Open Access. Powered by Scholars. Published by Universities.®
- Keyword
Articles 1 - 3 of 3
Full-Text Articles in Law
Corporate Shaming Revisited: An Essay For Bill Klein, David A. Skeel Jr.
Corporate Shaming Revisited: An Essay For Bill Klein, David A. Skeel Jr.
All Faculty Scholarship
No abstract provided.
The Academic Tournament Over Executive Compensation, William W. Bratton
The Academic Tournament Over Executive Compensation, William W. Bratton
All Faculty Scholarship
No abstract provided.
On The Nature Of Corporations, Lynn A. Stout
On The Nature Of Corporations, Lynn A. Stout
Cornell Law Faculty Publications
Legal experts traditionally distinguish corporations from unincorporated business forms by focusing on corporate characteristics like limited shareholder liability, centralized management, perpetual life, and free transferability of shares. While such approaches have value, this essay argues that the nature of the corporation can be better understood by focusing on a fifth, often-overlooked, characteristic of corporations: their capacity to "lock in" equity investors' initial capital contributions by making it far more difficult for those investors to subsequently withdraw assets from the firm. Like a tar pit, a corporation is much easier for equity investors to get into, than to get out of. …