Although the resurgence of Corporate Social Responsibility (CSR) has been described as the development of ‘markets for virtue’, little is known about the social construction of CSR markets. Prior works either focus on the economic potential of these markets or criticize the social...

Social responsibility standards voluntarily set by a company create obligations both in respect of their issuers and their receptors. Law operates a double movement of legalization (they shall become binding for employees) and control (this binding nature is to exist only if it satisfies the...

We analyze how bankruptcy laws affect the general equilibrium interactions between credit and wages. Soft laws reduce the frequency of liquidations and thus ex post inefficiencies, but they worsen credit rationing ex ante. This hinders firm creation and thus depresses labor demand. Rich agents...

Soft law plays an important role in the regulation of international tax matters. This paper focuses on the case of the OECD Transfer Pricing Guidelines and analyses the relationship between this non-binding instrument and the formal sources of law. From the perspective of international law, the...

In order to better differentiate the drivers of corporations' actions, in particular shareholder wealth and stakeholder interests, the paper explores the significance of the comply or explain-principle and its underlying enforcement mechanisms more generally. Against this background, compliance...

This paper analyses and assesses the track record and effectiveness of the so-called “Principles for Stable Capital Flows and Fair Debt Restructuring in Emerging Markets”,which have emerged as an important instrument for crisis prevention and crisis resolution in the international financial...

The European Employment Strategy (EES) has been put in place in order to ensure the survival of the European Social Model in view of institutional change resulting from the introduction of the European Monetary System. It has become the platform of a method of open coordination of social and...

The present article considers the importance of legal system origin in compliance with ‘international soft law,' or normative provisions contained in non-binding texts. The study considers key economic and governance metrics on national acceptance an implementation of the first Basle accord....

States often create international institutions that impose legally binding rules on member states, and then do not even attempt to enforce these rules. Why? In this article, we present a game-theoretic model of moribund hard law in international institutions. We show that if some states face...