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...

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...

The property-liability insurance industry has experienced significant turmoil during the past decade. Three related issues have received enormous attention: increases in the frequency and severity of insurance company insolvencies, high and increasing costs of automobile and workers’ compensation coverage, and volatility in prices and in availability of commercial liability insurance coverage. ...

The creation of the corporate system is a great invention, it gives company with independent personality and shareholders limited liability, stimulate enthusiasm investors, greatly promote development social economy. However, society, use legal person liability to avoid debt gradually increased, so denial came into being, used protect legitimate rights interests creditors. implementation always...

* University Senior Lecturer, Faculty of Law and Research Associate, Centre for Business Research, University of Cambridge; Research Associate, European Corporate Governance Institute. ** Associate Professor, Department of Accounting, National Taiwan University; formerly Research Fellow, Centre for Business Research, Cambridge University. *** Geldards LLP Professor of Corporate and Insolvency L...

Limited Liability Companies are formed by at least 2 (two) founders, and their formation is based on an agreement. At the end of 2020, government issued a law known as Job Creation Law (after this, referred to UUCK). UUCK was established promote economic development support business environment in Indonesia. has new form business, individual ownership, nature micro small businesses. Sole propri...

A Limited Liability Company is a legal entity which expressly recognized by law as subject. The main need for an authentic deed in the business sector of limited liability company (PT) entity. This study aims to analyze and understand policies related obtaining licenses companies online single submission system Indonesia protection through accordance with applicable laws regulations. method use...