Motivated by important international differences in the design of ”say on pay” (SoP), this paper studies how its enforceability and its timing affects compensation decisions of the board of directors (BoD) and the level of board dependence. The analysis suggests that SoP design can have significant economic consequences that should be considered by regulatory authorities. In the context of a th...

INTRODUCTION: A TRADITIONAL SCHEMA OF CONTRACTING .... 548 I. AN INTRODUCTION TO COGNITIVE MODELS ....................... 549 II. THE ORIGIN OF THE MODERN SCHEMA OF CONTRACT ..... 550 III. CHANGES IN CULTURE HAVE TRANSFORMED THE WRITTEN WORD ...................................................................... 553 IV. FLAWS IN THE CURRENT COGNITIVE SCHEMA OF CONTRACT STEMMING FROM CHANGES IN T...

insurer companies frequently reinsure part of their risks before reinsurers. the question of right of action of the insured against the reinsurer then arises. the common response to this question is negative because of the principle of the privacy of contracts. however, courts, particularly in the united states, have recognized this direct action on various grounds, especially in case of insolv...

contract, electronic community, governance, e-commerce architecture We present work-in-progress towards a high-level e-commerce architecture for the electronic marketplace. We separate out the main components responsible for trading based on contractual relationships and trusted service delivery. In this setting, we view an enterprise as an autonomous entity that interacts with others according...