The Logic of Securities Law

Reviews / Votes

'One does not need to agree with Professor Georgakopoulos' core thesis (I have a much more deregulatory view) to love this book. It is strong and provocative without being partisan. It contains an impressive up-to-date summary of legal doctrine, relevant institutions, current empirical research in finance and accounting, peppered with anecdotes and what old-school print press quaintly calls 'human interest stories'. It manages to explain basic finance concepts without math in the way that's both correct and comprehensible. Students of law will find it useful to impose structure on the otherwise unwieldy and political field of securities law. Students of finance and accounting could use it to replace their favorite source of legal doctrine - a lunch with a law professor. The text strikes me as something that the author actually wants to be read, which deserves separate pondering and admiration.?' Katherine Litvak, Northwestern University, Washington, DC 'American securities law has developed, since its creation in the 1930s, in response to changing practices and changing problems. As judges, regulators and legislators attempted to respond to the pressing issue of the day, focus turned from the forest to the trees and the theoretical coherence of securities laws as a whole has diminished. In The Logic of Securities Law, Professor Georgakopoulos acts to restore some of the lost coherence, tying together different strands of securities law around a simple yet powerful theoretical focal point - a virtuous circle in which liquid markets, accurate securities prices and low trading costs reinforce each other. By directing securities law to facilitate this virtuous cycle, law is given a clarity of purpose and those who study and practice the law are given a simple yet supple roadmap to understand and evaluate this complex and important legal field.' Amitai Aviram, Director of the Corporate Law Program, University of Illinois