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  • Corporate Governance
25 Sep 2020
6 min to read

Missing in Friedman’s Shareholder Value Maximization Credo: The Shareholders

Luca Enriques, Faculty of Law

Fifty years after the publication of Milton Friedman’s essay ‘The Social Responsibility of Business Is to Increase Its Profits’, the debate on whether directors and managers should only aim to...

OBLB categories

  • COVID-19
  • Corporate Governance
26 May 2020
5 min to read

The New Geographies of Corporate Law Production

Dionysia Katelouzou | Peer Zumbansen

Writing about the past trajectories and future prospects of corporate law production amidst the COVID-19 crisis presents several challenges, above all with regard to motivation and justification. In...

OBLB categories

  • Commercial Law
  • Corporate Governance
  • Financial Regulation
20 Oct 2017

Investor-Consumer or Total Value? A Question for Economics-Based Research

Stefan Grundmann | Fabrizio Esposito

Economic-based legal research normally assumes that market or allocative efficiency is about the maximization of total value. In a recent working paper, we argue that consumer and shareholder value...

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