Work, Economy and Organizations Commons^™

Power Without Property, Still: Unger, Berle, And The Derivatives Revolution, Cristie Ford, Carol Liao

Seattle University Law Review

We are in a time when the notion of property is in flux. The derivatives revolution has shattered the “atom of property” well beyond what was originally imagined in 1932 by Adolf Berle and Gardiner Means. This disaggregation has had fascinating, and often adverse, effects on corporate law and securities regulation. Moreover, the phenomenon has had the unexpected effect of permitting some parties that already possess considerable social, economic, and political power to accumulate even more.

The New Financial Assets: Separating Ownership From Control, Tamar Frankel

Seattle University Law Review

In The Modern Corporation and Private Property, Adolf A. Berle and Gardiner Means wrote about the separation of ownership from control in corporations. They noted that the interests of the controlling directors and managers can diverge from those of the shareholder owners of the firm. . . . There are those who consider such a decoupling beneficial. Others express the same concern that Berle and Means have expressed. And depending on what one focuses on in viewing the pluses and minuses of these separations, one could reach different conclusions. I reach a number of conclusions. First, the separation of …

Then And Now: Professor Berle And The Unpredictable Shareholder, Jennifer G. Hill

Seattle University Law Review

Shareholders, and the relationship between shareholders and management, lay at the heart of Professor Berle’s scholarship. The goal of this Article is to compare the image of shareholders emerging from The Modern Corporation and Private Property and the Berle/Dodd debate with a range of contemporary visions of the shareholder that underpin some international regulatory responses to recent financial debacles, from Enron to the current global financial crisis. As the Article dis- cusses, these recent developments in the era of financial crises have prompted a reevaluation of the traditional image of the shareholder—and the role of the shareholder in the modern …

Berle And The Entrepreneur, Charles R.T. O'Kelley

Seattle University Law Review

In the first and last four chapters (“the Five Chapters”) of The Modern Corporation and Private Property, Adolf Berle, Jr. describes in sweeping terms a fundamental transformation of the American economy. . . . Writing more than ten years before Berle, another seminal scholar, Frank Knight . . . developed a theory of the entrepreneur as part of his larger effort to more carefully explain the theoretical underpinnings of a free-market economy. . . . Given Knight’s prominence and the fact that Knight apparently reached dramatically different conclusions than did Berle concerning the consequences flowing from separation of ownership …

The Birth Of Corporate Governance, Harwell Wells

Seattle University Law Review

Part I of this Article briefly examines the concept of “corporate governance” and argues for dating the concept’s origins to the debates of the 1920s. Part II then moves on to examine early scholarly and popular discussions of the separation of ownership and control. After surveying the historical developments that produced the recognizably modern corporate economy around the turn of the century, it examines early scholarly and popular discussions of the separation of ownership and control, focusing on three major thinkers, Louis D. Brandeis, Walter Lippmann, and Thorstein Veblen. It argues that, while each of these authors examined the separation …

Microfinance And Women’S Empowerment In Honduras, Katherine Sugg

Sociology Honors Papers

This thesis examines the possibilities for women’s empowerment through microfinance. It utilizes the results of a survey conducted in 2009 with clients of the microfinance organization FINCA Honduras. The analysis of these survey results yields important conclusions on FINCA Honduras’ ability to empower Honduran women economically, psychologically, and socio-culturally. The original hypothesis of this study stated that FINCA Honduras’ financial services would help the female client to improve her standard of living, her psychological well-being, and her gender relationships in the home. FINCA Honduras has partially succeeded in empowering its female clients in these ways, but currently lacks the specific …

Monitoring To Reduce Agency Costs: Examining The Behavior Of Independent And Non-Independent Boards, Anita Anand, Frank Milne, Lynnette Purda

Seattle University Law Review

Berle and Means’s analysis of the corporation—in particular, their view that those in control are not the owners of the corporation—raises questions about actions that corporations take to counter concerns regarding management’s influence. What mechanisms, if any, do corporations implement to balance the distribution of power in the corporation? To address this question, we analyze boards of directors’ propensity to voluntarily adopt recommended corporate governance practices. Because board independence is one way to enhance shareholders’ ability to monitor management, we probe whether firms with independent boards of directors (which we define as boards with either an independent chair or a …

Securities Intermediaries And The Separation Of Ownership From Control, Jill E. Fisch

Seattle University Law Review

The Modern Corporation & Private Property is a paradigm-shifting analysis of the modern corporation. The book is perhaps best known for the insights of Berle and Means about the separation of ownership from control and the consequences of that separation for the allocation of power within the corporation. The Berle and Means story focuses on the shareholder as the owner of the corporation. Berle and Means saw the mechanism of centralized management—in which the shareholder retains the economic interest but not the control rights associated with ownership—as threatening the conception of shareholder interests in terms of property rights. In particular, …

The Modern Corporation As Social Construction, Mark S. Mizruchi, Daniel Hirschman

Seattle University Law Review

Classic works, Mark Mizruchi and Lisa Fein argued, share a particular fate. Authors often cite classic works without reading them—or without reading them carefully. . . . Yet perhaps no single work fits the above description better than one of the most important books on the large corporation ever published: Adolf Berle and Gardiner Means’s The Modern Corporation and Private Property. One can speculate that few works in the social sciences have been as often cited and as little read. As a consequence, we would expect The Modern Corporation to be a good candidate for either selective interpretation or …

Spreading A Positive Message About Work, Earnings And Benefits Through Peer Networking: Findings From The Peer Employment Benefits Network, Jennifer Sullivan Sulewski, Rick Kugler, John Kramer

All Institute for Community Inclusion Publications

Misunderstanding and fears about the impact of earnings on benefits represent a significant barrier in the return-to-work efforts of people with disabilities. This pilot project evaluated an approach to spreading a positive message about work and dispelling myths about the effects of work on Social Security benefits through outreach and networking in the disability community. A peer leadership project was developed by enlisting 33 people with disabilities, mainly through disability advocacy organizations, who had experience with disability benefits. They received several days of basic training about work incentives, networking strategies, and community resources that support employment. These peer leaders then …

Domesticating The Diaspora: Memory And The Life Of Sister Katie, Caroline Waldron Merithew

History Faculty Publications

Three shrines in Illinois honor heroes of the working class: one for the legendary Mother Jones; one for the Virden martyrs, who died for coal mining unionism, and whose memory is kept alive by labor organizers around the world; and one for Catherine (Katie) Bianco DeRorre. Katie's monument, unlike the others, draws few visitors today. But when it was dedicated in 1961, men and women — on the floor of the U.S. Congress, in the neighborhood where Katie grew up, at American universities, in union halls, on the streets of New York City, and in Milan — took notice and …

Preventing Security Breaches In Business, Pearl Jacobs, Linda Schain

Criminal Justice Faculty Publications

Technological advancements are constantly changing the world we live in. These advancements are not only changing how we work but also the security of our workplace. High level white collar crime is rapidly becoming a fact of corporate life. Businesses want to avoid becoming victims of these white collar criminals so they attempt to institute controls on all aspects of their operations. These controls are far from 100% effective. Businesses need to take a different approach to the prevention of white collar crime. Perhaps more effective prevention programs can be developed by exploring the various theories of crime causation and …

Low Income And Impoverished Families Pay Disproportionately More For Child Care, Kristin Smith, Kristi Gozjolko

Carsey Publications

According to research based on the 2004 Survey of Income and Program Participation, working families with young children living in poverty pay 32 percent of their income on child care, nearly five times more than families living at more than 200 percent of the poverty level. This brief asks policy makers to consider allowing more subsidies to be available to those who could benefit most from them.

Impact Of Higher Education Workplace Relations Requirements On Nteu Membership Density, Tulsi Laxman Panchani

Theses : Honours

The National Tertiary Education Union (NTEU) is the only union working entirely in tertiary education around Australia. The union has over twenty four thousand members comprising of academic and general staff. NTEU maintains membership records at three levels, national, state and branch. The information collected includes gender, age group, employment type and work classification. In late April 2005, Higher Education Workplace Relations Requirements (HEWRRs) legislation was introduced by the Australian government. This legislation imposed restrictions on the interaction between the universities and the union and also curtailed an automatic involvement of the union in the resolution of workplace issues. The …

The Work Practices And Employment Patterns Of Parents Of A Child With Rett Syndrome, Jessica Coles

Theses : Honours

Objective: To review the literature examining the work practices and employment patterns of parents of a child with an intellectual disability, with a specific focus on Rett syndrome. Method: Electronic database searches of Medline, Cinahl and ISI Web of Knowledge and manual searches of reference lists were conducted. Government Reports obtained from Australian Bureau of Statistics were also examined. Quality of articles was assessed using Qualitative and Quantitative Assessment Checklists from Standard Quality Assessment Criteria for Evaluating Primary Research Papers used to assess quality of literature. Results: The work practices and employment patterns of parents of children …

Corporate Power In The Public Eye: Reassessing The Implications Of Berle’S Public Consensus Theory, Marc T. Moore, Antoine Rebérioux

Seattle University Law Review

We analyze Berle’s overall corporate governance project in accordance with what we see as its four core sub-themes: (A) the limitations of external market forces as a constraint on managerial decision-making power; (B) the desirability of internal (corporate) over external (market) actors in allocating corporate capital; (C) civil society and the public consensus as a continuous informal check on managerial decision-making power; and (D) shareholder democracy (as opposed to shareholder primacy or shareholder wealth maximization) as a socially instrumental institution. We seek to debunk the popular misconception that Berle’s early work was a defense of the orthodox shareholder primacy paradigm …

Pay It Forward: Career Advice From An Aspa Member, Christine G. Springer

Public Policy and Leadership Faculty Research

As a practitioner, a business woman and an academic in the public service, I often serve on interview panels and also am asked to assist students and practitioners with getting or changing their job in these challenging times. I have discovered that many qualified workers are changing jobs and changing organizations and that doing so successfully requires that they focus on what they truly want to do with their lives. When I have conversations with students and new and experienced professionals about moving ahead in their careers, I usually attempt to get them to focus on the following five key …

Issues Faced By Female Middle Managers On Returning To The Workplace Following Maternity Leave., Flora Buckley

Theses

The increased participation of women in the workforce has been one of the major changes in the labour force in recent years. The nature of Ireland’s workforce has changed radically in the past twenty years and women, whether for personal or financial reasons, are now an established part of the workforce. Despite the rapid increase in female participation in the paid labour-force, considerable evidence has been gathered that documents a dearth of women in executive level positions not just in Ireland, but internationally.

Many studies have highlighted issues women face in progressing to senior level management. There is, however, very …

Correlation Between The Leadership Practices Of Lead Ministers And The Workplace Spirituality Of Their Churches As Reported By Church Members, Richard A. Devost

Dissertations

Purpose. People seek for meaning in their work and lives. Researchers have recently conceptualized the experience of meaning at work under the construct workplace spirituality, which describes people's experience of both their work and their workplaces from a spiritual perspective. Recent research in organizations has found a relationship between the spirituality of the leaders and the workplace spirituality of the work units.

Christians often expect their churches to be spiritual workplaces where work will bring a sense of deep spiritual well-being and meaning. Pastors are spiritual leaders in their congregations. However, it is unclear if the practices associated with positive …

Tracking Berle’S Footsteps: The Trail Of The Modern Corporation’S Last Chapter, William W. Bratton, Michael L. Wachter

Seattle University Law Review

Readers game enough to work through all three hundred pages of The Modern Corporation and Private Property looking for insights on corporate law today encounter two, apparently contradictory, lines of thought. One line, set out in Books II and III, resonates comfortably with today’s shareholder-centered corporate legal theory. Here the book teaches that even as ownership and control have separated, managers should function as trustees for the shareholders and so should exercise their wide-ranging powers for the shareholders’ benefit. The other line of thought emerges in Books I and IV, where The Modern Corporation encases this shareholder trust model in …