Non-performance lies at the heart of much of the regulation that insurance companies face. Consumers’ concerns about non-performance of the insurance provider have also been cited as a possible ...explanation for low demand of microinsurance. We provide a behavioral evaluation of the welfare effects of nonperformance risk. We test the hypothesis that the presence of non-performance risk negatively impacts not just take-up of insurance but more importantly the welfare of the insured. We also test if violations of the reduction of compound lotteries axiom could drive this decrease in take-up and welfare. The results show that the compound risk characteristic of non-performance risk does not significantly decrease the welfare of insurance choices made by individuals. This counter-intuitive result is sensitive to the structural modeling of risk preferences. If one assumes the reduction of compound lotteries axiom does characterize behavior towards risk, one finds evidence that non-performance risk reduces welfare for the insured. But if one correctly allows for violations in that axiom in the representation of risk preferences, which is appropriate if one is going to test for the effect of compound risk from non-performance, then the counter-intuitive result is obtained. Take-up is not a reliable proxy for welfare, and the behavioral drivers of take-up are again not the same drivers of welfare. These results provide structural behavioral insight to inform normative policy design with respect to insurance regulation.
The article is devoted to the new Russian legislation institution of collecting money for non-performance of court decision - astrent. The legal nature and problems of it's enforcement in the Russian ...Federation of astrent are analyzed. investigate The circumstances that the court must take into account for recovering of astrent are investigated. Particular attention is paid to the problems of legal regulation of the aforementioned institution, gaps in legislation, hindering the implementation of astrent
This study aimed to analyze the influence of the value of the Z-Score, capital structure, size, credit risk and capital as measured by CAR on bank profitability. The object of this study is on the ...national banking industry. The sampling technique used in this research is purposive sampling. The sample in this study is a bank which went public on the Stock Exchange prior to the year 2013 and to publish financial statements in 2013 and 2014. The samples were 27 banks. Period study in 2013 and 2014. The analysis technique used multiple linear regression. The results showed that simultaneous Z-Score, capital structure, size, credit risk and capital effect on profitability. Partially value of the Z-Score, size, risk and CAR effect on profitability, while the capital structure policy has no effect on profitability.
The notion of child labour is well determined by relevant international instruments and it can be said that it is theoretically unquestionable. In practice, however, there are various concerns about ...how to distinguish legal child work from illegal child labour. Sexual exploitation of children, as well as trafficking in children for further exploitation, are still reality in many countries of the world, although they are characterized as the worst forms of child abuse and incriminated as criminal offenses. In addition, a large share of child labour falls under labour in agriculture and household work – these are forms that are very difficult to perceive, and in some cultures and traditions are practically allowed, regardless of the existing legal prohibitions. There are also different strategies which countries are developing to approach the problem of child labour. The aim of the research is to show that the theoretical framework of the content of child labour is undisputed and that it allows clear distinction of child work from child labour. Also, by examining content and scope of basic legal institutes it can be concluded how an effective system for protecting children from labour exploitation and other forms of illicit engagement should potentially look like.
Debt assignments have the effect of assigning a new creditor in the legal position of the creditorassignor, i.e. the right to claim, with all its accessories and warranties, in the same ...legalconditions, enforceable against all exceptions of the assignor, even the personal ones. Thus, theassignee is entitled to invoke the exception of breach of contract/non-performance, where the ratioof obligations originally derived from a mutually binding contract and the contractual partnerrefuses to fulfill the performance that was required. Invocation of exceptio non adimpleticontractus does not result in termination of the legal relationship of obligations, but only to itssuspension as a means to compel the debtor to fulfill the obligation assumed.
Introduction: The Regional Development Bank (BPD Bank) is expected to be a strong, highly competitive bank, which will contribute to the growth and even distribution of sustainable regional ...economies. Background Problem: A review by the Financial Service Authority (OJK) of the BPD Bank’s business growth indicates the low competitiveness of the BPD Bank, relative to other commercial banks. Novelty: Limited prior studies have been conducted on the profitability determinants of the BPD Bank, especially in Indonesia, and previous studies have only focused on the internal determinants of profitability. Hence, this research aims to analyze both the internal and external profitability determinants of the BPD Bank in Indonesia. Research Method: This study analyzes 135 observations in total from all 27 BPD banks in Indonesia for five years, from 2011 to 2015. This research measured bank profitability using ROA and ROE as the dependent variables. The independent variables are the internal and external determinants of bank profitability. The internal determinants of profitability consist of TA, TCORCAP, CAR, NPL, LDR, OE/OI and NIM; whilst the external determinants include TMS, INF and BIRATE. Findings: The findings of this study show that the profitability of the BPD Bank, as measured by its Return on Assets (ROA) and Return on Equity (ROE), is significantly determined internally by the total assets, LDR, OE/OI, and NIM and externally by the BIRATE and inflation. Those variables have positive relationships with profitability, except for OE/OI and inflation, which have negative relationships with profitability. In addition, two hypotheses are only partially supported, in which the total core capital and CAR show negative relationships only with ROE. Conclusion: The findings of this paper provide a deeper insight to help manage the profitability of the BPD Bank, which eventually can promote sustainable economic development.
Getting Out of a Contract Rose, Adam; Leibowitz, David; Magnus, Adrian
2001, 20170705, 2017-07-05
eBook
This book is written by three commercial lawyers. Their clients often ask them as much for help in getting out of a contract as in getting them into one in the first place. Built around two business ...case studies, the book highlights the various legal issues that a business must address when faced with a contract it wants to walk away from. In the first instance the business needs to discover whether it is as shackled by a contract as it thinks it is. In many cases a contract is not as binding as it might initially appear - Getting Out of a Contract explains the circumstances in which this applies. It then goes on to explore how to minimize the damage should the agreement be inescapable and helps the reader to understand what the consequences of any actions might be. Written in plain English, the authors manage to demystify complicated aspects of English law for the non-lawyer. This book will help managers to: ¢ address how they make contracts; ¢ avoid making wrong decisions because they fail to appreciate what contracts they actually have or how to get round them; ¢ become more attuned to the legal ins and outs of contracts, enabling them to use lawyers more cost-effectively Company secretaries, finance directors and managers at all levels will find Getting Out of a Contract accessible and an invaluable business planning tool.
Adam Rose, David Leibowitz and Adrian Magnus are solicitors and partners at City of London law firm Berwin Leighton Paisner. Their daily work covers commercial contracts, commercial disputes and competition law. Between them, they have some 40 years of professional experience, advising businesses of all sizes on their contracts.
United Nation Convention provided Contract for the international Sale of Goods(CISG) in 1980. Since then, european countries were enthusiastic about proposing amendments to modernize contract law, ...for example, the Unidroit Principles of International Commercial Contracts (PICC) in 1994 and the Principles of European Contract Law (PECL) in 1995, stood as two cornerstones in the efforts to modernize and harmonize international contract law. Following the reforming trend, on 1 January 2002, the so-called Act on the Modernization of the Law of Obligations came into force in Germany. The evoking heat of harmonizing and uniforming the contract law swept across Asia, Japan amended Obligations of the Civil Code recently and Ministry of Justice in 2017 initiates the amendment conference for Obligations of the Civil Code, seeking the specialist and public consultation as well. In Japan’s amendment process, it is unavoidable to deal with the conflict between the globalization culture and the local identity; ther efore,
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