Freshfields Bruckhaus Deringer

About: Freshfields Bruckhaus Deringer is a other organization based out in London, United Kingdom. It is known for research contribution in the topics: Arbitration & Common law. The organization has 139 authors who have published 143 publications receiving 753 citations. The organization is also known as: magic circle law firm.

The Individual in the International Legal System: Continuity and Change in International Law

Abstract: Part I The Framework: 1 Structures of the international legal system Part II The Individual in International Law: 2 The individual and international claims 3 The individual in international humanitarian law 4 The individual in international criminal law 5 The individual in international human rights law Part III Reassessing the Framework: 6 Reflections on the structures of the international legal system

The average consumer, the unfair commercial practices directive, and the cognitive revolution

Abstract: This article examines the merit of the test of the average consumer as a basis for judicial and regulatory action. In the first part, we describe the origin of the test, its application in the Unfair Commercial Practices Directive and its possible developments. In the second part, we discuss the theoretical grounds of the average consumer test (i.e., information and rationality), drawing upon the studies of cognitive psychology and behavioural economics concerning consumers’ behaviour. The result of our analysis is that we call into serious question the practical workability of the test of the average consumer, which requires consumers an overly demanding standard of rationality and information without dedicating much attention to the real functioning of consumer behaviour. The average consumer may be described as an interesting, anti-paternalistic and, to some extent, useful notion. It is, however, an overly simplistic concept with little correspondence with the real world of individual consumer behaviour and should be reinterpreted more flexibly, or even abandoned to mirror consumer behaviour more effectively.

Intra-industry effects of completed and cancelled cross border acquisitions in Australia: A test of the acquisition probability hypothesis

Abstract: Globalization has led to an increase in cross-border mergers and acquisitions in recent years. Australian firms have featured prominently as acquisition targets in the latest merger wave. Cross-border acquisitions significantly affect industry dynamics and competitive balance. We investigate the intra-industry effects of cross-border acquisition of Australian firms and find, among others, that the target firms' rivals realized significantly positive abnormal returns following both the acquisition proposal and termination announcements. We relate our results to competing hypotheses and find evidence consistent with the acquisition probability hypothesis. Interestingly, we find that the abnormal returns earned by the rival firms at the time of the termination of the acquisition involving their industry counterparts were greater than the returns earned at the time of the acquisition proposal announcement. These results are consistent with the assertion that the likelihood of acquisition of the rival firms increases following the termination of the initial acquisition proposal involving their industry counterparts.