Open Access. Powered by Scholars. Published by Universities.®
- Discipline
-
- Business Organizations Law (9)
- Business (4)
- Business Law, Public Responsibility, and Ethics (3)
- Securities Law (3)
- Law and Economics (2)
-
- Law and Society (2)
- Social and Behavioral Sciences (2)
- Administrative Law (1)
- Communication (1)
- Communication Technology and New Media (1)
- Contracts (1)
- Economics (1)
- Education (1)
- Educational Methods (1)
- Educational Technology (1)
- Environmental Law (1)
- Environmental Sciences (1)
- Higher Education (1)
- International and Intercultural Communication (1)
- Online and Distance Education (1)
- Organizations Law (1)
- Other Communication (1)
- Other Education (1)
- Physical Sciences and Mathematics (1)
- Political Economy (1)
- Public Relations and Advertising (1)
- Scholarship of Teaching and Learning (1)
- Science and Technology Law (1)
- Sustainability (1)
- Institution
- Publication
- Publication Type
Articles 1 - 10 of 10
Full-Text Articles in Law
Corporate Social Responsibility Versus Shareholder Value Maximization: Through The Lens Of Hard And Soft Law, Min Yan
Northwestern Journal of International Law & Business
Even with a significant increase in the number of firms around the world engaging in corporate social responsibility (“CSR”), many people still perceive CSR as a voluntary commitment and shareholder value maximization (“SVM”) as a mandatory requirement. This paper borrows the concept of hard law and soft law in terms of coerciveness and overturns the stereotype that SVM is a hard-law constraint and CSR a soft-law constraint. The paper first demonstrates that directors of the board are not obliged to maximize shareholder value even in the Anglo-American jurisdictions where shareholder primacy culture is more dominant. Next, the paper critically discusses …
Western Corporate Fiscal Citizenship In The 21st Century, Alex Freund
Western Corporate Fiscal Citizenship In The 21st Century, Alex Freund
Northwestern Journal of International Law & Business
For the Western world, the challenges of the 21st Century are numerous, from climate change’s effects on food production and coastal cities to underfunded social safety nets to automation’s impact on the middle class. To handle such costly problems, government intervention will be required. Government intervention, however, always comes at a cost to either individuals or corporations. To determine who should bear these costs, scholars and experts should turn to notions of fiscal citizenship – the social contract between the state and private parties through taxation and the provision of goods and services. By applying principles of individual fiscal citizenship …
Making Sustainability Disclosure Sustainable, Jill E. Fisch
Making Sustainability Disclosure Sustainable, Jill E. Fisch
All Faculty Scholarship
Sustainability is receiving increasing attention from issuers, investors and regulators. The desire to understand issuer sustainability practices and their relationship to economic performance has resulted in a proliferation of sustainability disclosure regimes and standards. The range of approaches to disclosure, however, limit the comparability and reliability of the information disclosed. The Securities & Exchange Commission (SEC) has solicited comment on whether to require expanded sustainability disclosures in issuer’s periodic financial reporting, and investors have communicated broad-based support for such expanded disclosures, but, to date, the SEC has not required general sustainability disclosure.
This Article argues that claims about the relationship …
Say On Purpose: Lessons From Chinese Corporate Charters, Li-Wen Lin
Say On Purpose: Lessons From Chinese Corporate Charters, Li-Wen Lin
All Faculty Publications
No abstract provided.
Mandatory Corporate Social Responsibility? Legislative Innovation And Judicial Application In China, Li-Wen Lin
Mandatory Corporate Social Responsibility? Legislative Innovation And Judicial Application In China, Li-Wen Lin
All Faculty Publications
Corporate social responsibility (CSR) is often understood as voluntary corporate behavior beyond legal compliance. The recent emergence of CSR legislation is challenging this typical understanding. A number of countries including China, Indonesia and India have expressly stated in corporate law that companies shall undertake CSR. The CSR law is controversial. Critics of CSR see the law as an unwise effort to challenge profit maximization as the only social responsibility of the corporation. Even CSR advocates welcome the CSR law with great caution. Given the vague statutory language of CSR, the practical application of the law places high demands on the …
Globalizing Online Learning: Exploring Culture, Corporate Social Responsibility, And Domestic Violence In An International Classroom, Daniela Peterka-Benton, Bond Benton
Globalizing Online Learning: Exploring Culture, Corporate Social Responsibility, And Domestic Violence In An International Classroom, Daniela Peterka-Benton, Bond Benton
Department of Justice Studies Faculty Scholarship and Creative Works
The construction of a successful online collaboration between distinct cultural groups requires an informed cultural awareness. This is the exploration of such an online collaboration between American and Turkish Students. The focus of the shared student interaction was the concept of corporate social responsibility. As the concept is enacted differently in different cultures, this represented an ideal opportunity for topical student reflection and for cultural exploration. The approach utilized focused on relationship-building as a preface to content discussion based participant preferences suggested by relevant cultural research (e.g., Hofstede). Corporate social responsibility campaigns in the United States and Turkey focused on …
Taking Shareholders' Social Preferences Seriously: Confronting A New Agency Problem, Adi Libson
Taking Shareholders' Social Preferences Seriously: Confronting A New Agency Problem, Adi Libson
UC Irvine Law Review
Oliver Hart, Nobel Laureate in Economics for 2016, and economist Luigi Zingales recently published an article justifying companies’ pursuit of social objectives at the expense of profits from within the shareholder primacy framework. This Article highlights an important consequence of this approach: a new agency problem between managers and shareholders regarding social preferences. This Article provides two possible solutions to this agency problem: a bottom-up solution focused on shareholders’ ability to submit proposals on such issues and a top-down solution based on an independent board sub- committee intended to identify social objectives and forward them for shareholder approval.
Reconstructing The Corporation: A Mutual-Control Model Of Corporate Governance, Grant M. Hayden, Matthew T. Bodie
Reconstructing The Corporation: A Mutual-Control Model Of Corporate Governance, Grant M. Hayden, Matthew T. Bodie
All Faculty Scholarship
The consensus around shareholder primacy is crumbling. Investors, long assumed to be uncomplicated profit-maximizers, are looking for ways to express a wider range of values in allocating their funds. Workers are agitating for greater voice at their workplaces. And prominent legislators have recently proposed corporate law reforms that would put a sizable number of employee representatives on the boards of directors of large public companies. These rumblings of public discontent are echoed in recent corporate law scholarship, which has cataloged the costs of shareholder control, touted the advantages of nonvoting stock, and questioned whether activist holders of various stripes are …
The Corporation Reborn: From Shareholder Primacy To Shared Governance, Grant M. Hayden, Matthew T. Bodie
The Corporation Reborn: From Shareholder Primacy To Shared Governance, Grant M. Hayden, Matthew T. Bodie
All Faculty Scholarship
The consensus around shareholder primacy is crumbling. Investors, long assumed to be uncomplicated profit-maximizers, are looking for ways to express a wider range of values in allocating their funds. Workers are agitating for greater voice at their workplaces. And prominent legislators have recently proposed corporate law reforms that would put a sizable number of employee representatives on the boards of directors of large public companies. These rumblings of public discontent are echoed in recent corporate law scholarship, which has cataloged the costs of shareholder control, touted the advantages of nonvoting stock, and questioned whether activist holders of various stripes are …
Quasi Governments And Inchoate Law: Berle's Vision Of Limits On Corporate Power, Elizabeth Pollman
Quasi Governments And Inchoate Law: Berle's Vision Of Limits On Corporate Power, Elizabeth Pollman
All Faculty Scholarship
In honor of the Berle X Symposium, this essay gives prominence to key writings of the distinguished corporate law scholar Adolf A. Berle, Jr. from the 1950s and 60s. By the early 1950s, Berle had rejoined academic life after years in government service. When he returned to scholarly writing, Berle repeatedly highlighted the problem of economic power in corporations. He wrote about this as both an issue of “bigness” as an absolute matter and relative to particular industries in terms of concentration. He conceded that history had vindicated the late Professor E. Merrick Dodd’s view that directors of large corporations …