1. Corporate governance : theory and evidence -- 2. Private benefits of control -- 3. The law and economics of control powers : a theoretical framework -- 4. Legal distribution of corporate powers -- 5. How to cope with self-dealing -- 6. Regulation of related-party transactions : a comparative...

The standard approach to the legal foundations of corporate governance is that corporate law promotes separation of ownership and control by protecting minority shareholders from expropriation. This paper takes a broader perspective on the economic and legal determinants of corporate governance....

This paper argues that a mitigated strict liability regime can incentivize Credit Rating Agencies (CRAs) to produce ratings as accurate as the available forecasting technology allows. A damage cap based on objective factors is introduced in order to avoid crushing liability. Moreover, CRAs are...

This article presents a dynamic approach to liquidity based on uncertainty as conceptualized by Knight, developed in a theory of long-term expectations by Keynes, and applied to banking by Minsky. This perspective reveals that banks perform maturity transformation and create monetary liabilities...

This article analyzes the determinants of liquidity crises based on the dynamics of banking and finance under Knightian uncertainty. In this perspective, the facts of the global financial crisis seem to confirm Minsky's hypothesis of endogenous financial instability derived from Keynes's theory...