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Full-Text Articles in Law
A Control-Based Approach To Shareholder Liability For Corporate Torts, Nina A. Mendelson
A Control-Based Approach To Shareholder Liability For Corporate Torts, Nina A. Mendelson
Articles
Some commentators defend limited shareholder liability for torts and statutory violations as efficient, even though it encourages corporations to overinvest in and to externalize the costs of risky activity. Others propose pro rata unlimited shareholder liability for corporate torts. Both approaches, however, fail to account fully for qualitative differences among shareholders. Controlling shareholders, in particular, may have lower information costs, greater influence over managerial decisionmaking, and greater ability to benefit from corporate activity. This Article develops a control-based approach to shareholder liability. It first explores several differences among shareholders. For example, a controlling shareholder can more easily curb managerial risk …
A New Old Look At Terrorism Insurance: Jack Hirshleifer’S War Damages Insurance After 50 Years [Essay On War Damages Insurance, By Jack Hirshleifer, 35 Rev. Econ. & Statist. 144 (1953)], Peter Siegelman
Peter Siegelman
No abstract provided.