Throughout the world, private firms are recommended to adopt the same corporate governance rules that are mandatory for public firms. It is unclear, however, whether the high costs associated with such voluntary adoption of corporate governance rules by private firms are justified. A precedent...

It was Robert Nozick who, distinguishing the classical Liberal ‘night-watchman state' which protected citizens against violence and enforced contracts on their behalf, conjured instead the ‘ultraminimal state' in which the task of the state is confined to the monopolisation of violence...

This Article examines the development of a European framework for considering the law applicable to state private interventions in the market, both their own and those of other states through direct investment or through sovereign wealth funds. For this purpose, it closely analyzes the so-called...