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This study of initial public offerings (IPOs) carried out on the Berlin and London stock exchanges between 1900 and 1913 casts doubt on the received "law and finance" wisdom that legally mandated investor protection is pivotal to the development of capital markets. IPOs that resulted in official...
Persistent link: https://www.econbiz.de/10009232393
We revisit debates on the regulation of IPOs by analyzing failure rates of IPOs carried out between 1900 and 1913 on the London and Berlin stock exchanges, two of the leading financial markets during the early 20th century. IPOs were regulated more heavily in Germany than in Britain and, as...
Persistent link: https://www.econbiz.de/10013114440
This study of initial public offerings (IPOs) carried out on the Berlin and London stock exchanges between 1900 and 1913 casts doubt on the received law and finance wisdom that legally mandated investor protection is pivotal to the development of capital markets. IPOs that resulted in official...
Persistent link: https://www.econbiz.de/10010286711
, Italy and Poland) as well as two smaller Member States (Finland and Latvia). In addition, the laws of two of the world …
Persistent link: https://www.econbiz.de/10013086789
In the UK, in contrast to most other countries, a hallmark of corporate governance is a separation of ownership and control. There is evidence suggesting that this pattern may have been the norm in Britain as far back as the late 19th century. This paper investigates the extent to which law, in...
Persistent link: https://www.econbiz.de/10014168357
Before deciding on operations involving share issuance or sale, companies or shareholders may seek to disclose information to selected investors, in order to gauge their opinion on the envisaged market operation. Such ‘market soundings' risk violating the prohibition of insider trading and yet...
Persistent link: https://www.econbiz.de/10012950706
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Persistent link: https://www.econbiz.de/10009782965
Persistent link: https://www.econbiz.de/10009520605
liability rules. Traditional compulsory licenses are compared with the most recent discussions on the choice between granting or … denying injunctive relief for patents (ex post liability rules). The debate about strategic behaviour triggered by the patent … important critiques against the use of liability rules in patent law, is also examined in depth. The book concludes by …
Persistent link: https://www.econbiz.de/10013008056