Annual Members Meeting 2015

Annual Members Meeting 2015

  • 07 - 08 May 2015
  • Olso, Norway

Thanks to the generosity of Professor Øyvind Bøhren, Professor of Financial Economics at the Norwegian Business School, the General Assembly took place at the BI on Friday morning, followed by the 2015 ECGI Annual Lecture and the announcement of the winners of the 2015 Working Paper prizes. Professor Julian Franks, Professor of Finance at the London Business School and an ECGI Fellow, gave the lecture on the topic The Privatization of Bankruptcy: Evidence from the Shipping Industry.

2015 Working Paper Prize-giving:

The Standard Life Investments Finance Prize was won by Alexander Borisov (University of Cincinnati), Eitan Goldman (Indiana University and ECGI), and Nandini Gupta (Indiana University) for:

The Corporate Value of (Corrupt) Lobbying (ECGI Finance Working Paper No. 423/2014)

The Allen & Overy Law Prize was won by Mark Roe (Harvard University and ECGI) for:

Structural Corporate Degradation Due to Too-Big-to-Fail Finance (ECGI Law Working Paper No. 253/2014)

Information

Address:
BI Norwegian Business School, Oslo
Contact:
Elaine McPartlan
European Corporate Governance Institute (ECGI)

7 May - Day 1

19:00

ECGI Annual Dinner

8 May - Day 2

09:00
- 10:30

Annual General Meeting - Norwegian Business School (BI)

11:00
- 12:15

Annual Lecture 2015: “The Privatization of Bankruptcy: Evidence from the Shipping Industry” - Professor Julian Franks

Speakers:
Discussant:
Back to full programme

Annual Lecture 2015: “The Privatization of Bankruptcy: Evidence from the Shipping Industry” - Professor Julian Franks

Time:
11:00h
- 12:15h

“There is only one law in shipping: there is no law in shipping” Sami Ofer (shipping magnate)

Most countries limit freedom of contracting in bankruptcy through mandatory procedures. These state-mandated procedures are justified on the grounds of costly co-ordination failures between creditors. While co-ordination failures are costly, so are limits placed on the freedom to contract. Unfortunately, we have little evidence of how a freedom-of-contracting approach in distress and bankruptcy would work and its comparative efficiency. Professor Franks' lecture will be based on his study co-authored by Oren Sussman of the Said Business School and Vikrant Vig of the London Business School which attempts to fill this gap by examining the shipping industry. Because of the ex-territorial nature of its assets, the resolution of financial distress is largely resolved without resort to national bankruptcy codes. The unregulated nature of the industry makes shipping a unique natural experiment with spontaneous order that evolves from a decentralised development of market-based institutions.

Speakers

Discussants

12:15
- 12:45

ECGI 2015 Working Paper Prizes (Law & Finance)

Back to full programme

ECGI 2015 Working Paper Prizes (Law & Finance)

Time:
12:15h
- 12:45h

Following the lecture, ECGI awarded two research prizes for the best papers in the Finance and Law Working Paper Series’ from the previous year.

The Finance Series prize of €5,000 is sponsored by Standard Life Investments, the global asset manager, was awarded to Alexander Borisov (University of Cincinnati), Eitan Goldman (Indiana University and ECGI), and Nandini Gupta (Indiana University) for their paper on "The Corporate Value of (Corrupt) Lobbying" (ECGI Finance Working Paper No. 423/2014).

The Law Series prize of €5,000 is sponsored by Allen & Overy, the international law firm, was awarded to Mark Roe (Harvard University and ECGI) for his paper on Structural Corporate Degradation Due to Too-Big-to-Fail Finance (ECGI Law Working Paper No. 253/2014).

See Harvard announcement.

Speakers

Presentations

Annual Lecture 2015: “The Privatization of Bankruptcy: Evidence from the Shipping Industry” - Professor Julian Franks

Back to all presentations

Annual Lecture 2015: “The Privatization of Bankruptcy: Evidence from the Shipping Industry” - Professor Julian Franks

Time:
11:00h
- 12:15h

“There is only one law in shipping: there is no law in shipping” Sami Ofer (shipping magnate)

Most countries limit freedom of contracting in bankruptcy through mandatory procedures. These state-mandated procedures are justified on the grounds of costly co-ordination failures between creditors. While co-ordination failures are costly, so are limits placed on the freedom to contract. Unfortunately, we have little evidence of how a freedom-of-contracting approach in distress and bankruptcy would work and its comparative efficiency. Professor Franks' lecture will be based on his study co-authored by Oren Sussman of the Said Business School and Vikrant Vig of the London Business School which attempts to fill this gap by examining the shipping industry. Because of the ex-territorial nature of its assets, the resolution of financial distress is largely resolved without resort to national bankruptcy codes. The unregulated nature of the industry makes shipping a unique natural experiment with spontaneous order that evolves from a decentralised development of market-based institutions.

Speakers

Discussants

ECGI 2015 Working Paper Prizes (Law & Finance)

Back to all presentations

ECGI 2015 Working Paper Prizes (Law & Finance)

Time:
12:15h
- 12:45h

Following the lecture, ECGI awarded two research prizes for the best papers in the Finance and Law Working Paper Series’ from the previous year.

The Finance Series prize of €5,000 is sponsored by Standard Life Investments, the global asset manager, was awarded to Alexander Borisov (University of Cincinnati), Eitan Goldman (Indiana University and ECGI), and Nandini Gupta (Indiana University) for their paper on "The Corporate Value of (Corrupt) Lobbying" (ECGI Finance Working Paper No. 423/2014).

The Law Series prize of €5,000 is sponsored by Allen & Overy, the international law firm, was awarded to Mark Roe (Harvard University and ECGI) for his paper on Structural Corporate Degradation Due to Too-Big-to-Fail Finance (ECGI Law Working Paper No. 253/2014).

See Harvard announcement.