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Full-Text Articles in Law
The Influence Of Law And Economics On Law And Accounting: Two Steps Forward, One Step Back, Lawrence A. Cunningham
The Influence Of Law And Economics On Law And Accounting: Two Steps Forward, One Step Back, Lawrence A. Cunningham
GW Law Faculty Publications & Other Works
Theory can have profound effects on practice, some intended and desirable, others unintended and undesirable. That's the story of the influence the field of law and economics has had on the domain of law and accounting. That influence comes primarily from agency theory and modern finance theory, specifically through the efficient capital market hypothesis and capital asset pricing model. Those theories have forged considerable change in federal securities regulation, accounting standard setting, state corporation law, and financial auditing. Affected areas include the nature of disclosure, the measure of financial concepts, the limits of shareholder protection, and the scope of auditor …
The Last Days Of The American Lawyer, Thomas D. Morgan
The Last Days Of The American Lawyer, Thomas D. Morgan
GW Law Faculty Publications & Other Works
An historic transformation is underway in the legal profession. It began about 40 years ago, but it has accelerated and became painfully evident by 2009. These are the “last days” of the American lawyer we once new. This paper, based on the new book, The Vanishing American Lawyer (Oxford 2010) by the same author, documents the progress and direction of the transformation.
Educating Lawyers For The Future Legal Profession, Thomas D. Morgan
Educating Lawyers For The Future Legal Profession, Thomas D. Morgan
GW Law Faculty Publications & Other Works
What today's law students do as lawyers will be profoundly affected by changes their clients experience. Clients are likely to face more global competition than earlier generations could imagine, and they are likely to value lawyers who understand the non-legal aspects of their problems. Tomorrow's lawyers are likely to have to be more specialized than their predecessors, and many will deliver services that are less personal, more commodity-like, and less financially rewarding. Legal education, in turn, faces challenges producing lawyers capable of functioning in that world. Future lawyers will have to be simultaneously more specialized and more capable of responding …