# Legislative reform

`kaal:entity:legislative-reform`

**Status.** derived

This node is assembled mechanically from the 3 claims that carry the concept tag `legislative-reform`. It is a roster of what the corpus says under this term. It is **not** an adjudicated definition: no single statement here has been ruled canonical, and no first-appearance call has been made. Read the claims and judge for yourself.

## Every claim under this term

3 claims across 2 works, 2014 to 2016.

**2014**

- [2486570-031](https://wulfkaal.github.io/claims/2486570-031) [mechanism/argued] -- Corporate wrongdoers are unlikely to prefer regulation by prosecution over regulation by legislation because prosecution and execution of an agreement carry large reputational implications.
  > Because of the large reputational implications of prosecution and N/DPA execution, corporate wrongdoers are unlikely to favor "regulation by prosecution" to regulation by legislation.
  Wulf A. Kaal, Timothy Lacine, The Effect of Deferred and Non-Prosecution Agreements on Corporate Governance Evidence from 1993-20 (2014). SSRN: https://ssrn.com/abstract=2486570
- [2486570-033](https://wulfkaal.github.io/claims/2486570-033) [predictive/speculative] -- In the long run, increased regulation by prosecution may be able to offset many of the shortcomings of legislative governance reform, even though it is less predictable than legislation.
  > In the long run, however, increased regulation by prosecution may be able to offset many of the shortcomings of leg- islative governance reforms.
  Wulf A. Kaal, Timothy Lacine, The Effect of Deferred and Non-Prosecution Agreements on Corporate Governance Evidence from 1993-20 (2014). SSRN: https://ssrn.com/abstract=2486570

**2016**

- [2714974-017](https://wulfkaal.github.io/claims/2714974-017) [predictive/argued] -- If Congress changes the tax treatment of carried interest, returns to hedge fund advisers and their investors are likely to fall markedly and the popularity of hedge funds will be severely tested.
  > Should Congress change the tax treatment of hedge fund managers, the returns to hedge fund advisers and their investors are likely to fall markedly.
  Kaal and Oesterle, The History of Hedge Fund Regulation in the United States (2016). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2714974

## Verify

Every claim above resolves to a record carrying a verbatim source quote, the sha256 of the source PDF, and a preformatted citation. Nothing here asks to be taken on trust.

    curl -s https://wulfkaal.github.io/entities/legislative-reform.md | sha256sum

**Canonical form.** This markdown file is the canonical hashed representation of this entity node. Its sha256 is the content hash.