The most recent developments in the legal framework for corporate governance increasingly focus on the monitoring role of shareholders and, more specifically, on their engagement with investee companies. These developments aim at reducing agency problems along the investment chain by enhancing equity investors' oversight and asset managers' accountability.
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Christopher Teichmann and Lothar Wolff
Shareholders are to a large extent investing in companies that are not governed by their own jurisdiction. Consequently, the enforcement of shareholders’ duties arising from national law frequently involves a cross-border element. This means that within the European Union, state measures regulating and enforcing shareholder duties will have to be assessed in the light of primary EU law, which affects practically all transnational economic activities in the Common Market.
Christian A. Witting
There is intense debate in the European Union and beyond about the current responsibilities and potential liabilities of shareholders. This chapter argues for greater attention to be paid to the design of a liability regime that incen¬tivises all participants in corporate endeavours to take appropriate measures to avoid the causation of personal injuries. The appropriate liability regime should incentivise shareholders to undertake their statutorily assigned roles in the governance of investee companies - namely, through making proper appointments to corporate boards and undertaking proper monitoring of corporate risk-imposition. The chapter argues that the only incentive that is likely to ensure that shareholders do their part is a residual personal liability for unsatisfied personal injury claims.
In the past decades of international legal thought, the defining role of bindingness has increasingly been approached with scepticism. It is less and less construed as the exclusive genetic code that provides the instructions for the identification and autonomous development of international legal discourses as international lawyers have sought to emancipate themselves from their own genetic heritage. Since the second half of the twentieth century, many international lawyers have come to feel that international legal discourses ought no longer to be structured and developed around the dichotomy between the ‘legally binding’ and the ‘legally nonbinding’. Their emancipatory moves have arguably brought about refreshing dynamism and excitement in international legal thought. And yet, as this chapter argues, bindingness has proved resilient. After recalling the modern understandings and ontological functions of bindingness in international legal discourses, a few observations are formulated on the emancipatory experiments found in recent international legal thought. The chapter ends with some remarks on the resilience of the idea of bindingness as a result of the anxiety and suspicion that has accompanied attempts to alter the genetic code of the discipline.
Benjamin J. Muller
What is the biometric border? How did it emerge and to what extent have biometric technologies changed borders and the experience and articulation of the bodies that cross them? Although the use of biometrics in border security and visa and mobility management are presented as enabling verification and authentication of political identity, deeper trends towards what for lack of a better term we might refer to as a ‘biometric state’ are part of this story. It is as much about the increasing interoperability and interchangeability of border security and identity management tactics that biometrics promises, as it is about proliferating and enhancing sovereign power as global commerce and mobility challenge the state’s resilience. Referred to as emergency or exception, biometric borders are instrumental facilitators in the proliferation and permanence of this discretionary sovereign power.
While immigration detention has attracted a growing amount of critical attention, alternatives to immigration detention have largely gone unnoticed. This chapter starts to fill this gap by analysing a particular type of alternative to detention known as ‘community detention’. Building on debates about the uses and limitations of biopolitical theory in border studies, the author critically analyses the phenomenon of community detention to explore the nature of the exception in the governance of borders. The phrase embodied borders is used to account for the location and negotiation of state borders at the site of the migrant body. This raises significant conceptual challenges for the traditional definition of the state as a political authority bound by territory. In the chapter the author confirms yet renegotiates the nature of the exception in contemporary border policies.
Mary Gilmartin and Anna-Kaisa Kuusisto-Arponen
In this chapter the authors discuss critical geographies of migration through a focus on two key sites: the border and the body. They outline critical approaches to the study of borders, which include discussions of specific borders (European Union, USA–Mexico, detention sites). They also detail the effects of the hierarchization of migrant bodies, and elaborate on this through a discussion of migrant experiences at work. The authors argue for the importance of bringing together geopolitical and biopolitical approaches to the critical geographies of migration, in a way that emphasizes embodied migrant practices. The chapter concludes by highlighting some ways in which approaches to the critical geographies of migration could be further developed.
Evolving Disputes, Expanding Options
Edited by Truong T. Tran, John B. Welfield and Thuy T. Le
Mark B. Houston, Christopher P. Blocker and Daniel J. Flint
This study explores the meaning of relationships for business buyers and demonstrates their often under-represented humanity as social and symbolic interactionist actors when buyers are viewed as richly complex individuals (just like consumers) and not simply as representatives of an organization. Buyers’ lived experiences unfold in a context and language that differs from a consumer context, as would be expected. Yet, the consumer insights as revealed through social psychological and psychological lenses persist within the institutional structures of industrial buying. Narratives illustrate how buyers develop meaning across their constant strivings to journey with suppliers toward envisioned destinations. Relationship journeying and related themes facilitate a deeper understanding of buyers’ experiences, identity projects, and ongoing efforts to construct coherent self-narratives in their work lives.
Chapter 2 focuses on the reliability of CRAs, since this has been questioned following the mis-evaluation of the default risk attaching to certain financial products—such as subprime mortgages and derivatives—that adversely affected the stability of securities markets. The CRAs have become major players in the financial markets yet their reputations have been tarnished by certain assessments issued during the 2007–09 financial crisis. This chapter provides evidence into aspects such as: (1) the motivation of CRAs to issue solicited or unsolicited ratings; (2) the discretion of CRAs to bring into play evaluation models and to control the treatment of information; and (3) the assessment of rating agencies’ responsibility. The results are interpreted with regard to the standard of rating activity, evaluating positive and negative effects of adopted regulation. This analysis offers significant implications with regard to an applicable normative framework. There is therefore a clear need to regulate the practice of the highly influential, though at times inaccurate, ratings of these agencies.