Reconstructing the Corporation: From Shareholder Primacy to Shared Governance

ISBN-13: 9781107138322 / Angielski / Twarda / 2021 / 284 str.

Grant M. Hayden; Matthew T. Bodie

Opis

This book critically examines shareholder primacy and develops a new theory of shared corporate governance that includes employees.

Recenzje

'It is a rare pleasure to encounter genuinely fresh thinking about the purpose and function of the corporation. Critiques of existing models are easy to find. Plausible, workable alternatives are not. Hayden and Bodie draw on economic and democratic theory to stitch together just such an alternative, one in which shareholders, employees - and no other stakeholders - are given the strongest voices in corporate governance. Reconstructing the Corporation is provocative, timely, and excellent.' David H. Webber, Professor and Associate Dean, Boston University Law School, and author of The Rise of the Working-Class Shareholder

Spis treści

Preface; Acknowledgements; 1. Introduction; 2. Preference aggregation in political institutions; 3. Preference aggregation in corporations; 4. The corporation as contract; 5. Shareholder homogeneity; 6. The argument from the residual; 7. The argument from Arrow's theorem; 8. The shareholder franchise and board primacy; 9. A firm-based approach to corporate voting rights; 10. Democratic participation and shared governance; 11. The German codetermination experience; 12. Conclusion; Notes; Index.