OVERCOMING THE CORPORATE VEIL CHALLENGE: COULD INVESTMENT LAW INSPIRE THE PROPOSED BUSINESS AND HUMAN RIGHTS TREATY?

Corporate Investment Over the Business Cycle

While firm-level capital growth rates exhibit positive spikes, and rise as fast as they fall, the average capital growth rate across firms exhibits negative spikes, and declines faster than it recovers. We develop a dynamic model of investment that reconciles these empirical patterns. The model features costly reversibility, cyclical macroeconomic shocks, and uncertainty about the state of the ...

Business ethics, law, and the corporate use of laboratory animals.

We hear quite a bit about corporate social responsibility in our economy. The emphasis in these matters is upon the corporation's treatment of its customers in terms of financial fairness and personal well-being. Few people can be unfamiliar with the Pinto scenario 2 (which culminated in the Ford Motor Company's being tried for murder and acquitted in 1978) or the Dalkon Shield debacle (which r...

Piercing the Corporate Veil: An Empirical Study

Corporate Investment Over Uncertain Business Cycles

We present a dynamic model of irreversible corporate investment over the business cycle with uncertainty about the true state of the economy. We show that the firm’s optimal investment threshold, defined by the ratio of the current demand factor to the capital stock, is a concave function of the firm’s posterior probability of being in an expansion. Our model replicates some important features ...

Law, cosmopolitan law, and the protection of human rights

In Between Facts and Norms, Habermas articulates a system of rights, including human rights, within the democratic constitutional state. For Habermas, while human rights, like other subjective rights have moral content, they do not structurally belong to a moral system; nor should they be grounded in one. Instead, human rights belong to a positive and coercive legal order upon which individuals...