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We analyze the consequences of activism in a regulated industry where the regulator has been captured by the industry. Unlike ordinary economic agents, activists are insensitive to monetary incentives. Moreover, they are less well informed than regulators and their actions generate dead-weight...
Persistent link: https://www.econbiz.de/10010199716
sequencing privatisation together with competition, regulation and industry restructuring; the role and importance of an …
Persistent link: https://www.econbiz.de/10012733357
From its inception, the federal securities law regime created and enforced a major divide between public and private capital raising. Firms that chose to “go public” took on substantial disclosure burdens, but in exchange were given the exclusive right to raise capital from the general...
Persistent link: https://www.econbiz.de/10012958861
From European integration to domestic politics to the development of the global economy, technocracy and private ordering have shaped economic behaviour. Such transformative private-driven forces of economic activity flourished through the promulgation of voluntary standards. In view of the...
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This paper studies the interplay of the public-private dichotomy and the externalities argument in the context of … the concept of public and private domains in constitutional law and economics, the private fund regulation will be … systemic externalities. It is argued that due to the interconnectedness of public and private businesses, (systemic …
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