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Full-Text Articles in Law
Individual Autonomy In Corporate Law, Elisabeth De Fontenay
Individual Autonomy In Corporate Law, Elisabeth De Fontenay
Faculty Scholarship
The field of corporate law is riven with competing visions of the corporation. This Article seeks to identify points of broad agreement by negative implication. It examines two developments in corporate law that have drawn widespread criticism from corporate law scholars: the Supreme Court's recognition of corporate religious rights in Burwell v. Hobby Lobby and the Nevada legislature's decision to eliminate mandatory fiduciary duties for corporate directors and officers. Despite their fundamental differences, both resulted in expanding individual rights or autonomy within the corporation-for shareholders and managers, respectively.
The visceral critiques aimed at these two developments suggest a broadly shared …
The Myth Of The Ideal Investor, Elisabeth De Fontenay
The Myth Of The Ideal Investor, Elisabeth De Fontenay
Faculty Scholarship
Critiques of specific investor behavior often assume an ideal investor against which all others should be compared. This ideal investor figures prominently in the heated debates over the impact of investor time horizons on firm value. In much of the commentary, the ideal is a longterm investor that actively monitors management, but the specifics are typically left vague. That is no coincidence. The various characteristics that we might wish for in such an investor cannot peacefully coexist in practice.
If the ideal investor remains illusory, which of the real-world investor types should we champion instead? The answer, I argue, is …