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Topic Review
Hypothecation
Hypothecation is the practice where a debtor pledges collateral to secure a debt or as a condition precedent to the debt, or a third party pledges collateral for the debtor. A letter of hypothecation is the usual instrument for carrying out the pledge. A common example occurs when a debtor enters into a mortgage agreement, in which the debtor's house becomes collateral until the mortgage loan is paid off. The debtor retains ownership of the collateral, but the creditor has the right to seize ownership if the debtor defaults. The main purpose of hypothecation is to mitigate the creditor's credit risk. If the debtor cannot pay, the creditor possesses the collateral and therefore can claim its ownership, sell it and thus compensate the lacking cash inflows. In a default of the obligor without previous hypothecation, the creditor cannot be sure that it can seize sufficient assets of the debtor. Because hypothecation makes it easier to get the debt and potentially decreases its price; the debtor wants to hypothecate as much debt as possible – but the isolation of 'good assets' for the collateral reduces the quality of the rest of the debtor's balance sheet and thus its credit worthiness. The detailed practice and rules regulating hypothecation vary depending on context and on the jurisdiction where it takes place. In the US, the legal right for the creditor to take ownership of the collateral if the debtor defaults is classified as a lien. Rehypothecation occurs mainly in the financial markets, where financial firms re-use the collateral to secure their own borrowing. For the creditor the collateral not only mitigates the credit risk but also allows refinancing more easily or at lower rates; in an initial hypothecation contract however, the debtor can restrict such re-use of the collateral.
  • 410
  • 17 Oct 2022
Topic Review
Overseas Market Entry Mode and Equity Entry Mode
As a very common form of enterprise organization in the social economy, family enterprises are numerous and play an increasingly important role in the global economy. In China, family enterprises are an important part and backbone of private enterprises and play an indispensable role in the vigorous development of China’s national economy. 
  • 410
  • 13 Jul 2023
Topic Review
Prenuptial Agreement
A prenuptial agreement, antenuptial agreement, or premarital agreement (commonly referred to as a prenup), is a written contract entered into by a couple prior to marriage or a civil union that enables them to select and control many of the legal rights they acquire upon marrying, and what happens when their marriage eventually ends by death or divorce. Couples enter into a written prenuptial agreement to supersede many of the default marital laws that would otherwise apply in the event of divorce, such as the laws that govern the division of property and retirement benefits and savings, and the right to seek alimony (spousal support) with agreed-upon terms that provide certainty and clarify their marital rights. A premarital agreement may also contain waivers of a surviving spouse’s right to claim an elective share of the estate of the deceased spouse. In some countries, including the United States , Belgium and the Netherlands, the prenuptial agreement not only provides for what happens in the event of a divorce, but also to protect some property during the marriage, for instance in case of a bankruptcy. Many countries, including Canada , France , Italy, and Germany , have matrimonial regimes, in addition to, or some cases, in lieu of prenuptial agreements. Postnuptial agreements are similar to prenuptial agreements, except that they are entered into after a couple is married. When divorce is imminent, postnuptial agreements are referred to as separation agreements.
  • 409
  • 25 Oct 2022
Topic Review
LICRA V. Yahoo!
Ligue contre le racisme et l'antisémitisme et Union des étudiants juifs de France c. Yahoo! Inc. et Société Yahoo! France (LICRA c. Yahoo!) is a France court case decided by the Tribunal de grande instance of Paris in 2000. The case concerned the sale of memorabilia from the Nazi period by Internet auction and the application of national laws to the Internet. Some observers have claimed that the judgement creates a universal competence for French courts to decide Internet cases. A related case before the United States courts concerning the enforcement of the French judgement reached the 9th US Circuit Court of Appeals, where a majority of the judges ruled to dismiss Yahoo!'s appeal. Criminal proceedings were also brought in the French courts against Yahoo!, Inc. and its then president Timothy Koogle; the defendants were acquitted on all charges, a verdict that was upheld on appeal.
  • 408
  • 18 Oct 2022
Topic Review
Multidimensional View of Intellectual Capital
Examining the past state of the art in the intellectual capital sector for achieving high levels of innovation performance provided a multidimensional picture of intellectual capital, innovation performance, and dynamic capabilities. 
  • 408
  • 13 Mar 2023
Topic Review
Exhibition Experiential Value of CCPs
The protection of industrial cultural heritage is related to sustainable urban development. Cultural and creative parks (CCPs) are a way for many cities to protect their industrial cultural heritage.The four antecedents (attractiveness, existential authenticity, self-congruence, and exhibition–park image congruence) have a positive impact on exhibition experiential value. Exhibition experiential value has a positive impact on CCP experiential value, which in turn, affects behavioral intentions toward the CCP. In addition, Exhibition experiential value has a mediating effect between the four antecedents and CCP experiential value, CCP experiential value has a mediating effect between exhibition experiential value and behavioral intentions.
  • 407
  • 05 Jul 2021
Topic Review
Economics of Land Degradation Initiative
The Economics of Land Degradation (ELD) Initiative is a global initiative which aims to increase awareness of the benefits of sustainable land management and economic consequences of land degradation. The ELD Initiative was co-founded in 2011 by the Secretariat of the United Nations Convention to Combat Desertification (UNCCD), the German Federal Ministry for Economic Cooperation and Development (BMZ), the European Commission (EC) and is hosted by the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH. The ELD Secretariat is based in Bonn, Germany. The ELD Initiative is focused on developing globally relevant data and methodology on the economic benefits of land and land based ecosystems for decision-makers. This way, the Initiative highlights the benefits of adopting sustainable land management practices and seeks to establish a global approach to conducting economic analyses of land management. Moreover, the ELD Initiative provides a platform for discussion between stakeholders from the policy, science and private sectors, as well as a Knowledge Hub providing a database of educational materials, related knowledge and access to a broad range of scientific and policy publications.
  • 407
  • 21 Nov 2022
Topic Review
User Payment Patterns for Subscription Video-on-Demand Services
Subscription video-on-demand platforms such as Netflix and HBO Max are being increasingly challenged by the widespread practice of sharing accounts with individuals outside the household. Platforms face a massive loss of revenue due to the opportunistic behavior of many users who enjoy content without paying anything or paying only a part of the required subscription fees.
  • 407
  • 12 May 2023
Topic Review
Step-by-Step Model for Implementing Open Innovation
Open innovation has attracted wide interest since it first appeared in the 2003 book by Chesbrough. It proposed that companies combining internal and external ideas when innovating would benefit more than by adhering to the traditional research and development model. As many definitions have been proposed for this term since then, it appears that open innovation is not something stationary and is constantly evolving. At this time, the most prevalent definition seems to be that open innovation is the use of purposive inflows and outflows of knowledge to accelerate internal innovation, and expand the markets for external use of innovation, respectively. This means that firms wanting to advance their technology can and should use both internal and external ideas. Even though there are several definitions for open innovation, their common thread is the creation of relations and collaborations in order to create something new with the resources at hand. The differences in the definitions usually refer to different scopes concerning resources, the degree of openness, etc.
  • 407
  • 06 Jun 2022
Topic Review
Autoethnography on Researcher Profile Cultivation
Information Communication Technology (ICT) and social networks have significant impact on everyday life. One the one hand, Internet users enjoy promoting themselves and feel free to disseminate information about themselves through websites and social networks, but on the other hand, people feel forced to reveal information about them on the Internet. Web technologies enable self-promotion for many reasons, i.e., social relations development, acquiring a new job, or research career support. Generally, autoethnography concerns a person, particularly an individual researcher, who observes themselves and monitors their capabilities. Researchers are located in a social community context, develop their personal identity, realize organizational processes, and communicate with other colleagues. 
  • 406
  • 19 Apr 2022
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