International Review of Law and Economics最新文献

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Strengthening worker benefits or destroying jobs: Effect of the 2008 Labor Contract Law in China 强化职工福利还是破坏就业——2008年《劳动合同法》对我国的影响
IF 1.1 3区 社会学
International Review of Law and Economics Pub Date : 2023-03-01 DOI: 10.1016/j.irle.2022.106121
Chih-Hai Yang
{"title":"Strengthening worker benefits or destroying jobs: Effect of the 2008 Labor Contract Law in China","authors":"Chih-Hai Yang","doi":"10.1016/j.irle.2022.106121","DOIUrl":"10.1016/j.irle.2022.106121","url":null,"abstract":"<div><p>This study examines the effect of strict enforcement of the 2008 Labor Contract Law (LCL) on firm employment in China. Although the LCL caused a substantial increase in labor cost<span>, there are no negative repercussions on employment. By contrast, surviving firms continue to increase employment driven by the strong labor demand of the fast-growing Chinese economy. However, compared with non-exposed firms, exposed firms suffered negative repercussions on employment after the enforcement of LCL. Exposed firms exhibited reduced wages after the LCL relative to non-exposed firms, suggesting that wage has a mediation effect on reducing the insurance expenditures of both employers and employees; they also raised productivity considerably after the LCL to absorb the incremental labor costs and survive in the market. However, there are heterogeneous effects of wage and productivity among firms of various ownerships and exporting behaviors.</span></p></div>","PeriodicalId":47202,"journal":{"name":"International Review of Law and Economics","volume":"73 ","pages":"Article 106121"},"PeriodicalIF":1.1,"publicationDate":"2023-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41835505","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 2
A macrohistory of legal evolution and coevolution: Property, procedure, and contract in early-modern English caselaw 法律演化与协同演化的宏观历史:近代早期英国判例法中的财产、程序与契约
IF 1.1 3区 社会学
International Review of Law and Economics Pub Date : 2023-03-01 DOI: 10.1016/j.irle.2022.106113
Peter Grajzl , Peter Murrell
{"title":"A macrohistory of legal evolution and coevolution: Property, procedure, and contract in early-modern English caselaw","authors":"Peter Grajzl ,&nbsp;Peter Murrell","doi":"10.1016/j.irle.2022.106113","DOIUrl":"10.1016/j.irle.2022.106113","url":null,"abstract":"<div><p>We provide a quantitative macrohistory of the evolution and coevolution of three fundamental elements of English caselaw: property, contract, and procedure. Our dataset is derived from a comprehensive corpus of reports on early-modern English court cases. Leveraging existing topic-model estimates, we construct annual time series of attention to each of the three legal domains between the years 1552 and 1764 and estimate a structural VAR. Property and procedure are affected for decades by their own shocks. Procedure and property coevolve. In contrast, contract adjusts quickly to its own shocks and does not coevolve with the other two areas of caselaw. We identify the episodes and events outside the legal system that correspond to systemic shocks. Edward Coke was a shock to procedure. The commercial revolution raised attention to contract. The Glorious Revolution, interestingly, did not lead to elevated attention to property issues, but the Civil War and Interregnum did. The evolution of contract, while relatively autonomous from the internal dynamics of the legal system, was, of the three legal domains, least autonomous from society.</p></div>","PeriodicalId":47202,"journal":{"name":"International Review of Law and Economics","volume":"73 ","pages":"Article 106113"},"PeriodicalIF":1.1,"publicationDate":"2023-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46264666","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 2
Law enforcement with rent-seeking government under voting pressure 执法部门和寻租政府在投票压力下
IF 1.1 3区 社会学
International Review of Law and Economics Pub Date : 2023-03-01 DOI: 10.1016/j.irle.2022.106118
Ken Yahagi , Yohei Yamaguchi
{"title":"Law enforcement with rent-seeking government under voting pressure","authors":"Ken Yahagi ,&nbsp;Yohei Yamaguchi","doi":"10.1016/j.irle.2022.106118","DOIUrl":"10.1016/j.irle.2022.106118","url":null,"abstract":"<div><p>This paper investigates how political accountability with voting pressure disciplines rent-seeking behaviors of the government (i.e., fine revenue maximization) by incorporating a two-period retrospective voting model into a law enforcement setting. For minor/major crimes where the pure rent-seeking enforcement is too strict/weak, the democratic process that provides disciplining incentives (e.g., lower discount rates, higher political rents, and fewer forgone collected fines the government must give up in exchange for reelection) makes the rent-seeking government weaken/strengthen enforcement. However, such discipline can still be insufficient and cause inefficient consequences. Additionally, for intermediate crimes, the democratic process can lead to the government’s inefficient pandering to voters and cause welfare deterioration, even compared to the pure rent-seeking enforcement case. The result shows that different types of distortions happen from previous studies when we consider the conflict between the rent-seeking government and citizens.</p></div>","PeriodicalId":47202,"journal":{"name":"International Review of Law and Economics","volume":"73 ","pages":"Article 106118"},"PeriodicalIF":1.1,"publicationDate":"2023-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44627973","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Counteracting offshore tax evasion: Evidence from the foreign account tax compliance act 打击离岸逃税:来自《外国账户税收遵从法》的证据
IF 1.1 3区 社会学
International Review of Law and Economics Pub Date : 2023-03-01 DOI: 10.1016/j.irle.2023.106126
Carmela D’Avino
{"title":"Counteracting offshore tax evasion: Evidence from the foreign account tax compliance act","authors":"Carmela D’Avino","doi":"10.1016/j.irle.2023.106126","DOIUrl":"10.1016/j.irle.2023.106126","url":null,"abstract":"<div><p>This paper aims to investigate the effect of the Foreign Account Tax Compliance Act (FATCA) on the deposits held by US global banks through their branches located around the world. Using an unpublished dataset on deposits held by branches of US banks on a geographically unconsolidated basis, we find that the FATCA led to a reduction in deposits held in branches located in tax havens. We find that this effect is more severe in those jurisdictions signing a reciprocal exchange of information agreement. We also advance evidence in support of deposit shifting within the US banking system towards locations without a reciprocal intergovernmental agreement.</p></div>","PeriodicalId":47202,"journal":{"name":"International Review of Law and Economics","volume":"73 ","pages":"Article 106126"},"PeriodicalIF":1.1,"publicationDate":"2023-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45090545","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Taxing banks leverage and syndicated lending: A cross-country comparison 对银行杠杆和银团贷款征税:一个跨国比较
IF 1.1 3区 社会学
International Review of Law and Economics Pub Date : 2023-03-01 DOI: 10.1016/j.irle.2022.106103
A. Burietz , S. Ongena , M. Picault
{"title":"Taxing banks leverage and syndicated lending: A cross-country comparison","authors":"A. Burietz ,&nbsp;S. Ongena ,&nbsp;M. Picault","doi":"10.1016/j.irle.2022.106103","DOIUrl":"https://doi.org/10.1016/j.irle.2022.106103","url":null,"abstract":"<div><p>Between 2010 and 2012 and with bank stability as the ultimate target, five European countries implemented a tax levy on banks’ liabilities thereby decreasing the cost of equity relative to the cost of debt. Using a difference-in-differences approach we assess the impact of this tax levy on banks’ participation in the syndicated loan market. We further investigate the impact of the tax levy along bank size and capital structure. We find that banks located in countries where the tax levy was implemented supply more credit. This increase is more significant for larger lenders and banks that are more capital constrained.</p></div>","PeriodicalId":47202,"journal":{"name":"International Review of Law and Economics","volume":"73 ","pages":"Article 106103"},"PeriodicalIF":1.1,"publicationDate":"2023-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49758708","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The effect of political influence on corporate valuation: Evidence from party-building reform in China 政治影响对企业价值的影响——来自中国党建改革的证据
IF 1.1 3区 社会学
International Review of Law and Economics Pub Date : 2023-03-01 DOI: 10.1016/j.irle.2022.106120
Christopher Chao-hung Chen , Re-Jin Guo , Lauren Yu-Hsin Lin
{"title":"The effect of political influence on corporate valuation: Evidence from party-building reform in China","authors":"Christopher Chao-hung Chen ,&nbsp;Re-Jin Guo ,&nbsp;Lauren Yu-Hsin Lin","doi":"10.1016/j.irle.2022.106120","DOIUrl":"10.1016/j.irle.2022.106120","url":null,"abstract":"<div><p><span>The party-building reform in China aims to strengthen the party-state control of firms by formalizing the Chinese Communist Party’s (CCP) role in corporate charters. We employ the reform as an exogenous shock to examine the effect of political influence on corporate valuation in the state-dominated economy. We first develop a hazard model of firms’ responses to the reform and use the predicted hazard rate as a proxy for a firm’s </span><em>ex ante</em><span> political influence. We find a positive correlation between firm valuation changes and the predicted hazard rate in the events of party-building reform announcements and a consistent long-term valuation effect based on the difference-in-differences analyses. We also find that the market reacts negatively when firms elect to adopt charter provisions that allow the CCP to control their personnel decisions. Together, our results are consistent with the hypothesis that the effect of party-building reform on a firm’s valuation depends on the trade-off between the benefits from the increased state capture and the costs of state influence in firm governance and that the enhanced political control costs are mitigated for firms with stronger existing political ties. This paper contributes to the literature by introducing a novel and integrated approach to measuring political influence that goes beyond the traditional state ownership measurement and by identifying </span><em>ex ante</em> political influence as an important factor in corporate valuation.</p></div>","PeriodicalId":47202,"journal":{"name":"International Review of Law and Economics","volume":"73 ","pages":"Article 106120"},"PeriodicalIF":1.1,"publicationDate":"2023-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42659000","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
District attorney compensation and performance 地区检察官薪酬及表现
IF 1.1 3区 社会学
International Review of Law and Economics Pub Date : 2023-03-01 DOI: 10.1016/j.irle.2022.106102
Gregory DeAngelo , Bryan C. McCannon , Morgan Stockham
{"title":"District attorney compensation and performance","authors":"Gregory DeAngelo ,&nbsp;Bryan C. McCannon ,&nbsp;Morgan Stockham","doi":"10.1016/j.irle.2022.106102","DOIUrl":"10.1016/j.irle.2022.106102","url":null,"abstract":"<div><p>We attempt to identify the causal effect of wages on a prosecutor’s effort by studying an exogenous salary<span> increase in New York. We measure the performance by the likelihood that a conviction is upheld when appealed. If the efficiency wage theory explains behavior, then the exogenous wage shock should entice better performance. Alternatively, if individuals who hold office are motivated primarily by an intrinsic motivations rather than strictly financial compensation, then their performance would be unrelated to changes in their salary. We mostly find, inconsistent with efficiency wage theory, that a pay increase has a null effect on prosecutor performance.</span></p></div>","PeriodicalId":47202,"journal":{"name":"International Review of Law and Economics","volume":"73 ","pages":"Article 106102"},"PeriodicalIF":1.1,"publicationDate":"2023-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43861483","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Investigation of the Neuroprotective Action of Japanese Sake Yeast on Dementia Type of Alzheimer Disease in Rats: Behavioral and Neurobiochemical Assessment. 日本清酒酵母对痴呆型阿尔茨海默病大鼠神经保护作用的研究:行为和神经生化评估。
IF 1.6 3区 社会学
International Review of Law and Economics Pub Date : 2023-01-19 eCollection Date: 2023-03-01 DOI: 10.3390/neurosci4010006
Motahareh Haghipanah, Fatemeh Ghalami, Maryam Saadat, Saeid Abbasi-Maleki, Reza Hossein Gholizadeh Salmani, Thomas Budde, Nasrollah Moradikor
{"title":"Investigation of the Neuroprotective Action of Japanese Sake Yeast on Dementia Type of Alzheimer Disease in Rats: Behavioral and Neurobiochemical Assessment.","authors":"Motahareh Haghipanah, Fatemeh Ghalami, Maryam Saadat, Saeid Abbasi-Maleki, Reza Hossein Gholizadeh Salmani, Thomas Budde, Nasrollah Moradikor","doi":"10.3390/neurosci4010006","DOIUrl":"10.3390/neurosci4010006","url":null,"abstract":"<p><p>Dementia involves several factors, and it is required to administer an agent with several efficiencies for its treatment. Sake is known to have antioxidant and anti-inflammatory properties and improves the serum concentration of BDNF. This study aimed to evaluate the neuroprotective action of Japanese sake yeast on dementia of the Alzheimer disease type in rats by behavioral evaluation and neurobiochemical assessment. The rats were grouped as non-Alzheimer rats (control rats) and Alzheimer rats administrated with 0 (AD), 10 (10-AD), 20 (20-AD), 30 (30-AD), and 40 mg/kg (40-AD) of sake. Anxiety-like and depression-like behaviors, the concentrations of brain-derived neurotrophic factor (BDNF), malondialdehyde (MDA), and ferric reducing ability of plasma (FRAP) were evaluated. The expressions of IL-1β, TNF-α, and IL-6 were assessed. The results showed that Alzheimer disease caused anxiety-like and depression-like behaviors (<i>p</i> = 0.000), decreased the concentrations of BDNF (<i>p</i> = 0.000) and FRAP (<i>p</i> = 0.000), increased the concentration of MDA (<i>p</i> = 0.000), and increased the expressions of IL-1β (<i>p</i> = 0.000), TNF-α (<i>p</i> = 0.000), and IL-6 (<i>p</i> = 0.000). The results showed that oral gavage of sake in higher doses decreased anxiety-like and depression-like behaviors (<i>p</i> = 0.000), increased the concentrations of BDNF (<i>p</i> = 0.000) and FRAP (<i>p</i> = 0.000), and reduced the concentration of MDA (<i>p</i> = 0.000) and the expressions of IL-1β (<i>p</i> = 0.000), TNF-α (<i>p</i> = 0.000), and IL-6 (<i>p</i> = 0.000). In sum, Japanese sake yeast can have roles in treating dementia of the Alzheimer disease type, but its mechanisms must be assessed in future studies.</p>","PeriodicalId":47202,"journal":{"name":"International Review of Law and Economics","volume":"1 1","pages":"45-53"},"PeriodicalIF":1.6,"publicationDate":"2023-01-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.ncbi.nlm.nih.gov/pmc/articles/PMC11523744/pdf/","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76502660","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Citizens united and individual sovereignty: A fresh perspective 公民团结与个人主权:一个新的视角
IF 1.1 3区 社会学
International Review of Law and Economics Pub Date : 2022-12-01 DOI: 10.1016/j.irle.2022.106099
Uriel Procaccia , Eyal Winter
{"title":"Citizens united and individual sovereignty: A fresh perspective","authors":"Uriel Procaccia ,&nbsp;Eyal Winter","doi":"10.1016/j.irle.2022.106099","DOIUrl":"10.1016/j.irle.2022.106099","url":null,"abstract":"<div><p>In recent years super-PACs jumped into the political fray by making significant donations to political parties and candidates thus tilting political outcomes to suit their agendas. Super-PACs raise their money from individuals and corporations and spend it to promote their cause. Numerous commentators studied their impact on the American political landscape and highlighted its implications from a constitutionally driven perspective, anchored in the Free Speech clause of the First Amendment as it applies to corporate persons. In this Essay we analyze the phenomenon from a different vantage point, the prohibition to spend other people’s money in support of a cause which they refuse to endorse. We prove that although contributions made by private donors to super-PACs may sometimes be justified, no such redeeming grace is tenable in the case of contributions made by large public corporations. The distortion is caused by inviting corporations to identify their presumed political preferences by employing the decision rule current in corporate matters of “one share one vote” which allocates disproportionate power to the holders of large blocks of shares. Since political controversies ought to be governed by a different decision rule- “one person one vote” the distortion cannot be remedied through the intermediation of corporate players.</p></div>","PeriodicalId":47202,"journal":{"name":"International Review of Law and Economics","volume":"72 ","pages":"Article 106099"},"PeriodicalIF":1.1,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45060767","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
Girls Just Wanna Have Funds? The effect of women-friendly legislation on female-led firms’ access to credit 女孩只是想要资金?对妇女友好的立法对妇女领导的公司获得信贷的影响
IF 1.1 3区 社会学
International Review of Law and Economics Pub Date : 2022-12-01 DOI: 10.1016/j.irle.2022.106101
Jérémie Bertrand , Caroline Perrin
{"title":"Girls Just Wanna Have Funds? The effect of women-friendly legislation on female-led firms’ access to credit","authors":"Jérémie Bertrand ,&nbsp;Caroline Perrin","doi":"10.1016/j.irle.2022.106101","DOIUrl":"https://doi.org/10.1016/j.irle.2022.106101","url":null,"abstract":"<div><p>Does a women-friendly legal environment help women overcome discrimination in credit markets? By examining antidiscrimination laws and their implications for women-led businesses' access to credit in 124 countries, the current study differentiates an effect on discouragement (i.e., not asking for credit when they need it, demand side) and an effect on the probability that they obtain credit (supply side). Legal protections are associated with lower discouragement for women-led firms, but they do not support the attainment of more credit. We demonstrate that enforcement efforts dramatically amplify the effect of women-friendly laws on self-restrictions in terms of credit and enable women-led firms to access more credit. Women are sensitive to the legal environment in which they operate, while banks need strong incentives to change their behavior. This effect is notable with regard to rational discouragement and prevails among smaller firms and in high-income countries. These results are robust to several tests.</p></div>","PeriodicalId":47202,"journal":{"name":"International Review of Law and Economics","volume":"72 ","pages":"Article 106101"},"PeriodicalIF":1.1,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136548980","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
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