Law Commons^™

Determinantes Explícitos E Implícitos De La Deuda Externa Pública Peruana, José Manuel Martin Coronado

José-Manuel Martin Coronado

This research aims to prove that sound economic policies are nothing more that basic conditions for the foreign public debt problem. In fact, by studying the factors of public debt issues in Peru, Latin America and the emerging economies it’s clear that some implicit economic and non-economic factors have to be considered because of the social complexity and variable characteristics in emerging economies. This causes failures in economic policies assumptions, inefficiencies, distorted causality and nonrational behavior. This paper proposes, first, to perform a deep and comparative analysis of the foreign debt determinants in emerging economies, then, to allocate financial resources, …

Valuation Averaging: A New Procedure For Resolving Valuation Disputes, Keith Sharfman

Rutgers Law School (Newark) Faculty Papers

In this Article, Professor Sharfman addresses the problem of "discretionary valuation": that courts resolve valuation disputes arbitrarily and unpredictably, thus harming litigants and society. As a solution, he proposes the enactment of "valuation averaging," a new procedure for resolving valuation disputes modeled on the algorithmic valuation processes often agreed to by sophisticated private firms in advance of any dispute. He argues that by replacing the discretion of judges and juries with a mechanical valuation process, valuation averaging would cause litigants to introduce more plausible and conciliatory valuations into evidence and thereby reduce the cost of valuation litigation and increase the …

The Petrochina Syndrome: Regulating Capital Markets In The Anti-Globalization Era, Stephen F. Diamond

Cornell Law Faculty Working Papers

This article argues that the process of globalization has generated a legitimation deficit that can be the source of wasteful, even destructive, social and political conflict. I stylize this outcome as "the PetroChina Syndrome," after a leading example of the kind of activity generated in response to globalization, the PetroChina Campaign, where a coalition of labor, human rights, environmental, anti-slavery and religious groups worked together to oppose the initial public offering of a major Chinese oil company led by Goldman Sachs. The article begins with a discussion of this important but largely unexplored dimension of the anti-globalization era triggered by …

New Jersey’S Model Response To Predatory Lending, David J. Reiss

ExpressO

As widespread media coverage has documented, predatory home lending practices have become rampant throughout the country and, notably, among low-and moderate-income and African American communities in New Jersey. Our article analyzes this emerging problem as a sometimes devastating side effect of the rapid increase in American home ownership, an otherwise almost completely desirable phenomenon.

Because predatory lending has been so difficult to define, states have struggled to regulate it. New Jersey, building on the work of a few other leading states, has drafted what many consider to be the new standard for predatory lending legislation, the Home Ownership Security Act. …

The Rational Exuberance Of Structuring Venture Capital Startups, Victor Fleischer

ExpressO

This Article takes the bursting of the dot com bubble as an opportunity to reevaluate the tax structure of venture capital startups. By organizing startups as corporations rather than as partnerships, investors and entrepreneurs seem to leave money on the table by failing to fully use tax losses -- especially since the vast majority of startups fail. Conventional wisdom attributes the lack of attention paid to losses to a "gambler's mentality" or optimism bias. I argue here that the use of the corporate form is, in fact, rational, or at least that there is a method to the madness.

I …

The Mechanisms Of Market Inefficiency: An Introduction To The New Finance, Lynn A. Stout

Cornell Law Faculty Publications

During the 1970s and early 1980s, the Efficient Capital Market Hypothesis (ECMH) became one of the most widely-accepted and influential ideas in finance economics. More recently, however, the idea of market efficiency has fallen into disrepute as a result of market events and growing empirical evidence of inefficiencies. This essay argues that the weaknesses of the efficient market theory are, and were, apparent from a careful inspection of its initial premises, including the presumptions of homogeneous investor expectations, effective arbitrage, and investor rationality. By the same token, a wide range of market phenomena inconsistent with the ECHM can be explained …

From Reluctant Champion To Development Ringmaster: Managing The Expanding Mission Of The World Bank, Jane Rueger

Indiana Journal of Global Legal Studies

No abstract provided.

The Unique Jurisprudence Of Letters Of Credit: Its Origin And Sources, Gao Xiang, Ross P. Buckley

San Diego International Law Journal

This Article seeks to illumine the legal nature of the letter of credit instrument, and catalogue the various sources of law and rules that can govern it; and, by doing so, render a service to those who must quickly come to grips with letter of credit law. The Article is in two parts. The first part examines the legal nature of the letter of credit by looking at its definition, operation, and history and by comparing it with negotiable instruments and contracts. The second part considers the rules, customs, and regulations governing letters of credit and introduces the two fundamental …

Enron At The Margin, William H. Widen

Articles

No abstract provided.

Standing Up To Wall Street (And Congress), Richard W. Painter

Michigan Law Review

In 1992, Arthur Levitt co-chaired a fundraising dinner for William Clinton. The dinner raised $750,000 (p. 7). Clinton was elected President, and Levitt got the job he wanted: Chairman of the Securities and Exchange Commission. Levitt, a former Chairman of the American Stock Exchange and a connected Democrat, was well qualified for the job. His, however, became a pyrrhic victory when accountants, issuers, broker-dealers, and other special interests used their own political connections to frustrate just about everything he sought to do. Levitt tells the story of his struggle against these well-funded interests in Take on the Street. One of …

Financing Chinese Capitalism: Principal Banks, Economic Crisis, And Chinese Family Firms In Singapore, Henry W. Yeung

Cultural Approaches to Asian Financial Markets

It is a widely circulated myth that Chinese family firms rely exclusively on kinship ties and network capital to finance their domestic and international operations. In this empirical paper, I argue that large Chinese family firms are increasingly engaging with financial markets on a global scale. In order to finance their transnational business activities, these firms require financial services from banks beyond their domestic economies, resulting in a growing number and geographical spread of their principal banks. Second, I contend that as these Chinese family firms are diversifying their principal banks beyond a narrow confinement to other Chinese family-owned banks …

23rd Annual Conference On Legal Issues For Financial Institutions, Office Of Continuing Legal Education At The University Of Kentucky College Of Law

Continuing Legal Education Materials

Materials from the 23rd Annual Conference on Legal Issues for Financial Institutions held by UK/CLE in April of 2003.

The National Association Of Securities Dealers' Arbitration Of Investor Claims Against Its Brokers: Taming The Fox That Guards The Henhouse, Paul Joseph Foley

North Carolina Banking Institute

No abstract provided.

Accounting For And Disclosure Of Special Purpose Entities By Financial Holding Companies: Lessons From Pnc Financial Services, Joyita R. Basu

North Carolina Banking Institute

No abstract provided.

Section 307 Of The Sarbanes-Oxley Act: Eroding The Legal Profession's System Of Self-Governance, Stephanie R.E. Patterson

North Carolina Banking Institute

No abstract provided.

Investment Banking Conflicts: Reserach Analysts And Ipo Allocations, Phillip Ballard Kennedy

North Carolina Banking Institute

No abstract provided.

Can Credit Union Member Business Loans Meet The Need For More Credit To Small Businesses, Katherine E. Howell-Best

North Carolina Banking Institute

No abstract provided.

A Case Study Of The Challenge Of Designing Effective Electronic Consumer Credit Disclosures: The Interim Rule For The Truth In Lending Act, Margot Saunders

North Carolina Banking Institute

No abstract provided.

The New Identity Crises: Usa Patriot Act Customer Identification Programs And The Matricula Consular As Primary Identity Verification For Mexican Nationals, Kathryn Lee Holloman

North Carolina Banking Institute

No abstract provided.

Opening Trade In Financial Services – The Chile And Singapore Examples: Hearing Before The H. Subcomm. On Domestic And International Monetary Policy, Trade And Technology, 108th Cong., Apr. 1, 2003 (Statement Of Daniel K. Tarullo, Prof. Of Law, Geo. U. L. Center), Daniel K. Tarullo

Testimony Before Congress

No abstract provided.

The Role Of Laypersons In The Closing Of Residential Real Estate Transactions: North Carolina's New Approach, Janet Kennedy Dawson

North Carolina Banking Institute

No abstract provided.

Foreword, Lissa L. Broome

North Carolina Banking Institute

No abstract provided.

Bank Governance: An Independent Director's Perspective, John D. "Jay" Cornet

North Carolina Banking Institute

No abstract provided.

An Overview Of Some Rules And Principles For Delivering Consumer Disclosures Electronically, R. David Whitaker

North Carolina Banking Institute

No abstract provided.

Replacing Paper Writings With Electronic Records In Consumer Transactions: Purposes, Pitfalls And Principles, Jean Braucher

North Carolina Banking Institute

No abstract provided.

Terrorism Insurance And Commerical Real Estate: The New Frontier, Alison R. Orlans

North Carolina Banking Institute

No abstract provided.

Discussion Draft Of The Proposed North Carolina Bar Association Illustrative Form Of Legal Opinion For Uniform Commercial Code Secured Lending Transactions, David L. Batty

North Carolina Banking Institute

No abstract provided.

North Carolina's Mortgage Lending Act: Licensing And Regulation Of Mortgage Bankers And Brokers, Caroline V. Barbee

North Carolina Banking Institute

No abstract provided.

The Beginning Of The End: The Demise Of Bank Partnerships With Payday Lenders, Tasha L. Winebarger

North Carolina Banking Institute

No abstract provided.

State Farm Insurance: The Unitary Thrift Holding Company Model For Integrated Financial Services, Ryan Melcher

North Carolina Banking Institute

No abstract provided.