Reconstructing the corporation : from shareholder primacy to shared governance / Grant M. Hayden, Hofstra University School of Law; Matthew T. Bodie, Saint Louis University School of Law.
2020
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Details
Author
Hayden, Grant M., author.
Title
Reconstructing the corporation : from shareholder primacy to shared governance / Grant M. Hayden, Hofstra University School of Law; Matthew T. Bodie, Saint Louis University School of Law.
Added Author
Bodie, Matthew, author.
Imprint
Cambridge, United Kingdom ; New York, NY, USA : Cambridge University Press, 2020.
Description
1 online resource (xiii, 274 pages)
Formatted Contents Note
Introduction
Preference Aggregation in Political Institutions
Preference Aggregation in Corporations
The Corporation as Contract
Shareholder Homogeneity
The Argument from the Residual
The Argument from Arrow's Theorem
The Shareholder Franchise and Board Primacy
A Firm-Based Approach to Corporate Voting Rights
Democratic Participation and Shared Governance
The German Codetermination Experience
Conclusion.
Preference Aggregation in Political Institutions
Preference Aggregation in Corporations
The Corporation as Contract
Shareholder Homogeneity
The Argument from the Residual
The Argument from Arrow's Theorem
The Shareholder Franchise and Board Primacy
A Firm-Based Approach to Corporate Voting Rights
Democratic Participation and Shared Governance
The German Codetermination Experience
Conclusion.
Summary
"Modern corporations contribute to a wide range of contemporary problems, including income inequality, global warming, and the influence of money in politics. Their relentless pursuit of profits, though, is the natural outcome of the doctrine of shareholder primacy. As the consensus around this doctrine crumbles, it has become increasingly clear that the prerogatives of corporate governance have been improperly limited to shareholders. It is time to examine shareholder primacy and its attendant governance features anew, and reorient the literature around the basic purpose of corporations. This book critically examines the current state of corporate governance law and provides decisive rebuttals to longstanding arguments for the exclusive shareholder franchise. Reconstructing the Corporation presents a new model of corporate governance - one that builds on the theory of the firm as well as a novel theory of democratic participation - to support the extension of the corporate franchise to employees."
Bibliography, etc. Note
Includes bibliographical references and index.
Linked Resources
Access provided by Berkeley Law Library
Course Lists
The Corporation: Past, Present and Future by Baker (FALL 2024)
Alternate Title
Cambridge Core
Language
English
ISBN
9781316481325 electronic book
1316481328 electronic book
9781316502914 electronic book
1316502910 electronic book
1316481328 electronic book
9781316502914 electronic book
1316502910 electronic book
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Electronic Resources
Electronic Resources