Financial Remedies Research Articles

Domestic abuse in financial remedy proceedings – a missed opportunity?

Domestic abuse in financial remedy proceedings – a missed opportunity?

Functional or financial remedies? The effectiveness of recovery strategies after a data breach

PurposeThis study aims to examine the relative effectiveness of functional and financial remedies in influencing customers' negative coping responses in the event of a data breach. It also uncovers the different mediating roles played by customers' feelings of anger and fear in the process of data breach recovery. This study thus differs from the literature, which has primarily focused on the impact of financial compensation and apologies for service failures in face-to-face environments.Design/methodology/approachTwo scenario-based experiments were conducted to empirically validate the model. The authors received 302 copies of the questionnaire, of which 269 were valid.FindingsThis study finds that functional remedies are more effective than financial remedies when sensitive information has been compromised, but there is no significant difference between the effectiveness of the two remedies when nonsensitive information has been compromised. In addition, functional remedies influence negative coping behaviors directly and indirectly; the indirect effect is achieved through the reduction of fear and anger. Contrary to the authors' expectation, financial remedies do not have a direct effect on negative coping behaviors; they can indirectly affect negative coping behaviors by reducing anger but do not affect negative coping behaviors by reducing fear.Practical implicationsThis study provides key insights into how to manage customer reactions in the event of a data breach, suggesting the use of carefully designed recovery strategies. Companies must attend to customers' specific emotional responses to manage their negative coping behaviors.Originality/valueThis study extends the limited literature on data breach recovery actions by investigating the different effectiveness of functional and financial remedies in the event of a data breach. It also uncovers how functional and financial recovery strategies affect customers' negative coping behaviors by revealing the different mediating effects of fear and anger.

THE NON-FINANCIAL RESULTS OF SUPPORTING ENTERPRISES OF THE AVIATION VALLEY USING PUBLIC FUNDS FOR RESEARCH, DEVELOPMENT AND INNOVATION

One of the most important stimulators for the economic situation of enterprises is conducting research, development and innovation activities. However, the costs of running these activities are so high that they exceed the financial capabilities of many enterprises. The financial remedy turns out to be state aid funds, which can bring a number of different benefits. The main purpose of this paper is to determine the non-financial results of supporting the Aviation Valley cluster through public aid for R&D&I. The article is based on a case study of a unit that raises significant funds for these activities. It defines the concepts of research and development and innovation activities, and discusses the development of these activities in Poland in the years 2011–2021. It also characterizes the non-financial results of supporting the Aviation Valley cluster via public aid funds for R&D&I, summarizing the most important achievements of the Aviation Valley.

The SEC Office of Whistleblower Fails to Take Action On A Potential Finance-Industry Wide Accounting Irregularity, With Possible Failure To Record As Short Term Liabilities Purchase Obligations in Private Placement Transactions

Since 2010, the enforcement of the Exchange Act by the Securities & Exchange Commission (“SEC”) has been bolstered by that agency’s Office of the Whistleblower (“OOW”). Since the creation of the OOW through the end of fiscal year 2017, the commission has received over 22,000 whistleblower tips. The Commission has obtained over $1.4 billion in financial remedies based on original information provided by whistleblowers. However, the SEC has issued an oral “No Further Action” on a claim brought by the Author that the industry is, regularly and systematically, failing to comply with a “no action letter” that prohibits any “unilateral outs” when the banks make a “firm commitment” to purchase securities. The author believes that the banks violate this “no action letter” in order to justify failing to record multi million dollar obligations to purchase securities as short terms liabilities. This article recommends the SEC prosecute such an action, retaining outside counsel if necessary.

The Impact of COVID-19 Vaccination on Countries' Economic Recovery: Taking the OECD as an Example

In 2019, the worldwide health system was significantly impacted by the COVID-19 pandemic which caused a chain reaction to all aspects of society. The epidemic has raised concerns about the upcoming economic crisis and recession. Despite public choice, budget constraints and many other factors, the formation of social immune barriers through mass vaccination is still one of the most effective measures to prevent and control the epidemic. Taking countries in Organization for Economic Co-operation and Development (OECD) for example, this paper aims to explore the relationship between vaccination rate and national economic growth. In 2020, almost all major economies in the world will have negative GDP growth. After countries took strict prevention and control measures and financial remedies, the economy began to improve. Using Difference-in-Difference (DID) method, qualitative and quantitative research helps us intuitively understand the impact of vaccination on national economic, and the regression results confirm the positive effect of vaccines on economic recovery. This conclusion provides some theoretical support for the policies of countries to promote COVID-19 vaccination.

The curious case of the vanishing fraud

ABSTRACT This case review critiques Cohen J’s judgment in Goddard-Watts v Goddard-Watts [2022] EWHC 711 (Fam), a second rehearing of the wife’s application for financial remedies on divorce. The foundational critique is Cohen J’s minimisation of the husband’s fraudulent non-disclosure of a massive increase in the value of some shares, which had necessitated the rehearing. I argue that the judge failed to consider whether the husband’s non-disclosure had undermined the basis on which the original consent order had been made: the husband had received more than half of the capital based largely on the risk associated with the shares, which had clearly paid off. The judge also failed to consider whether the decision in the first rehearing that the increase in the value of the shares was attributable to the husband’s post-separation endeavour was undermined by his failure to disclose the size of the increase. I critique the judge for making a needs-based award to the wife, arguing that this switches focus to the wife, further obscuring the husband’s deceit. Switching to needs allows the judge to retreat to safe ground where he can avoid difficult questions about the impact of the husband’s fraud on his ability to resist sharing his wealth with the wife.

Through a glass, darkly: Gallagher and transparency in the financial remedies court

Through a glass, darkly: Gallagher and transparency in the financial remedies court

“Invisible” Discrimination: Divergent Outcomes for the Non-Prototypicality of Black Women

By integrating the intersectional invisibility hypothesis with the BIAS (behaviors from intergroup affect and stereotypes) map framework, we examine the extent to which Black women’s dual-subordinated identities render them non-prototypical victims of discrimination, relative to White women and Black men, and the corresponding consequences. We predicted that Black women’s categorical non-prototypicality would reduce the believability of their discrimination claims, but that their non-prototypical attributes would lead to divergent treatment, depending on the type of discrimination alleged. Our predictions were supported across six experimental studies (Studies 1–4b). Specifically, Black women’s gender and racial discrimination claims were believed less than those made by White women and Black men, respectively. Moreover, after they alleged discrimination, Black women received less financial remedy than White women, but more financial remedy than Black men. Mediation testing revealed that the mechanisms underlying the believability and treatment of Black women were their non-prototypical categorization and attributes. Using discrimination data from the Equal Employment Opportunity Commission, Studies 5a and 5b replicated the effects observed on believability and financial remedy. By focusing on non-prototypicality at both the categorical and attribute levels, we thus help to disentangle when Black women’s intersectional invisibility may result in either intersectional advantages or disadvantages.

Analyses of burn-out among medical professionals and suggested solutions—a narrative review

: The increasing complexity of healthcare delivery in the United States and the financial challenges of meeting the escalating costs pose significant pressures on physicians, healthcare providers, and their teams. These various demands put physicians at high-risk for extreme mental fatigue, which affects their occupational performance and their patient’s well-being, and the healthcare delivery systems in general. Moreover, burned-out doctors are at risk exiting healthcare altogether leading to reduction patients’ access and continuity of care. In this paper, we performed a selective review of the literature related to health care associated burnout and utilize double-loop learning to offer opinions and selected solutions for physicians and healthcare organizations for interventions to minimize burnout and reverse its occurrence in the workplace and at home. Moreover, this paper will analyze the significant contributors to burnout, such as a lack of proper understanding, diversity and workplace factors, absence of organizational support systems, and health record-related burdens associated with 21st century medicine. For these reasons, the authors recommend a multifaceted approach that includes flexible scheduling, mental health education, and support systems. Other intervention areas include home-work balance, organizational interventions, and financial remedies for rewarding performance - by altering incentivization schedules. The approach considers a single and double-loop approach for medical establishments and their respective infrastructures

“Invisible” Discrimination: Divergent Outcomes for the Nonprototypicality of Black Women

By integrating the intersectional invisibility hypothesis with the behaviors from intergroup affect and stereotypes map framework, we examine the extent to which Black women’s dual-subordinated identities render them nonprototypical victims of discrimination, relative to White women and Black men, and the corresponding consequences. We predicted that Black women’s categorical nonprototypicality would reduce the believability of their discrimination claims, but that their nonprototypical attributes would lead to divergent treatment, depending on the type of discrimination alleged. Our predictions were supported across six experimental studies (Studies 1–4b). Specifically, Black women’s gender and racial discrimination claims were believed less compared to those made by White women and Black men, respectively. Moreover, after they alleged discrimination, Black women received less financial remedy versus White women, but more financial remedy versus Black men. Mediation testing revealed that the mechanisms underlying the believability and treatment of Black women were their nonprototypical categorization and attributes. Using discrimination data from the Equal Employment Opportunity Commission, Studies 5a and 5b replicated the effects observed on believability and financial remedy. By focusing on nonprototypicality at both categorical and attribute levels, we thus help to disentangle when Black women’s intersectional invisibility may result in either intersectional advantages or disadvantages.

Financial Remedies for Personal Property Damage in Water Main Breaks

AbstractAmerica’s infrastructure failure in water main breaks has led to personal property damage; in recent years, thousands of homes and businesses have been damaged by flood waters, and property...

Sectoral Performance and the Government Interventions during COVID-19 Pandemic: Australian Evidence

This study explores the contrasting impacts of the COVID-19 pandemic on various industries in Australia. Considering all daily announced information, we analyzed the diverse impacts of COVID-19 on the sectoral stock returns from 26 January to 20 July 2020. Sixteen out of twenty examined stock indices negatively react to the daily rise in COVID-19 confirmed cases. Several actions from the Australian government to control the pandemic are relatively ineffective in boosting the overall financial market; however, some positive interactions are captured in five sectors of industrials, health care, metals and mining, materials, and resources. The result shows that all industries that benefited from government financial assistance are either shielded or less severely affected by the pandemic. While sectors that did not directly receive financial remedies relatively showed no enhancement in their overall performance. Having achieved short-term success in helping the economy, the government recorded an all-time high deficit since 2004 that might eventually lead to adverse effects on the overall economy. The Australian equity market is found to be rationally distinct to the crude oil price risk, while positive correlations between AUD/USD rate and real estate-related sectors are reported.

Stranger Danger!: How Hackers Break into School Databases to Steal Student Data, and What Legislatures Should Do about It

Inadequate data security practices in K-12 public schools leave students’ personal information vulnerable to exposure, theft, and marketing on the dark web. In 2017, schools across the country reported 122 cybersecurity incidents, and those were only the events school officials detected and disclosed; the real number is likely much higher. These security breaches are costly for student victims and their families, often costing them hundreds or thousands of dollars in credit repair and identity recovery services. Though this problem affects every school in the United States, there is no federal law that establishes a standard for a school’s duty to its students in dealing with their personal information. Furthermore, though every state in the country has passed some form of school cybersecurity legislation, no state has gone beyond requiring that schools have a cybersecurity policy to articulate exactly how schools should protect this valuable student information. Worse, neither the federal nor state governments have provided any financial remedy for student victims of data theft or exposure. This Article presents one unprecedented legislative solution to remedy this growing national problem: Congress should pass legislation that establishes uniform standards for how schools should collect and protect student data, and how they should respond when cybersecurity breaches occur. It should also provide financial recompense for victims of the breaches so that they might move forward with little financial burden in the wake of such an event.

To the adequacy of the financial system to the modern economy of Russia

Subject. The article examines the adequacy of the financial system to the Russian economy as is. Objectives. I evaluate whether the financial system meets requirements of the modern economy of Russia, and model the scope of compliance. Methods. The study relies upon the statistical analysis and mathematical modeling of developments in the correlation of cash flows and economic activities. Results. The focuses on the adequacy of the financial system to requirements of the modern economy of Russia. I analyze the structure, form and content of the economic system during the generation and utilization of cash flows. The financial system is deemed inadequate if there are some controversies between cash flows and economic activities, which can be eliminated with specific financial and economic remedies that are typical of the Russian economy. Financial remedies include an increment in gold reserves and money supply. Economic ones require to increase the production of crude oil, natural gas, associated gas, extraction and enrichment of iron ore. Modeling the dynamics of the financial and economic systems and applying the Cobb–Douglas production function, I marked the compliance boundary of the financial system from perspectives of the modern economic system. Conclusions and Relevance. Seeing the current situation in Russia, we can guess the financial system is adequate to the economic situation. I should also point out a variety of opportunities to preserve the structure, form and content of the economy, using financing mechanisms within the adequacy requirements. The findings enrich relevant knowledge and create new competencies of governmental authorities for making effective managerial decisions to ensure the sustainability of the Russian economy in accordance with the financial policy.

In Pursuit of Financial Justice: Local African Communities’ Quest for Legal Redress Against Business-Related Human Rights Abuses

Mining corporations in Africa stand accused of violating human rights. This article gives a voice to the plight suffered by local African communities in accessing justice to remedy the violation of their human rights as a result of the business activities of mining corporations. It focuses specifically on the right to access justice in order to ask whether the affected communities get a fair and effective share of financial remedies to mitigate against the violation of their rights to health, clean environment and property. It examines two separate and independent avenues through which local communities access justice and asks which of the two, judicial or non-judicial approaches, guarantee these local communities a right to be heard and a recourse to financial remedies.

Pensions on divorce in Ireland: law, practice and a way forward?

The importance of pensions as a source of family wealth has attracted increased attention during the first decades of the twenty-first century. In particular, ever-greater focus is now being placed in many jurisdictions on how the wealth held in pensions is factored into financial remedies on marital breakdown. Notwithstanding that pension entitlements may also be some of the most valuable assets available for distribution on separation or divorce in Ireland, the Irish approach to pensions and pension adjustment orders on marital breakdown has attracted minimal comment or analysis. This article seeks to address this gap in the literature. It pulls together for the first time findings from various studies to investigate the prevalence of pension adjustment orders, specifically, in Irish divorce practice. Reflecting on these findings and the Supreme Court’s recent 2019 judgment in F v M, it analyses the regime and considers a multifaceted approach to reform.

The Physical and Emotional Toll of Identity Theft Victimization: A Situational and Demographic Analysis of the National Crime Victimization Survey

ABSTRACT The present study investigates the physical and emotional consequences of suffering an identity-related criminal victimization. In addition to reporting the extent and nature of these consequences, the present research also examines the potential determinants of the physical harms victims suffer following identity theft. Data from an analytic sample of 2,299 victims of identity theft from the U.S. National Crime Victimization Survey are analyzed, and results suggest that identity theft victimization produces consequences beyond the financial. Physical ailments and new medical conditions are often reported as a result of the crime. Further, several features of the incident were significantly related to whether victims experienced these harms, as were personal characteristics of the victim. These findings suggest that responses to identity-related victimizations – beyond financial remedies – should be considered by victims, practitioners, and policymakers.

Rules Versus Discretion in Financial Remedies on Divorce

Rules Versus Discretion in Financial Remedies on Divorce

Материальные и нематериальные способы защиты гражданских прав субъектов малого и среднего предпринимательства: проблема их достаточности

Материальные и нематериальные способы защиты гражданских прав субъектов малого и среднего предпринимательства: проблема их достаточности

Turkey: In the Midst of Crisis, Between Liberal Utopia and Keynesian Regulation

As Turkey’s growth numbers signalled negative news about the near future, possible economic remedies to solve an upcoming economic slowdown have been discussed. In this article by looking at the financial and banking sector performance of the country during 2001 local and 2008 global crisis, I tried to compare two mainstream strands of theory, i.e. liberal and Keynesian approaches to the economic crisis. It seems like the country has experienced a neo-liberal, unregulated financial episode until 2001 crisis, while in post-2001 period we have witnessed more regulatory and Keynesian financial remedies which were successful to save the country from more harmful effects of the Great Recession. Those Keynesian style regulations were mainly inspired from the effects of changes within the governing style of international financial institutions. But in the final section of the analysis, through pointing out the potential triggers for another economic crisis, this article argues that though Keynesian solutions are more logical and helpful in alleviating the symptoms of crisis, they could not make Turkey crisis-free. High current account deficits, persistent inflation, adamant unemployment and insufficient domestic production in the face of rising imports, all of these can be classified as the symptoms of the still crisis prone economic structure in the country. Then, other, more radical alternatives should be on the agenda for a better future.