The roots of law & economics lie in late 19th century continental Europe. However, this early movement did not persist, having been cut off in the 1930s. After World War II, modern law & economics was (re-)invented in the United States and subsequently grew into a major field of research at U.S....

Abstract We set up a model to study how ownership structure, corporate law and employment law interact to set the incentives that influence the decision by a large shareholder or manager effectively controlling the firm whether to divert resources from minority shareholders and employees. We...

It is one of the well-known cornerstones of corporate governance that (minority) share-holders are subject to a risk of being expropriated by the controller of the firm, i.e. either entrenched management under a dispersed ownership structure or a controlling share-holder under concentrated...

The European framework for creditor protection has undergone a remarkable transformation in recent years. While the ECJ's Centros case and its progeny have introduced free choice with respect to the State of incorporation, and hence the substantive company law regime, the European Insolvency...

Entrepreneurship sometimes involves violations of legal norms, such as parking prohibitions, competition law, and others. According to the prevailing view in the legal literature, the agent or manager (and not the company) is required to bear the costs, even if the activity was beneficial ex...