LSN: Investment (Topic)最新文献

{"title":"Intellectual Property Rights and Foreign Direct Investment in Sub-Saharan Africa (2000-2016)","authors":"Olusegun Abayomi Olaniyi","doi":"10.2139/ssrn.3416987","DOIUrl":"https://doi.org/10.2139/ssrn.3416987","url":null,"abstract":"This study looks at the impact of intellectual property rights (IPRs) on foreign direct investment (FDI) for a cross-section of 30 Sub-Saharan African (SSA) countries between 2000 and 2016. The broad objective of this study is to appraise IPRs protection as a determinant of Foreign Direct Investment (FDI) inflow in Sub-Saharan Africa. Specific objectives are to: examine the trend of Intellectual Property Rights protection in Sub-Saharan Africa; investigate the extent of IPR protection in the region; and examine the impact of IPRs Protection on FDI in the region. <br><br>The data used include Foreign Direct Investment (FDI), Inflation rate (INF), Market size proxy by GDP (MKT), Trade openness (OPEN) and Population growth rate (POP), which were sourced from World Bank Development Indicators 2017 edition. Data on Intellectual Property Rights (IPR) and Government Integrity were sourced from Property Right Index by The Heritage Foundation 2017 index of economic freedom. Descriptive and four different methods of panel techniques (Pooled ordinary least squares, Fixed effect and Random effect models) and the panel Generalized Method of Moment (GMM) were used to analyze the data.<br><br>The results indicate that first, strengthening intellectual property rights (IPRs) has a positive effect on foreign direct investment (FDI) with a coefficient of 0.325310 and P-value of 0.0146. The GMM estimation was used because of its superiority to fixed and random effect estimations. Other exogenous variables used include the following: Government integrity (GOVTINT) has positive relationship with FDI though the effect is not statistically significant with coefficient of 0.0418919 and P-value of 0.3338. Inflation (INF), as expected has negative relationship but the effect is not statistically significant with coefficient of about 0.086286 and a P-value of 0.9524. Market size (MKT) proxy by GDP has a coefficient of 0.088942 and a P-value of 0.0385. So the relationship is positive and it is statistically insignificant. Openness (OPEN) also has positive and also the effect on FDI with a coefficient of 0.316320 but not significant because the P-value is 0.2605. Lastly, Population growth rate (POP) has a positive relationship and significant with a coefficient of 2.526767 and P-value of 0.0000.<br><br>As the results indicate, intellectual property rights (IPR) protection has positive effect on foreign direct investment (FDI) inflow into SSA; its impact is very huge. Therefore, IPRs protection is important for consideration when SSA countries are taking decision on policies. Other institutional policies have to be put in right perspective. All other things been equal, the enforcement of IPRs will enhance large inflow of FDI into Sub-Saharan African countries and translate into economic growth of these countries. The conclusion is that protection of intellectual property Rights has great impact on Foreign Direct Investment inflow in Sub-Saharan Africa.","PeriodicalId":365224,"journal":{"name":"LSN: Investment (Topic)","volume":"39 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-02-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125606820","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":"Legal Aid and Investment Treaty Disputes: Lessons Learned from the ACWL and Investment Experiences","authors":"R. Schwieder","doi":"10.2139/ssrn.3093651","DOIUrl":"https://doi.org/10.2139/ssrn.3093651","url":null,"abstract":"This article evaluates the opportunities for and challenges to the establishment of an advisory center on international investment law (‘ACIIL’), a legal aid facility designed off the successful Advisory Centre on WTO Law (‘ACWL’) but focused on investor-State dispute settlement (‘ISDS’). Drawing primarily on personal interviews conducted with high-placed sources familiar with the historical attempts at establishing investment advisory centers and/or the ACWL's origins and operations, it identifies seven ‘lessons learned’ from those experiences. It concludes that, though the ACIIL’s time has come, that center's future negotiators should be careful to heed the lessons learned by both the ACWL’s founders as well as those diplomats who have previously undertaken ACIIL-like initiatives, which provide invaluable insight into the political, financial, and logistical challenges they will need to overcome.","PeriodicalId":365224,"journal":{"name":"LSN: Investment (Topic)","volume":"130 1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-12-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134502281","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 Political Economy of the Foreign Corrupt Practices Act: An Exploratory Analysis","authors":"Rebecca Perlman, A. Sykes","doi":"10.1093/JLA/LAY001","DOIUrl":"https://doi.org/10.1093/JLA/LAY001","url":null,"abstract":"Critics of the Foreign Corrupt Practices Act (FCPA) have frequently claimed that it puts U.S. firms at a competitive disadvantage. This critique suggests that the beneficiaries of FCPA enforcement are foreign competitors of U.S. firms, and foreign economies that suffer fewer of the inefficiencies associated with corruption. Yet enforcement of the Act has increased dramatically since it first passed in the post-Watergate, anti-corruption era. If the FCPA really promotes foreign interests over the interests of U.S. firms doing business abroad, and if there are no obvious domestic beneficiaries of aggressive enforcement, why have domestic business interests been unable to push back successfully against growing enforcement? This paper suggests several reasons why the adverse effects of FCPA enforcement on U.S. business may be considerably smaller than some FCPA critics suggest, and why significant numbers of U.S. firms may actually benefit from enforcement. Our hypotheses find support in Congressional testimony, business surveys, and interviews with prominent FCPA practitioners and compliance officers.","PeriodicalId":365224,"journal":{"name":"LSN: Investment (Topic)","volume":"20 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125376651","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":"Investments on Disputed Territory: Indispensable Parties and Indispensable Issues","authors":"Peter Tzeng","doi":"10.2139/SSRN.2831545","DOIUrl":"https://doi.org/10.2139/SSRN.2831545","url":null,"abstract":"Nine investment tribunals may have to determine whether Crimea constitutes Russian or Ukrainian territory under international law. This should create some discomfort, as investment tribunals arguably should not have the power to settle territorial sovereignty disputes. This Article explores the merits of two preliminary objections to claims concerning investments on disputed territory: the doctrine of indispensable parties and the doctrine of indispensable issues.","PeriodicalId":365224,"journal":{"name":"LSN: Investment (Topic)","volume":"7 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-10-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129306795","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 EU and its Sovereign Debt Programmes: The Challenges of Liminal Legality","authors":"C. Kilpatrick","doi":"10.1093/CLP/CUX010","DOIUrl":"https://doi.org/10.1093/CLP/CUX010","url":null,"abstract":"This analysis focuses on the challenges the EU sovereign debt programmes raise for our understanding of legality in the EU by developing in particular the idea of liminal legality. Liminal legality, in the sense I develop it here, concerns legal issues awaiting legal location within one or more legal orders. I consider how long, and through which kinds of practices, do EU institutions allow unresolved legal spaces in the sovereign debt programmes to endure or re-emerge. This entails assessing the various EU judicial pathways through which sovereign debt programmes have been challenged. By stressing the temporal dimensions of liminal legality and the importance of viewing law as a practical enterprise, my analysis suggests that a narrowly doctrinal approach to recent cases such as Ledra Advertising, Mallis and Florescu does not capture the problematic dimensions of legality in the EU sovereign debt programmes.","PeriodicalId":365224,"journal":{"name":"LSN: Investment (Topic)","volume":"10 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-10-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121980506","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 Algorithms of Ideology in Economic Planning: A Critical Look at Cuba's National Economic and Social Development Plan 2030, with a Focus on the Pharma Sector","authors":"L. Backer","doi":"10.2139/ssrn.3005613","DOIUrl":"https://doi.org/10.2139/ssrn.3005613","url":null,"abstract":"The development plans of Marxist Leninist states are usually given short shrift as expressions of ideology (at best) and propaganda (at its most pathetic). Yet there is value in considering critically these development plans, if only to get a sense of the mindset of high level functionaries with control over macro-economic policy, and to get a sense of the administrative cultures within which governmental middle managers will actually exercise discretionary authority. Especially useful in that context is the Cuban Communist Party 7th Congress’s Conceptualizacion del modelo economico y social Cubano de desarrollo socialista: Plan nacional de desarrollo economico y social hasta 2030: Propuesta de vision de la nacion, ejes y sectores estrategicos in which the PCC posited that development can be better managed by rejecting the central role of markets, and substituting state planning in its place, taking an all around view of economic planning as inextricably bound up in social, political and cultural progress of a nation. The resulting structural proposal elaborated in the Cuban National Economic and Social Development Plan 2030 (PNDES) suggests behavior and choice algorithms with interesting implications even if only partially realized. It is particularly important as a vision for transition developed in the wake of anticipated changes in higher leadership and the effects of normalization with the United States. This essay critically considers PNDES in the current context national and regional context. It starts with a brief analysis of PNDES for what it can reveal about entrenched ideological perspectives that shape decision making and analysis within Cuban Party and administrative elites. It then considers the way these appear to manifest themselves as a set of self-referencing decision systems that substitute or supplant market or regulatory determinations. Those premises are tested against Cuban approaches to the pharma sector, among the most important targets of centrally planned development. The essay ends with an assessment of the consequences of Cuban current approaches for national and regional affairs.","PeriodicalId":365224,"journal":{"name":"LSN: Investment (Topic)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-07-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116060922","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":"Current Development on State Attribution in International Investment Arbitration: Flemingo v Republic of Poland","authors":"D. Jati","doi":"10.2139/ssrn.2998641","DOIUrl":"https://doi.org/10.2139/ssrn.2998641","url":null,"abstract":"In an award dated 12 August 2016, the Tribunal in Flemingo v Republic of Poland granted the claims of Flemingo Duty Free and ordered the Republic of Poland to pay compensation and costs amounted to over €17 million. This case features two novel discussions in state attribution concept in investor-state arbitration. First, one of the parties involved is a State-owned entity. State-owned entity (SoE) is rarely found in investment dispute, and it bears difficulties in identifying the status of it, especially if the status of the State-owned entity under review is regulated under domestic law and it poses different standard vis-a-vis with international law. To cope with this challenge, the Claimant promulgated a new approach called de facto approach to detect the status of the SoE, arguably setting a new record as the first-ever investment dispute to be arbitrated with the given approach. Second, the centre of gravity in this case also captures a contestation of State attribution concept. Within the theoretical domain, the State attribution idea recognises the degree of importance for weighing the role of each attribution assessment, primarily the interplay between structural and functional assessments. This case, although not explicit, depicts how the Tribunal tries to weigh the role of each assessment.","PeriodicalId":365224,"journal":{"name":"LSN: Investment (Topic)","volume":"38 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-07-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123789687","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":"Advantages and Disadvantages of Going Public and Becoming a Listed Company","authors":"Levon Ghonyan","doi":"10.2139/ssrn.2995271","DOIUrl":"https://doi.org/10.2139/ssrn.2995271","url":null,"abstract":"Going public and becoming a listed company is a major step for a business. It could lead them to a greater amount of funds being available through the public capital markets to help with development and business growth. Accessing to the international capital market is one of the most important reasons that companies choose to be listed in overseas capital markets. The aim of this paper is to discuss the above-mentioned statement with empirical market or firm examples. This paper investigates advantages and disadvantages of going public and becoming a listed company, including possible alternatives. It also includes information asymmetry, agency problem and other factors influencing on IPO results, as well as empirical evidence from different countries and various IPO experience. \u0000The structure of this article is as follows. It starts with theoretical review and research on IPOs. Second section shows the main benefits and significant disadvantages according to various scholars. In the next section we discuss information asymmetry, agency problem and others factors influencing IPO. Following section presents the empirical academic evidence of corporations after IPO in different countries and also alternatives to IPO. The last section concludes.","PeriodicalId":365224,"journal":{"name":"LSN: Investment (Topic)","volume":"11 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-06-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115582782","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":"How to Handle State-Owned Enterprises in EU-China Investment Talks","authors":"A. Garcia-Herrero, Jianwei Xu","doi":"10.2139/ssrn.3160514","DOIUrl":"https://doi.org/10.2139/ssrn.3160514","url":null,"abstract":"Chinese state-owned enterprises (SOEs) are one of the main obstacles preventing China and the European Union from agreeing a bilateral investment agreement (BIT). Given the benefits that both China and EU could obtain from a BIT, the question of SOEs should be addressed in the most effective way. We examine the main differences between Chinese and European SOEs, in terms of their sectoral coverage and, most importantly, their corporate governance. We argue that preferential market access for Chinese SOEs in China is the key to their undue competitive advantage globally, and is also the reason why global consumers might not necessarily benefit from Chinese SOEs in terms of welfare gain. Preferential market access in China, rather than ownership of SOEs, should be the key factor when evaluating the undue advantage enjoyed by Chinese corporates because private companies with ties to the Chinese government might also benefit from preferential market access. We also offer a checklist of issues for EU-China investment talks in relation to Chinese SOEs. First, creating barriers to prevent Chinese companies acquiring European assets will not solve the problem. Instead, equal market access in China is a much better goal to pursue in order to reduce the seemingly unlimited resources that Chinese SOEs seem to have to compete overseas. Second, bringing Chinese corporate governance closer to global market principles is also essential to ensure European and Chinese corporates operate on an equal footing in their cross-border investment decisions.","PeriodicalId":365224,"journal":{"name":"LSN: Investment (Topic)","volume":"36 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132616610","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":"Mavrommatis Palestine Concessions (Greece V Great Britain) (1924 – 27)","authors":"M. Waibel","doi":"10.5040/9781509995202.ch-003","DOIUrl":"https://doi.org/10.5040/9781509995202.ch-003","url":null,"abstract":"The Mavrommatis dispute was about the fate of conflicting concessions for the supply of water and electricity and associated economic and political control over Palestine in the interwar period. Both water and electricity were essential to the aspirations of the Jewish people to create a homeland in this inhospitable part of the world. The control over water, in particular, has provoked considerable bloodshed in this region due to water scarcity, and remains a central theme of the contemporary Arab–Israeli conflict. \u0000 \u0000The dispute about the concessions led to the three Mavrommatis Palestine Concessions cases before the PCIJ that are the focus of this chapter. As the sole dispute about the British Mandate in Palestine, these three cases provided a catalyst for the PCIJ to address vital constitutional questions concerning the Mandate, including the legislative powers of the Government of Palestine, the conformity of such legislation with the British Mandate and the interaction of private law rights and public law from the vantage point of international law that also characterises many contemporary investment disputes.","PeriodicalId":365224,"journal":{"name":"LSN: Investment (Topic)","volume":"100 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-05-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129211151","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}