Academic literature on the topic 'Obligations and risks'
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Journal articles on the topic "Obligations and risks"
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Zivotofsky, Ari Z., and Alan B. Jotkowitz. "Fetal Risks and Religious Obligations." American Journal of Bioethics 16, no. 2 (February 2016): 28–30. http://dx.doi.org/10.1080/15265161.2015.1120808.
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Obolenskiy, V. "Russia in WTO: Obligations, Opportunities, Risks." World Economy and International Relations, no. 6 (2012): 59–69. http://dx.doi.org/10.20542/0131-2227-2012-6-59-69.
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Negotiations on Russia's membership in WTO lasted for 17 years. In this article the results of these negotiations, possible advantages and risks connected with WTO-membership are analyzed, following official proceedings and Russian press accounts.
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Velykanova, Maryna. "MINIMIZATION OF RISKS IN CONTRACTUAL OBLIGATIONS." New Ukrainian Law, no. 1 (2021): 5–13. http://dx.doi.org/10.51989/nul.2021.1.1.
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Bradshaw, Craig. "Briefing: Renewables obligations certificates – understanding risks." Proceedings of the Institution of Civil Engineers - Energy 166, no. 1 (February 2013): 5–6. http://dx.doi.org/10.1680/ener.11.00031.
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de Paor, Aisling. "Genetic Risks and Doctors’ Disclosure Obligations — Revisiting the Duty of Confidentiality." European Journal of Health Law 25, no. 4 (July 27, 2018): 365–88. http://dx.doi.org/10.1163/15718093-12252373.
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Abstract With developments in the field of genetics, new technologies such as genetic testing are fast emerging. Although offering unparalleled opportunities, these developments raise many ethical, legal and other issues. One challenge relates to the duty of confidentiality and disclosure obligations on doctors. Considering the familial nature of genetic information, doctors will increasingly have access to predictive health information, about individuals and individuals’ relatives. This article examines whether disclosure obligations on doctors should be expanded to encompass an obligation to disclose genetic risk to family members, and whether the exceptions to the duty of confidentiality should recognise genetic risk as potential harm. With recognition of the competing rights, the article considers the implications of recent case law in the United Kingdom, indicating a willingness to extend the duty of disclosure. This article argues that there is a case to be made for expanding disclosure obligations on doctors in certain circumstances.
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Na, Min Oh. "A study on the improvement Strategies for the Obligations and Roles of Workers in Preventing Industrial Accidents." Forum of Public Safety and Culture 25 (November 30, 2023): 249–59. http://dx.doi.org/10.52902/kjsc.2023.25.249.
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Workers play an important role in recognizing and preventing risks at work sites. However, the current Occupational Safety and Health Act does not provide rights and obligations commensurate with the worker's role as an industrial accident prevention agent. The study analyzed the regulations on workers' industrial accident prevention roles and obligations in major countries and presented the following implications to improve workers' duties and roles as subjects of industrial accident prevention.
First, the obligations of workers are specified: ① the duty to pay attention to the safety and health of others affected by their work performance (duty of care), ② the duty to work in accordance with training and instructions on safe work provided by the employer (obligation to comply), ③ reflects the obligation to report immediately upon discovery of an imminent risk of industrial accident (reporting obligation), ④ obligation to cooperate to identify the risks of the workplace and to select appropriate measures(duty of cooperation). Second, by limiting the scope of workers' obligations, it prevents comprehensive obligations from being imposed or the employer's obligations from being passed on to the employees. Third, there should be punishment provisions for workers' violation of their obligations, but punishment should be given for intentional and obvious violations, and the worker's violation of the law should not be interpreted as a reason to defend the employer's violation of the law. Fourth, judicial liability, such as disciplinary action and compensation for damages resulting from a violation of an employee's obligations, is limited to an appropriate scope considering the characteristics of the employment contract. Fifth, give workers the right to improve safety and health (right to participate, right to suggest, right to request improvement, right to report, etc.) and promote active activities.
I‘m expecting that by using the research results, future workers' participation in workplace safety and health improvement and industrial accident prevention activities will be promoted, and self-discipline based on the responsibility of industrial accident prevention subjects will be quickly established.
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Merkushina, S. I. "Entrepreneurial Risks in Criminal Law." Russian Journal of Legal Studies 4, no. 4 (December 15, 2017): 38–44. http://dx.doi.org/10.17816/rjls18268.
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The article deals with the notion of «ordinary entrepreneurial risk», the possibility of using it as a criterion for distinguishing civil liability for non-fulfillment of obligations and criminal liability for criminal acts involving non-fulfillment of contractual obligations, the possibility of applying this concept in the sphere of the right regulation of social relations arising in connection with the commission of crimes, the ratio of ordinary business risk and reasonable risk (art. 41 of the Criminal Code of the RF).
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Rep'ev, Artem. "Honorary rights and obligations: doctrine, practice, technology." Vestnik of the St. Petersburg University of the Ministry of Internal Affairs of Russia 2021, no. 1 (April 9, 2021): 26–36. http://dx.doi.org/10.35750/2071-8284-2021-1-26-36.
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The article is devoted to general theory analysis of legal categories «honorary rights» and « honorary obligations». The author puts forward and gives arguments to the hypothesis about the existence of a specific group of legal permissions and obligations which differ from other kinds of rights and legal obligations due to their peculiarities. Significant and informative consideration of «honorary rights» and «honorary obligations» both from the point of doctrine of law and historical and modern legislature as well as law enforcement practice was done. The purpose. To make up in the legal doctrine for the absence of complete idea of honorary rights and obligations as elements of the legal position of separate subjects having special legal status; reveal their characteristic features and define the risks conditioned to be abused. Methodology. Historical way of cognition, philological approach, empirical methods of comparison, descriptions, interpretations, theoretical methods of formal and dialectic logic; private-scientific methods, formal legal method, legal norms interpretation method. Results. Analysis of doctrinal sources of the Russian and International Law, jurisprudence historical landmarks, current normative legal acts, and law enforcement practice showed that honorary rights and obligations are of encouraging and stimulating nature, have an accessory character in relation to the basic opportunities and obligations of the subjects. On the basis of the establishing the elements of similarity and differentiation of honorary right with subjective right of the subject, honorary obligation with legal obligation on the whole, the aspects of their interactions and existing contradictions, an independent categorical and institutional character of honorary rights and obligations is proved, its specific qualities which differentiate
it from adjacent legal phenomena are specified. Conclusion. It is necessary to strictly differentiate the understanding and realization of honorary rights and obligations in the system of legislature and law enforcement practice by means of unification and concretization of law provisions using encouraging and stimulating instrumentation, justified and minimum usage of assessment notions and components (prominent merits, prestige, authority, etc.) that serve as the basis for receiving honorary rights and obligations, improving the legal status of subjects with regard to other participants of relation. The steps taken should contribute not only to the increasing the efficiency
of regulation of public relations through the system of legal encouragements, stimuli and advantages but decreasing discrimination and corruption risks, the opportunity of subjective discretion associated with granting similar additional opportunities.
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Stasiak, Jacek. "POLISH FINANCIAL MARKET IN 2016-2020 AND ITS RISKS." Globalization, the State and the Individual 30, no. 2 (December 30, 2022): 73–86. http://dx.doi.org/10.5604/01.3001.0016.2001.
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Proper functioning of the financial market possible through the provision of information on the situation of issuers, so it was pointed out how important are the information obligations arising from the specifics of the market to ensure equal access of investors to relevant information. Therefore, it was presented what should be the mode of providing information and defined information and the time of its disclosure. An important part of the Act are the provisions that impose obligations on investors, for example, in the form of disclosure of information on the state of shareholding, in addition, calls and other rights and obligations of shareholders of a public company are regulated.
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Bitca, Ion, and Sergiu Bivol. "Personal warranties given by the consumer." Vector European, no. 1 (April 2024): 5–9. http://dx.doi.org/10.52507/2345-1106.2024-1.01.
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The personal guarantees granted by the consumer, being consumption reports, contain provisions for the protection of the legal situation of the consumer, establishing rules of exception from the legal regime of common law in the matter of personal guarantees. Thus, in considering the guarantor's consumer quality, the legislator establishes a series of obligations for the professional creditor, intended to strengthen the consent of the guarantor consumer to assume the guarantee. Among these obligations we identify the obligation of the professional creditor to ensure that the consumer guarantor assumes the guarantee in full knowledge of the case; if it is proved that the professional knew that the guarantor had a relationship of trust between the debtor and the guarantor and did not request from the guarantor proof of receiving an independent consultation regarding the risks involved in assuming the guarantee, the respective contract may be revoked or canceled as the case may be. During the course of the contract, the professional creditor is obliged to inform the consumer guarantor annually about the amounts guaranteed from the main obligation, the interest or other ancillary obligations - art. 1665, para. 1, C. civil. In case of non-execution of the obligation by the debtor, the consumer guarantor will be obliged to pay the obligation in the amount existing at the time of assuming the guarantee.
Dissertations / Theses on the topic "Obligations and risks"
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Löhr, Sebastian [Verfasser]. "Essays on collateralized debt obligations and credit default swaps : dynamic correlation modeling, measuring systematic risk, and cross-sectional pricing of common risks / Sebastian Löhr." Hannover : Technische Informationsbibliothek und Universitätsbibliothek Hannover (TIB), 2013. http://d-nb.info/1041652135/34.
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Chossis, Jennifer. "Le refus du banquier." Thesis, Montpellier, 2015. http://www.theses.fr/2015MONTD040/document.
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L'activité bancaire comporte nécessairement certains risques. Or, face au risque, le refus possède fondamentalement une vertu protectrice et est source de sécurité. Parce que le banquier est le premier à s’exposer aux risques, il semble naturel que la matière bancaire soit dominée par un principe de liberté, liberté de contracter, liberté d'entreprendre, liberté de prendre des risques et, partant, liberté de refuser. Toutefois, une propension du banquier à se surprotéger se révèlerait nocive pour le public, le refus étant naturellement source d’exclusion économique et sociale. En effet, il est impossible de nier le caractère indispensable des services bancaires pour tous les acteurs de la société. La liberté de refus du banquier doit donc être tempérée par la recherche d’un équilibre entre sa propre protection et la protection de sa clientèle réelle ou potentielle. De cette recherched’équilibre résultera alors une restriction certaine mais délimitée de sa liberté de refus de sorte qu'il sera, dans certaines hypothèses, débiteur d'un devoir de ne pas refuser. Dès lors, la liberté demeure le principe auquel il est dérogé par exception.Pour autant, le banquier n'est pas seul à prendre des risques. En effet, les contrats bancaires comportent des risques supportés par les cocontractants mais également par leurs créanciers, pourtant tiers aux contrats. C’est pourquoi, les cocontractants, souvent moins rompus que le banquier aux risques inhérents aux opérations de banque, et les tiers, ignorant généralement l’existence de ces risques, méritent d'être protégés. La recherche de sécurité pourrait alors prendre la forme d'une obligation au refus à la charge du banquier. Or, toute obligation au refus porte une atteinte évidente aux libertés du banquier et de ses cocontractants que seule la protection de l'intérêt général est véritablement en mesure de justifier. Toutefois, s’il existe, en droit positif, des hypothèses obligeant le banquier à refuser certaines opérations trop risquées, il semble qu’une obligation au refus en matière de crédit soit difficile voire impossible à dégager. Du reste, une telle obligation, pour morale qu’elle paraisse, ne serait pas souhaitable en ce qu’elle pourrait avoir pour conséquence de porter atteinte aux intérêts qu’elle prétendrait protégerBanking Business is subject to specific risks. Against these risks, the banker’s refusal seems to be an adequate means of protection and security.Since the banker is the first to expose himself to those risks, it seems natural that banking law is governed by a principle of freedom: freedom of contract, entrepreneurial freedom, freedom to take risks and consequently freedom to refuse. However, a banker’s tendency to overprotect himself would turn out to be detrimental to the public as such refusal can be a source of social and economic exclusion. Indeed, it is absolutely impossible to deny how vital the banking services are for all society actors. The banker’s freedom of refusal shall therefore be tempered by the search for an appropriate balance between his own protection and his existing or potential customers’ protection. Thus, certain and defined limitations to the banker’s freedom of refusal should result from this search for balance so that, under certain circumstances, a duty not to refuse could be imposed on the banker. In any event, freedom remains the principle while exceptions may be justified.Furthermore, the banker is not the only one to take risks. Indeed, banking contracts involve risks borne by his co-contractors and by their creditors, even though they are third parties to the agreement. That is why the co-contractors, often less experienced than the banker regarding the risks attached to bank operations, as well as the third parties to the agreement who are unaware of the existence of such risks deserve in this respect to be protected. The search for security could take the form of a refusal obligation imposed on the banker. However, as any obligation of refusal infringes on the banker’s and his co-contractors’ freedom, only the protection of the general interest would actually be able to justify such infringement. Though, even if there are indisputable assumptions where such an obligation of refusal exist under positive law, it appears that a general obligation of refusal shall be difficult, if not impossible, to identify. Such an obligation, although deemed moral, is undesirable as it could result in affecting the interests it sought to protect
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Mage, Gwenaëlle. "La transmission de l'engagement personnel." Thesis, Université Clermont Auvergne (2021-...), 2022. http://www.theses.fr/2022UCFAD003.
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La transmission de l’engagement personnel, entendue comme la transmission des créances, dettes et positions contractuelles, révèle au plan fondamental une opposition entre les conceptions subjective et objective des obligations et des contrats qui n’a pas été réellement tranchée par l’ordonnance n° 2016-131 du 10 février 2016 portant réforme du droit des contrats, du régime général et de la preuve des obligations. Ce texte a consacré la transmission passive de l’engagement personnel, complétant un dispositif ancien et éprouvé de transmission des créances. Dans une optique de transmission, il pourrait être envisagé que l’engagement personnel soit appréhendé davantage pour sa valeur qu’en considération du lien qui en est la source. Pourtant, l’étude du régime juridique de la transmission révèle que la conception subjective du rapport d’obligation irrigue toujours la matière. Cette difficile conciliation des approches emporte pour première conséquence que cette transmission originale de rapports interpersonnels se trouve dénuée de fondement juridique établi. Elle engendre, en seconde conséquence, des obstacles injustifiés à la transmission, spécialement lorsque l’engagement est transmis dans sa forme passive. En toutes hypothèses, le critère de l’intuitus personae subjectif, retenu en droit positif, se dresse comme un obstacle à dépasser. En réponse à ces enjeux, la mise en évidence d’une propriété objectivée, dite « liée », exprimant les droits d’une partie sur son engagement, autorise cette transmission tout en fournissant un régime juridique plus adapté. Ce régime fondé sur le risque réel de l’opération projetée, s’émancipe de l’attache à la personne. L’analyse unitaire proposée fournit donc une assise technique au phénomène qui emprunte au droit des biens tout en accueillant la singularité des liens interpersonnelsThe transmission of personal commitment, considered as the transmission of receivables, debts and contractual positions, fundamentally reveals an opposition between the subjective and the objective conceptions of obligations and contracts that was not finally determined by the ordinance n°2016-131 from the 10th, February 2016, reforming contract law, general scheme and proof of obligations. The scope of this text included passive personal commitment, completing an old, tried and proven mechanism for the transmission of receivables. When it comes to transmission, one could consider that the personal commitment could be viewed more for its value than only considering the relationship. However, the study of the transmission legal regime reveals that the subjective conception of the personal link is still topical. The first consequence of this difficult accommodation between approaches is that this original transmission of interpersonal relationships is devoid of any established legal basis. As a second consequence, it creates unjustified obstacles to the transmission, especially when the commitment is transmitted in its passive form. In all circumstances, the subjective intuitus personae criterion, adopted under positive law, stands as a barrier that must be overcome. In response to these challenges, the demonstration of an objectified property, called "linked", expressing the rights of a party over its commitment, allows this transmission while providing a more adequate legal regime. This regime, based on the real risk of the planned operation, emancipate itself from the personal relationship. Therefore, the proposed unitary analysis provides a technical basis to the phenomenon, borrowing from property law while integrating the singularity of interpersonal relationships
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Peretyatkin, Vladislav. "Valuation and risk analysis of collateralised debt obligations." Thesis, Imperial College London, 2011. http://hdl.handle.net/10044/1/11861.
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Ekman, Melker, and Andreas Tibell. "Obligationens risker : En studie om kreditrisk, likviditetsrisk och ränterisk för företagsobligationer på den svenska marknaden." Thesis, Umeå universitet, Företagsekonomi, 2019. http://urn.kb.se/resolve?urn=urn:nbn:se:umu:diva-160904.
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När en företagsobligation och en statsobligation har samma löptid och har en skillnad i avkastning, så kallas denna skillnad för kreditspread. Ett känt koncept inom finansvärlden är att risk har en stark koppling till avkastning. När emittenten av obligationen inte kan återbetala överenskommen utdelning eller principiellt lånebelopp så klassas detta som en betalningsinställelse. Eftersom det generellt sett är större risk för en betalningsinställelse för ett företag än för en stat, så vill investerare bli kompenserade för den extra risken de tar sig an. Den totala risken som utgör skillnaden i avkastning kan i sin tur delas upp i flera olika riskkomponenter. Syftet med vår uppsats är att undersöka ifall likviditetsrisk, ränterisk och kreditrisk har en effekt på kreditspread för företagsobligationer på den svenska marknaden. Med detta som bakgrund så har vi samlat in historiska data på förfallna obligationer under de senaste 10 åren via databaserna Thomson Reuter Datastream och Eikon. Vi har sedan laddat ned obligationsspecifika egenskaper i form av finansiella nyckeltal för samtliga obligationer. Dessa nyckeltal har valts för att till bästa förmåga representera och mäta respektive risk. Exempelvis så har vi använt oss av nyckeltalet “bid-ask-spread” för att mäta likviditetsrisk hos en obligation. För att undersöka sambandet mellan våra valda risker och kreditspread så genomförde vi ett hypotestest. Vi skapade en nollhypotes och en alternativhypotes som vi sedan testade med hjälp av en multipel regression. Nollhypotes (H0): Studiens utvalda variabler har inte en effekt på den kreditspread hos svenska företagsobligationer Alternativhypotes (Ha): Studiens utvalda variabler har en effekt på den kreditspread hos svenska företagsobligationer Slutsatsen var att vi kunde statistiskt påvisa ett positivt samband mellan riskernas storlek och storleken på obligationens kreditspread. Detta gjordes både för riskerna var för sig och för modellen när den blev testad i sin helhet. Den bakomliggande teorin bakom variablerna kunde därför antas vara korrekt även vid applicering på svenska marknaden för det senaste decenniet. Vi har som ambition att denna studie skall kunna agera som ett verktyg för fundamental analys för framtida investerare samt vidare studier inom området obligationer på svenska marknaden
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Pizzetta, Scarlett. "Entreprises et droit international humanitaire." Electronic Thesis or Diss., Université Côte d'Azur, 2024. http://www.theses.fr/2024COAZ0004.
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La mondialisation de l'économie de marché ouvre de nouveaux horizons aux entreprises commerciales en étant source de croissance, d'emplois et de prospérité, même si elle engendre aussi des risques, en particulier lorsque les entreprises développent des activités dans des zones en proie à des conflits armés, internationaux ou internes, ou dans des territoires occupés.Les entreprises sont incitées par la société civile et les organisations internationales à tenir de plus en plus compte du droit relatif aux droits de l'homme, qui s'applique tant en période de conflit armé que de paix.Le droit international humanitaire, alors même qu'il est spécifiquement conçu pour régir des situations de conflit armé, qu'il a des effets importants pour elles lorsqu'elles opèrent dans des pays qui connaissent de telles situations, leur est moins connu et fait moins l'objet d'attention par la doctrine, notamment francophone.Un certain nombre de contentieux récents ont soulevé des interrogations en la matière, tant sur le plan de la protection des entreprises par le corpus du droit international humanitaire, que sur celui de la soumission des entreprises à ces règles.Cette thèse analyse l'applicabilité du droit international humanitaire aux entreprises commerciales, à leurs salariés, leurs biens, leurs activités qui peuvent être à la fois des cibles, des victimes, des participants des conflits armés, voire des auteurs de violations du droit international humanitaire, soulevant des interrogations relatives à l'adaptation et la pertinence du DIH à ces entitésGlobalization of market economy offers new opportunities for business enterprises by being a source of growth, jobs and prosperity, although it can also generate risks, especially when they develop activities in areas plagued by armed conflicts, either international or internal, and in occupied territories.Enterprises are being encouraged by civil society and international organizations to increasingly consider human rights law, which applies whether in armed conflict or peace condition.International humanitarian law, even though it is specifically designed to handle situations of armed conflict, and since it has important effects for business enterprises when they operate in countries experiencing such situations, is less known to them and less subject of attention by the doctrine, especially the French-speaking one.A number of recent disputes have raised questions in this area, both in terms of business enterprises by the corpus of international humanitarian law, and about enterprises submission to these rules.This thesis analyses the applicability of international humanitarian law to business enterprises, their employees, their properties, their activities which may be at the same time targets, victims, participants in armed conflicts, even perpetrators of international humanitarian law violations, raising questions relating to the adaptation and relevance of IHL to these entities
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Demont, Bruno. "L'aléa dans le contrat d'assurance." Thesis, Paris 2, 2012. http://www.theses.fr/2012PA020112.
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L’aléa, véritable « cœur » du contrat d’assurance, ne finit pas de susciter les interrogations lorsqu’il s’agit de préciser plus techniquement son rôle, tout comme sa raison d’être. En première ligne se situe naturellement le débat relatif à la qualification des formes contemporaines d’assurance vie : ce dernier, haut lieu de controverse doctrinale depuis des années, ne s’est toujours pas apaisé malgré l’impressionnant nombre d’études consacrées au sujet. En parallèle, le thème de l’aléa dans les contrats fait également l’objet d’un vif regain d’intérêt, s’invitant dans les colloques et les ouvrages les plus récents. Plus que jamais, les notions de contrat d’assurance et de contrat aléatoire se retrouvent donc au cœur de la polémique. Et cette dernière peut aller bon train, tant le débat reste enfermé dans cette idée courante qu’un contrat est un acte nécessairement créateur d’obligations. Ainsi, l’on s’attache bien souvent à mettre en évidence le déséquilibre des obligations des parties (caractéristique des contrats aléatoires) avant de s’interroger sur son existence dans le contrat d’assurance. Mais cette approche obligationnelle de la structure contractuelle est-elle véritablement pertinente ? Ne devrait-on pas, au contraire, concevoir plus largement les effets de l’acte juridique, et consacrer juridiquement une idée somme toute assez commune dans le langage courant des praticiens : celle d’un transfert de risque ? A l’approche obligationnelle classique, exclusivement focalisée sur l’analyse des prestations des parties (paiement de la prime par le souscripteur ; règlement du sinistre voire couverture du risque par l’assureur), se substituerait ainsi une approche réelle, davantage axée sur le transfert de risque opéré entre les parties. Cette approche réelle, à bien des égards séduisante par rapport à l’approche obligationnelle, permettrait ainsi de porter – entre autres – un regard différent sur la problématique inhérente aux formes contemporaines d’assurance vieHazard is well known for being at the heart of the insurance contract. Nonetheless, it does not stop raising questions about its precise role and raison d’être. Firstly, the debate deals with the qualification of contemporary forms of life insurance; Mecca of doctrinal controversy for years, it still remains topical in spite of the impressive number of studies. Meanwhile, contingency is of intense interest in civil contract law, as well as subject to recent seminars and latest books. More than ever, the notions of insurance contract and of aleatory contract appear as being the “core” issues of a controversy which keeps going well, because the debate may be limited by the idea that a contract is necessarily an act that creates obligations. Thus, the imbalance between the parties’ obligations - characteristic of aleatory contracts – is often highlighted before questioning its existence in the insurance contract. However, it may be wondered as whether to know if such an “obligational” approach of the contract is truly relevant. On the contrary, shouldn’t we consider the effects of the contract through a wider point of view, in order to admit – legally – a quite common idea in everyday language: the transfer of risk? Unlike the obligational approach which is solely focused on the performances of both parties (premium paid by the taker; compensation paid out of the claim or even risk covered by the insurer), that “real” approach would be more focused on the risk that is transferred between the contracting parties. Such a real approach, which seems to be highly more attractive than the obligational one, would offer - among others - a different perspective within the debate that is inherent to the contemporary forms of life insurance
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Iscanoglu, Cekic Aysegul. "Pricing And Hedging Of Constant Proportion Debt Obligations." Phd thesis, METU, 2011. http://etd.lib.metu.edu.tr/upload/12613112/index.pdf.
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A Constant Proportion Debt Obligation is a credit derivative
which has been introduced to generate a surplus return over
a riskless market return. The surplus payments should be
obtained by synthetically investing in a risky asset (such as a credit index) and using a linear leverage strategy which is capped for bounding the risk.
In this thesis, we investigate two approaches for investigation of constant proportion debt obligations. First, we search for
an optimal leverage strategy which minimises the mean-square distance between the final payment and the final wealth of constant proportion debt obligation by the use of optimal control methods. We show that the optimal leverage function for constant proportion debt obligations in a mean-square sense coincides with the one used in practice for geometric type diffusion processes. However, the optimal strategy will lead to a shortfall for some cases.
The second approach of this thesis is to develop a pricing formula for constant proportion debt obligations. To do so, we consider both the early defaults and the default on the final payoff features of constant proportion debt obligations. We observe that a constant proportion debt obligation can be modelled as a barrier option with rebate. In this respect, given the knowledge on barrier options, the pricing equation is derived for a particular leverage strategy.
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Rajani, Asif Ali Kabiruddin. "Subprime Crisis, Systematic Risk and Arbitrage." Master's thesis, Instituto Superior de Economia e Gestão, 2011. http://hdl.handle.net/10400.5/4320.
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Mestrado em Matemática FinanceiraThe financial market turmoil of 2007 and 2008 was the most severe recession seen after the Great Depression. The economic momentum, previous to the crisis, created a strong demand for AAA securities that was not available on single bond market. This motivated arrangers to issue high volumes of structured finance securities, collateralized by subprime Residential Mortgage-Backed Securities. Most of the AAA investors based their choices uniquely based on Credit Rating Agencies' assessment that taken into account Probabilities of Default or Expected Losses but mispriced the Systematic Risk. This fact created arbitrage opportunities for Asset-Backed Securities (ABS) and ABS Collateralized Debt Obligations (ABS CDO) arrangers. They exploited it by issuing securities with high levels of Systematic Risk. In this work I run ABS and ABS CDO simulations to exemplify how these instruments were structured to explore these features. To quantify the extent of the mispricing I compare a structured security with a single bond with the same rating. I use the results to exemplify the potential gains obtained by the arranger by taking advantage of the investor's blindness concerning Systematic Risk. I also approach other Structured Finance risks as parameter sensitivity and biased asset pool parameters in rating models.
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Gómez, Portilla Karoll. "Essays on Bond Return Predictability and Liquidity Risk." Thesis, Toulouse 1, 2015. http://www.theses.fr/2015TOU10001/document.
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S’il existe de l’information intéressante pour prévoir les prix des titres du Trésor au fil du temps, comment peut-on utiliser cette information pour améliorer le rapport risque/rendement de l’investisseur et la modélisation de la structure par terme ? Cette thèse a pour objectif de répondre à cette question. Le premier chapitre analyse le rôle prédictif des mesures alternatives de la prime de liquidité des TIPS (Treasury Inflation-Protected Securities) par rapport aux titres du Trésor pour des rendements en excès des obligations gouvernementales. Les résultats montrent que la prime de liquidité prévoit des rendements en excès positifs (négatifs) pour les TIPS (Treasury nominales). Je trouve, également, que le pouvoir de prévision hors échantillon de la liquidité des rendements en excès des Treasury nominales paraît avoir été guidé par les évènements de la crise financière récente. Par contre, je trouve empiriquement qu’il y a également une capacité de prévision des rendements en excès des TIPS hors échantillon pendant les périodes normales aussi bien que pour les mauvaises périodes.Dans le deuxième chapitre, j’examine si la prime de liquidité des TIPS peut être considérée comme un facteur dit unspanned (c’est-à-dire dont la valeur n’est pas une combinaison linéaire de la courbe des rendements) pour prévoir les rendements des obligations, mais qu’elle n’est pas nécessairement spanned par la courbe des taux des États Unis. Je considère un modèle affine et gaussien de la structure par terme d'obligations à coupon zéro du Trésor américain pour l’ensemble des Treasuries and TIPS, avec un facteur unspanned : le risque de liquidité. Dans ce modèle, le facteur de liquidité est contraint d’affecter seulement les rendements de coupe transversale, mais il permet de déterminer les primes de risque des obligations. L’évidence empirique suggère que le facteur de liquidité n’affecte pas la dynamique des obligations en vertu de la probabilité risque-neutre, mais qu’il affecte cette dynamique sous la mesure historique. Par conséquent, l'information contenue dans la courbe de rendement s’avère insuffisante pour caractériser complètement la variation du prix du risque de courbure. Dans le troisième chapitre, j’estime, par des méthodes non paramétriques, le choix de portefeuille optimal d’obligations pour un agent représentatif qui agit d’une façon optimale par rapport à son utilité espérée sur la période suivante, à partir du signal de liquidité observé ex ante. Considérant les différentes mesures de liquidité, je trouve que le différentiel de liquidité entre les obligations nominales et les TIPS paraît être un facteur significatif de choix du portefeuille en obligations du gouvernement des États Unis. En effet, l’allocation conditionnelle en actifs risqués décroit avec la détérioration des conditions de liquidité du marché, et l’effet de liquidité du marché diminue avec l’horizon d’investissement. Je trouve également que la prévisibilité de rendement des obligations se traduit par une meilleure allocation et performance aussi bien intra que hors échantillonIf there is valuable information for predicting bond prices over time, how can we use this information to improve investor’s risk-return trade-off and term structure modelling? This thesis aims at answering this question. The first chapter discusses the predictive role of alternative measures of the liquidity premium of TIPS relative to Treasury bonds for government excess bond returns. Results show that the liquidity premium predicts positive (negative) TIPS (nominal Treasury) excess returns. I also find that the out-of sample forecasting power of liquidity for nominal Treasury excess returns appears to have been addressed by the events during the recent financial crisis. By contrast, I have evidence of out-of- sample forecasting ability during both normal and bad times for TIPS’ excess returns. In the second chapter, I explore whether or not the TIPS liquidity premium can be considered as an unspanned factor that forecast bond returns, but that is not necessarily spanned by the U.S. yield curve. I consider a joint Gaussian affine term structure model for zero-coupon U.S. Treasury and TIPS bonds, with an unspanned factor: liquidity risk. In the model, the liquidity factor is restricted to affect only the cross-section of yields but it is allowed to determine the bond risk premia. I present empirical evidence suggesting that the liquidity factor does not affect the dynamic of bonds under the pricing measure, but does affect them under the historical measure. Consequently, the information contained in the yield curve appears to be insufficient to completely characterize the variation in the price of curvature risk. In the third chapter, I estimate the non-parametric optimal bond portfolio choice of a representative agent that acts optimally with respect to his/her expected utility one period forward, provided that he/she observes the ex-ante liquidity signal. Considering alternative measures of liquidity, I find that the liquidity differential between nominal and TIPS bonds appears to be a significant determinant of the portfolio allocation to U.S. government bonds. In fact, conditional allocations in risky assets decrease as market liquidity conditions worsen, and the effect of market liquidity decreases with the investment horizon. I also find that the bond return predictability translates into improved in-sample and out-of-sample asset allocation and performance
Books on the topic "Obligations and risks"
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Renberg, Werner. The bond fund advisor: Understanding the risks and rewards. Chicago, Ill: Dearborn Financial Pub., 1990.
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Franke, Günter. Default risk sharing between banks and markets: The contribution of collateralized debt obligations. Cambridge, Mass: National Bureau of Economic Research, 2005.
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Franke, Guenter. Default risk sharing between banks and markets: The contribution of collateralized debt obligations. Cambridge, MA: National Bureau of Economic Research, 2005.
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Cavaleri, Olivier. La gestion des risques d'un portefeuille de dériveés sur obligations suisses. Bern: Verlag Paul Haupt, 1999.
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Chan-Lau, Jorge A. Idiosyncratic and systemic risk in the european corporate sector: A CDO perspective. [Washington, D.C.]: International Monetary Fund, Monetary and Financial Systems Dept. and Asia Pacific Dept., 2006.
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Office, General Accounting. International environment: Kuwaiti oil fires- chronic health risks unknown but assessments are under way : briefing report to the Chairman, Legislation and National Security Subcommittee, Committee on Government Operations, House of Representatives. Washington, D.C: The Office, 1992.
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Fender, Ingo. CDO rating methodology: Some thoughts on model risk and its implications. Basel, Switzerland: Bank for International Settlements, 2004.
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Allentuck, Andrew. Bonds for Canadians: How to build wealth and lower risk in your portfolio. Mississauga, Ont: John Wiley and Sons Canada, 2006.
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Fedorov, Petr. Occupational Safety and Health. 6th ed. ru: Publishing Center RIOR, 2024. http://dx.doi.org/10.29039/01956-6.
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The manual allows the reader to quickly navigate the regulations on labor protection; check whether all labor protection requirements are observed in the organization, and if necessary, study these requirements in detail and consider examples of the practical application of regulations. The use of the information contained in the manual on obligations in the field of labor protection, legal risks, and available opportunities for financing labor protection measures opens up opportunities for the employer to increase the efficiency of production activities. The book is supplied with an electronic appendix with forms of all documents necessary for the organization of labor protection. The publication is intended for employees of personnel services, labor protection specialists, heads of structural divisions of enterprises; it can be used by students of various specialties and directions for training in educational disciplines related to labor protection and HRM.
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Andrichenko, Lyudmila, A. Postnikov, L. Vasil'eva, Zh Gaunova, E. Nikitina, and Inna Plyugina. Reform of the organization of public power: the main directions of implementation. ru: INFRA-M Academic Publishing LLC., 2021. http://dx.doi.org/10.12737/1839416.
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The monograph examines topical issues of reforming the organization of public power in our country in connection with the adoption in 2020 of the Law on Amendments to the Constitution of the Russian Federation. The logic of changes in the organization of public power and the directions of concretization of constitutional values, taking into account the laws of the development of the constitutional system of Russia, are revealed.
The most significant characteristics of the updated model of interaction of federal public authorities in accordance with the principle of separation of powers are identified, the trends of constitutional transformations in the spheres of federal relations and local self-government, ensuring the fulfillment by public authorities of international obligations of the Russian Federation are investigated. Particular attention is paid to the development of the legal mechanism of interaction between public authorities and civil society.
The authors of the book take into account the results of legislative support for the reform of public power in 2020-2021, a forecast assessment of the implementation of the relevant constitutional and legislative novelties is given, including taking into account the existing legal risks. Solutions are proposed to a number of legal issues of legislative regulation of public power, which can increase the efficiency of its functioning.
For researchers, teachers, students and postgraduates, deputies of representative authorities, state and municipal employees, as well as anyone interested in constitutional law issues.
Book chapters on the topic "Obligations and risks"
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Simmig, Christina Anikó. "The International Obligations in the Context of Natural Hazards." In Of Risks and Normative Responses, 83–142. Cham: Springer Nature Switzerland, 2023. http://dx.doi.org/10.1007/978-3-031-41104-5_3.
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Borselli, Angelo. "Insurance in M&A Transactions." In AIDA Europe Research Series on Insurance Law and Regulation, 199–215. Cham: Springer International Publishing, 2022. http://dx.doi.org/10.1007/978-3-030-85817-9_9.
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AbstractMergers and acquisitions (M&A) involve transactional risks, no matter how extensive and accurate the due diligence process is. This raises the question as to how transacting parties can be protected. Representations and warranties and indemnification provisions as well as escrow requirements, typically included in the acquisition agreement, may often prove to be inefficient and inadequate to this end. When negotiating these terms, transacting parties clearly have contrasting interests, and there could also be cases, especially in public company transactions or distressed sales, where the buyer may have no effective remedies against the seller after the closing.To overcome problems associated with seller’s indemnities, transacting parties increasingly avail themselves of some innovative insurance products, generally known under the catch-all name of “transactional insurance,” that provide coverage for risks arising out of extraordinary corporate transactions, including risks related to breaches of representations and warranties, tax liabilities, pending or potential litigation and other contingent liabilities.This chapter explores the role that insurance can play in managing transactional risk, discussing whether it may represent an efficient alternative to more traditional, contractual solutions like indemnity and escrow requirements. The discussion suggests that transactional insurance can serve as an effective risk-transfer tool in M&A, which may act as a supplement or also a substitute for seller indemnity obligations. By spreading transactional risk, insurance can facilitate M&A transactions and enhance the overall social benefit, providing economic security at a fraction of the cost that it would take for transacting parties to protect themselves. No problems of adverse selection or moral hazard peculiar to the M&A context seem to arise and a steadily increasing use of insurance in M&A can be expected.
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Zharkova, Yuliya S., Elena I. Brichka, Elena A. Chumachenko, Tatyana N. Mikhnenko, and Elena N. Karpova. "Risks of Non-performance of Contractual Obligations in the Public Procurement System and Methods of Their Assessment." In Lecture Notes in Networks and Systems, 2082–89. Cham: Springer International Publishing, 2021. http://dx.doi.org/10.1007/978-3-030-69415-9_228.
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de Koker, Louis. "The FATF’s Combating of Financing of Proliferation Standards: Private Sector Implementation Challenges." In Financial Crime and the Law, 123–66. Cham: Springer Nature Switzerland, 2024. http://dx.doi.org/10.1007/978-3-031-59543-1_6.
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AbstractThe financial integrity standards of the Financial Action Task Force (FATF) create a framework that enlists financial institutions and designated businesses and professions. The effectiveness of the standards is highly dependent on the effectiveness of the measures employed by these regulated institutions. This chapter considers the challenges faced by regulated institutions to comply with the 2020 amendments to the FATF’s standards aimed at combating the financing of the proliferation of weapons of mass destruction. The FATF first adopted proliferation financing (PF) measures in 2012. These support the targeted financial sanctions (TFS) measures of the United Nations Security Council (UNSC), i.e. the UNSC’s sanctions against named individuals and entities linked to proliferation programs of Iran and the Democratic People’s Republic of Korea. The discussion reflects initial perspectives gained in interviews with 46 experts globally. The challenges identified in this study can be clustered in four broad groups: navigating different definitions of PF; assessing and mitigating PF risk with limited information about PF threats and with a limited geopolitical and geo-economic capacity to identify and mitigate threats; monitoring trade-related transactions effectively to prevent PF-TFS while having limited or no information about the goods involved; and efficiently and effectively combating PF-TFS without being allowed to simplify compliance measures where risks are lower. An overarching challenge is, however, a surprising lack of considered policy about the purpose and strategic objectives of the new measures to be implemented.Given the identified challenges the chapter proposes the following as elements of a national PF-TFS strategy: adopting a meaningful definition of PF that fits with the country’s general proliferation policy; implementing a phased approach that first focuses on a select group of higher risk institutions with capacity; embracing a collaborative approach bringing that select group together with the range of government authorities that address aspects of PF-TFS to explore best practice approaches to supporting effective and efficient compliance; making appropriate use of the FATF’s low risk exemption to exclude low risk institutions from PF-TFS risk management obligations; facilitating PF-TFS compliance by supporting sectoral risk assessments and the development of appropriate compliance technologies; tailoring compliance expectations given the limited information that institutions may have; and monitoring implementation for intended and unintended consequences and reporting on impact and progress.Though ambitious, FATF standards are minimum standards. Countries and regulated institutions may therefore elect to go beyond the standards and adopt policies, regulations and compliance practices that serve broader non-proliferation and disarmament objectives. Given the current increase in WMD risks globally that approach deserves serious consideration. Increased compliance with global non-proliferation obligations is required and the FATF’s financial surveillance framework can provided a helpful additional layer of controls.
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Marcantoni, Enrico. "Credit Risk Modeling." In Collateralized Debt Obligations, 21–34. Wiesbaden: Springer Fachmedien Wiesbaden, 2014. http://dx.doi.org/10.1007/978-3-658-04846-4_3.
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Bożek, Diana Renata. "Redefining Product Management: IDD’s Perspective." In AIDA Europe Research Series on Insurance Law and Regulation, 371–91. Cham: Springer International Publishing, 2020. http://dx.doi.org/10.1007/978-3-030-52738-9_15.
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AbstractSince the Insurance Distribution Directive has been implemented into the national jurisdictions, the product management is no longer subject to the internal regulation of the insurance undertakings nor it can be regulated by the national of European soft law.The purpose of the chapter is to analyze product oversight and governance requirements set out in the Article 25 of the Directive which are further developed in delegated acts. Second issue is the process of defining target market with respect to each product, assessing all the relevant risks for such defined target market and analysis of the adequacy of the intended distribution strategy. Moreover, a formal recognition of the possibility of creating insurance products by the insurance intermediaries and the imposition of the relevant obligations would be considered. The analysis of how the changed approach to the product management influenced the insurance undertakings, intermediaries and the insurance market will be also presented in the chapter.
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Ge, Deng. "Nuclear Laws for Peaceful Uses of Nuclear Energy." In Nuclear Law, 29–43. The Hague: T.M.C. Asser Press, 2022. http://dx.doi.org/10.1007/978-94-6265-495-2_2.
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AbstractThe development and utilization of nuclear energy is one of the greatest achievements of the 20th century. It has greatly enhanced the ability of humanity to understand and shape the world and had a significant impact on the development of technology and civilization. In the 21st century, the United Nations (UN) has developed the “Millennium Development Goals” and the “2030 Sustainable Development Goals” to promote a comprehensive solution to the world’s social, economic and environmental issues. To this end, nuclear energy offers unique advantages, but the associated risks and challenges of its further development and utilization must be addressed. Nuclear law is a powerful tool for regulating its development and responding to those risks and challenges. The Chinese Government has always developed nuclear energy for peaceful purposes in a safe and innovative way. At the Nuclear Security Summit in 2014, President Xi Jinping proposed adhering to a rational, coordinated and balanced approach to nuclear security and promoting a fair, cooperative and win–win international nuclear security regime. This not only summarizes China’s experience in establishing a nuclear legal framework and developing nuclear industry, but would also strengthen international nuclear governance and promote nuclear energy to better benefit humanity. The international community should fulfil international obligations strictly, implement national responsibilities effectively, and jointly maintain the UN focused international system and international legal order, contributing to the realization of the common goal of “Atoms for Peace and Development”.
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Lelliott, Joseph, and Rebecca Miller. "The Nexus Between Corruption, Migrant Smuggling, and Human Trafficking in Southeast Asia." In IMISCOE Research Series, 195–215. Cham: Springer International Publishing, 2023. http://dx.doi.org/10.1007/978-3-031-25748-3_11.
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AbstractStrong drivers and demand for migrants in Southeast Asia, combined with often costly and complex channels for regular migration, have led to high levels of irregular migration throughout the region. These dynamics have, in turn, created a substantial market for the services of migrant smugglers and place many migrants at risk of human trafficking and other violations of their rights. While smuggling of migrants and human trafficking are a key concern for Southeast Asian States, many facets of these crimes remain under researched and poorly understood. This includes the role of corruption as a facilitator of smuggling and trafficking. Drawing on research concerning the nexus between corruption, smuggling, and trafficking, this chapter sheds light on the ways corrupt practices and relationships help smugglers and traffickers subvert immigration controls and prevent investigation and punishment of their illicit activities. It further explores the potential negative impacts of corruption on the protection of smuggled migrants and victims of trafficking. This chapter explains that stricter migration controls are only likely to increase the markets for smuggling and trafficking and, in turn, amplify corruption risks. It posits that, consistent with their obligations under international law, Southeast Asian States should address corruption through a three-pronged approach encompassing anti-corruption measures, better protection of the rights of smuggled migrants and trafficked persons, and efforts to increase the scope and accessibility of regular avenues for migration.
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"Data Obligations and Breaches Generally." In Cyber Risks and Insurance: The Legal Principles. Bloomsbury Professional, 2021. http://dx.doi.org/10.5040/9781526514165.chapter-002.
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Sarra, Janis. "Fiduciaries’ Obligations and Climate Governance." In From Ideas to Action, 63–110. Oxford University Press, 2020. http://dx.doi.org/10.1093/oso/9780198852308.003.0004.
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Chapter 4 carefully examines the precise contours of the legal duties of directors and officers of companies, of pension fund trustees, their investment managers and service providers, and of asset managers and investment funds. It explores how these duties arise in respect of climate-related financial risk and opportunities. It discusses potential corporate law remedies for failing to address material climate-related risks, including liability for breach of directors’ duty of care and fiduciary duty, as well as oppression remedy provisions in the corporate laws of some countries. It examines fiduciary duties of pension fiduciaries and other institutional investors, exploring how these duties can be met with effective climate governance, oversight of managers, and proactive measures to address climate risk. It explores securities law disclosure requirements and the notion of materiality that guides what corporate officers need to disclose to investors.
Conference papers on the topic "Obligations and risks"
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Miladinović, Zoran. "OBAVEZE UGOVARAČA OSIGURANjA, ODNOSNO OSIGURANIKA IZ UGOVORA O OSIGURANjU." In XV Majsko savetovanje: Sloboda pružanja usluga i pravna sigurnost. University of Kragujevac, Faculty of Law, 2019. http://dx.doi.org/10.46793/xvmajsko.301m.
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An insurance contract is one of rare contracts in which the contracting parties have certain obligations even before they sign an insurance contract. Both the insurer and the insured have certain responsibilities before signing the contract, during the term of the contract and when the insured accident occurs. As for the responsibilities of the client, that is, the insured, besides the obligation to pay the insurance premium, his key responsibility is to inform the insurer on all the risks related to the insurance policy. The insurer will decide whether he will sign an insurance policy on the basis of the risk involved. The responsibility of the insurer to disclose all relevant information prior to signing the insurance contract is based on law, customs and court practice. Although this requirement is imposed on all the clients, there are certain differences depending on the types of insurance, particularly in the area of sanctions foreseen for not complying with it. Also, throughout the life of the policy, the insurer is required to act in line with good commercial practices treating the insured object with due attention and not being careless because of the fact the object is covered by the insurance policy. Client’s failure to comply with these legal requirements and the provisions of insurance contract may result in terminating certain obligations of the insurer agreed in the contract.
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Zeņķis, Pauls. "Subordinētās obligācijas – jēdziens un būtība." In Latvijas Universitātes 80. starptautiskā zinātniskā konference. LU Akadēmiskais apgāds, 2022. http://dx.doi.org/10.22364/juzk.80.09.
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A bond is a debt security, under which its issuer undertakes to repay to the bondholder the principal of the bond and the interest (the coupon) at a specified point in time, that is to be considered as the extinguishing of bonds. Bonds have several types: bonds issued by the public sector, bonds issued by capital companies, publicly available bonds, private bonds, convertible bonds, subordinated bonds, etc. In economic circulation, subordinated bonds are widespread securities. The subordinated obligation in the subordinated bond distinguishes the subordinated bond from other bonds. At the same time, the underlying relationship entails significant risks for the performance of the obligations arising from the bond, which is outweighed by higher profitability of such bonds.
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Severin, Irina, Gabriela Nalbitoru, and Mihai Caramihai. "Health and occupational risks analysis in custom border offices." In Intelligent Human Systems Integration (IHSI 2022) Integrating People and Intelligent Systems. AHFE International, 2022. http://dx.doi.org/10.54941/ahfe1001040.
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In line with National and European regulations, containing recommendations on the application of legal safety and health requirements for work and for the use of work equipment, the risk analysis has been conducted for two different positions in custom border offices, such as: the custom officer, acting in the non-destructive control department and the customs laboratory (lab physician, biologist, chemical engineer, biochemist). This article aims to present the risk analysis performed using the national method for assessing the risks of accidents and occupational diseases of workers, in order to facilitate the fulfilment of obligations of employers in the prevention of risks at work. The results are compared with those obtained using questionnaires method, based on Delphi approach. Finally, recommendations are addressed to all interested parties, such as: employers and workers in operational processes. A brief action plan for custom border offices is drafted.
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Botnari, Nadejda, and Mariana Pruteanu. "Riscurile financiare în domeniul relațiilor bugetare și fiscale: aspecte doctrinare – metodologice și tipologia lor." In International Scientific-Practical Conference "Economic growth in the conditions of globalization". National Institute for Economic Research, 2023. http://dx.doi.org/10.36004/nier.cecg.iii.2023.17.23.
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The author, analyzing the institutional and doctrinal aspects of the budgetary - fiscal sector as one of the central areas of the financial component of the national economy, which constitutes both a source of financial risks – the risks of the financial security of the state, as well as the area of manifestation of internal and external risks, aims to formulate the methodological content of the concept of financial risks in the field of budgetary and fiscal relations, as well as to examine the diversity of types and forms of their appearance and manifestation. The methodological basis of the study is the general methods of scientific research (analysis, synthesis, induction, deduction) as well as the specific methods of scientific knowledge (division and decomposition of results, grouping, comparison according to a predetermined level and special comparisons). As a result of the study, we can define the financial risks in the field of budgetary and fiscal relations as an economic-financial category that expresses the probability of the appearance of factors (events, acts, etc.) that can determine the deviation of the actual values of the budgetary and fiscal indicators from the planned ones, as well as the non-execution or improper execution of the budget and fiscal procedures established in the budget process. The article highlights the criteria for classifying the risks in the field of budgetary and fiscal relations and determines them according to the essential characteristics of this field (the risks of the budgetary-fiscal system and the risks of the budgetary process), the legal nature of the relations within this field (risks of property relations and risks of administrative and managerial relations), the legal form of the relations within this field (the risks of payment obligations and the risks of fiscal obligations), the form of manifestation (quantitative, measured in monetary units, and qualitative, expressed in the violation of budget procedures), the degree of complexity (explicit, implicit).
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Delchev, Luben. "INVESTMENT INTERMEDIARY - CURRENT LEGAL ASPECTS." In THE LAW AND THE BUSINESS IN THE CONTEMPORARY SOCIETY 2020. University publishing house "Science and Economics", University of Economics - Varna, 2020. http://dx.doi.org/10.36997/lbcs2020.149.
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The report aims to clarify the rights and obligations of the investment intermediary, as well as to identify good practices and current issues in the field of commercial investment interme-diation. The report addresses issues of how to invest and the legal aspects of this, as well as the possibility of risks and those available to compensate investors.
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Fiala, Zdenek, and Olga Sovova. "NEW CHALLENGES FOR PUBLIC ADMINISTRATION AT THE AGE OF THE RIGHT TO THE INTERNET ACCESS." In 4th International Scientific Conference – EMAN 2020 – Economics and Management: How to Cope With Disrupted Times. Association of Economists and Managers of the Balkans, Belgrade, Serbia, 2020. http://dx.doi.org/10.31410/eman.2020.201.
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The paper discusses the challenges, benefits, and risks of the digitization in public services; argues the internet access right as a fundamental human right and the obligation of a state to provide digital services in the public administration; points out the main tasks of public administration when introducing the principles of good governance; addresses the development of the mentioned principles in the European public space as well at the examples of the Czech Republic. The authors critically describe evaluation methods of digitized public administration and e-Government, including the general model of user acceptance of information technology and benchmarking within the global worldwide information society. The paper highlights practical examples of digitization of the public space in the European Union and in the Czech Republic. The paper concludes with the issues of the state obligation to cover gaps between the legal and economic demand for digitization and provision of digital public services and needs of communities and individuals. The authors use the economic approach to examine legal issues of digitization in public administration. The comparison of the European legislation and Czech national legislation form the primary methodology of the interpretation of the rights of users as well as the obligations of the public administration. Practical examples, figures and tables highlight the argued issues.
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Ferreira, Doneivan F., and Saul B. Suslick. "The Application of Bonding Mechanisms for Environmental Compliance and Its Economic Impacts on Oil Projects." In ASME 2002 Engineering Technology Conference on Energy. ASMEDC, 2002. http://dx.doi.org/10.1115/etce2002/ee-29143.
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The present paper describes the financial assurance system (bonding system), an incentive approach being adopted by several countries to guarantee or fund environmental obligations and ensure environmental performance. Environmental compliance involves meeting all end-of-leasing obligations, including closure and decommissioning operations. This paper also identifies the main forms of potential environmental damages resulting from upstream activities and their potential financial impact on the regulatory agency. It will be demonstrated how bonding instruments may help reduce such risks by: (1) providing financial incentive for environmental compliance; (2) safeguarding government and taxpayers by attaining reasonable protection from default at a minimum increase in project costs; and (3) protecting the environment from potential harm resulting from failure to carryout proper closure operations in a timely fashion. A model is proposed for a hypothetical scenario and an analysis is performed in order to identify potential financial impacts on oil projects.
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Ruseva, Petya. "ROLE OF THE LEGAL ORGANIZATIONAL FORM OF GRAIN PRODUCERS IN CASE OF NON-FEASANCE TO MAKE MONEY OBLIGATIONS." In THE LAW AND THE BUSINESS IN THE CONTEMPORARY SOCIETY 2020. University publishing house "Science and Economics", University of Economics - Varna, 2020. http://dx.doi.org/10.36997/lbcs2020.184.
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The choice of the legal-organizational form of the grain producers in settling their financial relations is of special importance for the creditors, considering the possibility of the farms to function as companies and as individuals. The elaboration sets out the risks for creditors in case of taking coercive actions for collection of receivables from grain producers - individuals and gran producers - commercial companies.
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Pierre, Philippe. "Patient Protection Under French Law: The Example of Medical Information." In The 8th International Scientific Conference of the Faculty of Law of the University of Latvia. University of Latvia Press, 2022. http://dx.doi.org/10.22364/iscflul.8.2.32.
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The duty of physicians and health institutions to inform patients about medical risks is a much-debated source of liability in French law. Ethical misconduct resulting from breaches of these obligations is likely to call into question the balance of relations between health professionals and patients. Case law, and then the French law of 4 March 2002, have constantly improved the possibilities of action for victims of incomplete or imperfect information, by making it easier for them to prove the lack of information and by establishing the compensable damages, which are distinct from bodily injuries. However, one may wonder whether this increased protection of patients is not now excessive, by transferring the burden of the medical decision and the related risks onto them, once they have been fully informed.
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Fletcher, Edwin John, and Nigel Howard Croft. "Trust but Verify – Managing Supply Chain Risks." In Offshore Technology Conference. OTC, 2022. http://dx.doi.org/10.4043/31969-ms.
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Abstract The oil and gas sector operates within a complex environment of operational and process safety requirements, regulatory and social license obligations. This complexity and the resultant risks and opportunities cascades throughout the sector's supply chain. It is standard practice for organizations in the sector to require their products and services suppliers to operate quality management systems. This paper demonstrates the value of aligning and standardizing customer quality management requirements through the adoption of standards such as ISO 29001:2020 to realize and protect value and to limit the uncertainty and supplier cost and schedule contingencies applied to bespoke customer quality requirements and intervention in supplier operations. ISO /TS 29001:2010 and comparable standards such as API Specification Q1 were developed to supplement the generic aspects of ISO 9001 with sector specific requirements tailored to address the context and associated risks of the sector. ISO 9001:2015 introduced a step change in the way quality management systems are implemented across all industries. Organizations are required to place emphasis on the identification and management of risks associated with their activities, processes, output products and services. Quality management systems must include appropriate processes for risk management and opportunity realization. ISO 29001:2020 supplements ISO 9001:2015 with requirements and guidance to manage risks associated with the oil and gas sector and to provide a framework for aligning requirements with complementary standards, such as API Specifications Q1 and Q2 employed within the sector. Recognizing that there is a vast scope of supply in the sector, from standard to specialized materials, equipment, and services, it is important that relevant risk-based approaches are taken when specifying and evaluating quality management system requirements. This strategy ensures that both supplier and customer resources are deployed to facilitate and verify conformance with requirements based on service risk and supplier capabilities. The paper overviews the methodology and implementation strategies for performing risk assessments, assessing supply chain capability and for specifying and verifying quality requirements provided in Annex C of ISO 29001:2020. The paper introduces case studies demonstrating the potential value of implementing ISO 29001:2020 and the methodology prescribed in Annex C. It also provides observations and draws conclusions on the prerequisites and barriers to the successful implementation of the standard. This paper will also demonstrate how the sector specific quality requirements provided in ISO 29001:2020 complement the introduction of innovative technologies. Examples include virtual communication, data collection, analysis, identification and traceability applications to validate conformance and enable innovation and learning organizations.
Reports on the topic "Obligations and risks"
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Wood, Brian. The Arms Trade Treaty: Obligations to Prevent the Diversion of Conventional Arms. UNIDIR, June 2020. http://dx.doi.org/10.37559/caap/20/asc/03.
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States Parties to the ATT have accepted particular obligations to prevent, detect and eradicate the diversion of conventional arms transfers. However, the absence of a definition of ‘diversion’ makes the interpretation and implementation of ATT measures to address diversion difficult. This paper analyzes the inter-locking provisions of the ATT and other relevant instruments, providing key elements to guide the formulation of a general description of the diversion of arms transfers for the purposes of implementing the ATT. This paper is the first in a series of issue briefs released as part of a joint research project by UNIDIR, Conflict Armament Research, Small Arms Survey and Stimson Center. The objective of the research is to enhance knowledge and facilitate dialogue among States to strengthen shared understanding on the impact of the ATT in addressing risks of diversion, and to identify avenues to further promote effective policies and practices under the Treaty.
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Khvostina, Inesa, Serhiy Semerikov, Oleh Yatsiuk, Nadiia Daliak, Olha Romanko, and Ekaterina Shmeltser. Casual analysis of financial and operational risks of oil and gas companies in condition of emergent economy. [б. в.], October 2020. http://dx.doi.org/10.31812/123456789/4120.
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The need to control the risk that accompanies businesses in their day- to-day operations, and at the same time changing economic conditions make risk management an almost indispensable element of economic life. Selection of the main aspects of the selected phases of the risk management process: risk identification and risk assessment are related to their direct relationship with the subject matter (risk identification to be managed; risk analysis leading to the establishment of a risk hierarchy, and, consequently, the definition of risk control’ methods) and its purpose (bringing the risk to acceptable level). It is impossible to identify the basic patterns of development of the oil and gas industry without exploring the relationship between economic processes and enterprise risks. The latter are subject to simulation, and based on models it is possible to determine with certain probability whether there have been qualitative and quantitative changes in the processes, in their mutual influence on each other, etc. The work is devoted to exploring the possibilities of applying the Granger test to examine the causal relationship between the risks and obligations of oil and gas companies. The analysis is based on statistical tests and the use of linear regression models.
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Franke, Guenter, and Jan Pieter Krahnen. Default Risk Sharing Between Banks and Markets: The Contribution of Collateralized Debt Obligations. Cambridge, MA: National Bureau of Economic Research, November 2005. http://dx.doi.org/10.3386/w11741.
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Gamba-Santamaria, Santiago, Luis Fernando Melo-Velandia, and Camilo Orozco-Vanegas. What can credit vintages tell us about non-performing loans? Banco de la República de Colombia, February 2021. http://dx.doi.org/10.32468/be.1154.
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Using Colombian credit vintage data, we decompose the non-performing loans into one component that captures the evolution of the payment capacity of borrowers, and other component that captures changes in the credit risk taken by the financial system at the time of loan disbursement. We use intrinsic estimators and penalized regression techniques to overcome the perfect multicollinearity problem that the model entails. We find that these two type of components have evolved differently over time, and that good economic conditions and loose financial conditions improve the payment capacity of borrowers to meet their obligations, and in turn, they tend to coincide with the financial system engaging in riskier loans. Finally, we advocate the use of this methodology as a policy tool that is easy to apply by financial and economic authorities that dispose of a constant flow of credit vintage information. Through it, they will be able to identify the origin of the credit risk materialization and curb the risk taken by the financial system.
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Perraudin, William, Andrew Powell, and Peng Yang. Multilateral Development Bank Ratings and Preferred Creditor Status. Inter-American Development Bank, July 2016. http://dx.doi.org/10.18235/0011741.
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This paper analyzes influences on the credit standing of Multilateral Development Banks (MDBs), specifically the quality, diversification and single name concentration of their portfolios, and on the market practice known as Preferred Creditor Status (PCS), whereby sovereigns that default on other debt rarely fail to meet their obligations to MDBs. The paper examines how rating agencies assess MDB ratings, focusing in particular on how Standard & Poor's assesses capital as part of its MDB rating process. The results are compared with those implied by an industry-standard, ratings-based Credit Risk Model (CRM). Applying these methodologies to one specific MDB, the Inter-American Development Bank (IDB), the paper shows that S&P's approach is highly conservative in its evaluation of single name concentration risk and makes insufficient allowance for PCS. Calibrating the CRM with risk-neutral distributions, the paper examines the effect of PCS on MDB funding rates and compares model-implied funding spreads with those observed in the market.
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Hill, Steven. NATO and the treaty on the prohibition of nuclear weapons. Royal Institute of International Affairs, January 2021. http://dx.doi.org/10.55317/9781784134419.
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The Treaty on the Prohibition of Nuclear Weapons (TPNW) entered into force on 22 January 2021. As part of a project examining NATO obligations and how they interact with nuclear non-proliferation and disarmament law and policy, this paper focuses on what the entry into force of the TPNW should mean for members of the NATO Alliance. NATO has long maintained a strong unified position in opposition to the new treaty, meaning that under current circumstances it is unlikely that any NATO member will join the TPNW. But the reality for NATO, its members and partners is that the TPNW is now here to stay. There is a risk that if the Alliance maintains an intense focus on opposing the TPNW, this may obscure NATO’s broader long-standing commitment to global nuclear disarmament, and may undermine the potential for NATO and supporters of the TPNW to work together to advance the common goal of nuclear disarmament.
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Kiel, Al. Trustees' handbook of Jamaica. Inter-American Development Bank, February 2018. http://dx.doi.org/10.18235/0003867.
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This eighth document of the PLAC Network Technical Assistance Document Series is entitled “Trustees Handbook” and was especially designed for the Board of Trustees that is responsible for the management of private pension plans in Jamaica. The handbook aims to provide trustees with important learning, understanding and clarification on pension-related matters. It covers a range of topics to assist trustees in the effective management of pension plans and, by extension, contribute to strengthening the regulatory framework of the pension industry. This initiative seeks to help trustees understand their obligation to make informed decisions, manage risk and reduce ambiguity and misinterpretation by providing an official source of reference and to increase knowledge and understanding of the operations of pension plans and the requirements contained in the Pensions Act and associated regulations, applicable policies and procedures and best practices.
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Carlson, John. Nuclear verification in a Middle East WMD-Free Zone: Lessons from Past Verification Cases and Other Precedents. The United Nations Institute for Disarmament Research, January 2021. http://dx.doi.org/10.37559/wmdfz/21/nv/01.
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Verification will be of critical importance to achieving and maintaining a Middle East zone free of weapons of mass destruction (ME WMD). Effective verification arrangements would serve a vital national security objective for each state in the region by reducing tensions, removing the motivation to proliferate, and mitigating the risk of a virtual nuclear arms race (or war). In view of the high levels of tension and mistrust within the zone, ensuring effective verification will be especially demanding. The paper examines specific elements of the future nuclear verification of the zone, including: Which states should be included? What prohibitions and obligations should apply in the zone and how would they be verified? How could elimination of nuclear weapons in the zone be achieved? On what basis would the zone treaty enter into force? The paper also examines a number of existing treaties and arrangements as well as the lessons learned from past verification cases which regional states can draw on in developing verification for a Middle East nuclear-weapon-free zone.
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Jorge, Guillermo. Identification and Exchange of Information on Politically Exposed Persons in Central American Countries. Inter-American Development Bank, August 2018. http://dx.doi.org/10.18235/0010714.
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In the fight against money laundering, information on politically exposed persons (PEPs) is highly relevant for financial institutions as it is about customers deemed to be high-risk due to their public functions and the degree of influence they can exert. This document reviews the regulatory and operational frameworks to access and exchange of information on PEPs in Central American countries, as well as the enhanced due diligence measures under implementation in these countries. The main findings indicate that there are legal constraints in relation to the definition of PEPs and the obligation to declare beneficial owners. There are also operational constraints in terms of the measures implemented to identify PEPs and to ensure the integrity of information systems. Likewise, this document presents recommendations to address the barriers identified and analyzes best practices to help strengthen the detection and prevention mechanisms used by Central American governments and financial institutions for cases in which PEPs use the financial system to launder money obtained through corruption and related crimes.
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Putriastuti, Massita Ayu Cindy, Vivi Fitriyanti, and Muhammad Razin Abdullah. Leveraging the Potential of Crowdfunding for Financing Renewable Energy. Purnomo Yusgiantoro Center, June 2021. http://dx.doi.org/10.33116/br.002.
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• Renewable energy (RE) projects in Indonesia usually have IRR between 10% and 15% and PP around 6 to 30 years • Attractive return usually could be found in large scale RE projects, although there are numerous other factors involved including technology developments, capacity scale, power purchasing price agreements, project locations, as well as interest rates and applied incentives. • Crowdfunding (CF) has big potential to contribute to the financing of RE projects especially financing small scale RE projects. • P2P lending usually targeted short-term loans with high interest rates. Therefore, it cannot be employed as an alternative financing for RE projects in Indonesia. • Three types of CF that can be employed as an alternative for RE project funding in Indonesia. Namely, securities, reward, and donation-based CF. In addition, hybrid models such as securities-reward and reward-donation could also be explored according to the project profitability. • Several benefits offer by securities crowdfunding (SCF) compared to conventional banking and P2P lending, as follows: (1) issuer do not need to pledge assets as collateral; (2) do not require to pay instalment each month; (3) issuer share risks with investors with no obligation to cover the investor’s loss; (4) applicable for micro, small, medium, enterprises (MSMEs) with no complex requirements; and (5) there is possibility to attract investors with bring specific value. • Several challenges that need to be tackled such as the uncertainty of RE regulations; (1) issuer’s inability in managing the system and business; (2) the absence of third parties in bridging between CF platform and potential issuer from RE project owner; (3) the lack of financial literacy of the potential funders; and (4) lastly the inadequacy of study regarding potential funders in escalating the RE utilisation in Indonesia.