![]() ![]() Finally, the role of government regulation in controlling corporate conduct is just one of many arguments in favor of shareholder primacy. Second, Strine and Walker likely overstate the extent to which Citizens United will result in significant erosion of the regulatory environment that constrains corporate conduct. ![]() More important, scholars who range across the political spectrum embrace shareholder primacy. They apply the term to such a wide range of thinkers as to make it virtually meaningless. First, “conservative corporate law theory” is a misnomer. #Watchman utorrent free#As a result, they contend, Citizens United “logically supports the proposition that a corporation’s governing board must be free to think like any other citizen and put a value on things like the quality of the environment, the elimination of poverty, the alleviation of suffering among the ill, and other values that animate actual human beings.”This essay argues that Strine and Walker’s analysis is flawed in three major respects. Because Citizens United purportedly has unleashed a torrent of corporate political campaign contributions intended to undermine regulations, they argue that the decision undermines the viability of conservative corporate law theory. FEC undermines a school of thought they call “conservative corporate law theory.” They argue that conservative corporate law theory justifies shareholder primacy on grounds that government regulation is a superior constraint on the externalities caused by corporate conduct than social responsibility norms. Supreme Court’s decision in Citizens United v. ![]() Delaware Supreme Court Chief Justice Leo Strine and Nicholas Walter have recently published an article arguing that the U.S. ![]()
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