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Articles 1 - 8 of 8
Full-Text Articles in Business
Is Corporate Law Nonpartisan?, Ofer Eldar, Gabriel V. Rauterberg
Is Corporate Law Nonpartisan?, Ofer Eldar, Gabriel V. Rauterberg
Articles
Only rarely does the United States Supreme Court hear a case with fundamental implications for corporate law. In Carney v. Adams, however, the Supreme Court had the opportunity to address whether the State of Delaware’s requirement of partisan balance for its judiciary violates the First Amendment. Although the Court disposed of the case on other grounds, Justice Sotomayor acknowledged that the issue “will likely be raised again.” The stakes are high because most large businesses are incorporated in Delaware and thus are governed by its corporate law. Former Delaware governors and chief justices lined up to defend the state’s “nonpartisan” …
Shareholder Engagement In The United States, Vikramaditya S. Khanna
Shareholder Engagement In The United States, Vikramaditya S. Khanna
Book Chapters
Shareholder voting and engagement in the US have undergone substantial changes over the last 50 years. They have moved from being relatively sleepy issues to those that trigger insomnia in even the most hardened executives. The changes in the ownership structure of US publicly traded firms are probably the most important reason for the shift, but so too are rule changes that have facilitated greater shareholder activism. This chapter explores these developments while describing the rules of the road for shareholder voting in the US by focusing on Delaware jurisprudence and changes in US federal securities regulations. It also examines …
Controlling Externalities: Ownership Structure And Cross-Firm Externalities, Dhammika Dharmapala, Vikramaditya S. Khanna
Controlling Externalities: Ownership Structure And Cross-Firm Externalities, Dhammika Dharmapala, Vikramaditya S. Khanna
Law & Economics Working Papers
In recent years, debates over the social purpose of corporations have taken center stage amidst rising concern about externalities (such as those associated with climate change and harmful speech) generated by firms. A key motivation is the claim that government regulation and liability regimes appear not to be functioning sufficiently well to force firms to internalize these externalities. There is thus rising interest in exploring alternative mechanisms. In particular, a rapidly growing body of scholarship argues that index funds increasingly approximate diversified “universal owners” with incentives to maximize portfolio value (and thus to internalize cross-firm externalities). However, much of this …
Introduction To The Symposium On Soft And Hard Law On Business And Human Rights, Steven R. Ratner
Introduction To The Symposium On Soft And Hard Law On Business And Human Rights, Steven R. Ratner
Articles
This symposium turns to a major debate within a field of international law that has moved from the periphery to center stage in just a few decades—business and human rights, or BHR: Can and should international law's approach to the human rights impacts of business activity shift from today's mostly soft-law framework to a multilateral treaty regime? While advocates for and against such a treaty debate this point at the UN Human Rights Council and other venues, this symposium examines the problem from four theoretical perspectives. Each contribution offers insights for practitioners and scholars alike, but they suggest no easy …
The Hague Rules On Business And Human Rights Arbitration, Bruno Simma, Diane Desierto, Martin Doe Rodriguez, Jan Eijsbouts, Ursula Kriebaum, Pablo Lumerman, Abiola Makinwa, Richard Meeran, Sergio Puig, Steven Ratner, Giorgia Sangiuolo, Martijn Scheltema, Anne Van Aaken, Katerina Yiannibas
The Hague Rules On Business And Human Rights Arbitration, Bruno Simma, Diane Desierto, Martin Doe Rodriguez, Jan Eijsbouts, Ursula Kriebaum, Pablo Lumerman, Abiola Makinwa, Richard Meeran, Sergio Puig, Steven Ratner, Giorgia Sangiuolo, Martijn Scheltema, Anne Van Aaken, Katerina Yiannibas
Other Publications
The Hague Rules on Business and Human Rights Arbitration provide a set of procedures for the arbitration of disputes related to the impact of business activities on human rights. The Hague Rules are based on the Arbitration Rules of the United Nations Commission on International Trade Law (with new article 1, paragraph 4, as adopted in 2013) (the “UNCITRAL Rules”), with modifications needed to address certain issues likely to arise in the context of business and human rights disputes. Each article is accompanied by a commentary, which includes background on the drafting of various provisions in the Rules, explaining in …
Big Data In Finance: Highlights From The Big Data In Finance Conference Hosted At The University Of Michigan October 27-28, 2016, Michael S. Barr, Brian Koziara, Mark D. Flood, Alfred Hero, H. V. Jagadish
Big Data In Finance: Highlights From The Big Data In Finance Conference Hosted At The University Of Michigan October 27-28, 2016, Michael S. Barr, Brian Koziara, Mark D. Flood, Alfred Hero, H. V. Jagadish
Law & Economics Working Papers
How can financial data be made more accessible and more secure, as well as more useful to regulators, market participants, and the public? As new data sets are created, opportunities emerge. Vast quantities of financial data may help identify emerging risks, enable market participants and regulators to see and better understand financial networks and interconnections, enhance financial stability, bolster consumer protection, and increase access to the underserved. Data can also increase transparency in the financial system for market participants, regulators and the public. These data sets, however, can raise significant questions about security and privacy; ensuring data quality; protecting against …
Do International Organisations Play Favourites? An Impartialist Account, Steven Ratner
Do International Organisations Play Favourites? An Impartialist Account, Steven Ratner
Book Chapters
The recent turn of politics and philosophy to serious appraisals of international law is welcome news for politics, ethics and law. Politics can offer us rich description of the international landscape – the actors and their policies, conflicts and approaches to overcoming them; and political and moral philosophy can produce reasoned prescription for devising a just world order. But international law is a critical bridge between them, for law, with its grounding in the institutional arrangements devised by global actors, provides a path to implementing theories of the right or of the good. Just as scholars of politics have realised …
Business, Steven R. Ratner
Business, Steven R. Ratner
Book Chapters
This chapter seeks to expose some of the divergences between doctrine and reality, and to suggest ways of understanding the field that take proper account of business. It does so first by examining the roles and goals of business entities with respect to international environmental law. It then examines how international law has accommodated the place of business in environmental policy with respect to two key issues: (1) corporations as the target of legal obligations; and (2) corporations as participants in the process of international environmental law, particularly with respect to law-making and implementation. I conclude with some thoughts regarding …