This Article provides the first comprehensive examination of an emerging practice within the private equity sector-continuation funds. Continuation funds break from the traditional private equity model by allowing sponsors to hold on to assets beyond the typical fund term and, instead of selling...

In Deutschland erkannten die Arbeitgeber die Gewerkschaften im November 1918 als berufene Vertreter der Arbeitnehmer an. Damit wurde die Tarifautonomie eingeführt. Seitdem lässt sich beobachten, dass der Staat den Tarifverhandlungsprozess aufmerksam beobachtet und gelegentlich steuert. Dieses...

Japan has experience reviving its real estate market through the introduction of securitization, and this could work for farmland even though farmland in Japan operates under different property regulations than office buildings and residences. However, farmland usage and its activation would...

The existence of bitcoins and NFTs, and perhaps also the possibility of founding a company on a blockchain network, should have gotten around after 15 years. At present, software engineers continue to work on solutions in Web3, new business activities such as coin minting, blockchain...

The EU General Data Protection Regulation (GDPR) of 2018 introduced stringent transparency rules compelling firms to disclose, in accessible language, details of their data collection, processing, and use. The specifics of the disclosure requirement are objective, and its compliance is easily...

In Germany, free collective bargaining was introduced after the Great War in November 1918. Tough, it has constitutional status, we can observe that the state monitors and sometimes steers the collective bargaining process. This can be explained by using the Principal Agent Model as an...

Judges become ambitious decision makers when they face appellate review. This paper applies a contract theoretic perspective to the behavior of self-interested trial judges in a twolevel court system and analyzes the consequences for contracting in 'the shadow of' the court. Confronted with the...

Der Beitrag stellt den derzeitigen deutschen und europäischen verbraucherpolitischen Ansatz im Bereich der Finanzdienstleistungen vor. Verschiedene Informationspflichten sind hier das maßgebliche Instrument zur Unterstützung der Entwicklung eines funktionierenden Marktes. Informationsangebote...

Economic theory conjectures complementarities between the ranking of creditors in formal insolvency proceedings and the use of collateral in bank loan contracts as well as the existence of relational compared to arm's length lending. In this paper we seek evidence for these hypotheses taking...

The International Monetary Fund (IMF) stated in spring of this year that a more timely restructuring of Greece's sovereign debt would have been beneficial. But what are the available options for early debt restructuring? The report argues that current reforms in the Euro area, in particular,...