This paper contains the tables of contents, legislation and cases, the introduction and the index of a book published by Cambridge University Press (2008). The cover text reads as follows: "On the one hand, it can be argued that the increasing economic and political interdependence of countries...

During the past decades, corporate law and corporate governance debates have generally been skeptical of elements of economic ‘Nationalism’ or ‘protectionism.’ Arguably, globalization and convergence in corporate governance have resulted in a reduction of protectionist policies. However,...

Over recent years, a number of regulators have launched proposals to expand the obligation to disclose major share ownership in listed companies. This paper shows that these are not stand-alone developments. Using a unique dataset comprising data from 25 countries over 11 years (1995-2005) and...

Comparative law and finance quantifies differences in the laws governing the business enterprise in various countries. The resulting data can be used to test which legal institutions (if any) matter for financial development. Until recently only cross-sectional data were available. We report the...

Crowdfunding, a new Internet-based securities market, was recently authorized by federal and state law in order to create a vibrant, diverse, and inclusive system of entrepreneurial finance. But will people really send their money to strangers on the Internet in exchange for unregistered...

Securities crowdfunding — the sale of unregistered securities to the public over the Internet — has come under attack before it has even begun. Legal scholars in particular have expressed concern that investors will lose any money they invest in crowdfunding companies. Even assuming that...

Teenage startups are in the public interest and should be encouraged, yet the federal CARD Act of 2009 eliminated credit card financing for many such companies, cutting off an important source of early-stage business capital for teenage entrepreneurs. Since then, however, Congress passed the...

This article is a Festschrift contribution to honor the 70th birthday of Professor Joachim Hruschka. Professor Hruschka has enduring patience in exchanges with friends, colleagues, and students. I benefited much from his explanations of Kant's moral philosophy and this article is an attempt to...

Conventional economic analysis assumes that Central Counterparties (CCPs) may help to reduce systemic risk and avoid future financial crises by mandating the central clearing of over-the-counter (OTC) derivatives. This view largely goes unchallenged by governments, regulators, practitioners, and...

The financial crisis has placed executive pay at center stage in the corporate governance reform debate in the United States and around the world. We consider whether a judge-made solution to the problem will support the regulatory reform effort to reduce or eliminate excessive compensation. In...