Practitioners and academics have long assumed that financial markets value the deal-specific legal terms of public company acquisition agreements, yet legal scholarship has failed to subject this premise to empirical scrutiny. The conventional wisdom is that markets must value the tremendous...

The economic crisis has fueled the debate on regulated state insolvencies. And while debt relief is being considered for nations, in some European countries consumers live their whole lives in debt as there is no consumer bankruptcy process which provides for an exemption from residual debt....