Dundee Discussion Papers in Economics 111:Do debtor-favored contracts necessarily benefit the debtor?

We consider a case of security design, where the optimal contract depends on the nature of the future renegotiations game. It is shown that giving the bargaining power to the debtor in the renegotiations game may not always work in his interest

Corporate Governance, Evolution of Corporate Laws and Asian Economic Development into the 21st Century

The purpose of this paper is to build on the Wellon - Piston analysis and to make two specific proposals for the further evolution of corporate law in Asian countries. The first of these proposals is designed to deal with important aspects of the current economic and financial crisis in South East and East Asia. It addresses the problem of corporate restructuring in these countries in the wake of the economic crisis and considers specifically the case of South Korea. The second proposal is concerned with the more general issue of corporate governance in semi-industrial countries and refers particularly to the Indian situation. The two proposals are not, however, entirely independent. The first proposal could potentially have significant implications for corporate governance while the second proposal is also likely to be helpful in the restructuring of the Asian economies as they begin to recover from the crisis

Conservation Pakage for Modal Ecorace

Conserving biodiversity is about genetic variety, species, habitats and ecosystems. All are important, but it is often most appropriate, practical and effective to focus on species. With modern conservation awareness, there is a welcome and popular commitment to maintaining the diversity of species in India. Nevertheless, over the last 50 years, we have witnessed the severe decline of many once widespread and familiar species, such as tropical Tasar silkworm Antherea mylitta D. Conservation is not just about avoiding extinctions, but about restoring or recovering species populations to secure levels and preventing other species from reaching such a perilous situation in the first place. Species, by their very nature, have specific ecological requirements. They may appear to share the same habitat with many others but each has a different, specific niche. It is what sets them apart, and makes them what they are. Habitat loss has historically been a factor in species decline. However, the way existing habitats are managed is also important