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Full-Text Articles in Law
The Stakeholder Strategy, Kent Greenfield
Are Shareholders Owners?, Kent Greenfield
The Wobbly Legal Arguments Against Dodd-Frank, Kent Greenfield
The Wobbly Legal Arguments Against Dodd-Frank, Kent Greenfield
Kent Greenfield
No abstract provided.
Unconscionability And Consent In Corporate Law (A Comment On Cunningham), Kent Greenfield
Unconscionability And Consent In Corporate Law (A Comment On Cunningham), Kent Greenfield
Kent Greenfield
Lawrence Cunningham has written an insightful and persuasive article calling on courts to apply the contract-law doctrine of unconscionability in evaluating executive compensation. According to Cunningham, this additional doctrinal tool will allow courts to engage in genuine and meaningful oversight of excessive compensation. He argues that such oversight is valuable because existing corporate-law doctrine too often prompts courts to defer too much and too often to management’s decisions. Cunningham’s argument is modest yet impactful. It is modest in that it simply proposes that courts take account of a well-established area of contract law to analyze and evaluate the compensation contracts …
The Puzzle Of Short-Termism, Kent Greenfield
The Puzzle Of Short-Termism, Kent Greenfield
Kent Greenfield
From the Introduction: When pondering the question of the “sustainable corporation,” as we did in this symposium, one of the intractable problems is the nature of the corporation to produce externalities. By noting this characteristic, I am not making a moral point but an economic one. The nature of the firm is to create financial wealth by producing goods and services for profit; without regulatory or contractual limits, the firm has every incentive to externalize costs onto those whose interests are not included in the firm’s current financial calculus. In fact, because of the corporation’s tendency to create benefits for …