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Regulatory Competition and the Market for Corporate Law

Eldar, Ofer; Magnolfi, Lorenzo - 2020

This article develops an empirical model of firms’ choice of corporate laws under inertia. Delaware dominates the incorporation market, though recently Nevada, a state whose laws are highly protective of managers, has acquired a sizable market share. Using a database of firm incorporation...

Persistent link: https://www.econbiz.de/10014132012

Financial distress as an agency problem : evidence on non-monotonic and substitute discipline effects of leverage and competition

Uğur, Mehmet; Solomon, Edna Maeyen; Zeynalov, Ayaz - 2021

This paper addresses two issues encountered in the empirical financial distress literature: a-theoretical treatment of leverage and product-market competition as predictors of financial distress hazard; and lack of attention to frailty as a potential source of bias in reported estimates. We...

Persistent link: https://www.econbiz.de/10014533532

Innovation Competition, Unilateral Effects and Merger Policy

Petit, Nicolas - 2020

post-merger R&D efforts (including lower expenditure). SIEIC is distinct from the mainstream unilateral effects theory of … analysis lies a fundamental question of competition theory: under what conditions can variations of existing economic models be … applied in merger cases? This paper is divided into three sections. In Section I, the SIEIC theory of harm is described and …

Persistent link: https://www.econbiz.de/10012852989

Beyond Competition for Incorporations

Kamar, Ehud - 2006

This Article documents and analyzes a powerful form of regulatory competition - competition for investments - that has transformed national corporate laws in the European Union in recent years. Unlike competition for incorporations, competition for investments shapes corporate law when firms...

Persistent link: https://www.econbiz.de/10012732934

Leveraging Corporate Law : A Broader Account of Delaware's Competition

Bruner, Christopher M. - 2020

Persistent link: https://www.econbiz.de/10012842506

Jurisdictional Competition for Corporate Charters and Firm Value : A Reexamination of the Delaware Effect

Anderson, Anne M. - 2017

In this paper, we analyze the Delaware incorporation effect on firm value to determine if the positive association found by Daines (2001) still holds. Analyzing a sample from 1997 to 2013, we find that the relationship between Delaware incorporation and firm value is no longer positive, as found...

Persistent link: https://www.econbiz.de/10012946695