The essence of the legal origin hypothesis is that a country with an English legal origin provides better investor and creditor protection and experiences greater financial development; financial institutions and stock markets flourish, the general public participate more in financing investment...

The paper traces the intertwined evolution of financial risk management and the financial derivatives markets. Spanning from the late 1960s to the early 1990s, this paper reveals the social, political and organizational factors that underpinned the exponential success of one of today's leading...

Dual-class shares have presented a challenge to standard valuation theories, and yet they make up a significant share of the trading volume and market capitalization in a significant number of the world's largest stock exchanges. This descriptive study overviews the incidence of dual-class firms...

Notwithstanding one decade of corporate law reform during which the German legislature augmented the traditional explicit system of corporate control with market-based corporate governance devices, the German corporate governance reform law agenda is still packed. The paper provides an overview...

This paper focuses on the weaknesses of the regulatory framework exposed by directors' and gatekeepers' behaviour and its contribution to Parmalat's fraud. It will also address how these regulatory gaps might be filled, and wile propose some quot;solutions.quot; First, we offer a brief...

Hedge funds and private equity offer unique investing opportunities, including the possibility for diversified and excess returns. Yet, current federal securities regulation effectively prohibits the public offer and purchase in the United States of these hedge fund and private equity...

A core part of the transition process in the former socialist countries is the creation of economic institutions that are required for a functioning market economy. The experience of the past years as well as a paradigm shift in the economic literature have brought the role of law in shaping...