Open Access. Powered by Scholars. Published by Universities.®

Law and Economics Commons

Open Access. Powered by Scholars. Published by Universities.®

6191 Full-Text Articles 3414 Authors 2566915 Downloads 135 Institutions

All Articles in Law and Economics

Faceted Search

6191 full-text articles. Page 2 of 162.

The Modigliani-Miller Theorem At 60: The Long-Overlooked Legal Applications Of Finance’S Foundational Theorem, Michael S. Knoll 2017 University of Pennsylvania Law School

The Modigliani-Miller Theorem At 60: The Long-Overlooked Legal Applications Of Finance’S Foundational Theorem, Michael S. Knoll

Faculty Scholarship

2018 marks the 60th anniversary of the publication of Franco Modigliani and Merton Miller’s The Cost of Capital, Corporation Finance, and the Theory of Investment. Widely hailed as the foundation of modern finance, their article, which purports to demonstrate that a firm’s value is independent of its capital structure, is little known by lawyers, including legal academics. That is unfortunate because the Modigliani-Miller capital structure irrelevancy proposition (when inverted) provides a framework that can be extremely useful to legal academics, practicing attorneys and judges.


Análisis De La Propuesta De Regulación De La Hipoteca Inversa En Perú, Paul Cajacuri Jancachagua 2017 Universidad Nacional Mayor de San Marcos

Análisis De La Propuesta De Regulación De La Hipoteca Inversa En Perú, Paul Cajacuri Jancachagua

Paul Cajacuri Jancachagua

Actualmente se encuentra en evaluación la incorporación a nuestro sistema legal-financiero, una nueva modalidad de crédito con garantía hipotecaria denominada Hipoteca Inversa.
La presente es una presentación promovida por el Grupo de Estudios de Derecho Inmobiliario-GEDI de la UNMSM, donde el autor debatió tal propuesta de incorporación.


Crime, Punishment And The Value Of Corporate Social Responsibility, Inessa Liskovich 2017 University of Texas at Austin

Crime, Punishment And The Value Of Corporate Social Responsibility, Inessa Liskovich

Law, Economics, & Business Workshop

No abstract provided.


Slicing And Dicing: The Structural Problems Of The Tax Reform Framework, Reuven S. Avi-Yonah 2017 University of Michigan Law School

Slicing And Dicing: The Structural Problems Of The Tax Reform Framework, Reuven S. Avi-Yonah

Law & Economics Working Papers

The “Unified Framework for Fixing Our Broken Tax Code” (the “Framework”) released by the “Big Six” group of Treasury, White House and Congressional leaders on September 27 has been the focus of a lot of commentary. Most of the comments have focused on the distributive aspects of the plan and on the proposed rate structure, as well as the impact on revenues and the federal deficit. In this comment, I plan to focus instead on the structural aspects of the plan and in particular on the various new lines that it draws, because these are more likely to be lasting.


Horizontal Shareholding And Antitrust Policy, Fiona M. Scott Morton, Herbert J. Hovenkamp 2017 Yale University

Horizontal Shareholding And Antitrust Policy, Fiona M. Scott Morton, Herbert J. Hovenkamp

Faculty Scholarship

“Horizontal shareholding” occurs when one or more equity funds own shares of competitors operating in a concentrated product market. For example, the four largest mutual fund companies might be large shareholders of all the major United States air carriers. A growing body of empirical literature concludes that under these conditions market output in the product market is lower and prices higher than they would otherwise be.

Here we consider how the antitrust laws might be applied to this practice, identifying the issues that courts are likely to encounter and attempting to anticipate litigation problems. We assume that neither the mutual ...


Remembering An Abolitionist, Ambassador John R. Miller (May 23, 1938-October 4, 2017), Eleanor Kennelly Gaetan, Donna M. Hughes 2017 Frontline Reports Editor, Dignity

Remembering An Abolitionist, Ambassador John R. Miller (May 23, 1938-October 4, 2017), Eleanor Kennelly Gaetan, Donna M. Hughes

Dignity: A Journal on Sexual Exploitation and Violence

A memorial for Ambassador-at-Large to Monitor and Combat Trafficking in Persons, John R. Miller (May 23, 1938-October 4, 2017). Ambassador Miller believed modern-day slavery, encompassing sex trafficking and forced labor, requires a principled global offensive that the United States is morally obligated to lead. In the four formative years he led the State Department’s Office to Monitor and Combat Trafficking in Persons, 2002 to 2006, John Miller set the office’s course as diplomatically aggressive and programmatically creative. He made the annual Trafficking in Persons report more than a bureaucratic submission, putting daring heroes at the center, and insisting ...


Antitrust Policy And Inequality Of Wealth, Herbert J. Hovenkamp 2017 University of Pennsylvania Law School

Antitrust Policy And Inequality Of Wealth, Herbert J. Hovenkamp

Faculty Scholarship

Why would anyone want to use antitrust law as a wealth distribution device when far more explicit statutory tools are available for that purpose? One feature of antitrust is its open-textured, nonspecific statutes that are interpreted by judges. As a result, using antitrust to redistribute wealth may be a way of invoking the judicial process without having to go to Congress or a state legislature that is likely to be unsympathetic. Of course, a corollary is that someone attempting to use antitrust law to redistribute wealth will have to rely on the existing antitrust statutes rather than obtaining a new ...


New Dimensions In Economic Analysis Of Legal Issues: The Appropriate Regulatory Balance Of Antitrust Law In The Context Of The Technological Innovation, Jungmi Bang 2017 Indiana University Maurer School of Law

New Dimensions In Economic Analysis Of Legal Issues: The Appropriate Regulatory Balance Of Antitrust Law In The Context Of The Technological Innovation, Jungmi Bang

Theses and Dissertations

The role of Empirical study in legal decision, even in the rule making, was increased by the economic development with the occurrence of economic realism. The incensement of economic implication of the law, without exception, impacted to the court’s ruling in the antitrust case and the antitrust law-making itself. Now it is one of the common way, court use concepts and theories developed by economists and weaves economic concepts into decisions to support their result.

The classical perspective of economic theories regarding antitrust law was start from early theorist Adam Smith in 1776, even it denied the economic implication ...


Is Say On Pay All About Pay? The Impact Of Firm Performance, Jill E. Fisch, Darius Palia, Steven Davidoff Solomon 2017 University of Pennsylvania Law School

Is Say On Pay All About Pay? The Impact Of Firm Performance, Jill E. Fisch, Darius Palia, Steven Davidoff Solomon

Faculty Scholarship

The Dodd-Frank Act of 2010 mandated a number of regulatory reforms including a requirement that large U.S. public companies provide their shareholders with the opportunity to cast a non-binding vote on executive compensation. The “say on pay” vote was designed to rein in excessive levels of executive compensation and to encourage boards to adopt compensation structures that tie executive pay more closely to performance. Although the literature is mixed, many studies question whether the statute has had the desired effect. Shareholders at most companies overwhelmingly approve the compensation packages, and pay levels continue to be high.

Although a lack ...


Corporate Cash Shortfalls And Financing Decisions, Jay R. Ritter 2017 University of Florida

Corporate Cash Shortfalls And Financing Decisions, Jay R. Ritter

Law, Economics, & Business Workshop

No abstract provided.


Synthetic Credit Ratings And The Inefficiency Of Agency Ratings, Doron Nissim 2017 Columbia Business School

Synthetic Credit Ratings And The Inefficiency Of Agency Ratings, Doron Nissim

Law, Economics, & Business Workshop

No abstract provided.


Persistent Operating Losses And Corporate Financial Policies, Stephen B. McKeon 2017 University of Oregon

Persistent Operating Losses And Corporate Financial Policies, Stephen B. Mckeon

Law, Economics, & Business Workshop

No abstract provided.


Unequal Justice For The Poor: Theory, Research, And Commentary, Mitchell S. G. Klein, Walter J. Burkard 2017 St. John's University School of Law

Unequal Justice For The Poor: Theory, Research, And Commentary, Mitchell S. G. Klein, Walter J. Burkard

The Catholic Lawyer

No abstract provided.


The Untold Story Of The Justice Gap: Integrating Poverty Law Into The Law School Curriculum, Vanita S. Snow 2017 University of the District of Columbia David A. Clarke School of Law

The Untold Story Of The Justice Gap: Integrating Poverty Law Into The Law School Curriculum, Vanita S. Snow

Pace Law Review

No abstract provided.


Critical Developments In The Vow Of Poverty Area And Update On Unrelated Business, Charles M. Whelan, S.J., Professor of Law, Fordham Law School; Office of General Counsel, United States Catholic Conference 2017 St. John's University School of Law

Critical Developments In The Vow Of Poverty Area And Update On Unrelated Business, Charles M. Whelan, S.J., Professor Of Law, Fordham Law School; Office Of General Counsel, United States Catholic Conference

The Catholic Lawyer

No abstract provided.


Protecting Confidential Information Entrusted To Others In Business Transactions: Data Breaches, Identity Theft, And Tort Liability, Mark A. Geistfeld 2017 New York University School of Law

Protecting Confidential Information Entrusted To Others In Business Transactions: Data Breaches, Identity Theft, And Tort Liability, Mark A. Geistfeld

New York University Public Law and Legal Theory Working Papers

Tort litigation over data breaches—defined here as the theft of one’s confidential information entrusted to another in a business transaction—most commonly involves the negligence cause of action. These claims turn on a number of issues that require searching analysis, including the manner in which the economic loss rule affects the tort duty, the relation between the negligence standard of care and strict liability, and the appropriate forms of compensable loss. Substantive analysis of these issues shows that they all can be resolved in favor of the negligence claim, which in turn justifies a rule of strict liability ...


Protecting Confidential Information Entrusted To Others In Business Transactions: Data Breaches, Identity Theft, And Tort Liability, Mark A. Geistfeld 2017 New York University School of Law

Protecting Confidential Information Entrusted To Others In Business Transactions: Data Breaches, Identity Theft, And Tort Liability, Mark A. Geistfeld

New York University Law and Economics Working Papers

Tort litigation over data breaches—defined here as the theft of one’s confidential information entrusted to another in a business transaction—most commonly involves the negligence cause of action. These claims turn on a number of issues that require searching analysis, including the manner in which the economic loss rule affects the tort duty, the relation between the negligence standard of care and strict liability, and the appropriate forms of compensable loss. Substantive analysis of these issues shows that they all can be resolved in favor of the negligence claim, which in turn justifies a rule of strict liability ...


"Law And Economics Versus Economic Analysis Of Law.", Keith Hylton 2017 Boston Univeristy School of Law

"Law And Economics Versus Economic Analysis Of Law.", Keith Hylton

Faculty Scholarship

I agree with Calabresi’s general distinction between Economic Analysis of Law and Law and Economics. However, these broad categories may obscure important differences between types of law and economics scholarship. I would distinguish positive economic analysis from normative economic analysis, and positivist legal analysis from nonpositivist analysis. The four categories generated by these distinctions provide a more fine-grained map of the styles of reasoning in law and economics, and has implications for the future of law and economics.


Cuando Otros Deciden Por Ti: La Eficiencia En La Intervención Judicial De Los Contratos Civiles, Diego Angulo Osorio 2017 ALACDE

Cuando Otros Deciden Por Ti: La Eficiencia En La Intervención Judicial De Los Contratos Civiles, Diego Angulo Osorio

The Latin American and Iberian Journal of Law and Economics

When the supply crosses with the acceptance of the contract, it is an optimal situation because the resources available, in theory, have been assigned efficiently and have been allocated to more valuable uses. However, this optimistic situation will not last forever; over time, it almost always affects the economic balance of the contract. The benefit or consideration becomes more valuable in comparison with the other, becoming too costly to comply with the contract, because the cost-benefit ratio was broken. How can the contractual balance be restored? Two paths are considered. On the one hand, judicialization, on the other renegotiation under ...


Acciones De Clase, “Microdaños” A Los Consumidores Y Fluid Recovery: Alternativas Institucionales Y Costos Sociales, Pamela Tolosa 2017 ALACDE

Acciones De Clase, “Microdaños” A Los Consumidores Y Fluid Recovery: Alternativas Institucionales Y Costos Sociales, Pamela Tolosa

The Latin American and Iberian Journal of Law and Economics

Usually, class actions have advantages in dealing with negative expected-value claims by consumers —when the expected cost of claiming exceeds the expected benefits of doing so—. In those cases, it is assumed that affected consumers do not have incentives to sue. Consequently, class action can be seen as a device to internalize the social costs of harms caused to consumers. Nevertheless, in order to achieve such a goal, the condemnatory sentence or the settlement agreement must be effectively enforced. In that stage of proceedings, the lack of incentives for claiming consumer damages is frequent. Fluid recovery or cy prés mechanims ...


Digital Commons powered by bepress