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Full-Text Articles in Business
The Myth Of The Ideal Investor, Elisabeth De Fontenay
The Myth Of The Ideal Investor, Elisabeth De Fontenay
Faculty Scholarship
Critiques of specific investor behavior often assume an ideal investor against which all others should be compared. This ideal investor figures prominently in the heated debates over the impact of investor time horizons on firm value. In much of the commentary, the ideal is a longterm investor that actively monitors management, but the specifics are typically left vague. That is no coincidence. The various characteristics that we might wish for in such an investor cannot peacefully coexist in practice.
If the ideal investor remains illusory, which of the real-world investor types should we champion instead? The answer, I argue, is …
Securitization Ten Years After The Financial Crisis: An Overview, Steven L. Schwarcz
Securitization Ten Years After The Financial Crisis: An Overview, Steven L. Schwarcz
Faculty Scholarship
This symposium issue examines securitization a decade after the 2008 financial crisis. Prior to the crisis, securitization was one of America’s dominant means of financing. Many observers, however, blamed securitization for causing the crisis, sparking regulation that arguably has been overly restrictive and, in some cases, even punitive. Where are we now?
Seeking An Objective For Regulating Insider Trading Through Texas Gulf Sulphur, James D. Cox
Seeking An Objective For Regulating Insider Trading Through Texas Gulf Sulphur, James D. Cox
Faculty Scholarship
Data summarized in the opening of this article document that inside trading is a growth industry. And, as deals get ever bigger, the growth curve becomes steeper as more the data confirms intuition that the more who know about a good thing the more who will seek to harvest its benefits. Even though insider trading appears to have thrived during the fifty years after Texas Gulf Sulphur, we gather in this symposium to celebrate the decision. But why? As developed below, the Second Circuit’s landmark decision gave way to the Supreme Court’s erection of a fiduciary framework that this article …