This article examines some aspects of the decisions made by the Constitutional Court in the matter of the legality control exercised by the prefect on the local government acts. The article analyzes the acts which form the subject of the legality control exercised by the prefect, and the...

The regionalization and the decentralization processes are absolutely necessary to increase the efficiency of Romanian public administration, both through a better capacity of absorption of the European funds and by reducing bureaucracy, better representation of local and regional interests in...

Difficulty or possibility; freedom or compulsion? How can we determine the operation of the discretionary power - is it an intellectual process in the legal system or just arbitrariness? The aim of this essay is to survey all dimensions of the discretionary power to get its real intended purpose...

This paper is intended to be as a blueprint for the state of regulation on insolvency proceedings in Romania regarding the entities’ activities and the overall impact on the economic environment. From the highlighted statistical analysis regarding the number of insolvencies registered in...

In accordance with the Law about administrative decentralization from R.M., the competencies of local government are all rights and duties of local authorities in the fields they are established. In order to achieve its competencies, local authorities use institutional, financial, human and...

Minimum capital requirement regulation forces banks to refund a substantial amount of their investments with equity. This creates a buffer against losses, but also increases the cost of funding. If higher refunding costs translate into higher loan interest rates, then borrowers are likely to...

We study the effect of state ownership on the market-to-book ratios of publicly traded European utilities from 1994 to 2005. We find that when the company is subject to independent regulation, state ownership seems positively associated with firm value. This relation tends to appear in countries...

We offer the first direct evidence of an implicit contract in a goods market. The evidence comes from the market for Coca-Cola. We demonstrate that the Coca-Cola Company left a written evidence of its implicit contract with its consumers—a very explicit form of an implicit contract. The...

This paper revisits the issue of law enforcement and the design of monetary sanctions when the public law enforcer's incentives depart from those of a benevolent authority, which is the most frequent assumption made in the literature on crime deterrence. We first consider the case an elected...