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Full-Text Articles in Law
The Hidden Costs Of Private Benefits Of Control: Value Shift And Efficiency, Hyun-Chul Lee
The Hidden Costs Of Private Benefits Of Control: Value Shift And Efficiency, Hyun-Chul Lee
Hyun-Chul Lee
This paper relates the two regimes governing control transfer to the adverse impacts that private benefits of control have on IPOs. Merely the value-transfer nature of private benefits alone may stymie efficient IPOs because of the wedge between the discount for private benefits in pricing and what the initial owner will eventually capture. Irrelevance of the value-shift nature to the initial owner’s payoffs serves efficient IPOs. This paper shows separate mechanisms by which the two rules generate such wedge. The Market Rule allows increase in private benefits via control transfer, causing discount with maximum ceiling of private benefits. To offset …
Corporations As Cities: Targeting The Nodes In Overlapping Networks,, Claire Moore Dickerson
Corporations As Cities: Targeting The Nodes In Overlapping Networks,, Claire Moore Dickerson
Claire Moore Dickerson
Conceptualizing corporations as combinations of interrelated networks helps to identify the persons within the institution who are most able to influence change of policy.
Public Company Shareholders Acting As Owners: Three Reforms--Introducing The "Oversight Shareholder" (With E. Fogel & D. Addis), Edward C. Harris
Public Company Shareholders Acting As Owners: Three Reforms--Introducing The "Oversight Shareholder" (With E. Fogel & D. Addis), Edward C. Harris
Edward C. Harris
No abstract provided.
Race, Corporate Law, And Shareholder Value, Thomas W. Joo
Race, Corporate Law, And Shareholder Value, Thomas W. Joo
Thomas W Joo
Racial justice is becoming a taboo subject, which often has to be explained and justified in nominally “race-neutral” terms. The rhetorical strategy of linking diversity to the bottom line is potentially powerful in the current political and cultural climate. But the strategy also has limitations and costs. It is not clear that diversity and improved corporate performance always go hand in hand. Furthermore, as a matter of corporate law doctrine, even strong evidence of a correlation between the two would not necessarily constitute a basis to compel corporations to take any action to further racial justice. Finally, there is a …
Adr And The 'Vanishing Trial': The Growth And Impact Of 'Alternative Dispute Resolution', Thomas J. Stipanowich
Adr And The 'Vanishing Trial': The Growth And Impact Of 'Alternative Dispute Resolution', Thomas J. Stipanowich
Thomas J. Stipanowich
In the past quarter-century, significant changes have occurred in the ways lawyers approach conflict. There have been unprecedented efforts to develop strategies aimed at more efficient, less costly, and more satisfying resolution of conflict, including more extensive and appropriate use of mediation and other “alternative dispute resolution” (ADR) approaches. This study examines what we know and do not know about the growth and impact of ADR in federal and state courts, in the business sector, and in employment and consumer settings. The analysis examines the relationship between ADR and court trial, but also underlines the broader uses of and rationale …
Australia’S Eggleston Principles In Takeover Law: Social And Economic Sense?, Benedict Sheehy
Australia’S Eggleston Principles In Takeover Law: Social And Economic Sense?, Benedict Sheehy
Benedict Sheehy
Australia has yet to give up its distinctive approach to take-over law. Although there has been and continues to be pressure to submit to the US model, this article argues that to do so is not likely to produce the desired effect while giving up something of particular value to Australians.
Rethinking Corporate Federalism In The Era Of Corporate Reform, Renee Jones
Rethinking Corporate Federalism In The Era Of Corporate Reform, Renee Jones
Renee Jones
No abstract provided.