A strong public securities market, especially a public stock market, can facilitate economic
growth. But creating strong public securities markets is hard. That securities markets exist at …

We argue that the deregulation leading up to the Big Bang has played a major role in the
current banking problems. This deregulation allowed large corporations to switch quickly …

When anthrax attacks recently led to a run on the patented antibiotic drug Cipro, 1 politicians
and commentators suggested that the government consider purchasing generic alternatives …

Corporate governance is on the reform agenda all over the world. How will global economic
integration affect the different systems of corporate ownership and governance? Is the Anglo …

2084 UNIVERSITY'OFPENNSYLVANIAIAWREVIEW [Vol. 149: 2083 rules enforced by
courts. Bold claims that we are witnessing rapid convergence t ward a shareholder-centered …

numbers it could trust.'Securities issuers, oriented toward shareholder value enhancement
by the corporate culture of the 1990s, had been adopting aggressive, even fraudulent …

P ROPERTY rights are where the whole debate began. Berle and Means unwittingly set the
stage for modern day comparative corporate law scholarship in 1932 with a straightforward …

Financial regulation can fail when it is needed the most. The dynamics of asset price
bubbles weaken financial regulation just as financial markets begin to overheat and the risk …

nearly 30,000 corporate law data points, Ifind that despite globalization pres-sures, these
corporate laws have diverged over time. I also find that the com-mon provisions among …

We argue that the crisis is over in the sense that the underlying problems are now being
addressed, or at least acknowledged, such that a systemic banking crisis has been averted …