Academic literature on the topic 'Trading companies – Canada'

The effect of firm characteristics on the disclosure of IAS/IFRS information can not be studied in isolation of the national context of the country of nationality or domicile of the firm. Starting from the assumption that the intrinsic characteristics of the firm depend significantly on its size and the country of his nationality, we chose to work on companies belonging to different trading indices and from countries with different cultures and levels of economic development. The selected countries are Tunisia, France and Canada since Tunisia differs from Canada and France mainly by the level of economic development (developing countries) and France differs from Canada by culture. Our sample includes 52 Tunisian companies (40 listed on the first market and 12 on the alternative market), 244 French companies (35 CAC40 Index (top 40 French firms) and 209 CACsmall (index of small Capitalization French firms)) and 223 Canadian companies (36 ^TX60 (first 60 Canadian companies) and 187 ^TX20 Index (Small Capitalization Canadian firms)). Our results showed that the determinants of the disclosure of IAS/IFRS information will vary depending on the nationality of the firm and also showed the importance of the nationality of the firm in explaining disclosed information since the proxy used "country" has significant coefficients.

We analyze the competition between two developed stock exchanges. Their development rests mainly on their capacity to attract securities and trades. The US market is attracting a growing number of Canadian companies and is capturing a growing portion of their traded value. This slide of trading toward the US market is a huge challenge for Canadian policy makers while the efforts to compete with the US market seem to be having only limited effects. We analyze the implications of this situation for policy makers in Asia-Pacific where several markets and financial centers are attempting to emerge.

This is the first statistical analysis to understand how economic globalization affects earnings of native-born and immigrant populations with different racial and ethnic backgrounds in Canada. Draw on four measures of economic globalization: number of non-resident workers in CMAs, number of companies with foreign investment, size of financial industry, and volume of equity trading, our study finds that the effects of economic globalization on individual earnings is influenced by the particular aspect of economic globalization and the group being considered. Specifically, economic globalization is beneficial to nativeborn members of visible minority groups and is very sensitive to their immigrant members.

Purpose The purpose of this paper is to investigate the effect of the information disclosure quantity on the pricing efficiency of stocks. Design/methodology/approach Using a sample of large and actively traded Canadian companies listed on the Toronto Stock Exchange, the authors utilize annual reports filed on system for electronic document analysis and retrieval (SEDAR) between 2003 and 2013 to estimate the amount of publicly available information and find that the length and size of annual reports are important determinants of short-horizon return predictability from historical order flows, which is an inverse indicator of market efficiency. Findings The results show that longer and larger annual reports are associated with reduced information asymmetry, lower cost of immediacy, higher trading activity, and an overall improvement in the efficiency of price discovery. The results are robust to the inclusion of controls for various determinants of short-horizon return predictability, such as trading costs, volatility, informational effects and other firm-specific characteristics. Research Limitations/implications Collectively, the findings provide empirical support for the benefits of detailed corporate disclosure in Canada. Originality/value This is the first study to utilize the short-horizon return predictability approach to evaluate the efficiency of price discovery in relation to the amount of information disclosure.

ObjectivesOver the past 15 years, tobacco companies operating in Canada abandoned their long-standing unitary price model in favour of price differentiation. Concerns about low cigarette prices were identified by the Quebec government in 2015 when it introduced restrictions on the types of incentives that tobacco manufacturers may offer to retailers. This study sought to explore cigarette prices in Quebec 1 year after these restrictions came into effect.MethodsDetails on cigarette trading terms and programmes were obtained from websites maintained by retailer groups. Visits were made to tobacco retailers in four Quebec municipalities in the autumn of 2017. The price displayed for cigarettes was observed and recorded in 273 convenience stores.ResultsTwo forms of price differentiation were observed. The first was price-segmentation between brands, reflected in a difference of $3 or more in the average displayed price between premium and discount brands of each manufacturer (ie, $10.48 vs $7.43 for a package of 20 cigarettes of the most and least expensive brands sold by Philip Morris International). Price localisation was also observed, reflected in a $2 range of prices between retail outlets for the same package of cigarettes. Even among outlets of a given chain of convenience stores, the price of the least expensive brands varied by more than $1 per package. The size of the variance in prices rivals or exceeds the size of tobacco tax increases in Quebec over the past decade.ConclusionsRecent restrictions on tobacco industry incentive programmes for retailers have not ended price differentiation. Tobacco manufacturers’ and retailers’ pricing policies continue to provide price-sensitive smokers with ways to avoid the impact of tobacco tax increases.

Canada and the United States are each other’s best trading partners. Our supply chains are deeply integrated. Corporate ownership criss-crosses the border many times over. In the context of foreign policy, although we have differed from time to time in the past, we generally target the same list of ‘bad actors’ – Iran, North Korea, Myanmar among them. Indeed, many of our sanctions programmes have been adopted pursuant to the same United Nations Security Council resolutions that are applied in similar fashion by UN member countries. Our controls on the export of goods and transfer of technology arise from our common commitments under the 1996 Wassenaar Arrangement on Export Controls for Conventional Arms, Dual-use Goods, Technology and other international agreements. It should come as no surprise therefore that in this environment many companies impose a single set of rules or principles regarding export controls and doing business with sanctioned countries. Under the assumption that Canadian and US laws are similar and, that any differences arise from more restrictive elements of US policy, a common default approach is for US companies to graft their US-based export control, economic sanctions policies, and procedures on to their Canadian operations; even some Canadian-based companies doing business in the United States will follow this approach. This is problematic for a number of reasons. Contrary to popular belief, Canadian export controls and economic sanctions can be more restrictive than those of the United States – aspects of the control regime for cryptographic goods and technology and the rules governing trade with and investment in Myanmar are two such examples. More importantly, there are instances in which there is direct conflict between Canadian and US law – that is, compliance with the requirements of one nation’s laws results in contravention of the laws of the other. Two examples of such conflict arise with US military controls under the International Traffic in Arms Regulations and Canadian human rights legislation and with Cuban trade and investment. The latter conflict is the focus of this article.

The past several years have been difficult for the Cuban people. The economies of Cuba's major trading partners have collapsed. The 33-year U.S. embargo was tightened with passage of “The Cuban Democracy Act of 1992” to include trade—mostly in food and medicines—by subsidiaries of U.S. companies in other countries. The March 1993 “Storm of the Century,” which devastated communities from the Caribbean to Canada, caused an estimated $1 billion in damage to Cuba. A mysterious disease known as neuropathy, which can affect vision, appeared in late 1991 and has spread throughout the island. All this has created a situation of scarcity and uncertainty that has affected all aspects of Cuban society, including its health care system. In June 1993 a delegation that included members of the American Public Health Association traveled to Cuba to investigate the current health situation in the country, with an emphasis on the impact of the U.S. embargo. The delegation found that compared to two and three years ago, the general standard of living in Cuba and the quality of health services have declined dramatically. It concluded that while the overall health of the Cuban population has not yet seriously eroded as a result of the economic decline, severe problems threaten to emerge in the future. The delegation called for lifting of the embargo as part of a new approach in U.S. policy toward Cuba.

Canadian scientists have played a major role in the discovery and characterization of various atrial natriuretic factors (ANF). It is now clear that this family of polypeptides induces multiple biological actions in a broad variety of peripheral tissues including the kidney, adrenal gland, and blood vessels. One generalized observation derived from multiple studies reveals that these peptides most likely act as important modulators of homeostasis by modulating the production of various body fluids. Recently, it became clear that the atrial natriuretic factors present in the central nervous system could influence various brain functions. Thus, the ANF-like peptides should be considered as a new family of brain–heart peptides.The present symposium, the first of its kind, was organized to examine and critically discuss the evidence for putative roles of atrial natriuretic peptides in the brain. It was clearly demonstrated that atrial natriuretic peptide-like immunoreactivity is widely distributed in mammalian and nonmammalian brains with a high number of cell bodies and (or) fiber terminals present in areas associated with water and salt intake and with the control of cardiovascular parameters. The gene transcripts responsible for the production of brain atrial natriuretic polypeptides have been isolated and their characteristics appear to be similar to those found in peripheral tissues. The presence and plasticity of specific brain ANF receptor sites have also been reported. It appears that at least one population of sites is associated with the activation of guanylate cyclase and it was also shown that specific ANF receptors are located on brain microvessels and can modulate the permeability of the blood-brain barrier. Finally, it has been shown that atrial natriuretic polypeptides exert various biological actions in the brain including electrophysiological effects in the hypothalamus, modulation of water and salt intake, alteration of various cardiovascular parameters, and release of certain pituitary hormones.Interactions with dopaminergic pathways, vasopressin, and (or) angiotensin II systems could be associated with some biological effects of atrial natriuretic peptides in the brain. Naturally, much remains to be known on the exact physiological role of brain atrial natriuretic factors, but this meeting represents the first attempt towards the integration of the most recent findings in this exciting research area.This symposium was an official satellite of the first joint meeting of the International Society for Neurochemistry and the American Society for Neurochemistry, held in Venezuela in May–June 1987. The success of the symposium has been ensured by generous donations from the International Society for Neurochemistry, the Medical Research Council of Canada, and various companies including Amersham International (England), ANAWA Trading SA (Switzerland), Ayerst Laboratories (U.S.A.), Bachem (Switzerland), Bayer AG (West Germany), Bio-Mega Inc. (Canada), Ciba-Geigy Corporation (U.S.A.), Dupont Canada – New England Nuclear Co. (Canada), Eli Lilly Research Laboratories (U.S.A.), Farmitalia Carlo Erba (Italy), Institut Henri Beaufour (France), Merck Sharp &Dohme Research Laboratories (U.S.A.), Miles Laboratories Inc. (U.S.A.), Monsanto Co. (U.S.A.), Novabiochem (Switzerland), Novopharm Ltd. (Canada), Peninsula Laboratories (U.S.A.), and the Peptide Institute and Protein Research Foundation (Japan).

Among the colonial powers of the early modern period, France was the last to emerge. Although, the French had not abstained from the exploration of fhe New World in the 16th century: G. de Verrazano discovered the site of New York (1524), during a voyage sponsored by King Francis I; Jacques Cartier sailed up the St. Lawrence to Quebec and Montreal (1535). From the early 16th century, many ships from ports such as Dieppe, St. Malo, La Rochelle, went on privateering and or trading expeditions to the Guinea coast, to Brazil, to the Caribbean, to the Spanish Main. Many French boats did fish off Newfoundland. Some traded in furs on the near-by Continent. Moreover, during the 16th century, sporadic attempts were made to establish French settlements in «Equinoctial France» (Brazil), in Florida, in modern Canada, but they failed utterly. Undoubtedly, foreign wars against the Habsburgs, during the first half of the 16th and of the 17th centuries, civil «wars of religion» during the second half of the 16th century, political disorders like the blockade of La Rochelle or the Fronde during the first part of the 17th century, absorbed the attention and resources of French rulers, despite some ambitious projects, like those of Richelieu, for overseas trade. As for the port cities they tried to trade overseas but they were isolated and not strong enough (specially during die wars of religion) to create «colonies». Some small companies, which had been started in 1601 and 1604, to trade with the East Indies, were very short-lived, and the French did not engage seriously in Asian trade before 1664.

The T Eaton company, considered the world's first department store, was named after its founder Timothy Eaton. In 1869, it as a small dry goods business in Toronto. By 1907, at the death of its founder, it was a giant retail store, with a branch in Winnipeg, alongside a country-wide mail-order business. Innovative practices established during his time included sales for cash only and satisfaction guaranteed or money refunded. Eaton's successors extended the Eaton empire across Canada, continuing the tradition of quality goods, prices, customer service and also fair labour practices. It became a Canadian institution. Eaton's filed for protection from its creditors in February 1997 and once again in August 1999 (see Appendix 1 for a chronology of events) under the federal Companies' Creditors Arrangement Act and the Ontario Business Corporations Act (Closings). The restructuring that followed the first bankruptcy was only partially successful. However, it had a significantly positive impact on Eaton's operations, and seemed to turn things around. Were it not for bad economic news and misfortune in mid-to-late 1998 (CNW 3 and CNW 5), the plan might have worked. Store-closings, employee terminations, and a huge liquidation sale followed the second bankruptcy declared in August 1999, as did the suspension of the trading of Eaton's stock (Chron). Sears Canada Inc. agreed to purchase 16 of the Eaton's stores in September 1999 (Sears 1; Material 1). These will open by the fall of 2000 (Material 2; Sears 1). A compromise was made with Eaton's creditors (including the employees) to give them approximately $0.50 on the dollar (Olijnyk 1). A compromise was also arrived at with Eaton's shareholders whereby the latter would be given participation units in exchange for their common shares (on a one-for-one trade) (Amended; Trachuk). These participation units are to be used in a contingent and conditional settlement based upon the possible utilization of tax credits by Sears acquired as a result of Eaton's $390 million in losses since 1996 (Receivership; Amended; Trachuk). These settlement monies might or might not be realized by the former shareholders (Amended; Trachuk). Today, Eaton's is no more. In its place are many great memories by a former generation of Canadians who used to go to the Eaton's stores to buy big things that were always of high quality. "Agnes Lunn, who was visiting [Edmonton, Calgary,] from Dartmouth, N.S., said she will miss the chain because of its trustworthiness. "If you bought something from Eaton's, you knew it was worth having, you knew it would be quality," she said (Auction)." Perhaps having six of the Eaton's stores open up this fall with the Eaton's name on them will rekindle a loyalty in a new generation of Canadians?

In many regions of Canada, from the fur trade to the twentieth century, aspects of Euro-Canadian economies have been dependent on a pool of female Aboriginal laborers. This chapter suggests that the “harsh reality” of northern plains and woodlands survival pushed traders into relationships with indigenous women, perhaps initially as companions and helpmates, but increasingly cognizant of women's seasoned proficiencies in harvest and provisioning as well as the tanning and preservation of hides. Without this expertise, the trading enterprise likely would have failed. By the mid-nineteenth century, the reciprocity of indigenous women is demographically confirmed, in fifty-three distinct Métis communities in the Great Lakes area alone, whose inhabitations blended native and European ways of living in highly distinct ways.

THE Oxford History of the Novel in English concludes with the present volume, which focuses on the novels written in Australia, Canada, New Zealand, and the South Pacific since 1950. A sequel of sorts to Volume 9, The World Novel in English to 1950, the present work examines the literary production of a set of diverse writings from a geographically varied and extensive region. Its component cultural entities are connected by historical networks of trading and colonialism and by contemporary systems of global production and circulation. The fiction covered in this volume emanates from countries either bordering on the Pacific Ocean or surrounded by it. For at least one century they were all interconnected by sailing ships, and they have all faced the crisis of reinventing themselves as postcolonial nations since the Second World War. In that regard, this volume—allowing for many differences in historical and sociological circumstances—also serves as a companion to studies of Asian and African fiction in Volumes 10 and 11. At the same time, each zone of literary production surveyed here retains specific differences of temporal, political, and ethnic formations that cannot be contained within one neat comparative frame. This fact is reflected in the structure of the volume: a mix of comparative surveys centred on genres or modes, a section on book history, another providing sociocultural contexts focused on the notion of shifting identities, a series of regional analyses with more detailed discussion of key figures from each zone, and concluding with chapters on the periodicals supporting literary production and on literary histories across the entire area....

This chapter depicts the growth and development of the fur trade during the 1920s in Western Arctic Canada: its swift eastward expansion (as far as King William Island), and the rivalries that developed among several trading companies, particularly the Hudson’s Bay Company, the Klengenberg family, and the Canalaska Company.

A decade ago, IT — through its innovations in business process reengineering — led the way in breaking down the inefficiencies within companies. Firms in the new millennium now face relentless pressure to perform better, faster, cheaper, while maintaining a high level of guaranteed results. Firms must thus focus on their core competencies and outsource all other activities. Working with a partner, however, requires breaking down the inefficiencies between organizations and coping with frequent change across the entire end-to-end value chain. In this new world of collaborative commerce and collaborative souring, a standard business process is simply inadequate. Using e-contracts to build new business relationships and to fulfill e-contracts through the Internet are important trends. E-contracting is however not a new concept. The history of e-contracting can be reviewed from legal and technology aspects. Over the last 20 years or so, a growing body of research in artificial intelligence has focused on the representation of legislation and regulations (Sergor, 1991). As specific regulations, contracts are used to regulate the actions of twoor multi-party interactions. Gardner (1987) has developed contract formation rules. Her work concerns legislation about the nature of exchanges that lead to contractual relations. The ALDUS project and Legal Expert project investigated drafting the Sale Goods contract (ALDUS, 1992) and the United Nations Convention on contracts for the international sale of goods (Yoshino 1997, 1998), respectively. Detailed information on developing logic-based tools for the analysis and representation of legal contracts can be found in Daskalopulu (1997, 1999). The law regards contracts as collections of obligations; research in this area includes automated inference methods, which are intended to facilitate application of the theory to the analysis of practical problems. The purpose of a legal e-contracting system is to clarify and expand an incomplete and imprecise statement of requirements into a precise formal specification. In the early 1990s, the development of EDI (electronic data interchange) was a significant movement for electronic commerce. EDI was considered a term that refers solely to electronic transactions and contracts (Justice Canada, 1995). EDI requires an agreement between trading partners that not only dictates a standard data format for their computerto- computer communications, but also governs all related legal issues of EDI usage. In 1987, the first set of EDI rules was named the Uniform Rules of Conduct for Interchange of Trade Data by Teletransmission (UNCID, 1987). In 1990, the American Bar Association (ABA) published a Model Trading Partner Agreement and Commentary, together with an explanatory report (Winn & Wright, 2001). In 2000 IBM submitted to OASIS (for standardization) the first example of an XML-based EDI TPA language, called Trading Partner Agreement Markup Language (tpaML). While the EDI standard introduced efficient communication channels between companies, its implementation was not widely accepted due to its high installation costs, lack of flexibility, and technological limitations (Raman, 1996). With the development of the Internet, electronic contracting began to be interpreted in broader terms. In this new view, an e-contract is not only used as a legally binding agreement between a buyer and seller, but it can also used across different workflow systems to cross different organizational business processes (Koetsier, Grefen, & Vonk, 1999; Kafeza, Chiu, & Kafeza, 2001; Cheung, Chiu & Till, 2002) to integrate different Web services (Cheung et al., 2002, 2003). E-contracting has become synonymous with business integration over electronic networks.

This concluding chapter draws together, and reflects upon, the themes and strands that have emerged in the volume as a whole. In addition, however, it examines the relationship between islands and empire during a time of unprecedented change in maritime transport, as new steam technology began to free ships, navies, and trading companies from the constraints hitherto imposed upon them by winds and tides. It looks at the ways in which the nodal points of Britain’s overseas network of islands changed as voyage patterns altered, and it considers the effect that this had upon the distribution of imperial outposts and possessions. The chapter concludes with a brief consideration of how the opening of the Suez Canal in 1869—perhaps the most widely heralded symbol of the transition from the age of sail to the age of steam—affected longstanding relationships between islands and far-flung imperial possessions.