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Articles 1 - 30 of 1151
Full-Text Articles in Workers' Compensation Law
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 …
Pay Differences In The Absence Of Discrimination: Legislative Fallacies And Statistical Truths, Allan G. King, Stephen G. Bronars
Pay Differences In The Absence Of Discrimination: Legislative Fallacies And Statistical Truths, Allan G. King, Stephen G. Bronars
Journal of Legislation
No abstract provided.
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. …
Workers' Compensation, H. Michael Bagley, J. Benson Ward
Workers' Compensation, H. Michael Bagley, J. Benson Ward
Mercer Law Review
Panels, Pandemics, Premiums, and Partnerships
This Survey Article explores legislative developments and judicial decisions by Georgia courts involving panels of physicians, joint ventures, subrogation, setting aside settlements, and insurance premiums to provide practitioners, academics, and law students with a comprehensive overview of the ever-evolving legal framework governing workers’ compensation in Georgia during the survey period.
Capriole V. Uber Technologies Inc.: The Court Split Over The Interstate Commerce Worker Exemption Of The Federal Arbitration Act, Spencer Sellers
Capriole V. Uber Technologies Inc.: The Court Split Over The Interstate Commerce Worker Exemption Of The Federal Arbitration Act, Spencer Sellers
Golden Gate University Law Review
This case note analyzes Capriole v. Uber Techs., Inc., 460 F. Supp. 3d 919 (N.D. Cal. 2020) aff’d, 7 F.4th 854 (9th Cir. 2021), a case wherein the U.S. Court of Appeals for the Ninth Circuit held that rideshare drivers who are employed as independent contractors do not qualify as interstate commerce workers within the meaning of the Federal Arbitration Act (FAA). Those who qualify as interstate commerce workers are exempt from certain arbitration requirements under the FAA. Because the court found that rideshare drivers do not qualify for this classification, rideshare drivers who want to complain about …
Table Of Contents, Seattle University Law Review
Table Of Contents, Seattle University Law Review
Seattle University Law Review
Table of Contents
Welcome Address, Lauren Mckenzie
Welcome Address, Lauren Mckenzie
DePaul Business & Commercial Law Journal
No abstract provided.
The Guarantees Of Laborers To Terminate Work Contract For Technical And Economic Reasons Under Palestinian Law: A Comparative Study, Ibrahim Khalid Yahya Mr., Amr Ibrahim Saabneh Mr.
The Guarantees Of Laborers To Terminate Work Contract For Technical And Economic Reasons Under Palestinian Law: A Comparative Study, Ibrahim Khalid Yahya Mr., Amr Ibrahim Saabneh Mr.
مجلة جامعة الإمارات للبحوث القانونية UAEU LAW JOURNAL
This research deals with the guarantees of the employee while the Palestinian legislator authorized the employer to terminate the labor contract for technical and economic reasons "loss". This research discusses these guarantees for the legitimate reasons have been regulated under article 41 of the Palestinian Labor Law .This research aims at clarifying the reasonable criterions For the technical reason to make a balance between the conflicting interests between the employer and the employee, as well as the adoption of the criterion of "extraordinary event" in the loss, in order to achieve a guarantee of the employee in light of the …
California Restaurant Workers Seeking Justice At The Workplace, Victoria Chan
California Restaurant Workers Seeking Justice At The Workplace, Victoria Chan
GGU Law Review Blog
According to a finding by the Economic Policy Institute, about $2 billion in wages are stolen from workers in California every year. A report by the National Employment Law Project (NELP) found that over 1 in 10 workers in California are paid less than the state minimum wage. To an individual worker, the stolen wages can equal more than two months’ rent, three months of childcare, and nearly a year’s worth of groceries for themselves and their family. These workers are oftentimes people of color, women, and immigrants in the restaurant industry.
Beyond Title Vii: Litigating Harassment By Nonemployees Under The Ada And Adea, Kate Bradley
Beyond Title Vii: Litigating Harassment By Nonemployees Under The Ada And Adea, Kate Bradley
Washington Law Review
Employees in the United States are protected from unlawful harassment that rises to the level of a “hostile work environment.” Federal circuits recognize that employers could be liable under Title VII when their employees experience hostile work environments because of harassment from nonemployees. However, outside of Title VII, not all federal circuits have recognized that the Americans with Disabilities Act of 1990 (ADA) and Age Discrimination in Employment Act of 1967 (ADEA) protect employees from hostile work environments.
As a result, employees are vulnerable with respect to age and disability-based harassment. This Comment argues that all federal circuits should allow …
After 'Subsistence Work': Labour Commodification And Social Justice In The Household Workplace, Liam Mchugh-Russell
After 'Subsistence Work': Labour Commodification And Social Justice In The Household Workplace, Liam Mchugh-Russell
Articles, Book Chapters, & Popular Press
In this book, leading international thinkers take up the demanding challenge to rethink our understanding of social justice at work and our means for achieving it – at a time when global forces are tearing the familiar fabric of our working lives and the laws regulating them. When fabric is torn we can see deeply into it, understand its structural weaknesses, and imagine alterations in the name of resilience and sustainability. Seizing that opportunity, the authoritative commentators examine the lessons revealed by the pandemic and other global shocks for our ideas about justice at work, and how to advance that …
The Evolution Of Chapter 11: How Corporate Restructuring Has Evolved And Its Important Role In The Recovery Of A Struggling Economy, Eduardo Cervantes
The Evolution Of Chapter 11: How Corporate Restructuring Has Evolved And Its Important Role In The Recovery Of A Struggling Economy, Eduardo Cervantes
DePaul Business & Commercial Law Journal
No abstract provided.
Covid-19 Vs. Constitution; Limited Government's Unlimited Response, John A. Losurdo
Covid-19 Vs. Constitution; Limited Government's Unlimited Response, John A. Losurdo
DePaul Business & Commercial Law Journal
No abstract provided.
The "No License, No Chips" Policy: When A Refusal To Deal Becomes Reasonable, Sheng Tong
The "No License, No Chips" Policy: When A Refusal To Deal Becomes Reasonable, Sheng Tong
DePaul Business & Commercial Law Journal
No abstract provided.
The Dark Triad: Private Benefits Of Control, Voting Caps And The Mandatory Takeover Rule, Jorge Brito Pereira
The Dark Triad: Private Benefits Of Control, Voting Caps And The Mandatory Takeover Rule, Jorge Brito Pereira
DePaul Business & Commercial Law Journal
No abstract provided.
Kepastian Hukum Kantor Perwakilan Badan Usaha Jasa Konstruksi Asing Dalam Melakukan Kegiatan Usaha Di Indonesia, Emy Mutia Zahrina
Kepastian Hukum Kantor Perwakilan Badan Usaha Jasa Konstruksi Asing Dalam Melakukan Kegiatan Usaha Di Indonesia, Emy Mutia Zahrina
"Dharmasisya” Jurnal Program Magister Hukum FHUI
Representative offices are present in Indonesia in order to meet the needs of global economic growth in all countries. Multinational companies expand their business to other countries through relocation policies. The aim is none other than an effort to reduce production costs through a number of comparative advantages possessed by Indonesia as well as seizing such a large market for these products, and through this way multinational companies benefit. The presence of representative offices in Indonesia is regulated by Presidential Decree Number 90 of 2000 concerning Representative Offices of Foreign Companies. Through the Presidential Decree, the government limits the scope …