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Business Law, Public Responsibility, and Ethics Commons

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Full-Text Articles in Business Law, Public Responsibility, and Ethics

The Legal Periphery Of Dominant Firm Conduct, Herbert J. Hovenkamp Sep 2007

The Legal Periphery Of Dominant Firm Conduct, Herbert J. Hovenkamp

Faculty Scholarship at Penn Law

This essay explores two different but related problems and how U.S. antitrust law and EU competition law approach them. The first is the offense of attempt to monopolize, which concerns the acts that a firm that is not yet dominant might undertake in order to become dominant. The second is the offense of monopoly or dominant firm leveraging, which occurs when a firm uses its dominant position in one market to cause some kind of harm in a different market where it also does business.

The language of EU and U.S. provisions concerning dominant firms provokes one to ...


Criminalization Of Corporate Law: The Impact On Shareholders And Other Constituents, Jill E. Fisch Jan 2007

Criminalization Of Corporate Law: The Impact On Shareholders And Other Constituents, Jill E. Fisch

Faculty Scholarship at Penn Law

No abstract provided.


Fiduciary Duties And The Analyst Scandals, Jill E. Fisch Jan 2007

Fiduciary Duties And The Analyst Scandals, Jill E. Fisch

Faculty Scholarship at Penn Law

No abstract provided.


Does Analyst Independence Sell Investors Short?, Jill E. Fisch Jan 2007

Does Analyst Independence Sell Investors Short?, Jill E. Fisch

Faculty Scholarship at Penn Law

Regulators responded to the analyst scandals of the late 1990s by imposing extensive new rules on the research industry. These rules include a requirement forcing financial firms to separate investment banking operations from research. Regulators argued, with questionable empirical support, that the reforms were necessary to eliminate analyst conflicts of interest and ensure the integrity of sell-side research.

By eliminating investment banking revenues as a source for funding research, the reforms have had substantial effects. Research coverage of small issuers has been dramatically reduced—the vast majority of small capitalization firms now have no coverage at all. The market for ...