LEFIC combines two related research fields under one hat. In one field - Law and Economics - legal and contractual arrangements are explained or analyzed with respect to their impact on individuals, firms, welfare, or economic organization. In the second field, Financial Institutions, the rules for and the role of the financial services industry are studied. There are strong synergies between the two fields because financial services are essentially defined by their contractual arrangements.
LEFIC’s focus areas within the two fields are the following:
Competition Law and Policy has been another focus area, but activity in this area is moving to a separate center.
LEFIC’s primary objective is to enhance research and education in the areas of Law and Economics, and Financial Institutions. The main focus is on the way in which legal rules and regulations affect economic behavior; how enterprises should act given existing legal frameworks and how these may be better designed so as to promote economic welfare. It is LEFIC’s ambition to promote and sponsor high quality academic research and education in focus areas, and to serve as a bridge between the business and academic communities in these areas.
LEFIC projects are intended to be cross-disciplinary in the sense of cooperation between researchers in economics, finance and law. LEFIC is not directly involved in educational activities but serves as a resource base for a variety of educational programs on different levels at CBS.
LEFIC is a virtual center, meaning that members and fellows are located in the departments they belong to. Their primary disciplinary focus is thereby emphasized.
Research focus areas are:
To achieve its mission with respect to research, education and linkages with the business community LEFIC is conducting the following activities:
LEFIC’s areas of interest relate to and overlap with areas of other CBS centers. There is close cooperation with the Center for Corporate Governance and the Center for Credit and Capital Market Law and the proposed Center for Competition.