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Full-Text Articles in Law
Larry From The Left: An Appreciation, Matthew T. Bodie, Grant M. Hayden
Larry From The Left: An Appreciation, Matthew T. Bodie, Grant M. Hayden
All Faculty Scholarship
This essay approaches the scholarship of the late Professor Larry Ribstein from a progressive vantage point. It argues that Ribstein's revolutionary work upended the "nexus of contracts" theory in corporate law and provided a potential alternative to the regulatory state for those who believe in worker empowerment and anti-cronyism. Progressive corporate law scholars should look to Ribstein's scholarship not as a hurdle to overcome, but as a resource to be tapped for insights about constructing a more egalitarian and dynamic economy.
Varieties Of Employee Ownership: Some Unintended Consequences Of Corporate Law And Labor Law, Aditi Bagchi
Varieties Of Employee Ownership: Some Unintended Consequences Of Corporate Law And Labor Law, Aditi Bagchi
All Faculty Scholarship
Theories of employee ownership implicitly assume that its essential features are the same in all countries. In fact, employee ownership varies considerably across institutional environments. In this paper, I compare its development in the United States, Germany, and Sweden to show that the institutional background - in particular, the existing bodies of corporate and labor law - against which a program of employee ownership arises determines its course. Background institutions determine the cost of worker control over management, the cost of collective decision-making, and the expected gains from risk-bearing. Those consequences of corporate and labor law in turn determine whether …