Ownership structure, regulation and the market for corporate control in the EU banking sector

This paper analyzes the efficiency of shareholder control and hostile takeovers as corporate governance mechanisms in the EU banking sector against the background of the existing corporate governance regulations and different ownership structures of banks in the EU. The results indicate the there is trade-off in EU corporate governance regulation between better investor protection and a higher efficiency of the market for corporate control. The main problem is differences in the ownership structure of banks in the EU banking sector. This implies that EU corporate governance regulations should be customized to the specific ownership structure of banks and not toward harmonising national regulations.     

Dan ?t’astny: The Economics of Economics

The Economics of Economics (2010) by Dan ?t??astny extends the economic approach of public choice and law and economics to see how economists behave so as to improve their well being in the world of uncertainty, scarcity and institutions. According to ?t??astny, economists have been adjusting their behavior to the changing institutional environment and, consequently, ended up policy irrelevant. The book review provides an assessment of the model ?t??astny employs. On the one hand, ?t??astny offers a looking glass that helps seeing the decision making process of an economist from a price theory perspective. I suggest, on the other hand, that the model would be more accurate had it not considered preferences constant. In fact, the evolution of economists?? preferences and the changing sense of praiseworthiness is what the model should try to explain.     

Neue Perspektiven der Gemeindezusammenarbeit? Die B-VG-Novelle BGBl I 60/2011 und ihre Relevanz für die interkommunale Kooperation

Die B-VG-Novelle BGBl I 60/2011 enth?lt einige wichtige Neuerungen in den verfassungsrechtlichen Rahmenbedingungen der interkommunalen Kooperation. Im Mittelpunkt steht dabei der Gemeindeverband als zentrale Institution der Gemeindezusammenarbeit in ?sterreich. Allerdings verdient auch das neu eingeführte Instrument der ?ffentlich-rechtlichen Vereinbarungen von Gemeinden Interesse. Der vorliegende Beitrag analysiert die neue Verfassungsrechtslage und prüft ihre Relevanz für die künftige Gemeindezusammenarbeit.     

On State, Identity and Rights: Putting Identity First

The paper considers the nature of the state understood as the political unity articulated on the basis of a collective identity which provides the state with its capacity to make decisions. The foremost decision of the state to protect and defend this identity is the source of its authority to enforce laws. Collective identity thus represents an object of special interest, unlike both ??political?? interests (Millian other-regarding acts) and private interests (Millian self-regarding acts). The validation of laws through this special interest is a necessary condition for both of these latter kinds of interests to materialize. Hence, unlike the Millian thesis of two different kinds of interests (self- and other-regarding), here we take that there are three types or spheres of interests. Any conception of rights, then, will cover a subset of interests found in the domains of all of those three types of interests: in the domain of political interest the issue concerns selection among competing sets of legitimate interests, within the domain of private interests the point is to discern those that will be protected by law, while the third type of interests, the object of which is a unique collective identity and its defining specificity, represents an overarching interest that is embedded in any legitimate collective concern. In this scheme, well-suited for democratic theory, the majority/minority discourse is a matter of distinguishing which particular set of legitimate interests is chosen to be dominant (e.g., which political party is in power) and which ones are waiting for the opportunity to achieve their transformation from minority (opposition) to majority (i. e. government). If, however, there is no well-defined collective identity, minorities acquire a new meaning. Rather than being possible future majorities, they form a nucleus of competing collective identities with, sometimes hopeless but still alive, aspirations to sovereignty. Thus they become sources of likely conflicts that may go well beyond political controversies.     

The Impact of Family Environment-Related Factors on Violence Against Adults in the Family

Much of the work on family violence, adult-on-adult violence, relies heavily on the characteristics of potential victims and offenders to explain the causes of violence. Family environment-related factors which can be represented by family organization, resources and stability have received relatively little attention. Those who live in a small family (or alone) may have a lower level of interaction with family members and a much lower risk of physical abuse compared to those living in larger family units. Also, the social organization or functionality of a family, which can be assumed from its structure and the relationships among its members, is likely to be related to the onset of violence. For those living in stable and wealthy families, violence may occur less often as a result of a reduced chance of conflict or family struggle. Findings of the current study show that the family environment differentiates the chances of victimization by family members.     

RNA/DNA co-analysis from blood stains—Results of a second collaborative EDNAP exercise

A second collaborative exercise on RNA/DNA co-analysis for body fluid identification and STR profiling was organized by the European DNA Profiling Group (EDNAP). Six human blood stains, two blood dilution series (5-0.001 μl blood) and, optionally, bona fide or mock casework samples of human or non-human origin were analyzed by the participating laboratories using a RNA/DNA co-extraction or solely RNA extraction method. Two novel mRNA multiplexes were used for the identification of blood: a highly sensitive duplex (HBA, HBB) and a moderately sensitive pentaplex (ALAS2, CD3G, ANK1, SPTB and PBGD). The laboratories used different chemistries and instrumentation. All of the 18 participating laboratories were able to successfully isolate and detect mRNA in dried blood stains. Thirteen laboratories simultaneously extracted RNA and DNA from individual stains and were able to utilize mRNA profiling to confirm the presence of blood and to obtain autosomal STR profiles from the blood stain donors. The positive identification of blood and good quality DNA profiles were also obtained from old and compromised casework samples. The method proved to be reproducible and sensitive using different analysis strategies. The results of this collaborative exercise involving a RNA/DNA co-extraction strategy support the potential use of an mRNA based system for the identification of blood in forensic casework that is compatible with current DNA analysis methodology.     

Does Tolerance of Religion in the Public Space Depend on the Salience of the Manifestation of Religious Group Membership?

The question of the role of Islam in the public space has become a new pivotal point in political disputes about civil liberties in Western Europe. This debate challenges the scholarly literature on tolerance by highlighting that our understanding of the situational factors shaping tolerance judgments remains limited. This study therefore investigates how the salience of the signaling of religious group membership influences religious tolerance. Based on a unique question-wording experiment embedded in an approximately nationally representative survey, I demonstrate that conspicuous manifestations of religious outgroup membership spark stronger intolerance than subtle manifestations and that anxiety mediates the effect of conspicuous manifestations of religious outgroup membership. Finally, I demonstrate that the effect of the salience of religious outgroup membership is strongest among those who are highly opposed to secularism. I conclude by discussing how these findings constitute an important extension of the extant work on tolerance and feed back into the discussion regarding the role of religion in the public space.