Eva micheler ssrn. In this theory the company is a legal entity allowing an organization to act autonomously in law, and company law establishes procedures facilitating autonomous organizational decision-making. Mar 11, 2010 · II. 23, 2014), http://ssrn. Eva Micheler: 1 Following, 25 Research papers. Professor Micheler is also on the management committee of the Systemic Risk Centre at LSE. In particular tax relief for pension investments deprives pension investors from an incentive to monitor investment and demand stewardship activity by their […] Eva Micheler 10mo Paul Miller 76 1 Comment SSRN 5mo #research #internationallaw #environmentallaw #Indigenouslaw http://spkl. Micheler, Eva, Separate Legal Personality – An Explanation and a Defence (June 26, 2024), LSE Legal Studies Working Paper No 12/2024. cfm?abstract_id=2786972 Status quo Computerisation lead to intermediation 1 A Real Entity Theory of Company Law Eva Micheler (LSE Law) – (forthcoming OUP) 2 1. View Eva Micheler’s Professor Eva Micheler studied law at the University of Vienna and at the University of Oxford before joining LSE Law School in 2001. Eva Micheler Eva Micheler is a Professor of Law at the London School of Economics and studied law at the University of Vienna and Oxford. 2413025) This paper shows that the current market infrastructure systemically prevents investors, both shareholders and bondholders, from exercising their rights against issuers. They interpreted the memorandum and the articles of association of the company concerned. ssrn Dec 18, 2020 · This week, Mirit Eyal-Cohen (Alabama) reviews Bridget J. Find Eva Micheler's email address, contact information, LinkedIn, Twitter, other social media and more. Allard School of Law at UBC ABA Eva Micheler, Custody Chains and Remoteness - Disconnecting Investors from Issuers 2 (Mar. The document outlines various topics related to Fintech regulation, including the impact of equal treatment regulations on competition, the effectiveness of India's Fintech regulations, and the concept of a regulatory sandbox for startups. Typically this did not II. I am going to advance the thesis that this infrastructure is the product of market failure. cfm?abstract_id=3783696 The Legal Nature of Securities Inspirations from Comparative Law EVA MICHELER∗ I. Equity and debt securities are now normally held through a chain of custodians. Micheler, Eva (2014) Intermediated securities and legal certainty. Allen, Simon Gleeson, Peter Hunn and Eva Micheler eds, Oxford University Press, Forthcoming, 2026) ; Singapore Management University School of Law Research Paper Forthcoming Eva Micheler London School of Economics and Political Science and University of Economics in Vienna 14/2018 Regulatory Technology: Replacing Law with Computer Code by Eva Micheler and Anna Whaley 15/2018 The Foundations of Anglo-American Corporate Fiduciary Law by David Kershaw Eva Micheler and Anna Whaley* Abstract: Recently both the Bank of England and the Financial Conduct Authority have carried out experiments using new digital technology for regulatory purposes. The recommendation is that investors should receive full disclosure of the custody and sub-custody arrangements associated with their investments. INTRODUCTION Great conference today organised by the European Company and Financial Law Review DISGUISED DISGUISED DISGUISED RETURNS RETURNS RETURNS OFOFOF CAPITAL CAPITAL CAPITAL --- ANANAN ARM'S ARM'S ARM'S LENGTH LENGTH LENGTH APPROACH APPROACH APPROACH Eva Eva Eva Micheler* Micheler* Micheler* Eva Micheler has posted Custody Chains and Remoteness - Disconnecting Investors from Issuers on SSRN with the following abstract: The article shows that the current market infrastructure Dec 31, 2009 · Disguised returns of capital - an arm's length approach Eva Micheler 31 December 2009 Cambridge University Press for the Faculty of Law, University of Cambridge DOI: 10. The theory builds on the insight that organisations or firms are a social phenomenon outside of the law and that these are autonomous actors in their own right. This market failure has resulted in investors/issuers paying too high a price for the services underpinning securities markets. org Save Jan 1, 2021 · Request PDF | On Jan 1, 2021, Eva Micheler published Company Law - A Real Entity Theory | Find, read and cite all the research you need on ResearchGate Mar 3, 2020 · Micheler, Eva and von der Heyde, Luke (2016) Holding, clearing and settling securities through blockchain/distributed ledger technology: creating an efficient system by empowering investors. Eva Micheler studied law at the University of Vienna and at the University of Oxford before joining 番茄社区 Law School in 2001. She was a TMR fellow at the Faculty of Law of the University of Oxford and teaches regularly at the Feb 4, 2022 · This book advances a real entity theory of company law, in which the company is a legal entity which acts autonomously in law, and company law establishes procedures facilitating autonomous organisational decision-making. Investors nowadays hold securities through chains of custodians and are exposed to risk of any of these failing. doc / . 1080/14735970. Social Science Electronic Publishing • SSRN Electronic Journal • 2022 Volume/Issue not available SID: sKrWnoPE 10. "Regulatory Technology – Replacing Law with Computer Code. ssrn. Systemic Risk Centre, The London School of Economics and Political Science, London, UK. 2139/ssrn. Professor of Law at LSE Law School and a ausserordentlicher Universitätsprofessor at the University of Economics in Vienna. Separate legal personality an explanation and a defence Eva Micheler London School of Economics Law School, London, UK Jun 28, 2024 · The article further suggests that we do not need a principle of corporate ‘disregard’ but should continue on the path of developing context specific rules addressing questions arising out of corporate abuses. DIGITISING THE UK SECURITIES MARKET: THE CASE AGAINST AND A PROPOSAL TO ENFRANCHISE INDIRECT INVESTORS - Volume 83 Issue 3 Dec 27, 2023 · The author would like to thank Professor Eva Micheler and Dr. 21 Eva Micheler, 'Separate legal personality – an explanation and a defence', (2024) 24 Journal of Corporate Law Studies 301. This problem is not remedied by Geneva Securities Convention (‘the Convention’ or ‘GSC’). 2365170 Jul 17, 2024 · Additional information Notes on contributors Eva Micheler Eva Micheler is a professor at the LSE Law School and a co-investigator at the LSE Systemic Risk Centre. com/abstract=2413025 (“Securities are a bundle of rights that investor have against issuers. Typically this did not 📣 I am pleased to announce that my article entitled ‘Separate Legal Personality - an Explanation and a Defence’ has just come out in open access with the Journal of Corporate Law Studies Eva Micheler To cite this article: Eva Micheler (17 Jul 2024): Separate legal personality – an explanation and a defence, Journal of Corporate Law Studies, DOI: 10. Jul 17, 2024 · Additional information Notes on contributors Eva Micheler Eva Micheler is a professor at the LSE Law School and a co-investigator at the LSE Systemic Risk Centre. Jan 1, 2022 · January 2022 SSRN Electronic Journal DOI: 10. It argues that the current model makes transactions safe by next to eliminating counter-party risk. 4012659 Eva Micheler Unknown Institution Cite Share Find Similar Publisher Articles by Eva Micheler on Muck Rack. Dr Elena Zaccaria and I will present work in progress funded by the British Academy. Eva Micheler, Department of Law and Systemic Risk Centre, London School of Economics and Political Science Anna Whaley, Department of Law and Systemic Risk Centre, London School of Economics and Political Science treet London WC2A 2A May 26, 2017 · Read papers and watch videos from the Law and Financial Markets Project conference on blockchain (or distributed ledger) technology. OMG351 - Free download as Word Doc (. 11 JIBFL 631. com/sol3/papers. At the same time, and counter-intuitively so, securities are increasingly held indirectly through chains of custodians that operate between issuers and investors. Big shout out for the University of Haifa’s conference on Financial Regulation in the Digital Era: https://lnkd. pdf), Text File (. Gerzog (Baltimore), Tax Benefits, Higher Education and Race: A Gift Tax Proposal for Direct Tuition Payments (Dec. Systemic Risk Centre Discussion Papers (14). 4 Foundations of real entity theory 1 Introduction This book advances a real entity theory of company law. Special emphasis is placed on contemporary developments, but the journal's range includ Holding, clearing and settling securities through blockchain technology Creating an efficient system by empowering asset owners Available from http://papers. The regulatory framework does not September 2009 The Cambridge Law Journal DOI: 10. docx), PDF File (. Expand View on SSRN doi. She is a Professor of Law at the London School of Economics. David Gindis for their invitation to participate in this special issue, as well as JCLS editors Professor Luca Enriques and Professor Felix Steffek, and the anonymous JCLS reviewers for their comments. Thank you Moran Ofir and Nizan Browse our Policy Briefing Papers, which provide concise legal insights on issues of contemporary public interest. Paterson, Sarah (2016) The paradox of alignment: agency problems and debt Jan 1, 2019 · January 2019 SSRN Electronic Journal DOI: 10. ac. Company Law - A Real Entity Theory by Eva Micheler :: SSRN https://papers. Her most recent book is entitled ‘Company Law – A Real Entity Theory’. Eva Micheler studied law at the University of Vienna and at the University of Oxford before joining LSE Law School in 2001. Historically, the corporation was a critical vehicle for capital-intensive production; it shielded investors from liability and committing their capital to the firm for the long term. 3219991 Authors: Eva Micheler The London School of Economics and Political Science AMiner,AMiner开放数据平台，数亿科技数据构建百亿级知识库；全球学者库；学术问答；AMiner学术； (DOI: 10. Custody chains May 13, 2025 · 3 See also David Gindis and Eva Micheler, ‘Institutional Theory for Corporate Law – An Invitation’ (2024) 24 Journal of Corporate Law Studies 399. She is also on the management committee of the Systemic Risk Centre at LSE. Courts decided whether a particular transaction was within the objects and powers of a company. Journal of Corporate Law Studies. , Cambridge University Press, forthcoming)) on SSRN. 1313144 Authors: Eva Micheler The London School of Economics and Political Science Jan 1, 2018 · Request PDF | On Jan 1, 2018, Eva Micheler published Intermediated Securities from the Perspective of Investors - Quick Fixes and Long-term Solutions | Find, read and cite all the research you DOI: 10. Law Society and Economy Working Paper Series. For example, Eva Micheler’s recent Company Law: A Real Entity Theory93 combined insights from institutional theory94 with an updated version of real entity theory95to argue that organisations are auton-omous and ‘real in their consequences’,96 before showing how this idea sits with company law. " Social Science Research Network (2014) MLA Harvard CSL-JSON BibTeX Number of pages: 30 Posted 27 May 2025 Daniela Gandorfer Eva Micheler University of Westminster - School of Law and London School of Economics - Law School Downloads 159 I have just uploaded a working paper on the legal nature of the corporate constitution onto SSRN. in/eFbGWHcM. 2139/SSRN. The theory builds on the insight that organizations or firms are a social phenomenon outside of the law and that they are autonomous Follow Eva Micheler and explore their bibliography from Amazon's Eva Micheler Author Page. Mar 1, 2010 · Disguised returns of capital - an arm's length approach Authors: Eva Micheler Sections Export Citations Favourite Eva Micheler. May 7, 2013 · Intermed iated Securities and Legal Certainty Eva Micheler LSE Law, Society and Economy Working Papers 3/2014 London School of Economics and Political Science Law Department Book Review: Company Law: A Real Entity Theory by Eva Micheler Singapore Journal of Legal Studies, Sep 2023, pp 501-506 under The London School of Economics and Political Science (LSE) 's Legal Studies Working Paper series and intended to be included in Eva Micheler and Kevin Werbach ' s "Foundations of On 15 June 2020, Eva Micheler (LSE Law), Jon Danielsson (LSE Finance) and Jean-Pierre Zigrand (LSE Finance) organised a conference at the Systemic Risk Centre at the London School of Economics entitled ‘Sustainability and Systemic Risk’. Research interests: Historical Studies, Political Science, and Philosophy. " Social Science Research Network (2018) MLA Harvard CSL-JSON BibTeX Globalisation has significant effect on the way business is done in most countries. The document aims to argue that securities are best classified as circulating rights that are different The Cambridge Law Journal publishes articles on all aspects of law. Globalisation has not only affected the markets for goods and services, but also financial markets. May 31, 2017 · Authors Robert Macrae Eva Micheler Jon Danielsson With less than two years until Britain leaves the EU, the implications of Brexit for financial stability are of some concern. Speaker: Katharina Pistor (Columbia University) Chair: Eva Micheler (SRC/LSE) Conventional accounts treat the firm as a site of production and surplus creation. In this article, the authors assess the benefits of blockchain/distributed ledger technology for the holding, clearing and settlement of securities currently held in intermediated holding James Toomey, Personhood as Participation, (in Legal Personhood in Private Law (Cambridge University Press, Christopher Essert, Eva Micheler & Paul B. Eva Micheler is Reader in Law at the Law Department and Research Associate at the Systemic Risk Centre, London School of Economics and Political Science Big shout out for the University of Haifa’s conference on Financial Regulation in the Digital Era: https://lnkd. com/abstract=1481427 The Legal Nature of Securities Inspirations from Comparative Law EVA MICHELER ∗ I. This new way of designing public law is in line with the The University of Auckland Faculty of Law Research Paper Series 2025; Victoria Barnes, Jonathan Hardman, Eva Micheler, Sally Wheeler (eds) Woke capitalism, CSR and ESG (forthcoming, Edinburgh University Press) Eva Micheler has posted Intermediated Securities and Legal Certainty on SSRN with the following abstract: This contribution shows that holding securities through chains of intermediaries Oct 1, 2009 · Electronic copy available at: http://ssrn. ); Philipp Paech, Integrating Global Blockchain Securities Settlement with Law and Regulation−Policy Considerations and International Principles, SOCIAL SCIENCE RESEARCH NETWORK 1 (June 11, 2016), https://papers. In this article, the authors assess the benefits of blockchain/distributed ledger technology for the holding, clearing and settlement of securities currently held in intermediated holding May 23, 2025 · Eva Micheler studied law at the University of Vienna and at the University of Oxford before joining LSE Law School in 2001. Companies seek Eva Micheler and Anna Whaley This research has been funded by the UK Engineering and Physical Sciences Research Council. The author would also like to thank Giulio Cimini for excellent research assistance. She specialises in corporate law, securities law and technology. in/ej3dDnQN I have just spoken on a panel on the regulation of the custody of digital assets. 19 Ibid 15. This disconnects investors from issuers and can significantly reduce the value of assets. Join us if you are free and near LSE. One school of thought Jan 1, 2018 · January 2018 SSRN Electronic Journal DOI: 10. The government is subsidising this Jan 31, 2022 · The aim of this contribution is to examine the connection between investor capitalism and sustainable business. The document discusses the legal nature of securities and whether they should be classified as property or obligations. The LSE Law, Society and Economy Legal Studies Working Paper Series, published by the LSE Law School, focuses on interdisciplinary legal scholarship in all subject areas from members of the LSE Law School, doctoral students and visiting scholars. txt) or read online for free. cfm?abstract_id=2786972 Eva Micheler and Luke von der Heyde Aug 24, 2015 · Computerisation facilitates instantaneous and direct links between all of us in our work and social lives. Jan 1, 2021 · Authors: Dionysia Katelouzou King's College London Eva Micheler The London School of Economics and Political Science Dr E Micheler Custody chains Investor Custodian 1 Custodian 2 Custodian 3 CSD Issuer 21 Eva Micheler, Custody Chains and Asset Values: Why Crypto-securities are Worth Contemplating, 74 C. . J. Crawford (Pace) and Wendy C. 20 Eva Micheler, Company Law – A Real Entity Theory (OUP 2021). (2025)). She writes on corporate law and on the law of securities and digital assets. Users may download and/or print one copy to facilitate their private study or for non-commercial research. ©Eva Micheler and Anna Whaley. In this paper I am going to develop explanations for the distinctive characteristics of the infrastructure underpinning securities markets. ”). These custodians are connected with each other through contract law. They are more The paper analyses the current system of holding and transferring securities. It analyzes rules from English law on this issue and references theories from German and Austrian law that classify securities as their own distinct category of assets. Oct 21, 2021 · Abstract This book advances a real entity theory of company law. 3471081 Authors: Eva Micheler The London School of Economics and Political Science Jan 1, 2020 · Authors: Dionysia Katelouzou King's College London Eva Micheler The London School of Economics and Political Science Jan 1, 2021 · Download Citation | On Jan 1, 2021, Sean Lyons published Value Preservation Increasingly Acknowledged as Primary Purpose and Fiduciary Duty | Find, read and cite all the research you need on Mar 27, 2017 · Micheler, above fn 3 pages 509-511 and Eva Micheler and Luke von der Heyde, 'Holding, clearing and settling securities through blockchain/distributed ledger technology: creating an efficient The Legal Nature of Securities Inspirations from Comparative Law EVA MICHELER∗ I. This is done at the price of exposing the holding of securities to custody risk. ISSN 1473-5970 Jan 1, 2017 · Request PDF | On Jan 1, 2017, Eva Micheler published Explaining the Infrastructure Underpinning Securities Markets Market Failure and the Role of Technology | Find, read and cite all the research Apr 30, 2012 · April 2012 European Business Organization Law Review 14 (01) DOI: 10. The paper will appear on SSRN soon. 505, 532 (2015) (Eng. Miller, eds. Eva Micheler, Johannes Jiang Published in Social Science Research…22 July 2019 Political Science, Computer Science, Economics TLDR This contribution will identify eight policy recommendations that should underpin the development of RegTech, the technology to facilitate the delivery of regulatory requirements. L. The idea is to replace rules written in natural legal language with computer code and to use artificial intelligence for regulatory purposes. In this article, the authors assess the benefits of blockchain/distributed ledger technology for the holding, clearing and settlement of securities currently held in intermediated holding structures and consider the steps needed to facilitate an Professor of Law at LSE Law School and a ausserordentlicher Universitätsprofessor at the University of Economics in Vienna. io/6040fpvG2 #LawTwitter Peter A. 4012659 Authors: Eva Micheler The London School of Economics and Political Science Eva Micheler and Anna Whaley* Abstract: Recently both the Bank of England and the Financial Conduct Authority have carried out experiments using new digital technology for regulatory purposes. Thank you Moran Ofir and Nizan Abstract: The paper analyses the current system of holding and transferring securities. The papers are published electronically and are available online or through email distribution. Investor capitalism, thereby, refers to all types of investors and their direct or indirect Blockchain securities -Much ado about nothing? Eva Micheler Available from http://papers. INTRODUCTION English legal scholarship has seen a debate on the nature of securities. Eva Micheler, Department of Law and Systemic Risk Centre, London School of Economics and Political Science Anna Whaley, Department of Law and Systemic Risk Centre, London School of Economics and Political Science treet London WC2A 2A Eva Micheler, Anna Whaley. LSE webapge. There also exists legislation determining the Much looking forward to this event tomorrow: https://lnkd. In the paper I argue that the corporate constitution is not a contract but a statutory instrument Separate legal personality an explanation and a defence Eva Micheler London School of Economics Law School, London, UK The Treatment of Digital Assets in Insolvency Oxford Handbook of Digital Assets and the Law (Jason G. It also discusses compliance plans for Fintech For example, Eva Micheler’s recent Company Law: A Real Entity Theory93 combined insights from institutional theory94 with an updated version of real entity theory95to argue that organisations are auton-omous and ‘real in their consequences’,96 before showing how this idea sits with company law. 18 Ibid 14. 2020): Amid recent nationwide protests and public condemnation of systemic racism, Americans are divided on whether this focus on the Nov 4, 2019 · By Eva Micheler (London School of Economics – Law Department) The article interrogates the idea of creating a market for stewardship and identifies obstacles that stand in the way of such a market. Users may not engage in further distribution of this material or use it for any profit-making activities or any other form of commercial gain. 2024. "Custody Chains and Remoteness - Disconnecting Investors from Issuers. This new way of designing public law is in line with the Intermediated Securities and Legal Certainty Eva Micheler * Abstract: This contribution shows that holding securities through chains of intermediaries compromises the ability of investors to exercise their rights. May 23, 2025 · Decentralized Organizations: The Theory of the Firm and Ostromian Perspectives Daniela Gandorfer University of Westminster - School of Law Eva Micheler London School of Economics Series number: 846/2025 Aug 28, 2025 · Marc O. The need to compete on an international level causes companies to adjust their business practice to whatever they believe to be the most promising strategy for succeeding in a global world economy. We view investor capitalism broadly as encompassing not only institutional investors dominating corporate governance – as Useem’s book famously promulgated 1 – but also retail investors. 2046125 Authors: Eva Micheler The London School of Economics and Political Science May 26, 2017 · Read papers and watch videos from the Law and Financial Markets Project conference on blockchain (or distributed ledger) technology. In this article, the authors assess the benefits of blockchain/distributed ledger technology for the holding, clearing and settlement of securities currently held in intermediated holding Eva Micheler studied law at the University of Vienna and at the University of Oxford before joining LSE Law School in 2001. 3164258 Corpus ID: 219359486 Regulatory Technology Eva Micheler, Anna Whaley Published 17 April 2018 Computer Science, Business, Law Monetary Economics: International Financial Flows TLDR Jan 1, 2018 · Request PDF | On Jan 1, 2018, Eva Micheler and others published Regulatory Technology | Find, read and cite all the research you need on ResearchGate Michael Scargill A&O Shearman 3w Thanks very much David Gindis and Eva Micheler for writing this paper and making it available for all of us practicising corporate lawyers who from time to time Eva Micheler and Anna Whaley This research has been funded by the UK Engineering and Physical Sciences Research Council. This new way of designing public law is in line with the Website. The theory Jun 6, 2024 · Micheler, Eva (2024) Separate legal personality: an explanation and a defence. Eva Micheler and Anna Whaley* Abstract: Recently both the Bank of England and the Financial Conduct Authority have carried out experiments using new digital technology for regulatory purposes. DeGirolami (Catholic University of America (CUA) - Columbus School of Law) has posted Person, Religion, and the Problem of Legal Essences (in Legal Personhood in Private Law (Christopher Essert, Eva Micheler, and Paul Miller, eds. Two key central bankers have reached opposites conclusions, with Mark Carney worried and Mario Draghi more sanguine. In this theory the company is a legal entity allowing an organisation to act autonomously in law and company law establishes procedures facilitating autonomous organisational decision-making. Eva Micheler Lse Verified email at lse. Now is the time to look at this topic in depth with the EU, the UK and also the SEC having just published proposals about the regulation of custody. 1017/S000819731000022X Eva Micheler * Abstract: This contribution shows that holding securities through chains of intermediaries compromises the ability of investors to exercise their rights. About me Eva Micheler studied law at the University of Vienna and at the University of Oxford before joining 911吃瓜Law School in 2001. Micheler, Eva (2014) Custody chains and remoteness: disconnecting investors from issuers. One school of thought Eva Micheler studied law at the University of Vienna and at the University of Oxford before joining LSE Law School in 2001. Disguised returns of capital and the ultra vires doctrine Transactions involving disguised returns of capital to shareholders were traditionally regulated by the ultra vires doctrine. Journal of International Banking & Financial Law, 31 (11). uk - Homepage corporate law corporate governance · Experience: The London School of Economics and Political Science (LSE) · Education: University of Oxford · Location: Greater London · 500+ connections on LinkedIn. qx aucb 3tkgni ojtyoh nrpqdz eiwre uwmoa hrok7 tjfc cvqty7