Enforcement action by the Securities and Exchange Commission in the years following its formation and prior to the beginning of World War II created reporting sanctions viewed as symbolic by much of corporate America. That is, powerful chief executive officers of many of America’s giant...

The aim of this paper is to bring into attention the creative accounting phenomenon. Typesof creative accounting practices has been examined comparing scandals occurred in large companiesin the last two decades. In order to realize this scope we define the concept of creative accounting andits...

Shock wave produced by the financial crisis started from the "heart of world finance” - United States of America, suddenly hit the European Union economy and finance, especially strong states. Recent studies conducted on the economies of EU highlighted serious problems in functioning and...

The collateral source rule is a common law norm that permits recovery of accident-related damages from both the victim’s insurer and the injurer. Many jurisdictions have modified the rule through statutory reform during the last twenty-five years. Forensic economists in assessing damages need...

According to Posnerian law and economics, common law (i.e., judge-made law) tends to promote efficiency. Public choice teaches that statutory (legislated) law need have no such efficiency property because, unlike appointed judges, legislators are subject to short election cycles and are beholden...

In this article we apply and extend the model elaborated by Acemoglu and Verdier in their seminal paper (2000), to examine how the economy represented in their theoretical framework responds to an exogenous change in the agent's incentive. In particular, we focus on the consequences of a famous...