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The Importance of 'The Law of Conservation of Securities' : A Reply to John P. Anderson's 'What's the Harm in Issuer-Licensed Insider Trading?'
Wang, William K. S. - 2015
Professor John P. Anderson's article, What's the Harm in Issuer-Licensed Insider Trading?, argues that my “Law of Conservation of Securities” has no moral relevance to the question whether to allow such trading.The Law of Conservation of Securities demonstrates that each stock market insider...
Persistent link: https://www.econbiz.de/10013015582
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The positive economics of corporatism and corporate governance
Fehn, Rainer; Meier, Carsten-Patrick - 2000
This paper presents a positive model which shows that institutional setups on capital and labor markets might be intertwined by politicoeconomic forces. Two politicoeconomic equilibria arise from our model, one with little protection of insiders on capital and labor markets, and another one with...
Persistent link: https://www.econbiz.de/10011477241
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The positive economics of corporatism and corporate governance
Fehn, Rainer; Meier, Carsten-Patrick - 2000
This paper presents a positive model which shows that institutional setups on capital and labor markets might be intertwined by politicoeconomic forces. Two politicoeconomic equilibria arise from our model, one with little protection of insiders on capital and labor markets, and another one with...
Persistent link: https://www.econbiz.de/10010265445
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The positive economics of labor market rigidities and investor protection
Fehn, Rainer; Meier, Carsten-Patrick - 2001
This paper presents a positive model which shows that institutional setups on capital and labor markets might be intertwined by politicoeconomic forces. Some countries especially in continental Europe exhibit a corporatist politicoeconomic equilibrium with a sustantial protection of insiders on...
Persistent link: https://www.econbiz.de/10010316080
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Centro and the Monitoring Board – Legal Duties Versus Aspirational Ideals in Corporate Governance
Hill, Jennifer G. - 2020
Pothers about liability risks for company directors and officers are nothing new in corporate law. The global financial crisis, however, created a unique and unfamiliar commercial matrix in which such concerns were played out. Although Australia fared better than many jurisdictions during the...
Persistent link: https://www.econbiz.de/10012857195
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Convergence and Persistence in Corporate Law and Governance
Gordon, Jeffrey N. - 2017
This paper, which will be the basis for a chapter in the forthcoming OXFORD HANDBOOK OF CORPORATE LAW AND GOVERNANCE (Jeffrey Gordon and Georg Ringe, eds.), surveys the extent of convergence in corporate law and governance over the past 15 years. The paper assesses the efforts to measure...
Persistent link: https://www.econbiz.de/10012947601
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Convergence and Persistence in Corporate Law and Governance
Gordon, Jeffrey N. - 2017
This paper, which will be the basis for a chapter in the forthcoming Oxford Handbook of Corporate Law and Governance (Jeffrey Gordon and Georg Ringe, eds.), surveys the extent of convergence in corporate law and governance over the past 15 years. The paper assesses the efforts to measure...
Persistent link: https://www.econbiz.de/10012947800
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Political Economy of Privatized Economy
Megginson, William L. - 2010
Recent evidences indicate that privatization leads to enormous benefits to society almost without undesirable costs …. However, stakeholders of privatization seem not to satisfy the resulting performance of privatized firms. Using data from 202 … companies up to 10 years and study costs and benefits of privatization. Privatization is followed by a 1.1-percentage …
Persistent link: https://www.econbiz.de/10013146701
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Civil Liability of Rating Agencies - Regulatory All-or-Nothing Approaches between Immunity and Over-Deterrence
Haar, Brigitte - 2013
Civil liability of rating agencies has to strike a balance between over-deterrence and overly lax behavior control. The resulting problems of a capital market freeze and difficulties of proof, as they become apparent in most legal systems and the European Commission's Draft Proposal to amend the...
Persistent link: https://www.econbiz.de/10013088984
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Epidemics of 'Control Fraud' Lead to Recurrent, Intensifying Bubbles and Crises
Black, William K. - 2010
“Control frauds” are seemingly legitimate entities controlled by persons that use them as a fraud “weapon.” A single control fraud can cause greater losses than all other forms of property crime combined. This article addresses the role of control fraud in financial crises. Financial...
Persistent link: https://www.econbiz.de/10013144767