As the 2008 financial crisis spread globally, it became widely apparent that an essential ingredient to preventing future systemic crises was reform of the regulation of financial markets. Two ambitious initiatives for regulatory reform are the European Union's European System of Financial...

Legal reforms, either general or reforms in institutions, are carried out in specialized sectors of law in the form of technical assistance which largely fall under broader sector of rule of law. This has been is one of the approach of major development agencies for the international...

We develop a theoretical model to analyze the role of judicial review in preventing tyrannies of the majority. The model identifies conditions under which the optimal role of the court may be to allow tyranny of the majority – and the tyrannized minority will be better off as a result. This...

This article analyzes how shareholder protection has developed in 20 countries from 1995 to 2005. In contrast to traditional legal research, it draws on a quanti-tative methodology to law ("leximetrics", "numerical comparative law"). Some of its results are that in most countries shareholder...

In the last few years law and finance scholars have 'discovered' the usefulness of comparative law. Their studies look at the quantifiable effect that legal rules and their enforcement have on financial development in different countries. Moreover, they link their results with the long- standing...

In this paper we build a new and meaningful shareholder protection index for five countries and code the development of the law for over three decades. At-tributing and comparing legal differences by numbers is contrary to the tradi-tional way of doing comparative law and the use of a...

Following the 1900 congress in Paris, the beginning of the 20th century saw comparative law emerge as a significant discipline. This paper suggests that the early 21st century is seeing the decline, or maybe even the 'end', of comparative law. In contrast to other claims which see the 21st...

This paper uses a new quantitative methodology ("numerical comparative law", "leximetrics") in order to answer the questions whether there has been convergence, divergence or persistence of legal rules, and how this relates to the Common Law/Civil Law distinction. It is based on indices for...

The participation of the social partners to the European governance, lately possessing a great „potential” in democratic terms,should stimulate definitively. The current experience demonstrates that the possibility to point out the benefits, but also the limits of such implication....

This paper considers the factors the allowed for the birth and facilitated the subsequent development of the equity side and the finance (or debt) side of the Islamic capital markets. The equity side of the Islamic capital markets began in 1998 with the issuance (after five years of debate) of a...