This essay asks whether business firms should be treated as moral or legal persons, capable of bearing rights and duties as distinct entities. Building on earlier work describing firms as relational contracts in performance (Adelstein 2010), it considers the nature of legal and moral...

Studies of Spanish cooperatives date their spread from the Law on Agrarian Syndicates of 1906. But the first legislative appearance of cooperatives is an 1869 measure that permitted general incorporation for lending companies. The 1931 general law on cooperatives, which was the first act...

La Sociedad de Responsabilidad Limitada es la modificación más rotunda en materia de sociedades en España en todo el siglo XX. Su primera ley es de 1953. Y no obstante funcionó con total normalidad y éxito desde 1919, cuando el Reglamento del Registro Mercantil regularizó su inscripción....

We use firm-level data for France and Italy to explore the impact of service regulation reform implemented in the two countries on the mark-up and eventually on the performance of firms between the second half of the 1990s and 2007. We find that the relation between entry barriers and...

With cross-border trade and the free movement of people inevitably legal disputes follow. Businesses and individuals need the assurance that a venue for the resolution of legal disputes is available. Not only must there be a reliable judicial system for the resolution of those disputes, but also...

The Longevity of the Roman Civil Code from 1864, and the long duration of cohabitation with the Commercial Code of 1887 puts into question the issue of rapid enforcing of the New Civil Code! Therefore it is extremely important to compare the current drafting legal texts regarding companies in...

ABSTRACT :This paper assesses how legal origin influences financial development through regulationquality and the rule of law. It employs all the dimensions identified by the FinancialDevelopment and Structure Database of the World Bank. The law channels are instrumentedwith legal origins to...

This paper examines the tax administrative burden and its effect on new firm formation. It is well recognized that entrepreneurship and new firm formation are critical factors in determining economic growth and development. New firm entry into the marketplace enhances welfare in two distinct...

In the 21 years, since the beginning of the systemic reforms supported by the international community, Albania, one of the post–socialist countries, has adopted a new legal framework in the field of the commercial law typical for the market economy, laws that are relatively modern which...

The notion of shareholder stirs theoretical and practical concern. The traditional qualification criteria – the contribution, affectio societatis, participation to profit and loss, the power of intervention in the social life – prove to be useless when facing particular situations. The...