The TTIP, ISDS and the shift towards transparency in investor-state arbitration

The negotiations between the EU and the US over the Transatlantic Trade and Investment Partnership (TTIP) have generated a lot of discussion about investor-state dispute settlement (ISDS). This discussion provided the inspiration for this thesis, with the TTIP in the background, setting the scene. In this thesis I study the nature of ISDS and the principle of transparency within investor-state arbitration. I aim to determine whether the use of ISDS is restricted to international arbitration and whether ISDS can be considered to constitute a system or regime. Furthermore, I consider whether the introduction of the UNCITRAL Rules on Transparency in Treaty-based Investor-State Arbitration (2014, the UNCITRAL Transparency Rules) changes investor-state arbitration in relation to transparency. To achieve this, I examine ISDS provisions in several different international investment agreements (IIAs) and evaluate the ways in which transparency is incorporated into investment law. Moreover, I compare the provisions on transparency and confidentiality in institutional arbitration rules with the UNCITRAL Transparency Rules. I have formed several conclusions, including that the ISDS provisions may contain methods other than international arbitration and that ISDS does not constitute a system. Furthermore, the UNCITRAL Transparency Rules do change – theoretically, at least – investor-state arbitration to become more transparent. Whether the UNCITRAL Transparency Rules will make investor-state arbitration fully transparent depends on the actions of the contracting state parties when negotiating new IIAs and whether they choose to incorporate the UNCITRAL Transparency Rules in the IIAs already concluded.

Issues in the Transatlantic Trade and Investment Partnership: A critical discourse analysis

Negotiating trade agreements is an important part of government trade policies, economic planning and part of the globally operating trading system of today. European Union and the United States have been active in the formation of trade agreements in global comparison. Now these two economic giants are engaged in negotiations to form their own trade agreement, the so called Transnational Trade and Investment Partnership (TTIP). The purpose of this thesis is to understand the reasons for making a trade agreement between two economic areas and understanding the issues it may include in the case of the TTIP. The TTIP has received a great deal of attention in the media. The opinions towards the partnership have been extreme, and the debate has been heated. The purpose of this study is to introduce the nature of the public discussion regarding the TTIP from Spring 2013 until 2014. The research problem is to find out what are the main issues in the agreement and what are the values influencing them. The study was conducted applying methods of critical discourse analysis to the chosen data. This includes gathering the issues from the data based on the attention each has received in the discussion. The underlying motives for raising different issues were analysed by investigating the authors’ position in the political, economic and social circuits. The perceived economic impacts of the TTIP are also under analysis with the same criteria. Some of the most respected economic newspapers globally were included in the research material as well as papers or reports published by the EU and global organisations. The analysis indicates a clear dichotomy of the attitudes towards the TTIP. Key problems include lack of transparency in the negotiations, the misunderstood investor-state dispute settlement, the constantly expanding regulatory issues and the risk of protectionism. The theory and data does suggest that the removal of tariffs is an effective tool for reaching economic gains in the TTIP and even more effective would be the reducing of non-tariff barriers, such as protectionism. Critics are worried over the rising influence of corporations over governments. The discourse analysis reveals that the supporters of the TTIP have values related to increasing welfare through economic growth. Critics do not deny the economic benefits but raise the question of inequality as a consequence. Overall they represent softer values such as sustainable development and democracy as a counter-attack to the corporate values of efficiency and the maximising of profits.

Etelä- ja Itä-Kiinan meret aluekiistojen ja valtakamppailun näyttämönä

Etelä- ja Itä-Kiinan meret ovat maailman liikennöidyimpiä – ja kiistellyimpiä – merialueita. Merialueita ympäröivät valtiot ovat ajautuneet kiistelemään jopa pinnanalaisista karikoista, mutta miksi? Aluekiistojen taustalta löytyy useita geo-poliittisia tekijöitä ja valtioiden intressien ristiriitaisuus tekee kiistoista hankalia ratkaista. Alueen suurvalta Kiina on modernisoinut asevoimiaan ja Yhdysvallat pyrkii yhteistyöhön Kiinaa ympäröivien maiden kanssa sekoittaen entisestään alueen voimasuhteita.

Development of an investor relations strategy - Case SSH Communications Security Corp. Communications Security Corp.

Tutkimuksen tavoitteena oli muodostaa viitekehys sijoittajaviestinnän strategian muodostamiseen ja soveltaa viitekehystä käytännössä. Tutkimusongelma nousi case-yrityksestä, SSH Communications Security Oyj:stä, joka listautui vuoden 2000 lopussa. Teoreettinen viitekehys perustuu aikaisempaan kirjallisuuteen sijoittajaviestinnästä, strategian kehittämisestä ja rahoitusteoriasta. Rahoitusteorian alueet, joita käsiteltiin tutkimuksessa ovat; vapaaehtoinen tiedottaminen, markkinatehokkuus ja agenttiteoria. Tutkimuksen empiirinen osa toteutettiin soveltamalla teoreettista viitekehystä case yritykseen. Empiirisessä osuudessa käytiin läpi seuraavat vaiheet; nykyisen tilan ulkoinen ja sisäinen analyysi, tavoitteiden asettaminen ja sijoittajaviestintä strategia ehdotuksen muodostaminen case yritykseen. Tutkielman viimeinen kappale kokoaa tärkeimmät löydökset, pohtii työn teoreettista kontribuutiota ja liikkeenjohdollisia kytköksiä sekä esittää tutkimuksen herättämiä ehdotuksia jatkotutkimuksille