The prevailing land use regulation and land tax laws in the United States make the Kelo v. City of New London case and the use of eminent domain for private development particularly dramatic, especially as compared to other countries. We propose a novel solution for quot;squaring the eminent...

Property law today faces what may be its greatest challenge ever: changing from a domestic legal institution into one that accommodates globalization. Central to this trend are bilateral investment treaties (BITs), which seem to offer an optimal solution for the protection of foreign...

We present evidence on the way personal and institutional factors could together guide public company directors in decision-making concerning shareholders and stakeholders. In a sample comprising more than nine hundred directors originating from over fifty countries and serving in firms from...

This entry for the Encyclopedia of Financial Globalization provides an introduction to corporate governance as the institutional framework that regulates the division and exercise of power in the corporation. Following an overview of basic concepts like power, agency, and the nature of the firm,...

This study identifies how country differences on a key cultural dimension - egalitarianism - influence the direction of different types of international investment flows. A society's cultural orientation toward egalitarianism is manifested by intolerance for abuses of market and political power...

This study investigates how directors make decisions that involve shareholders and other stakeholders. Using vignettes derived from seminal court cases, we construct an index of directors' shareholderism as a general orientation on this issue. In a survey of the entire population of directors...

This study investigates how personal values may affect strategic decisions of board members in dilemmas involving shareholders and other stakeholders. In a survey of the entire population of directors and CEOs in all public corporations in one country, we use vignettes that are based on seminal...

This article advances a new framework for investigating a simple yet fundamental question: In what ways does the law on the books reflect cultural values? We analyze relations between indices of investors' legal rights - as coded by La Porta et al. (LLSV) - and national cultural profiles. These...

This paper considers the extent to which countries or companies can successfully borrow foreign corporate governance elements with a view to improving their own governance system. Companies in particular theoretically can rent other countries' governance system through cross-listing. At bottom,...

How should national securities regulators respond to the growing trend of foreign listing and cross-border trading of stocks? This Article argues that regulatory concern and cooperation are warranted in light of the potential for opportunistic behavior by corporate managers and holders of...