Since the global financial crisis of 2007, regulators and economists have analysed the moral hazards inherent in institutional arrangements which encouraged economic actors to act irresponsibly. The process of institutional reform must extend to review of legal rules which allow transacting...

Data mining techniques can be used to locate statistical outliers that are incorrectly characterized as evidence of unlawful conduct. Using home mortgage loan data made publicly available by financial regulators, a simple data mining exercise finds that approximately three percent of all...

The conventional wisdom is that property rules induce more (and more efficient) contracting, and that when faced with rigid property rules, intellectual property owners will contract into more flexible liability rules. A series of recent, private copyright deals show some intellectual property...

Agency law provides a set of rules that allow business relationships to flourish. Without agency law, business relationships would be exposed to problems arising from asymmetric information that would inevitably be used to the detriment of the less knowledgeable party. This paper discusses the...

In dit artikel bespreekt de auteur het finaal verrekeningsbeding. Zowel de verbintenisrechtelijke als de fiscaalrechtelijke aspecten komen aan bod. The author of this article discusses participation clauses in marital contracts. Both the aspects of the law of obligations and tax law are treated

This conference paper suggests that the problem of corporate ethics cannot be reduced to the autonomous person. Although the greatest influence on action and choice is one's moral constitution, it does not follow that the agent's behavior is the same within or without the firm. Ethics is a...

This paper seeks to devise a theoretical explanation for recent disputes over the construction of an outlet from Devils Lake, North Dakota, in a way that affords a predictive framework for future international environmental law issues. Opponents of the outlet alleged it would violate U.S....

Corporate scandals, reflected in excessive management compensation and fraudulent accounts, cause considerable damage. Agency theory's insistence on linking the compensation of managers and directors as closely as possible to firm performance is a major reason for these scandals. They cannot be...

This paper argues that academics, politicians, and the media have six commonly held but misguided beliefs about corporate governance. While Armstrong, Guay, and Weber (2010) discuss some of these misconceptions, a wider recognition that these beliefs are actually “myths” is important. They...

We formalize a conception of authority, which is commonly defined as the right of controlling a person's actions embedded in human assets in sociology. Due to the inalienable property of human assets, the contractible formal authority is hard to verify and enforce, while real authority usually...