Even though it has been understood since the work of Modigliani and Miller in the 1950s that the cashflow rights of holders of debt and equity were not different in kind, the traditional understanding of corporate governance sees control rights radically differently. It draws a sharp line between debt and equity. Shareholders, as the residual owners, hold the reins of power.
Understanding Education in the United States Its Legal and Social Implications University of Chicago Law School June 17 and 18, 2011 Sponsored by the John M. Olin Program in Law and Economics and the University of Chicago Law Review
This conference focuses on the institutional design of immigration law: how law and institutions should be designed so as to admit people who are considered desirable from the standpoint of public policy, and to screen out those who are not.
This panel was recorded on December 5, 2009 as part of the conference "Markets, Firms and Property Rights: A Celebration of the Research of Ronald Coase." The conference brought together a group of scholars to honor the life and research of Ronald Coase. 2009 marked the 50th anniversary of the publication of Coase’s seminal paper on the Federal Communications Commission.