This paper, which has been prepared for the conference on Economic Governance and Competition at Tilburg University, examines private ordering within the payment card industry to define appropriate security practices and to monitor compliance by network participants. This private ordering regime...

Whereas the EU's internal market rules govern market access and public intervention, its competition rules are concerned with the market conduct of private parties. When do the competition rules apply to healthcare? In principle the scope for application of the competition rules to the...

National regulatory authorities (NRAs) play a key role in supervising and regulating competition in the energy markets and for realizing the transition to a low carbon energy system in the European Energy Union. They have to ensure that energy (service) markets can develop and that consumers can...

Firms' innovative activities can be sensitive to public policies that affect the availability of capital for risky projects. In this paper, we investigate the effects of regional and temporal variation in U.S. personal bankruptcy laws on firms' innovative activities. We find bankruptcy laws that...

Does the Takeover Bids Directive need revision? The answer to this question will most likely affect the Commission's assessment of the Directive in 2011 and could initiate its revision. Proponents of such a revision urge the Commission to redress the shortcomings of the Directive's...

This paper is a contribution to the 2nd edition of Craig and de Búrca, The Evolution of EU Law. It highlights key trends in EU law in the last ten to fifteen years, as regards the regulation of network industries and of services of general economic interest (SGEIs) more generally. Our central...

In March 2014, the OECD issued a report in which it indicated that the Netherlands “has an excellent track record on water management in several areas” The OECD mentions for example that the Netherlands has developed a “strong economy and robust water industry”, this despite that 55% of...

Consistency is a legal requirement that is imposed by the Court of Justice on national claims to an objective justification of barriers to free movement that are based on public policy. As this requirement is seemingly used more frequently, it may be developing into a principle of EU law as...

In this study, we analyze two new potential determinants for mitigating fraud committed by firms: institutional investors and political connection. The role of institutional investors in the effective monitoring of firm management has also been well established and we in turn observe that firms...

This paper is a comment on Ronald Gilson and Alan Schwarz “Constraints on Private Benefits of Control: Ex Ante Control Mechanisms versus Ex Post Transaction Review”. Together with that paper it will appear in the Journal of Institutional and Theoretical Economics 169 (1) in 2013, in a...