• Title/Summary/Keyword: Disclosure law

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What is the Duty to Disclose a Material Circumstances by the Assured, M.I.A., 1906 (영국 해상보험법상 피보험자의 고지의무에 관하여)

  • 박용섭
    • Journal of the Korean Institute of Navigation
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    • v.7 no.1
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    • pp.83-103
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    • 1983
  • The duty of disclosure it is a preliminary requirement to effect marine insurance contract between the assured and the underwriter. The contract of Marine Insurance is called a uberrimae fidei contract, the assured, therefore, in the law of marine insurance, shall communicate a material circumstances to the latter before the policy to be effected. As growing the maritime industries in Korea, there is forming a larger marine insurance market, accordingly, and having a wide relation with the practice of the marine insurance in England. It means that the most of the legal theories of the marine insurance would be adopted by the English Marine Insurance Case Law and M.I.A., 1906. From the viewpoint of the said this author has tried out to study what is the duty of disclosure of the marine insurance based upon the English Marine Case Law.

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Assessment of the Quality of Non-Financial Information Disclosure: Empirical Evidence from Listed Companies in Vietnam

  • LE, Binh Thi Hai;NGUYEN, Nhat Quoc;NGUYEN, Cong Van
    • The Journal of Asian Finance, Economics and Business
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    • v.9 no.5
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    • pp.111-118
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    • 2022
  • The purpose of this research is to evaluate the quality of non-financial information disclosure by companies listed on the Vietnamese stock exchange. In 2019, 140 annual reports from 140 companies listed on the Vietnam Stock Exchange were included in the research sample. The remaining 134 reports were eligible study after removing those that lacked essential data. Using the statistical software SPSS version 25 and Excel office software, the study has selected the data processing method and the disproportionate disclosure index method to evaluate the quality of non-financial information disclosure of companies. The findings of the study demonstrate that companies listed on the Vietnam stock exchange are particularly interested in giving non-financial information to financial statement consumers as required by law, although the level of disclosure is still inadequate. The findings also illustrate the varying levels of non-financial information disclosure by category of information, as well as substantial disparities between them (general information about the company, environmental and social information, corporate governance information, etc.). The findings of the study show that the majority of Vietnam's publicly traded enterprises are less interested in reporting environmental information.

Analyzing Domestic Research Trends on Disclosure of Information By Comparing Major Academic Disciplines (주요 학문분야 비교를 통한 국내 정보공개 연구동향 분석)

  • Na-yun Bae;Hyo-Jung Oh
    • Journal of the Korean Society for information Management
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    • v.41 no.2
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    • pp.295-316
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    • 2024
  • Analyzing research trends is essential for the sustainable development of a discipline and is important for understanding the value of prior research and laying the groundwork for subsequent research. This study aims to draw implications for the future direction of convergence research on the disclosure of information from various disciplines by comparing and analyzing the trends in disclosure of information research in Korea. For this purpose, we analyzed the publication frequency of information disclosure papers listed in the Korea Citation Index (KCI) from 2002 to 2023 and the publication trend by discipline as a time series. In addition, we compared the keyword relationships and specialized research topics of each discipline by applying network analysis and LDA topic modeling techniques to the names and keywords of papers in law, public administration, and library and information science. As a result of the analysis, the law focuses on legal regulations and policy improvement, public administration focuses on changing social needs and administrative operation methods, and LIS focuses on practical approaches to record management and disclosure of information. Based on this, future research directions include combining policy research in law with social change research in public administration and developing realistic policies and operational guidelines from the practical perspective of LIS. Such convergent research will enable the systematic and efficient implementation of disclosure of information systems, contributing to the guarantee of the public's right to know and the enhancement of state transparency.

The Determinants of Environmental Information Disclosure in Vietnam Listed Companies

  • NGUYEN, Thi Le Hang;NGUYEN, Thi Thu Hien;NGUYEN, Thi Thanh Huyen;LE, Thi Hong Anh;NGUYEN, Van Cong
    • The Journal of Asian Finance, Economics and Business
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    • v.7 no.2
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    • pp.21-31
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    • 2020
  • Environmental pollution and climate change in Vietnam are now becoming a major concern. This situation is increasing the pressure on the companies to improve their social responsibility in production and business activities and disclose the environmental information to meet the requirements of stakeholders. This study investigates the internal and external factors of the company that affects the environmental information disclosure of listed companies on the Vietnam stock market as business sector, firm size, corporate manager perceptions, profitability, financial leverage, community pressure, pressures from stakeholders, government pressure influencing environmental information disclosure. Analytical data collected through the survey of 120 listed companies on the Ho Chi Minh City Stock Exchange (HOSE). By testing Cronbach's Alpha, exploratory factor analysis (EFA) and logistic regression analysis, the results of the study show that the level of environmental information disclosure of listed companies on the stock market in Vietnam depends heavily on government regulations, followed by the pressure from stakeholders, community pressure, views of business managers, companies size, business sector, and particularly profitability and financial leverage factors that have a negative relationship with environmental information disclosure.

Effect of Corporate Governance on Corporate Social Responsibility Disclosure: Empirical Evidence from Vietnamese Commercial Banks

  • TRAN, Quoc Thinh;LAM, To Trang;LUU, Chi Danh
    • The Journal of Asian Finance, Economics and Business
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    • v.7 no.11
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    • pp.327-333
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    • 2020
  • Corporate social responsibility is an inevitable trend in the global context. It is the responsibility of the organizations to the community and society to ensure the fairness of the interests of stakeholders. This is an issue that deserves attention, not in the national or regional level, but as a global issue. The purpose of article is to examine the effect of corporate governance on corporate social responsibility disclosure of 155 samples of 31 Vietnamese commercial banks from 2015 to 2019. The data of this study is employing time-series data and used the ordinary least squares to test the model. The results show that there are three factors that positively affect corporate social responsibility disclosure, namely, board size, foreign members of board, and audit committee. Thereby, the article proposes that board of director in Vietnamese commercial banks needs to raise awareness about corporate social responsibility, and the Central bank of Vietnam should monitor the disclosure of information regularly with severe sanctions on commercial banks that do not comply with the regulations of corporate social responsibility disclosure. This contributes to improving the information quality of the banking sector to meet the trend of international economic integration.

Legal examination of personal information disclosure system of administrative (행정상 인적사항공개제도에 대한 법률적 검토)

  • Ryu, Gi Hwan;Shin, Mi Ae
    • Convergence Security Journal
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    • v.16 no.6_2
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    • pp.89-97
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    • 2016
  • Disclosure of personal information to be carried out in one of the Administrative Publicity, Administrative agency as specific information about the person who has violated the obligation imposed by the law is an unspecified number people know is through the direct or Internet media it is to be disclosed in an unspecified number of people. This is, indirect sanctions so as to fulfill its obligations by the addition of psychological pressure that exposes the personal information of the fact that in breach of his obligations to the breach of duty and it has been an unspecified number of people know it is a means. However, publication of these personal information, infringement of the moral rights of the Constitution guarantees an individual, of course, not only a matter of law that the right to self-determination of the personal information, has continued also doubts for the effectiveness of the system. As a result, in this paper, to discuss legal issues with the disclosure of management personal information and its improvement measures, and expected to be able to take advantage of the efficient development of the future of personal information disclosure system.

The Duty of Utmost Good Faith in Marine Insurance (해상보험(海上保險)에 있어서의 최대선의준수의무(最大善意遵守義務))

  • Lee, Shie-Hwan
    • THE INTERNATIONAL COMMERCE & LAW REVIEW
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    • v.13
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    • pp.365-387
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    • 2000
  • One of the central and primary doctrine of the law of marine insurance is that the contract of indemnity entered into by assured and insurer is a contract of the utmost good faith. The notion of utmost good faith is a well established doctrine derived from the celebrated case of Carter v. Boehm(1766), decided long before the inception of the Marine Insurance Act(MIA). With the codification of the law, the principle found expression in sections $17{\sim}20$ of the MIA 1906. In section 17 is presented the general duty to observe the utmost good faith, with the following sections introducing particular aspects of the doctrine, namely, the duty of the assured and brokers to disclose material circumstances, and to avoid making misrepresentations. It is somewhat surprising that section 17, being a long founded doctrine, has not attracted the attention of the courts until very recently. Given that the most significant manifestations of uberrimae fidei are non-disclosure and misrepresentations, fulfillment of the obligation of utmost good faith was, not unreasonably, for a long time perceived in terms of the duty to disclose and not to misrepresent. However, Black King Shipping Corporation v. Massie, 'Litsion Pride'(1985) has clarified that the duty of disclosure stems from the duty of utmost good faith, and not vice versa. The duty of utmost good faith is an independent and overriding duty, with the ensuring sections on disclosure and representations providing mere illustrations of that duty. It is now clear that there are important questions with regard to the general doctrine and as to the nature and scope of any duty of good faith continuing after the contract of insurance is made which require separate and fuller discussion. The purpose of this paper is to review the nature and scope of the duty of utmost good faith.

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An Experimental Study on the Effects of Risk Cognition of Personal Information and Self-Expression Information on Conation of Privacy Protection (SNS의 개인정보와 자기표현정보의 중요도 인지가 정보보호 행동의지에 미치는 영향에 관한 실험연구)

  • Lim, Jung-Ho;Kwon, Sun-Dong
    • Journal of the Korea Institute of Information Security & Cryptology
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    • v.28 no.3
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    • pp.681-694
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    • 2018
  • This paper studied the effects of risk cognition of personal information and self-expression information on conation of privacy protection. In the first study, 88 college students who volunteered for this research were surveyed about risk cognition of personal information and conation to protect it. In the second study, after an information-seeking expert collected and organized the self-expression information that 88 volunteers had expressed on SNS, and then showed the organized self-expression information to 88 volunteers, and then 88 volunteers were surveyed about risk cognition of self-expression information and conation to protect it. As results of the first data analysis, the risk cognition of personal information had the greatest influence on non-disclosure of personal information, followed by reduction of the disclosure scope and law institutionalization requirement. As results of the second data analysis, SNS users openly expressed their opinion or life-style, but when they realized that self-expression information can be accumulated and become sensitive information, they had conation to protect their self-expression information such as non-disclosure, reduction of disclosure scope, and law institutionalization requirement. The implication of this study is that we have overcome the limitations of existing researches that can not explain information protection behavior on SNS.

The Duty of Disclosure under the doctrine of Utmost Good Faith in Marine Insurance Contract: In connection with the UK Insurance Act in 2015 (해상보험계약에서 최대선의원칙에 따른 고지의무에 관한 연구: 2015년 영국보험법과 관련하여)

  • Kim, Jae-Woo
    • Korea Trade Review
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    • v.44 no.3
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    • pp.137-154
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    • 2019
  • This study analyzes the major provisions of the UK Insurance Act 2015 and Marine Insurance Act 1906 on the duty of disclosure under the doctrine of utmost good faith. Marine insurance contracts are based on "utmost good faith" and one aspect of this is that MIA 1906 imposes a duty on prospective policy holders to disclose all material facts. In the Insurance Act 2015 of the United Kingdom, the contents of the precedent were enacted such that we have borrowed the legal principles of common law until now. The insurer is required to more actively communicate with the insurer rather than passively underwriting and asking questions of the insured. The Act details the insured's constructive knowledge of the material circumstance by reviewing the current case law and introduces a new system for the insurer's proportionate remedy against the insured's breach of the duty of fair presentation of risk. This is a default regime, which may be altered by agreement between the parties.

A Study on the Necessity of a Series of Charges in Information Disclosure for Work Improvement: Comparing the Cases of the United States (정보공개 전담 직렬의 필요성과 업무 개선방안에 관한 연구 - 미국의 사례를 중심으로 -)

  • Kang, Ju-Hyun;Lee, Young-Hak
    • Journal of Korean Society of Archives and Records Management
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    • v.17 no.2
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    • pp.1-26
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    • 2017
  • The objective of this research is to search for measures to properly respond to the greatly increasing demands of complex information disclosure. At present, South Korea makes the deployment of records managers at public institutions mandatory through the Records Act. Records disclosure goes beyond simply deciding on the revelation and private usage of records, and requires the professionalism of institutions such as task knowledge and law-related knowledge. However, most records managers lack professionalism in the task of records disclosure despite achieving such in their regular work of managing records. As a countermeasure for such issues, this research is proposing the introduction of a series of exclusive charges in records disclosure named the Government Information Specialist, which professionally manages the records disclosure of the US government. In addition, to understand the demand of such, surveys and interviews of records managers who undertake both records management and records disclosure tasks at a South Korean public institution was also conducted.