Showing archive for: “Corporate Governance”
Ribstein on Unincorporated Firms
Motivated by a slate of forthcoming articles, books, and various projects involving unincorporated firms, Professor Ribstein has announced his plans to begin blogging more extensively about partnership, LLCs and agency issues over at Ideoblog. This is good news to anybody interested in issues of business law and finance more generally. Two early installments in this ... Ribstein on Unincorporated Firms
Was Einstein an idiot?
Well, obviously, not, of course, but he sure sounds like a thoughtless hack once in a while. In a cafeteria near my office on the Microsoft campus, there is a sign near the door. It’s a testament to something or other that I have no recollection at all what the sign is actually about. But ... Was Einstein an idiot?
Corporate Governance Indices and Shareholder Value
Much discussion of corporate governance in the last few years has centered on reforms advocated by ISS and CII and indices of good corporate governance practice created and maintained by such groups. A new study by Roberta Romano, Sanjai Baghat, and Brian J. Bolton, however, concludes that there is “no consistent relation between governance indices ... Corporate Governance Indices and Shareholder Value
Most Cited Antitrust Law Professors
Dave Hoffman aptly describes the contours of a lot of the blog debate over Brian Leiter’s citation rankings of law professors by specialty: Objection: “But you didn’t measure X…” Leiter: “True. Let a hundred flowers bloom, and do your own data collection!” I’ve got to say, I’m not sure that I really understand any of ... Most Cited Antitrust Law Professors
The Speculation Economy (penned by GW Professor Larry Mitchell)
George Washington University Law School Professor Larry Mitchell’s new book, The Speculation Economy, is a worthwhile read, and anyone with an interest in corporate law, securities regulation, stock market evolution, the rise of big business, legal history, antitrust, and other related topics should consider putting the book on his or her holiday wish-list. More specifically, The ... The Speculation Economy (penned by GW Professor Larry Mitchell)
Scrapping the Notion of Fiduciary Duties Owed to Shareholders
U of Chicago Law Professors Douglas Baird and M. Todd Henderson (my very smart, very tall law school classmate) recently posted a provocative paper on SSRN. The paper, Other People’s Money, contends that “the oft-repeated maxim that directors of a corporation owe a fiduciary duty to the shareholders” is an “almost-right principle that has distorted ... Scrapping the Notion of Fiduciary Duties Owed to Shareholders
United/Delta
Yet another major airline merger appears to be in the works: United and Delta. This calls for some antitrust analysis. A few months ago, Thom did a thorough job analyzing the antitrust aspects of AirTran’s proposed takeover of Midwest. The key point in Thom’s analysis was that assessment of an airline merger’s economic effects properly ... United/Delta
Over at The Conglomerate …
The Glom book club takes a look at Frank Partnoy’s “FIASCO” ten years later here and here.
The Truth About Reverse Mergers
For those interested in small company finance, I’ve recently posted on SSRN a draft of the short piece I’ve written for the Entrepreneurial Business Law Journal symposium issue. The piece is entitled “The Truth About Reverse Mergers” and can be downloaded here. Here’s the abstract: The Article examines the reverse merger method of going public. ... The Truth About Reverse Mergers
Proxy Access: Back to the Drawing Board
Per Securities Law Daily: Under pressure from congressional leaders, institutional investors and business groups, Securities and Exchange Commission Chairman Christopher Cox Nov. 1 said he thinks the SEC “should go back to the drawing board” in early 2008 on the controversial “proxy access” issue. “I agree that we should go back to the drawing board ... Proxy Access: Back to the Drawing Board
Are Chimps Smarter than Humans?
I’ve previously hypothesized that the persistence of legal rules that lead to less overall wealth but seemingly more equitable distributions (rules such as the insider trading ban and Regulation FD) may stem from the fact that individuals are “hard-wired” to favor fairness, even if they must sacrifice some wealth to achieve it. That seems to ... Are Chimps Smarter than Humans?
Radiohead revisited
I started writing this as a comment to Josh’s last post, but it got so long I figured I’d make a post out of it. Thanks for the inspiraiton, Josh. I really hope Radiohead releases the data on its little experiment! My prediction: They will receive an average price of $2 and a median price ... Radiohead revisited
