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Principal (commercial law)

About: Principal (commercial law) is a research topic. Over the lifetime, 1579 publications have been published within this topic receiving 35379 citations. The topic is also known as: Principal (commercial law).


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01 Jan 2006
TL;DR: In the 1990s, the United Nations Standard Rules for Non-Custodial Measures 1 (the so-called Tokyo Rules) were adopted, the principal goal of which was to reduce the traditional reliance on imprisonment as a legal punishment as mentioned in this paper.
Abstract: How might a legislature reduce the use of custody as a sanction? Constraining rising – or reducing stable – prison populations remains a challenge confronting most western nations. It is now fully twenty years since the United Nations Standard Rules for Non-Custodial Measures 1 (the so-called “Tokyo Rules”) were adopted, the principal goal of which was to reduce the traditional reliance on imprisonment as a legal punishment. Throughout the 1990s, however, prison populations rose in many common law jurisdictions, particularly England and Wales and the United States. 2

8 citations

Posted Content
TL;DR: The Sainovic decision of the International Criminal Tribunal for the Former Yugoslavia (ICTY) in 2014 as discussed by the authors is a notable exception to the Perisic decision, in which the appeals chamber found that to establish liability for aiding and abetting, where the acts of the accused are remote from the principal crimes, the assistance must have been specifically directed to furthering the criminal activities.
Abstract: In the January 23, 2014 decision of Prosecutor v. Sainovic, the appeals chamber of the International Criminal Tribunal for the Former Yugoslavia (ICTY) upheld convictions of six defendants for crimes related to the 1999 ethnic cleansing of Kosovo by Serb forces. The defendants had held high-ranking positions within the army and government ranks; Sainovic himself was one of Milosevic’s closest and most trusted associates, the prime minister of Serbia and deputy prime minister of the Former Republic of Yugoslavia (FRY). This article examines the Sainovic decision within the context of ICTY jurisprudence on liability for aiding and abetting and for participating in a Joint Criminal Enterprise. In particular, Sainovic is distinguished from the aberrant decision of Perisic, in which the appeals chamber found that to establish liability for aiding and abetting, where the acts of the accused are remote from the principal crimes, the assistance must have been specifically directed to furthering the criminal activities. Without this “specific direction”, large-scale assistance to another army’s war efforts would be insufficient to establish individual criminal liability, even where the accused had knowledge of the crimes being perpetrated. The Sainovic appeals chamber, after undertaking extensive analysis of international jurisprudence and customary international law, rejected the Perisic approach as a divergence from the established standards for aiding and abetting liability recognized internationally. Contrary to the Perisic decision, Sainovic focused on the considerable cooperation between Serb forces operating outside and inside the FRY, and the shared common purpose of the defendants and those perpetrating the crimes. The Sainovic appeals chamber’s efforts to thoroughly examine and clarify the substantive law and create a comprehensive historical record are a welcome contribution to international criminal jurisprudence, and may serve as critically important guidance for future decisions of the ICTY and the International Criminal Court.

8 citations

Journal ArticleDOI
TL;DR: The potential misalignment of interests between asset owners and asset managers can lead to four agency costs: asymmetry of skill or alpha, asymmetrized incentives, asymmetric of liquidity, and asymmetric risk taking.
Abstract: Agency theory is about striking the right balance between principals and their agents. In any agency relationship, the motives and desires of the agent may be different from that of the principal. For public corporations, agency theory is often called corporate governance. There is a growing awareness, however, that agency theory also applies to the investment management industry in which asset owners delegate the caretaking of their investments to asset managers. The potential misalignment of interests between asset owners and asset managers can lead to four agency costs: asymmetry of skill or alpha, asymmetry of incentives, asymmetry of liquidity, and asymmetry of risk taking.

8 citations

Journal ArticleDOI
TL;DR: In this paper, the authors analyzed the principles of good university income-generating governance using agency theory perspective and found that the principles are law-abiding, academic oriented, accountable, professional, independent and transparent.
Abstract: The objective of this study aims to comprehend and portray the management opinions of the three Public Service Board (PSB) universities in Indonesia dealing with the good university income generating governance. Furthermore, this study applies epistemological subjectivism, interpretivism paradigm with multi-site design. The findings were analyzed using agency theory perspective. Therefore, the finding results show that the principles of good university income generating governance is law-abiding, academic oriented, accountable, professional, independent and transparent. The emergence of the principle of law-abiding indicate hierarchical relations agency that is purely between the government and the universities in income generation. The principle of academic orientation, accountability, independence and autonomy suggests that the goal synergy of both principal and the agent are the essence of agency relationship. Meanwhile, the professionalism demonstrated that the agent fully realizes which the principal requires certain tasks to be implemented by the agents because agents have the skills required. Yet, independence gained through wide autonomy both on academic as well as non-academic matters. The principle of transparency demonstrates the importance of the information factor in agency relationship. Agent transparency is necessary for the principal due to the difficulty in obtaining information dealing with the headway of the agent itself. Keywords: Good University Governance, Income Generating, Agency Theory

8 citations

Posted Content
TL;DR: The principal-agent literature has focused on situations where both principal and agent are assumed to be capable of defining and defending their own interests as mentioned in this paper, and has not considered a large proportion of cases where the principal is incapable of acting on her own behalf, and so is assigned an agent by law or custom.
Abstract: The principal-agent literature has focussed on situations where both principal and agent are assumed to be capable of defining and defending their own interests. The principal-agent literature has thus ignored an important set of cases where the principal is incapable of acting on her own behalf, and so is assigned an agent by law or custom. Such cases account for around 40% of humanity and for a similarly substantial proportion of all principal-agent interactions. This paper applies principal-agent analysis to one such case, the family, where the child is taken as the principal and the parent is her agent. The principal-agent problem within families creates a prima facie case for state interventions to protect child-principals, since some parents will shirk and the consequences of such shirking may be serious and irreversible damage to the child-principal, who cannot defend herself. The principal-agent perspective on the family sheds new light on two old debates: about whether state welfare services should be provided in cash or in kind, and about user fees for social services involving children.

8 citations


Performance
Metrics
No. of papers in the topic in previous years
YearPapers
20222
202130
202037
201953
201839
201755