Open Access. Powered by Scholars. Published by Universities.®
- Institution
-
- University of Pennsylvania Carey Law School (94)
- Yale University (26)
- University of Colorado Law School (20)
- Seattle University School of Law (19)
- Selected Works (16)
-
- Georgetown University Law Center (13)
- SelectedWorks (13)
- Duke Law (11)
- William & Mary Law School (8)
- Chicago-Kent College of Law (7)
- Montclair State University (4)
- University of Pittsburgh School of Law (4)
- University of Southern Maine (4)
- Columbia Law School (3)
- Singapore Management University (3)
- University at Buffalo School of Law (3)
- University of Massachusetts Boston (3)
- Bard College (2)
- Central Bank of Nigeria (2)
- College of the Holy Cross (2)
- Cornell University Law School (2)
- Illinois Wesleyan University (2)
- Loyola Marymount University and Loyola Law School (2)
- Notre Dame Law School (2)
- Syracuse University (2)
- Trinity College (2)
- University of Denver (2)
- University of New Hampshire (2)
- Brigham Young University Law School (1)
- Chapman University (1)
- Keyword
-
- Corporations (30)
- Law (23)
- Seattle University (19)
- Seattle University Law Review (19)
- Adolf Berle (18)
-
- Berle (18)
- Berle & Means (18)
- Berle symposium (18)
- Berle's footsteps (18)
- Corporate power (18)
- Corporate social responsibility (18)
- Law Corporations and Society (18)
- Social welfare (18)
- Society (18)
- The Modern Corporation and Private Property (18)
- The modern corporation (18)
- Securities regulation (17)
- United States (15)
- Bankruptcy (14)
- Economics (14)
- Corporate governance (13)
- Financial crisis (13)
- Finance (12)
- Sovereign debt (10)
- Banking (8)
- Debt relief (8)
- Law and Economics (8)
- Banking and Finance (7)
- Chapter 11 (7)
- Corporate finance (7)
- Publication Year
- Publication
-
- All Faculty Scholarship (99)
- Journal of Financial Crises (26)
- Seattle University Law Review (19)
- Faculty Scholarship (14)
- Outdoor Recreation: Promise and Peril in the New West (Summer Conference, June 8-10) (14)
-
- Georgetown Law Faculty Publications and Other Works (13)
- Faculty Publications (7)
- Natural Resource Development in Indian Country (Summer Conference, June 8-10) (6)
- Articles (4)
- Department of Political Science and Law Faculty Scholarship and Creative Works (4)
- James B Thomson (3)
- Mads Andenas (3)
- Sustainable Communities Capacity Building (3)
- Carlo Drago (2)
- Economic and Financial Review (2)
- Human Rights & Human Welfare (2)
- Journal Articles (2)
- Loyola of Los Angeles International and Comparative Law Review (2)
- New England Journal of Public Policy (2)
- Research Collection Yong Pung How School Of Law (2)
- Senior Theses and Projects (2)
- The University of New Hampshire Law Review (2)
- Ahmed E SOUAIAIA (1)
- Alejandro Ponce (1)
- Amilton Bispo dos Reis (1)
- Articles by Maurer Faculty (1)
- Arts & Sciences Electronic Theses and Dissertations (1)
- BYU Law Review (1)
- Bruno E. Viani (1)
- Bryane Michael (bryane.michael@stcatz.ox.ac.uk) (1)
- Publication Type
- File Type
Articles 151 - 180 of 302
Full-Text Articles in Law
Banks And Governments: An Arial View, Anna Gelpern
Banks And Governments: An Arial View, Anna Gelpern
Georgetown Law Faculty Publications and Other Works
Financial systems and public treasuries are communicating vessels: strength or weakness in one flows to the other, and back. This chapter considers the implications of this insight using case studies from Europe, Asia, and Latin America. The connection is not unique to Europe, although it does not always result in feedback effects, or the ‘doom loop’ that has made headlines since 2010. Events now known as banking or government debt crises often have had elements of both, and could have gone either way. Policy and political choices determined their path. In all cases, governments were as indispensable for resolving banking …
Contract Hope And Sovereign Redemption, Anna Gelpern
Contract Hope And Sovereign Redemption, Anna Gelpern
Georgetown Law Faculty Publications and Other Works
Sovereign immunity has served as a partial substitute for bankruptcy protection, but it has encouraged a minority of creditors to pursue unorthodox legal remedies with spillover effects far beyond the debtor-creditor relationship. The attempt to enforce Argentina’s pari passu clause in New York is an example of such a remedy, which relies primarily on collateral damage to other creditors and market infrastructure to obtain settlement from a debtor that would not pay. The District Court decision, now on appeal before the Second Circuit, may not make holding out more attractive in future restructurings – but it would make participation less …
Taking No Prisoners: Captive Insurance As An Alternative To Traditional Or Commercial Insurance, Constance A. Anastopoulo
Taking No Prisoners: Captive Insurance As An Alternative To Traditional Or Commercial Insurance, Constance A. Anastopoulo
Constance A. Anastopoulo
No abstract provided.
Impact Of The 2003 Illinois Gaming Tax Rate Increase On Marketing Spending And Cross-State Substitution, Mikael Bengt Ahlgren
Impact Of The 2003 Illinois Gaming Tax Rate Increase On Marketing Spending And Cross-State Substitution, Mikael Bengt Ahlgren
UNLV Theses, Dissertations, Professional Papers, and Capstones
The purpose of this research was to investigate three potential consequences related to the 2003 Illinois Gaming Tax rate restructuring. The first section presents the assessment of whether a higher tax rate motivated an Illinois casino operator to reduce of marketing/promotional expenditures in an attempt to negatively influence revenues. The second establishes if the surrounding state gaming operators reacted to the increased Gaming Tax rate in Illinois, by raising their marketing spending. The last section clarifies whether the changes to the Illinois Gaming Tax Schedule impacted gaming volumes in the neighboring/competing states of Indiana, Iowa, and Missouri.
The analysis relied …
Basel Iii And Credit Risk Measurement: Variations Among G20 Countries, Matt Schlickenmaier
Basel Iii And Credit Risk Measurement: Variations Among G20 Countries, Matt Schlickenmaier
San Diego International Law Journal
Most countries require banks to hold extra capital to protect against unforeseen financial calamities; banks with riskier loans must hold more capital than those with safer loans. Basel II, a set of international banking standards, allows banks to measure a loan’s risk in different ways: some banks make their own judgments; others use outside agencies. The recent mortgage crisis prompted banks to reevaluate these methods, in part due to banks having failed to perceive the high level of risk inherent in securitized mortgages. The international community’s response was Basel III, an updated version of its previous standards. This Comment will …
Problematique, David A. Westbrook
Sustainable Water Management On Brownfields Sites, Ryan Fenwick, New England Environmental Finance Center
Sustainable Water Management On Brownfields Sites, Ryan Fenwick, New England Environmental Finance Center
Sustainable Communities Capacity Building
This practice guide was developed by the Environmental Finance Center Network (EFCN) through the Capacity Building for Sustainable Communities program funded by the US Department of Housing and Urban Development and the US Environmental Protection Agency. Through a cooperative agreement with HUD, EFCN is providing capacity building and technical assistance to recipients of grants from the federal Partnership for Sustainable Communities, an interagency collaboration that aims to help towns, cities, and regions develop in more economically, environmentally, and socially sustainable ways.
Rethinking Microfinance, Lan Cao
A Comparison Of Anti-Manipulation Rules In U.S. And Eu Electricity And Natural Gas Markets: A Proposal For A Common Standard, Shaun D. Ledgerwood, Dan Harris
A Comparison Of Anti-Manipulation Rules In U.S. And Eu Electricity And Natural Gas Markets: A Proposal For A Common Standard, Shaun D. Ledgerwood, Dan Harris
Shaun D. Ledgerwood
In this paper, we describe the development and current status of anti-manipulation rules as they apply to wholesale electricity and natural gas markets in the United States and the European Union, including the institutions that are responsible for overseeing these rules. We then compare and contrast these jurisdictions to discuss similarities, differences, and potential gaps in coverage within and across their internal markets. We note that while the behavior prohibited by the U.S. and EU statutes is remarkably similar, there is in fact no common standard for defining market manipulation. The absence of a common EU/U.S. framework for examining manipulative …
Foreclosing Foreclosure: Escaping The Yawning Abyss Of The Deep Mortgage And Housing Crisis, Aleatra P. Williams
Foreclosing Foreclosure: Escaping The Yawning Abyss Of The Deep Mortgage And Housing Crisis, Aleatra P. Williams
Northwestern Journal of Law & Social Policy
In 2007, Rick Sharga, vice president of marketing at RealtyTrac, stated that with more stringent lending and underwriting standards, “we will likely see a significant foreclosure decrease” within the next three years. However, a sustained and considerable decrease in foreclosures has yet to occur. In fact, the real estate market downfall and resulting mortgage and housing crisis have proven to be wider, deeper, and more serious than first anticipated. Since 2007, millions of homeowners faced, and continue to face, foreclosure proceedings. To provide protections for homeowners, federal and state actors have attempted regulatory and legislative solutions to stem the foreclosure …
Hard, Soft, And Embedded: Implementing Principles On Promoting Responsible Sovereign Lending And Borrowing, Anna Gelpern
Hard, Soft, And Embedded: Implementing Principles On Promoting Responsible Sovereign Lending And Borrowing, Anna Gelpern
Georgetown Law Faculty Publications and Other Works
This paper, prepared for UNCTAD’s initiative on responsible sovereign lending and borrowing, considers concrete strategies for implementing the Principles. It draws on studies in soft law and new governance, and on the recent experience in promoting best practices in international finance, including project finance, extraction revenue management, foreign aid, sovereign investment, and sovereign borrowing in the capital markets. It recommends maintaining the current non-binding character of the Principles, while embedding implementation in multi-stakeholder arrangements for ongoing disclosure, assessment, interpretation, and adaptation. This strategy has the best chance of changing behavior in sovereign lending and borrowing by creating constituencies for implementation …
The History And Rationale For A Separate Bank Resolution Process, Thomas Fitzpatrick, Moira Kearney-Marks, James Thomson
The History And Rationale For A Separate Bank Resolution Process, Thomas Fitzpatrick, Moira Kearney-Marks, James Thomson
James B Thomson
Everyone recognizes the need to have a credible resolution regime in place for fi nancial companies whose failure could harm the entire financial system, but people disagree about which regime is best. The emergence of the parallel banking system has led policymakers to reconsider the dividing line between fi rms that should be resolved in bankruptcy and firms that should be subject to a special resolution regime. A look at the history of insolvency resolution in this country suggests that a blended approach is worth considering. Activities that have potential systemic impact might be best handled administratively, while all other …
Harmonising And Regulating Financial Markets, Mads Andenas
Harmonising And Regulating Financial Markets, Mads Andenas
Mads Andenas
This paper discusses problems of harmonisation and regulation of the European Internal Financial Market. The argument is that the current division of powers between the EU and Member States is not achieving sufficient harmonisation to develop an internal market. The obstacles to the Internal Financial Market presented by national regulatory and supervisory regimes remain too high, and the EU minimum standards and mutual recognition regime has failed to lower these barriers sufficiently. There is a need for broader based regulatory and supervisory institutions, undertaking at a European level what cannot effectively be done at a national level, including providing a …
United States Sovereign Debt: A Thought Experiment On Default And Restructuring, Charles W. Mooney Jr.
United States Sovereign Debt: A Thought Experiment On Default And Restructuring, Charles W. Mooney Jr.
All Faculty Scholarship
This chapter adopts the working assumption that it is conceivable that at some time in the future it would be in the interest of the United States to restructure its sovereign debt (i.e., to reduce the principal amount). It addresses in particular U.S. Treasury Securities. The chapter first provides an overview of the intermediated, tiered holding system for book-entry Treasuries. For the first time the chapter then explores whether and how—logistically and legally—such a restructuring could be effected. It posits the sort of dire scenario that might make such a restructuring advantageous. It then outlines a novel scheme …
Institutionalization, Investment Adviser Regulation, And The Hedge Fund Problem, Anita Krug
Institutionalization, Investment Adviser Regulation, And The Hedge Fund Problem, Anita Krug
All Faculty Scholarship
This Article contends that more effective regulation of investment advisers could be achieved by recognizing that the growth of hedge funds, private equity funds, and other private funds in recent decades is a manifestation of institutionalization in the investment advisory context. That is, investment advisers today commonly advise these “institutions,” which have supplanted other, smaller investors as advisory clients. However, the federal securities statute governing investment advisers, the Investment Advisers Act of 1940, does not address the role of private funds as institutions that now intermediate those smaller investors’ relationships to investment advisers. Consistent with that failure, investment adviser regulation …
Resolving Large, Complex Financial Firms, Thomas Fitzpatrick, Mark Greenlee, James Thomson
Resolving Large, Complex Financial Firms, Thomas Fitzpatrick, Mark Greenlee, James Thomson
James B Thomson
How to best manage the failure of systemically important fi nancial fi rms was the theme of a recent conference at which the latest research on the issue was presented. Here we summarize that research, the discussions that it sparked, and the areas where considerable work remains.
How Well Does Bankruptcy Work When Large Financial Firms Fail? Some Lessons From Lehman Brothers, Thomas Fitzpatrick, James Thomson
How Well Does Bankruptcy Work When Large Financial Firms Fail? Some Lessons From Lehman Brothers, Thomas Fitzpatrick, James Thomson
James B Thomson
There is disagreement about whether large and complex financial institutions should be allowed to use U.S. bankruptcy law to reorganize when they get into financial difficulty. We look at the Lehman example for lessons about whether bankruptcy law might be a better alternative to bailouts or to resolution under the Dodd-Frank Act’s orderly liquidation authority. We find that there is no clear evidence that bankruptcy law is insufficient to handle the resolution of large complex financial firms.
The Marginalist Revolution In Corporate Finance: 1880-1965, Herbert J. Hovenkamp
The Marginalist Revolution In Corporate Finance: 1880-1965, Herbert J. Hovenkamp
All Faculty Scholarship
During the late nineteenth and early twentieth centuries fundamental changes in economic thought revolutionized the theory of corporate finance, leading to changes in its legal regulation. The changes were massive, and this branch of financial analysis and law became virtually unrecognizable to those who had practiced it earlier. The source of this revision was the marginalist, or neoclassical, revolution in economic thought. The classical theory had seen corporate finance as an historical, relatively self-executing inquiry based on the classical theory of value and administered by common law courts. By contrast, neoclassical value theory was forward looking and as a result …
A Preface To Neoclassical Legal Thought, Herbert J. Hovenkamp
A Preface To Neoclassical Legal Thought, Herbert J. Hovenkamp
All Faculty Scholarship
Most legal historians speak of the period following classical legal thought as “progressive legal thought.” That term creates an unwarranted bias in characterization, however, creating the impression that conservatives clung to an obsolete “classical” ideology, when in fact they were in many ways just as revisionist as the progressives legal thinkers whom they critiqued. The Progressives and New Deal thinkers whom we identify with progressive legal thought were nearly all neoclassical, or marginalist, in their economics, but it is hardly true that all marginalists were progressives. For example, the lawyers and policy makers in the corporate finance battles of the …
U.S. Appellate Court Ruling Deals Fatal Blow To Argentina Brady Bond Debt Swap, Mark J. Calaguas
U.S. Appellate Court Ruling Deals Fatal Blow To Argentina Brady Bond Debt Swap, Mark J. Calaguas
Mark J Calaguas
No abstract provided.
Recent Developments In European Bank Competition, Juliana Yu Sun
Recent Developments In European Bank Competition, Juliana Yu Sun
Research Collection School Of Economics
This paper investigates the degree of bank competition in the euro area, the U.S. and U.K. before and after the recent financial crisis, and revisits the issue whether the introduction of EMU and the euro have had any impact on bank competition. The results suggest that the level of bank competition converged across euro area countries in the wake of the EMU. The recent global financial crisis led to a fall in competition in several countries and especially where large credit and housing booms had preceded the crisis...
Reflexivity In Financial Markets: A Neuroeconomic Examination Of Uncertainty And Cognition In Financial Markets, Steven Pikelny
Reflexivity In Financial Markets: A Neuroeconomic Examination Of Uncertainty And Cognition In Financial Markets, Steven Pikelny
Senior Projects Spring 2011
Financial markets exist to disperse the risks of an unknown future in an economy. But for this process to work in an optimal fashion, investors – and subsequently markets – must have a way to interpret uncertainty. The investor rationality and market efficiency literature utilizes a methodology inadequate to address this fact, so I supplement it with the perspectives of epistemology, economic sociology, neuroscience, cognitive science, and philosophy of mind. This approach suggests that what is commonly viewed as market “inefficiency” is not necessarily caused by investor irrationality, but rather by the inherent nature of the epistemological problem faced by …
International Comparisons Of Bank Regulation, Liberalization, And Banking Crises, Puspa Amri, Apanard P. Angkinand, Clas Wihlborg
International Comparisons Of Bank Regulation, Liberalization, And Banking Crises, Puspa Amri, Apanard P. Angkinand, Clas Wihlborg
Business Faculty Articles and Research
Purpose: The recurrence of banking crises throughout the 1980s and 1990s, and in the more recent 2008-09 global financial crisis, has led to an expanding empirical literature on crisis explanation and prediction. This paper provides an analytical review of proxies for and important determinants of banking crises − credit growth, financial liberalization, bank regulation and supervision.
Design/Methodology/Approach: The study surveys the banking crisis literature by comparing proxies for and measures of banking crises and policy-related variables in the literature. Advantages and disadvantages of different proxies are discussed.
Findings: Disagreements about determinants of banking crises are in part …
The Political Economy Of Fraud On The Market, William W. Bratton, Michael L. Wachter
The Political Economy Of Fraud On The Market, William W. Bratton, Michael L. Wachter
All Faculty Scholarship
No abstract provided.
Financial Stability Is A Volume Business: A Comment On The Legal Infrastructure Of Ex Post Consumer Debtor Protections, Anna Gelpern
Financial Stability Is A Volume Business: A Comment On The Legal Infrastructure Of Ex Post Consumer Debtor Protections, Anna Gelpern
Georgetown Law Faculty Publications and Other Works
Professor Melissa B. Jacoby's essay pays homage to Stewart Macaulay's classic study of the Magnuson-Moss Warranty Act, a U.S. federal consumer protection law that, according to Macaulay, was virtually unknown to the lawyers whose clients needed it the most. The moral of Macaulay's study is that even good consumer protection laws on the books often fail to deliver in action for complex cultural, institutional, and economic reasons. Yet reducing Professor Jacoby's essay to this very important moral undersells its contribution. A fragmented infrastructure for legal service delivery of the sort she describes does not merely fail consumers more often than …
The New Financial Deal: Understanding The Dodd-Frank Act And Its (Unintended) Consequences, David A. Skeel Jr.
The New Financial Deal: Understanding The Dodd-Frank Act And Its (Unintended) Consequences, David A. Skeel Jr.
All Faculty Scholarship
Contrary to rumors that the Dodd-Frank Act is an incoherent mess, its 2,319 pages have two very clear objectives: limiting the risk of the shadow banking system by more carefully regulating derivatives and large financial institutions; and limiting the damage caused by a financial institution’s failure. The new legislation also has a theme: government partnership with the largest Wall Street banks. The vision emerged almost by accident from the Bear Stearns and AIG bailouts of 2008 and the commandeering of the bankruptcy process to rescue Chrysler and GM in 2009. Its implications for derivatives regulation could prove beneficial: Dodd-Frank will …
Leveraged Etfs: The Trojan Horse Has Passed The Margin-Rule Gates, William M. Humphries
Leveraged Etfs: The Trojan Horse Has Passed The Margin-Rule Gates, William M. Humphries
Seattle University Law Review
What do the Great Depression, the Great Recession, and the demise of Lehman Brothers and Bear Sterns all have in common? One word: leverage. The misuse of leverage, in all its forms, contributed greatly to all of these events. Yet even today, common investors can purchase a leveraged exchange-traded fund (leveraged ETF), a complex product that uses leverage to increase returns, without triggering applicable laws designed to regulate the use of leverage. This Comment articulates the basics surrounding the functions and operations of leveraged ETFs and margin rules in order to assess the compatibility of the two. The Comment argues …
Sovereignty, Accountability, And The Wealth Fund Governance Conundrum, Anna Gelpern
Sovereignty, Accountability, And The Wealth Fund Governance Conundrum, Anna Gelpern
Georgetown Law Faculty Publications and Other Works
Sovereign wealth funds – state-controlled transnational portfolio investment vehicles – began as an externally imposed category in search of a definition. SWFs from different countries had little in common and no particular desire to collaborate. But SWFs as a group implicated the triple challenge of securing cooperation between deficit and surplus states, designing a legal framework for global capital flows, and integrating state actors in the transnational marketplace. This Article describes how an apparently artificial grouping of investors, made salient by the historical and political circumstances of their host states in the mid-2000s, became a vehicle for addressing some of …
A Logica De Acumulação Capitalista E O Racionamento Da Oferta De Crédito, Amilton Bispo Dos Reis
A Logica De Acumulação Capitalista E O Racionamento Da Oferta De Crédito, Amilton Bispo Dos Reis
Amilton Bispo dos Reis
Este texto deriva da dissertação de mestrado do autor - Crédito para MPES: Análise da Experiência Brasileira Recente - e pretende analisar o atendimento à demanda de crédito das micro e pequenas empresas por parte do sistema bancário, enfatizando as peculiaridades do mercado brasileiro, com o objetivo de identificar em que medida esse caso particular se aproxima ou se afasta do padrão geral apresentado no resto do mundo. Parte-se dos conceitos expostos por Marx sobre o desenvolvimento do sistema de crédito, demonstrando a sua importância fundamental no processo de reprodução do capital. Posteriormente, a partir da constatação de que as …
An End To Too Big To Let Fail? The Dodd–Frank Act’S Orderly Liquidation Authority, Thomas J. Fitzpatrick Iv, James B. Thomson
An End To Too Big To Let Fail? The Dodd–Frank Act’S Orderly Liquidation Authority, Thomas J. Fitzpatrick Iv, James B. Thomson
James Thomson
One of the changes introduced by the sweeping new fi nancial market legislation of the Dodd–Frank Act is the provision of a formal process for liquidating large fi nancial fi rms—something that would have been useful in 2008, when troubles at Lehman Brothers, AIG, and Merrill Lynch threatened to damage the entire U.S. fi nancial system. While it may not be the end of the too-big-to-fail problem, the orderly liquidation authority is an important new tool in the regulatory toolkit. It will enable regulators to safely close and wind up the affairs of those distressed fi nancial fi rms whose …