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  • Brexit
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23 May 2019
12 min to read

Centros@20 Series: Conference Report—'Centros and European Company Law: Twenty Years of Living Dangerously'

Alvaro Pereira

March 2019 marked the twentieth anniversary of the landmark Centros case. It was the first of three judgments in which the (then) European Court of Justice (the Court) affirmed companies’ freedom of...
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  • Brexit
  • Commercial Law
  • Corporate Finance
  • Corporate Governance
  • Financial Regulation
22 May 2019
1 min to read

Introducing the Centros@20 Series

Horst Eidenmüller, St Hugh's College | Luca Enriques, Faculty of Law

This post introduces the ‘Centros@20 Series’, a special series of posts based on contributions to the ‘Centros and European Company Law: Twenty Years of Living Dangerously’ conference that took place...

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  • Commercial Law
  • Corporate Finance
  • Financial Regulation
21 May 2019
3 min to read

Accounting for Financial Stability: Lessons from the Financial Crisis and Future Challenges

Jannis Bischof | Christian Laux | Christian Leuz

The 2008 financial crisis set off a major debate about the role of accounting for financial stability. Politicians, policymakers and commentators were quick to point to fair-value or mark-to-market...

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  • Commercial Law
20 May 2019
4 min to read

International Commercial Courts and the United States: Past, Present and Future

S.I. Strong

Although international commercial arbitration has long been considered the preferred means of resolving cross-border business disputes, recent years have seen multiple initiatives seeking to disrupt...

OBLB categories

  • Corporate Finance
  • Corporate Governance
17 May 2019
5 min to read

Corporate Governance and Countervailing Power

Brian R Cheffins

The analysis of corporate governance has been a strikingly one-sided affair. The focus has been almost exclusively on ‘internal’ checks and balances, namely scrutiny of executives by the board of...

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  • Financial Regulation
16 May 2019
3 min to read

The Future of Data-Driven Finance and Regtech: Lessons from EU Big Bang II

Dirk A. Zetzsche | Douglas W. Arner | Ross P. Buckley | Rolf H. Weber

In our new working paper entitled ‘The Future of Data-Driven Finance and RegTech: Lessons from EU Big Bang II’ we argue that 2018 marked an important point in the evolution of finance: a Big Bang of...

OBLB categories

  • Commercial Law
15 May 2019
8 min to read

Summary of the AI in English Law Conference (18-19 March 2019)

Ewart Keep, Department of Education

The AI and English Law Launch Conference, hosted at the University of Oxford on the 18th-19th March, introduced themes, issues and questions on the potential and limitations of using artificial...

OBLB categories

  • Commercial Law
  • Financial Regulation
14 May 2019

Fintech: Intermediated Securities Holding Systems Revisited

Charles Mooney Jr | Thomas Keijser

Recent technological developments require a reconsideration of intermediated securities holding systems. This post presents two recent papers that examine aspects of this issue. Current intermediated...

OBLB categories

  • Commercial Law
  • Corporate Governance
13 May 2019

We Three Kings: Democratizing Voting at the Index Fund Giants

Caleb Griffin

Due to the rapid growth of passive indexing, three large fund families – Vanguard, BlackRock, and State Street – are now the de-facto arbiters of U.S. corporate law controversies. In 9 out of 10...

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  • Corporate Tax
09 May 2019

Who is Making International Tax Law?

Elliott Ash | Omri Marian

Whether a binding international legal tax regime exists is a persistent debate defining the academic field of international taxation. There is no formal ‘world tax organisation’, nor a comprehensive...

OBLB categories

  • Corporate Finance
  • Corporate Governance
  • M&A
07 May 2019

Rumors of the Death of US Public Companies Are Greatly Exaggerated

Brian R Cheffins

As of 2017, 172 of America’s 200 largest companies, ranked by revenue, were publicly traded. Public company dominance of the corporate economy of the United States has existed for decades. There has...

OBLB categories

  • Corporate Governance
06 May 2019

Corporate Interests and the Governance of Blockchains

Daniel Ferreira | Jin Li | Radoslawa Nikolowa

All blockchains have rules that govern their operations. As blockchains evolve they may need to change their rules. Blockchain governance refers to the system in place through which decisions...

OBLB categories

  • Commercial Law
02 May 2019

How Credible are Rules Requiring Sovereign States to Give Super-Priority to the Public Debt?

Mitu Gulati | Ugo Panizza | Mark Weidemaier | Gracie Willingham

Some years ago, when the US was about to hit its legally-prescribed debt ceiling and potentially default, a group of legislators had an idea. They proposed that if the government hit the debt limit,...
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OBLB categories

  • Competition/ Antitrust
01 May 2019

Enforcing European Competition Law in a Global Digital Economy

Ariel Ezrachi, Pembroke College | Agustin Reyna

The digital economy forms a central driver to future prosperity—delivering waves of innovation, efficiencies and consumer welfare. It has stimulated a shift in market dynamics, paving the way for the...

OBLB categories

  • Financial Regulation
30 Apr 2019

Why do Short Selling Bans Increase Adverse Selection in Financial Markets?

Peter N Dixon

Why do short selling bans increase adverse selection? Adverse selection occurs when one party to a transaction has more precise information about the value of an asset than does the other. It is...

OBLB categories

  • Commercial Law
26 Apr 2019

Opening Pandora’s Box with Caution: WTO Hands down Guidance on Art. XXI GATT

Serhii Lashyn

Art. XXI of the GATT establishes one of the exceptions to the rules of the multilateral trading system. Named a ‘security’ exception, this provision is most frequently invoked to justify trade...

OBLB categories

  • Commercial Law
  • Financial Regulation
25 Apr 2019

The (Unfulfilled) Fintech Potential

Aluma Zernik

Consumers’ financial choices are often quite complex. For instance, choosing a new credit card entails assessing various features of each card, such as introductory and ongoing interest rates, annual...

OBLB categories

  • Brexit
  • Commercial Law
  • Financial Regulation
24 Apr 2019

Brexit: What does Temporary Permissions Regime mean for EEA firms?

Mete Feridun

In March 2018, the UK and the EU reached an agreement on the terms of an implementation period following the UK’s withdrawal from the EU (Brexit). But in the case of a ‘no-deal Brexit’, ie, if there...

OBLB categories

  • Commercial Law
  • Financial Regulation
23 Apr 2019

Consumer Protection After the Global Financial Crisis

Edward Balleisen | Melissa B Jacoby

Much of the literature on the Global Financial Crisis understandably focuses on contributors to that crisis, such as rampant deception within the American mortgage markets, or the creation of complex...

OBLB categories

  • Corporate Governance
18 Apr 2019

Regulating Related Party Transactions in Continental Europe: Evidence from Germany

Andreas Engert | Tim Florstedt

Common law jurisdictions pride themselves on having a keen sense of fiduciary relationships and the perils of self-dealing. While the UK’s influence on EU law may recede in the long run, it has left...

OBLB categories

  • Corporate Governance
17 Apr 2019

Corporate Management in the Age of Artificial Intelligence

Martin Petrin

Law and technology-related research has arrived in the world of corporate law, as academics begin to tackle topics like artificial intelligence (AI), increasing automation and robots, Big Data, and...

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