About this ebook
Seminar paper from the year 2001 in the subject Business economics - Investment and Finance, grade: 1,7 (A-), European Business School - International University Schloß Reichartshausen Oestrich-Winkel (Banking & Finance), course: Bank und Finanzmanagement, language: English, abstract: The discussion of laws in the financial area and the relationship between law and finance originates back to Ronald Coase (1960). The Coase Theorem proposes that problems between issuers and investors are resolved through private contracting with the consequence of efficient markets. The past shows that the Coase Theorem in its purest form, which abandons transaction costs, is not applicable to investor – issuer- relationships, because the existence of transaction costs makes the enforcement of private contracts inefficient. Therefore judicially – enforced and government – enforced laws/ regulations have developed, in order to make contracting and thus the financial market more efficient. The aim of this paper is to explain to the reader the interdependencies that exist between law and finance by explaining law and finance issues on a theoretical basis and by finally showing the influence of globalization on these law and finance issues. Important developments are presently happening in the law and finance area of global corporations aiming at a further convergence of both law and finance. Although these developments are to a large extent driven by capital market needs, they will also have consequences for the accounting area in general, regulatory issues and for companies which have not yet decided to turn to the capital markets in order to satisfy their need for capital. [...]
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