The thesis examines the claims that may be brought against express trustees for pecuniary compensation. It contends that a difference of principle divides this conventional category in two. Some compensation claims complain that the trustee has breached one of his duties and seek to charge him with reparation for whatever ensuing loss has been suffered by the beneficial interests. These claims resemble claims for damages founded upon a tort or breach of contract. Other compensation claims overlook whatever breach there may have been and demand that the trustee account and perform the trusts, in money where this cannot be done in specie. This second type of claim resembles a claim for the specific performance of a contract, bearing in mind that specific performance may be given with compensation where the defendant cannot deliver what he has promised. The claims are cumulative subject to the principle of full satisfaction.

This thesis aims to underline the paradox surrounding cartels in general and international cartels in particular. While they are almost unanimously recognised as the most egregious form of antitrust violations, real political willingness fails to fight efficiently against cartels. Notwithstanding, this paper shows why international cooperation is essential but still unsatisfactory in eliminating international cartels through concrete examples in domestic laws, such as the Fine Arts Auctions Case and export cartel configurations. Existing national and international instruments present advantages and disadvantages. International competition law, including international cartel issues, is still subject to virulent debates within the international community, particularly with respect to the future of a WTO Multilateral Agreement. It raises the question as to what can be suggested in order to solve aspects of these debates in a satisfactory manner and thereby contribute---modestly---to ameliorate the fight against international cartels.

Earnings and book value are commonly used as the basis for firm valuation. However, the reliability of earnings, as indicated by earnings management, may affect its relevance in determining firm value. This thesis investigates the link between earnings management and firm valuation by assessing the impact of earnings management on the value-relevance of earnings and book value.Three different sources of earnings management are investigated: total discretionary accruals, short-term discretionary accruals, and long-term discretionary accruals. Total discretionary accruals are estimated using the Jones model (Jones 1991). New models are developed to estimate short-term and long-term discretionary accruals. These models enable investigation of the differential impact of earnings management via short-term versus earnings management via long-term discretionary accruals. The primary proposition is that earnings management via long-term discretionary accruals has a greater impact on the value-relevance of earnings and book value than earnings management via short-term discretionary accruals.For firm’s whose discretionary accruals indicate earnings management, the value relevance of earnings is expected to be lower than for firms without earnings management. Moreover, in the presence of earnings management, it is expected that there will be a shift from a reliance on earnings to a reliance on book value in the valuation process. This would be reflected in a decrease in the value-relevance of earnings and an increase in the value-relevance of book value.This thesis provides evidence that earnings management plays a role in the valuation process. A major contribution of this study is the development of models to enable the estimation of short-term and long-term discretionary accruals, thereby extending the earnings management literature by addressing the differential effect of short-term versus long-term discretionary accruals. The results clearly demonstrate that low reliability of information reduces its value-relevance. This link between the integrity of accounting information and its usefulness to market participants supports the need for ongoing regulatory activity to improve the integrity of the financial reporting process.

Thesis (LL. M.)--University of Toronto, 2005.

Diss. Stockholm : Stockholms universitet, 2005.

Thesis--University of Pennsylvania, 1912. / Cover title.

Thesis--University of Pennsylvania, 1912. / Cover title.

Thesis (doctoral)--Universiẗat, Saarbrücken, 2004. / Includes bibliographical references (p. 295-312).

Inaug.-Diss.--Frankfurt am Main. / Vita. Bibliography: p. [5-19].

Thesis (M.B.A.)--University of Hong Kong, 1998. / Includes bibliographical references.