In tribute to the lifetime achievements of Dr. Thomas S. Ulen, this Article addresses the topic of the future of law and finance within the broader context of the future of law and economics. After highlighting some of the differences between the U.S. and European approaches to law and finance,...

This paper is one chapter of the volume “Regulation and Economics” of the second edition of the Encyclopedia of Law and Economics.The authors review the economics of banking and financial markets and the regulatory response to market failure. Market failure in finance depends on problems of...

Corporate governance is not only a question of equity governance, but for banks specific debt governance issues are also involved. It is analysed how debt governance, and in particular the incentives and power of the parties in the banking firm to assume (excessive) risk are affected by...