Ownership structures widely differ across the EU. While large blockholdings dominate in the banking sector in Continental Europe, ownership is widely dispersed in the United Kingdom. These differences have consequences for corporate governance in the EU banking sector. This paper analyzes the...

Ownership structures widely differ across the EU. While large blockholdings dominate in the banking sector in Continental Europe, ownership is widely dispersed in the United Kingdom. These differences have consequences for corporate governance in the EU banking sector. This paper analyzes the...

My study examines how institutional features of transition economies, i.e., goverment ownership, legal investor protection, and government regulation distort the choice of directors, and the firm value impact of independent director and political-connected director in China. We find that SOEs...

Small corporations are the engine room whilst the forgotten corner of the Australian economy. Regulatory burdens are hampering the small corporations from performing to their optimal, which consequently impairs the economic growth of the nation. For policy decision makers, quantifying the...

In the 1990s, European merger regulation (EMR) was biased against foreign acquirers, especially if the deal harmed domestic rivals (i.e., protectionism). In 2002, the Court of First Instance overturned three prohibitions by the European Commission (EC) and criticized its economic analysis. These...

In tribute to the lifetime achievements of Dr. Thomas S. Ulen, this Article addresses the topic of the future of law and finance within the broader context of the future of law and economics. After highlighting some of the differences between the U.S. and European approaches to law and finance,...

One of the main goals of the Sarbanes Oxley Act of 2002 (SOX) is to ensure a greater flow of timely and accurate accounting information to investors. While there has been a lot of criticism of SOX, mostly with regard to compliance costs, very little light has been shed on the impact of SOX on...

The executive remuneration system in the financial sector requires significant improvements to increase disclosure and more closely converge shareholders' and depositors' interests. Executive remuneration practices have, therefore, been under review since the financial crisis of 2008. The...

We examine the political dynamics which led to the codification of the Principles and Standards for sound compensation practices at financial institutions at international (G 20) level and to their subsequent implementation on both sides of the Atlantic. We show that the regulation of bankers'...