Les transactions entre parties liées sont apparues sur le devant de la scène à la suite des nombreux scandales comptables : Enron, Adelphia et Tyco aux États-Unis, Parmalat en Italie, HIH en Australie. En Asie, il y a eu de nombreux exemples de pillage d'entreprises par les dirigeants ou les actionnaires à travers l'utilisation des transactions entre parties liées pendant la crise des marchés de 1997-1998. Dans les marchés émergents et développés, les transactions entre parties liées sont utilisées comme un outil de transfert des actifs et des résultats des entreprises au bénéfice de ceux qui les contrôlent.Le Congrès américain dans la Loi Sarbanes-Oxley de 2002 a cherché à contrôler ces transactions entre parties liées. Mais, dans de nombreux pays, les transactions entre parties liées sont une pratique courante permettant des transferts de résultats et d'actifs entre entreprises. La théorie de l'agence considère généralement que les transactions entre parties liées sont faites au détriment des actionnaires. La littérature académique a tenté de mesurer l'expropriation indirecte liée aux transactions entre parties liées (voir par exemple, Bertrand, Metha, & Mullainathan, 2002; La Porta et al, 2000a, 2002; Faccio, Lang, & Young, 2001).La réglementation thaïlandaise impose, depuis la crise financière asiatique de 1997, des exigences de publication sur le montant et la nature des transactions entre parties liées. Cette thèse aborde les questions du lien entre les mécanismes de gouvernance et le recours aux transactions entre parties liées.Les résultats économétriques indiquent que : la détention de capital par les dirigeants ou par les administrateurs et la renommée du cabinet d'audit ont un impact négatif sur le volume des transactions entre parties liées. Par ailleurs, la séparation des fonctions de direction et de présidence du conseil d'administration a un impact positif sur le volume des transactions entre parties liées. De même, le pourcentage d'administrateurs indépendants et le recours à l'endettement financier ont un impact positif sur le volume des transactions entre parties liées.La thèse explore également la relation entre la performance financière et le recours aux transactions entre parties liées. Nos résultats montrent que la performance financière est indépendante du recours aux transactions entre parties liées. Ces résultats montrent que, du strict point de vue des actionnaires, le recours aux transactions entre parties liées n'est ni favorable ni défavorable. Par conséquent, l'intérêt des transactions entre parties liées ne peut pas s'apprécier dans une optique uniquement actionnariale. C'est pourquoi nous proposons de recourir au cadre théorique des parties prenantes pour pouvoir appréhender l'intérêt des transactions entre parties liées. Ce sera l'objet des travaux postérieurs à la thèse.Notre thèse permet de mieux comprendre la façon dont les transactions entre parties liées sont affectées par les mécanismes de gouvernance d'entreprise dans les sociétés cotées de Thaïlande. Nous contribuons à la littérature académique existante et tentons de démontrer en quoi les caractéristiques, les structures et la qualité des mécanismes de gouvernance d'entreprise sont importantes. / Related party transactions have recently become many accounting scandals worldwide, from Enron, Adelphia, and Tyco in U.S., Parmalat in Italy, HIH in Australia. In Asia, there have been many examples of looting of firms by managers or controlling shareholders using related party transactions during markets crisis of 1997-1998. In both emerging and developed markets, related party transactions are used as a tool to transfer assets and profits out of the firms for the benefit of those who control them.The U.S. Congress in the Sarbanes-Oxley Act of 2002 attempted to control these related party transactions. But in many countries, transactions between related parties are a common practice to transfer benefits and assets between companies. The agency theory generally considers that related party transactions are detrimental to the interests of shareholders. The academic literature has attempted to measure expropriation using indirect proxies for the propensity of firms to expropriate (see for example, Bertrand, Metha, & Mullainathan, 2002; La Porta et al., 2000a, 2002; Faccio, Lang, & Young, 2001).Thailand requires, since the Asian financial crisis of 1997, the publication on the amount and nature of related party transactions. This study addresses the question of the relationship between governance mechanisms and the applying of related party transactions.The econometric results indicate that the managerial ownership and the audit company have a negative impact on the amount of related party transactions. Moreover, the CEO duality has a positive impact on the amount of related party transactions. Similarly, the independent board and the leverage ratio have a positive impact on the amount of related party transactions.This study also explores the relationship between financial performance and the applying of related party transactions. Our results show that financial performance is independent of the applying of related party transactions. These results show that, as the shareholder approach, the applying of related party transactions is neither favorable nor unfavorable. Therefore, the benefits of related party transactions cannot be appreciated with a view only shareholder. We, therefore, propose to use the theoretical framework of stakeholders in order to capture the benefits of related party transactions. This will be the objective of future research.Our theory provides a better understanding of how related party transactions are affected by the mechanisms of corporate governance in Thai listed companies. We contribute to the existing academic literature and attempt to demonstrate how the characteristics, structure and quality of corporate governance mechanisms are essential.

The goal of the diploma thesis is the characterization of the tax on financial transactions with its origins. The main content lies primarily in the description of the tax on financial transactions within the frame of the enhanced cooperation of some of the member states of the European Union and assessment of the assumed impacts of its implementation. The first chapter describes in more detail the development in the international field after the financial crisis which attracted attention to the various ways of taxation of financial sector. Options that were considered are briefly summarized in this chapter and then the detailed attention is paid to the path chosen by the European Union, i.e. the tax on financial transactions. The second chapter of the thesis examines the aspects of the enhanced cooperation and its specifics in comparison with the whole-union system. The chapter is finished with the case of the European Court of Justice where the claim of Great Britain disputing the conformity of the Council's decision approving the enhanced cooperation with the law and the principles of functioning of the European Union is decided. The main elements of the tax are analyzed in the third and the fourth chapter in accordance with the directives on which they are based. These two chapters which are more of the...

Sandoriai patvirtinti galinų telekomunikacinių įrenginių ir el.pašto pagalba yra neatsiejama komercinės teisės dalis. Lyginant tarptautinius ir Lietuvos teisės aktus, nagrinėjami galimi tokių sandorių formos trūkumai bei jų, kaip rašytinių įrodymų reikšmė civiliniame teismo procese. / This magistrates thesis deals with theoretical and practical aspects of validity of transactions (contracts, confirmed by telecommunications and e-mails, particularly in its form. The purpose of this work was to analyse the possible lack of requisitions of such transactions. According to Lithuanian Civil Code Art. 1.71.2: documents signed by the parties and transmitted by means of telegraph, facsimile communication or over any other means of communication terminal equipment shall be conferred the same power as having been made in the written form, providing the protection of the text is guaranteed and the signature can be identified.

This is a research analysis on whether the Companies Act 71 of 2008 (the Act) balances the competing rights and interests of stakeholders affected by an affected transaction and fundamental transaction, and the remedial procedures triggered by these transactions. The new regime relating to fundamental transactions and affected transactions in the Act has, in practice, presented a number of legal questions, the answers to which are not readily apparent from the Act itself.1 These innovative provisions have also brought with them some fear and anxiety for a number of small and medium sized private companies as the administrative duties associated with the regulation of these transactions are fairly onerous and costly.2 The Companies Act 71 of 2008 aims:  “to provide for the incorporation, registration, organisation and management of companies, the capitalisation of profit companies, and the registration of offices of foreign companies carrying on business within the Republic;  to define the relationships between companies and their respective shareholders or members and directors;  to provide for equitable and efficient amalgamations, mergers and takeovers of companies;  to provide for efficient rescue of financially distressed companies; to provide appropriate legal redress for investors and third parties with respect to companies;  to establish a Companies and Intellectual Property Commission and a Takeover Regulation Panel to administer the requirements of the Act with respect to companies, to establish a Companies Tribunal to facilitate alternative dispute resolution and to review decisions of the Commission;  to establish a Financial Reporting Standards Council to advise on requirements for financial record-keeping and reporting by companies;  to repeal the Companies Act, 1973 (Act No. 61 of 1973), and make amendments to the Close Corporations Act, 1984 (Act No. 69 of 1984), as necessary to provide for a consistent and harmonious regime of business incorporation and regulation; and  to provide for matters connected therewith.” 3 The Act aims for a more flexible approach that has a balance between accountability and transparency, with less regulatory burden. / Mini Dissertation (LLM (Corporate Law))--University of Pretoria, 2020. / Mercantile Law / LLM (Corporate Law) / Unrestricted

Recently, one of the major problems in various countries is the management of complicated organisations to cope with the increasingly competitive marketplace. This problem can be solved using Enterprise Resource Planning (ERP) systems which can offer an integrated view of the whole business process within an organisation in real-time. However, those systems have complicated workflow, are costly to be analysed to manage the whole business process in those systems. Thus, Long Running Transaction (LRTs) models have been proposed as optimal solutions, which can be used to simplify the analysis of ERP systems workflow to manage the whole organiational process and ensure that completed transactions in a business process are not processed in any other process. Practically, LRTs models have various problems, such as the rollback and check-pointing activities. This led to the use of Communication Closed Layers (CCLs) for decomposing processes into layers to be analysed easily using sequential programs. Therefore, the purpose of this work is to develop an advanced approach to implement and analyse the workflow of an organisation in order to deal with failures in Long Running Transaction (LRTs) within Enterprise Resource Planning (ERP) systems using Communication Closed Layers (CCLs). Furthermore, it aims to examine the possible enhancements for the available methodology for ERP systems based on studying the LRT suitability and applicability to model the ERP workflows and offer simple and elegant constructs for implementing those complex and expensive ERP workflow systems. The implemented model in this thesis offers a solution for two main challenges; incompatibilities that result from the application of transitional transaction processing concepts to the ERP context and the complexity of ERP workflow. The first challenge is addressed based on offering new semantics to allow modelling of concepts, such as rollbacks and check-points through various constraints, while the second is addressed through the use of the Communication Closed Layer (CCL) approach. The implemented computational reconfigurable model of an ERP workflow system in this work is able to simulate real ERP workflow systems and allows obtaining more understanding of the use of ERP system in enterprise environments. Moreover, a case study is introduced to evaluate the application of the implemented model using three scenarios. The conducted evaluation stage explores the effectiveness of executable ERP computational models and offers a simple methodology that can be used to build those systems using novel approaches. Based on comparing the current model with two previous models, it can be concluded that the new model outperforms previous models based on benefiting from their features and solving their limitations which make them inappropriate to be used in the context of ERP workflow models.

The incorporation of a new technology, such as the Internet, into business processes can have an unexpected influence on those business processes. The study focused on the hypothesis that four entities (case studies) can account for their South African Internet-based sales transactions in a manner that complies with the requirements of GAAP. To address the hypotheses, the study was divided into the following research questions: • How do the four entities capture and record their South African Internet-based sales transactions? • Are these sales transactions accounted for in a manner that complies with the requirements of GAAP? To answer the first research question, data were collected from four entities. To answer the last research question, the data collected were compared with the requirements of GAAP to enable the study to conclude positively on the hypothesis. / Thesis (M.Com. (Accounting))--North-West University, Potchefstroom Campus, 2007.

Dans ce mémoire, nous étudions le comportement grégaire en le décomposant en cinq sources principales suggérées par Sias (2004). En utilisant la définition de Bikhchandani et Sharma (2001), nous nous intéressons particulièrement aux sources dites volontaires de la part des gestionnaires. La présence de problèmes d’agence et les cascades d’information semblent être les deux sources les plus présentes au sein des FCP. C’est l’analyse des structures des réseaux et des caractéristiques des six différents types de gestionnaires qui ont permis d’en arriver à cette conclusion.

Transaction in securities and their legal regulation The aim of this thesis is to define transactions with securities which are executed on capital market by investment firm. Theses is composed of 7 main chapters. Introductory chapters briefly provide evolution of securities in history. Afterwards the thesis focuses on the definition of securities according to contemporary legal regulation and reflects recent multiple changes in legal regulation. Attention is concentrated also to classification of securities in legal regulation. Types of contracts used in transactions with securities are also described. Consequently thesis concentrates on capital market regulation and supervision from the perspective of European and national law and reflects ongoing harmonization process. Primary attention is concentrated on position and activities of investment firm. It is the investment firm which provides investment services to customers and executes transactions with securities on capital market. Thesis focuses particularly on prudential requirements for providing investment services, categorization of customers, execution of client orders on terms that are most favorable to the client, scope of information which must be provided and requirements regarding qualification of personnel. The final part is devoted...

The main purpose in writing this work was therefore to analyze whether the trade secret belongs to assignable and transferable type of intangible asset law and whether it could be effectively protected. The author of this work has been himself asking questions: first of all what actually is trade secret? And is it possible transfer or cede it? And if it is possible is also possible to protect this intangible asset sufficiently in course of this transaction? The author came to conclusion that trade secret falls within the scope of intellectual property, same as patent, trademark, copyright, though trade secrets are more difficult to transfer and protect then other kinds of intellectual property while they are neither formalized nor well documented. And most of all they supposed to stay hidden forever. The property right in a trade secret is determined by the fact the owner protects its trade secret from disclosure to third parties. On the other hand in order for a valid transaction to take place trade secret must be first of all adequately identified. Above mentioned shall be taken into account while writing various types of contract that could be used for transferring of ceding of trade secrets i.e. license agreement, the contract on transfer of business share, contract for work, contract on lease...

In the presence of business groups, the expropriation through related party transactions (RPTs) is common and costly to minority shareholders. At the same time, it is well recognized that RPTs can help firms overcome market shortcomings. Using the setting of India's RPT voting rule, I find that a mandatory and binding shareholder voting mechanism helps filter out expropriation. Minority shareholders actively raise their voice against RPT resolutions, resulting in substantial shareholder dissent. My difference-in-difference analysis reveals that shareholder voting has a significant deterrence effect on RPT volume, especially on financial RPTs. I also find that stock prices react positively to news signaling the passage of the voting rule, and that the association between firm profitability and RPT increases following rule's adoption, suggesting that rule has a positive effect on shareholder value. Lastly, I show that mandatory RPT voting makes Indian firms more attractive to foreign institutional investors.