Thesis (M. Phil.)--University of Hong Kong, 2009. / Includes bibliographical references (p. 210-230). Also available online.

Thesis (M.Sc.)--University of Hong Kong, 2002. / Includes bibliographical references (leaves 110-112) Also available in print.

Thesis (Ph. D.)--University of Hong Kong, 2005. / Title proper from title frame. Also available in printed format.

"Thesis approved for the degree of Doctor of philosophy in the University of London." / "First published May, 1939."

Management Buy-Outs occur when the managers of a company buy the company from its owners, namely the shareholders. Where such a company is a listed public company, the transaction is known as "going private. 11 The critics allege that this type of buy-out leads to irreconcilable conflicts of interests, a breach of fiduciary duties and to insider trading by the directors. For this reason Management Buy-Outs should be prohibited or alternatively, regulated to such an extent as to make them virtually unworkable. It is submitted that these conflicts are not irreconcilable and that they are no different to the myriad of other conflicts which arise out of the promotion, incorporation and the operation of a company. Both statute and the common law effectively deal with most of the critics' apprehensions without necessarily prohibiting the transactions giving rise to them. / Private Law / LL.M

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No description available.

The purpose of this research is to examine the effect of a unique experiment by the Rugby Football League, to apply the American professional team sports model to its game, making it the first British sport ever to attempt this. It investigates the economic, financial and social changes, which have occurred within the sport of rugby league, since the introduction of the 'Super League'. The adoption of the American professional team sports model is based on increasing the uncertainty of outcome of games in order to ensure profit maximisation of the clubs. This has raised a number of issues, pertaining to both the game of rugby league itself, the difference between American and British sport, and the ever increasing effect of television revenues and mass media on sport. The adaptation of the model by rugby league officials has resulted in decisive changes to the way the game is played and how the Rugby Football League is run. A change to three divisions from two, the introduction of a 'Super League' copying football's Premiership and a switch from the traditional winter game to a summer season has taken place. Also critical has been the move from terrestrial to satellite television and the effect of this move on network externalities that could influence the long-term future of the game. The £87million financial investment from Rupert Murdoch's News Corporation provided the catalyst for change, in exchange for the five-year exclusive broadcasting rights to the game. The American model was utilised in order to try and financially stabilise the league through the process of profit maximisation. The need for equilibrium within the league also led to the utilisation of various restrictive controls, all of which are common-place in the United States. After critically evaluating the relevant literature, attention is turned to testing the effect of the experiment of applying the American model to British Rugby League. A five-strand approach has been adopted using data both pre and post, the introduction of Super League, utilising nine, case study-clubs throughout the study. Firstly, any change in uncertainty of outcome was examined using the standard deviation of Win/Loss percentage adapted from the approach by Noll (1988) and Scully (1989). Demand for the live matches through attendance figures and broadcasting demand, using audience viewing data were examined. The third strand examines whether the predicted outcome of the American model, and increases in revenue and profit, have been achieved. Finally, two social surveys were carried out on three major stakeholder groups, club officials, players and supporters. The results indicate that the application of the American Professional Team Sports model to rugby league did not achieve the predicted outcome of increased uncertainty, attendance and ultimately, revenue. The reasons for this can be explained by the partial implementations of the model and non-market factors, which appear to be much more significant within British Rugby League than in American sports. The over-riding results suggest that regardless of structural or organisational changes, rugby league is destined to remain a northern minority sport.

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This thesis addresses the theoretical and legal foundations for choice of corporate law in the European Union. In particular, it evaluates the contractarian approach to choice of law, which has become the dominant paradigm. When contractual principle is viewed in its fullest form, it is found that corporate choice of law could be restricted for similar reasons to those which justify limitations to party autonomy in contractual choice of law. What is more, economic arguments for party autonomy should be refined in view of the fact that corporate legal theory is unsettled. Indeed, different views about the economic nature of companies are accounted for in State practice. Having rejected dogmatic approaches to the private international law of companies, it is then found that the EU Treaties contain contradictory signals about the place of party autonomy in choice of corporate law. The lack of clarity in the Treaties and lack of legislative progress has necessitated recourse to the European Court of Justice. The Court has, generally, adopted an interpretation of the Treaty which furthered economic integration. However, the judgments reveal numerous inconsistencies, and the law is in a constant state of flux. Added to the fact that the EU’s legislation is less permissive than the Court’s judgments, the law lacks clarity. Legislation is therefore needed. It is suggested that future legislation should entrench a degree of autonomy, but should also account for the fact that States differ on the goals of companies. While the law of the State of incorporation should govern all matters relating to the company’s internal law, European law should bind the Member State in which a company is established to require pseudo-foreign companies to incorporate norms of the State of its real seat in their statutes. This could be supported through the use of information technology solutions which have been pioneered in other fora.