It is generally assumed that trade retaliation under the WTO performs some kind of 'rebalancing' by allowing the injured Member to suspend 'concessions and obligations' vis-à-vis the violating Member of a level equivalent to the level of 'nullification and impairment' suffered by the injured...

Preemptive rights are thought to protect minority shareholders from cheap-stock tunneling by a controlling shareholder. We show that preemptive rights, while making cheap-stock tunneling more difficult, cannot prevent it when asymmetric information about the value of the offered shares makes it...