The traditional 2/20 fee structure of private investment funds has come increasingly under pressure in the last ten years. Typical factors considered to explain the pressure on fees in the industry include the inadequate performance of the private investment fund industry, the ability of large...

Contingent capital securities are a largely overlooked dynamic regulatory mechanism. This essay evaluates the use of contingent capital securities in a dynamic regulatory context, including the use of feedback effects for optimized timing and information for regulation and anticipatory regulation

The legal profession is one of the most disrupted sectors of the consulting industry today. The rise of Legal Tech, artificial intelligence, big data, machine learning, and, most importantly, blockchain technology is changing the practice of law. The sharing economy and platform companies...

Blockchain technology provides anonymous and secure transactional guarantees through democratized trust and disintermediation. Minorities and disenfranchised communities can benefit from the evolving technology and its anti-discrimination features. The article evaluates how blockchain technology...

Recent corporate governance initiatives encourage a culture of long-term value creation and growth but cannot work as intended by policymakers. The current discussion about corporate governance ignores the transition from a centralized to a decentralized, unmediated, and interconnected world and...

This study assesses the effects of Dodd-Frank Act compliance costs on the private fund industry. Using hand-selected compliance cost estimates from private fund advisers (N=94) the study shows with two independent datasets that the number of funds managed by private fund advisers is associated...

Internet-based platform businesses outcompete traditional brick and mortar business on nearly all measures of comparison. Similarly, distributed ledger technology (DLT) businesses depend on the internet and show a lot of promise in multiple business verticals. Yet, internet-based platform...

The article provides an overview of the evolving economic incentive designs in decentralized systems. After introducing the decentralized economic policy tools that influence token design, the author examines the leading token models in a hand-selected dataset comprising the top one hundred...

We live in a world that has historically been dominated by centralized, hierarchical organizations. Such organizations are characterized by (i) a centralized source of authority; (ii) a formal hierarchy with clearly defined “roles”; and, (iii) standardized operational systems and procedures...

In an age of constant, complex and disruptive technological innovation, knowing what, when, and how to structure regulatory interventions has become more difficult. Regulators find themselves in a situation where they believe they must opt for either reckless action (regulation without...