The organizational literature on emerging industries has emphasized the need for institutional entrepreneurs - actors who give the new activity legitimacy and determine its patterns of behaviour. However, little empirical research has been carried out on the strategies that institutional...

Having been introduced in the European Union and in many other countries, the equal opportunity rule is seen as protecting investors in the event of a transfer of control. This rule should be analyzed in a context of appropriation of private benefits between the new controlling shareholders and...

In this paper, we develop a contingent claim analysis on shareholders' right to sell unconditionally their shares at the acquisition bid price during a takeover bid procedure. Compared with a situation without any guarantee, this regulation brings about wealth transfer towards outside...

Digital Technologies make it possible to decentrally settle institutional frameworks based on self-implementation of exclusive rights of use over information and on the self-regulation of on-line communities. Through a decentralized system of IPRs and collective rules setting of this kind agents...