Wealth Creation and Wealth Sharing: A Colloquium on Corporate Governance and Investments in Human Capital

Front Cover
Brookings Institution Press, 2010 M12 1 - 100 pages

Corporations are the productive engine of market economies. Yet the rules by which the wealth generated by corporations gets divided between the providers of financial capital and the providers of human capital are poorly understood.

In this colloquium, a group of economists, social scientists, lawyers, labor relations specialists, business executives, and executives of financial institutions debate questions about the allocation of risks, returns, and rights in corporations that were raised in Margaret Blair's prior book, Ownership and Control: Rethinking Corporate Governance for the Twenty-First Century (Brookings, 1995).

In addition to Margaret Blair, participants include Bernard Aidinoff, Amatai Etzioni, Ronald Gilson, Martin Ginsburg, Mark Goyder, Oliver Hart, Bruce Householder, Tony Jackson, Bevis Longstreth, Jonathan Low, Bruce MacLaury, Ira Millstein, Nell Minow, Charles Rossotti, Charles Schultze, Kenneth West, and Sidney Winter. Roswell Perkins, of the New York law firm of Debevoise & Plimpton, served as moderator.

 

Selected pages

Contents

Introduction
1
Laying Out the Problem
5
How Important Is It?
17
The Meaning of Ownership
25
Rewriting the Contracts
33
Labors Multifaceted Role
37
General Discussion
43
Creation In Theory and in Practice
51
Implications of the WealthMaximizing Standard in the Law
55
Employee Involvement in Practice
71
General Discussion
75
Notes
87
Copyright

Other editions - View all

Wealth Creation and Wealth Sharing: A Colloquium on Corporate Governance and ...
Margaret M. Blair
Limited preview - 2010
Wealth Creation and Wealth Sharing: A Colloquium on Corporate Governance and ...
Margaret M. Blair
No preview available - 1996

Common terms and phrases

accountability American Law Institute assets Bernard Aidinoff Bevis Longstreth Brookings Institution Bruce Householder Bruce MacLaury bundle Charles Schultze Chicago Cubs conflict contract corporate governance corporate profits create DeBevoise & Plimpton Department of Labor downsizing earn economic surplus efficiency employees employment enterprise equity ESOP example fiduciary duty firm firm-specific human capital firm-specific investments firm-specific skills going holders important incentives input investments in firm-specific investments in human investors involved issues Jonathan Low Kenneth West long-term Lotus managers and directors Margaret Blair Mark Goyder Maurice Saatchi Minow Nell Minow Oliver Hart pany policies porate practices problem question reason relationships rents residual control rights residual income rights responsibilities risk Robert Rolm Ronald Gilson Roswell Perkins Saatchi & Saatchi sell share value specific stakeholders stock price structure takeover talking things tion Topel's transactions Trustees U.S. Department wage workers

References to this book

About the author (2010)

Margaret M. Blair is a senior fellow in Economic Studies at the Brookings Institution and author of Ownership and Control: Rethinking Corporate Governance for the Twenty-first Century (Brookings, 1995).

Bibliographic information

TitleWealth Creation and Wealth Sharing: A Colloquium on Corporate Governance and Investments in Human Capital
AuthorMargaret M. Blair
PublisherBrookings Institution Press, 2010
ISBN0815719566, 9780815719564
Length100 pages
  
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