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Article

Social Impact Assessment and Mediation

Journal Corporate Mediation Journal, Issue 1 2020
Keywords Social impact, Business to Community mediation
Authors Eelco De Groot
AbstractAuthor's information

    A Social Impact Assessment is often a formal requirement to determine and prevent social risks at greenfield development of complex infrastructural projects. This article discusses the background and building blocks with the different tiers of Business to Community mediation; a neutral, facilitated, dialogue and information sharing, negotiation, joint fact-finding and formal mediation.


Eelco De Groot
Eelco de Groot is an advisor at Social License and senior lecturer Social Risk Management at the TU Delft.
Article

De draaideur: van impasse naar uitweg

Journal Res Publica, Issue 3 2018
Keywords revolving door, lobbying, integrity, public values, polder democracy, regulatory solutions
Authors Toon Kerkhoff and Arco Timmermans
AbstractAuthor's information

    The revolving door is an ambiguous concept evoking strong opinions, and often is seen to lead to a decline in trust and legitimacy of the policy-making system of the Netherlands. But the different moral objections against the revolving door between functions and jobs in public and private organizations are barely matched with systematic empirical evidence of negative effects on the policy-making system. In this article, a definition of the concept is presented in order to help focusing the discussion on moral objections and practical implications of the revolving door. Two fundamental contradictions emerge from the panoply of arguments and assertions about this phenomenon. With our definition as a basis, we consider the different forms of the revolving door and discuss conditions under which it may be contained without solutions that are disproportionate to the problem. The way out is to develop clearer norms and integrity-enhancing mechanisms with which negative effects may be avoided and positive effects strengthened.


Toon Kerkhoff
Toon Kerkhoff is universitair docent bij het Instituut Bestuurskunde aan de Universiteit Leiden. Hij geeft leiding aan het Centre for Public Values & Ethics aan de Faculteit Governance & Global Affairs van de Universiteit Leiden, waar wetenschappelijk onderzoek wordt gedaan naar normatieve vraagstukken in de publieke sector en kennis daarover breder toegankelijk wordt gemaakt. Het onderzoek van Kerkhoff richt zich in het bijzonder op good governance en bestuurlijke ethiek, waarover hij ook onderwijs geeft in bachelor- en masteropleidingen.

Arco Timmermans
Arco Timmermans is bijzonder hoogleraar public affairs aan de Haagse Faculteit Governance & Global Affairs van de Universiteit Leiden. Zijn onderzoek en onderwijs gaan over de dynamiek van de maatschappelijke en politieke agenda, issuemanagement, lobbycoalities en de professionalisering van public affairs als terrein van wetenschap en praktijk. Hij is mede-oprichter en leider van de Nederlandse deelname in het internationale Comparative Agendas Project. Naast onderzoek en onderwijs in reguliere academische programma’s zoals de masterspecialisatie public affairs aan de Universiteit Leiden is hij ook intensief betrokken bij cursussen voor werkende professionals op het terrein van public affairs.

    In 2017, more than $3.9 billion of private capital was invested in commercial space companies. This represents, in a single year, more than half of the total amount of private investment during the preceding five years. The private space sector has also witnessed a dramatic increase in the number of investor participants. The industry continues to expand, and analysts predict that it will grow to a multi-trillion dollar industry in the next two decades. The industry is also witnessing rapidly falling launch prices – and as launch prices drop, the barrier to enter space also decreases. In addition to facilitating the expansion of existing space-based businesses, such as telecommunications and Earth observation, greater access to outer space opens the door for new entrants into fields such as space manufacturing, mining and tourism.
    Almost half of all investment in space companies since the year 2000, the vast majority of which was made within the last six years, has been from venture capital (“VC”) firms. VC investors seek eventually to monetize their investment by exiting through a sale of the company to a third party (usually an existing space industry player, but sometimes to another financial buyer) or through an initial public offering. Acquisitions by industry competitors are particularly common in the satellite sector, where established incumbents often look for outside innovation (for example, Terra Bella’s acquisition by Planet or DigitalGlobe’s acquisition by MDA). Furthermore, space activities are very costly, but benefit from economies of scale – evidenced by joint ventures between Lockheed and Boeing (United Launch Alliance) and between Airbus and Safran.
    In light of the increasing frequency of mergers and acquisitions (“M&A”) deal making in the space industry, this paper will examine publicly disclosed acquisition agreements governing certain prior deals in the industry in order to draw conclusions about the unique risks faced by commercial space acquirers and how they have sought to mitigate such risks. From diligence considerations to key terms of the acquisition agreements (such as the representations and warranties), this paper will provide practical insight into the most important considerations for private deals in this growing and rapidly changing industry.


Brendan Cohen
Cleary Gottlieb Steen & Hamilton LLP, United States, bcohen@cgsh.com.
Article

Access_open The Norm of Integrity in Corporate Governance Codes: Could It Be Made Enforceable?

Journal The Dovenschmidt Quarterly, Issue 2 2015
Keywords corporate governance, integrity, legal strategies, Goldman Sachs
Authors B.T.M. Steins Bisschop
AbstractAuthor's information

    The faring of Goldman Sachs during the financial crisis of 2008 is discussed against the background of legal instruments that were employed to avoid its failure. This discussion leads to the conclusion that in this case, the limits of classical legal instruments were reached. To further good corporate governance, the legal relevance of the term ‘integrity’ is explored. It is concluded that the legal term of integrity is used universally in corporate governance codes, but is not operational and therefore not enforceable. An attempt is made to redefine this general principle into a more operational term. This is tested in the case of Goldman Sachs’ executive Jon Winkelried. It is assumed that he has violated the standard of integrity but also that there were no enforceable legal means to sanction his behaviour. The conclusion is that the more operational interpretation of the term integrity could, in this case, have resulted in an enforceable legal instrument to sanction behaviour that is contrary to the norm of integrity. This operational term of integrity could aid in the debate on furthering good corporate governance through enforceable legal strategies.


B.T.M. Steins Bisschop
Prof. Dr. Bas T.M. Steins Bisschop holds a chair Corporate Law and Governance at the Faculty of Law of Maastricht University and a chair Corporate Law at Nyenrode Business University. He is partner of a boutique law firm in The Hague, The Netherlands.
Article

Access_open Public and Private Regulation

Mapping the Labyrinth

Journal The Dovenschmidt Quarterly, Issue 1 2012
Keywords private regulation, regulatory impact assessment, standard-setting, voluntary certification, sustainabbility reporting, effectiveness indicators, governance indicators
Authors Fabrizio Cafaggi and Andrea Renda
AbstractAuthor's information

    Private governance is currently being evoked as a viable solution to many public policy goals. However, in some circumstances it has shown to produce more harm than good, and even disastrous consequences like in the case of the financial crisis that is raging in most advanced economies. Although the current track record of private regulatory schemes is mixed, policy guidance documents around the world still require that policymakers award priority to self- and co-regulation, with little or no additional guidance being given to policymakers to devise when, and under what circumstances, these solutions can prove viable from a public policy perspective. With an array of examples from several policy fields, this paper approaches regulation as a public-private collaborative form and attempts to identify possible policy tools to be applied by public policymakers to efficiently and effectively approach private governance as a solution, rather than a problem. We propose a six-step theoretical framework and argue that IA techniques should: (i) define an integrated framework including both the possibility that private regulation can be used as an alternative or as a complement to public legislation; (ii) Involve private parties in public IAs in order to define the best strategy or strategies that would ensure achievement of the regulatory objectives; and (iii) Contemplate the deployment of indicators related to governance and activities of the regulators and their ability to coordinate and solve disputes with other regulators.


Fabrizio Cafaggi
European University Institute, Fiesole Università di Trento (F. Cafaggi).

Andrea Renda
LUISS Guido Carli, Rome; Centre for European Policy Studies, Brussels; European University Institute, Fiesole (A. Renda).

David B. Wilkins
Kirkland & Ellis Professor of Law and Director, Program on the Legal Profession, Harvard Law School. Special thanks to Jens Drolshammer for encouraging me to address this topic.
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