A vast literature has examined the contractual technology that venture capital (VC) funds and entrepreneurs deploy in the U.S. to define an agency cost-minimising structure of their relationship, leading many to conclude that U.S. VC contracts are the best real-world solution to the challenges...

Delaware is widely regarded as the global capital of corporate law and the leader in attracting incorporations. Its dominance is often attributed by legal scholars to its expert judiciary and reliance on judicial decision-making to develop corporate norms. Until recently, the prevailing view has...

A vast literature has examined the contractual technology that venture capital (VC) funds and entrepreneurs deploy in the U.S. to define an agency cost-minimising structure of their relationship, leading many to conclude that U.S. VC contracts are the best real-world solution to the challenges...

Schließt eine Gesellschaft zur Absicherung des persönlichen Haftungsrisikos ihrer Unternehmensleiter eine D&O-Versicherung ab, so stellt sich in verschiedenem Kontext die Frage, inwieweit ihr das Wissen natürlicher Personen - insbesondere: versicherter Personen - zugerechnet werden kann. Der...

Venture capital ("VC") has built a solid reputation for spurring innovation and economic growth, thus emerging as a crown jewel of the U.S. economy since the 1980s. The development of the U.S. VC market has benefited from the enabling nature of U.S. (Delaware) corporate law, which allows parties...

Policymakers around the globe have sought to stimulate Venture Capital (VC) investments, and an extensive literature has inquired into the institutional determinants of a vibrant VC market, including corporate law. We contribute to that literature by exploring the significance of corporate law...

Private ordering enables investors to design firm-specific governance arrangements. Aided by specialized lawyers, sophisticated contracting parties can engage in complex private ordering exercises yielding agency cost-minimizing governance structures. Venture capital ('VC') contracting is a...

Venture capital ("VC") has built a solid reputation for spurring innovation and economic growth, thus emerging as a crown jewel of the U.S. economy since the 1980s. The development of the U.S. VC market has benefited from the enabling nature of U.S. (Delaware) corporate law, which allows parties...

Policymakers around the globe have sought to stimulate Venture Capital (VC) investments, and an extensive literature has inquired into the institutional determinants of a vibrant VC market, including corporate law. We contribute to that literature by exploring the significance of corporate law...

This study examines the growing concern of corporate delinquency in securities markets through an interdisciplinary approach, incorporating insights from sociological jurisprudence, criminology, and economic principles. Deploying a qualitative methodology, the research involves a comparative...

This note explores the interactions between new technologies with key areas of commercial law and potential legal changes to respond to new developments in technology and businesses. Inspired by the Bali Fintech Agenda, this note argues that country authorities need to closely examine the...

This study employs China's judicial reform as a quasi-natural experiment to examine how judicial improvements affect corporate value. The findings reveal that: (1) compared with companies that were not affected by judicial reform, the market value of companies affected by judicial reform...

This document is part of a series of Comparative Law studies that analyze the freedom to conduct a business in different legal orders around the world. After a brief historic introduction and a presentation of applicable legislation and case law, the content, limits and possible evolution of...

This document is part of a series of Comparative Law studies that analyze the freedom to conduct a business in different legal orders around the world. After a brief historic introduction and a presentation of applicable legislation and case law, the content, limits and possible evolution of...

This document is part of a series of Comparative Law studies that analyze the freedom to conduct a business in different legal orders around the world. After a brief historic introduction and a presentation of applicable legislation and case law, the content, limits and possible evolution of...

This document is part of a series of Comparative Law studies that analyze the freedom to conduct a business in different legal orders around the world. After a brief historic introduction and a presentation of applicable legislation and case law, the content, limits and possible evolution of...

„The Social Responsibility of Business is to Increase its Profits” titelt der US-amerikanische Ökonom Milton Friedman 1970. Der Zweck einer Kapitalgesellschaft erschöpft sich danach in der wohlfahrtsmaximierenden Interessenaggregation. Gesamtgesellschaftliche Ziele sind im...

This Article provides the first comprehensive examination of an emerging practice within the private equity sector-continuation funds. Continuation funds break from the traditional private equity model by allowing sponsors to hold on to assets beyond the typical fund term and, instead of selling...

Amid ongoing discussion over the merits and demerits of litigation, this study addresses the impact of litigation risk on corporate innovation at Chinese listed firms from 2014 to 2022. We exploit Two-Stage GMM, DID model, and PSM techniques to address endogeneity. We find that both litigation...

Initial public offerings and mergers and acquisitions represent important opportunities for investors to exit and harvest their entrepreneurial success. Some firms are acquired shortly after their initial public offerings. This exit strategy is known as a double exit. In addition, issuing firms...

Der Sammelband enthält die Schriftfassung der Vorträge zur Tagung »Elektronische Aktien«, die anlässlich des Gesetzgebungsverfahrens zum Zukunftsfinanzierungsgesetz am 15. Mai 2023 in der Hessischen Landesvertretung in Berlin stattfand.

After centuries of colonial subordination, Black and Brown ex-colonies are still fighting to achieve the fruits of decolonization. The traditional theory is that former colonies will emerge from the colonial period with the legal mandate and international recognition needed to chart their own...

How do the corporate laws of Global South jurisdictions differ from their Global North counterparts? Prevailing stereotypes depict the corporate laws of developing countries as either antiquated or plagued by problems of enforcement and misfit despite formal convergence. This Article offers a...

This paper assesses the emerging regulatory framework for special purpose acquisition companies (SPACs). According to this framework, mergers of SPACs, known as de-SPACs, must be “fair” to public (or unaffiliated) SPAC shareholders, and transaction participants face heightened liability risk...

This Article examines how corporate law treats legal entity boundaries in groups of companies. This is a critical question given that large corporations typically have hundreds of subsidiaries. Investigating the treatment of this question in key jurisdictions over time reveals an overlooked...

The right to expression of shareholders is a fundamental right of oversight counter balancing directors’ exercise of power. Companies are not simply economic institutions. They are also social institutions, organisations expressing values including expressions of political views. The views of...

The community interest company (CIC) is designed for private actors seeking to engage in pro-social entrepreneurship and investment for public benefit. Although there are a handful of studies that focus on the CIC, knowledge gaps remain in the legal literature. The aim of this article is to fill...

This article explores the European Parliament’s July 2018 non-legislative resolution proposing to the European Commission a directive for facilitating social enterprise companies’ cross-border activities. The proposal is first situated within the context of the social economy and how the...

This research introduces the Simplified Joint-Stock Company and reviews the jurisprudence dedicated to the same in comparative regulations. It also shows how legal entities worldwide operate in strategic official headquarters and the way to benefit from the such a world model. In addition, this...

In recent years, there has been a growing recognition of the significance of board gender diversity in corporate law and governance. This increased awareness can largely be attributed to the active engagement of social movements and advocacy groups, with the #MeToo movement playing a pivotal...

The number of public firms in the United States has halved since the beginning of the twenty-first century, causing consternation among corporate and securities law regulators. The dominant explanations, often advanced by Securities and Exchange commissioners when considering policy initiatives,...

This piece considers the codification of the directors' duty to consider the interests of creditors in Irish company law. Although it is well-established as one of the fiduciary duties of directors, the duty to have regard to the interests of creditors when the company is insolvent or is...

The fine balance between prevention of minority shareholder rights and the independent will of the majority shareholders to run the company they majorly hold is largely dependent on the securities enforcement agencies of the country. In India, The SEBI has engaged in minority protections at the...