AsLEA – Asian Law & Economics Association

AsLEA Analytical Methods in Law and Economics #11

The Consequences of Increasing Private Enforcement Intensity in Weak Institutional Environment: A Quasi-Natural Experiment Study
Professor Wenming Xu, School of Law and Economics, China University of Political Science and Law
Registration URL: https://jp.surveymonkey.com/r/SJ8RKHX

Date: July 20, 2022 (Wed.)

Time:

1:00 p.m. Central European Summer Time (CEST)

4:30 p.m. New Delhi

6 p.m. Bangkok/Ho Chi Minh City/Jakarta

7 p.m. Beijing/Hong Kong/Kuala Lumpur/Singapore/Taipei

8 p.m. Seoul/Tokyo

9 p.m. Canberra

Outline

This presentation is about one recent working paper that examines the stock market reactions to the increase in the litigation risks against misrepresentation committed by Chinese listed companies. The intensity of private enforcement has been increasing post the newly revised Chinese Securities Law in December 2019. Both the law and following judicial rules issued by the Supreme People’s Court of China (SPC) improve the de jure private enforcement intensity. In addition, lower courts also make several prominent decisions awarding historical damages to the aggrieved investors, which significantly increases the de facto private enforcement intensity. These events are used as the sources of exogenous shocks to the private enforcement intensity. We use a straddle approach to perform causal inference, a sample of listed companies in the administrative sanction proceedings prior to the exogenous shocks, which should be trapped by the procedure and shall have the highest likelihood to be suited by the aggrieved investors, are used. The sample stocks only react significantly when the judgments are released but not the “on-the-book” laws change, which provides strong evidence supporting the “Enforcement Matters Hypothesis”. We also find that the magnitude of the increased costs is estimated to be positively correlated with the local judiciary quality estimated by the percentage of cases disclosed, which suggests that the market expects that listed companies in those regions with high-quality judiciary system will be liable to pay higher damages.

Speaker’s profile

Wenming Xu is associate professor and associate dean of School of Law and Economics at China University of Political Science and Law. He obtained his Ph.D. in Law and Economics from the Law Faculty at the University of Bologna. His main research interests include empirical legal studies, law and financial regulation, and corporate law and finance. Wenming has published more than 20 papers in both Chinese and international peer-reviewed journals, including International Review of Law and Economics, European Journal of Law and Economics, European Business Organization Law Review and Economics of Governance.

About the webinar series

In this webinar series, law and economics scholars will present their current research project and also guide the audience through the analytical techniques used in their research. The series aspires not only to be instructive for the entry-level researchers and graduate students, but also to be informative for more established scholars. The time duration is one hour, including a Q&A period.

AsLEA Analytical Methods in Law and Economics #10

Cooling Down Regulation: ISDS Challenges to Industry-Wide Regulation and Firm Value

Professor Weijia Rao, Antonin Scalia Law School, George Mason University

Registration URL: https://jp.surveymonkey.com/r/R9BXYTQ

Date: June 15, 2022 (Wed.)

Time:

1:00 p.m. Central European Summer Time (CEST)

4:30 p.m. New Delhi

6 p.m. Bangkok/Ho Chi Minh City/Jakarta

7 p.m. Beijing/Hong Kong/Kuala Lumpur/Singapore/Taipei

8 p.m. Seoul/Tokyo

9 p.m. Canberra
Outline

In this paper, we examine how investor-state dispute settlement (ISDS) affects the value of foreign and domestic corporate investments. An ISDS case is likely to affect the market value of the foreign firm(s) which brings the case. It is less obvious, however, how (or whether) ISDS cases affect the value of investment more broadly, i.e., for other firms operating in the sector where a case is filed. One possibility is that, by providing a mechanism to limit costly government regulation, ISDS increases the value of both foreign and domestic investment in the case’s sector. We employ an event study to explore the effect of ISDS cases on the value of firms with investments in the affected sector relative to firms in non-affected sectors. We find evidence suggesting that regulatory challenges in ISDS benefit not only the claimant investor, but also other firms which are similarly affected by the challenged regulation.

Speaker’s profile

Weijia Rao is an Assistant Professor of Law at Antonin Scalia Law School, George Mason University. Her research applies empirical methods to the study of international and comparative law, with a focus on legal institutions governing global trade and investment. Her recent scholarship has been published or is forthcoming in the Journal of Legal Studies, International Review of Law and Economics, Harvard International Law Journal, Yale Journal of International Law, and Chicago Journal of International Law. She received her LLB and BA in Economics from Tsinghua University, and her LLM and JSD from the University of Chicago.
About the webinar series
In this webinar series, law and economics scholars will present their current research project and also guide the audience through the analytical techniques used in their research. The series aspires not only to be instructive for the entry-level researchers and graduate students, but also to be informative for more established scholars. The time duration is one hour, including a Q&A period.

AsLEA Analytical Methods in Law and Economics #9

Cameras in the Courtroom: A Field Experiment in Real Trials
Professor John Zhuang Liu, University of Hong Kong

Registration URL: https://jp.surveymonkey.com/r/6QXFVFV

Date: May 18, 2022 (Wed.)

Time:

1:00 p.m. Central European Summer Time (CEST)

4:30 p.m. New Delhi

6 p.m. Bangkok/Ho Chi Minh City/Jakarta

7 p.m. Beijing/Hong Kong/Kuala Lumpur/Singapore/Taipei

8 p.m. Seoul/Tokyo

9 p.m. Canberra

.
Outline

We conduct an experiment in a real court to study the effects of cameras in the courtroom. Collaborating with a local court in China, we randomly assigned trials to be or not to be live broadcast in a four-week period (N = 85). We find that the rate of speech (average speaking speed) of parties is 18% slower in the presence of live broadcast, implying they are more cautious (or, perhaps, nervous) in the presence of cameras. Meanwhile, their speaking speeds do not become normal after the first several minutes, suggesting they do not neglect the presence of cameras as time passes. The speech rate of repeat players, i.e., lawyers and judges, is not influenced by live broadcast; nor do we find evidence that live broadcast affects court decisions. Taken together, our evidence suggests that cameras affect parties, not lawyers and judges; the effects of live broadcasts are nevertheless limited, and unlikely to result in unfair trials.

Speaker’s profile

John Zhuang Liu is an Associate Professor at the University of Hong Kong. His interests include the role of the courts and judicial behavior, as well as law and development. His work has appeared in a number of top-tier academic journals that specialize in law and in China studies, including Journal of Legal Studies, Journal of Legal Analysis, Journal of Empirical Legal Studies, American Journal of Comparative Law, Journal of Comparative Economics, China Quarterly, and Journal of Contemporary China. He is now developing a structural database of Chinese court decisions in contract cases and criminal cases, aiding scholars who seek to conduct empirical studies of the Chinese legal system. He received a Bachelor of Laws and a Ph.D. in Law from Peking University, as well as an LLM and a JSD from the University of Chicago.

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About the webinar series
In this webinar series, law and economics scholars will present their current research project and also guide the audience through the analytical techniques used in their research. The series aspires not only to be instructive for the entry-level researchers and graduate students, but also to be informative for more established scholars. The time duration is one hour, including a Q&A period.

Asian Law and Economics Association Webinar Series : Analytical Methods in Law and Economics #8

An Introduction to Empirical Legal Studies in Corporate Law

Professor Lauren Yu-Hsin Lin, City University of Hong KongRegistration URL: https://jp.surveymonkey.com/r/FMJJJYJ

Date: April 20, 2022 (Wed.)

Time:1:00 p.m. Central European Time (CET)4:30 p.m. New Delhi6 p.m. Bangkok/Ho Chi Minh City/Jakarta7 p.m. Beijing/Hong Kong/Kuala Lumpur/Singapore/Taipei8 p.m. Seoul/Tokyo9 p.m. Canberra

Outline

This webinar is intended for junior scholars who are interested in empirical legal studies in corporate law. In this lecture, I will first introduce the development of empirical corporate law studies in the U.S. I will analyze the impact of the seminal “law and finance” research by LLSV (La Porta, Lopez-de-Silanes, Shleifer, and Vishny) and the pioneering study on firm-level governance by GIM (Gompers, Ishii, and Metrick) on later corporate law research to understand the development path of empirical corporate law studies. Then I will use research studies on corporate governance as examples to discuss common research designs for empirical studies and causal inference, such as difference-in-differences, event study, regression discontinuity, and instrumental variable. After this webinar, participants will have a fundamental understanding of basic empirical research designs.

Speaker’s profile

Lauren Yu-Hsin Lin is an Associate Professor at City University of Hong Kong. Her research interests include corporate governance, corporate finance, capital markets, and securities regulation. She employs empirical methods to dissect and understand the effect of different governance rules and regulatory measures on corporations. Her research on Chinese corporations has generated policy impacts leading to rule changes and has been cited by the Delaware Court of Chancery, the U.S. Securities and Exchange Commission (SEC), and the U.S.-China Economic and Security Review Commission (USCC). Her works have appeared in several leading academic journals, such as the Journal of Legal Studies and the Journal of Empirical Legal Studies.

About the webinar series

Power and Position: Antitrust Analysis in the Age of Big Tech

Date: February 16, 2022 (Wed.)

Time: Please check your time zone.

noon Central European Time (CET)
4:30 p.m. New Delhi,
6 p.m. Bangkok/Ho Chi Minh City/Jakarta
7 p.m. Beijing/Hong Kong/Kuala Lumpur/Singapore/Taipei,
8 p.m. Seoul/Tokyo,
10 p.m. Canberra

Webinar Information:

Asian Law and Economics Association Webinar Series
Analytical Methods in Law and Economics #7

Power and Position: Antitrust Analysis in the Age of Big Tech
Professor Yong Lim, Seoul National University School of Law

[Outline]

Preventing arbitrary restraints of competition by dominant firms is a perennial task of competition law. Depending on the jurisdiction, the first step of analysis for such a task has traditionally involved the determination of either the existence of “monopoly power” or a “dominant position” on the part of the firm under investigation. Both requirements, while not identical, are said to lead to more or less similar outcomes, and the perception has been that other factors such as the weight given to economic analysis or even extra-competition considerations mostly explain the occasional divergence observed among jurisdictions. This paper argues that the questions of whether a firm has certain power or a position are in fact distinct, and can and have led to differences in the analytical process and outcomes. Recognizing this distinction has become ever more pertinent today, as legislators around the world debate whether designations such as a “gatekeeper” are warranted for the effective enforcement of competition law.

CALL FOR PAPERS

Asian Journal of Law and Economics (Special Issue)

Climate Change and Carbon Neutrality: Legal, Economic, and Regulatory Issues

DEADLINE: April 30, 2021

Asian Journal of Law and Economics (AJLE) invites submissions for an upcoming special issue, “Climate Change and Carbon Neutrality: Legal, Economic, and Regulatory Issues.” Accepted papers will be published in a special issue to be published in 2022. The special issue will be handled by the guest editor, Seung-Gyu Sim (Aoyama Gakuin University, Japan).

Please visit https://www.degruyter.com/view/j/ajle for more details.

Asian Law and Economics Association Webinar Series

Analytical Methods in Law and Economics #6

The World Is Not Flat: Platform Economy and Chinese Localism
Professor Bingwan Xiong, Renmin Law School

Registration
A simple registration from the URL below is required to receive the Zoom link to this session.
URL: https://jp.surveymonkey.com/r/BPM32J5

Date: January 19, 2022 (Wed.)
Time:
noon Central European Time (CET)
4:30 p.m. New Delhi,
6 p.m. Bangkok/Ho Chi Minh City/Jakarta
7 p.m. Beijing/Hong Kong/Kuala Lumpur/Singapore/Taipei,
8 p.m. Seoul/Tokyo,
10 p.m. Canberra

Outline

As a country with unitary political system, China implements an unified legal system, in which local regulatory regimes are supposed to be convergent to the extent that a differentiated approach to local management is only necessary for situations with exogenous factors. The emergence and wide application of platform technology are anticipated to bring about a further unifying force that reinforces an internal common market and uniform market rules. The online retailing market in China serves as a vivid example uprooting local protectionism and reshaping a flat world of commerce and legal rules. Nevertheless, the unitary political system and unifying force of platform technology have failed to help establish a uniform regulatory regime in Chinese e-hailing taxi industry. On the contrary, regulatory regimes across cities in China, running the gamut from the harshest to the laxest, have presented a strong localist orientation. More intriguingly, such divergence has lasted for years and is likely to linger into the future. Professor Xiong is going to explore the causes underlying the policy divergence among cities in China and to assess its implications for other jurisdictions around the world.
Bingwan Xiong is associate professor at Renmin Law School, where he teaches Contracts and E-commerce Law. He directs the Center of Platform Governance at Renmin University Institute of Law and Technology. Professor Xiong graduated from Renmin Law School (LL.B., LL.M., and Ph.D.) and Harvard Law School (LL.M.). He has published on a wide range of subjects about private law, law and technology in leading Chinese law journals and peer-reviewed English journals. He is co-editor of the English translation of Chinese Civil Code, which was published by Brill in 2021.

About the webinar series
In this webinar series, law and economics scholars will present their current research project and also guide the audience through the analytical techniques used in their research. The series aspires not only to be instructive for the entry-level researchers and graduate students, but also to be informative for more established scholars. The time duration is one hour, including a Q&A period.

Asian Law and Economics Association Conference 2021 (Online)

AsLEA 2021 cfp

Asian Law and Economics Association Conference 2021 (Online)

December 11, 2021

Announcement and Call for Papers

The 17th Annual Asian Law and Economics Association (AsLEA) Conference will be held on December 11, 2021 in online format and hosted by Peking University Law School. Those interested in presenting papers are invited to submit their drafts along with a short abstract by November 28, 2021.

We welcome submissions on topics in any areas of Law and Economics, although we encourage submissions dealing with questions that originate from Asia or are relevant to Asia today. Submissions on traditional areas of Law and Economics as well as on new topics are welcome, and we will consider both theoretical and empirical research.

Topics

We will consider any topics in or related to Law and Economics, including but not limited to the following:

Antitrust and Competition – Bankruptcy – Behavioral Law and Economics – Law and Economics of Artificial Intelligence and Big Data – Corporate Law and Corporate Governance – Contract Theory and Contract Law – Crimes and Criminal Law – Environmental Law and Economics – Family Law – Finance, Securities, and Capital Market Regulation – Health and Medical Law – Innovation – Intellectual Property – International Law and International Trade – Labor and Employment Law – Law and Development – Litigation, Dispute Resolution, and Legal Procedure – Mergers and Acquisitions – Political Economy and Public Choice – Privacy and Data Protection – Property Rights and Property Law – Public and Administrative Law – Regulation – Rule of Law and Legal Institutions – Social Welfare and Welfare Policy – Taxation – Tort Law

We also welcome topics related to other fields of Economics, Finance and Law.

Important Dates

Submission of abstracts and draft papers: By November 28, 2021

Invitation sent to confirmed presenters: By December 5, 2021

Invitation sent to other registered participants: By December 9, 2021

Guideline for Submission and Registration

Submissions should be sent, in PDF and/or MS Word format, to the following e-mail address: aslea2021@163.com.

Please include on the first page of your submission the following information: paper title, authors’ names and affiliations, and contact information including an email address for the corresponding author.

If you are interested in publishing your conference paper in the Asian Journal of Law and Economics, please indicate your interest when you make your initial submission.

If you are interested in registering as a non-presenting participant of the online conference, please send an email that includes your name, institutional affiliation, title/position at your institution, and institutional email address to aslea2021@163.com.

General Logistics for the Online Conference

The online conference will be held on the VooV meeting platform. Invited speakers and registered participants will receive additional instructions about downloading and using the free software to join in the conference sessions.

There are no submission or registration fees for the online conference.

Contact Information

Inquiries regarding the conference should be sent to the following e-mail address:

aslea2021@163.com.

Asian Law and Economics Association Webinar Series

Analytical Methods in Law and Economics #5

Scientific Methods for Legal Studies: Brain Science, Cognitive Science, and Field Experiment
Professor OTA Shozo, Meiji University School of Law

Outline

Traditional legal studies were not scientific enough in methodology. In order to provide appropriate solutions to social and economic issues, it is necessary to make legal methodologies more scientific and convincing. In this lecture, I will explain how to incorporate the latest methodologies of the other social and natural sciences into legal research, using the following examples: (1) an empirical study on the “lawyers’ quality of civil legal practice,” where more than 100 experienced lawyers cooperated in evaluating real court documents, (2) randomized controlled comparison of people’s attitude toward AI-Court, where internet surveys were conducted with experimental research design, and (3) a brain-scientific study on “legal mind” using fMRI on legal experts and laypersons with cooperation by neuro-politics, brain-science, socio-legal, and criminal law scholars.

Shozo Ota is a professor at Meiji University School of Law and an emeritus professor at the University of Tokyo. He is a pioneer in interdisciplinary legal research in Japan, and he worked with scientists in other fields, such as computer science, neuro-politics, and brain science, and served as the head of the Advanced Interdisciplinary Research Center at the University of Tokyo. His research interests include law and economics, law and society, and empirical legal studies, and he has published papers in internationally recognized journals. He has been a visiting professor or scholar at UC Berkeley, Columbia, and Michigan.

Asian Law and Economics Association Webinar Series

Analytical Methods in Law and Economics #4

Deploying Machine Learning Techniques for Legal Analysis

Professor Sangchul Park, Seoul National University School of Law

Summary

This lecture provides an overview of machine learning (ML) models, as compared to traditional economic models. Law and economics scholarship has applied econometric models for statistical inferences, but law as social engineering often requires forward-looking predictions rather than retrospective inferences. ML can be used as an alternative or supplementary tool to improve the accuracy of legal prediction by controlling out-of-sample variance along with in-sample bias and by fitting diverse models to data with non-linear or otherwise complex distribution. In addition, a recent progress in natural language processing (NLP) techniques has made it possible to build a powerful analytic model on complicated legal texts without line-by-line coding. This lecture discusses key ML/NLP techniques (such as algorithms, train-test split, regularization, and cross-validation), their application to legal analysis (including intellectual property, antitrust, criminal justice, and civil dispute resolution), and ongoing challenges and limitations.

Sangchul Park is an assistant professor at Seoul National University School of Law. He completed his JSD at the University of Chicago and his undergraduate studies at Seoul National University. His main research area is the application of machine learning to legal studies and the legal implications of AI-induced societal challenges. He is teaching, at the law school, artificial intelligence & law and information & telecommunications law, and at the engineering school, smart city policy. Prior to beginning his academic career, he spent more than 13 years in private practice specializing in technology, media, and telecommunications.

Asian Journal of Law and Economics

CALL FOR PAPERS

Special Issue

“Big Tech” Platforms:

Legal, Economic, and Regulatory Issues

DEADLINE: October 30, 2021

Asian Journal of Law and Economics (AJLE) invites submissions for an upcoming special issue “‘Big Tech’ Platforms: Legal, Economic, and Regulatory Issues.” Accepted papers will be published in a special issue to be published in 2022.

Topics that AJLE would consider include the following.

Defining characteristics of Big Tech businesses, which may or may not warrant special scrutiny;
Significance of artificial intelligence and other technological tools for Big Tech businesses;
Significance of data for Big Tech businesses;
Regulatory issues related to the platform business model;
Economic role of cloud computing for Big Tech businesses;
Regulatory issues related to trans-border data flows and storage;
Regulatory issues related to “gig-economy” workers, in particular, employment and labor law;
Regulatory issues related to technology companies’ data privacy;
Debates related to the claims of algorithmic transparency;
Newly emerging antitrust and competition law issues;
Policy issues between protecting incumbents’ interests and promoting disruptive innovations;
Regulatory competence: broad-based regulation vs. sector-specific regulation;
Institutional design and process of regulatory mechanisms involving Big Tech;
Challenges for regional and national Big Tech companies, in Asia and other parts of the worlds; and
Analyses of current statutory and regulatory proposals in Asia and around the world, such as the EU’s Digital Services Act (DSA), Digital Markets Act (DMA), Data Governance Act (DGA), Artificial Intelligence Act (AIA);

For more information, please refer to the full Call for Papers.

Asian Law and Economics Association Webinar Series
Analytical Methods in Law and Economics #3

A simple registration from the URL below is required to receive the Zoom link to this session.
URL: https://forms.gle/wDDe5WEWM3gErNH96

https://jp.surveymonkey.com/r/2P5Y2W8 (For those who cannot access the Google Form)

Date: Sep. 15, 2021 (Wed.)

Time:
4:30 p.m. New Delhi,
6 p.m. Bangkok/Ho Chi Minh City/Jakarta
7 p.m. Beijing/Hong Kong/Kuala Lumpur/Singapore/Taipei,
8 p.m. Seoul/Tokyo,
9 p.m. Canberra

An Introduction to the Concept of Efficiency in Law and Economics
Professor Yun-chien Chang, Research Professor & Director of Center for Empirical Legal Studies Institutum Iurisprudentiae, Academia Sinica, Taiwan.

Summary
This webinar is intended as a methodological primer for beginners in law and economics, but seasoned experts may also find the explanations novel. Efficiency, along with cost and benefit, is the most often used concept in law and economics. What does it mean? What are the relationships between Pareto, Kaldor-Hicks, allocative, and productive efficiency? Is efficiency coterminous with cost-benefit analysis? In different legal fields, such as contract, torts, (intellectual) property, civil procedure, business organization, etc., is efficiency operationalized in the same way? If willingness to pay is the part and parcel of efficiency analysis, how could legal scholars claim anything about efficiency without surveying everyone and asking them hypothetical questions (and assuming that people give honest and accurate answers!)? When and how should transaction cost be part of the analysis? This webinar will untangle these fundamental questions and give a step-by-step thinking module of how to conduct efficiency analysis.

Yun-chien Chang is a Research Professor at Institutum Iurisprudentiae, Academia Sinica, Taiwan and serves as the Director of its Empirical Legal Studies Center. He was or will be a visiting professor at Cornell, Columbia, NYU, Chicago, St. Gallen, Hebrew U of Jerusalem, Haifa and Rotterdam Institute of Law and Economics. His current academic interests focus on economic, empirical and comparative analysis of private law, as well as empirical studies of the judicial system. Prof. Chang has (co-)authored more than 100 journal articles and book chapters as well as 14 books.

About the webinar series
In this webinar series, law and economics scholars will present their current research project and also guide the audience through the analytical techniques used in their research. The series aspires not only to be instructive for the entry-level researchers and graduate students, but also to be informative for more established scholars. The time duration is one hour, including a Q&A period.

Asian Journal of Law and Economics

CALL FOR PAPERS

Special Issue

“Big Tech” Platforms:

Legal, Economic, and Regulatory Issues

DEADLINE: October 30, 2021

Topics that AJLE would consider include the following.

Defining characteristics of Big Tech businesses, which may or may not warrant special scrutiny;
Significance of artificial intelligence and other technological tools for Big Tech businesses;
Significance of data for Big Tech businesses;
Regulatory issues related to the platform business model;
Economic role of cloud computing for Big Tech businesses;
Regulatory issues related to trans-border data flows and storage;
Regulatory issues related to “gig-economy” workers, in particular, employment and labor law;
Regulatory issues related to technology companies’ data privacy;
Debates related to the claims of algorithmic transparency;
Newly emerging antitrust and competition law issues;
Policy issues between protecting incumbents’ interests and promoting disruptive innovations;
Regulatory competence: broad-based regulation vs. sector-specific regulation;
Institutional design and process of regulatory mechanisms involving Big Tech;
Challenges for regional and national Big Tech companies, in Asia and other parts of the worlds; and
Analyses of current statutory and regulatory proposals in Asia and around the world, such as the EU’s Digital Services Act (DSA), Digital Markets Act (DMA), Data Governance Act (DGA), Artificial Intelligence Act (AIA);

For more information, please refer to the full Call for Papers.

Asian Law and Economics Association Webinar Series
Analytical Methods in Law and Economics #2

A simple registration from the URL below is required to receive the Zoom link to this session. This is separate from registration to the July session or mailing list (Registration is required for each session).
URL: https://forms.gle/MzgQyYt1FL2C8jh1A

Date: Aug 18, 2021 (Wed.)
Time:
4:30 p.m. New Delhi,
6 p.m. Bangkok/Ho Chi Minh City/Jakarta
7 p.m. Beijing/Hong Kong/Kuala Lumpur/Singapore/Taipei,
8 p.m. Seoul/Tokyo,
9 p.m. Canberra

“Mandatory Bids in China: You Can Lead a Horse to Water, But You Can’t Make It Drink”
European Business Organization Law Review (2021) 22:351?394
Professor Wei Zhang, Singapore Management University Yong Pung How School of Law

Summary
The mandatory bid rule is prevalent across jurisdictions of both civil law and common law traditions. Yet empirical evidence about its functioning is rare. This paper studies mandatory bids in China against an institutional backdrop of restrictive IPO requisites. We find that virtually no shares held by external shareholders are tendered in mandatory bids for all the remaining shares. Mandatory bidders’ tactics to avoid tendering by public investors include pressing down their bid prices, and potential manipulation of target stock prices. In relation to economic impacts of mandatory bids, we document that market responds favourably to their announcements, and that targets’ operational performance improves in their wake, consistent with the theoretical prediction that mandatory bids induce efficient transfers of corporate control. Our research is among the earliest empirical works on the mandatory bid rule in a particular jurisdiction. It not only yields interesting results pertaining to the unique Chinese regulatory environment, but also generates useful insights about mandatory bids beyond China.

Zhang Wei is an Associate Professor and the Associate Dean of the Yong Pung How School of Law at the Singapore Management University. He received his basic law degree from Fudan University, his Masters in Laws degrees from Waseda University and Harvard Law School. He earned his Ph.D. in Jurisprudence and Social Policy from UC Berkeley. His main research areas include corporate and securities law, property law and Chinese law. He has published widely on these topics in both English and Chinese.

Tentative dates for 2021 are as follows:
Sep 15 // Oct 20 // Nov 17 (3rd Wednesday of every month).

Asian Law & Econ Association Webinar – Albert Choi

Asian Law and Economics Association is launching a webinar series! Please see below for details.

Asian Law and Economics Association Webinar Series

Analytical Methods in Law and Economics #1

Wed., July 21, 2021

4 pm New Delhi // 6 pm Bangkok

7 pm Beijing/Hong Kong/Kuala Lumpur/Singapore/Taipei

8 pm Seoul/Tokyo // 9 pm Canberra

“Initial Public Offering and Optimal Corporate Governance”

Professor Albert H. Choi, University of Michigan Law School

Summary

This project examines the long-standing debate over whether firms have a market-based incentive to adopt the optimal governance structure at the initial public offering (IPO). Various scholars and practitioners have argued that firms (with the founders) have an incentive to adopt the optimal corporate governance structure at the IPO, while others have empirically challenged such assertions. The project attempts to bridge this gap with the help of a simple game theory and examines the conditions under which firms may adopt suboptimal governance features at IPO.

Professor Choi received a J.D. from Yale Law School and a Ph.D. in economics from MIT. He is a Co-Editor of American Law and Economics Review. His research and teaching interests include corporate law, contract law, corporate finance, mergers and acquisitions, and law and economics. He has published numerous papers in leading journals, such as the Yale Law Journal, American Economic Review, Journal of Law and Economics, and Journal of Legal Studies.

Registration

If you would like to participate, please access the URL below and register. We will send a Zoom link to the registered email address.

URL: https://forms.gle/wDvoUw1G4SZfHZPFA

About the webinar series

Tentative dates for 2021 (to be finalized and announced separately) are as follows:

Aug 18 // Sep 15 // Oct 20 // Nov 17 (3rd Wednesday of every month).

flyer Choi Simple AsLEA

Dear members of the Law and Economics community in Asia and beyond,

I’m writing this post to deliver an excellent piece of news for the Asian Law and Economics Association as well as for the Law and Economics community in general. It has just been determined that the Asian Journal of Law and Economics will be listed on Scopus! It was made possible owing to the hard and diligent work of Professor Jeong-Yoo Kim, Editor-in-Chief. Kudos to Jeong-Yoo!! Set forth below is the message from the Scopus team. Please visit the Journal homepage and peruse what has been published. Please spread the news, and encourage submissions!

Journal URL: https://www.degruyter.com/journal/key/AJLE/html

Best regards,

Haksoo Ko

President, Asian Law and Economics Association

Professor, Seoul National University School of Law

____________________________________________________

Title: Asian Journal of Law and Economics
ISSN / E-ISSN: / 2154-4611
Publisher: Walter de Gruyter

Dear Prof. Jeong-Yoo Kim,

The title mentioned above has been evaluated for inclusion in Scopus by the Content Selection & Advisory Board (CSAB). The review of this title is now complete and the CSAB has advised that the title will be accepted for inclusion in Scopus. In general, all recently accepted titles will be listed separately in the Scopus Title list within 1 month after acceptance, see the second tab ‘Accepted titles’. If you can’t find your title there, please check the tab ‘Scopus sources’. Our Source Collection Management department will contact the publisher of this title within the next three months to initiate the indexing process for Scopus. A content coverage agreement needs to be in place before we can start adding the content to Scopus.com. If you are the publisher, please do not send us your content yet unless requested by our Source Collection Management department.the Yours sincerely,

Scopus Title Evaluation Support

16th Asian Law and Economics Association (AsLEA)

Online Conference 2020

(December 12 & 13, 2020)

Dear friends of law and economics,

Registration for the AsLEA 2020 online conference is now open at https://aslea2020.mmu.edu.my. Please register there in order to receive the instruction to access the live sessions using Zoom. The schedule for the conference is attached below. Please also share this news with your friends who may be interested. Thank you. (PROGRAM)

The organiser,

Dennis W. K. Khong

2020 AsLEA Conference

2020 Annual Conference of Asian Law and Economics Association (AsLEA) will be held as a virtual conference.

Call for Papers is available [here].

Important information:

– Conference dates: December 12 & 13, 2020

– Due date for submission: October 1, 2020

– Submission e-mail: wkkhong@staff.mmu.edu.my

– Organiser: Assoc. Prof. Dr. Dennis Khong, Faculty of Law, Multimedia University, Malaysia

Note from the Asian Journal of Law and Economics:

“If you are interested in publishing your conference paper in the Asian Journal of Law and Economics, please indicate your interest when you make your initial submission or send the full paper directly to Editor Jeong-Yoo Kim at jyookim@gmail.com. The Asian Journal of Law and Economics is considering issuing a special issue from the conference proceedings and will welcome submissions”

2020 Annual Conference – a Virtual Conference

2020 annual conference will be held as a virtual conference, on or around December 12, 2020. Our colleagues at Multimedia University, Malaysia (in particular, Professor Dennis Khong) will be hosting the conference. Call for Paper will soon be circulated.

Separately, Ocean University of China, in Qingdao, China, will host the annual conference in 2021. Ocean University of China was originally determined to host the 2020 conference but, in consideration of the circumstances owing to the Covid-19 pandemic, its role was postponed to 2021. Dates of the conference will later be determined and announced.

New Institutional Member

AsLEA welcomes a new institutional member! In July 2020, it was determined that University of Economics and Law (UEL) – Vietnam National University in Ho Chi Minh City, Vietnam, will join AsLEA. As an institutional member, UEL will actively participate in AsLEA’s activities and is expected to host AsLEA’s annual conference in 2023. Institutional membership is a new category of AsLEA’s membership, and a new institutional member is expected to participate in AsLEA’s activities in an active manner and to host an annual conference within a few years upon joining AsLEA.

Asian Journal of Law and Economics

CALL FOR PAPERS

Special Issue

Coping with COVID-19:

Legal, Economic, and Policy Perspectives

DEADLINE: October 15, 2020

Asian Journal of Law and Economics (AJLE) invites submissions for an upcoming special issue “Coping with COVID-19: Legal, Economic, and Policy Perspectives.” Accepted papers will be published in the December 2020 issue.

Topics that AJLE would consider include the following:

How to improve legal, economic and regulatory systems to prevent and control the spread of SARS-CoV-2 more effectively;
How to address legal and economic problems involving the use of digital tools for contact tracing, quarantine monitoring, transmission mapping, computational modeling, and other public health activities;
How to deal with privacy, liberty, ethics, and other human rights challenges when tracing contacts, releasing patients’ demographic information, implementing social distancing, mounting aggressive measures such as lockdown or roadblock, or engaging in other public health activities;
How to allocate vaccines, personal protective equipment, and other medical resources, internationally and domestically;
How to deal with trade-offs among various legal, economic, public health, and ethical values;
How to incorporate fairness considerations in dealing with COVID-19;
How to (re)structure public health systems in order to deal with COVID-19;
How to address disparities in testing, treatment, and fatality for populations at risk; and
How to address the digital divide (the disparity of access to information devices necessary for distance learning, telework, and e-commerce).

For more details, please refer to the Call for Papers, in the pdf format.

2020 AsLEA Conference Postponed!

Due to concerns in relation to the ongoing global spread of Covid-19, the AsLEA board has decided to postpone the AsLEA Conference 2020 originally scheduled to be held on June 19 and 20 in Qingdao, China. The board and the host institution will, at a later and practicable time, decide upon and announce a new date for the conference.

We appreciate your continued interest in participating in the conference. Please kindly note that the previously announced submission deadlines are no longer in effect. During the period before new deadlines are announced together with the new conference dates, the organizers will continue to welcome and receive submissions of absracts and drafts sent to the conference email address at aslea2020@vip.163.com