Shareholder Protection: A Leximetric Approach

Lele, Priya; Siems, Mathias M.

doi:10.4337/9781848449022.00017

Cited by 74 publications

(92 citation statements)

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“…One way to evaluate the legal and regulatory framework is to use leximetrics which is a Bsystematic quantitative methodology^ (Cooter and Ginsburg 2003; 2) and includes a Bquantitative measurement of law^ (Buchanan et al 2014;p. 5;Lele and Siems 2007;p. 18).…”

Section: Assessment Of the Fcp Regime In Malaysia: Methodological Framentioning

confidence: 99%

“…Armour et al (2009) and Lele and Siems (2007) assert that when examining a variable within a jurisdiction, it does not matter functionally which law or regulation addresses it. Since a variable can be covered in any of the laws or regulations, its assessment would require examining a wider range of legal rules.…”

Section: Assessment Of the Fcp Regime In Malaysia: Methodological Framentioning

confidence: 99%

“…3) contends that assessing corporate governance by examining corporate law only is too narrow since it ignores a firm's status as an Beconomic organization that is structured by a number of legal institutions^such as employment and fiscal laws. Similarly, shareholder protection is not only linked to company law but also other legal institutions such as Bcontract law, civil procedure and questions of legal effectiveness^ (Lele and Siems 2007;p. 22).…”

Section: Assessment Of the Fcp Regime In Malaysia: Methodological Framentioning

confidence: 99%

“…Armour et al (2009), Lele and Siems (2007), and Siems (2008) assert that the method used to estimate the status of legal institutions in the law and finance literature has national biases. For example, eight variables used to develop an index of shareholder protection in La Porta et al (1998) is criticized to have a US bias (Armour et al 2009;Lele and Siems 2007). National biases can be avoided by considering variables developed by global multilateral, standard-setting bodies as a benchmark.…”

Section: Assessment Of the Fcp Regime In Malaysia: Methodological Framentioning

confidence: 99%

“…Armour et al (2009), Lele and Siems (2007), and Siems (2008) assert that measurements of legal institutions should be comprehensive to capture their complete strength and status. For example, Buchanan et al (2014;p.…”

Section: Assessment Of the Fcp Regime In Malaysia: Methodological Framentioning

confidence: 99%

See 4 more Smart Citations

Financial Consumer Protection Regime in Malaysia: Assessment of the Legal and Regulatory Framework

Ahmed

Ibrahim²

2018

J Consum Policy

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This paper examines the status of the legal and regulatory framework for consumer protection in Malaysia, an emerging economy. Using leximetrics and notions of incomplete law, the paper explores the financial consumer protection regime in the country by examining two aspects of the legal framework: the legal infrastructure and typology of laws. The Malaysian legal framework for financial consumer protection is assessed in light of the good practices identified in international guidelines issued on the themes by OECD and the World Bank. The results highlight the complementary nature and different roles that laws, regulations, and supporting institutions play in achieving a comprehensive financial consumer protection framework in the country.

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Section: Assessment Of the Fcp Regime In Malaysia: Methodological Framentioning

confidence: 99%

Section: Assessment Of the Fcp Regime In Malaysia: Methodological Framentioning

confidence: 99%

Section: Assessment Of the Fcp Regime In Malaysia: Methodological Framentioning

confidence: 99%

Section: Assessment Of the Fcp Regime In Malaysia: Methodological Framentioning

confidence: 99%

Section: Assessment Of the Fcp Regime In Malaysia: Methodological Framentioning

confidence: 99%

See 3 more Smart Citations

Financial Consumer Protection Regime in Malaysia: Assessment of the Legal and Regulatory Framework

Ahmed

Ibrahim²

2018

J Consum Policy

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The democratisation of European nature governance 1992–2015: introducing the comparative nature governance index

Kingston

Wang

Alblas

et al. 2021

Int Environ Agreements

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European environmental governance has radically transformed over the past two decades. While traditionally enforcement of environmental law has been the responsibility of public authorities (public authorities of the EU Member States, themselves policed by the European Commission), this paradigm has now taken a democratic turn. Led by changes in international environmental law and in particular the UNECE Aarhus Convention (UNECE, United Nations Economic Commission for Europe Convention (1998). Convention on access to information, public participation in decision-making and Access to Justice in Environmental Matters (the Aarhus Convention), signed on June 25, 1998.), EU law now gives important legal rights to members of the public and environmental non-governmental organisations (“ENGOs”) to become involved in environmental governance, by means of accessing environmental information, participating in environmental decision-making and bringing legal proceedings. While doctrinal legal and regulatory scholarship on this embrace of “bottom-up” private environmental governance is now substantial, there has been relatively little quantitative research in the field. This article represents a first step in mapping this evolution of environmental governance laws in the EU. We employ a leximetrics methodology, coding over 6000 environmental governance laws from three levels of legal sources (international, EU and national), to provide the first systematic data showing the transformation of European environmental governance regimes. We develop the Nature Governance Index (“NGI”) to measure how the enforcement tools deployed in international, EU and national law have changed over time, from the birth of the EU’s flagship nature conservation law, the 1992 Habitats Directive (Directive 92/43/EEC). At the national level, we focus on three EU Member States (France, Ireland and the Netherlands) to enable a fine-grained measurement of the changes in national nature governance laws over time. This article introduces our unique datasets and the NGI, describes the process used to collect the datasets and its limitations, and compares the evolution in laws at the international, EU and national levels over the 23-year period from 1992–2015. Our findings provide strong empirical confirmation of the democratic turn in European environmental governance, while revealing the significant divergences between legal systems that remain absent express harmonisation of the Aarhus Convention’s principles in EU law. Our data also set the foundations for future quantitative legal research, enabling deeper analysis of the relationships between the different levels of multilevel environmental governance.

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Articles of Association in UK Private Companies: An Empirical Leximetric Study

Hardman

2021

Eur Bus Org Law Rev

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The final provisions of the UK’s Companies Act 2006 have now been in force for 10 years. Part of this regime included a new form of model constitution, known as the Model Articles. This article uses empirical data to establish whether the Model Articles have been used in practice or not. To do so, it tracks the constitutions of a sample of companies (those incorporated in Scotland in October 2009) from their incorporation until December 2017. It undertakes a leximetric methodology to code 12 variables across the constitutions, with a 0 being coded for convergence to the default regime and 1 being coded for divergence from the default regime. The results show that the majority of companies do not deviate from the default regime, other than in one respect: most allowed for the ability to appoint alternate directors. More importantly, however, the dataset shows that few of the sample companies amended their articles of association following incorporation, and that there is a strong correlation between certain coding patterns and the presenter, or formation agent, used to incorporate the company.

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Shareholder Protection: A Leximetric Approach

Cited by 74 publications

References 0 publications

Financial Consumer Protection Regime in Malaysia: Assessment of the Legal and Regulatory Framework

Financial Consumer Protection Regime in Malaysia: Assessment of the Legal and Regulatory Framework

The democratisation of European nature governance 1992–2015: introducing the comparative nature governance index

Articles of Association in UK Private Companies: An Empirical Leximetric Study

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