Download or read book The History of Shareholder Primacy from Adam Smith Through the Rise of Financialism written by Judd F. Sneirson and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Standing in the way of sustainable business efforts is the belief that corporate fiduciaries must work to maximize shareholder wealth at all costs. American corporate law in fact imposes no such obligation, yet shareholder wealth maximization remains a powerful social norm. This chapter explores the history of the shareholder primacy norm, tracing the idea from its inception, to its famous articulation in the classic case of Dodge v. Ford, through the influence of the law and economics movement and the rise of financialism at the end of the last century. The chapter then examines the current debate over shareholder primacy, sustainability, and corporate social responsibility, arguing that shareholder primacy has peaked in the United States and is meeting resistance internationally. A new norm of enlightened stakeholderism, I argue, is on the rise, pursuant to which firms aim to be not just profitable but environmentally and socially responsible, as well.
Download or read book Shareholders and Stakeholders written by Joanne F Sonin and published by Bloomsbury Publishing. This book was released on 2023-09-07 with total page 329 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores the evolution of the shareholder in post-war Britain within the context of changing legal, political, economic, and social conditions. It examines how the post-war transformation of the shareholder body influenced relationships amongst stakeholders, impacting corporate behaviour and the legal and political efforts to govern industry and financial markets. The book addresses a number of themes, including: 1) how the movements for democratisation influenced the treatment of shareholder interests and the calls for stakeholder representation; 2) how the rhetoric of change created a narrative that deflected from the lack of systemic legal reforms and protected the status quo; 3) how, in the post-war consensus environment, political positions on equity ownership de-radicalised, which proved unsustainable against a background of increasing political polarisation and industrial unrest; and 4) how the institutionalisation of the post-war shareholder body had profound effects on industry, the financial markets, and the economy. With these themes as a foundation, the evolutionary arch of the post-war shareholder is examined, focusing on developments that influenced the treatment and perception of shareholder and stakeholder interests, including nationalisations, shareholder democracy, corporate purpose, and industrial democracy. The book further considers how these post-war changes contribute to the post-1979 legal treatment of shareholder and stakeholder interests, including subsequent changes to the Companies Act and the development of corporate governance codes. Parallels to contemporary movements for stakeholder capitalism, corporate purpose, and ESG are drawn. The historical analysis of the post-war shareholder provides a framework for considering current questions on shareholder primacy and the demands for systemic legal reforms. These missed opportunities for meaningful changes to the treatment of shareholder interests in UK company law serve as useful precedents for evaluating subsequent periods.
Download or read book Sustainability in Public Procurement Corporate Law and Higher Education written by Lela Melon and published by Taylor & Francis. This book was released on 2023-12-12 with total page 385 pages. Available in PDF, EPUB and Kindle. Book excerpt: Contemporary changes in law and policy at the global level to efficiently answer to environmental and social issues correspond to the traditional approach of limiting the regulatory and policy changes to a singular field or discipline: tackling the inherent unsustainability of corporate laws or incentivising the offering of sustainable finance to stimulate the transition towards sustainable practices. This book provides a new viewpoint and approach of simultaneously regulating seemingly non-connected fields in order to provide a fertile ground for a truly organic change towards sustainable outcomes. It addresses diverse questions of sustainable transition of the three specific fields to support sustainable practices in public procurement, private market transaction, and in educating future business leaders and legal experts by incorporating sustainable concerns as the underlying guiding principles of their conduct. It translates scientific findings into a practical format that can be used by diverse stakeholders searching for information and solutions in their respective professional fields. The underlying assumption is that a simultaneous action in the three respective fields of public procurement, corporate law, and higher education brings about more coherent and interconnected results that incentivise further action and changes towards sustainable practices. The book furthers the idea of policy coherence by building upon the findings in the field of public procurement, corporate law, and practice and higher education curricula. By identifying the barriers in the three respective fields for sustainable action and proposing solutions for either eliminating or minimising those barriers at the EU level, the book calls for further changes in the respective fields as well as for considering the spillover effects of these policies on other fields.
Download or read book Sustainable Value Creation in the European Union written by Beate Sjåfjell and published by Cambridge University Press. This book was released on 2022-11-30 with total page 347 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume explores the concept of sustainable value creation, presenting readers with a wide-ranging analysis integrating different and interacting disciplines.
Download or read book The Corporation As Technology written by Christopher M. Bruner and published by Oxford University Press. This book was released on 2022 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: Introduction and overview -- Defining the corporation and Corporate Law -- Contextual drivers of difference -- Enduring controversies in Corporate Law -- The corporation as technology -- Corporate pathologies and corporate sustainability -- Re-calibrating governance : industry-by-industry approaches -- Re-imagining corporate accountability -- Conclusions.
Download or read book The Cambridge Handbook of Corporate Law Corporate Governance and Sustainability written by Beate Sjåfjell and published by Cambridge University Press. This book was released on 2019-12-12 with total page 758 pages. Available in PDF, EPUB and Kindle. Book excerpt: The emerging field of corporate law, corporate governance and sustainability is one of the most dynamic and significant areas of law and policy in light of the convergence of environmental, social and economic crises that we face as a global society. Understanding the impact of the corporation on society and realizing its potential for contributing to sustainability is vital for the future of humanity. This Handbook comprehensively assesses the state-of-the-art in this field through in-depth discussion of sustainability-related problems, numerous case studies on regulatory responses implemented by jurisdictions around the world, and analyses of predominant strategies and potential drivers of change. This Handbook will be an essential reference for scholars, students, practitioners, policymakers, and general readers interested in how corporate law and governance have exacerbated global society's most pressing challenges, and how reforms to these fields can help us resolve those challenges and achieve sustainability.
Download or read book Company Law and Sustainability written by Beate Sjåfjell and published by Cambridge University Press. This book was released on 2015-05-21 with total page 373 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book advances an innovative, multi-jurisdictional argument for the necessity of company law reform to reorient companies towards environmental sustainability.
Download or read book Shareholder Empowerment written by Maria Goranova and published by Springer. This book was released on 2015-12-27 with total page 519 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this volume, leading management experts offer critical insights into the promises and illusions of shareholder empowerment, the discrepancies between theory and practice, and the challenges posed by variations in global corporate governance regimes.
Download or read book Foundations of Real World Economics written by John Komlos and published by Routledge. This book was released on 2019-01-11 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 2008 financial crisis, the rise of Trumpism and the other populist movements which have followed in their wake have grown out of the frustrations of those hurt by the economic policies advocated by conventional economists for generations. Despite this, textbooks continue to praise conventional policies such as deregulation and hyperglobalization. This textbook demonstrates how misleading it can be to apply oversimplified models of perfect competition to the real world. The math works well on college blackboards but not so well on the Main Streets of America. This volume explores the realities of oligopolies, the real impact of the minimum wage, the double-edged sword of free trade, and other ways in which powerful institutions cause distortions in the mainstream models. Bringing together the work of key scholars, such as Kahneman, Minsky, and Schumpeter, this book demonstrates how we should take into account the inefficiencies that arise due to asymmetric information, mental biases, unequal distribution of wealth and power, and the manipulation of demand. This textbook offers students a valuable introductory text with insights into the workings of real markets not just imaginary ones formulated by blackboard economists. A must-have for students studying the principles of economics as well as micro- and macroeconomics, this textbook redresses the existing imbalance in economic teaching. Instead of clinging to an ideology that only enriched the 1%, Komlos sketches the outline of a capitalism with a human face, an economy in which people live contented lives with dignity instead of focusing on GNP.
Download or read book Economic Transplants written by Katja Langenbucher and published by Cambridge University Press. This book was released on 2017-10-19 with total page 243 pages. Available in PDF, EPUB and Kindle. Book excerpt: Offers a comprehensive theory on the risks and benefits of incorporating economic theory in capital markets and corporate lawmaking.
Download or read book Social Enterprise Law written by Dana Brakman Reiser and published by Oxford University Press. This book was released on 2017-09-05 with total page 217 pages. Available in PDF, EPUB and Kindle. Book excerpt: Social enterprises represent a new kind of venture, dedicated to pursuing profits for owners and benefits for society. Social Enterprise Law provides tools that will allow them to raise the capital they need to flourish. Social Enterprise Law weaves innovation in contract and corporate governance into powerful protections against insiders sacrificing goals such as environmental sustainability in the pursuit of short-term profits. Creating a stable balance between financial returns and public benefits will allow social entrepreneurs to team up with impact investors that share their vision of a double bottom line. Brakman Reiser and Dean show how novel legal technologies can allow social enterprises to access capital markets, including unconventional sources such as crowdfunding. With its straightforward insights into complex areas of the law, the book shows how a social mission can even be shielded from the turbulence of an acquisition or bankruptcy. It also shows why, as the metrics available to measure the impact of social missions on individuals and communities become more sophisticated, such legal innovations will continue to become more robust. By providing a comprehensive survey of the U.S. laws and a bold vision for how legal institutions across the globe could be reformed, this book offers new insights and approaches to help social enterprises raise the capital they need to flourish. It offers a rich guide for students, entrepreneurs, investors, and practitioners.
Download or read book Comparative Corporate Governance written by Klaus J. Hopt and published by Walter de Gruyter GmbH & Co KG. This book was released on 2015-02-06 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate governance has become an important issue in all industrial economies. This text has grown out of a conference entitled Comparative Corporate Governance, An International Conference, United States - Japan - Western Europe which considered the subject.
Download or read book Handbook of Critical Issues in Finance written by Jan Toporowski and published by Edward Elgar Publishing. This book was released on 2012-01-01 with total page 339 pages. Available in PDF, EPUB and Kindle. Book excerpt: This vital new Handbook is an authoritative volume presenting key issues in finance that have been widely discussed in the financial markets but have been neglected in textbooks and the usual compilations of conventional academic wisdom. A wide range of topics including the recent economic crisis, capital controls, the Franc Zone, quantitative easing and securitization, as well as the key controversies associated with them, are explored and explained in depth by well-known authorities in finance and economics. Designed to complement and expand upon standard textbooks as well as the specialist critical literature on particular topics in finance, this informative Handbook will prove invaluable to academics, researchers and students focusing on economics, finance and heterodox economics.
Download or read book Explaining Financial Scandals written by Vincenzo Bavoso and published by Cambridge Scholars Publishing. This book was released on 2014-07-24 with total page 325 pages. Available in PDF, EPUB and Kindle. Book excerpt: The explosion of the global financial crisis in 2007–08 reignited the urgency to reflect on the origins and causes of financial collapses. As the events in the above period triggered an economic meltdown that is still ongoing, comparisons with the Great Crash of 1929 started to abound. In particular, the externalities that a broad spectrum of societal groups had to bear as a consequence of various banking failures highlighted the necessity of a more inclusive and balanced regulation of firms whose activities impact on a wide range of stakeholders. The book is centred on the proposal of a paradigm, the “enlightened sovereign control”, that provides a theoretical, institutional and substantive framework as a response to the legal issues analysed in the book. These stem primarily from the analysis of two sequences of events (the 2001–03 wave of “accounting frauds” and the 2007–08 global crisis) which represent the background upon which modern financial scandals are explained. This is done by highlighting a number of common denominators emerging from the case studies (Enron and Parmalat, Northern Rock and Lehman Brothers) which all led to financial instability and scandals and illustrated the legal issues identified in the book. The research is grounded on the initial recognition of theoretical themes in the field of corporate and financial law, which eventually link with the more practical events examined. Through this multifaceted approach, the book contends that the occurrence of financial crises during the last decade is essentially rooted in two main problems: a corporate governance one, represented by the lack of effective control systems within large public firms; and a corporate finance one identified with the excesses of financial innovation and related abuses of capital market finance. Research conducted in this book ultimately seeks to contribute to current debates in the areas of corporate and financial law, through the proposals of the “enlightened sovereign control” paradigm.
Download or read book Company Directors written by R. P. Austin and published by . This book was released on 2016-10-14 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Company Directors: Principles of Law and Corporate Governance is a detailed, scholarly and comprehensive analysis of law and governance as they relate to Australian company directors. This updated second edition examines the duties of company directors, remedies for breach of these duties, and the structure and operations of the board of directors, taking into account legislative and case law developments which have occurred since the first edition was published in 2005.Written by highly-respected authors in the field of corporate law, the book also includes expert commentary on corporate governance as it relates to company directors.A new title in the LexisNexis Black and Silver series, this text is divided into three comprehensive parts, covering the structure and powers of company directors, specific duties imposed on directors, and enforcement of duties as well as remedies for breach of directors' duties. Features· Well-written by expert authors in the field· Comprehensive coverage of corporate governance and directors' duties· A highly regarded and authorative practitioner text Related TitlesAustin & Ramsay, Ford, Austin and Ramsay's Principles of Corporations Law, 16th edition, 2014Farrar & Hanrahan, Corporate Governance, 2016Gamertsfelder, Corporate Governance in Financial Services, 2016
Download or read book The Capitalist Mode of Power written by Tim Di Muzio and published by Routledge. This book was released on 2013-08-15 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt: This edited volume offers the first critical engagement with one of the most provocative and controversial theories in political economy: the thesis that capital can be theorized as power and that capital is finance and only finance. The book also includes a detailed introduction to this novel thesis first put forward by Nitzan and Bichler in their Capital as Power. Although endorsing the capital as power argument to varying extents, contributors to this volume agree that a new understanding of capital that radically departs from Marxist and Neoclassical theories cannot be ignored. Offering the first application and appraisal of Nitzan and Bichler’s theory, chapters examine the thesis in the context of energy and global capitalization, US Investment Banks, trade and investment agreements between Canada, the US and Mexico, and multinational corporations in Apartheid South Africa. Balancing theory, methodology and empirical analysis throughout, this book is accessible to new readers, whilst contextualising and advancing the original theoretical debate. The Capitalist Mode of Power will be of interest to students and scholars of International Relations, Political Economy, Globalization and Critical Theory.
Download or read book The Political Economy of the Company written by John Parkinson and published by Bloomsbury Publishing. This book was released on 2001-03-30 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt: Theoretical writing on the company and company law has been dominated in recent years by economics. This collection of essays by a distinguished team of authors drawn from a variety of disciplines seeks to build on the insights of this economic analysis and broaden understanding by examining the company in a wider historical,legal, political, and sociological context. Issues discussed include the attitudes of political parties in the UK to the company, the rise of the non-executive director, institutional activism and stakeholder protection, and the evolution of the nexus of contracts theory of the company. There is also a strong comparative theme, with discussions of the political and sociological context of corporate governance in France, Germany, and Japan, together with developments at the European level.
