Professor Weng Presented His Paper on International Corporate Law Scholar Conference

Research Professor Weng Xiaochuan attended Corporate Law Teachers Association Conference 2013 hosted by the Australian National University (ANU) College of Law in Canberra, Australia, from Feb 2nd to 5th. The conference is one of the most widely-recognized corporate law conferences in the world. Top business scholars came from Britain, the United States, Australia, India, Hong Kong, Malaysia, New Zealand and etc. attended the great event.

Professor Weng presented his resent paper, Chinese Corporate Balkanization: The Reality of Political Economy and Competition for Corporate Charters as a Solution, on the conference and received invaluable comments from top scholars.
In the area of business law, legislatures always lack incentives to enact optimal laws and are reluctant to innovate even if innovation is badly needed in the real business world. This reluctance exists because lawmakers share few of the benefits of producing optimal laws. Competition among states for corporate charters is the genius of American corporate law. This competition has proved to be an effective way to improve the responsiveness of corporate law. In contrast, the EU and Canada have run into bottlenecks when trying to introduce charters competition. Given the specific political and economic realities of China, the problems preventing the EU and Canada from adopting charters competition will not haunt China. Professor Weng believes, through proper legal arrangement, local provinces may have a chance to promulgate their own corporate regulations (not laws), even if the corporate law-making power remains in the hands of the national legislature.
Throughout the academic and personal contact with scholars from all over the world in and outside the conference, Professor Weng has also actively promoted the cooperative relationship between KoGuan Law School and other law schools, particularly the top Australian law schools, such as the ANU College of Law.

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