Single Legal Entity Research Articles

Features of management decisions in enforcement agencies

The article examines the features of managerial decision-making in such public authorities as enforcement agencies. The author considers management decisions in enforcement agencies from the point of view of the phonomena of their legal status, in particular, as a tool for ensuring the enforcement of an authoritative decision of a judge, judicial authority, other public authority, official in relation to a single legal entity: a citizen, an organization, a public authority. This proves the importance of the role of management decisions in ensuring human and civil rights as the highest value, authoritative publicly significant decisions on the scale of the entire state. Adhering to a broad interpretation of the definitions of the concepts of “public administration”, “act”, the author comes to the conclusion that the management decision — this is a process that requires formalization, and which permeates the entire activity of the enforcement authority, in particular and mainly, illustrating the process of enforcement proceedings, asserts that a management decision accompanies it from the moment of receipt of the enforcement document to its completion, says that as long as the state exists, it will need tools for the enforcement of authority decisions, and therefore in a management decision. According to the author, a legally significant managerial decision of the enforcement body, its official, is based on a triad of conditions on the basis of which it is made: legislative, jurisdictional, competent; it takes the form of a legal act of management, the main of which is a resolution. In addition to resolutions, the author names such forms of management decisions as a request, a bilateral act and others, arguing his position from the point of view of a broad understanding of the term “act”. The author comes to the conclusion that the adoption of a managerial decision in enforcement proceedings is a vivid example of a combination of administrative procedure and specific administrative and jurisdictional proceedings, characteristic only of a bailiff conducting enforcement proceedings, in the unity of conditionally allocated types of administrative procedural activities.

ЕКОНОМІЧНА ЕФЕКТИВНІСТЬ В СИСТЕМІ АНТИКРИЗОВОГО УПРАВЛІННЯ ЛІСОВИМ ГОСПОДАРСТВОМ УКРАЇНИ

The presented material reveals the economic aspects of the effectiveness of the forest industry in the context of the formation of the anticrisis management system. Taking into account the fact that for the second year in a row a single specialized enterprise has been operating in the state forestry sector of Ukraine, the above summaries of its activities should be in demand in the expert and civil circles, as well as among foresterspractitioners. The author analyzed the financial results of the State Enterprise "Forests of Ukraine" for 2023, which have a positive tendency to increase - the company received a net profit in the amount of UAH 2.87 billion with a net income from the sale of products of UAH 23.06 billion, which is much higher than similar performance indicators for 2022 (during the period when more than 150 legal entities operated on the state forestry market). At the same time, it was noted that the largest share in the products sold by the enterprise is occupied by round lumber, firewood for industrial and non-industrial use (83.3%), which indicates an increase in felling volumes, compared to the same previous reporting period. The article presents the results of the analysis of the liquidity of the State Enterprise "Forests of Ukraine", which, despite the decrease in the coefficient of current and total liquidity, are approaching the normative value. That is, the indicator of business activity is increasing at the enterprise and its assets are more involved in financial and economic activity. At the same time, the author notes a negative decrease in the value of the ratio of provision of own current assets, which indicates a decline in the amount of own current assets for financing the total current assets of the enterprise. In general, in the context of ensuring the formation of the system of anti-crisis management of forestry in Ukraine, its reformation into a single legal entity contributed to increasing the profitability of the industry in the short term. The main directions of the formation of the system of anticrisis management of forestry in Ukraine are summarized.

Transformation of the ambulance service during the COVID-19 pandemic: correlation and thematic analysis

BACKGROUND: Ensuring the availability and quality of an ambulance service, including specialized ambulance, medical care, and specialized medical care in emergency and emergency form for fatal diseases, accidents, injuries, poisoning, and other conditions that require urgent medical intervention is an integral part of the national security system and one of the most important areas of health development in the Russian Federation. During the COVID-19 pandemic, such tasks appeared in the organization of emergency and emergency medical care for patients as a prompt distribution to inpatient departments, considering the severity of the patients condition, their covid status, and the availability of free places in medical organizations in a specific region, compliance with the waiting time prescribed for emergency medical care, and cutting off the non-core calls.
 AIM: To determine the optimal organizational structure of the ambulance service in the subject of the Russian Federation.
 MATERIALS AND METHODS: Collection and statistical processing of information regarding the work of ambulance services in a specific region were carried out. Correlation-thematic analysis using the Pearsons coefficient was performed.
 RESULTS: During the under covid period from 2016 to 2019, the overall mortality rate showed a clear downward trend. However, during the pandemic, even without taking into account the excess mortality, there was an increase, while, in 2020, when compared with 2019, the increase was 12%. Moreover, despite the increase in excess mortality in 2021 relative to that in 2020 by almost four times, the total mortality (excluding COVID) remained almost at the same level. In addition, it should be noted that, in regions where the ambulance service was represented by a single legal entity during the epidemic, excess mortality was lower in comparison with that in the regions where ambulance service was represented by departments within the Central District hospitals.
 CONCLUSION: The period of the coronavirus epidemic has largely transformed the healthcare system. The presence of a Unified Dispatching Service or a unified ambulance service in a region has a positive effect on the quality indicators of its healthcare system. In addition, the formation of new units in the structure of the ambulance service, such as a department for remote counseling, allows not only to ensure more accessibility to patients but also to effectively use the financial resources of an institution.

DLT-based enhancement of cross-border payment efficiency – a legal and regulatory perspective

ABSTRACT Financial law and regulation have, to date, assumed that regulated activities and functions are concentrated in a single legal entity responsible and accountable for operations and compliance. Even with regard to financial market infrastructure where the regulatory perspective acknowledges the need for interoperability of many entities as a system, each entity is subject to its own rules and regulations, and can thus meet its own compliance requirements independent of other system participants. The entity-focused regulatory paradigm is under pressure in the world of DLT-based payment arrangements where some ledgers, and thus the performance of the services as such, are distributed. DLT arrangements could provide an alternative to the traditional reliance on a mutually trusted central entity to transfer funds and enable the creation of new foundational infrastructures by distributing technical functions or linking existing systems. As such, we identify and outline concepts for use cases where DLT is potentially improving the efficiency of cross-border payments, namely a Best Execution DLT, a DLT application for a Network of Central Banks, a DLT as an AML/KYC utility, as well as DLT arrangements for an Identity Platform, a Small Payments Platform and, finally, an Interoperability Platform connecting multiple closed-loop and proprietary banking systems. Despite the wide-ranging interest in DLT-based payment systems, research so far has focused on technical concepts and lacked legal details. This article seeks to fill this gap by providing an initial analysis of the legal challenges related to DLT-based payment systems. From a legal perspective, the distribution of functions in DLTs comes with new risks created from the joint performance of services and functions as main characteristic of a distributed ledger, and the need for additional agreements, ongoing coordination across, and governance arrangements among the nodes. Further, in a cross-border context, multiple regulators and courts of various countries (asking for compliance with their own set of rules and regular reporting) will be involved. All of these must decide whether for compliance with any single rule they look at the DLT as a whole (herein called ‘the ledger perspective’) or each individual node (that is each institution participating in the DLT, herein called ‘the node perspective’). Moreover, financial and private law must provide for risk allocation, liability, responsibility and accountability for all legal obligations related to each function and activity. This article examines the extent to which the ledger perspective or the node perspective should prevail against the backdrop of a range of DLT use cases, resulting in policy recommendations for regulators. In this article, we propose the adoption of what we call an enabling approach for payment systems: ledger operators must specify in a Plan of Operations subject to regulatory approval to which rights and obligations the ledger perspective applies; in the absence of such a stipulation, rules apply based on the node perspective. However, for systemic risk controls, AML/CFT, data protection and governance, as well as DLT governance, we propose a reversed default rule in which the ledger perspective prevails in the absence of rules stipulating that the node perspective applies. Finally, in private law matters, we propose protecting consumers and SME clients through a standardised payment services contract structure, without mandating details.

Optimal pooling strategies under heterogeneous risk classes

PurposeThe purpose of this paper is to determine optimal pooling strategies from the perspective of an insurer's shareholders underlying a default probability driven premium loading and convex price-demand functions.Design/methodology/approachThe authors use an option pricing framework for normally distributed claims to analyze the net present value for different pooling strategies and contrast multiple risk pools structured as a single legal entity with the case of multiple legal entities. To achieve the net present value maximizing default probability, the insurer adjusts the underlying equity capital.FindingsThe authors show with the theoretical considerations and numerical examples that multiple risk pools with multiple legal entities are optimal if the equity capital must be decreased. An equity capital increase implies that multiple risk pools in a single legal entity are generally optimal. Moreover, a single risk pool for multiple risk classes improves in relation to multiple risk pools with multiple legal entities whenever the standard deviation of the underlying claims increases.Originality/valueThe authors extend previous research on risk pooling by introducing a default probability driven premium loading and a relation between the premium level and demand through a convex price-demand function.

Examination of communication processes in design-build project delivery in building construction

PurposeDesign-Build (D-B) is a project delivery method in which the owner procures both design and construction services in the same contract from a single legal entity. There is limited research on how communication among parties influences the success of D-B projects. The purpose of this paper is to examine D-B communication issues and provides effective practices on communication to improve D-B procurement processes in the USA.Design/methodology/approachThe research methodology for this study includes a comprehensive review of literature, survey questionnaire, and structured interviews. A questionnaire was developed to collect data from professionals with an average of 23 years of experience related to D-B procurement. Eight structured interviews were conducted to verify and validate the survey questionnaire results.FindingsThe results showed that the communication issues vary along with each phase of the D-B process. The primary communication practices influencing the success of D-B projects are: establishing clear points of contact; providing clear and understandable information among stakeholders during the D-B process; and the timely sharing of information to all stakeholders.Research limitations/implicationsThe chief limitation of this research is that the primary data were mostly opinions from experts although several empirical data were collected for cross-validation. This research did not consider the relationship of relevant contract clauses and communication issues.Practical implicationsThe findings from this paper will help professionals better understand the D-B procurement process.Originality/valueThis is one of the first attempts to discuss D-B communication issues in each different phase of a D-B project.

Is Fair Pricing Possible? An Analysis of Participating Life Insurance Portfolios

AbstractAbstractPooling individual customers with different inception dates into a single legal entity may generate intergenerational subsidies that are accentuated when the insurer has limited liability. This article aims to investigate whether an insurer can charge fair premiums while simultaneously ensuring identical levels of default risk—measured by the value of the default put option ratio—for all generations. The decision variables for achieving these goals are asset allocation and the amount of the insurer's equity capital. We propose an accounting framework where the insurer controls for insolvency positions annually after the first contract is issued. Additionally, a run‐off framework is developed where the insurer does not declare bankruptcy in case of an insolvency, but instead stops issuing new policies and runs the company until the assets are exhausted or the last policyholder is paid. We find that intergenerational subsidies and different levels of default risk per generation cannot be avoided whenever we face a positive default risk. © 2014 Wiley Periodicals, Inc. Jrl Fut Mark

Mergers and Acquisitions in CEE Countries

The world market economy is currently characterized by the tendency to globalization, which means that companies have to cooperate and tighten their relations. Companies working on the local market do not have many possibilities for development, so mergers and acquisitions (M&A also called consolidations or takeovers) can be a chance for them to cooperate with companies from all over the world. Consolidations (M&A) concern the aspect of management, corporate finance and corporate strategy dealing with buying, selling and merging of different companies. The main goal of mergers and acquisitions is usually an improvement of company performance and shareholder value over a long period of time. Mergers and acquisitions are similar corporate actions - they combine two previously separate companies into a single legal entity. In some cases, terming the combination a "merger" rather than an acquisition is done purely for political or marketing reasons. In a merger of two corporations, the shareholders usually have their shares in the old company exchanged for an equal number of shares in the merged entity.

Эффективность развития корпоративного управления отношениями собственности

The development of corporate relations within the framework of the enterprise that has a lot of different forms of property makes us search new ways to understand and analyze forms of joint ownership of the property. Specialized approach analyses the corporative governance system in terms of inner linkage formation within the single legal entity, in the first place — corporation, with the proviso that joint ownership of the property may take place in some different forms if the actual corporative standard and rules that have not only the economic and legal character, but also psychological, cultural and moral nature are observed. While the spacious approach considers the corporative management system as the base for government, regions, political parties and Homeowners Association control. Insertion of corporotivism within the state farm system will contribute to form the strong connection in the chain ‘government — business — society’.

КОНЦЕПЦИЯ СОЗДАНИЯ АВИАСТРОИТЕЛЬНОГО ХОЛДИНГА НА ОСНОВЕ РЕОРГАНИЗАЦИИ ГАК «АНТОНОВ»

В статье рассмотрена концепция реорганизации государственного авиационного концерна «Антонов», предусматривающая создание единого юридического лица с полной ответственностью за проектирование, разработку, сертификацию, производство и послепродажное обслуживание самолетов. Эффективная рыночная вертикально- интегрированная акционерная структура — авиастроительный холдинг обеспечит сохранение и дальнейшее развитие самолетостроительного бренда «Антонов», конкурентоспособность авиационной техники и услуг, увеличение доли продукции авиастроительных предприятий Украины на мировом рынке.

Harmonization between a Framework of Multilateral Approaches to Nuclear Fuel Cycle Facilities and Bilateral Nuclear Cooperation Agreements

One of primary challenges for ensuring effective and efficient functions of the multilateral nuclear approaches (MNA) to nuclear fuel cycle facilities is harmonization between a MNA framework and existing nuclear cooperation agreements (NCA). A method to achieve such harmonization is to construct a MNA framework with robust non-proliferation characteristics, in order to obtain supplier states’, especially the US’s prior consents for non-supplier states’ certain activities including spent fuel reprocessing, plutonium storages and retransfers of plutonium originated in NCAs. Such robust characteristics can be accomplished by MNA member states’ compliances with International Atomic Energy Agency (IAEA) Safeguards, regional safeguards agreements, international conventions, guidelines and recommendations on nuclear non-proliferation, nuclear security, safety, and export control. Those provisions are to be incorporated into an MNA founding agreement, as requirements to be MNA members in relation to NCAs. Furthermore, if an MNA facility is, (1) owned and operated jointly by all MNA member states, (2) able to conclude bilateral NCAs with non-MNA/supplier states as a single legal entity representing its all member states like an international organization, and (3) able to obtain necessary prior consents, stable, smooth, and timely supplies of nuclear fuel and services can be assured among MNA member states. In this paper, the authors will set out a general MNA framework and then apply it to a specific example of Europe Atomic Energy Community (EURATOM) and then consider its applicability to the Asian region, where an establishment of an MNA framework is expected to be explored.

Accountable to Whom? How Accountable Care Organizations Jeopardize Medicare Beneficiaries’ Health Information and Choice

While much academic scholarship about the Patient Protection and Affordable Care Act (“PPACA”) has focused upon the constitutionality of the so called “individual mandate,” this note explores an oft-overlooked portion of the PPACA: Accountable Care Organizations (“ACOs”). These organizations are authorized in the PPACA and allow health care providers to join together as a single legal entity in order to lower the cost of patient care and improve its quality for Medicare patients. They must meet quality benchmarks and control costs in order to be eligible for Medicare shared savings payments. Health care spending is projected to reach 30% of GDP within five years, a staggering number, and in the PPACA, Congress authorized ACOs in an effort to combat this growing problem. In late 2011, the Centers for Medicare and Medicaid Services published the final regulations for ACOs, with implementation to begin soon. This note explores ACOs from a beneficiary choice perspective, identifying the serious problems that they pose for beneficiary independence in medical decisions. Strikingly, ACOs do not allow beneficiaries to “opt out” from participating, as the decision is entirely supplier-side. The regulations also require relatively ineffective disclosure regimes to beneficiaries as to what ACOs are. After analyzing the regulations, the note identifies the concrete harms to beneficiary health and overall spending that arise from decreased beneficiary independence. The note also compares the ACOs privacy and opt out provisions to similar federal programs and explores recent court decisions as to whether ACOs are legally required to make detailed disclosures to beneficiaries. Drawing upon legal scholarship, the note concludes by offering novel solutions to the problems in the law, such as an “opt in” method and extending incentives to save costs to the beneficiaries themselves. Overall, this note is timely and useful, as it follows a “middle road” approach, attempting to improve the experiences of Medicare patients while also further limiting the legal liability of ACO providers.

Bank resolution and bail-ins in the context of bank groups

The theory of “bail-in” – the writing down of some of the creditors of a troubled financial institution in order to restore balance sheet solvency – is generally discussed as if the institution to be resolved were a single legal entity. This has been true for some of the institutions which have recently been subject to resolution, but for bail-in to be a useful tool it must be capable of being used to resolve the largest systemically important financial institutions. There are not single institutions, but complex groups. This article examines how bail-in techniques can be applied to a variety of different corporate structures, and concludes that although different types of corporate structures must be approached in different ways, there is no structure which renders a bail-in based approach to resolution unfeasible.

How to Reform Taxation of Corporate Groups in Europe

There are at least two reasons why taxation of corporate groups in Europe calls for reform. Firstly, differences are to be found between the tax treatment of a corporate group and that of a single legal entity. Secondly, foreign subsidiaries are often subject to different tax treatment than their domestic counterparts. Against this background the paper discusses the provisions currently prevailing in the taxation of corporate groups in Europe, in view of tax neutrality criteria and the requirements arising from European law. Furthermore, a number of reform proposals are developed and evaluated. In this context it is considered whether, and if so how, shortcomings in prevailing corporate tax law (interperiod loss offset, deduction of participation-related expenses) could be overcome. Moreover, the introduction of group taxation elements departing from the separate-entity theory, as well as the introduction of a consolidated scheme, are considered as potential reform proposals.

TO THE QUESTION OF THE INCORPORATION OF RAILWAY TRANSPORT OF UKRAINE

At the present stage of reforming the railway transport of Ukraine there are a few organizational and legal options proposed. Among them there are three essentially different approaches of forming the industry’s organizational structure that can be singled out: the traditional hierarchy; a many-level holding; and a highly centralized company (a company –single legal entity). The change of form of ownership is assumed to be realized by establishment of a joint-stock company with subsequent privatization. The form of government control will not include an economic management and will be directed, foremost, to the management and exploitation of infrastructures. The prospect of the stock sale at the market is thus inevitable. A question then arises: how to reserve the real management of enterprise and attract investments for development of the industry. One of the options of reforming the activities of railway transport of Ukraine has been thus proposed within the framework of the effective law and in the taxation scope of the country.

Dairy Herd Improvement: Meeting the Information Needs of the Dairy Industry Through a Totally Integrated Cooperative

The New Zealand dairy industry comprises 2.5million dairy cows milked in 14,600 herds. Dairy herd improvement has been restructured over the past 8 yr into a single legal entity operating as a farmer cooperative company. The cooperative encompasses the national milk records operations; a single dairy records processing center with an associated national animal database; the development, management, and calculation of sire and cow evaluations; and the deployment of scientific and technical resources for research and development of products and services. Also included is 1) the operation of the country's largest progeny-testing program, an artificial breeding, semen, and inseminating service commanding 80% of the artificial insemination market, and 2) the management of the industry's farm extension service. The extension service and the marginal cost of developing and operating sire and cow evaluations are funded through an industry grant. All other operations, including farm management information, are fully funded by users. The totally integrated operation allows cost-effective utilization of personnel, facilities, and equipment. Industry management information is made available to the industry, universities, and research organizations without charge.

A New Threat to Pregnant Women's Autonomy

Courts and legislatures are increasingly being called upon to restrict the autonomy of pregnant women by requiring them to behave in ways that others determine are best for the fetuses they carry. The state should not attempt to transform pregnant women into ideal baby-making machines. Pregnant women make decisions about their behavior in the context of the rest of their lives, with all the attendant complexities and pressures. Our interest in helping future children by improving prenatal care would best be furthered by helping pregnant women to make informed, less constrained choices, not by punishing women or depriving them of choices altogether.

Corporate Legal Guardianship: An Innovative Concept in Advocacy and Protective Services

Corporate Legal Guardianship: An Innovative Concept in Advocacy and Protective Services