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Corporate Conspiracy: How Not Calling A Conspiracy A Conspiracy Is Warping The Law On Corporate Wrongdoing, Josephine Sandler Nelson 2015 SelectedWorks

Corporate Conspiracy: How Not Calling A Conspiracy A Conspiracy Is Warping The Law On Corporate Wrongdoing, Josephine Sandler Nelson

J.S. Nelson

The intracorporate conspiracy doctrine immunizes an enterprise and its agents from conspiracy prosecution based on the legal fiction that an enterprise and its agents are a single actor incapable of the meeting of two minds to form a conspiracy. The doctrine, however, misplaces incentives in contravention of agency law, criminal law, tort law, and public policy. As a result, harmful behavior is ordered and performed without consequences, and the victims of the behavior suffer without appropriate remedy.

Especially in the wake of the financial crisis, prosecutors and the public are searching for new tools to combat corporate conspiracy. The most ...


The Value Of Soft Variables In Corporate Reorganizations, Michelle M. Harner 2015 University of Maryland Francis King Carey School of Law

The Value Of Soft Variables In Corporate Reorganizations, Michelle M. Harner

Faculty Scholarship

When a company is worth more as a going concern than on a liquidation basis, what creates that additional value? Is it the people, management decisions, the simple synergies of the operating business, or some combination of these types of soft variables? And perhaps more importantly, who owns or has an interest in these soft variables? This article explores these questions under existing legal doctrine and practice norms. Specifically, it discusses the characterization of soft variables under applicable law and in financing documents, and it surveys related judicial decisions. It also considers the overarching public policy and Constitutional implications of ...


Present At The Creation: Reflections On The Early Years Of The National Association Of Corporate Directors, Lawrence J. Trautman 2014 SelectedWorks

Present At The Creation: Reflections On The Early Years Of The National Association Of Corporate Directors, Lawrence J. Trautman

Lawrence J. Trautman Sr.

Effective corporate governance is critical to the productive operation of the global economy and preservation of our way of life. Excellent governance execution is also required to achieve economic growth and robust job creation in any country. In the United States, the premier director membership organization is the National Association of Corporate Directors (NACD). Since 1978, NACD plays a major role in fostering excellence in corporate governance in the United States and beyond.

The NACD has grown from a mere realization of the importance of corporate governance to become the only national membership organization created by and for corporate directors ...


New York Stock Exchange, Bert Chapman 2014 Purdue University

New York Stock Exchange, Bert Chapman

Libraries Faculty and Staff Scholarship and Research

Provides a historical overview of the origins and early development of the New York Stock Exchange.


Corporate Boardroom Diversity: Why Are We Still Talking About This?, Lawrence J. Trautman 2014 SelectedWorks

Corporate Boardroom Diversity: Why Are We Still Talking About This?, Lawrence J. Trautman

Lawrence J. Trautman Sr.

What exactly is board diversity and why does it matter? How does diversity fit in an attempt to build the best board for any organization? What attributes and skills are required by law and what mix of experiences and talents provide the best corporate governance? Even though most companies say they are looking for diversity, why has there been such little progress? Are required director attributes, which are a must for all boards, consistent with future diversity gains and aligned with achieving high performance and optimal board composition?

My goal is to provide answers to these questions, and to discuss ...


Norway’S Companies Act: A 10-Year Look At Gender Equality, Kristen Carroll 2014 Pace University

Norway’S Companies Act: A 10-Year Look At Gender Equality, Kristen Carroll

Pace International Law Review

This analysis assesses the amendment to Norway’s Companies Act, in light of the 10-year anniversary of the mandate of female representation on corporate boards. First, I discuss the implementation of the quota, Section 6-11a. Second, I compare three statistical studies that analyze the effects of the quota on corporate profitability, overall firm performance, and the changing dynamics of the managerial positions. Finally, I evaluate the various avenues to fully achieving diversity, such as the successes and failures of a quota-type system and possible initiatives that governments and companies can enact to achieve gender-balance in the workplace. While some hypothesize ...


Corporate Governance Sex Regimes: Peripheral Thoughts From Across The Atlantic, Horatia Muir Watt 2014 Pace University

Corporate Governance Sex Regimes: Peripheral Thoughts From Across The Atlantic, Horatia Muir Watt

Pace International Law Review

The very recent and highly mediatized “Declaration of the 343 Salauds”, where 343 (male) signatures in support of prostitution in a form designed to echo the highly significant declaration of as many women in 1971 in favor of the legalization of abortion, sheds particularly interesting light upon debate about sex regimes in connection with French law. France has recently introduced compulsory quotas for women in corporate boards after imposing la parité for public appointments. A comparative perspective, confronting this recent legislative development from across the Atlantic with policy views on affirmative action and philosophical conceptions of diversity in the United ...


Gender Quotas For Corporate Boards: Options For Legal Design In The United States, Anne L. Alstott 2014 Pace University

Gender Quotas For Corporate Boards: Options For Legal Design In The United States, Anne L. Alstott

Pace International Law Review

Recently, U.S. activists, scholars, and policy makers have turned their attention to one notable effort to address the gender gap in management: gender quotas for corporate boards of directors. Twelve European countries have pioneered quotas in this context. France, Italy, the Netherlands, Norway, and Belgium now have mandatory quotas ranging from 30%-40%. Spain, Germany, Denmark, Finland, Greece, Austria, and Slovenia have voluntary quotas, and Germany and the EU are considering legislation to mandate quotas. Gender quotas for corporate boards represent an intriguing option, even if the case for quotas is not airtight. The argument for gender quotas rests ...


Gender Diversity On Corporate Boards: How Racial Politics Impedes Progress In The United States, Cheryl L. Wade 2014 Pace University

Gender Diversity On Corporate Boards: How Racial Politics Impedes Progress In The United States, Cheryl L. Wade

Pace International Law Review

The excellent conference organized by Darren Rosenblum comparing global approaches to board diversity inspired me to think about how progress in this context has unfolded in the United States. Even though the issue of diversity on corporate boards has become a global issue, few U.S. boards have moved beyond mere tokenism when it comes to female directors. One reason for the lack of diversity among corporate directors is that board selection has been based on membership in a particular network. This essay, however, focuses on the persisting problem of discrimination—a more invidious explanation for the fact that very ...


A Difficult Conversation: Corporate Directors On Race And Gender, Kimberly D. Krawiec, John M. Conley, Lissa L. Broome 2014 Pace University

A Difficult Conversation: Corporate Directors On Race And Gender, Kimberly D. Krawiec, John M. Conley, Lissa L. Broome

Pace International Law Review

This symposium essay summarizes our ongoing ethnographic research on corporate board diversity. This research is based on fifty-seven interviews with corporate directors and a limited number of other persons of interest (including institutional investors, executive search professionals, and proxy advisors) regarding their views on race and gender diversity in the boardroom.

Using a method rooted in anthropology and discourse analysis, we have worked from a general topic outline and conducted open-ended interviews in which respondents are encouraged to raise and develop issues of interest to them. The interviews range from forty-five minutes to two hours in length and each interview ...


Diversity In The Boardroom: A Content Analysis Of Corporate Proxy Disclosures, Aaron A. Dhir 2014 Pace University

Diversity In The Boardroom: A Content Analysis Of Corporate Proxy Disclosures, Aaron A. Dhir

Pace International Law Review

My work in this field has focused on regulation by quota and regulation by disclosure. With regard to quotas, strikingly, the Norwegian law is not located in regulation that explicitly deals with human rights or equality issues; rather, it is found in the heart of the legal regime that gives life and personality to corporations – in Norwegian corporate law. I have conducted qualitative, interview-based research with Norwegian corporate directors, both men and women. It is only through understanding how the goals of the law have translated into the day-to-day existence of these individuals that we can begin to consider the ...


Comparative Sex Regimes And Corporate Governance: An Introduction, Darren Rosenblum 2014 Pace University

Comparative Sex Regimes And Corporate Governance: An Introduction, Darren Rosenblum

Pace International Law Review

In February 2013, on the day of the worst snowstorm in many years, Pace International Law Review conducted a symposium on “Comparative Sex Regimes and Corporate Governance.” Despite a total shutdown of all transport networks and the consequent absence of a few stranded scholars, we met to discuss the fraught questions posed by corporate board quotas and formulate answers.

Led by Norway in 2003, several nations have begun to mandate certain levels of women’s inclusion on corporate boards. In the face of widespread exclusion of women from corporate power that suggests structural biases, these quotas appear radical and compelling ...


Concentrated Ownership And Corporate Control: Wallenberg Sphere And Samsung Group, Hwa-Jin Kim 2014 University of Michigan Law School

Concentrated Ownership And Corporate Control: Wallenberg Sphere And Samsung Group, Hwa-Jin Kim

Law & Economics Working Papers

Samsung Group’s success cannot be attributed to its corporate governance structure, at least thus far. The corporate governance of Samsung has been rather controversial. As the group faces the succession issue the corporate governance has become as crucial as their new products and services. Samsung has discovered a role model on the other side of the planet, Wallenberg Sphere in Sweden. Much effort has been made to learn about Wallenberg’s arrangements and key to its success. However, a fundamental difference between the institutions in Sweden and Korea has made the corporate structures of the two groups radically different ...


Does The Endowment Effect Justify Legal Intervention? The Debiasing Effect Of Institutions, Jennifer Arlen, Stephan Tontrup 2014 NELLCO

Does The Endowment Effect Justify Legal Intervention? The Debiasing Effect Of Institutions, Jennifer Arlen, Stephan Tontrup

New York University Law and Economics Working Papers

We claim that the endowment effect rarely justifies legal intervention in private ordering. To our knowledge, we present the first theory to explain how institutions inhibit the endowment effect without altering people’s rights to their entitlements. The endowment effect is substantially caused by anticipated regret. We show that people experience regret only when they feel responsible for the decision and can mute regret by trading through institutions that let them share responsibility with others. As entitlement-holders typically transact through institutions, we expect most people to make unbiased trading decisions in real markets. We test two common institutions—agency and ...


Does The Endowment Effect Justify Legal Intervention? The Debiasing Effect Of Institutions, Jennifer Arlen, Stephan Tontrup 2014 NELLCO

Does The Endowment Effect Justify Legal Intervention? The Debiasing Effect Of Institutions, Jennifer Arlen, Stephan Tontrup

New York University Public Law and Legal Theory Working Papers

We claim that the endowment effect rarely justifies legal intervention in private ordering. To our knowledge, we present the first theory to explain how institutions inhibit the endowment effect without altering people’s rights to their entitlements. The endowment effect is substantially caused by anticipated regret. We show that people experience regret only when they feel responsible for the decision and can mute regret by trading through institutions that let them share responsibility with others. As entitlement-holders typically transact through institutions, we expect most people to make unbiased trading decisions in real markets. We test two common institutions—agency and ...


Order On Defendant's Motion To Dismiss Plaintiffs' Verified Complaint (Harmony Land Company, Llc Et Al.), Elizabeth E. Long 2014 Georgia State University

Order On Defendant's Motion To Dismiss Plaintiffs' Verified Complaint (Harmony Land Company, Llc Et Al.), Elizabeth E. Long

Georgia Business Court Opinions

No abstract provided.


Order Granting Interlocutory Injunction (Runzhou Zhang Et Al.), Melvin K. Westmoreland 2014 Georgia State University

Order Granting Interlocutory Injunction (Runzhou Zhang Et Al.), Melvin K. Westmoreland

Georgia Business Court Opinions

No abstract provided.


Order On Defendants' Motion To Compel Against Non-Party Wells Fargo (Global Aerospace Inc.), Elizabeth E. Long 2014 Georgia State University

Order On Defendants' Motion To Compel Against Non-Party Wells Fargo (Global Aerospace Inc.), Elizabeth E. Long

Georgia Business Court Opinions

No abstract provided.


Order On Valuation Of Shares Under Shareholder Agreement (Justin Fouse Et Al.), John J. Goger 2014 Georgia State University

Order On Valuation Of Shares Under Shareholder Agreement (Justin Fouse Et Al.), John J. Goger

Georgia Business Court Opinions

No abstract provided.


E-Commerce And Electronic Payment System Risks: Lessons From Paypal, Lawrence J. Trautman 2014 SelectedWorks

E-Commerce And Electronic Payment System Risks: Lessons From Paypal, Lawrence J. Trautman

Lawrence J. Trautman Sr.

What are the major risks perceived by those engaged in e-commerce and electronic payment systems? What development risks, if they become reality, may cause substantial increases in operating costs or threaten the very survival of the enterprise?

This article utilizes the relevant annual report disclosures from eBay (parent of PayPal), along with other eBay and PayPal documents, as a potentially powerful teaching device. Most of the descriptive language to follow is excerpted directly from eBay’s regulatory filings. My additions include weaving these materials into a logical presentation and providing supplemental sources for those who desire a deeper look (usually ...


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