Beating Shareholder Activism at Its Own Game

Author:

Blair Margaret M.1

Affiliation:

1. Law School , Vanderbilt University , 131 21st Ave. South , Nashville , TN 37240-1181 , USA

Abstract

Abstract The last book by legal scholar Lynn Stout proposes a bold plan to transform corporate governance and enhance their sustainability by creating a “Universal Fund” that would acquire a substantial share of many publicly traded corporations, but hold those shares passively. The plan would also help to redistribute wealth and income to reduce the effects of factors that are driving income inequality. This review examines how the plan might work, and where it is likely to run into problems.

Publisher

Walter de Gruyter GmbH

Subject

Law,Economics, Econometrics and Finance (miscellaneous),Accounting

Reference15 articles.

1. Blair, M. M. (1995). Ownership and control: Rethinking corporate governance for the twenty-first century. Washington, DC.: Brookings Institution.

2. Blair, M. M. (2015). Boards of directors and corporate performance under a team production model. In J. G. Hill, & R. S. Thomas (Eds.), Research handbook on shareholder power (pp. 249–268). Cheltenham, U.K.: Edward Elgar.

3. Blair, M. M., & Stout, L. A. (1999). A team production theory of corporate law. Virginia Law Review, 85, 247–328.

4. Blair, M. M., & Stout, L. A. (2001). Director accountability and the mediating role of the corporate board. Washington University Law Quarterly, 79, 403, 411–14.

5. Brealey, R. A., Myers, S. C., & Allen, F. (2014). Portfolio theory and the capital asset pricing model. In Principles of corporate finance (11th ed., Chapter 8). New York, N.Y.: McGraw-Hill.

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