Legal origins theory suggests that law reform,strengthening shareholder and creditor rights, should enhance financial development. We use recently created datasets measuring legal change over time in a sample of 25 developing, developed and transition countries to test this claim. We find that...

In September 1985, Brazil enacted a new Cheques Act. It is based on the Uniform Law on Cheques, pursuant to the Geneva conventions of 1930-31. This codification is of practical interest for commercial and financial transactions with Brazil since it puts an end to a period of uncertainty as to...

The corporate bankruptcies legal frameworks and their economic implications are compared for two pairs of post-communist countries (Czech Republic and Slovakia and Croatia and Serbia) originating from common federative republics. Their process of gradual divergence from the common legal and...

The object of this chapter is to explain the decline of the law of contract in matter of bankruptcy. The historical evolution of the law of bankruptcy shows that this decline is gone by three phases : the phase of the natural law based on the nature to solve the conflict ; the phase of the...

This main sections of this annotated bibliography were prepared by the author between 1998 and 2002. The revisions undertaken until January 2006 are selective and do not claim to be complete. The paper has no official character and merely reflects the views of the author. Its purpose is to...

In this article, we develop the various theories which explain the determinants of the bankruptcy of the entrepreneur and the justifications of law to allocate this risk. We distinguish the theories from impulsive behavior or irrationality, the bad luck and the capacity to evaluate the risk of...

Insiders of Canadian reporting issuers are required to file public reports when they acquire, buy, or sell securities of that reporting issuer. These public reports must be filed using a prescribed form and must be filed within a specific time frame. Failure to file these public reports or...

In India companies with substantial foreign direct investment can register as private companies irrespective of the size of their operation whether in India or abroad. Under the Indian company law private companies can prevent public access to certain critical information on their operations....

The theoretical literature on the modes of the default and its implications on the rate of the default distinguishes two rules: the rule of the discharge allowing to exempt the debtor in case of failure and the rule of obligation of repayment of the debts by the debtor. Several theoretical...

We intend to reveal the causes and the determinants of the omitted shareholder proposals. We find that individual investors are mostly likely to submit a proposal being excluded from the proxy ballot. Since individual investors are not so skillful as institutional investors, we summarize that...