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The Hidden Costs Of Private Benefits Of Control: Value Shift And Efficiency, Hyun-Chul Lee
The Hidden Costs Of Private Benefits Of Control: Value Shift And Efficiency, Hyun-Chul Lee
Hyun-Chul Lee
This paper relates the two regimes governing control transfer to the adverse impacts that private benefits of control have on IPOs. Merely the value-transfer nature of private benefits alone may stymie efficient IPOs because of the wedge between the discount for private benefits in pricing and what the initial owner will eventually capture. Irrelevance of the value-shift nature to the initial owner’s payoffs serves efficient IPOs. This paper shows separate mechanisms by which the two rules generate such wedge. The Market Rule allows increase in private benefits via control transfer, causing discount with maximum ceiling of private benefits. To offset …
Reconciling (Or Failing To Reconcile) Regulatory Differences: The Ongoing Transatlantic Dispute Over The Reculation Of Biotechnology, Gregory C. Shaffer
Reconciling (Or Failing To Reconcile) Regulatory Differences: The Ongoing Transatlantic Dispute Over The Reculation Of Biotechnology, Gregory C. Shaffer
Gregory C Shaffer
No abstract provided.
Strangers In A Strange Land - Transnational Litigation, Foreign Judgment Recognition, And Enforcement In Ontario, Antonin I. Pribetic
Strangers In A Strange Land - Transnational Litigation, Foreign Judgment Recognition, And Enforcement In Ontario, Antonin I. Pribetic
Antonin I. Pribetic
Well into the new millennium, the landscape of international business commerce continues to change dramatically. As many companies expand into global markets, the extant business reality of prosecuting or defending lawsuits arises from companies relying upon standard or boiler plate contracts or invoices when selling goods and services to customers or buying products from suppliers or third parties. This article discusses transnational contractual and litigation issues in Canada, with specific application to the province of Ontario. This article first addresses, from an Ontario company perspective, the importance of incorporating choice of forum, choice of law, and time of the essence …