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Regulatory Competition and the Market for Corporate Law
Eldar, Ofer; Magnolfi, Lorenzo - 2020
This article develops an empirical model of firms’ choice of corporate laws under inertia. Delaware dominates the incorporation market, though recently Nevada, a state whose laws are highly protective of managers, has acquired a sizable market share. Using a database of firm incorporation...
Persistent link: https://www.econbiz.de/10014132012
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The effect of minority veto rights on controller tunneling
Fried, Jesse M.; Kamar, Ehud; Yāfe, Yišay - 2018
A central challenge in the regulation of controlled firms is curbing rent extraction by controllers. As independent directors and fiduciary duties are often insufficient, some jurisdictions give minority shareholders veto rights over related-party transactions. To assess these rights'...
Persistent link: https://www.econbiz.de/10011810919
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The Company Law and Foreign Investment Enterprises in the People’s Republic of China : Parallel Systems of Chinese-Foreign Regulation
Bath, Vivienne - 2009
Chinese law relating to companies and corporate regulation has developed significantly since Chinese-foreign joint ventures were first permitted in 1979. For foreign investors, however, changes and improvements in the Company Law regime, have not necessarily improved their position. Despite...
Persistent link: https://www.econbiz.de/10014207650
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The Evolution of Corporate Law in Canada : Towards Regulatory Competition?
Rousseau, Stephane - 2016
The impact of regulatory competition on the evolution of corporate law has generated an intense and long lasting debate … competition. Indeed, harmonization -- if not uniformization -- has been the driving force of corporate law in Canada for much of … the last century. However, the tide has been shifting over the last five years. Regulatory competition is starting to …
Persistent link: https://www.econbiz.de/10012996470
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Regulatory Sanctions and Reputational Damage in Financial Markets
Armour, John - 2018
We study the impact of the enforcement of financial regulation by the UK's regulatory authorities on the market price of penalized firms. Existing studies rely on analyses of multiple events that may distort the measurement of reputational losses. In the UK, the entire enforcement process...
Persistent link: https://www.econbiz.de/10012940584
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On the Recurring Circularity of Corporate Law and Regulation : How Proposed Changes to Corporate Law and Regulation Take Us Back to Where We Started
2016
Corporate law and regulation always arrives at the same place but where that is depends on where it started. The global financial crisis created shared concerns in western jurisdictions about fundamental principles used to regulate companies and financial markets. Initial reactions saw a retreat...
Persistent link: https://www.econbiz.de/10013000155
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Regulatory Competition and Freedom of Contract in U.S. Corporate Law
Ventoruzzo, Marco - 2018
The real dynamics of U.S. regulatory competition in corporate law are often misunderstood. As convincingly demonstrated … this "competition" based also on empirical evidence, I examine some recent reforms of the Delaware General Corporation Act … offer some implications for the also peculiar type of regulatory competition emerging in Europe, and indicate some …
Persistent link: https://www.econbiz.de/10012936168
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The Dialectical Regulation of Rule 14a-8 : Intersystemic Governance in Corporate Law
Ahdieh, Robert B. - 2012
In recent years, Rule 14a-8 of the Securities Exchange Act - first adopted more than sixty years ago to increase shareholder participation in corporate governance - has been the subject of a flurry of litigation, scholarly analysis, and SEC rulemaking. Most recently, following several years of...
Persistent link: https://www.econbiz.de/10014218786
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The Regulation of Close Corporations in Danish Company Law in an International Regulatory Context
Neville, Mette - 2015
In recent years Denmark has carried out a number of company law reforms and, as with the reforms in many other countries, these reforms have been focused on creating better conditions for the conduct of business, including for SMEs and entrepreneurs. The aim of the major Danish reform of company...
Persistent link: https://www.econbiz.de/10014144278
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The Regulation of LBOs under English and Italian Company Laws
Giannino, Michele - 2009
This paper carries out a comparative analysis of the regulatory framework for leveraged buy-out operations (LBO) under the English Company Act and the Italian Civil Code. The 2003 Act has made and the 2006 Company Law Reform will make significant amendments to Italian and English company laws...
Persistent link: https://www.econbiz.de/10013157118