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Vol 21 No 9 Sept/Oct 2016

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Goode on Commercial Law

Edited by: Ewan McKendrick
Price: £170.00

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Economics of Securities Law

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Edited by: Geoffrey P. Miller

ISBN13: 9781783471812
Published: March 2016
Publisher: Edward Elgar Publishing Limited
Country of Publication: UK
Format: Hardback
Price: £485.00

Bringing together the most important articles from leading authors in the field, Professor Geoffrey Miller’s new collection, Economics of Securities Law, is an essential resource for students, policymakers and those interested in the history and current status of the subject.

The papers included represent fundamental contributions that shaped later thinking, illustrate approaches that have proven durably influential or represent important challenges to conventional views. The collection also explores new approaches, such as behavioural economics, alongside ‘Chicago School’ papers, comparative analyses and influential works by people involved in the creation of laws governing modern securities markets.

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Banking and Finance, Law and Economics
Volume I

Introduction Geoffrey P. Miller

1. Jonathan R. Macey and Geoffrey P. Miller (1991), ‘Origin of the Blue Sky Laws’, Texas Law Review, 70 (2), December, 347–97
2. William O. Douglas and George E. Bates (1933), ‘The Federal Securities Act of 1933’, Yale Law Journal, 43 (2), December, 171–217

3. George J. Stigler (1964), ‘Public Regulation of the Securities Markets’, Journal of Business, 37 (2), April, 117–42
4. George J. Benston (1973), ‘Required Disclosure and the Stock Market: An Evaluation of the Securities Exchange Act of 1934’, American Economic Review, 63 (1), March, 132–55
5. Gregg A. Jarrell (1981), ‘The Economic Effects of Federal Regulation of the Market for New Security Issues’, Journal of Law and Economics, 24 (3), December, 613–75
6. Frank H. Easterbrook and Daniel R. Fischel (1984), ‘Mandatory Disclosure and the Protection of Investors’, Virginia Law Review, 70 (4), May, 669–715
7. John C. Coffee, Jr. (1984), ‘Market Failure and the Economic Case for a Mandatory Disclosure System’, Virginia Law Review, 70 (4), May, 717–53
8. Paul G. Mahoney (1995), ‘Mandatory Disclosure as a Solution to Agency Problems’, University of Chicago Law Review, 62 (3), Summer, 1047–112
9. Douglas W. Diamond (1985), ‘Optimal Release of Information by Firms’, Journal of Finance, 40 (4), September, 1071–94

10. Eugene F. Fama (1970), ‘Efficient Capital Markets: A Review of Theory and Empirical Work’, Journal of Finance, Papers and Proceedings, 25 (2), May, 383–417
11. Michael C. Jensen (1978), ‘Some Anomalous Evidence Regarding Market Efficiency’, Journal of Financial Economics, 6 (2–3), June–September, 95–101
12. Charles M.C. Lee, Andrei Shleifer and Richard H. Thaler (1991), ‘Investor Sentiment and the Closed-End Fund Puzzle’, Journal of Finance, 46 (1), March, 75–109
13. Sanford J. Grossman and Joseph E. Stiglitz (1980), ‘On the Impossibility of Informationally Efficient Markets’, American Economic Review, 70 (3), June, 393–408
14. Ronald J. Gilson and Reinier Kraakman (2014), ‘Market Efficiency After the Financial Crisis: It's Still a Matter of Information Costs’, Virginia Law Review, 100 (2), April, 313–75

15. Harry Markowitz (1952), ‘Portfolio Selection’, Journal of Finance, 7 (1), March, 77–91
16. William F. Sharpe (1964), ‘Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk’, Journal of Finance, 19 (3), September, 425–42

17. Jonathan R. Macey and Geoffrey P. Miller (1990), ‘Good Finance, Bad Economics: An Analysis of the Fraud-on-the-Market Theory’, Stanford Law Review, 42, April, 1059–92
18. John C. Coffee, Jr. (2006), ‘Reforming the Securities Class Action: An Essay on Deterrence and Its Implementation’, Columbia Law Review, 106 (7), November, 1534–86
19. Donald C. Langevoort (2009), ‘Basic at Twenty: Rethinking Fraud on the Market’, Wisconsin Law Review, 2009 (2), April, 151–98


Volume II

An introduction to both volumes by the editor appears in Volume I

1. Henry G. Manne (1965), ‘Mergers and the Market for Corporate Control’, Journal of Political Economy, 73 (2), April, 110–20
2. Frank H. Easterbrook and Daniel R. Fischel (1981), ‘The Proper Role of a Target’s Management in Responding to a Tender Offer’, Harvard Law Review, 94 (6), April, 1161–204
3. Lucian A. Bebchuk (1982), ‘The Case for Facilitating Competing Tender Offers’, Harvard Law Review, 95, 1028–56
4. Michael C. Jensen and Richard S. Ruback (1983), ‘The Market for Corporate Control: The Scientific Evidence’, Journal of Financial Economics, 11 (1–4), April, 5–50

5. Henry G. Manne (1966), ‘In Defense of Insider Trading’, Harvard Business Review, 44, November–December, 113–22
6. Dennis W. Carlton and Daniel R. Fischel (1982), ‘The Regulation of Insider Trading’, Stanford Law Review, 35, May, 857–95
7. David D. Haddock and Jonathan R. Macey (1986), ‘A Coasian Model of Insider Trading’, Northwestern University Law Review, 80 (6), 1449–72
8. James D. Cox (1986), ‘Insider Trading and Contracting: A Critical Response to the “Chicago School”’, Duke Law Journal, 35 (4), September, 628–59
9. Lawrence R. Glosten and Paul R. Milgrom (1985), ‘Bid, Ask and Transaction Prices in a Specialist Market with Heterogeneously Informed Traders’, Journal of Financial Economics, 14 (1), March, 71–100

10. Malcolm Baker, Jeffrey Wurgler and Yu Yuan (2012), ‘Global, Local, and Contagious Investor Sentiment’, Journal of Financial Economics, 104 (2), May, 272–87
11. David Hirshleifer (2001), ‘Investor Psychology and Asset Pricing’, Journal of Finance, 56 (4), August, 1533–97
12. Robert J. Shiller (2003), ‘From Efficient Markets Theory to Behavioral Finance’, Journal of Economic Perspectives, 17 (1), Winter, 83–104
13. Stephen J. Choi and A.C. Pritchard (2003), ‘Behavioral Economics and the SEC’, Stanford Law Review, 56 (1), October, 1–73

14. Roberta Romano (1998), ‘Empowering Investors: A Market Approach to Securities Regulation’, Yale Law Journal, 107, 2359–430
15. Jennifer H. Arlen and William J. Carney (1992), ‘Vicarious Liability for Fraud on Securities Markets: Theory and Evidence’, University of Illinois Law Review, 1992, 691–740

16. John C. Coffee, Jr. (1991), ‘Liquidity Versus Control: The Institutional Investor as Corporate Monitor’, Columbia Law Review, 91 (6), October, 1277–368
17. Marcel Kahan and Edward Rock (2011), ‘The Insignificance of Proxy Access’, Virginia Law Review, 97, 1347–434
18. Henry T.C. Hu and Bernard Black (2006), ‘Empty Voting and Hidden (Morphable) Ownership: Taxonomy, Implications, and Reforms’, Business Lawyer, 61 (3), May, 1011–70

19. Rafael La Porta, Florencio Lopez-de-Silanes and Andrei Shleifer (2006), ‘What Works in Securities Laws?’, Journal of Finance, 61 (1), February, 1–32


Series: Economic Approaches to Law

Economics of Health Law ISBN 9781781003879
Published February 2016
Edward Elgar Publishing Limited
Economics of Financial Law ISBN 9781783471829
Published February 2016
Edward Elgar Publishing Limited
Economics of Bankruptcy ISBN 9781845426415
Published November 2012
Edward Elgar Publishing Limited
Economics of Intellectual Property Law ISBN 9781845425456
Published December 2007
Edward Elgar Publishing Limited
Economics Of Administrative Law ISBN 9781845429720
Published November 2007
Edward Elgar Publishing Limited
Economics Of Evidence, Procedure And Litigation ISBN 9781845429393
Published September 2007
Edward Elgar Publishing Limited
Economics Of Tort Law
Edited by: Alan O. Sykes
ISBN 9781845424541
Published September 2007
Edward Elgar Publishing Limited
Economics of Conflict of Laws ISBN 9781847200761
Published August 2007
Edward Elgar Publishing Limited
Economics Of Labor And Employment Law ISBN 9781845427061
Published August 2007
Edward Elgar Publishing Limited
Economics of Property Law ISBN 9781847201140
Published July 2007
Edward Elgar Publishing Limited
Economics of Contract Law ISBN 9781845426521
Published February 2007
Edward Elgar Publishing Limited
Economics of Family Law ISBN 9781845424398

Edward Elgar Publishing Limited
Economics of European Union Law ISBN 9781845426392

Edward Elgar Publishing Limited
Economics of Federalism ISBN 9781845425272

Edward Elgar Publishing Limited