Coase-Sandor Working Paper Series in Law and Economics

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Law & Economics Working Papers


In this paper, I address the question of the legal regulation of corporate capital. This is a topic that cuts across a number of distinct areas of law, and that displays significant differences between the civil law used in Europe and elsewhere and the U.S. common law system. It is fundamental to the regulation of important economic institutions, notably banks, securities firms, and insurance companies. It is a question as well that lies at the core of the discipline of corporate finance. Surprisingly, however, scholars have not attempted to unify these disparate strands of theory and of legal regulation in a single analytical structure. In this paper I offer a preliminary attempt at such a unification.



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