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Full-Text Articles in Law

Crise Econômica E Regulação, Jefferson Alvares Nov 2008

Crise Econômica E Regulação, Jefferson Alvares

Jefferson Alvares

No abstract provided.


Nova Arquitetura, Jefferson Alvares Oct 2008

Nova Arquitetura, Jefferson Alvares

Jefferson Alvares

No abstract provided.


Casos De “Control Casi Total”. La Fragilidad Del Plazo De Seis Meses Para Que El Controlante Emita Una Declaración Unilateral De Adquisición, Gaston Mirkin Sep 2008

Casos De “Control Casi Total”. La Fragilidad Del Plazo De Seis Meses Para Que El Controlante Emita Una Declaración Unilateral De Adquisición, Gaston Mirkin

Gaston Mirkin

No abstract provided.


Colocación Por "Oferta Pública" De Obligaciones Negociables. Dudas Interpretativas En Torno Al Concepto, Gaston Mirkin Aug 2008

Colocación Por "Oferta Pública" De Obligaciones Negociables. Dudas Interpretativas En Torno Al Concepto, Gaston Mirkin

Gaston Mirkin

No abstract provided.


Sovereign Debt Restructuring: Search For An Optimum Voting Threshold, Joy Dey Aug 2008

Sovereign Debt Restructuring: Search For An Optimum Voting Threshold, Joy Dey

Joy Dey

Sovereigns have been defaulting on their debts over decades now. A sovereign debt default necessitates a restructuring of the debt instrument in order to reduce the size of the debt or lengthen the maturity period. One of the methods of debt restructuring is an ‘exchange offer’ where the old debt instrument, for example the bond, is exchanged for new debt instruments with altered terms and conditions, particularly the payment terms. Whereas some investors may agree to such restructuring and accept the exchange offer, others might have different aspirations for their investments. A successful sovereign debt restructuring takes place when the …


Behavioral Public Finance, Edward J. Mccaffery Jul 2008

Behavioral Public Finance, Edward J. Mccaffery

Edward J McCaffery

These are slides from a presentation to the Gruter Institute for Law and Behavioral Research, Squaw Valley Conference, May, 2008 (at which event Michael Jensen got me to agree to post these slides as a pdf on SSRN . . . ). The task is to give an overview of what I hope to be an emerging field of behavioral public finance. Behavioral finance, as per Barberis and Thaler 2003 (and others), consists of two parts: (1) individual level heuristics and biases, which can lead to sub-optimal (inconsistent) judgment and decision-making, and (2) institutional arbitrage mechanisms. In private finance and …


Comments On Liebman And Zeckhauser, Simple Humans, Complex Insurance, Subtle Subsidies, Edward J. Mccaffery Jul 2008

Comments On Liebman And Zeckhauser, Simple Humans, Complex Insurance, Subtle Subsidies, Edward J. Mccaffery

Edward J McCaffery

These are brief comments on an excellent paper by Jeffrey Liebman and Richard Zeckhauser, prepared for a conference sponsored by the Urban Institute and Brookings on tax and health care policy. Liebman and Zeckhauser summarize the complexities involved in making optimal health insurance decisions, and offer generally cautionary notes about conflating these with tax law (a theme of the conference). Most importantly, Liebman and Zeckhauser suggest a positive role for employers in health care and insurance decisions, as better setters or framers of choice sets—witness 401(k) plans. In this Commentary, I applaud Leibman and Zeckhauser’s general work and particular observation, …


Tercer Congreso Nacional De Organismos Públicos Autónomos, Bruno L. Costantini García Jun 2008

Tercer Congreso Nacional De Organismos Públicos Autónomos, Bruno L. Costantini García

Bruno L. Costantini García

Tercer Congreso Nacional de Organismos Públicos Autónomos

"Autonomía, Reforma Legislativa y Gasto Público"


The Petrochina Syndrome: Regulating Capital Markets In The Anti-Globalization Era, Stephen F. Diamond Jan 2008

The Petrochina Syndrome: Regulating Capital Markets In The Anti-Globalization Era, Stephen F. Diamond

Stephen F. Diamond

This article argues that the process of globalization has generated a legitimation deficit that can be the source of wasteful, even destructive, social and political conflict. I stylize this outcome as "the PetroChina Syndrome," after a leading example of the kind of activity generated in response to globalization, the PetroChina Campaign, where a coalition of labor, human rights, environmental, anti-slavery and religious groups worked together to oppose the initial public offering of a major Chinese oil company led by Goldman Sachs. The article begins with a discussion of this important but largely unexplored dimension of the anti-globalization era triggered by …


“A Responsabilidade Dos Administradores E Os Deveres De Cuidado Enquanto Estratégias De Corporate Governance” [The Liability Of Board Members And Duties Of Care As Corporate Governance Strategies], Bruno Ferreira Jan 2008

“A Responsabilidade Dos Administradores E Os Deveres De Cuidado Enquanto Estratégias De Corporate Governance” [The Liability Of Board Members And Duties Of Care As Corporate Governance Strategies], Bruno Ferreira

Bruno Ferreira

No abstract provided.


“Os Deveres De Cuidado De Administradores E Gerentes” [The Duties Of Care Of Board Members And Managers], Bruno Ferreira Jan 2008

“Os Deveres De Cuidado De Administradores E Gerentes” [The Duties Of Care Of Board Members And Managers], Bruno Ferreira

Bruno Ferreira

No abstract provided.


Designing A Litigation Hold Process, Robert L. Kardell Jan 2008

Designing A Litigation Hold Process, Robert L. Kardell

Robert L Kardell

No abstract provided.


The Tyranny Of The Multitude Is A Multiplied Tyranny: Is The United States Financial Regulatory Structure Undermining U.S. Competitiveness?, Elizabeth F. Brown Jan 2008

The Tyranny Of The Multitude Is A Multiplied Tyranny: Is The United States Financial Regulatory Structure Undermining U.S. Competitiveness?, Elizabeth F. Brown

Elizabeth F Brown

This Article examines whether the U.S. regulatory structure undermined U.S. competitiveness with foreign financial markets, particularly the United Kingdom's markets.


Randomness And Complexity In Social Explanation: Evidence From Finance And Bankruptcy Law, Bernard Trujillo Jan 2008

Randomness And Complexity In Social Explanation: Evidence From Finance And Bankruptcy Law, Bernard Trujillo

Bernard Trujillo

No abstract provided.


The Impact Of Predatory Lending Laws: Policy Implications And Insights Dec 2007

The Impact Of Predatory Lending Laws: Policy Implications And Insights

Patricia A. McCoy

Over half the states and several localities have enacted statutes and ordinances to regulate abuses in the residential mortgage market. The effect of these statutes is a matter of debate. This paper seeks to improve the understanding of this increasingly important issue and pays particular attention to the role that legal enforcement mechanisms play in this context.

We created a legal index of laws governing mortgage lending terms and practices, giving each state an overall score for the strength of its laws. In addition, we disaggregated the index to create sub-indices along three dimensions: (1) the scope of loans covered …


The Moral Hazard Implications Of Deposit Insurance: Theory And Practice Dec 2007

The Moral Hazard Implications Of Deposit Insurance: Theory And Practice

Patricia A. McCoy

No abstract provided.


The Legal Infrastructure Of Subprime And Nontraditional Mortgage Lending Dec 2007

The Legal Infrastructure Of Subprime And Nontraditional Mortgage Lending

Patricia A. McCoy

This paper provides a critical analysis of the legal landscape of residential mortgage lending and explains how federal law abdicated regulation of the subprime market. First, the paper presents the historical backdrop to government oversight of mortgage lending and identifies the changes to and innovations in the lending process that contributed to the recent transformation of the residential mortgage market. We then describe recent attempts at the state and federal level to re-regulate and the backlash initiated by the federal banking agencies to thwart regulation of their constituent banks through preemption, resulting in parallel universes of regulation. Next, the article …


Deconstructing Equity: Public Ownership, Agency Costs, And Complete Capital Markets, Ronald J. Gilson, Charles K. Whitehead Dec 2007

Deconstructing Equity: Public Ownership, Agency Costs, And Complete Capital Markets, Ronald J. Gilson, Charles K. Whitehead

Charles K Whitehead

The traditional law and finance focus on agency costs presumes that the premise that diversified public shareholders are the cheapest risk bearers is immutable. In this Essay, we raise the possibility that changes in the capital markets have called this premise into question, drawn into sharp relief by the recent private equity wave in which the size and range of public companies being taken private expanded significantly. In brief, we argue that private owners, in increasingly complete markets, can transfer risk in discrete slices to counterparties who, in turn, can manage or otherwise diversify away those risks they choose to …


La "Portabilità Del Mutuo" Bancario O Finanziario, Pietro Sirena Dec 2007

La "Portabilità Del Mutuo" Bancario O Finanziario, Pietro Sirena

Pietro Sirena

No abstract provided.


“La Nueva Directiva Sobre El Crédito Al Consumo O El Discreto Encanto De Una Armonización Total (Con Muchas Excepciones)”, Luis González Vaqué Dec 2007

“La Nueva Directiva Sobre El Crédito Al Consumo O El Discreto Encanto De Una Armonización Total (Con Muchas Excepciones)”, Luis González Vaqué

Luis González Vaqué

En los considerandos segundo y tercero de la Directiva objeto de nuestro estudio se hace referencia a los resultados insatisfactorios de la armonización mínima consagrada por la Directiva 87/102/CEE. En este sentido, el legislador comunitario, refiriéndose a las divergencias legislativas detectadas, declara lo siguiente:

«La situación de hecho y de derecho resultante de estas disparidades nacionales produce en algunos casos distorsiones de la competencia entre prestamistas dentro de la Comunidad y entorpece el funcionamiento del mercado interior cuando las disposiciones obligatorias adoptadas por los Estados miembros son más restrictivas que las establecidas en la Directiva 87/102/CEE. Asimismo, reduce las posibilidades …