Economic Analysis of Law and Governance PDF Download
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Author: Ranita Nagar
Publisher:
ISBN: 9789394364448
Category : Commercial law
Languages : en
Pages : 0
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Book Description
Author: Ranita Nagar
Publisher:
ISBN: 9789394364448
Category : Commercial law
Languages : en
Pages : 0
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Book Description
Author: Alessio M. Pacces
Publisher: Edward Elgar Publishing
ISBN: 1849807086
Category : Law
Languages : en
Pages : 321
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Book Description
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.
Author: Alessio Pacces
Publisher: Routledge
ISBN: 1135099413
Category : Law
Languages : en
Pages : 492
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Book Description
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.
Author: George Dellis
Publisher: Edward Elgar Publishing
ISBN: 1800375794
Category : Law
Languages : en
Pages : 320
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Book Description
This original and insightful book considers the ways in which public law, which emphasises legality (the Demos), and economics, a science oriented towards the markets (the Agora), intertwine. Throughout, George Dellis argues that the concepts of legality and efficiency should not be perceived separately.
Author: Jeffrey N. Gordon
Publisher: Cambridge University Press
ISBN: 9780521536011
Category : Business & Economics
Languages : en
Pages : 396
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Book Description
Corporate governance is on the reform agenda all over the world. How will global economic integration affect the different systems of corporate ownership and governance? Is the Anglo-American model of shareholder capitalism destined to become the template for a converging global corporate governance standard or will the differences persist? This reader contains classic work from leading scholars addressing this question as well as several new essays. In a sophisticated political economy analysis that is also attuned to the legal framework, the authors bring to bear efficiency arguments, politics, institutional economics, international relations, industrial organization, and property rights. These questions have become even more important in light of the post-Enron corporate governance crisis in the United States and the European Union's repeated efforts at corporate integration. This will become a key text for postgraduates and academics.
Author: Thomas Eger
Publisher: Edward Elgar Publishing
ISBN: 1847206972
Category : Law
Languages : en
Pages : 345
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Book Description
This book is an exemplary multi-disciplinary and multi-institutional study of contemporary Chinese law. A collective effort by a group of European and Chinese scholars, it skillfully tests the relationships between law and economics in the Chinese context. The China Journal This is an extremely valuable collection of essays on modern Chinese law viewed through the lens of the law and economics movement. China is developing very rapidly and law is now understood to provide the essential framework for economic development provided the law itself is economically rational. The essays in this volume are excellent examples of how economics can be used to clarify and guide the law applicable to the essential dimensions of the economy. I recommend it wholeheartedly and without reservations. Richard A. Posner, United States Court of Appeals for the Seventh Circuit and University of Chicago Law School, US This book brings together important applications of law and economics to China and covers a wide range of issues, including such basic concerns as property rights, intellectual property, and taxation, as well as competition law and corporate and securities law. Because of its breadth of coverage, its focus on the particulars of Chinese law, and the expertise of its scholars both Western and Chinese it should serve as a valuable reference work for years to come. Steven Shavell, Harvard Law School, US This book is an important step toward a Chinese scholarship in law and economics, written by leading law and economics researchers from China and Europe. Hans-Bernd Schaefer, Universität Hamburg, Germany In China everything is different, you cannot apply ordinary economics and the legal framework is idiosyncratic. In the course of time, such statements turned out to be prejudices, and the Eger/ Faure/ Zhang volume makes perfectly clear that, for instance, a law and economics approach can shed new light into the intricacies and complexities of Chinese institutional arrangements. Indeed, China creates new puzzles for economic and legal analysis. On the other hand, however, the Chinese need not invent the wheel anew and they do not try it. The book shows instances where a sophisticated law and economics approach can help to develop the legal framework which is appropriate for the transition from a planned into a market economy. The Chinese economic system is not (yet) a normal capitalist market economy, neither is the legal system adapted to a normal private property economy. Nevertheless the chapters of the book apply fruitfully law and economics theories and thus prove their general applicability. One of the outstanding achievements of the volume can be seen in the fact that it recruited more than half of its contributors with a Chinese background. They learn eagerly western approaches and they learn fast. And, of course, they have no problems with understanding Chinese culture and society. So the book combines most profitably the look from the outside and the look from within with a common theoretical framework. Hans-Jürgen Wagener, Europa Universität Viadrina, Germany This book comprises contributions on recent developments in China from a law and economics perspective. For the first time Chinese and European scholars jointly discuss some important attributes of China s legal and economic system, and some recent problems, from this particular viewpoint. The authors apply an economic analysis of law not only to general characteristics of China s social order, such as the specific type of federal competition, the efficiency of taxation and regulation, and the importance of informal institutions (Guanxi), but also to distinct areas of Chinese law such as competition policy, professional regulation, corporate governance and capital markets, oil pollution, intellectual property rights and internet games. The contributors discuss to what extent the law and economic models that have so far been employed within the context of deve
Author: Curtis J. Milhaupt
Publisher: University of Chicago Press
ISBN: 0226525295
Category : Law
Languages : en
Pages : 281
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Book Description
Recent high-profile corporate scandals—such as those involving Enron in the United States, Yukos in Russia, and Livedoor in Japan—demonstrate challenges to legal regulation of business practices in capitalist economies. Setting forth a new analytic framework for understanding these problems, Law and Capitalism examines such contemporary corporate governance crises in six countries, to shed light on the interaction of legal systems and economic change. This provocative book debunks the simplistic view of law’s instrumental function for financial market development and economic growth. Using comparative case studies that address the United States, China, Germany, Japan, Korea, and Russia, Curtis J. Milhaupt and Katharina Pistor argue that a disparate blend of legal and nonlegal mechanisms have supported economic growth around the world. Their groundbreaking findings show that law and markets evolve together in a “rolling relationship,” and legal systems, including those of the most successful economies, therefore differ significantly in their organizational characteristics. Innovative and insightful, Law and Capitalism will change the way lawyers, economists, policy makers, and business leaders think about legal regulation in an increasingly global market for capital and corporate governance.
Author: Margaret Oppenheimer
Publisher: Routledge
ISBN: 131746642X
Category : Business & Economics
Languages : en
Pages : 476
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Book Description
The economic analysis of legal and regulatory issues need not be limited to the neoclassical economic approach. The expert contributors to this work employ a variety of heterodox legal-economic theories to address a broad range of legal issues. They demonstrate how these various approaches can lead to very different conclusions concerning the role of the law and legal intervention in a wide array of contexts. The schools of thought and methodologies represented here include institutional economics, new institutional economics, socio-economics, social economics, behavioral economics, game theory, feminist economics, Rawlsian economics, radical economics, Austrian economics, and personalist economics. The legal and regulatory issues examined include anti-trust and competition, corporate governance, the environment and natural resources, land use and property rights, unions and collective bargaining, welfare benefits, work-time regulation and standards, sexual harassment in the workplace, obligations of employers and employees to each other, crime, torts, and even the structure of government. Each contributor brings a different emphasis and provides thoughtful, sometimes provocative analysis and conclusions. Together, these heterodox insights will provide valuable supplementary reading for courses in law and economics as well as public policy and business courses at both the graduate and undergraduate levels.
Author: Alessio M. Pacces
Publisher:
ISBN:
Category :
Languages : en
Pages : 20
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Book Description
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.
Author: A. Mitchell Polinsky
Publisher: Elsevier
ISBN: 0080554237
Category : Law
Languages : en
Pages : 981
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Book Description
Law can be viewed as a body of rules and legal sanctions that channel behavior in socially desirable directions — for example, by encouraging individuals to take proper precautions to prevent accidents or by discouraging competitors from colluding to raise prices. The incentives created by the legal system are thus a natural subject of study by economists. Moreover, given the importance of law to the welfare of societies, the economic analysis of law merits prominent treatment as a subdiscipline of economics. This two volume Handbook is intended to foster the study of the legal system by economists. *The two volumes form a comprehensive and accessible survey of the current state of the field. *Chapters prepared by leading specialists of the area. *Summarizes received results as well as new developments.
