市场事前监管向事中事后监管转变的经济法阐释

中国市场监管立法改革的核心问题,是市场监管资源的优化配置.规范分析表明,是否需要将某一领域的事前监管转变为事中事后监管,取决于被监管事项可能造成的损害后果的救济成本与事中事后监管成本的总和是否低于事前监管总成本.对于需要改革的领域,在取消事前监管之后,立法机关和监管部门应强化法律私人实施理念,健全激励型监管措施:一是对经营者进行守法激励,二是对违法经营信息提供者实行物质奖励,三是积极对待惩罚性赔偿制度的激励功能,统一其司法适用标准,四是激励行业组织和专业服务机构参与市场共治.     

侦讯程序对权利保障与讯问效率的兼顾

我国现行的侦讯制度与侦讯实务偏重侦讯效率,对犯罪嫌疑人的权利保障不足。理论界提出的侦讯改革方案偏重权利保障,有失侦讯效率的提高。合理规制侦查讯问,需要更新理念,正确处理犯罪嫌疑人的侦讯程序主体与证据来源的关系,有效化解犯罪嫌疑人与被追诉人在侦讯中的目标冲突,适当矫正侦讯人员与犯罪嫌疑人力量严重失衡的状况。构建事前预防、事中监督和事后制裁相结合的综合机制,为侦讯制度提供配套制度保障,以利于实现侦讯制度兼顾讯问效率与保障犯罪嫌疑人权利的双重目标。     

规则选择的效率比较：以环保制度为例

环境群体性事件背后的一个重要的理论问题，是在环保制度中如何选择更有效率的法律规则。卡拉布雷西和梅拉米德提出的分析框架，有助于深入理解环境污染的制度设计。“卡-梅框架”对于法律规则的效率比较，基于事后效率（机会成本）与事前效率（行为激励）的法律经济学标准。同时，不同法律规则的经济效果，最终反映在法益的市场定价之上，对应着不同的市场类型。从效率标准和市场类型出发，可以看到各种现行的和可供选择的环保法律制度可能具有的成本收益和实践效果。以环境影响评价法为核心的现行环保体制，要比一刀切式的事前禁止或是造成严重后果后的司法救济更有效率，但是必须提升环保部门的公信力和执行力。     

行政管理创新的法律规制

当今各级政府正在积极探索行政管理的创新,但是许多创新违法违宪,而且比较隐晦.因此,如何规制、监督行政管理创新是我们面临的重要课题.可在事前、事中、事后三个阶段予以规制:在事前判断创新目的是否保障公民基本权利,在事中创新是否遵循正当程序,而事后可由立法、行政复议、行政诉讼甚至违宪审查予以决定创新的存废.     

经营者自定薪酬的控制机制探索

经营者因利益冲突而寻租,经营者自定薪酬大行其道,致使年薪制在实践中背离其设计目标.程序公正成为控制经营者自定薪酬的关键,这就要求提高经营者薪酬透明度;通过排除"灰色董事"和引入商事判断规则,超越董事会潜规则,增强利益冲突隔离机制的有效性;股东大会的事前控制应定位于薪酬政策和长期激励方案,并通过引入股东提案权和代表诉讼机制,强化股东对经营者薪酬的事后监督.     

论“规制行政法”的范式革命

规制行政是特定法律授权设立专门的规制机关,针对特定领域中具有强社会公共性的私人行为的规制活动。规制行政法是有关规制行政的法,系行政法的新类型。法范式意指法学者共同体从事法学研究所共同遵循的理论和方法,主要体现在由社会问题和主流社会观念所决定的法的价值目标、规范的内容和实现方式三个方面。规制行政法的范式革命主要体现在:价值目标是从私益保护到公益保护;规范内容是从防止行政权滥用到激励和约束行政权合理运用;实现方式是从以事后对抗式的司法救济为主到以事前协商合作式的预防治理为主。     

监所检察网络化管理与动态监督

监所检察开展网络化管理与动态监督,提高了法律监督的开放性、及时性和有效性,是法律监督手段和方式的创新及发展,是强化监督、公正执法的一条新路。能有效实现监所检察从结果监督向诉讼过程监督、事后监督向事前监督、静态监督向动态监督、监管单位被动服从监督向主动接受监督的转变。     

惩罚性违约金的经济分析

违约金是当事人对违约价格的约定,惩罚性违约金是当事人约定的数额超过事前对违约所致损失合理估计的违约金。惩罚性违约金有助于当事人作出效率的履行或违约决定,为当事人提供了效率投资激励,有利于当事人发出履行信息信号。最优罚金理论为效率约定和认识违约金提供了标准。对设置进入壁垒制造垄断的惩罚性违约金,应以反垄断法予以规制。平等自愿原则是合同法判定违约金是否效率的基本原则,所以惩罚性违约金的规制应以当事人平等自愿原则为依据。     

论刑事司法中公正与效率之均衡及途径

现代刑事司法中,公正与效率二者既相互统一,又时有冲突,如何求得二者之均衡,为刑事诉讼理论与实践所共同关注.辩诉交易,既能够有效地节约司法资源,提高诉讼效率,又能最大程度地保障公正价值的实现,是均衡公正与效率之最佳途径.引入辩诉交易制度,应为当今中国司法改革之必然选择.     

论行政执法依据的事前控制与事后审查

加强行政执法依据的事前控制与事后审查可以从源头上提高行政执法的质量.本文对行政执法依据的控制从制定行政执法依据程序的事前与事中控制和行政执法依据的事后审查两方面进行理论探讨,并提出了相应的立法修改的建议.     

Intra-party delegation in the Portuguese legislature: assigning committee chairs and party coordination positions

In European parliamentary democracies political parties control candidate selection, maintain cohesion in the legislature and support governments. In addition to these classic functions, parties also organise the legislature delegating power to legislators, specifically as committee chairs and party coordinators. Delegation is inherently dangerous, involving potential agency loss. Parties, however, have ex-ante and ex-post institutional mechanisms to deal with agency problems. In this paper, a case study is made of the Portuguese legislature, arguing that parties make use of their pivotal role in selecting legislators as committee chairs and party coordinators to keep tabs on legislators to thwart shirking from the party line. This paper finds that political parties use incumbency as an ex-ante screening mechanism of committee chairs and party coordinators in looking for reliable signals of past behaviour to decrease uncertainty. Additionally, evidence suggests that extra-parliamentary party structure is used as an institutional arena for ex-post control of party coordinators.     

Sentencing private benefits in takeover contest

We present a model of profit diversion into a takeover environment. The model incorporates a legal environment characterized by a probability of being convicted, a monetary sanction (ex-ante protection) and the costs of administrating the takeover (ex-post protection). We show that the extraction of private benefits is reduced by the existence of such a legal environment, which is consistent with a number of empirical studies. It also predicts that legal environment can conduct the bidder to acquire more than 50% of the share due to the impact of the final holding of the bidder on the fine. The paper contributes to the current debate on regulation of white-collar crime. It highlights the trade-off between the ex-post profit diversion and minority protection, and the ex-ante probability of efficient takeovers. But, considering simultaneously two tools of protection, the ex-ante and the ex-post ones, which do not have the same impact, we derive some guidelines in order to analyze the current trend of the US and the EU laws.     

3D打印技术发展与专利法回应

3D打印技术在改变制造业基础设施的配置、原材料的供应链和产品销售模式的同时,也对现行专利法律制度形成了冲击和挑战。在3D打印技术领域,如何在激励创新与防止潜在的非法复制之间实现平衡,廓清合法的"修理"和不合法的"再造"之间的界限以及以"非生产经营目的"的个人打印是否构成侵权等问题亟待专利法律制度的回应。面对3D打印技术带来的机遇与挑战,立法者应重新审视《专利法》的制度基础,在平衡技术革新和其他社会、经济价值的基础上,推动3D打印技术和专利法律制度间的互动演进式发展。     

European Labour Law and Severance Pay Determination in Collective Redundancies

In this article, we analyse the effects of institutional procedures for redundancies on the earning losses of redundant workers in Europe. Our approach consists of modelling an ideal case embedding the main characteristics of European Labour Law, in particular, the bargaining between firms and workers on the severance pay after a negative shock. The most striking result is that an exact compensation of the earning losses is only obtained by chance. In particular, we show (including a numerical example) that overcompensation of dismissed workers is a real possibility. On the contrary, the ex-ante bargaining models of severance pay predict a full-insurance result. Therefore, we propose a policy recommendation which consists of changing the ex-post bargaining of severance pay in collective dismissals for an ex-ante bargaining.     

侦查方法创新之我见

犯罪作为一种社会现象,它时刻处在动态之中。侦查破案,打击犯罪的方法也必然随之而变。只有不断创新侦查破案方法,才能提高打击犯罪的效能。要实现这个目标,要从战略性侦查方法创新、战术性侦查方法创新和侦查方法创新的保障措施三方面加以考虑。     

Regulatory Threat in Vertically Related Markets: The Case of German Electricity

This paper applies the concept of regulatory threat to analyse the electricity supply industry in Germany, where in contrast to other European member states there is no ex-ante regulation of network access charges. Instead, network access relies on industrial self-regulation and ex-post control by the Cartel Office. The paper extends the concept of regulatory threat to vertically related markets, stressing an optimal balance between the level of the network access charges and discrimination against third parties. The conceptual framework appears to explain developments in the German electricity sector accurately and thus provides a useful tool for policy analysis.     

论专利危机及其解决路径

专利制度作为知识经济时代最重要的财产权制度,却面临专利失灵或专利危机的指责。梳理现有文献所揭示的、专利法中可能存在阻碍创新的制度因素,实为完善专利理论及制度所必要。专利危机主要表现为：专利商业化程度低、专利权利滥用、累积创新领域的创新受阻、专利丛林、专利竞赛导致的资源浪费、专利授权质量太差、专利制度的人权困境和发展鸿沟,等等。其相应的专利改革方案包括：一方面,国内法上主要体现为改善专利授权质量问题、提升专利的有效利用;另一方面：对于国际因素所导致的专利问题,主要的观点是应该发挥国家在专利政策制定上的适度自主性。     

Patent litigation insurance and R&D incentives

A major policy concern regarding patenting activity is related to the actual enforceability of the patents granted by Patent Offices. The risk of facing elevated legal costs to defend patent rights can affect ex-ante incentives to invest in R&D. This paper analyses whether the availability of insurance policies that cover legal expenditures for patent litigation could increase the appropriability of the innovation. We model a situation in which an incumbent innovator is endowed with a valid patent and an entrant imitator can either directly enter the market or try to apply for a patent, hoping that an error will be made by the Patent Office. The incumbent can accommodate the entrant, file a suit to a civil court or offer a settlement agreement. We model the presence of heterogeneity in the risk that the patents will face an error by both patent examiners at Patent Offices and judges at civil court. We analyse the changes in expected profits for the innovator when given the possibility of buying an insurance policy which will cover legal costs in the event of trial. We compare the cases in which (i) coverage is voluntary and the insurer can discriminate perfectly between risky patents; (ii) coverage is voluntary and the insurer cannot discriminate between patents, and (iii) coverage is compulsory. The model highlights a set of peculiar strategic characteristics of insurance for legal expenditures which contribute to singling out the reasons underlying the underdevelopment of this market. We suggest that the crucial reason for such a failure is not adverse selection; consequently, we challenge the benefits of making coverage compulsory.     

The forecasting performance of implied volatility index: evidence from India VIX

In this paper, we investigate the forecasting performance of ex-post an ex-ante volatility forecasts against realized return volatility of various time horizon. The competing volatility forecasts are implied volatility, RiskMetrics and GJR-GARCH; the empirical results uncover that implied volatility dominates the other volatility forecast in the prediction of future realized return volatility. The in-sample forecast suggests that ex-ante volatility best explains the future market volatility. The non-overlapping sampling procedure gives the more robust estimate of volatility forecasts, the results reveals that implied volatility forecasts of all horizon appears positive unbiased forecaster of realized volatility. Moreover, the instrumental variable estimation in the presence of error-in-variable clears that implied volatility is free from measurement error; OLS estimates remains more consistent than the 2SLS estimates. The information content of implied volatility encourages the exchanges to construct the implied volatility indices and volatility products on underlying volatility index.     

知识产权制度的未来

知识经济的发展和数字网络的兴起使知识的创新与传播日益多样化，深刻地改变了知识产权制度的生态环境。生态环境的巨大变化进一步暴露了知识产权制度的先天缺陷，使知识产权制度面临前所未有的危机和挑战，改革现有知识产权制度与探索知识产权制度的补充或替代成为必然。知识创新激励制度的多样性、可替换性与环境适应性表明，单一制度无法提供所有知识领域的最佳激励，多元化成为未来知识产权制度的必然选择。