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This brief essay responds to Yair Listokin's article, "Paying for Performance in Bankruptcy: Why CEOs Should Be Compensated with Debt," 155 U. PA. L. REV. 777 (2007). Professor Listokin argues that we should give official creditors' committees the power to pay management of reorganizing debtors...
Persistent link: https://www.econbiz.de/10014050507
One of the most significant recent phenomena in corporate governance is the embrace, by some of the most influential actors in the corporate community, of the view that corporations should be focused on furthering the interests of all corporate stakeholders as well as the broader society. This...
Persistent link: https://www.econbiz.de/10014081120
To promote fair and sustainable capitalism and help business and labor work together to build an American economy that works for all, this paper presents a comprehensive proposal to reform the American corporate governance system by aligning the incentives of those who control large U.S....
Persistent link: https://www.econbiz.de/10014103903
While other countries dismantled their segmented housing finance systems and linked housing finance to capital markets through deregulated depositories, the US linked housing finance to capital markets through depository deregulation and securitization. Elsewhere securitization has not...
Persistent link: https://www.econbiz.de/10013039288
In view of the decline in gain sharing by corporations with American workers over the last forty years, advocates for American workers have expressed growing interest in allowing workers to elect representatives to corporate boards. Board level representation rights have gained appeal because...
Persistent link: https://www.econbiz.de/10013236035
ESG is one of the most notable trends in corporate governance, management, and investment of the past two decades. It is at the center of the largest and most contentious debates in contemporary corporate and securities law. Yet few observers know where the term comes from, who coined it, and...
Persistent link: https://www.econbiz.de/10013491706
In this paper, we examine the effect of country-level political relationships on SEC oversight of US-listed foreign firms, ranging from routine review of issuer filings to enforcement actions. We find that the political relationship between a foreign firm’s home country and the US is an...
Persistent link: https://www.econbiz.de/10013491851
The present period of financial instability is also likely to become known as the end of an era, an era of economic calm and of policy consensus on how to maintain market stability. After World War II, the federal government operated on the Keynesian principles that the right mix of spending,...
Persistent link: https://www.econbiz.de/10013116824
The announcement by the Reserve Primary Fund, in September 2008, that it was “breaking the buck,” triggered a widespread withdrawal of assets from other money market funds and led the U.S. Government to adopt emergency measures to maintain the stability of the short term credit markets. In...
Persistent link: https://www.econbiz.de/10013120737
Many look toward enactment of the law reform agenda held out by proponents of shareholder empowerment as a part of the regulatory response to the financial crisis. This Article argues that the financial crisis exposes major weaknesses in the shareholder case. Our claim is that shareholder...
Persistent link: https://www.econbiz.de/10013150783