Статті в журналах: "Creditori sociali"

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Tarini, Federico. "Imposizione «in uscita» e trust a scopo di garanzia (CTR Emilia Romagna, 2 agosto 2021)." Trusts, no. 3 (June 1, 2022): 483–87. http://dx.doi.org/10.35948/1590-5586/2022.117.

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Massima Il trust autodichiarato istituito da una società allo scopo di garantire i creditori sociali in vista della richiesta di ammissione della disponente alla procedura di concordato preventivo è esente dall’imposta di donazione in quanto non realizza alcun reale arricchimento di beneficiari.

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2

전, 휴재. "추심소송과 기판력의 주관적 범위 — 추심소송과 채권자대위소송의 비교를 중심으로 —". Korea Association of the Law of Civil Procedure 26, № 2 (30 червня 2022): 139–85. http://dx.doi.org/10.30639/cp.2022.6.26.2.139.

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The collection lawsuit and the subrogation lawsuit of creditors are structurally similar in that they exercise the debtor's rights against the third debtor in the creditor's position. In particular, in the case of a so-called “direct payment” creditor subrogation lawsuit, which has a preferential repayment effect by directly receiving money from a third debtor and offsetting the debtor's return and preserved bonds, it functions similar to a collection lawsuit for the satisfaction of an executive creditor. In addition, if the debtor knows the fact in any circumstances when a lawsuit by subrogation of creditors is filed, the debtor cannot counter the disposition of his rights to the creditor under Article 405 (2) of the Civil Act, which is similar to the effect of the seizure order on the debtor. However, the above two types of litigation reveal significant differences in the status of the legal system, origin of the system, purpose of the system, eligibility of parties, and prohibition of disposition, and considering these differences, attempts to easily apply or infer one legal principle to the other should be avoided. The target judgment comprehensively reviewed the principle of relativity of res judicata under the Civil Procedure Act, the interpretation of provisions on collection lawsuits under the Civil Execution Act, and the degree of legal risk that third debtors can face. As a result, the Supreme Court reached a different conclusion from the attitude of existing precedents on subrogation of creditors regarding the subjective scope of the final judgment of collection litigation, so it is reasonable and valid in terms of the discrimination between the collection litigation and subrogation litigation. In resolving issues such as prohibition of double lawsuit, co-litigation, etc., related to the subjective scope of res judicata in the collection litigation revealed in the target judgment, it is necessary to distinguish from the existing legal principles on creditor subrogation litigation and seek an independent and appropriate interpretation consistent with collection litigation.

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Lartey, Theophilus, and Albert Danso. "Globalization, free markets and investor protection." Economics and Business Letters 9, no. 1 (January 29, 2020): 8. http://dx.doi.org/10.17811/ebl.9.1.2020.8-13.

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Using data from 29 countries, this paper is the first attempt to examine whether economic, political and social integration explain how well investors, both shareholders and creditors, are protected from expropriation by firms. We show that: (i) globalization drives both shareholder and creditor protection; (ii) least restrictive markets rather than paternalistic markets matter particularly for shareholders’ protection; (iii) the globalization-protection nexus favoured only creditors during the crisis; and (iv) our result significantly holds for OECD-member countries.

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4

Ramaswamy, Vinita. "Director interlocks and cross-cultural impact on strategies affecting shareholder–creditor conflicts." Management Decision 57, no. 10 (November 11, 2019): 2693–713. http://dx.doi.org/10.1108/md-10-2017-0956.

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PurposeDirector interlocks, with their extended resources and shared experiences, have the potential power to go beyond the basic role of providing advice and monitoring the activities of an organization. Interlocked directors can have a cross-cultural role in manipulating corporate choices and strategies in several areas, including capital structure, based on learned behavior in their internal company. Shareholders and creditors are the two main capital providers for a company. However, their risk return horizons are very different, and policies that benefit one group may not be optimal to the other. Interlocks can act as carriers of sub-par practices that affect the behavior of several organizations. Such transactional and relational activities may increase short-term value for equity shareholders, but increase the risk for the creditors. The purpose of this paper is to examine cross-cultural effects of interlocks on corporate strategies that affect this essential agency relationship.Design/methodology/approachThis paper surveys the extant literature on board interlocks, board practices, equity valuation and credit risk to develop a link between such interlocks and creditor protection. Based on a brief survey of the central concepts of governance and the role of directors, this paper then provides various propositions on the role of interlocking directorships and their effect on the shareholder–creditor agency problem.FindingsDirector interlocks, through their linked common practices, have the potential to increase or worsen shareholder–creditor conflicts by magnifying strategic practices like short-termism, earnings management or through its effects on chief executive officer compensation. Such cross-cultural effects persist across ownership structures and cultural differences in governance.Research limitations/implicationsThe paper is not an empirical study of the conflict. This paper uses a literature review to arrive at propositions that may impact shareholder–creditor conflicts.Practical implicationsSeveral studies have shown cronyism and the dense corporate network has been a large factor in the financial crisis that affected both shareholders and creditors. As the influence of creditors grows with the current availability, and therefore increase in debt levels, this conflict can be magnified through homophily inherent in interlocks. For an organization to be successful in its role of protecting all stakeholders, especially the two major providers of equity capital, factors that cause conflicts must be taken into account while developing the tenets of governance policies and, on a regular basis, during the strategic planning process within the organization. Regulations affecting interlocks, including governance policies, must therefore take into account such influences.Social implicationsBoard interlocks act as channels of information between companies, creating a social network where processes and polices are shared and implemented as defined by the concept of homophily. Such management actions reduce both the quality of information available to creditors and their monitoring capabilities. This juxtaposition of shareholder and creditor interest can, therefore, be worsened by director interlocks.Originality/valuePrior literature has not specifically linked director interlocks and their mutual impact on the culture and strategy of linked corporations to the shareholder–creditor conflict.

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5

Tonelli, Annapaola. "Il trustee sempre più protagonista nelle strategie concorsuali: il peculiare caso di un concordato bolognese." Trusts, no. 6 (December 1, 2022): 1158–62. http://dx.doi.org/10.35948/1590-5586/2022.228.

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Sunto Nell’ambito di un concordato preventivo ex art. 161, comma 2 e 3 L.F., il Tribunale di Bologna ricorrere al trust di scopo per risolvere un delicato conflitto di interessi a carico della classe dei creditori obbligazionisti, risultanti anche gli acquirenti all’asta dell’intero capitale sociale dell’impresa in concordato, per il tramite di una Newco Lussemburghese costituita ad hoc. Per la prima volta in Italia, piano e proposta concordataria sono stati presentati al ceto creditorio a firma di un trustee, del tutto terzo rispetto alla Newco acquirente e all’impresa in concordato. Grazie al trust istituito, la Newco ha potuto votare all’adunanza dei creditori alla quale diversamente sarebbe stata esclusa ex art. 177, comma 4, L.F. Gli elementi di internazionalità presente nell’operazione complessiva hanno comportato l’espletamento di una accurata procedura di verifica ex L. 21 novembre 2007, n. 231.

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6

Jokubauskas, Remigijus, and Mykolas Kirkutis. "Representation of Creditors in Corporate Bankruptcy Proceedings." SOCRATES. Rīgas Stradiņa universitātes Juridiskās fakultātes elektroniskais juridisko zinātnisko rakstu žurnāls / SOCRATES. Rīga Stradiņš University Faculty of Law Electronic Scientific Journal of Law 1, no. 16 (2020): 24–29. http://dx.doi.org/10.25143/socr.16.2020.1.024-029.

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The article focuses on representation of creditors in corporate bankruptcy proceedings. It discusses social and economic needs for creditor representation in corporate bankruptcy proceedings and why it shall be effective. Also, the authors analyse how creditors can participate and vote in meetings of creditors. This article focuses on electronic voting and virtual meetings of creditors. The authors assess what regulation of electronic voting and virtual meetings exist in various bankruptcy laws and how it shall be compatible with the main principles of bankruptcy law. Šajā rakstā par kreditoru pārstāvību korporatīvā bankrota procedūrās tiek apspriestas kreditora pārstāvības sociālās un ekonomiskās vajadzības korporatīvās bankrota procedūrās un to efektivitāte, kā arī tiek analizēts, kā kreditori var piedalīties un balsot kreditoru sapulcēs. Šajā rakstā tiek akcentēta elektroniskā balsošana un virtuālās kreditoru sanāksmes. Autori izvērtē, kāds regulējums attiecībā uz elektronisko kreditoru balsošanu un virtuālajām sanāksmēm pastāv dažādos likumos par bankrotu un kā tam jābūt saderīgam ar galvenajiem bankrota likuma principiem.

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7

Ariqah, Putri, and Siti Anisah. "ARRANGEMENT OF BANKRUPTCY DEBT REPAYMENT TOWARD EMPLOYEES IN INDONESIA AND GERMANY." Indonesia Private Law Review 3, no. 1 (June 29, 2022): 53–68. http://dx.doi.org/10.25041/iplr.v3i1.2598.

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Employees have special rights in the settlement of bankrupt debts to obtain their rights as regulated in the Indonesian Bankruptcy Law. However, employees must compete with other creditors who also have privileges under bankruptcy law, such as the tax office, insurance policy holder, and bankruptcy fees. Due to the existence of several special creditors, employees do not get their rights in the first order as regulated in the labor law. This study aims to determine the mechanism for filing bankruptcy against debtors in terms of legal entities and the position of employees in paying bankruptcy debts compared to other creditors in the Indonesian and German legal systems. This type of research is normative legal research conducted by examining library materials or secondary data. This study analyzes the mechanism for filing bankruptcy against debtors as legal entities according to the Indonesian and German legal systems which are divided into 3 (three) stages, namely registration, trial, and implementation of the bankruptcy decision. The position of employees in the settlement of bankrupt debts differs between Indonesia and Germany. In Indonesia, for the payment of ''wages'', the position of employees has a ''privilege'' which takes precedence over other creditors. However, for the settlement of ''other rights'' owned by employees, they do not have a privileged position as wages, so they are not included in priority payments. Whereas in Germany, there is a special feature called “bankruptcy money” where the payment of three months' wages will be paid at the preliminary stage of the bankruptcy proceedings. In addition, the position of rights to the social plan, the position of employee receivables are payments that are prioritized over other creditors. Finally, rights that are not included in the bankruptcy money, whose position in a settlement is after the demands of the creditor whose position is higher than the unsecured creditor have been fully fulfilled.

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8

Brown, Richard. "Will Japan Become a Global Power?" Asian Journal of Social Science 35, no. 3 (2007): 340–51. http://dx.doi.org/10.1163/156853107x224277.

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AbstractMany have argued that Japan will soon emerge as one of the world's greatest powers. During the nineteenth century, Japan had pressed for pre-eminence in Asia and beyond. Does this earlier military expansion and more recent economic dynamism indicate Japan's desire and capacity to play the role of a great power? Japan's regional economic and diplomatic activity, her prominence in such international bodies as the IMF and the World Bank, her status as a leading creditor and technological innovator, all suggest that she does. Just as Britain and the United States created and dominated international systems when they were leading creditors, perhaps Japan in its turn will become a global power.

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9

Sgambati, Stefano. "Who owes? Class struggle, inequality and the political economy of leverage in the twenty-first century." Finance and Society 8, no. 1 (April 22, 2022): 1–21. http://dx.doi.org/10.2218/finsoc.7115.

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The prevalent consensus in critical social sciences is that finance articulates the world economy as a global hierarchy of creditor-debtor relations that reproduce and further aggravate existing income and wealth inequalities. Class struggle is correspondingly understood as a conflict between elite creditors, who are members of the global top 1% of wealth holders, and mass debtors, who are burdened by growing costs of servicing public and private debts. This article offers an alternative understanding of how debt, inequality and class relate to one another. At its basis is the recognition that over the past four decades, finance has empowered upper class borrowers, including the top 1%, as it has magnified their capacity to generate capital gains and capture greater wealth and income shares via levered-up investments and other forms of positioning in financial and property markets. The article thus provides a political economy of leverage as power, showing how contemporary global finance has not given shape to a distributional conflict between creditors and debtors as two distinct classes, but instead has set debtors against debtors, and namely the greater borrowers against the lesser ones.

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10

Vidal, Lorenzo. "The politics of creditor–debtor relations and mortgage payment strikes: The case of the Uruguayan Federation of Mutual-Aid Housing Cooperatives." Environment and Planning A: Economy and Space 50, no. 6 (May 6, 2018): 1189–208. http://dx.doi.org/10.1177/0308518x18775107.

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Mortgage debt and concomitant forms of financial expropriation continue their largely uncontested expansion across the social terrain. The atomisation of debtors and commodity fetishism are two key factors that underpin this process. The collective and partially de-commodified character of mutual-aid housing cooperatives in Uruguay and their conflict-ridden mortgage debt relations provide a contrasting, reverse mirror image. This paper analyses how in the case of a collective debtor, the spatial fixity and temporal uncertainties that result from the establishment of mortgage debt relations can work against the creditor. Housing cooperatives make up a geography of spaces that are opaque to the creditor, in the sense that mortgage debtors cannot be individually identified and pursued. Once homes are constructed and inhabited, the creditor’s debt claims can be collectively challenged. In the context of the most recent mortgage payment strike (2001–2011) carried out by the Uruguayan Federation of Mutual-Aid Housing Cooperatives, what is presumed a voluntary contract between equal parties is revealed as a power struggle between owners and non-owners of capital. This atypical case provides an opportunity to empirically attest to the political nature of creditor–debtor relations, often rendered socially invisible due to the extreme power imbalance between counterparties.

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Julianita Koto, Sri Eni. "Pengalihan Kreditur Melalui Ceasie (Studi Kasus Pada Koperasi Simpan Pinjam Indosurya)." Jurnal Perspektif Hukum 2, no. 1 (March 19, 2021): 1–14. http://dx.doi.org/10.35447/jph.v2i1.268.

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The state of liquidation of each bank and non-bank financial institution is strongly affected by social and economic conditions, both on a national and international scale. In order for lending (loans) to continue to run, it is known that the accounts receivable transfer agency is known as cessie. Based on Article 613 of the Civil Code, it is stated that the delivery of receivables in the name and other bodily objects is carried out by making an authentic deed or deed under the hands of which the rights to property are delegated to others. The delivery of these receivables has no effect on the debtor before delivery is notified and approved in writing or acknowledged by the Debtor / Borrower. The existence of an authentic deed or underhand deed is needed as a way of transferring or transferring ownership rights over the receivables in question from the creditor to a third party. The role and authority of a Notary in the making of cessie documents, as regulated in the notary office law, namely "Notary is a public official who has the authority to make authentic deeds and has other powers as referred to in the notary office law. Receivables transferred by cessie are a claims held by creditors against their debtors which are claims on behalf of. In principle, a bill in the name shows clearly and definitely about the creditor who is entitled to receive payment. This occurred in the transfer of accounts receivable between the Indosurya Savings and Loans Cooperative (Old Creditors) and Indosurya Inti Finance (As the new creditors). The transfer of accounts receivable that occurs between the Indosurya Savings and Loans Cooperative and Indosurya Inti Finance has a legal effect on the collateral binding that has been installed by the mortgage and has legal consequences for the borrower / debtor of the Indosurya savings and loan cooperative who switches from the Cooperative Borrower who is subject to the regulations of the Ministry of Cooperatives and Small Business and Medium to become Indosurya Inti finance debtors who are subject to the regulations of the Financial Services Authority.The problems in this research, among others: How is the transfer of accounts receivable by cessie and the consequences for guarantees of mortgage rights, How is the implementation of collection of accounts receivable (cessie) made with a notary deed, How is the implementation of cessie in indosurya savings and loan cooperatives. The problems in this study include: How is the transfer of accounts receivable by cessie and the consequences for guarantees of mortgage rights, How is the implementation of collection of accounts receivable (cessie) made with a notary deed, How is the implementation of cessie in indosurya savings and loan cooperatives. This research uses legal certainty theory and legal protection theory. This research uses normative legal research methods that are descriptive in nature, the data sources of this study can be divided into primary data and secondary data. Primary data was conducted in order to obtain field research through interviews with informants. Library research is carried out by reading books, journals, and laws and regulations. The results showed that. The transfer of accounts receivable (Cessie) between the old creditor and the new creditor which is guaranteed by the mortgage right causes the mortgage to also be transferred. The law states that if the receivables secured by mortgage rights are transferred due to cessie, subrogation of mortgage rights is also transferred due to the law. The role of a notary in the production of a cessie deed is the same as that of other deeds made by a notary. As a deed made before / made by a Notary Public has Construction, namely the Authority, requirements and procedures that must be carried out by the Notary Public. . The implementation of Accounts Receivable Transfer (Cessie) between the Indosurya Savings and Loan Cooperative and Indosurya Inti Finance has legal consequences for both the borrower and the new creditor (cessionaris). The implementation of the cessie has not been carried out as it should be regulated in the provisions of the law. Accounts receivable transfer is only carried out in an operational system, debtor loans are transferred to the operational system of Indosurya Inti Finance. Accont management (loans) is still maintained by the Indosurya Savings and Loans Cooperative. this causes losses incurred on the borrower (Debtor) and results in legal uncertainty. Article 16 of the mortgage rights law confirms that receivables are transferred due to cessie, and the mortgage rights are transferred due to law to new creditors. In the implementation of the cessie between Indosurya savings and loan cooperatives and the core indosurya finance, the mortgage rights have not been registered again. The deviation from the practice of implementing this cessie is not mentioned in the law, namely Article 16 of Law No. 4 of 1996. In juridical terms, the absence of the transfer of the security right causes the cessei agreement to be null and void or it is assumed that the transfer of accounts receivable has not yet occurred. In a sociological view, the non-registration of mortgage rights does not make the cessie cancel. The agreement has no material rights, because material rights have the principle of publicity. Publicity principle is a security right that must be registered. So that creditors change from preferred creditors to become concurrent creditors

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Rodrigues, Lisbeth. "Debt Litigation and the Performance of Law Courts in Eighteenth-Century Portugal." Journal of Interdisciplinary History 50, no. 2 (August 2019): 237–64. http://dx.doi.org/10.1162/jinh_a_01411.

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Theoretically, the extent to which the eighteenth-century Portuguese legal system was able to enforce loan contracts should be evident from the duration of the court proceedings and the execution of the collateral that secured the loans. Yet, data from a newly assembled data set that includes the contracts established by the Lisbon Misericórdia—the major lay brotherhood in Portugal and a leading creditor in the city—as well as 990 lawsuits from its private court of law (exclusive jurisdiction) have a different story to tell about the complex mechanisms behind the lending activities of the institution. Notwithstanding the reasonably rapid resolution of its cases and its routinely successful execution of collateral, the Misericórdia’s law court was powerless to solve the problem of default or to safeguard lenders’ property rights. The membership of creditors and debtors in the Misericórdia tended to undermine cooperation rather than enhance it, challenging the assumption that cohesive groups hold high levels of social capital.

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Purwasari, Endang. "Dicatet Mak!" Emik 3, no. 1 (June 20, 2020): 17–35. http://dx.doi.org/10.46918/emik.v3i1.483.

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Debt has been a common phenomenon in people’s lives, both in the big cities, as well as in remote areas. This debt activity has been internalized into people's lives so that it cannot be separated no matter how small. There are quite a number of existing related literatures that deal with this. However, debt is only seen as a means to meet the daily needs of debtors, in which the relationship between creditors and debtors is not far enough studied. The study related to the relationship between creditors and debtors (if any) is still limited. This article seeks to complement the existing literature by examining debt and credit cyrcle that create new relationships in the spectrum of oil palm plantation employees. This ethnographic study takes place in the housing complex of oil palm plantation employees in Kebun Sei Muara, Kalimantan Island. It involved 26 female informants consisting of six women workers, six housewives, and fourteen female traders. Data was collected using in-depth interview in order to explor the reasons for debt, reason for giving debt, the implication of debt, and how parties are related to debt. While participatory observation is carried out by participating in the daily activities of the Kebun Sei Muara community, such as shopping at a food stall, attending parties, helping in various parties, gossiping, social gathering, etc. The study indicates that debt has become the foundation of reciprocity relations in Kebun Sei Muara. This debt is carried out for from daily needs to the need for making life cycle parties, which involve not only the poor, but also rich people. This creates a reciprocal bond between the debtor and the creditor, the host and the guests, as well as creates balanced reciprocity between them. This relationship raises an obligation for both actors involved to give and return the contribution for the attending parties. In this context, there is a norm that requires them to come to provide contribution in the form of money and/or goods to the host, and expecting to have a balanced reciprocity in return. The higher the status, the bigger the party, the more debts the host make, and the return contribution will be used to pay for the debt. The higher the status, the more contribution the guests have to provide, though it depends on the closeness between the host and the guests, as well their previous contribution. Community members, who do not participate in the debt circle, will automatically be ostracized from social activities and are considered as “the others”. Conflict potentially occurs between debtor and creditor when payment is neglected, but this is depended on how the creditor responds to it. It is common, however, that this may be impacted on the future relationship not only between the two, but also with others in the Kebun Sei Muara.

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14

Zarzycki, Adam. "Directions of Change in the Regulation of the Notion of Insolvency under the Polish Bankruptcy Law." Roczniki Nauk Prawnych 28, no. 3 ENGLISH ONLINE VERSION (October 28, 2019): 129–50. http://dx.doi.org/10.18290/rnp.2018.28.3-8en.

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The study outlines three concepts of legal regulation of the concept of insolvency based on the pre-war bankruptcy law, the bankruptcy and reorganization law and the new bankruptcy law in force today. The aim is to capture the overall direction of the optimal model of regulation. The concept of insolvency, which determines the possibility of opening bankruptcy proceedings, is of key importance here. Bankruptcy, which typically entails stigmatisation of an undertaking to a lesser or greater degree, has a negative impact on its social and economic environment. A declaration of bankruptcy is, albeit imperfect, an alternative to a singular enforcement, which leads to the satisfaction of one creditor at the expense of the others. The legal regulation of insolvency should weigh up the interests of the debtor and his creditors. The new “philosophy” of understanding the notion of insolvency can be partly reconciled with the achievements of the pre-war bankruptcy law. At the same time, the legislator should be open to new solutions, which are in step with the practice of law enforcement.

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Širaňová, Mária. "European Banking Network in Light of the Single Supervisory Mechanism from the Network Analysis Perspective." Financial Assets and Investing 6, no. 1 (January 31, 2015): 35–57. http://dx.doi.org/10.5817/fai2015-1-2.

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In this paper we discuss the topological properties of the European banking network and its evolution over time based on the BIS consolidated banking statistics data exploiting information from complex network analysis. Our conclusions are discussed in light of the soon-to-be-launched Single Supervisory Mechanism that takes into account, among other things, the significance of cross-border activity as a precondition for specifying the systemically important European credit institutions. According to our results, the banking network of the EU13 economic space can be characterized as highly asymmetric with a tendency to create clusters based on geographic distance and cultural and social similarities. Additionally, the highly exposed countries are usually dependent on a small number of major creditors while creditor countries tend to spread their power over dependent countries more equally. We advocate that the presence of heterogeneity and asymmetry in the network and a decrease in the level of foreign banking across Europe could be mitigated by the introduction of SSM, and from this perspective it should be viewed as a positive step towards greater financial stability.

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Anderson, Helen. "Corporate Social Responsibility—The Case for Unsecured Creditors." Oxford University Commonwealth Law Journal 7, no. 1 (January 2007): 93–124. http://dx.doi.org/10.1080/14729342.2007.11421479.

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Jiang, Dongshu, ZhiXing Ni, Yuxiu Chen, Xue Chen, and Chaohong Na. "Influence of Financial Shared Services on the Corporate Debt Cost under Digitalization." Sustainability 15, no. 1 (December 27, 2022): 428. http://dx.doi.org/10.3390/su15010428.

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Information technologies such as big data and artificial intelligence promote the development of the digital economy, accelerate the digital transformation of enterprises, and continuously facilitate the reform of enterprise production, organization, and management. This study takes Chinese A-share listed companies on the Shanghai and Shenzhen stock exchanges as a sample to examine the influence of financial shared services on the corporate debt cost under the digitalization background based on the perspectives of stakeholders such as creditors, shareholders, and society. This study found that financial sharing can reduce the corporate debt cost. The path mechanism test finds that financial sharing reduces the corporate debt cost mainly by improving the quality of corporate accounting information and decreasing financial risk. The result shows that the effect of financial sharing on reducing the corporate debt cost is positively moderated by enterprise digitalization. Further analysis based on the stakeholder perspective shows that the effect of financial shared services on reducing the corporate debt cost is enhanced by the equity balance and social responsibility fulfillment. The findings provide insights and evidence on how to use financial shared services to improve debt management and enhance creditor protection in the digital context.

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Erragragui, Elias. "Do creditors price firms’ environmental, social and governance risks?" Research in International Business and Finance 45 (October 2018): 197–207. http://dx.doi.org/10.1016/j.ribaf.2017.07.151.

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Boachie, Christopher, and Joseph Emmanuel Tetteh. "Do creditors value corporate social responsibility disclosure? Evidence from Ghana." International Journal of Ethics and Systems 37, no. 3 (July 3, 2021): 466–85. http://dx.doi.org/10.1108/ijoes-11-2020-0181.

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Purpose Drawing on risk mitigation theory, this study aims to examine the link between corporate social responsibility (CSR) disclosure and the cost of debt financing (CDF). In particular, this paper seeks to determine whether firms with higher CSR disclosure scores have a lower CDF. Design/methodology/approach This paper uses a panel data analysis of non-financial Ghanaian firms listed on the Ghana Stock Exchange from 2006 to 2019. The CSR index constructed from firms’ annual reports and sustainability reports is used as a proxy for the extent of CSR information disclosures by Ghanaian companies. Findings The empirical results demonstrate that CDF is positively related to CSR disclosure scores. Besides, the results show that the levels of long-term debt increase with CSR disclosure in a highly risky industry. However, the finding does not meet the lenders’ expectations in terms of CSR attracting favourable debt financing sources. Research limitations/implications The research is based only on the quantity of the CSR information disclosed by Ghanaian companies and does not account for the quality of the CSR disclosures. The empirical model omits some control variables such as the age of the firm and external business conditions. The results should not be generalized, as the sample was based on three listed industries in Ghana for 2006–2019. Originality/value This study extends the scope of previous studies by examining the importance of CSR disclosures in financing decisions. More precisely, it focuses on the relatively little explored relationship between the extent of CSR disclosures and access to debt financing. Moreover, this study focuses on the rather interesting empirical setting of Ghana, which is characterized by its low level of CSR awareness. Achieving a better understanding of the effects of CSR information is useful for corporate managers desiring to meet lenders’ expectations and attract debt financing sources.

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Best, Shaun. "Leeds United and football's super creditors." Soccer & Society 11, no. 5 (September 2010): 659–67. http://dx.doi.org/10.1080/14660970.2010.497368.

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21

Bokwa, Krzysztof, and Iwo Jarosz. "The historical development of anti-usury laws in Austria and Poland." Fundamental and applied researches in practice of leading scientific schools 40, no. 4 (September 30, 2020): 18–26. http://dx.doi.org/10.33531/farplss.2020.4.3.

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Virtually all modern legal system attempts to balance the interests of debtors and creditors. Both categories of parties are equipped with instruments protecting their interests where the law (precisely: the social and moral convictions prevalent in the society that tend to determine the content of the law) deems such protection justified. Just as creditor protection concentrates on dealing with dishonest debtors and preventing fraud, debtor protection has been crafted to shield debtors from abusive interest rates or other – excessively detrimental – contractual provisions (e.g. clauses that unconscionably expand debtors’ liability or render their defences effectively inoperative). Such practices, especially charging excessive interest, have been called usury. In contemporary Polish law the system of debtor protection is multi-layered, with various instruments whose scope often overlaps. That such system exists and how it operates is a direct result of the historical development of instruments aimed at combating usury. This text aims to recapture how anti-usury legislation developed in Austria, whose legal system is closely related to Polish, and to describe how legal systems tend to arrive at very similar outcomes – notwithstanding the differences in the globality of circumstances. The authors employ legal comparative and historical methods, supplanted by formal-dogmatic ones, to present the evolution of anti-usury legislation in Austria as well as the state of anti-usury private law legislation in Poland.

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Asmara, Teddy. "The Reflection of Highest Value of Islam in the Protection of Debtors in Execution of Separatist Creditors." Jurnal Akta 9, no. 2 (June 28, 2022): 157. http://dx.doi.org/10.30659/akta.v9i2.21053.

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The execution by separatist creditors without going through court proceedings as regulated in Article 55 and Article 56 of Act No. 37 of 2004 is contrary to the justice of Pancasila. The method used was a non-doctrinal method. Based on the data obtained, it can be seen that the execution of bankruptcy as regulated in Article 55 and Article 56 of Act No. 37 of 2004 prioritizes the interests of separatist creditors, this is further complicated by the existence of a legal culture which shows that the execution of bankruptcy with collateral rights without having to go through bailing in court, the meaning of debtor insolvency should be an examination in court or through bailing related to the debtor's ability to pay off his debts, not solely based on the analysis and views of separatist creditors alone. This is clearly implicitly based on Article 28D of the 1945 Constitution of the Republic of Indonesia and automatically contradicts the values of Pancasila social justice. This means that in the legal policy of bankruptcy execution, it must be able to create a balance of protection of rights between creditors and debtors, in accordance with the view of respect for human values or human rights awards in the form of equality before the law so as to be able to realize social justice execution of bankruptcy that is able to protect the interests of separatist creditors while protecting debtors.

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23

Christiano, Lawrence, and Daisuke Ikeda. "Bank Leverage and Social Welfare." American Economic Review 106, no. 5 (May 1, 2016): 560–64. http://dx.doi.org/10.1257/aer.p20161090.

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We describe a general equilibrium model in which an agency problem arises because bankers must exert an unobserved and costly effort to perform their task. Suppose aggregate banker net worth is too low to insulate creditors from bad outcomes on their balance sheet. Then, banks borrow too much in equilibrium because there is a pecuniary externality associated with bank borrowing. Social welfare is increased by imposing a binding leverage restriction on banks. We formalize this argument and provide a numerical example.

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24

Devi, Ria Sintha, Nanci Yosepin Simbolon, Lestari Victoria Sinaga, and Muhammad Yasid. "The Bankruptcy Legal Politics in Indonesia based on Justice Value." Jurnal Akta 9, no. 1 (March 31, 2022): 67. http://dx.doi.org/10.30659/akta.v9i1.20842.

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The purpose of this study is to find out and analyze the politics of bankruptcy law in Indonesia based on Justice Value, and the problems that occur in its application. The approach method in this study uses a normative juridical approach. The application of legal politics with the concept of justice in the settlement of bankruptcy cases can be interpreted as a condition where the debtor stops paying his debts that have matured so that by the decision of the Commercial Court his assets are declared as general confiscation to be sold by the curator and distributed to his creditors in a fair and balanced manner according to the proportion with the supervision of the supervisory judge. The confiscation is carried out to ensure the interests of all creditors and prevent executions that are requested by individual creditors. Bankruptcy only concerns the general confiscation of the assets of the bankrupt debtor, excluding civil rights outside of property law, civil rights, public rights and social rights in social life in society.

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25

Patau, Josep, Antonio Somoza, and Salvador Torra. "Diagnosis of the Domino Effect in Bankruptcy Situations Through Positioning Maps and Their Evolution 10 Years Later." SAGE Open 10, no. 4 (October 2020): 215824402096525. http://dx.doi.org/10.1177/2158244020965250.

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This work aims to describe how the insolvency of a firm affects other business creditors. Through a sample of small and medium entities in Catalonia for the biennium 2004–2005, the situation of creditors before and after the legal event (insolvency proceedings) has been studied. The results confirm the existence of a substantial change in the composition of the financial structure of these firms (substitution of long-term debt by short-term debt; decrease in solvency and profitability, increase in financial charge, among others) and, therefore, the contagion of liquidity problems. The study covers 2 years before and after the insolvency and is dynamic in the sense that it highlights how the creditors change their source of finance and the ending situation. The main contributions of the object are the effect of insolvency on other companies closely related and also the technique used—multidimensional scaling.

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Handoko, Widhi. "DEBTOR PROTECTION IN PERSPECTIVE OF PANCASILA JUSTICE VALUE ON SEPARATIC CREDITOR EXECUTIONS." International Journal of Law Reconstruction 5, no. 1 (May 20, 2021): 93. http://dx.doi.org/10.26532/ijlr.v5i1.15577.

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Анотація:

The execution of the execution by separatist creditors without going through court adjudication as stipulated in Article 55 and Article 56 of Act No. 37 of 2004 is contrary to Pancasila justice. The method used in this research is a non-doctrinal method. Based on the data obtained, it can be seen that the implementation of bankruptcy executions as regulated in Article 55 and Article 56 of Act No. 37 of 2004 prioritizes the interests of separatist creditors, this is further complicated by the existence of a legal culture that shows that bankruptcy executions are guaranteed with mortgage rights. Without having to go through an amazing in court, the meaning of the debtor's insolvency should be an examination in court or through amazing regarding the debtor's ability to pay off his debt, not solely based on the analysis and views of the separatist creditors. This is implicitly based on Article 28D of the 1945 Constitution of the Republic of Indonesia and automatically contradicts the values of Pancasila social justice. This means that in the legal policy of bankruptcy execution, it must be able to create a balance of protection of rights between creditors and debtors, by the view of appreciation for human values or human rights awards in the form of equality before the law to be able to realize a just bankruptcy execution that can protect the interests of separatist creditors while protecting debtors from losses resulting from bankruptcy.

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Chakravarty, Ishita. "Owners, creditors and traders: Women in late colonial Calcutta." Indian Economic & Social History Review 56, no. 4 (October 2019): 427–56. http://dx.doi.org/10.1177/0019464619873800.

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This article tries to reconstruct the world of the property-owning, mortgage-holding and money-lending women in late colonial Bengal and especially in Calcutta, the commercial capital of British India until the First World War. It argues that as all poor women occupying the urban space were not either sex workers or domestic servants, similarly all middle-class women in colonial Calcutta were not dependent housewives, teachers and doctors. At least a section of them engaged in other gainful economic activities. However, existing scholarship sheds very little light on those women who chose other means of survival than the bhadramahila: those who bought and sold houses, lent money for interest, acquired mortgages, speculated in jute trade and even managed indigenous banking business. Evidence of court records suggests that they, along with the lady teacher, the lady doctor, the midwife and the social worker or later members of political organisations, could be found in considerable numbers in late colonial Calcutta. Due to the enactment of stringent laws to control moneylending, on the one hand, and the commercial decline of Calcutta, on the other hand, these women were possibly driven out of the shrinking market of the 1940s and 1950s.

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Gunawan, Juniati. "Determinant Factors of Corporate Social Disclosures in Indonesia." Issues In Social And Environmental Accounting 7, no. 2 (June 30, 2013): 113. http://dx.doi.org/10.22164/isea.v7i2.78.

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Indonesia as one of the big developing countries has been responding rapidly to the issue of Corporate Social Disclosure (CSD). This can be seen from the CSD section in the listed companies’ annual reports which keep increasing throughout the years. However, there are still inconclusive findings in factors that determine the extent of CSD. Based on a comprehensive research, therefore, this paper examines some selected factors in their relations to the extent of CSD, both quantitatively and qualitatively. Corporate annual reports for the year 2003 to 2006 were examined to verify the CSD practices by applying a content analysis method and multiple regression analysis. Then, firm’s characteristics (category, size, financial performances, age), and group influential (creditors, auditors, owners) were analysed to seek their significant relationships to the extent of CSD. The findings show that (1) there was no significant influence of ‘company type’ to the extent of CSD; but ‘company status’ was significantl y influence CSD (2) ‘company size’, ‘financial performances’, ‘age’, and ‘auditors’ influences’ were found to have significant positi ve influences to the extent of CSD; (3) ‘Owners’ influence’ correlated positivel y rather than negati vely to CSD; and (4) Mixed results were provided by the ‘creditors’ influence’ throughout the years. The overall correlations between predictor and criterion variables are considered to be low to moderate, varied from 0.463 to 0.607 for correlation coefficients (R) and 0.215 to 0.368 for determinant coefficients (R2) in the regression model.

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29

Mbila, Augustus Mutemi. "From Debtor Repression to Protection: Giving Debtors a Fresh Start under the Kenyan Insolvency Regime." Eastern Africa Law Review 49, no. 1 (June 30, 2022): 92–121. http://dx.doi.org/10.56279/ealr.v49i1.3.

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Anchored on the normative foundations of the fresh start policy, this article examines the treatment of bankrupts under Kenya’s repealed Bankruptcy Act, Cap 53 Laws of Kenya and then traces the elements of the fresh start policy under the Insolvency Act of 2015 repealed Cap 53. Results show that Cap 53 was repressive against the bankrupt and he was never given a second chance in his economic and social life for the benefit of his creditors. Results also show that under the Insolvency Act of 2015, the bankrupt has a second chance to run his businesses as a going concern and can therefore pay his creditors from the proceeds of those businesses. The paper concludes that the Insolvency Act of 2015 breathes fresh life to the bankrupt and inspires optimism in creditors that their debts stand a better chance to be paid than was the the case under the repealed Act. Key Words: Bankruptcy Law; Repression; Protection; Fresh Start; rehabilitation; discharged debtor, Kenya.

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30

Child, James W. "The Limits of Creditors' Rights: The Case of Third World Debt." Social Philosophy and Policy 9, no. 1 (January 1992): 114–40. http://dx.doi.org/10.1017/s0265052500003629.

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At present, Third World countries owe over one trillion dollars to the developed Western nations; much of the debt is held by the leading international commercial banks. The debt of six Latin American countries alone — Argentina, Brazil, Chile, Mexico, Peru, and Venezuela — is over $330 billion, of which $240 billion is owed to commercial banks. Let us immediately narrow our focus to loans made by the major international commercial banks to Third World governments. We shall not be concerned with government-to-government loans, or private-party-to-private-party loans, or with debt owed to the World Bank or the International Monetary Fund. The bank-to-government loans — the so-called “sovereign loans” — are the most economically troublesome and morally interesting. The largest lenders, at least with respect to the Latin American countries, are the American banks Citibank, Chase Manhattan, Bank of America, Manufacturers Hanover, and Chemical Bank. About fifteen Third World countries have serious debt problems, including the largest: Brazil, Mexico, and Argentina.

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31

Furió, Antoni. "Rents instead of land. Credit and peasant indebtedness in late medieval Mediterranean Iberia: the kingdom of Valencia." Continuity and Change 36, no. 2 (August 2021): 177–209. http://dx.doi.org/10.1017/s0268416021000138.

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AbstractThe literature on the rural economy of the high and late Middle Ages has long established a close correlation between three significant features of the period: the spread of rural credit, the dynamism of the peasant land market and the expropriation of peasant land by the creditors, usually yeomen or urban landowners. There has even been talk for some countries (northern Italy) of a deliberate strategy of territorial conquest, insofar as the credit provided by urban lenders would aim at the expropriation of land from insolvent debtors. This article studies for the Mediterranean Spain of the late Middle Ages, and in particular for the old kingdom of Valencia, other objectives of rural credit and other alternatives to peasant expropriation in case of insolvency. Based on the rich archival holdings of the region, mainly notarial and judicial records, the article studies the dissemination of rural credit, the different modalities (short and long term), the motivations of creditors and debtors, the types of interest, the guarantors and the goods given as collateral for the loans, their confiscation in case of delay or insolvency. It concludes that, unlike elsewhere, the creditors, rather than in land, were interested in rents, that is, in the annuities paid to them by the debtors as interest on the loans obtained. The spread of long-term credit, therefore, not only did not threaten or subvert but also strengthened a system of land ownership, tenure and management based on regular rents extraction.

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Salihu, Ekrem. "The Right of Pledge on Movable Items (Pignus) in Republic of Kosovo." European Journal of Social Sciences 2, no. 1 (March 30, 2019): 49. http://dx.doi.org/10.26417/ejss-2019.v2i1-55.

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The pledge is an item right based on which its official holder – the pledgee may seek the payment of his/her claims from the item if those aren’t paid within certain time limit. The right of pledge in the Republic of Kosovo constitutes a complex occurrence which has various relations on which at one side is the pledgee creditor, and in the other side are debtor pledgor and other third persons. The role of pledge and its affirmation is related to most qualitative changes of claims. The right of pledge as item right in foreign item (iura in re aliena) makes a history only to a certain degree of economic and social development. In this degree of development there was a need and necessity to secure the other’s claims even de facto, by the hand item, by ”pledging” of an item. The creditor requires that his claims to the debtor be secured by obtaining of a pledge of debtor item. The debtor’s conjunction of creditor by obtaining debtor’s item is safer for the creditor to realize its claims, rather than when the debtor secured these claims by his/her personality, bail, personal insurance. In the Kosovo legal system there is possessory pledge, non-possessory pledge and the pledge over the rights.

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Filandri, Marianna, and Gabriella Paulì. "La finanziarizzazione del bene casa: accesso al credito e disuguaglianze sociali." Quaderni di Sociologia, no. 76 (April 1, 2018): 81–105. http://dx.doi.org/10.4000/qds.1862.

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34

Martino, Edoardo. "The Bail-in Beyond Unpredictability: Creditors’ Incentives and Market Discipline." European Business Organization Law Review 21, no. 4 (May 8, 2020): 789–828. http://dx.doi.org/10.1007/s40804-020-00188-7.

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AbstractThe market discipline of creditors on the risk-taking behaviour of borrowing banks represents a long-lasting debate. Such a debate gained new attention after the post-crisis stream of reforms concerning resolution policy: creditors should be incentivized to make an optimal effort in monitoring their borrowers and, at the same time, their interests have been aligned with the social ones. Many commentators criticized such an expectation especially in the European context, arguing that the lack of credibility and excessive complexity of the resolution mechanism impair the ability and willingness of creditors to exert a disciplining role. This article aims at taking a step forward in this scientific debate, investigating whether the ability to exert disciplining activity is inherently impaired by the design of the Directive. In other words, this research wants to assess if, assuming an ideal environment, creditors would have optimal incentives to monitor banks’ behaviour and to react accordingly. To do so, the article reviews the literature on market discipline, then carries out a legal analysis of the Bank Recovery and Resolution Directive (BRRD), focusing on those norms shaping the market for bail-inable securities. Eventually, the incentives stemming from those norms are discussed, assuming an ideal environment where a bail-in is certain and credible and the market for bail-inable securities works smoothly. The analysis highlights that the incentives of creditors toward market discipline are inherently diluted by the BRRD’s legal design because of competing policy objectives pursued by the Directive. The direct normative consequence of such a finding is that enhancing information and predictability, though desirable in principle, will never lead to an optimal monitoring effort, leaving the floor to alternative rule-based strategies.

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35

Khan, B. Zorina. "“Justice of the Marketplace”: Legal Disputes and Economic Activity on America's Northeastern Frontier, 1700–1860." Journal of Interdisciplinary History 39, no. 1 (July 2008): 1–35. http://dx.doi.org/10.1162/jinh.2008.39.1.1.

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The analysis of markets, courts, and civil litigation on the northeastern frontier of the United States provides a valuable opportunity to assess the evolution of institutions during economic development. The data set pools longitudinal and cross-sectional observations on 30,000 lawsuits filed in Maine during the critical period between 1700 and 1860. The earliest legal institutions moderated both social and economic norms, but courts quickly began to specialize in commercial issues. The residence of debtors and creditors and changes in spatial characteristics over time yield insights into the nature and extent of capital markets and impersonal exchange. The distribution and disposition of property and debt cases indicate that early markets were well developed and orderly; the evidence of “social tension” between debtors and creditors was minimal. The results do not support the standard claim of a transition from interactions based on community norms to impersonal market exchange late in the eighteenth century.

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36

Karpunin, V. I. "Monte commune – debt ascend. The origin of the global system contradiction ‘creditors – debtors’." Vestnik of the Plekhanov Russian University of Economics, no. 2 (April 22, 2019): 12–31. http://dx.doi.org/10.21686/2413-2829-2019-2-12-31.

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The article was first to show that the forerunner of the local contradiction ‘creditors – debtors’ transformation into its global system form was a regular succession of historical events, among which building-up a debt pyramid (debt ascend) acts as a powerful system driver in the field of social, economic and legal relations. In contrast to many fundamental works dealing with the theory of credit and money debt (a stable historical phenomenon) is described as an immanent form of the system contradiction. The mechanism of spreading the global system contradiction ‘creditors – debtors’ in its fundamental social, economic and legal forms predetermines today the process of transforming the local phenomenon ‘debt’ and shaping related interests in the global phenomenon ‘one-polar world and geo-economic factors’ impact on the process of spreading the global system contradiction ‘creditors – debtors’ the author identifies key protection mechanisms, including finance (institutions, tools, procedures). These protection mechanisms are meant for consideration and adoption by the authorized body, i. e. the Security Council of the Russian Federation. Among the mentioned mechanisms two should be highlighted. The primary task is to develop on the basis of system approach methodology mechanisms of asymmetric response to repressions carried out by geo-economic and geo-political opponents of Russia. The task of paramount importance is the development of mechanisms providing necessary conditions for shaping the national elite in the field of politics, science, culture, corporate and state governance.

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37

Romero-Balmas, Gregorio Nůnez. "Cittadini-creditori: municipi e mercati finanziari in Spagna durante il primo trentennio del Ventesimo secolo." STORIA URBANA, no. 119 (February 2009): 101–24. http://dx.doi.org/10.3280/su2008-119006.

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- Modernisation is a complex process that involves several aspects and different scientific disciplines. Social and institutional modernisation, particularly that of municipalities, which took place between the late 19th century and the early of 20ths, involved significant changes over wide areas. These areas range from political and institutional internal reorganisations, to the application of new mass services and infrastructural networksystems, as well as basic social and organizational changes. In the following pages we study the measures taken by a wide segment of Spanish municipalities as part of their internal modernization processes shortly after the critical events of the late 19th century. To do this, they made use of the emerging financial markets by raising additional funds, and more precisely, by regularly emitting public debt. In this article we will show how the use of formal market debt involved certain preconditions to be carried out by the emitting organisms, and the underlying advantages to be had. Financial leverage obtained by using market facilities became a powerful instrument for local change in Spain that where up to that time no change had been possible. But the financial crisis of the 1930s and the later Civil War set a downward course in the modernisation process and even in the use of financial markets by Spanish municipalities.

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38

SALIHU, Ekrem. "The Right of Pledge on Movable items (Pignus) on Republic of Kosovo." PRIZREN SOCIAL SCIENCE JOURNAL 4, no. 1 (April 30, 2020): 42–49. http://dx.doi.org/10.32936/pssj.v4i1.139.

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Анотація:

The pledge is an item right based on which its official holder – the pledgee may seek the payment of his/her claims from the item if those aren’t paid within certain time limit. The right of pledge in the Republic of Kosovo constitutes a complex occurrence which has various relations on which at one side is the pledgee creditor, and in the other side are debtor pledgor and other third persons. The role of pledge and its affirmation is related to most qualitative changes of claims. The right of pledge as item right in foreign item (iura in re aliena) makes a history only to a certain degree of economic and social development. In this degree of development there was a need and necessity to secure the other’s claims even de facto, by the hand item, by ”pledging” of an item. The creditor requires that his claims to the debtor be secured by obtaining of a pledge of debtor item. The debtor’s conjunction of creditor by obtaining debtor’s item is safer for the creditor to realize its claims, rather than when the debtor secured these claims by his/her personality, bail, personal insurance. In the Kosovo legal system there is possessory pledge, non-possessory pledge and the pledge over the rights. Key word: The Right of Pledge, Pignus, Mortgage, Pledge Object, Pledge Principles, Titles for Obtaining the Right of Pledge by the Hand Item.

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39

Fox, Lorna. "Creditors and the concept of ‘family home’: a functional analysis." Legal Studies 25, no. 2 (July 2005): 201–27. http://dx.doi.org/10.1111/j.1748-121x.2005.tb00613.x.

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The concept of home has attracted considerable critical attention in recent decades across a broad range of social science disciplines. Analysis of ‘home meanings’ provides important evidence of the values which people attach to property that they occupy as a home. This evidence could be utilised to argue that home represents a site of special significance, deserving some additional protection in law, over and above other property types. Where such arguments have been considered in English law, the tendency has been to confer special status on the family home rather than on home per se. This article identifies several weaknesses, both practical and conceptual, with the application of ‘family home’ analysis in the context of creditor/occupier disputes. The article proceeds to consider whether ‘family home’ is sufficiently attractive as a central organising concept in policy discourse to outweigh the specific criticisms outlined. An alternative and, it is argued, more desirable solution would be to approach the issue of security of tenure in the owner-occupied home from a more individualistic, rather than family-centric, perspective.

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40

Lorandi, Giacomo. "Immobili e traiettorie sociali. La famiglia Pernate nella Novara spagnola." STORIA URBANA, no. 168 (November 2021): 31–50. http://dx.doi.org/10.3280/su2021-168002.

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Анотація:

I più recenti studi sul mercato immobiliare e sulle pratiche abitative nelle città di antico regime hanno messo in luce il carattere polisemico della casa, il cui scambio risponde a logiche frastagliate, che abbracciano la dimensione sociale, politica e simbolica, oltre che economica stricto sensu. La casa, oltre a rispondere a un'esigenza primaria, è un bene capace di generare status e diritti. Questo articolo intende soprattutto segnalare piste interpretative delle fonti finora poco consuete. Si vuole in particolare osservare alcuni specifici aspetti dello scambio immobiliare, con l'obiettivo di mostrare come avviene l'allocazione dei capitali economici, sociali e relazionali all'interno di un gioco asimmetrico, nonché largamente per meato dal credito e dalle dinamiche sociali. Dal testo emerge l'importanza della scelta della tipologia abitativa e la connotazione sociale che questa conferiva al suo proprietario o locatario. Il caso della famiglia novarese dei Pernate è emblematico, poiché sono chiari e ben rintracciabili i passaggi che, dal contado, la portarono ai vertici del l'amministrazione di Novara

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41

Bonfanti, Angelo. "Sviluppo sostenibile in azione: il ruolo delle Banche di Credito Cooperativo nella comunitÀ locale." MERCATI & COMPETITIVITÀ, no. 2 (May 2009): 61–81. http://dx.doi.org/10.3280/mc2009-002004.

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- This paper will analyze the role of Cooperative Credit Banks (CCBs) as actors and promoters of sustainable development within the local community. In particular, the Total Corporate Communication Model (Balmer & Gray, 2000) will be used to present a qualitative exploratory research on the initiatives and interventions undertaken by CCBs in their territories. The communication tools employed by CCBs to promote the value of sustainability will be discussed. The analysis will lead to the identification of potential strategic strengths as well as improvement areas in the CCBs' actions for sustainable development.Keywords: Cooperative Credit Banks, sustainable development, corporate social responsibility, corporate identity, corporate communication, corporate culture.Parole chiave: Banche di Credito Cooperativo, sviluppo sostenibile, responsabilitÀ sociale d'impresa, identitÀ d'impresa, comunicazione d'impresa, cultura aziendale

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42

Siddiqui, Dilnawaz A. "Social Sciences and Social Change." American Journal of Islam and Society 8, no. 1 (March 1, 1991): 175–81. http://dx.doi.org/10.35632/ajis.v8i1.2655.

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The second decade of the association's existence culminated in a veryencouraging conference in Dearborn, Michigan this year.The conference highlights included a keynote address by Ali Mazrui,Albert Schweitzer Professor in the Humanities, State University of New Yorkat Binghamton, and addresses by 'AbdulHamid AbuSulayman, past presidentof AMSS and current rector of the Islamic University of Malaysia, and MunirAhmad Khan, director of the Pakstan Atomic Energy Commission. Mazrui,who focused on the Gulf crisis, spoke about the double standards practicedby the West in dealing with the Muslim ummah. AbuSulayman stressed theneed for reform of character at the individual level for achieving lasting socialchange.The Isma'il and Lamya' al Faruqi Memorial Lecture was delivered byJohn Esposito, director of the Center for International Studies, Holy CrossCollege, Worcester, Massachusetts and past president of the Middle EastStudies Association (MESA). He reminded the Muslim social scientists ofIsma'il al Faruqfs tradition, urging them to become activists and scholarsof Islam at the same time.The conference proceedings were spread over nineteen panels whichoffered a variety of papers on Islam and Muslim life by scholars from NorthAmerica and overseas.The tradition that had been revived three years ago was maintained, andthus the Association of Muslim Scientists and Engineers (AMSE) also heldtheir annual conference concurrently with this year's AMSS conference. Theother tradition that continued was the trialogue between representatives ofthe three Abrahamic faiths.Another feature of the program was the incorporation of the AMSSBusiness Administration seminar. This program featured two panels. In thefirst panel, Ahmed M. Abo-Hebeish of Northrop Corporation discussed theframework of debtor-creditor relations as the foundation of financial accountingin Islam, and Mohamed A. El-Badawi of California State University addressedthe issue of computing zakatable funds.The other panel (Session 5: Panel 10) in this discipline had fourpresentations. The seminar chairman, Ghouse A. Shareef of Bellannine Collegein Kentucky, spoke on "Acountability, Congruency, and Equilibrium as the ...

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43

Arraiza Jiménez, Pablo. "El concurso de acreedores desde la óptica de la sociedad familiar." Pecvnia : Revista de la Facultad de Ciencias Económicas y Empresariales, Universidad de León, no. 12 (June 1, 2011): 133. http://dx.doi.org/10.18002/pec.v0i12.619.

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El concurso de acreedores constituye una institución mixta de derecho mercantil y procesal que tiene por objeto la salvaguarda del patrimonio social o masa con la finalidad de permitir a los acreedores de una sociedad en situación de insolvencia obtener el cobro de sus créditos en la mayor medida posible, ya sea mediante la suscripción de un convenio que tienda a permitir la supervivencia de la empresa como medio de obtención de los recursos precisos para hacer frente al pago, ya sea mediante la instauración de un proceso liquidatorio que partiendo de una disolución ordenada de la sociedad, contemple la satisfacción de los acreedores de acuerdo con un orden de prelación determinado por una jerarquización crediticia construida sobre la base de la mayor preeminencia de determinados grupos de acreedores caracterizados por la relevancia social de los sujetos que integran cada grupo. La institución del concurso de acreedores viene actualmente regulada en la Ley 22/2003 de 9 de julio, inspirada en el principio de unidad de disciplina como expresamente reconoce la Exposición de Motivos de esta Ley, la cual somete a un mismo régimen normativo a la totalidad de las situaciones concursales, con independencia de que afecten a personas físicas o jurídicas, comerciantes o no. En tal contexto, las singularidades que por su idiosincrasia interna presenta la sociedad familiar tienen su reflejo en la regulación y el desarrollo del concurso de acreedores, en cuestiones tan relevantes como la génesis y virtualidad de la decisión de instar la declaración de concurso voluntario ante el Juzgado de lo Mercantil, la calificación de los créditos de los socios, su intervención en la junta de acreedores, la solicitud de la apertura de la fase de liquidación, o la calificación del concurso. The bankruptcy constitutes a mixed institution of commercial and procedural law that takes as an object the safeguard of the social heritage or mass with the purpose of allowing to the creditors of a company in situation of insolvency obtain the collection of his credits in the major possible measure, already be by means of the subscription of an agreement that tends to allow the survival of the company as way of obtaining of the precise resources to face to the payment, already be by means of the restoration of a liquidation process that departing from a dissolution been ordained as the company, contemplate the satisfaction of the creditors of agreement with an order of marshalling determined by a credit hierarchical organization constructed on the base of the major preeminence of certain groups of creditors characterized by the social relevancy of the subjects who integrate every group. The institution of the bankruptcy comes nowadays regulated in the Law 22/2003 of July 9, inspired by the beginning of unit of discipline as expressly it recognizes them the Exposition of reasons of this Law, which submits to the same normative regime to the totality of the situations compete for them, with independence of which they affect natural or juridical persons, merchants or not. In such a context, the singularities that for his internal idiosyncrasy the familiar company presents have his reflection in the regulation and the development of the creditors' contest, in questions as relevant as the genesis and virtuality of the decision of urging the declaration of voluntary bankruptcy before the Judge of the mercantile thing, the qualification of the credits of the partners, his intervention in the creditors' meeting, the request of the opening of the phase of liquidation, or the qualification of the bankruptcy.

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Boletsi, Maria. "Recasting the indebted subject in the middle voice." Social Science Information 58, no. 3 (June 24, 2019): 430–53. http://dx.doi.org/10.1177/0539018419856776.

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This article traces the interrelation of two forms of debt – financial debt and the symbolic debt to the past – in order to propose a rethinking of the discourse of debt through the ‘middle voice’, understood both as a grammatical category and, more generally, as an expressive modality that can take shape through different media. Can we revisit discourses of debt through ‘grammars’ that could restore a form of agency to the ‘indebted subject’ and disrupt the asymmetrical power relation between debtor and creditor? To explore this question, the article turns to literary and artistic responses to the discourse of debt against the backdrop of the Greek debt crisis. Through a close reading of the novella Close to the Belly (2014) by Sotiris Dimitriou and an untitled art installation by Stefania Strouza (2011), it traces how these works cast the subject as produced by the discourse of debt and test alternative conceptions of the indebted subject through the modality of the middle voice. Dimitriou’s novella tries to transcend both the moral discourse of financial debt and the debt to the past by envisioning a disengagement from all debt, which eventually yields a society without past and future. By contrast, Strouza’s installation reconfigures the debtor-creditor relation without renouncing debt altogether. By staging an encounter between Sophocles’ Antigone and Marx’s Capital, it transforms the power relation of debtor and creditor into a deictic exchange that makes these positions malleable and reversible. Through these works, the article explores the conditions for reconsidering the notion of debt through the modality of the middle voice and the risks but also the politically promising possibilities the middle voice opens up for conceiving the indebted subject and the temporality of debt otherwise.

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Biondi, Yuri. "Sovereign Debt Restructuring, Refinancing and the Financial Market." Accounting, Economics, and Law: A Convivium 6, no. 3 (December 1, 2016): 179–88. http://dx.doi.org/10.1515/ael-2016-0024.

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Abstract Lienau’s book on ‘Rethinking Sovereign Debt’ delves into international finance to shed light on its background rules, overarching ideologies and interacting actors, disentangling the social norm of sovereign debt continuity and its institutional foundations. What a formalistic legal reasoning would interpret as a self-contained bilateral contract is then situated in historical time and social space populated by a variety of actors (debtors and creditors), co-existing legal regimes and evolving principles of reference. Her focus on odious debt highlights situations where debt continuity is challenged by major events in the sovereign borrower status (such as major political regime change, corruption and human rights abuse) which challenge debt legitimacy. This comment expands on her thoughtful analysis by linking debt continuity to the borrowing sovereign entity as a going concern. Sovereign borrowing makes lenders involved with this ongoing entity through time and circumstances. Ongoing sovereign debt management is featured by both debt securities market trading and the refinancing mechanism. In turn, refinancing involves public finances with their public benefit missions, central banking and the monetary base management. In this context, socially responsible lending and borrowing may be facilitated by acknowledging the bonding relationship between the borrowing sovereign entity and its creditors, including when default occurs.

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Hamrouni, Amal, Ali Uyar, and Rim Boussaada. "Are corporate social responsibility disclosures relevant for lenders? Empirical evidence from France." Management Decision 58, no. 2 (November 27, 2019): 267–79. http://dx.doi.org/10.1108/md-06-2019-0757.

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Purpose The purpose of this paper is to test whether or not CSR disclosure (i.e. aggregate as well as its three sub-indicators) reduces the cost of debt for French corporations listed in the SBF 120 index between 2010 and 2015. Design/methodology/approach CSR disclosure ratings of firms were collected from the Bloomberg database under three dimensions such as environmental, social and governance (ESG). Then, a pooled regression analysis was run. Findings The results indicate that overall CSR disclosure score as a combination of ESG disclosure scores has a negative effect on the cost of debt (i.e. lowers the cost of debt). While environmental disclosure is negatively associated with the cost of debt, social disclosure is unexpectedly positively associated, and governance disclosure has an insignificant association with the cost of debt. Research limitations/implications The study has two main limitations. First, the analysis does not consider contractual constraints and obligations that might exist in debt contracts (Jung et al., 2018). Second, the analyses cover a specific time period (i.e. between 2010 and 2015) for a specific country (i.e. France) excluding utilities and the financial sector. Practical implications Overall, it is inferred from the results that financial markets for lenders take into account CSR disclosure when assessing the creditworthiness of borrowers. Specifically, environmental disclosure is the only subdimension of CSR that is influential on creditors’ decisions to offer favorable interest rates. In line with this outcome, companies can assess their processes and be more aligned with eco-friendly practices, and investors are particularly advised to invest in those types of firms. Originality/value This study extends scant literature on the association between CSR and the cost of debt by exploring how creditors treat CSR dimensions dissimilarly in granting loans to firms. The findings of this study have particular importance as financial debt is one of the most predominant forms of external financing.

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Mewse, Avril J., Stephen E. G. Lea, and Wendy Wrapson. "First steps out of debt: Attitudes and social identity as predictors of contact by debtors with creditors." Journal of Economic Psychology 31, no. 6 (December 2010): 1021–34. http://dx.doi.org/10.1016/j.joep.2010.08.009.

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Vause, E. ""The Business of Reputations": Secrecy, Shame, and Social Standing in Nineteenth-Century French Debtors' and Creditors' Newspapers." Journal of Social History 48, no. 1 (August 14, 2014): 47–71. http://dx.doi.org/10.1093/jsh/shu072.

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Jedlicki, Claudio. "Évolution des rapports entre les États débiteurs de l’Amérique latine et les créanciers occidentaux." Études internationales 16, no. 1 (April 12, 2005): 37–53. http://dx.doi.org/10.7202/701793ar.

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This article is about the problem of the debt incurred by countries of Latin America, preference being given to the notion of net transfer of currency as being the main element which can explain relations between debtors and creditors. It shows that the recent evolution in the attitude of the debtor states, as has been apparent since the meeting at Quito, in January 1984, up to that at Mar del Plata in September 1984, is accounted for by the inversion of the flow of the net transfer of money. Latin America today has become a net exporter of currency. Similarly, the future evolution between the pursuance of the monetary adjustment and the cessation of payment will be determined, in a large measure, by the scope and the meaning lying behind the net transfer of borrowed money. The economical, social and political consequences deriving from the actual reimbursement of the debt are such that they may promote the advent of regimes which will be compelled to implement deep structural reforms. Whether this comes about or not will depend a lot on the creditors.

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Mironov, Anatolii Nikolayevich, Yulia Pavlovna Kolesnikova, and Vladimir Mikhaylovich Redkous. "Private bankruptcy in the Russian Federation: reality and perspectives." SHS Web of Conferences 108 (2021): 01008. http://dx.doi.org/10.1051/shsconf/202110801008.

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The research is dedicated to a number of problematic areas in implementing a social function of individual bankruptcy. Crisis events of 2020 required measures from many states intended to support both large and small businesses and individual citizens. Personal bankruptcy as a legal tool provides an opportunity for persons with financial hardships to be legally released from further fulfillment of creditor claims. Along with that, it becomes more and more relevant to overcome bureaucratic, financial and other barriers to exercise rights and legal interests of consumers in this area. The paper is intended to identify a number of problems impeding the implementation of the social function of private bankruptcy and to develop possible solutions during the discussion. These issues were addressed based on regulatory and scientific sources containing relevant information on the institute of private bankruptcy using a number of general scientific (analysis, induction) and particular scientific (formally legal) methods. The research resulted in a list of primary problematic aspects in legal regulation and practice of private bankruptcy in the Russian Federation impeding the implementation of the social function of this institute. Solutions are proposed for discussion, which are related to financing private bankruptcy, abuse of the creditor right, low level of population awareness of the ways, methods and consequences of solving issues connected with overdue debts. This paper presents an overview of primary problematic aspects and their solutions. Each aspect will be considered in more detail in future researches.

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