Publicații - Universitatea de Vest "Vasile Goldiș" din Arad
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Determinants of Corporate Pay-out Policy and the Moderating Effects of Firm\u27s Growth: Evidence From Pakistan
Full text linkThis study investigates the determinants of dividend pay-out of listed firms in Pakistan from the year 2011 to 2015. The focus of the study is the life cycle theory of dividends, agency theory and signaling theory. Corporate governance indicators, firm efficiency and cash flow volatility are the main determinants used in this study. This study also includes eight corporate governance indicators namely insider ownership, ownership concentration, institutional ownership, board independence, board size, CEO duality, audit committee independence and remuneration committee. It is found that ownership concentration, institutional ownership, CEO duality, firm efficiency and cash flow volatility are the significant determinants of dividend pay-out in Pakistan. It is also found that growth opportunities significantly moderate the impact of ownership concentration, institutional ownership, CEO duality, firm efficiency, cash flow volatility on the dividend pay-out. This research is among the pioneer studies which examine the impact of firm efficiency on dividend pay-out. Likewise, the study is among the first attempts to incorporate growth opportunities as moderating variable in the relationship between corporate governance indicators, firm efficiency and cash flow volatility with dividend pay-out. Results show that the management of an efficient firm pays a high dividend to increase its reputation in the market. Furthermore, the negative signaling effect of dividend omission may not exist for efficient firms. It implies that efficient firms at their growth stage may also skip dividends
Some Historical Aspects of the Establishment and Development of the ”Vor V Zakone” E Bis Institute
Full text linkOrganized crime is the most dangerous type of criminal activity because organized crime associations run the criminal environment and commit various types of serious criminal acts. The fight against organized crime is, therefore, a priority for individual countries as well as for the world community as a whole. To combat this phenomenon, the United Nations adopted the Convention against Transnational Organized Crime on November 15, 2000, which has been ratified by many countries around the world. In addition, one of the types of organized crime is the so-called "thieves in law" institute, which originated in the former Soviet Union and is known around the world as the Russian mafia, namely the Russian term "Vory v Zakone", which means "thieves in law". means. Today, their criminal activities are widespread in many countries. We believe that in order to fight against this criminal association, it is necessary to study the history of its emergence and development. That is why our goal is the so-called. A study of the history of the institute of "thieves in law" and some peculiarities
Teaching Legal Reasoning to Law Students in Pakistan: Need for Reforms in LLB Curriculum
Full text linkLegal education is the method for preserving the rule of law, which is the fundamental premise upon which contemporary nations political and legal underpinnings are built. Legal thinking skills are one of the primary characteristics required of legal practitioners. It is also emphasized in legal education as a primary goal. In Pakistani law schools, the notion of legal reasoning is frequently addressed but rarely articulated. However, in Pakistani law schools, the actual teaching of a skills method approach to legal reasoning as a process and a concept has rarely been properly described. Legal reasoning is not included in the LLB curriculum, which is a fundamental flaw in the legal education system. Legal reasoning will provide law students with a skill that will help them to secure their careers and may be used in a variety of disciplines. This paper will argue that the existing LLB curriculum in Pakistan needs to be reformed and legal reasoning should be included as a subject
Prosecutor: the History, Duties, and Responsibilities in Georgia, and Other Foreign Countries
Full text linkThe prosecutor is an individual who on behalf of the Government carries on criminal prosecution against the guilty person and in the court with the mandate of society and supports the State Prosecution. The main aim of the prosecutor is the find out such objective and indisputable evidence, which will help the court to make the right and fair decision. The present article according to the qualitative research method focuses on the history, stages of development, and current functions of the prosecutors. Based on this, it became clear how effective and productive the prosecutor\u27s participation in the court is and, in general, how independent the prosecutor is in the performance of his or her functions and what are similarities and differences in different countries prosecutor’s independence, roles, and responsibilities. As the study highlighted the International Prosecutor should have exclusively such rights, as investigation and implementation of criminal persecution against specific persons. Apart from these restrictions imposed by the legislation, of course, substantive importance is given to the global situation in the world during the prosecutor\u27s activities
Impact of Ethical Training on Auditors’ Ethical Decision Making in Morocco
Full text linkThe purpose of this study is to investigate the moderating role that can play ethical training in increasing auditors\u27 level of ethics. Therefore, this research will test any significant differences between the two groups through a multi-group moderation analysis. The first group represents auditors who took an ethics course before, and the other group represents auditors who did not previously take any course. This comparison will be performed based on the relationships between the variables in our model, namely ethical judgment, ethical intention, moral identity centrality, and perceived moral intensity. The sample of this study is mainly external senior auditors operating in audit firms in Morocco. We could obtain 125 usable responses, and we processed data with SmartPLS software. The results show that auditors\u27 moral identity impacts their ethical judgment positively and significantly, and the effect is more substantial for the group of auditors who took an ethics course before. Moreover, taking an ethics course seems to moderate also the positive and significant relationship between auditors\u27 ethical judgment and their ethical intention. However, the results were opposite to what we expected concerning the relationship between perceived moral intensity and auditors\u27 ethical judgment. Thus, ethical training seemed to moderate the positive relationship negatively
Theoretical and Practical Analysis on the Quality of Active Subject of the Corruption Offenses of the Bank Clerk in the Sense of His Assimilation to the Civil Servant
Full text linkThe quality of the active subject of the bribery offense that can be retained to the bank clerk is based on the logical-legal argument that the duties he performs are subject to the control of a public authority, which recognizes that at least in terms of the importance of this activity. type of official we place ourselves in an area of authority and public interest. If at the beginning the legislator placed the bank clerk among the private persons who in terms of activities were likely to acquire the status of active subject of the crime of bribery, then he returned and placed him among the category of employees assimilated to civil servants. This much stronger link between the activity of this official, the purpose of his duties and the subordination of his own activity to a public authority, was the new argument underlying the current criminal regulations, which recognizes the quality of active subject of the offense of bribing the bank clerk
Genesis of Legal Regulation of Domestic Violence in Ukraine
Full text linkThe relevance of this study is due to the lack of an effective mechanism to combat domestic violence in Ukraine and an insufficiently effective system of prevention and protection against domestic violence, which creates an atmosphere of impunity and leads to the spread of this phenomenon in Ukraine. The purpose of the article is to analyze the genesis of legal regulation of domestic violence in Ukraine and determine the problems Ukraine faces during this process. The article dwells on the historical aspect of domestic violence phenomena and considers former legal regulations of it. The article also reveals some problems deriving from the historical aspect of combating domestic violence, which is still in place nowadays. Their detrimental impact on combating domestic violence is as well considered
Where Do Real Output Shocks to Nigeria Mainly Emanate From? Empirical Analysis of Nigeria-China-India-USA Economic Interactions
Full text linkThis study investigated Nigeria\u27s economic interactions with China, India, and the USA with a view to identifying the main source of real output shock to Nigeria in the period 1981Q1-2019Q4. The analysis followed the network approach of Diebold and Yilmaz (2014), which uses the size and direction of normalized generalized forecast error variance decompositions (NGFEVD) of a vector error correction model to track shock propagation among economic entities. The results indicate that China and India are net transmitters of real output shocks to Nigeria. The results also indicate that Nigeria is a net real output shock receiver. The study concludes that Nigerian policymakers should evolve policies that can insulate the economy against real output shock heatwaves from around the world, especially China and India. Such policies should mainly target the diversification of the economy such that crude oil will no longer be the only major source of revenue
Assessment of the Impact of Government Revenue Mobilisation on Economic Growth in Nigeria
Full text linkInadequate revenue generation impedes economic growth. It retards the overall economic growth and behavior. It delays government decision formulation on expenditure. The issue has lacked attention from academics. Consequently, this study focuses on the relationship between revenue generation and economic growth in Nigeria. It employed time series data sourced from the Central Bank of Nigeria (CBN) and the National Bureau of Statistics (NBS) from 1981-2018. Contributing to the debate on the revenue mobilization and economic growth nexus, the study used multiple regression to estimate the impact of government revenue mobilization on economic growth in Nigeria. Findings revealed that domestic debts and non-oil (NOIL) revenue positively and significantly impact economic growth while external debts and oil revenue revealed otherwise. Based on the findings, the study concluded that government revenue impacts economic growth. Consequently, the study recommends economic diversification through strategic programs aimed at enhancing growth rather than remaining a mono-economy. Furthermore, it recommends that the government should review the existing revenue mobilization strategy– especially the multifarious non-oil revenue bases to ensure improved revenue remittances. The study also recommended the need to formulate policies that will guarantee better utilization of both domestic and foreign loans with the aim of increasing productivity and enhancing revenue mobilization. It is also recommended that borrowing should be considered a last resort to fund government projects, and where it is unavoidable such borrowing should be limited to domestic debt (DD)
Analysis of the Impact of Non-oil Taxation on Foreign Direct Investment and Economic Services in Nigeria
Full text linkThis study assessed the nonoil taxation effect on foreign direct investment and economic services from 1994 to 2019 in Nigeria. This study further evaluated the causality bearing amid foreign direct investment, economic services, value-added tax, company income tax, capital gain tax, custom and excise duties, and education tax, devotedly hiring Units root, VECM, Johansen co-integration, and Granger causality tests. Outcomes uncovered that value-added tax has a positive significant effect on economic services but a negative influence on foreign direct investment. Furthermore, value-added tax granger- cause foreign direct investment and economic services. It is also exposed that company income tax and capital gain tax possessed short-run and long-run negative significant influence on foreign direct investment but positive influence on economic services. More so, custom and excise duties upsurge economic services and foreign direct investment positively and significantly. Conclusively, taxation has negative significant impacts on foreign direct investment but upsurge economic services positively in Nigeria. It is recommended that since company income tax impacted foreign direct investment negatively both in the long run and short run, the government should lessen company income tax and upsurge capital allowance bestow on foreign direct investment in order to improve and attract foreign direct investment which will perpetually decrease poverty rate in Nigeria. Also, the government should employ taxation to realize more improvement in economic services and minimize all barriers to foreign direct investment attraction such as import duties and other levies to inspire investors