Category Archives: Business Organisation
Peter Watts, ‘Some Aspects of the Intersection of the Law of Agency with the Law of Trusts’
ABSTRACT This paper considers a number of aspects of the intersection of the law of agency with the law of trusts. It is possible for trusts to operate without recourse to the principles of agency law, and similarly agents can operate without recourse to the law of trusts. But in many situations the two bodies […]
McGrath and Scholten, ‘Individual accountability: holy grail or poisoned chalice?’
ABSTRACT New legal regimes in various jurisdictions have increased the accountability of senior individuals in financial services to attempt to prevent wrongdoing. This article critically evaluates these efforts using insights from the behavioural sciences research on accountability, the regulatory theory on enforcement, and the criminological literature on compliance. This inquiry is pursued through an analysis […]
Bennison, Chapple and Sadiq, ‘From Corporation to Cooperation: A Meaningful Model for Corporate Purpose’
ABSTRACT In 2015, the United Nations adopted Sustainable Development Goals (‘SDGs’) with a full implementation target of 2030. The breadth and depth of the 17 Goals are significant, including ending poverty, offering quality education, affordable and clean energy, and responsible consumption and production, to name a few. Overlapping with the SDGs is the Planetary Boundary […]
Gold and Smith, ‘The Equity in Corporate Law’
ABSTRACT It is no secret that equity is a central part of corporate law. Yet, a fuller appreciation of what equity means for corporate law is still lacking. This article offers a new account of corporate law’s equity, showing that it is a kind of meta-law – or law about law – which operates ex […]
‘Civil Rights meets Corporate Governance’
Gina-Gail S Fletcher and H Timothy Lovelace, Jr, ‘Corporate Racial Responsibility’, 124 Columbia Law Review 361 (2023). Are corporations responsible for addressing racial inequality? In a timely and compelling examination of corporate race relations during the civil rights movement and current corporate processes and decision-making on race, Gina-Gail S Fletcher and H Timothy Lovelace, Jr […]
Rustam Mirrakhimov, ‘On the effectiveness of the civil regime’s penalty-setting framework against insider dealing in the UK’
ABSTRACT This paper carries out a first-of-its-kind evaluation of the effectiveness of insider dealing policy in the UK focusing on the civil regime’s penalty-setting framework against individuals. Under the assumption that there is a risk of underestimating illegal benefits from insider dealing for the purposes of a penalty determination, and due to the ambiguous punitive […]
Dionysia Katelouzou, ‘The Unseen “Others”: A Framework for Investor Stewardship’
ABSTRACT Institutional investors, as stewards, exercise power on behalf of their clients/beneficiaries, and in doing so, regard a broader spectrum of ‘unseen’ others – end investors, investable assets, and the broader economy, environment, and society. This analytical framework reveals a crucial distinction: the interests of these unseen others may not align with those of the […]
Anat Alon-Beck, ‘Delaware Beware’
ABSTRACT This article conducts an in-depth exploration of the dynamic competition among states to attract businesses and determine the legal framework governing corporations. It adopts an innovative market-centric viewpoint, treating corporate law as a product within the broader context of charter competition among US states. While the scholarly spotlight has predominantly shone on publicly traded […]
Jennifer Hill, ‘Hidden Fallacies in the Agency Theory of the Corporation’
ABSTRACT The agency or ‘nexus of contracts’ model of the firm has been the dominant corporate theory for more than four decades. The classical agency theory of the firm treats the corporation as a fictitious – and purely financial – vehicle, devoid of social connection or responsibilities. The theory also adopts a single-minded focus on […]
‘In Which Elon Musk Once Again Becomes a Classroom Hypothetical’
This time, it’s Brazil. If you’re not following the saga, the story is apparently that ex-Twitter, now controlled by Elon Musk (not the CEO, though; you can’t even really say he’s the owner without qualifying about the interests of other investors and – don’t forget – the debtholders), ignored the order of Brazilian Supreme Court […]