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Full-Text Articles in Law
A Necessary Social Evil: The Indispensability Of The Shareholder Value Corporation, Marc T. Moore
A Necessary Social Evil: The Indispensability Of The Shareholder Value Corporation, Marc T. Moore
Seattle University Law Review
This symposium article critically evaluates the developing Post-Shareholder-Value (PSV) paradigm in corporate governance scholarship and practice with particular reference to Professor Colin Mayer’s influential theory of the corporation as a unique, long-term “commitment device.” The article’s positive claim is that, while evolving PSV institutional mechanisms such as benefit corporations and dual-class share structures are generally encouraging from a social perspective, there is cause for skepticism about their capacity to become anything more than a niche or peripheral feature of the U.S. public corporations landscape. This is because such measures, despite their apparent reformist potential, are still ultimately quasi-contractual and thus …
Benefit Corporations And Public Markets: First Experiments And Next Steps, Brett H. Mcdonnell
Benefit Corporations And Public Markets: First Experiments And Next Steps, Brett H. Mcdonnell
Seattle University Law Review
Part I begins by considering the leading benefits and costs for a benefit corporation that chooses to go public. It starts there both to begin gaining an understanding of the challenges public companies will face and also to consider whether going public is likely to actually be an attractive option at all for some set of social enterprises. Some of the benefits and costs of going public are the same for benefit corporations as for ordinary corporations—access to new sources of capital and new accountability mechanisms are benefits, but legal compliance and pressures from shareholders to show quick results are …
Redefining Corporate Purpose: An International Perspective, Afra Afsharipour
Redefining Corporate Purpose: An International Perspective, Afra Afsharipour
Seattle University Law Review
This comparative analysis of India’s move toward redefining corporate purpose proceeds as follow. Part I presents an overview of global debates over corporate purpose, drawing principally from the move toward the ESV model in the U.K. and benefit corporations in the U.S. This section briefly recounts the debates in both jurisdictions about whether the changes they have experienced will engender more socially responsible corporations. Part II then provides a condensed history of corporate law reforms in India and an overview of the legislative changes undertaken in the past decade. In Part II, this Article takes a broad approach toward analyzing …