International Review of Law and Economics最新文献

Financial innovation and local governments investment 金融创新与地方政府投资

IF 1 3区社会学

International Review of Law and Economics Pub Date : 2026-06-01 Epub Date: 2026-02-09 DOI: 10.1016/j.irle.2026.106323

Maxime Fajeau , Samuel Ligonnière , Alexandre Mayol

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引用次数: 0

Can judicial independence restrain corporate fraud? Empirical evidence from Chinese A-share listed firms 司法独立能抑制公司欺诈吗？来自中国a股上市公司的经验证据

IF 1 3区社会学

International Review of Law and Economics Pub Date : 2026-06-01 Epub Date: 2026-02-08 DOI: 10.1016/j.irle.2026.106324

Tengjiao He , Yijun Yu , Yufei Zhang , Li Wang

引用次数: 0

Efficient liability law with costly insurance 有效的责任法律和昂贵的保险

IF 1 3区社会学

International Review of Law and Economics Pub Date : 2026-03-01 Epub Date: 2025-11-18 DOI: 10.1016/j.irle.2025.106310

Luigi Alberto Franzoni

引用次数: 0

Structural or cyclical decline: Commercial court cases in the Netherlands 结构性或周期性衰退：荷兰商事法庭案件

IF 1 3区社会学

International Review of Law and Economics Pub Date : 2026-03-01 Epub Date: 2025-12-29 DOI: 10.1016/j.irle.2025.106319

Diogo Requena , Frans van Dijk , Wolter Hassink , Remme Verkerk

{"title":"Structural or cyclical decline: Commercial court cases in the Netherlands","authors":"Diogo Requena , Frans van Dijk , Wolter Hassink , Remme Verkerk","doi":"10.1016/j.irle.2025.106319","DOIUrl":"10.1016/j.irle.2025.106319","url":null,"abstract":"<div><div>In the Netherlands, the number of commercial court cases has been declining since the end of the 2008 financial crisis. A similar decline is observed in other countries. The reasons for this decline are not well understood. Therefore, we investigate to what extent this decline is related to the business cycle and to what extent it is related to structural factors. To address this question, we use administrative data provided by the Dutch judiciary that enables us to separate cases by type of dispute. This disaggregation makes it possible to differentiate a type of case that is closely linked to the business cycle (debt collection) from a type that is not (tort). We perform regressions on the volume of these different types of cases while controlling for firms’ fixed effects. Our results indicate that, while the decline is the result of a combination of business cycle and structural factors, structural factors dominate in contentious litigation. The interviews with experts indicate that the structural decline is due to both the expansion of new technologies that increased information availability and the increased centralization of firms.</div></div>","PeriodicalId":47202,"journal":{"name":"International Review of Law and Economics","volume":"85 ","pages":"Article 106319"},"PeriodicalIF":1.0,"publicationDate":"2026-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145924918","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Williamson’s legacy: A lasting influence 威廉姆森的遗产：持久的影响

IF 1 3区社会学

International Review of Law and Economics Pub Date : 2026-03-01 Epub Date: 2025-11-19 DOI: 10.1016/j.irle.2025.106309

Claude Ménard

{"title":"Williamson’s legacy: A lasting influence","authors":"Claude Ménard","doi":"10.1016/j.irle.2025.106309","DOIUrl":"10.1016/j.irle.2025.106309","url":null,"abstract":"<div><div>Building mainly on Coase (but also Arrow, Barnard, Simon, and many others), Williamson played a central role in the establishment and academic recognition of the economics of organizations and more generally the economics of institutions. Over numerous contributions, he introduced and/or enriched a set of interdependent concepts regarding transactions, rights, and contracts, defining the “golden triangle” of New Institutional Economics. The resulting framework provides solid theoretical ground to the analysis of the many alternative ways to organize the transfer/allocation of rights through transactions and delivered what became a key explanation to the trade-off among alternative organizational solutions faced by decision-makers. In doing so Williamson pointed out the need for an in-depth revision of traditional micro-economics and opened room for the analysis of the governance of these different structures, at the junction of economics, management, and sociology. It also led Williamson to consider the institutional embeddedness of all these micro-institutions, contributing to bridge the gap with the “macro-variant” of NIE personified by Douglass North. Williamson explored this connection mainly through the case of regulation, thus establishing links between economics and the law. In all these aspects his legacy has been and remains a source of lasting influence.</div></div>","PeriodicalId":47202,"journal":{"name":"International Review of Law and Economics","volume":"85 ","pages":"Article 106309"},"PeriodicalIF":1.0,"publicationDate":"2026-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145616222","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Does court-annexed mediation facilitate case disposition? Evidence from civil and commercial lawsuits 法院附带调解是否有利于案件的处理？民商事诉讼证据

IF 1 3区社会学

International Review of Law and Economics Pub Date : 2026-03-01 Epub Date: 2025-11-10 DOI: 10.1016/j.irle.2025.106307

Peter Grajzl , Jaka Cepec , Barbara Mörec

{"title":"Does court-annexed mediation facilitate case disposition? Evidence from civil and commercial lawsuits","authors":"Peter Grajzl , Jaka Cepec , Barbara Mörec","doi":"10.1016/j.irle.2025.106307","DOIUrl":"10.1016/j.irle.2025.106307","url":null,"abstract":"<div><div>We examine the effectiveness of court-annexed mediation (CAM) in facilitating case disposition, drawing on nearly 380,000 civil and commercial disputes adjudicated in Slovenian first-instance courts between 2009 and 2023. To address CAM’s endogeneity, we leverage a rich set of covariates and combine propensity score estimation with matching and parametric analysis. Conducting CAM, on average, reduces case duration by 12 % (42 days based on sample mean) and raises the likelihood of settlement by 25–32 percentage points (60–176 % of mean settlement probability, depending on the definition). CAM’s effect, however, varies considerably across different cases. CAM significantly reduces duration in commercial, intellectual property, damages, and enforcement lawsuits, as well as in cases filed during backlog periods and in courts that adopted CAM early. By contrast, we find no effect of CAM on duration in disputes involving five or more parties. CAM improves settlement prospects across all examined case groups—especially in small-value claims, commercial and enforcement lawsuits, and disputes in which neither party is represented by an attorney. Notably, the key determinant of whether CAM is offered and conducted is the identity of the presiding judge, underscoring the critical role judges play in driving CAM’s adoption.</div></div>","PeriodicalId":47202,"journal":{"name":"International Review of Law and Economics","volume":"85 ","pages":"Article 106307"},"PeriodicalIF":1.0,"publicationDate":"2026-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145616224","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Exchange offer, prenegotiated, or freefall restructuring 交换要约，预先谈判，或自由落体重组

IF 1 3区社会学

International Review of Law and Economics Pub Date : 2026-03-01 Epub Date: 2025-12-31 DOI: 10.1016/j.irle.2025.106320

Timothy C.G. Fisher , Jocelyn Martel , Lorenzo Naranjo

{"title":"Exchange offer, prenegotiated, or freefall restructuring","authors":"Timothy C.G. Fisher , Jocelyn Martel , Lorenzo Naranjo","doi":"10.1016/j.irle.2025.106320","DOIUrl":"10.1016/j.irle.2025.106320","url":null,"abstract":"<div><div>This study examines the roles of institutional investors in corporate restructuring decisions. We expand the existing empirical literature by using a multinomial logit model with instrumental variables to evaluate the three-way choice of distressed firms between exchange offers, ‘freefall’ Chapter 11, and ‘prenegotiated’ Chapter 11. In addition, we consider a comprehensive list of institutional investors and assess the impact of their equity and debt holdings on restructuring outcomes. Using a unique sample of 74 Chapter 11 freefall cases, 57 prenegotiated Chapter 11 cases, and 138 exchange offers from 2000 to 2018, we find that equity holdings by government, individual, investment advisors and pension funds are positively related to exchange offers and negatively to freefall plans. In contrast, bond holdings by bank, hedge fund, and VC/PE investors are negatively related to exchange offers and positively to freefall or prenegotiated plans while the inverse holds for insurance companies. In addition, assets to liabilities and interest coverage ratios are strongly associated with exchange offers, while higher short-term debt and EBIT margins correlate with freefall and prenegotiated plans. Our results underscore the critical role of investor type in shaping corporate restructuring strategies.</div></div>","PeriodicalId":47202,"journal":{"name":"International Review of Law and Economics","volume":"85 ","pages":"Article 106320"},"PeriodicalIF":1.0,"publicationDate":"2026-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145925131","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Conditional political legislation cycles 有条件的政治立法周期

IF 1 3区社会学

International Review of Law and Economics Pub Date : 2026-03-01 Epub Date: 2025-10-14 DOI: 10.1016/j.irle.2025.106305

Fabio Padovano , Youssoufa Sy

{"title":"Conditional political legislation cycles","authors":"Fabio Padovano , Youssoufa Sy","doi":"10.1016/j.irle.2025.106305","DOIUrl":"10.1016/j.irle.2025.106305","url":null,"abstract":"<div><div>The Political Legislation Cycles theory predicts peaks of legislative production before elections, as incumbents adopt vote-maximizing strategies to secure reelection. Like for budget cycles, legislative cycles can be interpreted as quantitative evidence of a dynamic inefficiency in the agency relationship between voters and politicians. This paper presents the first panel test of PLC theory, to identify which institutional features generate this inefficiency, exploiting a newly assembled dataset of the legislative activity of twenty electoral democracies, mainly from 1975 to 2010s. The estimates show that the total number of laws decreases at the beginning of a legislature and significantly increases near its end, generally 6 months before, with magnitudes of the cycles varying across countries. These cross-countries variations appear correlated with electoral systems (PR electoral systems generating cycles 67 % greater than majoritarian), government systems, with presidential democracies being characterized by larger cycles especially when governments are divided, and with the degree of fiscal decentralization, with highly decentralized countries showing a legislative cycles 64 % greater. Finally, the level of democracy affects PLC in a nonlinear way. These results provide a quantitative guidance to constitutional reforms aimed at increasing efficiency in the representation of voters’ preferences in democracies</div></div>","PeriodicalId":47202,"journal":{"name":"International Review of Law and Economics","volume":"85 ","pages":"Article 106305"},"PeriodicalIF":1.0,"publicationDate":"2026-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145616223","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Private enforcement of procurement rules: The heterogeneous effect of the EU remedies directive 采购规则的私人执行：欧盟救济指令的异质效应

IF 1 3区社会学

International Review of Law and Economics Pub Date : 2026-03-01 Epub Date: 2025-11-19 DOI: 10.1016/j.irle.2025.106308

Eshien Chong , Michael Klien , Stéphane Saussier

引用次数: 0

Behaviorally efficient remedies: An experiment 行为有效的补救措施：一个实验

IF 1 3区社会学

International Review of Law and Economics Pub Date : 2026-03-01 Epub Date: 2026-01-08 DOI: 10.1016/j.irle.2026.106321

Christoph Engel, Lars Freund

引用次数: 0