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Full-Text Articles in Law
Approving Employee Retention And Severance Programs Judicial Discretion Run Amuck, A. Mechele Dickerson
Approving Employee Retention And Severance Programs Judicial Discretion Run Amuck, A. Mechele Dickerson
Faculty Publications
No abstract provided.
Behavioral Approach To Analyzing Corporate Failures, A. Mechele Dickerson
Behavioral Approach To Analyzing Corporate Failures, A. Mechele Dickerson
Faculty Publications
Recent corporate failures indicate that existing laws fail to give boards of directors adequate incentives to acknowledge that some financially troubled firms simply cannot be salvaged. Relying primarily on insights from law and behavioral science literature, this Article notes that directors have a natural tendency to underestimate risks and overestimate their ability to save an insolvent or near insolvent firm. This Article urges the imposition of a duty to file a timely bankruptcy petition because such a duty will encourage directors to consider the interests of all the firms' constituents, including workers, creditors, and the local community, when making decisions …