Maximilian Möstl deals with the implementation of the transfer of shares of German limited liability companies abroad. This is an everyday problem, particularly in the context of cross-border transactions. The paper explicitly takes into account the changes introduced by the 2008 reform of...

Corporate Opportunity Waiver (COW) laws permit firms to suspend fiduciary duties related to corporate opportunities. Fich, Harford, and Tran (2023) argue that these laws reduced firm innovation and lowered corporate valuation for research-intensive firms. However, we find that over 90% of the...

In this paper, we examine the transplantation of British company law into the Cape Colony in the late nineteenth century. The Cape Colony Companies Act of 1892 was like its British counterpart in that it provided minimal investor protection. This meant that promoters were free to choose the...

Venture capital ("VC") has built a solid reputation for spurring innovation and economic growth, thus emerging as a crown jewel of the U.S. economy since the 1980s. The development of the U.S. VC market has benefited from the enabling nature of U.S. (Delaware) corporate law, which allows parties...

Policymakers around the globe have sought to stimulate Venture Capital (VC) investments, and an extensive literature has inquired into the institutional determinants of a vibrant VC market, including corporate law. We contribute to that literature by exploring the significance of corporate law...

Venture capital ("VC") has built a solid reputation for spurring innovation and economic growth, thus emerging as a crown jewel of the U.S. economy since the 1980s. The development of the U.S. VC market has benefited from the enabling nature of U.S. (Delaware) corporate law, which allows parties...