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Full-Text Articles in Law
The Impact Of "Going Private" On Corporate Stakeholders, Kent Greenfield
The Impact Of "Going Private" On Corporate Stakeholders, Kent Greenfield
Kent Greenfield
As capital markets in the United States increasingly "go private," it is unclear how the privatization of corporate finance will affect non-shareholder stakeholders of firms, most centrally employees, communities, and the environment. Some scholars and public policy experts believe that concern for such stakeholders should not hold any relevance in the discussion of corporate law in general, and thus may be presumed to believe the same about a conversation about privatization. In such a view, these concerns lie outside the realm of corporate governance law; they therefore should be of no great moment in the debate over whether public policy …
The Model Business Corporation Act At Sixty: Shareholders And Their Influence, Lisa Fairfax
The Model Business Corporation Act At Sixty: Shareholders And Their Influence, Lisa Fairfax
All Faculty Scholarship
In the sixty years since the Committee on Corporate Laws (Committee) promulgated the Model Business Corporation Act (MBCA), there have been significant changes in corporate law and corporate governance. One such change has been an increase in shareholder activism aimed at enhancing shareholders’ voting power and influence over corporate affairs. Such increased shareholder activism (along with its potential for increase in shareholder power) has sparked considerable debate. Advocates of increasing shareholder power insist that augmenting shareholders’ voting rights and influence over corporate affairs is vital not only for ensuring board and managerial accountability, but also for curbing fraud and other …