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Publisher Description

Abstract: In his essay, Toward Common Sense and Common Ground?, Delaware Chancery Court Vice Chancellor Leo Strine seeks to identify common concerns of corporate management, labor, and shareholders. In so doing, Vice Chancellor Strine endorses a vision of the corporation as "a social institution that, albeit having the ultimate goal of producing profits for stockholders, also durably serves and exemplifies other societal values." Accordingly, he directs our attention to the prospects of creating "a corporate governance structure that better fosters [the corporation's stakeholders'] mutual interest in sustainable economic growth." There is much that is admirable in Vice Chancellor Strine's analysis of what ails corporate governance and his proposals for reform, as well as much that is debatable. In this brief Comment, I identify three aspects of Vice Chancellor Strine's analysis that strike me as underdeveloped. First, what do we mean when we call the corporation "a social institution"? Second, do managers and laborers really have common interests threatened by shareholders? Finally, even if Vice Chancellor Strine's search for common ground is a worthwhile project, is corporate law and governance the appropriate arena in which to find it? Taken together, these issues raise serious questions about the viability of Vice Chancellor Strine's project.

GENRE
Business & Personal Finance
RELEASED
2007
September 22
LANGUAGE
EN
English
LENGTH
18
Pages
PUBLISHER
University of Iowa Journal of Corporation Law
SELLER
The Gale Group, Inc., a Delaware corporation and an affiliate of Cengage Learning, Inc.
SIZE
284.7
KB

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