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Articles 31 - 60 of 77

Full-Text Articles in Law

What Do We Mean By "Judicial Independence"?, Stephen B. Burbank Jan 2003

What Do We Mean By "Judicial Independence"?, Stephen B. Burbank

Faculty Scholarship at Penn Law

In this article, the author argues that the concept of "judicial independence" has served more as an object of rhetoric than it has of sustained study. He views the scholarly literatures that treat it as ships passing in the night, each subject to weaknesses that reflect the needs and fashions of the discipline, but all tending to ignore courts other than the Supreme Court of the United States. Seeking both greater rigor and greater flexibility than one usually finds in public policy debates about, and in the legal and political science literatures on, judicial independence, the author attributes much of ...


Enron, Sarbanes-Oxley And Accounting: Rules Versus Principles Versus Rents, William W. Bratton Jan 2003

Enron, Sarbanes-Oxley And Accounting: Rules Versus Principles Versus Rents, William W. Bratton

Faculty Scholarship at Penn Law

No abstract provided.


Simplifying The Transition To A (Progressive) Consumption Tax, Mitchell L. Engler, Michael S. Knoll Jan 2003

Simplifying The Transition To A (Progressive) Consumption Tax, Mitchell L. Engler, Michael S. Knoll

Faculty Scholarship at Penn Law

No abstract provided.


Avoiding Moral Bankruptcy, David A. Skeel Jr. Jan 2003

Avoiding Moral Bankruptcy, David A. Skeel Jr.

Faculty Scholarship at Penn Law

No abstract provided.


Corporate Policy And The Coherence Of Delaware Takeover Law, Richard E. Kihlstrom, Michael L. Wachter Jan 2003

Corporate Policy And The Coherence Of Delaware Takeover Law, Richard E. Kihlstrom, Michael L. Wachter

Faculty Scholarship at Penn Law

This Article presents a model that can be used to explain key elements of Delaware takeover law. By incorporating corporate policy as a key variable in the model, Delaware law’s management discretion rule can be shown to be best suited for maximizing the value of the corporation and the shareholders’ interest under a set of reasonable assumptions. By allowing for occasional market mispricing and the agency costs associated with managing to the market, we demonstrate that a shareholder choice regime would likely lead to suboptimal investment decisions. In our model, managers are assumed to have better information regarding alternative ...


Final Report Of The Illinois Criminal Code Rewrite And Reform Commission, Paul H. Robinson, Michael T. Cahill Jan 2003

Final Report Of The Illinois Criminal Code Rewrite And Reform Commission, Paul H. Robinson, Michael T. Cahill

Faculty Scholarship at Penn Law

The Governor of Illinois created a commission to examine the problems with Illinois criminal law and to rewrite the Illinois criminal code. This two-volume Final Report of the Illinois Criminal Code Rewrite and Reform Commission proposes a new criminal code, in volume 1, together with an official commentary, in volume 2, that explains each provision and how and why it differs from existing law. The introduction to the Report summarizes the reasons for and the importance of criminal code reform, and describes the techniques used in this rewrite project, including both the project’s drafting principles and the methods by ...


The Securities Analyst As Agent: Rethinking The Regulation Of Analysts, Jill E. Fisch, Hillary A. Sale Jan 2003

The Securities Analyst As Agent: Rethinking The Regulation Of Analysts, Jill E. Fisch, Hillary A. Sale

Faculty Scholarship at Penn Law

No abstract provided.


Anticompetitive Settlement Of Intellectual Property Disputes, Herbert J. Hovenkamp, Mark D. Janis, Mark A. Lemley Jan 2003

Anticompetitive Settlement Of Intellectual Property Disputes, Herbert J. Hovenkamp, Mark D. Janis, Mark A. Lemley

Faculty Scholarship at Penn Law

The overwhelming majority of intellectual property lawsuits settle before trial. These settlements involve agreements between the patentee and the accused infringer, parties who are often competitors before the lawsuit. Because these competitors may agree to stop competing, to regulate the price each charges, and to exchange information about products and prices, settlements of intellectual property disputes naturally raise antitrust concerns. In this paper, we suggest a way to reconcile the interests of intellectual property law and antitrust law in evaluating intellectual property settlements. In Part I, we provide background on the issue. Part II argues that in most cases courts ...


Bringing Moral Values Into A Flawed Plea Bargaining System, Stephanos Bibas Jan 2003

Bringing Moral Values Into A Flawed Plea Bargaining System, Stephanos Bibas

Faculty Scholarship at Penn Law

No abstract provided.


Defeating Class Certification In Securities Fraud Actions, Kermit Roosevelt Iii Jan 2003

Defeating Class Certification In Securities Fraud Actions, Kermit Roosevelt Iii

Faculty Scholarship at Penn Law

No abstract provided.


The Qualified Legal Compliance Committee: Using The Attorney Conduct Rules To Restructure The Board Of Directors, Jill E. Fisch, Caroline M. Gentile Jan 2003

The Qualified Legal Compliance Committee: Using The Attorney Conduct Rules To Restructure The Board Of Directors, Jill E. Fisch, Caroline M. Gentile

Faculty Scholarship at Penn Law

The Securities and Exchange Commission introduced a new corporate governance structure, the qualified legal compliance committee, as part of the professional standards of conduct for attorneys mandated by the Sarbanes-Oxley Act of 2002. QLCCs are consistent with the Commission’s general approach to improving corporate governance through specialized committees of independent directors. This Article suggests, however, that assessing the benefits and costs of creating QLCCs may be more complex than is initially apparent. Importantly, QLCCs are unlikely to be effective in the absence of incentives for active director monitoring. This Article concludes by considering three ways of increasing these incentives.


Light From Dead Stars: The Procedural Adequate And Independent State Ground Reconsidered, Kermit Roosevelt Iii Jan 2003

Light From Dead Stars: The Procedural Adequate And Independent State Ground Reconsidered, Kermit Roosevelt Iii

Faculty Scholarship at Penn Law

No abstract provided.


Shareholder Value And Auditor Independence, William W. Bratton Jan 2003

Shareholder Value And Auditor Independence, William W. Bratton

Faculty Scholarship at Penn Law

This Article questions the practice of framing problems concerning auditors’ professional responsibility inside a principal-agent paradigm. If professional independence is to be achieved, auditors cannot be enmeshed in agency relationships with the shareholders of their audit clients. As agents, the auditors by definition become subject to the principal’s control and cannot act independently. For the same reason, auditors’ duties should be neither articulated in the framework of corporate law fiduciary duty, nor conceived relationally at all. These assertions follow from an inquiry into the operative notion of the shareholder-beneficiary. The Article unpacks the notion of the shareholder and tells ...


How Bad Law Made A Hard Case Easy: Nevada V. Hicks And The Subject Matter Jurisdiction Of Tribal Courts, Catherine T. Struve Jan 2003

How Bad Law Made A Hard Case Easy: Nevada V. Hicks And The Subject Matter Jurisdiction Of Tribal Courts, Catherine T. Struve

Faculty Scholarship at Penn Law

No abstract provided.


Access To Networks: Economic And Constitutional Connections, Daniel F. Spulber, Christopher S. Yoo Jan 2003

Access To Networks: Economic And Constitutional Connections, Daniel F. Spulber, Christopher S. Yoo

Faculty Scholarship at Penn Law

No abstract provided.


Apprendi In The States: The Virtues Of Federalism As A Structural Limit On Errors, Stephanos Bibas Jan 2003

Apprendi In The States: The Virtues Of Federalism As A Structural Limit On Errors, Stephanos Bibas

Faculty Scholarship at Penn Law

No abstract provided.


Exhaustion Under The Prison Litigation Reform Act: The Consequence Of Procedural Error, Kermit Roosevelt Iii Jan 2003

Exhaustion Under The Prison Litigation Reform Act: The Consequence Of Procedural Error, Kermit Roosevelt Iii

Faculty Scholarship at Penn Law

No abstract provided.


Inevitable Mens Rea, Stephen J. Morse Jan 2003

Inevitable Mens Rea, Stephen J. Morse

Faculty Scholarship at Penn Law

No abstract provided.


Privacy Isn't Everything: Accountability As A Personal And Social Good, Anita L. Allen Jan 2003

Privacy Isn't Everything: Accountability As A Personal And Social Good, Anita L. Allen

Faculty Scholarship at Penn Law

No abstract provided.


Preferences And Rational Choice: Introduction, Claire Oakes Finkelstein, Matthew D. Adler, Peter H. Huang Jan 2003

Preferences And Rational Choice: Introduction, Claire Oakes Finkelstein, Matthew D. Adler, Peter H. Huang

Faculty Scholarship at Penn Law

No abstract provided.


Rethinking The Commitment To Free, Local Television, Christopher S. Yoo Jan 2003

Rethinking The Commitment To Free, Local Television, Christopher S. Yoo

Faculty Scholarship at Penn Law

No abstract provided.


Converted Or Unconverted: To Whom Do We Preach?, Amy L. Wax Jan 2003

Converted Or Unconverted: To Whom Do We Preach?, Amy L. Wax

Faculty Scholarship at Penn Law

No abstract provided.


The Right To Remain Silent Helps Only The Guilty, Stephanos Bibas Jan 2003

The Right To Remain Silent Helps Only The Guilty, Stephanos Bibas

Faculty Scholarship at Penn Law

No abstract provided.


Is There A Role For Lawyers In Preventing Future Enrons?, Jill E. Fisch, Kenneth M. Rosen Jan 2003

Is There A Role For Lawyers In Preventing Future Enrons?, Jill E. Fisch, Kenneth M. Rosen

Faculty Scholarship at Penn Law

Following the collapse of the Enron Corporation, the ethical obligations of corporate attorneys have received increased scrutiny. The Sarbanes-Oxley Act of 2002, enacted in response to calls for corporate reform, specifically requires the Securities and Exchange Commission to address the lawyer’s role by requiring covered attorneys to “report up” evidence of corporate wrongdoing to key corporate officers, and, in some circumstances, to the board of directors. Failure to “report up” subjects a lawyer to liability under federal law.

This Article argues that the reporting up requirement reflects a second-best approach to corporate governance reform. Rather than focusing on the ...


Civil Rights Litigation: The Current Paradox, David Rudovsky Jan 2003

Civil Rights Litigation: The Current Paradox, David Rudovsky

Faculty Scholarship at Penn Law

No abstract provided.


Takeover Defense When Financial Markets Are (Only) Relatively Efficient, Michael L. Wachter Jan 2003

Takeover Defense When Financial Markets Are (Only) Relatively Efficient, Michael L. Wachter

Faculty Scholarship at Penn Law

This paper evaluates the impact of developments in the understanding of asset value pricing for alternative legal standards for takeover defenses: the management discretion and the shareholder rights positions. Both sides place considerable, albeit implicit, reliance on alternative views of the efficiency of financial markets. Developments in finance theory show that when financial markets are only "relatively efficient," stock prices can incorrectly value the corporation at any point in time, at the same time as investors cannot outperform the market on an ongoing basis. I focus on financial market anomalies arising from the failure of the capital asset pricing model ...


Harmonizing Substantive-Criminal Law-Values And Criminal Procedure: The Case Of Alford And Nolo Contendere Pleas, Stephanos Bibas Jan 2003

Harmonizing Substantive-Criminal Law-Values And Criminal Procedure: The Case Of Alford And Nolo Contendere Pleas, Stephanos Bibas

Faculty Scholarship at Penn Law

No abstract provided.


Regionalization Of International Criminal Law Enforcement: A Preliminary Exploration, William W. Burke-White Jan 2003

Regionalization Of International Criminal Law Enforcement: A Preliminary Exploration, William W. Burke-White

Faculty Scholarship at Penn Law

No abstract provided.


Of Property And Anti-Property, Abraham Bell, Gideon Parchomovsky Jan 2003

Of Property And Anti-Property, Abraham Bell, Gideon Parchomovsky

Faculty Scholarship at Penn Law

No abstract provided.


The A.L.I.'S Proposed Distributive Principle Of 'Limiting Retributivism': Does It Mean In Practice Anything Other Than Pure Desert?, Paul H. Robinson Jan 2003

The A.L.I.'S Proposed Distributive Principle Of 'Limiting Retributivism': Does It Mean In Practice Anything Other Than Pure Desert?, Paul H. Robinson

Faculty Scholarship at Penn Law

Robinson supports the proposed "purposes" text of the New American Law Institute Report on Sentencing Reform but argues that in practice it will not mean what traditional utilitarians, like those supporting "limiting retributivism," are expecting. First, the proposed text allows reliance upon non-desert distributive principles only to the extent that they serve their stated goals. As the ALI Report concedes, there are limits to the effectiveness one can expect from rehabilitation and, as is now becoming apparent from social science research, our realistic expectations for the effectiveness of deterrence are similarly fading. It is true that incapacitation undoubtedly works to ...