Specificity And Time Horizons,
2018
Seattle University School of Law
Specificity And Time Horizons, Frank Partnoy
Seattle University Law Review
This Essay argues that the short-termism debate would benefit from greater clarity and specificity regarding time horizons. I make four points. First, optimal time horizons vary in discernible ways. Second, the potential mismatch between actual and optimal time horizons should generate a range of responses. Third, investors and managers can discern and disclose estimates of actual and optimal time horizons (e.g., using categories such as preconscious, fast conscious, slow conscious, and discounting). Fourth, market participants, policy makers, and scholars should use such estimates to be more precise about time horizons. For example, critics of hedge fund activism could recognize that …
The Myth Of The Ideal Investor,
2018
Seattle University School of Law
The Myth Of The Ideal Investor, Elisabeth De Fontenay
Seattle University Law Review
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 …
Long-Term Executive Compensation As A Remedy For Corporate Short-Termism,
2018
Seattle University School of Law
Long-Term Executive Compensation As A Remedy For Corporate Short-Termism, Caroline Flammer
Seattle University Law Review
It is often argued that corporations are too focused on the short term (i.e., they are “short-termist”). For example, during the 2016 U.S. presidential campaign, candidate Hillary Clinton urged companies to escape the tyranny of short-termism. Similarly, in the recent policy debate in the United Kingdom on the need to reform corporate governance and executive compensation, Bank of England’s Chief Economist Andy Haldane stated that “[e]xecutive pay is a matter of profound and legitimate public interest. Pay practices can encourage short-term behaviour in ways which harm both firms and the economy.” In this context, a recent article by Flammer and …
Institutional Investors, Corporate Governance, And Firm Value,
2018
Seattle University School of Law
Institutional Investors, Corporate Governance, And Firm Value, K.J. Martijn Cremers, Simone M. Sepe
Seattle University Law Review
In the corporate governance debate, the short-term versus longterm contention has grown into perhaps today’s most controversial topic. In this debate, descriptions of institutional investors tend to present a dichotomic nature. These investors are alternatively portrayed as homogenously short-termist or as consistent “forces for good,” focused on targeting underperforming companies. This Article moves beyond this dichotomy. It shows empirically that aggregate institutional investor behavior presents nuances that depend on a variety of factors, including individual firm characteristics, institutional ownership levels, and institutional propensity toward activism.
Flash Traders (Milliseconds) To Indexed Institutions (Centuries): The Challenges Of An Agency Theory Approach To Governance In The Era Of Diverse Investor Time Horizons,
2018
Seattle University School of Law
Flash Traders (Milliseconds) To Indexed Institutions (Centuries): The Challenges Of An Agency Theory Approach To Governance In The Era Of Diverse Investor Time Horizons, Harold Weston, Conrad Ciccotello
Seattle University Law Review
One aspect of the problem in trying to align a corporate investment horizon (the time period for return on investment) to that of its shareholders is the enormous range of investor time horizons, which can range from milliseconds to centuries. A second aspect of the problem is whether ownership of shares equates to ownership of the corporation. A third aspect of the problem is that, despite the theories and advocacy of shareholders being owners, based on the agency model of corporate finance first developed in the 1970s, the theory is contrary to corporate law. These three aspects will be developed …
Predictive Neglect And "Unfit" Mothers - When Having A Mental Illness Means The State Takes Your Child,
2018
Rutgers School of Law
Predictive Neglect And "Unfit" Mothers - When Having A Mental Illness Means The State Takes Your Child, Amelia Lyte
DePaul Journal of Women, Gender and the Law
No abstract provided.
Panel Discussion: Author Meets Critic,
2018
Northwestern Pritzker School of Law
Panel Discussion: Author Meets Critic
Northwestern Journal of Law & Social Policy
No abstract provided.
Panel Discussion: Ethnographic Evidence,
2018
Northwestern Pritzker School of Law
Panel Discussion: Ethnographic Evidence
Northwestern Journal of Law & Social Policy
No abstract provided.
Duty And Disobedience: The Conflict Of
Conscience And Compliance In The Trump Era,
2018
Pepperdine University
Duty And Disobedience: The Conflict Of Conscience And Compliance In The Trump Era, Keith A. Petty
Pepperdine Law Review
In the first weeks of President Trump’s administration, the Acting Attorney General was fired for ordering the Justice Department not to enforce a controversial Executive Order on immigration. Police departments and corporate boardrooms prepare for deregulation and less oversight, opening the door to more aggressive police tactics and profit seeking, respectively. Military leaders wonder whether they will be ordered to torture suspected terrorists. In each of these situations, individuals must decide whether they will follow their conscience and disobey superiors, or comply with organizational and state policies. This article examines the conflict between conscience and compliance, and draws upon lessons …
Fear-Based Provocation,
2018
Washington and Lee University School of Law
Fear-Based Provocation, Michal Buchhandler-Raphael
Scholarly Articles
This Article offers three major contributions to challenge existing view of provocation: first, it considers psychological research that found that fear, similarly to anger, may also significantly interfere with individuals’ decision making processes by disturbing rational judgment, therefore sometimes leading to lethal aggression. Second, drawing on this research, this Article argues that provocation doctrine should be reconstructed to also include a fear-based prong. Third, recognizing fear-based provocation calls for rejecting the loss of control paradigm that currently dominates judges’ and jurors’ perception of the defense. In its place, this Article advocates focusing on the fearful defendant’s fear of violence threatened …
The Paralysis Paradox And The Untapped Role Of Science In Solving “Big” “Environmental Problems,
2018
University of Denver
The Paralysis Paradox And The Untapped Role Of Science In Solving “Big” “Environmental Problems, Jan G. Laitos, Christopher Ainscough
Sturm College of Law: Faculty Scholarship
Part I considers the daunting scope and extent of the environmental problem addressed by the article. The “problem” consists of an enormous number of abandoned mines and AMLs in the West, affecting numerous rivers and watersheds, where the cost of mine cleanup seems astronomical, and the source of the money to pay for the cleanup elusive. In Part I, probability theory is used to assess the true scope of the AML problem, by estimating the impacts and risks to people and their environment. Part II addresses the state of current law as it applies to abandoned hardrock mines. A review …
Crafting Next Generation Eco-Label Policy,
2018
Elisabeth Haub School of Law at Pace University
Crafting Next Generation Eco-Label Policy, Jason J. Czarnezki, Katrina F. Kuh
Elisabeth Haub School of Law Faculty Publications
Eco-labels present a promising policy tool in the effort to achieve sustainable consumption. Many questions remain, however, about the extent to which eco-labels can contribute to sustainability efforts and how to maximize their effectiveness. This Article deploys research from evolutionary psychology, behavioral law and economics, and norm theory to offer specific insights for the design and implementation of eco-labels to enhance their influence on sustainable consumer choice. Notably, this research suggests possibilities for eco-labels to shape or expand consumer preferences for green goods, and thereby enhance eco-label influence on consumer behavior by extending it beyond eco-minded consumers. We suggest that …
Capital-Sentencing Law And The New Conservative Court,
2018
Chapman University, Fowler School of Law
Capital-Sentencing Law And The New Conservative Court, Scott W. Howe
Cardozo Law Review de•novo
With the Supreme Court now dominated by a solidly conservative majority, recent, well-grounded hopes for prompt judicial abolition of the death penalty have vanished. Furthermore, existing Eighth Amendment doctrines that limit the death penalty could be in jeopardy. Historically, many advocates for abolition have criticized these doctrines. They claim that the Eighth Amendment prohibition on Cruel and Unusual Punishments requires “consistency” in capital selection and that current capital-sentencing doctrines do not satisfy—and sometimes conflict with— this requirement. However, these advocates failed to anticipate the need to defend these doctrines should judicial abolition become an impossibility and the rolling-back of current …
Criminal Juries In The 21st Century: A Case-Study Introduction To Contemporary Issues,
2018
University of Evansville
Criminal Juries In The 21st Century: A Case-Study Introduction To Contemporary Issues, Margaret C. Stevenson, Cynthia J. Najdowski
Psychology Faculty Scholarship
In this introductory chapter, we provide an overview of the goals of the present volume and a preview of the individual chapters herein. Specifically, we review research on various understudied and cutting-edge topics related to the intersection of psychological research and criminal jury decision making. This research is placed in the real-world context by relating it to actual criminal cases that exemplify each topic addressed in the volume. A common theme reflected throughout the chapter is an emphasis on understanding how current issues related to societal attitudinal shifts, technological advances, and juror experiences affect the structure, function, and performance of …
Childhood Adverse Events And Adult Physical And Mental Health: A National Study,
2018
University of Richmond - School of Law
Childhood Adverse Events And Adult Physical And Mental Health: A National Study, Lauren E. Clatch
Law Faculty Publications
Prior research has established the negative effects of childhood adverse events on adult health. Despite this, few researchers have accounted for the impact of potentially confounding factors, including adulthood adverse events. The current study used data obtained from a uniquely generalizable sample (N = 34,653) to investigate the predictive effects of reported experience of any childhood adverse event, count of childhood adverse event types, and severity of childhood adverse events on quality of adult physical and mental health. A hierarchical linear regression analysis indicated that, for adult physical health, there was a significant main effect for experience of adulthood adverse …
Book Review: Surrogacy: A Human Rights Violation By Renate Klein,
2018
Dare To Tell
Book Review: Surrogacy: A Human Rights Violation By Renate Klein, Kate Rose
Dignity: A Journal of Analysis of Exploitation and Violence
No abstract provided.
Book Review: The Pimping Of Prostitution: Abolishing The Sex Work Myth By Julie Bindel,
2018
The University of Kent
Book Review: The Pimping Of Prostitution: Abolishing The Sex Work Myth By Julie Bindel, Roger Matthews
Dignity: A Journal of Analysis of Exploitation and Violence
No abstract provided.
Implicit Racial Biases In Prosecutorial Summations: Proposing An Integrated Response,
2018
Fordham University School of Law
Implicit Racial Biases In Prosecutorial Summations: Proposing An Integrated Response, Praatika Prasad
Fordham Law Review
Racial bias has evolved from the explicit racism of the Jim Crow era to amore subtle and difficult-to-detect form: implicit racial bias. Implicit racial biases exist unconsciously and include negative racial stereotypes andassociations. Everyone, including actors in the criminal justice system who believe themselves to be fair, possess these biases. Although inaccessible through introspection, implicit biases can easily be triggered through language. When trials involve Black defendants, prosecutors’ summations increasingly include racial themes that could trigger jurors’ implicit biases, lead to the perpetuation of unfair stereotypes, and contribute to racial injustice and disparate outcomes. This Note examines and critiques the …
Aspirations Of Objectivity: Systemic Illusions Of Justice In The Biased Courtroom,
2018
Claremont Colleges
Aspirations Of Objectivity: Systemic Illusions Of Justice In The Biased Courtroom, Meagan B. Roderique
Scripps Senior Theses
Given the ever-growing body of evidence surrounding implicit bias in and beyond the institution of the law, there is an equally growing need for the law to respond to the accurate science of prejudice in its aspiration to objective practice and just decision-making. Examined herein are the existing legal conceptualizations of implicit bias as utilized in the courtroom; implicit bias as peripheral to law and implicit bias as effectual in law, but not without active resolution. These views and the interventional methods, materials, and procedures they inspire are widely employed to appreciably “un-bias” legal actors and civic participants; however, without …
Boost: Improving Mindfulness, Thinking, And Diversity,
2018
University of Colorado Law School
Boost: Improving Mindfulness, Thinking, And Diversity, Peter H. Huang
Publications
Many important decisions can be difficult; require focused, cognitive attention; produce delayed, noisy feedback; benefit from careful and clear thinking; and quite often trigger anxiety, stress, and other strong, negative emotions. Much empirical, experimental, and field research finds that we often make decisions leading to outcomes we judge as suboptimal. These studies have contributed to the popularity of the idea of nudging people to achieve better outcomes by changing how choices and information are framed and presented (also known as choice architecture and information architecture). Although choice architecture and information architecture can nudge people into better outcomes, choice architecture and …
