comparative_law   11

Edward B. Rock - Institutional Investors in Corporate Governance (Jan 2015) :: SSRN - Oxford Handbook on Corporate Law and Governance, 2015, Forthcoming
Penn Law School -- chapter examines the role of institutional investors in corporate governance and the role of regulation in encouraging institutional investors to become active stewards. (..) what lessons we can draw from the US experience for the EU’s 2014 proposed amendments to the Shareholder Rights Directive.(...) survey how institutional investors themselves are governed and how they organize share voting. (...) 2 central questions: (a) why, over the last 25 years, have institutional investors not fulfilled the optimists’ hopes?; and (b) can the core incentive problems that subvert Institutional Investor activism be cured by regulation? The US experience [substantial deregulation led to only modest increases in shareholder activism], suggests (..) institutional investors’ relative passivity is a fundamental lack of incentives. I examine the disappointing results of the SEC’s long experiment with incentivizing mutual funds to vote their shares (...) the EU efforts are likely to be similarly disappointing. I then examine the important role that hedge funds now play in catalyzing institutional shareholders, and consider some of the risks in relying on such highly incentivized actors. -- PDF File: 26 -- saved to briefcase
chapter  books  SSRN  law-and-economics  behavioral_economics  financial_economics  financial_regulation  corporate_governance  corporate_law  corporate_finance  capital_markets  corporate_control_markets  institutional_investors  shareholders  shareholder_voting  mutual_funds  incentives  activist_investors  investors  hedge_funds  proxies  comparative_law  administrative_law  EU-law  regulation-harmonization  regulation-enforcement  fiduciaries  profit_maximization  EU-regulation 
july 2015 by dunnettreader
Jeremy Waldron - Ius Gentium: A Defense of Gentili's Equation of the Law of Nations and the Law of Nature :: SSRN November 2008
NYU School of Law, Public Law Research Paper No. 08-34 -- The relation between the law of nature and the law of nations (ius gnetium) remains unclear. This paper examines Gentili's apparent equation of the two, and it considers more generally how abstract natural law reasoning might be improved by the sort of empirical/comparative law reasoning (as we would call it) that thinkers like Gentili, Grotius and others engaged in when they tried to determine what natural law teaches us about the regulation of war. -- Pages in PDF File: 17 -- Keywords: Gentili, ius gentium, law of nations, laws of war, moral reasoning, natural law, positive law -- downloaded pdf to Note
paper  SSRN  philosophy_of_law  jurisprudence  legal_theory  analytical_philosophy  Roman_law  natural_law  international_law  positivism-legal  positive_law  moral_philosophy  comparative_law  17thC  18thC  Europe-Early_Modern  Grotius  gentility  law_of_the_sea  law_of_nations  ius_gentium  downloaded 
june 2015 by dunnettreader
Brian Z. Tamanaha - What is Law? :: SSRN - Jan 2015
Brian Z. Tamanaha -- Washington University in St. Louis Legal Studies Research Paper No. 15-01-01 -- Theorists who tackle “What is law?” usually acknowledge the difficulty of the question, then, with hardly a pause, launch into their proposed answer. Instead, focusing on three main categories of concepts of law, I examine in detail why previous attempts have failed to achieve a consensus. Several factors have contributed. One source of disagreement involves clashes among intuitions about law. Further problems are created by the narrowness of functional analysis, on which nearly all concepts of law are based. Confusion also arises because law shares basic characteristics with many social institutions, as I show drawing on insights from the philosophy of society. Theorists also typically fail to recognize two distinct orientations of law, and multiple forms of law, which singular concepts of law cannot accommodate. Finally, variability and change owing to the social-historical nature of law defeats efforts of legal philosophers to identify essential features and universally true concepts of law. At the conclusion I present a way of understanding law that emerges out of the lessons learned from past unsuccessful efforts. -- topic headings in the essay: Three Categories of the Concept of Law; Pivotal Role of Intuitions About Law; Over-Inclusiveness of Functionalism; Under-Inclusiveness of Functionalism; Why Functionalism Cannot Answer ‘What is Law?’; Error of Conflating ‘Rule System’ and ‘Legal System’; Law as Part of the Institutional Substrate of Society; State Law’s Two Orientations; Coexisting Multiple Legal Forms; Necessary and Essential Features Or Typical Features; Universal Application Versus Universal Truth; What is Law -- No. Pages: 49 -- Keywords: jurisprudence, philosophy of law, law and society, legal anthropology, legal sociology, legal history, and comparative law -- downloaded pdf to Note
paper  SSRN  philosophy_of_law  jurisprudence  legal_history  legal_theory  legal_culture  legal_realism  legal_reasoning  legal_validity  functionalism  institutions  institutional_change  social_order  universalism  normativity  norms  custom  customary_law  sociology_of_law  comparative_law  concepts  concepts-change  rule_of_law  downloaded  EF-add 
january 2015 by dunnettreader
Commission ISDS reform plan is an echo chamber of business views | Corporate Europe Observatory
In the face of fierce opposition to its plan to enshrine far-reaching rights for foreign investors in the EU-US trade deal, the Commission is trying to appease the critics with a ‘reform’ agenda for investor-state arbitration. The reforms are remarkable in line with the big business lobby agenda. -- 4 page chart comparing business group positions, EC lingo and Corporate Europe's comments on each position -- downloaded pdf to Note
investor-State_disputes  dispute_resolution  arbitration  global_governance  comparative_law  legal_system  EU-law  Transatlantic_Trade_and_InvestmentPartnership  trade-agreements  trade-policy  EU_governance  EU-foreign_policy  MNCs  civil_society  FDI  big_business  power-asymmetric  regulation-harmonization  downloaded 
september 2014 by dunnettreader
Stephan W. Schill - The Sixth Path: Reforming Investment Law from Within :: SSRN June 4, 2014
Max Planck Institute for International Law -- Fourth Biennial Global Conference of the Society of International Economic Law (SIEL) Working Paper No. 2014/02. *--* In reaction to a summary of five different paths for investment law reform made by the United Nations Conference on Trade and Development in June 2013, which focused on institutional reforms of investor-State dispute settlement, the present paper sketches out a sixth path for investment law reform that is based on a system-internal reconceptualization of investor-State arbitration as a form of public law-based judicial review. It can be reformed, the paper argues, by arbitrators and parties making increasing use of comparative public law methodology that allows them to draw on the experience of more sophisticated systems of public law adjudication at the national and international level without the need for institutional reform to investor-State arbitration. First, the paper points out the benefits of the existing system of investor-State arbitration, in order to show that investor-State arbitration is an institution worth reforming from within. Second, the paper lays out the basic framework to reconceptualize investment law as a system of public law and governance and point out shortcomings in the currently prevailing approaches to understanding investor-State arbitration. Third, the paper indicates the methodological consequences of a reconceptualization of investor-State arbitration as a public law system of governance, namely the need for arbitrators to make increased use of comparative public law in resolving disputes. Finally, the paper shows how public law ideas and comparative public law methodology can be brought into investment arbitration in its present form and why arbitrators have an interest in conforming to these standards even without fundamental institutional reform. - Number of Pages in PDF File: 25 - Keywords: investment treaties, international investment law, investor-state arbitration, investment law - downloaded pdf to Note
paper  SSRN  international_law  international_economics  law-and-economics  international_political_economy  international_finance  capital_markets  investment  sovereign_debt  investor-State_disputes  FDI  dispute_resolution  arbitration  global_governance  comparative_law  legal_system  legal_theory  legal_reasoning  reform-legal  treaties  downloaded  EF-add 
september 2014 by dunnettreader

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