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When used in conjunction with corporations, the term "public" is misleading. Anyone can purchase shares of stock, but public corporations themselves are uninhibited by a sense of societal obligation or strict public oversight. In fact, managers of most large firms are prohibited by law from taking into account the interests of the public in decision making, if doing so hurts shareholders. But this has not always been the case, as until the beginning of the twentieth century, public corporations were deemed to have important civic responsibilities.With The Failure of Corporate Law, Kent Greenfield hopes to return corporate law to a system in which the public has a greater say in how firms are governed. Greenfield maintains that the laws controlling firms should be much more protective of the public interest and of the corporation’s various stakeholders, such as employees. Only when the law of corporations is evaluated as a branch of public law—as with constitutional law or environmental law—will it be clear what types of changes can be made in corporate governance to improve the common good. Greenfield proposes changes in corporate governance that would enable corporations to meet the progressive goal of creating wealth for society as a whole rather than merely for shareholders and executives.
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1
Failure of Corporate Law: Fundamental Flaws and Progressive Possibilities
2011, ReadHowYouWant.com, Limited
in English
1459606167 9781459606166
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2
Failure of Corporate Law: Fundamental Flaws and Progressive Possibilities
2010, University of Chicago Press
in English
128195697X 9781281956972
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3
Failure of Corporate Law: Fundamental Flaws and Progressive Possibilities
2010, University of Chicago Press
in English
0226306941 9780226306940
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4
The Failure of Corporate Law
2008, University of Chicago Press
Electronic resource
in English
0226306984 9780226306988
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The Failure of Corporate Law: Fundamental Flaws and Progressive Possibilities
February 1, 2007, University Of Chicago Press
Hardcover
in English
0226306933 9780226306933
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6
The failure of corporate law: fundamental flaws and progressive possibilities
2006, University of Chicago Press
in English
0226306933 9780226306933
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