Jesse M. Fried
Boalt Hall School of Law, U.C. Berkeley

An earlier version of this paper, entitled "Liberalizing Share Repurchase Rules Around the World: Lessons from the U.S," was presented at the Cegla Institute's conference on Protecting Investors in a Global Economy, held at the Tel Aviv University Law School in June 2000. I would like to thank Lucian Bebchuk, Eli Bukspan, Steve Choi, Mel Eisenberg, Merritt Fox, Zohar Goshen, Howell Jackson, Amir Licht, Joe McCahery, Ed Rock, Roberta Romano, Alan Schwartz, Omri Yadlin, and other participants at the conference for their helpful comments. I am especially grateful to Lucian Bebchuk, Steve Choi, Andrew Guzman, and Omri Yadlin for very useful discussions on subsequent drafts of the paper. Ben Shreck and Matthew McDermott provided valuable research assistance. My work on this project was supported by the Boalt Hall Fund.