Search results for "Discretion"
showing 10 items of 65 documents
From ‘Prisoner's Dilemma’ to Reluctance to Use Judicial Discretion: The Enemies of Cooperation in European Cross-Border Cases
2017
This article will focus on Articles 41–44 of the Recast European Insolvency Regulation (Regulation 2015/848) and the dynamic of cooperation and communication between courts and insolvency practitioners. Two main ideas will be maintained. The first is that cooperation requires a legal framework which is certain—otherwise, prescriptions imposing duties of cooperation and communication might produce ‘prisoner's dilemmas’ and, paradoxically, unwillingness to cooperate. The second idea is that prescriptions imposing duties of cooperation and communication have an intrinsic open texture—this characteristic ontologically requires courts and insolvency practitioners to make choices between differen…
Negotiations with a risk assessment tool: Standardized decision-making in the United States and the deprofessionalization thesis
2017
AbstractThis article focuses on the challenges of decision-making in child protection. Comparative studies show that standardized risk assessment tools predict future maltreatment more accurately than interpretative assessment. Despite a long tradition of research on statistical decision-making, few studies deal with how such instruments are used and integrated into professional decision-making practice, and – from a transnational perspective – how specific national regulations influence such instruments and decision-making at street level. The article discusses concerns about the fact that such classification systems might have a negative impact on professional discretion. Based on a mater…
Accounting for Emission Trading Schemes: A Still Open Debate
2014
AbstractEmission allowances form the common trading currency introduced by the European Emission Trading Scheme to cover the emission of greenhouse gases. This initiative forces companies to internalise environmental expenses, so that it has an impact on accounting practices. The aim of this note is to discuss some alternative views on how to record this economic transaction, which could help the International Accounting Standards Board to find an accepted proposal. Adopting a common approach would always be preferable to the current situation characterised by total discretion. Indeed relying on the business model as proposed by the Autorite des Normes Comptables and the European Financial …
On the Tail Risk of Cyberattacks in the Bitcoin Market
2020
In the era of digitalization, cryptocurrencies have become an alternative asset for both retail and institutional investors. While the new emerging digital ecosystem based on blockchain technology has been praised for offering plenty of advantages such as decentralization, discretion or increased efficiency in terms of faster settlements among others, investors need to be aware of new types of risks such as hacking incidents. In the 2011-2018 period, about 1.7 million unit of Bitcoin have been stolen corresponding to losses accumulating more than $655 million highlighting the societal impact of this criminal activity. The novel aspect of our study is that it employs a recently proposed appr…
Asset and Liability Management for Insurance Products with Minimum Guarantees: The UK Case
2006
Abstract Modern insurance products are becoming increasingly complex, offering various guarantees, surrender options and bonus provisions. A case in point are the with-profits insurance policies offered by UK insurers. While these policies have been offered in some form for centuries, in recent years their structure and management have become substantially more involved. The products are particularly complicated due to the wide discretion they afford insurers in determining the bonuses policyholders receive. In this paper, we study the problem of an insurance firm attempting to structure the portfolio underlying its with-profits fund. The resulting optimization problem, a non-linear program…
The Protection of the Right of Freedom on the European Union Level: The European Arrest Warrant and Non-custodial Pre Trial Measures. The Guideline o…
2012
“Protection of fundamental rights in particular must be central to the operation of the system:” this formula, found at the heart of the most recent official assessment of the EAW (2011), perfectly summarizes, in terms of political policy, the progressive shift of emphasis from efficiency and security towards the primacy of the protection of individual rights across the entire field of EU measures restricting individual liberty. The experience gained in terms of the principle of proportionality thus becomes a basic paradigm for the interpretation of the system in terms of applied law. The three levels through which the filter of proportionality has operated in the system of the EAW (multile…
IT-Sicherheit in medizinischen Netzen - aktuelle Probleme und Lösungsansätze
2000
Designers and users of medical networks have to face strong requirements for data protection and security. Professional discretion and data protection laws allow the transfer of or access to patient data only in a therapeutic context. These data should also be protected from the network provider. Patients should be safe from any harm by faulty data or buggy procedures. On the other hand the security of the most used software products gets worse and worse. The use of the internet endangers more and more the integrity of the user's computer. The security requirements can be met only through strict care in planning, building, and configuring the infrastructure. Some concrete recommendations an…
À la recherche du lien perdu entre caractéristiques des dirigeants et performance de la firme : gouvernance et latitude managériale
2008
Upper Echelons Theory and financial governance theory both postulate that CEOs have a determining influence on the performance with, however, a very significant difference concerning the influence of managerial discretion. For the first one, managerial discretion has a potentially positive influence on performance by enabling the managers' cognitive capacities to affect it, for the second one, a negative influence, insofar as it can lead to decisions conflicting with shareholders' interests. The objective of this article is, on the one hand, to compare the contents and the role of the managerial discretion concept within these two theoretical frameworks, on the other hand, to propose, in th…
Discretionary vs nondiscretionary in fiscal mechanism – non-automatic fiscal stabilisers vs automatic fiscal stabilisers
2015
The goal of the present study is to increase the intelligibility of macroeconomic phenomena triggered by governmental intervention in economy by means of fiscal policies. During cyclical movements, fiscal policy can play an important role in order to help stabilise the economy. But discretionary policy usually implies implementation lags and is not automatically reversed when economic conditions change. In contrast, automatic fiscal stabilisers (SFA) ensure a prompter, and self-correcting fiscal response. The present study aims to tackle the topic of discretionary vs nondiscretionary characteristic of fiscal stabilisers (SF). In this context, the scope of the research undertaking is to laun…
How best to measure discretionary fiscal policy? Assessing its impact on private spending
2013
We develop a novel empirical approach to assess the effect of discretionary fiscal policy on private spending consisting of three stages: 1) extract the discretionary component of fiscal policy by estimating a fiscal policy rule; 2) use the residuals of the first-stage regression to investigate the existence of crowding-in and/or crowding-out effects both in the short and the medium term; and 3) condition the response of private spending on a set of country characteristics. We find that an expansion in discretionary fiscal policy boosts growth in the short term, but is detrimental in the medium term. In addition, the empirical findings suggest that the effect of discretionary fiscal policy …