Summary Of Lynn Stouts The Shareholder Value Myth

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The Shareholder Value Myth

Author : Lynn Stout
Publisher : Berrett-Koehler Publishers
ISBN 13 : 1605098167
Total Pages : 151 pages
Book Rating : 4.6/5 (5 download)

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Book Synopsis The Shareholder Value Myth by : Lynn Stout

Download or read book The Shareholder Value Myth written by Lynn Stout and published by Berrett-Koehler Publishers. This book was released on 2012-05-07 with total page 151 pages. Available in PDF, EPUB and Kindle. Book excerpt: An in-depth look at the trouble with shareholder value thinking and at better options for models of corporate purpose. Executives, investors, and the business press routinely chant the mantra that corporations are required to “maximize shareholder value.” In this pathbreaking book, renowned corporate expert Lynn Stout debunks the myth that corporate law mandates shareholder primacy. Stout shows how shareholder value thinking endangers not only investors but the rest of us as well, leading managers to focus myopically on short-term earnings; discouraging investment and innovation; harming employees, customers, and communities; and causing companies to indulge in reckless, sociopathic, and irresponsible behaviors. And she looks at new models of corporate purpose that better serve the needs of investors, corporations, and society. “A must-read for managers, directors, and policymakers interested in getting America back in the business of creating real value for the long term.” —Constance E. Bagley, professor, Yale School of Management; president, Academy of Legal Studies in Business; and author of Managers and the Legal Environment and Winning Legally “A compelling call for radically changing the way business is done... The Shareholder Value Myth powerfully demonstrates both the dangers of the shareholder value rule and the falseness of its alleged legal necessity.” —Joel Bakan, professor, The University of British Columbia, and author of the book and film The Corporation “Lynn Stout has a keen mind, a sharp pen, and an unbending sense of fearlessness. Her book is a must-read for anyone interested in understanding the root causes of the current financial calamity.” —Jack Willoughby, senior editor, Barron’s “Lynn Stout offers a new vision of good corporate governance that serves investors, firms, and the American economy.” —Judy Samuelson, executive director, Business and Society Program, The Aspen Institute

The Shareholder Value Myth

Author : Lynn Stout
Publisher : Berrett-Koehler Publishers
ISBN 13 : 1605098132
Total Pages : 146 pages
Book Rating : 4.6/5 (5 download)

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Book Synopsis The Shareholder Value Myth by : Lynn Stout

Download or read book The Shareholder Value Myth written by Lynn Stout and published by Berrett-Koehler Publishers. This book was released on 2012-05-07 with total page 146 pages. Available in PDF, EPUB and Kindle. Book excerpt: Distinguished legal scholar Stout proves that there is in fact absolutely no legal obligation for corporations to maximize shareholder value. She looks at new theories that not only better serve the needs of real human beings who invest, but of corporations and society as well.

Summary of Lynn Stout's The Shareholder Value Myth

Author : Everest Media,
Publisher : Everest Media LLC
ISBN 13 :
Total Pages : 19 pages
Book Rating : 4.8/5 (225 download)

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Book Synopsis Summary of Lynn Stout's The Shareholder Value Myth by : Everest Media,

Download or read book Summary of Lynn Stout's The Shareholder Value Myth written by Everest Media, and published by Everest Media LLC. This book was released on 2022-05-10T22:59:00Z with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt: Please note: This is a companion version & not the original book. Sample Book Insights: #1 The Deepwater Horizon disaster was a tragedy on an epic scale not only for the rig and the eleven people who died on it, but also for the corporation BP. By June of 2010, BP had suspended paying its regular dividends, and its stock had plummeted to less than $30 per share. #2 The Deepwater Horizon disaster is just one example of a larger problem that afflicts many public corporations today. That problem is called shareholder value thinking, and it says that public corporations exist to maximize shareholders’ wealth. #3 The 1990s saw the emergence of the idea that corporations should serve only shareholder wealth, which was reflected in stock price. This idea became dominant by the turn of the millennium. #4 The past dozen years have seen a daisy chain of corporate disasters, from massive frauds at Enron, HealthSouth, and Worldcom in the early 2000s to the near-failure and costly taxpayer bailout of many of America’s largest financial institutions in 2008.

Cultivating Conscience

Author : Lynn Stout
Publisher : Princeton University Press
ISBN 13 : 140083600X
Total Pages : 319 pages
Book Rating : 4.4/5 (8 download)

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Book Synopsis Cultivating Conscience by : Lynn Stout

Download or read book Cultivating Conscience written by Lynn Stout and published by Princeton University Press. This book was released on 2010-10-04 with total page 319 pages. Available in PDF, EPUB and Kindle. Book excerpt: How the science of unselfish behavior can promote law, order, and prosperity Contemporary law and public policy often treat human beings as selfish creatures who respond only to punishments and rewards. Yet every day we behave unselfishly—few of us mug the elderly or steal the paper from our neighbor's yard, and many of us go out of our way to help strangers. We nevertheless overlook our own good behavior and fixate on the bad things people do and how we can stop them. In this pathbreaking book, acclaimed law and economics scholar Lynn Stout argues that this focus neglects the crucial role our better impulses could play in society. Rather than lean on the power of greed to shape laws and human behavior, Stout contends that we should rely on the force of conscience. Stout makes the compelling case that conscience is neither a rare nor quirky phenomenon, but a vital force woven into our daily lives. Drawing from social psychology, behavioral economics, and evolutionary biology, Stout demonstrates how social cues—instructions from authorities, ideas about others' selfishness and unselfishness, and beliefs about benefits to others—have a powerful role in triggering unselfish behavior. Stout illustrates how our legal system can use these social cues to craft better laws that encourage more unselfish, ethical behavior in many realms, including politics and business. Stout also shows how our current emphasis on self-interest and incentives may have contributed to the catastrophic political missteps and financial scandals of recent memory by encouraging corrupt and selfish actions, and undermining society's collective moral compass. This book proves that if we care about effective laws and civilized society, the powers of conscience are simply too important for us to ignore.

Citizen Capitalism

Author : Lynn A. Stout
Publisher : Berrett-Koehler Publishers
ISBN 13 : 1523095660
Total Pages : 185 pages
Book Rating : 4.5/5 (23 download)

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Book Synopsis Citizen Capitalism by : Lynn A. Stout

Download or read book Citizen Capitalism written by Lynn A. Stout and published by Berrett-Koehler Publishers. This book was released on 2019-01-29 with total page 185 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporations have a huge influence on the life of every citizen—this book offers a visionary but practical plan to give every citizen a say in how corporations are run while also gaining some supplemental income. It lays out a clear approach that uses the mechanisms of the private market to hold corporations accountable to the public. This would happen through the creation of what the authors call the Universal Fund, a kind of national, democratic, mega mutual fund. Every American over eighteen would be entitled to a share and would participate in directing its share voting choices. Corporations and wealthy individuals would donate stocks, bonds, cash, or other assets to the fund just like they do to other philanthropic ventures now. The fund would pay out dividends to its citizen-shareholders that would grow as the fund grows. The Universal Fund is undoubtedly a big idea, but it is also eminently practical: it uses the tools of capitalism, not government, to give all citizens a direct influence on corporate actions. It would be a major institutional investor beholden not to a small elite group of stockholders pushing for short-term gain but to everyone. The fund would reward corporations that made sure their actions didn't harm people, communities, and the environment, and it would enable them to invest in innovations that would take more than a few months to pay off. Which is another reason corporations would donate to the fund—they could be freed from the constant pressure to maximize their quarterly share price and would essentially be subsidized for doing good. The authors demonstrate that our current economic rules force corporations to be shortsighted and even destructive because for most large investors, nothing matters but share price. The Universal Fund is designed to be a powerful positive balancing force, making the world a better place and the United States a better nation.

Benefit Corporation Law and Governance

Author : Frederick Alexander
Publisher : Berrett-Koehler Publishers
ISBN 13 : 1523083603
Total Pages : 355 pages
Book Rating : 4.5/5 (23 download)

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Book Synopsis Benefit Corporation Law and Governance by : Frederick Alexander

Download or read book Benefit Corporation Law and Governance written by Frederick Alexander and published by Berrett-Koehler Publishers. This book was released on 2017-10-16 with total page 355 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporations with a Conscience Corporations today are embedded in a system of shareholder primacy. Nonfinancial concerns—like worker well-being, environmental impact, and community health—are secondary to the imperative to maximize share price. Benefit corporation governance reorients corporations so that they work for the interests of all stakeholders, not just shareholders. This is the first authoritative guide to this new form of governance. It is an invaluable guide for legal and financial professionals, as well as interested entrepreneurs and investors who want to understand how purposeful corporate governance can be put into practice.

The Cambridge Handbook of Stakeholder Theory

Author : Jeffrey S. Harrison
Publisher : Cambridge University Press
ISBN 13 : 1107191467
Total Pages : 301 pages
Book Rating : 4.1/5 (71 download)

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Book Synopsis The Cambridge Handbook of Stakeholder Theory by : Jeffrey S. Harrison

Download or read book The Cambridge Handbook of Stakeholder Theory written by Jeffrey S. Harrison and published by Cambridge University Press. This book was released on 2019-05-09 with total page 301 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive foundation for stakeholder theory, written by many of the most respected and highly cited experts in the field.

Green Giants

Author : E. Williams
Publisher : AMACOM
ISBN 13 : 0814436145
Total Pages : 305 pages
Book Rating : 4.8/5 (144 download)

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Book Synopsis Green Giants by : E. Williams

Download or read book Green Giants written by E. Williams and published by AMACOM. This book was released on 2015-08-12 with total page 305 pages. Available in PDF, EPUB and Kindle. Book excerpt: What do Brazil’s top beauty brand, America’s second-fastest-growing restaurant chain, and the world’s third bestselling car have in common--besides achieving enormous success with revenue in the tens of billions? They are doing it all while holding to their convictions of implementing sustainable principles that help consumers live better lives. But they aren’t the only ones. Green Giants examines nine companies--including Chipotle, Toyota, Unilever, Tesla, General Electric, and more--who have established the blueprint for sustainable success that anyone can follow. Author Freya Williams, an early pioneer of the modern sustainable business movement, discovered six factors responsible for the overwhelming success of these nine socially responsible companies: The Iconoclastic Leader Disruptive Innovation A Higher Purpose Built In, Not Bolted On Mainstream Appeal New Behavioral Contract Packed with eye-opening research, exclusive interviews, and enlightening examples, Green Giants serves as your blueprint for merging wild profitability with social responsibility.

Business Ethics

Author : J. S. Nelson
Publisher : Oxford University Press
ISBN 13 : 0190610271
Total Pages : 545 pages
Book Rating : 4.1/5 (96 download)

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Book Synopsis Business Ethics by : J. S. Nelson

Download or read book Business Ethics written by J. S. Nelson and published by Oxford University Press. This book was released on 2022 with total page 545 pages. Available in PDF, EPUB and Kindle. Book excerpt: An authoritative and practical guide to business ethics, written in an accessible-question-and answer format In today's turbulent business climate, business ethics are more important than ever. Surveys of employees show that misconduct is on the rise. Cover stories reporting indictments, prosecutions, and penalties imposed for unethical business conduct appear almost daily. Legislatures pass requirements elevating the levels of punishment and their enforcement against corporations and individuals. Organizations face pressure to design and implement effective ethics and compliance programs. As a result, businesses and businesspeople are increasingly worried that their conduct might cross lines that put their wealth and reputations at risk. Business Ethics: What Everyone Needs to Know (R) explains what those lines are, how not to cross them, and what to do when they are crossed. Written for both businesspeople facing real-life dilemmas and students studying ethical questions, this succinct book uniquely surveys materials from moral philosophy, behavioral science, and corporate law, and shares practical advice. Experts J.S. Nelson and Lynn A. Stout cover a wide array of essential topics including the legal status of corporations, major ethical traps in modern business, negotiations, whistleblowing and liability, and best practices. Written in a short question-and-answer style, this resource provides engaging and readable introductions to the basic principles of business ethics, and an invaluable guide for dealing with ethical dilemmas.

The Rise of the Working-Class Shareholder

Author : David Webber
Publisher : Harvard University Press
ISBN 13 : 0674972139
Total Pages : 351 pages
Book Rating : 4.6/5 (749 download)

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Book Synopsis The Rise of the Working-Class Shareholder by : David Webber

Download or read book The Rise of the Working-Class Shareholder written by David Webber and published by Harvard University Press. This book was released on 2018-04-02 with total page 351 pages. Available in PDF, EPUB and Kindle. Book excerpt: When Steven Burd, CEO of the supermarket chain Safeway, cut wages and benefits, starting a five-month strike by 59,000 unionized workers, he was confident he would win. But where traditional labor action failed, a novel approach was more successful. With the aid of the California Public Employees’ Retirement System, a $300 billion pension fund, workers led a shareholder revolt that unseated three of Burd’s boardroom allies. In The Rise of the Working-Class Shareholder: Labor's Last Best Weapon, David Webber uses cases such as Safeway’s to shine a light on labor’s most potent remaining weapon: its multitrillion-dollar pension funds. Outmaneuvered at the bargaining table and under constant assault in Washington, state houses, and the courts, worker organizations are beginning to exercise muscle through markets. Shareholder activism has been used to divest from anti-labor companies, gun makers, and tobacco; diversify corporate boards; support Occupy Wall Street; force global warming onto the corporate agenda; create jobs; and challenge outlandish CEO pay. Webber argues that workers have found in labor’s capital a potent strategy against their exploiters. He explains the tactic’s surmountable difficulties even as he cautions that corporate interests are already working to deny labor’s access to this powerful and underused tool. The Rise of the Working-Class Shareholder is a rare good-news story for American workers, an opportunity hiding in plain sight. Combining legal rigor with inspiring narratives of labor victory, Webber shows how workers can wield their own capital to reclaim their strength.

There's No Such Thing as "The Economy"

Author : Samuel A. Chambers
Publisher : punctum books
ISBN 13 : 1947447890
Total Pages : 168 pages
Book Rating : 4.9/5 (474 download)

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Book Synopsis There's No Such Thing as "The Economy" by : Samuel A. Chambers

Download or read book There's No Such Thing as "The Economy" written by Samuel A. Chambers and published by punctum books. This book was released on 2018 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt: Every Economics textbook today teaches that questions of values and morality lie outside of, are in fact excluded from, the field of Economics and its proper domain of study, "the economy." Yet the dominant cultural and media narrative in response to major economic crisis is almost always one of moral outrage. How do we reconcile this tension or explain this paradox by which Economics seems to have both everything and nothing to do with values? The discipline of modern economics hypostatizes and continually reifies a domain it calls "the economy"; only this epistemic practice makes it possible to falsely separate the question of value from the broader inquiry into the economic. And only if we have first eliminated value from the domain of economics can we then transform stories of financial crisis or massive corporate corruption into simple tales of ethics. But if economic forces establish, transform, and maintain relations of value then it proves impossible to separate economics from questions of value, because value relations only come to be in the world by way of economic logics. This means that the "positive economics" spoken of so fondly in the textbooks is nothing more than a contradiction in terms, and as this book demonstrates, there's no such thing as "the economy." To grasp the basic logic of capital is to bring into view the unbreakable link between economics and value.

The Shareholder Value Myth

Author : Lynn Stout
Publisher : ReadHowYouWant
ISBN 13 : 9781459638693
Total Pages : 204 pages
Book Rating : 4.6/5 (386 download)

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Book Synopsis The Shareholder Value Myth by : Lynn Stout

Download or read book The Shareholder Value Myth written by Lynn Stout and published by ReadHowYouWant. This book was released on 2012-05 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt: Proves that shareholder primacy has no basis in law or economics and does not deliver better bottom - line results. Suggests better ways to think about shareholders and their relationship to corporations Written by one of America's most distinguished legal scholars, Executives, investors, and the business press routinely chant the mantra that co...

Corporate Governance in the Common-Law World

Author : Christopher M. Bruner
Publisher : Cambridge University Press
ISBN 13 : 1107354900
Total Pages : 317 pages
Book Rating : 4.1/5 (73 download)

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Book Synopsis Corporate Governance in the Common-Law World by : Christopher M. Bruner

Download or read book Corporate Governance in the Common-Law World written by Christopher M. Bruner and published by Cambridge University Press. This book was released on 2013-03-29 with total page 317 pages. Available in PDF, EPUB and Kindle. Book excerpt: The corporate governance systems of Australia, Canada, the United Kingdom and the United States are often characterized as a single 'Anglo-American' system prioritizing shareholders' interests over those of other corporate stakeholders. Such generalizations, however, obscure substantial differences across the common-law world. Contrary to popular belief, shareholders in the United Kingdom and jurisdictions following its lead are far more powerful and central to the aims of the corporation than are shareholders in the United States. This book presents a new comparative theory to explain this divergence and explores the theory's ramifications for law and public policy. Bruner argues that regulatory structures affecting other stakeholders' interests - notably differing degrees of social welfare protection for employees - have decisively impacted the degree of political opposition to shareholder-centric policies across the common-law world. These dynamics remain powerful forces today, and understanding them will be vital as post-crisis reforms continue to take shape.

Corporate Governance After the Financial Crisis

Author : Stephen M. Bainbridge
Publisher : Oxford University Press, USA
ISBN 13 : 0199772428
Total Pages : 294 pages
Book Rating : 4.1/5 (997 download)

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Book Synopsis Corporate Governance After the Financial Crisis by : Stephen M. Bainbridge

Download or read book Corporate Governance After the Financial Crisis written by Stephen M. Bainbridge and published by Oxford University Press, USA. This book was released on 2012-02-16 with total page 294 pages. Available in PDF, EPUB and Kindle. Book excerpt: The years from 2000 to 2010 were bookended by two major economic crises. The bursting of the dotcom bubble and the extended bear market of 2000 to 2002 prompted Congress to pass the Sarbanes-Oxley Act, which was directed at core aspects of corporate governance. At the end of the decade came the bursting of the housing bubble, followed by a severe credit crunch, and the worst economic downturn in decades. In response, Congress passed the Dodd-Frank Act, which changed vast swathes of financial regulation. Among these changes were a number of significant corporate governance reforms. Corporate Governance after the Financial Crisis asks two questions about these changes. First, are they a good idea that will improve corporate governance? Second, what do they tell us about the relative merits of the federal government and the states as sources of corporate governance regulation? Traditionally, corporate law was the province of the states. Today, however, the federal government is increasingly engaged in corporate governance regulation. The changes examined in this work provide a series of case studies in which to explore the question of whether federalization will lead to better outcomes. The author analyzes these changes in the context of corporate governance, executive compensation, corporate fraud and disclosure, shareholder activism, corporate democracy, and declining US capital market competitiveness.

The Handbook of Board Governance

Author : Richard Leblanc
Publisher : John Wiley & Sons
ISBN 13 : 1118895509
Total Pages : 888 pages
Book Rating : 4.1/5 (188 download)

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Book Synopsis The Handbook of Board Governance by : Richard Leblanc

Download or read book The Handbook of Board Governance written by Richard Leblanc and published by John Wiley & Sons. This book was released on 2016-05-31 with total page 888 pages. Available in PDF, EPUB and Kindle. Book excerpt: Build a more effective board with insight from the forefront of corporate governance The Handbook of Board Governance provides comprehensive, expert-led coverage of all aspects of corporate governance for public, nonprofit, and private boards. Written by collaboration among subject matter experts, this book combines academic rigor and practitioner experience to provide thorough guidance and deep insight. From diversity, effectiveness, and responsibilities, to compensation, succession planning, and financial literacy, the topics are at once broad-ranging and highly relevant to current and aspiring directors. The coverage applies to governance at public companies, private and small or medium companies, state-owned enterprises, family owned organizations, and more, to ensure complete and clear guidance on a diverse range of issues. An all-star contributor list including Ram Charan, Bob Monks, Nell Minow, and Mark Nadler, among others, gives you the insight of thought leaders in the areas relevant to your organization. A well-functioning board is essential to an organization’s achievement. Whether the goal is furthering a mission or dominating a market, the board’s composition, strategy, and practices are a determining factor in the organization’s ultimate success. This guide provides the information essential to building a board that works. Delve into the board’s strategic role in value creation Gain useful insight into compensation, risk, accountability, legal obligations Understand the many competencies required of an effective director Get up to speed on blind spots, trendspotting, and social media in the board room The board is responsible for a vast and varied collection of duties, but the singular mission is to push the organization forward. Poor organization, one-sided composition, inefficient practices, and ineffective oversight detract from that mission, but all can be avoided. The Handbook of Board Governance provides practical guidance and expert insight relevant to board members across the spectrum.

Moving Beyond Modern Portfolio Theory

Author : Jon Lukomnik
Publisher : Routledge
ISBN 13 : 100037615X
Total Pages : 175 pages
Book Rating : 4.0/5 (3 download)

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Book Synopsis Moving Beyond Modern Portfolio Theory by : Jon Lukomnik

Download or read book Moving Beyond Modern Portfolio Theory written by Jon Lukomnik and published by Routledge. This book was released on 2021-04-29 with total page 175 pages. Available in PDF, EPUB and Kindle. Book excerpt: Moving Beyond Modern Portfolio Theory: Investing That Matters tells the story of how Modern Portfolio Theory (MPT) revolutionized the investing world and the real economy, but is now showing its age. MPT has no mechanism to understand its impacts on the environmental, social and financial systems, nor any tools for investors to mitigate the havoc that systemic risks can wreck on their portfolios. It’s time for MPT to evolve. The authors propose a new imperative to improve finance’s ability to fulfil its twin main purposes: providing adequate returns to individuals and directing capital to where it is needed in the economy. They show how some of the largest investors in the world focus not on picking stocks, but on mitigating systemic risks, such as climate change and a lack of gender diversity, so as to improve the risk/return of the market as a whole, despite current theory saying that should be impossible. "Moving beyond MPT" recognizes the complex relations between investing and the systems on which capital markets rely, "Investing that matters" embraces MPT’s focus on diversification and risk adjusted return, but understands them in the context of the real economy and the total return needs of investors. Whether an investor, an MBA student, a Finance Professor or a sustainability professional, Moving Beyond Modern Portfolio Theory: Investing That Matters is thought-provoking and relevant. Its bold critique shows how the real world already is moving beyond investing orthodoxy.

Business Persons

Author : Eric W. Orts
Publisher : Oxford University Press, USA
ISBN 13 : 0199670919
Total Pages : 327 pages
Book Rating : 4.1/5 (996 download)

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Book Synopsis Business Persons by : Eric W. Orts

Download or read book Business Persons written by Eric W. Orts and published by Oxford University Press, USA. This book was released on 2013-08-29 with total page 327 pages. Available in PDF, EPUB and Kindle. Book excerpt: Business firms are ubiquitous in modern society, but an appreciation of how they are formed and for what purposes requires an understanding of their legal foundations. This book provides a scholarly and yet accessible introduction to the legal framework of modern business enterprises. It explains how the legal ideas allow for the construction and recognition of business firms as persons having rights and responsibilities. It also shows how law sets the boundariesof firms. Specific applications include contributions to debates about executive compensation and political free-speech rights of corporations. Anyone who wishes to have a deeper understanding of thenature of business firms and their role in modern society will benefit from reading this book.