Oxford Business Law Blog

Dual class capital structures have spread exponentially in recent years across much of the corporate world, as has previously been reported on this blog. Dual class listed companies today account for...

Complex capital structures are prevalent in many recent high-profile Chapter 11 bankruptcy cases. One recent example is Toys ‘R’ Us, whose debt structure was, as characterized by Bloomberg...

How do creditor rights affect firms’ financial and investment decisions and what are the economic consequences of liquidation-oriented vs. continuation-friendly bankruptcy laws? The law and finance...

Innovation is perhaps the single most important driver of productivity and growth. However, firms do not innovate in isolation but rather within an ecosystem of their technological peers, as many...

It has long been argued that strengthening creditor rights facilitates firms’ access to credit financing, leading to larger credit markets and fostering economic growth (La Porta et al. 1997, 1998)...

In a seminal work, Modigliani and Miller pointed out that, in a world with no asymmetries of information, no transaction costs, no taxes and no costs of bankruptcy, the value of the firm is...

A bankruptcy system is believed necessary to solve a coordination problem among the creditors of a distressed firm. The firm may be economically distressed – it cannot make a go of it in the market...

The design of bankruptcy law may have a significant impact on people´s access to finance, the asset and capital structure of firms, and the level of innovation and entrepreneurship in a country. For...