One of the puzzles regarding IPO’s is that the issuers rarely get upset about leaving substantial amounts of money on the table due to underpricing. The cost of underpricing is the number of shares sold multiplied by the difference between the first-day closing price and the offer price. The research sample of IPOs and JSE databases comprised, respectively, 160 and 321 new applicants for the years 1995-1999. New applicants comprising the research sample raised R12.55 billion with an underpricing cost exceeding R2.85 billion i.e., 22.71 percent of the IPO capital raised. This cost was found to be nearly 10 times greater than the R295 million paid in fees to the corporate advisors by the issuing companies. The prime beneficiaries of this discount were a select grouping of private placement investors at the discretion of the corporate advisors and directors. Mean unadjusted initial first day returns amounted to 55.04 percent. Public Offer IPO’s (solely or as a component of a Hybrid Offer) follow UK influenced corporate legal systems– both in legislative norm and empirical results. First day initial returns were presented per issuer List Board, Method and Type of Listing, IPO capital raised and disclosed use of proceeds. Internationally many theories have been raised as to what has become to be known as the short-run underpricing puzzle. The winner’s curse hypothesis is directly tested flowing from and the unique data availability. It was shown that South African Public and Hybrid IPO Offer methods bear an exceptionally close correlation to UK influenced corporate legal systems and as such proved a reliable empirical testing ground for the winners curse phenomena using the same methodology and equations as their international counterparts hereunder. The UK based corporate law and institutional arrangements in South Africa allow a direct test of the empirical implications of the winner’s curse hypothesis in pricing unseasoned new issues.

[pt] O presente trabalho baseia-se na obra de Joseph Raz e consiste em uma investigação teórica sobre os conceitos de normas e de sistemas jurídicos no interior do positivismo analítico. A análise dos modelos de Austin, Kelsen e Hart evidencia a necessidade de reformulação dos critérios de identidade do direito. Um critério que leve em conta a atuação dos órgãos primários de aplicação do direito mostra-se superior na medida em que reconhece que as normas identificadas, de alguma forma, se ligam com razões para a ação. Porque essa dimensão prática das normas não pode ser desconsiderada, o critério proposto por Raz desponta como uma descrição melhor e mais fiel daquilo que se entende por sistema jurídico. / [en] The present work is based on Joseph Raz work and consists in a theoretical investigation about the concepts of legal norms and systems in the boundary of analytic positivism. The analysis of the models developed by Austin, Kelsen and Hart prove the necessity of reformulation of the criteria of identity of Law. A criterion that takes into account the activity of the primary law-applying organs is superior because recognizes the fact that the identified norms, in a certain way, are connected with reasons for action. Because this practical dimension of the norms can not be disregarded, the criterion proposed by Raz proportions a better and more faithful description of a legal system.

Este trabalho versa sobre a atividade de controle exercida pelo Ministério Público sobre a Administração Pública no âmbito extrajudicial. A vinculação do Poder Público ao próprio direito é o pressuposto básico da função de controle, a qual teve seu nascedouro exatamente na implantação do princípio da legalidade. O estudo aborda também o dinamismo do direito e das concepções jurídico-filosóficas, mencionando as modificações ocorridas no paradigma da legalidade nas últimas décadas, especialmente pelas tendências de constitucionalização do direito e de valorização do intérprete. Em seguida, discorre-se sobre o Ministério Público Brasileiro, com análise de suas finalidades constitucionais, de sua legitimidade democrática e processual e da disciplina básica de sua atuação. Menciona-se cada um dos instrumentos de atuação extrajudicial, tratando-se de sua caracterização infraconstitucional. Passa-se, então, à reflexão e identificação de um regramento próprio da atuação extrajudicial do Ministério Público, em especial no que se refere ao âmbito do controle que o órgão exerce sobre a Administração Pública. Sob esse enfoque, discutem-se questões atinentes ao regime jurídico de tal atividade, tais como a proatividade do membro do Ministério Público, a flexibilidade das medidas e soluções propostas pela instituição, a incidência dos postulados gerais do direito na atividade extrajudicial do Ministério Público. Avalia-se também a questão relativa aos efeitos jurídicos da atuação extrajudicial do Ministério Público no exercício de controle sobre a Administração Pública, cuidando-se de temas como a consensualidade necessária à vinculação da Administração Pública às propostas do Parquet e a revisibilidade judicial das interpretações e soluções propostas. Trata-se, ainda, de aspectos intimamente relacionados ao tema central do trabalho, tais como a responsabilidade política que recai sobre o Ministério Público, em face de seu status constitucional, a necessidade de se garantir adequadas estruturação dos órgãos e formação dos membros do Ministério Público, com vistas à sua mínima preparação para o enfrentamento de temas multidisciplinares. O trabalho busca estabelecer o básico regramento da atividade extrajudicial do Parquet, em especial no seu relacionamento com a função de controle da Administração Pública que a instituição exerce por força das disposições constitucionais pertinentes. / This work is about the control activity carried out by the Public Prosecution of the Public Administration in the extrajudicial context. According to the text, what links the Government to the right itself is the basic assumption of the control function, which just had its origin in the implementation of the principle of legality. The study also addresses the dynamics of law and legal-philosophical concepts, mentioning the changes in the paradigm of legality in recent decades, especially by trends in the constitutionalization of rights and enhancing the interpreter. Then it discusses the Public Prosecution, with analysis of its constitutional purposes, its democratic and legal standing and the basic discipline of its performance. It mentions each of the instruments of extrajudicial action, in the case of its infraconstitutional characterization. Then goes on to the reflection and identification of its own rules of the extrajudicial actions of Public Prosecution, in particular as regards the scope of the control that the body carries on the Public Administration. Under this approach, we discuss matters pertaining to the legal system of such activity, such as proactive member of the Public Prosecution, the flexibility of the measures and proposed solutions by the institution, the effect that the law general postulates on extrajudicial activity of the Public Prosecution. It also discusses the matter as to the legal effects of court actions of the Public Prosecution in the exercise of control over the Public Administration, with consideration given to issues such as consensual required for binding the Public Administration to the Parquet proposals and judicial revisibility of the interpretations and proposed solutions. It also discusses about aspects that are closely related to the main topic of this work, such as the political responsibility that lies with the Public Prosecution, in view of its constitutional status, the need to ensure adequate structuring of organs and training of prosecutors, with a view to its minimal preparation for dealing with multidisciplinary issues. This work seeks to establish the basic rules of the extrajudicial Parquet activity, especially in its relationship with the controlling function of the Public Administration that the institution carries under the relevant constitutional provisions.

Submitted by Rosina Valeria Lanzellotti Mattiussi Teixeira (rosina.teixeira@unisantos.br) on 2015-05-20T12:34:13Z No. of bitstreams: 1 Jorge Victor Cunha Barreto da Silva.pdf: 939873 bytes, checksum: 0560f6c0e388fe841eecb6e10bcdc4e7 (MD5) / Made available in DSpace on 2015-05-20T12:34:13Z (GMT). No. of bitstreams: 1 Jorge Victor Cunha Barreto da Silva.pdf: 939873 bytes, checksum: 0560f6c0e388fe841eecb6e10bcdc4e7 (MD5) Previous issue date: 2013-10-09 / Coordenação de Aperfeiçoamento de Pessoal de Nível Superior - CAPES / The existence of a general theory of environmental law is still a relatively unexplored by Brazilian jurists. Although already discuss the existence of an environmental legal system, the characteristics of this system, individuals who compose it, its object and application methods are still little issues faced by the doctrine. The difficulty that the lawyer has to handle the concepts and institutions environmental law reflects the inadequacy of the practical tools , e.g. civil action , class action , injunction environmental impact study prior to impose appropriate parameters is an effective damage prevention ecological , either the repair or restoration of natural losses already studied. A hopelessness tools in environmental protection grows alarmingly, particularly among environmentalists, who no longer believe in the law as a means to contain the impulse developmental ravaging , pollutes and appropriate , in order to reduce the horizon of survival of future generations on the planet earth . In this backdrop, gutter noted that environmental law has very recent formation , precisely compared with study and improvement of the general theory of private law, whose ancient principles , concepts and institutes underwent thorough reflection, by notable jurists , leading the solid ideas about what they mean / represent to the right and to the dynamics of social relations . Therefore, it is more than necessary doctrinal effort on the general theory of law environment, in order to explain the existence of a Legal System Environmental studying their core ideas, such as " Polution", " Caution", " Criminal Liability of Corporations" , so that such logical categories are better fatically identified and legally interpreted, providing coherence to society , regarding the application of the environmental legal body . Face of this, the purpose of the study suggested herein is not to dwell on sectors or divisions that can be established within the environmental law, as the discipline of water, soil , flora or waste . Instead, look to characterize released figures equate problems , formulate solutions relating to the whole area of environmental law - will study a theme common to most of the standards of environmental law or general relations of use / exploitation of ecological assets . / A existência de uma teoria geral do direito ambiental ainda é um tema pouco explorado pelos juristas brasileiros. Embora já se discuta a existência de um sistema jurídico ambiental, as características desse sistema, os sujeitos que o compõem, seu objeto e métodos de aplicação ainda são questões pouco enfrentadas pela doutrina. A dificuldade que o jurista tem de manejar os conceitos e institutos direito ambiental reflete na insuficiência dos instrumentos práticos, e.g. ação civil pública, ação popular, mandado de segurança ambiental, estudo prévio de impacto, para impor, parâmetros adequados seja para uma efetiva prevenção de danos ecológicos, seja para promover a reparação ou restauração de prejuízos naturais já apurados.A desesperança nas ferramentas de proteção ambiental cresce de forma assustadora, especialmente entre os ambientalistas, que já não crêem no direito como meio de conter o impulso desenvolvimentista que devasta, polui e apropria, de forma a diminuir o horizonte de sobrevivência das futuras gerações sobre o planeta terra. Nesse pano de fundo, calha observar que o Direito Ambiental possui formação bastante recente, notadamente se comparado com estudo e aperfeiçoamento da teoria geral do direito privado, cujos milenares princípios, conceitos e institutos foram submetidos a minuciosa reflexão, por parte de notáveis jurisconsultos, conduzindo a idéias sólidas, sobre o que significam/representam para o direito e para a dinâmica das relações sociais. Portanto, é mais do que necessário esforço doutrinário sobre a teoria geral do direito do meio ambiente, a fim de explicar a existência de um Sistema Jurídico Ambiental, estudando as suas idéias nucleares, como ¿Poluição¿, ¿Precaução¿, ¿Responsabilidade Penal da Pessoa Jurídica¿, a fim de que tais categorias lógicas sejam melhor, faticamente identificadas e juridicamente interpretadas, oferecendo coerência para a sociedade, no tocante à aplicação do corpo jurídico ambiental. Deste modo, a finalidade do estudo ora sugerido não é se debruçar sobre setores ou divisões que se possam estabelecer dentro do direito ambiental, como a disciplina da água, do solo, da flora ou dos resíduos. Ao contrário, o olhar lançado pretende caracterizar figuras, equacionar problemas, sugerindo a formulação de elementos teóricos, que atravessem, transversalmente, todo o domínio do direito ambiental. Isto posto, será estudada uma temática comum à generalidade das normas de direito ambiental ou à generalidade das relações de uso/exploração de bens ecológicos.

Submitted by Filipe dos Santos (fsantos@pucsp.br) on 2016-08-11T12:00:39Z No. of bitstreams: 1 Jayme da Silva Neves Neto.pdf: 1143304 bytes, checksum: a55dc67cd44f13fab230ac8bdf7e1967 (MD5) / Made available in DSpace on 2016-08-11T12:00:40Z (GMT). No. of bitstreams: 1 Jayme da Silva Neves Neto.pdf: 1143304 bytes, checksum: a55dc67cd44f13fab230ac8bdf7e1967 (MD5) Previous issue date: 2016-04-08 / This scientific research aims to answer whether there is some proper legal framework for the Rural Activity Income Tax - Private Individuals. Thus, we discussed the main aspects of that particular tax. In order to investigate the regulatory documents that rule the mentioned tax, we used the logical-semantic constructive method and several of its tools and concepts to demonstrate the assumptions that have guided us. Then we traced the lines of the tax on income in the Constitution and Federal Laws, and studied the material definition for income, the general constitutional principles and specific tax, and possible tax bases (real, presumed and arbitrated). We also want to point the limits that the constitutional legislator has when it comes to creating any new form of income tax, especially the tax on income of Rural Activity - Private Individuals. In chapters three and four, we dealt with the main topic, exploring the legal framework regarding the aforementioned tax. In chapter three, we highlighted the general aspects, we noted the constitutionality of differentiation criteria which allows legislators to establish the legal framework for taxation on income from different rural activities. We also studied the meaning of rural activity and examined some standard and non-standard agricultural leases to make sure if the activity that was performed by each person was rural or not. Finally, in chapter four we studied the criteria of tax incidence describing the elements of the antecedent and consequent normative criteria of tax on income of Rural Activity - Private Individuals. We showed the variations to calculate the tax basis, consisting of real results (gross revenue - necessary expenses - investments = actual result), presumed and arbitrated, the latter two equivalent to twenty percent of the annual gross revenue. We also worked with the instrumental duties that come with the mentioned tax, and the main discussions at CARF about it / Essa pesquisa científica procura responder se existe e em que consiste o regime jurídico tributário próprio do Imposto Sobre a Renda da Atividade Rural – Pessoa Física. Neste percurso, ao descrever os contornos deste imposto, discutimos suas principais problemáticas, nos posicionando sobre elas. Para investigar os documentos normativos que disciplinam o tributo em questão, nos valemos do método do constructivismo lógico-semântico, utilizando várias de suas ferramentas e conceitos a respeito do Direito, o que fizemos questão de constar no trabalho, a fim de deixar claras as premissas sobre as quais nos pautamos. Ao depois, também em sede preliminar, buscamos traçar os contornos do Imposto Sobre a Renda na Constituição e na Lei Complementar, investigando a definição da materialidade renda, os princípios constitucionais tributários gerais e específicos deste imposto e as bases de cálculo possíveis (real, presumida e arbitrada). Buscamos, com isso, evidenciar os limites programados pelo legislador constitucional e complementar, para que o legislador ordinário competente possa instituir qualquer modalidade de tributação da renda, especialmente o Imposto Sobre a Renda da Atividade Rural – Pessoa Física. Nos capítulos seguintes (terceiro e quarto), tratamos do tema em si, explorando o regime jurídico tributário do imposto em pesquisa. No capítulo terceiro, no qual tratamos o que consideramos e denominamos questões gerais do tema, evidenciamos a constitucionalidade dos critérios de diferenciação que autorizam o legislador ordinário a instituir o regime jurídico de tributação da renda da atividade rural diferenciado em vigor. Respondemos, também, descrevendo o que é e o que não é atividade rural, submetendo posteriormente nossa definição à análise de alguns contratos rurais típicos e atípicos, sobre se a atividade desenvolvida por cada parte contratante é ou não rural. No capítulo quatro, saturamos todos os critérios da fórmula da regra-matriz de incidência tributária, descrevendo os elementos dos critérios do antecedente e consequente normativo do Imposto Sobre a Renda da Atividade Rural – Pessoa Física. Evidenciamos o tratamento diferenciado na apuração da base de cálculo, consistente nos resultados real (receita bruta – despesas necessárias – investimentos = resultado real), presumido e arbitrado, estes dois últimos equivalentes a vinte por cento da receita bruta anual. Também tratamos sobre os deveres instrumentais deste imposto e as principais discussões no CARF a seu respeito

Made available in DSpace on 2016-04-26T20:23:00Z (GMT). No. of bitstreams: 1 Joao Roberto Gorini Gamba.pdf: 1007112 bytes, checksum: edb9d57c6304caaf523b14a48859de66 (MD5) Previous issue date: 2014-08-06 / The present work is dedicated to the study of the property throughout a historical reconstruction of the institute according to the treatment given to it in legal, economic and social aspects, seeking to identify their philosophical foundations as well as the consequences verified by each adopted model. Initially, we looked for to expose conjectures about the origin of property in a primitive human stage and, in the following moment, pointing out the various transformations undergone by the institute since its apprehension by Roman Law until its receipt by the Napoleonic Code which, as the reading done, consolidates the property as the center of the modern legal system / O presente trabalho se dedica ao estudo da propriedade por meio de uma reconstrução histórica do instituto conforme o tratamento dado a ele nos âmbitos jurídico, econômico e social, buscando apontar seus fundamentos filosóficos, bem como as consequências verificadas por cada modelo adotado. Inicialmente, buscamos expor conjecturas sobre a origem da propriedade num estágio humano primitivo e, na sequência, apontar as diversas transformações sofridas pelo instituto desde sua apreensão pelo Direito Romano até sua recepção pelo Código Napoleônico que, conforme a leitura realizada, consolida a propriedade como centro do ordenamento jurídico moderno

Within the framework of the traditional sociological question, how the legal system is related to the society, the aim of this study is to treat the legal system as a conflict resolver. More specifically, the following questions will be treated:1.Which categories of people and which categories of organizations are as parties using the court for settling conflicts and in what types of conflicts do they act in this way?2.Howdoes the legal utilization vary over time? May socio-economical, demographical, and legal conditions explain these variations?This study only deals with conflict resolution in courts of first instance, so called district courts.One aim has been to get a general view over to what extent Swedish courts are utilized as conflict resolvers, and how this utilization varies over time. The discussion is mainly based upon official statistics. To complete this discussion, an empirical study has been realized. This study is comparative. The conflict solving activities between 1940 and 1969 has been examined in the town courts of Umeå and Luleå. The data basis consists of official statistics and collected informations from cases finally dealt with in the two courts. A stratified random sample out of these cases has been made. As a result of theoretical and methodological considerations the sample consists of only certain types of disputes and crimes.As a general conclusion, one can state that disputes before the courts nowadays as earlier are concerning socially and economically strong persons. However one must notify that this study is just a case study with its limitations.Concerning criminal cases, expected results from the study are that the proportion of workers among the prosecuted is bigger than the proportion of prosecuted business leaders. Interesting however, is that the unskilled are well represented in the data material. This means a different picture compared to the distribution of plaintiffs in civil cases. The changes in character of the conflict constellations occured in the two towns at the same time as summary legal processes were introduced in criminal cases at the end of the 1940's. A bigger proportion of workers as prosecuted party is observed after that processual simplification. Pro-cessual simplifications of that kind seem to strengthen rather than to weaken the occupational bias among the prosecuted persons, at least in crime cases with an injured person involved.Concerning criminal cases, we have finally assumpted that during phases of social and economical stagnation both the number of prosecuted workers and the number of theft and drunkeness cases increases in the type of industrialized community that Luleå belongs to. In more socially and economically differentiated communities, like Umeå, the same type of development is more linked to phases of economical expansion. While increases in the pressure of temptation are widening the economical conditions for people, this may be the reasonable explanation to the variations in the conflict resolving activities in the courts between different local communities. Explanations, close to those used to explain criminal activity caused by poverty, may refer to local communities dominated by industry. / digitalisering@umu

Anti-communism in America reached its apex in the 1950s. One element of this crusade focused on preventing suspected communists from working in their chosen profession, a practice called blacklisting. In attempting to assert their legal rights, the blacklisted found an imperfect justice system, cloaked in equality, yet hampered by the existing cultural setting that treated as immoral anything communist. This dissertation deconstructs the interplay between culture and law, between the desire to root out communists and the attempt to maintain a fair legal system. With an emphasis on the entertainment industry, broadly defined, I will trace blacklisting from anti-labor tool to for-profit instrument focusing on how the blacklisted employed the lawsuit to fight for their jobs. I argue that from the late 1940s through the mid-1960s, blacklisted plaintiffs continuously found themselves handicapped by their association -- either current or past, real or perceived -- with the Communist Party, and not until a plaintiff with no demonstrable ties to communism came along did the legal system prove a comprehensively effective tool in ending the practice. I show that various members of the blacklisted community, with the aid of a small number of lawyers, tried an assortment of legal theories in their attempt to remedy their pariah status with the results often promising -- the first three jury trials ended in victories for the plaintiffs -- but ultimately hollow as a recalcitrant appellate judiciary dashed these early hopes. Moreover, I show how plaintiff's lawyers, sensitive to a legal system that demanded a successful plaintiff be free of communist ties, adjusted their strategy to accommodate the relationship between cultural setting and legal success. / text

In this thesis, the concept of the procedural aspect of the Rule of Law will be distinguished from what I argue are conceptions that are falsely promulgated as concept. The different aspects of the Rule of Law—form, substance, and procedure— are helpful in making the distinction between concept and conception. Examining procedure within the Rule of Law is particularly important, and I define a broader set of requirements of the concept of the procedural aspect of the Rule of Law. This concept is applied to understand the Indian conception of the Rule of Law, a particularly interesting case that brings out questions about culture and economic capacity. Ultimately, I argue that this broader set of requirements is better suited to evaluate the realization of the Rule of Law in all contexts.

Submitted by FABIANA DA SILVA FRANÇA (fabiana21franca@gmail.com) on 2018-02-15T14:51:08Z No. of bitstreams: 1 Arquivo total.pdf: 1913228 bytes, checksum: 97e50809ea2bd1beeb3332072e5a58fa (MD5) / Made available in DSpace on 2018-02-15T14:51:08Z (GMT). No. of bitstreams: 1 Arquivo total.pdf: 1913228 bytes, checksum: 97e50809ea2bd1beeb3332072e5a58fa (MD5) Previous issue date: 2017-08-30 / This research investigates the protection of personal data within the Brazilian legal system, in order to unravel the level of protection and how this is effected. Therefore, the objective is to identify the Brazilian legislation that deals with the protection of personal data. Identifies the challenges for managing personal data in Brazil, establish some practical cases in the national and international levels. It aims, therefore, to seek solutions through legislation already regarded in Brazil for cases of resolutions. Finally, it maps the laws and practices of other countries, compared with those from Brazil, with the aim of presenting new solutions to the loopholes in Brazilian laws. As for the method, the research appears as qualitative primarily based on documentary evidence. It is hoped that this research, at its end, identifies personal data management practices in Brazil. / Investiga a proteção de dados pessoais no âmbito no ordenamento jurídico, com o intuito de desvendar qual o nível de tal tutela e como esta se efetiva. Para tanto, objetiva-se identificar a legislação brasileira que trata sobre a proteção de dados pessoais. Identificar quais os desafios para de gestão dados pessoais, apurar alguns casos práticos no âmbito nacional e internacional. Consequentemente, buscar soluções através da legislação e princípios já existentes no Brasil e no mundo para resoluções de casos. Por fim, mapear as legislações e práticas de outros países, comparando com as do Brasil, com o objetivo de apresentar novas soluções em que as leis brasileiras possuem uma lacuna. Quanto ao método, a pesquisa configura-se como qualitativa de cunho documental. Espera-se com essa pesquisa que ao fim, sejam identificadas as práticas de gestão de dados pessoais no Brasil.