What is Wrong with Corporate Law? The Purpose of Law and the Law of Purpose Colin Mayer Emeritus Professor of Management Studies, Said Business School and Visiting Professor, Blavatnik School ...
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...What is wrong with corporate law the purpose of and colin mayer emeritus professor management studies said business school visiting blavatnik government university oxford may i am very grateful to robert hughes roy kreitner eric orts participants in wharton safra conference on normative foundations market an anonymous reviewer for helpful comments a previous draft this paper abstract article argues that should be put at heart it addresses objections there little prevents firms from doing determining their purposes even if they were given greater latitude companies would do more than present formulating claim twofold first critics have failed recognize role can play addressing primary defect current system namely divergence private interests corporation public society natural world derives disconnect currently exists between incentives pursuit profit interest human flourishing prosperity second not only address through requiring adoption appropriately formulated but also provides essent...