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Full-Text Articles in Law and Economics
How Law Constructs Wealth Patterns [Panel Remarks], Kent Greenfield
How Law Constructs Wealth Patterns [Panel Remarks], Kent Greenfield
Kent Greenfield
No abstract provided.
Defending Stakeholder Governance, Kent Greenfield
Defending Stakeholder Governance, Kent Greenfield
Kent Greenfield
Corporations are collective enterprises, drawing on investments from various stakeholders who contribute to the firm's success. For a business to succeed over time, it must induce people and institutions to invest money, whether in the form of equity or loans. It must induce people to invest their labor, intelligence, skill, and attention by joining the firm as employees or managers. It must induce local communities to invest infrastructure of various kinds. None of these investors-for investors they all are-contributes its input out of altruism or obligation. They all do so because they believe that the corporation provides the mechanism for …