This paper explores the introduction of SICAV in Czech law, its development and the related difficulties including the tax perspective. Although this legal form helped to boost the collective investment sector in the Czech Republic, in particular for qualified investors’ funds, it is under constant threat of law amendments, which have a negative impact on further progress in the popularity of SICAVs as well as other forms of investment funds.

SICAV, as a legal form governed by both private (corporate) and public (regulatory) law, presents a good example of how the two sets of partly autonomous rules may clash and cause undesirable effects. The paper highlights the main inefficiencies and discrepancies, which lead to interpretation difficulties and legal uncertainty.

The hypothesis of this paper lies in investigating how local factors in one country, such as the influence of other pieces of legislation and tax environment, negatively impact solutions and models which are standardised and successfully deployed across the EU.

It is argued that not only legal and regulatory aspects determine the popularity of investment funds, but a wider landscape, including the activities and approach of the supervisory authority and network of professionals (legal and tax advisors or auditors), plays a crucial role in capital markets development

The purpose of this article is to conduct an axiological and legal analysis of the most popular model of participatory budgeting in Poland (the plebiscite model), being a special form of public consultation that allows the residents to decide each year on a part of the commune’s budget expenditure by direct voting. According to the paper’s hypothesis, both the PB legal rules as well as the practice of its application in Poland are not axiologically neutral, which means that they have a positive or negative impact on certain public values, appropriately strengthening or violating them. In the research, the combination of three coherent methods was used: (i) a literature analysis, (ii) the dogmatic and legal method, and (iii) interviews conducted with three groups of PB participants, i.e. municipal officials responsible for the organization of PB procedure, municipal councillors, and residents. The research covers six Polish cities and bases on a catalogue of nodal public values including: human dignity, sustainability, citizen involvement, openness, secrecy, compromise, integrity, and robustness. The research leads to the conclusion that the plebiscite BP in Poland is not axiologically neutral, its rules have both a positive and negative impact on particular nodal public values, however the scale of negative impact is greater than the scale of the positive one.

The efficiency of securities market has generated a lot of controversy over four decades in finance and economic discussions leading to some people accepting or rejecting the efficient market hypothesis. Hence this paper examines the growing body of empirical research on efficient market hypothesis on the Nigerian capital market for the past twelve years (2010-2021). The paper particularly surveys empirical research and specialized literature as it relates to the Nigerian capital market. The paper is purely empirical research that have been published in various academic journals on the Nigerian capital market. Findings from the empirical research show that there has been no consensus on the efficiency of the Nigerian capital market. However, the market seems to be efficient in the weak-form. The conclusion of this paper is that there are inherent difficulties in testing for market efficiency in developing countries capital market due to certain market imperfections that could affect the informational efficiency of the market.