The paper analyses a strategy for avoiding the disclosure of the financial statements of a limited partnership with a limited liability company as general partner (GmbH & Co. KG) according to German Commercial Code (HGB). It describes the formal process of the joining of a natural person as an...

In August 2007 the United Kingdom experienced its first bank run in over 140 years. Although Northern Rock was not a particularly large bank (it was at the time ranked 7th in terms of assets) it was nevertheless a significant retail bank and a substantial mortgage lender. In fact, ten years...

In this paper, we examine the inconclusive debate on regulatory competition in Europe. We demonstrate that the recent expansion in the EU company law has created archetypal underpinning for formation of regulatory competition: the ground-breaking triptych of the ECJ on Centros, Überseering, and...

What legal, political and economic institutions are shaping privatisations processes in the world? This paper addresses the issue presenting new evidence for a sample of 49 countries. From an empirical analysis for the period 1977-1996, the decision to privatise appears to be related to...

This paper investigates the implications of the fair value protections contemplated by the standard corporate contract (i.e., the standard contract form for which corporate law provides) for the entrepreneur-venture capitalist relationship, focusing, in particular, on unavoidable...

The traditional argument that shorter product cycles favor trade secret over patenting is reviewed. A game theoretic model provides an argument that shorter product cycles can induce firms to file more patent applications. The firms may be trapped in a prisoners' dilemma where all firms would...