Pichhadze (2010) introduced the Market Oriented Blockholder Model (MOBM) as properly describing the ownership pattern in the American equity markets. Under the model, the emerging blockholder in the American equity markets is the institutional investor (II). This poses a challenge to the...

In the neoclassical model of the firm, value surplus of the firm is assumed to accrue to its owners. Contract model suggests a distribution of the surplus among various agents depending on the imperfections of the markets in which they transact with the firm. If the share of the surplus to an...

This paper is about the widespread and systematic privatization of the public civil justice system. In particular, it: (1) documents the move to privatize civil disputes across all aspects of the justice system (including courts, administrative tribunals and state-sanctioned arbitration...

The discussion on the emergence of global administrative law is centered around the question: “Is it law?” and problems of accountability. This is a narrow perspective which ignores the autonomy of the administrative “internal law” generated by administrative agencies themselves. This is...

‘What is labour law for?’ is a question with a past. I therefore begin by sketching out its history. It has a present too, whose most striking feature – I argue – may well be the end of ‘labour.’ And of course it has a future: what will labour law look like ‘after labour?’ I...

Humans have become the Earth’s dominant animals, yet we remain perched on the precipice of an anthropogenic collapse in planetary ecological systems. For lawyers, this raises a question: why hasn’t environmental law succeeded? The law’s limitations in this area cannot satisfactorily be...

A theoretical framework is presented that connects change in the organization of labor with change in corporate governance and financial system development. Building on work by Rueda (2005, 2006, 2007), the paper considers labor change in terms of reduced "insiderness" and examines how this...

Financial internationalization and European regulatory harmonization put the German corporate governance regime under pressure to move towards a market-oriented, Anglo-Saxon model. While International Political Economy approaches expect Anglo-Saxon standards to spread across national borders,...

For two reasons, the conventional wisdom is that the poor are not heavy users of the insolvency system. First, creditors are reluctant to extend credit to the poor because the risks of non-payment are high. Not having been able to borrow, the poor are not over-indebted and are therefore not in...