This essay explores the policy bases for, and the political economy of, the law's long-standing regulation of corporate political speech. The essay has three parts. First, it contends that the conventional justifications for regulating corporate interventions in politics - that corporate...

Financial regulation is a much debated topic for some time. The history of financial instruments started at a time when people started giving value to physical objects over and above its inherent utility. Right from the very beginning of their existence, it has been acknowledged that financial...

Edited by Yun-chien Chang, Wei Shen and Wen-yeu Wang, the book Private Law in China and Taiwan: Legal and Economic Analyses is set to be a leading comprehensive and authoritative law book that provides an economic and comparative framework for analysing private law in China and Taiwan. This book...

In 2009 Taiwan repealed the minimum capital requirement for incorporation (MCR), owing to the World Bank (WB)'s Doing Business (DB) reports. This article presents regulatory/jurisdictional competition as an analytical framework for convergence towards the liberalization of the MCR, especially in...

This paper uses the staggered adoption of state-level antitakeover laws to provide causal evidence on whether managerial agency problems affect the allocative efficiency of conglomerate firms. Increases in control slack lead to sharp declines in the Q-sensitivity of investment. The effects are...

The use of evidence and economic analysis in policymaking is on the rise, and accounting standard setting and financial regulation are no exception. This article discusses the promise of evidence-based policymaking in accounting and financial markets as well as the challenges and opportunities...

We study the impact of the enforcement of financial regulation by the UK's regulatory authorities on the market price of penalized firms. Existing studies rely on analyses of multiple events that may distort the measurement of reputational losses. In the UK, the entire enforcement process...

This paper surveys extant finance literature pertaining regulatory implications for corporate governance effectiveness. It reveals that a weak market mechanism coupled with frail regulatory governance could potentially delimit corporate governance effectiveness through worsening information...

A recent article in the Economist called attention to the mutual fund industry's flagrantly noncompetitive fee structure, noting that fund managers earn a quot;staggeringquot; profit margin of 42% on average, largely because quot;most fund managers do not compete on price.quot; Despite this...

Several countries legally mandate representation of workers on boards of directors. The evidence on the shareholder wealth effects of such a corporate governance design is mixed. I examine abnormal announcement returns around major milestones leading to the passing of the German Codetermination...