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Articles 1 - 9 of 9
Full-Text Articles in Law
Private Equity's Three Lessons For Agency Theory, William Wilson Bratton
Private Equity's Three Lessons For Agency Theory, William Wilson Bratton
Articles
It is time to consider the lessons to be learned from the recent boom in private equity buyouts, not least in view of its abrupt termination in the wake of tightened credit. In the past, such inquiries have been undertaken in the context of agency theory and have focused on the buyout's implications for solving the problem of separation of ownership and control. This article reverses the pattern of inquiry to consider the buyout's implications for agency theory, pointing to three lessons. The first lesson addresses agency theory's three-way association among control transfers, governance discipline and hostile takeovers, suggesting that …
Private Equity's Three Lessons For Agency Theory, William Wilson Bratton
Private Equity's Three Lessons For Agency Theory, William Wilson Bratton
Articles
No abstract provided.
Consumers Of Financial Services And Multi-Level Regulation In The European Union, Caroline Bradley
Consumers Of Financial Services And Multi-Level Regulation In The European Union, Caroline Bradley
Articles
No abstract provided.
Did Bankruptcy Reform Fail? An Empirical Study Of Consumer Debtors, Robert M. Lawless, Angela K. Littwin, Katherine M. Porter, John A. E. Pottow, Deborah K. Thorne, Elizabeth Warren
Did Bankruptcy Reform Fail? An Empirical Study Of Consumer Debtors, Robert M. Lawless, Angela K. Littwin, Katherine M. Porter, John A. E. Pottow, Deborah K. Thorne, Elizabeth Warren
Articles
Before 2005, many people went broke and many filed for bankruptcy. After 2005, many people still go broke, but not so many file for bankruptcy. Why has the number of bankruptcies declined? Surely it is not the economy. All throughout the 2000s, families have been under increasing economic pressure. Median family incomes have declined, basic expenses have risen, and families are shouldering unprecedented debt loads. Defaults remain high for credit cards and car loans, while mortgage foreclosures have soared. By 2008, over half of all Americans reported that their incomes were falling behind their cost of living. These data all …
Baghdad Booksellers, Basra Carpet Merchants, And The Law Of God And Man: Legal Pluralism And The Contemporary Muslim Experience, Haider Ala Hamoudi
Baghdad Booksellers, Basra Carpet Merchants, And The Law Of God And Man: Legal Pluralism And The Contemporary Muslim Experience, Haider Ala Hamoudi
Articles
There is a crisis in our law schools in the study of Islamic law and the law of the Muslim polities. The current approaches either focus exclusively on national codes to the derogation of other vitally important influences on the legal order, most importantly the body of norms and rules derived from Islamic foundational texts known as the shari'a, or they regard as secondary, and at times irrelevant, the actual legal order of the societies in favor of an academic construction of the theories of medieval Muslim jurists. Neither of these approaches reflects with a necessary degree of accuracy the …
Confusion And Convergence In Consumer Payments: Is Coherence In Error Resolution Appropriate?, Anita Ramasastry
Confusion And Convergence In Consumer Payments: Is Coherence In Error Resolution Appropriate?, Anita Ramasastry
Articles
At present, there are no uniform rules governing retail payment systems in the United States. Checks, credit cards, debit cards, and new types of payment systems—such as stored-value cards and prepaid cards—are governed by different rules and provide consumers with varying protections. In addition, several phenomena may have confused consumers about the type of consumer protections they have when using different payment systems. First, new types of intermediaries have developed—such as online funds transmission and electronic bill presentment and payment—that piggyback on existing payment systems. Second, electronic check conversion systems may convert customer checks into a different payment system—electronic funds …
You Say You Want A Revolution: Interpretive Communities And The Origins Of Islamic Finance, Haider Ala Hamoudi
You Say You Want A Revolution: Interpretive Communities And The Origins Of Islamic Finance, Haider Ala Hamoudi
Articles
Despite its currently conservative character, the modern practice of Islamic finance lies on a bedrock of social, cultural and economic revolution. Examination of these revolutionary origins and their attendant jurisprudential implications reveal much about the schizophrenia plaguing Islamic finance today, of a largely formalist practice repeating the functional aims of the early revolutionaries and falsely understood by substantial portions of the wider Muslim community to be achieving such aims. Though the revolution has not come to pass, some of the comparatively radical functional approaches conceived in the context of the anticipated upheaval, and in particular those of the Iraqi Shi'i …
A View Of The Dutch Ipo Cathedral, Peter B. Oh
A View Of The Dutch Ipo Cathedral, Peter B. Oh
Articles
This is the Keynote Address for "IPOs and the Internet Age: The Case for Updated Regulations," a symposium held at The Ohio State University Michael E. Moritz College of Law. Initial public offerings ("IPOs") are an exercise in asymmetrical valuation. One mechanism for bridging these asymmetries is a private financial intermediary to conduct price discovery by meeting with preferred investors. An alternate mechanism is an auction, such as a descending-bid or Dutch procedure, to conduct price discovery by soliciting bids from all prospective investors. Recent disenchantment with the relationship between issuers and intermediaries has prompted some to hail (online) auction-based …
Third-Party Tax Administration: The Case Of Low- And Moderate-Income Households, Michael S. Barr, Jane K. Dokko
Third-Party Tax Administration: The Case Of Low- And Moderate-Income Households, Michael S. Barr, Jane K. Dokko
Articles
Using a unique household-level data set, this article investigates the taxfiling experiences and refund behavior of low- and moderate-income (LMI) households. We document households' tax-filing behavior, attitudes about the withholding system, use of tax refunds to consume and save, and the mechanisms by which households would prefer to receive their income. We also document the prevalence of the use of tax-preparation services and the receipt of tax refunds and refund-anticipation loans. Finally, we argue that there may be a role for tax administration to enable LMI households to make welfare-improving financial decisions.