Investment Restrictions Research Articles

EXPLORING THE DYNAMICS BETWEEN MUTUAL FUND AND INVESTORS BEHAVIOUR

The basic purpose is to know about the Mutual Fund Industry and to know the behavior of the Indian Investors regarding different investment tools. This project will provide me t he better platform to understand the History, Growth and various other aspects of Mutual Fund. It will also help me to understand the behavior of Indian investor regarding different inve stment tools. SEBI is the apex regulatory of capital markets. SEBI has enacted the SEBI (mutual fund) Regulations, 1996, which provides the scope of the regulation of the mutual fund in India. All Mutual funds are required to be mandatory registered with SEBI. The structure and formation of mutual funds, appointment of key functionaries, operation of the mutual funds, accounting and disclosure norms, rights and obligations of functionaries and investors, investment restrictions ,compliance and penalties are all defined under the SEBI regulations. Mutual funds have to send half yearly compliance reports to SEBI, and provide all information about their operations

기업집단에서의 최고경영자 교체: 내부시장의 효과

Despite extensive research on factors influencing the turnover of Chief Executive Officers
 (CEOs), studies focusing specifically on CEO succession within business group-affiliated
 firms, are relatively scarce. Additionally, while some research has investigated the impact
 of business group affiliations on the performance-turnover relationship, the findings have
 been inconsistent. To address this gap, this study focuses on the internal markets exclusive
 to firms affiliated with business groups. Building on existing literature on CEO succession
 and business groups, I hypothesize that the magnitude of internal transactions in products
 and services diminishes the effect of firm performance on CEO turnover. Further, I
 hypothesize that the extent of internal capital investment from other affiliated firms and
 the size of the internal labor market intensify this effect. The analysis, based on CEO
 turnovers in listed non-financial firms in business groups that were subject to mutual
 investment restrictions from 2010 to 2015, supports the hypotheses. This study contributes
 to the existing literature on CEO succession in business groups by emphasizing that the
 groups' internal environment is pivotal in shaping decision-makers' perceptions and
 evaluations during the succession process.

Exploration of Planning and Design Strategies for Residential Historical Communities based on Protecting Cultural Stability

In urban design and urban renewal, preserving communities and rural heritage that are not included in the protection list has always been controversial. The main difficulties they face are often investment restrictions and low returns. However, perhaps considering it solely based on economic factors may not be rigorous enough; heritage is crucial to the inheritance of community spirit and cultural sensitivity of the community. This article will explore the important value of community heritage and rural heritage that have not been included in the protection list for residents and take Xuanyuandian Community in Changsha City, Hunan Province, and Yanxia Village in Zhejiang Province as examples to discuss the use of urban heritage in the process of urban renewal and design. Planning and design strategies for residential historic communities with the main purpose of protecting community cultural stability.

Legal Risk in Transnational Investment and Its Countermeasures

In today's world, economic globalization has become an irreversible trend. Various countries and regions are gradually becoming important entities in economic globalization. Transnational investment faces a number of legal challenges and risks, including investment restrictions, differences in legal systems, corrupt practices and dispute settlement mechanisms. To address these issues, investors should have a thorough understanding of the legal differences between their home and host countries, make use of international treaties and agreements, and improve dispute settlement mechanisms in bilateral agreements. To draft a clear and comprehensive investment agreement that defines the rights and obligations of the parties involved and includes dispute settlement provisions, in addition, investors should assess and address potential legal risks through due diligence, diversification of investments, purchase of loss insurance and use of entities that provide legal protection. The need to prioritize legal considerations is essential to successful cross-border investments and to protect investments in global markets.

The Use of Social Media in Improving Investment Literacy in Islamic Mutual Funds

Reksadana Syariah are a forum for raising public funds which are managed by a legal entity called an Investment Manager, to then be invested in securities such as: stocks, bonds and money market instruments in accordance with the provisions and principles of Islamic sharia, including a portfolio of fund placements. in Islamic financial instruments such as Islamic stocks and sukuk. Islamic mutual funds can only invest in financial securities that are in accordance with sharia rules and principles, and of course they are still bound by investment restrictions set by the OJK. Securities that are classified as sharia are included in the List of Sharia Securities issued by OJK. Reksadana Syariah are still bound by Islamic Sharia rules which are based on the Koran. Reksadana Syariah have a supervisor called the Sharia supervisory board whose job is to supervise, provide advice, give consideration to the use of social funds, as well as education, promotion and product development. The community itself is not very familiar with what exactly Reksadana Syariah are and the rules contained therein. In this journal it can be seen how Reksadana Syariah are managed in accordance with existing rules.

The Impact of Investment Restrictions on Pension Participants: A Case Study of Nigeria

The Impact of Investment Restrictions on Pension Participants: A Case Study of Nigeria

Research on Risk and Legal Regulation in Transnational Investment: Based on the comparison of current legislation in China and the United States

The enterprise transnational investment is thriving, and our economy is developing rapidly, but facing a shortage of talent, lack of technical development, management is not in place, investment risks, and so on many problems. From the perspective of national investment policies, developed countries have strengthened investment restrictions, and these measures are related to national security such as critical infrastructure and core technologies. Instead, developing countries continue to ease policies to promote investment. At the same time, tax-related investment policy measures taken around the world over the past decade show that tax holidays and reduced corporate income tax (CIT) are the main ways countries attract investors. Using the method of comparative analysis, this paper first analyzes three kinds of risks in transnational investment, namely capital security, environment, and tax issues, and then sorts out the regulations on transnational investment in the current legislation of China and the United States from the aspects of environment and tax, and finally puts forward suggestions to improve China's relevant legislation.

The necessity of justice for a fair, legitimate, and effective treaty on plastic pollution

In 2022, states resolved to negotiate by the end of 2024 a legally binding international instrument to govern the life cycle of plastics, including the prevention of marine pollution. Prioritizing justice, this study contends, is going to be necessary for a fair and equitable agreement that safeguards human rights, which in turn is going to be essential for the treaty’s legitimacy and effectiveness. Five justice principles in particular will need to guide development and implementation of the agreement. First, negotiators, policymakers, and implementors will need to strive for distributive justice, reflecting the strong evidence that plastic pollution is disproportionately harming vulnerable populations, especially in developing countries. Second, they are going to need to commit to procedural justice, ensuring Indigenous peoples and marginalized communities have the opportunity to participate fully and meaningfully in plastics governance. Third, they will need to aim for environmental justice at all levels of governance, avoiding rules, incentives, and market mechanisms that exacerbate social inequities or violate human rights. Fourth, they are going to need to impose strong regulatory controls, including trade and investment restrictions, to enhance corporate transparency and accountability for plastic pollution and environmental injustices. Fifth, they will need to provide technical and financial assistance to help transition marginalized populations to a non-polluting global plastics economy, avoiding further indebting low-income states while placing the economic burden on high polluters and high-capacity states. The article concludes by reflecting on possible approaches, regulatory controls, and legal concepts to promote these principles and enhance the treaty’s legitimacy and effectiveness.

INSTITUTIONAL EFFICIENCY AS AN IMPERATIVE OF THE POST-WAR INNOVATIVE DEVELOPMENT OF TERRITORIAL AND ECONOMIC SYSTEMS IN UKRAINE

Topicality. Despite numerous measures to stimulate scientific, technical and innovative development, declared by programs, legislative and departmental normative documents of Ukraine, the actual effectiveness of their implementation remains low, and priority focus on the innovative path of development did not become an integral part of it. Formal institutions should provide better legal, economic, and political institutional conditions, such as establishing strict and fair laws to protect stakeholders, reducing investment restrictions and increasing freedom for business, finance, and capital controls, as well as addressing corruption, bureaucracy, and autocracy. Such a policy is a prerequisite for creating a better investment environment and increasing the efficiency of resource allocation for the innovative development of territorial and economic systems in the context of post-war recovery of Ukraine.Aim and tasks. The aim of the article is to examine the theoretical-methodological and legal basis of the entrepreneurial environment in the aspect of institutional support for the development of innovative activity within territorial&economic systems. The tusk of the study is to propose measures for its improvement in the post-war period in order to recover the Ukraine’s economy on innovative bases.Materials and Methods. The research is based on results of comparative, semantic analysis and theoretical generalization of the previous studies, contemporary scientific views and empirical observations regarding the impact of institutional efficiency on investment, economic growth rates and total factor productivity (TFP) from a macroeconomic perspective. The contextual analysis results were applied to was applied to identify contradictions in the existing organizational and legal basis of the existing institutional framework for the development of territorial communities and business entities in the aspect of their innovative activity of territorial&economic systems and the overall economy of Ukraine in the post-war recovery context.Research results. The conducted research have led to a set of results, including: (1) improvement of categorical apparatus of the theory of regional management by defining the category of the "territorial&economic system", (2) determination of the main formal institutions and institutions that regulate the development of innovative activities in an entrepreneurial sector of the country and the development of territorial communities, (3) the contextual analysis of the existing institutional support conducted within the study allows for drawing conclusions that , overall, the country has developed a complex institutional environment, which is shaped by the existence of various institutions and regulations governing innovative activities.Conclusion. The Institutional support for innovative development in Ukraine has significant deficiencies, manifested in contradictions, insufficient identification of subjects and objects of the innovation process, and inadequate resource allocation. The problem significantly inhibits the innovative development of territorial economic systems, and at some point makes it impossible. Strategies and management of the national innovation system remain fragmented, relatively ineffective and insufficiently coordinated. There is no clear division of roles and responsibilities, including financial ones, among different government bodies. More than half of the adopted innovative programs did not receive funding due to the lack of corresponding allocations in the state budget. Priority is given to the Annual Budget Law compared to the previous financial commitments defined in program documents.

Do Trade and Financial Cooperation Improve Environmentally Sustainable Development: A Distinction Between de facto and de jure Globalization.

The adoption of growth strategies based on foreign trade, especially in the previous century when liberal policies began to dominate, is one of the main reasons for the increase in output and indirectly for environmental concerns. On the other hand, there are complex claims about the environmental effects of liberal policies and thus of globalization. This study intends to analyze the effects of global collaborations involving 11 transition economies that have completed the transition process on the environmentally sustainable development of these nations. In this direction, the effects of financial and commercial globalization indices on carbon emissions are investigated. The distinctions of globalization are used to distinguish the consequences of the two types of globalization. In doing so, the de facto and de jure indicator distinctions of globalization are used to differentiate the consequences of two types of globalization. In addition, the effects of real GDP, energy efficiency, and use of renewable energy on environmental pollution are dissected. For the main purpose of the study, the CS-ARDL estimation technique that allows cross-sectional dependency among observed countries is used to separate the short and long-run influences of explanatory variables. In addition, CCE-MG estimator is used for robustness check. According to the empirical findings, the economic growth and increasing energy intensity increases carbon emissions, but the increase in renewable energy consumption improves environmental quality. Furthermore, trade globalization does not have a significant impact on the environment in the context of globalization. On the other hand, the increase in de facto and de jure financial globalization indices results in an increase in carbon emissions, but de jure financial globalization causes more environmental damage. The harmful impact of de jure financial globalization on environmental quality suggests that the decreasing investment restrictions and international investment agreements of transition countries have been implemented in a manner that facilitates the relocation of investments from pollution-intensive industries to these countries.

The Development of Renewable Energy in Mineral Resource Clusters—The Case of the Siberian Federal District

This article presents a study of the specific features and development factors of renewable energy in macro-regions that combine extractive and industrial clusters with rural, sparsely populated areas. While in some countries—leaders in energy transition (the EU, China)—the growth of investments in solar, wind, and hydropower production is taking place systematically within the framework of an increasing number of national and international strategies and programs, in the Russian Federation there is a lack of renewable generation capacity. Particular difficulties are experienced in regions that, on the one hand, have a developed fuel and raw material complex and, therefore, fuel generation (which makes a significant contribution to global greenhouse gas emissions), and, on the other hand, many rural, sparsely populated areas that are in need of new distributed generation. The aim of the study is to analyze the factors of transition to renewable energy in mineral-resource regions, such as the Siberian Federal District (Siberia), as well as to identify measures to enhance their effectivity. The article shows the place of Siberia in the national energy system and considers the factors related to its energy transition in detail, e.g., the saturation with main powerlines, the control of air pollution caused by fuel energy facilities, its provision with fuel resources, investments in renewable energy, and ways of improving the health and well-being of the local population. Attention is drawn to the challenges and obstacles related to the development of renewable energy in the Siberian Federal District, associated, on the one hand, with Russia’s lagging behind other countries in the dynamics of energy transition, and on the other hand, with external and internal technological and investment restrictions.

FOREIGN AND PRIVATE DOMESTIC INVESTMENTS IN INDONESIA: CROWDING-IN OR CROWDING-OUT?

This study aims to investigate the empirical relationship between Foreign Direct Investment (FDI) to Private Domestic Investment (PDI) in Indonesia by using quarterly data from 1990Q2 to 2020Q2. It tests the crowding-in effect (which suggests complementarity between FDI and PDI) and crowding out effect (which indicates asubstitution effect between FDI and PDI) at the sectoral level. Our results imply the prevalence of the crowding-in effect in the primary and secondary sectors, with the tertiary sector exhibiting a neutral relationship. No rational reason was observed for the restriction of foreign investment. Therefore, it is suggested that Indonesia’s government needs to actively engage in FDI to increase the growth of new investments in the primary and secondary sectors of the domestic economy.

Measuring the effectiveness of ASEAN-5 initiatives from emerging market portfolio’s perspective

ASEAN nations started ASEAN Economic Community (AEC) initiatives, with the goal of improving the economic movement in ASEAN. The initiative is expected to lead to higher integration in the regions. The objective of this research was to study the integration of equity markets in the ASEAN-5 nations (Indonesia, Malaysia, Singapore, Thailand, and the Philippines), particularly those involving the Indonesian stock market (Indonesia’s economy is the largest in the region), and to analyze the diversification opportunities among ASEAN equity exchanges. Theoretically, capital markets in these nations should be more integrated following the introduction of AEC due to the integration of their economy and removal of several investment restrictions, including foreign ownership limitation. The data used was weekly data was used from January 2000 to June 2019, which was divided into four periods: pre-crisis, crisis, post-crisis and AEC. The methods used were DCC-GARCH, AG-DCC, volatility spillovers, Granger causality and diversification ratio from the mean-variance framework. The results showed robust evidence that there were still less integrated equity markets in ASEAN-5. The volatility spillover declined during the post-crisis period and was relatively stable during the AEC period. This result implies that ASEAN-5 initiatives have an impact on the capital markets. However, the implementation of the AEC is still far from successful since the equity exchanges have become less integrated than in the post-crisis period. Investors in Malaysia, Singapore, and the Philippines are encouraged to avoid investing heavily in Indonesia and Thailand equities during market turmoil since both are net contributors to volatility.

Investiranje u "Sondervermögen" fondove u Nemačkoj - analiza pravne strukture, regulatornih zahteva i performansi

This paper provides an analysis of "Sondervermögen fonds", or special investment funds, in Germany. These funds are structured as separate accounts, providing additional protection for investors, as their assets are legally separate from the assets of the fund manager. The Federal Financial Supervisory Authority (BaFin) regulates "Sondervermögen fonds", ensuring that they are managed responsibly and in compliance with the German Investment Code (Kapitalanlagegesetzbuch or KAGB). The KAGB sets out the legal framework for the operation of "Sondervermögen fonds" and covers various aspects, including authorization, investment restrictions, custody and administration of assets, supervision, and regulatory measures. The paper describes the legal structure, regulatory requirements, and performance of "Sondervermögen fonds", highlighting their advantages over other investment vehicles. "Sondervermögen fonds" have become a significant tool for investors in Germany and are expected to continue playing a crucial role in the country's investment landscape.

U.S. trade and investment restrictions: laudable but costly goals

U.S. Commerce Secretary Raimondo’s recent visit to China resulted in the announcement of a new “export control enforcement information exchange” between the United States and China. The laudable goal is to prevent China from using U.S. technology for military purposes against the United States or our allies. An information exchange may be a way to explain things to each other, but the fact remains that the export controls are indeed in place. China represents large revenue streams for three of the largest US chip producers—about 20% for Nvidia, 60% for Qualcomm, and 20-30% for Intel. If these U.S. companies cannot license or export to China, then their revenue streams will decrease, and that can translate into smaller margins, less hiring, and less spending on research and development. U.S. officials have been coordinating with other countries to ensure they participate actively in the strategy. Without coordination among key suppliers, China will circumvent U.S. export controls and access the U.S. technologies from another source. Export controls do not guarantee China won’t advance on its own. Last week Huawei released a smartphone that reportedly comes with 5G capabilities. Time will tell if these chips can be produced in high volume and at reasonable cost. The technology is still generations behind market leaders like Taiwan Semiconductor Manufacturing, but it would still represent a big step forward for China’s chipmakers. Last year Nicholas Burns, the U.S. ambassador to China, said that U.S.-China ties are at their lowest moment since 1972. Several U.S. officials have visited China in an effort to ease tensions. Secretary of Commerce Gina Raimondo is the fourth U.S. cabinet-level official to visit since June. Secretary of State Anthony Blinken, Secretary of Treasury Janet Yellen, and Climate Envoy John Kerry visited earlier this year. Efforts to ease tensions are welcome. Many U.S. businesses and agricultural producers that do business with China are worried that one of their largest markets is at risk.

Optimal sizing of hybrid system through particle swarm optimization for rural areas in Iraq

In today’s modern world, any community anywhere has the right to have access to a basic level of electricity. It is with this in mind that efforts are being made to provide electric power to even the most remote locations. Solar and wind energy are examples of renewable energy sources that are both clean and versatile. For a distant rural school in south-eastern Iraq, this research presents Particle Swarm Optimization (PSO) to reduce the Cost of Energy (COE) according to maximum dependability of Hybrid Renewable Energy System (HRES), by utilizing an integrated electrical generation system. The suggested hybrid system consists of PV, WT, and BT, all of which are subject to a certain investment restriction. Results showed that, the optimal sizing of the Number of Photovoltaics (NPV) equal to (9), Number of Wind turbines (NWT) equal to (6), Number of the batteries (NBT) of (29), Cost of energy (0.536 US$/kwh), Loss power supply probability (0.091 %), reliability (99.909 %) and renewable factors (100 %) with (59 %) PV penetration, and (41 %) WT penetration. As a result, the use of the hybrid system is justified from a technological, economic, and humanitarian standpoint.

Crowdfunding regulation in USA

The article discusses the provisions of the current crowdfunding legislation of the United States of America in order to isolate the features of the relevant local legal regulation. The acts and regulations governing the main common forms of crowdfunding, in particular the Jumpstart Our Business Startups Act (JOBS), The Securities Act of 1933, are considered, and the scope of their regulation is indicated. There are government agencies that directly or indirectly carry out regulatory functions in relation to the area under consideration, including the Consumer Financial Protection Bureau (CFPB), the Federal Trade Commission (FTC), the United States Department of Justice, Securities and Exchange Commission (SEC). The main requirements for participants in the crowdfunding services market, the rules for admitting participants to the relevant market, as well as applicable investment restrictions are given. It is noted that despite the existence of federal crowdfunding regulation, individual states enact their own crowdfunding regulatory provisions.

Development of Risk Management Mechanism and the System of Risk Metrics to Evaluate and Enhance the Long-Term Orientation of the Strategies of Non-Financial Companies

Companies that are performing innovation-focused strategies or experiencing digital transformation are exposed to significant long-term risks. The untimely and inefficient management of these risks leads to the destruction of the company’s value and calls into question its survival. This is often underpinned by companies following strategic management with a short-term horizon. Such “strategic myopia” prevents timely identification and treatment of strategic risks and destroys value due to physical and intellectual capital investment restrictions. However, the existing mechanisms of setting up risk management architecture neither addresses the lengths of the horizon and the alignment of the horizon with the strategic objectives, state of the environment and stakeholder expectations nor provides the tools for evaluating the horizon of the firm’s strategy. Moreover, existing systems of evaluating short-termism rely only on financial and governance metrics and do not address environmental and social factors. We closed these gaps and developed a strategic risk-controlling mechanisms to set up the risk management architecture that expanded “conventional” risk management analysis and addressed the “strategic myopia”. We also worked out the critical tool of the mechanism—the system of key risk metrics (SKRI) aimed at assessing the degree of a company’s following of long-term strategic orientation. Finally, we tested it on a sample of Russian non-financial companies. Testing results revealed a strong and positive correlation between the management’s decision to follow a long-term strategic focus and the growth of companies’ long-term value (measured by economic value added (EVA)). SKRI can be utilized in strategic risk controlling to assess the company’s propensity to follow a short-term horizon, evaluate its ability to maintain sustainable value creation, and develop recommendations to stakeholders to expand its strategic focus.

Trustee investment: ethical investing for charities

In his recent judgment in Butler-Sloss & Ors v Charity Commission & Anor,1 Michael Green J opens with the rhetorical question: ‘Should charities, whose principal purposes are environmental protection and improvement and the relief of poverty, be able to adopt an investment policy that excludes many potential investments because the trustees consider that they conflict with their charitable purposes?’2 The same question, albeit in the different context of apartheid South Africa, was posed in Harries v Church Commissions,3 known generally as the Bishop of Oxford case. That judgment set out how trustees should approach the question of whether, in fact, there was a conflict between an investment and the charity’s purposes. Broadly, the court took a narrow approach, referring to cases of cancer charities not investing in tobacco or the Quakers not investing in armament. The judgment in the Bishop of Oxford went on to provide guidance on how the trustee should proceed if and when there is an actual conflict. The resulting investment restrictions or exclusions should be similarly narrow. This was because of the need for diversification, which is central to modern portfolio theory, which trustees are expected to follow.4 Too many investment restrictions and exclusions, for ethical reasons, would or might impact on diversification and thus investment performance. Ultimately maximization of financial returns was the purpose for the investment power.

Bond covenants and investment policy

AbstractI provide evidence that covenants in bond indentures affect firms’ investment policies outside of covenant violations. After controlling for the self‐selectivity of covenant inclusion, I find that firms decrease (increase) capital expenditure after issuing bonds with investment (financing) restrictions. Firms that are more financially constrained or overinvesting are the most affected by investment restrictions, whereas only underinvesting firms see a positive effect from financing restrictions. My results provide empirical evidence that bond covenants help mitigate agency problems related to investment distortions, and especially that covenants restricting financing activities can alleviate the underinvestment problem.