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Does the Evidence Favor State Competition in Corporate Law?

Bebchuk, Lucian - 2002

In the ongoing debate on state competition over corporate charters, supporters of state competition have long claimed that the empirical evidence clearly supports their view. This paper suggests that the body of empirical evidence on which supporters of state competition have relied does not...

Persistent link: https://www.econbiz.de/10012469323

Firms' Decisions Where to Incorporate

Bebchuk, Lucian - 2002

, and takeover law …

Persistent link: https://www.econbiz.de/10012469604

A New Approach to Takeover Law and Regulatory Competition

Bebchuk, Lucian Arye - 2001

The development of U.S. state takeover law in the past three decades has produced considerable and quite possibly … excessive protection for incumbent managers from hostile takeovers. Although the shortcomings of state takeover law have been … produce even worse takeover arrangements. This paper puts forward a novel form of federal intervention in the regulation of …

Persistent link: https://www.econbiz.de/10012470578

Federalism and Takeover Law : The Race to Protect Managers from Takeovers

Bebchuk, Lucian Arye - 2000

state takeover law, we argue, is consistent with our theory. States have adopted antitakeover statutes that have little … competition cannot reconcile their views with the evolution of state takeover law---and should therefore reconsider their …

Persistent link: https://www.econbiz.de/10012471028

Speculative Trading and Stock Prices : Evidence from Chinese A-B Share Premia

Mei, Jianping - 2005

The market dynamics of technology stocks in the late nineties has stimulated a growing body of theories that analyze the joint effects of short-sales constraints and heterogeneous beliefs on stock prices and trading volume. This paper examines implications of these theories using a unique data...

Persistent link: https://www.econbiz.de/10012467321

Counterparty Risk and the Establishment of the New York Stock Exchange Clearinghouse

Bernstein, Asaf - 2014

Heightened counterparty risk during the recent financial crisis has raised questions about the role clearinghouses play in global financial stability. Empirical identification of the effect of centralized clearing on counterparty risk is challenging because of the co-incidence of macro-economic...

Persistent link: https://www.econbiz.de/10012458209

Opting Out of Good Governance

Foley, C. Fritz - 2014

Cross-listing on a U.S. exchange does not bond foreign firms to follow the corporate governance rules of that exchange. Hand-collected data show that 80% of cross-listed firms opt out of at least one exchange governance rule, instead committing to observe the rules of their home country....

Persistent link: https://www.econbiz.de/10012458711

Do Borrower Rights Improve Borrower Outcomes? Evidence from the Foreclosure Process

Gerardi, Kristopher - 2011

We evaluate laws designed to protect borrowers from foreclosure. We find that these laws delay but do not prevent foreclosures. We first compare states that require lenders to seek judicial permission to foreclose with states that do not. Borrowers in judicial states are no more likely to cure...

Persistent link: https://www.econbiz.de/10012460991

Why do Foreigners Invest in the United States?

Forbes, Kristin J. - 2008

Why are foreigners willing to invest almost $2 trillion per year in the United States? The answer affects if the existing pattern of global imbalances can persist and if the United States can continue to finance its current account deficit without a major change in asset prices and returns. This...

Persistent link: https://www.econbiz.de/10012464739

Accounting for the Rise in Consumer Bankruptcies

Livshits, Igor - 2007

Personal bankruptcies in the United States have increased dramatically, rising from 1.4 per thousand working age population in 1970 to 8.5 in 2002. We use a heterogeneous agent life-cycle model with competitive financial intermediaries who can observe households' earnings, age and current asset...

Persistent link: https://www.econbiz.de/10012465287