Regulation

Climate Regulation and Emissions Abatement: Theory and Evidence from Firms’ Disclosures

We construct measures of firms' beliefs about climate regulation, plans for future abatement, and current emissions mitigation from responses to the...

Does Private Equity Ownership Make Firms Cleaner? The Role Of Environmental Liability Risks

This paper studies how Private Equity (PE) firms affect firms' environmental outcomes in the oil and gas industry. On average PE ownership leads to a 70%...

Mid-Crisis Restructuring Law Reform in the United Kingdom

Economic shocks create insolvency law-making space, generating opportunities for legal reform that may be absent in good times. Policymakers may...

Corporate Governance Convergence: Evidence from Takeover Regulation

The Politics of Related Lending

Mergers, Acquisitions and Restructuring: Types, Regulation, and Patterns of Practice

An important component of corporate governance is the regulation of significant transactions ? mergers, acquisitions, and restructuring. This...

Mapping the Future of Insider Trading Law: Of Boundaries, Gaps, and Strategies

The current law on insider trading is arbitrary and unrationalized in its limited scope in a number of respects. For example, if a thief breaks into your...

A Theory of Optimal Expropriation, Mergers and Industry Competition

We model a competitive industry where managers choose quantities and costs to maximize a combination of firm profits and benefits from expropriation....

How the Old World Encountered the New One: Regulatory Competition and Cooperation in European Corporate and Bankruptcy Law

Prospectus Liability and the Role of Gatekeepers as Informational Intermediaries: An Empirical Analysis of the Impact of the Statutory Provisions on Italian IPOs

This Article analyzes market reaction to the introduction into Italian legislation of a statutory system of (IPO) prospectus civil liability enacted...

Evidence-Based Policymaking: Promise, Challenges and Opportunities for Accounting and Financial Markets Research

The use of evidence and economic analysis in policymaking is on the rise, and accounting standard setting and financial regulation are no exception....

The Effect of Corporate Disclosure Regulation on Managers’ Private Communications

The SEC adopted Regulation FD (Reg FD) to address the selective disclosure by issuers of material nonpublic information. Selective disclosure results...