This book is the Russian language version of our treatise on the Russian Law on Joint Stock Companies, which we participated in drafting. You can download either the entire book (click on the download document button below), or one or more of its parts. It contains three parts: (1) a general...

In Russia and elsewhere, proponents of rapid, mass privatization of state-owned enterprises (ourselves among them) hoped that the profit incentives unleashed by privatization would soon revive faltering, centrally planned economies. The revival didn't happen. We offer here some partial...

A decade of experience with the transition from centrally planned to market economies has taught us that the strength of a country's market-supporting quot;institutionsquot; powerfully affect transition success. However, the necessary institutions are rarely specified in detail. This Article is...

"Organizational law empowers firms to hold assets and enter contracts as entities that are legally distinct from their owners and managers. Legal scholars and economists have commented extensively on one form of this partitioning between firms and owners: namely, the rule of limited liability...