Showing papers on "Concurrence published in 1990"

The Justices Write Separately: Uses of the Concurrence by the Rehnquist Court

Abstract: The concurrence is a neglected element of appellate jurisprudence. Although there is a substantial literature about the dissent, little has been said about the role of the concurrence. This article identifies and examines the ways in which members of the Rehnquist Court have employed this flexible device to serve a variety of purposes. The limiting concurrence, the most traditional use, allows a member of the majority to qualify agreement through the caveat that the Court's opinion should apply only to the circumstances of the present case. In contrast, the expansive concurrence, a much less common use, seeks to enlarge the applicability of the majority opinion. The emphatic concurrence seeks only to underscore its author's view of the majority position. Finally, the doctrinal concurrence offers its own alternate theory to reach the majority's result; it is the quintessentially right result, wrong reason opinion. The consequences of the use of the concurrence include a substitution of a plurality opinion for a majority opinion, an obstacle to a purely unanimous opinion, or a splintered decision that undermines the force of a more cohesive outcome. Although critics of the Rehnquist Court have complained that such uses weaken the Court's authority, they may also provide benefits by deferring resolution of a difficult issue to a more suitable case, by illuminating for bench and bar the implications of a majority opinion, or by placing an opinion in context. Used with restraint, the concurrence may contribute to a more finely tuned jurisprudence.

Municipal financial reporting and competition among underwriters for new issues of general obligation bonds

Abstract: . This study develops and tests the hypothesis that the quality and quantity of municipal financial information are positively associated with increased competition in the primary market for new issues of general obligation bonds. A measure of market competition, the number of underwriter bids tendered, is regressed on several market-related and issue-specific control variables and a group of financial reporting test variables. A sample of 224 new issues of municipal general obligation bonds sold by competitive bid between 1978 and 1983 is examined. The results generally support the hypothesis. Employment of an independent CPA firm auditor and more extensive disclosure increase competition, as expected. However, no support was found for the argument that holding a Government Finance Officers Association Certificate of Conformance increases the level of underwriter competition. Resume. Les auteurs etablissent et verifient l'hypothese selon laquelle la qualite et la quantite d'information financiere municipale sont en relation positive avec l'augmentation de la concurrence sur le marche primaire pour les nouvelles emissions d'obligations generales. Une mesure de la concurrence sur le marche, soit le nombre d'offres de preneurs ferme, est soumise a une analyse de regression basee sur plusieurs variables de controle reliees au marche et particulieres a l'emission et sur un groupe de variables-tests reliees a l'information financiere. Les auteurs examinent un echantillon de 224 nouvelles emissions d'obligations municipales generales vendues par soumission concurrentielle entre 1978 et 1983. Les resultats obtenus corroborent de facon generale l'hypothese posee. Le recours a un verificateur d'un cabinet de CPA independant et la publication d'informations plus etendues accentuent la concurrence, comme prevu. Cependant, rien ne confirme l'hypothese selon laquelle la detention d'un Government Finance Officers Association Certificate of Conformance intensifie le degre de concurrence chez les preneurs ferme.

The Justices Write Separately: Uses of the Concurrence by the Rehnquist Court

Abstract: The concurrence is a neglected element of appellate jurisprudence. Although there is a substantial literature about the dissent, little has been said about the role of the concurrence. This article identifies and examines the ways in which members of the Rehnquist Court have employed this flexible device to serve a variety of purposes. The limiting concurrence, the most traditional use, allows a member of the majority to qualify agreement through the caveat that the Court's opinion should apply only to the circumstances of the present case. In contrast, the expansive concurrence, a much less common use, seeks to enlarge the applicability of the majority opinion. The emphatic concurrence seeks only to underscore its author's view of the majority position. Finally, the doctrinal concurrence offers its own alternate theory to reach the majority's result; it is the quintessentially right result, wrong reason opinion. The consequences of the use of the concurrence include a substitution of a plurality opinion for a majority opinion, an obstacle to a purely unanimous opinion, or a splintered decision that undermines the force of a more cohesive outcome. Although critics of the Rehnquist Court have complained that such uses weaken the Court's authority, they may also provide benefits by deferring resolution of a difficult issue to a more suitable case, by illuminating for bench and bar the implications of a majority opinion, or by placing an opinion in context. Used with restraint, the concurrence may contribute to a more finely tuned jurisprudence.