This study examines managerial disciplining in poorly performing firms using large panels for Belgian, French, German and UK firms. We consider the monitoring role of large blockholders, the market for share blocks, creditors, and non-executive directors. Board restructuring is correlated to...

In recent years, "public interest law" (PIL) has become a frequent component in conversations about law and policy around the globe. While this worldwide manifestation of a professional and political script that thus far seemed to be typically so American suggests a remarkable process of...