New challenges in energy system management that arose in the course of market-oriented reforms carried out in Russia are considered in the paper. The present management structure of Moscow energy ...system is described. Fundamental problems that reduce the management efficiency and performance in parastatal metropolitan energy companies with state participation are analyzed. Recommendations aimed at the elimination of the found shortcomings are suggested.
Title of the previous Public Journal of the Royal Polish Ministry of Justice 1918
Tytuł poprzedni Dziennik Urzędowy Królewsko-Polskiego Ministerstwa Sprawiedliwości 1918
Earlier reports of the death of the moral economy in nineteenth-century Britain have been greatly exaggerated. The idea that Victorian social and economic life was shaped by the rigid precepts of ...political economy needs to be re-evaluated. How to reconcile religious principles with the operation of the market was a pressing concern for Victorians, and nowhere was this more apparent than in the booming joint-stock economy. The divorce of ownership and control inherent to this form of business was thought to greatly expand the scope for commercial immorality. Numerous dramatic company failures, where shareholders' money was negligently or fraudulently lost, seemed to confirm the sceptics' worst predictions. This article explores political responses to fraud by means of a case study of the Royal British Bank scandal of 1856. First, it details the ways in which the state attempted to reconcile the competing claims of shareholders and depositors. Second, it examines legislation to prevent future frauds. Radical reforms were rejected in favour of measures designed to encourage shareholders to fulfil their regulatory duties. Finally, it considers the state-sponsored criminal trial of the bank's directors and manager. The difficulties encountered in establishing the legal basis of the prosecution led the government to amend the law, making commercial fraud less ambiguously criminal. This did not signal a commitment by the state to regulate the market through the courts, however: fraud trials were in fact seen as exceptional devices to restore faith in the fairness of society when this was called into question.
The analysis of equity and their variation during a financial year is an old custom in Anglo-Saxon accounting. In its simple form, such an analysis can be found in the interpretation of the structure ..."accumulated and retained situation" from North-American practices. Changes in the company's equity occurred between two dates of the balance sheet reflect the increase or decrease of net assets or of the wealth during the exercise. With the exception of changes resulting from transactions with the owners, such as contributions/withdrawals of capital and the distribution of dividends, the global modification of equity is represented by total earnings and losses generated by the activities carried out by the company during the entire reference period.
Purpose - The purpose of this paper is to highlight how fast the divide between the good corporate governance (CG) and corporate social responsibility (CSR) is declining. The concepts covered under ...CG and the areas covered under CSR are no longer distinctive. Both the philosophies advocate doing good and disclosing the good done.Design methodology approach - The study does a brief survey of Indian mythology to make its point clear that Indian philosophy is positive and it inculcates positive values in Indians, which influence their socially responsible behaviour. The study further analyses the annual reports of 50 Indian private corporate houses to show the extent of CG and CSR undertaken by them. The information is shown in the tabular form or in statement form, both are included for the purpose of the study.Findings - In India, the CG practices are mandatory as per the clause 49 of the listing agreement of Securities and Exchange Board of India (SEBI) for all the companies listed on recognized stock exchanges of India. However; there are two parts of disclosure - mandatory and non-mandatory. In so far as mandatory requirements are concerned, 100 per cent compliance exists. But with regard to non-mandatory requirements the results are quite disheartening. Similarly, when the study analyzed the annual reports to examine the extent of corporate responsibility disclosure the results are equally discouraging for reasons discuss below in the introduction part of the paper.Originality value - The study has revealed certain awakening facts, which will serve as a useful guide for policy formulation in relation to Indian corporate sector.
This article outlines the legal framework for the use of trusts in Russia and looks in more detail at whether there are any limitations on the recognition of foreign trusts in Russia. Before drawing ...a conclusion, the author examines whether and to which degree the use of trusts in Russia could be replaced by other institutions, namely a private foundation, in the framework of individual holding structures.
The two books under review are terrific and amount, essentially, to benchmarks for any future scholarship on adjustment in Germany and Japan (especially in Germany). In what follows, I will briefly ...praise and then, in a more extended manner, criticize the volumes and the perspective on change in Germany and Japan that they embody. But the praise is genuine and should not be lost in the disproportionate space devoted to critique in this contribution.
Many papers have been written about the effect of firm size on innovativeness, revealing a positive, a negative or a mixed impact. To this day, the so-called Schumpeterian hypothesis of the ...above-average innovativeness of large firms has neither been confirmed nor rejected, often because of insufficient data or a too-short observation period. Many studies concentrate only on a specific region or sector, or they analyze a very short time period. Windows of technological opportunities, providing technological booms for both firms and sectors, have not yet been investigated. An analysis of Germany’s chemical, metal and electrical-engineering sectors between 1877 and 1932 reveals that the sector-specific long-term relationship between firm size and innovativeness is negative, except during times of specific technological booms. In combination with firm-specific characteristics, this new aspect can contribute to a better understanding of the long-term relationship between firm size and innovativeness.
This paper investigates major developments in the Bulgarian dairy sector over the last decade. The evidence presented is based on a unique data set of agricultural households as well as interviews ...with dairy processors. We show that important structural changes have occurred in the dairy supply chain. These changes have been stimulated by both private initiatives at the dairy-processing level and increased government enforcement of stringent quality and hygiene regulations. As a result, vertical coordination has increased significantly. Foreign investors have played a major role. Also, the nature of vertical relations is changing, affecting contractual arrangements, payment delays, quality of the milk supply, and dairy processors' assistance to farmers.
