Regulation

Working Paper

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
08 July 2019

Regulatory and Market Challenges of Initial Coin Offerings

This article analyzes the main problems and the solutions adopted in the market for Initial Coin Offerings (ICO), an alternative financing solution that has experienced spectacular growth and notoriety in recent years. This market...

Pablo de Andrés | David Arroyo | Ricardo Correia | Alvaro Rezola
27 May 2019

Centros, California’s “Women on Boards” Statute and the Scope of Regulatory Competition

In its 1999 Centros decision, the European Court of Justice affirmed that the EU right of establishment protects a corporation’s right to select a state of incorporation. Specifically, Centros rejected the argument that, under the...

Jill Fisch | Steven Davidoff Solomon
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

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