Student’s Paper to Publish in Italian Academic Journal

George Khoukaz, ’18, will have his paper, “Corporate Shareholders’ Limited Liability: Useful or Abusive?,” published in the Bocconi Legal Papers – the official academic journal of Bocconi University in Milan, Italy.

The paper provides an insight into the relationship between limited liability and moral hazard, which was brought to the attention of the public by the financial crisis of 2008. In particular, the purpose of the paper is to address the question of when limited liability becomes abusive and disruptive to a society’s development, or, put differently, in “finding the sweet-spot which justifies risk-shifting – for the selfish purpose of corporate economic growth – while making sure that such a shift does not result in a destructive hazard on the larger society.”

The paper was written as part of an independent research paper under the supervision of Professor Thom Lambert.