ISSN 2047-8747 (Print) ISSN 2047-8755 (Online) Volume 7 Issue 1 (2018)

Functioning of Water Markets in South Africa: A Comparison with International Markets
DD Tewari - Volume 6 Issue 3
Water markets have developed in 1980s on the back of climate change, rapid population growth and the expansion of irrigated agriculture, which have increased water scarcity around the world. Africa and South Africa in particular is no exception. Driven by the need to explore measures that are economically efficient in managing water demand, this study explores the relevance of water markets in South Africa. What makes water markets work is particularly explored here in brief and discussed whether these favourable conditions exist in South Africa. A schematic institutional framework/model is suggested based on review of past studies. The model is sufficiently generalised and can explain water market phenomena in various situations. An assessment is made whether these water markets are working efficiently or will they work in the future in the South African context.
Re-thinking the Disclosure Requirements of Share Repurchase in Japan-a comparison with the US and UK
Yusuke Miyazaki - Volume 6 Issue 3
In 2001, an amendment to Japanese commercial law was initiated allowing share repurchases. This amendment enabled Japanese corporations to purchase their stocks at any time, abolishing most of the share buyback regulations. It was clear that Japanese law had moved towards the deregulation of share repurchases, which effectively urges listed companies to repurchase their shares. This paper re-examines the significance and function of disclosure requirements within the context of share repurchasing, considering that information regarding repurchases affects investors’ decision making. The paper mainly examines the disclosure regulations of open market repurchases in Japan from a comparative perspective. In comparing the U.S. and the U.K., the paper concludes that both countries are aware of the significance of timely disclosure in relation to after-the-fact repurchase trading information. In Japan, under Article 156(1) of the Companies Act, firms are obliged to disclose repurchase information (repurchase plan) in advance. However, after-the-fact repurchase information (individual trading) depends on the way in which companies practice it. For market participants, it is not appropriate for disclosure requirements to vary with the repurchase method. This paper thus argues that listed companies must provide timely disclosure of their buybacks.
Review of capital structure theories: The Financial Crisis impact on United Kingdom firms Volume 6 Issue 1
George Alexopoulos, Alexandros Garefalakis,
Christos Lemonakis and Kostantinos Spinthiropoulos
In this paper we examine the prevailing theories of capital structure (Trade-off theory, theory of representation costs, Pecking-order theory and Market timing), in all quoted companies on London Stock Exchange, before and after the crisis, and the foreign capitals used in order to establish which theory best explains the capital structure of companies in the United Kingdom. For the first time we examined a large sample of companies in the years between 2000 and 2012. This paper’s differentiation lies in that it turned out that in all British listed companies the investment has no impact on their borrowing levels, thus lending mainly serves their current liabilities and also positively assists the growth of the companies, and observes how the significance of the variable Markets to Book Ratio affect our basic theories after crisis. Our findings are more consistent with the Trade-off theory.
Climate Change and Indian Agriculture: An Assessment of Principal Food Crops
Volume 6 Issue 2
Prof. Dr. Surender Singh
The present paper assesses the future impact of climate change on two principal food crops in India using cross section data for the year 2012-2013. The study forecast that the production of rice crop is expected to decline by 10.50 percent, 4 per cent and 12.35 per cent and for wheat crop by 12.96 percent 8.3 per cent and 17.45 per cent respectively for the year 2020, 2060 and 2100. The findings reflect that increase in 10C temperature (without increase in rainfall) is more adverse than increase in 20C temperature when accompanied by a 10 mm increase in rainfall in the production of food crops. The study recommends the provision of assured irrigational facilities on the one hand and the development of short duration, climatic responsive and cost-effective varieties of food crops on the other hand to cope with the adverse future impact of climate change in the agrarian sector. Further, the study advocates a national strategy for crop diversification, based on some type of climate variable index, and those engaged in agriculture need to be given incentive for adoption of such diversification. Therefore, the policies should focus on supplementing the agrarian sector’s income by generating adequate sustainable employment opportunities in the event of decline in agricultural production in future.
Comment: Brexit: Implications for the City of London Edward Price
What are the immediate, and salient, regulatory and legal implications of Brexit for the UK financial sector? Before exploring the key issues, it’s important to clarify the term ‘Brexit’.
Comment: Intellectual Property and Arbitration
Ruth Taplin and Chris Wilford
Why Intellectual Property (IP) and Arbitration?
Intellectual Property Rights (IPR) and Alternative Dispute Resolution (ADR) or Arbitration are not necessarily two practices that are thought of in tandem. However, as the complexities of IPR, litigation, spiralling costs, acrimony and lack of understanding of valuing IP rises the need for and practice of arbitration in IPR disputes is on the rise.
Alan Turing’s Orthogonal Trajectories Decoding the PROF
Volume 6 Issue3
K. Vela Velupillai
"The dominant passion in [Alan Turing’s] life was his ideas; it is those for which he should be remembered, and for them no apology is needed."
Dermot Turing, 2015, p. 306.
Book ReviewsVolume 5 Issue 2
Much Ado About Globalization: Three Books of Influence
Ken Friedman
Globalization should be the simplest of issues, for it involves no more than trade between nations, and trade must benefit all participants.
Economic theory is straightforward. Free trade must benefit all knowledgeable, economically rational, and autonomous agents, for otherwise they would not engage in it. Restraints on trade must produce Pareto sub-optimal distributions. Moreover, provided differences in comparative advantage plus economics of scale and specialization outweigh transaction and transportation