Unternehmen - Recht, Innovation und Risiko
Type
fundamental research project
Start Date
01 August 2010
End Date
31 December 2015
Status
completed
Keywords
Innovationsrecht
Risikoregulierung
Description
Der Profilbereich "Unternehmen - Recht, Innovation, und Risiko" stellt einen institutsübergreifenden Forschungsschwerpunkt der rechtswissenschaftlichen Abteilung der Universität St. Gallen dar.

Thematisch erfasst sind einerseits Forschungsbeiträge, die sich mit Innovationen und Risiken im Recht befassen (Institutionellen Reformen, Methodischer Innovation, Regulierungsversagen), andererseits Forschungsbeiträge, bei denen die Regulierung von (gesellschaftlichen, wirtschaftlichen, sozialen) Innovationen und Risiken im Zentrum steht.
Leader contributor(s)
Möslein, Florian
Nobel, Peter
Thouvenin, Florent
Member contributor(s)
Gasser, Urs
Hilf, Marianne Johanna
Funder(s)
Topic(s)
Die inhaltliche Orientierung des Profilbereichs umfasst: "Rechtswissenschaftliche Forschung hinsichtlich der Förderung innovativer
unternehmerischer Tätigkeit und die Bewältigung der damit verbundenen Risiken durch Recht bzw. Regulierung auf der Basis interdisziplinärer Methoden."
Method(s)
Zur Behandlung der einzelnen Schwerpunkte bieten sich im Kontext "Unternehmen - Recht
Innovation
Risiko" interdisziplinäre Methoden
unter anderem die ökonomische Analyse des Rechts (law & economics) im Lichte des "St. Galler Ansatz des Wirtschaftsrechts"
an. Das bedeutet
dass einerseits law & economics im engeren Sinn (Recht & VWL
Sicht des Regulators)
aber auch law & business Ansätze (Recht & BWL
Sicht des Unternehmers) berücksichtigt werden. Weiters werden Effizienzkriterien ebenso wie Verteilungsaspekte berücksichtigt und eine methodische Ausrichtung (theoretisch
empirisch
experimentell)
je nach persönlicher Ausrichtung des Forschers ermöglicht. Dieser Ansatz erlaubt klassische Ansätze neueren Erkenntnissen aus der Verhaltensforschung
samt der Anwendung auf rechtliche Probleme (behavioral law & economics)
gegenüber zu stellen.
Range
School
Range (De)
School
Division(s)
Eprints ID
46404

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Publication

The Marginal Incentive of Insider Trading: An Economic Reinterpretation of the Case Law

2006 , Grechenig, Kristoffel

Commentators on insider trading are divided into two camps, one in favor of regulation, the other in favor of deregulation. The pleadings for the two positions are manifold but not irreconcilable. We show that important gains to social welfare come with insider trading on negative information (sales), whereas losses often result from the use of positive information (purchases). Thus, we look at a regulation that allows insiders to use negative but not positive non-public information. Because positive information will be disclosed much sooner than negative information, the marginal incentive (and marginal gain to social welfare, respectively) of insider trading as a disclosure mechanism is greater for sales than for purchases. Likewise, stock bubbles generally occur in terms of overvaluations, not undervaluations, emphasizing the importance of insider trading on negative information as a deterrent. The case law on insider trading has long since recognized the distinction between the two types of information, a fact that commentators have either neglected or criticized. A reinterpretation allows us to reconcile presumed contractions of the case law. Our analysis also explains empirical data suggesting that insider trading involves more selling than buying, while enforcement actions focus on purchasing activity.

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Publication

Dispoaktien: Ein 250-Milliarden-Problem?

2012-06-15 , Häusermann, Daniel M.

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Publication

Nanotechnologie: Reichweite des Regulierungs- und Gestaltungsanspruchs des Gesetzgebers

2008-11-11 , Hettich, Peter

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Publication

Cooperative Risk Regulation : Discussion

2011-08-09 , Hettich, Peter

The idea of market participants negotiating the regulatory framework of their business with regulators has gained ground in recent years. This approach of "Co-Regulation" has been advocated as useful for audiovisual media, in particular; it might be transferable to other areas. The internet, financial markets, environmental pollution, and nanotech are all fields in which the regulatory state seeks an active role. These fields might need some regulation to ensure the safety of consumers. However, regulatory efforts soon hit a wall, either because legislators are barred from regulation (e.g. media), because legislators hardly know about a technology (e.g. nanotech), because legislators despair of dynamic markets (e.g. financial markets), or because legislators lack instruments to regulate complex processes (e.g. pollution). Maybe as a consequence, regulation in these areas is delegated to regulatory agencies with limited democratic legitimacy, limited accountability and limited judicial review. Unfortunately, efforts to co-regulate industries might not overcome all of these problems, are implemented patchy, and are prone to regulatory capture and intransparency. This discussion is about how the process of co-regulating industries might be improved.

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Publication

Bleak Prospects for Research in GMP in Switzerland

2012-11-01 , Hettich, Peter , Walther, Simone

Many European countries, including Switzerland, share deep suspicions about the broad commercial application of Genetically Modified Plants (GMP) in agriculture. Research in GMP, however, is mostly welcome. In Switzerland, nevertheless, an overprotective legal framework against risks of GMP results in regulatory spillovers for research. This article explores how such expanded legal protection in combination with the application of a strong precautionary principle hampers freedom of research in the field of green gene technology. The authors do not seek, on this occasion, to question the general risk assessment of Swiss legislators and their desire for a high level of protection. However, field trials with GMP will cease to take place if the procedural burdens for researchers are not reduced. In particular, it will be vital to establish research zones ("protected sites") if research in GMP is to continue to take place in Switzerland.

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Publication

Unternehmensstrafrecht in der Schweiz

2009 , Hilf, Marianne Johanna , Kert, Robert , Záhora, Jozef

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Publication

Kooperative Risikovorsorge : Regulierte Selbstregulierung im Recht der operationellen und technischen Risiken

2014 , Hettich, Peter

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Publication

Urheberrechtliche Beurteilung von "Catch-up TV"

2013 , Thouvenin, Florent

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Publication

VbVG

2010 , Hilf, Marianne Johanna , Zeder, Fritz , Höpfel, Frank , Ratz, Eckart

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Publication

Der Einwand rechtmässigen Alternativverhaltens - Rechtsvergleich, Ökonomische Analyse und Implikationen für die Proportionalhaftung

2009-01-01 , Grechenig, Kristoffel

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