Corporate Law And The Theory Of The Firm

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Corporate Law and the Theory of the Firm

Wm. Dennis Huber
Corporate Law and the Theory of the Firm Book PDF

Author : Wm. Dennis Huber
Publisher : Routledge
Page : 188 pages
File Size : 46,9 Mb
Release : 2020-04-08
Category : Business & Economics
ISBN : 9781000061840

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Corporate Law and the Theory of the Firm by Wm. Dennis Huber Pdf

Dozens of judicial opinions have held that shareholders own corporations, that directors are agents of shareholders, and even that directors are trustees of shareholders’ property. Yet, until now, it has never been proven. These doctrines rest on unsubstantiated assumptions. In this book the author performs a rigorous, systematic analysis of common law, contract law, property law, agency law, partnership law, trust law, and corporate statutory law using judicial rulings that prove shareholders do not own corporations, that there is no separation of ownership and control, directors are not agents of shareholders, and shareholders are not investors in corporations. Furthermore, the author proves the theory of the firm, which is founded on the separation of ownership and control and directors as agents of shareholders, promotes an agenda that wilfully ignores fundamental property law and agency law. However, since shareholders do not own the corporation, and directors are not agents of shareholders, the theory of the firm collapses. The book corrects decades of confusion and misguided research in corporate law and the economic theory of the firm and will allow readers to understand how property law, agency law, and economics contradict each other when applied to corporate law. It will appeal to researchers and upper-level and graduate students in economics, finance, accounting, law, and sociology, as well as attorneys and accountants.

Organising the Firm

Petri Mäntysaari
Organising the Firm Book PDF

Author : Petri Mäntysaari
Publisher : Springer Science & Business Media
Page : 169 pages
File Size : 41,6 Mb
Release : 2011-09-18
Category : Law
ISBN : 9783642221972

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Organising the Firm by Petri Mäntysaari Pdf

The theoretical basis of commercial law, corporate governance law, and corporate law is still unsatisfactory. There essentially is no theory of commercial law, and existing theories of corporate governance and corporate law cannot explain the behaviour of firms or the contents of existing regulation. This book proposes a coordinated solution for all three areas. The starting point is that all three areas deal with the organisation of firms. Commercial law, corporate governance, and corporate law are therefore studied from the perspective of the firm rather than that of the judge or the investor. Changing the perspective makes it easier to formulate an "umbrella" theory of commercial law, and theories of corporate governance and corporate law as applications of the main theory. The book provides examples of how the proposed theories work by studying legal corporate governance tools and practices that increase the sustainability of the firm. Sustainability can be bolstered by making the governance model more self-enforcing and ensuring that it fosters innovation.

Economics, Capitalism, and Corporations

Wm. Dennis Huber
Economics Capitalism and Corporations Book PDF

Author : Wm. Dennis Huber
Publisher : Routledge
Page : 206 pages
File Size : 41,9 Mb
Release : 2020-12-11
Category : Business & Economics
ISBN : 9781000291216

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Economics, Capitalism, and Corporations by Wm. Dennis Huber Pdf

This book is a continuation of Corporate Law and the Theory of the Firm: Reconstructing Corporations, Shareholders, Directors, Owners, and Investors. The author extends his analysis of contract law, property law, agency law, trust law, and corporate statutory law and applies that analysis to defy conventional concepts and theories in economics, finance, investment, and accounting and expose the artificial boundaries established by decades of research founded on indefensible assumptions and fallacious conclusions. Using the Humpty Dumpty principle, where words mean what the authors want them to mean, economists have created "strange new worlds" where contract law, property law, agency law, and corporate statutory law no longer apply. The author dismantles the theory of the firm by proving the theory of the firm wilfully and intentionally ignores fundamental contract law, property law, agency law, and corporate statutory law. Contrary to the theory of the firm, shareholders do not own corporations, directors are not agents of shareholders, and shareholders are not investors in corporations. The author proves that by property law and corporate law, capital is not privately owned by capitalists but by corporations. Entire economic and social systems have been constructed that have no basis in law. With the advent of publicly traded corporations, the capital is there, but both capitalists and capitalism have been rendered extinct. This book will appeal to researchers and graduate and upper-level undergraduate students in economics, finance, accounting, law, and sociology, as well as legal scholars, attorneys and accountants.

Business Persons

Eric W. Orts
Business Persons Book PDF

Author : Eric W. Orts
Publisher : Oxford University Press
Page : 327 pages
File Size : 42,9 Mb
Release : 2013-08-29
Category : Business & Economics
ISBN : 9780199670918

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Business Persons by Eric W. Orts Pdf

This book provides a scholarly and yet accessible introduction to the legal framework of modern business enterprises. It explains the legal ideas that allow for the recognition of firms as organizational "persons" having social rights and responsibilities, and how law sets the boundaries of firms.

Company Law

Eva Micheler
Company Law Book PDF

Author : Eva Micheler
Publisher : Oxford University Press
Page : 321 pages
File Size : 41,9 Mb
Release : 2021
Category : Law
ISBN : 9780198858874

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Company Law by Eva Micheler Pdf

This book advances a real entity theory of company law, in which the company is a legal entity which acts autonomously in law, and company law establishes procedures facilitating autonomous organisational decision-making. The theory builds on the insight that organisations or firms are a social phenomenon outside of the law and that these are autonomous actors in their own right. They are more than the sum of the contributions of their participants and they act independently of the views and interests of their participants. This occurs because human beings change their behaviour when they act as members of a group or an organisation; in a group we tend to develop and conform to a shared standard, and when we act in organisations habits, routines, processes, and procedures form and a culture emerges. These take on a life of their own affecting the behaviour of the participants. Participants can affect organisational behaviour but this takes time and effort. Company law finds this phenomenon and supplies it with a structure supporting autonomous action by organisations. The real entity theory advanced in this book explains company law as it stands at a positive level. Legal personality overcomes the problems that organisations are social rather than brute facts and that there is no unique physical manifestation permanently associated with an organisation. The corporate constitution is not a contract - it is best characterised as an instrument adopted on a statutory basis through private action. Shareholders cannot limit the capacity of companies or the authority of the board to bind the company in contract and companies are liable in tort and crime. The statute creates roles for shareholders, directors, a company secretary, and auditors and so facilitates a process leading to organisational action. The law also integrates the interests of creditors and stakeholders.

Economics, Capitalism, and Corporations

Wm. Dennis Huber
Economics Capitalism and Corporations Book PDF

Author : Wm. Dennis Huber
Publisher : Routledge
Page : 326 pages
File Size : 48,8 Mb
Release : 2020-12-11
Category : Business & Economics
ISBN : 9781000291278

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Economics, Capitalism, and Corporations by Wm. Dennis Huber Pdf

This book is a continuation of Corporate Law and the Theory of the Firm: Reconstructing Corporations, Shareholders, Directors, Owners, and Investors. The author extends his analysis of contract law, property law, agency law, trust law, and corporate statutory law and applies that analysis to defy conventional concepts and theories in economics, finance, investment, and accounting and expose the artificial boundaries established by decades of research founded on indefensible assumptions and fallacious conclusions. Using the Humpty Dumpty principle, where words mean what the authors want them to mean, economists have created "strange new worlds" where contract law, property law, agency law, and corporate statutory law no longer apply. The author dismantles the theory of the firm by proving the theory of the firm wilfully and intentionally ignores fundamental contract law, property law, agency law, and corporate statutory law. Contrary to the theory of the firm, shareholders do not own corporations, directors are not agents of shareholders, and shareholders are not investors in corporations. The author proves that by property law and corporate law, capital is not privately owned by capitalists but by corporations. Entire economic and social systems have been constructed that have no basis in law. With the advent of publicly traded corporations, the capital is there, but both capitalists and capitalism have been rendered extinct. This book will appeal to researchers and graduate and upper-level undergraduate students in economics, finance, accounting, law, and sociology, as well as legal scholars, attorneys and accountants.

The Form of the Firm

Abraham A. Singer
The Form of the Firm Book PDF

Author : Abraham A. Singer
Publisher : Oxford University Press, USA
Page : 313 pages
File Size : 43,9 Mb
Release : 2019
Category : Business & Economics
ISBN : 9780190698348

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The Form of the Firm by Abraham A. Singer Pdf

The Form of the Firm attempts to unveil the nature of the corporation as it exists in modern liberal societies. The author contends that economic theories understate the importance and danger of corporate power, and should be supplemented with a political analysis that foregrounds the sorts of political and moral values at stake in corporate activity.

The Theory of the Firm

Daniel F. Spulber
The Theory of the Firm Book PDF

Author : Daniel F. Spulber
Publisher : Cambridge University Press
Page : 542 pages
File Size : 44,6 Mb
Release : 2009-04-13
Category : Business & Economics
ISBN : 9780521517386

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The Theory of the Firm by Daniel F. Spulber Pdf

The Theory of the Firm presents an innovative general analysis of the economics of the firm.

Corporate Governance, The Firm and Investor Capitalism

Alexander Styhre
Corporate Governance The Firm and Investor Capitalism Book PDF

Author : Alexander Styhre
Publisher : Edward Elgar Publishing
Page : 296 pages
File Size : 44,9 Mb
Release : 2016-10-28
Category : Business & Economics
ISBN : 9781785364020

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Corporate Governance, The Firm and Investor Capitalism by Alexander Styhre Pdf

The shift from managerial capitalism to investor capitalism, dominated by the finance industry and finance capital accumulation, is jointly caused by a variety of institutional, legal, political, and ideological changes, beginning with the 1970s’ downturn of the global economy. This book traces how the incorporation of businesses within the realm of the state leads to both certain benefits, characteristic of competitive capitalism, and to the emergence of new corporate governance problems emerges. Contrasting economic, legal, and managerial views of corporate governance practices in contemporary capitalism, the author examines how corporate governance has been understood and advocated differently during the New Deal era, the post-World War II economic boom, and the after 1980 in the era of free market advocacy.

Corporate Law

Stephen M. Bainbridge
Corporate Law Book PDF

Author : Stephen M. Bainbridge
Publisher : Unknown
Page : 532 pages
File Size : 46,8 Mb
Release : 2009
Category : Corporation law
ISBN : STANFORD:36105134406060

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Corporate Law by Stephen M. Bainbridge Pdf

Corporations classes present students with two related problems: First, many students have trouble understanding the cases studied because they do not understand the transactions giving rise to those cases. Second, Corporations classes at many law schools are taught from a law and economics perspective, which many students find unfamiliar and/or daunting. Yet, with few exceptions, corporate law treatises and other study aids have essentially ignored the law and economics revolution. This book is intended to remedy these difficulties. The pedagogy is up-to - date, with a strong emphasis on the doctrinal issues taught in today's Corporations classes and, equally important, a mainstream economic analysis of the major issues in the course. As such, the text is coherent and cohesive: It provides students not only with an overview of the course, but also (and more importantly) with a unifying method of thinking about the course. Using a few basic tools of law and economics-price theory, game theory, and the theory of the firm literature-students will come to see corporate law as the proverbial "seamless web." Finally, the text is highly readable: The style is simple, direct, and reader- friendly. Even when dealing with complicated economic or financial issues, the text seeks to make those issues readily accessible.

The Institutional Theory of the Firm

Alexander Styhre
The Institutional Theory of the Firm Book PDF

Author : Alexander Styhre
Publisher : Routledge
Page : 313 pages
File Size : 44,6 Mb
Release : 2019-07-25
Category : Business & Economics
ISBN : 9780429632280

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The Institutional Theory of the Firm by Alexander Styhre Pdf

The Institutional Theory of the Firm examines recent and previous organization theory literature to advocate what Evans (1995) refers to as the "embedded autonomy" of the firm, as well as its role in being simultaneously anchored in, for example, corporate legislation and regulatory practices on the national, regional (i.e., within the European Union) and transnational levels, while at the same time being granted the right to operate with significant degrees of freedom within this legal-regulatory model. Seen in this view, the embedded autonomy of the corporation represents a theoretical view of the corporation that complements the market-based image of the corporation in economic theory. When advocating the institutional theory model, three forms of embedded autonomy are examined. First, the corporation is enacted as a legal entity sui juris—as a freestanding "legal person" in corporate law and within the regulatory framework that serves to enforce legislation in everyday life settings. Second, the corporation is embedded within what social theorists refer to as moral economies, the norms and values that regulate what are the socially acceptable and legitimate means for conducting business. Third and finally, the corporation is embedded in governance, a relatively complex economic concept that denotes legal and regulatory control on the societal and economic system levels, and on the level of the individual corporation. By combining the three forms of embeddedness, sanctioned by law, norms, and governance, the embedded autonomy of the firm is secured on the basis of a variety of social practices and resources. This book brings together a diverse literature including management studies, economic sociology, legal theory, finance theory, and mainstream economic theory to advance the argument that the corporation is best understood as what is embedded in a social and economic context, yet best serving its defined and stipulated ends by assuming considerable degrees of freedom to operate in isolation from various stakeholders. It will be of relevance for a variety of readers, including graduate students, management scholars, policy-makers, and management consultants interested in organization theory and management studies.

The Economic Structure of Corporate Law

Frank H. Easterbrook,Daniel R. Fischel
The Economic Structure of Corporate Law Book PDF

Author : Frank H. Easterbrook,Daniel R. Fischel
Publisher : Harvard University Press
Page : 386 pages
File Size : 42,5 Mb
Release : 1996
Category : Business & Economics
ISBN : 0674235398

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The Economic Structure of Corporate Law by Frank H. Easterbrook,Daniel R. Fischel Pdf

This text argues that the rules and practices of corporate law mimic contractual provisions that parties involved in corporate enterprise would reach if they always bargained at zero cost and flawlessly enforced their agreements. It states that corporate l

The Form of the Firm

Abraham A. Singer
The Form of the Firm Book PDF

Author : Abraham A. Singer
Publisher : Oxford University Press
Page : 288 pages
File Size : 46,5 Mb
Release : 2018-10-25
Category : Political Science
ISBN : 9780190698362

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The Form of the Firm by Abraham A. Singer Pdf

What are we to make of the power that corporations wield over people in modern society? Is such power legitimate? Many think so. To many businessmen and economists, as well as the general public, firms are purely private and economic entities, justified in using all legal means to maximize profit. In The Form of the Firm, Abraham Singer contends that such a view rests on a theoretical foundation that, while quite subtle, is deeply flawed. Contrary to the conventional wisdom, corporations are not natural outgrowths of the free market. Instead, Singer invites us to see corporations as political institutions that correct market inefficiencies through mechanisms normally associated with government -hierarchy, power, and state-sanctioned authority. Corporations exist primarily to increase economic efficiency, but they do this in ways that distinguish them from the markets in which they operate. Corporations serve economic ends, but through political means. Because of this, Singer argues that they also must be structured and obliged to uphold the social and political values that enable their existence and smooth-running in the first place: individual autonomy, moral and social equality, and democratic norms and institutions. A profound and timely rethinking of what a corporation actually is and how power within it ought to be structured and exercised, The Form of the Firm will reshape our understanding of political theory, corporate governance, corporate law, and business ethics.

Corporate Law

William W. Bratton
Corporate Law Book PDF

Author : William W. Bratton
Publisher : Ashgate Publishing
Page : 0 pages
File Size : 45,6 Mb
Release : 2000
Category : Corporation law
ISBN : 0754620867

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Corporate Law by William W. Bratton Pdf

The essays in this collection critically examine the principal themes and issues shaping contemporary writing on corporate law, and the law and economics of the firm. These include: contractarian theory; the institutional shareholder movement; path-dependent institutional evolution; comparative corporate governance; and team production. In particular, the essays demonstrate how American corporate legal theory embraces and then abandons a market efficiency account of corporate governance, turning outwards and searching worldwide for more effective legal and organizational strategies.

Foundations of Corporate Law

Roberta Romano
Foundations of Corporate Law Book PDF

Author : Roberta Romano
Publisher : Oxford University Press, USA
Page : 364 pages
File Size : 42,9 Mb
Release : 1993
Category : Corporate governance
ISBN : STANFORD:36105061117011

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Foundations of Corporate Law by Roberta Romano Pdf

This collection of readings attempts to introduce the student of corporate law to the intellectual background and economic concepts which inform contemporary corporate law. The readings are introduced by the author and accompanied by extensive notes and questions.