In this paper, we analyze whether the total debt ratios and bank loan ratios of Chinese listed companies had any impact on their fixed investment in 2001-2006, and whether this impact, if it existed, differed among companies with differing investment opportunities. Our results are as follows. First, our analysis reveals that the total debt ratio (bank loan ratio) did have a negative impact on f...

making a negotiable instrument on behalf is one of the most important issues in negotiable instruments law. under general rules, the principle has the obligations arising from making negotiable instrument on behalf and agent is not in charge. if the maker wasn’t an agent or he violated the representation area, his act wouldn’t be valid. now the question is if the agent doesn’t manifest his posi...

according to the civil code, article 663 every action accomplished out of his authority by agents among them the governmental managers is ineffective. but operating this article with respect to governmental contracts especially those which concern to act of state (act jure empirii) creates undesirable effects and make the people distrust to the government and spoil the rights of the persons of ...

On October 13, 2006, President George W. Bush signed the Unlawful Internet GamblingEnforcementAct (UIGEA)of2006asanattachment to theSecurity andAccountability for Every Port Act of 2006. UIGEA is the first federal regulation specific to the online gaming industry. In this article, we examine the impact of UIGEA and its subsequent interpretation (through administrative rulemaking andDepartment o...

BACKGROUND The Licensing Act 2003 (The Act) was implemented on the 24th November 2005 across England and Wales. The Act allowed more flexible and longer opening hours for licensed premises. We investigated the effect of The Act on alcohol related attendances to an inner city emergency department in Birmingham, UK. METHODS We compared the proportion and time of alcohol related emergency depart...

Environmental issues have received considerable attention in the literature over the past few years; consider, for example, Burrit (2004), Hopwood (2009), Hubbard (2009), Masanet-Llodra (2006), and Schaltegger and Wagner (2006), to name but a few. Several factors have motivated companies to investigate and improve environmental performance (Länsiluoto&Järvenpää, 2008). Stakeholders, such as cus...

BACKGROUND The Orphan Drug Act is an important piece of legislation that uses financial incentives to encourage the development of drugs that treat rare diseases. This analysis studies the effects of a portion of the Orphan Drug Act, the orphan drug designation. Specifically, it studies the value that investors place on the orphan drug designation, by investigating how investors react to compan...

It is a charity and is incorporated in England as a company limited by guarantee under the Companies Act (Reg. No. 70527)