Voluntary standards certifying environmental qualities of labeled products have proliferated across sectors and countries. Effectuating these standards requires the collaboration among and between creators (typically firms and non-governmental organizations) and adopters (firms across a...

Voluntary environmental management programs for firms have become an increasingly popular instrument of environmental policy. However, the literature's conclusion on the effectiveness of suchprograms is ambiguous, and for the European region there is a lack of evidence based on a large control...

Several provisions of the TCJA of 2017 affect Code Sec. 1031. The final regulations under Code Sec. 199A and the proposed bonus deprecation regulations provide guidance regarding the interaction of those provisions and Code Sec. 1031. This article explores those interactions, explaining how the...

The centrality of private information in the design of accounting institutions has been explored via agency models that address control concerns as well as disclosure models that amplify valuation issues. Somewhat surprisingly, the joint analysis of control and valuation considerations, and...

This Article explores the problem of systematization that new technologies, in particular blockchain-related technologies, entail. From a commercial law perspective, it discusses whether the rules provided in the commercial context for the conclusion of contracts between two “human” parties...

Voluntary environmental management programs for firms have become an increasingly popular instrument of environmental policy. However, the literature’s conclusion on the effectiveness of such programs is ambiguous, and for the European region there is a lack of evidence based on a large...

Voluntary environmental management programs for firms have become an increasingly popular instrument of environmental policy. However, the literature's conclusion on the effectiveness of such programs is ambiguous, and for the European region there is a lack of evidence based on a large control...

his paper studies the effect of self-regulation on the leniency of cinema age restrictions using cross-country variation in the classifications applied to 1,922 movies released in 31 countries between 2002 and 2011. Our data show that restrictive classifications reduce box office revenues,...

Companies are adopting executive compensation recoupment ("clawback") policies to discourage aggressive financial reporting choices. Recent research suggests clawback policies might encourage other, less aggressive, means of meeting earnings expectations. We suggest that reducing income tax...

In our model, self-interested agents prefer to buy from local neighbors rather than from cheaper outside vendors even in the absence of memory and coordination mechanisms. All they know is who is a local neighbor. Buyers voluntarily pay rents because they internalize that their neighbors will be...