The Law And Economics Of Corporate Governance
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The Law And Economics Of Corporate Governance
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Author : Alessio M. Pacces
language : en
Publisher: Edward Elgar Publishing
Release Date : 2010-01-01
The Law And Economics Of Corporate Governance written by Alessio M. Pacces and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-01-01 with Law categories.
In this timely book, the law and economics of corporate governance is approached from a range of angles. This study reveals that perspectives are changing: they differ between the economic and the legal standpoint; they vary across countries; they evolve over time. A group of leading scholars offer their views some provide fresh empirical evidence on existing theories and others attempt to develop new theoretical insights based on empirical puzzles. They all analyse the economics of corporate governance with a view to how it should, or should not, be regulated. Economic analysis of law proves to be the common language for understanding corporate governance on both sides of the Atlantic. The law and economics approach is applied to topical issues in the international debate, such as the harmonization of company laws; regulatory competition; determinants of separation of ownership and control; enforcement of investor protection; and the political economy of corporate governance.
Rethinking Corporate Governance
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Author : Alessio Pacces
language : en
Publisher: Routledge
Release Date : 2013-01-17
Rethinking Corporate Governance written by Alessio Pacces and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-01-17 with Law categories.
The standard approach to the legal foundations of corporate governance is based on the view that corporate law promotes separation of ownership and control by protecting non-controlling shareholders from expropriation. This book takes a broader perspective by showing that investor protection is a necessary, but not sufficient, legal condition for the efficient separation of ownership and control. Supporting the control powers of managers or controlling shareholders is as important as protecting investors from the abuse of these powers. Rethinking Corporate Governance reappraises the existing framework for the economic analysis of corporate law based on three categories of private benefits of control. Some of these benefits are not necessarily bad for corporate governance. The areas of law mainly affecting private benefits of control – including the distribution of corporate powers, self-dealing, and takeover regulation – are analyzed in five jurisdictions, namely the US, the UK, Italy, Sweden, and the Netherlands. Not only does this approach to corporate law explain separation of ownership and control better than just investor protection; it also suggests that the law can improve the efficiency of corporate governance by allowing non-controlling shareholders to be less powerful.
Research Handbook On The Economics Of Corporate Law
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Author : Claire A. Hill
language : en
Publisher: Edward Elgar Publishing
Release Date : 2012-04-01
Research Handbook On The Economics Of Corporate Law written by Claire A. Hill and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-04-01 with Law categories.
Comprising essays specially commissioned for the volume, leading scholars who have shaped the field of corporate law and governance explore and critique developments in this vibrant and expanding area and offer possible directions for future research. This important addition to the Research Handbooks in Law and Economics series provides insights into subjects such as the role of directors, shareholders, creditors and employees; empirical studies of litigation and shareholder activism; executive compensation; corporate gatekeepers; comparative law; and behavioral approaches to law and finance. Topics are organized within five sections: corporate constituencies, insider governance, gatekeepers, jurisdiction, and new theory. Taken as a whole, the volume serves as an introduction for those new to the field and as a reference for those unfamiliar with some of the topics discussed. Authoritative and accessible, the Research Handbook on the Economics of Corporate Law will be a valuable resource for students, scholars, and practitioners of corporate law and economics.
The Handbook Of The Economics Of Corporate Governance
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Author : Benjamin Hermalin
language : en
Publisher: Elsevier
Release Date : 2017-09-18
The Handbook Of The Economics Of Corporate Governance written by Benjamin Hermalin and has been published by Elsevier this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-09-18 with Business & Economics categories.
The Handbook of the Economics of Corporate Governance, Volume One, covers all issues important to economists. It is organized around fundamental principles, whereas multidisciplinary books on corporate governance often concentrate on specific topics. Specific topics include Relevant Theory and Methods, Organizational Economic Models as They Pertain to Governance, Managerial Career Concerns, Assessment & Monitoring, and Signal Jamming, The Institutions and Practice of Governance, The Law and Economics of Governance, Takeovers, Buyouts, and the Market for Control, Executive Compensation, Dominant Shareholders, and more. Providing excellent overviews and summaries of extant research, this book presents advanced students in graduate programs with details and perspectives that other books overlook. Concentrates on underlying principles that change little, even as the empirical literature moves on Helps readers see corporate governance systems as interrelated or even intertwined external (country-level) and internal (firm-level) forces Reviews the methodological tools of the field (theory and empirical), the most relevant models, and the field’s substantive findings, all of which help point the way forward
Featuring Control Power
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Author : Alessio M. Pacces
language : en
Publisher:
Release Date : 2009
Featuring Control Power written by Alessio M. Pacces and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with categories.
This book reappraises the existing framework for economic analysis of corporate law. The standard approach to the legal foundations of corporate governance is based on the 'law matters' thesis, according to which corporate law promotes separation of ownership and control by protecting minority shareholders from expropriation. This book takes a broader perspective on the economic and legal determinants of corporate governance. It shows that investor protection is a necessary, but not sufficient, legal condition for efficient separation of ownership and control. Supporting control powers vested in managers or controlling shareholders is at least as important as protecting investors from their abuse. Corporate law does not only matter in the last respect; it matters in both.This result is derived by interpreting corporate governance based on three categories of private benefits of control. Corporate law affects corporate governance depending on its impact on each category of private benefits, and not just on those accounting for shareholder expropriation. Three major areas of corporate law are considered with this view. The first is the legal distribution of corporate powers. The second is the discipline of related-party transactions. The third is regulation of control transactions. The three areas are investigated comparatively in the US, the UK, Italy, Sweden, and the Netherlands. The investigation shows that, when corporate law is analyzed in this fashion, it explains the different patterns and performance of corporate governance. This account of corporate law is not only useful for understanding separation of ownership and control, but also for indicating how to improve its efficiency through legal intervention.A brief summary of the book is available for download. The full book can be downloaded from RePub, the electronic repository of publications in the Erasmus University of Rotterdam. A limited number of hard copies is still available upon direct inquiry with the author.
The Rule Of Law Economic Development And Corporate Governance
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Author : Nadia E. Nedzel
language : en
Publisher: Edward Elgar Publishing
Release Date : 2020-08-28
The Rule Of Law Economic Development And Corporate Governance written by Nadia E. Nedzel and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-08-28 with Law categories.
Grounded in history and written by a law professor, this book is a scholarly yet jargon-free explanation of the differences between the common and civil law concepts of the rule of law, and details how they developed out of two different cultural views of the relationships between law, individuals, and government. The author shows how those differences lead to differences in economic development, entrepreneurship, and corporate governance.
Law And Economics Of Corporate Governance And Insider Trading
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Author : Georgios I. Zekos
language : en
Publisher: Nova Science Publishers
Release Date : 2016
Law And Economics Of Corporate Governance And Insider Trading written by Georgios I. Zekos and has been published by Nova Science Publishers this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with Corporate governance categories.
The regulation of insider trading prohibits insiders from using inside information in securities transactions, and the central goal of the regulator is to preclude non-public information from circulating in the stock markets. The goal of legislation against insider trading is the same as that of legislation against market manipulation, making certain the integrity of EU financial markets and so boosting investor confidence in those markets. Market manipulation and insider trading are interrelated and based on circulation of information, and so cyberspace & e-logistics of information could be the key to neutralising people from taking advantage of their privilege to govern information within a company. Insider trading moves prices because outsiders decode information from the trade itself. Insider trading increases capital costs for the reason that insider trading raises the cost to market-makers in a companys securities relative to other companies, decreasing the anticipated return to uninformed shareholders. Corporate insiders are clearly informed about their own firms. The insiders outperformance derives from either their analytical skill or the handling of superior information about their companies when trading. Insiders benefit from unexpected losses on top of gains and so have a perverse incentive to trigger the company to under-perform if insider trading is permitted. Securities are vital, not only as investment vehicles, but also as devices for corporate control. A peaceful European Revolution should bring forward European nations and the USE/European Federation, which can deal with insider trading, criminal law, and other political/economical components in a harmonious way while avoiding any conflict among the various jurisdictions taking place in the present EU.
The Rule Of Law Economic Development And Corporate Governance
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Author : Nadia E. Nedzel
language : en
Publisher: Edward Elgar Publishing
Release Date : 2020-08-28
The Rule Of Law Economic Development And Corporate Governance written by Nadia E. Nedzel and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-08-28 with categories.
Grounded in history and written by a law professor, this book is a scholarly yet jargon-free explanation of the differences among the common and civil law concepts of the rule of law, and details how they developed out of two different cultural views of the relationships between law, individuals, and government. The book shows how those differences lead to differences in economic development, entrepreneurship, and corporate governance. The author considers the relationship among the ROL and economic development, the legal and economic differences between shareholder and stakeholder theory, and also offers insights into how to promote effective and sustainable change in law and business.Students and scholars of international business law, corporate governance, economics, and political economy will gain a general understanding of the topic in a way not previously presented.
Classics In Corporate Law And Economics
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Author : Jonathan R. Macey
language : en
Publisher:
Release Date : 2008
Classics In Corporate Law And Economics written by Jonathan R. Macey and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with Corporate governance categories.
Comparative Corporate Governance
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Author : Andreas M. Fleckner
language : en
Publisher: Cambridge University Press
Release Date : 2013-07-11
Comparative Corporate Governance written by Andreas M. Fleckner and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-07-11 with Law categories.
The business corporation is one of the greatest organizational inventions, but it creates risks both for shareholders and for third parties. To mitigate these risks, legislators, judges, and corporate lawyers have tried to learn from foreign experiences and adapt their regulatory regimes to them. In the last three decades, this approach has led to a stream of corporate and capital market law reforms unseen before. Corporate governance, the system by which companies are directed and controlled, is today a key topic for legislation, practice, and academia all over the world. Corporate scandals and financial crises have repeatedly highlighted the need to better understand the economic, social, political, and legal determinants of corporate governance in individual countries. Comparative Corporate Governance furthers this goal by bringing together current scholarship in law and economics with the expertise of local corporate governance specialists from twenty-three countries.