Digital Commons Network^™

Defining The Challenge In Implementing Climate Change Policy, Michael B. Gerrard

Faculty Scholarship

When Jonathan Cannon, Michael Vandenbergh, and I started planning this conference last summer, we planned to call it “Implementing Climate Change Legislation.” We assumed that by today a new law aimed at addressing climate change would be in place, or at least would be in the final polishing stage, in the United States. We even imagined that the federal agencies would be rolling up their sleeves to implement not only the new U.S. climate law but also our part of the comprehensive climate pact that the nations of the world had agreed to in Copenhagen.

Effects Of Early-Life Stress On 5-Ht1a Receptors In Juvenile Rhesus Monkeys Measured By Pet, Simona Spinelli, Svetlana Chefer, Richard E. Carson, Elaine Jagoda, Lixin Lang, Markus Heilig, Christina S. Barr, Stephen J. Suomi, J. Dee Higley, Elliot A. Stein

Faculty Publications

Background—Traumatic experiences in early childhood are associated with increased risk for developing mood and anxiety disorders later in life. Low serotonin1A receptor (5-HT1AR) density during development has been proposed as a trait-like characteristic leading to increased vulnerability of stress-related neuropsychiatric disorders.

Methods—To assess the relationship between early-life stress and alterations in the serotonin system during development, we used positron emission tomography (PET) to measure in vivo 5- HT1AR density and apparent dissociation constant (KD app) in the brain of juvenile rhesus monkeys exposed to the early-life stress of peer-rearing.

Results—In general, 5-HT1AR density and KD app were decreased in peer-reared …

Climate Change And The Wto: Legal Issues Concerning Border Tax Adjustments, Henrik Horn, Petros C. Mavroidis

Faculty Scholarship

Climate change is a multi-faceted discussion: for the trading community, one of many contentious issues in the policy debate over how to deal with greenhouse gas (GHG) emissions is the appropriate role of Border Carbon Adjustments (BCAs)/Border Tax Adjustments (BTAs). The role of BCAs has been analyzed in a very large policy discussion literature, as well as in a significant number of academic writings in both law and economics. One can safely summarize the state of each of these literatures as bewildering: in the legal literature there is still no consensus as to whether such measures are legal under the …

A Personal Note, Debra A. Livingston

Faculty Scholarship

It's a pleasure to introduce this issue honoring Columbia's most lovable curmudgeon. What can I say about the Harlan Fiske Stone Professor of Law? I should acknowledge, at the start, Henry's profound intellectual contribution to Columbia and to the law. There are not many of us who can say, with justification, that we've written the Greatest Hits of Public Law Scholarship over the course of our careers. And few of us have made individual contributions that equal "Constitutional Common Law," "Marbury and the Administrative State," "We the People[s]," "Stare Decisis," or "The Constitution Goes to Harvard." Henry is unusual among …

Addressing And Improving Technology Integration Skills For Preservice Teachers Using The Teacher Work Sample, Charles R. Graham, Tonya Tripp, Nancy Wentworth

Faculty Publications

This study explores the efforts at Brigham Young University to improve preservice candidates’ technology integration using the Teacher Work Sample (TWS) as an assessment tool. Baseline data that was analyzed from 95 TWSs indicated that students were predominantly using technology for productivity and information presentation purposes even though they had been taught to use technology for active student learning. Researchers discovered that decisions made about technology integration were heavily influenced by field instructors and TWS rubrics. An intervention plan was developed to train field instructors and 99 TWSs were analyzed the following year. The TWSs showed noticeable improvements including increases …

Entity-Level Controls: The Internal Auditor's Assessment Of Management Tone At The Top, James Hansen, Nathaniel M. Stephens, David A. Wood

Faculty Publications

The internal audit function’s (IAF) regular interaction with management and continual presence within the organization place it in a unique position to monitor the organization. Although the IAF has significant potential to evaluate and improve corporate governance, research has yet to explore how internal auditors assess an important component of corporate governance— management tone at the top. This paper reports survey evidence of 578 practicing internal auditors related to (1) current internal auditing practices regarding assessing management’s tone, (2) internal auditor’s current assessments of management’s tone, and (3) potential future practices internal auditor’s could perform to improve management’s tone. In …

Entrepreneurial Success: Differing Perceptions Of Entrepreneurs And Venture Capitalists, Ervin L. Black, F. Greg Burton, David A. Wood, Aaron F. Zimbelman

Faculty Publications

The recent credit crisis has made it more difficult for entrepreneurs to find funding. It is increasingly important for entrepreneurs to know what is important to venture capitalists (VCs) when they make their funding decisions. We interview entrepreneurs and VCs to determine traits these groups perceive as necessary for entrepreneurial success. We find that entrepreneurs cite traits inherent to their nature significantly more than VCs. Additionally, entrepreneurs who do not have previous VC funding experience differ significantly from VCs in identifying important factors for VC funding. In contrast, entrepreneurs with previous VC funding experience did not differ from VCs in …

Book-Tax Conformity, Earnings Persistence And The Association Between Earnings And Future Cash Flows, T.J. Atwood, Michael S. Drake, Linda A. Myers

Faculty Publications

Calls for eliminating differences between accounting earnings and taxable income in the U.S. have been debated extensively. Proponents of increased book-tax conformity argue that tax compliance will increase and earnings quality will improve. Opponents argue that earnings quality will decline. We examine whether the level of required book-tax conformity affects earnings persistence and the association between earnings and future cash flows. We develop a comprehensive book-tax conformity measure and find that earnings have lower persistence and a lower association with future cash flows when conformity is higher. Our evidence suggests that increased book-tax conformity may reduce earnings quality.

The Impact Of 401(K) Loans On Saving, John Beshears, James J. Choi, David Laibson, Brigitte C. Madrian

Faculty Publications

Although the popular press and politicians often describe 401(k) loans as a problem, classical economic theory has a more benign view. Loans from a 401(k) can relax liquidity constraints and increase household utility. Moreover, loan provisions may have the subtle effect of raising net asset accumulation by making 401(k) participation more appealing: employees who can access their 401(k) assets if they need them may be willing to put more money into an otherwise illiquid 401(k) account. Our research suggests that 401(k) loans are neither a blessing nor a bogeyman. Conditional on borrowing to finance consumption, we show that a 401(k) …

The Regulation Of Consumer Financial Products: An Introductory Essay With Four Case Studies, John Y. Campbell, Howell E. Jackson, Brigitte C. Madrian, Peter Tufano

Faculty Publications

The recent financial crisis has led many to question how well businesses deliver consumer financial services and how well regulatory institutions address problems in consumer financial markets. In response, the Obama administration proposed a new agency to oversee consumer financial services, and the recently enacted Dodd-Frank Wall Street Reform and Consumer Protection Act embraced the Administration’s proposal by creating the Bureau of Consumer Financial Protection. Other regulatory reforms have been advanced, and in some cases adopted, in recent years, at both the federal and state level. In this paper, we provide an overview of consumer financial markets, detailing the purposes …

The Desire To Acquire And Ipo Long-Run Underperformance, James C. Brau, Robert B. Couch, Ninon K. Sutton

Faculty Publications

We analyze a sample of 4,795 IPOs that went public between 1985 and 2003 to determine the impact of acquisition activity on long-run stock performance. After controlling for relevant factors, we find that IPOs that acquire within a year of going public significantly underperform for three-year holding periods following the first year, whereas non-acquiring IPOs do not significantly underperform over this time frame. In addition, firms that wait for more than a year after the IPO to become an acquirer do not underperform. Our event- and calendar-time results suggest that the acquisition activity of newly public firms plays a previously …

Withdrawing From International Custom, Curtis A. Bradley, Mitu Gulati

Faculty Scholarship

Treaties are negotiated, usually written down, and often subject to cumbersome domestic ratification processes. Nonetheless, nations often have the right to withdraw unilaterally from them. By contrast, the conventional wisdom is that nations never have the legal right to withdraw unilaterally from the unwritten rules of customary international law (CIL), a proposition that we refer to as the “Mandatory View.” It is not obvious, however, why it should be easier to exit from treaties than from CIL, especially given the significant overlap that exists today between the regulatory coverage of treaties and CIL, as well as the frequent use of …

Explanation Interpretation In Functionalist Comparative Law — A Response To Julie De Coninck, Ralf Michaels

Faculty Scholarship

Response to Julie de Coninck, The Functional Method of Comparative Law: Quo Vadis?, 74 Rabels Zeitschrift für ausländisches und internationales Privatrecht 318–350 (2010) in which De Coninck criticizes existing functionalist comparative law for what she perceives as lack of interest in empirical foundations.

Robinson Everett: The Citizen Lawyer Ideal Lives On, David F. Levi

Faculty Scholarship

In this tribute to Professor Robinson O. Everett, Dean David Levi questions the view that the citizen-lawyer or lawyer-statesmen models are in decline. Tracing Professor Everett’s varied career, accomplishments, and commitments to individuals and institutions; Levi contends that Everett combined the lawyer's traditional focus on the individual with an overall dedication to the larger community. Everett was not just a model citizen; he was a lawyer-citizen. Levi contends that the survival of the lawyer-citizen and lawyer-statesmen models is a matter of choice and character. Nothing in the current structure of the legal economy places these models out of reach for …

The Consequences Of Congress’S Choice Of Delegate: Judicial And Agency Interpretations Of Title Vii, Margaret H. Lemos

Faculty Scholarship

Although Congress delegates lawmaking authority to both courts and agencies, we know remarkably little about the determinants-and even less about the consequences-of the choice between judicial and administrative process. The few scholars who have sought to understand the choice of delegate have used formal modeling to illuminate various aspects of the decision from the perspective of the enacting Congress. That approach yields useful insight into the likely preferences of rational legislators, but tells us nothing about how (or whether) those preferences play out in the behavior of courts and agencies. Without such knowledge, we have no way of testing the …

Applied Legal History: Demystifying The Doctrine Of Odious Debts, Sarah Ludington, Mitu Gulati, Alfred L. Brophy

Faculty Scholarship

"Odious debts" have been the subject of debate in academic, activist, and policymaking circles in recent years. The term refers to the debts of a nation that a despotic leader incurs against the interests of the populace. When the despot is overthrown, the new government — understandably — does not wish to repay creditors who helped prop up the despot. One argument has focused on whether customary international law supports a "doctrine" of odious debts that justifies the nonpayment of sovereign debts when three conditions are met: (1) the debts were incurred by a despotic ruler (without the consent of …

Evaluating Judges And Judicial Institutions: Reorienting The Perspective, Mitu Gulati, David E. Klein, David F. Levi

Faculty Scholarship

Empirical scholarship on judges, judging, and judicial institutions, a staple in political science, is becoming increasingly popular in law schools. We propose that this scholarship can be improved and enhanced by greater collaboration between empirical scholars, legal theorists, and the primary subjects of the research, the judges. We recently hosted a workshop that attempted to move away from the conventional mode of involving judges and theorists in empirical research, where they serve as commentators on empirical studies that they often see as reductionist and mis-focused. Instead, we had the judges and theorists set the discussion agenda for the empiricists by …

Response: Anti-Discrimination Law In Peril?, Trina Jones

Faculty Scholarship

No abstract provided.