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Assessing the Effectiveness of Section 271 Five Years After the Telecommunications Act of 1996  [PDF]
Daniel R. Shiman,Jessica Rosenworcel
Computer Science , 2001,
Abstract: A major goal of the Telecommunications Act of 1996 is to promote competition in both the local exchange and long distance wireline markets. In section 271 Congress permitted the Bell Operating Companies (BOCs) to enter the long distance market only if they demonstrate to the FCC that they have complied with the market-opening requirements of section 251. This paper examines the logic behind section 271, to determine if it is a reasonable means of achieving increased competition in both the local and long distance markets, given the technical characteristics of the industry and the legal and informational constraints on regulators who must ensure compliance. It also provides an update on the extent of competitive entry in the local exchange market five years after enactment of the Act. In this paper we examine a variety of schemes for ensuring BOC compliance that Congress could have used. Given the characteristics of the industry and the limitations on regulators' ability to observe BOC's efforts, we determine that the use of a prize such as BOC entry into long distance is a superior incentive mechanism. We further determine that conditioning a BOC's long distance entry on its demonstrating compliance with section 251 is a logical method of protecting the long distance market against a BOC discriminating against long distance competitors once it has gained entry. The statistical evidence we look at, using data we have collected on ILEC lines sold to CLECs for POTS services, appears to confirm that section 271 has thus far been effective in ensuring compliance.
The Role of Incentives for Opening Monopoly Markets: Comparing GTE and BOC Cooperation with Local Entrants  [PDF]
Federico Mini
Computer Science , 2001,
Abstract: While the 1996 Telecommunications Act requires all incumbent local telephone companies to cooperate with local entrants, section 271 of the Act provides the Bell companies (but not GTE) additional incentives to cooperate. Using an original data set, I compare the negotiations of AT&T, as a local entrant, with GTE and with the Bell companies in states where both operate. My results suggest that the differential incentives matter: The Bells accommodate entry more than does GTE, as evidenced in quicker agreements, less litigation, and more favorable prices offered for network access. Consistent with this, there is more entry into Bell territories
Debating the Implications of the Urban Councils Act Chapter 29.15 (1996) On the Practice of Good Corporate Governance in Zimbabwe's Urban Local Authorities  [cached]
Edson Paul Mutema
International Journal of Asian Social Science , 2012,
Abstract: This paper debates the implications of the Urban Councils Act (UCA) on the practice of good corporate governance in Zimbabwean urban local authorities. The study revealed that the act upholds corporate governance in urban councils through providing for: council meetings that are open to the public and the press, council minutes which are available for public inspection and a municipal procurement board that manages the tender system of urban councils just to mention a few. However the study also revealed that despite these positive implications the act is counterproductive to the practice of good corporate governance. The UCA is silent on the minimum academic qualifications for one to be a councilor. The act bestows excessive powers to the Minister of Local Government, Rural and Urban Development which creates an environment where central government dominates in the affairs of urban local authorities. The findings of this study have implications that assist in crafting an effective legal instrument critical in developing a sound corporate governance system for urban local authorities.
Executive Equity Incentives, Overconfidence and Corporate Inefficient Investment  [PDF]
Sisi Xiong
Open Journal of Business and Management (OJBM) , 2019, DOI: 10.4236/ojbm.2019.71015
In the past research on equity incentives, the influence of incentive system on individual psychological factors was often neglected. From the perspective of behavioral company finance, this paper takes executives from 2010 to 2016 China A-share listed companies as research samples to research framework for overconfidence, executive equity incentives, and corporate inefficient in-vestment. The results of the study show that equity incentives can alleviate the underinvestment behavior of executives by influencing executives’ over-confidence, and executive overconfidence is partly a sub-mediating effect. However, for over-invested enterprises, the indirect effect of executive over-confidence generated by equity incentives on corporate over-investment is a deterioration, and the direct effect of equity incentives is opposite to the indirect effect. So executives’ overconfidence in equity incentives, in the ex-cessive investment of enterprises, plays a special mediating effect—the cover effect.
Measuring the Effects of Corporate Tax on Corporate Income: The Role of Corporate Income Tax Incentives at Regimanuel Gray (Ghana) Ltd.  [PDF]
Simon Suwanzy Dzreke, Manasey Franklin Dzreke
American Journal of Industrial and Business Management (AJIBM) , 2016, DOI: 10.4236/ajibm.2016.61001
Abstract: Three problems were identified in this study. The first aspect of the problem is that Ghana’s housing market is not affordable for many lower-income Ghanaians, in contravention of the Government of Ghana’s goal of creating a more affordable housing market. The second aspect of the problem is that it is not known whether the Government of Ghana’s corporate income tax incentive for low-cost housing developers has been successful in raising income for developers. The third aspect of the problem is that Regimanuel Gray (Ghana) Ltd. does not yet have a sound empirical basis on which to weigh low-cost versus non-low-cost housing projects in its portfolio. The objective of the study was to determine whether tax incentives at Regimanuel Gray (Ghana) Ltd. were positively associated with company income. It was found that there was a) a statistically significant (p < 0.01) difference between mean income associated with low-income housing (M = $12,567,370, SD = 1,324,085) and mean income associated with non-low-income housing (M = $139,639,000, SD = 6,095,264) and b) a statistically significant (p < 0.01) difference between mean ROI associated with low-income housing (M = 1.415, SD = 0.1721062) and mean ROI associated with non-low-income housing (M = 15.948, SD = 1.226073). The contribution of the study was thus to discover that it is economically inefficient for Regimanuel Gray to engage in low-cost housing projects under the current tax break scheme. The main recommendations emerging this analysis are that a) Regimanuel Gray ought to dedicate more of its productive resources to non-low-cost housing and b) Regimanuel Gray ought to press the government harder for more tax incentives to build low-cost housing.
A Critical Evaluation of Telecommunication Act 1996  [PDF]
Kashif Azim Janjua, Sahibzada Ahmed Noor, Shahzada Alamgir Khan
Journal of Service Science and Management (JSSM) , 2008, DOI: 10.4236/jssm.2008.11008
Abstract: Telecommunication Act 1996 was considered as a milestone in the history of US telecommunication sector, as it aimed at breaking monopoly in local telecommunication market and creating competition. During last 10 years, the pace of competition in local telephony market has been very slow. Baby Bells still hold a strong dominance and a near monop-oly position. They have even spread their monopoly to long distance market by mergers and acquisitions. This shows the failure of the Act. Local monopoly breaking policy, vertical reintegration, universal service and UNE pricing are the major reasons of this failure. Local loop is a natural monopoly and further investment by multiple companies is not efficient. Idea of universal service should be dropped.
The impact of the Choice on Termination of Pregnancy Act of 1996 (Act 92 of 1996) on criminal abortions in the Mthatha area of South Africa
Banwari L. Meel,Ram P. Kaswa
African Journal of Primary Health Care & Family Medicine , 2009, DOI: 10.4102/phcfm.v1i1.36
Abstract: Background: The Choice on Termination of Pregnancy Act of 1996 (Act 92 of 1996) allows abortions to be legally carried out in South Africa. It is not clear how many people are utilising this service. Mthatha is a poverty-stricken area with a high rate of illiteracy. The available infrastructure, such as roads, health facilities and communication, is poor. Method: This was a retrospective, descriptive study carried out at the Nelson Mandela Academic Hospital in Mthatha. The registered criminal abortion cases recorded between 1993 and 2006 were analysed. Results: There were 51 cases of criminal abortions recorded from 1993 to 2006. Of these, 32 were aborted in the first trimester of pregnancy and the rest were in the second trimester. No significant gender differences were observed among aborted babies. 10 of the foetuses were male and nine were female. The highest number (nine) of abortions was recorded in 1993 and in 2005. The highest number of criminal abortions (11) took place in May. Most cases (35) were concealed births and were discovered accidentally either by the public or the police. Conclusion: The Choice on Termination of Pregnancy Act of 1996 (Act 92 of 1996) had no impact on criminal abortions in the Mthatha area of South Africa.How to cite this article: Meel BL, Kaswa RP. The impact of the Choice on Termination of Pregnancy Act of 1996 (Act 92 of 1996) on criminal abortions in the Mthatha area of South Africa. Afr J Prm Health Care & Fam Med. 2009;1(1), Art. #36, 3 pages. DOI: 10.4102/phcfm.v1i1.36
Codifying the corporate opportunity doctrine: The (UK) Companies Act 2006
John Lowry
International Review of Law , 2012, DOI: 10.5339/irl.2012.5
Abstract: Part 10 of the UK Companies Act 2006 codifies the fiduciary and common law duties of directors as a means of addressing the key policy considerations which underpinned the company law reform project launched by the Labour Government in 1998. Focusing on the core fiduciary duty of loyalty and its corporate law manifestation in the form of the ‘corporate opportunity doctrine’, the article critically examines whether the statutory language adequately captures the totality of the duty as developed in the case law. It concludes that the formalistic language of the relevant provisions neither encompasses the breadth of the pre-existing jurisprudence nor addresses the policy objectives of the reform exercise.
Shared Vision and Autonomous Motivation versus Financial Incentives Driving Success in Corporate Acquisitions  [PDF]
Byron C. Clayton
Frontiers in Psychology , 2014, DOI: 10.3389/fpsyg.2014.01466
Abstract: Successful corporate acquisitions require its managers to achieve substantial performance improvements in order to sufficiently cover acquisition premiums, the expected return of debt and equity investors, and the additional resources needed to capture synergies and accelerate growth. Acquirers understand that achieving the performance improvements necessary to cover these costs and create value for investors will most likely require a significant effort from mergers and acquisitions (M&A) management teams. This understanding drives the common and longstanding practice of offering hefty performance incentive packages to key managers, assuming that financial incentives will induce in-role and extra-role behaviors that drive organizational change and growth. The present study debunks the assumptions of this common M&A practice, providing quantitative evidence that shared vision and autonomous motivation are far more effective drivers of managerial performance than financial incentives.
The Mechanisms of Corporate Meetings under the Companies and Allied Matters Act (CAMA) 1990  [PDF]
Aderibigbe, O. I.
International Journal of Advanced Legal Studies and Governance , 2011,
Abstract: The purpose of this study was to assess the mechanism of corporate meetings under the Companies and Allied Matters Act (CAMA) 1990. This review revealed two major types of meetings, public meetings convened by individuals or bodies to which there is an open invitation extended to any member of the public, and meetings of bodies of which the members are limited and known. However, the study was preoccupied with the second category. Therefore, there is the need for the various Legislatures of countries to work towards enacting effective and efficient company legislation to that effect. It is recommended among others that in Nigeria that the fine of N50 for every day of default to hold a statutory meeting should be reviewed to be punitive.
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