Recent work in both the theory of the firm and of corporate law has called into question the appropriateness of analysing corporate law as merely a set of standard form contracts. This article develops these ideas by focusing on property law's role in underpinning corporate enterprise. Rights to...

At the end of the twentieth century, it was thought by many that the Anglo-American system of corporate governance was performing effectively and some observers claimed to see an international trend towards convergence around this model. There can be no denying that the recent corporate...

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...

In recent years law and economics scholarship has expanded its frame of reference to incorporate the role of social norms in shaping the incentives of actors. This shift in perspective has yet to filter through to the literature on bankruptcy, which has to date concentrated on the role of legal...

‘Shareholder rights' are the legal entitlements of shareholders via-a-vis companies in which they invest. A large body of research has sought to investigate how shareholder rights foster accountability of controllers. The concern has been that without accountability, managers and dominant...

What are the implications of artificial intelligence (AI) for corporate law? In this essay, we consider the trajectory of AI's evolution, analyze the effects of its application on business practice, and investigate the impact of these developments for corporate law. Overall, we claim that the...

Brazil is one of the world's largest emerging markets, with many opportunities for development. Persuading financiers to commit funds to Brazilian firms requires effective corporate and securities laws to facilitate ‘arm's length' contracting. Enforcement of these laws is problematic....

The UK's recent vote for Brexit has sparked a fierce debate over the implications for the rights of EU citizens living in the UK and UK citizens living in the rest of the EU. So far, however, there has been relatively little discussion of the implications of Brexit for legal persons — that is,...

The withdrawal of the UK from the EU (or ‘Brexit') as a result of the referendum of June 23 is certain to have profound implications for all aspects of the law of the United Kingdom. As soon as the result became known, legal commentators rushed to offer some kind of guidance. Surprising as it...