bluuebunny/crossref_metadata_2025_split huggingface dataset:
European Capital Markets Code
Authors: Kämmerer Jörn Axel 
Published: March 2024

Abstract
The enactment of a Capital Markets Act by the EU in its capacity as a supranational organization is subject to the principle of conferral: the Union may legislate only insofar as is empowered by the Treaty and is confined to the categories of legislative acts which the competence provisions applicable in the instance permit. While an ECMA would make sense only if adopted as a regulation, some of the relevant competence rules are limited to directives. This article expounds that for some, albeit not all, legal matters worthy to be included in a codification, a reassessment of their respective legal bases is possible and that hence, only few of them would be legally unsuited for incorporation in the ECMA (among them, takeovers, qualification requirements, criminal sanctions and, to some extent, civil liability). Even so, proportionality, which is the yardstick not only for the choice of legal instrument (regulation or directive) but also for the permitted level of harmonization (full or minimum), may pose a challenge to the endeavour to establish a level-playing field for all of capital markets regulation.
The Legislative Style of Codification
Authors: Tountopoulos Vassilios 
Published: March 2024

AbstractCompliance is a necessary tool for the smooth functioning of financial intermediaries. The importance of compliance is also recognized in other areas of law. Many corporate governance codes consider the existence of a compliance system as a sound corporate governance practice for listed companies. This chapter focuses on special features and characteristics of compliance norms. The question is whether the compliance norms should be included in a European Capital Markets Code and if so, how the characteristics of compliance norms affect the codification process and effort. There is no clear-cut agreement on the codification style (principles-based or details-based approach). It is argued that the above question should be dealt with based on a variety of criteria, among which: (a) added value, (b) stability, (c) complexity and accessibility of the law, (d) regulatory arbitrage, (e) the role of Level 2 and Level 3 legislation, and (f) the character of the compliance provisions.
Regulatory Objectives and Strategies
Authors: Habersack Mathias 
Published: March 2024

Abstract
The protection of investors—together with safeguarding the functioning of the capital market—is the main concern of European capital market law. However, the current Level 1 acts are not based on a uniform concept of the investor; rather, a distinction is made between the reasonable investor and the retail investor. This raises a number of questions for a future European Capital Markets Code (ECMC): Should the distinction between the reasonable investor and the retail investor also be maintained within the framework of an ECMC? How and where should the respective investor model be regulated? Is only fundamental value-related information relevant for the reasonable investor or also other information, such as ESG-related information without fundamental value relevance?
Managing the Conflicts Between Regulatory Goals
Authors: Payne Jennifer 
Published: March 2024

Abstract
Policymakers make use of a range of regulatory goals, some of which are articulated, and some of which are not. Conflicts between regulatory goals can arise and therefore having mechanisms in place to resolve these conflicts is important. Regulatory goals may vary from jurisdiction to jurisdiction and may change over time as economic and political narratives develop. This chapter examines the regulatory goals that have developed in the EU context, considers the ways in which these goals can come into conflict and analyses the consequences of these conflicts. It argues that regulators need to have in place a process for identifying and resolving conflicts between regulatory goals. In terms of identifying conflicts, it is suggested that within the EU this can be done by utilizing and expanding the existing regime of impact assessments, evaluations and fitness checks which are designed to provide ex ante and ex post assessments of legislative instruments. In terms of resolving these conflicts it is suggested that a strict hierarchy of regulatory goals, while superficially attractive as a mechanism for resolving conflicts, has a number of disadvantages, and that instead a more holistic approach should be adopted by policymakers. This is an important issue. Difficulties can arise where conflicts are unresolved, but also where the conflict is resolved inappropriately by giving undue precedence to one goal over another, as this chapter discusses. Dealing with this issue effectively will improve the quality of the EU legislative process.
Proportionality in a European Capital Markets Code
Authors: Chiu Iris H-Y 
Published: March 2024

Abstract
This chapter discusses what principles should govern the proportionality of a Capital Markets Code, ie the scope of inclusion of legal issues as well as the extent of their legalization. We argue that the instrumental principle, drawn from the CMU’s intended policy outcomes, should form the underpinning principle for proportionality. In this manner, the Code would cater for issues crucial to incentivizing issuers to participate in the supply side and investors to deepen the demand side of European capital markets. The chapter also supports the Capital Markets Code to adopt an approach where various levels of legalization or hardening of legal principles can be provided, while recognizing a variety of sources of securities market governance.
Market Abuse
Authors: Kinander Morten 
Published: March 2024

AbstractMarket abuse is a cornerstone of the general regulation of EU and EEA securities markets. The EU market abuse regime now showcases an impressive and thorough regime, including a fine-grained and comprehensive system of duties for market participants, definitions of the markets to which it applies, and many specific rules. In this chapter, we examine the core content of the essential elements of the market abuse regime according to EU law, with special emphasis on inside information, insider dealing, and market manipulation in the context of a European Capital Markets Code. The chapter will also suggest ways in which some central provisions, such as the definition of inside information and the concept of the reasonable investor, can be clarified and improved.
The Limits of Including Financial Disclosure Rules in a European Capital Markets Code
Authors: Strampelli Giovanni 
Published: March 2024

Abstract
This chapter discusses why financial reporting requirements are not ideal candidates for inclusion in an ECMC, even though they are a key pillar of the disclosure regime for EU issuers. Firstly, it is not possible for the ECMC to regulate the content of periodic financial information, as the Commission has no effective control over the content of consolidated and separate financial statements prepared in accordance with IFRS. Secondly, an ECMC cannot significantly change the existing regulatory framework by promoting further harmonization of financial reporting by European issuers. In addition, an ECMC is not an appropriate instrument for pursuing further harmonization of financial reporting by European issuers because separate financial statements are considered part of company law, since they serve as a basis for the application of statutory capital requirements. Therefore, the ECMC should only include the general ‘high level’ provisions on periodic reporting requirements currently contained in the Transparency Directive and the IAS Regulation. Furthermore, general definitions provided by an ECMC, such as for reasonable investor and materiality, are generally not relevant for corporate reporting purposes.
Conclusion
Authors: Veil Rüdiger 
Published: March 2024

Abstract
The European Union is pursuing the goal of a Capital Markets Union (CMU). This chapter looks at the policies and strategies of the CMU pro-ject and suggests that a codification of European capital markets law would represent a major step towards a CMU. To this end, it refers to the key findings of the other chapters of the book on the idea of codification and the legislative competence of the EU to implement a European Capi-tal Markets Code (ECMC). Furthermore, it presents the key findings on the content of the ECMC, the regulatory goals, and the legislative style that the codification act should adopt in order to reduce complexity and enhance accessibility of the law. The codification of European capital markets law is also an opportunity to consider more courageous reforms than the various reforms under the CMU Action Plan 2015 and 2020.
Linkages with large firms and growth of SMEs in Tanzania
Authors: Kweka Josaphat , Sooi Fadhili 
Published: March 2024

Abstract
A recent strand of literature on small and medium-sized enterprise (SME) development identifies linkage with large firms as one of the enablers of development and competitiveness. However, there is a dearth of empirical studies on the topic. In this study, the authors assess the extent and determinants of linkages between SMEs and large firms in Tanzania industrial sector and to what degree the linkage is an important driver of SME performance. They find that, while linkages with large firms are potentially beneficial for the increased performance of SMEs, the level of such linkages is low in Tanzania and is likely to be influenced by the firm’s production capacity, training, exporting, foreign ownership, industry association, and technology partnerships. This implies that the government’s efforts to promote SMEs should include policies or programmes that nurture partnerships with large firms.
Upgrading and multi-scalar industrial policy in the Tanzanian textile and apparel sector value chain
Authors: Boys Julian , Andreoni Antonio 
Published: March 2024

Abstract
Policy makers are increasingly turning from global value chains to regional and national value chains as drivers of structural transformation in the global South. This chapter examines economic and social upgrading in the Tanzanian textile and apparel sectors, with a particular focus on how outcomes vary across value chains—that is, with value chain directionality. The authors also analyse industrial and trade policies at the national, regional, and global levels to see the extent to which they allocate rents that enable firms to capitalize strategically on the benefits offered by different value chain types. They find that national, regional, and global value chains each offer distinct opportunities in terms of functional, product, process, and end-market upgrading as well as other economic and social outcomes and that while policy rents have been critical to the outcomes observed, there is scope to improve multi-scalar industrial policy design to achieve rapid structural transformation.
Trade, technology, and local linkages in the Tanzanian textiles and garments sector
Authors: Saha Amrita , Castro André , Carreras Marco , Guariso Daniele 
Published: March 2024

Abstract
Trade-linked technological change has potential to increase incomes in low-income countries (LICs). The most labour-intensive segments of the textiles and apparel global value chain are in LICs. However, gaps between available technologies and best practices make it difficult to adopt more efficient production processes or move into higher value-added functions. This chapter examines current technology use in the Tanzanian textiles and apparel sector, using nationally representative secondary data, primary quantitative data, and qualitative information from semi-structured interviews. First, the chapter examines whether firms’ absorptive capacity mediates the effect of imported technology on firm productivity, and then looks at differences across geographical clusters of firms in terms of local linkage types. The chapter assesses current technology, gaps in firms’ capabilities, and challenges in the sector to identify policy implications. Finally, the authors provide brief reflections on how firms in the Tanzanian textiles and apparel sector may adapt in the post-COVID-19 recovery phase.
Recalled to Life
Authors: Bodenheimer Rosemarie , Davis Philip 
Published: March 2024

Abstract
The chapter takes off from Mr Dombey’s last-minute redemption to consider later Dickens characters who raise questions of life, death, and personal transformation in the face of extreme life/death thresholds. Sydney Carton and Eugene Wrayburn are studies of alienated men who assume a mask of indifference until a life-or-death situation brings forgotten resources of love and commitment to the surface. In a paradigm instance, Rogue Riderhood’s near-drowning in Our Mutual Friend, Dickens imagines an impersonal, disembodied ‘spark of life’, revered in itself, but obscured when villainous Riderhood is restored to life unchanged. The chapter concentrates most fully on the strange figure of Sydney Carton in A Tale of Two Cities, where the French Revolution provides the extremity in which Carton can find and recognize his own commitment to life by dying in the place of another.
‘The Wrong Side of the Pattern’—Little Dorrit, Book 1
Authors: Bodenheimer Rosemarie , Davis Philip 
Published: March 2024

Abstract
Little Dorrit, with its stifled atmosphere of bad times in an international setting, comes out of Dickens’s despair about the state of the world and his life in the mid-1850s. It expresses the fear that the Real has disappeared behind manufactured unrealities: falsities of manner and speech that exist ‘on the wrong side of the pattern of the universe’. The pervasive social disease leaves little room for positive action or simply generous feeling. Even the good, Arthur Clennam and Amy Dorrit, have to suppress or bend the truth in order to be kind. Their quietist silences in depressive retreat are all that oppose the general corruption, while politeness is itself suspect as a possible weapon of harm. In this chapter the authors find themselves divided in their emotional reactions to the bitterness and disappointment that fuel Book 1.
Little Dorrit between Books
Authors: Bodenheimer Rosemarie , Davis Philip 
Published: March 2024

Abstract
This interchapter considers the authors’ split reactions to Book 1 as a way into the double-mindedness of the novel. Reading the same scene from different ethical positions is like looking at an optical illusion which can’t be seen in both ways at the same time. Like many of his contemporaries, Dickens was fascinated by double consciousness, when one part of the mind is cut off from knowing the other; he was hard put to see the good and the bad sides of himself together. Yet these oppositional fields in his work are porous, allowing for partial crossings over, as Nancy in Oliver Twist mentally straddles the boundary between good and bad worlds. This dynamic of fluctuating opposites leads towards the apparently radical switch from Book 1, ‘Poverty’, to Book 2, ‘Riches’.
Through the Looking Glass—Little Dorrit, Book 2
Authors: Bodenheimer Rosemarie , Davis Philip 
Published: March 2024

Abstract
The Alpine descriptions that open ‘Riches’ mix physical grandeur with illusory vision, setting the stage for human illusions and disillusions to follow. Amy Dorrit finds the external world of Italy less real than her memories of the Marshalsea. Conscious of living in two temporalities at once, she becomes—as in her letters to Clennam—a moving narrator in her own right. The conspiracy of silence and denial that pervades Book 1 finally breaks down, in Frederick Dorrit’s angry defence of Amy, in the crumbling of Mr Dorrit’s pretensions from within, in Fanny Dorrit’s deliberate choice of a life of social gameplaying, and in the collapse of Merdle’s Ponzi scheme. Without tidying up some of the loose ends he’s left behind in writing his narrative, Dickens returns us in this second book to a more generous vision of sad compassion.
China’s Engagement with Greece under the BRI
Authors: Stroikos Dimitrios 
Published: March 2024

Abstract
Building on the conceptual framework of this volume, this chapter focuses on Sino-Greek relations by examining the extent to which China’s influence has given rise to the formation of new preferences or the consolidation of existing preferences within Greece. In doing so, this chapter highlights the role of domestic actors and domestic political considerations. It also suggests that we need to take into account the wider systemic context and its impact on the ways in which Athens attempts to manage Beijing’s influence, which involves moving beyond an analysis that centres merely on the dyadic relationship. Striking as the strengthening of Sino-Greek relations has been, this chapter argues that there are significant constraints on the nature of this bilateral relationship, as well as on the options available to Chinese and Greek policymakers that are becoming clearer as a result of international imperatives.
Between Normative Influence and Securitization Dynamic
Authors: Jakimów Małgorzata 
Published: March 2024

Abstract
The Visegrád Group of Czechia, Hungary, Poland, and Slovakia constitute the core countries within the 16(17)+1 platform created by China to facilitate its Belt and Road investments in Europe. Since 2013, these countries’ governments have slowly diverted towards China-friendly, and even China-admiring, ideological rhetoric, which has often parted with the liberal post-communist choices of defending human rights, and positioned China as a new norm-setting alternative to the Brussel’s consensus. However, after 2019 the disappointment over the unfulfilled investment expectation and the controversies around China’s 5G networks started to give way to a growing resecuritization of China by some of the V4 states. Based on the analysis of the political elites’ speeches and the accompanying policy actions, this chapter provides an assessment of the ways in which China has exerted normative influence on the local political elites of the V4 states and how this ability has been affected by the shifting securitization dynamic around Chinese investments.
The Political Dimensions of Chinese Outward FDI and Their Implications for the Liberal International Order
Authors: Knoerich Jan 
Published: March 2024

Abstract
This chapter examines how Chinese outward foreign direct investment (FDI) could have a political impact in recipient countries. It focuses on five distinct aspects: the degree of structural power of Chinese multinational enterprises, the direct influence and leverage China could have over individual countries receiving Chinese FDI, the enhancements in Chinese (technological) competition resulting from investment activities, the misuse of FDI for national security purposes, and the use of FDI to enhance China’s international soft power. For each of these aspects, the chapter identifies potential avenues of political impact in recipient countries, yet it also finds that there are considerable limitations in the extent to which Chinese multinationals effectively influence politics. Some Chinese FDI can even generate desirable political outcomes for recipient countries. The chapter concludes that outward FDI cannot be considered as a particularly suitable economic activity to support a challenge to the Liberal International Order.
Catalyst for Stasis?
Authors: Jones Catherine 
Published: March 2024

Abstract
The creation of a range of development and investment frameworks emanating from China forms a central plank in arguments so that we can now see the shape of a ‘Chinese-led’ World Order. The launch of the Asian Investment Infrastructure Bank (AIIB), the New Development Bank (NDB), and the Belt and Road Initiative (BRI) have been seized on by scholars as evidence of new institutions in this emerging order which has the potential to act as a rival or challenger to the North American and European normative frameworks and regimes. However, this chapter argues that China acts as a catalyst for the maintenance of a status quo. As such, China’s largest contribution (to change) is in triggering other donors (mostly from the OECD-DAC) to make sure their aid and assistance is more targeted and effective by implementing changes identified as necessary for the previous two decades.
Introduction
Authors: Ichikawa Jonathan 
Published: March 2024

Abstract
The Introduction lays out the central idea of Epistemic Courage, introduces some of the most central topics, and gives an outline of the book. The central idea of the book is that discussions about what to believe tend to have a negative bias: a bias against belief, and in favour of suspension of judgment. It’s widely recognized that it’s important not to have bad beliefs—beliefs that are not well-supported by evidence, for example. But we also must attend to the importance of having good beliefs and avoiding bad suspension of judgment. Overlooking this latter normative consideration has had unfortunate theoretical, epistemological, moral, and political implications, which the book will explore in detail. The negative bias in epistemology is deeply connected, the author argues, to a conservative ideology. After introducing this main idea, the Introduction explains some of the basics of epistemology and critical theory, as the book does not assume familiarity with either tradition. It closes with a brief description of the chapters to follow.
Epistemic Courage
Authors: Ichikawa Jonathan 
Published: March 2024

Abstract
Epistemic courage is the tendency to form and maintain one’s beliefs to the right extent and in the right circumstances. This chapter models epistemic courage explicitly on moral virtues, especially moral courage: it represents the proper balance between epistemic cowardice (where one tends to suspend judgment when one ought to believe, and to let one’s beliefs crumble too quickly to challenges) and epistemic recklessness (where one proceeds dogmatically, without due regard for contrary evidence). Epistemic courage centrally involves practical wisdom. The chapter offers suggestions as to how one might go about developing this important virtue.
Contextual Injustice
Authors: Ichikawa Jonathan 
Published: March 2024

Abstract
This chapter connects negative bias to linguistic matters, especially epistemic contextualism. Epistemic contextualism suggests that the word “knows” is used in different conversational contexts in ways that contribute differently to the truth conditions of a given sentence. Contextualist treatments of clashes of intuitions can allow that two claims, apparently in conflict, can both be true. But making true claims is far from the only thing that matters—there are often substantive normative questions about what contextual parameters are appropriate to a given conversational situation. This chapter foregrounds the importance of the social power to set contextual standards, and how it relates to injustice and oppression. The linguistic flexibility posited by contextualism allows the negative bias to play out in different subtle ways, and points to a broader phenomenon of “contextual injustice.” The connections between language, epistemology, and social justice are deeply interlinked.