Professor Curtis J. Milhaupt

The Japanese Legal System: Cases, Codes and Commentary
Curtis Milhaupt ‘89 (with J. Mark Ramseyer and Mark D. West) (Foundation Press, 2006)

This casebook on Japanese law was designed for ease of use and theoretical versatility. Heavily edited cases, statutes, and articles canvass a wide range of intriguing problems and theoretical perspectives. It facilitates a variety of analysis and approaches to a given question - whether sociological, anthropological, or based on law and economics - and allows for in-depth coverage of a diverse range of substantive areas of law, from torts, criminal law, and contracts to employment and corporate law. The book also contains many newly translated cases.

Economic Organizations and Corporate Governance in Japan: The Impact of Formal and Informal Rules
Professor Curtis J. Milhaupt ‘89 (with Mark D. West ’93) (Oxford University Press, 2004)

In this book, Profs. Milhaupt and West show that institutions play a crucial and heretofore overlooked role in the structure of the Japanese economy, which often is portrayed as being governed exclusively by interpersonal relations and bureaucratic fiat. The book – which analyzes the role of formal rules (law and regulations) and informal rules (norms, practices, and shared beliefs) – demonstrates that despite outward appearances of a decade of stagnation in Japan, these rules are changing significantly. The evidence suggests that in the mix of formal and informal rules that govern Japanese firms and set the incentive structure for other economic actors, law is gaining in importance. The book examines the areas of corporate governance and finance, mergers and acquisitions, financial regulation, and markets for everything from venture capital to legal talent and organized crime. The book’s emphasis on the centrality of institutions, institutional change, and responses to change portray an economy far different from those provided by previous accounts. The authors supply a wealth of previously unexplored data on the Japanese economy and legal system, and demonstrate the importance of a sound incentive roadmap for the country’s economic recovery and transition
Global Markets, Domestic Institutions: Corporate Law and Governance in a New Era of Cross-Border Deals

Curtis J. Milhaupt, ed. (Columbia University Press, New York, 2003)

The dynamic tension between global markets and domestic institutions fuels the debate on corporate governance reform now raging in virtually every region of the world. Investors pursuing high returns and diversification, entrepreneurs seeking capital, and managers endeavoring to restructure troubled enterprises now routinely face transaction counter-parties who operate within different legal and political systems and who rank social priorities quite differently. This discord frames the agenda of the contributors to this volume edited by Prof. Milhaupt.

The scholars examine such issues as the possible convergence of corporate governance practices around the world, national variations in the quality of corporate law, and the fiduciary responsibilities corporate managers around the world owe to their shareholders. Among the book’s many insights is the contention that “globalization” and “global markets” are misleading terms, because they mask the local quality of much of the activity occurring within those rubrics. The case studies in this book focus on markets in France, Germany, Italy, Japan, Korea, Taiwan, and the transition economies of Eastern Europe.