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The Future Of Corporate Federalism: State Competition And The New Trend Toward De Facto Federal Minimum Standards, John C. Coffee Jr.
The Future Of Corporate Federalism: State Competition And The New Trend Toward De Facto Federal Minimum Standards, John C. Coffee Jr.
Faculty Scholarship
What sensible compromise can be struck between Bill Cary's and Ralph Winter's views of the competition among states for corporate charters? This is the relevant question to ask in response to Professor Romano's stimulating paper, because if one ends in an intermediate position between Cary and Winter (as she does and as I do), then one needs to focus on the protections shareholders should be accorded both to protect them from exploitation at the hands of a state pursuing tax revenues and from excessive regulation by a state whose regulatory efforts are intended in fact to realize ulterior objectives unrelated …