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Books > Business & Economics > Business & management > Ownership & organization of enterprises
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Corporate Law and the Theory of the Firm - Reconstructing Corporations, Shareholders, Directors, Owners, and Investors (Paperback)
Loot Price: R1,398
Discovery Miles 13 980
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Corporate Law and the Theory of the Firm - Reconstructing Corporations, Shareholders, Directors, Owners, and Investors (Paperback)
Series: The Economics of Legal Relationships
Expected to ship within 12 - 19 working days
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Dozens of judicial opinions have held that shareholders own
corporations, that directors are agents of shareholders, and even
that directors are trustees of shareholders' property. Yet, until
now, it has never been proven. These doctrines rest on
unsubstantiated assumptions. In this book the author performs a
rigorous, systematic analysis of common law, contract law, property
law, agency law, partnership law, trust law, and corporate
statutory law using judicial rulings that prove shareholders do not
own corporations, that there is no separation of ownership and
control, directors are not agents of shareholders, and shareholders
are not investors in corporations. Furthermore, the author proves
the theory of the firm, which is founded on the separation of
ownership and control and directors as agents of shareholders,
promotes an agenda that wilfully ignores fundamental property law
and agency law. However, since shareholders do not own the
corporation, and directors are not agents of shareholders, the
theory of the firm collapses. The book corrects decades of
confusion and misguided research in corporate law and the economic
theory of the firm and will allow readers to understand how
property law, agency law, and economics contradict each other when
applied to corporate law. It will appeal to researchers and
upper-level and graduate students in economics, finance,
accounting, law, and sociology, as well as attorneys and
accountants.
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