One of the most persistent debates among corporate law scholars has been whether the competition among states for corporate charters produces a race to the top or a race to the bottom. Some argue that the competition leads to the most efficient state emerging as the winner of the race. Others...

In his recent essay, Bounded Institutions, Yair Listokin examines bounded and unbounded structures as two alternative designs for principals to delegate regulatory authority to their agents. Bounds refer to numerical or quantifiable limitations that are set by the principal on some dimension of...

With projections that the demand for legal services will remain relatively flat in the post-crisis period, legal service providers are placing greater emphasis on business and client development, and increasingly expect such efforts from their newest associates. As language and culture can be...

Firms use the labels of family relationships, such as parent companies, sister banks and brother-sister controlled groups. This article considers whether there are additional insights underlying such labels that could be portable to the corporate context, using the private equity (P-E) led...

“Leveraged” loans, or loans rated BB or lower, have reached new peaks in the post-crisis period, approaching nearly two trillion dollars in such loans made globally. This Article assesses U.S. leveraged loan regulation and highlights the ways in which the entity- or institution-based focus...

This paper develops a definitional and conceptual framework to assess the extent to which firms are democratically organized and applies the framework to thirty-nine publicly-listed private equity firms (“PPE”). The proposed definitional framework merges the criteria used by influential...

As more attention is given to environmental, social, and governance (“ESG”) considerations of firms, ESG data and ratings providers are serving an increasingly important function in the corporate discourse. It is reported that there were more than 160 ESG data and ratings providers in 2020,...