Monday, February 27, 2017

New Scholarship from Bryane Michael (AIIFL Fellow)

1. The Optimal Design of the Qianhai Special Economic Zone
This paper discusses changes to Qianhai's and Hong Kong's regulations necessary to make Qianhai a pre-eminent financial centre. We conduct econometric analyses which show that regulatory reform could increase innovative companies' profits by a factor of 10 over the long-term.

2. Hong Kong's Corporate Governance Rules, Lessons from the Panama Papers and Hong Kong's effect on Changing China's Corporate Governance
This paper describes the changes to Hong Kong's law needed to improve profitable corporate governance reform at home and on the Mainland. We show that the adoption of these standards could increase market valuations by 7%. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2914865

3. The Problems and Prospects for an IGAD Development Bank
The IGAD region, covering most of East Africa, represents a challenging area for investment in the best of times. The paper argues for a new design for multi-lateral development financial institutions -- one which focuses on securitisation and less sovereign involvement.

4. A Theory of Compliance Regulation
This paper looks at the way financial institutions should organise their compliance functions. We create a database of legal complexity of banking regulations around the world and show that increased regulation may promote banking productivity.

5. Regulations Determine an M&A Centre's Success
Legal complexity can actually help a financial centre attract more M&A business from places like China. This paper shows the extent to which international law firms and financial advisors have benefited (or not) from their jurisdictions' legal rules.

6. SCMP's Letter of the Law
Abstract legal theory can be used in the real world. Roughly each month, I look at the deep legal principles driving law enforcement and business in Hong Kong.

7. Law and Economics Video Series
Are you too lazy to read academic papers? This YouTube Channel presents the main ideas from legal theory and practice in Hong Kong -- in a graphic and common language way.

8. The Law and Economics Podcast
Too busy to watch a video? Why not subscribe to the podcast version? As new videos about legal theory and practice appear, this podcast makes the content available to anyone with a iPod.

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