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State and Local Government Law Commons™
Open Access. Powered by Scholars. Published by Universities.®
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- Community-Owned Forests: Possibilities, Experiences, and Lessons Learned (June 16-19) (30)
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- The Public Lands During the Remainder of the 20th Century: Planning, Law, and Policy in the Federal Land Agencies (Summer Conference, June 8-10) (22)
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- Who Governs the Public Lands: Washington? The West? The Community? (September 28-30) (12)
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Articles 1 - 30 of 1020
Full-Text Articles in State and Local Government Law
Respect My Authority: The Past, Present, And Future Of The Public Authority, Tom J. Letourneau
Respect My Authority: The Past, Present, And Future Of The Public Authority, Tom J. Letourneau
Ocean and Coastal Law Journal
This comment synthesizes various historical aspects of motor vehicle infrastructure in the United States. The network of issues at play involves centuries of public policy decisions made at the local, state, and federal level, which twentieth century legal innovations hastened and curdled into the car culture we are all a part of today. The public authority is the paradigm of these legal innovations, but it has outlived its usefulness in the face climate change and burgeoning issues relating to urbanism.
Shareholder Primacy Versus Shareholder Accountability, William W. Bratton
Shareholder Primacy Versus Shareholder Accountability, William W. Bratton
Seattle University Law Review
When corporations inflict injuries in the course of business, shareholders wielding environmental, social, and governance (“ESG”) principles can, and now sometimes do, intervene to correct the matter. In the emerging fact pattern, corporate social accountability expands out of its historic collectivized frame to become an internal subject matter—a corporate governance topic. As a result, shareholder accountability surfaces as a policy question for the first time. The Big Three index fund managers, BlackRock, Vanguard, and State Street, responded to the accountability question with ESG activism. In so doing, they defected against corporate legal theory’s central tenet, shareholder primacy. Shareholder primacy builds …
Public Primacy In Corporate Law, Dorothy S. Lund
Public Primacy In Corporate Law, Dorothy S. Lund
Seattle University Law Review
This Article explores the malleability of agency theory by showing that it could be used to justify a “public primacy” standard for corporate law that would direct fiduciaries to promote the value of the corporation for the benefit of the public. Employing agency theory to describe the relationship between corporate management and the broader public sheds light on aspects of firm behavior, as well as the nature of state contracting with corporations. It also provides a lodestar for a possible future evolution of corporate law and governance: minimize the agency costs created by the divergence of interests between management and …
Corporate Law In The Global South: Heterodox Stakeholderism, Mariana Pargendler
Corporate Law In The Global South: Heterodox Stakeholderism, Mariana Pargendler
Seattle University Law Review
How do the corporate laws of Global South jurisdictions differ from their Global North counterparts? Prevailing stereotypes depict the corporate laws of developing countries as either antiquated or plagued by problems of enforcement and misfit despite formal convergence. This Article offers a different view by showing how Global South jurisdictions have pioneered heterodox stakeholder approaches in corporate law, such as the erosion of limited liability for purposes of stakeholder protection in Brazil and India, the adoption of mandatory corporate social responsibility in Indonesia and India, and the large-scale program of Black corporate ownership and empowerment in South Africa, among many …
Robo-Voting: Does Delegated Proxy Voting Pose A Challenge For Shareholder Democracy?, John Matsusaka, Chong Shu
Robo-Voting: Does Delegated Proxy Voting Pose A Challenge For Shareholder Democracy?, John Matsusaka, Chong Shu
Seattle University Law Review
Robo-voting is the practice by an investment fund of mechanically voting in corporate elections according to the advice of its proxy advisor— in effect fully delegating its voting decision to its advisor. We examined over 65 million votes cast during the period 2008–2021 by 14,582 mutual funds to describe and quantify the prevalence of robo-voting. Overall, 33% of mutual funds robo-voted in 2021: 22% with ISS, 4% with Glass Lewis, and six percent with the recommendations of the issuer’s management. The fraction of funds that robo-voted increased until around 2013 and then stabilized at the current level. Despite the sizable …
The Esg Information System, Stavros Gadinis, Amelia Miazad
The Esg Information System, Stavros Gadinis, Amelia Miazad
Seattle University Law Review
The mounting focus on ESG has forced internal corporate decision-making into the spotlight. Investors are eager to support companies in innovative “green” technologies and scrutinize companies’ transition plans. Activists are targeting boards whose decisions appear too timid or insufficiently explained. Consumers and employees are incorporating companies sustainability credentials in their purchasing and employment decisions. These actors are asking companies for better information, higher quality reports, and granular data. In response, companies are producing lengthy sustainability reports, adopting ambitious purpose statements, and touting their sustainability credentials. Understandably, concerns about greenwashing and accountability abound, and policymakers are preparing for action.
In this …
Stakeholder Governance On The Ground (And In The Sky), Stephen Johnson, Frank Partnoy
Stakeholder Governance On The Ground (And In The Sky), Stephen Johnson, Frank Partnoy
Seattle University Law Review
Professor Frank Partnoy: This is a marvelous gathering, and it is all due to Chuck O’Kelley and the special gentleness, openness, and creativity that he brings to this symposium. For more than a decade, he has been open to new and creative ways to discuss important issues surrounding business law and Adolf Berle’s legacy. We also are grateful to Dorothy Lund for co-organizing this gathering.
In introducing Stephen Johnson, I am reminded of a previous Berle, where Chuck allowed me some time to present the initial thoughts that led to my book, WAIT: The Art and Science of Delay. Part …
Stakeholder Capitalism’S Greatest Challenge: Reshaping A Public Consensus To Govern A Global Economy, Leo E. Strine Jr., Michael Klain
Stakeholder Capitalism’S Greatest Challenge: Reshaping A Public Consensus To Govern A Global Economy, Leo E. Strine Jr., Michael Klain
Seattle University Law Review
The Berle XIV: Developing a 21st Century Corporate Governance Model Conference asks whether there is a viable 21st Century Stakeholder Governance model. In our conference keynote article, we argue that to answer that question yes requires restoring—to use Berle’s term—a “public consensus” throughout the global economy in favor of the balanced model of New Deal capitalism, within which corporations could operate in a way good for all their stakeholders and society, that Berle himself supported.
The world now faces problems caused in large part by the enormous international power of corporations and the institutional investors who dominate their governance. These …
Delegated Corporate Voting And The Deliberative Franchise, Sarah C. Haan
Delegated Corporate Voting And The Deliberative Franchise, Sarah C. Haan
Seattle University Law Review
Starting in the 1930s with the earliest version of the proxy rules, the Securities and Exchange Commission (SEC) has gradually increased the proportion of “instructed” votes on the shareholder’s proxy card until, for the first time in 2022, it required a fully instructed proxy card. This evolution effectively shifted the exercise of the shareholder’s vote from the shareholders’ meeting to the vote delegation that occurs when the share-holder fills out the proxy card. The point in the electoral process when the binding voting choice is communicated is now the execution of the proxy card (assuming the shareholder completes the card …
A Different Approach To Agency Theory And Implications For Esg, Jonathan Bonham, Amoray Riggs-Cragun
A Different Approach To Agency Theory And Implications For Esg, Jonathan Bonham, Amoray Riggs-Cragun
Seattle University Law Review
In conventional agency theory, the agent is modeled as exerting unobservable “effort” that influences the distribution over outcomes the principal cares about. Recent papers instead allow the agent to choose the entire distribution, an assumption that better describes the extensive and flexible control that CEOs have over firm outcomes. Under this assumption, the optimal contract rewards the agent directly for outcomes the principal cares about, rather than for what those outcomes reveal about the agent’s effort. This article briefly summarizes this new agency model and discusses its implications for contracting on ESG activities.
Stakeholder Governance As Governance By Stakeholders, Brett Mcdonnell
Stakeholder Governance As Governance By Stakeholders, Brett Mcdonnell
Seattle University Law Review
Much debate within corporate governance today centers on the proper role of corporate stakeholders, such as employees, customers, creditors, suppliers, and local communities. Scholars and reformers advocate for greater attention to stakeholder interests under a variety of banners, including ESG, sustainability, corporate social responsibility, and stakeholder governance. So far, that advocacy focuses almost entirely on arguing for an expanded understanding of corporate purpose. It argues that corporate governance should be for various stakeholders, not shareholders alone.
This Article examines and approves of that broadened understanding of corporate purpose. However, it argues that we should understand stakeholder governance as extending well …
The Need For Corporate Guardrails In U.S. Industrial Policy, Lenore Palladino
The Need For Corporate Guardrails In U.S. Industrial Policy, Lenore Palladino
Seattle University Law Review
U.S. politicians are actively “marketcrafting”: the passage of the Bipartisan Infrastructure Law, the CHIPS and Science Act, and the Inflation Reduction Act collectively mark a new moment of robust industrial policy. However, these policies are necessarily layered on top of decades of shareholder primacy in corporate governance, in which corporate and financial leaders have prioritized using corporate profits to increase the wealth of shareholders. The Administration and Congress have an opportunity to use industrial policy to encourage a broader reorientation of U.S. businesses away from extractive shareholder primacy and toward innovation and productivity. This Article examines discrete opportunities within the …
Capitalism Stakeholderism, Christina Parajon Skinner
Capitalism Stakeholderism, Christina Parajon Skinner
Seattle University Law Review
Today’s corporate governance debates are replete with discussion of how best to operationalize so-called stakeholder capitalism—that is, a version of capitalism that considers the interests of employees, communities, suppliers, and the environment alongside (if not before) a company’s shareholders. So much focus has been dedicated to the question of capitalism’s reform that few have questioned a key underlying premise of stakeholder capitalism: that is, that competitive capitalism does not serve these various constituencies and groups. This Essay presents a different view and argues that capitalism is, in fact, the ultimate form of stakeholderism. As such, the Essay urges that the …
Table Of Contents, Seattle University Law Review
Table Of Contents, Seattle University Law Review
Seattle University Law Review
Table of Contents
The Structure Of Corporate Law Revolutions, William Savitt
The Structure Of Corporate Law Revolutions, William Savitt
Seattle University Law Review
Since, call it 1970, corporate law has operated under a dominant conception of governance that identifies profit-maximization for stockholder benefit as the purpose of the corporation. Milton Friedman’s essay The Social Responsibility of Business is to Increase Its Profits, published in September of that year, provides a handy, if admittedly imprecise, marker for the coronation of the shareholder-primacy paradigm. In the decades that followed, corporate law scholars pursued an ever-narrowing research agenda with the purpose and effect of confirming the shareholder-primacy paradigm. Corporate jurisprudence followed a similar path, slowly at first and later accelerating, to discover in the precedents and …
The Limits Of Corporate Governance, Cathy Hwang, Emily Winston
The Limits Of Corporate Governance, Cathy Hwang, Emily Winston
Seattle University Law Review
What is the purpose of the corporation? For decades, the answer was clear: to put shareholders’ interests first. In many cases, this theory of shareholder primacy also became synonymous with the imperative to maximize shareholder wealth. In the world where shareholder primacy was a north star, courts, scholars, and policymakers had relatively little to fight about: most debates were minor skirmishes about exactly how to maximize shareholder wealth.
Part I of this Essay discusses the shortcomings of shareholder primacy and stakeholder governance, arguing that neither of these modes of governance provides an adequate framework for incentivizing corporations to do good. …
Interlocal Power Roulette, Daniel B. Rosenbaum
Interlocal Power Roulette, Daniel B. Rosenbaum
Indiana Law Journal
Local governments inhabit a crowded ecosystem. Cities, counties, and school districts—and many more—share overlapping territorial jurisdictions. Overlapping jurisdiction goes hand-in-hand with redundant local power, defined as a scenario where multiple governments hold independent authority to take the exact same action in the exact same territorial space. In Maine, for example, state law empowers three local bodies to operate the same sewer infrastructure. In Detroit, two separate entities are equally tasked with managing the city’s streetlights. And in communities across the country, local governments are broadly authorized to own the same parcels of public land, including in Oakland, California, where public …
Getting To The Shore On Foot: Sustaining Harvester Access, Bill Zoellick, Pauline V. Angione, Emily Farr, Ada Fisher, Jessica Gribbon Joyce, B Lauer, Marissa Mcmahan Ph.D., Michael Pinkham, Vicki Rea
Getting To The Shore On Foot: Sustaining Harvester Access, Bill Zoellick, Pauline V. Angione, Emily Farr, Ada Fisher, Jessica Gribbon Joyce, B Lauer, Marissa Mcmahan Ph.D., Michael Pinkham, Vicki Rea
Maine Policy Review
"Working Waterfront" conjures images of the Portland Fish Exchange, Belfast shipyards, or wharves and piers in Stonington. Ensuring that such sites continue as essential elements of Maine's marine economy is increasingly the focus of innovative action and policy development. But policies to address Maine's working waterfronts must also attend to waterfront access required by those who reach it on foot. Such access rights are rarely conferred by private ownership. Instead, they depend on public ownership and, more frequently, on informal social arrangements between harvesters and property owners. In this article, we describe the nature of the shore access needed by …
Research On Renewable Energy Project Opposition Selected For Environmental Law And Policy Annual Review Award, James Owsley Boyd
Research On Renewable Energy Project Opposition Selected For Environmental Law And Policy Annual Review Award, James Owsley Boyd
Keep Up With the Latest News from the Law School (blog)
A publication co-authored by Indiana University Maurer School of Law Dean Christiana Ochoa and 2021 Law School alumna Kacey Cook has been selected to appear in the 17th edition of the Environmental Law and Policy Annual Review.
“Deals in the Heartland: Renewable Energy Projects, Local Resistance, and How Law Can Help” was authored by Ochoa, Cook, and University of Minnesota Law School third-year student Hanna Weil and was published in January 2023 in the Minnesota Law Review.
Table Of Contents, Seattle University Law Review
Table Of Contents, Seattle University Law Review
Seattle University Law Review
Table of Contents
Sitla And How To Make It Pay: Two Proposals For Increasing The Profitability Of Utah’S School And Institutional Trust Lands, Katrina Cole
Sitla And How To Make It Pay: Two Proposals For Increasing The Profitability Of Utah’S School And Institutional Trust Lands, Katrina Cole
Brigham Young University Journal of Public Law
No abstract provided.
Change We Can Believe In: The Seventh Circuit's Exposure Of Inadequate Environmental Review In Protect Our Parks V. Buttigieg, P. Nicholas Greco
Change We Can Believe In: The Seventh Circuit's Exposure Of Inadequate Environmental Review In Protect Our Parks V. Buttigieg, P. Nicholas Greco
Villanova Environmental Law Journal
No abstract provided.
Beneath The Property Taxes Financing Education, Timothy M. Mulvaney
Beneath The Property Taxes Financing Education, Timothy M. Mulvaney
Faculty Scholarship
Many states turn in sizable part to local property taxes to finance public education. Political and academic discourse on the extent to which these taxes should serve in this role largely centers on second-order issues, such as the vices and virtues of local control, the availability of mechanisms to redistribute property tax revenues across school districts, and the overall stability of those revenues. This Essay contends that such discourse would benefit from directing greater attention to the justice of the government’s threshold choices about property law and policy that impact the property values against which property taxes are levied.
The …
Vertical Farming: A Bottom-Up Approach, Michael Martinez
Vertical Farming: A Bottom-Up Approach, Michael Martinez
Seattle Journal of Technology, Environmental & Innovation Law
The twenty-first century will require innovative solutions to address the effects of climate change. Vertical farming is one solution that could help conserve a significant amount of freshwater and reduce the agricultural industry’ s overuse of pesticides and intensive tilling practices, which contributes to soil erosion and pesticide runoff. There has been significant investment in vertical farming in every region of the United States; however, the cost to produce foods with vertical farming remains more costly than traditional farming, which is in large part due to the substantial amount of electricity needed to power all the technology required to grow …
Rural Bashing, Kaceylee Klein, Lisa R. Pruitt
Rural Bashing, Kaceylee Klein, Lisa R. Pruitt
University of Richmond Law Review
Anti-rural sentiment is expressed in the United States in three major threads. The first is a narrative about the political structure of our representative democracy—an assertion that rural people are over-represented thanks to the structural features of the U.S. Senate and the Electoral College. Because rural residents are less than a fifth of the U.S. population, complaints about this situation are often framed as “minority rule.”
The second thread is related to the first: rural people and their communities get more than their fair share from federal government coffers. The argument, often expressed in terms of “subsidies,” is that rural …
Rural America As A Commons, Ann M. Eisenberg
Rural America As A Commons, Ann M. Eisenberg
University of Richmond Law Review
With many ready to dismiss non-urban life as a relic of history, rural America’s place in the future is in question. The rural role in the American past is understandably more apparent. As the story of urbanization goes in the United States and elsewhere, the majority of the population used to live in rural places, including small towns and sparsely populated counties. A substantial proportion of those people worked in agriculture, manufacturing, or extractive industries. But trends associated with modernity—mechanization, automation, globalization, and environmental conservation, for instance—have reduced the perceived need for a rural workforce. Roughly since the industrial revolution …
With A Wink And A Nod: How Politicians, Regulators, And Corrupt Coal Companies Exploited Appalachia, Patrick C. Mcginley
With A Wink And A Nod: How Politicians, Regulators, And Corrupt Coal Companies Exploited Appalachia, Patrick C. Mcginley
University of Richmond Law Review
Environmental regulators treated America’s leading coal companies like Wall Street’s mismanaged banks leading to the “Great Recession”—big coal companies that produced millions of tons of coal were simply too big to fail. With a wink and a nod, federal and state regulators ignored a core provision of federal law that was intended to prevent coal companies from continuing their past practices of plundering Appalachia’s mineral wealth while ravaging her environment.
This Article examines how the coal industry successfully evaded compliance with that law. The consequences of this evasion include mass bankruptcies, thousands of acres of mined land laying unclaimed, …
Mitigating Trail Troubles: An Analysis Of The Virginia Recreational Land Use Statute, Rachel Rogers, Cooper Vorel
Mitigating Trail Troubles: An Analysis Of The Virginia Recreational Land Use Statute, Rachel Rogers, Cooper Vorel
Virginia Coastal Policy Center
While the overall focus of this discussion is on the law of Virginia, it is often useful to look elsewhere for comparative purposes. This is especially important when it involves considering the future of Virginia’s recreational land use statute. The overall objective of this discussion is to supplement Virginia’s existing recreational land use legal regime by exploring specific issues related to Virginia’s statutory scheme and identifying areas where further research may be needed.
Four issues involving recreational land use statutes are explored herein. First, the scope of recreational use statutes, namely in Virginia, is examined. This issue addresses the substance …
A Synthesis Of The Science And Law Relating To Eyewitness Misidentifications And Recommendations For How Police And Courts Can Reduce Wrongful Convictions Based On Them, Henry F. Fradella
A Synthesis Of The Science And Law Relating To Eyewitness Misidentifications And Recommendations For How Police And Courts Can Reduce Wrongful Convictions Based On Them, Henry F. Fradella
Seattle University Law Review
The empirical literature on perception and memory consistently demonstrates the pitfalls of eyewitness identifications. Exoneration data lend external validity to these studies. With the goal of informing law enforcement officers, prosecutors, criminal defense attorneys, judges, and judicial law clerks about what they can do to reduce wrongful convictions based on misidentifications, this Article presents a synthesis of the scientific knowledge relevant to how perception and memory affect the (un)reliability of eyewitness identifications. The Article situates that body of knowledge within the context of leading case law. The Article then summarizes the most current recommendations for how law enforcement personnel should—and …
Race, Space, And Place: Interrogating Whiteness Through A Critical Approach To Place, Keith H. Hirokawa
Race, Space, And Place: Interrogating Whiteness Through A Critical Approach To Place, Keith H. Hirokawa
William & Mary Journal of Race, Gender, and Social Justice
Drawing from George Lipsitz’s notion that whiteness is “not so much a color as a condition,” this Article embarks on the project of framing the manner and methods through which whiteness continues to dominate space and place. Wherever whiteness dominates space, space carries rules and expectations about the identity and characteristics of people who are present—visitors and jaunters, owners and occupiers—and the types of activities and cultural practices that might occur there. Occasionally, spaces are racialized because of intentional practices of discrimination and segregation. In others, less intentional methods produce racialized space. In both, American spaces tell their own histories …