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Full-Text Articles in Law
An Approach To The Regulation Of Spanish Banking Foundations, Miguel Martínez
An Approach To The Regulation Of Spanish Banking Foundations, Miguel Martínez
Miguel Martínez
The purpose of this paper is to analyze the legal framework governing banking foundations as they have been regulated by Spanish Act 26/2013, of December 27th, on savings banks and banking foundations. Title 2 of this regulation addresses a construct that is groundbreaking for the Spanish legal system, still of paramount importance for the entire financial system insofar as these foundations become the leading players behind certain banking institutions given the high interest that foundations hold in the share capital of such institutions.
On The Public-Law Character Of Competition Law: A Lesson Of Asian Capitalism, Michael Dowdle
On The Public-Law Character Of Competition Law: A Lesson Of Asian Capitalism, Michael Dowdle
Michael Dowdle
This article argues that competition law is best seen as a form of public law – ‘the law that governs the governing of the state – and not as simply a form of private market regulation. It uses the experiences of ‘Asian capitalism’ to show how capitalist economies are in fact much more variegated than the orthodox model of competition law presumes, and that this variegated character demands a form of regulation that is innately political rather than simply technical. Orthodox competition regimes address this complexity by segregating non-standard capitalisms into alternative doctrinal jurisprudences, but this renders conceptually invisible the …
The Rise And Rise Of The One Percent: Getting To Thomas Piketty's Wealth Dystopia, Shi-Ling Hsu
The Rise And Rise Of The One Percent: Getting To Thomas Piketty's Wealth Dystopia, Shi-Ling Hsu
Shi-Ling Hsu
Thomas Piketty's Capital in the Twenty-first Century, which is surely one of the very few economics treatises ever to be a best-seller, has parachuted into an intensely emotional and deeply divisive American debate: the problem of inequality in the United States. Piketty's core argument is that throughout history, the rate of return on private capital has usually exceeded the rate of economic growth, expressed by Piketty as the relation r > g. If true, this relation means that the wealthy class – who are the predominant owners of capital – will grow their wealth faster than economies grow, which …
Rise Of The Intercontinentalexchange And Implications Of Its Merger With Nyse Euronext, Latoya C. Brown
Rise Of The Intercontinentalexchange And Implications Of Its Merger With Nyse Euronext, Latoya C. Brown
Latoya C. Brown, Esq.
This paper examines the impending merger between the IntercontinentalExchange (ICE) and NYSE Euronext against the backdrop of the current structure of the global financial services industry. The paper concludes that the merger embodies what the financial services industry is becoming and captures the model that will allow exchanges to remain competitive in today’s marketplace: mega-exchanges with broader asset classes and electronic platforms. As technology and globalization threaten their vitality, exchanges will need to continue reinventing and adapting. Increasingly over the last decade they have done so by merging and by moving, at least a part of, their operations on screen. …
The Regulation Of U.S. Money Market Funds: Lessons From Europe, Latoya C. Brown
The Regulation Of U.S. Money Market Funds: Lessons From Europe, Latoya C. Brown
Latoya C. Brown, Esq.
The recent financial crisis challenged long held perceptions of money market funds (“MMFs”) as stable and highly liquid instruments. Regulators in the US and in Europe now seek to impose additional rules on MMFs to avoid another significant failure as happened to the Reserve Fund. In the US, the debate is drawing even more media attention as question of which regulatory body - such as the Securities and Exchange Commission, the Treasury Department, and the Financial Stability Oversight Council – should lead the way has taken interesting twists and turns. This paper examines primary reform options being proposed in the …
Multisidedness In Ambito Sportivo: Alla Ricerca Di Un Grimaldello Esegetico, Valerio Cosimo Romano, Roberto Pardolesi
Multisidedness In Ambito Sportivo: Alla Ricerca Di Un Grimaldello Esegetico, Valerio Cosimo Romano, Roberto Pardolesi
Valerio Cosimo Romano
No abstract provided.
Competition Law And Sector Regulation In The European Energy Market After The Third Energy Package: Hierarchy And Efficiency, Michael Diathesopoulos
Competition Law And Sector Regulation In The European Energy Market After The Third Energy Package: Hierarchy And Efficiency, Michael Diathesopoulos
Michael Diathesopoulos
The aim of this research is to provide the basic parameters for a model for the definition of the relation between the general competition and sector specific frameworks and rules regarding the regulation of the Internal Energy Market, especially after the Third Energy Package. The research considers the recent sector specific framework in relation to a series of recent competition law cases of the Energy Market where structural remedies were applied under the commitments procedure. Essential facilities doctrine and generally competition law tools do not seem to provide a suitable framework for effectively addressing the dynamic competition concept, treating the …
From Energy Sector Inquiry To Recent Antitrust Decisions In European Energy Markets: Competition Law As A Means To Implement Energy Sector Regulation In Eu, Michael Diathesopoulos
From Energy Sector Inquiry To Recent Antitrust Decisions In European Energy Markets: Competition Law As A Means To Implement Energy Sector Regulation In Eu, Michael Diathesopoulos
Michael Diathesopoulos
This paper presents the conceptual path followed by European Union, European Commission and European Competition Network, after the Energy Sector Inquiry (2007) towards the realisation of the objective of an Energy Internal Market, fully functional and open to competition. Firstly, we examine the findings of Sector Inquiry and then we describe how the Third Energy Package - that followed - tried to address the issues highlighted by the Inquiry and how Third Energy Package introduces a promising but complex system, in order to develop sector rules. Following the above, we proceed to a brief but close examination of 10 recent …
An Economic Assessment Of Patent Settlements In The Pharmaceutical Industry, Bret Dickey, Jonathan Orszag, Laura Tyson
An Economic Assessment Of Patent Settlements In The Pharmaceutical Industry, Bret Dickey, Jonathan Orszag, Laura Tyson
Bret Dickey
In recent years, patent settlements between branded and generic manufacturers involving “reverse payments” from branded manufacturers to generic manufacturers have received close antitrust scrutiny, driven by concerns that such settlements harm consumers by delaying the entry of lower-priced generic drugs. It appears that such settlements will be a focus of the Obama Administration’s antitrust enforcement policy. Yet there is a growing consensus among the courts that such settlements are anticompetitive only under narrow sets of circumstances. In this paper, we present an analytical framework for evaluating the competitive effects of patent settlements, including those involving reverse payments, and demonstrate that …
Striking An Efficient Balance: Making Sense Of Antitrust Standing In Class Action Certification Motions, Kelly J. Bozanic
Striking An Efficient Balance: Making Sense Of Antitrust Standing In Class Action Certification Motions, Kelly J. Bozanic
Kelly J. Bozanic
Class actions are powerful litigation devices, especially in antitrust cases. Plaintiffs who otherwise would not have the economic incentive to pursue judicial redress are vested with status as equal players in the commercial marketplace. The aims of both the antitrust laws and Rule 23(b)(3) of the Federal Rules of Civil Procedure are served through class actions, yet class actions also bear the potential of negatively impacting the consuming public. This is so, because district court judges considering certification motions face seemingly contradictory standards when it comes to certifying an antitrust class. As a result, plaintiff classes are often given an …
The Reasonable Certainty Requirement In Lost Profits Litigation: What It Really Means, Robert M. Lloyd
The Reasonable Certainty Requirement In Lost Profits Litigation: What It Really Means, Robert M. Lloyd
Robert M Lloyd
This article explains the factors courts consider when determining whether to award damages for lost profits. It contains an extensive review of the case law.
A Comparison Among The Director Networks In The Main Listed Companies In France, Germany, Italy, And The United Kingdom, Paolo Santella, Carlo Drago, Andrea Polo, Enrico Gagliardi
A Comparison Among The Director Networks In The Main Listed Companies In France, Germany, Italy, And The United Kingdom, Paolo Santella, Carlo Drago, Andrea Polo, Enrico Gagliardi
Paolo Santella
The purpose of this paper is to contribute to the literature on director interlocks by illustrating and analysing the interlocking directorships among the Italian, French, German, UK and US listed Blue Chips. The comparison of the five countries considered shows that two national models stand out. On the one hand a model made of a high number of companies linked to each other through a small number of shared directors who serve on several company boards at the time (France, Germany, and Italy). On the other hand, in the UK much fewer companies are connected to each other essentially through …
Of Mice And Men: Why An Anticommons Has Not Emerged In The Biotechnological Realm, Chester J. Shiu
Of Mice And Men: Why An Anticommons Has Not Emerged In The Biotechnological Realm, Chester J. Shiu
Chester J Shiu
In 1998 Michael Heller and Rebecca Eisenberg posited that excessive patenting of fundamental biomedical innovations might create a “tragedy of the anticommons.” A decade later, their dire predictions have not come to pass, an outcome which calls much of the legal scholarship on the topic into question. This Article proposes that legal commentators’ theoretical arguments have largely ignored two very important factors. First, the National Institutes of Health (NIH)—the single most important actor in the biomedical research industry—has played an active role in keeping the biomedical research domain open. In particular, regardless of what the current patent regime may theoretically …
Una Comparazione Tra Le Reti Di Amministratori Nelle Principali Societa Quotate In Italia, Francia E Gran Bretagna, Paolo Santella, Carlo Drago, Andrea Polo, Enrico Gagliardi
Una Comparazione Tra Le Reti Di Amministratori Nelle Principali Societa Quotate In Italia, Francia E Gran Bretagna, Paolo Santella, Carlo Drago, Andrea Polo, Enrico Gagliardi
Carlo Drago
The purpose of the present paper is to contribute to the empirical literature on country interlocks by illustrating and analysing the interlocking directorships in the first 40 Italian, French and British Blue Chips as of December 2007 (Italy)/March 2008 (France and uk). The theoretical literature identify two possible explanations for interlocking directorships, on the one hand the collusion among players in the same market or in general among enterprises that have business relations among themselves; on the other hand the interest for enterprises to have on their boards bankers, suppliers, and clients so as to reduce information asymmetries. Our findings …