The institutional design of federal merger review in the United States leads to systematic underenforcement of merger law. This is so even though substantive merger law is relatively well settled, most mergers are not anticompetitive, and the review process properly permits them to proceed...

By reference to case-law and soft law in three jurisdictions (Canada, US and EU), this paper explores how courts and agencies carry out balancing exercises in the application of competition law. The paper identifies three approaches: utilitarian balancing, consumer welfare balancing, and...

The purpose of this paper is to describe the institutions of antitrust enforcement in the United States and to test those institutions against a set of norms used to assess the operations of administrative agencies. The paper is part of a broader project studying global administrative agencies....

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...

The article explores the key factors that make the securities criminal law of the United States (US), as one of the integral building blocks of the capital markets and securities regulatory system, efficient. This includes the role and characteristics of sectoral (blanket) all-embracing...

Fiduciary duties are often today held out as typical instruments of shareholder protection in the common law of both the US and the UK, which are sometimes held out as examples for a consensus model for what is considered good corporate law conducive to good capital market development. However,...