Lacave and Urtiaga, ‘The Law and Economics of Comparative Corporate Law’

ABSTRACT
In this paper, we explain the methodological shifts that have occurred over time in the study of company law. Our hypothesis is that comparative company law has developed and evolved as a bridge between two extremes. On the one hand, the doctrinal, black-letter law approach to company law, dominant in academic commentary at the domestic level. On the other hand, the instrumental, analytic approach of the law and economics view of company law. As we will see, the evolution of the comparative approach to company law has seen frequent rebranding, from comparative corporate law, to comparative corporate governance, to law and finance and to theory and empirics of comparative corporate law. These re-branding waves have taken place as new questions, in need of different levels of analysis and methodological approaches, arose. Interestingly, in a two-way road, the comparative perspective has also enriched the L&E view of company law.

Sáez Lacave, Maria Isabel and Gutiérrez Urtiaga, María, The Law and Economics of Comparative Corporate Law (June 8, 2021). European Corporate Governance Institute – Law Working Paper No 591/2021, forthcoming in the Research Handbook On Comparative Corporate Governance (Martin Gelter and Afra Afsharipour eds).

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