kaal:claim:1664809-023

Legal uncertainty generates transaction costs, and European company boards will inevitably incur costs minimizing the information asymmetries created by different legal regimes that may or may not apply to their company.

Legal uncertainty generates transaction costs.

Richard W. Painter, Wulf A. Kaal, Extraterritorial Application of US Securities Law – Will the US Become the Default Jurisdiction for (2010), 4.3. Legal Uncertainty, p. 6
https://ssrn.com/abstract=1664809 · source PDF

Richard W. Painter, Wulf A. Kaal, Extraterritorial Application of US Securities Law – Will the US Become the Default Jurisdiction for (2010). SSRN: https://ssrn.com/abstract=1664809

• firms facing more than one potentially applicable legal regime

mechanismsupport: evidencedeconomicslaw-and-legal-systemsdisclosurecompliancecorporate-governance

• restated_by kaal:claim:1806252-018 A lack of regulatory guidance creates legal uncertainty, and legal uncertainty in turn generates transaction c...
• extended_by kaal:claim:1806252-006 Regulating entities that operate in the same markets under asymmetric rules creates legal uncertainty and sign...

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