Regulation

Working Paper

22 January 2018

Skin-in-the-Game in ABS Transactions: A Critical Review of Policy Options

In response to the financial crisis, as a way to align incentives of originators and investors, new regulation in the US (Dodd-Frank) and the EU (CRR) requires issuers of asset backed securities to hold some skin-in-the-game, offering a...

Jan Pieter Krahnen | Christian Wilde
01 March 2019

Firms’ Rationales for CEO Duality: Evidence from a Mandatory Disclosure Regulation

Exploiting the 2009 amendments to Regulation S-K, we provide unique evidence on the first-time disclosure of the reasons firms state for combining (separating) the roles of CEO and chairman. The stated reasons support both agency...

Marc Goergen | Peter Limbach | Meik Scholz-Daneshgari
20 December 2018

The End of “Corporate” Governance (Hello “Platform” Governance)

In a technology-driven, digital world, many of the largest and most successful businesses now operate as “platforms.” Such firms leverage networked technologies to facilitate economic exchange, transfer information, connect...

Mark Fenwick | Joseph McCahery | Erik Vermeulen
22 November 2018

Is it Worthwhile to Augment the Legal Protection of Public Debt Placed by Privately Held Companies?

We examine the effects of a law amendment in Israel in 2011 that imposes a set of minimum corporate governance standards on privately held firms that issue publicly traded bonds. Two main results emerge. First, consistent with US...

Keren Bar-Hava | Roi Katz | Beni Lauterbach
07 May 2018

Collateral Damage: Brexit's Negative Effects on Regulatory Competition and Legal Innovation in Private Law

This article attempts to assess the consequences of Brexit for English and European private law. More specifically, I am interested in how the level of legal innovation in private law will be influenced by Brexit. I argue that Brexit will...

Horst Eidenmüller
26 April 2018

Evidence-Based Policymaking: Promise, Challenges and Opportunities for Accounting and Financial Markets Research

The use of evidence and economic analysis in policymaking is on the rise, and accounting standard setting and financial regulation are no exception. This article discusses the promise of evidence-based policymaking in accounting and...

Christian Leuz
29 January 2018

Be Careful What You Wish For: How Progress Engendered Regression in Related Party Transaction Regulation in Israel

The regulation of related party transactions (RPTs) is today the single most important yardstick for the quality of corporate governance systems. It is also one of the thorniest issues because RPTs are a well-documented cause of abuse...

Amir Licht

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