Corporate and Securities

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What's So Bad About Paying Plaintiffs? (with Bruce H. Kobayashi), 2006 - The Fall and Rise of Federal Corporation Law (2006)
 

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Dabit, Preemption and Choice of Law, University of Illinois Legal Working Paper Series (2006)
The Supreme Court's decision in Merrill Lynch, Pierce, Fenner & Smith, Inc. v. Dabit, involves...
 

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Perils of Criminalizing Agency Costs, University of Illinois Legal Working Paper Series (2006)
This is a brief and informal discussion of some issues related to corporate criminal liability...
 

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Outsider Trading as an Incentive Device (with Bruce H. Kobayashi), University of Illinois Legal Working Paper Series (2006)
Outsiders often have and seek to trade on material nonpublic information about firms. For example,...
 

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Should History Lock in Lock-In?, University of Illinois Legal Working Paper Series (2006)
The corporation does not allow owners, at least by default, to cash out their interests....
 

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Directors' Duties in Failing Firms (with Kelli A. Alces), 2005 - Twilight in the Zone of Insolvency: FIDUCIARY DUTY AND CREDITORS OF TROUBLED COMPANIES (2005)
 

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Fraud on a Noisy Market, University of Illinois Legal Working Paper Series (2005)
Behavioral finance raises questions about market efficiency, suggesting that noise, and not just information, moves...
 

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Accountability and Responsibility in Corporate Governance, University of Illinois Legal Working Paper Series (2005)
Managers’ accountability to shareholders and corporations’ responsibility to society are two important objectives of corporate...
 

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Sarbanes-Oxley After Three Years, University of Illinois Legal Working Paper Series (2005)
This article reports on the experience with the Sarbanes-Oxley Act of 2002 in the three...
 

Corporations

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The Evolving Partnership, University of Illinois Legal Working Paper Series (2006)
Versions of this article were prepared for conferences in 2001 and 2006 in Europe dealing...
 

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The Important Role of Non-Organization Law, University of Illinois Legal Working Paper Series (2005)
The proliferation of partnership-based business organizations raises questions concerning the law’s role in shaping firms....
 

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Why Corporations?, University of Illinois Legal Working Paper Series (2005)
This Article suggests that reform of the governance of publicly held firms might appropriately include...
 

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Are Partners Fiduciaries?, University of Illinois Legal Working Paper Series (2004)
The proliferation of partnership-type entities raises many questions about how the traditional rules of business...
 

International corporate law

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Cross-Listing and Regulatory Competition, Review of Law & Economics (2007)
Firms can “rent” the securities laws in other countries by listing or selling securities there...
 

Law and Economics

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Initial Reflections on the Law and Economics of Blogging, American Law & Economics Association Annual Meetings (2007)
 

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Incomplete Contracts and Opportunism in Franchising Arrangements (with Jonathan Klick and Bruce H. Kobayashi), American Law & Economics Association Annual Meetings (2007)
 

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The Economics of Federalism (with Bruce H. Kobayashi), University of Illinois Legal Working Paper Series (2006)
This is the introductory essay for the Economics of Federalism, a book edited by the...
 

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A Standard Form Approach to Same Sex Marriage, University of Illinois Legal Working Paper Series (2004)
This paper attempts to find a path through the recent constitutional thicket regarding same sex...
 

Political Structure and Behavior (including Constitutional Law)

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The Public Face of Scholarship, University of Illinois Legal Working Paper Series (2006)
The web enables scholars to engage in several types of what I have called "amateur...
 

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Wall Street and Vine: Hollywood's View of Business, University of Illinois Legal Working Paper Series (2005)
American films have long presented a negative view of business. This article is the first...
 

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Imagining Wall Street, University of Illinois Legal Working Paper Series (2005)
The 1987 film Wall Street is one of the most popular films dealing with business,...