In the aftermath of an array of economic failures, there is a growing movement to reform executive compensation. Concerned that executive compensation structures reward inappropriate risk taking and create a short-term perspective, the United States and the European Union are taking steps to...

This paper contrasts UK and US governance of M&A break fees to see what the contrast can teach us about trade-offs between litigation and regulation as modes of governance, including how laws change under each regime over time. Data on 1,136 bids in 1989-2008 and 61 fee disputes show: (1) the UK...

The protection afforded to franchisees differs widely across the world. Nations with economically strong franchise sectors typically regulate the contract’s bargaining phase and post-formation. Responding to the European Parliament’s call for a review of regulations governing Europe’s...

Over the last 23 years, the U.S. Securities and Exchange Commission has required over 34,000 companies to file over 165,000 annual reports. These reports, the so-called "Form 10-Ks," contain a characterization of a company's financial performance and its risks, including the regulatory...

Gender diversity in corporate governance is a highly debated issue worldwide. National campaigns such as “2020 Women on Boards” in the United States and “Women on the Board Pledge for Europe” are examples of just two initiatives aimed at increasing female representation in the corporate...

Insider trading, the most conspicuous misbehaviour of the stock market, is additionally one of the most troublesome & difficult one to crack by regulators around the globe. Insider trading is a term dependent upon numerous definitions and meanings and it envelops both lawful and disallowed...

Mainstream policy discussions take as given that the United States will and must pay its debts in full and on time, and that restructuring is legally and politically impossible. In our judgment, this assumption is unwarranted. Far from being unthinkable, under some circumstances restructuring...

The sources of corporate governance law and regulation in the United States are varied and interrelated. Indeed, US corporate governance practices are also heavily influenced by investor and proxy advisory firm pressures, as well as company-specific factors. There are four key sources of legal...

This study contributes to the literature that analyzes the consequences of economic sanctions for the target country’s human rights situation. We offer a political economy explanation for different types of human rights infringements or improvements in reaction to economic shocks caused by...

We use endogenous treatment-regression models to estimate the causal average treatment effect of US economic sanctions on four types of human rights. In contrast to previous studies, we find no support for adverse effects of sanctions on economic rights, political and civil rights, and basic...