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Full-Text Articles in Comparative and Foreign Law
Private Regulation Of Insider Trading In The Shadow Of Lax Public Enforcement: Evidence From Canadian Firms, Laura Nyantung Beny, Anita Anand
Private Regulation Of Insider Trading In The Shadow Of Lax Public Enforcement: Evidence From Canadian Firms, Laura Nyantung Beny, Anita Anand
Articles
Like firms in the United States, many Canadian firms voluntarily restrict trading by corporate insiders beyond the requirements of insider trading laws (i.e., super-compliance). Thus, we aim to understand the determinants of firms’ private insider trading policies (ITPs), which are quasi-contractual devices. Based on the assumption that firms that face greater costs from insider trading (or greater benefits from restricting insider trading) ought to be more inclined than other firms to adopt more stringent ITPs, we develop several testable hypotheses. We test our hypotheses using data from a sample of firms included in the Toronto Stock Exchange/Standard and Poor’s (TSX/S&P) …
Corporate Taxation And International Charter Competition, Mitchell A. Kane, Edward B. Rock
Corporate Taxation And International Charter Competition, Mitchell A. Kane, Edward B. Rock
Michigan Law Review
Corporate charter competition has become an increasingly international phenomenon. The thesis of this Article is that this development in corporate law requires a greater focus on corporate tax law. We first demonstrate how a tax system's capacity to distort the international charter market depends both upon its approach to determining corporate location and upon the extent to which it taxes foreign source corporate profits. We also show, however, that it is not possible to remove all distortions through modifications to the tax system alone. We present instead two alternative methods for preserving an international charter market. The first-best solution involves …
Canada's Foreign Investment Review Act And The Problem Of Industrial Policy, James M. Spence Q.C.
Canada's Foreign Investment Review Act And The Problem Of Industrial Policy, James M. Spence Q.C.
Michigan Journal of International Law
The purpose of this article is to consider the Foreign Investment Review Act (FIRA or the Act) of Canada in the context of the continuing discussion in North America of the concept of "industrial policy." The particular version of industrial policy of interest for this purpose is the concept which involves interventionist activity by the government designed to affect directly the economic activity of an industry, company, or plant. The first part of the article briefly describes the background and operation of FIRA. The second part comments on the concept of interventionist industrial policy as it has developed in Canada. …