We evaluate stakeholderism in the context of one constituency—workers—by exploring a few key known contributors to workers’ economic disadvantage: concentration and monopsony in labor markets, weak collective action protections for workers, a declining minimum wage, and the harsh reality...

Takeover regulation should neither hamper nor promote takeovers, but instead allow individual companies to decide the contestability of their control. Based on this premise, we advocate a takeover law exclusively made of default and menu rules supporting an effective choice of the takeover...

The Securities and Exchange Commission (SEC) is currently considering a rulemaking petition requesting that the Commission shorten the ten-day window, established by Section 13(d) of the Williams Act, within which investors must publicly disclose purchases of a five percent or greater stake in...

The motivation for this paper arose from BlackRock, the biggest investor in the world, wanting, “A new model for corporate governance” and that “companies must benefit all their stakeholders”. The idea of firms delivering value to all stakeholders was reinforced in 2019 by 180 other CEOs...

Is coronavirus accelerating the future? Will the crisis provide a tipping point that encourages corporations to promote socially desirable values? Will there be a wider recognition that a sole focus on profits and investors hurts both companies and society? Or, will we simply return to...

This paper critiques an assessment by Bebchuk and Tallarita (BT) of the relative merits of shareholder and stakeholder governance. BT's paper argues that stakeholder governance is either nothing more than enlightened shareholder value, or it imposes unmanageable tradeoffs on directors of...

The animated discourse on corporate social responsibility towards stakeholders in the last two years, particularly as embodied through the terms ESG, corporate purpose and stakeholderism (which will be used in this article interchangeably) had reached a turning point even before the COVID-19...

To address growing concerns about the negative effects of corporations on their stakeholders, supporters of stakeholder governance (“stakeholderism”) advocate a governance model that encourages and relies on corporate leaders to serve the interests of stakeholders and not only those of...

Over the past two decades, hedge fund activism has emerged as a new mechanism of corporate governance that brings about operational, financial and governance reforms to a corporation. Many prominent business executives and legal scholars are convinced that the entire American economy will suffer...

Engaged investors are an increasing source of influence among U.S. publicly-traded companies, using their influence to reshape the competitive landscape across industries. Also known as activists, these investors typically acquire a minority stake in a target company and present recommendations...