cssi/SciSciGPT-SciSciNet huggingface dataset:
Political Institutions and Property Rights: Veto Players and Foreign Exchange Commitments in 127 Countries:

What political institutions improve property rights? Building on the work of North and Weingast, this article argues that institutional checks on policy-making discretion (“veto players”) improve the property rights of investors regarding the value of the domestic currency. Veto players constrain the ability of policy makers to opportunistically pursue policy that may lead to a depreciated domestic currency. The study offers some of the first large-sample evidence that check and balance institutions lower the risk of expropriation, using a direct measure of investors’ revealed preferences as the dependent variable. In particular, evidence from 127 countries over the period 1975-2004 shows that the use of foreign currency as a store of value— a common hedge against domestic currency depreciation—decreases with the number of veto players in government. The findings are robust to multiple specifications, including instrumental variable models that exploit exogenous sources of institutional variation.
State Labs of Federalism and Law Enforcement "Drone" Use

Table of ContentsI. Introduction 1390II. Unmanned Aerial Systems 1399III. Why UAS are not "Drones" 1402IV. The Fourth Amendment 1403V. Manned Aircraft Surveillance 1404A. California v. Ciraolo 1405B. Florida v. Riley 1407C. Dow Chemical Co. v. United States 1410VI. Applying the Surveillance Trilogy to UAS 1413A. Technology Cases 14141. Kyllo u. United States 14142. United States v. Jones 1417B. Applying the Technology Cases to UAS 1421VII. State Experiments 1424A. What They Do and What They Do Not Do 1424B. Definitions 1424C. Limitations 1425D. A Single Courageous State? 1428VIII. Conclusion 1430I. IntroductionBy early 2015, fourteen U.S. states had enacted laws that circumscribe law enforcement use of unmanned aerial systems (UAS), otherwise known as drones.2 The legislation runs the gamut of permissive to restrictive and even utilizes different terms for the same object of regulation, UAS.3 These laws are the confused and, at times, even contradictory, extension of societal views, perhaps most succinctly exemplified in early 2013.In February 2013, the Federal Aviation Administration (FAA) released a list of eighty-one entities that had applied for a license to operate UAS within the United States.4 The list included some thirty-six colleges and universities, a Native American tribal agency, and state and federal governmental entities, notably a number of police and sheriffs offices.5In March 2013, a social experiment proved anecdotally revealing on what the public then thought (and perhaps still thinks) about UAS.6 The designer labeled the exercise "Let's Check the Google Autofill."7 She typed "drones are" in the Google search engine and then screen captured the results.8 Google displayed the most common searches that began with "Drones are."9 The results in order of the frequency of the search term, were that drones are: "good," "bad," "illegal," "effective," "the future," "coming," "unethical," "inaccurate," and finally, "scary."10Those results convey mixed, but tending towards negative, views of UAS. And presumably for some, possibly many, the term is inextricably linked to the military UAS operating from the United States and firing missiles in other countries against suspected terrorists.11 This varied and situational attitude towards UAS was also reflected in a March 2013 Gallup poll in which 65% of the respondents thought the U.S. government should utilize armed UAS against a suspected terrorist in another country, but only 25% approved of that same use when the same suspected terrorist was in the United States.12Yet it is abundantly clear that UAS are coming to the United States, though they likely will not be armed, at least with the ability to deliver lethal force.13 Frankly, they are not only already here-they have been here. Between 2007 and early 2013, the FAA issued over 1,400 permits to domestic UAS operators.14 By 2018, the FAA estimates that as many as 7,500 commercial UAS will be operating within the United States.15The FAA has proposed a framework of regulations to achieve the "safe integration of public, commercial and civil UAS" in domestic air space. …
Purpose vs. Power: Parens Patriae and Agency Self-Interest

Agencies that exist to serve also seek to exist. The purpose of state human service agencies to serve vulnerable populations such as abused and neglected children derives from the common law doctrine of parens patriae, embodying the inherent role of the state as parent of the country. The doctrine provides the foundation for the very existence of agencies that serve vulnerable children and underlies the core purpose of the agencies to promote and protect children’s welfare and best interests.
Defining Sex: On Marriage, Family, and Good Public Policy

This article addresses interstate recognition of families where one of the adults in the marital relatonship is transgendered. While most states have made clear the conditions under which birth certificates can be changed, they are much less clear about how local marriage laws apply when one of the parties is trangendered. Current law in many states simply must be changed, either because it does not take into account the actual lives of the transgendered or because it is indeterminate.
Constitutionalism with Chinese characteristics? Constitutional development and civil litigation in China

For decades, the Chinese Constitution has been thought to lie outside judicial purview, as its basic rights provisions have been more or less ignored. For that reason, many outside observers have assumed that constitutional development in China is at a standstill. Nonetheless, in recent years, a number of Chinese lawyers, academics, and activists — pushing for a more active judicial role — have been challenging standard assumptions about the Chinese Constitution. Taking antidiscrimination litigation as a key example, this article describes the impetus inside China for constitutional development and delineates the state’s response. While state actors often ignore constitutional claims publicly, they may still respond to the underlying substantive issues raised by would-be reformers. The author argues that, although such efforts have had limited impact on the formal constitutional structure, nevertheless, they have had a positive effect on the public’s rights consciousness.
The Complaint Conundrum: Thoughts on the CFPB's Complaint Mechanism

The law requires the Consumer Financial Protection Bureau (CFPB) to collect, monitor, and respond to consumer complaints regarding consumer financial products or services. This Article explores these duties. Its premise is that the CFPB’s complaint mechanism, even if carefully designed and heavily resourced, is unlikely to improve the overall level of consumer protection. While taking complaints will aid the CFPB in some of its duties, it also could erode some aspects of consumer protection. Those counterintuitive possibilities bring into sharper relief the issue of whether it is appropriate to task administrative agencies with resolving consumer complaints. What is the purpose of making the government—other than the court system—address complaints with nongovernment actors? The Article considers this fundamental question in the context of the CFPB, identifying theoretical and practical issues raised by the CFPB’s strategies to date for handling consumer complaints. * * *
3D Printing: Cultural Property as Intellectual Property

Long before the onset of the now-emblematic quarrel between England and Greece over the Parthenon marbles, nations and tribes have squabbled over the extraterritorial transfer of objects of purported cultural significance. Over the past few decades, however, there has been a dramatic increase in the number of cultural property repatriation claims, mostly targeting U.S. collections. The value of cultural artifacts is generated largely by the intellectual expression they manifest. Digital technologies make increasingly possible the creation of reproductions of even three-dimensional artifacts, which are indistinguishable from the originals. This development challenges our attributing value to the “aura” of the original renderings of tangible cultural artifacts. Stripped of their auras, the worth of these objects devolves to the sum of the value of the physical materials deployed in their creation, and that ascribed to the perceptible intellectual expression they contain. If we were to perceive cultural artifacts fundamentally as works of information rather than of tangible property, the location of the original instantiations of them would be of little significance. Three-dimensional technologies might soon permit source nations to retain the essential intellectual value of cultural artifacts found within their borders, while simultaneously capitalizing upon sales of the originals to collectors who will pay for their “aura.”
Are Gain and Loss Respectable

Properly defined, gain and loss are intuitive reward-risk concepts that have broad ramifications in finance. The authors use gain and loss to explain diversification and asset pricing. Their approach allows the effect of unmatched gains and losses to drive the benefit of diversification. The market portfolio is seen as having the highest gain-loss ratio of all assets.
Constitutional Preambles as Narratives of Peoplehood

Most constitutions start with a preamble. A constitutional preamble is a text designed to introduce the constitution and at times to give a concise statement of the nature of the system that the constitution is supposed to capture. While they may differ in style and length, most preambles seem to serve two primary functions. First, preambles declare or identify the source of authority for the document. In most preambles it is “we the people” that is invoked as the legitimate source of authority. Second, most preambles engage in an explicit attempt to project an identity for “we the people,” how “we the people” came to be. “We the people” is at times defined through an extended historical biography. At other times, it is the presumed common ethnic origin or religious membership that are said to establish the bond, whether the people is territorially bound or not. Still at other times, it is existence of common political and moral principles that are thought to be the core constitutive elements of who the people are. Whatever the strategy, preambles attempt to imagine a usable political identity for the people, its collective agency. The “people” are viewed with sufficient agency capable of “ordaining” or “granting” the constitutional document to themselves. Of course, in many cases “we the people” is the very creation of the document itself. Thus, the “people” is simultaneously the author and product of the constitution. In this sense, preambles are performative in nature: they constitute the people as they even declare that the people are their authors. Through a close study of the constitutional preambles of all countries currently in existence, the article explores how preambles construct a politically serviceable identity of the people that is supposed to be the legitimate source of authority for the document even when the source appears to be the creation of the entity that is being invoked as a legitimate source. The formal legal status of preambles might be uncertain (whether they can or should be cited by decision-makers in the process of making binding decisions), but what is not in doubt (and what has largely been neglected) is the fact that preambles are means through which a people is said to imagine and solidify its identity. As Benedict Anderson long ago explained, an imagined identity is neither true nor false. It simply is. The article explores the processes by which this imagining takes place and the purpose for which it is adopted.
Shareholder passivity: a viable explanation for corporate governance failures at NewsCorp?

Why would shareholders remain passive despite economic incentives to address corporate governance failings at the company level? In crafting a response to this question, our article addresses contemporary debates on the monitoring role of investors in ensuring the companies they own maximize shareholder value and adhere to high standards of corporate governance. Although rich, the existing literature primarily addresses the normative issue of whether shareholders should take on oversight functions, rather than factors that may induce or inhibit oversight. Responding to this gap in the literature, we examine shareholder passivity through a qualitative case analysis of the behaviour of NewsCorp investors. We argue that the corporate governance failures at NewsCorp resulted not just from absent internal controls at the Board level, but also from the failure of available external governance mechanisms. Our findings show that agency-level, structural and cultural barriers stymied the efforts of activist invest...
Degradation, accreditation, and rites of passage.

(1979). Degradation, Accreditation, and Rites of Passage. Psychiatry: Vol. 42, No. 2, pp. 138-146.
Conjectures regarding empirical managerial accounting research

Abstract The empirical managerial accounting literature has failed to produce a substantive cumulative body of knowledge. This literature has not matured beyond describing practice to developing and testing theories explaining observed practice, like other areas of accounting research. While the lack of publicly available data is a popular reason for this literature's underdeveloped state, it is not the only one. Other conjectures include: its inductive approach, researchers’ incentives, its use of non-economics-based frameworks, the lack of empirically testable theories, and its emphasis on decision making, not control.
Firm- and country-level determinants of corporate leverage: Some new international evidence

Abstract This research analyzes the determinants of capital structure across 37 countries. Institutional arrangements matter for capital structure decisions; however, firm-level covariates drive two-thirds of the variation in capital structure across countries, while the country-level covariates explain the remaining one-third. The observed relationships between the country-level determinants and leverage provide strong support to the predictions of both the trade-off and the pecking-order theories. Country-level determinants serve as substitute mechanisms for the firm-level, industry-level, and macroeconomic determinants by moderating their marginal impact on leverage.
Radner’s cost–benefit analysis in the small: An equivalence result

I show that local changes in five welfare measures are equal: a measure proposed by Radner (1993); consumers’ surplus; the Slutsky change in real wealth; the Divisia quantity index, and Debreu’s (1951) coefficient of resource utilization (the last two rescaled in units of a numeraire good).
Trade Interference or Good Environmental Stewardship: The Case of Gibson Guitar and the Lacey Act

The Gibson Guitar Corporation based in Tennessee was raided by federal agents twice for importing prohibited wood products. The raids, especially the second, attracted much public attention and had even led for calls from some members of Congress for a change. The case examines the Lacey Act, the allegations of wrong doing, and the question of trade and domestic job creation at the expense of environmental stewardship.
Off his rocker: sports discipline and labor arbitration

In this article, the author analyzes the labor arbitration of Atlanta Braves pitcher John Rocker whose interview in Sports Illustrated had caused quite a stir in Major League baseball. Rocker had expressed his personal distain for all minorities and “unusual” people who might ride the number 7 subway train to Shea Stadium in New York City. The Commissioner’s suspension of Rocker was substantially modified by the permanent arbitrator and Professor Abrams explains the basis for the award and how it fits into the established jurisprudence under collective bargaining agreements.
The Limits of Judicial Control and the Nondelegation Doctrine

The nondelegation doctrine has been fought over for decades, yet scholars have not examined a foundational question: can judicial doctrine materially shape legislative drafting practices? Even if a strong nondelegation doctrine provides legislators an incentive to draft narrow statutes, they would have many reasons to persist in broad delegations, and it is not clear whether the doctrinal incentives predominate. Here, I examine the relationship between the nondelegation doctrine and lawmaking behavior at the state level using several novel datasets, including a collection of state session laws between 1990 and 2010, and a comprehensive survey of state nondelegation judicial decisions over the last 20 years. Contrary to the common assumption, I find that the robustness of the nondelegation doctrine appears essentially unrelated to legislative drafting practices. This pattern suggests the limited extent to which judicial doctrine can control legislative practices; it also suggests a revived nondelegation doctrine at the federal level is unlikely to effectuate the hopes of proponents or the fears of opponents.
Placemaking in the Academic Law Library

Public and university libraries have embraced placemaking theories to develop user-centric library spaces. Placemaking has largely been overlooked in the context of academic law libraries. This article explores the range of space planning choices available to law libraries as they downsize their print collections. The benefits of reimaging law library space using placemaking concepts are explained.
Recategorization into the In-group: The Appointment of Demographically Different New Directors and Their Subsequent Positions on Corporate Boards

This study advances a recategorization perspective to explain how an increasing number of directors have successfully obtained major board appointments and played important roles on boards despite their demographic differences from incumbent directors. We theorize and show that existing directors tend to select a demographically different new director who can be recategorized as an in-group member based on his or her similarities to them on other shared demographic characteristics. We further explain how a new director's prior social ties to existing directors strengthen this recategorization process and posit that recategorization increases demographically different directors' tenures and likelihood of becoming board committee members and chairs. Results from analyses of Fortune 500 boards from 1994 to 2006 provide strong support for our theory. This study suggests that increased board diversity on some demographic characteristics is associated with reduced diversity on others. It also suggests that some demographic characteristics, such as gender and ethnicity, would be more salient during the recategorization process than other characteristics. As a result, female and ethnic minority directors would need to be more similar to incumbents along shared dimensions than other demographically different directors (such as a young director) for them to be recategorized into the in-group.
On economic growth and investment income taxation in a creative region

Abstract We study economic growth and investment income taxation in a region that is creative in the sense of Richard Florida. Specifically, this region possesses both creative and physical capital. Of the two sectors in this region, one produces final consumption goods and the other produces investment or physical capital goods. Our analysis of the working of this creative region leads to three results. First, we derive an analytic expression that links the growth rate of the relative price of physical capital goods to the growth rate of physical capital in the consumption goods sector. Second, we highlight the connection between the growth rates of consumption and that of physical capital in the consumption goods sector. Finally, we analyze the effect that the taxation of investment income has on the equilibrium growth rate of consumption in our creative region.
Denial and Concealment of Unwanted Pregnancy: A Film Hollywood Dared Not Do

The actual cases and two films examined in this essay challenge stock narratives of mothers who deny or conceal unwanted pregnancy as a monster, or a victim, and also challenge "legal norms, logic and structures" pertaining to unwanted pregnancy and neonaticide. This essay draws on films because of their influential power to "reach enormous audiences by combining narratives and appealing characters with visual imagery and technological achievement, ... stir deep emotions and leave deep impressions." For these reasons, Orit Kamir asserts that films are more compelling than "theoretical legal texts or even judicial rhetoric." The two films examined -- Stephanie Daley and Just Another Girl on the I.R.T. -- challenge social and legal norms, and provide insight into "society's dominant cultural formations" and the way "society narrates and creates itself," specifically with respect to unwanted pregnancy. Neither film offers an upbeat representation such as that found in Juno, in which a teenager accepts her pregnancy and makes an adoption plan. Instead, both Stephanie Daley and Just Another Girl on the LR.T. depict the more harrowing narrative of teenagers who do not accept pregnancy, but conceal or deny it, and then abandon or kill the newborn. These films dramatize stories Hollywood "dare[s] not to do." Hilary Brougher explained that in writing Stephanie Daley she wanted to ''open up events that we are accustomed to dealing with in the media in an emotionally charged yet superficial way -- and rather than delivering a verdict about it, open up the gray areas for discussion." Why do these girls kill newborns? Why didn't anyone realize they were pregnant? How should they be punished? This essay examines these questions through the lens of Kamir's three critical perspectives: cinematic parallels, cinematic judgments, and cinematic jurisprudence. Kamir first points out that films may parallel culture and the legal system. These cinematic parallels "reflect and refract the fundamental values, images, notions of identity, lifestyles and crises of their societies and cultures." Second, films may judge or invite judgment. Cinematic judgments include ways in which films "actively perform[] judgment and engag[e] viewers in cinematic judging acts." Finally, films may "elicit popular jurisprudence" into many different issues, including "women's roles as mothers."
You Don’t Have to be a Structuralist to Hate the Supreme Court’s Dignitary Harm Election Law Cases

This brief essay responds to an article by Professor James A. Gardner, The Dignity of Voters - A Dissent, appearing in a symposium in the University of Miami Law Review. Gardner offers a sustained critique of a line of Supreme Court election law cases recognizing “dignitary rights” of voters, including Shaw v. Reno, recognizing the “unconstitutional racial gerrymander,” Bush v. Gore, recognizing the right to have one’s vote counted in a recount according to uniform voting procedures; and Purcell v. Gonzales, a voter identification case in which the Court recognized a right of voters not to have their votes “canceled out” by voter fraud (or their “feelings” hurt by such fraud).I make two points. First, Gardner mistakenly explains the dignitary rights cases as the Supreme Court embracing the “individual” rights side in the “rights-structure” debate among election law scholars. Instead, these developments show the Court embracing a misguided structural approach to election law cases (albeit clothed in the language of rights). Shaw reined in what the Court majority viewed as an out-of-control Justice Department overly interfering with state prerogatives in redistricting; Bush reined in what the Court majority viewed as an out-of-control Florida Supreme Court overly interfering with administrative recount procedures in the highly-charged context of a presidential election recount. Purcell reined in civil rights plaintiffs interfering with state administrative prerogatives in setting forth the rules for conducting elections. In each of these cases, voter “rights” are merely a stand-in for structural concerns of the Court.Second, using the individual rights approach, these cases were incorrectly decided. Under the individual rights approach, the Court should protect only “core” equality rights that affect the real allocation of political power among political equals in a democracy. In Shaw, the Court incorrectly protected voter rights in the districting process that had no potential to affect political power relationships. In Bush and Purcell, the Court failed to recognize rights on both sides of the case, and that the rights of voters on what turned out to be the losing side easily trumped rights on the winning side of the case. Thus, Gardner’s conclusion that these cases were wrongly decided is absolutely correct, even using an individual rights framework to reach this result. The Court should continue to focus on rights in its election law jurisprudence, but not on inchoate “dignitary” rights that fail to affect the allocation of political power.
How Incomplete Information of Team Member Contributions Affects Subsequent Contributions: The Moderating Role of Social Value Orientation

We examine the effect that feedback of team member contributions to team production has on individuals’ subsequent contributions to team production, specifically for self-regarding individuals (proselfs). Prior literature outlines the adverse effects of free riding, a behavior in which self-regarding individuals often engage. We evaluate how proselfs respond differentially to the type of feedback about team member contributions; input (i.e., time contributed) compared to output (i.e., production units contributed), and whether feedback type can mitigate free riding. We predict that when proselfs view low team member contributions, they will respond more negatively following input feedback than output feedback. Input feedback can provide a stronger signal of effort choice, so low input feedback will be interpreted as intentional. Further, we predict that proselfs’ positive responses will be lower following input feedback, as proselfs are more likely to interpret input feedback in a self-serving manner, which tempers their positive responses. We provide experimental evidence that following input feedback, proselfs respond more negatively to low team contributions and less positively to high team contributions. These responses to input feedback adversely affect team performance. Our findings outline that providing output feedback has the potential to mitigate proselfs’ free riding.
Disney in a Comparative Light

This paper uses a comparison of the recent Delaware Supreme Court decision in the Disney litigation and the recent German Federal Supreme Court decision in the Mannesmann case as a launching point to explore six important differences between Delaware and German corporate law. In Disney, the Delaware courts exonerated directors of The Walt Disney Company from liability for damages - despite the directors having paid Michael Ovitz around $130 million in exchange for having spent a year accomplishing little as the number two executive at Disney. By contrast, in Mannesmann, the German Federal Supreme Court held that directors of the German company, Mannesmann AG, criminally breached their duty to the company when they awarded a bonus of approximately $17 million to the outgoing CEO - whose actions apparently played an important role in gaining over $50 billion for the Mannesmann shareholders. This contrast illustrates the different degree to which Delaware and German courts defer to the business judgment of corporate directors; specifically, German courts seem more willing to second guess directors than are Delaware courts. Compounding this difference, German law is more suspicious of the ability of so-called disinterested directors to protect the corporation in dealing with other directors than is Delaware law. A difference in the composition of the Disney and Mannesmann boards arose out of the German law that mandates employee representation on the board (so-called co-determination). The facts of the Mannesmann case provide an opportunity to address the impact of employee representation when it comes to board decisions dealing with executive compensation. More broadly, comparing Mannesmann with Disney illustrates very different legal and societal attitudes toward compensation of senior executives in Germany versus the United States. These cases also demonstrate the far lesser ability of shareholders to waive fiduciary obligations under German law than under Delaware law. Finally, the fact that Mannesmann was a criminal prosecution, while Disney was a shareholder derivative action, illustrates the potential unintended impact of various procedural rules that make shareholder suits less viable in Germany than in Delaware.
Educating at the Crossroads: Parents Involved, No Child Left Behind and School Choice

In Parents Involved in Community Schools v. Seattle School District No. 1 (Parents Involved)1, the Supreme Court invalidated two voluntary integration plans. Democratically elected school boards in Seattle, Washington and Louisville, Kentucky conceived these plans with the goals of reaping the educational benefits that derive from racially diverse schools, ending racial isolation in the schools, and improving student achievement.2 Some of the most important lingering questions after Parents Involved surround the new limitations placed on local school districts by the case and how school districts will achieve their goal of offering quality education to all children in the face of the Supreme Court’s restrictions. Parents Involved adds to the layers of regulations already impacting public school policymakers. Since the early 1990s, there has been the emergence of New Accountability reforms—states adopting statewide grade level standards, yearly testing, and accountability measures.3 Then, in 2002, the United States Congress added to the already existing state accountability regime through the passage of No Child Left Behind (NCLB).4 NCLB requires that each state have an accountability regime, with grade level standards, yearly assessments, and sanctions for schools that fail to make
Genetics, family structure, and economic growth

Recent biomedical research shows that roughly three-quarters of cognitive abilities are attributable to genetics and family environment. This paper presents a growth model that characterizes the role of the intergenerational transmission of genes and the effect of family environment on growth trajectories. If the average human or physical capital stocks are sufficiently low, the model shows that the economy will be caught in a poverty trap. Conversely, countries with more resources will converge to a bala nced growth path where the average rate of genetic transmission of skills from parents to children determines the long-run rate of output growth. Increased genetic diversity (or income inequality) is shown to raise the fertility rate and reduce output growth in the transitional dynamics. Thus, nature and nurture are able to explain a variety of countries' growth experiences.
Wage Structures in the Transition of the Czech Economy

From the perspective of market economies, central planning produced distinct distortions in the wage structures of socialist countries. This paper examines the extent to which wage structures in the state and private sectors have adjusted to remove such distortions during the economic transition, using micro data from the Czech Republic. There is strong evidence that Czech wage structures are moving toward patterns observed in market economies, and the change is being led by developments in the private sector. At the same time, the establishment of collective bargaining does not appear to be introducing countervailing distortions into Czech wage structures.
Expressive Association and the Ideal of the University in the Solomon Amendment Litigation

In this article, Professors Wolff and Koppelman offer a critical analysis of the free speech claims that were asserted by the law schools and law faculty that sought to challenge the Solomon Amendment. Solomon is a federal statute that requires law schools to grant full and equal access to military recruiters during the student interview season. The military discriminates against gay men and lesbians under its “Don’t Ask, Don’t Tell” policy, and the law professors claimed a right to exclude the military under the First Amendment doctrine of “expressive association,” arguing that the presence of discriminatory recruiters would interfere with the ability of faculty to express their own message of inclusion toward their gay students. Those claims were ultimately rejected by the Supreme Court in Rumsfeld v. FAIR. Wolff and Koppelman argue that the law professors' litigation efforts, though well intentioned, were deeply misguided, seeking to extend a recent and aberrational decision in the law of expressive association to unsustainable lengths and, in the process, offering a characterization of the manner in which faculty engage in their own expression that is inconsistent with the ideals that should govern institutions of higher learning.
Accelerated Vesting in Takeovers: The Impact on Shareholder Wealth

We study the impact of accelerated vesting of equity awards on takeovers, whereby the restricted stock and/or stock options of the target chief executive officer (CEO) immediately vest and become unrestricted upon the close of the acquisition. We find that takeover premiums are significantly larger when the target CEO receives the benefit of accelerated vesting as compared to target firms with CEO's that continue to vest in their awards after closing the deal. Our evidence suggests that these cash windfalls triggered by accelerated vesting are beneficial to shareholders in completed deals. Accelerated vesting appears to be an efficient form of ex ante managerial contracting.
Ethical Territoriality and the Rights of Immigrants

In this essay Bosniak discusses the normative idea of ethical territoriality: the conviction that a person's physical presence within the territory of a state should be the basis for extending important rights and recognition. Bosniak examines commitment to ethical territoriality that is often found in legal and political thought. Why should the simple fact of the person's presence in a state's territory serve to ground rights and recognition there, and are the implications of thinking in such a manner? The essay specifically deals with the ethical territory argument in relation to irregular immigrants who are within the territory of a state without formal permission. According to the author, territoriality is still a dominant idea, but becomes in practice less justifiable.
"THE WISDOM WE HAVE LOST": SENTENCING INFORMATION AND ITS USES

* Professor of Law, Emory University School of Law; Ralph W. Bilby Visiting Professor, Rogers College of Law, University of Arizona. ** Professor of Law, Wake Forest University School of Law. We would like to thank Doug Berman, Steve Chanenson, and Michael Kang for insightful comments, and Emmet Ong and Helen Jugovic for research assistance. 1. T.S. Eliot, Choruses from "The Rock" (1934), reprinted in T.S. Eliot, Collected Poems 1909-1962, at 148-49 (1963). 2. 28 U.S.C. § 991(b)(l)(C) (2005).
Can monitoring improve the performance of state-owned firms? Evidence from privatization in a large emerging market

While privatization has long been a central pro-market strategy for promoting competitiveness, little is known about which aspects of this multilevel process impact firm performance. Agency theory predicts that privatization will improve firm performance due to changes in monitoring by shareholders, the incentives of management, and the political control of the government. Measuring how each of these three pathways impact firm performance separately is difficult, however, as most privatizations result in the transfer of both ownership and control to private investors, influencing several of these pathways at once. This article is able to circumvent this limitation by examining changes to firm performance from the minority privatization of Indonesian state-owned firms during whic\h firms experience only changes in monitoring, as majority state ownership and control remain the same. Difference-in-differences analyses suggest that changes to monitoring improve firm performance by 9–13%, controlling for cross-sectional, time-invariant, and time-varying firm characteristics, macroeconomic issues affecting all firms, selection issues, and considering several alternative hypotheses. Altogether, this article suggests that firm performance via privatization can improve through changes to monitoring alone, without implementing the costly organizational changes required by complete privatization or requiring that the state relinquish control of socially important firms.
Monitoring Targeting Performance When Decentralized Allocations to the Poor Are Unobserved

How can a central government monitor the performance of a decentralized poverty program when the incidence of the program's benefits is unobserved at the local level? This article shows that, using a poverty map and the corresponding spending allocation across geographic areas, one can identify the latent differences in mean program allocations to the poor and the non-poor. The national measure of targeting performance can also be decomposed into subgroups. An application to an antipoverty program in Argentina is used to assess the program's performance before and after reforms. Increases in funding and changes in program design brought large gains to the poor, although performance differed across provinces.
Regulation By Bootstrap: Contingent Management of Hazardous Wastes Under the Resource Conservation and Recovery Act

In the last few years, EPA has increasingly employed the questionable technique of “contingent management” to regulate wastes under the federal Resource Conservation and Recovery Act (RCRA) in order to limit the costs and avoid the stigma of hazardous waste classification. Through the technique of contingent management, EPA has exempted materials from classification as hazardous waste on the condition that the materials are managed in the particular manner specified in the regulation. The ultimate bootstrap, contingent management allows EPA to regulate non-hazardous wastes over which it has no statutory jurisdiction. Perhaps more troubling, contingent management allows EPA to avoid the specific statutory scheme adopted by Congress for the regulation of hazardous wastes.Although one case appears to endorse the use of contingent management, the most significant issues raised by this technique have not been addressed. The legality of the contingent management technique is far from clear. Among other things, EPA is relying on the factors of cost and stigma that may not properly be considered in classifying wastes as hazardous, and EPA is avoiding specific statutory requirements that would otherwise apply to hazardous wastes. Furthermore, the rationale used by EPA to justify contingent management is essentially boundless; EPA could potentially eliminate the statutory requirements of RCRA by regulating any otherwise hazardous waste through contingent management. EPA is, in effect, asserting discretion to regulate such wastes in any manner it deems appropriate. This is a position rejected by Congress when it amended RCRA in 1984 to constrain EPA's discretion. Given these concerns, courts should closely scrutinize EPA's use of contingent management and not defer to EPA's construction of its authority under RCRA.After discussing the rationale and weaknesses of contingent management, this Article concludes with recommendations for a more rational and consistent means of classifying and regulating hazardous waste.
This Is Your Brain on Law School: The Impact of Fear-Based Narratives on Law Students

Law students regularly top the charts as among the most dissatisfied, demoralized, and depressed of graduate-student populations. As their teachers, we cannot ignore the palpable presence of this stress in our classrooms—unchecked, it stifles learning, encourages counterproductive behavior, and promotes illness. By more thoughtfully using cautionary tales, we can actively manage one source of law student anxiety. Although reining in cautionary tales will certainly not be a panacea to law student distress, elimination of all law student anxiety is neither a realistic nor a desirable goal. Fear-based stress, in moderation, can compel students to overcome challenges they never thought possible; it can encourage independent learning; and it can prepare students for the pressures of practice. Yet, fear appeal research teaches us that “fear is wielded most effectively as a scalpel rather than a cudgel.” Indeed, Aristotle long ago recognized the importance of this balance: “If there is to be the anguish of uncertainty, there must be some lurking hope of deliverance, and that this is so would appear from the fact . . . that fear sets [people] deliberating—but no one deliberates about things that are hopeless
Is the U.S. Supreme Court's Legitimacy Grounded in Performance Satisfaction and Ideology?

Bartels and Johnston have recently presented evidence suggesting that the legitimacy of the U.S. Supreme Court is grounded in the ideological preferences and perceptions of the American people. In addition, they offer experimental data purporting to show that dissatisfaction with a single Court decision substantially diminishes the institution's legitimacy. These findings strongly break with earlier research on the Court's institutional support, as the authors recognize. The theoretical implications of their findings are profound. If the authors are correct that legitimacy is strongly dependent upon satisfying the policy preferences and ideological predilections of the American people, the essence of legitimacy is fundamentally transformed. Consequently, we reinvestigate the relationships among ideology, performance satisfaction, and Court legitimacy, unearthing empirical findings that diverge markedly from theirs. We conclude with some thoughts about how the Court's �countermajoritarian dilemma� can be reconceptualized and recalculated, once more drawing conclusions sharply at odds with those of Bartels and Johnston.
Vicarious Deliberation: How the Oregon Citizens' Initiative Review Influenced Deliberation in Mass Elections

The state of Oregon established the Citizens’ Initiative Review (CIR) to improve the quality of public deliberation during direct elections. To better understand how a deliberative “mini-public” can influence electoral deliberation on complex ballot issues, we analyzed the 2010 CIR’s Citizens’ Statements as well as how the Oregon electorate used them. Analysis of this case shows the political feasibility of intensive deliberation and the Oregon public’s appreciation of having access to neutral information developed by peers. This study also examines how the CIR Statements were written, their distinctive topical coverage relative to conventional voting guides, and what they left out of their policy analyses.
The Promise of Peacekeeping: Protecting Civilians in Civil Wars

Do peacekeepers protect civilians in civil conflict? Securing civilian safety is a key objective of contemporary peacekeeping missions, yet whether these efforts actually make a difference on the ground is widely debated in large part because of intractable endogeneity concerns and selection bias. To overcome these issues, we use an instrumental variables design, leveraging exogenous variation in the rotation of African members of the United Nations Security Council and looking at its effects on African civil wars. We show that states that wield more power send more peacekeepers to their preferred locations, and that these peacekeepers in turn help to protect civilians. We thus demonstrate the robustness of many existing results to a plausible identification strategy and present a method that can also be applied to other diverse settings in international relations.
With a Little Help from Their Friends: Exploring the Advice Networks of Software Entrepreneurs

This field interview study examined patterns and content of advice sharing networks among 20 software executives to provide a clearer understanding of how advice relationships are established, the types of advice that are shared and the role that relationships play in the support of information exchange and diffusion. Most advice relationships were formed from strong tie relationships, while systematic differences were found among the types of advice sought from advice relationships resulting from strong ties, business ties and weak ties. The preference of software executives for rich communication media supports the importance of establishing trust in advice sharing relationships.
Jailhouse Islamophobia: Anti-Muslim Discrimination in American Prisons

The post 9/11 surge in America’s Muslim prison population has stirred deep-seated fears, including the specter that American prisons will become a breeding system for “radicalized Islam.” With these fears have come restraints on Muslim religious expression. Mistreatment of Muslim prisoners violates the Religious Land Use and Institutionalized Persons Act of 2000 (RLUIPA), which Congress passed in part to protect prisoners from religious discrimination. Despite RLUIPA, prisoners still face the same challenge that preceded the legislation. Ironically, while Congress directed courts to apply strict scrutiny to these cases, the courts continue to reject most claims. One reason is that many courts are applying a diluted form of the legal standard. Indeed, the “war on terror” has justified increasing deference to prison administration to the detriment of incarcerated Muslims and religious freedom.
Productivity Dynamics in a Large Sample of Countries: A Panel Study

Recent research shows that productivity differences are more important than differences in accumulation rates in explaining per capita income differences across countries. So far static differences in productivity have been mainly computed and analyzed in large samples of countries. This paper extends the research by focusing on productivity dynamics. It uses the panel approach to compute productivity indices for a large sample of countries for two time periods, namely an initial period of 1960‐75 and a subsequent period of 1975‐90. This allows computation of ordinal and cardinal changes in productivity between the two periods. The results show considerable variation in productivity dynamics across countries. The task ahead is to find out what accounts for the observed dynamics. Recent research shows that productivity differences are more important than differences in input intensity in explaining per capita income differences across countries. Some studies indicate that productivity levels of developed countries have converged. However, studies also indicate that such convergence has not occurred either among developing countries themselves or between them on the one hand and developed countries on the other. This makes study of productivity dynamics in large samples of countries more interesting and useful. Several different approaches have been used so far for international comparison of total factor productivity (TFP). Among these are the time-series growth accounting approach, the panel regression approach, and the cross-section growth accounting approach. Data limitations do not allow application of the sophisticated version of the time series approach to most developing countries. The panel regression approach was used earlier in Islam (1995) to produce productivity indices for a sample of 96 countries. Recently Hall and Jones (1996, 1999) have used the cross-section growth accounting approach to produce productivity indices for 127 countries for the year of 1988. However, such static, snapshot pictures cannot provide productivity dynamics .Y et it is dynamics that can better reveal the determinants of productivity. This paper applies the panel approach to produce productivity indices for two different time periods and thereby quantifies productivity changes. The sample consists of 83 countries for which Penn World Tables (PWT) allow construction of