The Modern Corporation
and Private Property: A Reappraisal/Comment/Hessen's ''Reappraisal'' Hessen, Robert, Rosenberg, Nathan, Means, Gardiner C.. Journal of Law and Economics.
Chicago: Jun 1983.
Vol. 26, Iss. 2;
pg. 273, 27 pgs
Abstract (Summary)Berle and Means' The Modern Corporation
and Private Property
(1932) is a classic. The authors concluded that: 1. Directors and officers in a corporation
have no right to control property they do not own. 2. Ownership of shares cannot be called private property. Those who are influenced by Berle and Means analysis say that shareholders are being denied the control over corporate affairs that they expected to exercise, and are also being short-changed on dividends. However, millions of people freely choose to invest their savings in the shares of publicly traded corporations, and it is farfetched to say that they are being victimized. The decision of investors to entrust their wealth to professional managers does not make them, as Berle and Means claim, inactive and irresponsible. Some of the most striking deficiencies of The Modern Corporation
and Private Property
arise from its neglect of history. Hessen's analysis fails to consider the main thrust of the book, which concerns the effect of the modern corporation
on the working of the economy as a whole.
扫码加好友，拉您进群
全部版块
我的主页
收藏
