国际海事仲裁对我国建立多元化纠纷解决机制的启示

多元化纠纷解决机制包含诉讼内及诉讼外的多种纠纷解决方式,是我国目前在科学发展观指导下为构建和谐社会而积极倡导的多途径解决纠纷的机制,在我国的发展尚处于探索阶段.而日趋成熟的国际海事仲裁制度中独立的调解原则、仲裁员的选任制度以及快速低费程序等都对我国建立及完善多元化纠纷解决机制有一定的借鉴意义.     

美国资本市场融资工具—ADR

ADR即美国存托凭证，是由美国存托银行向美国的投资者发行的，代表非美国公司股票所有权的一种可流通证券。它的交易市场由发行、市场内部交易和注销等一系列过程构成。ADR在许多方面都明显优于普通股，使得美国投资者的境外投资和非美国公司在美国资本市场的融资简便易行。其种类包括三个不同级别的ADR以及私募ADR。     

Price leadership and asynchronous movements of multi-market listed stocks

We examine the asynchronous price movements of the same assets traded on multiple markets, each of which has its unique characteristics. Differently from the existing literature, we use a dynamic structural Vector Autoregressive (VAR) setting to explore the effects of market-wide and idiosyncratic shocks on both home and host listings. We find strong evidence that foreign prices lead home prices, but not the reverse effect. Contrary to theory predictions, investors in the firms’ home market respond to idiosyncratic fluctuations in the stock returns in the host markets. Our results suggest that investors pay attention to fluctuations in the stocks listed on the more institutionally developed markets.     

劳动争议处理机制的反思与重构

劳动争议日益频繁，劳动争议处理机制却日显落后，笔从批判入手，得出劳动争议机制设置的新价格值取向，即平衡论和诉讼经济论两种。由此构建出适应新时代的新的劳动争议处理机制，即或调整或审的ＡＤＲ方式。