows is an overview of: 1. The nature of family business; 2. The main theoretical concepts of family business; 3. The unique importance of succession for family business; 4. The concept of transgenerational wealth; and 5. Continuity planning, its process and management.","PeriodicalId":314810,"journal":{"name":"ERN: Rules of the Game (Topic)","volume":"21 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-01-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132168422","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}
引用次数: 1
Smart Contracts as a Form of Solely Automated Processing Under the GDPR 根据GDPR,智能合约是一种完全自动化的处理形式
ERN: Rules of the Game (Topic) Pub Date : 2019-01-08 DOI: 10.2139/ssrn.3311370
Michèle Finck
{"title":"Smart Contracts as a Form of Solely Automated Processing Under the GDPR","authors":"Michèle Finck","doi":"10.2139/ssrn.3311370","DOIUrl":"https://doi.org/10.2139/ssrn.3311370","url":null,"abstract":"This article examines the interaction between smart contracts and Article 22 GDPR. There is currently much debate regarding the potential of smart contracts. In spite of their name, this form of computer code is however neither necessarily smart nor a contract. I argue that they are, however, a form of solely automated data processing under Article 22(1) GDPR and subsequently examine the interaction between smart contracts and the European data protection framework to highlight uncertainties regarding the interpretation of the legal regime applying to solely automated forms of data processing under the GDPR.","PeriodicalId":314810,"journal":{"name":"ERN: Rules of the Game (Topic)","volume":"120 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-01-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127600309","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}
引用次数: 16
How to Set Budget Caps for Competitive Grants 如何为竞争奖助金设定预算上限
ERN: Rules of the Game (Topic) Pub Date : 2018-11-15 DOI: 10.2139/ssrn.3321298
Alessandro De Chiara, E. Iossa
{"title":"How to Set Budget Caps for Competitive Grants","authors":"Alessandro De Chiara, E. Iossa","doi":"10.2139/ssrn.3321298","DOIUrl":"https://doi.org/10.2139/ssrn.3321298","url":null,"abstract":"We study how funding agencies should set budget caps for competitive grants. We show that budget caps influence the researchers' submission strategy and, in particular, whether they steer their project choice towards the agencies' favorite projects, and the level of funds they request. The welfare impact of alternative approaches depends on the level of competition, the cost of public funds and the social value of project implementation.","PeriodicalId":314810,"journal":{"name":"ERN: Rules of the Game (Topic)","volume":"33 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-11-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127827701","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}
引用次数: 0
Giving Process Its Due When a Standard Development Organization Changes the Rules of the Game 当标准开发组织改变游戏规则时,给予过程应有的尊重
ERN: Rules of the Game (Topic) Pub Date : 2017-01-22 DOI: 10.2139/SSRN.2903602
G. Willingmyre
{"title":"Giving Process Its Due When a Standard Development Organization Changes the Rules of the Game","authors":"G. Willingmyre","doi":"10.2139/SSRN.2903602","DOIUrl":"https://doi.org/10.2139/SSRN.2903602","url":null,"abstract":"The process a Standards Developing Organization (SDO) employs to revise its patent policy is an aspect of the SDO’s competitive posture in the global marketplace. Research and publications about the substance of SDO patent policies are widely available. But a dearth of research exists on the processes SDOs employ to revise their patent policies. Generally, the processes an SDO uses to revise its patent policy are part of the governance processes of the SDO. As a baseline, the governance processes of an SDO must be consistent with the applicable legal system defining what is acceptable and unacceptable behavior. What an SDO says about its governance processes is a further consideration. Thus the procedures themselves, the procedures’ relationship to the applicable legal system and what the SDO says about the procedures all play a role in understanding how an SDO revises its patent policy. SDOs place varying priorities on the role of balance among the SDO’s constituencies and the dependence on consensus decision making in revising their patent policies. The processes of the American National Standards Institute (ANSI); the Institute of Electrical and Electronic Engineers Standards Association (IEEE-SA); the European Telecommunications Standards Institute (ETSI); the Internet Engineering Task Force (IETF); and the combined International Organization for Standardization, International Electrotechnical Commission and the International Telecommunications Union (ISO/IEC/ITU) illustrate this variety of approaches. The process an SDO uses initially to define its patent policy has different implications than the process an SDO employs to revise its patent policy. This is primarily due to the diverse interests that participants have in the legacy standards of the SDO that could be impacted by revisions of the patent policy. Two discriminators - the extent to which an SDO requires or encourages balance among the SDO’s constituencies and the relative importance of consensus decision making - are key to distinguishing among SDO processes for revising their patent policy. Any revision of an SDO’s patent policy has potential to benefit or harm participants and users of the standards. In choosing the priority to place on balance among constituencies in the revision process, SDOs make important decisions based on the diverse interests and numbers of constituents in its standards setting process … and the needs of constituent users of the SDO’s standards. The greater use of “consensus decision making” promotes greater general support for the outcomes of the revision process.","PeriodicalId":314810,"journal":{"name":"ERN: Rules of the Game (Topic)","volume":"2473 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-01-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131103415","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}
引用次数: 2
Organizational Rule Attributes and Compliance: A Multi-Method Green Tape Study 组织规则属性与合规性:多方法绿带研究
ERN: Rules of the Game (Topic) Pub Date : 2016-12-01 DOI: 10.2139/ssrn.2879136
Erin L. Borry, Leisha DeHart‐Davis, Wesley Kaufmann, Cullen C. Merritt, Zachary Mohr, L. Tummers
{"title":"Organizational Rule Attributes and Compliance: A Multi-Method Green Tape Study","authors":"Erin L. Borry, Leisha DeHart‐Davis, Wesley Kaufmann, Cullen C. Merritt, Zachary Mohr, L. Tummers","doi":"10.2139/ssrn.2879136","DOIUrl":"https://doi.org/10.2139/ssrn.2879136","url":null,"abstract":"This study examines the attributes of organizational rules that influence compliance. Rule compliance fosters organizational effectiveness by aligning individual behaviors with organizational preference. While a range of theoretical explanations has been offered for compliance behavior, the characteristics of rule design and implementation have received less empirical attention. Borrowing from the green tape theory of effective rules, this study examines the influence of two particular characteristics – rule formalization and rule consistency – on compliance behavior. Three studies, two vignette experiments and a survey of two local government organizations, provide the data for the research. The results suggest that rule formalization and rule consistency independently increase compliance, with mixed evidence of interaction effects. The broad implication is that public managers must attend to both rule design and implementation to secure compliance from employees.","PeriodicalId":314810,"journal":{"name":"ERN: Rules of the Game (Topic)","volume":"18 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127102186","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}
引用次数: 0
Litigation Finance and the Problem of Frivolous Litigation 诉讼财务与轻浮诉讼问题
ERN: Rules of the Game (Topic) Pub Date : 1900-01-01 DOI: 10.2139/ssrn.3366637
M. Abramowicz
{"title":"Litigation Finance and the Problem of Frivolous Litigation","authors":"M. Abramowicz","doi":"10.2139/ssrn.3366637","DOIUrl":"https://doi.org/10.2139/ssrn.3366637","url":null,"abstract":"Litigation finance companies have some incentives to screen plaintiffs applying for financing based on the strength of their claims, but a company may still have incentives to provide financing when the probability that a plaintiff would prevail at litigation is low. The result is that litigation finance may facilitate both meritorious and nonmeritorious claims. This Article argues that fee limitation rules for litigation finance companies can improve their incentives to select only relatively high probability cases, thus enhancing the normative case for states to enact legal reforms allowing litigation finance. A simple version of the rule, which will work if a case is sure to go to trial, allows a successful plaintiff to return no more than the amount borrowed and then the same amount again, plus ordinary interest. This rule will encourage finance companies to lend only where a plaintiff’s probability of winning is expected to be greater than 50%, although the rule can be altered to target lower probability thresholds. The Article also describes alterations to the rule to accommodate the possibility of settlement, cases in which damages are disputed, where injunctive relief is at issue, where financing is provided in installments, and where only a portion of the plaintiff’s expenses are paid by litigation finance companies. Should fee limitation rules become established in the fee limitation context, they also might be extended as a vehicle of tort reform. A requirement that plaintiffs and defendants fund some portion of their litigation costs through litigation finance can reduce frivolous suits and frivolous defenses of meritorious suits and may have advantages over other mechanisms, such as fee-shifting rules.","PeriodicalId":314810,"journal":{"name":"ERN: Rules of the Game (Topic)","volume":"14 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128851975","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}
引用次数: 5
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