1. Information, Finance, and Markets
2. “Risk aversion is a corollary of diminishing marginal utility for wealth: someone with diminishing marginal utility for wealth will get more ‘pain’ from a pound lost than ‘pleasure’ from a pound gained”: JF Weston and TE Copeland,Managerial Finance(Orlando, The Dryden Press, 9th edn, 1992), 359. In a similar manner WA Klein and JC Coffee,Business Organization and Finance(New York, Foundation Press, 8th edn, 2002), 236: “A critical axiom of modern investment analysis is that in their major investment decisions the overwhelming majority of people are risk averse. One corollary is that investors will accepts volatility risk only if they are paid to do so”.
3. Toward Unlimited Shareholder Liability for Corporate Torts
4. Hansmann and Kraakman,supran 3, 1920–21.