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Articles 1 - 9 of 9
Full-Text Articles in Securities Law
La Cesión De Derechos En El Código Civil Peruano, Edward Ivan Cueva
La Cesión De Derechos En El Código Civil Peruano, Edward Ivan Cueva
Edward Ivan Cueva
La Cesión de Derechos en el Código Civil Peruano
What's Good For The Goose Is Not Good For The Gander: Sarbanes-Oxley-Style Nonprofit Reforms, Lumen N. Mulligan
What's Good For The Goose Is Not Good For The Gander: Sarbanes-Oxley-Style Nonprofit Reforms, Lumen N. Mulligan
Faculty Works
In this article, I contend that these Sarbanes-Oxley-inspired, state, nonprofit reforms, particularly the costly disclosure requirements, will be of little value in the effort to improve ethical nonprofit board governance. The article proceeds as follows. Part II provides a primer on the oversight of nonprofit organizations. Part III reviews the recent Sarbanes-Oxley-like nonprofit reforms introduced in seven states. Part IV contends that the disclosure-focused reforms, which form the bulwark of these acts, will not foster ethical nonprofit board governance. Part V argues that this failure stems from the inappropriate application of a stockholder-based, normative perspective in the nonprofit sector. The …
The Economic Impact Of Backdating Of Executive Stock Options, M. P. Narayanan, Cindi A. Schipani, H. Nejat Seyhun
The Economic Impact Of Backdating Of Executive Stock Options, M. P. Narayanan, Cindi A. Schipani, H. Nejat Seyhun
Michigan Law Review
This Article discusses the economic impact of legal, tax, disclosure, and incentive issues arising from the revelation of dating games with regard to executive option grant dates. It provides an estimate of the value loss incurred by shareholders of firms implicated in backdating and compares it to the potential gain that executives might have obtained through backdating. Using a sample of firms that have already been implicated in backdating, we find that the revelation of backdating results in an average loss to shareholders of about 7%. This translates to about $400 million per firm. By contrast, we estimate that the …
Segundo Congreso Nacional De Organismos Públicos Autónomos, Bruno L. Costantini García
Segundo Congreso Nacional De Organismos Públicos Autónomos, Bruno L. Costantini García
Bruno L. Costantini García
Memorias del Segundo Congreso Nacional de Organismos Públicos Autónomos. "Autonomía, Profesionalización, Control y Transparencia"
Algunos Apuntes En Torno A La Prescripción Extintiva Y La Caducidad, Edward Ivan Cueva
Algunos Apuntes En Torno A La Prescripción Extintiva Y La Caducidad, Edward Ivan Cueva
Edward Ivan Cueva
No abstract provided.
The Pension Protection Act Of 2006: An Overview Of Sweeping Changes In The Law Governing Retirement Plans, 40 J. Marshall L. Rev. 843 (2007), Craig C. Martin, Joshua Rafsky
The Pension Protection Act Of 2006: An Overview Of Sweeping Changes In The Law Governing Retirement Plans, 40 J. Marshall L. Rev. 843 (2007), Craig C. Martin, Joshua Rafsky
UIC Law Review
No abstract provided.
Stapled Securities--"The Next Big Thing" For Income Trusts? Useful Lessons From The Us Experience With Stapled Shares, Reuven S. Avi-Yonah, Tim Edgar, Fadi Shaheen
Stapled Securities--"The Next Big Thing" For Income Trusts? Useful Lessons From The Us Experience With Stapled Shares, Reuven S. Avi-Yonah, Tim Edgar, Fadi Shaheen
Articles
The Department of Finance has introduced two separate sets of legislation that together attempt to limit demand in the income trust market (though with very different revenue consequences). However, neither the proposed legislation nor the existing Income Tax Act contains an equity recharacterization rule. Consequently, the tax results associated with the standard income trust and royalty trust structures can still be realized with direct holding structures, in which the use of a trust as a pooling mechanism is eliminated and investors hold directly a combination of high-yield junk debt and a specified number of shares of the issuer. Until now, …
Much Ado About The Meaning Of "Benefit Accrual": The Issue Of Age Discrimination In Hybrid Cash Balance Plan Qualification Is Dying But Not Yet Dead, 40 J. Marshall L. Rev. 867 (2007), Barry Kozak, Joshua Waldbeser
Much Ado About The Meaning Of "Benefit Accrual": The Issue Of Age Discrimination In Hybrid Cash Balance Plan Qualification Is Dying But Not Yet Dead, 40 J. Marshall L. Rev. 867 (2007), Barry Kozak, Joshua Waldbeser
UIC Law Review
No abstract provided.
Financial Accounting And Corporate Behavior, David I. Walker
Financial Accounting And Corporate Behavior, David I. Walker
Faculty Scholarship
The power of financial accounting to shape corporate behavior is underappreciated. Positive accounting theory teaches that even cosmetic changes in reported earnings can affect share value, not because market participants are unable to see through such changes to the underlying fundamentals, but because of implicit or explicit contracts that are based on reported earnings and transaction costs. However, agency theory suggests that accounting choices and corporate responses to accounting standard changes will not necessarily be those that maximize share value. For a number of reasons, including the fact that executive compensation often is tied to reported earnings, managerial preferences for …