Analyzing typical structure product (SP) by figuring out the underlying assets and pricing them, demonstrates a transfer of wealth from the investors to the issuers. We argue that many SPs currently available to retail investors are designed to exploit several behavioral biases including: loss...

We examine the performance of behavioral biases among professional investors in the case of structured products investment. We outline several key features embedded in various structured products and associate each with specific behavioral bias identified in the literature of decision theory. We...

This research examines the seminal heuristic of anchoring and adjustment and its effects on personal bankruptcy proceedings. Using a unique and detailed database of bankruptcy files we analyze the effect of the official receiver's recommendation on court decisions. The official receiver in...

This Article examines how and why regulating FinTech is different. This question relates to the ongoing debate of whether FinTech is simply “more of the same”—primarily exacerbating existing failures and challenges and hence not requiring new regulations—or a radical transformation that...

Peer-to-peer (P2P) lending, defined broadly as the use of non-bank online platforms that match borrowers with lenders, is arguably one of the most important innovations in the area of alternative finance. It changes the way lenders and borrowers interact, reconstructs the credit market by...

This paper empirically examines the market's reaction to increased corporate governance provisions which were applied to pyramid-structured corporations under the Promotion of Competition and Reduction of Concentration Law. Specifically, the paper examines the influence of legal provisions...

This paper examines the effect of creating a specialised economic court on subsequent litigation rates, forum selection, and court performance. To do so, we utilized a quasi-experimental research design and compared court decisions under two time frames: before and after the reform, and two...

Initial coin offerings (ICOs) are a new form of fundraising whereby blockchain-related ventures raise public capital in exchange for newly issued digital tokens. In recent years, ICOs have been a prominent focus of legal and economic studies, which analyze their characteristics and determinants...

This paper analyzes the legal rules governing the sale of corporate control in the specific case of going private transactions and examines whether a controlling shareholder must share the premium associated with a sale-of-control. The paper is based on the framework developed in Bebchuk (1994)...