The implementation of the EU Prospectus Directive (2003/71/EC)(the ‘Directive’) has resulted in significant changesand new opportunities for many issuers of securities in theEuropean Capital Markets. The Directive and its subordinatelegislation, Commission Regulation (EC) No 809/2004 (the ‘EURegulation’) requires, as did the previous EU legislation,that a prospectus, containing certain required disclosure, beapproved by an EEA competent authority and published beforesecurities are offered to the public or admitted to an EEA-regulatedmarket. But, in doing so, it introduces important changes thatwill, its architects hope, result in a more active cross-borderretail market in securities within the EEA. These changes includea common language regime, under which, in cross-border situations,an English language version of the prospectus will normallybe valid for admission to regulated markets or a public offeranywhere in the EEA, thus avoiding expensive and time-consumingmultiple translations. It also provides . . . [Full Text of this Article]   1. Introduction2. French highlightsApproval of the prospectusScopeContent of prospectusesRisk factorsLanguageResponsibility for prospectusesPublicationInformation to be provided within prospectuses3. Summary   1. Introduction2. Scope of application of the securities Prospectus Act3. ‘Frequent issuer exemption’4. Publication rules5. Prospectus supplement and investor withdrawal right6. Summary   1. Introduction2. Implementation3. Competent authorityListing rules/prospectus rulesUnregulated offers4. Responsibility/liability5. Summary   1. Introduction2. Implementation3. National variations from the Directive4. Practical impact5. Summary   1. Introduction2. Regulatory framework3. Luxembourg Prospectus Directive options4. Public offers of securities5. Summary   1. Introduction2. Definition of ‘security’3. Concept of ‘offer’4. Supplemental prospectus and withdrawal rights5. Published prospectus identical to approved prospectus6. Six days rule7. Language8. Public offer exemption9. Summary   1. Introduction2. The RDL 53. The CNMV notice4. The RD 13105. The order 35376. Summary   1. Introduction2. Standardized prospectus content requirements3. The Official List of the FSA (the ‘Official List’)4. Official List eligibility requirements5. The Alternative Investment Market (‘AIM’)6. Withdrawal rights7. Draft prospectuses8. Qualified investor exemption9. Summary  相似文献   
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129.
Translation of the Language of the Common Law into Legal French: Myth or Reality     
Anne Wagner 《International Journal for the Semiotics of Law》2003,16(2):177-193
Translating (and so construinga specialized source text) means producing afunctional text in a linguaculture target textthat is needed for specific communicativepurposes by processing the information given ina previous text in a different linguaculturesource text. Consequently, the comparison oflegal texts and terms from English to Frenchinevitably involves a theory of equivalence –if ever possible. The aim of this article is toreview the various hindrances or pitfalls inlegal translation and also a possible theory ofhow to avoid misunderstandings between thesource and the target texts.  相似文献   
130.
Mapping Legal Semiotics     
Anne Wagner 《International Journal for the Semiotics of Law》2010,23(1):77-82
The essay seeks to harness the diverse and innovative work to date of legal semiotics. It seeks to bring together the cumulative research traditions of these related areas as a preclusion to identifying fertile avenues for research.  相似文献   
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121.
The analysis of cannabis plant material submitted to seized‐drug laboratories was significantly affected by the signing of the Agricultural Improvement Act of 2018, which defined hemp and removed it from the definition of marijuana in the Controlled Substances Act. As a result, field law enforcement personnel and forensic laboratories now are in need of implementing new protocols that can distinguish between marijuana‐type and hemp‐type cannabis. Colorimetric tests provide a cost‐effective and efficient manner to presumptively identify materials prior to submission to a laboratory for analysis. This work presents the validation of the 4‐aminophenol (4‐AP) color test and demonstrates its utility for discriminating between marijuana‐type and hemp‐type cannabis (i.e., typification). Validation studies included the testing of numerous cannabinoid reference materials, household herbs, previously characterized cannabis plant samples, and real‐case samples. The 4‐AP test reliably produces a pink result when the level of Δ9‐tetrahydrocannabinol (THC) is approximately three times lower than the level of cannabidiol (CBD). A blue result is generated when the level of THC is approximately three times higher than that of CBD. Inconclusive results are observed when the levels of THC and CBD are within a factor of three from each other, demonstrating the limitations of the test under those scenarios.  相似文献   
122.
Critics of giving citizens under 18 the right to vote argue that such teenagers lack the ability and motivation to participate effectively in elections. If this argument is true, lowering the voting age would have negative consequences for the quality of democracy. We test the argument using survey data from Austria, the only European country with a voting age of 16 in nation-wide elections. While the turnout levels of young people under 18 are relatively low, their failure to vote cannot be explained by a lower ability or motivation to participate. In addition, the quality of these citizens' choices is similar to that of older voters, so they do cast votes in ways that enable their interests to be represented equally well. These results are encouraging for supporters of a lower voting age.  相似文献   
123.
In contrast to national elections, both parties and voters are assumed to think that ‘less is at stake’ in European elections: Campaigns are less intense, turnout is lower, and citizens are more inclined to ‘vote with their hearts’. The latter should be reflected in differing rationales of voting – party choice should not be based on identical determinants in national and European elections. However, this hypothesis has not been sufficiently tested and most of the research is based on the analysis of aggregated data while causal explanations are located on the micro level. This paper compares vote functions of individuals in regard to the 2009 European Parliament election as well as the 2009 German Federal election. Using data from the German Longitudinal Election Study (GLES), comparison of explanatory models shows that party choice on both levels is neither fundamentally different nor does it fit into the pattern of second-order electoral behaviour.  相似文献   
124.
Abstract: This article describes a reform to improve delivery of state‐funded employment services in the province of Quebec. It is based on a six‐year field study conducted during the reform process and presents the reform's objective, the way it was implemented, and some of the lessons learned during the reform process. This study focuses on three points: the key steps that led to the implementation of an output‐based contracting system between the state and non‐profit organizations; why the process of implementing private‐sector practices was unexpectedly long and complex; and the side‐effects associated with the reform.  相似文献   
125.
Competent public agencies are associated with better economic outcomes. Beyond competence, political leaders need to secure the loyalty of their agencies. Unfortunately, several theories predict a tradeoff between these two valued features. This paper finds that recruitment into agencies is meritocratic where (1) agency officials have poor outside options, (2) careers in agencies are long-lasting, and (3) agency loyalty is important. Moreover, agency competence is lower when (4) loyalty is important but the time horizon is short, and (5) outside opportunities improve but the time horizon is long. This evidence fits best with a theory of loyalty as non-contractible behavior.  相似文献   
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Dr. Axel Gehringer HengelerMueller David Byers McCann FitzGerald, Solicitors, Dublin, Ireland Stefano Cuccia Head of Regulation, TLX, Milan Henri Wagner Allen and Overy, Luxembourg Petra Zijp NautaDutilh, Amsterdam José Manuel Cuenca and Yolanda Azanza Clifford Chance Daniel Bushner and Jonathan Parry Ashurst, London The first 150 words of the full text of this article appear below.
   Editor's Note    France    Germany    Ireland    Italy    Luxembourg    Netherlands    Spain    United Kingdom
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