Appraisal rights and corporate disclosure during mergers and acquisitions

Target shareholders have the right to ask for a higher merger price if good news emerges after a merger agreement. This “appraisal right” varies with state law and was substantially strengthened in Delaware in 2007. I examine how target managers respond to changes in this right. If target managers represent target shareholders, the managers would be more likely to release good news, but I find they are more likely to withhold good news when appraisal rights are higher. This suggests agency problems and collusion on the part of target managers, and thus my paper adds to the larger literature that considers agency problems on the part of managers.     

Employee firing costs and auditors’ going-concern opinions: Evidence from wrongful discharge laws

This paper examines the impact of employee firing costs on auditors’ going-concern (GC) reporting decisions by exploiting the wrongful discharge laws (WDLs) adopted by U.S. states. We find that auditors are more likely to issue GC opinions to financially-distressed clients headquartered in states that have adopted the laws, in particular the good faith exception, than to clients in states that have not. This finding is robust to controlling for the state-level economics, the strictness of legal liability rules, audit office fixed effects, as well as alternative definitions of financial distress and estimation methods. The impact is concentrated in labor-intensive clients and clients in industries with a higher proportion of nonunionized or permanent employees. We further find that the increased propensity to issue GC opinions is attenuated when the auditor is economically dependent on the client, and is driven by auditors who possess labor-specific expertise. Overall, these findings are consistent with higher firing costs increasing auditors’ propensity to issue GC opinions.     

Barriers to employee rights: Gender,selection, and the labor process

This article applies a labor process analysis to the issue of employment rights in the particular context of gender inequality and unlawful discrimination in the recruitment process. It criticizes conventional perspectives on employee rights for their failure to examine critically managerial power and prerogative and its implications for gender inequality. The article outlines two particular labor process theories of gender divisions and inequality. In exploring the strengths and weaknesses of these more critical perspectives, the article highlights the analytical significance that they ascribe to power asymmetries in the labor process and labor market. Building on this perspective, the analysis then presents empirical data on gender discrimination in the selection practices of contemporary UK organizations. The research material reveals how gender discrimination can be reproduced, rationalized, and resisted. These empirical findings are theorized through a combined labor process analysis of power, knowledge, and identity in recruitment practices. We conclude that labor process analysis facilitates our understanding of the deep-seated barriers that continue to impede the protection of employee rights in workplace practices.     

Marginal Economy: Growth Strategies for Post-Growth Societies

A sharp problem focus sharpens the problem. Sustainably growing bodies of literature on degrowth are not the key to post-growth scenarios because evocations of the limits of growth reinforce rather than transcend the economic principle, which is in the observation of scarcity. Therefore, I focus on alternative forms of growth rather than alternatives to growth. My form-theoretical analysis of growth dismoralizes growth and disembeds it from the economic medium in which it is preferably drawn. I suggest that the key to a post-growth society is in a regrowth of interest in growth in, so far, neglected non-economic function systems.     

Usury laws and private credit in Lima,Peru. Evidence from notarized records

I examine the impact of usury laws on the Peruvian credit market between 1825 and 1852. Using a new data set of nearly 2,000 loans from archival sources, I show that the repeal of colonial anti-usury laws in early 1833 had an important effect on the allocation of credit in Lima. It increased interest rates and promoted access to credit. Furthermore, lenders made loans with greater maturities after the repeal of usury laws.     

土地法与中国农村的社会变迁

土地法与中国农村的社会变迁存在着互动的辨证关系。一方面,土地法的演变源于中国社会和农村的深刻变革,各种政治、经济或文化的力量催生中国土地法律制度的变迁;另一方面,中国农村社会在土地法的推动下不断迈向现代社会。人口构成、社会分层、农村基本经济制度、社会治理模式、农民行为模式和心理习惯等,是这种关系展开的不同层面。迄今,这种相互影响、相互促进的互动关系仍在继续。     

我国中小企业新型融资工具探析——基于集合债券和集合票据的分析

中小企业统一发行集合债券或集合票据,成为当前拓宽我国中小企业直接融资渠道的一个重要模式,然而当前我国中小企业集合发债仍面临诸多困难。对此,应大力发挥各地政府在集合发债项目中的作用,加强信用担保体系建设,实现集合债券（票据）信用增级,建立多层次支持中小企业发展的政策法律体系。     

医患纠纷法律适用探析

近年来,对医患纠纷的法律适用问题,理论及司法实践中均存在争议,这既不利于化解日益尖锐的医患矛盾,也有碍于对医患双方利益的维护。在明确医患纠纷法律适用的前提条件、理论基础及关键的基础上,提出医患纠纷应适用《民法通则》《合同法》等民事法律规范调整;医患纠纷原则上应属于《消法》调整,但由于医疗服务的高风险性的特征,应予以区别对待。     

论我国现行缺陷产品召回制度

我国有关缺陷产品召回制度的法律规范或者原则性较强缺乏可操作性、或者位阶较低不具有广泛性、或者针对特定产品适用面较窄。所以,我们应借鉴发达国家的先进经验制定有关缺陷产品召回制度的基本法律和针对特定行业的特别法律,同时建立明确的缺陷产品召回管理体系,以形成保护消费者、维护市场安全与稳定的健全的法律制度和运行机制。     

旅游策划创新中存在的问题及对策探讨

随着我国旅游产业的迅猛发展,各级政府和有关部门对策划与规划也日益重视,因而策划、规划从业人员越来越多,影响越来越大,竞争也日趋激烈。于是"创新"往往成为吸引眼球、击败对手、争取项目的制胜"法宝",创新的成败往往也决定着一个地区旅游业的兴衰和景区的生死存亡。不过,在创新策划与规划的过程中确实出现了不少问题,如:有关部门对策划与规划资质把关不严;盲目求大求洋;策划或规划项目与景区主题及文化内涵不协调;严重破坏资源和环境;评审流于形式等。针对这些问题,应相应地采取一些对策,如:严把资质关;严格遵守有关的法律法规;高度重视对策划从业者的培养和管理工作;严格遵循科学策划、科学规划的程序和原则;建立并严格执行全程监督和终身责任追究制度;严把评审关等。