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Title:	The Law and Economics of Self-dealing
Author:	Lopez-de-Silanes, Florencio; Djankov, Simeon; La Porta, Rafael; Shleifer, Andrei Note: Order does not necessarily reflect citation order of authors.
Citation:	Djankov, Simeon, Rafael La Porta, Florencio Lopez-de-Silanes, and Andrei Shleifer. 2008. The law and economics of self-dealing. Journal of Financial Economics vol. 88, issue 3: 430-465.
Full Text & Related Files:	selfdeal.may17.jfe.pdf (331.8Kb; PDF)
Abstract:	We present a new measure of legal protection of minority shareholders against expropriation by corporate insiders: the anti-self-dealing index. Assembled with the help of Lex Mundi law firms, the index is calculated for 72 countries based on legal rules prevailing in 2003, and focuses on private enforcement mechanisms, such as disclosure, approval, and litigation, that govern a specific self-dealing transaction. This theoretically grounded index predicts a variety of stock market outcomes, and generally works better than the previously introduced index of anti-director rights.
Published Version:	http://dx.doi.org/10.1016/j.jfineco.2007.02.007
Other Sources:	http://www.economics.harvard.edu/faculty/shleifer/paper
Terms of Use:	This article is made available under the terms and conditions applicable to Open Access Policy Articles, as set forth at http://nrs.harvard.edu/urn-3:HUL.InstRepos:dash.current.terms-of-use#OAP
Citable link to this page:	http://nrs.harvard.edu/urn-3:HUL.InstRepos:2907526

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  Peer reviewed scholarly articles from the Faculty of Arts and Sciences of Harvard University

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