The project of creating a Banking Union is designed to overcome the fatal link between sovereigns and their banks in the Eurozone. As part of this project, political agreement for a common supervision framework and a common resolution scheme has been reached with difficulty. However, the...

This paper examines recent trends in venture capital fundraising and investments. We find that the emergence of ‘new' types of investors, such as crowdfunding platforms, super-angels and corporations, during this period may explain the changes in the venture capital model. Importantly, the new...

In the past year, a number of new financial transactions (such as the Fantex, Upstart and Pave transactions) have emerged that allow individuals to raise funds by offering a percentage interest in their future earnings. Unlike traditional lending arrangements, these structures essentially enable...

This "white paper," written for the Roosevelt Institute, looks at the Dodd-Frank Orderly Liquidation Authority, as currently conceived of by regulators. The existence of OLA is crucial to the idea that the Dodd-Frank Act has actually ended "too big to fail." Since financial institutions remain...

Small businesses are regarded the engine of the economy. But just what is a "small" business? Depending on where one looks in the law, the definitions vary and they differ from one section to another. Unfortunately, what these various size classifications fail to assess, are the policy...

The EU bank recovery and resolution directive includes mechanisms for recovery (or “early intervention”) for groups. These are: group recovery plans, intra-group financial assistance and coordination of early intervention measures regarding groups.But do these group provisions ensure a...

Today, the need for nimble financial regulation is paramount. The Dodd-Frank financial reform bill has not prevented further scandals and will not stop banks from selling risky products. Yet one understudied law is a surprisingly versatile device that has the potential to temper financial risk:...

The legal origin literature documents that civil and common law traditions have different impact on rules and economic outcomes. We contribute to this literature by investigating the relationship between corporate social responsibility and legal origins. Consistently with the main differences in...

This article proposes that U.S. international tax policy analysis must take into account non-tax regulation, which is generally disregarded in international tax policy analysis. Structural features of non-tax regulatory regimes will be shown to have significant implications for fundamental...

Spanish Abstract: Este trabajo analiza entre otras cuestiones: el impacto que el Impuesto Empresarial a Tasa Única ha tenido, desde su entrada en vigor, en 2008, en los Convenios para Evitar la Doble Tributación que México había firmado antes del año citado, así como los que fueron...