Reform

Remuneration: Where We've Been, How We Got to Here, What are the Problems, and How to Fix Them

Restructuring the European Business Enterprise: The EU Commission Recommendation on a New Approach to Business Failure and Insolvency

Two events are currently changing the landscape for business restructurings in the European Union: the “Restructuring Recommendation” (RR) of...

Company Law Reform in the UK: A Progress Report

The UK has been taking its time on major company law reform. Comprehensive company law reform has been under discussion for more than six years but a full...

Empowering Shareholders in Directors' Elections: A Revolution in the Making

Club-in-The-Club: Reform Under Unanimity

In many organizations, decisions are taken by unanimity giving each member veto power. We analyze a model of an organization in which members with...

Making the Case for a Rome V Regulation on the Law Applicable to Companies

There is significant legal variation and uncertainty in the conflict of laws rules applicable to companies in the EU. While the case law of the Court of...

Split Share Structure Reform, Corporate Governance, and the Foreign Share Discount Puzzle in China

On-Going Board Reforms: One-Size-Fits-All and Regulatory Capture

Ratings Reform: The Good, The Bad, and The Ugly

Both in Europe and in the United States, major steps have been taken to render credit rating agencies more accountable. But do these steps address the...

Bribes and Corporate Performance: Evidence from a Quasi-Natural Experiment

We examine how bribes may affect corporate performance using a quasi-natural experiment. Specifically, we exploit the 2016 enactment of the Improper...

The Governance of Financial Supervisors: Improving Responsiveness to Market Developments

Corporate Governance of Banks after the Financial Crisis