Bibliographie sélective OHADA

There is tension between the South African Revenue Service’s duty to collect taxes on the one hand, and its duty to respect taxpayers’ rights on the other. An environment where there is clearly respect for the rights of the taxpayer may indeed result in increased voluntary compliance. This thesis constitutes a comparative appraisal of whether the following enforcement powers of the South African Revenue Service (“SARS”) in the South African constitutional context, namely (i) SARS’ power to conduct searches and seizures in order to verify compliance and investigate the commission of offences; (ii) the “pay now, argue later” rule; and (iii) the appointment of a third party on behalf of a taxpayer are in accordance with the Constitution of the Republic of South Africa, 1996 (“Constitution”). It is argued that these powers do not necessarily conform to the Constitution’s values and the fundamental rights contained in the Bill of Rights in Chapter 2 of the Constitution. To address the apparent shortcomings in the current dispensation, the thesis compares these enforcement powers of SARS with similar powers afforded to the revenue authorities of Canada, Australia, New Zealand and Nigeria. Important conclusions are drawn from this comparative review and a number of recommendations for law reform are proposed which, if implemented, would align these enforcement powers with the provisions of the Constitution. The recommendations entail, inter alia, that the seizure component of a search and seizure process should be treated separately, that half of the payment obligation should be suspended until the dispute is heard by an impartial forum, and that an objective measure must be in place to ensure that a taxpayer is able to afford basic necessities when a third party appointment is made.

Sermaye Piyasası Kanunu'nun amacı, sermaye piyasasının işleyişinin güvenli bir biçimde sağlanmasına ve yatırımcıların hak ve menfaatlerinin korunmasıdır. Bu amaçla yatırımcıların(halka açık anonim ortaklık pay senedi sahiplerinin); yatırımlarını gerçekleştirirken kararlarını doğru bilgilere dayanarak vermelerini sağlamak, şirketin kontrolüne sahip olan şahısların kişisel menfaatlerinden bağımsız olarak sadece şirketin menfaatleri doğrultusunda hareket etmelerini temin etmek üzere SerPK kendi içinde düzenlemeler barındırmaktadır. Bunlardan biri de SerPK madde 21 hükmüdür ve SerPK'nın amaçları doğrultusunda bir özel hüküm niteliği taşımaktadır. Söz konusu hükmün ratio legis'inin, halka açık anonim ortaklığın; ilişkili kişiler ile yapılan işlerde emsallere, piyasa teamüllerine uygun, ticari hayatın basiret ve dürüstlük ilkelerine uygun işlemler gerçekleştirmesini sağlamak suretiyle, ortaklık pay sahiplerinin menfaatlerinin korunması olduğu anlaşılmaktadır. SerPK madde 21'de sayılan yapılan işlem sonucu; halka açık ortaklığın, kolektif yatırım kuruluşunun, bunların iştirak ve bağlı ortaklıklarının; kârlarını azaltmak, malvarlıklarını azaltmak, kârlarının artmasını engellemek, malvarlıklarının artmasını engellemek, kârlarını korumak veya artırmak için yapmaları beklenen faaliyetleri yapmamak, malvarlıklarını korumak veya artırmak için yapmaları beklenen faaliyetleri yapmamak suretiyle ilişkili oldukları kişilerin kârlarının ya da malvarlıklarının artmasını sağlamak şeklinde aktif veya pasif davranışlarla kazanç aktarımında bulunmaları yasaklanmıştır. Konunun vergi hukukunda, Kurumlar Vergisi Kanunu m. 13'te transfer fiyatlandırması yoluyla örtülü kazanç dağıtımı adıyla düzenlenmekte olduğu görülmektedir. Şüphesiz vergi hukukunda gözetilen amaçlarla sermaye piyasası hukukunun izlediği amaçlar arasındaki farklılık, maddi unsurları benzeyen bu iki düzenlemeyi birbirinden ayırmaktadır. Konunun vergi hukuku ve maliye boyutu bağlamında eserler mevcuttur. Buna mukabil bu tez ile SerPK düzenlemesinin ardından konunun özel hukuktaki yeri ve sonuçları ile spesifik olarak konunun Borçlar Hukuku, Ortaklıklar Hukuku ve Sermaye Piyasası Hukuku yönlerinden araştırılması hedeflenmektedir. [...] Related-party transactions include the routine forms of abusive insider behavior that have come to be dubbed tunneling in the economic literature a category that includes all forms of misappropriation of value by corporate insiders. Prohibited related party transactions are the ones which contain transfer prices that contradict the arm's length principle. SerPK article 21/4 say that parties which have received an income transfer are obliged to return the transferred amount with its legal interest within the period to be determined by the Board. Sweeping prohibitions of related-party transactions were once common in company law. Apart from bans on loans, prohibitions tend to focus on transactions between managers and third parties that are thought to divert the value of information that the law assigns, implicitly or otherwise, to the company or its shareholders. It is forbidden that publicly- held corporations and collective investment schemes and their subsidiaries and associates to transfer income to real persons or legal entities with whom they have a direct or indirect relationship in terms of management, audit or capital by decreasing their profits or their assets or by preventing the increase of their profits or their assets via performing transactions such as making contracts or commercial practices containing different prices, fees, costs or conditions producing a trading volume in violation of the conformity with market practices and comparability to similar transactions prudence and honesty principles of commercial life.

Vergi hukuku kurum ve işlemlerini iktisadi hayatın işleyişi üzerine kurmuştur. İktisadi hayat ise ticaret hukuku, borçlar hukuku ve medeni hukuk gibi özel hukuk kurallarının denetimindedir. Bu durumun doğal bir sonucu olarak da vergi hukuku vergiyi doğuran olayları tanımlarken özel hukukun kurum ve kavramlarından faydalanmaktadır. Hukuki işlemlerin en önemlilerinden biri olan özel hukuk sözleşmeleri de vergilendirmenin sebep unsurunu oluşturabilmektedir. Çalışmamızda vergi hukukunun özel hukuk ile ilişkisi açıklanmış ve özel hukuk sözleşmelerinin vergi hukukundaki geçerlilikleri literatürdeki farklı görüşlere, yargı kararlarına ve İdare'nin görüşlerine yer verilerek araştırılmıştır. Özel hukuk sözleşmeleri ile ortaya çıkartılabilen sayısız durumda her iki hukuk dalının aynı olaya farklı bakış açıları mükellefler ve İdare'nin sıklıkla karşı karşıya gelmesine sebep olmaktadır. Vergiyi doğuran olayın sözleşmelerle ortaya çıkması halinde adil bir vergilendirme bu sözleşmelerin hukuki nitelendirmelerinin doğru yapılmasıyla mümkün olmaktadır. Ayrıca vergi hukukunun özel hukuk kavramlarına atfettiği anlamlar verginin yasallığı ilkesi çerçevesinde kanunlarla şekillenmelidir. Anahtar Kelimeler : Vergi Hukuku, Özel Hukuk Sözleşmeleri, Verginin Yasallığı. Tax law establishes its institutes and procedures as based on the operation of the financial life. Financial life is under the control of the rules of the private laws such as trade law, obligations law and civil law. As a natural consequence of this, when tax law defines the events that give rise to tax, it also benefits from the institutions and concepts of the private law. Private law contracts, which are among the most important legal procedures, may also result in taxation. In our study, the relation of the tax law with private law is explained and the validity of the private law contracts in tax law is examined by inclusion of different opinions in the literature, judicial decisions and the opinions of the Administration. The different points of views of both branches of law about the same event in countless number of cases, which occur as a result of private law contracts, cause the tax payers come up against the Administration frequently. If the event giving rise to taxation is a result of the contracts, then a fair taxation is possible through correct legal identification of such contracts. Moreover, the meanings referred by the tax law to the private law concepts should be shaped by the laws within the frame of the principle of the legality of tax Keywords : Tax Law, Private Law Contracts, Legality of Tax

This thesis investigates three important issues on bank financial reporting quality: 1) the impact of banks’ retail versus wholesale funding structure on their earnings quality, 2) the implications of economic and monetary policy uncertainty for banks’ earnings opacity, and 3) the relationship between banks’ bad time history and accounting conservatism. In the first essay, we examine the implications of banks’ funding strategies for banks’ earnings quality. We find that banks’ greater reliance on retail deposits over wholesale funds is negatively and significantly associated with the magnitude of earnings management through discretionary loan loss provisions, the likelihood of meeting-or-beating earnings benchmark, and the extent of income smoothing through loan loss provisions. This finding is consistent with the arguments that retail deposits are relatively more stable and information-insensitive, represent a more conservative business model, and attract more intensive monitoring from the Federal Deposit Insurance Corporation (FDIC) than wholesale funds, thereby improving banks’ financial reporting quality. In the second essay, we investigate whether economic and monetary policy uncertainties affect banks’ earnings opacity. When economic and monetary policies are relatively uncertain, it is easier for bank managers to distort financial information, as unpredictable policy changes make assessing the existence and impact of hidden “adverse news” more difficult for investors and creditors. Policy uncertainty also increases the fluctuation in banks’ earnings and cash flows, providing additional incentives for bank managers to engage in earnings management. Our results show that uncertainty in economic and monetary policy is associated with greater magnitude of discretionary loan loss provisions, higher likelihood of just meeting-or-beating the prior year’s earnings, and lower levels of accounting conservatism, suggesting that economic and monetary policy uncertainties lead to higher banks’ earnings opacity. In the third essay, we examine the impact of banks’ bad times on the conservatism of accounting policy. Specifically, we investigate two types of bad times: banks’ own past experiences of undercapitalization and their experiences of witnessing the failures of other banks in state-wide and county-wide crises. We find that both types of banks’ bad times are positively related to timelier recognition of earnings decreases versus earnings increases in accounting income. We also find that following exposure to bad times, banks increase their allowance for loan losses. Collectively, our results suggest that bank-specific bad times and macro-level banking crises lead to greater bank accounting conservatism. These findings support the arguments that banks exposed to past crises overweight their bad time history, and become more cautious and pessimistic about their future earnings performance and loan quality.

The ability of an organization to adjust its operation in light of the evolving changes in their operating environment determines the sustainability of the business unit in both the short and long term. The objective of the study was to determine the response strategies adopted by Kenyan commercial banks in response to the interest capping laws. A descriptive cross-sectional design was used. The population of the study was 42 commercial banks operating in Kenya. Primary data was collected using a questionnaire that was both closed and open ended. Data was analysed using the descriptive statistics. The study found that banks have employed adaptation strategies through working with other partners in the banking sector to leverage their synergy and concentrate on areas that enhance competitive advantage. The research findings also reinforced the need for the banks to work together as a sector and attempt and change the laws that inhibit their operations through lobby groups in parliament and other forums. The study also show that there exists a link between firms‟ strategic activities and their strategic responses and therefore, bank managers should diversify their product range especially to the youth who are apt in using the mobile technology to access services and improve the bank level of efficiency and effectiveness in their operations. The study recommends that the commercial banks ought to conform to the regulations to attract customers while the Central Bank as a regulator should likewise be sensitive to the operating environment and should be flexible in setting the rules in order to attract investment and support the growth in the banking industry. The Interest capping law is still at its infancy stage in Kenya and thus there is room for further research as the full impact of the law is realized in the long term.

This thesis examines the jurisprudence of the World Trade Organization (WTO) Panels and Appellate Body (AB) and investment tribunals on non-discrimination clauses contained in the WTO agreements and investment agreements respectively. The thesis puts forward an alternative conceptual perspective through which the interpretation of non-discrimination provisions in international economic law could be analysed. It is argued that nondiscrimination obligations (as every legal rule to a greater or lesser extent) are inherently indeterminate. This is a fortiori the case in regard to non-discrimination provisions due to their link to the concept of equality. The concept of equality is open-ended and value-laden: its content depends on the prioritisation of different values. Thus, equality in the economic sphere can accommodate different conceptions which reflect different ideological approaches in relation to regulation, economic development and the proper role of the State in the economy. International courts and tribunals enjoy broad discretion in selecting which conception of equality to adopt when interpreting non-discrimination clauses. This indeterminacy is a positive characteristic of international economic regimes. Both the WTO and the investment arbitration regime are equipped with institutional characteristics which enable the contestation of different ideological approaches and promote pluralism. In the WTO context, this role is fulfilled by the institutional structure of the organization which facilitates the dialogue between the WTO members and the WTO Dispute Settlement System. In the realm of international investment arbitration, the mechanism of party-appointed arbitrators, despite its shortcomings which can be addressed, ensures value pluralism.

"Açık Kambiyo Senetleri" başlıklı bu çalışmada, 6102 sayılı Türk Ticaret Kanunu'nun 680. maddesinde yer alan düzenlemeden hareketle Türk hukukunda açık kambiyo senetleri; yani açık bono, açık poliçe ve açık çek ele alınmıştır. Açık kambiyo senetleri, senedi verenin, ileride unsurları tamamlanarak geçerli bir kambiyo senedi şeklinde ortaya çıkmak üzere, karşı tarafa bir doldurma yetkisi ile birlikte vermiş olduğu, imza dışındaki unsurlarının tamamı ya da bir kısmı boş bırakılmış olan, unsurları tam kambiyo senetlerinin ön aşaması niteliğindeki senetlerdir. Açık kambiyo senetlerinde imza sahibi, senedin anlaşmaya aykırı doldurulması rizikosunu üstlenmektedir. Bu nedenle ortaya çıkan hukuki görünüşe güvenerek senedi devralan kötüniyeti veya ağır kusuru bulunmayan hamil iktisabında korunur. TTK'nın 680. maddesinde açık kambiyo senetleri yalnız def'i yönünden ele alınmıştır. Oysa konuya ilişkin olarak üzerinde durulması meseleler bundan ibaret değildir. Bu nedenle üç ana bölümden oluşan bu çalışmanın birinci bölümünde açık kambiyo senetlerine ilişkin genel açıklamalara; ikinci bölümünde açık kambiyo senetlerinde doldurma hakkı, devri ve sona ermesine; üçüncü bölümünde ise açık kambiyo senetlerinin anlaşmaya aykırı doldurulmasının taraflar arası ilişkilerde ileri sürülmesi, ispatı ve cezai sonuçları konularına yer verilmiştir. In this study titled "The Blank Bills of Exchange", starting from Regulation in Article 680 of the Turkish Commercial Code no 6102, The Blank Bills of Exchanges; namely, blank bills, blank notes, and the blank cheques have been evaluated in Turkish law. The Blank Bills of Exchange are the preliminary notes of the full bill of exchange that the singer gave it to the opposing party with a filling entitlement to be revealed in the form of a valid bill of exchange in the future; all or some of the elements outside the signature are left blank. In the Blank Bills of Exchange, the owner of the signature undertakes the risk of filling the notes contrary to the agreement. For this reason, the person takes over the bill of exchange relying on the revealed legal appearance is protected as holder without bad faith or gross negligence. In the 680th article of the Turkish Commercial Code, the blank bills of exchange are dealt with only in terms of exceptions. However, this is not the only issue to focus on. For this reason, in the first part of this study, which consists of three main parts, general explanations about the Blank Bills of Exchange are given while the right to fill, turnover and termination in exchange notes are discussed in the second part. In the last chapter, the submission, prove and criminal consequences of the fulfilment of the Blank Bills of Exchange contrary to the agreement at the inter-party relations are introduced.

L’indivision prend fin par le partage. Le partage substitue des droits privatifs à une propriétécollective sur un bien ou une masse de biens qui est fractionnée.L’indivision est présentée traditionnellement comme un état éphémère, mauvais, auquel il fautmettre fin. Des règles juridiques spécifiques au partage ont alors été mises en place ; lafiscalité de l’enregistrement a assuré l’accompagnement de ces règles.Aujourd’hui le partage se conçoit en valeur. Les règles du partage ont donc évolué.Cette évolution n’est pas appréhendée par le droit fiscal. Le traitement des soultes, desindemnités de réduction ou de rapport est parfois contestable.En outre, l’administration fiscale maintient encore la distinction entre partage pur et simple etavec soulte, distinction qui n’emporte aucune conséquence en droit civil et qui ne se justifieplus aujourd’hui.Le partage a un effet déclaratif et rétroactif. Chacun des attributaires est réputé avoir été seulpropriétaire du bien mis dans son lot.Le régime des plus-values des particuliers s’est calqué sur cette analyse qui par voie deconséquences, fait fi du partage et des soultes ou indemnités qui sont versées par l’attributairedu bien. L’analyse juridique du partage ignore l’aspect économique du partage.Quant à la fiscalité professionnelle, les règles sont complexes et disparates, pasnécessairement fondées sur l’analyse juridique ; le traitement fiscal du partage est alorsd’autant plus compliqué.

Les étrangers non-résidents représentent une catégorie juridique très particulière de contribuables. Deux conditions sont nécessairement réunies pour taxer ces opérateurs économiques : un critère de territorialité qui tient à la localisation de leur obligation fiscale, il s'agit du domicile fiscal ; et puis un critère de nationalité. La définition de ce contribuable est négative car il s'agit ainsi d'une personne qui n'a pas la nationalité française, et qui n'a pas son domicile fiscal en France. Le législateur ne fait que très rarement référence explicitement aux étrangers non-résidents dans le Code général des impôts, le principe étant l'assimilation avec les non-résidents français. Néanmoins, lorsqu'il y fait directement référence, c'est notamment pour le discriminer par rapport aux nationaux. Il en résulte une différence de traitement fiscal le plus souvent contraire aux normes communautaires et internationales lesquelles agissent efficacement contre toute dérive protectionniste du législateur français. En effet, le principe d'égalité et son corollaire le principe de non-discrimination constituent des principes fondamentaux du droit communautaire et international, lesquels se chargent de neutraliser les dispositifs fiscaux nationaux qui font application du critère de nationalité dans la taxation des étrangers non-résidents en France. En définitive, la rupture du principe d'assimilation envers les nationaux non-résidents crée des contentieux juridiques qui forcent l'Etat français à s'aligner sur la législation externe et qui tendent par conséquent à aboutir à la fin des discriminations. Non-resident aliens represent a very specific legal category of taxpayers. Two conditions are necessarily met in order to tax these economic operators : a territoriality criterion relating to the location of their tax liability, it is the fiscal domicile; and then one of nationality. The definition of taxpayer is negative, as a matter of fact, it is a person who does not have French nationality, and who does not have tax domicile in France. The French legislature makes explicit references to non-resident foreigners in the Tax Code, the principle being the assimilation with the French non-residents. However, when there is a direct reference, it is to discriminate against national. This results in a difference in tax treatment most often contrary to EU and international standards which effectively act against any protectionist drift of the French legislator. Indeed, the principle of equality and its corollary, the principle of non-discrimination are fundamental principles of EU and international law, which are responsible for neutralizing the national tax systems which apply the criterion of nationality in the taxation of non-resident aliens in France. At last, breaking the principle of assimilation to national non-residents creates legal disputes that force the French legislator to align with the external legislation and which therefore tend to lead to an end to discrimination.

Cette communication a pour objectif d'appréhender les difficultés rencontrées par les PME congolaises à l'aube de la mutation comptable PCGC/OHADA et les facteurs qui les causent. L'enquête par questionnaire mené auprès d'un échantillon 99 PME opérant dans la partie Ouest de la RD Congo a permis de mettre en évidence deux faits saillants suivants : (i) la mutation comptable PCGC/OHADA s'implémente avec difficulté en contexte des PME. Ces difficultés sont plus ressenties lors des travaux d'inventaire (application difficile de la convention de la prééminence de la réalité sur la forme), dans la tenue des livres comptables (tenue manuelle, traitement approximatif des opérations sur la TVA) ainsi que dans la confection de certains tableaux de synthèse (notamment le TAFIRE); (ii) les facteurs de contingence structurelle (la taille de l'entreprise et son organisation comptable) et les facteurs de contingence comportementale (les profils de dirigeants et de teneur de livres comptables) se révèlent significativement comme étant les causes de ces difficultés.

La microfinance connaît un développement considérable dans le monde de longue date. Elle est restée insignifiante jusqu’aux années 1990 au sein des Etats membres de la Communauté Economiques et Monétaire de l'Afrique Centrale (CEMAC) avant de connaître, sous l’effet conjugué du rôle actif de la Banque mondiale dans la lutte contre la pauvreté, un contexte juridique mal codifié et des politiques économiques exclusives, son essor et une expansion rapide marquée par une certaine anarchie et beaucoup de faillites aux conséquences négatives sur les économies et le moral des populations pauvres clientes des institutions de microfinance (IMF).Conscients des enjeux politiques et incités par les experts de la Banque mondiale, les chefs d’Etats de la CEMAC ont recherché des solutions visant à réglementer ce secteur en confiant à la Commission bancaire de l'Afrique centrale (COBAC) la mission d’édifier un cadre réglementaire et d’en assurer la supervision.Malgré cette réglementation, le taux de défaillance des IMF demeure élevé ce qui laisse à penser qu’il existe de failles structurelles qui nuisent à l’applicabilité des textes et/ou à l’exercice d’une bonne supervision.A partir d’une étude empirique construite autour d’un échantillon d’organisations de microfinance, il est mis en évidence des défaillances dont l’analyse des caractéristiques permet de dégager des stratégies appropriées pour y remédier.L’étude écarte l’absence de patrimoine des clients des IMF comme facteur risque justifiant une réglementation prudentielle. Elle montre à cet effet que les IMF ont un fonctionnement adapté au contexte d’information imparfaite avec les prêts de groupe à responsabilité conjointe et les prêts individuels renouvelés. Par conséquent, elle incite à se concentrer sur l’objet même de la réglementation et les pratiques de sa supervision.Cette réglementation de la microfinance dans la CEMAC tend à se conformer aux standards prudentiels internationaux. Mais il s’avère qu’elle nécessite des corrections pour plus d’efficacité et d’efficience.

Le blanchiment d'argent représente une réelle menace pour l'économie mondiale. Les États sont appelés à coordonner leurs efforts pour combattre efficacement ce fléau. C'est la raison pour laquelle les États de la Communauté économique et monétaire de l'Afrique centrale (CEMAC) se sont engagés dans cette lutte au début des années 2000. Ils ont adopté un cadre institutionnel et normatif anti-blanchiment qui a vocation à se hisser au niveau des standards européens et internationaux dans ce domaine. Les textes normatifs supranationaux adoptés comportent des incriminations et des sanctions pénales du blanchiment. Pourtant, l'analyse des textes organiques ne laisse percevoir aucune compétence pénale dévolue à la CEMAC ou à ses institutions et organes. Plus encore, le processus décisionnel conduisant à l'adoption de ces textes soulève des questions de légalité et de légitimité. Aussi, en recherchant la conformité de son dispositif anti-blanchiment aux normes et standards européens et internationaux, la CEMAC a perdu de vue ses propres réalités régionales de sorte qu'une domestication de l'approche de la lutte anti-blanchiment s'impose pour une meilleure efficacité.

Le mécanisme de solidarité traverse le droit fiscal. D’essence civile, la solidarité est intimement liée aux moyens de recouvrement dont dispose l’administration. S’agissant du dirigeant de société, sa « responsabilité pécuniaire » ou « solidarité patrimoniale » est actuellement suspendue à la décision du juge. Or, deux textes prévoient la solidarité du dirigeant selon qu’il s’agisse du juge de la responsabilité (LPF, art. L. 267) ou du juge répressif (CGI, art. 1745). Si ces deux dispositions sont indépendantes l’une de l’autre au motif qu’elles n’ont ni la même cause, ni le même objet, ni le même demandeur, il y a lieu de s’interroger sur leur portée respective, souligner leurs écueils et présenter les voies d’une réforme de la solidarité du dirigeant au passif fiscal. Il s’agit à la fois à rendre davantage efficace l’action en recouvrement de l’administration et garantir les droits dont dispose le dirigeant. La prégnance de la situation actuelle impose le pragmatisme : recouvrer le passif fiscal formé essentiellement par la TVA et suspendre la solidarité à l’intentionnalité des manquements à l’origine du passif fiscal dès la procédure d’assiette.

Les activités économiques à l’instar de toute œuvre humaine ont besoin d’une réglementation, a fortiori les entreprises qui jouent un rôle majeur et crucial dans la vie économique d’un pays, d’une région, d’un continent. En effet, les actionnaires ou associés de ces entreprises y tirent des dividendes, les employés des salaires, les prêteurs des intérêts sur les crédits consentis, l’Etat des impôts et la création des emplois. Cette réglementation peut couvrir divers domaines. Outre la règlementation générale, les sociétés ont besoin d’une réglementation propre à leurs activités. Comme toute entreprise, la banque elle aussi a besoin d’une réglementation. Celle-ci est générale et spécifique. Outre les avantages généraux et particuliers suscités que peut faire procurer une entreprise, la banque fait circuler de l’argent en mettant à la disposition des agents économiques des moyens de paiement, par les crédits qu’elle octroie. Elle participe à l’émission monétaire, considérée comme un privilège régalien. La réglementation couvre deux aspects. Elle est d’abord l’œuvre des autorités étatiques puis communautaires. A cet effet, deux textes seulement ont été depuis lors adoptés : le décret du 4 février 1965, un texte purement organisationnel et la loi du 19 mai 1995 relative au secret bancaire. Les institutions communautaires que sont la BEAC et la COBAC ont mis en place des organes et des normes lesquels ont presque supplanté ceux créés par les autorités nationales. Le second aspect de la réglementation concerne les autres règles juridiques applicables à toute entreprise fonctionnant dans une économie libérale. Mais celles-ci fragmentaires et parcellaires s’avèrent insuffisantes. En effet, selon le principe de la permanence législative, le Tchad a adopté lors de son accession à l’indépendance en 1960, la législation alors en vigueur en métropole. Mais l’incertitude demeure quant à l’application des normes car cette permanence législative se voit réduite par un autre principe, celui de la spécialité législative. L’OHADA qui prétendait lors de sa création en 1993 remédier au vide juridique en matière de droit des affaires dont le droit bancaire s’est désistée en 2010 au profit des institutions sous régionales. A défaut des normes adéquates, le banquier tchadien se sert des règles récentes issues des lois françaises à titre de « raison écrite », de droit comparé ou des usages. Ainsi, tant au niveau local, sous régional que régional, le vide juridique, prélude à l’insécurité judiciaire est patent. Cette insécurité judiciaire est encore aggravée par l’insuffisance des règles procédurales, la défaillance des institutions judiciaires, le foisonnement des justices parallèles et la persistance de la mauvaise gouvernance.

L'évolution de certains facteurs comme l'augmentation de l'incertitude et de l'instabilité dans les environnements financiers et d'affaires, combinée à un changement de normalisation comptable sans précédent au Canada, ont contribué à l'augmentation de plus en plus importante de la complexité du processus décisionnel des utilisateurs professionnels comme les directeurs de comptes (DC). Par conséquent, il apparait important d'examiner si des variables autres que celles déjà étudiées dans la littérature pourraient avoir une influence sur le processus décisionnel des DC. Cette étude est une recherche expérimentale qui, en premier lieu, montre la différence qu'a eue la constatation aux résultats d'une charge relative aux provisions par rapport à la divulgation par voie de note de la même information sur les jugements et décisions de DC, et en second lieu, innove en examinant la présence d'un effet modérateur d'une variable correspondant à une caractéristique personnelle des DC, l'I.E. Après avoir analysé les informations fournies, les participants ont indiqué leurs jugements et leurs décisions quant à quatre variables que sont : (1) la cote de risque globale de l'entreprise, (2) la cote de tendance globale de l'entreprise, (3) la décision d'octroi du prêt et (4) la décision sur le taux d'intérêt exigé. La variable indépendante manipulée correspond aux différents niveaux de divulgation de l'information relative aux provisions : (1) évaluation et présentation selon le chapitre 3290, impliquant l'évaluation de la provision selon le montant le plus probable et présentation regroupée au bilan; (2) évaluation et présentation selon l'IAS 37, impliquant l'évaluation de la provision selon le montant le plus probable et présentation séparée au bilan; (3) évaluation et présentation selon l'ES-IAS 37, impliquant l'évaluation de la provision selon la valeur actuelle attendue des différentes sorties de ressources possibles et présentation séparée au bilan. Le but de cette recherche étant d'examiner si l'I.E. des DC modère l'impact de la manipulation expérimentale du niveau de divulgation de l'information relative aux provisions sur leurs jugements et si elle modère l'impact de ces jugements sur leurs décisions, le niveau d'I.E. des DC a été considéré comme variable modératrice. Les résultats indiquent que les façons de divulguer l'information relative aux provisions affectent le jugement de la CT mais pas celui de la CR. Les DC établissent une CT plus optimiste lorsque les états financiers sont basés sur la norme IFRS proposée par l'exposé-sondage. Les résultats indiquent que la décision d'octroi du prêt est significativement influencée par le jugement de la CR, soit que le pourcentage de DC acceptant le prêt est plus important plus la CR est optimiste. Les résultats n'indiquent qu'un effet plutôt marginal du jugement de la CT sur cette décision. Les résultats indiquent que la décision relative au taux d'intérêt est significativement influencée par le jugement de la CR, confirmant l'hypothèse que plus la prime demandée pour l'établissement du taux d'intérêt est petite plus le jugement de la CR est optimiste. La décision sur le taux d'intérêt est également influencée significativement par le jugement de la CT, mais seulement lorsque l'on compare les deux positions extrêmes de ce jugement (positive vs négative). En ce qui a trait à l'effet modérateur anticipé de l'I.E., les résultats indiquent que les jugements de la CR et de la CT ne sont pas influencés par le niveau d'I.E. des DC. Aussi, l'impact du niveau de divulgation de l'information relative aux provisions sur les jugements de la CR et de la CT n'est pas influencé par le niveau d'I.E. des DC. En ce qui a trait à la relation entre les jugements de la CR et de la CT avec la décision d'octroi du prêt, les résultats indiquent que le niveau d'I.E. des DC ne contribue pas à expliquer cette décision. Aussi, l'impact des jugements de la CR et de la CT sur la décision d'octroi du prêt n'est pas influencé par le niveau d'I.E. des DC. Finalement, pour ce qui est de la relation entre les jugements de la CR et de la CT avec la décision sur le taux d'intérêt, les résultats indiquent que la décision sur le taux n'est pas influencée par le niveau d'I.E. des DC. De plus, l'impact des jugements de la CR et de la CT sur la décision relative au taux d'intérêt n'est pas influencé par le niveau d'I.E. des DC.

This paper contributes to measuring the influence of business (and tax) law reforms on sub-Saharan African countries tax mobilization ability. Relying on a new business law reform indicator, our results validate the significant impact of corporate law modernization on governmental revenue, and unearth a complementary effect between business and tax law reforms.

Microfinance institutions are specialized in the financing of economic activities of small sizes. They have a social role to target many excluded from the traditional financial system, including poor households, sole proprietorships, small and medium enterprises and mutual aid associations by offering to them suitable financial services (Kobou et al. 2009). In doing so, they are perceived by the vast majority of public opinion internationally as a useful lever for poverty reduction. They must nevertheless obtain sufficient economic and financial results to ensure their viability and sustainability. But in recent decades, there is a certain fragility of MFIs with cases of cascading bankruptcy in Cameroon, where one of the major causes of this bankruptcy remains the unpaid. This study examines the causes of the unpaid loan in the microcredit process in second category of microfinance institutions in Cameroon through the specific case of the "Bourse d’Epargne et de Credit" (BEC). To do this, a multi-variables analysis based on logistic regression method was performed on 195 individuals who have benefited the credit based on six factors, including the sex of the applicant (male or female), the socio professional category of applicant (trader, employee, and very small business-man), the credit period, the number of times an individual has benefited a credit, interest expenses borne by the applicant and the time to study and reply one credit demand. After analysis and discussion, it emerges that: the very small business-man, credit duration, the number of times an individual has benefited the loan; the interest charges borne by the customer are risk factors that increase the level of unpaid with a significant level of 5%. Other factors of the professional category (trader and employee); the credit applicant customer's gender (male or female) and the time to study and reply to a credit demand are factors that have low risk for unpaid. These factors are considered as protective factors of unpaid, also at the significant level of 5%. In addition, it also shows that certain portion of the target where credit is granted is unsuited to the context of the institution's objectives; there is a managerial problem in the structure in question.

Sovereign Wealth Funds have been the new 'rising star' of the global economy for a few years. Host States have reacted to their rise cautiously and have quite frequently cited 'national security' as a justification for maintaining an absolute degree of freedom in regulating their entry into their markets. This thesis is arguing that a substantial proportion of regulatory concerns that surround the operation of SWFs are actually not of a national security nature—at least as perceived by the relevant instruments regulating investment in International Economic Law. As a consequence, the current regulatory framework screening SWFs investments a priori is both legally and normatively problematic and, in fact, it constitutes a form of protectionism. As an alternative, this thesis suggests that SWFs ought to be primarily regulated after their entry into Host States' markets. In that context, a proper conceptualisation of the principle of non-discrimination that takes into account the 'regulatory unlikeness' between SWFs and other market suppliers/investors will allow the Host States to properly regulate them after their entry into their markets. Such a conceptualisation – contrary to usual analyses – draws heavily from International Investment law in order to interpret the relevant provisions of the GATS.

Francophone African countries have made a tremendous effort in harmonising domestic standards and reporting with the International Financial Reporting Standards (IFRS). Moving from two distinct OCAM streams to two OHADA streams (effective 1985) and now one OHADA Uniform Accounting Act embodying 17 member countries (effective 2001) is a milestone towards harmonisation of reporting practice both domestically and internationally. This empirical study examines whether the effort of harmonisation, especially after the 2001 standards has resulted in the successful convergence of firms' accounting practices by analysing public limited liability companies' compliance with the OHADA Uniform Accounting Act and if such compliance has improved over time. The study has been carried out using the 2008 and 2009 annual reports of three public limited companies in the OHADA zone that translate their financial statements into IFRS. The ranks of closeness and compliance index have been used to analyse data. Findings reveal a relatively high level of compliance with the accounting regulation by sampling limited liability companies. The results also give an indication of harmonisation in accounting practice of limited companies within member countries as they were found to be substantially consistent in compliance, especially in countries that have instituted the Statistics and Tax returns (or "DSF") as a reporting medium.