Some Legal Determinants of External Finance in Scotland: A Response to Lord Hodge

Hardman, Jonathan

doi:10.3366/elr.2017.0388

Cited by 2 publications

(2 citation statements)

References 8 publications

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“…[T]he selection of variables must be intelligible and wide enough to function as a proxy for shareholder protection in general, which is not the case with 54 Cooter and Ginsburg (2003). 55 Hardman (2017), p 39. 56 Lele and Siems (2007), p 20.…”

Section: Methodological Approachmentioning

confidence: 99%

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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Section: Methodological Approachmentioning

confidence: 99%

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

Hardman

2021

Eur Bus Org Law Rev

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“…Efficiency can mean various different things economically, 20 but under any definition from the prisoners' perspective it is efficient for them to minimize their aggregate time in prison. The optimal outcome is, therefore, that both stay silent, as then an aggregate of two years is spent in prison.…”

Section: Law and Economicsmentioning

confidence: 99%

The Law and Economics of Grindr: A Response to Carson

Hardman¹

2019

J. Law. Med. Ethics

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In the Winter 2017 edition of JLME, Dr. Carson outlined an economic approach to the epidemiology of HIV transmission within the gay community, with a special emphasis on mobile apps. His conclusion is that HIV transmission amongst the gay community constitutes a collective action problem, which is resolved by the social norm of using a condom. This article critiques Dr. Carson's approach from an economic perspective. By utilizing classic law and economic theory, this article will argue that HIV transmission may not, in fact, constitute a collective action problem in economic terms, and that instead condom use as a method of disease protection in theory can arise from purely rational, market driven actions. To do so, it borrows from transactional theory of information asymmetry to show the potential to alert counterparts as to serostatus. This conclusion provides an important supplement to Carson: rather than social norms being the core driver in condom usage to prevent HIV, instead condom use may arise solely as a result of rational, private decision making arising from market signaling. The article then critiques its own findings to demonstrate that it is unclear whether Carson's argument or the argument in this paper is, indeed, correct — which may represent a limitation in the analytical techniques advanced.

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Some Legal Determinants of External Finance in Scotland: A Response to Lord Hodge

Cited by 2 publications

References 8 publications

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

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

The Law and Economics of Grindr: A Response to Carson

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