Lucian Arye Bebchuk

Vigorous Race or Leisurely Walk: Reconsidering the Competition over Corporate Charters

112 Yale L.J. 553 (2002) Does American corporate law work effectively to enhance shareholder value? The recent corporate governance crisis makes this time as good as any for reexamining the basic structure of this body of law. This Essay provides such a reconsideration of a defining feature of U.S. corporate law--the existence of regulatory competition among states. In the United...