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The Globalization (Americanization?) of Executive Pay
(Berkeley Business Law Journal, 2004)
In the United States, the remuneration packages of top executives are characterized by a strong emphasis on pay-for-performance and by a highly lucrative "upside." There is much discussion of the possibility that executive ...
Litigating Challenges to Executive Pay: An Exercise in Futility?
(Washington University Law Quarterly, 2001)
This paper is an empirical analysis of plaintiffs' success rates in executive compensation litigation. Using data from publicly available files, this study examines a sample of 124 cases where shareholders have challenged ...
Megafirms
(North Carolina Law Review, 2001)
This paper documents and explains the amazing growth of the largest firms in law, accounting, and investment banking. Scholars to date have used various supply-side theories to explain the growth, and have generally examined ...
Timing Matters: Promoting Forum Shopping by Insolvent Corporations
(Northwestern University Law Review, 2000)
Most commentators decry forum shopping. This general hostility extends to forum shopping by firms filing for bankruptcy. Indeed, Congress is considering legislation designed to reduce forum shopping by companies filing for ...
Does Private Equity Create Wealth? The Effects of Private Equity and Derivatives on Corporate Governance
(University of Chicago Law Review, 2009)
Private equity has reaped large rewards in recent years. We claim that one major reason for this success is due to the corporate governance advantages of private equity over the public corporation. We argue that the ...
Corporate Voting and the Takeover Debate
(Vanderbilt Law Review, 2005)
For many years academics have debated whether it is better to permit hostile acquirers to use tender offers to gain control over unwilling target companies, or to force them to use corporate elections of boards of directors ...
Corporate Voting and the Takeover Debate
(Vanderbilt Law Review, 2005)
For many years academics have debated whether it is better to permit hostile acquirers to use tender offers to gain control over unwilling target companies, or to force them to use corporate elections of boards of directors ...
Explaining The International CEO Pay Gap: Board Capture Or Market Driven?
(Vanderbilt Law Review, 2004)
If we look at convergence through the lens of the Risk Adjustment Theory, then international pay convergence will only occur if U.S. and foreign CEOs' firm-specific risk levels converge. Empirically, this is a difficult ...
The New Look of Shareholder Litigation: Acquisition-Oriented Class Actions
(Vanderbilt Law Review, 2004)
Shareholder litigation is the most frequently maligned legal check on managerial misconduct within corporations. Derivative lawsuits and federal securities class actions are portrayed as slackers in debates over how best ...
Measuring Securities Market Efficiency in the Regulatory Setting
(Law and Contemporary Problems, 2000)
In the "Aircraft Carrier," the Securities and Exchange Commission (SEC) proposed changes in federal securities disclosure requirements in an attempt to enhance and facilitate the process of issuing new securities. Under ...