Regulation

Agency, Authority, and Compliance

Compliance can and often does serve as a conduit through which regulators and enforcement authorities enlarge their authority beyond statutory...

FinTech and The Law & Economics of Disintermediation

As FinTech promises to increase competition for both banks and investment firms, we consider the market failures that emerge from its existence,...

Do ESG Mutual Funds Deliver on Their Promises?

Corporations have received growing criticism for their role in climate change, perpetuating racial and gender inequality, and other pressing social...

Related Party Transactions on the London Stock Exchange: What Works and What Does Not

The rules governing companies listed on the Main Market of the London Stock Exchange and its Alternative Investment Market fill an important gap in the...

Bailout Blues: the Write-Down of the AT1 Bonds in the Credit Suisse Bailout

The recent bailout of Credit Suisse is noteworthy for many reasons. One of them is that, while AT1 bondholders were wiped out, shareholders were not. This...

Mandatory IFRS Reporting Around the World: Early Evidence on the Economic Consequences

The Empty Call for Benefit-Cost Analysis in Financial Regulation

?Benefit-cost analysis? as applied to financial regulation is a serious category mistake that has the potential to stymie regulation aimed at the...

The Economics of Disclosure and Financial Reporting Regulation: Evidence and Suggestions for Future Research

This paper discusses the empirical literature on the economic consequences of disclosure and financial reporting regulation, drawing on U.S. and...

Ownership: Evolution and Regulation

This paper is the first study of long-run evolution of investor protection and corporate ownership in the U.K. over the 20th century. Formal investor...

The Case for an Unbiased Takeover Law (with an Application to the European Union)

Takeover regulation should neither hamper nor promote takeovers, but instead allow individual companies to decide the contestability of their...

European Company Law and Corporate Governance: Where Does the Action Plan of the European Commission Lead?

Is it Worthwhile to Augment the Legal Protection of Public Debt Placed by Privately Held Companies?

We examine the effects of a law amendment in Israel in 2011 that imposes a set of minimum corporate governance standards on privately held firms that issue...