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" »
Haskell Murray:
Recently, Apple CEO and director, Tim Cook, discussed the company’s commitment to the environment, the blind, and making the world a better place. Cook supposedly told investors:
If you want me to do things only for ...
Continue reading "Can Tim Cook Ignore ROI When Deciding How to Design an iPhone?" »
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 ...
Todd Henderson:
In a recent speech at the Netroots Nation, Senator Al Franken tried to frighten the crowd by trotting out the corporate bogeyman that greedily makes decisions without regard to anything other than profit. Franken told th...
Judd Sneirson makes two claims about the law of corporate social responsibility that I think are incorrect:
The big, recurring debate in corporate social responsibility is between those who think that corporate decisionmakers must ...
Continue reading "Shareholders versus Stakeholders" »
My latest TCS column:
There has been a fair bit of ruminating about corporate cowardice lately. Several technology firms have been criticized lately for agreeing to cooperate with authorities in China. Google's decision to censor its ...
As regular readers of my blog and/or my scholarship 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 Shareholder Activism and Institutional Invest...
In a WSJ op-ed today, Martin Lipton, Jay Lorsch, and Theodore Mirvis opine that:
This week New York Sen. Chuck Schumer is expected to introduce the Shareholder Bill of Rights Act of 2009. The stated goal of the legislation -- "to pri...
In a comment on an earlier post on shareholder activism, reader Pithlord
asks:If I understand your position, it is
that executives should focus solely on shareholder interests, but
shareholders should not have any power to make them d...
Interesting essay argues that:
Right on its 20-year schedule,[1] the old debate over the proper purpose of the corporation has recently been revivified in books, articles, and blog posts in as dire a tone as ever. The spectacular corp...
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