Founded in 2007, the Program in the Law and Economics of Capital Markets was created with the goal of bringing together the disparate work of lawyers and economists in the field of capital markets and their regulation.
Scholars in market microstructure, the study of the economic forces affecting securities market trades, quotes and transaction prices, have traditionally not taken into account the regulatory structures of real-world securities market operations. On the other hand, legal literature has largely focused on describing institutional regulatory structures and has not taken advantage of the work done in the field of market microstructure.
The center's program focuses on producing high-quality scholarly literature on capital markets regulation that is significantly informed by financial economic principles.
Publications from 2020
Paper: Stakeholder Survey Preliminary White Paper, Program in the Law and Economics of Capital Markets and Columbia-IBM Center for Blockchain and Data Transparency
Books from 2019
Book: The New Stock Market: Law, Economics, and Policy, Merritt B. Fox, Lawrence R. Glosten, and Gabriel V. Rauterberg
Books from 2018
Book: Securities Market Issues for the 21st Century, Merritt B. Fox, Lawrence R. Glosten, Edward F. Greene, and Manesh S. Patel
Book Chapter: Initial Public Offerings in the CMU: A U.S. Perspective, Merritt B. Fox
Book Chapter: The Rise of Foreign Ownership and Corporate Governance, Merritt B. Fox
Publications from 2017
Article: Evaluating Stock-Trading Practices and Their Regulation, Merritt B. Fox and Kevin S. Haeberle
Article: Stock Market Futurism, Merritt B. Fox and Gabriel Rauterberg
Publications from 2015
Article: The New Stock Market: Sense and Nonsense, Merritt B. Fox, Lawrence R. Glosten, and Gabriel Rauterberg
Publications from 2014
Article: Ongoing Issues in Russian Corporate Governance, Merritt B. Fox
Publications from 2012
Article: Securities Class Actions Against Foreign Issuers, Merritt B. Fox
Publications from 2009
Article: Civil Liability and Mandatory Disclosure, Merritt B. Fox
Article: Short Selling and the News: A Preliminary Report on Empirical Study, Merritt B. Fox, Lawrence R. Glosten, and Paul C. Tetlock