Market Law Research Articles

The Intention to Use Innovative Compliance Application for Thai-Listed Companies

This study explores the intention to use innovative compliance applications among Thai-listed companies, focusing on a novel technology introduced to companies listed on the Stock Exchange of Thailand (SET). The research employs the Technology Acceptance Model (TAM) as its theoretical foundation, utilizing a quantitative approach. Data from 360 capital market law compliance officers in Thai public companies listed on the SET was analyzed using structural equation modeling. The study identifies four key factors impacting user satisfaction and intention to use the application: perceived ease of use, perceived usefulness, trust, and innovation quality. Results reveal significant relationships between innovation quality, user satisfaction, trust, and the intention to use the application. Findings demonstrate the connection between TAM variables and technology adoption in the legal sector, particularly for capital market law compliance officers. Innovation quality, user satisfaction, and trust emerge as the most influential factors, in that order, affecting the intention to use the application. This research contributes to understanding user perceptions and intentions regarding compliance software, potentially guiding future developments in regulatory technology for Thai-listed companies.

State Policies Targeting Patient Brokering and Deceptive Marketing of Substance Use Disorder Treatment.

To characterize state laws targeting patient brokering and deceptive marketing of substance use disorder (SUD) treatment. Patient brokering and deceptive marketing of SUD treatment leads to poor outcomes for individuals with SUD, including relapse- or overdose-related hospitalizations, ED visits, or death. In response, several states within the United States have passed laws targeting unethical practices of SUD treatment in recent years. The context in which these laws were passed has not been previously described. The extent to which states engaged in recovery residence regulation that also pass patient brokering and deceptive marketing laws is unknown. We conducted a descriptive study and identified state laws relating to patient brokering and deceptive marketing that were enacted and effective as of December 31, 2022. Using a model state law for addressing unethical SUD treatment practices as a guide, we developed a taxonomy to describe the laws' elements, including covered entities, prohibited activities, and penalties. We used descriptive statistics to characterize variation across current laws. All patient brokering laws explicitly mention referrals to SUD treatment facilities, and most specify that both individuals and facilities are prohibited from paying, receiving, or soliciting referrals in exchange for fees or commissions. All deceptive marketing laws prohibit making false or misleading statements about the nature of services provided. Beyond these common features, there is wide variability in the degree to which states specifically prohibit other patient brokering and deceptive marketing activities (e.g., indirect offerings, lead generation, or kickback schemes involving laboratories). State policies targeting patient brokering and deceptive marketing may be useful for preventing instances of unethical SUD treatment practices. We constructed a taxonomy to characterize elements of patient brokering and deceptive marketing laws and facilitate future evaluations of their effectiveness.

The Protection of Intra-EU Investments: Putting the EU’s Rule of Law to the Test

With the 2018 Achmea ruling, the European Court of Justice declared investment arbitration in the intra-EU setting to be inadmissible. As a result, the Member States have cancelled more than 190 bilateral investment protection treaties between themselves. Critics fear a high level of legal uncertainty for intra-EU investments. The EU Commission, on the other hand, believes that the existing law of the internal market provides ‘adequate and effective protection’ for such investments without further ado. Both sides invoke the rule of law. After an overview of the developments, individual elements of the protection of investments within the EU, namely the rights of investors, the balance between them and public interests, the legal means available and the question of compensation, are analysed comparatively. In the end, it emerges that both positions can lay claim to different elements of the rule of law. The rule of law does not require maintaining investment protection with bilateral treaties and investor- state arbitration. However, it is questionable whether the existing law in the internal market does adequately protect investments in the European Union. With the abolition of traditional international investment protection, the European Union faces major challenges with regard to the further improvement of the rule of law, the importance of which goes far beyond the issue of investment protection.

Violations of Vietnamese laws related to the online marketing of breastmilk substitutes: Detections using a virtual violations detector.

Breastfeeding rates in Vietnam, and globally, remain suboptimal. A major contributor to this is the aggressive marketing of commercial milk formulas (CMF), mainly through online media. The Vietnamese Government has implemented legal measures to limit CMF marketing, but these have been difficult to enforce, because of complex online environments. We aimed to quantify the extent and nature of online violations and contradictions in various Vietnamese laws related CMF marketing over 12 months in 2022. Using a cross-sectional study design, we used an artificial intelligence-enabled virtual violations detector (VIVID) to monitor official websites and social media pages of 25 breastmilk substitute (BMS) merchandise and distributors, every day for 12 months in 2022. Data were summarised descriptively. We detected more than 3000 online advertisements that violated or contradicted the intent of Vietnamese laws, involving almost 7000 violations of various articles within these laws (average 9.5 violations per day). More than 700 detections were related to CMF products being registered as "supplementary foods" or similar, thereby circumventing Vietnamese CMF marketing laws, because they are not registered as "BMS products. We demonstrate the need to strengthen the design, monitoring and enforcement of existing Vietnamese laws to eliminate mothers" exposure to the exploitative digital marketing of CMF. By turning a highly resource-intensive task into one that is, automatedrequiring substantially less resources, our study represents the most comprehensive in Vietnam and internationally on the extent and nature of the online marketing of BMS. VIVID can be applied worldwide to hold industry accountable for the inappropriate marketing of CMF.

Legal analysis of the functioning, organisation and management of modern health resorts and medical spa care

On the surface, it would seem that the operation of a health resort commune does not differ from the majority of local authorities in Poland that do not have health resorts in their area and its activities can be subordinated to the market law of supply and demand. It would seem that it is the health resort gminas that are particularly privileged entities, endowed by nature with unique therapeutic raw materials, unique landscape, clean air and high forest cover, and being the proverbial apple of the sovereign's (the State's) eye, they have versatile development opportunities. A health resort municipality is a municipality whose area or part thereof has been granted the status of a health resort in accordance with the procedure set out in the Act on Health Resort Treatment, Health Resorts and Areas of Health Resort Protection and on Health Resort Municipalities of 28 July 2005. A health resort is an area where spa treatment is carried out, separated for the purpose of utilising and protecting the natural medicinal resources located in its area, which has been granted the status of a health resort. It follows from these definitions that a health resort is a limited area of the territory of a municipality, carrying out a specific activity such as spa treatment.

Strategi Berinvestasi terhadap Keberhasilan Investasi Saham Syariah di Pasar Modal Syariah

Stocks and the Indonesian capital market coexisted in Indonesia in 1912, when the Indonesian capital market was first established. An Islamic regulation master named Abdurrahman Isa contends that stock trading exchanges are permitted in religion, including shares gave by banking organizations, where a portion of the exercises are revenue based credit. This is based on the circumstances of Muslims, who, in his opinion, are in a dhorurat state. This study made use of literature research, which uses information from books and other sources to investigate the method for putting into practice investment in sharia stocks as a tool for economic improvement. The English word investment, which means to plant, was adopted from the British language. According to the Dictionary of Capital Market and Financial Terms, "investment" refers to putting money or capital into a business with the intention of earning a profit. The Capital Market Law regulates the sharia capital market, which is a capital market that does not violate sharia law. In this instance, the Capital Market and Financial Institutions Supervisory Agency (Bapepam-LK) continues to oversee the sharia capital market. The fundamental difference between the sharia capital market and the conventional capital market is that the sharia capital market must adhere to sharia law in all transaction mechanisms and issuers traded in it. In other words, there is no significant difference between the two markets.

Judicial Authority in EU Internal Market Law: Implications for the Balance of Competences and Powers, by Vilija Ve?lyvyte.( Oxford: Hart Publishing, 2022.)

Judicial Authority in EU Internal Market Law: Implications for the Balance of Competences and Powers, by Vilija Ve?lyvyte.( Oxford: Hart Publishing, 2022.)

Tinjauan Yuridis dalam Pasar Modal: Analisis Tahapan Initial Public Offering (Ipo)

In today's competitive business era, entrepreneurs are faced with the challenge of growing their businesses in an increasingly competitive environment. One of the main strategies for growth is business expansion, which often requires additional funding. Internal funding is often insufficient, so many companies turn to external sources of funds, such as through an Initial Public Offering (IPO). IPOs are defined in Law No. 8/1995 on Capital Markets and offer various benefits, including increased share ownership by individual investors, expansion of product distribution, and long-term investor support. However, some listed companies choose not to list their shares on the Indonesia Stock Exchange, a decision that complies with the Capital Market Law. A company can be classified as a public company if it meets certain criteria, including the number of shareholders and minimum paid-up capital. While not listing on the stock exchange may have its own benefits and drawbacks, this decision has significant implications for the company's operations. This study explains the dynamics and implications of various funding strategies in the current business context, providing insights into the IPO decision and the choice not to list on the stock exchange.

Bonsai's Marketing Strategy Centers on Creating Customer Value

This paper contributes to a different marketing approach on how to describe value from the customer's perspective. This research examines value-based pricing by highlighting a customer-centric approach with a focus on customer value creation to explore what this literature can convey in achieving success. The research locus is the research object of the Jombang Bonsai Community FB community which has 16,645 members. with consideration: Members of the Jombang Bonsai Facebook Community Trust; Own a bonsai plant business; Join the community for at least 2 years. The qualitative approach carried out through the data analysis technique used is the Manual Data Analysis Procedure (MDAP), from the results of interviews accompanied by triangulation of sources and theories to produce findings on customer-centred approach marketing strategies including Price Formation: Product and Services, Authorization Use, Resource Access, Benefit Claim Rights, Buyer Type, Availability, Use, Results, Economic Success. As well as Mechanism Policies: Quantity, Price Formation, Price Conditions, Price Discrimination, Product Characteristics, Customer Identity, Transaction Forms, Market Laws.

Legal Protection for Notaries in the Backdoor Listing Process Based on Capital Market Law in Indonesia (Study of PT Pantai Indah Kapuk Dua Tbk)

Legal Protection for Notaries in the Backdoor Listing Process Based on Capital Market Law in Indonesia (Study of PT Pantai Indah Kapuk Dua Tbk)

Law and Regulation as Safeguards for Investors Against Crime in Capital Market Sector

As a country with potency in economic growth, Indonesia is supported by several essential sectors, and one of them is through the Capital Market. The capital market enables the growth acceleration for a company or country by providing the needed fund. At least, through this medium, there are reciprocal benefits obtained by both parties involved in the Capital Market: issuers with capital injections, and investors with dividends and price increases. Unfortunately, there are big risks that investors have to deal with in capital markets, and some of them are related to fraud, market manipulation and insider trading. The results of this research found that government has enacted regulations that protect investors' rights through the Capital Market Law and the Financial Services Authority Law. However, there are still weaknesses in this regulation, especially for types of crimes that are still not regulated in this regulation. Moreover, it is necessary to have sufficient prowess from the authorized institution, especially the Financial Services Authority (OJK), to resolve cases in accordance with the applicable law aiming to protect investors' rights.

Protection and Enforcement of Law Against Insider Trading Crimes in The Indonesian Capital Market

Criminal practices in the capital market are commonly known by the terminology insider trading, a long-standing crime that is not well-known to the public. Insider trading constitutes a legal violation as well as an ethical breach that can pose serious risks to market integrity and harm investors who do not have specific information access. This journal will explore the legal protection and enforcement framework that explains the Indonesian legal framework governing transactions in the capital market in an effort to protect the public from insider trading. Legal protection includes the enforcement of provisions found in laws, regulations, and supervisory mechanisms applied by financial authorities, which is essential to create a fair and efficient market. Therefore, understanding the effectiveness of existing laws and enforcement of rules is crucial to protecting the public from insider trading crimes. This journal is expected to provide knowledge to enhance and develop legal science, particularly related to the analysis of insider trading law enforcement in the capital market in Indonesia. This journal is hoped to provide input and recommendations for authorities and stakeholders involved in providing legal protection to the public for the enforcement of laws in accordance with the provisions of the Indonesian Capital Market Law.

The Role of Business Management in the Innovative Development of the Cultural Tourism and Education Industry

The Role of Business Management in the Innovative Development of the Cultural Tourism and Education Industry

ON SOME APPROACHES TO REGULATING DIGITAL ECOSYSTEMS

The dichotomy of development and regulation of digital ecosystems has attracted the attention of many theorists and practitioners over the past 10 years. The emergence and poorly regulated development of electronic platforms and ecosystems contributed to the formation of a new business model that did not fit into the coordinates of the legal institutions of the functioning of the traditional economy. In the process of their expansion, digital platforms have demonstrated a number of advantages over traditional business models, while simultaneously increasing their fundamental disadvantages. The article reveals the causes of the emergence and rapid development of digital ecosystems, the phenomenon of ecosystem's dependence. The pros and cons of ecosystem's functioning, the formation of their monopolistic essence, the violation of fundamental market laws, and the factors of their destructive influence on the modern economy, society, and consumers are analyzed. The main directions of activity of national regulators in the USA, the EU, and Russia are presented.

Juridical Implications of Regional Regulations on the Management of Land Management Rights that have been Incorporated in Public Companies

<em>Inbreng is a deposit of capital in forms other than money. BUMD Tbk. is a company whose capital is invested by the Regional Government Y in the form of Land Management Rights. This capital investment has been approved based on the Governor's Decree regarding Development Guidelines in the BUMD Tbk. Area, as well as giving BUMD Tbk. the right to provide recommendations on Land Management Rights. However, currently the Governor's Decree regarding Development Guidelines in the BUMD The Province of the Special Capital Region of Jakarta has the right to provide recommendations given by the Regional Government. As a result, BUMD Tbk. lost one of its income from providing recommendations. Apart from that, questions arise regarding the status of Land Management Rights which have become capital investments. Bearing in mind that BUMD Tbk. is a Public Company, BUMD This research will focus on Company Law and Capital Market Law. Especially according to the provisions of Financial Services Authority Regulation Number 42/POJK.04/2020 concerning Affiliate Transactions and Conflict of Interest Transactions and Financial Services Authority Regulation Number 17/POJK.04/2020 concerning Material Transactions and Changes in Business Activities</em>

Clothing as a sociocultural phenomenon (based on materials from modern China)

The object of the study is clothing as a sociocultural phenomenon, a product of material and spiritual cultures. The evolution of clothing is closely related to sociocultural changes in society. The subject of the study is the transformation of clothing in China under the influence of political, economic, social, and aesthetic factors after the beginning of Chinese economic reform and opening up policy. The significant changes have taken place in Chinese clothing, the main of which was the transition from a uniform style of clothing for the whole country to a variety of fashion and styles, as well as the revival of traditional clothing. The transformation in the style and production cycle of clothing in China is based on objective (technology development, market laws, global fashion trends) and subjective reasons (psychology, personal preferences and aesthetic tastes of consumers). There is always a concept behind the behavior in clothes, and the desire for beauty is the main driving force behind the development of clothing. The social psychology of imitation and difference contributes to the spread of fashion trends in clothing. The author's special contribution to the topic is a detailed examination of the impact on the transformation of clothing of political, economic, sociocultural, aesthetic factors, as well as cultural exchanges and folk traditions. The author traces the sequence of fashion trends in China in recent decades. Сontemporary changes in Chinese clothing culture are not limited to simply borrowing Western trends, but are accompanied by the emergence of postmodern ideas and the promotion of the globalization process, which leads not only to the technological and design enrichment of clothing characteristics in China, but also to the growth of cultural awareness and the revivalization of traditional and local cultures.

Editorial: Common Market Law Review Prize For Young Academics 2024

Editorial: Common Market Law Review Prize For Young Academics 2024

European administrative networks during times of crisis: Exploring the temporal development of the internal market network SOLVIT

AbstractEuropean administrative networks (EANs) are an increasingly prominent form of European Union (EU) governance. Although these networks are typically portrayed as important and flexible forms of organization, we lack knowledge of their temporal dimension, including their development in times of crisis. This paper provides a first analysis of network interaction as it unfolds before and during times of severe crisis for the EU internal market. Specifically, we examine interactions in the EU internal market network SOLVIT. This network offers member states both a formalized procedure for the bilateral resolution of cases of alleged misapplication of EU law, and an informal network for general discussions on internal market topics and SOLVIT‐related matters beyond specific case‐resolution. Based on unique three‐wave survey data, we develop a continuous‐time model (stochastic actor‐oriented model) to analyze the evolution of SOLVIT's informal interactions over time. In explaining these developments, we reflect on the importance of two crises: the exit of a central SOLVIT member (the United Kingdom), which drove informal interactions to a great extent, and COVID‐19, which led to great sudden uncertainty and challenges for the implementation of internal market law. Our results show that the network is remarkably stable and despite, or rather because of, these crises, has become denser over time.

NOVICE INVESTORS AND PROTECTION FROM SHORT SELLING CARRIED OUT BY SECURITIES BROKERS

Domestic investors in the capital market until the end of July 2023 reached 11.4 million, and the increase in investors is seen as a positive development. However, on the other hand, Verdi Ikhwan, Head of the Research Division at the Indonesia Stock Exchange (IDX), stated that the level of capital market literacy has decreased from 4.92% to 4.11%. Meanwhile, inclusion has increased from 1.55% to 5.19%. It was also found that the Indonesia Stock Exchange (IDX) imposed sanctions on two securities for conducting short selling transactions without the exchange's approval. These two securities are PT Reliance Sekuritas Indonesia Tbk. (RELI) and PT Valbury Sekuritas Indonesia. The literacy level significantly influences the choices of novice investors in their activities in the capital market, particularly those who use brokers in stock trading. In this research, two problem formulations are posed: "What are the Capital Market Crimes in Indonesia?" and "How is the Protection for Novice Investors Against Short Selling Conducted by Securities Brokers?" The research utilizes normative and descriptive-analytical research methods. The study concludes that prohibited capital market crimes according to the Capital Market Law (UUPM) include market manipulation, insider trading, front running, and short selling. The UUPM regulates prohibitions in the practice of capital market trading. It is essential to remember that these regulations align with the law's purpose of safeguarding public order established by official bodies

Bailout Investors Against Windows Dressing Emit in the Capital Markets Law from the Perception of Legal Protection

The capital market has an important role in the financial sector because it offers new alternatives for the business world to obtain sources of business financing in addition to adding new alternatives for investors to invest outside of banking and other forms of investment. However, investing in the capital market also has higher risks compared to investing in other fields. The Capital Markets Law regulates the issue of obligations to comply with the principle of openness and regulates the issue of consequences and responsibility for losses as well as criminal threats for capital market players who do not carry out the obligations of the principle of openness. The problem studied in this writing is legal protectionbailout investors againstWindows Dressing emitaccording to the Capital Markets Law. This writing was carried out using normative juridical methods. The writing approach uses a statutory approach. The data source used in this writing is a secondary data source which was then analyzed qualitatively. The results obtained in this research are that legal protection for investor bailouts is regulated in the Capital Markets Law Article 114 paragraph (1), Article 111 paragraph (2) letter b which requires issuers to provide compensation to investors who are harmed due to the issuer's errors or negligence.