ファイナンスと比較経済学の研究を転換させた論文 - himaginary’s diary

シカゴブース大学院のSteven Neil Kaplanとルイジ・ジンガレスが、同大学院の発行する「Capital Ideas」誌の春号に「How 'Law and Finance' transformed scholarship, debate」という記事を書いている（H/T Mostly Economics）。 以下はその冒頭部。 It has been 15 years since the publication of “Law and Finance,” the paper Robert W. Vishny, Myron S. Scholes Distinguished Service Professor of Finance, wrote alongside three collaborators who were all at Harvard at the time: Rafa

[maturi]

However, in many countries outside the US, the main problem was less about profligacy than about majority shareholders stealing from minority shareholders. That issue, which had been marginal in academic circles, became mainstream after Vishny and Shleifer’s contributions.

[gruza03]

米国以外の多くの国では、問題は浪費ではなく多数派株主による少数派株主からの搾取であった。