Disruptive technologies displace established industries by creating innovative products that lead to completely new markets. Developments such as e-commerce or social media have had a profound impact on society. Law generally reacts to such developments only if there are circumstances (e.g. case...

The Swiss economy represents an exception to the legal origin theory (e.g., Roe (2006)). Although Switzerland is a country belonging to the civil law family, many of its public companies have diffused corporate ownership, as do those in common law countries. This paper maintains that the Swiss...

In proceedings in front of an arbitrary tribunal, at international such as also, at the national level, the question always arises as to the applicable substantive law. For the purpose of determining the applicable substantive law, the Arbitration largely recognized the principle of party...

The development of the constitution must be based on the rule of law. Direct democratic rights allow citizens to participate in the amendment process. The direct democratic process of institutional change is theoretically and empirically analyzed. A number of counter arguments and issues for a...

We are the first to examine the market reaction to 13 announcement dates related to IFRS 9 for over 5,400 European listed firms. We find an overall positive reaction to the introduction of IFRS 9. The regulation is particularly beneficial to shareholders of firms in countries with weaker rule of...