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Liability

Distribution by Scientific Domains

Business, Economics, Finance and Accounting	32%
Medical Sciences	25%
Law and Criminology	16%
Humanities and Social Sciences	7%
Psychology	6%
Life Sciences	4%
6 Other Domains	10%

Distribution within Business, Economics, Finance and Accounting

General & Introductory Economics	21%
Financial Accounting	6%
22 Other Subdomains	61%

Kinds of Liability

Terms modified by Liability

Selected Abstracts

INCORPORATING ECONOMIC ANALYSIS INTO UNDERGRADUATE BUSINESS LAW AND LEGAL ENVIRONMENT COURSES: EMPLOYER LIABILITY FOR SEXUAL HARASSMENT AS A MODEL

JOURNAL OF LEGAL STUDIES EDUCATION, Issue 2 2000
Susan Willey
[source]

The Impact of Virtual Embeddedness on New Venture Survival: Overcoming the Liabilities of Newness1

ENTREPRENEURSHIP THEORY AND PRACTICE, Issue 2 2007
Eric A. Morse
In this article, we examine the impact of virtual embeddedness,the establishment of interorganizational connections through the use of electronic technologies,on the likelihood of new venture survival. We explore the effects of recent technological and social changes on traditional conceptions of the liabilities of newness. We argue that virtual embeddedness positively affects new venture survival by decreasing the liabilities of newness associated with a new venture's need to create and manage new roles and systems, lack of extant trust relationships, lack of social capital, and lack of economic capital. This argument has important implications for both the study and management of contemporary new ventures. [source]

Legal Liabilities, Audit Accuracy and the Market for Audit Services

JOURNAL OF BUSINESS FINANCE & ACCOUNTING, Issue 3-4 2002
Sankar De
In quality-differentiated audit markets with client-firms of unknown types, insider-managers of client firms strategically select auditors who respond to legal liabilities to decide their care level. In this signaling game, uninformed-investors use the audit report and the auditors' identity for firm valuation. The analysis shows that increased legal liability increases the auditor's effort and audit accuracy but reduces the demand for high quality auditing because, apart from the increased audit costs, the adverse selection benefit of the worse type reduces with increased accuracy. Furthermore, alternative legal regimes and damage allocation rules alter informational efficiency of the financial market. [source]

Issues in the Drive to Measure Liabilities at Fair Value

AUSTRALIAN ACCOUNTING REVIEW, Issue 21 2000
MICHAEL E. BRADBURY
This paper compares the discussion on liability measurement in Accounting The0y Monograph 10 with the liability measurement requirements in recent international proposals on accounting for financial instruments. Rather than conducting a detailed review of the Monograph, the paper examines three major issues which wawant amplifjing, extending or criticising: What is "fair value"? Why fair value liabilities? Should fair value include an entity's own credit risk? The focus is on financial liabilities such as "plain vanilla" debt; other financial liabilities, such as insurance obligations, pensions, wawanties and environmental damage restoration involve additional considerations and are therefore not considered. [source]

Understanding the Risk of Personal Liability for Employment Discrimination Law

EMPLOYMENT RELATIONS TODAY, Issue 4 2001
James Ledvinda
[source]

Bank Mergers and Small Firm Finance: Evidence from Lender Liability

FINANCIAL MARKETS, INSTITUTIONS & INSTRUMENTS, Issue 2 2008
James E. McNulty
As a merger approaches, the value of repeat business for the target bank can drop sharply, so loan relationships between this bank and small businesses are often disrupted. Small firms sometimes experience serious value destruction as a consequence of this sudden lack of credit. This paper shows that lender liability may result from bank mergers and bankers involved in mergers often engage in aggressive, scorched-earth defense tactics to discourage further litigation. I summarize six lender liability cases to illustrate these points. Bank mergers have been shown to reduce credit availability in a number of studies. Since small firms depend on credit for their daily existence, owners of small firms do have a reason to fear a merger of their bank with a larger institution. Analyzing merger effects with survey data of firms obtained after a bank merger, an empirical strategy used in a number of studies, raises problems since the only firms considered are the ones that survived the bank merger. Suggesting that the problem will cure itself in the long run, an argument advanced in other studies, ignores small firms' daily dependence on credit. In the long run we are all dead. Bank examiners need to evaluate an institution's litigation experience and measure a bank's organizational architecture , its ethical climate. Banks which are repeatedly involved in lender liability lawsuits should be denied future mergers until there is a change in organizational architecture. To assist in evaluating organizational architecture, banks should be required to report their litigation expense on their call reports. Furthermore, regulators should seriously consider the recent suggestion of Carow, Kane and Narayanan (2006) that they take steps to ensure that participants in bank mergers preserve target bank relationships. Otherwise negative effects on small business lending and economic growth will continue as bank consolidation proceeds. [source]

Making the Punishment Fit the Crime and the Criminal: Attributions of Dangerousness as a Mediator of Liability,

JOURNAL OF APPLIED SOCIAL PSYCHOLOGY, Issue 6 2000
Catherine A. Sanderson
This research examines how individuals use information regarding characteristics of crimes (e. g., crime severity) and characteristics of the offender (e. g, prior criminal record) to form an impression of the criminal as dangerous to society, and to make liability judgments. Two studies presented college students and community members with crime scenarios and asked for ratings of crime severity, likelihood of recidivism, perceived dangerousness of the offender, and liability. Type of crime, severity. and likelihood of recidivism significantly predicted both liability and perceived dangerousness. Further more, in crimes against people only, the effects of severity and recidivism on liability were partially mediated by individuals' perceptions of the offender as criminally dangerous. The discussion examines the implications of these findings for attribution theory and sentencing in the criminal-justice system. [source]

Costly State Verification with Varying Risk Preferences and Liability

JOURNAL OF ECONOMIC SURVEYS, Issue 1 2006
Gaia Garino
Abstract., In the scenario of loan contracts with costly state verification, we examine how the properties of the set of states, different risk preferences of debtors and varying liability of lenders affect the structure of optimal repayments. In particular, we show that with risk-averse debtors, a general set of states, a constant observation cost and both unlimited and limited lender liability, the debtor is strictly better off revealing the true state of nature when his realized revenue is low, which implies that optimal debtor consumption has a downward jump around the single switch from observed to unobserved states. If the debtor can destroy revenue or if the debtor is risk neutral, this non-monotonicity of consumption disappears. Moreover, given the loan size, there is more monitoring under debtor-risk aversion than risk neutrality. We present simulations showing that a contract with unlimited lender liability and debtor-risk aversion has a higher expected observation cost but a lower variance of consumption than a contract with limited lender liability. Finally, we discuss the problems of commitment to verification and contract renegotiation in this framework. [source]

The Bonding Effects of Directors' Statutory Wage Liability: An Interactive Corporate Governance Explanation

LAW & POLICY, Issue 4 2002
Ronald B. Davis
Canadian corporate directors are personally liable to the corporation's employees for unpaid wages. The dominant rationale is the protection of vulnerable employees. A proposal under consideration to exonerate directors from this liability responds to claims that directors of financially troubled corporations resign prematurely, lessening the realized value potential of the firm. Scholars have also argued that a "liability chill" causes directors to make inefficient, risk-averse investment decisions while the corporation is solvent. Paradoxically, exoneration may actually decrease the value of the firm because directors' liability for employees' wages increases efficiency in corporate governance by reducing agency costs. It serves as a bond by directors to corporate stakeholders that they will diligently restrain harmful managerial behavior. [source]

Tort, regulation and environmental liability

LEGAL STUDIES, Issue 1 2002
Maria Lee
This paper considers certain proposals made by the European Commission on environmental liability, particularly in its White Paper on Environmental Liability. Civil liability has made a relatively minor contribution to environmental policy in recent decades, given its many well-known shortcomings when applied to environmental problems. Its usefulness, however, is being reassessed, given something of a consensus that traditional forms of regulation are reaching the limits of their effectiveness and that new approaches to environmental law are necessary. This paper will consider how the White Paper would move beyond the limitations of existing civil liability frameworks, in particular the fundamental incompatibility between the interests recognised in English tort law and the interests at stake in environmental protection. The Commission's recent retreat from the more ambitious elements of the White Paper may be a matter of concern. [source]

Crime and Punishment: Rehabilitating Retribution as a Justification for Organizational Criminal Liability

AMERICAN BUSINESS LAW JOURNAL, Issue 1 2010
Regina A. Robson
First page of article [source]

International Issues in Secondary Liability for Intellectual Property Rights Infringement

AMERICAN BUSINESS LAW JOURNAL, Issue 2 2008
Lynda J. Oswald
First page of article [source]

Somebody Has to Pay: Products Liability for Spyware

AMERICAN BUSINESS LAW JOURNAL, Issue 1 2008
Jacob Kreutzer
First page of article [source]

The Substantive Limits of Liability for Inaccurate Predictions

AMERICAN BUSINESS LAW JOURNAL, Issue 1 2007
Hugh C. Beck
First page of article [source]

Criminal Liability for Document Shredding After Arthur Andersen LLP

AMERICAN BUSINESS LAW JOURNAL, Issue 4 2006
Albert D. Spalding Jr.
First page of article [source]

The Perils of Control: Affiliated Liability under the WARN Act

AMERICAN BUSINESS LAW JOURNAL, Issue 2-3 2004
Marisa Anne Pagnattaro
[source]

Liability and volunteer organizations: A survey of the law

NONPROFIT MANAGEMENT & LEADERSHIP, Issue 2 2003
J. Michael Martinez
The question of how and when liability attaches is one of the most important issues facing volunteer organizations today. The liability issue has three related components: (1) whether the organization is liable to third parties for acts performed by volunteers, (2) whether the organization is liable to volunteers who are injured while performing their duties, and (3) whether an individual volunteer is liable for acts performed while working with a volunteer organization. This article explores each of these issues and suggests effective risk management practices that can reduce, although not eliminate, liability in most instances. [source]

Patient Injury and Liability: Why Worry?

THE JOURNAL OF LAW, MEDICINE & ETHICS, Issue 3-4 2001
Barry R. Furrow
No abstract is available for this article. [source]

Moral Liability to Defensive Killing and Symmetrical Self-defense

THE JOURNAL OF POLITICAL PHILOSOPHY, Issue 2 2010
David R. Mapel
First page of article [source]

Contractual Limitations on the Auditor's Liability: An Uneasy Combination of Law and Accounting

THE MODERN LAW REVIEW, Issue 4 2009
Article first published online: 1 JUL 200, P. E. Morris
Operative as from 6 April 2008, sections 532,538 of the Companies Act 2006 create a new liability limitation regime in contractual relationships between audit firms and companies in relation to the statutory audit function which overturns an almost eighty years old fundamental principle of company law. This new regime is the product of continuing pressure by the audit profession for liability reform and concern by Government regarding the market structure for audit services. This commentary critically evaluates the regime from law and accounting perspectives. It concludes by reflecting on its longer term implications for audit quality, perceptions of the audit profession and the evolution of a future research agenda. [source]

State Liability: Tort Liability and Beyond

THE MODERN LAW REVIEW, Issue 4 2005
Jesse Elvin
First page of article [source]

Product Liability: Beyond Class Action

AUSTRALIAN ECONOMIC PAPERS, Issue 4 2000
Dan Sasaki
Can punitive product liability enhance economic efficiency? A very simple economic theory, assuming that the probability and the degree of product dissatisfaction are functions only of the producer's not of the consumer's effort, is modelled and analysed in this paper. The qualitative conclusion hinges critically upon whether the legal liability is reflected on price determination. If the price of the product is insensitive to product liability legislation, then punitive liability beyond the class action (i.e., compensatory payments more than proportional representation of potentially dissatisfied consumers) can induce socially desirable levels of effort exerted by the producer firm. This affirmative effect disappears if the price fully reflects all the expected legal liabilities, whereby punitive liability tends to reduce economic efficiency by encouraging costly lawsuit. [source]

Liability, Responsibility and Blame: British Ransom Victims in the Mediterranean Periphery, 1860,81

AUSTRALIAN JOURNAL OF POLITICS AND HISTORY, Issue 3 2000
Martin Blinkhorn
Between 1865 and 1881 there occurred in southern Europe and the Balkans several cases of kidnapping in which British subjects were seized and held to ransom by brigands. Most ended peacefully (though expensively) with the negotiation and handing over of a substantial ransom, usually in gold, and the subsequent freeing of the hostage(s); one case, that of the so-called ,Marathon murders' of 1870 in Greece, ended in tragedy. Quite apart from the problems these incidents created for the victims and their families, some kidnappings also raised important questions for the governments involved, notably who was to blame for such incidents, who was formally responsible for them, and , crucially , who was ultimately liable for the cost involved? These questions and the responses of British governments to them, culminating in 1881 with the enunciation by Gladstone's administration of a clear policy on such matters, form the core of this article. [source]

Modeling Goodwill for Banks: A Residual Income Approach with Empirical Tests,

CONTEMPORARY ACCOUNTING RESEARCH, Issue 1 2006
Joy Begley
Abstract This paper uses the residual income valuation technique outlined in Feltham and Ohlson 1996 to examine the relation between stock valuations and accounting numbers for a prototypical banking firm. Prior work of this nature typically assumes a manufacturing setting. This paper contributes to the prior research by clarifying how the approach can be extended to settings where value is created from financial assets and liabilities. Key elements of our model include allowing banks to generate positive net present value from either lending or borrowing activities, and allowing for accounting policy to affect valuation through the loan loss allowance. We validate our model using archival data analysis, and interpret coefficients in light of our modeling assumptions. These results suggest that banks create value more from deposit-taking activities than from lending activities. Vuong tests confirm that our model outperforms adaptations of the unbiased accounting model of Ohlson 1995 and adaptations of the base model proposed by Beaver, Eger, Ryan, and Wolfson 1989. However, our model is outperformed by the popular net income-book value model used in many empirical studies, and we can formally reject one of our key modeling assumptions. These tests of our model suggest future avenues for improving upon the theoretical analysis. [source]

Tests of a Deferred Tax Explanation of the Negative Association between the LIFO Reserve and Firm Value,

CONTEMPORARY ACCOUNTING RESEARCH, Issue 1 2000
DAN S. DHALIWAL
Guenther and Trombley (1994) and Jennings, Simko, and Thompson (1996) document a negative association between a firm's last-in, first-out (LIFO) reserve and the market value of its equity. In this paper, we test a deferred tax explanation of this negative association. Specifically, we argue that investors, conditional on adjusting inventory to as-if first-in, first-out (FIFO), estimate a firm's future LIFO liquidation tax burden as its LIFO reserve multiplied by the appropriate corporate tax rate and include this tax-adjusted LIFO reserve in the valuation of a LIFO firm's net assets. On the basis of this argument, the tax-adjusted LIFO reserve is in effect an estimate of an off-balance-sheet deferred tax liability and, as a result, we predict a negative association between the tax-adjusted LIFO reserve and market value of equity. We test our deferred tax explanation by estimating a valuation model in which a firm's market value of equity is expressed as a function of the firm's assets, liabilities, deferred tax liability, and tax-adjusted LIFO reserve; the model is estimated separately in years preceding and following the reduction of tax rates mandated by the US Tax Reform Act of 1986. Test results provide strong support for the deferred tax explanation of the negative association between a firm's LIFO reserve and the market value of its equity. [source]

Affordable Prices for Essential Medicines for Developing Countries: Some Economic Issues

DEVELOPMENT POLICY REVIEW, Issue 3 2004
Homi Katrak
This article discusses some recent developments that may help bring about more affordable prices of essential medicines for developing countries. Governments of developing countries should support campaigns for such prices. Generic competition will also bring gains, though these may differ between different income groups. Enterprises could be persuaded to provide free, or subsidised, medicines for their employees, by the expenditures being allowed against liabilities for profits tax. The UN Global Fund could complement the efforts of public action groups, enhance a government's fiscal capabilities and also encourage other measures to reduce the costs of providing medicines. [source]

Financial dollarization: evaluating the consequences

ECONOMIC POLICY, Issue 45 2006
Eduardo Levy Yeyati
SUMMARY Financial dollarization The presence in residents' portfolio of foreign-currency assets and liabilities (or ,financial dollarization') has been alleged to influence monetary policy in developing economies and, especially, to cause debtors' insolvency in the aftermath exchange rate depreciations (the ,balance sheet effect'). The abundant and influential literature on these implications, however, contrasts sharply with the scarcity of empirical work aimed at confirming or refuting them. Using a new database, this paper assesses the evidence on the determinants of financial dollarization and tests whether its empirical effects on monetary and financial stability and on economic performance are consistent with theoretical predictions. It finds that financially dollarized economies display a more unstable demand for money, a greater propensity to suffer banking crises after a depreciation of the local currency, and slower and more volatile output growth, without significant gains in terms of domestic financial depth. The results indicate that active de-dollarization policies may be advisable for the many economies, including Central and Eastern European ones, where foreign-currency denominated assets and liabilities are important in residents' financial portfolios. , Eduardo Levy Yeyati [source]

The Impact of Virtual Embeddedness on New Venture Survival: Overcoming the Liabilities of Newness1

Increased Concentration in Banking: Megabanks and Their Implications for Deposit Insurance

FINANCIAL MARKETS, INSTITUTIONS & INSTRUMENTS, Issue 1 2005
Kenneth D. Jones
During the past two decades, the U.S. banking industry has experienced an unprecedented wave of consolidation, marked by a substantial decline in the number of insured depository institutions and the emergence of banking behemoths with assets totaling in the hundreds of billions of dollars. This unparalleled concentration of assets and deposits among a handful of "megabanks" has important implications for deposit insurance. Most importantly, the Federal Deposit Insurance Corporation (FDIC) now faces a situation in which the failure of even a single megabank could overwhelm the resources immediately available to the deposit insurance system and expose both the banking industry and the government (i.e., taxpayers) to huge potential liabilities. This article highlights the current structure of the banking industry, examines the threat that this structure poses to the deposit insurance funds, and suggests possible approaches for dealing with megabanks and the increasing concentration of insured deposits. [source]

Market's perception of deferred tax accruals

ACCOUNTING & FINANCE, Issue 4 2009
Cheryl Chang
G14; M41 Abstract This study investigates the value relevance and incremental information content of deferred tax accruals reported under the ,income statement method' (AASB 1020 Accounting for Income Taxes) over the period 2001,2004. Our findings suggest that deferred tax accruals are viewed as assets and liabilities. We document a positive relation between recognized deferred tax assets and firm value using the levels model, while the results from the returns model suggest that deferred tax liabilities reflect future tax payments. The balance of unrecognized deferred tax assets provides a negative signal to the market about future profitability, particularly for companies from the materials and energy sectors and loss-makers. [source]