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Annual Report 2019-2020, Ira M. Millstein Center For Global Markets And Corporate Ownership
Annual Report 2019-2020, Ira M. Millstein Center For Global Markets And Corporate Ownership
Ira M. Millstein Center for Global Markets and Corporate Ownership
Looking back on the 2019-2020 academic year, we are pleased to reflect on another highly productive period for the Millstein Center.
Changes In Ownership: Beyond The Berle-Means Paradigm, Ira M. Millstein Center For Global Markets And Corporate Ownership
Changes In Ownership: Beyond The Berle-Means Paradigm, Ira M. Millstein Center For Global Markets And Corporate Ownership
Ira M. Millstein Center for Global Markets and Corporate Ownership
The “Changes in Ownership: Beyond the Berle-Means Paradigm” Symposium, held April 2013, explored whether, and how, the recent explosion of new ownership models alters the paradigm of dispersed ownership developed by Adolf Berle and Gardiner Means three generations ago. That model indicated that public corporations were owned by dispersed shareholders whose separate ownership positions were too small to justify extensive monitoring of managerial performance. This view of the distribution of ownership in U.S. corporations has been foundational for both much academic work and for much of corporate law and governance, which have been aimed at addressing the monitoring shortfall.
The …