The corporate governance literature usually refers to the U.S. enforcement superiority to explain the premium that foreign firms experience when cross-listing in U.S. stock exchanges. This paper casts doubt on this hypothesis by analyzing two comparative case-studies of private and public...

In August 2013, the Court of Appeals for the Second Circuit in the case of United States v. Vilar denied extraterritorial application of the criminal law antifraud provisions contained in the Securities and Exchange Act. The specific object of this paper is to criticize this decision and negate...