bluuebunny/crossref_metadata_2025_split huggingface dataset:
Corporate Deception and Fraud
Authors: Hearit Keith Michael 
Published: November 2023

Abstract
Few ideas are more remarkable than the collective historical amnesia that accompanies a bubble economy. Like the tulip bubble that created a highly speculative financial environment in the seventeenth century in Holland, or the go-go years of the late 1920s on Wall Street, the information technology bubble of the late 1990s brought about stupendously high valuations of companies that had little or no earnings, but because of a valuable Internet domain name such companies were expected to change the nature of commerce in the twenty-first century.
Greening of Corporations?
Authors: Livesey Sharon M , Graham Julie 
Published: November 2023

Abstract
A new form of corporate eco-communication emerged in the late 1980s and early 1990s, distinct from the crisis communication arising out of environmental disasters such as the poisonous gas leak at Union Carbide’s plant in Bhopal, India, or the nearly 11 million gallon oil spill of the Exxon Valdez in Alaska’s pristine Prince William Sound. Now companies found themselves responding to controversies caused not by their wrongdoing or negligence but by society’s changing expectations.
Discourses of Sustainability in Today’s Public Sphere
Authors: Peterson Tarla Rai , Norton Todd 
Published: November 2023

Abstract
At the risk of being essentialist, we ground this chapter in the claim that the tradition of identifying human society and the natural environment as mutually exclusive is the most fundamental challenge facing decision makers—indeed, any stakeholders—who seek sustainability (Agyeman, Bullard, & Evans, 2003; Busch, 1996; Latour, 2004; Leopold, 1949; World Commission on Environment and Development, 1987).
Private Profit, Public Risk: Institutional Antecedents of the Modern Military Procurement System in the Rearmament Program of 1940-41
Authors: Higgs Robert 
Published: November 2023

Abstract
After World War II, the United States did not fully demobilize its armed forces. It continued to maintain a military establishment that, by historical standards, can only be called immense. Keeping large numbers of men heavily armed with ever more sophisticated weapons has created a tremendous demand for munitions. Most of the munitions have been produced by privately owned corporations, many of which rely on the Pentagon for the bulk of their sales. The dealings between the armed forces and the major defense contractors form the heart of what is known as the military- industrial complex. This chapter deals primarily with one aspect of the military procurement program, namely, the arrangements by which economic risks are shifted from the private contractors to the government—that is, to the taxpayers— thereby allowing the companies to “function in a world of socialized risks and private profit” (Adams and Adams, 1972, p. 284). Also examined are two related matters: the high degree to which prime defense contracting is confined to a small fraternity of large companies, whose managers, along with their counterparts in the Department of Defense and the armed services, form a sort of “old boy network”; and how such concentration and the privileges associated with it make possible the realization of rates of return that are, given the low risk actually borne, exceptionally high. At issue here are the origins of these aspects of the modem military supply business.
Tax systems in crisis
Authors: Braithwaite John 
Published: November 2023

Abstract
This book attempts an empirical examination of how aggressive tax planning has been marketed in the United States and Australia during the past 30 years. My interest is also in going beyond the specificities of tax shelter marketing in these two nations at the turn of the century to learn something of the globalisation of the market for tax shelters. These markets are national, but they are just as importantly global and local (with New York very different from Peoria, Sydney from Kalgoorlie and indeed Melbourne). They are “glocal” as the globalisation theorists like to say. The story of post-1970 aggressive tax planning told in this book is one of the most important parts of the bigger story of why the super-rich are paying a lower (and declining) effective rate of income tax than the middle class, and why the situation is much worse than captured by the official figures. What Australians refer to as the market for aggressive tax planning, Americans refer to as the market for tax shelters. The Australian usage is more communicative of what is actually involved.
Comparing the drivers of and responses to aggressive tax planning in Australia and the US
Authors: Braithwaite John 
Published: November 2023

Abstract
Contagion is an important aspect of all four booms in aggressive tax planning considered in this book - the booms in the US and Australia of the late 1970s to early 1980s and of the late 1990s. The contagion is typically started by promoter entrepreneurship to seize structural opportunities, with a growing herd then following to take up those opportunities. The literature on contagion suggests that, at a private level, in a considerable variety of circumstances where one’s personal knowledge of a phenomenon is truncated, it can be rational to follow the herd (Bikhchandani and Sharma, 2000). Information can be too costly for investors who are not insiders, so an investor might benefit from looking at the market reaction to a tax scheme. With aggressive tax planning contagions, in those circumstances where there is economic rationality in following the herd, often the benefits are greatest for those who follow early, before ending the contagion becomes a policy priority. Contagion also becomes rational when the use of a tax arrangement becomes too big to stop. The losers then are those who fail to jump on an unstoppable bandwagon. A way of describing the history of the late 1990s Australian tax scheme boom is that the tax advice industry lived in fear of tough enforcement of Australia’s general anti-avoidance provision from the end of the aggressive tax boom in the early 1980s until more than a decade of failure to use it by the ATO and the courts led to doubts that it had teeth. Aggressive promoters of schemes first narrowcast their promotion to individual taxpayers with a taste for risk.
The Roll Model of Trade Prices
Authors: Hasbrouck Joel 
Published: November 2023

Abstract
In taking a microstructure perspective on security price dynamics, we shift focus from monthly or daily characteristics down to the features that come into play at horizons of a minute or second. Figure 3.1 illustrates this transition. For a randomly chosen stock (Premcor, symbol PCO, sub-sequently acquired), the figure depicts in panel A the sequence of actual trade prices over October 2003, then in panel B the prices on a particular day (October 30), and finally in panel C a particular hour on that day (11 A.M. to noon). In panel C, trade prices are augmented by plots of bid and ask quotes.
Univariate Time-Series Analysis
Authors: Hasbrouck Joel 
Published: November 2023

Abstract
The Roll model described in the last chapter is a simple structural model, with a clear mapping to parameters (the variance and autocovariance of price changes) that are easily estimated. There are many interesting questions, though, that go beyond parameter estimation. We might want to forecast prices beyond the end of our data sample or to identify the series of mt (the unobserved efficient prices) underlying our data. Fur-thermore, when we suspect that the structural model is misspecifled, we might prefer to make assumptions about the data, rather than about the model.
Order Flow and the Probability of Informed Trading
Authors: Hasbrouck Joel 
Published: November 2023

Abstract
Though the richest implications of the sequential trade models involve the joint dynamics of trades and prices, inference can also be based solely on the order arrival process. This chapter describes the procedure. First, to illustrate the general features of the problem, we examine the statistical properties of the numbers of buys and sells from the basic sequential trade model. We next turn to a more flexible model that allows for event uncertainty. The analysis is based on Easley, Kiefer, and O’Hara (1997) and Easley, Hvidkjaer, and O’Hara (2002).
Strategic Trade Models
Authors: Hasbrouck Joel 
Published: November 2023

Abstract
In the sequential trade framework, there are many informed agents, but each can trade only once and only if he or she is “drawn” as the arriving trader. Furthermore, if order size is a choice variable, the informed agent will always trade the largest quantity. The Kyle (1985) model, discussed in this chapter, differs in both respects. In the Kyle model, there is a single informed trader who behaves strategically. She sets her trade size taking into account the adverse price concession associated with larger quantities. Furthermore, she can, in the multiple-period version of the model, return to the market, spreading out her trades over time.
Dealers and Their Inventories
Authors: Hasbrouck Joel 
Published: November 2023

Abstract
Dealers, briefly discussed in section 2.3, are professional intermediaries. The descriptions of dealer behavior to this point have focused on their recovery of non informational operating costs (via c in the Roll model) and their pricing under asymmetric information. This chapter examines other aspects of the dealer’s role and behavior. The discussion first considers the inventory control models. These analyses (which generally predate the asymmetric information models) essentially view the securities dealer as being similar in key respects to a dealer in any other commodity. Normally a vendor maintains an inven-tory to accommodate randomly arriving purchasers.
Limit Order Markets
Authors: Hasbrouck Joel 
Published: November 2023

Abstract
The worldwide proliferation of limit order markets (LOMs) clearly estab-lishes a need for economic and statistical models of these mechanisms. This chapter discusses some approaches, but it should be admitted at the outset that no comprehensive and realistic models (either statistical or economic) exist. One might start with the view that a limit order, being a bid or offer, is simply a dealer quote by another name. The implication is that a limit order is exposed to asymmetric information risk and also must recover non informational costs of trade. This view supports the application of the economic and statistical models described earlier to LOM, hybrid, and other non dealer markets.
Inefficient Markets: The Third Theme
Authors: Shefrin Hersh 
Published: November 2023

Abstract
One of the most fiercely debated questions in finance is whether the market is efficient or inefficient. Remember the hedge fund Long Term Capital Management (LTCM)? How did it advertise itself to investors? LTCM members promoted their firm as an exploiter of pricing anomalies in global markets. In this regard, consider the following heated exchange between Myron Scholes, LTCM partner and Nobel laureate, and Andrew Chow, vice president in charge of derivatives for potential investor Conseco Capital. Chow is quoted as saying to Scholes, "I don't think there are that many pure anomalies that can occur"; to which Scholes responded: "As long as there continue to be people like you, we'll make money."
Biased Reactions to Earnings Announcements
Authors: Shefrin Hersh 
Published: November 2023

Abstract
Mispricing is complicated. Sometimes mispricing results in reversals, while at other times it results in momentum. Momentum and reversals coexist, despite lying at diametrically opposite ends of the spectrum. The academic scholars participating in the market efficiency debate have been grappling with what this coexistence means. Proponents of market efficiency view these phenomena as nothing more than random deviations from efficient prices. On the other hand, proponents of behavioral finance view them as systematic departures from efficient prices.
Retirement Saving: Myopia and Self-Control
Authors: Shefrin Hersh 
Published: November 2023

Abstract
What are the psychological phenomena in question? First comes myopia, leading to shortsightedness and low tolerance for risk. Low risk tolerance primarily stems from loss aversion. Next comes overconfidence: Investors seem pretty blase about having sufficient resources in place for retirement, despite the absence of clear retirement plans. Third, inadequate saving is essentially a self-control problem that occurs because the temptation to consume now is especially strong. Exercising self-control involves the cultivation of good habits, and good saving habits make good use of mental accounting. That is, good savings habits exploit frame dependence.
Closed-End Funds: What Drives Discounts?
Authors: Shefrin Hersh 
Published: November 2023

Abstract
The prices of closed-end funds present a puzzle for market efficiency. In a closed-end fund, the number of shares is fixed after the initial offering. Therefore, the only way investors can buy shares in the fund is to purchase them from some other investor. Open-end funds are different. In an open-end fund, the number of shares is not fixed, and investors purchase shares directly from the investment company running the fund. In this case, the investment company simply issues more shares to meet investor demand.
Corporate Takeovers and the Winner's Curse
Authors: Shefrin Hersh 
Published: November 2023

Abstract
Corporate executives suffer from "Lake Wobegon syndrome": Lake Wobegon is the mythical rural Minnesota community where all children are above average.1 Lake Wobegon syndrome pertains to hubris, overconfidence about ability. In chapter 4, I mentioned that most people rate themselves as above-average drivers. In this chapter, I dis cuss how overconfidence affects corporate decisions, mostly associated with mergers and acquisition.
Commodity Futures: Orange Juice and Sentiment
Authors: Shefrin Hersh 
Published: November 2023

Abstract
The frantic hand signals that commodity traders use in the trading pits suggests that prices are extremely volatile. Is this impression accurate? From the perspective of market efficiency, the question about volatility boils down to whether commodity prices overreact to the flow of new material information. From the outside, it is often difficult to judge how germane the flow of information actually is. However, in a very clever article, Richard Roll (1984) suggests that we can use one commodity market to evaluate those information flows. That commodity is orange juice concentrate, where the most relevant fundamental variables that change on a day-to-day basis are the weather around Orlando, Florida, and the supply of oranges from Brazil.
Gun Control and Public Policy
Authors: Tushnet Mark V 
Published: November 2023

Abstract
Gun-control and gun-rights advocates circulate dueling anecdotes to bolster their positions. Here are some, gathered from the websites of the National Rifle Association and the Brady Campaign to Prevent Gun Violence. Khalid Ali’s family moved from Najaf, Iraq, to get away from that nation’s violence. They relocated to Buffalo, New York, where Khalid made new friends. One, Norma Geil’s fifteen-year- old daughter (whose name was unpublished because she was a juvenile), invited the eighteen-year-old Khalid and about thirty other friends to a raucous birthday party on Saturday, February 11, 2006. There was a lot of drinking and marijuana smoking; four kids were asked to leave the party, and as they did six others followed them outside and robbed them. The party continued into Sunday afternoon. The few still there got hold of several weapons.
Slavery: From the Revolution to the Cotton Kingdom
Authors: Horton James Oliver , Horton Lois E 
Published: November 2023

Abstract
On the afternoon of March 5, 1770, forty-seven-year-old Crispus Attucks, a fugitive slave, was drinking in a Boston pub with some other sailors when a British soldier entered and asked about local employment. Perhaps the soldier was new to the city and unaware that tensions between local workers and the British soldiers had erupted into minor disturbances all winter. Surely he knew about the long-standing resentment American sailors had toward impressment, and he should have known that local sailors would resent the British soldiers who had come to enforce England’s Navigation Acts. These acts, with their limitations on American trade, had created hard times for the sailors gathered in the pub. To make matters worse, British soldiers often took part-time jobs to supplement their military pay at wages that undercut local workers and worsened the tight job market. When the soldier entered the pub that afternoon, he faced a hostile crowd. The patrons chased him out into the street with insults and angry exclamations about the kind of work he could do, one sailor suggesting the soldier might clean his outhouse.
Oliver Wendell
Authors: White G Edward 
Published: November 2023

Abstract
Known as the "Great Dissenter," Oliver Wendell Holmes, Jr. wrote some of the most eloquent opinions in the history of the United States Supreme Court. A brilliant legal mind who served on the high court into his nineties, Holmes was responsible for some of the most important judicial opinions of the twentieth century. Now, in this superb short biography, G. Edward White offers readers a lively, informative portrait of this singular individual. The book first sketches Holmes's early years--his childhood in Boston, his undergraduate years at Harvard (which his father and both grandfathers also attended), and his valiant service in the Civil War, during which he was severely wounded three times. After the war, Holmes went into private law practice, wrote his landmark treatise The Common Law in 1881, had a short tenure on the Harvard Law School faculty, and spent 20 years as a judge on the Supreme Judicial Court of Massachusetts before being named to the U.S. Supreme Court. The author focuses on his remarkable 30-year service as a Supreme Court Justice, beginning in 1902, and details Holmes's most significant cases--Abrams v. United States, Northern Securities Co. v. United States, Lochner v. New York, Schenck v. United States, and others--which limited working hours, set a mandatory minimum wage, protected women's rights, legalized labor unions, and defined freedom of speech. These decisions--as well as The Common Law--are highly regarded to this day. A new volume in the Lives and Legacy series, this marvelous short biography offers an ideal introduction to a towering figure in American law.
The Family Legacy
Authors: White G Edward 
Published: November 2023

Abstract
On the night of his ninetieth-birthday address, holmes invited a friend, Harold Laski, to listen to the broadcast at his home. The two had first met when Holmes was in his early seventies and Laski in his late twenties. Laski was a native of England and spent most of his career as a professor oflaw and government in British universities, but he corresponded very frequently with Holmes, and the two men valued each other’s friendship. In 1948, thirteen years after Holmes’s death, Laski told a story about the night he had listened to Holmes’s birthday address. “When the engineer had taken the radio apparatus away,” Laski said, Holmes returned to his favorite armchair by the fire.
Whitman and Church: Transcendent Optimism and the Democratic Self
Authors: Novak Barbara 
Published: November 2023

Abstract
The chief circumstance which has favored the establishment and the maintenance of a democratic republic in the United States is the nature of the territory that the Americans inhabit. Their ancestors gave them the love of equality and of freedom, but God himself gave them the means of remaining equal and free, by placing them upon a boundless continent. In the United States not only is legislation democratic, but Nature herself favors the cause of the people. The paradox of democratic idealism has been called insoluble, but that is only if one tries to open the knot and dissolve the contradiction. It is not so much a question of solving a paradox as of tolerating it. Or, as Whitman and Church have proved, of transcending it. But to speak in this instance of transcendence, and specifically of the transcendent national optimism—a complex sublimation involving idealism, denial, inspired obtuseness, a forward impetus, and a selective reading of the past—is to enter dangerous territory.
The Ratification Referendum
Authors: Levinson Sanford 
Published: November 2023

Abstract
The U.S. Constitution is radically defective in a number of important ways. Unfortunately, changing the Constitution is extremely difficult, for both political and constitutional reasons. But the difficulty of the task does not make it any less important that we first become aware of the magnitude of the deficiencies in the current Constitution and then turn our minds, as a community of concerned citizens, to figuring out potential solutions. This book is organized around the conceit that Americans in 2008 will have the opportunity to vote on the following proposal: “Shall Congress call a constitutional convention empowered to consider the adequacy of the Constitution and, if thought necessary, to draft a new constitution that, upon completion, will be submitted to the electorate for its approval or disapproval by majority vote? Unless and until a new constitution gains popular approval, the current Constitution will continue in place.”
Implementation of the European Takeover Directive in Belgium
Authors: Hooghten Paul Van 
Published: November 2023

Abstract
In Belgium, public takeovers and changes of control are regulated by the law of April 1, 2007, on public takeover bids, the Royal Decree of April 27, 2007, on public takeover bids and the Royal Decree of April 27, 2007, on public squeeze-out bids. The aforementioned Law and royal decrees entered into effect on September 1, 2007, and implement the Directive 2004/25/EC of the European Parliament and of the Council of April 21, 2004, on takeover bids.
Implementation of the European Takeover Directive in Denmark
Authors: Møgelmose Henrik , Kromann Moalem David , Deloitte Deloitte 
Published: November 2023

Abstract
The implementation of Directive 2004/25/EC of the European Parliament and of the Council of April 21, 2004, on takeover bids (the Takeover Directive or the Directive) in Denmark took place in two steps. The Directive was implemented in part by making amendments to the Danish Public Companies Act (aktieselskabsloven), the Danish Financial Statements Act (årsregnskabsloven) and the Danish Securities Trading Act (værdipapirhandelsloven), by Act no. 604 of June 24, 2005 and by the Danish Financial Supervisory Authority’s (FSA) issuance of an amended Executive Order on Takeover Bids no. 618 of June 23, 2005. About a year later, the Directive was finally implemented by issuing an amended Executive Order on Takeover Bids no. 416 of May 8, 2006, which included the remaining provisions of the Directive. Since the implementation, the Danish takeover regulation has been amended and the current regulation may now be found in the Danish Public Companies Act (consolidated Act no. 649 of 2006), the Danish Financial Statements Act (consolidated Act no. 376 of 2008), the Danish Securities Trading Act (consolidated Act no. 848 of 2008) and the Executive Order on Takeover bids (Executive Order no. 947 of 2008).
Implementation of the European Takeover Directive in Finland
Authors: Ilmonen Klaus 
Published: November 2023

Abstract
Finland implemented Directive 2004/25/EC of the European Parliament and of the Council of April 21, 2004 on takeover bids (the Takeover Directive or the Directive) as follows: The main legislative changes on public bids were completely revised in connection with implementing the Directive. Key provisions include:Mandatory bid thresholds at 30 percent and 50 percent of votes Board obligated to publish statement related to bids Regulation on pricing amended Takeover panel establishedThe general principles of Finnish company law generally satisfy the underlying principles of Article 9. The opt-out of Article 11 is accepted.