Given the high cost of developing and implementing data standards such as eXtensible Business Reporting Language (XBRL), it is critical to assess their influences before they are adopted on a large ...scale. The European Parliament has voted for the new Transparency Directive that calls for the mandatory preparation of annual business performance reports in a single electronic reporting from January 1, 2020 based on a cost–benefit analysis by European Securities and Markets Authority (ESMA), with due reference to current and future technological options such as XBRL. Regulators in many other jurisdictions such as Canadian Securities Administrators are also assessing the costs and benefits from XBRL adoption. This paper informs such analysis by examining whether the expected benefit of information asymmetry reduction is realized through XBRL adoption in a European context. XBRL adoption among European non-financial firms is found to significantly increase market liquidity and thus reduce information asymmetry. The association is stronger for larger firms that have sufficient resources and expertise to properly implement the technology. The empirical findings also suggest that the association is stronger for non-high-technology firms whose financial statements affected by XBRL are more reliant upon by investors. Based on these findings, XBRL evidences a viable option as an electronic reporting format with effective implementation for businesses.
•Higher market liquidity/lower information asymmetry is associated with the XBRL adoption among European non-financial firms.•The association is stronger for larger firms with sufficient resources and expertise to properly implement the technology.•The association is larger for non-high-technology firms whose financial statements are more reliant upon by investors.•XBRL evidences a viable option as an electronic reporting format with effective implementation for businesses.
Switzerland has a unique political system, because of its institutional curiosities and unique democratic procedures. It seems that everyone should be surprised by the same state construction that ...dialectically combines confederation with federation. The Swiss political system represents a rare model of assembly government, known also as parliamentary-committee system. Its main trait is the lack of power division as a foundation of democratic order. Bicameral parliament – the Federal Assembly, composed of the National Council as representation of people and the Council of States representing the cantons acts as supreme authority and appoints all remaining federal institutions. The mode of election of the National Council is based on strict proportional representation without electoral thresholds and with maximal openness of the whole electoral process. The Federal Council that is popularly considered as government is executive institution and always has seven members. The Swiss governments acts as a collective body without prime minister. One of the members of the Federal Council serves as president. He has only formal procedural duties and has no political prerogatives. And, what is important, contrary to the name of his office, the president is not head of federation, because this role falls to the entire Federal Council. Four strongest political parties of country are represented in the government, and in a result of this, the permanent cooperation of the Swiss system makes a unique consensus democracy.
Das neue unionale Datenschutzrecht ist, entgegen mancher Befürchtung, kein law of everything. Vielmehr müssen unterschiedliche Rechtsmaterien ineinandergreifen, um eine sachgerechte Regelungsstruktur ...im Schnittbereich von Datenschutzrecht und Privatrecht aufzubauen. Philipp Hacker bestimmt das Verhältnis dieser Rechtsmaterien, insbesondere von DS-GVO und BGB. Denn die Verschränkung unterschiedlicher Technologieformen fordert mehr denn je ein rechtsbereichsübergreifendes Verständnis von juristischer Dogmatik und ein interdisziplinär fundiertes Konzept von Regulierung. Auf Basis des geltenden Rechts entwirft er ein integriertes Marktordnungsrecht für digitale Austauschverhältnisse. Die Untersuchung schließt mit Reformperspektiven, die aufzeigen, wie die informierte Einwilligung durch eine technologische ersetzt werden kann, um eine privatautonome Gestaltung von Rechtsverhältnissen unter den Bedingungen der digitalen Wirtschaft zu ermöglichen. Die Arbeit wurde mit dem Wissenschaftspreis der Deutschen Stiftung für Recht und Informatik 2020 ausgezeichnet.
We study the emergence of urban self-governance in the late medieval period. We focus on England after the Norman Conquest of 1066, building a novel comprehensive dataset of 554 medieval towns. ...During the Commercial Revolution (twelfth to thirteenth centuries), many merchant towns obtained Farm Grants: the right of self-governed tax collection and law enforcement. Self-governance, in turn, was a stepping stone for parliamentary representation: Farm Grant towns were much more likely to be summoned directly to the medieval English Parliament than otherwise similar towns. We also show that self-governed towns strengthened the role of Parliament and shaped national institutions over the subsequent centuries. (JEL D02, D72, D73, K11, K34, N43, N93)
•Novel technique for growing model-based trees for ordinal responses proposed.•Mixture models estimated at nodes accounting for uncertainty in ordinal scores.•Splitting criteria featuring both ...inferential and fitting issues introduced.•Effective graphical visualization of the results and flexibility.•Application to survey data and benchmark study to assess the proposal.
The paper introduces a new technique for growing trees for ordinal responses in the model-based framework. We consider the class of cub mixtures which is particularly appropriate to model perceptions and evaluations, as it designs the response process as the combination of a personal feeling and an inherent uncertainty. In our proposal, the partitioning process is based on the local estimation of cubregression models to profile responses according to feeling and uncertainty conditional to the splitting variables. In this regard, two alternative splitting criteria are introduced featuring both inferential and fitting issues. Moreover, the chosen modelling framework allows for advantageous visualization of the classification results. The proposal is illustrated using real data from a survey conducted by the Italian National Statistical Office, with focus on perceived trust towards the European Parliament. A benchmark study is conducted to settle the proposal among the available tree methods for ordinal responses.
We study agency frictions in the US Congress. We examine the long-standing hypothesis that political elites engage in conflict because they fail to internalize the associated costs. We compare the ...voting behavior of legislators with draft age sons versus draft age daughters during the conscription-era wars of the twentieth century. We estimate that having a draft age son reduces proconscription voting by 7–11 percentage points. Support for conscription recovers when a legislator’s son ages out of eligibility. We establish that agency problems contribute to political conflict and that politicians are influenced by private incentives orthogonal to political concerns or ideological preferences.
Studiul este consacrat analizei juridice a Proiectului de lege nr. 35/2023 adoptat în primă lectură de Parlamentul Republicii Moldova la 2 martie 2023 (și a unor materiale care îl însoțesc), ...urmărinduse scopul evaluării modului în care au fost respectate cerințele legale în domeniu privind întocmirea propriu-zisă a textului normativ, precum și regulile de procedură legislativă respectate de către legiuitor. În concluzie, se constată încălcarea cadrului normativ în vigoare în special pe segmentul modificărilor operate la nivelul textului Legii Supreme, ceea ce reliefează nivelul înalt de vulnerabilitate a supremației și securității Constituției Republici Moldova, precum și justifică necesitatea unor măsuri urgente de prevenire și contracarare a unor astfel de practici legislative vicioase.
Parlamentarna reprezentacja partii politycznych współcześnie staje się istotnym obszarem działalności każdego ugrupowania. Posłowie, zgodnie ze standardami statutów partyjnych stają się elementem ...elity partyjnej, piastując oficjalne funkcje w organach kolegialnych. Zmiany personalne w parlamencie oznaczają zatem zmiany w partyjnej elicie. W tym kontekście celem artykułu jest określenie skali zjawiska debiutujących posłów w latach 2011, 2015, 2019. Problemem badawczym sformułowanym przez autora jest pytanie o skalę zjawiska posłów debiutantów oraz o jego konsekwencje dla struktury demograficznej polskiego Sejmu, jak i poszczególnych partyjnych reprezentacji w parlamencie ujmowanych jako partyjne elity. Pytania szczegółowe dotyczą natomiast znaczenia parlamentarnej reprezentacji we współczesnych ugrupowaniach politycznych oraz określenia czy skala zjawiska w 2015 r. była znacząco różna od wyników elekcji z 2011 i 2019 r.? Przyjęte hipotezy zakładają, że: znaczenie reprezentacji parlamentarnej we współczesnych partiach na poziomie formalnym, jak i w ramach politycznej praktyki, stale rośnie, a co za tym idzie można o posłach mówić jako o partyjnej elicie. Druga hipoteza zakłada z kolei, że zjawisko posłów debiutantów ilościowo wyróżniało się po wyborach w 2015 r., niemniej jednak radykalnie nie zmieniało struktury demograficznej parlamentu w odniesieniu do dwóch pozostałych analizowanych kadencji. Okres podjętej analizy dotyczy stanu osobowego parlamentu wygenerowanego w wyniku trzech elekcji parlamentarnych w latach 2011, 2015, oraz 2019, co pozwoliło wychwycić ewentualną tendencję zjawiska.
Změny Ústavy České republiky Jirásek, Jiří
Acta Universitatis Lodziensis. Folia iuridica,
12/2018, Letnik:
84
Journal Article
Recenzirano
Odprti dostop
Zmiany Konstytucji Republiki Czeskiej. Konstytucja Republiki Czeskiej została uchwalona 16 grudnia 1992 r. Regulacja stosunków konstytucyjnych w Republice Czeskiej jest również uregulowana w ustawach ...konstytucyjnych, które w art. 112 Konstytucji określane są jako część „porządku konstytucyjnego”. Od 1993 roku konstytucję nowelizowano dziewięciokrotnie, zgłoszono również wiele innych projektów ustaw konstytucyjnych dotyczących zmian w konstytucji, które jednak nie zostały uchwalone.
This article considers how the European People's Party (EPP) responded to democratic backsliding in Serbia that unfolded under the leadership of its affiliate, the Serbian Progressive Party. Drawing ...on a qualitative analysis of the European Parliament resolutions and the responses of EPP legislators, the article demonstrates that the EPP has systematically ignored increasingly non‐democratic practices in Serbia. Seeking a wider pan‐European sway, the EPP strove to protect its Serbian member driven by strategic concerns and the logic of partisan allegiance. While there was a high level of intra‐party cohesion, a few EPP members consistently dissented and did not toe the party line. Their positions were fundamentally informed by contrasting normative commitments to liberal democratic principles and ideological proximity to the Serbian Progressive Party.
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