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Articles 1 - 22 of 22
Full-Text Articles in Entire DC Network
Criminal Law And Procedure, Marla G. Decker, Stephen R. Mccullough
Criminal Law And Procedure, Marla G. Decker, Stephen R. Mccullough
University of Richmond Law Review
No abstract provided.
Interpretation And Disclosure In Insurance Contracts, David Schwartz
Interpretation And Disclosure In Insurance Contracts, David Schwartz
David Schwartz
This Essay has two goals: one descriptive and one normative. Descriptively, it explicates the connection between interpretation of insurance contracts and the Insurer’s disclosure duty. Disclosure duties and interpretation rules constitute a two way street. The interpretation of insurance contracts by courts, ex post, influences the incentives of insurance companies to disclose information consumers, ex ante. Correspondingly, the scope of ex ante disclosure by insurance companies impacts the willingness of courts to use overwrite insurance contracts by broadly interpreting provision to increase the liability of insurance companies. To illustrate this claim, the Essay discusses the two principal interpretive tools used …
Corporate Corruption And The Complicity Of Congress And The Supreme Court - The Tortuous Path From Central Bank To Stoneridge Investment Partners, Charles W. Murdock
Corporate Corruption And The Complicity Of Congress And The Supreme Court - The Tortuous Path From Central Bank To Stoneridge Investment Partners, Charles W. Murdock
Charles W. Murdock
The main thrust of this article is that courts and legislatures, particularly the past Republican Congresses and the Supreme Court, as well as lower federal courts, are biased in favor of management; moreover that their failure to hold management to account has emboldened management to engage in illicit behavior and has led to supineness, or worse, by gatekeepers, such as accountants and boards of directors. The willingness of federal courts to disregard blatant corruption and give crooks a free pass by engaging in outcome determinative decision making and strained interpretations of the law is epitomized in the recent decision of …
No More Secret Laws: How Transparency Of Executive Branch Legal Policy Doesn't Let The Terrorists Win, Sudha Setty
No More Secret Laws: How Transparency Of Executive Branch Legal Policy Doesn't Let The Terrorists Win, Sudha Setty
Sudha Setty
The rule of law in a democratic nation demands that the laws governing people are not secret. Yet parts of the executive branch’s legal policy that govern aspects of the current war on terror are laid out in non-public opinions issued the Department of Justice’s Office of Legal Counsel. Many of those opinions, which are almost always binding on the executive branch and are used to provide legal comfort to government officials in the form of protection against future investigation or prosecution, are still secret or were kept secret for years before being leaked or disseminated to Congress and the …
The Effect Of 2005 Bankruptcy Reform On Credit Card Industry Profits And Prices, Michael N. Simkovic
The Effect Of 2005 Bankruptcy Reform On Credit Card Industry Profits And Prices, Michael N. Simkovic
Michael N Simkovic
The U.S. Bankruptcy code changed dramatically with the passage of The Bankruptcy Abuse Prevention and Consumer Protection Act Of 2005. This act increased the costs and decreased the benefits of bankruptcy to consumers. Supporters of the law claimed that it would benefit consumers as well as creditors, because reducing the losses faced by creditors would lower the cost of credit to consumers. Critics of the law depicted it as special interest legislation designed to profit credit card companies at the expense of consumers. This study tests whether the 2005 Bankruptcy Reform: (1) reduced the number of bankruptcies; (2) reduced credit …
Ethics And Disclosure: A Study Of The Financial Performance Of Firms In The Seasoned Equity Offerings Market, Hoje Jo, Yongtae Kim
Ethics And Disclosure: A Study Of The Financial Performance Of Firms In The Seasoned Equity Offerings Market, Hoje Jo, Yongtae Kim
Accounting
In this article, we examine the association between ethics and disclosure and the impact of this association on the long-term, post-issue performance of seasoned equity offerings (SEOs). We argue that firms with extensive disclosure are less likely to face information problems, and more likely to lead to active shareholder monitoring, and therefore, engage in fewer unethical activities, such as aggressive earnings manipulation, and have better long-term, post-issue performance. Consistent with these predictions, this study presents evidence that disclosure is negatively related to unethical earnings manipulation and positively associated with long-term, post-issue performance. In particular, we find that long-term, post-issue SEO …
Mistake And Disclosure In A Model Of Two-Sided Informational Inputs, Michael J. Borden
Mistake And Disclosure In A Model Of Two-Sided Informational Inputs, Michael J. Borden
Law Faculty Articles and Essays
This paper will examine some theoretical aspects of contractual non-disclosure and the related doctrine of unilateral mistake. These two legal rubrics are conceptually similar; each is concerned with the degree to which parties must communicate their understandings about the nature of the contract into which they are about to enter. If one party fails to reveal enough information, the other party may enter into the agreement under a misunderstanding and consequently may attempt to avoid contractual liability on the basis of mistake or on a theory of nondisclosure. The law of contracts clearly attaches a great deal of importance to …
Mistake And Disclosure In A Model Of Two-Sided Informational Inputs, Michael J. Borden
Mistake And Disclosure In A Model Of Two-Sided Informational Inputs, Michael J. Borden
Missouri Law Review
This paper will examine some theoretical aspects of contractual non-disclosure and the related doctrine of unilateral mistake. These two legal rubrics are conceptually similar; each is concerned with the degree to which parties must communicate their understandings about the nature of the contract into which they are about to enter. If one party fails to reveal enough information, the other party may enter into the agreement under a misunderstanding and consequently may attempt to avoid contractual liability on the basis of mistake or on a theory of nondisclosure. The law of contracts clearly attaches a great deal of importance to …
When The Flock Ignores The Shepherd-Corralling The Undisclosed Use Of Video News Releases, Jeffrey Peabody
When The Flock Ignores The Shepherd-Corralling The Undisclosed Use Of Video News Releases, Jeffrey Peabody
Federal Communications Law Journal
Every time you sit down to watch the evening news, you see not only locally produced stories, but also pre-packaged, corporate-sponsored "video news releases" ("VNRs") that are nothing more than commercials in disguise. Unlike political advertising, which must comply with strict sponsorship identification rules, these VNRs remain unregulated. This Note discusses the failed "Truth in Advertising Act," and proposes mandatory disclosure and beefed-up enforcement as necessary steps in stemming the growing use of these "fake news" spots
Evidence On The Audit Risk Model: Do Auditors Increase Audit Fees In The Presence Of Internal Control Deficiencies?, Chris E. Hogan, Michael S. Wilkins
Evidence On The Audit Risk Model: Do Auditors Increase Audit Fees In The Presence Of Internal Control Deficiencies?, Chris E. Hogan, Michael S. Wilkins
School of Business Faculty Research
The article discusses the study of determining whether audit risk model is descriptive of what occurs in the auditing practice or if the relationship between fees and internal control deficiencies (ICDs) suggest that audit enterprises exert more effort in auditing firms that impart ICDs. The study examines the internal controls over financial reporting (ICOFR), generally accepted accounting principles (GAAP), audit risk model, audit fees and sections of Sarbanes-Oxley Act. The study found out that audit fees are significantly higher for firms disclosing material weakness.
The Effect Of Enhanced Disclosure On Open Market Stock Repurchases, Michael N. Simkovic
The Effect Of Enhanced Disclosure On Open Market Stock Repurchases, Michael N. Simkovic
Michael N Simkovic
Publicly traded companies distribute cash to shareholders either through dividends or through anonymous repurchases of the companies’ own stock on the open market. Companies must announce a repurchase authorization, but do not actually have to repurchase any stock, and until recently did not have to disclose whether or not they were in fact repurchasing any stock. Scholars and regulators noticed that companies frequently announced repurchases but then appeared not to complete them. They feared that such announcements might be used by insiders to exploit public investors. To reduce opportunities for exploitive behavior, the SEC required that companies disclose their repurchase …
Mutual Fund Investors: Divergent Profiles, Alan R. Palmiter, Ahmed E. Taha
Mutual Fund Investors: Divergent Profiles, Alan R. Palmiter, Ahmed E. Taha
Ahmed E Taha
Mutual funds are owned by almost half of all U.S. households, manage over $12 trillion dollars in assets, and have become a primary vehicle for retirement and investment savings in the United States. Who are mutual fund investors? The answer is critical to regulatory policy for the mutual fund industry. Fund investors, by selecting the funds in which they invest, play a central role in determining asset allocation and in controlling the fees and expenses that funds charge. Thus, the functioning of the mutual fund market turns on the knowledge and financial sophistication of fund investors.
This article examines the …
What Is This “Lobbying” That We Are So Worried About?, Lloyd Hitoshi Mayer
What Is This “Lobbying” That We Are So Worried About?, Lloyd Hitoshi Mayer
Lloyd Hitoshi Mayer
Lobbying is both an essential part of our democratic process and a source of some of our greatest fears about dangers to that process. Yet when Congress, the public, and scholars consider loosening or, as is more often the case, tightening the restrictions on lobbying, they usually assume that everyone knows what activities are in fact “lobbying.” They therefore overlook the fact that multiple definitions of lobbying currently exist in the various federal laws addressing lobbying. This Article seeks to fill this gap by answering the question of how lobbying should be defined for purposes of the existing federal laws …
Double Helix, Double Standards: Private Matters And Public People, Teneille R. Brown
Double Helix, Double Standards: Private Matters And Public People, Teneille R. Brown
Journal of Health Care Law and Policy
No abstract provided.
Data Security And Tort Liability, Vincent R. Johnson
Data Security And Tort Liability, Vincent R. Johnson
Faculty Articles
Established tort principles carefully applied to the contemporary problems of cybersecurity and identity theft can perform a key role in protecting the economic foundations of modern life. Tort law offers an appropriate legal regime for allocating the risks and spreading the costs of database intrusion-related losses. It can also create incentives, on the part of both database possessors and data subjects, to minimize the harm associated with breaches of database security.
In considering this field of tort law, it is useful to differentiate three questions. The first issue is whether database possessors have a legal duty to safeguard data subjects’ …
The Intersection Between Finance And Intellectual Property: Trade Secrets, Hedge Funds, And Section 13(F) Of The Exchange Act, Erin E. Martin
The Intersection Between Finance And Intellectual Property: Trade Secrets, Hedge Funds, And Section 13(F) Of The Exchange Act, Erin E. Martin
NYLS Law Review
No abstract provided.
Association Between Corporate Disclosure And Information Needs Of Company Annual Report Users In Sri Lanka, Anura De Zoysa
Association Between Corporate Disclosure And Information Needs Of Company Annual Report Users In Sri Lanka, Anura De Zoysa
Faculty of Commerce - Papers (Archive)
This paper examines the extent of disclosures in company annual reports of Sri Lankan listedcompanies and the user perceptions on the importance of information disclosed in company annualreports. For this purpose, annul reports of 65 Sri Lankan listed companies were analysed using adisclosure index. Furthermore, a questionnaire survey was conducted covering seven user groups toexamine the importance they attached to various information items disclosed in company annualreports. The results of the study revealed a fairly high level of overall disclosure (69.8%) in Sri Lankancompany annual reports with 90 per cent of the sample companies disclosing 43 per cent ofinformation items …
Algorithmic Entities, Lynn M. Lopucki
Algorithmic Entities, Lynn M. Lopucki
UF Law Faculty Publications
In a 2014 article, Professor Shawn Bayern demonstrated that anyone can confer legal personhood on an autonomous computer algorithm by putting it in control of a limited liability company. Bayern’s demonstration coincided with the development of “autonomous” online businesses that operate independently of their human owners—accepting payments in online currencies and contracting with human agents to perform the off-line aspects of their businesses. About the same time, leading technologists Elon Musk, Bill Gates, and Stephen Hawking said that they regard human-level artificial intelligence as an existential threat to the human race. This Article argues that algorithmic entities—legal entities that have …
Sarbanes-Oxley, Kermit The Frog, And Competition Regarding Audit Quality, Matthew J. Barrett
Sarbanes-Oxley, Kermit The Frog, And Competition Regarding Audit Quality, Matthew J. Barrett
Journal Articles
The regulatory scheme after Sarbanes-Oxley has significantly improved public company audits in the United States, or at least has demonstrated the potential to do so, but the obligation to preserve client confidentially still prevents auditors from competing for new clients on the basis of audit quality. This paper suggests a simple way for the SEC to facilitate such competition within the existing regulatory framework. The SEC should require issuers and registrants to disclose whether their independent audits uncovered any financial fraud and, within specified ranges, the number and amount of all audit adjustments incorporated into the financial statements filed with …
Behaviorally Informed Financial Services Regulation, Michael S. Barr, Sendhil Mullainathan, Eldar Shafir
Behaviorally Informed Financial Services Regulation, Michael S. Barr, Sendhil Mullainathan, Eldar Shafir
Other Publications
Financial services decisions can have enourmous consequences for household well-being. Households need a range of financial services - to conduct basic transactions, such as receiving their income, storing it, and paying bills; to save for emergency needs and long-term goals; to access credit; and to insure against life's key risks. But the financial services system is exceedingly complicated and often not well-designed to optimize house-hold behavior. In response to the complexity of out financial system, there has been a long running debate about the appropriate role and form of regulation. Regulation is largely stuck in two competing models - disclosure, …
Heightened Enablement In The Unpredictable Arts, Sean B. Seymore
Heightened Enablement In The Unpredictable Arts, Sean B. Seymore
Vanderbilt Law School Faculty Publications
A bedrock principle of patent law is that an applicant must sufficiently disclose the invention in exchange for the right to exclude. The essential facet of the disclosure requirement is enablement, which compels a patent applicant to enable a person having ordinary skill in the art (PHOSITA) how to make and use the full scope of the claimed invention without undue experimentation. Enablement problems may arise when the applicant claims an invention broadly with a dearth of supporting data or examples. This is problematic in unpredictable fields like chemistry because a PHOSITA often needs a specific and detailed teaching in …
An Opt-Out Home Mortgage System, Michael S. Barr, Sendhil Mullainathan, Eldar Shafir
An Opt-Out Home Mortgage System, Michael S. Barr, Sendhil Mullainathan, Eldar Shafir
Other Publications
The current housing and financial crisis has led to significant congressional and executive action to manage the crisis and stem the harms from it, but the fundamental problems that caused the crisis remain largely unaddressed. The central features of the industrial organization of the mortgage market with its misaligned incentives, and the core psychological and behavioral phenomena that drive household financial decisionmaking remain. While the causes of the mortgage meltdown are myriad and the solutions likely to be multifaceted, a central problem that led to the crisis was that brokers and lenders offered loans that looked much less expensive and …