Social and Behavioral Sciences Commons^™

Corporate Reorganisation Of China's Listed Companies: Winners And Losers, Zinian Zhang

Research Collection Yong Pung How School Of Law

This article is the first empirical study investigating the corporate reorganisation of Chinese domestically-listed companies. Through examining these cases, it challenges the assertion made by most of these corporate reorganisation plans and by Chinese state-run media reports that creditors and general public shareholders were the major beneficiaries. Through an analysis of the data generated from all forth-three such cases, this articles reveals that: First, unsecured creditors could have, on average, received 61.37% more of their claims if the fundamental value distribution principle, the absolute priority norm, could have been complied with in these reorganisations; Second, if the general-public-shareholder-protection scheme issued …

From Promise To Form: How Contracting Online Changes Consumers, David A. Hoffman

All Faculty Scholarship

I hypothesize that different experiences with online contracting have led some consumers to see contracts—both online and offline—in distinctive ways. Experimenting on a large, nationally representative sample, this paper provides evidence of age-based and experience-based differences in views of consumer contract formation and breach. I show that younger subjects who have entered into more online contracts are likelier than older ones to think that contracts can be formed online, that digital contracts are legitimate while oral contracts are not, and that contract law is unforgiving of breach.

I argue that such individual differences in views of contract formation and enforceability …

Is Government Really Broken?, Cary Coglianese

University of Pennsylvania Journal of Law and Public Affairs

The widespread public angst that surfaced around the 2016 presidential election in the United States revealed that many Americans believe their government has become badly broken. Given the serious problems that continue to persist in society—crime, illiteracy, unemployment, poverty, discrimination, and more—these beliefs in a government breakdown are understandable. Yet a breakdown is actually far from self-evident. In this paper, I explain how diagnoses of governmental performance depend on the perspective from which current conditions in the country are viewed. Certainly when judged against a standard of perfection, America has a long way to go. But perfection is no meaningful …