Working Paper
Risk Management in European and American Corporate Law
In recent years, the emphasis in corporate governance has shifted from board composition, independent directors, separating the position of...
Read moreDelaware and the Transformation of Corporate Governance
The corporate governance arrangements of publicly traded companies have been transformed over the past four decades. Various observers have...
Read moreAccounting and Convergence in Corporate Governance: Doctrinal or Economic Path Dependence?
Convergence in corporate governance has been debated for more than 20 years. This paper seeks to explain convergence – and the lack thereof – in...
Read moreHow are U.S. Family Firms Controlled?
In large U.S. corporations, founding families are the only blockholders whose control rights on average exceed their cash flow rights. We analyze how...
Read moreThe Carrot and the Stick: Bank Bailouts and the Disciplining Role of Board Appointments
This paper empirically examines the Capital Purchase program (CPP) under TARP that was used by the U.S. government to bail out distressed banks with...
Read morePrivate Enforcement of Corporate Law: An Empirical Comparison of the UK and US
It is often assumed that strong securities markets require good legal protection of minority shareholders. This implies both "good" law -- principally...
Read moreLitigation Governance: Taking Accountability Seriously
Both Europe and the United States are rethinking their approach to aggregate litigation. In the United States, class actions have long been organized...
Read moreCorporate Opportunities in the US and in the UK: How Differences in Enforcement Explain Differences in Substantive Fiduciary Duties
Fiduciary duties are often today held out as typical instruments of shareholder protection in the common law of both the US and the UK, which are sometimes...
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