Obligations Of Company Research Articles

Social and Environmental Disclosure Rating in the Libyan Oil and Gas Sector

Over the last two decades, as companies have become more responsive to investors' concerns about the environment and corporate social responsibility (CSR), they have started to provide information about the environmental and social impacts of their activities in their annual reports. The purpose of this study is to explore the practices of environmental disclosure (ED) and the extent of response of companies in Libya's oil industry to these concerns. In addition, the study aims to identify what motivates companies to disclose social and environmental information. To fulfil these aims, data was collected by means of interviews with managers and accountants from oil and gas companies operating in Libya. The findings reveal that the managers and accountants of local and foreign oil and gas companies operating in Libya are aware of and understand the significance of CSR and ED. The study found that the majority of these companies disclose some environmental information in their annual reports or at least have policies to disclose this information in the near future. They disclose three types of environmental information: good, neutral and bad news. The interviewees emphasised the benefits companies gain from corporate disclosure, such as improving the company’s reputation, meeting environmental regulations and satisfying organisations interested in environmental performance. Some also suggested that companies disclose environmental information for economic reasons. On the other hand, the investigation highlighted that the most important obstacle to ED is the lack of environmental regulations and ED standards; in other words, there is no legal obligation for companies to disclose environmental information.

Regulatory exclusivities for medicinal products for human use in the EU.

The placing on the market of medicinal products for human use in the EU is strictly regulated and harmonized by Regulation (EC) number 726/2004 and Directive 2001/83/ EC . The main objective of this legislation is the protection of public health and therefore the key principle is that no medicinal product may be placed on the market before the quality, safety and efficacy of the product has been assessed and approved by the competent authorities in a marketing authorization procedure. A marketing authorization is granted on the basis of an application dossier containing extensive data, including clinical research data, to document and demonstrate the quality, safety and efficacy of the medicinal product under evaluation. The development and placing on the market of medicinal products, including the compilation of the marketing authorization dossier, requires a significant amount of time, resources and money. The European legislature has recognized that it was necessary to offer proper protection in the form of data and market protection to enable adequate recovery of and return on investment for the costs of these research requirements. Furthermore, additional incentives in the form of special exclusivities or extension of data or market protection periods were introduced to stimulate new research in specific areas, for example, research of new therapeutic uses of known substances which bring a significant benefit to patients or the bringing to the market of medicinal products for patients suffering from rare (orphan) diseases in accordance with Orphan Regulation (EC) number 141/2000. Finally, the Pediatric Regulation (EC) number 1901/2006 introduced, on one hand, an obligation for pharmaceutical companies to research the use of their medicinal products in children and, on the other hand, a special reward for the fulfillment of this obligation. These different protection and exclusivity rights, which are without prejudice to existing intellectual property rights (e.g., patents), are often referred to as ‘regulatory exclusivities’. In this article, we will provide a brief overview of these regulatory exclusivities and their main features.

Závěrečný účet - latentní údaje o hospodaření obce

Final account is a particularity of local government. All municipalities are obliged to compile it. The purpose of a final account is to summarize the yearly economic activity of a municipality. The aim of the article is to analyse the accessibility of final accounts to citizens based on a performed research. A municipality is the primary community of citizens. The law defines a municipality as an accounting entity obliged to keep books. Unlike companies, which compile annual report, a municipality compiles a final account. According to applicable legislation, a municipality is not obliged to make its final account public. The analysis of accessibility of final accounts has been performed within a selected district of the Moravian-Silesian Region comprising of seventy-two municipalities. The result is a finding that a vast majority of municipalities take advantage of the loophole in the law and forbid citizens from accesing the information on the economic activity of the municipality. The solution seems to be to amend the relevant legislation with the obligation to make the final account public, analogically to the obligation for companies to make their annual report public.

Testing Adverse Selection Using Frank Copula Approach In Iran Insurance Markets

Existence of adverse selection in insurance markets could have irreversible effects on enterprise decision-making process and obligations of insurance companies. In this article, testing adverse selection is done by jointly modeling the coverage selection and accidents frequency using Frank's copula, where the dependence parameter states the existence of relationship between coverage selection and the frequency of accidents. Our margins are modeled by ordered logistic regression model for the coverage selection and negative binomial regression model for the accidents frequency. The copula model is calibrated using 59,547 one-year cross-sectional cases of collision insurance coverage of Iran Insurance co. The results indicate a significant positive coverage selection-accidents frequency relationship.

A UK practitioner view of domestic energy performance measurement

There is a growing body of evidence concerning the energy efficiency performance of domestic buildings in the UK, driven by policy-based agendas, such as the need for zero carbon dioxide homes by 2016 for new build homes, and the prior Green Deal and energy company obligation for sustainable refurbishment. While there have been a number of studies funded and results presented in this area, little work has been done to understand the drivers, practices and issues of data collection and analysis. There are a number of major building performance evaluation (BPE) studies in the UK, yet behind many of these research projects are practical issues of data loss, experimental error, data analysis variances and resident issues that are common when studies move from the actual to the living lab. In this paper the issues of domestic energy are addressed by leading BPE practitioners in the UK. They identify issues of client demands, technical failure, costs and implementation. This work provides insights of both academic and industry-based practitioners and considers, not only the practicalities of building performance studies, but also issues for these types of studies in the future.

Human rights as a litigation tool in international arbitration: reflecting on the ECHR experience

At times in which the United Nations, the European Union (EU), and the International Bar Association are focusing on the relationship between business and human rights, and courts are willing to assert jurisdiction over damage claims brought against multinational corporations by victims of alleged human rights violations, the old wisdom that international arbitration and human rights were two separate and unrelated dimensions of legal discourse and practice seems no longer tenable. Indeed, it is more and more clear that business relationships and related dispute resolution mechanisms may have, whether directly or indirectly, human rights implications. It is also more and more evident that breaches of human rights can be committed not only by Governments but also by State judiciaries and legislatures as well as by private parties such as those normally resorting to arbitration. Most remarkably, there is growing consensus that the law of human rights, whether stemming from international treaties, domestic constitutions, contractual undertakings, or self-regulation instruments, can impact on arbitration agreements, arbitral proceedings, and awards. And, in fact, arbitration may even become a preferred tool for the adjudication of human rights-related disputes. This is confirmed by the Rome 1950 Convention for the Protection of Human Rights and Fundamental Freedoms and by the ample case-law that the European Commission and the European Court of Human Rights have developed on arbitration. This case-law unequivocally shows that the Convention can be the source at once of rights and obligations for companies and other entities when carrying out business activities and settling the ensuing disputes, just as it can influence the behaviour of the courts of contracting States involved in arbitral matters and the content of the contracting States’ arbitration law. In particular, the fundamental rights to ‘access to justice’ and to a ‘fair trial’ enshrined in Article 6.1 of the Convention can play a role in the assessment of the validity of a variety of rules, covenants or measures, or in the solution of a multitude of ‘complex issues’, which may crop up in the practice of international arbitration. These include issues relating to mandatory arbitrations, arbitration agreements entered into by ‘weak parties’, advance waivers to the remedies available for setting an award aside, dismissals of counsel for safeguarding the integrity of the proceedings, decisions of arbitral institutions in connection with challenges of arbitrators or approval of awards, mechanisms for the constitution of arbitral tribunals in the context of multi-party arbitrations, procedural orders setting deadlines or deciding on the admission of evidence, the lack of reasoning in decisions of arbitral institutions or arbitral tribunals, the granting by arbitral tribunals of interim measures ex parte , situations arising from the inability of an impecunious party to fund the arbitral proceedings or to comply with security-for-costs orders, anti-suit injunctions. Furthermore, Article 1 of Protocol 1 to the Convention which protects the right of property can be invoked to secure the economic benefits of an award, as a reaction to a contracting State failing to cooperate in its speedy and effective enforcement. More in general, awards issued at the end of proceedings where the right of fair trial has been thwarted or which are on their merits at odds with any of the human rights proclaimed by the Convention may be held to conflict with the contracting States’ public policy. In that case, the failure by any competent court of a contracting State to annul them or to refuse their recognition/enforcement could be challenged by any interested party before the European Court. Human rights implications are even more important for arbitrations or arbitration-related court proceedings taking place within contracting States which happen to be also Member States of the EU (as is the case for many important ‘places of arbitration’), given the important role that the EU treaties grant to the Convention as a source of rules of ‘higher law’ and the forthcoming formal adherence of the EU to the Convention system. Then, arbitral tribunals, arbitration institutions, State courts acting as juges d’appui or requested to control or enforce arbitration agreements or awards, as well as parties involved in arbitral proceedings, are all well advised to carefully consider the human rights dimensions of international arbitration when taking decisions, defining litigation strategies, negotiating arbitration agreements. This becomes even more compelling if the arbitration is in any way related to a contracting State of the Convention, be it so because of its seat, the applicable law, the courts involved in the enforcement of the arbitration agreement or of the award. (European) Convention for the Protection of Human Rights and Fundamental Freedoms (1950), arts 6, 34First Protocol to the (European) Convention for the Protection of Human Rights and Fundamental Freedoms (1952), art 1Consolidated Treaty on European Union (post-Lisbon) (2008), art 6Charter of Fundamental Rights of the European Union (2007), arts 52, 53

The right to Work of Disabled Workers in France (French Report)

The French disability and employment policy is based on two complementary pillars: the obligation for companies to ensure their workforce includes no less than 6% of disabled workers, and the prohibition of any direct or indirect discrimination on the grounds of disability. However, although the 2005 Act has certainly contributed to improving the labour market situation of disabled workers, disabled people continue to be exposed to the risk of exclusion from the labour market. In terms of discrimination, the concept of ‘reasonable accommodation’ has been transposed into French law. To date, there have been very few cases on this issue, and it is therefore not yet possible to analyse how judges may rule on this issue and, particularly, what may constitute a disproportionate burden for employers.

A Study of the Relationship between Dividend and Finance, the Case of Companies Admitted into Tehran Stock Market

This study intends to review the relationship between dividend and finance and company's performance. This study covers the period between 2008 through 2013 and the subjects involve 83 companies, selected through random sampling at Tehran Stock Market. In this research Qtwbin is used as a measurement criterion for a company's performance. Moreover, to measure finance and raise in a company's obligations, such variables as company's size, finanncial leverage, dividend and agency costs as control variables, using multivariate regression, were examined. Findings showed that there was a significant relationship between the current-year's dividend and finance and company's performance and that when finance increased and performance improved there was a tendency toward an increase in dividend.

A Guide Through the Medicare Morass: Medicare Fundamentals and Best Practices for Liability Insurers and Their Attorneys

SINCE its enactment, the mandatory Medicare reporting obligations of companies and insurers under U.S. federal law, i.e., 111 of the Medicare and Medicaid SCHIP Extension Act (MMSEA) of 2007, have been discussed extensively. (1) From an insurer's perspective, the laws are opaque and onerous. This article provides an overview of best practices under the Medicare laws to ensure that the obligations of both insurers and their attorneys are met. The article also addresses how different insurance arrangements change the Medicare reporting requirements and, in some instances, avoid them altogether. I. The Medicare Program Medicare is the federal government insurance program available to U.S. citizens and permanent residents who are 65 or older, have certain medical conditions or have received Social Security disability benefits for 24 months. (2) To understand 111 and how it has changed the nature of personal injury litigation and claims handling, some background information is helpful. The Medicare program was signed into law in 1965 but, in response to funding concerns, was amended in 1980 by the Medicare Secondary Payer Act (MSP Act). The MSP Act provided that Medicare may not pay for treatment or services provided to a Medicare beneficiary if another entity is legally or contractually obligated to provide such coverage. (3) The entity obligated for payment is known as the plan or payer. Medicare is, thus, a secondary payer. In the context of liability insurance, Medicare makes so-called on behalf of the beneficiary for medical treatment or services pending final settlement of a liability claim with the expectation of reimbursement from the liability insurer (also called the primary payer). However, the MSP Act lacked sufficient enforcement mechanisms to ascertain when reimbursement was possible from a primary payer and thus was unable to effectively ensure reimbursement. Accordingly, on December 29, 2007, the Medicare program was again amended in an effort to reduce government spending by enabling the agency responsible for administering Medicare (the Centers for Medicare and Medicaid Services or CMS) to better determine when another entity is responsible for the medical expenses of a Medicare beneficiary and ensure reimbursement for those Medicare-covered items and services that another entity is required to cover. This amendment has been dubbed Section 111 and requires any entity who makes a payment to a person eligible for Medicare arising out of a personal injury claim to report that payment to CMS. It is important to keep in mind that reporting is triggered by Medicare eligibility, not receipt of Medicare benefits. Reporting is done quarterly by submitting an electronic file on the Coordinator of Benefits Secure Website. (4) The Coordinator of Benefits Contractor (COBC) is a branch of CMS that is responsible for coordinating whether Medicare is entitled to reimbursement for any medical expenses and, if so, the total amount of reimbursement owed. Due to inefficiencies arising out of 111's implementation, on January 10, 2013, the Medicare laws were once again amended by the Strengthening Medicare and Repaying Taxpayers Act (SMART Act). Parties are now able to request the amount that Medicare has paid as conditional payments 120 days prior to the expected date of a settlement, and CMS is required to respond with the lien amount within 65 days (or 95 days if CMS determines additional time is needed). (5) The purpose of the provision is to enable parties to engage in mediation and settlement discussions with some idea as to the amount of the Medicare lien. Prior to this amendment, CMS was not obligated to respond within a specified time frame to a request for the amount of conditional payments, and settlements were delayed as a result. Additionally, CMS must establish each year a threshold amount that is exempt from 111 reporting equal to the amount that CMS incurs in attempting to collect conditional payments. …

Социальная ответственность бизнеса: правовые аспекты экономической концепции

The article deals with the problem of creation of the business (corporative) social responsibility conception and key elements of this conception. The functioning of the market economy in the modern society is impossible without strong ties between society and business community, social obligations of companies, corporations, firms and so on. Idea of business (corporative) social responsibility reflects these ties and is based on the philosophical doctrine of moral ideals as the goal of social progress. Business (corporative) social responsibility supposes free-will initiatory social activity of companies — activity, that is not related to commercialization. There are some areas of such activity: occupational safety, providing favourable conditions of employment, protection the environment, social security, health protection, culture and education. The author has attempted to characterize principles of companies’ social activity. These are: respect for law order, which means not only subjection to the law, but voluntary renunciation of using deficiencies of law and other law imperfections; respect for international laws; respect for human rights; concerning for moral ideals. Companies realize social responsibility in different ways. First of all through collective bargaining procedure. The next way is cooperation with government and local communities. Cooperation with non-government organizations (civil society organizations) and charity are also possible.

The Business of Migration Control: Delegating Migration Control Functions to Private Actors

AbstractPrivate companies are explicitly and implicitly, directly and indirectly, involved at all stages of the migration process. This delegation of migration control functions to private actors is largely unregulated and the multi‐layered policy implications are not well understood. The lines of responsibility and accountability, but also liability, for decisions being made and for force used are not always clear and this most seriously affects vulnerable migrants and potential migrants. This delegation is occurring in some form in all global regions. International agreements relating to migration do not take this privatisation into account and international discussions about the obligations of private companies do not consider the Migration Business directly. This survey article presents the situation and argues that informed international policy debate is needed in this area.

Questionnaire for Biotechs: Vical Incorporated

This feature contains forward-looking statements subject to risks and uncertainties that could cause actual results to differ materially from those projected. Forward-looking statements include statements about the company's focus, collaborative partners, product candidates, and developmental status. Risks and uncertainties include whether any product candidates will be shown to be safe and efficacious in clinical trials, the timing of clinical trials, whether Vical or its collaborative partners will seek or gain approval to market any product candidates, the dependence of the company on its collaborative partners, and additional risks set forth in the company's filings with the Securities and Exchange Commission. These forward-looking statements represent the company's judgment as of the date of this release. The company disclaims, however, any intent or obligation to update these forward-looking statements.

A Few Good Companies: Rethinking Firms’ Responsibilities Toward Common Pool Resources

While a significant body of literature has highlighted the moral obligations of companies regarding the sustainable use of common pool resources, business activities that contribute to the sustenance of common pool resources remain embryonic. Studies in this area have largely focused on environmental stimuli rather than on the complex motivational structures that drive or hinder businesses’ contributions to common pool resources. We explore the different motives and behaviors of businesses and their contributions to common pool resources, and propose four roles by which companies’ motives and behaviors toward common pool resources can be categorized—namely, free riders, followers, believers, and altruists. We shift the focus from moral reasoning to Platt’s (Am Psychol 28(8):641–651, 1973) notion of social trapping and his “ways out” as Platt’s “ways out” include propositions that address not only environmental stimuli but also companies’ motives. Both types of propositions are important for businesses to be able to respond rapidly to the scarcity of certain common pool resources and to use and maintain common pool resources in a sustainable way. Based on our categorization and Platt’s typology of social traps and “ways out,” we propose a theoretical framework by which companies and other stakeholders are provided with a differentiating perspective that allows for propositions addressing the complex nature of motivational structures and common pool resources. Our framework helps business leaders, institutions, and policy makers decide on actions that can contribute to the sustainability of common pool resources and that differ from actions that solely serve organizational self-interests.

ICH E11 : développement d’un médicament pédiatrique : comparaison entre les États-Unis, l’Union Européenne et le Japon

To address the lack of appropriate pediatric drugs available on the global market, in 2000 the International Conference on Harmonization of Technical Requirements for Registration of Pharmaceuticals for Human Use (ICH) issued the ICH E11 guideline regarding the Clinical Investigation of Medicinal Products in the Pediatric Population. This guideline considerably changes the environment of drug development for children. It has been written specifically to harmonize, promote, and facilitate high-quality and ethical clinical research for children within the ICH regions, i.e., the United States of America (USA), the European Union (EU), and Japan. This article details the various regulations applicable in each ICH region following the publication of the guideline. The framework of rewards, incentives, and obligations for pharmaceutical companies established for the development of pediatric drugs are compared. It appears that the USA and the EU have both developed specific regulations for pediatric drug development while Japan has not. However, in Japan, pharmaceutical companies (PCs) are encouraged to develop pediatric drugs voluntarily, and they may be granted additional months of market exclusivity or the postponement of the drug re-examination deadline. In both the USA and the EU, regulations aimed to increase the number of clinical studies conducted in children, in order to ensure that the necessary data are generated, determining the conditions in which a drug may be authorized to treat the pediatric population. PCs are encouraged to develop pediatric assessment, including pediatric clinical trials, which is described in a pediatric plan submitted to the relevant authorities. A system of rewards for PCs submitting an application for marketing authorization containing pediatric use information has been put in place to cover the additional investment for testing drugs in children. Subject to conditions, these rewards consist in a 6-month extension of the patent or supplementary protection. Regarding the approval for new medicinal products in these two regions, regulations require PCs to include, when it is relevant, a pediatric assessment in their drug research and development plan, which must be approved. Although these regions have implemented the ICH guideline, the regulation differs with respect to the timing of studies in children relative to adults and approval of a pediatric drug development plan. Except for special cases, the pediatric investigation plan in the EU is required to be prepared and submitted to the competent authorities upon availability of adult pharmacokinetic studies (after phase I), which means at an early phase of a new drug development plan. In the USA, the pediatric plan is requested later during the phase II or III trials. In practice, it has become difficult for pharmaceutical industries to develop a practicable clinical program for pediatrics including timelines for studies in children that satisfy both EU and USA authorities. Nevertheless, at an early stage of the development strategy, direct support and advice from competent authorities can be obtained. For the ICH regions, pediatric committees are well-established albeit less structured in Japan. Their roles are to review and assess pediatric plans, to issue recommendations, to advise pharmaceutical companies on the content and format of pediatric data to be methodically collected and analyzed, and to avoid exposing children to unnecessary or redundant clinical trials. This regulatory framework encourages the study and the development of pediatric drugs, but it is still quite difficult to actually measure the impact of the ICH E11 on increasing the number of drugs for pediatric use.

Retrofitting social housing: reflections by tenants on adopting and living with retrofit technology

Abstract Retrofit has been described as one of the major engineering challenges of the twenty-first century (Kelly 2009). However, the industry needs to look beyond regarding the problem as restricted to the physical upgrade of properties. Asset managers, engineers and installers work on and in people’s homes and, in many cases, are subsequently changing the way householders use their homes to meet their comfort and wider energy needs. Here we consider how the twin issues of adopting and living with retrofit technologies have affected groups of residents in social housing. We discuss issues of trust, social norms, engagement and concern that have shaped the adoption process, as well as investigating the everyday experience of living with new configurations of energy consumption. The findings have relevance not only for the social housing sector but also raise questions as to how to effectively deliver programmes such as the Green Deal and the Energy Company Obligation within the UK.

An Examination to Effects of Gender Differences on the Corporate Social Responsibility (CSR)

Corporate Social Responsibility (CSR) generally means company's obligation to contribute to the well being of society. CSR refers to operating a business in a manner that meets or exceeds the ethical, legal, commercial and public expectations that society has of business. It tends to emphasis that businesses should act and be held accountable formore than just its legal responsibilities to shareholders, employees, suppliers and customers. A strategic approach to CSR is increasingly important to the competitiveness of enterprises. Despite the intensive debate which has been taking place among academics, consultants and corporate executives, the concept remains open to various definitions and understanding. The main purpose of this research is to investigate the effects of a basic variable including gender differnces on the corporate social responsibilty. For achieive to this purpose, after detailed literature review and research bachground, a comprehensive questinnaire has been provided. Data has been gathered from Iranian Center of Statitics (ICS). For data analysis the SPSS sofftware has been used. Based on this software, related and appropriated statitical analysis have been implemented. The results showed that despite of relative superiority of women orientation to the CSR, but there is no significance and meaningful differences between male and female's orientation to the CSR.

The Limited Liability Company as a Universal Legal Form of Business

The new legislation increased flexibility of the Limited Liability Company and removed limitations that presented a barrier to establishing a company and its activities. The most important changes include waiving the statutory limit of registered capital and decreasing the minimum amount of the deposit, the option of creating various types of shares and the option of expressing the share by a security. It thus expands the practical use of this form of company, which can approach a Public Business Company and even a Joint-stock Company, but retains limited liability of partners towards company obligations and a simple internal structure.

Odpowiedzialność przedsiębiorstwa wodociągowo – kanalizacyjnego

In the article sets out liabilities of the water and sewerage company and rights of consumers to seek redress in civil law, due to improper performance of agreement of water supply. In particular, analyzed the general obligations of company, like supply of water in the required quantity, at the right pressure, continuous and reliable. In addition, author identified situations in which consumer has the right to claim compensation or reduction of price of water.

Low carbon retrofit: attitudes and readiness within the social housing sector

Purpose– The study was designed to assess the attitudes, strategic readiness and drivers and barriers to the adoption of sustainable retrofit within the UK social housing sector.Design/methodology/approach– The study was undertaken using a structured questionnaire that was completed by 130 providers of social housing.Findings– The study showed that social housing providers were aware of the sustainable retrofit agenda, but with varying levels of strategic readiness. Immediate benefits to residents were seen as important drivers, as opposed to more remote issues such as climate change. The emerging nature of the sustainable retrofit market was seen as a major potential risk for residents.Research limitations/implications– The study represents a snap-shot of adoption and effectiveness issues, therefore does not show the trajectory of adoption which should be addressed in a follow-up study.Practical implications– The social housing sector has been viewed as a market maker for the sustainable retrofit market. The study shows the attitudes of the sector to this role.Social implications– The study has implications for the understanding social housing providers’ engagement with the sustainable retrofit market to address fuel poverty and climate change. Social housing's role as market maker has implications for policies such as Green Deal and Energy Company Obligation.Originality/value– The study covers approximately 20 per cent of the social housing stock under management and gives a robust perspective of current views on adoption and effectiveness of retrofit technologies within the social housing sector. This is useful for both other social housing providers and policy makers.

The Green Deal and the Energy Company Obligation

Current UK energy efficiency policy is very fluid, with a number of new policies due to be introduced in 2012 and 2013, including the Green Deal and Energy Company Obligation. These mark a substantial change from the existing policy regime in a number of ways, notably the explicit aim of supporting higher cost energy efficiency technologies in housing and an attempt to engage new sources of private sector finance. This paper provides a critical analysis of the proposed policy changes both in terms of the institutional changes and the implications of a new finance mechanism for energy efficiency policy, as well as the overall impact on reduction of greenhouse gasses, in particular through the installation of different types of retrofitted insulation.