ProfessorBainbridge.com

Introducing The Profit Motive

2/ Since the title of the book is "The Profit Motive: : Defending Shareholder Wealth Maximization," there doesn't seem to be much point in hiding the ball behind a pretense of academic objectivity. So here's what I've got. Thoughts? #law...

An abridged case against making it easier for shareholders to sue woke CEOs

As regular readers know, I am not a fan of woke capitalism--particularly when committed by social justice warrior CEOs. But what should we do about it, if anything? I've heard some folks suggest a federal law making it easier for shareh...

My opening remarks at yet another corporate social responsibility panel discussion

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...

No brag. Just fact. We are Persuasive.

Michael J. Vargas, Dodge v. Ford Motor Co. at 100: The Enduring Legacy of Corporate Law's Most Controversial Case, 75 Bus. Law. 2103, 2122 mm. 59 and 64 (2020): Professor Stephen Bainbridge argues persuasively that the business judgme...

Padfield on "the Omnipresent Specter of Political Bias" in Corporate Decision-Making

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...

ESG Voting by Index Funds

There has been a longstanding debate over corporate social responsibility (CSR), which can be defined as “the obligations and inclinations, if any, of corporations organized for profit, voluntarily to pursue social ends that conflict wit...

Is hedge fund activism socially irresponsible; is management resistance socially responsible?

Interesting study: ... we find that employees of target firms that sponsor DB pension plans suffer from greater plan underfunding after HF activism. This finding is consistent with the view that HF activists expropriate wealth from em...

My Tweet to the Business Roundtable Linking My NY Times oped on the importance of the shareholder wealth maximization norm

Contrary to the @BizRoundtable, I believe the arguments I made in my @nytimes oped are still valid and that stakeholderism is a bad idea. https://t.co/vx5bGR6XGt pic.twitter.com/du1dY8j6A1— Professor Bainbridge (@ProfBainbridge) August 1...

Corporate social responsibility and the perennial question of who decides what constitutes being socially responsible

Ann Lipton: Milton Friedman, shareholder primacy’s true north, wrote: In a free-enterprise, private-property system, a corporate executive is an employee of the owners of the business. He has direct responsibility to his employers. T...

The core problem with the Facebook settlement is the lack of individual accountability

Marshall L. Miller and Jeohn Salone Favors of Wachtell, Lipton, Rosen & Katz offer a generally favorable assessment of the settlement between Facebook and the FTC: ... the FTC filed a complaint alleging that Facebook “subverted users’...