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Impact Investing As A Form Of Lobbying And Its Corporate-Governance Effects, Andrzej Rapaczynski
Impact Investing As A Form Of Lobbying And Its Corporate-Governance Effects, Andrzej Rapaczynski
Faculty Scholarship
Impact investment is attractive to many because it seems to combine support for progressive causes with an apparent commitment to the principles of a market economy. In fact, however, a rational impact investor is not simply creating demand for certain types of corporate actions; he/she is attempting to use corporate governance mechanisms to influence fiduciary decisions of the management. The cost of this tactic for the health of the capitalist economy is potentially very considerable. The American capitalist system relies heavily on a relatively fragile corporate governance arrangement in which the agency problems of a modern corporation are minimized by …
The Unenforceable Corrupt Contract: Corruption And Nineteenth Century Contract Law, Zephyr Teachout
The Unenforceable Corrupt Contract: Corruption And Nineteenth Century Contract Law, Zephyr Teachout
Faculty Scholarship
This paper explores the 19th century practice of courts refusing to enforce "corrupt" contracts as against public policy.