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Crowdfunding, a new Internet-based securities market, was recently authorized by federal and state law in order to create a vibrant, diverse, and inclusive system of entrepreneurial finance. But will people really send their money to strangers on the Internet in exchange for unregistered...
Persistent link: https://www.econbiz.de/10013009706
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Pragmatic and effective research on corporate governance often turns critically on appreciating the legal institutions surrounding corporate entities—yet such nuances are often unfamiliar or poorly specified to economists and other social scientists without legal training. This chapter...
Persistent link: https://www.econbiz.de/10014023367
‘Shareholder rights' are the legal entitlements of shareholders via-a-vis companies in which they invest. A large body of research has sought to investigate how shareholder rights foster accountability of controllers. The concern has been that without accountability, managers and dominant...
Persistent link: https://www.econbiz.de/10012842156
Corporate law in advanced domestic legal systems on the one hand, and typical treaties for the protection of foreign investment on the other hand, treat claims for damages by company shareholders differently. Advanced domestic systems generally bar shareholders from claiming for reflective loss...
Persistent link: https://www.econbiz.de/10010463416
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Advanced systems of domestic corporate law generally apply a “no reflective loss” principle to shareholder claims. Shareholder claims are permitted for direct injury to shareholder rights (such as voting rights). But shareholders generally cannot bring claims for reflective loss incurred as...
Persistent link: https://www.econbiz.de/10010463415
This paper examines whether -- in the absence of mandated disclosure requirements -- shareholder activism can elicit … greater disclosure of firms' exposure to climate change risks. We find that environmental shareholder activism increases the … voluntary disclosure of climate change risks, especially if initiated by institutional investors, and even more so if initiated …
Persistent link: https://www.econbiz.de/10012174566
Currently, there is much debate about the role that non-investor stakeholder interests play in the governance of public companies. Critics argue that greater attention should be paid to the interest of stakeholders and that by investing in initiatives and programs to promote their interests,...
Persistent link: https://www.econbiz.de/10012244406
This paper uses a unique US dataset to analyze the demand for Directors' and Officers' liability insurance. This insurance protects managers mostly from shareholder litigation. Corporate insurance presents a much different environment than individual insurance and calls for in-depth empirical...
Persistent link: https://www.econbiz.de/10011568692