Regulation

GameStop and the Reemergence of the Retail Investor

The GameStop trading frenzy in January 2021 was perhaps the highest profile example of the reemergence of capital market participation by retail...

Corporate Fraud, Governance and Auditing

Getting Incentives Right: Is Deferred Bank Executive Compensation Sufficient?

In the wake of the global financial crisis, attention has often focused on whether incentives generated by bank executives? compensation programs led...

Who Directs the Fed?

During the financial crisis, questions arose concerning links between the Federal Reserve and the business community. This paper provides the first...

Principles of Financial Regulation

Inadequate regulation of the financial system is widely thought to have contributed to the financial crisis. The purpose of the book is to articulate a...

Monetary Liability for Breach of the Duty of Care?

This paper clarifies why optimal corporate governance generally excludes monetary liability for breach of directors? and managers? fiduciary duty of...

Regulatory Pressure and Bank Directors' Incentives to Attend Board Meetings

The primary way in which directors obtain necessary information is by attending board meetings. Bank directors, in particular, are strongly urged to...

Self-commitments and the Binding Force of Self-regulation with Respect to Third Parties in Germany

Codes of conduct are a well-accepted feature of European corporate governance. Listed corporations are obliged to annually state their compliance...

The End of “Corporate” Governance (Hello “Platform” Governance)

In a technology-driven, digital world, many of the largest and most successful businesses now operate as “platforms.” Such firms leverage...

Tech, Regulatory Arbitrage, and Limits

Regulatory arbitrage refers to structuring activity to take advantage of gaps or differences in regulations or laws. Examples include Facebook...

Stakeholder Impartiality: A New Classic Approach for the Objectives of the Corporation

The stockholder/stakeholder dilemma has occupied corporate leaders and corporate lawyers for over a century. In addition to the question whose...

Does Common Ownership Explain Higher Oligopolistic Profits?

A stylized fact that lurks in the background of the recent literature on common ownership is the parallel increase in the profitability of oligopolistic...