What is the optimal form of corporate governance during court supervised attempts to reorganize and restructure a financially distressed firm? Corporate bankruptcy scholarship has contemplated this normative query against the backdrop of two prevailing models: the American Debtor-In-Possession...

This volume addresses a variety of topics where economic concepts are intertwined with important legal and policy issues in North America and Europe. Five articles involve analyses of competition issues, including economic plus factors in price fixing cases, the impact of refusals to deal on...

This paper calculates an implied cost of equity for 19 developed countries from 1991 to 2006. During this period, there has been a decline in the cost of equity of about 10-15 bps per year, which can be partially attributed to declining government yields and declining inflation. Analyst forecast...

Using data from financial reorganization plans filed by insolvent Canadian firms, we estimate the discount rate implicit in the unsecured creditor's reorganization decision. Using (HARA) utility functions, we find the implicit monthly discount rate of creditors to be 4.9%, which corresponds to...

In 2009, the Australian, Brazilian and UK parliaments faced strong criticism - to say the least - over the issue of parliamentarians' expenses. The uncovering of widespread misuses of public resources by parliamentarians in each of these three countries was the subject of intense media and...