The Michigan legislature recently amended the state’s control share acquisition statute to make it easier for the Taubman family to fend off the hostile bid for Taubman Centers from Simon Property Group and Westfield America Trust (I des...
In today's WSJ, William Galston once again argues that shareholder wealth maximization is (a) not the law and (b) bad social policy. He has made this argument before and he was wrong then and he's still wrong:
[American businessmen] a...
In my last post I discussed the traditional corporate paradigm, which focuses on shareholder wealth maximization. Even with my caveats, I received some push-back. I encourage you to read the thoughtful comments (many arguing against the ...
Yesterday, I had the pleasure of being on a panel with my friend Elizabeth Pollman (Penn) moderated by my friend/coauthor Todd Henderson (Chicago) on the topic Corporate Social Responsibility Revisited, which was part of the Federalist S...
I'm a big fan of Andrew Tuch's work on fiduciary law. His new article is quite interesting:
Abstract Countless high-profile abuses of user data by leading technology companies have raised a basic question: should firms that traffic in...
Stefan Padfield has posted to SSRN a very interesting new paper Corporate Governance and the Omnipresent Specter of Political Bias: The Duty to Calculate ROI:
Abstract Corporate decision-makers are duty-bound to maximize shareholder v...
I got an email from a reader today who asked whether I thought a "proactive stance" on corporate social responsibility would have prevented the Martha Stewart situation. I don't see how, but that may be because I don't really believe in ...
I'm going to be on a panel here at UCLA on Thursday along with several other corporate governance theorists. We've each been given 5 minutes to summarize our theory. Naturally, I'll be talking about director primacy.
Obviously, it will ...
Ted Frank says no:
Not quite, says a study in the Financial Analysts Journal by Rob Bauer and Robin Braun. If a suit is for something other than illegal insider trading, the long-term effects of litigation for shareholders are not ...
Comment by Brett McDonnell on “A Comment on Eric Orts' Comment on the ALI's Restatement of Corporate Purpose”
Posted by: Brett McDonnell | 06/08/2022 at 08:58 AM