University of Wisconsin Law School Legal Studies Research Paper Series最新文献

{"title":"Global Trends and Constraints on Tax Policy in the Least Developed Countries","authors":"Allison Christians","doi":"10.2139/ssrn.1445433","DOIUrl":"https://doi.org/10.2139/ssrn.1445433","url":null,"abstract":"Through decades of tax reform and cross-border collaboration, the world's wealthiest countries have adopted domestic tax policy norms that meet their mutually beneficial interests. But these norms have introduced rigorous change and increasingly rigid parameters for tax policy in the world's poorest countries. While much scholarly attention is devoted to identifying tax strategies that poor countries could or should adopt in response to global tax trends, relatively little is paid to the process through which these trends developed and how they constrain alternative policy choices. This article argues that many of the biggest challenges to taxation faced by the world's poorest countries are a reflection of the international community's failure to consider the impact of their tax policy consensus on these vulnerable nations. It concludes that the world's wealthiest nations should unleash the global constraints on tax policy by reforming their own approaches to taxation.","PeriodicalId":136724,"journal":{"name":"University of Wisconsin Law School Legal Studies Research Paper Series","volume":"14 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-08-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126222513","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}

{"title":"All Appeals Lead to Strasbourg? Unpacking the Impact of the European Court of Human Rights on Russia","authors":"Alexei Trochev","doi":"10.3200/DEMO.17.2.145-178","DOIUrl":"https://doi.org/10.3200/DEMO.17.2.145-178","url":null,"abstract":"The author explores how Russian government officials and judges interact with the European Court of Human Rights (ECtHR) and argues that the Russian judiciary may be the most ECtHR-friendly branch of Russian government. Russian judges increasingly refer to the jurisprudence of the ECtHR, despite facing a host of pressures to do otherwise. As a result, the Russian legal system’s adherence to the standards of the 1950 convention is a complicated work in progress that develops in fits and starts and in which those in power wrestle with the question of their legal autonomy to limit the domestication of European human rights standards in Russia’s governance.","PeriodicalId":136724,"journal":{"name":"University of Wisconsin Law School Legal Studies Research Paper Series","volume":"45 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-06-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127841938","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}

{"title":"Politics, Ideology, and Legal System Reform in Northeast Asia","authors":"J. Ohnesorge","doi":"10.2139/ssrn.871209","DOIUrl":"https://doi.org/10.2139/ssrn.871209","url":null,"abstract":"Legal systems throughout East Asia are in the midst of rapid and potentially fundamental change, across a range of legal fields. This paper, prepared for a conference on the potential effects of 9/11 on legal and social change in East Asia, examines East Asian legal reforms in the areas of administrative law and corporate law. These two fields, though not often studied in tandem, both respond to a pair of competing sentiments, one which can be thought of as \"neo-liberal,\" and the other which might be termed populist/progressive. These competing sentiments are at play as East Asian legal reforms unfold, and it is as yet unclear which of them will be more fully served once the reforms take hold in society. Complicating the picture are the effects of 9/11 on America's foreign policy, as well as the effects of the \"Enron\" crisis in American corporate governance, both of which have shifted America's focus on East Asian law reform from where it stood at the end of the 1990s.","PeriodicalId":136724,"journal":{"name":"University of Wisconsin Law School Legal Studies Research Paper Series","volume":"30 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2005-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134558717","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}

{"title":"Team Production in Venture Capital Investing","authors":"D. Smith","doi":"10.2139/ssrn.163588","DOIUrl":"https://doi.org/10.2139/ssrn.163588","url":null,"abstract":"Entrepreneurs and venture capitalists engage in \"team production.\" Inherent in team production is an incentive problem: team members have an incentive to shirk. The incentive to shirk derives from the inability to monitor team members perfectly and compensate them based on productivity. Economic models of team production teach that solutions to shirking must involve (1) a principal (2) with authority to \"break the budget\" by realigning the claims of team members through use of a penalty or a bonding arrangement (3) based only on observations of team output, not on monitoring of individual inputs. This paper analyzes the team production problem in venture capital investing using the rich set of facts provided by the book Startup: A Silicon Valley Adventure, which recounts how entrepreneur Jerry Kaplan and his venture capitalists at Kleiner Perkins Caufield & Byers, the most prominent venture capital firm in Silicon Valley, formed and operated GO Corporation. The paper argues that entrepreneurs and venture capitalists address the team production problem through staged financing, the practice of investing only enough money to allow the entrepreneur to progress to the next milestone in its business plan. Under the traditional view, the possibility of abandonment by the venture capitalist is the key virtue of staged financing. This insight is important but incomplete because it fails to accord full credit to the power of staged financing to provide incentives to both the entrepreneur and the venture capitalist. From the entrepreneur's perspective, the prospect of abandonment is not the only danger in staged financing, and it may not even be the most important. Another danger is that successive rounds of financing may substantially dilute the entrepreneur's interest in the company. This threat of dilution provides the entrepreneur with incentives to be diligent, thus effectively addressing the team production problem. Unlike the entrepreneur, the venture capitalist is not susceptible to dilution because the venture capitalist has a fixed claim, enforced by the right of first refusal in all additional financings. Nevertheless, the venture capitalist has incentives to maximize valuation at each stage of the financing process. Those incentives derive primarily from the reputational effects of high valuations.","PeriodicalId":136724,"journal":{"name":"University of Wisconsin Law School Legal Studies Research Paper Series","volume":"54 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1999-05-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115901380","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}

{"title":"Embedded Neoliberalism and Its Discontents: The Uncertain Future of Trade and Investment Law","authors":"Sonia E. Rolland, David M. Trubek","doi":"10.2307/j.ctvk8w1rz.13","DOIUrl":"https://doi.org/10.2307/j.ctvk8w1rz.13","url":null,"abstract":"An era marked by an uneasy truce between developed countries and the developing world is coming to an end. This era, which reached its apogee in the 1990s, could be characterized as “embedded” neoliberalism, where developing countries signed on to an international economic law (IEL) system premised on neoliberal tenets but softened by de jure and de facto exceptions and derogations ostensibly to accommodate developmental needs and policies. Initially, developing countries resisted rules that imposed unwanted restrictions and that limited growth options. But it was the best they could secure at the time so they accepted much of the regime thus creating a temporary truce. With this truce between market-oriented globalization and state-based developmentalism unraveling, we look at how things might evolve and ask if there is another set of relations that would address changing conditions, manage conflicting interests and restore some stability.","PeriodicalId":136724,"journal":{"name":"University of Wisconsin Law School Legal Studies Research Paper Series","volume":"45 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115981329","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}