Regulation

Working Paper

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
02 September 2019

Value of Politically Connected Independent Directors: Evidence from the Anti-Corruption Campaign in China

A new regulation issued in the end of 2013 as part of the anti-corruption campaign in China leads to a wave of resignation of politically connected independent directors (PCID). I find while firms with PCIDs have...Read more

Chang Zhang
13 November 2019

Implicit Communication and Enforcement of Corporate Disclosure Regulation

The communication of non-public information in private meetings between corporate officials and financial analysts presents a distinctive regulatory challenge. One reason is that there typically is no record of what transpires in a...

Ashiq Ali | Jill Fisch | Hoyoun Kyung

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