Reformierung der Vergütungssysteme für die Finanzbranche – Eine rechtsökonomische Analyse

Die Vergütungspraktiken bei Spitzenmanagern gelten als Mitverursacher der Finanz- und Wirtschaftskrise und stehen in der ?ffentlichen Kritik. Oft werden Spitzenmanager für kurzfristige Unternehmenserfolge mit gro?zügigen Bonuszahlungen ausgestattet, w?hrend Fehlverhalten nicht sanktioniert wird. Eine solche Vergütungspraxis setzt falsche Anreizmechanismen und f?rdert die Risikobereitschaft von Spitzenmanagern. In diesem Aufsatz werden zun?chst die derzeitigen Regulierungslücken im Lichte der Prinzipal-Agenten-Beziehung diskutiert. Anschlie?end wird anhand eines theoretischen Modells gezeigt, wie die kurzfristige Gewinnorientierung eines Managers zu einem Moral-Hazard-Verhalten führen kann. Des Weiteren werden m?gliche Reformma?nahmen diskutiert sowie die bisherigen Reformbemühungen beleuchtet. Mit der Verankerung der neuen Instituts-Vergütungsverordnung im deutschen Recht ist ein erster Schritt zu einer langfristigen und nachhaltigen Unternehmenspolitik erfolgt. Es kommt in naher Zukunft darauf an, dass alle Industrie- und Schwellenl?nder die internationalen Richtlinien in nationale Gesetzgebung umsetzen, damit keine Regulierungsarbitrage zwischen den einzelnen Staaten entsteht.     

“How Do I Bring Diversity?” Race and Class in the College Admissions Essay

In the first systematic study of what college applicants invoke when required to submit a diversity essay, we revisit many settled assumptions on both the left and the right about how such an essay would operate after Grutter and Gratz as well as after the passage of anti–affirmative action ballot initiatives. Our data are a sample of 176 diversity essays submitted to the University of Michigan in the immediate aftermath of the University's Supreme Court win, analyzed both qualitatively and quantitatively with special attention to the differences that the essay writer's race and class position make. We find that in many respects the essays are similar when written by applicants from similar backgrounds but different races, and that conservative critics were wrong to assume the essay would function simply as a way of announcing oneself as an under‐the‐table affirmative action candidate. Rather than suggesting a straightforward lineup of advantage and disadvantage, we suggest rather that the essay is a vehicle for the youngest generation of citizens to both receive and send back a new conception of difference that has some essentializing elements but overall is turning in a postracial, cosmopolitan direction.     

The legal role of medical professionals in decisions to withhold or withdraw life-sustaining treatment: Part 3 (Victoria)

This is the final article in a series of three that examines the legal role of medical professionals in decisions to withhold or withdraw life-sustaining treatment from adults who lack capacity. This article considers the position in Victoria. A review of the law in this State reveals that medical professionals play significant legal roles in these decisions. However, the law is problematic in a number of respects and this is likely to impede medical professionals' legal knowledge in this area. The article examines the level of training that medical professionals receive on issues such as refusal of treatment certificates and substitute decision-making, and the available empirical evidence as to the state of medical professionals' knowledge of the law at the end of life. It concludes that there are gaps in legal knowledge and that law reform is needed in Victoria. The article also draws together themes from the series as a whole, including conclusions about the need for more and better medical education and about law reform generally.     

Are Your Disputants Insecure and Does It Matter? Attachment and Disputants' Speech during Mediation

An exploratory qualitative study explored the effect of attachment styles on disputants' speech during real‐life mediations. Drawing on attachment theory, we classified disputants as secure or insecure individuals using a self‐report attachment‐style questionnaire. Subsequently, they entered their mediation sessions, where their entire speech was recorded. Qualitative analysis of their speech yielded consistent and sometimes striking differences that portrayed secure speech as remarkably more useful and enhancing toward resolution compared with insecure speech. The findings, presented with many examples, strongly indicate the relevance of attachment to the research of communication during mediation sessions. In this report, we also consider the practical implications of the association between attachment and disputants' behavior, emphasizing the role of mediators.     

Child sex tourism: extending the borders of sexual offender legislation

Child sex tourism, the act of traveling to engage in sexual acts with minors, plagues developing nations worldwide. Several laws have been passed internationally in recent years designed to curtail this practice. Government entities and human rights organizations have driven these efforts. United States citizens represent a significant proportion of participants in child sex tourism. The PROTECT Act of 2003 prohibits United States citizens from participating in sexual acts with minors while traveling, and establishes extraterritorial jurisdiction. The case of Michael Lewis Clark, the first United States citizen convicted under this legislation, is highlighted. Child sex tourism poses unique issues to courts that will require ongoing clarification as challenges arise. This article discusses potential future challenges, describes strategies to address this problem, and relates this issue to psychiatry. Mental health providers may have the role of evaluating both the victims and perpetrators of child sex tourism. The authors propose a classification system for offenses and an initial list of topics to discuss with victims. The authors also describe the proper mechanism for reporting United States citizens suspected of participating in child sex tourism.     

Say cheese! Privacy and facial recognition

The popular social networking site, Facebook, recently launched a facial recognition tool to help users tag photographs they uploaded to Facebook. This generated significant controversy, arising as much as anything, from the company’s failure to adequately inform users of this new service and to explain how the technology works.The incident illustrates the sensitivity of facial recognition technology and the potential conflict with data privacy laws. However, facial recognition has been around for some time and is used by businesses and public organisations for a variety of purposes – primarily in relation to law enforcement, border control, photo editing and social networking. There are also indications that the technology could be used by commercial entities for marketing purposes in the future.This article considers the technology, its practical applications and the manner in which European data protection laws regulate its use. In particular, how much control should we have over our own image? What uses of this technology are, and are not, acceptable? Ultimately, does European data protection law provide an adequate framework for this technology? Is it a framework which protects the privacy of individuals without unduly constraining the development of innovative and beneficial applications and business models?     

ECFA对海峡两岸区域金融合作的法律支撑分析

随着《海峡两岸经济合作框架协议》(ECFA)的签署,其对海峡两岸区域金融合作的法律支撑效应尽显。从法律定位角度分析,ECFA不仅涵盖两岸货物贸易、服务贸易(含金融服务),还涉及投资内容,完全符合世界贸易组织(WTO)认可的"深度PTA"特征。从金融合作的实质内容来看,ECFA在金融方面的全面渗透,广泛合作的态势对金融监管提出了严峻的挑战,要求两岸在监管方面也必须配套广泛性和协同性。截止目前,ECFA框架尚未达成解决解决争端的救济模式,但考虑以政治性、法律程序性混合机制公允、灵活解决争端应成为题中应有之义。     

Combatting benefits fraud

Benefit schemes for occupational injury are susceptible to fraud from internal sources, claimants and professionals involved in claims. The pressure to reduce expenditure, together with the changes to the public sector generally, have affected how the fraud is dealt with. One such scheme in Australia, the Workcover Corporation of South Australia, provides a case-study from the practitioner perspective on the analysis of fraud and the cost-effective targetting of resources for its prevention, detection and prosecution.Ben Wait is a financial analyst with Workcover Corporation. The article was written during his time as a researcher with the Unit and is written in a personal capacity.