Search results for "Union"
showing 10 items of 2069 documents
Flights Delay Compensation 261/2004: A Challenge for Airline Companies?
2020
Globally, the large number of tourists, insufficient number of pilots, strikes or high traffic at airports, have generated an increase in the number of delayed flights. In the first 6 months of 2018, it is estimated that around 4.5 million passengers (compared to 3.2 million passengers in the first semester of 2017) were affected by cancellations, delays and overbookings of flights, while the eligible value compensation is approaching 2 billion euros. For these events, principally attributable to the air carrier, certain passenger rights have been established at European Union level, detailed in EC Regulation No 261/2004 establishing common rules for passenger compensation and aid in the ca…
DEVELOPMENT OF LATVIAN AUTO ROADS AND ADMINISTRATIVE SYSTEM IMPROVEMENT
2012
Auto road sector in national economy, is a sector development of which, with appropriate funding, creates basis for other sector development and facilitates competitiveness of country in international market. The goal of auto road sector is auto road network maintenance and development, in order to contribute to the development of the whole country, increase of standards of living of inhabitants, as well as facilitate compliance of Latvian auto roads with the European Union requirements for auto road network. Effective resource utilization and investment attraction to auto road sector is determinant for favorable conditions to overcome economic crisis, structural changes in national econom…
Risk Taking by Banks in the Transition Countries
2007
The banking sectors of the transition countries have progressed remarkably in the last 15 years. In fact, banking in most transition countries has largely shaken off the traumas of the transition era. At the start of the 21st century banks in these countries look very much like banks elsewhere. That is, they are by no means problem free but they are struggling with the same issues as banks in other emerging market countries. There have been a surprisingly large number of studies that have told us about the performance of these banks but we know very little about their risk taking behaviour and how the banking environment influences it.
Financial and fiscal shocks in the great recession and recovery of the Spanish economy
2020
In this paper we develop and estimate a new Bayesian DSGE model for the Spanish economy that has been designed to evaluate different structural reforms. The small open economy model incorporates a banking sector, consumers and entrepreneurs who accumulate debt, and a rich fiscal structure and monopolistic competition in products and labor markets, for a country in a currency union, with no independent monetary policy. The model can be used to evaluate ex-ante and ex-post policies and structural reforms and to decompose the evolution of macroeconomic aggregates according to different shocks. In particular, we estimate the contribution of financial and fiscal shocks to both the crisis of the …
Credit Risk Disclosure Practices in the Annual Financial Reporting of Large Italian Banks
2019
Risk disclosure in banking is particularly important for the efficacy of market discipline, the assessment of bank performance, the efficiency of the financial market, and the overall stability of the financial system. The European banking union and the financial crisis have enhanced the strategic role of credit risk disclosure in banking. The topic of this chapter is the evaluation of credit risk disclosure practices in banks’ annual financial reporting. The empirical research is conducted on a sample of ten large Italian banks. The authors employ content analysis and provide a hybrid scoring model for the assessment of credit risk disclosure. The chapter provides empirical findings which …
Stakeholder Value in European Savings Banks
2000
In the European banking literature there appears to be a paucity of empirical research on the competitive performance of savings banks. A few broad (‘seminal’) studies, of European savings banks have been published in recent years however.1 This chapter aims to produce some follow-up evidence focussing on one of the key aspects of bank management today (stakeholder value).
Business Angel Investments: Risks and Opportunities
2015
Abstract For the last few years the need of improving the access to finance for the companies, especially SME's (small and middle enterprises), has been on the agenda in European Union. As long as the traditional financing such as bank loans became more complex to attract, the development of alternative investment, like seed and start-up capital investments, crowd funding, venture capital and Business angels, became a bold topic. Moreover, there is an opinion that development of alternative investment might be seen as a ground for boosting economic activity and entrepreneurship development. Even though a lot of various studies have been done on the evaluation and description of alternative …
OS ECJ-TF 1/2020 on the General Court Decisions of 24 September 2019 in The Netherlands v. Commission (Starbucks) (Joined Cases C-760/15 and T-636/16…
2020
This article provides a comprehensive exame of the decisions of the EU General Court in the cases The Netherlands v. Commission (Starbucks) (Joined Cases C-760/15 and T-636/16) (hereinafter Starbucks NL) and Luxembourg v. Commission (Fiat Finance and Trade) (Joined Cases T-755/15 and T-759/15) (hereinafter Fiat), decided on 24 September 2019. These are the first in a series of expected decisions concerning the legality of the European Commission's decisions considering certain transfer pricing rulings granted by Member States to multinational enterprises (hereinafter MNEs) to constitute State aid. The GC reached different verdicts in the two cases. Whereas in Starbucks NL it annulled the Co…
Alternative Investment Fund Managers Directive and its Impact on Malta’s Financial Service Industry
2016
The introduction of the Directive on Alternative Investment Fund Managers (AIFM Directive 2011/61/EU) in 2013 means a radical transformation of the EU regulatory landscape for the whole alternative investment fund industry. Taking into account the growing meaning of the alternative investment fund industry in Europe, the aim of the paper is to assess the impact the Directive on Alternative Investment Fund Managers (AIFMD) will have on the Alternative Investment Fund Managers (AIFMs) managing Alternative Investment Funds (AIFs) in the EU. The research is based on the case of Malta, which is a quickly growing financial centre. The main findings are based on an analysis of questionnaire respon…
An example of creative accounting in public sector: The private financing of infrastructures in Spain
2008
Abstract This paper analyses some proposals for private financing of public works having emerged in Spain in recent years. We show that all the new financing methods assessed are incorrectly named as “private”, for the payments are finally made by the Government by means of its budgetary resources. A deferral of accounting and budgetary recognition of these transactions, together with a false disclosure in financial statements of the debt connected with the projects, are the main reporting consequences of the new funding methods. In short, it is a clear example of “creative accounting” with the aim of meeting the convergence criteria imposed by the European Union.