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Andrew Jennings

@andrewkjennings.com

5.9K followers 4.3K following 350 posts

Corporate/securities law professor, Emory University Host, Business Scholarship Podcast (@busscholarship.bsky.social) Creator, KFilings (@kfilings.com) https://andrewkjennings.com // https://kfilings.com

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Andrew Jennings @andrewkjennings.com · 5h

Well, the soviet of sport and community assembly is still assessing whether the necessary north fields can be used for the construction or whether they need to be kept open for the Quadrennial Patriotic May Rally.

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Andrew Jennings @andrewkjennings.com · 5h

We must preserve the character and environmental health of the people’s republic through robust and extended popular consultations.

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Andrew Jennings @andrewkjennings.com · 5h

Nation braces for man to act belligerently if he doesn’t receive peace award.

Steve Herman @newsguy.bsky.social · 9h

The Guardian- The US president may impose tariffs, demand higher NATO contributions or even declare Norway an enemy, analyst says, if on Friday he is not awarded the Nobel Peace Prize. www.theguardian.com/world/202...

Norway braces for Trump’s reaction if he does not win Nobel peace prize

US president may impose tariffs, demand higher Nato contributions or even declare Norway an enemy, analyst says

www.theguardian.com

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Andrew Jennings @andrewkjennings.com · 5h

With that nugget, my working model’s R2 just went up appreciably.

Andrew Jennings @andrewkjennings.com · 6h

Nothing but respect for our co-presidents.

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Andrew Jennings @andrewkjennings.com · 6h

I’d sooner be governed by the first hundred names in the Cambridge phone book than the AALS attendee list.

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Andrew Jennings @andrewkjennings.com · 8h

It leads to moments in which Spanberger just looks ahead silently after Earle-Sears attacks, until the moderators feel awkward about the silence and ask a new question. But for its awkwardness, it's probably the best approach when you're ahead and the ground favors you so much.

Andrew Jennings @andrewkjennings.com · 8h

Earle-Sears is trying to coax out a damaging line or two by Spanberger. Spanberger is clearly playing prevent defense (probably wise).

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Andrew Jennings @andrewkjennings.com · 8h

This Virginia gubernatorial primary is already wild.

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Reposted by Andrew Jennings

Andrew Jennings @andrewkjennings.com · Sep 8

How often do veil-piercing factors occur in everyday business? What might their prevalence mean for the "exceptionalness" of the PCV remedy?

My new paper, "Everyday Veil Piercing," provides the first prevalence estimates of piercing factors in U.S. small businesses. papers.ssrn.com/sol3/papers....

Everyday Veil Piercing
Under veil-piercing doctrine, shareholders may lose the privilege of limited liability by disregarding the legal separation between themselves and the companies they own. The doctrine cautions, however, that abrogating limited liability is an exceptional remedy that requires the presence of certain factors. Among them are fraud on creditors; inattention to formalities; asset commingling; and undercapitalization. Yet courts, practitioners, and scholars lack everyday base rates of these factors—unfortunate given that their prevalence estimates could aid calibration of and rethinking about how exceptional the remedy ought to be. I begin addressing these missing base rates by estimating that in U.S. small businesses, inchoate fraud on creditors occurs with at least 4.89% annual prevalence; inattention to formalities with 12.60%; commingling with 26.37%; and undercapitalization with 38.22%.

I use two pre-registered survey studies of small businesses to reach these estimates. In the first, I ask respondents directly whether their firms have engaged in a set of practices, some innocuous and others proxying veil-piercing factors. But because veil-piercing factors could be socially undesirable, this direct-survey method risks producing downwardly biased estimates. To mitigate that potential bias, the second study employs a list experiment, a survey method used to elicit truthful answers to sensitive questions. Although list experiments have long been deployed in adjacent fields, I provide the first known instance of their use in studying legal doctrine. In doing so, I demonstrate how legal scholars can use this method to plumb countless other doctrinal questions.

The Article’s estimates translate to veil-piercing factors appearing in millions of businesses at any given time. They complement earlier studies showing that courts rule in favor of veil-piercing claimants more often than exceptionalist rhetoric found in case law suggests. Together, the Art…

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Andrew Jennings @andrewkjennings.com · 11h

My response to those is “okay, but if you email me again, I’m marking it as a junk and you can deal with the bad reputation you get with spam filters”.