Public Finance Economics Assignment Example | Topics and Well Written Essays - 2500 words

Public Finance Economics - Assignment Example Firms based in large home markets like the United States and the European Union (EU) should pay great attention to domestic environmental regulations. In contrast, firms from smaller countries like Canada (which is one-tenth the size of the United States), most Asian countries and all Latin American countries should focus primarily upon the environmental regulations of their major customers (usually the "triad" economies of the United States, the EU and Japan). Current paper develops a new conceptual framework which addresses this asymmetry by examining the interactions between government and the firm. In the following section of the paper I examine the relationship between environmental regulations and firms' responsiveness to them providing managerial perspective on compliance to international environmental policies. Paper particularly emphasizes the environmental side agreement of the North American Free Trade Agreement (NAFTA) linking Canada, Mexico and the United States. NAFTA i s a major breakthrough since it is the first international trade agreement (other than internal EU regulations) to explicitly incorporate environmental issues, and to establish a bureaucracy to administer trade and environment interaction, primarily through the NAFTA Commission on Environmental Cooperation (CEC). NAFTA and the CEC can be seen as benchmarks for analysis of other international environmental organizations and agreements. Further, the discussion of a corporate strategy framework follows with which managers can determine the appropriate choice of strategy in response to both international and national environmental pressures. They can comply with new environmental regulations, but also develop green capabilities which may allow them to outperform competitors on environmental strategy grounds alone. Green strategies may focus on responding strongly to national regulations, international regulations or both simultaneously. In Section 4 we discuss the argument that firms can seek to avoid domestic environmental regulations by moving offshore; the Mexico pollution-haven case. 1. A MANAGERIAL PERSPECTIVE ON COMPLIANCE WITH INTERNATIONAL ENVIRONMENTAL POLICIES At the level of the firm targeted by international environmental policies, the corporate response in terms of compliance depends upon its expected economic benefits. These economic benefits can be high or low, as shown on the vertical axis of Figure 1. A second issue (on the horizontal axis) is whether these benefits are driven primarily by expected improvements in industrial performance (e.g., market share, profitability, growth, etc.) or by sanctions associated with non-compliance. In the latter case, it is mainly the strength of the administrative enforcement apparatus which determines compliance. For a discussion on the benefits of compliance, see Barrett (1992), Henriques and Sadorsky (1996), Nehrt (1998), Walley and Whitehead (1994). The four possible managerial responses are the following. In quadrant 1, performance driven compliance prevails.

Land Law Case Study Example | Topics and Well Written Essays - 1500 words

Land Law - Case Study Example If it is not registered (as some purchases before that date will not be), the legal owners will be listed on the document called the conveyance, which passes the property from one owner to another" (Joint Ownership of Property. 2008). However, the real value of the property lies in the second type of ownership, i.e. equitable or beneficial ownership as this ownership ensures the right to "the right to live in and use the property, and the right to share in the proceeds of any sale." Also, the equitable owner also can control a legal owner and decide on the sale of the property. As an immediate result of this factor, the buyer of the property will suffer much generally because it is normally difficult for the buyer to realise the existence of an equitable owner form the usual searches of the land or enquiries of the seller. As a result, the buyer will be bound to allow the beneficial owner after the business is over. (Joint Ownership of Property. 2008). It is also necessary that in the case of the legal and the beneficial owners of a property are different there arises a situation called trust, an arrangement formulated by a deed or written agreement. In the present case given for discussion, the two sisters Jennifer and her sister Clarissa conveyed the property as beneficial joint tenants. Thus, it is pertinent to have an idea of how such a property can be held in beneficial joint tenants which is one of the two ways of joint property, the other being the beneficial tenants in common. In the case of beneficial joint tenants, the joint owners are equally entitled to the property by which both share the rights to enjoy the benefits of the property together. Thus, the two sisters enjoy the unregistered country cottage property in Maple Leaf jointly. And, as it is evident, they do not enjoy separate shares but own the whole thing in common to each other and neither Jennifer nor Clarissa could enjoy separate share which each could sell or leave in a will. As it is clear in the case, Jennifer applies for the permission for the sale of her property, but immediately breaths her last. At her death, her application for the sale of propert y cannot succeed as in the case where "one person dies then the survivor becomes the owner of the whole property. This happens automatically without any further formality" (Joint Ownership - the methods). Also, let this be clear that Jennifer's case, at her death, in application for the sale of property cannot succeed as the law entails the person left the absolute ownership of the property. "If there is only one joint tenant left, he or she becomes outright owner of the property. Because no joint owner has a defined share, their interest in the property does not become part of their estate when they die, but simply disappears" (Joint Ownership of Property. 2008). However, we need to consider whether the particular case of Jennifer would succeed at the time of her application for sale of the property. The specifications of the case are that the property was an unregistered one conveyed to the sisters as beneficial joint tenants; the share of Jennifer in the deal was 160,000 of the total 280,000; and the children of Clarissa had Attention Hyperactivity Deficit