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Articles 1 - 9 of 9
Full-Text Articles in Law
Transitive Counterparty Risk And Financial Contracts, Manuel A. Utset
Transitive Counterparty Risk And Financial Contracts, Manuel A. Utset
Scholarly Publications
No abstract provided.
Financial System Engineering, Manuel A. Utset
Financial System Engineering, Manuel A. Utset
Scholarly Publications
No abstract provided.
Corporate Actors, Corporate Crimes And Time-Inconsistent Preference, Manuel A. Utset
Corporate Actors, Corporate Crimes And Time-Inconsistent Preference, Manuel A. Utset
Scholarly Publications
No abstract provided.
The False Promise Of Risk-Reducing Incentive Pay: Evidence From Executive Pensions And Deferred Compensation, Kelli A. Alces, Brian D. Galle
The False Promise Of Risk-Reducing Incentive Pay: Evidence From Executive Pensions And Deferred Compensation, Kelli A. Alces, Brian D. Galle
Scholarly Publications
No abstract provided.
Complex Financial Institutions And Systemic Risk, Manuel A. Utset
Complex Financial Institutions And Systemic Risk, Manuel A. Utset
Scholarly Publications
No abstract provided.
Managerial Entrenchment And Shareholder Wealth Revisited: Theory And Evidence From A Recessionary Market, Jay B. Kesten
Managerial Entrenchment And Shareholder Wealth Revisited: Theory And Evidence From A Recessionary Market, Jay B. Kesten
Scholarly Publications
Does managerial entrenchment create or destroy shareholder value? This Article presents both theory and evidence that the answer to this question is not monolithic, but rather depends on factors that vary greatly with the macroeconomic climate, such as firm profitability, takeover frequency, and valuation of takeover premiums. The mainstream view, both of academics and market participants, is that entrenchment reduces accountability to shareholders and amplifies agency costs, thus decreasing shareholder wealth. Two influential studies (Bebchuk, Cohen & Ferrell (2009) and Gompers, Ishii & Metrick (2003)) present empirical evidence consistent with this conclusion, finding statistically significant negative correlations between entrenchment and …
Strategic Governance, Kelli A. Alces
Strategic Governance, Kelli A. Alces
Scholarly Publications
Creditors exercise significant power over financially distressed corporations, thereby pushing corporate managers further into the realm of unprofitable risk aversion. The heavy hand of creditor power and the threats creditors are able to make to managers’ professional stability and success misalign senior officers’ incentives by undermining their freedom to make wealth-maximizing decisions on behalf of the corporation. The importance of independent managerial decision making is paramount in the law of corporate governance and that independence has been inefficiently undermined by the exertion of oppressive creditor control. This Article resolves the problem by creating a mechanism to balance shareholder and creditor …
Reciprocal Fairness, Strategic Behavior & Venture Survival: A Theory Of Venture Capital-Financed Firms, Manuel A. Utset
Reciprocal Fairness, Strategic Behavior & Venture Survival: A Theory Of Venture Capital-Financed Firms, Manuel A. Utset
Scholarly Publications
No abstract provided.
The Discipline Of Institutions And The Disciplining Of Banks, Manuel A. Utset
The Discipline Of Institutions And The Disciplining Of Banks, Manuel A. Utset
Scholarly Publications
No abstract provided.