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DFG Center for Advanced Studies - Foundations of Law & Finance (LawFin) Working Paper Series最新文献

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Using the Statistical Concept of “Severity” to Assess Seemingly Contradictory Statistical Evidence (with a Particular Application to Damage Estimation) 使用“严重性”的统计概念来评估看似矛盾的统计证据(特别应用于损害估计)
DFG Center for Advanced Studies - Foundations of Law & Finance (LawFin) Working Paper Series Pub Date : 2020-09-01 DOI: 10.2139/ssrn.3702906
Peter M. Boenisch, R. Inderst
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引用次数: 0
The Global Diffusion of Stewardship Codes 管理守则的全球传播
DFG Center for Advanced Studies - Foundations of Law & Finance (LawFin) Working Paper Series Pub Date : 2020-05-29 DOI: 10.2139/ssrn.3616798
D. Katelouzou, M. Siems
{"title":"The Global Diffusion of Stewardship Codes","authors":"D. Katelouzou, M. Siems","doi":"10.2139/ssrn.3616798","DOIUrl":"https://doi.org/10.2139/ssrn.3616798","url":null,"abstract":"In today’s world, the transfer of laws and regulations between different legal systems is commonplace. The global spread of stewardship codes in recent years presents a promising, but yet untested, terrain to explore the diffusion of such norms. This paper aims to fill this gap. Employing the method of content analysis and using information from 41 stewardship codes enacted between 1991 and 2019, we systematically examine the formal diffusion of these stewardship codes. While we find support for the diffusion story of the UK as a stewardship norm exporter, especially in former British colonies in Asia, we also find evidence of diffusion from transnational initiatives, such as the EFAMA and ICGN codes, as well as regional clusters. We also show that the UK Stewardship Code of 2020 now deviates from these current models; thus, it remains to be seen how far a second round of exportation of the revised UK model into the transnational arena will follow.","PeriodicalId":105856,"journal":{"name":"DFG Center for Advanced Studies - Foundations of Law & Finance (LawFin) Working Paper Series","volume":"10 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-05-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128005511","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 13
Shareholders and Stakeholders around the World: The Role of Values, Culture, and Law in Directors’ Decisions 世界各地的股东和利益相关者:价值观、文化和法律在董事决策中的作用
DFG Center for Advanced Studies - Foundations of Law & Finance (LawFin) Working Paper Series Pub Date : 2019-06-12 DOI: 10.2139/ssrn.3766934
Renée B. Adams, A. Licht
{"title":"Shareholders and Stakeholders around the World: The Role of Values, Culture, and Law in Directors’ Decisions","authors":"Renée B. Adams, A. Licht","doi":"10.2139/ssrn.3766934","DOIUrl":"https://doi.org/10.2139/ssrn.3766934","url":null,"abstract":"This study sets out to examine the relative importance of legal and cultural institutions and personal values in directors’ discretion. We present first evidence on the way personal and institutional factors together guide public company directors in decision-making concerning shareholders and stakeholders. In a sample comprising more than nine hundred directors from over fifty countries of origin, we confirm that directors hold a principled, quasi-ideological stance towards shareholders and stakeholders, called shareholderism. Directors’ shareholderism correlates with personal values, but also with cultural norms that are consistent with entrepreneurship. Among legal factors, only creditor protection exhibits a negative correlation with shareholderism, as theory would suggest, while general legal origin and proxies for shareholder and employee protection are unrelated to it.","PeriodicalId":105856,"journal":{"name":"DFG Center for Advanced Studies - Foundations of Law & Finance (LawFin) Working Paper Series","volume":"48 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-06-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132614569","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 9
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