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Stock Market, Corporations And Their Regulation: A Few Glimpses Into Reality, Palladam M. Vasudev
Stock Market, Corporations And Their Regulation: A Few Glimpses Into Reality, Palladam M. Vasudev
Palladam M Vasudev
The paper examines events in three public companies – Enron Corp., Sycamore Networks and Amazon.com, from the perspective of corporate law and securities law. The events are interpreted in terms of the applicable law, and explain how it influences them. In particular, the paper demonstrates how the prevailing loose legal regime for corporations and the stock market-centricity of corporate arrangements give rise to specific varieties of negative behaviour. The paper adopts a critical approach, and is an effort to describe the consequences of the minimalist philosophy underlying corporate and securities regulation.
Companies And Corporations: Their Transition From Status To Contract And Its Political Economy, Palladam M. Vasudev
Companies And Corporations: Their Transition From Status To Contract And Its Political Economy, Palladam M. Vasudev
Palladam M Vasudev
This article traces the state of corporate law in the English-speaking world since 1720, identifies the political economy of the changes that occurred since mid-nineteenth century, and the consequences for corporate law. During this period, there was a transition from the position that incorporation was a status to be conferred by the law to the position that they were the products of private contracts. In addition, they came to be treated as the property of their shareholders. These conceptual changes have had far-reaching consequences for the growth of corporations and were used to largely abandon the public regulation of corporations. …