We analyze how the law and its enforcement affect equity market equilibrium. Improvements in the legal system, while …

quality of institutions, such as judicial efficiency and rule of law, but have no relationship with measures of shareholder … efficiency and rule of law, but negatively with shareholder rights' protection, controlling for risk and expected earnings growth …

mechanism of dispute resolution within the framework of a disciplinary mode of administrative law within a bureaucratic …

, financial markets exhibit dynamics that frequently put them in direct tension with commitments enshrined in law or contracts … self-destruction of the financial system. This law-finance paradox tends to be resolved by suspending the full force of law …

when the descriptive and prescriptive norms conflict. The next main question is the expressive role of law. The choices of … also what shapes social judgements and moral sentiments. Setting law thus means both imposing material incentives and … analysis, combining an informed principal with individually signaling agents, makes precise the notion of expressive law …

privatization on airport charges in a panel data setting where fixed effects can be employed to mitigate endogeneity concerns. Our …

This paper offers a unique quantitative evaluation of the distribution of the welfare of a water privatization … intermediate suppliers and investors have also clearly benefited during the short privatization duration. However the paper also …

examines the impact of the privatization of kibbutzim on fertility behavior among members. We find that fertility declined by 6 …-15 percent following the shift to privatization. In light of the massive change in financial costs associated with childbearing … due to privatization, our results suggest that financial considerations may be a more modest factor in fertility decisions …

This paper interprets the existing evidence on enterprise restructuring in Poland, Hungary and the Czech Republic …

This paper investigates whether privatization in emerging economies has a significant indirect effect on local stock … market development through the resolution of political risk. We argue that a sustained privatization program represents a … to regulatory and private property rights. We present evidence suggesting that progress in privatization is correlated …