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Full-Text Articles in Law

The Duty Of Corporate Directors To Tie Executive Compensation To The Long-Term Sustainability Of The Firm, Alberto Salazar, Muthana Mohamed Jan 2016

The Duty Of Corporate Directors To Tie Executive Compensation To The Long-Term Sustainability Of The Firm, Alberto Salazar, Muthana Mohamed

Osgoode Legal Studies Research Paper Series

Executive compensation is said to be for performance and, in liberal market economies, the board of directors along with compensation committees have largely been in charge of safeguarding pay for performance. This executive compensation system is legally protected by the business judgment rule (a strong judicial deference) and has recently been supplemented with shareholders’ ‘say on pay’. Further legal or government intervention has been deemed unnecessary. However, such system has resulted in extremely excessive executive compensation, outrageous pay disparities between executives and workers, poor or short-term performance, recurrent corporate failures and economic recession. This paper explores the need for a ...


Accessory Disloyalty: Comparative Perspectives On Substantial Assistance To Fiduciary Breach, Deborah A. Demott Jan 2016

Accessory Disloyalty: Comparative Perspectives On Substantial Assistance To Fiduciary Breach, Deborah A. Demott

Faculty Scholarship

Culpable participation in a fiduciary's breach of duty is independently wrongful. Much about this contingent form of liability is open to dispute. In the United States, well-established general doctrine defines the elements requisite to establishing accessory liability, which is categorized as a tort and often referred to as "aiding-and abetting" liability. What's controversial is how the tort applies to particular categories of actors, most recently investment banks that advise boards of target companies in M&A transactions. In the United Kingdom, in contrast, accessory liability in connection with a breach of trust or fiduciary duty is controversial because ...


Stock-Market Law And The Accuracy Of Public Companies’ Stock Prices, Kevin S. Haeberle Jan 2015

Stock-Market Law And The Accuracy Of Public Companies’ Stock Prices, Kevin S. Haeberle

Faculty Publications

The social benefits of more accurate stock prices—that is, stock-market prices that more accurately reflect the future cash flows that companies are likely to produce—are well established. But it is also thought that market forces alone will lead to only a sub-optimal level of stock-price accuracy—a level that fails to obtain the maximum net social benefits, or wealth, that would result from a higher level. One of the principal aims of federal securities law has therefore been to increase the extent to which the stock prices of the most important companies in our economy (public companies) contain ...


Corporate Governance And Social Welfare In The Common Law World, David A. Skeel Jr. Jan 2014

Corporate Governance And Social Welfare In The Common Law World, David A. Skeel Jr.

Faculty Scholarship at Penn Law

The newest addition to the spate of recent theories of comparative corporate governance is Corporate Governance in the Common-Law World: The Political Foundations of Shareholder Power, an important new book by Christopher Bruner. Focusing on the U.S., the U.K., Canada and Australia, Bruner argues that the robustness of the country’s social welfare system is the key determinant of the extent to which its corporate governance is shareholder-centered. This explains why corporate governance is so shareholder-oriented in the United Kingdom, which has universal healthcare and generous unemployment benefits, while shareholders’ powers are more attenuated in the United States ...


The Crucial But (Potentially) Precarious Position Of The Chief Compliance Officer, Deborah A. Demott Jan 2013

The Crucial But (Potentially) Precarious Position Of The Chief Compliance Officer, Deborah A. Demott

Faculty Scholarship

This Article, written for a symposium on compliance issues in financial-services firms, focuses on the role of the chief compliance officer (“CCO”). Contrasting the position with that held by a firm’s general counsel or Chief Legal Officer (CLO), the article argues that a CCO’s position holds distinct challenges. Additionally, although internal compliance systems and personnel may be characterized as functional substitutes for external regulation, assessing the strengths and weaknesses of internal compliance requires a willingness to look deep within firms. The article argues that the law and regulation may enhance firms’ incentives to invest in effective internal compliance ...


Internal Compliance Officers In Jeopardy?, Deborah A. Demott Jan 2013

Internal Compliance Officers In Jeopardy?, Deborah A. Demott

Faculty Scholarship

No abstract provided.


Corporate Governance: The Swedish Solution, George W. Dent Jan 2012

Corporate Governance: The Swedish Solution, George W. Dent

Faculty Publications

Sweden has changed its corporate governance system by delegating the nomination of corporate directors (and thus, in effect, ultimate control) to committees typically comprising representatives of each company’s largest shareholders. This system gives shareholders a degree of power “that only the most daring corporate governance initiatives in the rest of the world could even imagine.” By all accounts the change has been successful; no one is complaining about it.

In the United States investors have long been kept weak in corporate governance for fear that giving them a major role would damage corporations in numerous ways. The Swedish experience ...


Bank Mergers In North America: Comparing The Approaches In The United States And Canada, Eric J. Gouvin Jan 2005

Bank Mergers In North America: Comparing The Approaches In The United States And Canada, Eric J. Gouvin

Faculty Scholarship

This Article provides a summary comparison of the processes in the United States and Canada for governmental approval of bank mergers. The topic came to prominence in 1998 when four of Canada's five largest banks unveiled plans that would have resulted in the Royal Bank of Canada merging with the Bank of Montreal and the Toronto Dominion Bank combining with the Canadian Imperial Bank of Commerce ("CIBC"). These proposed mergers were rejected by the then Finance Minister, Paul Martin. The reasons given included: (1) the resulting banking industry structure would have concentrated too much economic power in the hands ...


Conflicts In The Regulation Of Hostile Business Takeovers In The United State And The European Union, Barbara Ann White Oct 2003

Conflicts In The Regulation Of Hostile Business Takeovers In The United State And The European Union, Barbara Ann White

All Faculty Scholarship

This essay focuses on hostile business takeovers to illustrate the significance that cultural differences among nations can play in developing a harmonized European Union law. After 12 years of development, the EU Directive regulating hostile takeovers, to everyone’s surprise, was voted down in the EU Parliament in 2001. The EU Parliament consists of the member nations and the movement to defeat the Directive was led by Germany, which had just suffered a brutal hostile takeover of its largest company by British raiders.

The “harmonization” efforts within the EU (i.e., establishing uniform laws among the member nations) mirrors the ...


Regionalized Water Management: An Evolving Hydrocommons?, Gary D. Weatherford Jun 2000

Regionalized Water Management: An Evolving Hydrocommons?, Gary D. Weatherford

Water and Growth in the West (Summer Conference, June 7-9)

26 pages.

Contains footnotes and 8 pages of references.


Nebraska V. Wyoming: The End Or Collaboration?, Wendy Weiss, James Montgomery Jun 1999

Nebraska V. Wyoming: The End Or Collaboration?, Wendy Weiss, James Montgomery

Strategies in Western Water Law and Policy: Courts, Coercion and Collaboration (Summer Conference, June 8-11)

13 pages.

Contains footnotes.


The Esa: Oil And Water?, Joseph L. Sax Jun 1999

The Esa: Oil And Water?, Joseph L. Sax

Strategies in Western Water Law and Policy: Courts, Coercion and Collaboration (Summer Conference, June 8-11)

4 pages.


Federal Water Rights In The Snake River Basin Adjudication, Michael A. Gheleta Jun 1999

Federal Water Rights In The Snake River Basin Adjudication, Michael A. Gheleta

Strategies in Western Water Law and Policy: Courts, Coercion and Collaboration (Summer Conference, June 8-11)

34 pages (includes maps).


Basin-Wide Adjudications In The West: What Works, What Doesn’T?, Ramsey L. Kropf Jun 1999

Basin-Wide Adjudications In The West: What Works, What Doesn’T?, Ramsey L. Kropf

Strategies in Western Water Law and Policy: Courts, Coercion and Collaboration (Summer Conference, June 8-11)

18 pages.

Contains 2 pages of references.


State Primacy, Federal Consistency Or Federal-State Consensus: Can Cooperative Federalism Models From Other Laws Save The Public Lands?, Hope M. Babcock Oct 1995

State Primacy, Federal Consistency Or Federal-State Consensus: Can Cooperative Federalism Models From Other Laws Save The Public Lands?, Hope M. Babcock

Challenging Federal Ownership and Management: Public Lands and Public Benefits (October 11-13)

18 pages.

Contains references.


Charging Public Land Users For Recreational Uses, Chip Dennerlein Oct 1995

Charging Public Land Users For Recreational Uses, Chip Dennerlein

Challenging Federal Ownership and Management: Public Lands and Public Benefits (October 11-13)

11 pages.


The Benefits Of Professional Public Land Management, Elizabeth Estill Oct 1995

The Benefits Of Professional Public Land Management, Elizabeth Estill

Challenging Federal Ownership and Management: Public Lands and Public Benefits (October 11-13)

13 pages (includes illustration).

Contains references.


International Arbitration And Procedures To Enforce Awards In The Relationship Between The United States And Germany, Michael Kronenburg Jan 1995

International Arbitration And Procedures To Enforce Awards In The Relationship Between The United States And Germany, Michael Kronenburg

LLM Theses and Essays

Arbitration has long been regarded as a process that combines finality of decision with speed, low expense, and flexibility in solving problems. For these reasons, arbitration is often favored over litigation for dispute resolution. Particularly in international cases, a businessman may avoid litigation in a foreign country for various reasons: he may be unfamiliar with the proceedings; he may be afraid to find a “forum hostile” because of the different legal and cultural background of the judges; and he may wish to avoid the uncertainty concerning the law arising from the contract. Arbitration proceedings have been held constitutional by the ...


The Corporate Officer's Independent Duty As A Tonic For The Anemic Law Of Executive Compensation, Douglas C. Michael Jul 1992

The Corporate Officer's Independent Duty As A Tonic For The Anemic Law Of Executive Compensation, Douglas C. Michael

Law Faculty Scholarly Articles

History repeats itself in the law as in other arenas. In the law of executive compensation, such a repetition may be imminent. Ever since the advent of the large industrial corporation in the United States, there has been periodic outrage at payments made to its top executives. This repetition suggests that the law has failed to keep pace with the observed problems. Part I of this Article describes the current and historic uproar over executive compensation in large corporations in the United States. Part II provides the economic background of the process of negotiating executive compensation. Part III analyzes the ...


Legitimacy, Accountability, And Partnership: A Model For Advocacy On Third World Environmental Issues, David A. Wirth Jul 1991

Legitimacy, Accountability, And Partnership: A Model For Advocacy On Third World Environmental Issues, David A. Wirth

Boston College Law School Faculty Papers

To date, there has been little effort to define the characteristics of responsible environmental reform efforts by private citizens and organizations in the United States on foreign environmental problems, such as the quality of foreign aid. Moreover, there have been virtually no attempts to identify a principled role for American lawyers in Third World environmental issues. This Essay will respond to these lacunae by articulating a new approach to advocacy based on a partnership model. In Part I, this Essay identifies the need for American public interest advocates to establish partnerships with directly affected groups on Third World environmental issues ...


Diligence Requirements Under The Federal Coal Leasing Amendments Act Of 1975, Gail L. Wurtzler Jun 1985

Diligence Requirements Under The Federal Coal Leasing Amendments Act Of 1975, Gail L. Wurtzler

Public Lands Mineral Leasing: Issues and Directions (Summer Conference, June 10-11)

51 pages.

Contains references.


Readjustment Of Federal Coal Leases, Marilyn S. Kite Jun 1985

Readjustment Of Federal Coal Leases, Marilyn S. Kite

Public Lands Mineral Leasing: Issues and Directions (Summer Conference, June 10-11)

19 pages.

Contains references.


Getting The Coal Leasing Program Back On Track: The Linowes Commission And Beyond, Sandra L. Blackstone Jun 1985

Getting The Coal Leasing Program Back On Track: The Linowes Commission And Beyond, Sandra L. Blackstone

Public Lands Mineral Leasing: Issues and Directions (Summer Conference, June 10-11)

37 pages.

Contains 2 pages of references.


Leases For Other Minerals: Recent Developments, Thomas F. Cope Jun 1985

Leases For Other Minerals: Recent Developments, Thomas F. Cope

Public Lands Mineral Leasing: Issues and Directions (Summer Conference, June 10-11)

14 pages.

Contains references.


State And Local Regulation Affecting Public Lands Mineral Lease Activities: What Are The Limits?, Lawrence J. Macdonnell Jun 1985

State And Local Regulation Affecting Public Lands Mineral Lease Activities: What Are The Limits?, Lawrence J. Macdonnell

Public Lands Mineral Leasing: Issues and Directions (Summer Conference, June 10-11)

27 pages.

Contains references.


The Federal Coal Leasing Program, John Latz Jun 1985

The Federal Coal Leasing Program, John Latz

Public Lands Mineral Leasing: Issues and Directions (Summer Conference, June 10-11)

22 pages (includes 1 illustration and 1 map).

Contains 3 pages of references.


Current Developments In Public Lands Administration, Lawrence G. Mcbride Jun 1985

Current Developments In Public Lands Administration, Lawrence G. Mcbride

Public Lands Mineral Leasing: Issues and Directions (Summer Conference, June 10-11)

24 pages.


Pitfalls In Federal Oil And Gas Leasing Practice, Terry N. Fiske Jun 1985

Pitfalls In Federal Oil And Gas Leasing Practice, Terry N. Fiske

Public Lands Mineral Leasing: Issues and Directions (Summer Conference, June 10-11)

13 pages.

Contains references.


Federal Lands Leasing Policy In The Second Reagan Administration, Robert F. Burford Jun 1985

Federal Lands Leasing Policy In The Second Reagan Administration, Robert F. Burford

Public Lands Mineral Leasing: Issues and Directions (Summer Conference, June 10-11)

11 pages.


Environmental Considerations In Public Lands Mineral Leasing And Development I, Karin P. Sheldon Jun 1985

Environmental Considerations In Public Lands Mineral Leasing And Development I, Karin P. Sheldon

Public Lands Mineral Leasing: Issues and Directions (Summer Conference, June 10-11)

18 pages.

Contains 2 pages of references.