‘Beyond Neoliberalism: Allocating Resilience Through Corporate Law’

“The dominant view of Anglo-American corporate law and corporate law jurisprudence is that the primary purpose of the corporation is to maximize shareholders’ gains. Under this view, the corporation is conceptualized as a nexus of contracts, primarily between shareholders and directors: shareholders are thought of as the owners of the company, and directors are thought to run the company chiefly in shareholders’ interest. The separation of ownership and control is thus often depicted as the main challenge for corporate law. Thus, corporate law is designed primarily to offer the parties default mechanisms to minimize agency costs …” (more)

[Ronit Donyets-Kedar and Ofer Sitbon, LPE Project, 14 September]

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