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Call # KF1414 .F68 2010
Title Foundations of corporate law / [edited] by Roberta Romano
Imprint New York, NY : Foundation Press : Thomson Reuters, 2010
Edition 2nd ed
Book Cover
LOCATION CALL NO. STATUS
 WMS STACKS  KF1414 .F68 2010    AVAILABLE
 WMS STACKS  KF1414 .F68 2010 c.2  AVAILABLE

Details

Descript. xv, 766 p. : ill. ; 26 cm
Note Includes bibliographical references
Subject Corporation law -- United States
Corporate governance -- United States
Alt Author Romano, Roberta
OCLC # 655980250
Table of Contents
1Theory of the Firm and Capital Markets1
ATheory of the Firm5
 Theory of the Firm: Managerial Behavior, Agency Costs, and Ownership Structure / William H. Meckling5
 Transaction Cost Economics / Oliver E. Williamson10
 Ownership of the Firm / Henry Hansmann16
 Firms, Constracts, and Financial Structure / Oliver Hart23
 A Political Theory of American Corporate Finance / Mark J. Roe29
 Notes and Questions33
BTheory of Capital Markets40
 A Random Walk Down Wall Street / Burton G. Malkiel40
 Corporate Finance / Jeffrey F. Jaffe52
 Event Studies and the Law: Part I: Technique and Corporate Litigation / Roberta Romano65
 A Random Walk Down Wall Street / Burton G. Malkiel72
 Notes and Questions80
2Legal Characteristics of the Corporation: Limited Liability90
 Limited Liability and the Corporation / Daniel R. Fischel92
 Limited Liability in the Theory of the Firm / Susan E. Woodward99
 Toward Unlimited Shareholder Liability for Corporate Torts / Reinier Kraakman102
 Notes and Questions107
3The Production of Corporation Laws114
AState Competition for Corporate Charters117
 The State Competition Debate in Corporate Law / Roberta Romano117
 Toward an Interest Group Theory of Delaware Corporate Law / Geoffrey P. Miller123
 The Myth of State Competition in Corporate Law / Ehud Kamar126
 Delaware's Competition / Mark J. Roe130
 Uncorporations and the Delaware Strategy / Saul Levmore132
 Notes and Questions139
BThe Structure of Corporation Laws152
 The Corporate Contract / Daniel R. Fischel152
 The Mandatory Structure of Corporate Law / Jeffrey N. Gordon160
 The Mandatory/Enabling Balance in Corporate Law: An Essay on the Judicial Role / John C. Coffee, Jr.167
 What Do Corporate Default Rules and Menus Do? An Empirical Examination / Yair Listokin169
 Notes and Questions174
4Financing the Corporation183
 On Financial Contracting: An Analysis of Bond Covenants / Jerold B. Warner185
 Contractual Resolution of Bondholder---Stockholder Conflicts in Leveraged Buyouts / Annette Poulsen192
 Active Investors, LBOs, and the Privatization of Bankruptcy / Michael C. Jensen194
 The Structure and Governance of Venture Capital Organizations / William A. Sahlman196
 Two Agency---Cost Explanations of Dividends / Frank H. Easterbrook201
 Notes and Questions203
5Internal Governance Structures: Boards of Directors217
ABoards of Directors219
 Corporate Governance / Oliver E. Williamson219
 Empirical Studies of Corporate Law / Roberta Romano226
 The Human Nature of Corporate Boards: Law, Norms, and the Unintended Consequences of Independence and Accountability / Donald C. Langevoort228
 Notes and Questions237
BDirector Liability for Breach of Duty246
 The Shareholder Suit: Litigation Without Foundation? / Roberta Romano246
 The New Look of Shareholder Litigation: Acquisition-Oriented Class Actions / Randall S. Thomas257
 File Early, Then Free Ride: How Delaware Law (Mis) Shapes Shareholder Class Actions / Lawrence J. White270
 The Public and Private Faces of Derivative Lawsuits / Randall S. Thomas277
 Predicting Corporate Governance Risk: Evidence from the Directors' & Officers' Liability Insurance Market / Sean J. Griffith280
 The Missing Monitor in Corporate Governance: The Directors' & Officers' Liability Insurer / Sean J. Griffith292
 Does "Unlawful" Mean "Criminal"?: Reflections on the Disappearing Tort/Crime Distinction in American Law / John C. Coffee, Jr.301
 Corporate Crime Legislation: A Political Economy Analysis / Vikramaditya S. Khanna307
 Notes and Questions315
6Internal Governance Structures: Shareholder Voting and Exercise of Voice329
AShareholder Voting Rights331
 Voting in Corporate Law / Daniel R. Fischel331
 Ties That Bond: Dual Class Common Stock and the Problem of Shareholder Choice / Jeffrey N. Gordon337
 The Case for Increasing Shareholder Power / Lucian Arye Bebchuk341
 Director Primacy and Shareholder Disempowerment / Stephen M. Bainbridge353
 The Mythical Benefits of Shareholder Control / Lynn A. Stout356
 The New Vote Buying: Empty Voting and Hidden (Morphable) Ownership / Bernard Black360
 Notes and Questions364
BExercising Voice: Institutional Investors in Action372
 Less is More: Making Institutional Investor Activism a Valuable Mechanism of Corporate Governance / Roberta Romano372
 Hedge Funds in Corporate Governance and Corporate Control / Edward B. Rock384
 Hedge Fund Activism, Corporate Governance, and Firm Performance / Randall Thomas393
 Fiduciary Duties for Activist Shareholders / Lynn Stout397
 The Promise and Peril of Corporate Governance Indices / Roberta Romano403
 Notes and Questions410
7Internal Governance Structures: Executive Compensation426
 Executive Compensation / Kevin J. Murphy427
 Incentive and Tax Effects of Executive Compensation Plans / Ross L. Watts433
 Pay without Performance: Overview of the Issues / Jesse M. Fried437
 Executive compensation: If There's a Problem, What's the Remedy? The Case for "Compensation Discussion and Analysis" / Jeffrey N. Gordon448
 Pay without Performance and the Managerial Power Hypothesis: A Comment / Bengt Holmstrom457
 "Empowering Shareholders on Executive Compensation" and H.R. 1257, the "Shareholder Vote on Executive Compensation Act," / Steven N. Kaplan464
 Say on Pay Votes and CEO Compensation: Evidence from the UK / David Maber468
 Notes and Questions472
8External Governance Structure: The Market for Corporate Control488
ATheories and Evidence491
 Mergers and the Market for Corporate Control / Henry G. Manne491
 Takeovers: Their Causes and Consequences / Michael C. Jensen492
 Risk Reduction as a Managerial Motive for Conglomerate Mergers / Baruch Lev495
 The Hubris Hypothesis of Corporate Takeovers / Richard Roll496
 The Market for Corporate Control: The Empirical Evidence Since 1980 / Jeffry M. Netter500
 Hostile Takeovers in the 1980s: The Return to Corporate Specialization / Robert W. Vishny503
 New Evidence and Perspectives on Mergers / Erik Stafford505
 Leveraged Buyouts and Private Equity / Per Stromberg515
 Notes and Questions526
BManagement's Fiduciary Duty and Takeover Defenses546
 The Proper Role of a Target's Management in Responding to a Tender Offer / Daniel R. Fischel546
 Seeking Competitive Bids Versus Pure Passivity in Tender Offer Defense / Ronald J. Gilson550
 The Case for Facilitating Competing Tender Offers: A Reply and Extension / Lucian A. Bebchuk553
 The Market for Corporate Control: The Empirical Evidence Since 1980 / Jeffry M. Netter555
 The Wealth Effects of Second-Generation State Takeover Legislation / Paul H. Malatesta560
 The Future of Hostile Takeovers: Legislation and Public Opinion / Roberta Romano566
 Do IPO Charters Maximize Firm Value? Antitakeover Protection in IPOs / Michael Klausner573
 Notes and Questions582
9Securities Regulation600
ADisclosure Regulation603
 Mandatory Disclosure and the Protection of Investors / Daniel R. Fischel603
 Market Failure and the Economic Case for a Mandatory Disclosure System / John C. Coffee, Jr.609
 Measuring the Costs and Benefits of Regulation: Conceptual Issues in Securities Markets / J. Harold Mulherin611
 Mandatory Disclosure as a Solution to Agency Problems / Paul G. Mahoney619
 Securities Fraud as Corporate Governance: Reflections upon Federalism / Hillary A. Sale629
 Notes and Questions636
BInsider Trading Regulation646
 Insider Trading, Rule 10b-5, Disclosure, and Corporate Privacy / Kenneth E. Scott646
 The Regulation of Insider Trading / Daniel R. Fischel650
 Substitutes for Insider Trading / Joe Bankman653
 Notes and Questions661
CWho Should Regulate?668
 Empowering Investors: A Market Approach to Securities Regulation / Roberta Romano668
 The Exchange as Regulator / Paul G. Mahoney678
 Regulating Investors Not Issuers: A Market-Based Proposal / Stephen Choi686
 The SEC, Retail Investors, and the Institutionalization of the Securities Markets / Donald C. Langevoort695
 Notes and Questions700
10Comparative Corporate Law705
 Legal Determinants of External Finance / Robert W. Vishny706
 The Economic Consequences of Legal Origins / Andrei Shleifer713
 A Self-Enforcing Model of Corporate Law / Reinier Kraakman725
 The Legal and Institutional Preconditions for Strong Securities Markets / Bernard S. Black729
 A Theory of Path Dependence in Corporate Governance and Ownership / Mark J. Roe741
 The End of History for Corporate Law / Reinier Kraakman747
 Notes and Questions757