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Articles 1 - 30 of 168
Full-Text Articles in Law
Foreign Investments And The Market For Law, Susan Franck
Foreign Investments And The Market For Law, Susan Franck
Articles in Law Reviews & Other Academic Journals
In this Article, Professors O'Hara O'Connor and Franck adapt and extend Larry Ribstein's positive framework for analyzing the role of jurisdictional competition in the law market. Specifically, the authors provide an institutional framework focused on interest group representation that can be used to balance the tensions underlying foreign investment law, including the desire to compete to attract investments and countervailing preferences to retain domestic policy-making discretion. The framework has implications for the respective roles of BITs and investment contracts as well as the inclusion and interpretation of various foreign investment provisions.
Nonprofit Executive Pay As An Agency Problem: Evidence From U.S. Colleges And Universities, David I. Walker, Brian D. Galle
Nonprofit Executive Pay As An Agency Problem: Evidence From U.S. Colleges And Universities, David I. Walker, Brian D. Galle
Faculty Scholarship
We analyze the determinants of the compensation of private college and university presidents from 1999 through 2007. We find that the fraction of institutional revenue derived from current donations is negatively associated with compensation and that presidents of religiously-affiliated institutions receive lower levels of compensation. Looking at the determinants of contributions, we find a negative association between presidential pay and subsequent donations. We interpret these results as consistent with the hypotheses that donors to nonprofits are sensitive to executive pay and that stakeholder outrage plays a role in constraining that pay. We discuss the implications of these findings for the …
The Use And Abuse Of Labor's Capital, David H. Webber
The Use And Abuse Of Labor's Capital, David H. Webber
Faculty Scholarship
The recent financial crisis has jeopardized the retirement savings of twenty-seven million Americans who depend on public pension funds, leading to cuts in benefits, increased employee contributions, job losses, and the rollback of legal rights like collective bargaining. This Article examines ways in which public pension funds invest against the economic interests of their own participants and beneficiaries, and the legal implications of these investments. In particular, the Article focuses on the use of public pensions to fund privatization of public employee jobs. Under the ascendant — and flawed — interpretation of the fiduciary duty of loyalty, public pension trustees …
Delaware’S Familiarity, Brian J. Broughman, Darian M. Ibrahim
Delaware’S Familiarity, Brian J. Broughman, Darian M. Ibrahim
Popular Media
No abstract provided.
Toward Win-Win Sustainable Development, Linda Moon
Toward Win-Win Sustainable Development, Linda Moon
Columbia Center on Sustainable Investment Staff Publications
An interview with Lisa Sachs, Director of the Columbia Center on Sustainable Investment.
Saving Sharks By Nudging Change, Tan K. B. Eugene
Saving Sharks By Nudging Change, Tan K. B. Eugene
Research Collection Yong Pung How School Of Law
In a commentary, SMU Associate Professor of Law and an ‘I’m FINished with FINS’ campaign ambassador Eugene Tan welcomed Parliament’s passing of the Animals and Birds (Amendment) Bill. He commented that the Bill, which seeks to enhance the welfare and responsible care of animals, is important as he felt that our treatment of non-human beings, which share the same space we do, speaks equally to what we are as a society as well as our sense of well-being and responsibility to creatures unable to protect themselves. Citing the silent, unfolding phenomenon of the declining popularity of shark’s fin soup in …
Market Efficiency And The Problem Of Retail Flight, Alicia J. Davis
Market Efficiency And The Problem Of Retail Flight, Alicia J. Davis
Articles
In 1950, 91 % of common stock in the U.S. was owned directly by individual inves tors. Today, that percentage stands at only 23%. The mass exodus of retail investors and their investment dollars has negative implications not only for capital formation and investor protection, but also for market efficiency. Individual investors are often assumed to be noise traders who distort stock prices and harm market functioning. Therefore, some argue that their withdrawal from the market should be of little concern; indeed, it should be celebrated. Recent empirical evidence calls this assertion of retail noise trading into doubt, and this …
Fearless Friday: Gettysburg Anti-Capitalist Collective, Christina L. Bassler
Fearless Friday: Gettysburg Anti-Capitalist Collective, Christina L. Bassler
SURGE
The Gettysburg Anti-Capitalist Collective, also known as GACC, is a recent yet active addition to the campus community. Through their participation in debates, weekly meetings, and organization of events (most notably Wednesday night’s concert featuring political activists Evan Greer and Anne Feeney), GACC provides a forum for discussing and learning about leftist politics. On a campus that many would describe as highly conservative, GACC and its members are nothing short of fearless. [excerpt]
Up Close And Personal With Delaware, Darian M. Ibrahim, Brian J. Broughman
Up Close And Personal With Delaware, Darian M. Ibrahim, Brian J. Broughman
Popular Media
No abstract provided.
Empirical Law And Economics, Jonah B. Gelbach, Jonathan Klick
Empirical Law And Economics, Jonah B. Gelbach, Jonathan Klick
All Faculty Scholarship
Empirical work has grown in importance in law and economics. This growth coincides with improvements in research designs in empirical microeconomics more generally. In this essay, we provide a stylized discussion of some trends over the last two or three decades, linking the credibility revolution in empirical micro to the ascendancy of empirical work in law and economics. We then provide some methodological observations about a number of commonly used approaches to estimating policy effects. The literature on the economics of crime and criminal procedure illustrates the ways in which many of these techniques have been used successfully. Other fields, …
Downstream Securities Regulation, Anita Krug
Downstream Securities Regulation, Anita Krug
All Faculty Scholarship
Securities regulation wears two hats. Its “upstream” side governs firms in connection with their obtaining financing in the securities markets. That is, it regulates firms’ and issuers’ offers and sales of securities, whether in public offerings to retail investors or in private offerings to institutional investors. Its “downstream” side, by contrast, governs financial services providers, who assist with investors’ activities in those markets. Their services include providing advice regarding securities investments, as investment advisers do; aggregating investors’ assets for purposes of enabling those investors to invest their assets collectively, as mutual funds do; and acting as “middlemen” between buyers and …
The Effect Of The Syrian Crisis On Jordanian Internal Security, Andrew E. Szparaga
The Effect Of The Syrian Crisis On Jordanian Internal Security, Andrew E. Szparaga
Independent Study Project (ISP) Collection
Jordan has a refugee crisis; between 620,000 and 1.3 million Syrian refugees are seeking refuge in Jordan. This report aims to answer which aspect of Jordanian security the refugees have the biggest effect on. It also aims to answer whether the refugees based in camps, like Za’atari, or those integrated into the Jordanian communities are more threatening to internal security. Because many argue that Syrian refugees have a negative effect on the economic, environmental, military, political, and social securities of Jordan, many believe that they might pose a possible threat to the country’s internal security factors. The Syrian refugees have …
The Limits Of Private Ordering Within Modern Financial Markets, Dan Awrey
The Limits Of Private Ordering Within Modern Financial Markets, Dan Awrey
Cornell Law Faculty Publications
From standardized contracts for loans, repurchase agreements, and derivatives, to stock exchanges and alternative trading platforms, to benchmark interest and foreign exchange rates, private market structures play a number of important roles within modern financial markets. These market structures hold out a number of significant benefits. Specifically, by harnessing the powerful incentives of market participants, these market structures can help lower information, agency, coordination, and other transaction costs, enhance the process of price discovery, and promote greater market liquidity. Simultaneously, however, successful market structures are the source of significant and often overlooked market distortions. These distortions--or limits of private ordering--stem …
High Technology, Consumer Privacy, And U.S. National Security : Hearing Before The Subcomm. On Commerce, Manufacturing, And Trade Of The H. Comm. On Energy And Commerce, 113th Cong., September 17, 2014 (Remarks By Professor Laura K. Donohue, Geo. U. L. Center), Laura K. Donohue
Testimony Before Congress
Documents released over the past year detailing the National Security Agency’s telephony metadata collection program and interception of international content under the Foreign Intelligence Surveillance Act (FISA) directly implicated U.S. high technology companies in government surveillance. The result was an immediate, and detrimental, impact on U.S. firms, the economy, and U.S. national security.
The first Snowden documents, printed June 5, 2013, revealed that the U.S. government had served orders on Verizon, directing the company to turn over telephony metadata under Section 215 of the USA PATRIOT Act. The following day, The Guardian published classified slides detailing how the NSA had …
Which Patent Systems Are Better For Inventors?, James Bessen, Grid Thoma
Which Patent Systems Are Better For Inventors?, James Bessen, Grid Thoma
Faculty Scholarship
International comparisons of patent systems are essential to harmonization treaties and to analyze economic growth. Yet these comparisons often rely on little but conventional wisdom. This paper develops an empirical method to compare the economic strength and quality of patent systems by using renewal analysis of matched patents in different countries (same patent family). Comparing patents on the same inventions filed at the EPO for Germany and in the US, we find that the German patents generate substantially greater market power than their US equivalents, especially for small inventors. Also, the average US patent has relatively lower economic value (“quality”).
The 3rd Annual Professor Anthony J. Santoro Business Law Lecture Series: The Business Of Law: Disruptions In The Market For Legal Services, Roger Williams University School Of Law
The 3rd Annual Professor Anthony J. Santoro Business Law Lecture Series: The Business Of Law: Disruptions In The Market For Legal Services, Roger Williams University School Of Law
School of Law Conferences, Lectures & Events
No abstract provided.
International Standards In Flux: A Balkanized Ict Standard-Setting Paradigm And Its Implications For The Wto, Han-Wei Liu
International Standards In Flux: A Balkanized Ict Standard-Setting Paradigm And Its Implications For The Wto, Han-Wei Liu
Research Collection Yong Pung How School Of Law
Voluminous studies have documented the rise of international standards and their ramifications for the World Trade Organization (WTO), though most of these studies have focused on environment, food safety, public health, and financial regulations issues. An equally important, yet less explored, area is the information and communications technology (ICT) industry. This article seeks to contribute to the literature by examining the concept of an international standard in the ICT industry and its implications for the WTO.Drawing upon empirical data, this article makes four claims. First, today, the WTO policymakers are facing a ‘balkanized’ standard-setting paradigm in the ICT sector. Global …
The Appropriate Legal Standard And Sufficient Economic Evidence For Exclusive Dealing Under Section 2: The Ftc’S Mcwane Case, Steven C. Salop, Sharis A. Pozen, John R. Seward
The Appropriate Legal Standard And Sufficient Economic Evidence For Exclusive Dealing Under Section 2: The Ftc’S Mcwane Case, Steven C. Salop, Sharis A. Pozen, John R. Seward
Georgetown Law Faculty Publications and Other Works
The FTC recently found McWane, Inc. liable for unlawful monopoly maintenance by a 3-1 majority. The dispute among the FTC Commissioners raises important and interesting issues regarding the law and economics of exclusive dealing and the proper evaluation of the competitive effects of exclusionary conduct. Commissioner Wright’s Dissent proposes and utilizes a new legal standard that requires the plaintiff to show “clear evidence” of harm to competition before shifting the burden to the defendant to show procompetitive efficiency benefits. This burden of proof and production on the plaintiff is much higher than showing “probable effect” based on a preponderance of …
Public Good Economics And Standard Essential Patents, Christopher S. Yoo
Public Good Economics And Standard Essential Patents, Christopher S. Yoo
All Faculty Scholarship
Standard essential patents have emerged as a major focus in both the public policy and academic arenas. The primary concern is that once a patented technology has been incorporated into a standard, the standard can effectively insulate it from competition from substitute technologies. To guard against the appropriation of quasi-rents that are the product of the standard setting process rather than the innovation itself, standard setting organizations (SSOs) require patentholders to disclose their relevant intellectual property before the standard has been adopted and to commit to license those rights on terms that are fair, reasonable, and non-discriminatory (FRAND).
To date …
Public Law At The Cathedral: Enjoining The Government, Michael T. Morley
Public Law At The Cathedral: Enjoining The Government, Michael T. Morley
Scholarly Publications
Conventional wisdom provides that injunctive relief in public law cases is generally unnecessary, because a declaratory judgment and the threat of damages are enough to induce the government to comply with a court’s ruling (except, perhaps, in the institutional reform context). Consistent with this prevailing understanding, most scholars to apply Calabresi and Melamed’s Cathedral framework to public law have concluded that nearly all constitutional rights are protected by property rules, regardless of whether a rightholder actually is protected by an injunction, or instead merely has a substantial likelihood of obtaining one if she goes to court.
This Article challenges this …
New York Stock Exchange, Bert Chapman
New York Stock Exchange, Bert Chapman
Libraries Faculty and Staff Scholarship and Research
Provides a historical overview of the origins and early development of the New York Stock Exchange.
Revenue, U.S. Government, Bert Chapman
Revenue, U.S. Government, Bert Chapman
Libraries Faculty and Staff Scholarship and Research
Provides a historical overview of U.S. Government revenue receipts and spending during the early years of national history. Presents revenue generation statistics, information on revenue sources, and information on domestic and international political and economic factors affecting government revenue receipts.
Relevance Of The Regulatory State In North/South Intersections, Mark Findlay, Si Wei Lim
Relevance Of The Regulatory State In North/South Intersections, Mark Findlay, Si Wei Lim
Research Collection Yong Pung How School Of Law
Purpose – What seems like a new social anthropology of global regulation is an endeavour much too grand for this paper, even though it has much merit. To contain the analysis which follows, the discussion of social embeddedness will be restricted to a comparison of markets which retain some local or regional integrity from those which have become largely removed from cultural or communal social bonds. An example is between markets trading in goods and services with a consumer base which is local and subsistence, and markets in derivative products that are inextricably dependent on supranational location. The paper aims …
Framing A Purpose For Corporate Law, William W. Bratton
Framing A Purpose For Corporate Law, William W. Bratton
All Faculty Scholarship
This article seeks to frame a short statement of purpose for corporate law on which all reasonable observers can agree. The statement, in order to succeed at its intended purpose, must satisfy two strict conditions: first, it must have enough content to be meaningful; second, it must be completely uncontroversial, both descriptively and normatively. The exercise, thus described, involves avoiding the issues that occupy center stage in discussions about corporate law while at the same time highlighting the discussants’ generally held presuppositions. Three closely interconnected issues arise. First, whether the statement of the purpose of corporate law should speak in …
Paternalism, Public Health, And Behavioral Economics: A Problematic Combination, Wendy K. Mariner
Paternalism, Public Health, And Behavioral Economics: A Problematic Combination, Wendy K. Mariner
Faculty Scholarship
Some critiques of public health regulations assume that measures directed at industry should be considered paternalistic whenever they limit any consumer choices. Given the presumption against paternalistic measures, this conception of paternalism puts government proposals to regulate industry to the same stringent proof as clearly paternalist proposals to directly regulate individuals for their own benefit. The result is to discourage regulating industry in ways that protect the public from harm and instead to encourage regulating individuals for their own good -- quite the opposite of what one would expect from a rejection of paternalism. Arguments favoring "soft paternalism" to justify …
Nuisance, Keith N. Hylton
Nuisance, Keith N. Hylton
Faculty Scholarship
This entry sets out the law and the economic theory of nuisance. Nuisance law serves a regulatory function: it induces actors to choose the socially preferred level of an activity by imposing liability when the externalized costs of the activity are substantially greater than the externalized benefits or not reciprocal to other background external costs. Proximate cause doctrine plays a role in supplementing nuisance law.
U.S. Vs. European Broadband Deployment: What Do The Data Say?, Christopher S. Yoo
U.S. Vs. European Broadband Deployment: What Do The Data Say?, Christopher S. Yoo
All Faculty Scholarship
As the Internet becomes more important to the everyday lives of people around the world, commentators have tried to identify the best policies increasing the deployment and adoption of high-speed broadband technologies. Some claim that the European model of service-based competition, induced by telephone-style regulation, has outperformed the facilities-based competition underlying the US approach to promoting broadband deployment. The mapping studies conducted by the US and the EU for 2011 and 2012 reveal that the US led the EU in many broadband metrics.
• High-Speed Access: A far greater percentage of US households had access to Next Generation Access (NGA) …
Sales Suppression As A Service (Ssaas) & The Apple Store Solution, Richard Thompson Ainsworth
Sales Suppression As A Service (Ssaas) & The Apple Store Solution, Richard Thompson Ainsworth
Faculty Scholarship
The problem of sales suppression fraud is estimated to cost state and local governments $20 billion annually ($2 billion in New York restaurants alone). Modern sales suppression (skimming) is carried out with technology (Zappers and Phantom-ware). Nine undercover sting operations in and around Manhattan and the Bronx by investigators working for New York’s Department of Taxation and Finance (NY-DT&F) have identified the SSaaS variant of modern skimming.
A striking example of SSaaS may be unfolding in the $1 million sales suppression case against Congressman Michael Grimm (R-NY). It is alleged that Grimm skimmed sales from his Healthalicious restaurant in Manhattan, …
Competition Policy And The Technologies Of Information, Herbert J. Hovenkamp
Competition Policy And The Technologies Of Information, Herbert J. Hovenkamp
All Faculty Scholarship
When we speak about information and competition policy we are usually thinking about oral or written communications that have an anticompetitive potential, and mainly in the context of collusion of exclusionary threats. These are important topics. Indeed, among the most difficult problems that competition policy has had to confront over the years is understanding communications that can be construed as either threats to exclude or as offers to collude or facilitators of collusion.
My topic here, however, is the relationship between information technologies and competition policy. Technological change can both induce and undermine the use of information to facilitate anticompetitive …
Antitrust And The Close Look: Transaction Cost Economics In Competition Policy, Herbert J. Hovenkamp
Antitrust And The Close Look: Transaction Cost Economics In Competition Policy, Herbert J. Hovenkamp
All Faculty Scholarship
This paper briefly examines the contributions of Transaction Cost Economics (TCE) to antitrust analysis, focusing on vertical integration and its contractual substitutes, mainly, minimum and maximum resale price maintenance, vertical nonprice restraints, tying, bundled discounts and exclusive dealing and related exclusionary contracts.
TCE generally assumes that business firms organize their activities so as to maximize their value, which they can do both by economizing and also by obtaining higher prices. Sensible antitrust policy recognizes that both advantageous contracting and monopoly can be profitable to a firm, and it can be expected to pursue both when they are available. Nevertheless, the …