Contracts

Legal Ground Rules in Coordinated and Liberal Market Economies

Serial CEO Incentives and the Structure of Managerial Contracts

I explore CEOs' incentives to select firm strategies and to acquire firm-specific skills when a few potential employers seeking to hire experienced...

Creditor Control Rights and Resource Allocation within Firms

We examine the within-firm resource allocation and restructuring effects of creditor intervention and their relationship to performance gains at...

Control Matters: Law and Economics of Private Benefits of Control

Trust, Incomplete Contracting, and Corporate Innovation

Innovation is a contract intensive economic activity in a world of incomplete contracts. We show that trust mitigates incomplete contracting and...

Don't Go Chasing Waterfalls: Fiduciary Duties in Venture Capital Backed Startups

We develop a model of venture capital contracting and use it to evaluate an emergent set of judicial precedents in corporate law, which we label the Trados...

Explaining the diversity in shareholder lockup agreements

Governance and Stakeholders

Economic models routinely assume firms maximize shareholder wealth; however common law legal systems only require that officers and directors pursue...

M&A Contracts: Purposes, Types, Regulation, and Patterns of Practice

M&A transactions are governed by contracts that exhibit constrained variation ? they are negotiated, yet full of boilerplate, tailored, yet full...

Joint Control and Redemption Rights in Venture Capital Contracts

Blockchain and Smart Contracting for the Shareholder Community

Current shareholder engagement systems face large classical inefficiencies. First, due to the large chains of intermediaries in the current...

Developments in Singapore Company Law in 2020

Singapore’s common law-origin corporate law regime ranks highly on corporate law and governance indices and is administered in part by superior...