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The Proxy Problem: Using Nonprofits To Solve Misaligned Incentives In The Proxy Voting Process, Leah Duncan
The Proxy Problem: Using Nonprofits To Solve Misaligned Incentives In The Proxy Voting Process, Leah Duncan
Michigan Business & Entrepreneurial Law Review
Proxy advisory firms and their influence on the proxy voting process have recently become the subject of great attention for the Securities and Exchange Commission (“SEC”) among other constituencies. A glance at recent proxy season recaps and reports, many of which devote space to discussing proxy advisory firm recommendations, reveal the significance of this influence on institutional voting. As Sagiv Edelman puts it, “proxy advisory firms exist at the nexus of some of the most high-profile corporate law discussions—most notably, the shareholder voting process, which has recently been the subject of much scholarly and legal debate.” The SEC has responded …
The Compliance Case For Social Enterprise, Joseph W. Yockey
The Compliance Case For Social Enterprise, Joseph W. Yockey
Michigan Business & Entrepreneurial Law Review
Social enterprises generate revenue to solve social, humanitarian, and ecological problems. Their products are not a means to the end of profits, but rather profits are a means to the end of their production. This dynamic presents many of the same corporate governance issues facing other forprofit firms, including legal compliance. The author contends, however, that traditional strategies for corporate compliance are incongruent to the social enterprise’s unique normative framework. Specifically, traditional compliance theory, with its prioritization of shareholder interests, stands at odds with the social enterprise’s mission-driven purpose. Attention to this distinction is essential for developing effective compliance and …
Enhancing The Legal And Regulatory Environment For Investment In Social Enterprise, Dilpreet K. Minhas
Enhancing The Legal And Regulatory Environment For Investment In Social Enterprise, Dilpreet K. Minhas
Michigan Business & Entrepreneurial Law Review
The objectives of this Note are: 1) to provide readers interested in social enterprise and entrepreneurship an introduction to these endeavors and the growing trend toward using them; 2) to present the challenges stemming from the legal and financial frameworks surrounding social investment activity, which can inhibit the survival and growth of social enterprises; and 3) to propose suggestions for addressing such challenges and limitations in order to better support the survival of social enterprise. Part II and Part III provide a broad perspective of the types of investment in and nurturing of social entrepreneurship in the U.S. Part IV …