This chapter surveys fiduciary principles in Western European civil law jurisdictions. Focusing on France and Germany, we suggest that functional equivalents to fiduciary duties have developed on the Continent, although they do not always carry exactly the same connotations as their common law...

Political economy concerns historical, legal and heterodox economics analysis of complex systems. This article attempts to analyze the current state of the European Union from historical, legal and interdisciplinary economics perspectives. Historically, the ancient Athenian democracy, the Holy...

Fiduciary duties are often today held out as typical instruments of shareholder protection in the common law of both the US and the UK, which are sometimes held out as examples for a consensus model for what is considered good corporate law conducive to good capital market development. However,...

This article explores how issuer liability reallocates fraud risk and how risk allocation may reduce the incidence of fraud. In the US, the apparent absence of individual liability of officeholders and insufficient monitoring by insurers undermines the potential deterrent effect of securities...

This is the Russian language version of the Report. The English version is available at lt;a href=quot;http://ssrn.com/abstract=1001990quot;gt;http://ssrn.com/abstract=1001990lt;/agt; This Report was prepared, with support by the World Bank, for the Russian Center for Capital Market Development...

In several European countries and in the US, doctrines of corporate or insolvency law allow courts to subordinate loans given by shareholders to companies under certain circumstances. An important example is the German equity substitution doctrine (Eigenkapitalersatzrecht), which covers...

Most comparative corporate governance scholarship is preoccupied with the protection of shareholders against illicit self-dealing by managers and controlling shareholders, and the problem of agency cost. Differences in the role of stakeholders such as employees are acknowledged in the...

Economic analysis plays a major role in the American legal discourse, while its position in the German-speaking legal debate remains comparatively limited. In Germany and Austria, a widespread aversion against law and economics can be observed among legal scholars. This article advances an...

This article proposes a new, functional explanation of the different roles of non-shareholder groups (particularly labor) in different corporate governance systems. The argument depends on the analysis of a factor that has so far received relatively little attention in corporate governance...

This article tries to grasp our contemporary Zeitgeist to serve as historic landmark how pandemics can influence the individual decision making, the social compound, national order, economic structures and the larger-scale international compound. The ongoing COVID-19 crisis accounts for one of...