The self-regarding function which theex postcourt review of RPTs spurs corporate insiders to adopt becomes stronger if one considers another behavioral insight: the tendency to discount hyperbolically.Footnote89In other words, basically, people tend to reward the imminent benefits while discounting the ...
markets; (ii) the level of investor protection provided by corporate and securities laws; (iii) the level of private benefits of control potentially enjoyed by corporate insiders; (iv) procedural laws; (v) accounting and audit regulation; and (vi) the quality and credibility of enforcement. The...