Open Access. Powered by Scholars. Published by Universities.®

Law and Politics Commons

Open Access. Powered by Scholars. Published by Universities.®

4510 Full-Text Articles 3279 Authors 1827072 Downloads 184 Institutions

All Articles in Law and Politics

Faceted Search

4510 full-text articles. Page 3 of 125.

An Identity Theory Of The Short- And Long-Term Investor Debate, Claire A. Hill 2018 Seattle University School of Law

An Identity Theory Of The Short- And Long-Term Investor Debate, Claire A. Hill

Seattle University Law Review

Economics famously treats market actors as homogeneous. People are homo economicus, rational self-interested maximizers of their own utility. So far, so good, notwithstanding supposed behavioral “deviations” from rationality (more on those later). That people can view their own utility very differently from one another is recognized in theory, but not so much in practice. Also not sufficiently recognized is the extent to which people’s views of their own utility reflect their theories of who they are and how the world works, and that they hold such views and theories not just atomistically, but also collectively—that is, socially.


Good Activist/Bad Activist: The Rise Of International Stewardship Codes, Jennifer G. Hill 2018 Seattle University School of Law

Good Activist/Bad Activist: The Rise Of International Stewardship Codes, Jennifer G. Hill

Seattle University Law Review

Shareholder participation in corporate governance and investor activism are topics du jour in the United States and around the world. In the early part of the 20th century, Professors Berle and Means considered that shareholder participation was impossible in the transformed commercial world that they described in The Modern Corporation and Private Property. This was a world characterized by dispersed and vulnerable shareholders, in which owners do not manage, and managers do not own, the corporation. In such an environment, the goal of corporate law became one of protecting shareholder interests rather than providing shareholders with participation rights. The structure ...


Specificity And Time Horizons, Frank Partnoy 2018 Seattle University School of Law

Specificity And Time Horizons, Frank Partnoy

Seattle University Law Review

This Essay argues that the short-termism debate would benefit from greater clarity and specificity regarding time horizons. I make four points. First, optimal time horizons vary in discernible ways. Second, the potential mismatch between actual and optimal time horizons should generate a range of responses. Third, investors and managers can discern and disclose estimates of actual and optimal time horizons (e.g., using categories such as preconscious, fast conscious, slow conscious, and discounting). Fourth, market participants, policy makers, and scholars should use such estimates to be more precise about time horizons. For example, critics of hedge fund activism could recognize ...


Are Investor Time Horizons Shortening?, Rachelle Sampson, Yuan Shi 2018 Seattle University School of Law

Are Investor Time Horizons Shortening?, Rachelle Sampson, Yuan Shi

Seattle University Law Review

The rise in quarterly capitalism in corporate America—increased pressure to meet quarterly earnings predictions and cater to shareholder preferences for short-term returns—has gained significant coverage in the business world and popular press in recent years. Increasingly, popular opinion suggests that firms bow to shareholder pressures, taking steps to smooth earnings and boost share prices in the short-term; firms do so by cutting Research and Development (R&D) investment, engaging in extensive cost-cutting, or increasing dividends and share buybacks. Recent estimates at the industry level show that investor discount rates have increased in recent years, supporting the notion that ...


Corporate Governance As Privately-Ordered Public Policy: A Proposal, Lynn Stout, Sergio Gramitto 2018 Seattle University School of Law

Corporate Governance As Privately-Ordered Public Policy: A Proposal, Lynn Stout, Sergio Gramitto

Seattle University Law Review

In this Article, we show how our society can use corporate governance shifts to address, if not entirely resolve, a number of currently pressing social and economic problems. These problems include: rising income inequality; demographic disparities in wealth and equity ownership; increasing poverty and income insecurity; a need for greater innovation and investment in solving problems like disease and climate change; the “externalization” of many costs of corporate activity onto third parties such as customers, employees, creditors, and the broader society; the corrosive influence of corporate money in politics; and discontent and loss of trust in the capitalist system among ...


Wrong-Termism, Right-Termism, And The Liability Structure Of Investor Time Horizons, Andrew Verstein 2018 Seattle University School of Law

Wrong-Termism, Right-Termism, And The Liability Structure Of Investor Time Horizons, Andrew Verstein

Seattle University Law Review

Do investor time horizons lead to inefficient business conduct in the real economy? An extensive finance literature analyzes whether particular practices (e.g., high frequency trading and stock buybacks) lead firms to operate with inefficiently myopic investment horizons, and an extensive legal literature considers the appropriateness of policy interventions. This Article joins those debates by charting the space of possibilities: what might be the causes of problematic time horizons? What solutions are available? One implication of this analysis is that there may be unexplored market-based solutions located on the liability side of investors’ balance sheets. This Article also argues that ...


Flash Traders (Milliseconds) To Indexed Institutions (Centuries): The Challenges Of An Agency Theory Approach To Governance In The Era Of Diverse Investor Time Horizons, Harold Weston, Conrad Ciccotello 2018 Seattle University School of Law

Flash Traders (Milliseconds) To Indexed Institutions (Centuries): The Challenges Of An Agency Theory Approach To Governance In The Era Of Diverse Investor Time Horizons, Harold Weston, Conrad Ciccotello

Seattle University Law Review

One aspect of the problem in trying to align a corporate investment horizon (the time period for return on investment) to that of its shareholders is the enormous range of investor time horizons, which can range from milliseconds to centuries. A second aspect of the problem is whether ownership of shares equates to ownership of the corporation. A third aspect of the problem is that, despite the theories and advocacy of shareholders being owners, based on the agency model of corporate finance first developed in the 1970s, the theory is contrary to corporate law. These three aspects will be developed ...


Whatever Did Happen To The Antitrust Movement?, Herbert J. Hovenkamp 2018 University of Pennsylvania Law School

Whatever Did Happen To The Antitrust Movement?, Herbert J. Hovenkamp

Faculty Scholarship

Antitrust in the United States today is caught between its pursuit of technical rules designed to define and implement defensible economic goals, and increasing calls for a new antitrust “movement.” The goals of this movement have been variously defined as combating industrial concentration, limiting the economic or political power of large firms, correcting the maldistribution of wealth, control of high profits, increasing wages, or protection of small business. High output and low consumer prices are typically unmentioned.

In the 1960s the great policy historian Richard Hofstadter lamented the passing of the antitrust “movement” as one of the “faded passions of ...


The Affordable Care Act And The Chronic Challenge Of Cost Control, Isaac D. Buck 2018 University of St. Thomas, Minnesota

The Affordable Care Act And The Chronic Challenge Of Cost Control, Isaac D. Buck

University of St. Thomas Journal of Law and Public Policy

No abstract provided.


Tax Constitutional Questions In Obamacare Continued: Nfib V. Sebelius In Light Of Citizens United V. Fec, Speiser V. Randall, Windsor V. United States, Lawrence V. Texas, Et Al., John R. Dorocak 2018 University of St. Thomas, Minnesota

Tax Constitutional Questions In Obamacare Continued: Nfib V. Sebelius In Light Of Citizens United V. Fec, Speiser V. Randall, Windsor V. United States, Lawrence V. Texas, Et Al., John R. Dorocak

University of St. Thomas Journal of Law and Public Policy

No abstract provided.


The Saving Construction At 5 Years, Josh Blackman 2018 University of St. Thomas, Minnesota

The Saving Construction At 5 Years, Josh Blackman

University of St. Thomas Journal of Law and Public Policy

No abstract provided.


Changing The First Lady’S Mystique: Defining The First Lady’S Legal Role And Upending Gender Norms, Ashlee A. Paxton-Turner 2018 University of Massachusetts School of Law

Changing The First Lady’S Mystique: Defining The First Lady’S Legal Role And Upending Gender Norms, Ashlee A. Paxton-Turner

University of Massachusetts Law Review

This Article explores the lack of formal guidelines governing the First Lady by first considering the history of the role and how the three branches of government have typically dealt with the role. Attention is also given to the possible intersection with the anti-nepotism statute when and if the First Lady acts as an advisor to the President. This Article then goes on to suggest that this lack of formality has allowed gender norms to govern the role. In an era where women’s rights have resurfaced as a central theme in political discourse, this Article concludes by suggesting some ...


Grasping For Energy Democracy, Shelley Welton 2018 University of South Carolina School of Law

Grasping For Energy Democracy, Shelley Welton

Michigan Law Review

Until recently, energy law has attracted relatively little citizen participation. Instead, Americans have preferred to leave matters of energy governance to expert bureaucrats. But the imperative to respond to climate change presents energy regulators with difficult choices over what our future energy sources should be, and how quickly we should transition to them—choices that are outside traditional regulatory expertise. For example, there are currently robust nationwide debates over what role new nuclear power plants and hydraulically fractured natural gas should play in our energy mix, and over how to maintain affordable energy for all while rewarding those who choose ...


The Right Tax At The Right Time, Edward D. Kleinbard 2018 University of Southern California

The Right Tax At The Right Time, Edward D. Kleinbard

University of Southern California Legal Studies Working Paper Series

The companion paper to this (Capital Taxation in an Age of Inequality) argues that a moderate flat-rate (proportional) income tax on capital imposed and collected annually has attractive theoretical and political economy properties that can be harnessed in actual tax instrument design. This paper continues the analysis by specifying in detail how such a tax might be designed.

The idea of the Dual Business Enterprise Income Tax, or Dual BEIT, is to offer business enterprises a neutral profits tax environment in which to operate, in which normal returns to capital are exempt from tax by means of an annual capital ...


Poverty, The Great Unequalizer: Improving The Delivery System For Civil Legal Aid, Latonia Haney Keith 2018 Concordia University School of Law

Poverty, The Great Unequalizer: Improving The Delivery System For Civil Legal Aid, Latonia Haney Keith

Latonia Haney Keith

Civil justice issues in the United States bring with them no guarantee of legal counsel, yet the civil legal system is still designed to require an attorney in almost all situations. Given the ever-growing costs of legal representation, how then are the legal needs of the poor met? The author calls this phenomenon the “justice gap” and addresses the issue of an access to justice gap and proposes a potential solution.

This article examines the existence of the “justice gap,” wherein the poor face substantial barriers that hinder them from receiving the same legal protections as wealthier Americans. It goes ...


The Case For Complicity-Based Religious Accommodations, 2018 University of Tennessee, Knoxville

The Case For Complicity-Based Religious Accommodations

Tennessee Journal of Law and Policy

No abstract provided.


Judicial Hot Potato: An Analysis Of Bifurcated Courts Of Last Resort In Texas And Oklahoma, 2018 University of Tennessee, Knoxville

Judicial Hot Potato: An Analysis Of Bifurcated Courts Of Last Resort In Texas And Oklahoma

Tennessee Journal of Law and Policy

No abstract provided.


A Tribute To Professor Penny White, 2018 University of Tennessee, Knoxville

A Tribute To Professor Penny White

Tennessee Journal of Law and Policy

No abstract provided.


Volume 12, Issue 2 (Winter 2018), 2018 University of Tennessee, Knoxville

Volume 12, Issue 2 (Winter 2018)

Tennessee Journal of Law and Policy

No abstract provided.


Utm, Atm, Stm… Slices Of The Sky?, Ruth E. Stilwell 2018 Norwich University

Utm, Atm, Stm… Slices Of The Sky?, Ruth E. Stilwell

Space Traffic Management Conference

UTM, ATM, STM… slices of the sky?

This paper will examine the functional differences between Unmanned Aircraft Traffic Management Systems, Air Traffic Management Systems, and Space Traffic Management. Understanding both the similarities between the systems and the different functional requirements of each concept is critical in the discussion and development of STM. While there are many commonalities in each area, it is important to understand how the different environments affect the ability to develop policies, procedure and technologies to manage the vehicles operating in the distinct environment. Both technical and legal frameworks will be discussed.

Building a conceptual framework for ...


Digital Commons powered by bepress