Extant research commonly uses indicator variables for industry membership to proxy for securities litigation risk. We provide evidence on the construct validity of this measure by reporting on the predictive ability of alternative models of litigation risk. While the industry measure alone does...

Pragmatic and effective research on corporate governance often turns critically on appreciating the legal institutions surrounding corporate entities—yet such nuances are often unfamiliar or poorly specified to economists and other social scientists without legal training. This chapter...

Witnesses often gain by slanting testimony. Courts try to elicit the truth with perjury rules. Perjury is not truth-revealing; truth revelation is, however, possible. With a truth-revealing mechanism the judge will get little testimony because the defendant will not present witnesses with...

There is extensive literature on whether courts or legislators produce efficient rules, but which of them produces rules efficiently? The law is subject touncertainty ex ante; uncertainty makes the outcomes of trials difficult to predict and deters parties from settling disputes out of court. In...

A reflex of any modern Nation’s wishing to express themselves as a stroke of its socio-economic development is the institutionalization of some legal rules which orders social relationships. This ordination must provide the strength of the social security harmony, the safety that produces the...

If arbitration is to be regarded as a swift dispute resolution instrument, then the difference between the state courts procedure and the arbitral procedure must reside, primarily, in a more effective and speedier way of taking evidence, since taking evidence is the most time consuming of all...

Das deutsche System der industriellen Beziehungen weist im internationalen Vergleich gemeinhin ein hohes Mass an Verrechtlichung auf. Umso ueberraschender ist der Umstand, dass das Recht und seine Akteure, Institutionen und Verfahren in der Forschung ueber Arbeitsbeziehungen seit Jahrzehnten...

Dieser rechtssoziologische Beitrag untersucht den geringen Grad der Inanspruchnahme arbeitsrechtlicher Schutzangebote im Feld der unter- und undokumentierten Beschaeftigung von Migrant/innen. Analysiert werden Rahmenbedingungen und Prozesslogik der Mobilisierung von Arbeitsrecht mit Fokus auf...

This article provides a critical overview on the interaction between private antitrust enforcement and commitment decisions. Over the last few years there has been a significant use of commitment decisions, especially in Italy, to solve competition concerns in numerous cases, with the sole...

Using new data on citations to university patents and scientific publications, we study how geography affects university knowledge spillovers. Citations to patents decline sharply with distance and are strongly constrained by state borders. The effect of distance on citations to scientific...