Stark Choices for Corporate Reform

A Framework for Assessing Corporate Governance Reform∗

In light of recent corporate scandals, numerous proposals have been introduced for reforming corporate governance. This paper provides a theoretical framework through which to evaluate these reforms. Unlike various ad hoc arguments that have been made, this framework recognizes that governance structures arise endogenously in response to the constrained optimization problems faced by the releva...

Metapolitics and Corporate Law Reform

Rethinking Corporate Federalism in the Era of Corporate Reform

Many commentators have criticized the Sarbanes-Oxley Act of 2002 as evidence of the “creeping federalization of corporate law.”1 In this Article, I argue that a realistic threat of federalization is necessary to ensure the robust development of corporate law at the state level. Recent research suggests that Delaware enjoys a monopoly position in the market for “out-of-state” incorporations. Thi...

'Responsible choices': the Jackson Hole Group plan for health reform.

"Responsible Choices" identifies the actions that the private sector and government should take to improve the U.S. health care system and accelerate and expand the health care revolution that is already underway. Policy proposals are made for Medicare; Medicaid; reforming the tax treatment of health insurance; insurance reforms and expanding group purchasing opportunities; and improving the av...

The Reform of (Corporate) Governance in Japan