Journal of Corporate Law Studies最新文献

{"title":"Separate legal personality – an explanation and a defence","authors":"Eva Micheler","doi":"10.1080/14735970.2024.2365170","DOIUrl":"https://doi.org/10.1080/14735970.2024.2365170","url":null,"abstract":"The article proposes a modern version of real entity theory to explain the principle of the separate legal personality of the company. This theoretical model relies on scholarship from the wider so...","PeriodicalId":44517,"journal":{"name":"Journal of Corporate Law Studies","volume":"16 1","pages":""},"PeriodicalIF":1.1,"publicationDate":"2024-07-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141771023","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Directors’ positive duty to act in the interests of the entity: shareholders’ interests bounded by corporate purpose","authors":"Susan Watson, Lynn Buckley","doi":"10.1080/14735970.2024.2361507","DOIUrl":"https://doi.org/10.1080/14735970.2024.2361507","url":null,"abstract":"Directors’ duty to act in good faith and to act in the best interests of the company relates to the interests of shareholders held in the company as a separate legal entity. The obligation to act i...","PeriodicalId":44517,"journal":{"name":"Journal of Corporate Law Studies","volume":"21 1","pages":""},"PeriodicalIF":1.1,"publicationDate":"2024-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141587464","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Private credit: a renaissance in corporate finance","authors":"Narine Lalafaryan","doi":"10.1080/14735970.2024.2351230","DOIUrl":"https://doi.org/10.1080/14735970.2024.2351230","url":null,"abstract":"The thesis of this paper is that the role of debt and its relationship with equity in the firm, due to recent significant developments in the corporate finance markets after the global financial cr...","PeriodicalId":44517,"journal":{"name":"Journal of Corporate Law Studies","volume":"4 1","pages":""},"PeriodicalIF":1.1,"publicationDate":"2024-06-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141506262","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"ESG and director’s duties: defining and advancing the interests of the company","authors":"Luh Luh Lan, Walter Wan","doi":"10.1080/14735970.2024.2334966","DOIUrl":"https://doi.org/10.1080/14735970.2024.2334966","url":null,"abstract":"It is difficult to advance the ESG agenda using company law, especially in common law legal systems. Cases show that directors’ duties require directors to prioritise the ‘interests of the company’...","PeriodicalId":44517,"journal":{"name":"Journal of Corporate Law Studies","volume":"37 1","pages":""},"PeriodicalIF":1.1,"publicationDate":"2024-04-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140601060","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Toward a theory of plural business purposes","authors":"Eric W. Orts","doi":"10.1080/14735970.2024.2309736","DOIUrl":"https://doi.org/10.1080/14735970.2024.2309736","url":null,"abstract":"This article examines the current debate advocating ‘business purpose' as an alternative to the common view that business should focus only on profit maximisation. A legal analysis reveals that ‘bu...","PeriodicalId":44517,"journal":{"name":"Journal of Corporate Law Studies","volume":"22 1","pages":""},"PeriodicalIF":1.1,"publicationDate":"2024-03-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140045995","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Corporate sustainability reporting: double materiality, impacts, and legal risk","authors":"Félix E. Mezzanotte","doi":"10.1080/14735970.2024.2319058","DOIUrl":"https://doi.org/10.1080/14735970.2024.2319058","url":null,"abstract":"Following the enactment of the Corporate Sustainability Reporting Directive and the creation of the European Sustainability Reporting Standards (ESRS rules), the European Union has set a new regime...","PeriodicalId":44517,"journal":{"name":"Journal of Corporate Law Studies","volume":"18 1","pages":""},"PeriodicalIF":1.1,"publicationDate":"2024-02-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139979283","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The legal construction of management: a neo-realist framing and genealogical case study","authors":"Simon Deakin","doi":"10.1080/14735970.2024.2309739","DOIUrl":"https://doi.org/10.1080/14735970.2024.2309739","url":null,"abstract":"The practice of corporate management is not wholly prior to the legal interventions which have sought to shape it since the first emergence of modern industry. A genealogical case study of mine saf...","PeriodicalId":44517,"journal":{"name":"Journal of Corporate Law Studies","volume":"16 1","pages":""},"PeriodicalIF":1.1,"publicationDate":"2024-02-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139760568","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Corporate Culture and Systems Intentionality: part of the regulator’s essential toolkit","authors":"Elise Bant, Rebecca Faugno","doi":"10.1080/14735970.2023.2292837","DOIUrl":"https://doi.org/10.1080/14735970.2023.2292837","url":null,"abstract":"The recent Law Commission of England and Wales review of corporate criminal liability has presented a range of options to the Government to address current deficiencies in the law of corporate attr...","PeriodicalId":44517,"journal":{"name":"Journal of Corporate Law Studies","volume":"34 1","pages":""},"PeriodicalIF":1.1,"publicationDate":"2024-01-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139515898","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"An institutional analysis of UK ostensible minority shareholder protection mechanisms","authors":"Jonathan Hardman","doi":"10.1080/14735970.2023.2287430","DOIUrl":"https://doi.org/10.1080/14735970.2023.2287430","url":null,"abstract":"This article argues that there is a conundrum at the heart of the company law understanding of ostensible minority protection mechanisms (the derivative claim and unfair prejudice): they are terrib...","PeriodicalId":44517,"journal":{"name":"Journal of Corporate Law Studies","volume":"2 1","pages":""},"PeriodicalIF":1.1,"publicationDate":"2023-12-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138566347","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Controlling externalities: ownership structure and cross-firm externalities","authors":"Dhammika Dharmapala, Vikramaditya S. Khanna","doi":"10.1080/14735970.2023.2253521","DOIUrl":"https://doi.org/10.1080/14735970.2023.2253521","url":null,"abstract":"ABSTRACTThe increasingly influential ‘universal owner’ theory posits that index funds have incentives to reduce cross-firm externalities to maximise portfolio value. We develop a more general conceptual framework for understanding how firms’ ownership structures and company law affect the internalisation of cross-firm externalities. This approach takes account of the fact that across the world most firms have controlling shareholders. We introduce the concept of ‘controller wealth concentration’ as a determinant of controllers’ pecuniary incentives to internalise externalities. Our framework suggests that, in principle, dual class (and other controlling minority) structures have the hitherto ignored advantage of allowing controllers to diversify their personal wealth (thereby potentially mitigating cross-firm externalities). We provide some evidence that controllers’ personal wealth is nonetheless typically undiversified and discuss possible reasons why controllers fail to diversify. We conclude that controlling shareholders typically have weak pecuniary incentives to internalise externalities, underscoring the importance of government regulation of externalities.KEYWORDS: Controlling shareholdersexternalitiesdual class stock AcknowledgementWe thank two anonymous referees, Dhruv Aggrawal, John Armour, Madison Condon, Luca Enriques, Zohar Goshen, Alperen Gozlugol, Daniel Hemel, Kobi Kastiel, Aniel Kovvali, Joshua Mitts, Michael Ohlrogge, Mariana Pargendler, Frank Partnoy, Elizabeth Pollman, Dan Puchniak, Gabriel Rauterberg, workshop participants at the University of Chicago, Columbia University, George Mason University and the Oxford Business Law Workshop, and conference participants at the American Law and Economics Association meetings and the Global Corporate Governance Colloquium (especially our discussant Yupana Wiwattanakantang) for helpful comments. We also thank Billy Stampfl, John Friess and Shreya Ram for outstanding research assistance. Dharmapala acknowledges the financial support of the Lee and Brena Freeman Faculty Research Fund at the University of Chicago Law School. Any remaining errors or omissions are our own.Disclosure statementNo potential conflict of interest was reported by the author(s).Notes1 As one example of a vast literature, see Colin Mayer, ‘Reinventing the Corporation’ (2016) 4 Journal of the British Academy 53–72.2 e.g. Siva Vaidhyanathan, Antisocial Media: How Facebook Disconnects us and Undermines Democracy (Oxford University Press, 2018).3 See e.g. Simon Dietz and others, ‘“Climate Value at Risk” of Global Financial Assets’ (2016) 6(7) Nature Climate Change 676–679. This study estimates that the ‘value at risk’ of global financial assets due to climate change is quite substantial. As they explain (p. 676): ‘[T]here are two principal ways in which climate change can affect the value of financial assets. First, it can directly destroy or accelerate the depreciation of capital assets, for example through its connect","PeriodicalId":44517,"journal":{"name":"Journal of Corporate Law Studies","volume":"35 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135799417","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}