Social Sciences
8 years ago

Delaware Corporate Law Shift: Shareholders Lose Power, Directors Gain Accountability.

SSRN Electronic Journal
Unsettledness in Delaware Corporate Law: Business Judgment Rule, Corporate Purpose
Lyman Johnson

Paper Summary

The article discusses two key issues in corporate law: the business judgment rule and corporate purpose. It suggests that fiduciary duties should be emphasized over the business judgment rule, and advocates for a pluralistic approach to corporate purpose in Delaware law. The goal is to provide clarity and flexibility in corporate decision-making.

Related papers

Economics, Econometrics and Finance
4 years ago

Contractarian theory of corporate law debunked after 20 years of research.

Economic Analysis
Bankruptcy Law
Corporate Governance
Business, Management and Accounting
4 years ago

Shareholder primacy reigns: Corporate governance shifts towards profit maximization.

Corporate Rights
2 views
Business, Management and Accounting
5 years ago

Corporate law redefined: corporations as persons with purpose, benefiting stakeholders.

Bankruptcy Law
Corrective Justice