For capital markets to function, political institutions must support capitalism in general and the capitalism of financial markets in particular. Yet capital markets' shape, support, and extent are often contested in the polity. Powerful elements — from politicians to mass popular movements...

Strong financial markets are widely thought to propel economic development, with many in finance seeing legal tradition as fundamental to protecting investors sufficiently for finance to flourish. Kenneth Dam, in the Law-Growth Nexus, finds that the legal tradition view inaccurately portrays how...

The essence of the legal origin hypothesis is that a country with an English legal origin provides better investor and creditor protection and experiences greater financial development; financial institutions and stock markets flourish, the general public participate more in financing investment...

As emerging market businesses increasingly seek credit through United States and other international financial markets, hedge funds and other market players more actively trade claims to their debt. Such creditors accordingly confront in greater measure the disconnect between the integrity,...

This paper is the first one that uses a panel data of different types of shareholder protection in order to examine (i) the effect of such laws on stock market development and (ii) the convergence of shareholder protection laws through cross-border mergers and acquisitions. We find significant...

Small jurisdictions have become significant players in cross-border corporate and financial services. Their nature, legal status, and market roles, however, remain under-theorized. Lacking a sufficiently nuanced framework to describe their functions in cross-border finance - and the peculiar...

In this Article, we intend to fill a gap in the comparative law literature by adopting a case-based approach to comparative corporate law that highlights the important dimension of specific cases in corporate law matters and how identifiable, but limited issues arising from such case disputes...

We test the 'law matters' and 'legal origin' claims using a newly created panel dataset measuring legal change over time in a sample of developed and developing countries. Our dataset improves on previous ones by avoiding country-specific variables in favour of functional and generic...

While many law schools offer a rich selection of courses in corporate law spanning doctrinal, clinical and interdisciplinary approaches, courses on the history of corporate law (and more broadly the law of business organizations) are largely absent. This essay, submitted to an American Journal...