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Shareholder, Creditor and Worker Protection: Time Series Evidence about the Differences between French, German, Idian, UK and US Law

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  • Mathias Siems

Abstract

This paper uses a new quantitative methodology ("numerical comparative law", "leximetrics") in order to answer the questions whether there has been convergence, divergence or persistence of legal rules, and how this relates to the Common Law/Civil Law distinction. It is based on indices for shareholder, creditor, and worker protection which code the legal development of France, Germany, India, the UK and the US from 1970 to 2005. The main result is that one has to distinguish between different areas of law: the laws have converged in shareholder protection, they have diverged in worker protection and in creditor protection converging and diverging trends even out. These results do not depend on the the distinction between Civil Law and Common Law countries because there have been a number of instances where countries of different legal families have converged and countries of the same legal family have diverged.

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File URL: http://www.cbr.cam.ac.uk/pdf/WP381.pdf
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Bibliographic Info

Paper provided by ESRC Centre for Business Research in its series ESRC Centre for Business Research - Working Papers with number wp381.

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Date of creation: Mar 2009
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Handle: RePEc:cbr:cbrwps:wp381

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Web page: http://www.cbr.cam.ac.uk/

Related research

Keywords: shareholder protection; creditor protection; worker protection; comparative law; legal convergence; numerical comparative law; leximetrics;

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  1. Simon DEAKIN & Priya LELE & Mathias SIEMS, 2007. "The evolution of labour law: Calibrating and comparing regulatory regimes," International Labour Review, International Labour Organization, vol. 146(3-4), pages 133-162, 09.
  2. Simon Deakin, 2006. "Legal diversity and regulatory competition: which model for Europe?," ESRC Centre for Business Research - Working Papers wp323, ESRC Centre for Business Research.
  3. Simon Deakin & Prabirjit Sarkar, 2008. "Assessing the Long-Run Economic Impact of Labour Law Systems: A Theoretical Reappraisal and Analysis of New Time Series Data," WEF Working Papers 0043, ESRC World Economy and Finance Research Programme, Birkbeck, University of London.
  4. Klaus Heine & Wolfgang Kerber, 2002. "European Corporate Laws, Regulatory Competition and Path Dependence," European Journal of Law and Economics, Springer, vol. 13(1), pages 47-71, January.
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