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Shareholder Litigation and Corporate Governance

Arad Reisberg

in Derivative Actions and Corporate Governance

Published in print:
2007
Published Online:
January 2009
ISBN:
9780199204892
eISBN:
9780191709487
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199204892.003.0002
Subject:
Law, Company and Commercial Law

This chapter is concerned with an indefinite but fundamental: what purpose lies at the heart of the company's cause of action which justifies the use of derivative actions? Section 1.2 firstly ... More


Explaining Western Securities Markets

Mark J. Roe

in Corporate Governance and Firm Organization: Microfoundations and Structural Forms

Published in print:
2004
Published Online:
September 2007
ISBN:
9780199269761
eISBN:
9780191710087
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199269761.003.0013
Subject:
Business and Management, Corporate Governance and Accountability

This chapter questions the power of law in solving CG problems and maintains that there are societal and political forces that are likely to shape governance structures irrespective of any ... More


The Quality of Corporate Law and its Limits

Mark J. Joe

in Political Determinants of Corporate Governance: Political Context, Corporate Impact

Published in print:
2006
Published Online:
October 2011
ISBN:
9780199205301
eISBN:
9780191695612
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199205301.003.0027
Subject:
Business and Management, Corporate Governance and Accountability, Business History

This chapter demonstrates why the data indicates that the quality-of-corporate-law argument, although it explains transition economies nicely, is over-stated for several of the world's richest ... More


Agency Costs and the Nexus of Contracts

M. W. Lau

in The Economic Structure of Trusts: Towards a Property-based Approach

Published in print:
2011
Published Online:
May 2011
ISBN:
9780199602407
eISBN:
9780191725203
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199602407.003.0003
Subject:
Law, Trusts

This chapter examines Robert Sitkoff's agency costs theory of trust law, which is derived from Michael Jensen and William Meckling's theory of the firm. Sitkoff's account of trusts consists of two ... More


Its Limits: Theory

Mark J. Joe

in Political Determinants of Corporate Governance: Political Context, Corporate Impact

Published in print:
2006
Published Online:
October 2011
ISBN:
9780199205301
eISBN:
9780191695612
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199205301.003.0025
Subject:
Business and Management, Corporate Governance and Accountability, Business History

This chapter explores the limits of the theory of corporate law. It holds that the quality-of-corporate-law theory needs to be refined or replaced. Ownership cannot readily separate from control if ... More


Rents

Mark J. Joe

in Political Determinants of Corporate Governance: Political Context, Corporate Impact

Published in print:
2006
Published Online:
October 2011
ISBN:
9780199205301
eISBN:
9780191695612
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199205301.003.0019
Subject:
Business and Management, Corporate Governance and Accountability, Business History

Weaker product markets and the concomitant monopoly rents can affect corporate governance. They do so by loosening a constraint on managers, thereby increasing managerial agency costs to ... More


Social Democracies and Agency Costs: Raising the Stakes

Mark J. Joe

in Political Determinants of Corporate Governance: Political Context, Corporate Impact

Published in print:
2006
Published Online:
October 2011
ISBN:
9780199205301
eISBN:
9780191695612
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199205301.003.0005
Subject:
Business and Management, Corporate Governance and Accountability, Business History

This chapter discusses social democracies and agency costs. Social democracies raised agency costs for shareholders in the public firm and the shareholders' natural reaction would have been to use an ... More


Capital Structure and Financing Decisions

H. Kent Baker, J. Clay Singleton, and E. Theodore Veit

in Survey Research in Corporate Finance: Bridging the Gap between Theory and Practice

Published in print:
2010
Published Online:
May 2011
ISBN:
9780195340372
eISBN:
9780199894215
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195340372.003.0005
Subject:
Economics and Finance, Financial Economics

This chapter reviews the findings of academic surveys of corporate executives indicating how firms make capital structure and financing decisions. The chapter compares the survey findings to the ... More


The Wrongful Trading Provisions

RIZWAAN JAMEEL MOKAL

in Corporate Insolvency Law: Theory and Application

Published in print:
2005
Published Online:
January 2010
ISBN:
9780199264872
eISBN:
9780191718397
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199264872.003.0008
Subject:
Law, Company and Commercial Law

This chapter considers the impact of insolvency on the obligations of the debtor's managers by examining the wrongful trading provisions in section 214 of the Insolvency Act 1986. It employs the ... More


Conclusion: Themes and Prospects

E. Philip Davis

in Debt, Financial Fragility, and Systemic Risk

Published in print:
1995
Published Online:
November 2003
ISBN:
9780198233312
eISBN:
9780191596124
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198233310.003.0012
Subject:
Economics and Finance, Financial Economics

We seek in the conclusion to draw together the analysis of the book under four main headings, issues of finance (including equity finance, agency costs, and monetary policy issues), regulatory issues ... More


Rents and Politics

Mark J. Joe

in Political Determinants of Corporate Governance: Political Context, Corporate Impact

Published in print:
2006
Published Online:
October 2011
ISBN:
9780199205301
eISBN:
9780191695612
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199205301.003.0020
Subject:
Business and Management, Corporate Governance and Accountability, Business History

If a nation has many firms capturing monopoly rents, two major corporate governance consequences are expected. First, potential managerial agency costs to shareholders will be higher than elsewhere, ... More


Corporate Ownership and Control: British Business Transformed

Brian R. Cheffins

Published in print:
2008
Published Online:
January 2009
ISBN:
9780199236978
eISBN:
9780191717260
Item type:
book
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199236978.001.0001
Subject:
Law, Company and Commercial Law

The typical British publicly traded company has widely dispersed share ownership and is run by professionally trained managers who collectively own an insufficiently large percentage of shares to ... More


Financial Advice: Does It Make a Difference?

Michael Finke

in The Market for Retirement Financial Advice

Published in print:
2013
Published Online:
January 2014
ISBN:
9780199683772
eISBN:
9780191763359
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199683772.003.0011
Subject:
Business and Management, Pensions and Pension Management

The financial advice profession provides a potentially valuable service to consumers within an increasingly complex financial marketplace. Financial advice professionals can substitute for costly ... More


Epilogue: Challenges to the UK System of Ownership and Control

Brian R. Cheffins

in Corporate Ownership and Control: British Business Transformed

Published in print:
2008
Published Online:
January 2009
ISBN:
9780199236978
eISBN:
9780191717260
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199236978.003.0011
Subject:
Law, Company and Commercial Law

After 1990, activism by traditionally dominant institutional shareholders increased and ‘offensive’ shareholder activism (primarily by hedge funds) and ‘public-to-private’ buyouts carried out by ... More


Bracketed Flexibility: Standards of Performance Level the Playing Field

CLAIRE MOORE DICKERSON

in The Governance of Close Corporations and Partnerships: US and European Perspectives

Published in print:
2004
Published Online:
January 2010
ISBN:
9780199264353
eISBN:
9780191718496
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199264353.003.0005
Subject:
Law, Comparative Law, Company and Commercial Law

This chapter explores the role of fiduciary duties in limiting opportunism in closely held businesses. In a closely held firm, high standards of performance are believed to be necessary to constrain ... More


Setting the Scene

Brian R. Cheffins

in Corporate Ownership and Control: British Business Transformed

Published in print:
2008
Published Online:
January 2009
ISBN:
9780199236978
eISBN:
9780191717260
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199236978.003.0001
Subject:
Law, Company and Commercial Law

This chapter puts the historical analysis offered by the book into contemporary context. The reader will find out the UK differs from most other industrialized countries in that ownership (in the ... More


The Determinants of Ownership and Control: Current Theories

Brian R. Cheffins

in Corporate Ownership and Control: British Business Transformed

Published in print:
2008
Published Online:
January 2009
ISBN:
9780199236978
eISBN:
9780191717260
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199236978.003.0002
Subject:
Law, Company and Commercial Law

This chapter outlines the leading theories that have been advanced in the comparative corporate governance literature to account for why patterns of ownership and control differ across borders and ... More


The Puzzle of Entity-Level D&O Coverage

in Ensuring Corporate Misconduct: How Liability Insurance Undermines Shareholder Litigation

Published in print:
2011
Published Online:
March 2013
ISBN:
9780226035154
eISBN:
9780226035079
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226035079.003.0005
Subject:
Law, Company and Commercial Law

This chapter investigates why firms purchase Directors' and Officers' liability (D&O) insurance for corporate identity even though the entity-level coverage appears to be a negative net present-value ... More


Constantine and Rome’s Acceptance of Christianity

Robert B. Ekelund Jr. and Robert D. Tollison

in Economic Origins of Roman Christianity

Published in print:
2011
Published Online:
September 2013
ISBN:
9780226200026
eISBN:
9780226200040
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226200040.003.0005
Subject:
Economics and Finance, Economic History

This chapter offers an economic theory illustrated with historical discussion underlying the adoption of Christianity by the late Roman Empire. It suggests that efficiency considerations (which ... More


Theory

Onnig H. Dombalagian

in Chasing the Tape: Information Law and Policy in Capital Markets

Published in print:
2015
Published Online:
September 2015
ISBN:
9780262028622
eISBN:
9780262324298
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262028622.003.0002
Subject:
Economics and Finance, Financial Economics

This chapter considers the theoretical aims of information regulation and the arguments for and against regulatory intervention in the information production chain. It relates the conceptual ... More


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