Journal of Law and Financial Managment, Editorial, Volume 6 (1) June 2007

Abstract

This year marks the 6th anniversary of the Journal of Law & Financial Management. The journal was founded in the immediate aftermath of the dot com crash and in an atmosphere of high turbulence and uncertainty. A series of large scale corporate collapses and revelations of accounting fraud, regulatory arbitrage and dangerous voids in existing regulatory and governance regimes had resulted in a heightened focus on the need for reform. Today’s climate may be characterised by the emergence of similar themes, with developments in the U.S subprime lending market giving the appearance of a potential source of profound trouble going forward.

While many previous editions of the journal have been given over to contemplation of “big picture” regulatory and legal issues, and their financial implications, this edition consists of a series of papers focused on an investor perspective, with a strong recognition of the role that taxation and taxation effects can have on outcomes.

Peter Phillips has contributed a highly insightful article on self managed superannuation funds, a topic guaranteed to generate more discussion as time goes on. Tom Valentine revisits vital questions pertaining to gearing and negative gearing in an investment context, whilst Gordon Mackenzie and Geoffrey Hart investigate the under researched area of finance lease taxation.

Keywords: finance, law

JEL Classification: M40, M41