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Norms In Private Insolvency Procedures: The 'London Approach' To The Resolution Of Financial Distress
Armour, John; Deakin, Simon - ESRC Centre for Business Research - 2000
Approach', guide the resolution of financial distress by creditors of large UK firms and act as a substitute for legal …
Persistent link: https://www.econbiz.de/10005813027
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The Law and Economics of Corporate Insolvency: A Review
Armour, John - ESRC Centre for Business Research - 2001
Law and economics scholarship has contributed greatly to our understanding of corporate insolvency law. This paper provides an overview of this literature. It begins by defining some relevant terminology, and then reviews theories about the goals of insolvency law. It then considers Jackson's...
Persistent link: https://www.econbiz.de/10005813032
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The Legal Road To Replicating Silicon Valley
Armour, John; Cumming, Douglas - ESRC Centre for Business Research - 2004
Must policymakers seeking to replicate the success of Silicon Valley’s venture capital market first replicate other US institutions, such as deep and liquid stock markets? Or can legal reforms alone make a significant difference? In this paper, we compare the economic and legal determinants of...
Persistent link: https://www.econbiz.de/10005813038
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Reforming The Governance Of Corporate Rescue: The Enterprise Act 2002
Armour, John; Mokal, Rizwaan Jameel - ESRC Centre for Business Research - 2004
company rescue and to produce better returns for creditors as a whole’. Administrative receivership, which placed control of … office owes duties to all creditors and must act in accordance with a statutory hierarchy of objectives. In this article, we …
Persistent link: https://www.econbiz.de/10005813052
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Law and Financial Development: What we are learning from time-series evidence
Armour, J.; Deakin, S.; Mollica, V.; Siems, M.M. - ESRC Centre for Business Research - 2010
reviewed here and is shown to cast new light on some of the central claims of legal origins theory. Legal origins are shown to …
Persistent link: https://www.econbiz.de/10010614655
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Rethinking Receivership
Armour, John; Frisby, Sandra - ESRC Centre for Business Research - 2000
A popular perception is that administrative receivers and their appointors hold 'too much' power in relation to troubled companies. Consideration of this issue is timely, because insolvency law is currently under review. We argue although the law's formal structure is imbalanced, this can...
Persistent link: https://www.econbiz.de/10005687971
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The costs and benefits of secured creditor control in bankruptcy: Evidence from the UK
Armour, John; Hsu, Audrey; Walters, Adrian - ESRC Centre for Business Research - 2006
single lender. Detractors point to the costs imposed on other creditors by a senior claimant's inadequate incentives to … bankruptcy law permitted firms to give complete ex post control to secured creditors, through a procedure known as Receivership … unsecured creditors to the governance of bankrupt firms, through a combination of voting rights and fiduciary duties. We present …
Persistent link: https://www.econbiz.de/10005688015
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Enhancing Corporate Governance for Financial Institutions: The Role of International Standards
Alexander, Kern; Dhumale, Rahul - ESRC Centre for Business Research - 2001
The threat of systemic risk in international financial markets necessitates the establishment of universal standards for corporate governance of financial institutions. This paper addresses some important issues and concepts in the governance of multinational financial institutions and why...
Persistent link: https://www.econbiz.de/10005162857
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Shareholder Primacy and the Trajectory of UK Corporate Governance
Armour, John; Deakin, Simon; Konzelmann, Suzanne J. - ESRC Centre for Business Research - 2003
Core institutions of UK corporate governance, in particular those relating to takeovers, board structure and directors’ duties, are strongly orientated towards a norm of shareholder primacy. Beyond the core, in particular at the intersection of insolvency and employment law, stakeholder...
Persistent link: https://www.econbiz.de/10005687992
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The Law and Economics Debate about Secured Lending: Lessons for European LawMaking?
Armour, John - ESRC Centre for Business Research - 2008
creditors; and (iv) the mechanisms employed to assist third parties in discovering that security has been granted. In each case …
Persistent link: https://www.econbiz.de/10005688000