Początki polityki regulacji w zakresie nadzoru korporacyjnego w USA

• Autorzy: Marian Turek
• Języki publikacji: PL

Abstrakty

Przedstawiono analizę serii niepowodzeń, które stały się powodem procesów sądowych w 1826 roku i rozwoju regulacji prawa. Niepowodzenia te miały miejsce wśród nowych przedsiębiorstw finansowych, które zostały założone i prowadzone przez bogate i politycznie wpływowe osoby w USA. Zbadano rozwój prawa w odpowiedzi na skandale, zawierający ustawowe reformy wprowadzone przez stan Nowy Jork i prawo zwyczajowe, które pojawiło się w związku z obfitym sądownictwem cywilnym zainicjowanym przez akcjonariuszy oraz zbadano relacje pomiędzy tymi prawnymi zmianami i wyznacznikami niepowodzeń. (fragment tekstu)

EN

This study describes analysis of the series of failures amongst new financial companies, which were established and led by rich and politically influential people. Scandalous information about mismanagement accompanied these failures and they provoked the attack of social dissatisfaction. Criminal proceedings took place soon after and the government implemented the considerable package of legislations to prevent future frauds and protect the investors. The legislation was designed to improve mechanisms and processes. Today it sounds quite familiar, but these events took place in 1826 and legal changes, which were implemented during that time, were the first to be implemented anytime. (A.T.)

Słowa kluczowe

PL

Ład korporacyjny; Kryzys finansowy; Polityka regulacyjna; Regulacje prawne; Historia gospodarcza

EN

Corporate governance; Financial crisis; Regulatory policy; Legal regulations; Economic history

• Czasopismo: Prace i Materiały Wydziału Zarządzania Uniwersytetu Gdańskiego
• Rocznik: 2009
• Numer: nr 1
• Strony: 365--382

Twórcy

autor

Marian Turek

• Uniwersytet Gdański

Bibliografia

• Acharya, Virai, and Matthew Richardson. 2009. Restoring Financial Stability: How to Repair a Failed System. New York: Wiley.
• Angeli, Joseph K., and Samuel Ames. 1832. A Treatise on the Law of Private Corporations Aggregate. Boston: Hilliard, Gray, Little & Wilkins.
• Benmelech, Effi, and Jennifer Dlugosz. 2009. The Credit Rating Crisis. Harvard University.
• Berle, Adolf, and Gardiner Means. 1932. The Modern Corporation and Private Property. New York: Macmillan.
• Biddle, Nicholas. 1823-28. Collected Papers. Microfilm, Library of Congress.
• Bodenhom, Howard. 2003. State Banking in Early America. New York: Oxford University Press.
• Bruner, Robert F., and Sean D. Carr. 2007. The Panic of 1907. Hoboken, NJ: John Wiley.
• Catterall, Ralph C.H. 1903. The Second Bank of the United States. Chicago: University of Chicago Press.
• Chancellor, Edward. 2002. Devil Take the Hindmost: A History of Financial Speculation. New York: Plume.
• Curran, William J. 1951. The Struggle for Equity Jurisdiction in Massachusetts, Boston University Law Review, 31(3)
• Davis, Joseph S. 1917. Essays in the Earlier History of Corporations. Cambridge: Harvard University Press.
• Dawson, Frank G. The First Latin American Debt Crisis: The City of London and the 1822-1825 Loan Bubble. New Haven: Yale University Press.
• Dodd, Edwin M. 1954. American Business Corporations Until 1860. Cambridge: Harvard University Press.
• Driscoll, William D. 1987. Benjamin F. Butler: Lawyer and Regency Politician. New York: Garland.
• English, Henry. 1827. A Complete View of Joint Stock Companies Formed in 1824 and 1825. London: Boosey and sons.
• Ford, Paul L. 1905. The Works of Thomas Jefferson. New York: G.P. Putnam's Sons.
• Flagg, A.C. 1868. A Few Historical Facts Respecting the Establishment and Progress of Banks and The Business of Banking in New York.
• Gennaioli, Nicola and Andrei Shleifer. 2007. The Evolution of Common Law. Journal of Political Economy, 115(1)
• Glaeser, Edward L., and Andrei Shleifer. 2003. The Rise of the Regulatory State, Journal of Economic Literature, 41
• Govan, Thomas P. 1959. Nicholas Biddle. Chicago: University of Chicago Press.
• Gower, L.C.B. 1956. Some Contrasts Between British and American Corporation Law. Harvard Law Review, 69(8)
• Hammond, Bray. 1957. Banks and Politics in America From the Revolution to the Civil War. Princeton: Princeton University Press.
• Hanyan, Craig. 1996. DeWitt Clinton and the Rise of the People's Men. Buffalo: McGill-Queen's University Press.
• Harris, Ron. 2000. Industrializing English Law: Entrepreneurship and Business Organization, 1720-1844. New York: Cambridge University Press.
• Hilt, Eric. 2008. When did Ownership Separate from Control? Corporate Governance in the Early Nineteenth Century. Journal of Economic History, 68
• Hilt, Eric. 2009. Rogue Finance: The Life and Fire Insurance Company and the Panic of 1826. Business History Review, 83(1)
• Homer, Sidney, and Richard Sylla. 1996. A History of Interest Rates. New Brunswick: Rutgers University Press.
• Hurst, James W. 1956. Law and the Conditions of Freedom in the Nineteenth-Century United States. Madison: University of Wisconsin Press.
• Hurst 1970. The Legitimacy of the Business Corporation in the Law of the United States, 1780- 1970. Charlottesville: University of Virginia Press.
• Kessler, William C. 1940. A Statistical Study of the New York General Incorporation Act of 1811, Journal of Political Economy, 48
• Kindleberger, Charles P. 1999. Szaleństwo, panika, krach. Historia kryzysów finansowych. WIG-Press, Warszawa.
• Kyd, Stewart. 1793. A Treatise on the Law of Corporations. London: Butterworth.
• Lamoreaux, Naomi. 1994. Insider Lending. New York: Cambridge.
• Lamoreaux, Naomi and Jean-Laurent Rosenthal. 2005. Legal Regime and Business's Organizational Choice: A Comparison of France and the United States During the Era of Industrialization, American Law and Economics Review, 7
• Lamoreaux, Naomi and Jean-Laurent Rosenthal. 2006. Corporate Governance and the Plight of Minority Shareholders in the United States Before the Great Depression, in Goldin and Glaeser, eds., Corruption and Reform: Lesson's from America's Economic History. Chicago: University of Chicago Press.
• LaPorta, Rafael, Lopez-de-Silanes, Florencio, and Andrei Shleifer. 1999. Corporate Ownership Around the World," Journal of Finance, 64
• LaPorta, Rafael, Lopez-de-Silanes, Florencio, and Andrei Shleifer. 2008. The Economic Consequences of Legal Origins, Journal of Economic Literature, 46(2)
• Maier, Pauline. 1993. The Revolutionary Origins of the American Corporation, William and Mary Quarterly, 50 (1)
• McCulloch, J. Ramsay. 1836. On Joint Stock Banks and Companies, Edinburgh Review, 63(127)
• Moen, Jon, and Ellis W. Tallman. 1992. The Bank Panic of 1907: The Role of Trust Companies, Journal of Economic History 68(3)
• Neal, Larry. 1998. The Financial Crisis of 1825 and the Restructuring of the British Financial System, Federal Reserve Bank of St. Louis Review, 80 (3).
• North, Douglass C, Wallis, John J., and Barry R. Weingast. 2009. Violence and Social Orders: A Conceptual Framework for Interpreting Recorded Human History. New York: Cambridge University Press.
• Odell, Kerry, and Marc Weidenmier. 2004. Real Shock, Monetary Aftershocks: The San Francisco Earthquake and the Panic of 1907, Journal of Economic History, 64(4)
• Pessen, Edward. 1973. Riches, Class, and Power: America Before the Civil War. Lexington, MA: DC Heath.
• Ponzetto, Giacomo and Patricio A. Fernandez. 2008. Case Law versus Statute Law: An Evolutionary Comparison, Journal of Legal Studies, 37
• Redlich, Fritz. 1944. Bank Money in the United States During the First Half of the Nineteenth Century. Southern Economic Journal, 10(3)
• Redlich, Fritz. 1968. The Molding of American Banking: Men and Ideas. New York: Johnson Reprint Corp.
• Rothbard, Murray N. 1956. The Panic of 1819: Contemporary Opinion and Policy. Columbia University.
• Rousseau, Peter L., and Richard Sylla. 2005. Emerging Financial Markets and Early U.S. Growth, Explorations in Economic History, 42
• Seligman, Joel. 2003. The Transformation of Wall Street: A History of the Securities and Exchange Commission. 3rd ed. New York: Aspen.
• Sylla, Richard E., Wilson, Jack W., and Robert E.Wright. 2005. Price Quotations in Early United States Securities Markets, 1790-1860. Ann Arbor, MI: Inter-university Consortium for Political and Social Research
• Tallman, Ellis W., and John R. Moen. 1990. Lessons from the Panic of 1907, Federal Reserve Bank of Atlanta Economic Review, (May)
• Temin, Peter. 1969. The Jacksonian Economy. New York: Norton.
• Werner, Walter, and Steven T. Smith. 1991. Wall Street. New York: Columbia University Press.
• Williston, Samuel. 1888. History of the Law of Business Corporations before 1800. Harvard Law Review, 2(4)
• Wright, Robert. 1997. Banking and Politics in New York, 1784-1829. SUNY, Buffalo.