This paper examines the appropriateness of the adoption of Anglo-American type of reorganization provisions into national bankruptcy law using Thailand as a sample. It argues that such adoption shall be cautious. Sinc...This paper examines the appropriateness of the adoption of Anglo-American type of reorganization provisions into national bankruptcy law using Thailand as a sample. It argues that such adoption shall be cautious. Since Thailand started to accommodate such provisions, reorganization, apparently, has limited usefulness--benefitting only large-scale debtors because it does not fit with the nature of Thai business culture, i.e., the borrowing-lending relationship and less-than-arm＇s length business connections. On average, only every one in 200 bankruptcy cases employs reorganization; the rest goes for liquidation but the average outstanding debt in reorganization is over 30 times higher than liquidation. Interestingly, the adjudication rate of reorganization is faster than those of liquidation. Debtors＇ strategic use of the law and the procedural bias are suspected. Debt restructuring led by the central bank in cooperation with commercial banks, instead, is overwhelmingly more successful, equally efficient, and effective because any ailing firm can renegotiate its borrowing contract rather easily in the low transaction cost environment. Debt restructuring outperformed reorganization roughly 800 and two times in terms of cases and debt amount respectively. Thus, the adoption of non-indigenous provisions shall be made prudently. This argument applies towards the standardization of insolvency legislation. Standardizing bankruptcy procedures shall be made carefully and national economic conditions including local business nature and uniqueness are worth examined before any enactment or amendment. Otherwise, benefits of international trade and investment would be achieved at the expense of economic efficiency.展开更多
In order to reduce the quantity of water applied by irrigation, increase the water use efficiency and determine the appropriate period for irrigation potato crop, a field experiment was implemented at vegetables field...In order to reduce the quantity of water applied by irrigation, increase the water use efficiency and determine the appropriate period for irrigation potato crop, a field experiment was implemented at vegetables field, Department of Plant Production, Agriculture Technical College, Mosul, Iraq, during spring season of 2014. This study involved four irrigation intervals （3, 4, 5 and 6 d） under drip irrigation system, with spraying by five antitranspirant substances （control, kaolin 5 g/L, MgCO3 3 g/L, liquid paraffin 2% and Nu-film 17 1%）, which subjected in a factorial experiment within split plot system in a randomized complete block design with three replications. The results showed that increasing irrigation intervals from 3 d to 6 d decreased the total water content of the leaves from 83.59% to 81.81%, the rate of relative transpiration from 0.174% to 0.162%, stomata area from 1.620 lam2/stomata to 0.921 ~m2/stomata, plant yield from 542.22 g to 425.80 g, total yield of tubers from 25.808 tons/ha to 20.253 tons/ha and marketable yield of tubers from 24.471 tons/ha to 18.822 tons/ha, whereas caused an increase in the leaf water deficit from 19.19% to 23.86% and water use efficiency from 8.63 kg/m3 to 13.32 kg/m3. Spraying potato plants with liquid paraffin 2% led to the highest total water content 83.37%, stomata area 1.466 ~tm2/stomata, the lowest relative transpiration 0.152%, the lowest leaf water deficit 20.33%, the highest plant yield 509.22 g, total yield 24.236 tons/ha, marketable yield 22.770 tons/ha and water use efficiency I 1.83 kg/m3. On the other hand, the interaction treatments between irrigation intervals and antitranspirants resulted in a significant effect in many studied parameters.展开更多
文摘This paper examines the appropriateness of the adoption of Anglo-American type of reorganization provisions into national bankruptcy law using Thailand as a sample. It argues that such adoption shall be cautious. Since Thailand started to accommodate such provisions, reorganization, apparently, has limited usefulness--benefitting only large-scale debtors because it does not fit with the nature of Thai business culture, i.e., the borrowing-lending relationship and less-than-arm＇s length business connections. On average, only every one in 200 bankruptcy cases employs reorganization; the rest goes for liquidation but the average outstanding debt in reorganization is over 30 times higher than liquidation. Interestingly, the adjudication rate of reorganization is faster than those of liquidation. Debtors＇ strategic use of the law and the procedural bias are suspected. Debt restructuring led by the central bank in cooperation with commercial banks, instead, is overwhelmingly more successful, equally efficient, and effective because any ailing firm can renegotiate its borrowing contract rather easily in the low transaction cost environment. Debt restructuring outperformed reorganization roughly 800 and two times in terms of cases and debt amount respectively. Thus, the adoption of non-indigenous provisions shall be made prudently. This argument applies towards the standardization of insolvency legislation. Standardizing bankruptcy procedures shall be made carefully and national economic conditions including local business nature and uniqueness are worth examined before any enactment or amendment. Otherwise, benefits of international trade and investment would be achieved at the expense of economic efficiency.
文摘In order to reduce the quantity of water applied by irrigation, increase the water use efficiency and determine the appropriate period for irrigation potato crop, a field experiment was implemented at vegetables field, Department of Plant Production, Agriculture Technical College, Mosul, Iraq, during spring season of 2014. This study involved four irrigation intervals （3, 4, 5 and 6 d） under drip irrigation system, with spraying by five antitranspirant substances （control, kaolin 5 g/L, MgCO3 3 g/L, liquid paraffin 2% and Nu-film 17 1%）, which subjected in a factorial experiment within split plot system in a randomized complete block design with three replications. The results showed that increasing irrigation intervals from 3 d to 6 d decreased the total water content of the leaves from 83.59% to 81.81%, the rate of relative transpiration from 0.174% to 0.162%, stomata area from 1.620 lam2/stomata to 0.921 ~m2/stomata, plant yield from 542.22 g to 425.80 g, total yield of tubers from 25.808 tons/ha to 20.253 tons/ha and marketable yield of tubers from 24.471 tons/ha to 18.822 tons/ha, whereas caused an increase in the leaf water deficit from 19.19% to 23.86% and water use efficiency from 8.63 kg/m3 to 13.32 kg/m3. Spraying potato plants with liquid paraffin 2% led to the highest total water content 83.37%, stomata area 1.466 ~tm2/stomata, the lowest relative transpiration 0.152%, the lowest leaf water deficit 20.33%, the highest plant yield 509.22 g, total yield 24.236 tons/ha, marketable yield 22.770 tons/ha and water use efficiency I 1.83 kg/m3. On the other hand, the interaction treatments between irrigation intervals and antitranspirants resulted in a significant effect in many studied parameters.
