Corporate Architecture and Limited Liability
نویسندگان
چکیده
منابع مشابه
Corporate Criminal Liability
The Common Law: Vicarious Liability and the Development of Primary Liability UNLESS THE TERMS OF THE STATUTE INVOLVED SPECIFICALLY PROVIDE TO the contrary, the criminal responsibility of a company or corporation, as distinct from its officers or employees, falls to be determined by common law principles. Under original common law, a company could not be convicted for any criminal offence. The c...
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A central point of the economic analysis of corporate liability for harm done to strangers (parties other than employees or customers of a corporation) is that the level of liability should generally equal the magnitude of harm. The rationale is 2-fold. If liable firms must pay damages 1 equal to harm, then, first, firms will in principle be led to take appropriate care to prevent harm; and, se...
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We consider the portfolio delegation problem in a world with potentially incomplete contingent claim markets. A principal hires an agent to manage a portfolio. When the agent has limited liability (that is, there is a lower bound on the compensation contract), she may have an incentive to take on excessive risk. With complete markets, the precise nature of the risk the agent may take on is a la...
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The literature on interlinkage is inconclusive regarding the strict superiority of this arrangement. We analyze a landlord and a moneylender as two players making non-cooperative decisions regarding the terms of their respective contracts with a tenant. In the sequential game where the landlord moves first and the tenant has limited liability, we demonstrate that there exist circumstances in wh...
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ژورنال
عنوان ژورنال: Review of Law & Economics
سال: 2008
ISSN: 1555-5879
DOI: 10.2202/1555-5879.1181