The Modern Corporation And Private Property

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The Modern Corporation And Private Property

Author :
ISBN : 0887388876
Genre : Business & Economics
File Size : 82.43 MB
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Written more than a half-century ago, The Modern Corporation and Private Property remains the fundamental introduction to the internal organization of the corporation in modern society. Combining the analytical skills of an attorney with those of an economist, Berle and Means raise the central questions, even when their answers have been superseded by changing circumstances. This volume remains of valuable to all those concerned with the evolution of this major social institution.
Category: Business & Economics

The Modern Corporation And Private Property

Author : Gardiner Means
ISBN : 9781351479349
Genre : Business & Economics
File Size : 69.82 MB
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This monumental work on the corporation is one of those enduring classics that many cite but few have read. Graced with a new introduction by Weidenbaum and Jensen, this new edition makes this classic available to a new generation. Written in the early 1930s, The Modern Corporation and Private Property remains the fundamental introduction to the internal organization of the corporation in modern society. Combining the analytical skills of an attorney with those of an economist, Berle and Means raise the central questions, even when their answers have been superseded by changing circumstances.The book's most enduring theme is the separation of ownership from control of the modern corporation and its consequences. Berle and Means display keen awareness of the divergent interests of directors and managers, and of each from owners of the firm. Among their predictions are the characteristic increase in size of the modem corporation and concentration of the economy. The authors view stock exchanges and stock markets as essential by-products of the rise of the modem corporation, and explore how these function. They address the difficult questions of whether corporations operate for the benefit of owners or managers, and explore what motivates managers to make effective use of corporate assets. Finally, they examine the role of the corporation as the prevailing form of organizing the production and distribution of goods and services.In their new introduction, Weidenbaum and Jensen, co-directors of the Center for the Study of American Business at Washington University, critically assess the impact of developments not fully anticipated by Berle and Means, such as the rise of the service sector, and the significant role played by institutional investors in the owner/manager equation. They note the authors' prescient observations, including the complex role of and motivating influences on professional managers, and the significance of inside informatio
Category: Business & Economics

The Modern Corporation And Private Property

Author :
ISBN : 0887388876
Genre : Business & Economics
File Size : 78.52 MB
Format : PDF, ePub, Mobi
Download : 691
Read : 368

Written more than a half-century ago, The Modern Corporation and Private Property remains the fundamental introduction to the internal organization of the corporation in modern society. Combining the analytical skills of an attorney with those of an economist, Berle and Means raise the central questions, even when their answers have been superseded by changing circumstances. This volume remains of valuable to all those concerned with the evolution of this major social institution.
Category: Business & Economics

Mergers And Acquisitions Perspectives

Author : Simon Peck
ISBN : 0415226252
Genre : Business & Economics
File Size : 69.22 MB
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This set includes articles from the four main fields which have influenced the study of Mergers and Acquisitions: Economics, Finance, Strategic Management and Human Resource Management. Featuring the key papers by individuals who shaped the field, the collection presents these formative pieces in thematically grouped sections, including coverage of: * Perspectives on the modern business corporation and the role of mergers and acquisitions: historical, financial, strategic and management * Causes of mergers and acquisitions activity * Performance impact of mergers and acquisitions activity * Public policy and the corporation The set features a comprehensive index and original introductory material.
Category: Business & Economics

Modern Corporation And American Political Thought

Author : Scott Bowman
ISBN : 0271044136
Genre : Political Science
File Size : 42.9 MB
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Despite all that has been written about business and its role in American life, contemporary theories about the modern corporation as a social and political institution have failed to explain adequately the pervasiveness and complexity of corporate power in the twentieth century. Through an analysis of history, law, ideology, and economics that spans two centuries, Scott R. Bowman attempts to offer a complete interpretation of the way corporate power has achieved its dominant position in American society today. In The Modern Corporation and American Political Thought, Bowman demonstrates how judge-made and statutory laws have structured and regulated the growth of corporate power while preserving corporate autonomy. The argument unfolds within a historical framework that reconstructs the evolution of the corporation with reference to its two dimensions of power: internal (within the enterprise) and external (in society at large). Bowman examines and revises Marxist, pluralist, and managerial theories to develop his own political theory about class conflict and corporate power and offers fresh interpretations of the political thought of Herbert Croly, Walter Weyl, Thorstein Veblen, Peter F. Drucker, Adolph A. Berle, and John Kenneth Galbraith. Ultimately, this book sets forth the first political theory that adequately accounts for the power of the modern corporation in all its dimensions.
Category: Political Science

The Struggle For Control Of The Modern Corporation

Author : Robert F. Freeland
ISBN : 0521630347
Genre : Business & Economics
File Size : 27.6 MB
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Winner of the 2005 Business History Review Newcomen Award for best book in business history, The Struggle for Control of the Modern Corporation provides a fascinating historical overview of decision-making and political struggle within one of America's largest and most important corporations. Drawing on primary historical material, Robert Freeland examines the changes in General Motors' organization between the years 1924 and 1970. He takes issue with the well-known argument of business historian Alfred Chandler and economist Oliver Wiliamson, who contend that GM's multidivisional corporate structure emerged and survived because it was more efficient than alternative forms of organization. This book illustrates that for most of its history, GM intentionally violated the fundamental axioms of efficient organization put forth by these analysts. It did so in order to create cooperation and managerial consent to corporate policies. Freeland uses the GM case to re-examine existing theories of corporate governance, arguing that the decentralized organizational structure advocated by efficiency theorists may actually undermine cooperation, and thus foster organizational decline.
Category: Business & Economics

Gardiner C Mean S Institutional And Post Keynesian Economics

Author : Warren J. Samuels
ISBN : 9781315490830
Genre : Business & Economics
File Size : 77.17 MB
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Gardiner Means has a secure place in the history of 20th century economic thought, as the co-author with A.A.Berle of "The Modern Corporation and Private Property". But according to Samuels and Medema, Means should be remembered for major contributions in both micro- and macroeconomics. The authors discuss Means's ideas of administered pricing and profit maximization within the giant corporation, the possible links between industrial structure and macroeconomic performance, a theory of the firm as it relates to the market, and the micro foundations of macroeconomics. Central to Means's macroeconomics is his theory that administered pricing generates inflation and stagflation. Means, in the authors' view, was a seminal thinker and a post-Keynesian economist, as well as an institutionalist. This book also gives an precis of Means's unusual career in government and the academy.
Category: Business & Economics

The Oxford Handbook Of The Corporation

Author : Thomas Clarke
ISBN : 9780191056833
Genre : Business & Economics
File Size : 83.83 MB
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The Oxford Handbook of the Corporation assesses the contemporary relevance, purpose, and performance of the corporation. The corporation is one of the most significant, if contested, innovations in human history, and the direction and effectiveness of corporate law, corporate governance, and corporate performance are being challenged as never before. Continuously evolving, the corporation as the primary instrument for wealth generation in contemporary economies demands frequent assessment and reinterpretation. The focus of this work is the transformative impact of innovation and change upon corporate structure, purpose, and operation. Corporate innovation is at the heart of the value-creation process in increasingly internationalized and competitive market economies, and corporations today are embedded in a world of complex global supply chains and rising state and state-directed capitalism. In questioning the fundamental purpose and performance of the corporation, this Handbook continues a tradition commenced by Berle and Means, and contributed to by generations of business scholars. What is the corporation and what is it becoming? How do we define its form and purpose and how are these changing? To whom is the corporation responsible, and who should judge the ultimate performance of corporations? By investigating the origins, development, strategies, and theories of corporations, this volume addresses such questions to provide a richer theoretical account of the corporation and its contested future.
Category: Business & Economics

Handbook On The Economics And Theory Of The Firm

Author : Michael Dietrich
ISBN : 9781781002407
Genre : Business & Economics
File Size : 62.63 MB
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This unique Handbook explores both the economics of the firm and the theory of the firm, two areas which are traditionally treated separately in the literature. On the one hand, the former refers to the structure, organization and boundaries of the firm, while the latter is devoted to the analysis of behaviours and strategies in particular market contexts. the novel concept underpinning this authoritative volume is that these two areas closely interact, and that a framework must be articulated in order to illustrate how linkages can be created. This interpretative framework is comprehensively developed in the editors' introduction, and the expert contributors – more than fifty academics of renowned authority – further elaborate on the linkages in the seven comprehensive sections that follow, encompassing: background; equilibrium and new institutional theories; the multinational firm; dynamic approaches to the firm; modern issues; firms' strategies; and economic policy and the firm. Bridging economics and theory of the firm, and providing both technical and institutional perspectives on real corporations, this path-breaking Handbook will prove an invaluable resource for academics, researchers and students in the fields of economics, heterodox economics, business and management, and industrial organization.
Category: Business & Economics

American Labor And Economic Citizenship

Author : Mark Hendrickson
ISBN : 9781107355293
Genre : History
File Size : 50.12 MB
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Once viewed as a distinct era characterized by intense bigotry, nostalgia for simpler times and a revulsion against active government, the 1920s have been rediscovered by historians in recent decades as a time when Herbert Hoover and his allies worked to significantly reform economic policy. Mark Hendrickson both augments and amends this view by studying the origins and development of New Era policy expertise and knowledge. Policy-oriented social scientists in government, trade union, academic and nonprofit agencies showed how methods for achieving stable economic growth through increased productivity could both defang the dreaded business cycle and defuse the pattern of hostile class relations that Gilded Age depressions had helped to set as an American system of industrial relations.
Category: History

Executive Team Leadership In The Global Economic And Competitive Environment

Author : Richard L. Nolan
ISBN : 9781317602569
Genre : Business & Economics
File Size : 80.41 MB
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Corporations have continued to grow and extend their operations into the global economy to the point that the modern corporation has become larger and more influential than many sovereign countries. In this global expansion, corporations have extended their operations with little restraint—almost only limited by corporate lawyers’ imaginations. Modern corporations have become so pervasive; world populations are more dependent on them for their food, services, technologies, work and daily well-being than ever before. This book analyzes the twenty-first century forces challenging the executive leadership of the modern corporation. Lessons are drawn for corporate leaders facing these challenges: turbulent times, balancing creators and stewards, managing company culture, managing by wire, incorporating global virtual organization structures, and managing sustained innovation. Nolan concludes with guidelines on creating a leadership agenda for transforming the corporation to successfully compete in the realities of the new corporate world of the twenty-first century.
Category: Business & Economics

Economic Social And Cultural Rights

Author : Eibe Riedel
ISBN : 9780199685974
Genre : Law
File Size : 77.58 MB
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Economic, social, and cultural rights are protected by an international covenant, recently amended by the optional protocol which allows individuals to bring rights violations before a UN committee. This book addresses how successfully these rights are implemented and safeguarded worldwide, assessing the key challenges to their protection.
Category: Law

The Integrated Reporting Movement

Author : Robert G. Eccles
ISBN : 9781118993743
Genre : Business & Economics
File Size : 77.76 MB
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An in-depth, enlightening look at the integrated reporting movement The Integrated Reporting Movement explores the meaning of the concept, explains the forces that provide momentum to the associated movement, and examines the motives of the actors involved. The book posits integrated reporting as a key mechanism by which companies can ensure their own long-term sustainability by contributing to a sustainable society. Although integrated reporting has seen substantial development due to the support of companies, investors, and the initiatives of a number of NGOs, widespread regulatory intervention has yet to materialize. Outside of South Africa, adoption remains voluntary, accomplished via social movement abetted, to varying degrees, by market forces. In considering integrated reporting’s current state of play, the authors provide guidance to ensure wider adoption of the practice and success of the movement, starting with how companies can improve their own reporting processes. But the support of investors, regulators, and NGOs is also important. All will benefit, as will society as a whole. Readers will learn how integrated reporting has evolved over the years, where frameworks and standards are today, and the practices that help ensure effective implementation—including, but not limited to an extensive discussion of information technology’s role in reporting and the importance of corporate reporting websites. The authors introduce the concepts of an annual board of directors’ “Statement of Significant Audiences and Materiality” and a “Sustainable Value Matrix” tool that translates the statement into management decisions. The book argues that the appropriate combination of market and regulatory forces to speed adoption will vary by country, concluding with four specific recommendations about what must be done to accelerate high quality adoption of integrated reporting around the world.
Category: Business & Economics

The Law And Economics Of Takeovers

Author : Athanasios Kouloridas
ISBN : 9781847314291
Genre : Law
File Size : 44.91 MB
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This book studies takeovers from the acquirer's perspective. More precisely the book focuses on the legal and regulatory treatment of the risks faced by the acquiring company shareholders in takeovers. The identified risks are categorised into two main groups: first, risks generated by managerial choices and second, regulatory or external risks. The analysis considers the legal context but also draws on the economic literature, seeking to map the area under consideration and to suggest measures to improve the present position from both a law and economics perspective. More specifically, the book examines various methods of protecting the acquiring shareholders against value-decreasing or self-interested acquisitions, such as the class transaction rules, fiduciary duties, the acquiring directors' responsibilities under the Takeover Code, the court scheme procedure, the role of institutional shareholders and reward strategies, and methods of making the acquiring directors more exposed to the discipline of the market. The effects of the choice of the medium of payment are also covered. In addition, it covers the Code's position with regard to auction situations and seeks to identify ways of addressing the acquiring shareholders' interests in auctions, including auctions where buyout teams or white Knights are involved. Moreover it identifies situations where deviations from horizontal equality rules, which increase takeover premia, are or should be recognised. To that effect the Code's rules on mandatory bids, the determination of the price and the form of payment offered, partial offers and squeeze outs are considered. In addition, it covers the Code's position with regards to auction situations and seeks to identify ways of addressing the acquiring shareholders' interests in auctions, including auctions where buyout teams or White Knights are involved. Moreover it identifies situations where deviations from horizontal equality rules, which increase takeover premia, are or should be recognised. To that effect the Code's rules on mandatory bids, the determination of the price and the form of payment offered, partial offers and squeeze outs are considered. The analysis covers both hostile and friendly situations. In relation to hostile takeovers, the legal and regulatory framework of toehold strategies is analysed (Code's requirements, Disclosure Rules and Companies Act disclosure requirements etc). Market Abuse issues in relation to stake building are also highlighted. In relation to friendly takeovers the operation of lock-up agreements and break fees (Code's requirements, fiduciary law, financial assistance and other contract law concerns), is also explored. Finally, the Panel's position on adverse changes, pre-conditions and conditions which the offer can be subject to and the bidder's exposure to Material Adverse Change risk are assessed. The book discusses developments in the area under consideration including the Takeover Code regime after the implementation of the Takeover Directive and the Companies Act 2006.
Category: Law

The Recurrent Crisis In Corporate Governance

Author : Paul W. MacAvoy
ISBN : 0804750866
Genre : Business & Economics
File Size : 29.68 MB
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Taking a close look at American corporate governance, the authors show what is missing in today's corporate governance, and support a case for activating the board of directors to put new controls on management and take responsibility for the result.
Category: Business & Economics

The Battle For The Soul Of Capitalism

Author : John C. Bogle
ISBN : 9780300134834
Genre : Business & Economics
File Size : 60.20 MB
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The legendary founder of Vanguard “presents an insider’s view of what’s wrong with corporate America and what can be done to improve it” (Burton G. Malkiel, author of A Random Walk Down Wall Street). New York Times-bestselling author of Enough and The Little Book of Common Sense Investing John Bogle has seen firsthand the innermost workings—and grotesque abuses—of the financial industry, and is renowned as an advocate for the small investor and for the restoration of integrity to the system. He knows that a trustworthy business and financial complex is essential to America’s continuing leadership in the world and to social and economic progress at home. In this book he reveals what went wrong and how we lost our way—and more importantly, how we can right our course. He argues for a return to a governance structure in which owners’ capital that has been put at risk is used in their interests rather than in the interests of corporate and financial managers. Given that ownership is now consolidated in the hands of relatively few large mutual and pension funds, the specific reforms Bogle details in this book are essential as well as practical—and should be considered by every investor, analyst, Wall Streeter, policy maker, and businessperson. “Deserves attention in the precincts of power.”—Publishers Weekly
Category: Business & Economics