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Full-Text Articles in Law
Contribution Arguments In Commercial Law, Steven Walt, Emily Sherwin
Contribution Arguments In Commercial Law, Steven Walt, Emily Sherwin
Cornell Law Faculty Publications
No abstract provided.
Pensions And Passivity, Gregory S. Alexander
Pensions And Passivity, Gregory S. Alexander
Cornell Law Faculty Publications
This article discusses how modem fiduciary law has extended equity's tradition of constructing ownership as passive through the corporate pension system. It examines how the corporate pension system as a mode of owning pooled capital is a new stage of passive ownership. This stage creates a different aspect of the familiar problem of separating control from beneficial ownership. Berle and Means argued that the problem that the separation of control from ownership created was economic. The interests of managers and shareholders in the modern corporation diverge, and, they argued, this divergence diminishes the overall efficiency of the modern economy, dominated …