Company Law

Working Paper

07 December 2017

Opportunity Makes a Thief: Corporate Opportunities as Legal Transplant and Convergence in Corporate Law

The paper surveys the corporate opportunities doctrine in four jurisdictions: the US, the UK, Germany, and France. Our analysis enables us to trace the development of the doctrine, exposing the way in which certain models of dealing...

Martin Gelter | Geneviève Helleringer
16 April 2018

Loyalty Shares with Tenure Voting - Does the Default Rule Matter? Evidence from the Loi Florange Experiment

The contractual theory of the firm predicts that companies adopt charters that maximise firm value, regardless of the default rule. We test this proposition around an exogenous switch of the default from one share-one vote to tenure...

Marco Becht | Yuliya Kamisarenka | Anete Pajuste
01 August 2016

Corporate Disruption: The Law and Design of Organizations in the 21st Century

This paper explores the issue of ?re-making? corporate law through the prism of the United Nations? recent efforts at reducing legal obstacles experienced by micro, small and medium-sized enterprises in starting and scaling a...

J. William Callison | Mark Fenwick | Joseph McCahery | Erik Vermeulen
01 May 2011

The Relation between Firm-Level Corporate Governance and Market Value: A Study of India

Relatively little is known about the corporate governance practice of firms in emerging markets. We provide a detailed overview of the practices of publicly traded firms in India, and identify areas where governance practices are...

Bala Balasubramanian | Bernard Black | Vikramaditya Khanna
01 February 2015

Centros, the Freedom of Establishment for Companies, and the Court's Accidental Vision for Corporate Law

In consequence of the three ECJ cases in Centros (1999), Überseering (2002), and Inspire Art (2003), EU member states can no longer effectively apply the real seat theory to companies from other Member States or take other measures to...

Martin Gelter
01 February 2014

Empirical Analysis of Legal Institutions and Institutional Change: Multiple-Methods Approaches and Their Application to Corporate Governance Research

The claim that institutions matter for economic growth and development has so far received a more extensive theoretical treatment than an empirical or methodological one. Basing our approach on a co-evolutionary conception of...

John Buchanan | Dominic Heesang Chai | Simon Deakin

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