Blog

Simply talking corporate America into being more responsible is not enough. It may get corporations to talk the talk, but not to walk the walk. To understand what is wrong with American capitalism...

Standard neoclassical models in finance posit that corporate decisions are made virtually in a vacuum and independently of an individual's social identities. But since Akerlof and Kranton's seminal...

The European Commission published its new Digital Finance Strategy on 24 September 2020. One of its centrepieces is the draft Regulation on Markets in Crypto-Assets (MiCA), designed to provide a...

Shareholder value maximization has been severely criticized in recent years, but it is not clear what, if anything, is to take its place. In a new working paper I review three models of corporate...

It is hard not to notice the increasing number of soft law instruments that have been published in recent years, at least in the field of restructuring and insolvency law. Of course, mere issuance...

The shock suspension by Chinese regulators of Ant Financial’s $37 billion initial public offering points to a tougher and more complex compliance environment for fintech firms going forward. As Ant...

In several common law systems, creditors of corporate debtors enjoy legal protections beyond what their contracts with those companies afford them in the form of vicinity-of-insolvency fiduciary...

Capital markets are a powerful instrument to allocate resources from investors to issuers—ie, firms and states. A well-functioning capital market is a key determinant of economic growth as well as of...

How, and when, did the law of American corporate fiduciary duties begin to develop differently? Kershaw shows that the Delaware variant of the business judgment rule emerged in the twentieth century...

The Joint Research Centre (JRC) and the European Commission’s (Commission’s) science and knowledge service published a report on common shareholding in Europe in September 2020 (the Report). The...

Ongoing attempts to infuse Artificial Intelligence (AI) into the practice of law are actively taking place by commercial vendors of LegalTech products and by legal scholars in academic research labs...

Corporate social responsibility (CSR) is typically assumed as a voluntary initiative rather than a legal mandate. Yet, over the past few decades, the world has witnessed the rise of explicit CSR...

Statement made by Prof. John C. Coffee, Jr. at the ECGI Policy Workshop on 'Directors’ Duties and Sustainable Corporate Governance' (11 November 2020). The European Commission retained Ernst &...

In our recent paper, we explore the potential impact of ESG-related information and of the increase in ESG-compliant investments on the prohibition on insider dealing and the obligation to publicly...

Corporate social responsibility (CSR) has increasingly become a mainstream business activity, ranging from voluntarily engaging in environmental protection to increasing workforce diversity and...

In 1958, Nobel Laureates Franco Modigliani and Merton Miller controversially claimed that, under certain assumptions, the value of a firm is independent of its capital structure. Their article was a...

New technologies such as the blockchain and artificial intelligence could have profound effects on corporations. Research shows, for instance, that blockchains could be employed to clear and register...