The Seattle University Law Review recently published a symposium devoted to a 15 year retrospective on Margaret Blair and Lynn Stout’s article A Team Production Theory of Corporate Law. Deservedly so. It was a provocative article that ad...
Continue reading "The Case Against Blair & Stout's Team Production Model" »
There's a post on naked capitalism by Yves Smith entitled How Milton Friedman Fomented the Barmy “Corporations Exist to Maximize Shareholder Value” Myth making the rounds, which I find wholly unpersuasive. Let's parse (quotes from Smith ...
As regular readers of my blog and/or my sc
holarship know, I am a skeptic of shareholder activism. I doubt
both whether it's very important and whether it is a good idea. See,
e.g., my article Shareh
older Activism and Institutional In...
Reuters reports:In few other places on Earth are stars pampered the way they are in Hollywood. Jewelers want to loan them diamonds, developers want to give them houses, and studios want to cater to their every whimYet, we recently studio...
I've been kicking around corporate philanthropy with a friend and fellow corporate law academic. For what it's worth, I think I offer a pretty good summary of the state of the law in my book on Corporate Law:
The law’s basic position on...
Continue reading "The Law and Economics of the “Special” Problem of Corporate Philanthropy" »
I had been planning on writing a law review article on fee shifting bylaws, but I suspect that events will overtake the inevitably lengthy publishing process. This seems to be one of those times when blog publishing is the most effective...
Continue reading "The case for allowing fee shifting bylaws as a privately ordered solution to the shareholder litigation epidemic" »
The PowerPoint deck posted here was used in a lecture I gave last night at The University of Auckland. The talk was based on my paper, Director versus Shareholder Primacy in New Zealand Company Law as Compared to U.S.A. Corporate Law, wh...
I have just finished a new article, Director versus Shareholder Primacy in New Zealand Company Law as Compared to U.S.A. Corporate Law (March 26, 2014). which is now available at SSRN. The abstract follows:
Any model of corporate govern...
In her principal speech during her recent successful campaign to become the United Kingdom's new Prime Minister, Theresa May said a lot of things that as a corporate governance thinker I have very serious doubts about. Let's start with h...
Continue reading "British PM's Theresa May's proposal to put workers on company boards" »
As noted yesterday, I agree with JW Verret that one effect of the pending federal Wall Street reform legislation likely will be to encourage Delaware lawyers now need to turn their attention to thinking up "structural defenses could viab...
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