The central issue of this book is how to use standard-based strategies efficiently in the "controlling v. minority shareholder" context. A standard-based strategy has two core elements - a preset standard and ex post adjudication.
To reach an optimal efficiency, both elements need to balance between costs and benefits carefully. When and how the standard should be enforced by court is the second question that is critical to the efficacy of a standard-based strategy.
Last but not least, in practice, there are always multiple strategies co-functioning with each other. When assessing the efficiency of standard-based strategies, the effect of co-existing strategies should not be neglected, because the efficiency of the co-functioning system is the ultimate goal of regulation. For this purpose, the relationship between standard-based strategies and other strategies is the third sub-issue to be examined in the book.
.jpg?1680780797)