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Regulatory Analysis in Corporate Law

Petrin, M; (2016) Regulatory Analysis in Corporate Law. The Modern Law Review , 79 (4) pp. 537-574. 10.1111/1468-2230.12201. Green open access

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Abstract

Drawing from recent experiences in the US, UK, and EU, this article examines regulatory analysis of corporate law policies. It suggests that regulatory analysis, as currently understood and applied in this area, suffers from severe weaknesses. The effects of proposed corporate law policies are often particularly difficult to predict and even more difficult to quantify, which negatively impacts analytical reliability. Moreover, given its nature and interconnections with politics, corporate law is less amenable to purely technocratic assessments than other areas of law. Based on three case studies, the article explores these problems. It outlines a revised ‘procedural’ view, suggesting that regulatory analysis in corporate law should be understood primarily as a process for enhancing information, transparency, and monitoring, independently from specific normative criteria. This leads to several implications. In short, regulatory analysis should combine quantified analysis with leeway for regulatory judgment and focus on increased consultation, critical engagement, review, and transparency as the dominant guiding factors.

Type: Article
Title: Regulatory Analysis in Corporate Law
Open access status: An open access version is available from UCL Discovery
DOI: 10.1111/1468-2230.12201
Publisher version: http://dx.doi.org/10.1111/1468-2230.12201
Language: English
Additional information: This is the peer reviewed version of the following article: Petrin, M. (2016), Regulatory Analysis in Corporate Law. The Modern Law Review, 79: 537–574. doi:10.1111/1468-2230.12201, which has been published in final form at http://dx.doi.org/10.1111/1468-2230.12201. This article may be used for non-commercial purposes in accordance with Wiley Terms and Conditions for Self-Archiving.
Keywords: Regulatory analysis, impact analysis, cost benefit, corporate law, regulation
UCL classification: UCL
UCL > Provost and Vice Provost Offices
UCL > Provost and Vice Provost Offices > UCL SLASH
UCL > Provost and Vice Provost Offices > UCL SLASH > Faculty of Laws
URI: https://discovery.ucl.ac.uk/id/eprint/1476900
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