Advanced systems of domestic corporate law generally apply a “no reflective loss” principle to shareholder claims. Shareholder claims are permitted for direct injury to shareholder rights (such as voting rights). But shareholders generally cannot bring claims for reflective loss incurred as...

International investment agreements (IIAs) almost universally define their temporal validity and thus set conditions for States’ exit from these treaties.<P> This study presents the results of the survey of language that determines the temporal validity of 2,061 bilateral investment agreements...</p>

In this essay we review the empirical literature about sovereign debt and default. As we survey the work of economists, historians, and political scientists, we also emphasize parallel developments by theorists and recommend steps to improve the correspondence between theory and data

The long history of sovereign debt and the associated enforcement problem have attracted researchers in many fields. In this paper, we survey empirical work by economists, historians, and political scientists. As we review the empirical literature, we emphasize parallel developments in the...

The long history of sovereign debt and the associated enforcement problem have attracted researchers in many fields. In this paper, we survey empirical work by economists, historians, and political scientists. As we review the empirical literature, we emphasize parallel developments in the...

We propose a private-government principals-principals (PP) approach to understand corporate governance of state-owned multinationals. We explain how the conflicts between large government and private blockholders may affect managerial decisions in the propensity of completing a cross-border...

Many BITs contain the so-called MFN clause, under which a host State may not treat the relevant investment less favorably than the investment of an investor from any other country. Much confusion, however, has arisen on the question of whether an investor may rely on an MFN clause to invoke the...