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Creditor Rights, Threat of Liquidation, and the Labour-Capital Choice of Firms

The legal protection provided to creditors to enforce their contracts with debtors is central to the functioning of credit markets. These include the rights afforded to lenders in bankruptcy, collateral...

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Understanding China's Modern Corporations and Corporate Groups Through Their 19th Century Precursors

The article ‘China’s “Corporatization Without Privatization” and the Late 19th Century Roots of a Stubborn Path Dependency’ analyzes the contemporary program of ‘corporatization without privatization’ in the People’s...

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Nicholas Calcina Howson

Lord Eldon Redux: Information Asymmetry, Accountability and Fiduciary Loyalty

Judicial and scholarly discourse about fiduciaries’ duty of loyalty has emphasized the ‘no conflict’ and ‘no profit’ rules as a vehicle for coping with opportunistic behaviour much more than disclosure...

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Corporations Are Not Firms

Deconstructing BainbridgeCorporations and firms are not the same in any technical use of the terms. Corporations are separate patrimonies whose ultimate owners are the members of the corporation. A legal...

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Jesús Alfaro Águila-Real

US Depends on Immigrant Entrepreneurs

Immigration has perhaps always been a controversial political issue. Proponents talk about attracting ‘the best and the brightest’, while others worry that immigrants are mostly attracted by welfare benefits or...

8 September 2016

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Sari Pekkala Kerr

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