Die gegenwärtige, seit 2007 Wissenschaft, Wirtschaft und Politik intensiv beschäftigende internationale Finanzmarktkrise hat die Bedeutung von interdisziplinärer Forschung zu konstitutionellen Grundlagen globalisierter Finanzmärkte im Spannungsverhältnis von Stabilität und Wandel deutlich...

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We investigate the economic and technological determinants inducing entrepreneurs to establish ventures with the purpose of reinventing financial technology (fintech). We find that countries witness more fintech startup formations when the latest technology is readily available and people have...

The main goal of this academic paper is to provide an assessment of the current Antitrust regulatory framework in Serbia along with an analysis of Antitrust Commission practice in this field. This paper comprises of five sections. The first section focuses on the general provisions of Antitrust...

Economists have long neglected study of an important contractual decision, a firm's choice of legal form. Enterprise form shapes the relations among a firm's owners as well as many features of a firm's interactions with the rest of the economy. Using unusual firm-level data on Spain 1886-1936,...

In order to better differentiate the drivers of corporations' actions, in particular shareholder wealth and stakeholder interests, the paper explores the significance of the comply or explain-principle and its underlying enforcement mechanisms more generally. Against this background, compliance...

Consider legal uncertainty as uncertainty about the legality of a specific action. In particular, suppose that the threshold of legality is uncertain. I show that this legal uncertainty raises welfare. Legal uncertainty changes deterrence in opposite directions. The probability of conviction...

We take advantage of a natural experiment to document an emergence of a new price ending that has the same effects as 9-endings. In January 2014, the Israeli parliament has passed a law prohibiting the use of non 0-ending prices. We find that one year after 9-ending prices have disappeared,...

This article outlines the development of English company law in the four centuries before 1900. The main focus is on the evolution of the corporate form and the five key legal characteristics of the corporation - separate legal personality, limited liability, transferable joint stock, delegated...

This article discusses the relationship between the identity of the rulers of the executive and reform. Thus, we enrich the literature on the determinants of reform and the result of the executive. This is a new and very important literature, as these are the reforms that allow progress. We use...