Shareholder Empowerment: Bebchuk Replies to Strine and Bainbridge

Last year, Harvard Law Professor Lucian Bebchuk published a paper in the Harvard Law Review proposing increasing corporate shareholder power:

• Lucian Bebchuk, The Case for Increasing Shareholder Power

The Harvard Law Review then asked Delaware Vice Chancellor Leo Strine and yours truly to respond:

• Leo Strine Jr., Towards a True Corporate Republic: A Traditionalist Response to Lucian's Solution for Improving Corporate America
• Stephen Bainbridge, Director Primacy and Shareholder Disempowerment

These papers were reviewed in The Economist in its March 9th issue.

Bebchuk has now made available a reply to Leo's and my papers, which will also be published in the Harvard Law Review:

• Lucian Bebchuk, Letting Shareholders Set the Rules

Traditionally, since the Law Review decided that Lucian would get the last word, that would be the end of it. One of the great advantages of having a blog is that I can get the last word. Expect detailed replies to Lucian's arguments in the next couple of weeks. In the meanwhile, just getting these articles read should keep you busy for now.