This is a time of spirited debate about regulatory competition in Europe. Discussions about competitive lawmaking abound. At the same time, the introduction of the European Company and the further harmonization attempts by the European Commission puts questions about the necessity of EU...

In this paper, we critically examine the theory of regulatory competition. The departure point of this theory is that governments compete for factors of production - and also to attract habitants - when they regulate. Thus, regulation should satisfy citizen preferences if competition is...

We study the effect of environmental, social and governance (ESG) scores on the portfolio allocations of institutional investors. Using a unique data set, we find that institutional investor holdings (as measured by 13F filings) are strongly driven by the ESG quality of companies. While...

The forces of globalization and economic integration have given a fresh impetus to company law reform in Europe. As recent judgments of the European Court of Justice encourage competitive lawmaking within the European Union, discussions about the role of the European Commission in the...

We examine the market response to the disclosure of suspicious activity reports (SARs), made public as part of the FinCEN leak. We find a significant negative stock market reaction the days after the database was made public. To further examine the effects of the FinCEN leak, we study whether...

In this paper, we have distinguished three different positions along the reform strategy spectrum of company law. The first position is located on the left side of the spectrum and closest to stasis - where virtually no effective legal changes can occur and where only the idea of reform clashes...